Our collection of resources based on what we have learned on the ground

What are the differences between the Chinese Accounting Standard (CAS) and the International Financial Reporting Standard?

Q&A

Despite the ongoing convergence towards international standards, one must be aware of the following differences:

  • Choosing a valuation method; China Accounting Standards (CAS) only allows fixed assets to be valued according to their historical costs
  • Detailed rules in the CAS; in some cases, as for example mergers & acquisitions, the CAS stipulates  more rules than the IFS
  • Detailed rules in the IFS; conversely for uncommon situations in China, such as employee benefits for multinationals, the company must consult the Ministry of Finance to translate this transaction to the CAS
  • Delayed implementation of International Financial Reporting Standards (IFRS) updates by the Chinese Ministry of Finance
     


< BACK TO LIBRARY
Return to search

Topic

Country

Type of resource

Language




Subscribe to receive latest insights directly to your inbox

Subscribe Now