Guidance on implementing IFRS-based standards in China
21 Nov 2006
The Ministry of Finance of China has issued limited implementation guidance on 32 of the 38 Accounting Standards for Business Enterprises (ASBEs) that it adopted in February 2006, effective for 2007 financial reports of Chinese listed companies.
|
China's Accounting Standards for Business Enterprises | |
|---|---|
|
Basic Standard |
|
|
1 |
Inventories |
|
2 |
Long-term equity investments |
|
3 |
Investment properties |
|
4 |
Fixed assets |
|
5 |
Biological assets |
|
6 |
Intangible assets |
|
7 |
Exchange of non-monetary assets |
|
8 |
Impairment of assets |
|
9 |
Employee compensation |
|
10 |
Enterprise annuity fund |
|
11 |
Share-based payment |
|
12 |
Debt restructurings |
|
13 |
Contingencies |
|
14 |
Revenue |
|
15 |
Construction contracts |
|
16 |
Government grants |
|
17 |
Borrowing costs |
|
18 |
Income taxes |
|
19 |
Foreign currency translation |
|
20 |
Business combinations |
|
21 |
Leases |
|
22 |
Recognition and measurement of financial instruments |
|
23 |
Transfer of financial assets |
|
24 |
Hedging |
|
25 |
Direct insurance contracts |
|
26 |
Re-insurance contracts |
|
27 |
Extraction of petroleum and natural gas |
|
28 |
Changes in accounting policies and estimates and correction of errors |
|
29 |
Events occurring after the balance sheet date |
|
30 |
Presentation of financial statements |
|
31 |
Cash flow statements |
|
32 |
Interim financial reporting |
|
33 |
Consolidated financial statements |
|
34 |
Earnings per share |
|
35 |
Segment reporting |
|
36 |
Related party disclosure |
|
37 |
Presentation of financial instruments |
|
38 |
First time adoption of Accounting Standards for Business Enterprises |
