The Chinese Accounting Standards: A Comparison between Chinese GAAP and IFRS
This article highlights the difference between IFRS and Chinese GAAP and how this may cause difficulties for foreign-invested companies in China.
Accounting in China
In China, foreign-invested enterprises are required to maintain a reliable record of accounting in accordance with Chinese accounting laws and principles and submit tax filings on an monthly basis. In this article we discuss accounting in China and particularly the differences between accrual- and cash-based accounting and its relevance within the Chinese Accounting Standards.