Comparison and Practical Application of Differences Between New and Old Enterprise Accounting Standards

Author: Book Writing Group
Publisher:
Publish Date: 2006-04-01
Features: In February 2006, the Ministry of Finance released a new set of corporate accounting standards, including 1 fundamental standard and 38 specific standards, with 22 of them being newly introduced. This release of the corporate accounting standards system strengthened the new concept of providing useful accounting information to investors and the public, achieved convergence with international practices, and for the first time, constructed a relatively complete and organically unified system. It marked a new leap and breakthrough in the development of corporate accounting standards in China, enabling China, which is currently building a market economy, to truly possess an internationally recognized business language for communication. This book is based on the newly published Corporate Accounting Standards, and it elaborates on each standard from four key aspects: first, the background of the standard's formulation; second, the main content of the standard; third, a comparison of differences between the old and new standards; and fourth, a comparison of differences between the new standards and international standards.