Study On The Accounting System Of Chinese-funded Banks In Modern China(1897~1937)

In modern China, Chinese-funded banks achieved rapid development with the growth of Chinesecapitalist. The maturity of accounting thought and accounting techniques promoted the development ofbank accounting system. From1897to1937, the accounting system of Chinese-funded banks includedabundant components. In late Qing and early period of the Republic of China, Chinese-funded banksfollowed traditional Chinese-bookkeeping system. The Bank of China（BOC）initiated the reform ofaccounting system during1915. After the reform of the Bank of China, Chinese-funded banks changedtheir accounting systems and accounting models, and replaced Chinese traditional Chinese-bookkeepingsystem with Western-style accounting methods. There were three key points in this reform: the change ofbank accounting organizations, the change of bank accounting rules, and the change of methodologies. Onthe aspect of accounting organizations, Chinese-funded banking replace old-style accounting organizationswith new-style organizations; On the aspect of accounting rules，Chinese-funded banking established newaccounting rules; On the aspect of accounting methodologies, Chinese-funded banking replaced old-styleaccounting methodologies with new-style methodologies. Until Anti-Japanese War, Chinese-funded bankshad continued to modify bank accounting system in accounting practices.Obviously, the history of accounting system of Chinese-funded banks is equal to the history ofaccounting reform of Chinese-funded banks. The process of the reform reflected three characteristics:gradualness, autonomy, coexistence of graft and improvement. The factors that caused the reformcomprised internal economic, regulatory conditions as well as external political, social conditions. Afterthe reform, Chinese-funded banking improved efficiency of the bank work, strengthened the bank’sinternal control and enhanced internal and external relationship. With the analyses of the above aspects，theauthor reveals historical development of the accounting system of Chinese-funded banks beforeAnti-Japanese War. Furthermore, the history of accounting system of Chinese-funded banks will bemeaningful to present-days financial reform and bank administration.