China’s Accounting Law: Meaning and types of financial reports
A financial report refers to a written document that an entity submits to the competent authority or publicly discloses to the public in accordance with the law and reflects the financial position and operating results of the entity. Financial reports are a comprehensive reflection of the economic activities and financial revenue and expenditure of an entity over a certain period of time based on accounting books and other daily accounting information, using monetary measurement indicators.
Financial reports can be divided into internal reports and external reports. An internal report mainly refers to a financial report that is prepared by an enterprise based on its needs of internal business management to be used by its internal management. An external report refers to a financial report that must be prepared and submitted to the competent authority or made available to the public on a regular basis.
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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