Accounting and Bookkeeping Services in China

Accounting and Bookkeeping Services in China

Accounting and bookkeeping are essential matters wherever you run a company. 3E Accounting can provide you with comprehensive accounting and bookkeeping services, producing compliant financial statements in an efficient manner, preparing your company’s accounts on a monthly, quarterly, and annual basis, and providing tax compliance support and other related services.

 

Key Differences between China Accounting Standards (CAS) and IFRS

Unlike International Financial Reporting Standards (IFRS) in Western countries, China follows its own Chinese Accounting Standards (CAS). Although CAS largely converged with IFRS, there are still some special exceptions made for the China reality. Choosing a professional service provider will ensure that your company complies with China’s business rules and avoids violating local laws.

The following are the main differences between CAS and IFRS.

• The Chinese fiscal year runs from January 1 to December 31.
• Mandarin is the only officially recognized language for financial reporting and bookkeeping.
• The basis and recording currency for bookkeeping and financial statements is RMB.

A company whose operating revenues and expenditures are in currencies other than RMB may select one of these currencies as the base currency of accounts, but the financial accounting reports prepared should be converted to RMB.

• The chart of accounts must comply with China’s corporate accounting system.
• All bookkeeping invoices must be authentic and official.
• China’s accounting software must comply with local market standards.
• Corporate income tax and business tax returns should be reported monthly.

 

Why Choose Accounting And Bookkeeping Services From 3E Accounting?

3E Accounting is the leader in professional and efficient solutions. Our team has extensive experience in the accounting field that can help your company reduce risk and save you time and money.

With our accounting and bookkeeping services, you don’t need to buy any accounting software, worry about being penalized for non-compliance with standards, about the quality of your staff, or train your staff. Our professional accountants will assist you in monitoring compliance issues and ensure that you are aware of all accounts and reports.

For further information on our accounting and bookkeeping service packages, please contact us or email info@3ecpa.com.cn, and we will respond within 24 hours.