Latest Enterprise Accounting Standards

Author: None
Publisher:
Publish Date: 2007-01-01
Features: The Chinese 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 system; the Specific Standards provide detailed regulations for specific business transactions or reports based on the principles of the Basic Standards; and the Application Guides offer operational guidance for the Specific Standards. The released Chinese Accounting Standards System includes one Basic Standard, 38 Specific Standards, and application guides for the Specific Standards. The Chinese Accounting Standards: Strengthened the new concept of providing decision-useful accounting information for investors and the public; Achieved convergence with international accounting practices; Constructed a comprehensive and organically unified system for the first time; Provided valuable insights for improving International Financial Reporting Standards.