China’s Accounting Law: Accounting Practice (II) Basic principles of accounting practiceArticle 9 of the Accounting Law states, "An entity shall conduct accounting, fill out accounting vouchers, register accounting books, and prepare financial accounting reports based on actual economic and business transactions. …
China’s Accounting Law: Accounting Practice(I) Concept of accounting practiceBasically, accounting practice refers to the management activities with currency as the main measurement, including continuous and systematic recording, calculation, and analysis of the operation and management activities or budget execution p…
China’s Accounting Law: Management System of Accounting Work(1) Management system of accounting work. According to Article 7 of the Accounting Law, the management system of accounting work in the PRC is as follows: ① The Ministry of Finance of the State Council shall administer the accounting work throughout the coun…
China’s Accounting Law: Basic Duties of Accounting Departments and Accountants(1) An entity must establish accounting books in accordance with the law and ensure their authenticity and completeness;(2) The principal of an entity shall be responsible for the authenticity and completeness of the accounting work and accou…
China’s Accounting Law: Brief IntroductionIn nature, accounting is a management activity to measure, record, analyze, and inspect the economic transactions of an entity, make predictions, participate in decision-making, and conduct supervision, aiming to achieve optimal economic benefits. Accounting law can be broadly …
China’s Taxation Administration: Legal Liabilities (III) Legal liabilities of tax officials for violating tax lawTax officials will be held legally liable for the following violations of tax law: ① Instigating or assisting taxpayers or withholding agents in tax evasion or fraud, or obstructing the recovery of tax debt…
China’s Taxation Administration: Legal Liabilities (II) Legal liabilities of withholding agent for violating tax lawA withholding agent refers to an entity or individual that is obligated to withhold or collect taxes from taxpayers and make payment on their behalf in accordance with the law. The legal liabilities of w…
China’s Taxation Administration: Legal Liabilities (I) Legal liabilities of taxpayers for violating tax law1. Legal liabilities of taxpayers for violating tax administration regulationsTaxpayers' violations of tax administration regulations mainly include violations of regulations on tax registration, accounting ma…
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