Notice - "Basic Standard Governmental Accounting Standards" on forwarding

Notice - "Basic Standard Governmental Accounting Standards" on forwarding

Ref: Shanghai Accounting [2015] No. 65
Issued: Shanghai Finance Bureau
Date issued: 2015-11-16

The municipal department in charge of the budget, the county Finance Bureau, the Municipal Bureau of Financial Supervision:
Now "Governmental Accounting Standards - Basic Standards" (Ministry of Finance Order No. 78, hereinafter referred to as "basic principles") transmitted to you, please be combined with the following requirements in accordance with the execution.
First, strengthen organization and leadership, in an orderly way "basic principles" of successful implementation
Implementation of the "basic principles" is an important part of accounting management is to improve the level of administrative units and strengthen an accounting administrative institutions supervision and management of an important means. All units must fully understand the importance of this work, strengthen organization and leadership attaches great importance to put in place to ensure that relevant work.
Second, to strengthen publicity and training, lay the foundation for the implementation of the "basic principles" of
Each unit should publicize training "basic principles" as a central task of the current and future period accounting management. In the propaganda and training, we should pay attention for the administrative units of accounting personnel, accounting personnel department in charge of propaganda and training, but also pay attention to the person in charge for the administrative institutions, authorities responsible for human awareness training to ensure that people responsible for accounting and related workers understanding "basic criteria" master "basic principles" of the spirit, principles and the specific provisions.
Third, strengthen the guidance and timely solutions to the process of the implementation of the "Basic Guidelines" related problems
All units must use a meeting regularly exchange information and other means, to follow closely the "basic principles" implementation, administrative institutions to help solve specific problems "basic norms" encountered in the implementation to ensure that the "basic principles" in their respective administrative unit successfully implemented.
Shanghai Finance Bureau
November 16, 2015

Governmental Accounting Standards - Basic Standards (Ministry of Finance Order No. 78)
"Governmental Accounting Standards - Basic Standards" has been the Ministry of Finance Ministry of Finance meeting, is hereby promulgated for implementation from January 1, 2017.
Minister: Lou Jiwei
October 23, 2015
Governmental Accounting Standards - Basic Standards
Chapter I General Provisions
Order to standardize the accounting of government to ensure the quality of accounting information, according to "People's Republic of China Accounting Law" and "People's Republic of China Budget Law" and other relevant laws and administrative regulations, the development of the guidelines.
This Standard applies to all levels of government, departments and units (hereinafter referred to as government accounting entity).
The aforesaid various departments and units refers to the level of government financial departments occurs directly or indirectly, budgetary relations of the state organs, the armed forces, political parties, social organizations, institutions and other units.
Execution units and troops, have been included in corporate financial management system of "non-profit organizations accounting system" of social groups, these guidelines do not apply.
Article government accounting consists of budget accounting and financial accounting.
Implementation of budget accounting cash basis, while the State Council, in accordance with its provisions.
Financial implement accrual basis.
Article Government Accounting Standards and its application specific directories, government accounting system, should follow these guidelines formulated by the Ministry of Finance.
Article government accounting entity shall prepare accounts and financial reports.
Target accounts report is to provide the user with the government to report on the accounts relating to the implementation of the budget information, a comprehensive reflection of the government accounting entity budget revenue and expenditure of the results of annual accounts report will help users to monitor and manage, and for the preparation of the subsequent year budget reference and basis. Government report on the accounts on behalf of users, including people's congresses at all levels and their standing committees, governments and relevant departments at all levels of government accounting entity itself, the public and other stakeholders.
Objective of financial reporting is to provide users of financial statements with the government's financial position, operating conditions (including operating costs, the same below) for information and cash flows, reflecting the government accounting entity public accountability fulfillment, financial reporting helps to use who make decisions or carry out supervision and management. Government users of financial reports at all levels including the General Assembly People's Congress Standing Committee, creditors, governments and relevant departments at all levels of government accounting entity itself and other stakeholders.
Article government accounting entity shall conduct accounting of their own economic activities or events occurred.
Article government accounting government accounting entity should continue to run as a precondition.
Article VIII The Government should define the fiscal accounting period, phased settlement of accounts, preparation of accounts and financial reports as required.
It is divided into at least monthly and annual accounting period. Start and end date of the fiscal year, and other monthly accounting period to the Gregorian calendar.
Article IX The Government accounting is to be reporting currency is Renminbi. Foreign currency transaction occurs, it should be about the amount of foreign currency are translated into RMB amount measured, while the registration of foreign currency amounts.
Article X The Government should adopt accounting debit and credit accounting.
The second chapter the quality of government accounting information requirements
Article XI shall be subject to government accounting business or economic matters which actually occur as a basis for accounting, faithfully reflect the accounting elements and results, to ensure that accounting information is true and reliable.
All economic and business matters or Article XII of the government accounting entity shall occur unified into accounting, accounting information to ensure the government is able to reflect the accounting entity budget performance and financial status, operation and cash flow.
Article XIII accounting information provided by the government accounting entity shall fulfill reflects the Government Accounting and public accountability as well as the main users of the report decisions or supervision, management needs related to help users of the report on the government accounting entity past, present or future circumstances to evaluate or predict.
Article XIV of the Government Accounting subject to economic or business matters that have occurred, shall timely accounting, not earlier or delayed.
Article 15 Account information provided by the government accounting entity should be comparable.
The same or similar business or economic matters the same government body in different accounting periods occur, should adopt consistent accounting policies shall not be changed. Case of alteration, the content should be changed on the grounds and its impact will be described in the notes.
The same or similar business or economic matters different government accounting entity occurred, should adopt consistent accounting policies to ensure consistent government accounting information caliber mutually comparable.
Article XVI government accounting accounting information provided should be subject clear, easy to report users understand and use.
Article XVII government accounting entity shall economy real economy or business conduct accounting matters, not limited to the legal form of business or economic matters as the basis.
Chapter III government budget accounting elements
Article XVIII government budget accounting elements include budget revenues, budget expenditures and budget balances.
Article 19 A budget revenue refers to the government accounting entity within the budget year legally obtained and included in the budget management of cash inflows.
Article XX general budget revenue is recognized when actually received, the actual measurement of the amount received.
Article XXI budget expenditure is the government accounting entity occurrence and included cash outflows of budget management in accordance with the law within the budget year.
Article 22 The budget expenditures are generally recognized at the time of actual payment, the actual measurement of the amount paid.
Article 23 refers to the budget surplus in the government budget accounting entity annual budget balance net of capital expenditure, the budget and the balance of funds accumulated over the years.
Article 24 The budget surplus include surplus funds and carry-over funds.
Surplus funds refers to the end of the implementation of the annual budget, the budget revenues actual completion of the remaining funds after deducting budgetary expenditure and the number of carry-over funds.
It refers to year-end carry-over funds expenditure budget arrangements for the project has not been completed or not performed for any reason, and the use of funds under the need to continue to use the original.
Article 25 in line with budget revenues, budget expenditures and budget balances definition and recognition criteria for projects should be included in the government accounts statements.
Chapter IV Government Financial Accounting Elements
Article 26 Governmental Financial Accounting elements include assets, liabilities, net assets, revenues and expenses.
Section assets
Article 27 refers to the government assets over the past accounting entity or economic and business matters formed by the government accounting entity controlled, it is expected to generate economic benefits or service potential inflow of economic resources.
Service potential is the potential ability of governments to provide public assets accounting entities use products and services to fulfill government functions.
Inflow of economic benefits flowing into the performance of cash and cash equivalents, or reduce the outflow of cash and cash equivalents.
Article 28 in accordance with government accounting entity asset liquidity, divided into current assets and non-current assets.
Current assets that are expected within one year (including one year) or can be consumed realizable assets, including money funds, short-term investments, accounts receivable, prepayments, inventories and the like.
Non-current assets are assets other than current assets, including fixed assets, construction in progress, intangible assets, long-term investments in public infrastructure, government reserve assets, cultural heritage assets, natural resources and affordable housing assets.
Article 29 The economic resources meet the definition of assets of the criteria of Article 27, when both of the following conditions are recognized as assets:
(A) service potential associated with the economic resources or is likely to achieve the economic benefits are likely to flow into the government accounting entity;
(Ii) the cost or value of the economic resources can be measured reliably.
Article 30 asset measurement attributes including historical cost, replacement cost, current value, the fair value and the nominal amount.
At historical cost, according to the amount of cash assets acquired when paid or pay fair value for the price.
In the replacement cost, according to the current asset purchase identical or similar metering the amount of cash needed to pay for the assets.
Measured at present value, discounted assets measured at the amount of net cash inflows from continuing use of estimated and final disposal arising in the future.
Under the fair value of assets according to market participants in an orderly transaction at the measurement date occurred in the sale of assets that can be received in price measurement.
Unable to use the measuring properties, in nominal amount (ie 1 yuan) measurement.
31 Governmental Accounting body of assets at the time of measurement, should generally be historical cost.
Replacement cost, present value and fair value should be determined to ensure that the amount of assets that can be sustained reliably measured.
Article 32 The project meets the definition of assets and asset recognition criteria should be included in the balance sheet.
Section liabilities
Article 33 refers to the government debt accounting entity past economic business or event, expected to result in outflow of economic resources the government accounting entity current obligation.
Present obligation refers to the obligation of the government accounting entity under the current conditions are assumed. Economic and business obligations or events occur in the future does not belong to the formation of the current obligation, it should not be recognized as a liability.
Liabilities Article 34 in accordance with government accounting body mobility, divided into current liabilities and non-current liabilities.
Current liabilities are liabilities that are expected to be repaid within one year (including one year), including payables and advance payments, employee benefits payable dues and so on.
Non-current liabilities refer to liabilities other than current liabilities, including long-term accounts payable in government bonds and government-guaranteed debt formed in accordance with the law and so on.
Article 35 in line with the obligations and liabilities of the defined criteria of Article 33, when both of the following conditions are recognized as liabilities:
(A) performance of the obligation is likely to lead to economic resources containing economic benefits or service potential outflow of government accounting entity;
(B) the amount of the obligation can be measured reliably.
Article 36 measurement attributes liabilities include historical cost, present value and fair value.
At historical cost, according to the amount of money or assets and liabilities of current obligations and actually received, or assume the existing obligations of the contract amount, or the measurement of cash to repay the debts to be paid in accordance with the expected.
In present value measurement, liabilities are measured at the amount expected discounted future net cash outflows in the period must be repaid.
At fair value, and liabilities according to market participants in an orderly transaction at the measurement date occurred, the transfer price measurement liabilities are paid.
Article 37 of the government accounting entity liabilities are measured at the time, it should generally be historical cost.
Using present value, fair value should be determined to ensure that the amount of debt that can be sustained reliably measured.
Article 38 The project meets the definition of liabilities and liabilities are recognized conditions should be included in the balance sheet.
Third quarter net assets
Article 39 refers to the net assets of the government accounting entity assets net of liabilities.
Article 40 The amount of net assets depending on the measurement of assets and liabilities. Article 41 The net assets of the project should be included in the balance sheet.
Fourth quarter income
Article 42 refers to earnings reports led to the government accounting entity net assets increased by containing or service potential economic benefits of economic resources inflows during the period.
Article 43 The recognition of revenue should meet the following conditions:
(A) economic resources containing economic benefits or service potential income-related government accounting is likely to flow into the body;
(B) containing service potential or economic interests of the economy will lead to increased resource flows to the government accounting entity assets or liabilities decreased;
(Iii) inflows can be measured reliably.
Article 44 The project meets the definition of income and revenue recognition, revenue should be included in the Schedule of Fees.
V costs
Article 45 refers to the cost reporting period, resulting in reduction of the net assets of the government accounting entity, comprising the outflow of economic benefits or service potential economic resources.
It confirmed that Article 46 Cost shall meet the following conditions:
(A) economic resources containing economic benefits or service potential costs associated with the government accounting entity is likely to flow out;
(B) contain economic benefits or service potential outflow of economic resources will lead to reduction of government accounting entity assets or liabilities increased;
(Iii) the amount of outflow can be reliably measured.
Article 47 in line with the definition of cost and expense recognition project conditions should be included in income fee schedule.
Chapter V government accounts and financial reports
Article 48 The Government Final Report is a comprehensive reflection of the government budget revenue and expenditure accounting year the results of the main file.
Government report on the accounts should include accounts statements and other relevant information and materials should be reflected in the accounts of the report.
Government report on the accounts and the preparation of the specific content requirements, the Ministry of Finance separately.
Article 49 Government Financial Report reflects the financial position of the government accounting entity to a specific date and operation and cash flows of an accounting period information file.
Government financial report shall include the financial statements and other relevant information and data should be disclosed in the financial statements.
Article 50 of the Government Financial Reporting consolidated financial statements include government and government financial reports.
The Government refers to the consolidated financial statements prepared by the Government's financial sector, which reflects the overall financial position of governments at all levels, sustainability reporting and financial long-term operation.
Government financial report refers to various government departments, financial reports prepared in accordance with the provisions of each unit.
Article 51 of the financial statements is a structural representation of the government accounting entity's financial condition, operating conditions and cash flow information.
The financial statements include the financial statements and notes.
Financial statements shall include at least the balance sheet, income and cash flow costs.
Government accounting entity shall prepare consolidated financial statements in accordance with relevant regulations.
Article 52 The balance sheet reflects the government accounting entity reports in the financial situation of a particular date.
Article 53 The revenue and expense sheet reflects government accounting body in a certain accounting period the operation of reports.
Article 54 Statement of Cash Flows reflects the government accounting entity reports in a certain accounting period Cash and cash equivalents inflows and outflows of.
Article 55 is a further explanation of the notes in the balance sheet, revenue and expense, cash flow statement and other statements made by the project, as well as the failure to report these items listed in the instructions.
Article 56 The government prepared a major report on the accounts on a cash basis as the basis for budget accounting generated data.
The preparation of the government's main financial reports on an accrual basis, in order to generate the financial accounting data.
Chapter VI Supplementary Provisions
Article 57 The present guidelines alleged accounting, including accounting recognition, measurement, recording and reporting all aspects covering fill accounting documents, registration of accounting books, the whole process of preparing the report.
Article 58 of the guidelines referred to budget accounting, refers to a cash basis based on the total income and total expenditure of government accounting entity occurred during the execution of the budget for accounting, primarily to reflect and monitor the implementation of the budget revenue and expenditure accounting.
Article 59 of the Financial Accounting Standards referred to, it refers to the accrual basis of all economic transactions or events occurred in the government accounting entity for accounting, mainly reflecting government oversight and accounting entity's financial condition, and operating conditions accounting cash flow and the like.
Article 60 of the guidelines mentioned cash basis, refers to the actual cash receipts and payments for the flag to determine the basis of the accounting period income and expenditure. Where in the current cash income and expenses actually received, it shall be as current income and expenditure; those who do not belong to the current cash income and expenses, shall not, as current income and expenses.
Article 61 of the guidelines referred to the accrual basis, refers to the obligation to obtain the right to receive payment or payments to be determined on the basis of accounting flag current income and expenses. Those who have achieved the current period income or expense and burden should have occurred, regardless of whether the money receipts, should be as current income and expenses; those who do not belong to the current income and expenses, even if the money is already in the current payment, nor It should be as current income and expenses.
Article 62 of the Code shall come into effect from January 1, 2017.