In addition to the 16 Chinese Accounting Standards, what else forms the structure of financial reporting in modern China?
A)IFRS
B)U.S.GAAP
C)ASBE
D)CICPA

Question

Quizplus · Accepted Answer

In addition to the 16 Chinese Accounting Standards, the structure of financial reporting in modern China also includes the Accounting Standards for Business Enterprises (ASBE), which were formulated by the Ministry of Finance in accordance with Chinese characteristics and international practice. IFRS and U.S. GAAP are not part of the financial reporting structure in China, although some Chinese companies may choose to voluntarily follow these standards. CICPA (Chinese Institute of Certified Public Accountants) is a professional organization and does not form part of the financial reporting structure.

In Addition to the 16 Chinese Accounting Standards, What Else