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China Accounting Alert – June 2022 – MOF issues provisions regarding the accounting treatment for asset management products
China Accounting Alert is the monthly executive update for Mainland China and Hong Kong on recent developments in local and international financial reporting, and related hot topics and emerging issues. China Accounting Alert is designed to help keep you one step ahead by providing easy access to the information you need, all in one place. It is not intended to be a substitute for reading the financial reporting standards or other appropriate authoritative guidance, to which reference should be made for a full understanding of the relevant subject matters.
Matters covered in this issue include: MOF issues provisions regarding the accounting treatment for asset management products; The Accounting Regulatory Department of the MOF releases the second batch of Q&As on implementing accounting standards for business enterprises in 2022; The Accounting Regulatory Department of the MOF releases its interpretation on issues related to the application of period-end VAT credit refund policies to requirements on the accounting treatments for VAT; etc.
Please feel free to contact your EY client service professionals for further assistance if you find the provision of China Accounting Alert have an impact on your business operations.