Policy on Accounting Firms’ Carrying out Business Abroad will be Issued
On January 10, the CICPA said that “Opinions on Supporting Accounting Firms in Expanding Export of Services”, initiated by the Ministry of Commerce, would be issued by 10 ministries and commissions jointly such as the Ministry of Commerce, the Foreign Ministry, the China Securities Regulatory Commission, the State-owned Assets Supervision and Administration Commission of the State Council, etc.
New Kind of Partnership Accounting Firms Appears in Shenzhen
14 Special General Partnership Accounting Firms has been licensed by Shenzhen Financial Bureau. They are also the first group in China.
New Rules on Non-listed Banking Financial Institutions’ Implementing the New Accounting Standards
On December 29, the Ministry of Finance issued the Rules. According to the Rules, non-listed banking financial institutions should apply retrospective adjustment method to important changes in accounting policy on the first day of implementing new standards. It also pointed out specific methods of retrospective adjustment on provisions, financial assets and liabilities, long-term equity investment, etc.
Proofreader : Littlerui
Note:
“China Accounting News Weekly” is established on August 5, 2005. It selects important accounting news weekly to convenient the people can acknowledge the developments quickly. From its launching, thousands of people read it every week.
In order to promote the development of China accounting industry to English readers, we make this English edition on March 23, 2007. If there are any problems, please contact with qiaobocao@snai.edu.