企业会计准则基本准则英文版.docx

企业会计准则基本准则英文版.docx

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企业会计准则基本准则英文版

企业会计准则基本准则（英文版）

企业会计准则——基本准则（英文版）

AccountingStandardforBusinessEnterprises:

BasicStandard

Contents

ThePeople'sRepublicofChina

AccountingStandardforBusinessEnterprises:

BasicStandard

ChapterIGeneralProvisions

Article1.Inaccordancewith"TheAccountingLawofthePeople'sRepublicofChina",thisStandardisformulatedtomeettheneedsofdevelopingasocialistmarketeconomyinourcountry,tostandardizeaccountingpracticeandtoensurethequalityofaccountinginformation.

Article2.ThisStandardisapplicabletoallenterprisesestablishedwithintheterritoryofthePeople'sRepublicofChina.ChineseenterprisesestablishedoutsidetheterritoryofthePeople'sRepublicofChina（hereinafterreferredtoas"enterprisesabroad"）arerequiredtoprepareanddisclosetheirfinancialreportstoappropriatedomesticregulatoryauthoritiesinaccordancewiththisStandard.

Article3.AccountingsystemsofenterprisesarerequiredtocomplywiththisStandard.

Article4.Anenterpriseshao9illaccuratelyaccountforallitstransactionsactuallytakenplaceinordertoprovidereportsofreliablequalityontheeconomicandfinancialactivitiesoftheenterpriseitself.

Article5.Accountingandfinancialreportsshouldproceedonthebasisthattheenterpriseisacontinuingentityandwillremaininoperationintotheforeseeablefuture.

Article6.Anenterpriseshallaccountforitstransactionsandprepareitsfinancialstatementsindistinctaccountingperiods.Accountingperiodsmaybeafiscalyear,aquarter,oramonth,commencingonfirstdaysthereofaccordingtotheGregoriancalendar.

Article7.TheRenminbiisthebookkeepingbasecurrencyofanenterprise.AForeigncurrencymaybeusedasthebookkeepingbasecurrencyforenterpriseswhichconducttransactionsmainlyinforeigncurrency.However,inpreparingfinancialstatements,foreigncurrencytransactionsaretobeconvertedintoRenminbi.Thislatterrequirementapp1iestoenterprisesabroadwhenreportingfinancialandeconomicresultstoconcerneddomesticorganizations.

Article8.Thedebitandcreditdoubleentrybookkeepingtechniqueistobeusedforrecordingallaccountingtransactions.

Article9.Accountingrecordsandfinancia1reportsaretobecompiledusingtheChineselanguage.MinorityorforeignlanguagesmaybeusedconcurrentlywiththeChinese1anguagebyenterprisesinautonomousareasofminoritynationalities,orbyenterpriseswithforeigninvestment,andbyforeignenterprises.

Chapter?

GeneralPrinciples

Articlel0.Theaccountingrecordsandfinancialreportsmustbebasedonfinancialandeconomictransactionsastheyactuallytakeplace,inordertoobjectivelyreflectthefinancialpositionandoperatingresultsofanenterprise.

Article11.Accountinginformationmustbedesignedtomeettherequirementsofnationalmacro-economycontrol,theneedsofallconcernedexternaluserstounderstandanenterprise'sfinancialpositionandoperatingresults,andtheneedsofmanagementofenterprisestostrengthentheirfinancialmanagementandadministration.

Article12.Accountingrecordsandfinancialstatementsshallbepreparedaccordingtostipulatedaccountingmethods,andaccountinginformationofenterprisesmustbecomparableandconvenienttobeanalyzed.

Article13.Accountingmethodsusedshallbeconsistentfromoneperiodtotheotherandshallnotbearbitrarilychanged.Changesandreasonsforchanges,ifnecessary,andtheirimpactonanenterprise'sfinancialpositionandoperatingresults,shallbereportedinnotestothefinancialstatements.

Article14.Accountingandfinancialreportspreparationmustbeconductedinatimelymanner.

Article15.Accountingrecordsandfinancialreportsshallbepreparedinaclear,concisemannertofacilitateunderstanding,examinationanduse.

Article16.Theaccrualbasisofaccountingistobeadopted.

Article17.Revenueshallbematchedwithrelatedcostsandexpensesinaccounting.

Article18.Princip1eofprudenceshouldbefollowedinreasonablydeterminingthepossiblelossandexpense.

Articlel9.Thevaluesofallassetsaretoberecordedathistoricalcostsatthetimeofacquisition.Theamountrecordedinbooksofaccountshallnotbeadjustedeventhoughafluctuationintheirvaluemayoccur,exceptwhenStatelawsorregulationsrequirespecifictreatmentoradjustments.

Article20.Acleardistinctionshallbedrawnbetweenrevenueexpendituresandcapitalexpenditures.Expenditureshallberegardedasrevenueexpenditurewherethebenefittotheenterpriseisonlyrelatedtothecurrentfiscalyear;andascapitalexpenditurewherethebenefitstotheenterpriselastforseveralfiscalyears.

Article21.Financialreportsmustreflectcomprehensivelythefinancialpositionandoperatingresultsofanenterprise.Transactionsrelatingtomajoreconomicactivitiesaretobeidentified,appropriatelyclassified,andaccountedfor,andseparatelyreportedinfinancialstatements.

Chapter?

Assets

Article22.Assetsareeconomicresources,whicharemeasurablebymoneyvalue,andwhichareownedorcontrolledbyanenterprise,includingallproperty,rightsasacreditortoothers,andotherrights.Article23.Foraccountingtreatment,assetsarenormallydividedintocurrentassets,long-term

investments,fixedassets,intangibleassets,deferredassetsandotherassets.

Article24.Currentassetsrefertothoseassetswhichwillberealizedorconsumedwithinoneyearoftheiracquisition,orwithinanoperatingcyclelongerthanayear.Theyincludecash,cashdeposits,short-terminvestments,accountsreceivable,prepayments,andinventories,etc..

Article25.Cashandallkindsofdepositsshallbeaccountedforaccordingtotheactualamountofreceiptandpayment.

Article26.Short-terminvestmentsrefertovariousofmarketablesecurities,whichcanberealizedatanytimeandwillbeheldlessthanayear,aswellasotherinvestmentwithalifeofnolongerthanayear.

Marketablesecuritiesshallbeaccountedforaccordingtohistoricalcostasobtained.

Incomereceivedorreceivablefrommarketablesecuritiesincurrentperiodandthedifferencebetweenthereceiptobtainedfromsecuritiessoldandbookcostshallbeallaccountedforascurrentprofitorloss.

Marketablesecuritiesshallbeshowninbookbalanceinaccountingstatement.

Article27.Receivablesandprepaymentsinclude:

notesreceivable,accountsreceivable,otherreceivables,accountsprepaidandprepaidexpenses,etc..

Receivablesandprepaymentsshallbeaccountedforaccordingtoactualamount.

Provisionforbaddebtsmaybesetuponaccountsreceivable.Theprovisionforbaddebtsshallbeshownasadeductionitemofaccountsreceivableinthefinancialstatement.

Allreceivablesandprepaymentsshallbeclearedandcollectedontime,andshallbecheckedwithrelatedpartiesperiodically.Anyaccountsreceivable,provedtobedefinitelyuncollectibleaccordingtostateregulations,shallberecognisedasbaddebtsandwrittenoffagainstprovisionforbaddebtsorchargedtocurrentprofitorloss,ifsuchprovisionisnotsetup.

Prepaidexpensesshallbeamortizedaccordingtoperiodbenefiting,andthebalanceshallbeshownseparatelyinaccountingstatement.

Article28.Inventoriesrefertomerchandise,finishedgoods,semifinishedgoods,goodsinprocess,andallkindsofmaterials,fuels,containers,low-va1ueandperishablearticlesandsoonthatstockedforthepurposeofsale,productionorconsumptionduringtheproductionoperationalprocess.

Allinventoriesshal1beaccountedforathistoricalcostasobtained.Thoseenterpriseskeepingbooksatplannedcostornormcostindailyaccountingshallaccountthecostvariancesandadjustplannedcost（ornormcost）intohistoricalcostperiodically.

Wheninventoriesissuing,enterprisesmayaccountthemunderthefollowingmethods:

first-infirst-out,weightedaverage,movingaverage,specificidentification,last-infirst-out,etc..

Allinventoriesshallbetakenstockperiodically.Ifanyoverage,shortageandout-of-date,deteriorationanddamagethatneedtobescrappedshallbedisposedwithintheyearandaccountedintocurrentprofitorloss.

Alltheinventoriesshallbedisclosedathistoricalcostinaccountingstatement.

Article29.Long-terminvestmentreferstotheinvestmentimpossibleornotintendedtoberealizedwithinayear,includingsharesinvestment,bondsinvestmentandotherinvestments.

Inaccordancewithdifferentsituation,sharesinvestmentandotherinvestmentsshallbeaccountedforbycostmethodorequitymethodrespectively.

Bondsinvestmentshallbeaccountedforaccordingtoactualamountpaid.Theinterestaccruedcontainedintheactuallypaidamountshallbeaccountedforseparately.

Wherebondsareacquiredatapremiumordiscount,thedifferencebetweenthecostandthefacevalueofthebondsshallbeamortizedovertheperiodstomaturityofthebonds.

Interestaccruedduringtheperiodofbondsinvestmentandthedifferencebetweentheamountofprincipalandinterestreceivedonbondssoldandtheirbookcostandinterestaccruedbutnotyetreceivedshallbeaccountedforascurrentprofitandloss.

Sharesinvestment,bondsinvestmentandotherinvestmentsshallbeshownseparatelyinaccountingstatementsatbookbalance.

Bondsinvestmentmaturedwithinayearshallbeshownintheaccountingstatementsseparatelyunderthecaptionofcurrentassets.

Article30.Fixedassetsrefertotheassetswhoseusefullifeisoveroneyear,unitva1ueisabovetheprescribedcriteriaandwhereoriginalphysicalformremainsduringtheprocessofutilization,includingbuildingandstructures,machineryandequipmen