Newly Compiled Enterprise Accounting (Second Edition)

Author: Li Haibo, Liu Xuehua, Editors
Publisher:
Publish Date: 2006-05-01
Features: At the beginning of the new century, the Ministry of Finance issued the unified "Enterprise Accounting System," marking another historic transformation in China's accounting system. The release of the "Enterprise Accounting System" laid a solid foundation for improving the quality of enterprise accounting information in China in the new millennium. The "Enterprise Accounting System" was formulated based on the "Accounting System for Joint Stock Limited Companies" and the previously issued ten specific accounting standards, incorporating refinements according to the definitions of accounting elements and the requirements of international accounting. The definitions of accounting elements and the requirements of international accounting specified in the "Enterprise Accounting System" are largely consistent with those in the core standards of the International Financial Reporting Standards (IFRS). It can be said that the accounting practices and standards for recognition and measurement prescribed by the "Enterprise Accounting System" are largely consistent with those in the core standards of IFRS, which has laid a foundation for China's entry into the World Trade Organization and achieving international alignment in accounting. To correctly implement the spirit of the "Enterprise Accounting System" and meet the needs of enterprise accounting teaching in universities and colleges, this book was compiled.