Accounting Standard for Business Enterprises - Basic Standard

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1、AccountingStandardforBusinessEnterprisesBasicStandardChapter1GeneralProvisionsArticle1InaccordancewithTheAccountingLawofthePeople’sRepublicofChinaandotherrelevantlawsandregulations,thisStandardisformulatedtoprescribetherecognition,measurementandreportingactivit

2、iesofenterprisesforaccountingpurposesandtoensurethequalityofaccountinginformation.Article2ThisStandardshallapplytoenterprises(includingcompanies)establishedwithinthePeople’sRepublicofChina.Article3AccountingStandardsforBusinessEnterprisesincludetheBasicStandard

3、andSpecificStandards.SpecificStandardsshallbeformulatedinaccordancewiththisStandard.Article4Anenterpriseshallpreparefinancialreports.Theobjectiveoffinancialreportsistoprovideaccountinginformationaboutthefinancialposition,operatingresultsandcashflows,etc.oftheen

4、terprisetotheusersofthefinancialreports,inordertoshowresultsofthemanagement’sstewardship,andassistusersoffinancialreportstomakeeconomicdecisions.Usersoffinancialreportsincludeinvestors,creditors,governmentanditsrelevantdepartmentsaswellasthepublic.Article5Anent

5、erpriseshallrecognizemeasureandreporttransactionsoreventsthattheenterpriseitselfhasoccurred.Article6Inperformingrecognition,measurementandreportingforaccountingpurposes,anenterpriseshallbeassumedtobeagoingconcern.Article7Anenterpriseshallclosetheaccountsandprep

6、arefinancialreportsforeachseparateaccountingperiod.Accountingperiodsaredividedintoannualperiods(yearly)andinterimperiods.Aninterimperiodisareportingperiodshorterthanafullaccountingyear.Article8Accountingmeasurementshallbebasedonunitofcurrency.Article9Recognitio

7、n,measurementandreportingforaccountingpurposesshallbeonanaccrualbasis.Article10Anenterpriseshalldeterminetheaccountingelementsbasedontheeconomiccharacteristicsofthetransactionsorevents.Accountingelementsincludeassets,liabilities,owners’equity,revenue,expensesan

8、dprofit.Article11Anenterpriseshallapplythedoubleentrymethod(i.e.debitandcredit)forbookkeepingpurposes.Chapter2QualitativeRequirementsofAccountingInformationArticle12Anenterp