国际会计准则与中国准则差异(英文版).pdf

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1、 Our Mission:To Help Our Clients and Our People Excel This guide is one of a series of publications intended to assist users in understanding International Accounting Standards.These include:International Accounting Standards:A Guide to Preparing Accounts 3rd Edition.Written by Deloitte&Touche,Unite

2、d Kingdom.Published by ABG Professional Information:.International Accounting Standards-A Practical Guide to Financial Reporting 2nd Edition.Model financial statements and presentation and disclosure checklists prepared under IAS.Published by Deloitte Touche Tohmatsu.IAS in your Pocket 2nd Edition.A

3、n 80-page pocket-sized guide with summaries of all IASB Standards and Interpretations,updates on agenda projects,and other useful IASB-related information.IAS Plus Newsletter A quarterly newsletter on recent developments in International Accounting Standards and accounting updates for individual cou

4、ntries.To subscribe visit our IAS Plus Our IAS Plus website provides up-to-date news on IAS developments as well as summaries of IFRS and Interpretations and reference materials for download.Financial Instruments Applying IAS 32 and IAS 39 Related summaries,guidance,examples,and US GAAP comparisons.

5、Published by Deloitte Touche Tohmatsu.GAAP Differences in your Pocket:IAS and US GAAP This 20-page booklet identifies and explains 81 differences between International Financial Reporting Standards and US GAAP.2002 Deloitte Touche Tohmatsu.All rights reserved.Printed in Hong Kong.HK052-02 The inform

6、ation in this publication is written in general terms.It is intended as a guide only and the application of its contents to specific situations will depend on the particular circumstances involved.It cannot be applied to a specific situation without appropriate professional advice.Accordingly,we rec

7、ommend that readers seek such professional advice regarding their particular circumstances.This publication should not be relied on as a substitute for such professional advice.All offices of Deloitte Touche Tohmatsu would be pleased to advise you.While all reasonable care has been taken in the prep

8、aration of this publication,neither Deloitte Touche Tohmatsu,nor any of its offic es,partners or employees,accept any responsibility for any errors it might contain,whether caused by negligence or otherwise,or for any loss,howsoever caused,incurred by any person as a result of relying on it.FOREWORD

9、 What is PRC GAAP?Generally accepted accounting principles(GAAP)in the Peoples Republic of China(PRC)come from a number of sources,most notably the law,the Ministry of Finance(MOF),and,for listed company disclosures,the China Securities Regulatory Commission(CSRC).The Law The Accounting Law of the P

10、RC(last revised as of 1 July 2000)is the highest authority on accounting in China.It sets out general principles of accounting for all enterprises,including a definition of the nature and role of accounting and basic principles.It empowers the PRC Ministry of Finance to administer accounting affairs

11、 and to establish uniform accounting regulations and systems.Such regulations and systems have the force of law.In 2000,the State Council issued Financial Accounting and Reporting Rules for Enterprises(FARR).It focuses on such financial accounting and reporting matters as bookkeeping,preparation of

12、financial statements,and reporting practices.It applies to all enterprises other than very small ones that do not raise funds externally.Ministry of Finance(MOF)Pursuant to its mandate under the Accounting Law,the MOF has issued various accounting regulations that apply to different categories of en

13、terprises in China:In 1993,the MOF adopted the Accounting Standard for Business Enterprises(Basic Standard),which serves as the conceptual framework of accounting in China.However,many definitions and concepts included therein have been revised or updated by subsequent pronouncements such as the FAR

14、R.The MOF has adopted a series of Chinese Accounting Standards(CAS),in each case with a FOREWORD separate document of supporting implementation guidance.The MOF has recently developed two comprehensive accounting systems,one that is now applicable to foreign investment enterprises and joint stock li

15、mited enterprises(including listed enterprises)and the other applicable to foreign investment financial institutions and listed financial institutions.The MOF has developed from 1993 various industry-specific accounting systems,such as those for agriculture,communication,and transportation,and syste

16、ms that apply to different types of unlisted financial institutions.From time to time,the MOF also develops ad hoc regulations.Chinese Accounting Standards(CAS).The MOF has been working to develop a body of Chinese Accounting Standards that are broadly in line with International Accounting Standards

17、(IAS).The MOF issued its first Standard in 1997.To date,16 standards have been adopted and others are under active development.Deloitte Touche Tohmatsu has served as the advisor to the MOF in its project to develop CAS.A complete list of CAS is set out in the table on the next page.The table identif

18、ies the category of enterprises to which each Standard applies.Accounting System for Business Enterprises.In January 2001,the MOF adopted a comprehensive Accounting System for Business Enterprises(the System).The System is based,in part,on the experience of the MOF in implementing the Accounting Sys

19、tem for Joint Stock Limited Enterprises and,in part,on the existing individual CAS issued in the past few years.FOREWORD Accounting Standard Effective Date Applicability 1 Disclosure of Related Party Relationships and Transactions 1 Jan.1997 Listed enterprises 2 Cash Flow Statements(minor revision i

20、n 2001)1 Jan.2001 All enterprises 3 Events Occurring After the Balance Sheet Date 1 Jan.1998 Listed enterprises 4 Debt Restructuring(revised significantly in 2001)1 Jan.2001 All enterprises 5 Revenue 1 Jan.1999 Listed enterprises 6 Investments(minor revision in 2001)1 Jan.2001 Joint Stock Limited En

21、terprises(prior to 1 January 2001 it was listed enterprises only)7 Construction Contracts 1 Jan.1999 Listed enterprises 8 Changes in Accounting Policies and Estimates and Corrections of Accounting Errors(minor revision in 2001)1 Jan.2001 All enterprises(prior to 1 January 2001 it was listed enterpri

22、ses only)9 Non-monetary Transactions(revised significantly in 2001)1 Jan.2001 All enterprises 10 Contingencies 1 July 2000 All enterprises 11 Intangible Assets 1 Jan.2001 Joint Stock Limited Enterprises 12 Borrowing Costs 1 Jan.2001 All enterprises 13 Leases 1 Jan.2001 All enterprises 14 Interim Fin

23、ancial Reporting 1 Jan.2002 Listed enterprises 15 Inventories 1 Jan.2002 Joint Stock Limited Enterprises 16 Fixed Assets 1 Jan.2002 Joint Stock Limited Enterprises FOREWORD Applicability to joint stock limited enterprises.Starting 1 January 2001,all joint stock limited enterprises(JSLEs)were require

24、d to follow the System other than enterprises in banking,insurance,and other specialised financial industries(for which a separate accounting system has been adopted see below).When the System became effective on 1 January 2001,the old Accounting System for JSLEs was abolished.Starting in 2001,also,

25、enterprises other than JSLEs have been encouraged to follow the System as well,with the proviso that State-owned enterprises require prior approval from the relevant government authority.In addition,if a parent company adopts the System,the parent should require its subsidiaries to adopt the System

26、as well.Applicability to foreign investment enterprises.As of 1 January 2002,the MOF extended the applicability of the System to all foreign investment enterprises again other than banks,insurance companies,and other financial enterprises.Applicability to financial institutions.Early in 2002,the MOF

27、 issued a new separate though similar Accounting System for Financial Institutions.It must be applied,starting 1 January 2002,by all listed and foreign investment banks,insurance companies,brokerages,leasing companies,and finance companies.Unlisted financial institutions that are joint stock limited

28、 enterprises are encouraged to follow the new system.Other unlisted financial institutions should continue to use the old Accounting Systems for financial institutions.The Accounting System for Financial Institutions is similar to the one for general business enterprises but,in addition,includes pri

29、nciples specific to financial institutions,such as how to recognise interest;repurchase agreements;securities transactions;FOREWORD insurance reserves;accounting by trusts;and accounting by investment funds.China Securities Regulatory Commission The CSRC has adopted various regulations for presentat

30、ion and disclosure of information by listed enterprises.These generally do not address matters of accounting recognition and measurement.Convergence The primary focus of the IASB is convergence of accounting standards worldwide.To facilitate convergence of accounting standards,the IASB has seven mem

31、bers who serve as official liaisons to national standard-setters.Countries with formal liaisons are Australia(including New Zealand),Canada,France,Germany,Japan,the United Kingdom,and the United States.In addition,IASB maintains liaison with other key countries through the International Accounting S

32、tandards Advisory Council(SAC).Madam Feng Shuping,Assistant Minister,PRC Ministry of Finance,is a member of the SAC.Given the circumstances of individual countries,differences currently exist between national standards and IFRS.For instance,our Firms recently-published comparison of IAS and US GAAP

33、identified over 80 differences.The MOF supports international accounting harmonisation and is working to achieve convergence of CAS with IFRS by giving due consideration of IFRS in the process of drafting each CAS.Circumstances where differences arise between CAS and IFRS include:Areas where IFRS al

34、low choices but CAS do not.For instance,property,plant,and equipment may FOREWORD be stated at cost or at revalued amounts under IFRS whereas CAS generally require cost basis.Areas such as hyperinflation where the MOF has not developed a CAS because of limited application in China.Areas where the MO

35、F is currently developing new standards.The MOF has an ongoing programme to issue standards that deal with areas specifically addressed by IFRS.In the light of Chinas evolving market economy and developing accounting profession and the practical circumstances of Chinese enterprises,the MOF has not a

36、dopted certain accounting conventions applied in the IFRS,notably the pervasive use of fair value.The MOFs approach is to establish a set of CAS suitable to Chinas circumstances,while striving toward convergence with IFRS in an orderly manner.This Publication This publication summarises some of the

37、differences between IFRS and PRC GAAP.For this purpose,we include in PRC GAAP mainly the requirements of the law,CAS,the Accounting Systems for Business Enterprises and for Financial Institutions developed by the MOF,and the regulations of the CSRC.Therefore,the focus of this booklet is on GAAP appl

38、icable to listed enterprises,other joint stock limited enterprises,and foreign investment enterprises.DELOITTE TOUCHE TOHMATSU Ken Wild,Global Leader International Accounting Standards Stephen Taylor,Leader IAS Centre of Excellence Hong Kong September 2002 COMPARISON OF IFRS AND PRC GAAP Deloitte To

39、uche Tohmatsu 9 The following table sets out some of the differences between International Financial Reporting Standards(IFRS)and GAAP in the Peoples Republic of China.The significance of these differences and others not included in this list will vary with respect to individual companies depending

40、on such factors as the nature of the companys operations,the industry in which it operates,and the accounting policy choices it has made.Reference to the underlying accounting standards and any relevant national regulations is essential in understanding the specific differ ences.IAS Topic IFRS PRC G

41、AAP _ General approach Principle-based standards with limited application guidance.Principle-based standards accompanied by detailed application guidance._ Ability to make choices Some accounting choices allowed.Few choices.Financial year-end date Not specified.Required to be 31 December.1 Complete

42、set of financial statements Balance sheet,income statement,equity statement,cash flow statement,plus notes.Same,plus statement of allowance for impairment,profit appropriation statement,statement of segmental information.1 Management discussion and analysis.Encouraged“outside the financial statement

43、s”.Required as part of an enterprises financial and accounting report,but not part of the financial statements.COMPARISON OF IFRS AND PRC GAAP 10 Deloitte Touche Tohmatsu IAS Topic IFRS PRC GAAP 1 Classifications of assets in the balance sheet Assets either are not classified or are classified into

44、current and noncurrent.1 Assets must be classified into current assets,long-term investments,fixed assets,intangible assets,and other assets.1 Classifications of liabilities in the balance sheet Liabilities either are not classified or are classified into current and noncurrent.1 Liabilities must be

45、 classified into current and noncurrent.1 Classification of expenses in the income statement Classification by nature or by function.Classification by function.1 Specific line items required on the face of financial statements Some.Many.1 One year comparative prior year financial information Require

46、d both in financial statements and in the notes.Required in financial statements but not in the notes.CSRC rules require listed companies to include certain comparative information in the notes.1 Reporting a separate line item for“total comprehensive income”combining net profit or loss and gains or

47、losses charged directly to equity Permitted,but not required.1 Prohibited.COMPARISON OF IFRS AND PRC GAAP Deloitte Touche Tohmatsu 11 IAS Topic IFRS PRC GAAP 1 Departure from a Standard when compliance would be misleading Permitted in“extremely rare”circumstances“to achieve a fair presentation”.Not

48、addressed.2 Producers inventories of livestock,agricultural and forest products,and mineral ores May be measured at net realisable value if there is a well-established practice in that industry.Excluded from the scope of the CAS.7 Presenting cash flows from operating activities May use either direct

49、 method or indirect method.Must present both direct method and indirect method.7 Classification of interest received and paid in the cash flow statement May be classified as an operating,investing,or financing activity.Interest paid must be classified as a financing activity.Classification of intere

50、st received depends on its nature.7 Cash flows relating to income taxes Operating unless they relate to investing or financing activities.Always operating.8 Extraordinary items presented separately in the income statement Rare,generally limited to expropriations,natural disasters,and acts of war.1“A