treasury accounting
2.Treasury Ministry of China announced Enterprise Accounting Regulation in 2001, setting some basic principle on consolidated financial statements. But detailed regulations on accounting entry of merge and acquisition are unavailable.
3.In 1999, Treasury Department released the regulation supplement and accounting rule for allocating asset depreciation reserved on 4 investments. In 2000, it expanded to 8 investments.
4.In order to change the situation, around 1999, Treasury Department released the regulation supplement and accounting rule for allocating impairment of assets reserve on short-term investment, inventory, receivables, long-term investment, fixed asset and intangible asset to provide some regulations on the impairment of assets accounting.
5.Article 38 PBC shall turn over to the State treasury the entire net profit from its every accounting fiscal yearly income minus annual expenditures after withdrawing funds for its general reserve at a proportion determined by the financial department of the State Council.
6.Supervise the entire finance and accounting function , including financial and management reporting, budgeting and cash flow forecasting, treasury function, cost and stocks control, credit control, tax planning and advice on financial structure.
7.Supervise the entire finance and accounting function in China, including financial and management reporting, budgeting and cash flow forecasting, treasury function, cost and stocks control, credit control, tax planning and advice on financial structure.
