审时度势，把握机遇完善中国会计准则体系.pptVIP

Framework and Implementation of Chinese Accounting Standards System for Business Enterprises Li Hongxia Accounting Regulatory Department Ministry of Finance, P.R. China May 22, 2006 Main Contents The Framework of Chinese Accounting Standards for Business Enterprises (CASs) The Characteristics of Chinese Accounting Standards for Business Enterprises (CASs) Experience Gained from the Development of CASs Implementation of CASs  Background On 15 Feb, 2006, Chinese MoF released 1 Basic Standard and 38 specific standards, effective on Jan. 1, 2007 first in listed companies and extended to large and medium-sized enterprises gradually Background Marks the official establishment of Chinese Accounting Standards System for Business Enterprises Suits the development process of market economy of China Achieves convergence with IFRSs in terms of principles on accounting recognition, measurement and reporting Prescribes special provisions for transactions given domestic situations, eg., related party disclosures ----Result of experiences summarized from Chinese economic and accounting reform and cooperation between CMoF and IASB Background Standardize business behaviors Enhance the quality of accounting information Reduce cost of raising capital Improve corporate governance structure Facilitate business enterprises to implement “coming in” and “going out” strategy I. Framework and Characteristics and Chinese Accounting Standards for Business Enterprises (CASs) The Framework of Chinese Accounting Standards System(1) The Chinese Accounting Standards System for Business Enterprises Consists of 1 Basic Standard and 38 specific standards which are divided into two levels: First level: the Basic Standard Second level: specific standards The Framework of Chinese Accounting Standards System(2) The Framework of Chinese Accounting Standards System The Framework of Chinese Accounting Standards System(3) Basic Standard Plays a leading role Mainly stipulates the o