An accountant is a practitioner of accounting or accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resource(s). In many jurisdictions, professional accounting bodies maintain standards of practice and evaluations for professionals.
Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant. In China, Certified Public Accountant is the basic qualification needed by China accountant.
For a foreign accountant to work in China accounting field, they had to obtain a license to provide limited accountancy services in this economy. Those who want to engage in accounting work shall pass the profession qualification examination organized by the MOF to acquire an accountant’s practice qualification certificate.
Those who want to provide auditing services shall pass the unified national examination for certified public accountants and engage in auditing business for more than two years. A certified public accountant shall join an institute of certified public accountants supervised and guided by the MOF.
China Accountant’s job basically can be divided into 3 stages:
Earlier stage: Taxation Application:
--Tax type setting and verification;
--Tax agent training, declaration system purchasing, and three parties’ tax deduction agreement;
--Legal representative meet with tax officer;
--General tax payer qualification application and verification;
--Tax control system purchasing, training;
--Invoices purchasing.
Middle stage: Accounting Declaration:
--Financial software configuration, accounting book setting;
--Statements drafting and declaration (General ledger, detail account, balance, profit and loss);
--Tax declaration (Circulation tax, personal tax, company income tax, statement and attached
statement);
--Translation and sending of statements;
--VAT invoice deduction and verification;
--Employees’ social security, insurance and wage declaration;
--Bank reconciliation and foreign exchange settlement;
--Binding and recording of accounting documents.
Last stage: Financial Trusteeship:
--Application of tax rebates;
--Invoice purchasing and management;
--Invoice issuing and delivery;
--Import& Export products invoice data collection;
--Auditing and asset evaluation;
--Annual settlement of Financial Bureau;
--Tax type increasing and changing;
--Application of tax exemption.
--Non-trade Certificate registration.
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