Our collection of resources based on what we have learned on the ground
Resources
Q&A
What are the differences between the Chinese Accounting Standard (CAS) and the I...
- May 2015
- Free Access
Despite the ongoing convergence towards international standards, one must be aware of the following differences: Choosing a valuation method; China Accounting Standards (CAS) only allows fixed assets to be valued according to their historical cost...
Q&A
What are the expectations for the Generally Accepted Accounting Practices (GAAP)...
- May 2015
- Free Access
The 2014 Generally Accepted Accounting Practices (GAAP) is expected to be adopted by all medium and large-sized enterprises across Mainland China. The new PRC GAAP consists of: One basic standard providing guidance on practical issues 41 specific...
Q&A
What is 'mapping' in China?
- May 2015
- Free Access
As foreign companies follow different standards, the information from the Chinese subsidiary must be translated to fit into overseas parent company books. This procedure is known as mapping. There are two points to consider: 1. The divergence of Ch...
Q&A
How is accounting currency determined in China?
- May 2015
- Free Access
When a company chiefly does business in non-local currency, it then may choose the currency in which to conduct its accounting. When choosing currency, the company must consider the following factors: If the currency influences the sales pri...
Q&A
What procedures must be considered for before repatriating profits in China?
- May 2015
- Free Access
The remitting of profits does not need prior approval from the State Administrative of Foreign Exchange (SAFE). However it must show that all income taxes have been paid. The investor must present the following documents to the bank in order to prove...
Q&A
Which types of entities are required to file annual income tax returns by the In...
- April 2015
- Free Access
According to the 1961 Income Tax Act, all legal persons (including corporations, individuals, trusts, and partnerships) must file an annual income tax return in India. For the majority of companies, the fiscal year officially ends on March 31st, and ...
Q&A
What are the key differences between the new India Accounting Standards (Ind-AS)...
- April 2015
- Free Access
While the India Accounting Standards (Ind-AS) represent a major step towards international best practices of financial reporting, many key differences remain between Ind-AS and international financial reporting standards (IFRS). For instance, Ind-AS ...
infographic
China Accounting Quick Facts
- April 2015
- Members Access
China Accounting Quick Facts that include accounting standards, accounting licenses, regulators, the fiscal/financial year, repatriating funds and liability.
Q&A
What are the new India Accounting Standards (Ind-AS) as of 2015, and what impact...
- April 2015
- Free Access
The new India Accounting Standards (Ind-AS) are an updated set of accounting standards put forward by the Institute of Chartered Accountants in India (ICAI) to bring India’s generally accepted accounting practices (GAAP) closer in line with int...
magazine
Managing Your Accounting and Bookkeeping in India
- April 2015
- Members Access
In this issue of India Briefing Magazine, we spotlight three issues that financial management teams for India should monitor. In the first article, we examine the new Indian Accounting Standards (Ind-AS) system, which is expected to be a boon for for...
magazine
Managing Your Accounting and Bookkeeping in China
- April 2015
- Members Access
In this issue of China Briefing, we shed light on the practice of accounting in China. We start out by introducing the reader to the development of the Chinese accounting standards, and their main differences compared to international standards. Next...
infographic
Key Differences between the International Financial Reporting Standards (IFRS) a...
- April 2015
- Free Access
This infographic displays the key differences between the International Financial Reporting Standards (IFRS) and Indian Accounting Standards (Ind-AS).
Enquire for more information about our services, and how we can help solve challenges for your organization
Contact Us