• Fri
  • Dec 19, 2014
  • Updated: 10:28pm

International Financial Reporting Standards

Mind the GAAP when investing on mainland

Foreign investors need to be mindful of the Chinese Accounting Standards for Business Enterprises, the mainland's revised accounting standards otherwise known as the new PRC GAAP, despite government efforts to converge them with the International Financial Reporting Stand

Thursday, 19 April, 2012, 12:00am

Crucial period for accounting policies ahead

International Financial Reporting Standards Foundation trustees said the next 18 months would be a vital period in the global adoption of accounting policies as the United States and Japan made their decisions.

9 Jun 2011 - 12:00am

World becomes a smaller place

It's been four years since the mainland began formally adopting a significant number of accounting standards laid out by the International Accounting Standards Board (IASB).

21 Apr 2011 - 12:00am

Language of business

Adopted by more than 100 countries and jurisdictions, including Hong Kong, International Financial Reporting Standards (IFRS) are fast becoming the global accounting language.

20 Sep 2010 - 12:00am

Helping hand

For many of Hong Kong's small- and medium-sized enterprises (SMEs), the effort to remain compliant with financial and reporting regulations can be a continuing struggle.

20 Sep 2010 - 12:00am

Rules governing IPOs must be made clear

The convergence of international and domestic accounting principles used on the mainland, and reconciling the significant differences of Companies Acts in various jurisdictions are among the main issues to be addressed by the China Securities Regulatory Commission (CSRC) before the launch of the international board in the Shanghai Stock Exchange.

21 Apr 2010 - 12:00am

HK prepares to adopt new rules specifically for SMEs

Small private companies that use the city's full financial reporting standards, the same set of rules used by publicly-listed companies, are struggling to meet the reporting requirements as standards become more complex.

21 Apr 2010 - 12:00am

New standard for small companies is easier to follow

The International Financial Reporting Standard (IFRS) for small and medium-sized enterprises (SMEs), issued by the International Accounting Standards Board in July, is a huge step forward, according to the standard's author Paul Pacter, director, IFRS global office, Deloitte China. He is also director of standards for SMEs at the standards board.

24 Sep 2009 - 12:00am

Setting standards is a global trend

The movement towards International Financial Reporting Standards (IFRS) as a basis for financial reporting is a global trend that is no longer easily dismissed. More than 113 jurisdictions now permit or require financial reporting under IFRS.

30 Sep 2008 - 12:00am

US prepares for major change

SEC decision means investors will be able to craft decisions based on a single set of principles rather than a maze of interpretations

30 Sep 2008 - 12:00am

Making the right connection

Mainland accounting and auditing standards are expected to see full convergence with international standards later this year.

With the signing of a joint declaration between Hong Kong and the mainland's accounting standards bodies, Chinese accounting standards are expected to fully converge with the rest of world in the first half of this year at the latest.

18 Jan 2008 - 12:00am

China firms take rules in their stride

Listed companies in China have made considerable progress in improving the transparency and international comparability of their financial statements, according to Ernst & Young partner (technical), Alden Leung.

20 Sep 2007 - 12:00am

Ping An expects interim profit to double

Ping An Insurance yesterday said its first-half net profit more than doubled from a year earlier. In the first half of last year, net profit was 3.95 billion yuan and earnings per share were 64 fen, based on mainland accounting standards.

It reported a first-half net profit of 4.16 billion yuan last year based on international accounting standards.

24 Jul 2007 - 12:00am

Adding value, not just pain

Each year, the Association of Chartered Certified Accountants (ACCA) Hong Kong selects one broad theme for its annual conference to provide a clearer focus and unify the day's keynote speeches, presentations and panel discussions.

23 Jun 2007 - 12:00am

A steady move towards meeting global standards

China took a significant step forward to closer integration with the global economy at the beginning of this year when new accounting standards came into effect.

26 Apr 2007 - 12:00am

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