Dongguan company bookkeeping service is needed after the company registration. Dongguan is the largest global manufacturing and supplying base of computer parts and peripheries. Most of the PC components can be easily found and purchased there, making it an important purchasing base for PC giants including IBM, HP and Dell.
Enterprises in Dongguan should adopt the accrual basis of accounting in performing recognition, measurement and reporting for accounting purposes. Foreign-invested enterprises, including their legally responsible persons, must take full responsibility for the truthfulness, legitimacy and completeness of financial statements.
For foreign-based small and medium companies in China, it’s important to think through internal bookkeeping structures and plans. By outsourcing bookkeeping services to a qualified accounting firm in China with experience, compliance, liabilities, data security and fraud protection, companies also can save time to focus on core competencies, increase efficiency and reduce expenses.
General Requirements on Bookkeeping
In addition to the regulations applicable to all types of businesses, there are specific accounting regulations for entities of different ownership and business activities. Entities categorized by ownership include state-owned enterprises, collective owned enterprises, domestic private enterprises, FIEs and joint stock limited companies. By business activities, companies are categorized as manufacturing enterprises, agriculture enterprises, and transportation (general) Enterprises, transportation (railway) enterprises, transportation (aviation) enterprises, postage and telecommunication enterprises, financial institution enterprises, insurance enterprises, tourism and catering enterprises, foreign economic cooperation enterprises, merchandising enterprises, construction enterprises, real estate development enterprises and group structured companies.
Take a manufacturing FIE as an example. It is required to comply with the requirements stipulated in the Companies Law if it is a limited company or a joint stock company in addition to the relevant business, accounting and financial management laws and regulations applicable to FIEs. Meanwhile, it is required to adopt accounting and financial systems and regulations applicable to manufacturing businesses.
If the provisions of these regulations are in conflict, in practice, specific accounting and financial laws and regulations will prevail over general accounting and financial laws and regulations. For instance, Article 18 of the PRC Company Law stipulates that the law applies to FIEs with limited liabilities. However, if there are specific laws and regulations applicable to FIEs, these laws and regulations shall prevail.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China. /2355735242@qq.com.
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