Accounting services in China

Accounting Services in China

Solid • Accurate • Bilingual

The Issue

“Accounting must be proper”, said Confucius, famously. Clearly, the importance of reliable and accurate accounting has long been acknowledged in China. Unfortunately, current accounting practices, systems and resources often fail to live up to international professional standards.

Accounting standards are subject to continual change, and the transfer of financial data from one system to another faces many challenges, not only those of language. However, proper accounting is essential for any business, not only to meet statutory standards but also to provide accurate internal data as a solid foundation for investment decisions and performance evaluation.

The Solution: professional support through all stages of investment

In the first months of your investment, we will provide you with a quality analysis of the existing accounting methods of the company you have chosen. We will configure a transparent Chinese accounting method that suits your needs, and set up a computer-monitored accounting system and staff training programme. We will then provide you with a reporting system allowing the necessary adjustments to be made on balance sheets and in profit-and-loss accounts, according to the requirements of international accounting standards.

When your business is up and running we can provide you with monthly financial statements according to Chinese standards, as well as transitional statements for reporting to your head office. Every month we will submit financial and tax statements to the tax authorities on behalf of your company, and arrange yearly audits in close cooperation with a professional, licensed auditing partner. By outsourcing your accounting and bookkeeping to Fiducia, you can relieve your China operation of administrative burdens and focus on your core business.

Your Benefits

“Clean” and adequate compliance with Chinese bookkeeping standards
Transparent accounting policies and methods
Comparability by transforming financial data in accordance with international accounting standards
Annual Financial Reports in line with consolidation requirements
(e.g. HGB §300-30)

Fiducia’s Experience

Set-up of accounting and bookkeeping system for a German manufacturing WFOE
Set-up of accounting and bookkeeping system for a Dutch manufacturing WFOE
Set-up of accounting and reporting system for a German Representative Office
Set-up of accounting and reporting system for a Belgian Representative Office
Set-up of a reporting system for a German manufacturing WFOE

Fiducia’s Competence

With our 20 years of experience of doing business in China, we have a strong understanding of the unique Chinese market, its culture and business practices. This is our key competitive advantage in successfully advising international companies in China and Hong Kong.

Fiducia Management Consultants is a member of Accountants Global Network International (AGN), an association of separate and independent accounting and consulting firms.