US GAAP vs. PRC GAAP

1. Overview of US GAAP

Components of US GAAP

- Financial Accounting Standards Board / Financial Accounting Standards

- Accounting Research Bulletin

- Accounting Principles Board

- Emerging Issues Task Force

- Statements of Position from AICPA (American Institute of Certified Public Accountants)

- SEC (Securities and Exchange Commission) rules


Hierarchy of pronouncements under US GAAP

- FASB, APB & ARB

- FASB Technical Bulletin, AICPA Statements of Position, Audit and Accounting Guides, Practice Bulletins

- SEC Practice and Emerging Issues Task Force

- Others


Likely future developments



2. PRC Accounting Rules and Systems


PRC accounting regulatory system

- Accounting Law

- Regulations on Financial Reporting of Enterprises

- Accounting Standards for Business Enterprise

- Accounting system for Business Enterprise


Specific Accounting Standards

- Brief introduction on specific accounting......

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Title: Accounting
Approximate Word Count: 306
Approximate Pages: 2 (250 words per double-spaced page)

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