Enterprise Accounting Law and Standards 2006 Edition

Author: China Legal Publishing House
Publisher:
Publish Date: 2006-03-01
Features: The General Provisions section of the Enterprise Accounting System stipulates that to regulate the accounting practices of enterprises and provide true and complete accounting information, this system is formulated in accordance with the Accounting Law of the People's Republic of China and other relevant laws and regulations.
Article 1: Except for enterprises that do not raise funds externally, operate on a small scale, or are financial and insurance enterprises, all enterprises established within the People's Republic of China (including companies, hereinafter the same) shall implement this system.
Article 2: Enterprises shall formulate accounting methods suitable for their specific circumstances based on relevant accounting laws, administrative regulations, and this system, without violating the provisions of this system, and taking into account the specific conditions of their enterprises.
Article 3: Enterprises shall fill out accounting vouchers, record accounting ledgers, and manage accounting archives in accordance with the Accounting Law of the People's Republic of China, the Regulations on Basic Accounting Work, and the Measures for the Management of Accounting Archives.
Article 4: Accounting shall take into account all transactions or events that occur in the enterprise as its object, recording and reflecting the enterprise's production and business operations.
Article 5: Accounting shall be based on the premise of the enterprise's continuous and normal production and business operations.
Article 6: Accounting periods shall be divided, with accounts settled and financial accounting reports compiled on a periodic basis. Accounting periods are divided into annual, semi-annual, quarterly, and monthly periods. Annual, semi-annual, quarterly, and monthly periods are all determined according to the Gregorian calendar. Semi-annual, quarterly, and monthly periods are collectively referred to as accounting midterms.
This book includes: the Accounting Law of the People's Republic of China, the Regulations on the Chief Accountant, the Accounting Law of the People's Republic of China, the Regulations on the Financial Accounting Reports of Enterprises, etc.