Our collection of resources based on what we have learned on the ground
What are the expectations for the Generally Accepted Accounting Practices (GAAP) in China?
Q&AThe 2014 Generally Accepted Accounting Practices (GAAP) is expected to be adopted by all medium and large-sized enterprises across Mainland China. The new PRC GAAP consists of:
- One basic standard providing guidance on practical issues
- 41 specific standards dealing with specific transactions or events within an enterprise
- One Interpretation Guide for the PRC GAAP regarding improvements on the ongoing convergence with the International Financial Reporting Standards (IFRS)
- China Accounting Standards (CAS) Bulletins and other supplementary regulations dealing with questions on how to implement the new PRC GAAP
< BACK TO LIBRARY
Subscribe to receive latest insights directly to your inbox
Subscribe Now