《企业会计准则基本准则英文版-WORD版》.doc

Accounting Standards for Business Enterprises Basic Standard Chapter 1 General Provisions Article 1 In accordance with the accounting Law of The People’s Republic of China and other relevant laws and regulations, this Standard is formulated to prescribe the recognition, measurement and reporting activities of enterprises for accounting purposes and to ensure the quality of accounting information. Article 2 This Standard shall apply to enterprises (including companies) established within The People’s Republic of China. Article 3 Accounting Standards for Business Enterprises include the Basic Standard and Specific Standards. Specific Standards shall be formulated in accordance with this Standard. Article 4 An enterprise shall prepare financial reports. The objective of financial reports is to provide accounting information about the financial position, operating result and cash flows, etc. of the enterprises to the users of the financial reports, in order to show results of management’s stewardship, and assist users of financial reports to make economic decision. Users of financial reports include investors, creditors, government and its relevant departments as well as the public. Article 5 An enterprise shall recognize, measure and report transactions or events that the enterprise itself have occurred. Article 6 In performing recognition, measurement and reporting for accounting purposes, an enterprise shall be assumed to be a going concern. Article 7 An enterprise shall close the accounts and prepare financial reports for each separate accounting period. Accounting period is divided into annual periods (yearly) and interim periods. An interim period is a reporting period shorter than a full accounting year. Article 8 Accounting measurement shall be based on unit of currency. Article 9 Recognition, measurement and reporting for accounting purpose shall be on an accrual basis. Article 10 An enterprise shall determine the accounting elements based on the ec