英文版会计政策

1、illustrative financial statements under new prc gaapfor companies not listed on prc stock exchanges(english translation)instructions: 1 since the issuance of china accounting standards for business enterprises (cas, also known as new prc gaap) by the ministry of finance (mof) in 2006, various timeta

2、bles for adoption of cas have been progressively announced by different prc regulatory bodies or authorities. medium or large enterprises not included in such a mandatory timetable may also opt to adopt cas. a summary of timetable on adopting cas by enterprises is available on the ppd: prc technical

3、 intranet site under “accounting regulations”. teams may refer to the summary timetable and relevant notices for the details.at the current stage, some enterprises have adopted cas while some enterprises have adopted old prc gaap (i.e. accounting standards for business enterprises-basic standard, sp

4、ecific accounting standards issued before 2006 and the accounting regulations for business enterprises which were issued by the mof). dpp has prepared three sets of illustrative financial statements under prc gaap, as follows, to meet the different requirements when auditing different enterprises:&#

5、183; illustrative financial statements under old prc gaap· illustrative financial statements under new prc gaap for companies listed on prc stock exchanges· illustrative financial statements under new prc gaap for companies not listed on prc stock exchanges.2 this set of illustrative finan

6、cial statements, i.e. the third one in the above list, is primarily prepared as a guide for companies adopting cas but not listed on prc stock exchanges. such unlisted companies include medium or large enterprises registered in shenzhen, and certain central state-owned enterprises and foreign invest

7、ment enterprises. 3 only the chinese version of the financial statements is regarded as the statutory financial statements under the relevant prc laws and regulations. 4 as this is an english translation, staff should ensure that the contents of these financial statements are the same as the origina

8、l chinese statutory financial statements except for the caveat on the flysheet.5 this set of illustrative financial statements is based on the disclosure requirements of cas. if any items or notes on the illustrative financial statements are not applicable or are immaterial to a specific enterprise,

9、 deletions of these items or notes are acceptable.6 the illustrative financial statements are primarily prepared for general enterprises and common transactions and events. they do not include all disclosure requirements and therefore should not be used as a disclosure checklist. please refer to prc

10、 9b “disclosure checklist under new prc gaap” for a summary of disclosure requirements for general enterprises when adopting cas. furthermore, these illustrative financial statements may need substantial modifications for enterprises in special industries (e.g. insurance companies, commercial banks

11、and securities companies) in accordance with cas 30 and cas 33.7 please refer to ppd circular no.07-07 procedures for client approval of prc financial statements and other reports of major prc assurance engagements and ppd circular no.03-15 policies and procedures for issuing audit reports by the pr

12、c offices for further guidance regarding the approval of financial statements and signing of audit reports. 8 the prc statutory financial statements should be signed and stamped by the legal representative (法定代表人), the person in charge of the accounting affairs and the head of the accounting departm

13、ent in accordance with accounting law of the prc. however, when it is impractical for any of these individuals to sign, we may accept the signee to authorise a representative to sign on his or her behalf (we should request an authorisation letter from the signee).9 the reference number of an audit r

14、eport should indicate the originating office of an engagement (i.e. a stands for the beijing office, b stands for the shanghai office, c stands for the guangzhou office and d stands for the shenzhen office). for reports issued for the hong kong office, an h should be added after a, b, c or d. for in

15、stance, ah refers to reports issued in beijing for the hong kong office. staff should delete the symbols not applicable for the engagement. 10 article numbers of cas are noted in the left margins of the illustrative financial statements for reference. for example:cas30.4 = article 4 of cas 30 (企业会计准

16、则第30号中的第4条)cas30.ag. iv (vi)2 = point 2 of article 6 of item 4 of the application guidance of cas 30 (企业会计准则第30号应用指南中的第四条第(六)项第2点)item 2 of bulletin no.2 = item 2 of the cas bulletin no.2 (企业会计准则解释第2号第2项)ig of cas, p462 = page 462 of the interpretation guidance of cas published in 2008 (企业会计准则讲解2008

17、第462页)q&a ii of pwg opinion 1= item 2 of the opinion 1 issued by professional working group (pwg) (“企业会计准则实施问题专家工作组”颁布的专家工作组意见第1号的问答2)article numbers of cas which are relevant to recognition and measurement requirements rather than presentation and disclosure requirements are noted using italic

18、format (e.g. cas18.6) in the left margins. 11 the following table summarises the key changes to the 2008 version of illustrative financial statements as a result of rules newly issued by the ministry of finance in 2009.regulations newly issued in 2009treatment in illustrative financial statements 1m

19、ofs reply to “accounting treatments relating to a partial disposal of interests in subsidiaries without a loss of control” (caikuaibian 2009 no.14)the related content is added in accounting policies note 3(1)(c).2cas bulletin no.3 (caikuai 2009 no. 8)1)dividend recognition under cost methodit is pre

20、sented as a change of accounting policy (see note 4(1), footnote 32 is also added. 2)accounting treatment on safety fees"specific surplus reserve" is added in balance sheet and statement of changes in owners equity. note 46 is also added accordingly. 3)additional guidance on how to account

21、 for relocation compensation received from the governmentit is reminded in footnote 62, 83 and 126 of the chinese version. 4)guidance on vesting and non-vesting conditions of a share-based payment schemeit is reminded in footnote 53, 83 and 131 of the chinese version.5)accounting of revenue arising

22、from agreements for the construction of real estateit is reminded in footnote 83 of the chinese version. 6)presentation and disclosure of comprehensive incomeit is presented as a change of accounting policy (see note 4). the format of income statement is modified and the breakdown is disclosed in no

23、te 58. 7)segment reportingit is presented as a change of accounting policy (see note 4). note 3(22) and note 63 are also modified. 3mof notice on preparing 2009 annual reports of enterprises adopting cas (caikuai 2009 no.16)1)determination of discount rate used in the measurement of termination bene

24、fit obligation it is reminded in footnote 56 of the chinese version.2)amendment to the statement of changes in owners equity and specification of the disclosure requirements on other comprehensive incomethe format of statement of changes in owners equity is modified and the breakdown is disclosed in

25、 note 58.12 the addresses of the signing offices are as follows: kpmg huazhen毕马威华振会计师事务所beijing, the peoples republic of china中国 北京kpmg huazhen shanghai branch毕马威华振会计师事务所上海分所shanghai, the peoples republic of china中国 上海kpmg huazhen guangzhou branch毕马威华振会计师事务所广州分所guangzhou, the peoples republic of chi

26、na中国 广州kpmg huazhen shenzhen branch毕马威华振会计师事务所深圳分所shenzhen, the peoples republic of china中国 深圳feb 2010for internal use only(for companies adopting cas - but not listed on prc stock exchanges)abc company limited by shares english version of financial statements for the year 1 january 2009 to 31 decem

27、ber 2009if there is any conflict of meaning between the chineseand english versions, the chinese version will prevailfeb 2010for internal use onlyauditors reportkpmg-abcdahbhchdh(200x)ar no.xxxxall shareholders the board of directors joint management committee all owners of abc company limited by sh

28、ares: we have audited the accompanying financial statements of abc company limited by shares (“the company”) on pages 1 to xx, which comprise the consolidated balance sheet and balance sheet as at 31 december 2009, the consolidated income statement and income statement, the consolidated statement of

29、 changes in owners shareholders equity and statement of changes in owners shareholders equity, the consolidated cash flow statement and cash flow statement for the year then ended, and notes to the financial statements. management's responsibility for the financial statementsthe companys managem

30、ent is responsible for the preparation of these financial statements in accordance with china accounting standards for business enterprises issued by the ministry of finance of the peoples republic of china. this responsibility includes: designing, implementing and maintaining internal control relev

31、ant to the preparation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.auditors responsibilityour responsibility is to exp

32、ress an opinion on these financial statements based on our audit. we conducted our audit in accordance with china standards on auditing for certified public accountants. those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance as

33、to whether the financial statements are free from material misstatement.an audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. the procedures selected depend on the auditor's judgment, including the assessment of the risks

34、of material misstatement of the financial statements, whether due to fraud or error. in making those risk assessments, the auditor considers internal control relevant to the entity's preparation of the financial statements in order to design audit procedures that are appropriate in the circumsta

35、nces, but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control. an audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presenta

36、tion of the financial statements.we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.auditors report (continued) the same report series no. as on prior page opinionin our opinion, the financial statements comply with the requirem

37、ents of china accounting standards for business enterprises issued by the ministry of finance of the peoples republic of china and present fairly, in all material respects, the consolidated financial position and financial position of the company as at 31 december 2009, and the consolidated results

38、of operations and results of operations and the consolidated cash flows and cash flows of the company for the year then ended.kpmg huazhencertified public accountantskpmg huazhen shanghai branchregistered in the peoples republic of chinakpmg huazhen guangzhou branchkpmg huazhen shenzhen branchname o

39、f cpa1name of cpa2 address of the signing office as given in instruction 12datefeb 2010for internal use onlyreferencecas 30.agcas 33.agitem 3&7 of bulletin no.3abc company limited by sharesconsolidated balance sheet as at 31 december 2009(expressed in renminbi yuan)note20092008assetscurrent asse

40、tscash at bank and on hand7financial assets held for trading8bills receivable9accounts receivable10prepayments11interest receivabledividends receivableother receivables12inventories13non-current assets due within one year14other current assets15total current assets-non-current assetsavailable-for-sa

41、le financial assets16held-to-maturity investments17long-term receivables18long-term equity investments19investment property20fixed assets 21construction in progress22construction materials23intangible assets24development costs25goodwill26long-term deferred expenses27deferred tax assets28other non-cu

42、rrent assets29total non-current assets-total assetsthe notes on pages xx to xx form part of these financial statements.abc company limited by sharesconsolidated balance sheet as at 31 december 2009 (continued)(expressed in renminbi yuan)note20092008liabilities and owners shareholders equitycurrent l

43、iabilitiesshort-term loans32financial liabilities held for trading33bills payable34accounts payableadvances from customersemployee benefits payable35taxes payable5(3)interest payabledividends payableother payables36non-current liabilities due within one year37other current liabilities38total current

44、 liabilities-non-current liabilitieslong-term loans39debentures payable40long-term payables41special payables42provisions43deferred tax liabilities28other non-current liabilitiestotal non-current liabilities-total liabilities-the notes on pages xx to xx form part of these financial statements.abc co

45、mpany limited by sharesconsolidated balance sheet as at 31 december 2009 (continued)(expressed in renminbi yuan)note20092008liabilities and owners shareholders equity (continued)owners shareholders equitypaid-in capital share capital44capital reserve45less: treasury sharesspecific reserve46surplus r

46、eserve47retained earningstranslation differences of financial statements denominated in foreign currency total equity attributable to equity holdersshareholders of the companyminority interests total owners shareholders equity-total liabilities and owners shareholders equitythese financial statement

47、s have been approved by the board of directors of the company on date. namelegal representativenamethe person in charge of accounting affairsnamethe head of the accounting department (company stamp)(signature and stamp)(signature and stamp)(signature and stamp)the notes on pages xx to xx form part o

48、f these financial statements.abc company limited by sharesbalance sheet as at 31 december 2009(expressed in renminbi yuan)note20092008assetscurrent assetscash at bank and on hand7financial assets held for trading8bills receivable9accounts receivable10prepayments11interest receivabledividends receiva

49、bleother receivables12inventories13non-current assets due within one year14other current assets15total current assets-non-current assetsavailable-for-sale financial assets16held-to-maturity investments17long-term receivables18long-term equity investments19investment property20fixed assets 21construc

50、tion in progress22construction materials23intangible assets24development costs25goodwill26long-term deferred expenses27deferred tax assets28other non-current assets29total non-current assets-total assetsthe notes on pages xx to xx form part of these financial statements.abc company limited by shares

51、balance sheet as at 31 december 2009 (continued)(expressed in renminbi yuan)note20092008liabilities and owners shareholders equitycurrent liabilitiesshort-term loans32financial liabilities held for trading33bills payable34accounts payableadvances from customersemployee benefits payable35taxes payabl

52、e5(3)interest payabledividends payableother payables36non-current liabilities due within one year37other current liabilities38total current liabilities-non-current liabilitieslong-term loans39debentures payable40long-term payables41special payables42provisions43deferred tax liabilities28other non-current liabilitiestotal non-current liabilities-total liabilities-the notes on pages xx to xx form part of the