Enterprise Accounting Standards (2006)

Author: Ministry of Finance of the People's Republic of China
Publisher:
Publish Date: 2006-02-01
Features: To adapt to the needs of China's socialist market economy development, the Ministry of Finance of the People's Republic of China has formulated and released the Enterprise Accounting Standards System, which will take effect from January 1, 2007. The Enterprise Accounting Standards System includes 1 Fundamental Standard and 38 Specific Standards, covering all types of economic transactions of various enterprises and achieving full convergence with the International Financial Reporting Standards (IFRS). It represents a major reform in China's accounting system and holds milestone significance. The Enterprise Accounting Standards System will have a significant impact on financial statement preparers, users, certified public accountants, government regulatory authorities, accounting education and research institutions, among others. To facilitate learning, promotion, and implementation, the 39 accounting standards released this time have been compiled into this publication. The Enterprise Accounting Standards released this time represent another major accounting reform, made after comprehensive consideration of the current international and domestic situation, and hold milestone significance in the history of China's accounting development. The newly established Enterprise Accounting Standards System covers almost all economic activities of all existing enterprises, with broad impact and strong regulatory strength. It fills many gaps in China's accounting standards and achieves substantial convergence with the IFRS, further unifying accounting principles and enhancing the operability and understandability of the standards. It is certain to have a profound impact on China's social and economic life. This book is published and distributed by Economic Science Press. This book does not include standards guidelines.
To adapt to the needs of China's socialist market economy development, the Ministry of Finance of the People's Republic of China has formulated and released the Enterprise Accounting Standards System, which will take effect from January 1, 2007. The Enterprise Accounting Standards System includes 1 Fundamental Standard and 38 Specific Standards, covering all types of economic transactions of various enterprises and achieving full convergence with the International Financial Reporting Standards (IFRS). It represents a major reform in China's accounting system and holds milestone significance. The Enterprise Accounting Standards System will have a significant impact on financial statement preparers, users, certified public accountants, government regulatory authorities, accounting education and research institutions, among others. To facilitate learning, promotion, and implementation, the 39 accounting standards released this time have been compiled into this publication. The Enterprise Accounting Standards released this time represent another major accounting reform, made after comprehensive consideration of the current international and domestic situation, and hold milestone significance in the history of China's accounting development. The newly established Enterprise Accounting Standards System covers almost all economic activities of all existing enterprises, with broad impact and strong regulatory strength. It fills many gaps in China's accounting standards and achieves substantial convergence with the IFRS, further unifying accounting principles and enhancing the operability and understandability of the standards. It is certain to have a profound impact on China's social and economic life. This book is published and distributed by Economic Science Press. This book does not include standards guidelines.