As far as Chinese accounting is
concerned, even if there is a conceptual framework in Chinese GAAP, i.e. the 2006 Basic
Standard, the 2006 Basic Standard is never referred to in the body of specific standards
(except being mentioned once in Article 1 of each specific standard), let alone being
applied to explaining and upholding specific standards, moreover Chinese GAAP provides
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the detailed bookkeeping rules, from this point, it could be shown that there is the concept
of ‘do bookkeeping’ in Chinese accounting (that could mean what Chinese accounting
standard setters are thinking over inclines to be ‘do bookkeeping’).