Financial Cost Management

Author: Chinese Institute of Certified Public Accountants
Publisher:
Publishing Date: 2005-03-01
Features: This book is printed on light blue writing paper and comes with an economic regulations compilation (financial accounting) CD-ROM for candidates' reference during their study. If it does not come with one, it is not an authentic version, and candidates are advised to identify it. For any inquiries, please visit [website].
Since the reform and opening-up, especially in the process of establishing and improving the socialist market economy system, the Chinese government has attached great importance to the development of the intermediary service industry. In the early stages of the reform and opening-up, the government first restored the certified public accountant (CPA) system. After more than 20 years of development, the Chinese CPA industry has grown to a considerable scale, with rapidly improving professional quality and standards. It has played a significant role in assisting the government in implementing macroeconomic policies, maintaining the orderly operation of the capital market, and protecting the interests of investors and the public.
The Third Plenary Session of the 16th Central Committee proposed the historical task of improving China's market economy system and put forward new requirements for the development of market intermediary industries, including the CPA profession. The opinions issued by the State Council on promoting the reform, opening-up, and stable development of the capital market further emphasized strengthening the management of accounting firms and other intermediary institutions, as well as fully leveraging the self-regulatory role of industry associations like the Chinese Institute of Certified Public Accountants. This was identified as a key component of the strategic decision to develop the capital market. The Fourth Plenary Session of the 16th Central Committee again affirmed the importance of leveraging the role of intermediary institutions and industry organizations from the perspective of enhancing governance capacity. All these measures fully reflect the high regard of the Central Committee and the State Council for market intermediary industries, including the CPA profession, providing an unprecedentedly favorable policy environment for its future development, which is both inspiring and uplifting. At the same time, it also places new demands on the comprehensive improvement of the quality of the CPA workforce.
Selecting and cultivating highly competent CPA candidates through examinations is a crucial step in standardizing and developing the CPA industry. Since the implementation of the national unified CPA examination system in 1991, China has successfully held 13 such exams. As of the end of 2004, 116,028 candidates had passed all subjects, providing the CPA profession with a substantial pool of qualified talent.
To support the 2005 national unified CPA examination and better serve candidates, the Chinese Institute of Certified Public Accountants organized experts to compile study materials for five subjects—Accounting, Auditing, Financial Management, Economic Law, and Taxation—as well as a companion reference book, Economic Regulations Compilation, based on the 2005 National Unified CPA Examination Syllabus issued by the Ministry of Finance's CPA Examination Committee. The five subjects' study materials were revised and compiled based on the 2004 edition, incorporating changes in regulations and new developments in theoretical research. After revision, the entire set of textbooks fully reflects the basic requirements for the knowledge structure and professional competence of CPAs.
The Economic Regulations Compilation supplements the candidates' understanding of the entire set of textbooks by including the latest relevant laws, regulations, and systems based on the 2004 edition. It helps candidates deepen their comprehensive understanding of relevant professional knowledge while also serving as a practical reference for CPAs and other relevant personnel in society.
Additionally, to facilitate candidates' reference, we have produced a CD-ROM for each subject, which is appended to the end of each textbook.