Explanation and Application of the Latest Enterprise Accounting Standards - (Volume 1 and 2) (Revised Edition)

Author: None
Publisher:
Publish Date: 2006-11-01
Features: On February 15, 2006, the Ministry of Finance of China officially released the newly revised "Enterprise Accounting Standards." This was China's effort to meet the diverse needs for accounting information under the market economy conditions, align with the global trend of international convergence of accounting standards, implement the scientific outlook on development, and promote harmonious social development. The new accounting standards system was established based on the revision of the original one basic standard and 16 specific standards. The new accounting standards system consists of over 20 standards, including one basic accounting standard and 38 specific accounting standards. The basic framework of the new accounting standards system is as follows: It includes specific standards for special industries such as basic production, and reporting standards such as cash flow statements and consolidated financial statements. It covers the accounting treatment and information disclosure of most economic activities of enterprises, forming a system adapted to the development process of China's socialist market economy. The new accounting standards system took effect from January 1, 2007, initially implemented in listed companies in China, and encouraged other enterprises to adopt it ahead of schedule, aiming to cover large and medium-sized enterprises in China in the near future. This book is based on the officially promulgated "Enterprise Accounting System" by the Ministry of Finance, focusing on practice, operation, and being easy to understand, with strong applicability and operability. It highlights the following features:
- Show the Development Context: For each standard, it presents the background of its creation, development, and the revision, and compares it with the current international standards item by item, striving to help readers not only "know what" but also "understand why," grasping the essence and spirit of the standards' formation and development.
- Comprehensively Reflect Changes: For the individual standards revised from the original ones, it provides a detailed comparison to fully and accurately reflect the changes in the standards system. For recently issued standards, it also incorporates minor revisions made from the original release date to February 15, 2006, aiming to comprehensively reflect all changes in this revision and provide clear guidance to financial accounting personnel.
- Objectivity, Accuracy, and Authenticity: It strictly adheres to the Ministry of Finance's leadership requirement of "not causing trouble," accurately and objectively reflecting the purpose, principles, and specific requirements of the standards system. For clear and uncontroversial provisions, it offers accurate and practical explanations; for controversial issues and ambiguous areas, it avoids arbitrary comments or personal assertions, maintaining a scientific and pragmatic attitude to contribute to the implementation of the new accounting standards system.
- Concise but Appropriate Length: The goal of this book is to serve as a desk reference and tool for financial workers, with a tightly controlled length. For well-established or conventional aspects, it briefly covers them or provides an index; for recently revised changes or uncertain areas, it elaborates in detail, explaining terms, scope of application, and methods of use. Therefore, although the book is compact, it remains highly operational and practical.
The revision and improvement of the accounting standards system is a dynamic process, and the implementation of the standards will also involve an exploration phase. As subsequent work related to the implementation of the standards system progresses, readers will find that this book provides significant reference value in helping them understand the reform background, grasp the changes between the old and new standards, broaden their international perspective, and quickly master the new accounting standards system.