ICAEW.com works better with JavaScript enabled.

Accounting in China

Up-to-date information and background knowledge can help support and grow your business internationally. On this page you can access articles, books and online resources providing useful links to accounting standards, GAAP comparisons and other guides.

Some features on this page link to licensed products and are only available to logged-in members and students.

Access to articles is provided subject to publishers' terms of use.


The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users.

Tax, accounting and audit in China 2015

Tax, Accounting, and Audit in China 2015 offers a comprehensive overview of the major taxes that foreign investors are likely to encounter when establishing or operating a business in China as well as other tax-relevant obligations. This concise, detailed, yet pragmatic guide is ideal for CFOs, compliance officers and heads of accounting who must navigate the complex tax and accounting landscape in China in order to effectively manage and strategically plan their China-based operations.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

China Briefing

China Briefing, published by Dezan Shira & Associates, provides expert commentary on law, tax and business operations aimed at foreign investors doing business in China.

Managing your accounting and bookkeeping in China

Premium Content: This is exclusive item - please log in or subscribe to view this item.

April 2015

Relative to most of the world, China has only recently embraced the market economy and with that the practice of accounting. For this reason, some of the accounting and bookkeeping practices that are an everyday occurrence in China may seem unusual to foreign investors new to the country.

Accounting standards

CAS Plus
Chinese language website from Deloitte with updates and information on Chinese accounting standards and IFRS.

Accounting Standards Updates by Jurisdiction: China
Updates from Deloitte's IAS Plus service.

China Accounting Standards Committee (CASC)
Body responsible for developing and issuing local standards.

Accountancy associations and groups


Many of the following organisations have Chinese language websites only.



An Overview of New PRC GAAP: Differences between old and new PRC GAAP and its convergence with IFRS (3rd edition)
Report published by KPMG in October 2014 comparing current and superseded accounting standards in China, giving an overview of new PRC GAAP and discussing key issues that FIEs need to consider in order to meet the requirements under both new PRC GAAP and IFRS.

Comparison of IFRSs and new Chinese accounting standards
Guide produced by Deloitte in September 2006 following the issuance of Accounting Standards for Business Enterprises (ASBEs).

Guides and resources

China Accounting Alert
Monthly bulletin from EY looking at the latest IFRS news and mainland China updates, with links to guidance.

Conversion to new PRC GAAP: Facing the challenges (3rd edition)
Guide published by KPMG in June 2012 outlining which entities should adopt new PRC GAAP, the definition of medium and large-sized enterprises and a comparison of new PRC GAAP with old PRC GAAP.

Glossary of microfinance terms
Translations from English to Chinese produced by the Consultative Group to Assist the Poor (CGAP). Published in July 2008.

ICAEW contact members

Contact member in China
ICAEW’s network of Contact Members around the world are a point of contact for enquiries and act as ambassadors in promoting ICAEW's strategy and brand in each region.

Adoption of IFRS

On 6 December 2007 the China Accounting Standards Committee (CASC) and the Hong Kong Institute of Certified Public Accountants (HKICPA) issued a joint declaration on mainland standards convergence. A separate declaration was also issued relating to auditing standards.

Useful sources of information

IFRS application around the world – Jurisdictional profile: People's Republic of China
Profile prepared by the IFRS Foundation about use of IFRS in this country with notes on:

  • commitment to global financial reporting standards
  • extent of IFRS application
  • IFRS endorsement
  • translation of IFRS
  • application of IFRS for SMEs.

The clouds part – China converges
Article published in the January 2008 issue of A Plus, the magazine of the HKICPA, which looks at the convergence process that China has undertaken.

China affirms commitment to converge with IFRSs
Press release issued by the IASB on 15 February 2006.

Articles and books in the Library collection

Selected books

Each selected book features specific accounting information on this country; click on the links for more details. Alternatively, contact us if you have a particular enquiry or need further help consulting these titles.

China Master GAAP Guide
Patrick PH Ng; Ng Eng Juan
Annually published handbook on accounting and auditing practices in China, offering up-to-date commentary on applying Accounting Standards for Business Enterprises (ASBE) and Accounting Standards for Small-sized Enterprises (ASSE) with worked examples for each standard. The handbook also includes a comparison of ASBE (2006) and IFRS.

International Trends in Financial Reporting under IFRS
Abbas Ali Mizra and Nandakumar Ankarath (2013)
This practical guide to applying IFRS includes the chapter 'Comparison of IFRS with China GAAP' which outlines the differences between IFRS and ASBEs. It also includes the following example documents:

  • consolidated financial statement templates for non-financial companies set by the ASBEs
  • separate financial statement templates for non-financial companies set by ASBEs
  • 2010 financial statements of CAS Co., Ltd prepared under ASBEs.

International Corporate Procedures
LS Sealy et al (eds.)
A regularly updated looseleaf publication in three volumes, this reference work includes information on tax and accounting and features model company accounts. The model accounts are presented in the standard format for each country with original language and English language versions presented together.

World Accounting
Kurt S Schulzke (ed.)
Each country entry contains sections on the framework of accounting (including the regulatory and standard setting regimes), individual accounting topics, auditing and appendices which can include commonly used terms and acronyms and example financial statements. This is a regularly updated looseleaf reference work in three volumes.

Find more resources

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.