Village collective economic organization accounting system and related regulations

Author: Editing Group of "Accounting System and Related Regulations for Village Collective Economic Organizations"
Publisher:
Publishing Date: 2005-01-01
Features: To adapt to the actual situation of rural collective economic organizations, which primarily engage in economic development while also performing certain community management functions, this system comprehensively accounts for and reflects the financial income and expenditures of village collective economic organizations' business operations and community management. It aims to promote village affairs openness and democratic management, strengthen the accounting work of village collective economic organizations, and standardize their accounting practices. Based on the "Accounting Law of the People's Republic of China" and relevant national laws and regulations, and in consideration of the actual conditions of village collective economic organizations, this system is formulated. It applies to community-based collective economic organizations established at the village or village group level (hereinafter referred to as village collective economic organizations). The Village Committee, which acts on behalf of the village collective economic organization, implements this system. Village collective economic organizations shall set up and use accounting subjects, record accounting ledgers, and prepare accounting reports in accordance with the provisions of this system.