Chinese GAAP definition

Chinese GAAP means Chinese generally accepted accounting principles in effect from time to time applied consistently throughout the periods involved.
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Chinese GAAP means generally accepted accounting principles as recognized by the People’s Republic of China, applied on a consistent basis.
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Chinese GAAP means generally accepted accounting principles in China as in effect on the date hereto.
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Examples of Chinese GAAP in a sentence

  • Difference of the net profit and net assets disclosed in financial report, under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicableThe Company had no difference of the net profit or net assets disclosed in financial report, under either IAS (International Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period.

  • Difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicableThe Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP (Generally Accepted Accounting Principles) in the period.

  • Consequently, Chinese firms with a listing in Hong Kong and Mainland China prepared two sets of financial statements (IFRS and Chinese GAAP).

  • Difference of the net profit and net assets disclosed in financial report, under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company has no difference of the net profit and net assets disclosed in financial report, under both IAS (International Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) in reporting period.

  • Chinese GAAP allows companies to change depreciation methods and period to reflect the real economic situation, so some companies change depreciation methods and/or period to mange the reported earnings.

  • IAIS Members commit to implement IAIS supervisory material taking into account specific market circumstances.7 GAAP Plus will continue development and field testing (for IFRS, US GAAP and Chinese GAAP) into the monitoring period.

  • Using the asset impairment According to Chinese GAAP, companies should consider conservatism principle and judge whether the assets have been impaired on the balance sheet day, including short-term investments, accounts receivable, inventories, goodwill, long-term equity investments, fixed assets, construction in progress and intangible assets.

  • Difference of the net profit and net assets disclosed in financial report, under both foreign accounting rules and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicableThe Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP (Generally Accepted Accounting Principles) in the period.VI.

  • Under the Chinese GAAP, so-called “one- time” items, such as extraordinary items and discontinued operations, are not reported separately.

  • Chinese GAAP offers some flexibility in preparing the financial statements and gives the financial managers some freedom to select among accounting policies and alternatives.


More Definitions of Chinese GAAP

Chinese GAAP. The general accepted accounting principles applicable in China, consistently applied. CLAIM -- Any claim, demand, dispute, action, suit, investigation or legal or analogous proceedings CLOSING -- The completion of the purchase by the Purchaser from the Seller of the Purchased Assets in accordance with Article 7. CLOSING DATE -- the date mutually agreed by the Parties subsequent to the conditions in Article 5.1 being satisfied or such other date as is determined by the Seller and Purchaser. CONTRACTS -- The meaning set forth in Article 2.1.4 EMPLOYEES -- The employees to be employed in relation to the HSR Business by Purchaser. ENCUMBRANCES -- Any mortgage, charge (fixed or floating), pledge, lien, hypothecation, trust, right of set off or other third party right or interest (legal or equitable) including any right of pre-emption, assignment by way of security, reservation of title or any other security interest of any kind however created or arising or any other agreement or arrangement (including a sale and repurchase arrangement) having similar effect.
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Chinese GAAP means the general accepted accounting principles applicable in China, consistently applied;
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Related to Chinese GAAP

  • UK GAAP means generally accepted accounting principles in the United Kingdom.

  • PRC GAAP means the generally accepted accounting principles in the PRC.

  • U.S. GAAP means United States generally accepted accounting principles consistently applied.

  • GAAP means United States generally accepted accounting principles.

  • Canadian GAAP means Generally Accepted Accounting Principles as provided in the Handbook of the Canadian Institute of Chartered Accountants.

  • IFRS means the International Financial Reporting Standards as issued by the International Accounting Standards Board.

  • Brazilian GAAP means the generally accepted accounting practices adopted in Brazil determined in accordance with the Brazilian corporate law.

  • SAP means, with respect to any Insurance Subsidiary, the statutory accounting practices prescribed or permitted by the insurance commissioner (or other similar authority) in the jurisdiction of such Insurance Subsidiary for the preparation of annual statements and other financial reports by insurance companies of the same type as such Insurance Subsidiary that are applicable to the circumstances as of the date of filing of such statement or report.

  • Mexican GAAP means generally accepted accounting principles in Mexico in effect on the Issue Date.

  • Fixed GAAP Terms (a) the definitions of the terms “Capitalized Lease Obligation,” “Consolidated Depreciation and Amortization Expense,” “Consolidated Interest Expense,” “Consolidated Net Income,” “Consolidated Tangible Assets,” “Consolidated Working Capital,” “EBITDA,” “ECF CNI,” “Excess Cash Flow,” “Fixed Charge Coverage Ratio,” “Fixed Charges,” “Funded Debt,” “Indebtedness,” “Investments,” “Net Income,” “Senior Secured Indebtedness” and “Senior Secured Indebtedness to EBITDA Ratio,” (b) all defined terms in this Agreement to the extent used in or relating to any of the foregoing definitions, and all ratios and computations based on any of the foregoing definitions, and (c) any other term or provision of this Agreement or the other Loan Documents that, at the Borrower’s election, may be specified by the Borrower by written notice to the Administrative Agent from time to time.

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • IAS means International Accounting Standards.

  • Fixed GAAP Date means the Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice.

  • HKFRS Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants

  • Uniform System of Accounts means the most recent edition of the Uniform System of Accounts for Hotels as adopted by the American Hotel and Motel Association.

  • Uniform System means the Uniform System of Accounts for the Lodging Industry, Tenth Revised Edition 2006, as published by the Education Institute of the American Hotel & Motel Association, as revised from time to time to the extent such revision has been or is in the process of being generally implemented within such Uniform System of Accounts.

  • Accounting system means the Contractor's system or systems for accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas such as indirect and other direct costs, compensation, billing, labor, and general information technology.

  • Australian Accounting Standards refers to the standards of that name, as amended from time to time, that are maintained by the Australian Accounting Standards Board referred to in section 227 of the Australian Securities and Investments Commission Act 2001 (Cth);

  • GAAS means generally accepted auditing standards in the United States.

  • Balance Sheets has the meaning set forth in Section 4.5(a).

  • Generally Accepted Accounting Principles means generally accepted accounting principles, being those principles of accounting set forth in pronouncements of the Financial Accounting Standards Board, the American Institute of Certified Public Accountants or which have other substantial authoritative support and are applicable in the circumstances as of the date of a report.

  • SSAP means a sporting sanctions appeal panel to be appointed to determine an appeal against a deduction of points under Rule 13.

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.