The Euopean Chamber invites you to join the next F&T Working Group meeting, to be held on Wednesday, 25th September 2013, starting at 2:00pm at the European Chamber Beijing Office.
At this meeting, Mr. Lars Eckerlein, Partner at EY and Vice-Chair of the F&T WG, will present the latest developments of New Chinese Accounting Standards (CAS) conversion landscape and adoption timeline, the benefits of adopting new CAS and the major impact from the adoption of new CAS. Followed up by Ms. Lea Gebhardt, Manager at PwC and Chair of the F&T WG to share updates on the latest lobbying actions on the VAT Reform (Circular 37). It is very important that members come to this meeting with your inputs and suggestions.
Meeting Agenda:
1:40-2:00pm: Member Registration
2:00-2:40pm: New Chinese Accounting Standards Update, by Mr. Lars Eckerlein, Partner at EY and Vice-Chair of the F&T WG
2:40-3:20pm: Q&A Section
3:20-4:00pm: Lobbying Action Updates on the VAT Reform, by Ms. Lea Gebhardt, Manager at PwC and Chair of the F&T WG
If you wish to attend this meeting, please register with Lanna Wu by lwu@europeanchamber.com.cn by 5pm, 24th September.
Background Information:
The new Chinese Accounting Standards were issued by MOF in 2006 and are impacting foreign invested enterprises in China which are used to preparing their financial statements under old Chinese Accounting Standards. Furthermore, MOF has issued four CAS Exposure Drafts (ED) in 2012 that address Consolidated Financial Statements, Joint Arrangements, Disclosure of Interests in Other Entities and Fair Value Measurement, as a result of the new IFRSs that are effective in 2013. The effective date of these EDs is expected to be no later than next year.