China Accounting News Weekly[No.88]
导读：China Accounting News Weekly[No. 88]10.23-10.2921st XBRL Conference held in BeijingThe Ministry of Finance announced at the 21st XBRL (eXtensible Business Reporting Language) global conference in Beijing that from January 1, 2011, the XBRL standard w
China Accounting News Weekly[No. 88]10.23-10.29
21st XBRL Conference held in Beijing
The Ministry of Finance announced at the 21st XBRL (eXtensible Business Reporting Language) global conference in Beijing that from January 1, 2011, the XBRL standard will be applied initially to certain Chinese companies listed on New York Stock Exchange and certain accounting firms with securities and futures practice qualification. The Ministry is also encouraging other listed companies and non-listed big enterprises to apply early the standard for the purpose of gaining experience in order to facilitate gradual adoption of the standard.
Practice quality review of valuers finished
The 2010 practice quality review of asset valuation institutions with securities practice qualification has concluded. A total of 124 asset valuation reports which have been issued since 2009 have been reviewed. Of this sample, 92 are enterprise valuation reports, 16 are intangible asset valuation reports, and the rest are single asset and asset group valuation reports. The establishments of the institutions investigated have been generally complied with relevant regulations, and most of them have established internal management systems and three-level report quality review systems.
More horsepower, more taxes
The proposed Vehicle and Vessel Tax Law shows that for vehicles with a cylinder capacity of between 1.6L to 2.0L they will be taxed between 660 yuan to 960 yuan, while for vehicles with a cylinder capacity of above 4.0L they will be taxed between 3,600 yuan to 5,400 yuan. The proposal also stipulates that specific taxation amount should be determined by provincial government with regard to the range stated in the Law.
Training for leading talents in accountancy finished
The first-phase training workshop for leading talents in accountancy (enterprise category, reserve) is nearing the end. In their six-year training, the students of the workshop have completed more than 250 professional assignments, publishing 340 professional papers and achieving 34 national and provincial level honours, and more than 20 students have been promoted.
Fellow CPAs nomination started
The title – Fellow Certified Public Accountant – will be granted to qualified members of Chinese Institution of Certified Public Accountants. According to the types of membership, the title will be FCPA or Fellow member (for members not working in practice). The first batch of fellows is 700, of which, CICPA will nominate 100 members, its local branches will nominate the rest.
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