Setting up an accounting system is important for anyone starting a business in China. Depending on the size of your businesses, we will help you set up your accounting system in accordance with the applicable Chinese accounting standards for your businesses.

The Chinese accounting standards are issued by the Ministry of Finance. They contain Accounting Standards for Business Enterprises (ASBEs),  Accounting Standards for Small Business Enterprises (ASSEs) and China Accounting Standards 2006 (CAS 2006). CAS 2006 applies to all listed companies, financial institutions and large and medium-size stated-owned enterprises and is broadly in line with International Financial Reporting Standards (IFRS).

The Chinese tax authorities and Ministry of Finance require businesses in China to prepare financial reports to follow their standard reporting formats.

Mapping foreign chart of accounts with the statutory required chart of accounts may be difficult without local expertise.

Azure Group China provides comprehensive chart of accounts mapping support to ensure your accounts setting is in line with the China requirements.

Outsourced bookkeeping to meet Chinese accounting principles
There are different accounting regulation systems in China. Choosing the most appropriate accounting standards to record your financial positions and results is very important.

The principal currency in China is renminbi. Even if the functional currency is not renminbi, your entities in China are still required to prepare financial reports in renminbi for statutory purposes.

Azure Group China helps you understand the local reporting requirements, provide reliable bookkeeping services to maximize your reporting efficiency and safeguard your China operations.

Outsourced bookkeeping to meet IFRS or US GAAP

We understand for easy management of the global consolidation requirement of financial reports, you may also require the accounts to be prepared in accordance with IFRS or US GAAP regulations. We are very experienced with English bookkeeping and have used different accounting systems to meet your specific reporting needs.

Efficient management of the pay run function can help you business operate smoothly and meet your urgent business needs.

Azure Group China can help to set up your pay run functions with internal control measures to prevent payment frauds. We also act as your dedicated payable officer to manage your payment needs on a periodic basis. Our managed Cashier and Pay run service enables on time payment of your tax obligations and employer obligations to avoid non-compliance situations.

Our services helps with effective compliance with accounting, tax and social insurance laws and strict protection of customer privacy and data security. As a part of our Cashier and Pay Run services, we will help you set up your monthly pay run cycles.

As part of our monthly accounting services, we generate bilingual financial reports and working papers to help you understand your monthly financial performance and positions.

We also prepare reliable reports and analysis to gain insight into your company’s cash flow data, including procurement and human resources, so you can have early planning for your China cash flow needs.

Azure Group China can provide you with ongoing accounting file binding and archiving services to help you keep your company’s accounting records to meet the local accounting standards.