financial statements

Accounting in China

The Chinese Generally Accepted Accounting Principles (China-GAAP) are similar to the International Financial Reporting Standards (IFRS), but differ from the American accounting system (US-GAAP). Most foreign companies are unaware of these differences, and are, therefore, running the risk of non-compliance....

HGB and China GAAP – what are the differences?

by Richard Hoffmann, ECOVIS Beijing China Preparing the yearly financial statements is not just a duty in China but also a health check for your company – If several subsidiaries in different countries are involved and different accounting standards come into consideration,...