财政部令第5号
（Approved by the State Council on November 16， 1992 and promulgated¹ by Decree No. 5 of the Ministry² of Finance on November 30， 1992）
颁布日期：19921130 　实施日期：19930701 　颁布单位：财政部

　　Chapter I General Provisions

　　Article 1 In accordance with “The Accounting³ Law of the People's Republic of China，” these Criteria⁴ are formulated⁵ to meet the needs of developing a socialist⁶ market economy in our country， to unify⁷ the accounting standards and to ensure the quality of accounting information.

　　Article 2 These Criteria shall be applicable to all enterprises established within the territory of the People's Republic of China. Chinese invested enterprises established outside the territory of the People's Republic of China （herein after referred to as enterprises abroad） shall be required to prepare and disclose their financial reports to the relevant domestic departments in accordance with these Criteria.

　　Article 3 Accounting systems of enterprises shall be formulated in compliance⁹ with these Criteria.

　　Article 4 An enterprise shall accurately¹⁰ account for all its business transactions actually taken place， and record in reliable reports all the business activities of the enterprises itself.

　　Article 5 Accounting and financial reports shall be based on the presumption¹¹ that the enterprise shall carry on its operation in a continuous and regular manner into the foreseeable future.

　　Article 6 An enterprise shall account for its business activities and prepare its financial statements in distinct accounting periods. Accounting periods may be a fiscal¹² year， a quarter， or a month， commencing on the first days thereof according to the Gregorian calendar.

　　Article 7 The Renminbi shall be the bookkeeping base currency. A foreign currency may be adopted as the bookkeeping base currency for enterprises which conduct business transactions mainly in foreign currency. However， in preparing financial statements， business transactions in foreign currency are to be converted into Renminbi. Enterprises abroad shall convert their foreign currency business transactions into Renminbi in preparing financial statements to the relevant domestic departments.

　　Article 8 The debit¹³ and credit double entry bookkeeping technique is to be adopted for recording¹⁴ all accounting transactions.

　　Article 9 Accounting records and financial reports shall be formulated in the Chinese language. Minority languages may be used concurrently¹⁵ with the Chinese language by enterprises in autonomous¹⁶ areas of minority nationalities. And a foreign language may also be used concurrently by enterprises with foreign investment or foreign enterprises.

　　Chapter II General Principles

　　Article 10 The accounting records and financial reports shall be based on business transactions actually taken place， and truthfully reflect the financial position and operating results of an enterprise.

　　Article 11 Accounting information shall be designed to meet the requirements of national macro-economic control， to satisfy the needs of all concerned external users to understand an enterprise's financial position and operating results， as well as the needs of enterprises to strengthen internal management and administration.

　　Article 12 Accounting records and financial reports shall be prepared according to stipulated¹⁷ accounting methods， and accounting data shall be comparable and convenient to be analyzed¹⁸.

　　Article 13 Accounting methods used shall be consistent from one period to the other and shall not be arbitrarily changed. Where changes are absolutely necessary. the changes and reasons therefor and their impact on an enterprise's financial position and operating results， shall be indicated in the financial statements.

　　Article 14 Accounting records and financial reports shall be prepared in a timely manner.

　　Article 15 Accounting records and financial statements shall be prepared in a clear， concise¹⁹ manner to facilitate understanding， examination and use.

　　Article 16 The accrual²⁰ basis of accounting shall be adopted in accounting records and financial reports.

　　Article 17 Revenue shall be matched with related costs and expenses in accounting.

　　Article 18 Principle of prudence²¹ shall be followed， and possible loss and expense shall be reasonably determined²².

　　Article 19 The values of all assets are to be recorded at historical costs at the time of acquisition. The amount recorded in books of account shall not be adjusted even though a fluctuation²³ in their value may occur， except otherwise stipulated by the State.

　　Article 20 A clear distinction shall be reasonably drawn²⁴ between revenue expenditures²⁶ and capital expenditures. Expenditure²⁵ shall be regarded as revenue expenditure where the benefit to the enterprise is only related to the current fiscal year； and as capital expenditure where the benefits to the enterprise last for several fiscal years.

　　Article 21 Financial statements shall reflect comprehensively the financial position and operating results of an enterprise. Transactions relating to major economic activities are to be identified and separately reported in financial statements.

　　Chapter III Assets

　　Article 22 Assets are economic resources， which are measurable by money value， and which are owned or controlled by an enterprise， including all property， claims， and other rights.

　　Article 23 Assets shall normally be divided into current assets， long-term investments， fixed²⁷ assets， intangible as sets， deferred²⁸ assets and other assets.

　　Article 24 Current assets refer to those assets which will be realized or consumed within one year or within an operating cycle longer than a year， including cash， cash deposits， short-term investments， receivables， prepayments， and inventories²⁹， etc.

　　Article 25 Cash and all kinds of deposits shall he accounted for according to the actual amount of receipt and payment.

　　Article 26 Short-term investments refer to various marketable securities， which can be realized at any time and will be held less than a year， as well as other investment with a life of no longer than a year.

　　Marketable securities shall be accounted for according to historical cost as obtained.

　　Income received or receivable from marketable securities in current period and the difference between the receipt obtained from securities sold and book cost shall be all accounted for as current profit or loss. Short-term investments shall be itemized and shown in book balance in financial statement.

　　Article 27 Receivables and prepayments shall include： notes receivable， accounts receivable， other receivables， accounts prepaid and prepaid expenses， etc.

　　Receivables and prepayments shall be accounted for according to actual amount.

　　Provision for bad debts may be set up on accounts receivable. The provision for bad debts shall be itemized and shown as a deduction³⁰ item of accounts receivable in the financial statement.

　　All receivables and prepayments shall be cleared and collected in time， and shall be checked with related parties periodically. Any accounts receivable， proved and confirmed to be definitely uncollectible， shall be recognized as bed debts and written off against provision for bad debts or charged to current profit or loss as bad debts loss， if such provision is not set up.

　　Prepaid expenses shall be amortized³¹ according to period benefiting， and the balance shall be itemized and shown separately in financial statement.

　　Article 28 Inventories refer to merchandise， finished goods， semifinished goods， goods in process， and all kinds of materials， fuels， containers， low-value and perishable³² articles and so on that stocked for the purpose of sale or production and consumption during the production operational process.

　　All inventories shall be accounted for at historical cost as obtained. Those enterprises keep books at planned cost or norm cost in daily accounting shall account the cost variances³³ and adjust planned cost or norm cost into historical cost periodically.

　　When delivering inventories， enterprises nay³⁴ account for their actual cost under the following methods： first-in first-out， weighted average， moving average， specific identification， last-in first-out， etc.

　　All inventories shall be taken stock periodically. Any overage， shortage or out-of-date， deterioration³⁵ and damage the need to be scrapped³⁶ shall be disposed within the year and accounted into current profit or loss.

　　All the inventories shall be disclosed at historical cost financial statement.

　　Article 29 Long-term investment refers to the investment not intended to be realized within a year， including shares investment， bonds investment and other investments.

　　Shares investment and other investments shall be accounted for by cost method or equity³⁷ method respectively， in accordance with different situation.

　　Bonds investment shall be accounted for according to actual amount paid. The interest accrued³⁸ contained in the actually paid amount shall be accounted for separately.

　　Where bonds are acquired at a premium³⁹ or discount， the difference between the cost and the face value of the bonds shall be amortized over the periods prior to maturity⁴⁰ of the bonds.

　　Interest accrued during the period of bonds investment and the difference between the amount of principal and interest received on bonds sold and their book cost and interest accrued but not yet received shall be accounted for as current profit and loss.

　　Long-term investment shall be itemized and shown separately in financial statements.

　　Long-term investment matured within a year shall be itemized in the financial statements separately under the caption⁴¹ of current assets.

　　Article 30 Fixed assets refer to the assets whose service life is over one year， unit value is above the prescribed standards and where original physical form remains⁴² during the process of utilization⁴³， including buildings and structures， machinery⁴⁴ and equipment， transportation equipment， tools and implements⁴⁵， etc.

　　Fixed assets shall be accounted for at historical cost as obtained. Interest of loan and other related expenses for acquiring fixed assets， and the exchange difference from conversion⁴⁶ of foreign currency loan， if incurred⁴⁷ before the assets having been put into operation or after been put into operation but before the final account for completed project is made， shall be accounted as fixed assets value； if incurred after that， shall be accounted into current profit or loss.

　　Fixed assets received as donations shall be accounted through evaluation⁴⁸ with reference to the market price of similar assets or with relevant evidences. Expenses incurred on receiving those donated fixed assets， shall be accounted for as the fixed assets value.

　　Fixed assets financed by leasing shall be accounted mutatis mutandis to self owned fixed assets and shall be indicated in notes to the financial statements.

　　Depreciation⁴⁹ on the fixed assets shall be accounted on the basis of the original cost， estimated residual⁵⁰ value， estimated useful life and working capacity， according to the straight line method or the working capacity （or output）method. If conforming to relevant regulations， accelerated depreciation method may be adopted.

　　The original value， accumulated depreciation and net value of fixed assets shall be itemized and shown separately in financial statement.

　　The actual expenditures incurred for the purpose of acquiring or updating and conducting technical reforming on the fixed assets， shall be itemized and shown separately in financial statement.

　　The fixed assets shall be taken inventory⁵¹ periodically. The net profit or loss incurred in discard and disposal， and also overage， shortage of fixed assets shall be accounted into current profit and loss.

　　Article 31 Intangible assets refer to assets that are used by an enterprise for a long term without material state， including patents， non-patented technology， trademark⁵²， copyrights， right to use land sites， and goodwill⁵³， etc.

　　Intangible assets purchased shall be accounted for at actual cost. Intangible assets received from investors⁵⁴ shall be accounted for at the assessed value recognized or the amount specified⁵⁵ in the contract. Self-developed intangible assets shall be accounted at actual cost in the development process.

　　All intangible assets shall be averagely amortized over the periods benefited from such expenditures and the unamortized balance shall be itemized and shown in financial statements.

　　Article 32 Deferred assets refer to all the expenses that cannot be accounted into current profit or loss totally but should be periodically amortized in future years， including starting expenses， expenditures incurred in major repair and improvement of the rented fixed assets， etc.

　　The expenses incurred to an enterprise during its preparation period shall be accounted for as starting expenses except those that shall be accounted into related property or material value. The starting expenses shall be averagely amortized in a certain period of years after the operation starts.

　　Expenditures incurred on major repair and improvement of the rented fixed assets shall be averagely amortized during the period of leasing.

　　All deferred assets shall be shown separately in accounting statements by its balance not yet amortized.

　　Article 33 Other assets refer to the assets except all items mentioned above.

　　Chapter IV Liabilities

　　Article 34 Liabilities are debts borne by an enterprise， measurable by money value， which is to be paid to a creditor⁵⁶ in assets， or services.

　　Article 35 Liabilities are generally classified into current liabilities and long-term liabilities.

　　Article 36 Current liabilities refer to the debts which will be paid off within one year or an operating cycle longer than a year， including short-term loans payable⁵⁷， notes payable， accounts payable， advances from customers， accrued payroll⁵⁸， taxes payable， profits payable， other payables， provision for expenses， etc.

　　All current liabilities shall be accounted for at actual amount incurred. Liabilities incurred but the amount to be estimated shall be accounted for a reasonable estimate， and then adjusted after the actual amount is given.

　　Balance of current liabilities shall be itemized and shown in financial statements.

　　Article 37 Long-term liabilities refer to the debts which will be redeemed⁵⁹ after one year or an operating cycle longer than a year， including long-term loans payable， bonds payable， long-term accounts payable， etc.

　　Long-term loans payable include the loans borrowed from financial institutions and other units. They shall be accounted independently according to the different characters of the loans and at the amount actually incurred.

　　Bonds shall be accounted for at par⁸ value. When bonds are issued in premium or discount， the difference between the amount actually obtained and the par value shall be accounted independently， and be written off periodically or increasing the interest expenses of every period prior to the maturity of bonds.

　　Long-term accounts payable include accounts payable for importing equipments， accounts payable for fixed assets financed by leasing. Long-term accounts payable shall be accounted at actual amounts.

　　Long term liabilities shall be itemized and shown as long-term loans， bonds payable， long-term accounts payable in financial statements.

　　Long-term liabilities to be matured and payable within one year shall be shown as a separate item under the caption of current liabilities.

　　Chapter V Owners' Equity

　　Article 38 Owners' equity refers to the ownership of the investors with respect to the net assets of an enterprise， including capital invested in by investors， capital reserve， surplus reserve， and undistributed profit， etc.

　　Article 39 Invested capital is the capital fund actually invested in the enterprise by its investors， whether it be in form of cash， physical goods or other assets for the operation of the enterprise.

　　Invested capital shall be accounted for at the amount actually invested.

　　Amount of shares issued by a share-holding enterprise shall be accounted for as equity at the face value of the shares issued.

　　Special appropriation⁶⁰ allocated⁶¹ by the government to an enterprise shall be accounted for as government investment unless otherwise stipulated.

　　Article 40 Capital reserve includes premium on capital stock， legal increment⁶² of property value through revaluation and value of donated assets accepted， etc.

　　Article 41 Surplus reserve refers to the reserve fund set up from profit according to relevant State regulations.

　　Surplus reserve shall be accounted for at the amount actually set up.

　　Article 42 Undistributed profit refers to the profit reserved for future distribution or to be distributed.

　　Article 43 Invested capital， capital reserve， surplus reserve and undistributed profit shall be itemized and shown in financial statements. Deficit⁶³ not yet made up， if any， shall be shown as a deduction item of owners' equity.

　　Chapter VI Revenue

　　Article 44 Revenue refers to the financial inflows to an enterprise as a result of the sale of goods and services， and other business activities of the enterprise， including basic operating revenue and other operating revenue.

　　Article 45 Enterprises shall rationally recognize revenue and account for the revenue on time.

　　Enterprises shall recognize revenue when merchandise shipped， service provided as well as money collected or rights to collect money obtained.

　　Revenue of long-term project contract （including labour service） shall be reasonably recognized， in general， according to the completed progress method or the completed contract method.

　　Article 46 Return of sales， sales allowances and sales discount shall be accounted for as deduction item of operating revenue.

　　Chapter VII Expenses

　　Article 47 Expenses refer to the outlays⁶⁴ incurred by an enterprise in the course of production and operation.

　　Article 48 Expenses directly incurred by an enterprise in production and provision of service， including direct labour， direct materials， purchase price of commodities and other direct expenses shall be charged directly into the cost of production or operation； indirect expenses incurred in production and provision of service by an enterprise is to be allocated into the cost of production and operation， according to certain standards of allocation.

　　Article 49 Administrative⁶⁵ and financial expenses incurred by enterprise's administrative sectors⁶⁶ for organizing and managing production and operation， purchase expenses on commodities purchased， and sales expenses for selling commodities and providing service， shall be directly accounted as periodic expense in the current profit and loss.

　　Article 50 The expenses paid in current period but attributable to the current and future periods shall be distributed and accounted into current and future periods. The expenses attributable to the current period but not yet paid in current period shall be recognized as accrued expenses of the current period.

　　Article 51 Enterprises shall generally calculate products cost each month.

　　Costing methods may be decided⁶⁷ by the enterprise itself according to the characteristics of its production and operation， type of production management and requirements of cost management. Once it is decided， no change shall be made arbitrarily.

　　Article 52 Enterprises shall calculate expenses and costs at the actual amounts incurred.

　　Those adopting the norm cost method， or planned cost method in accounting for daily calculation shall reasonably calculate the cost variances， and adjust them into historical cost at the end of the month while preparing financial statements.

　　Article 53 Enterprises shall convert the cost of commodities sold and service provided into operating cost accurately and timely， then account current profit and loss together with periodic expenses.

　　Chapter VIII Profit

　　Article 54 Profit is the operating results of an enterprise in an accounting period， including operating profit， net investment profit and net non-operating income.

　　Operating profit is the balance of operating revenue after deducting⁶⁸ operating cost， periodic expenses and all turnover⁶⁹ taxes， surtax and fees.

　　Net investment profit is the balance of income on external investment after deducting investment loss.

　　Net non-operating income is the balance of non-operating income which have no direct relevance⁷⁰ with the production and operation of an enterprise after deducting non-operating expenses.

　　Article 55 Loss incurred by an enterprise shall be made up according to the stipulated procedure.

　　Article 56 Items that constitute the profits and the distribution of profits shall be itemized and shown separately in the financial statements. A distribution of profit plan which is not yet approved is to be identified in notes to the financial statements.

　　Chapter IX Financial Reports

　　Article 57 Financial reports are the written documents summarizing and reflecting the financial position and operating results of an enterprise， including a balance sheet， an income statement， a statement of changes in financial position （or a cash flow statement） together with supporting schedules， notes to the financial statements， and explanatory statements on financial condition.

　　Article 58 A balance sheet is an accounting statement that reflects the financial position of an enterprise at a specific date.

　　Items of the balance sheet should be arranged according to the categories of assets， liabilities and owners' equity， and shall be shown item by item.

　　Article 59 An income statement is an accounting statement that reflects the operating results of an enterprise within an accounting period， as well as their distribution.

　　Items of the income statement should be arranged according to the formation and distribution of profit， and shall be shown item by item.

　　Items of the profit distribution part of the income statement may be shown separately in a statement of profit distribution.

　　Article 60 A statement of changes in financial position is an accounting statement that reflects comprehensively the sources and application of working capital and its changes during an accounting period.

　　Items of the statement of changes in financial position are divided into sources of working capital and application of working capital. The difference between the total sources and total applications is the net increase （or decrease） of the working capital. Sources of working capital are subdivided⁷¹ into profit sources and other sources； applications of working capital are also subdivided into profit distribution and other applications， all shall be shown item by item.

　　An enterprise may also prepare a cash flow statement to reflect the changes in its financial position.

　　A cash flow statement is an accounting statement that reflects the condition of cash receipts and cash disbursements of an enterprise during a certain accounting period.

　　Article 61 Financial statements may， if necessary， be arranged in a way that the previous accounting period can be compared to the subsequent periods.

　　When so arranged， if the classification and contents of statement items of the previous accounting period are different from that of the current period， such items shall be adjusted in conformity⁷² with that of the current period.

　　Article 62 Financial statements shall be prepared from the records of account books， completely recorded and correctly checked and other relevant information. It is required that they must be true and correct in figures， complete in contents and issue in time.

　　Article 63 Consolidated⁷³ financial statements shall be prepared by the enterprise， where it owns 50% or more of the total capital of the enterprise it has invested or otherwise owns the right of control over the invested enterprise. Financial statements of an invested enterprise engaged in special line of business not suitable for consolidation⁷⁴， may not be consolidated， but they shall be submitted together.

　　Article 64 Notes to the financial statements are explanatory to related items in the financial statement of the enterprise concerned so as to facilitate understanding of the contents of the statements， the contents of which shall mainly include： major accounting methods adopted； changes in accounting methods， the reasons for the changes， and their impact on the financial position and operating results of the enterprise； description of unusual items； detailed⁷⁵ information relating to major items listed in the financial statements； and any other explanations necessary to provide users with a clear view and understanding of the financial statements.

　　Chapter X Supplementary⁷⁶ Provisions

　　Article 65 The Ministry of Finance shall be responsible for the interpretation⁷⁷ of these Criteria.

　　Article 66 These Criteria shall be effective as of July 1， 1993.

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