I. Development of China I. Development of China
’s Accounting s Accounting
Standards and Its Convergence with IFRSs Standards and Its Convergence with IFRSs
(II) Proceed with all (II) Proceed with all-round plan round plan
z The Chinese Accounting Standards System is composed of The Chinese Accounting Standards System is composed of
Basic Standard, 38 specific standards and Application Basic Standard, 38 specific standards and Application
Guidance Guidance
z The development of accounting standards requires a The development of accounting standards requires a
technical team and a well technical team and a well-planned setting process