I am intrigued by the modifications that Chinese Accountants made to the Soviet accounting system under Chairman Zedong as part of the “Cultural Revolution.” The modifications they had made included recording the revenues sources of different Economic Organizations and where those revenues were spent on before the rest went back to the State. It also describes the changes in the amounts for the different accounts that each Economic Organization had at the beginning of an accounting period and what was left over at the very end. These are not the only modifications, and I am hoping to delve into the subject further at some point.

Something tells me that I should probably devote an Entry to the subject in the Section Two of Work-Standard Accounting Practices (2nd Ed.). Any efforts to write that Entry will have to wait until the coming weekend, however.

Categories: Uncategorized

Tags: Accounting, China, Cold War, Economic History, Economics, Finance, Philosophy, Politics, Psychology, Socialist Finance, Soviet Union, Third Place, Work-Standard, Work-Standard Accounting Practices