Latest Enterprise Accounting Standards

Author: Legal Publishing House Regulations Center
Publisher:
Publish Date: 2007-01-01
Features: The Chinese Enterprises Accounting Standards System consists of three parts: Basic Standards, Specific Standards, and Application Guides.
- The Basic Standards serve as the overarching framework in the entire standards system.
- The Specific Standards provide detailed regulations for specific business activities or reports based on the principles of the Basic Standards.
- The Application Guides offer operational guidance for the Specific Standards.
The newly released Chinese Enterprises Accounting Standards System includes one Basic Standard, 38 Specific Standards, and application guides for the Specific Standards.
Chinese Enterprises Accounting Standards:
- Strengthened the new concept of providing decision-useful accounting information for investors and the public.
- Achieved convergence with international accounting practices.
- First established a comprehensive and unified system.
- Provided valuable insights for improving International Financial Reporting Standards.