2022 Volume 25 Pages 31-39
“China’s Accounting Standards for Business Enterprises” and “China’s Accounting System for Business Enterprises” were announced in formally in the relatively same period by China’s Ministry of Finance. “China’s Accounting Standards for Business Enterprises” were issued in 1992, with revision made both in 2014 and 2017, including a basic standard and 42 specific standards. The basic standard is used as a Conceptual Framework to guide the accounting practices. Later in 2000, “China’s Accounting System for Business Enterprises” is released. Under this background, this paper intends to clarify China’s accounting history and to review China’s Accounting System and Accounting Standards for Business Enterprises, finally, significance of establishing China’s Accounting System and Accounting Standards for Business Enterprises is discussed.
