China’s Accounting Law: Accounting Practice
China’s Accounting Law: Accounting Practice
Article 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. No entity may conduct accounting based on false economic transactions or information. "The principle of authenticity, also known as the principle of objectivity, is the fundamental principle of accounting. It means that in accounting practice, the accounting information provided by the accounting entity must truthfully reflect the financial position and operating results of the accounting entity based on the actual economic transactions and the legal vouchers and basis to prove the occurrence of the economic transactions, and the requirements of true content, accurate figures, complete items, complete procedures, and reliable information.
Robert Zhang 
Steve Li 