China’s Accounting Law: Accounting Practice
China’s Accounting Law: Accounting Practice
According to Article 10 of the Accounting Law, the following matters shall be subject to accounting procedures and accounting practice: ① The receipt and payment of funds and securities; ② The receipt, distribution, increase, decrease, and use of property; ③ The incurrence and settlement of claims and debts; ④ Increase or decrease in capital and funds; ⑤ Calculation of income, expenditure, expenses, and costs; ⑥ Calculation and processing of financial results; and ⑦ Other matters that require accounting procedures and accounting practice.
Robert Zhang 
Steve Li 