China’s Accounting Law: Concept and functions of accounting books
Accounting books refer to books that are composed of interrelated account pages in a format and are used to record and reflect relevant economic transactions in a chronological and classified manner. Setting up accounting books is an important part of accounting work.
The role of accounting books: ① Setting up accounting books and registering entries on them is conducive to comprehensively and systematically recording and reflecting the economic transactions of an entity, sorting out and organizing data or information, and gradually processing them into useful accounting information; ② It is not only a necessary basis for accounting analysis and inspection, but also the main basis for preparing accounting statements; ③ It is an important basis for audit work; ④ They constitute important economic archive; ⑤ Setting up accounting books in a large-scale entity is conducive to the division of accounting work; and ⑥ It is the basis for assessing operating results.
Practising lawyers
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Robert Zhang
An international lawyer registered in Shanghai, China. Master's degreePublish…
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Steve Li
An international lawyer registered in Shanghai, China. Master's degreePublish…
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