Interpretations of the Accounting Standards for Business Enterprises No. 1

企业会计准则解释第1号

 

Promulgating Institution: Ministry of Finance

Document Number: Cai Kuai [2007] No.14

Promulgating Date: 11/16/2007

Effective Date: 11/16/2007

颁布机关: 财政部

文   号: 财会[2007]14号

颁布时间: 11/16/2007

实施时间: 11/16/2007

 

1. When enterprises prepare annual reports, are the amounts of the items related to asset, liability and owner's equity on the first day of implementation required to be further reviewed?

With regard to listed companies such as B-share and H-share companies that previously provided financial reports in accordance with domestic and international accounting standards simultaneously, how to adjust them on the first day of implementation?

Answer: When enterprises prepare their first annual report, they shall review the book balance of the items related to assets, liabilities and owner's equity of the first day of implementation, and, upon audit by a registered accountant, disclose, in the form of a list, the process of adjustment to the owner’s equity at the beginning of the year as well as the amended items and the affected amount, and the reasons thereof in the notes to the report.

Where listed companies such as B-share and H-share companies that previously provided financial reports in accordance with domestic and international accounting standards simultaneously are able to retrospectively adjust the outcome of the transaction or event as involved due to change of accounting policies according to relevant information obtained on the first day of implementation, the post-retrospectively adjusted outcome shall serve as the balance on the first day of implementation.

    一、企业在编制年报时，首次执行日有关资产、负债及所有者权益项目的金额是否要进一步复核？

  原同时按照国内及国际财务报告准则对外提供财务报告的B股、H股等上市公司，首次执行日如何调整？

  答：企业在编制首份年报时，应当对首次执行日有关资产、负债及所有者权益项目的账面余额进行复核，经注册会计师审计后，在附注中以列表形式披露年初所有者权益的调节过程以及作出修正的项目、影响金额及其原因。

  原同时按照国内及国际财务报告准则对外提供财务报告的B股、H股等上市公司，首次执行日根据取得的相关信息，能够对因会计政策变更所涉及的交易或事项的处理结果进行追溯调整的，以追溯调整后的结果作为首次执行日的余额。

2. How do domestic Chinese enterprises treat their overseas subsidiaries’ relevant transactions or events that have occurred overseas if such transactions or events do not exist in China and are subject to relevant laws and regulations or such transactoins are not often encountered, and the accounting standards for business enterprises do not provide for this regard?

Answer: If transactions or events of overseas subsidiaries of domestic Chinese enterprises that have occurred overseas do not exist in China and are subject to domestic laws and regulations or such transactions are not often encountered, and the accounting standards of business enterprises do not provide for this regard, the enterprises may adjust the outcome of the accounting treatment already undertaken by the said overseas subsidiaries according to international accounting standards and then consolidate it into the relevant item in the consolidated financial statement of the domestic parent company, provided that the outcome conforms to the principles of the Accounting Standards for Business Enterprises – Basic Standards.

    二、中国境内企业设在境外的子公司在境外发生的有关交易或事项，境内不存在且受相关法律法规等限制或交易不常见，企业会计准则未作规范的，如何进行处理？

  答：中国境内企业设在境外的子公司在境外发生的交易或事项，境内不存在且受法律法规等限制或交易不常见，企业会计准则未作出规范的，可以将境外子公司已经进行的会计处理结果，在符合《企业会计准则——基本准则》的原则下，按照国际财务报告准则进行调整后，并入境内母公司合并财务报表的相关项目。

3. How shall the initial direct expenses incurred by the lessor under an operating lease and the financing expenses incurred by the lessee under a finance lease be treated? If a lessor provides incentive measures for the operating lease such as providing a rent free period or assuming certain expenses of the lessee, what treatment shall the lessor and the lessee adopt? How does an enterprise (building contractor) treat relevant expenses incurred as a result of establishing a building contract?

Answer: (1) The initial direct expenses incurred by the lessor under an operating lease refer to expenses incurred during the lease negotiation and the signing of the leasing contract that may be attributable to the lease such as handling fees, legal fees, travel expenses and stamp duties, which shall be charged to profit and loss (hereinafter referred to as “P&L”) in the current period; amounts that are relatively large shall be capitalized, and shall be charged to the P&L of the current period in installments on a similar basis to the recognition of rental income during the entire period of the operating lease.

The financing expenses incurred by the lessee under a finance lease shall be capitalized or expensed, and shall be treated in accordance with the Accounting Standards for Business Enterprises No. 17 – Borrowing Expenses, and shall be calculated in accordance with the Accounting Standards for Business Enterprises No. 21 – Leases.

(2) If a lessor provides incentive measures for the operating lease, the treatment adopted by the lessor and the lessee shall be determined separately according to the following circumstances:

1. If the lessor provides a rent free period, the lessee shall amortize the total amount of the lease without deducting the rent free period on the basis of the straight line method or other reasonable methods over the course of the entire lease period; rental expense shall be recognized during the rent free period. The lessor shall allocate the total amount of the lease without deducting the rent free period on the basis of the straight line method or other reasonable methods over the course of the entire lease period; rental income shall be recognized by the lessor during the rent free period.

2. If the lessor assumes certain expenses of the lessee, the lessor shall deduct the said expenses from the total rental income, and allocate the balance of the rental income after the deduction over the course of the lease period. The lessee shall deduct the said expenses from the total rental expense, and amortize the balance of the rental expense after the deduction over the course of the lease period

(3) With regard to an enterprise (building contractor) that incurs expenses such as travel expenses and bidding costs as a result of establishing a building contract, if the said expenses can be individually separated and reliably calculated, and the contract is very likely to be concluded, such expenses shall be grouped together, and reflected in the cost of the contract when the contract is obtained. In cases where the abovementioned conditions are not fulfilled, the said expenses shall be charged to the P&L of the current period.

    三、经营租赁中出租人发生的初始直接费用以及融资租赁中承租人发生的融资费用应当如何处理？出租人对经营租赁提供激励措施的，如提供免租期或承担承租人的某些费用等，承租人和出租人应当如何处理？企业（建造承包商）为订立建造合同发生的相关费用如何处理？

  答：（一）经营租赁中出租人发生的初始直接费用，是指在租赁谈判和签订租赁合同过程中发生的可归属于租赁项目的手续费、律师费、差旅费、印花税等，应当计入当期损益；金额较大的应当资本化，在整个经营租赁期间内按照与确认租金收入相同的基础分期计入当期损益。

  承租人在融资租赁中发生的融资费用应予资本化或是费用化，应按《企业会计准则第17号——借款费用》处理，并按《企业会计准则第21号——租赁》进行计量。

  （二）出租人对经营租赁提供激励措施的，出租人与承租人应当分别下列情况进行处理：

  1.出租人提供免租期的，承租人应将租金总额在不扣除免租期的整个租赁期内，按直线法或其他合理的方法进行分摊，免租期内应当确认租金费用；出租人应将租金总额在不扣除免租期的整个租赁期内，按直线法或其他合理的方法进行分配，免租期内出租人应当确认租金收入。

  2.出租人承担了承租人某些费用的，出租人应将该费用自租金收入总额中扣除，按扣除后的租金收入余额在租赁期内进行分配；承租人应将该费用从租金费用总额中扣除，按扣除后的租金费用余额在租赁期内进行分摊。

  （三）企业（建造承包商）为订立合同发生的差旅费、投标费等，能够单独区分和可靠计量且合同很可能订立的，应当予以归集，待取得合同时计入合同成本；未满足上述条件的，应当计入当期损益。

4. What conditions should financial instruments issued by enterprises fulfill to be recognized as equity instruments?

Answer: A financial instrument issued by an enterprise shall be recognized as an equity instrument if it simultaneously fulfils the following conditions:

(1) The said instrument shall not include paying cash or other financial assets to another entity, nor the exchange of contractual obligations of financial assets or financial liabilities with another entity under potentially unfavorable conditions.

(2) Where settlement of the said financial instrument is required or may require the use of the equity instrument of the issuing party itself, if such financial instrument is a non-derivative instrument, settlement of the said financial instrument shall not include contractual obligations of delivering an unfixed quantity of the equity instruments of the issuing party itself. If such financial instrument is a derivative instrument, settlement of the said financial instrument may only be carried out by means of delivering a fixed quantity of the equity instruments of the issuing party itself in exchange for a fixed sum of cash or other financial assets. In particular, the equity instrument of the issuing party itself referred to herein shall not include contracts the enterprise itself uses for settlement purposes by means of collecting or delivering the equity instrument of the enterprise itself.

    四、企业发行的金融工具应当在满足何种条件时确认为权益工具？

  答：企业将发行的金融工具确认为权益性工具，应当同时满足下列条件：

  （一）该金融工具应当不包括交付现金或其他金融资产给其他单位，或在潜在不利条件下与其他单位交换金融资产或金融负债的合同义务。

  （二）该金融工具须用或可用发行方自身权益工具进行结算的，如为非衍生工具，该金融工具应当不包括交付非固定数量的发行方自身权益工具进行结算的合同义务；如为衍生工具，该金融工具只能通过交付固定数量的发行方自身权益工具换取固定数额的现金或其他金融资产进行结算。其中，所指的发行方自身权益工具不包括本身通过收取或交付企业自身权益工具进行结算的合同。

5. How shall derivative instruments embedded in insurance contracts or embedded in lease contracts be treated?

Answer: According to the provisions of the Accounting Standards for Business Enterprises No. 22 – Recognizing and Calculating Financial Instruments, where an embedded derivative instrument related hybrid instrument is not designated as a financial asset or financial liability that is calculated based on fair market value and for which the change in value is reflected in the P&L of the current period while simultaneously fulfulling the relevant terms and conditions, the said embedded derivative instrument shall be stripped from the hybrid instrument, and treated as an independent derivative instrument. The said provision is similarly applicable for derivative instruments in an insurance contract, unless the said embedded derivative instrument is itself an insurance contract.

In accordance with the stipulations of the insurance contract, if the policyholder, during the period for which the insurance contract is held, has an option to surrender the insurance contract by means of a fixed sum of money or by means of a fixed sum of money and a sum determined by corresponding interest rates, even if its exercise price and the book value of the liabilities of the main insurance contract is different, the policyholder shall also not strip the said option from the insurance contract, and shall still treat it according to the insurance contract. However, if the surrender value changes along with the change in a financial variable or a non-specific related non-financial variable of the contract party, the Accounting Standards for Business Enterprises No. 22 – Recognizing and Calculating Financial Instruments shall be applicable for the option sold or surrendering the option for cash. If the ability of the holder to carry out the sale of the option or the option to surrender the policy for cash is determined by changes in the abovementioned variable, the Accounting Standards for Business Enterprises No. 22 – Recognizing and Calculating Financial Instruments shall also be applicable for the sale of the option or the option to surrender the policy for cash embedded in an insurance contract.

Derivative instruments that are embedded in lease contracts shall be treated according to the Accounting Standards for Business Enterprises No. 22 – Recognizing and Calculating Financial Instruments.

    五、嵌入保险合同或嵌入租赁合同中的衍生工具应当如何处理？

  答：根据《企业会计准则第22号——金融工具确认和计量》的规定，嵌入衍生工具相关的混合工具没有指定为以公允价值计量且其变动计入当期损益的金融资产或金融负债，同时满足有关条件的，该嵌入衍生工具应当从混合工具中分拆，作为单独的衍生工具处理。该规定同样适用于嵌入在保险合同中的衍生工具，除非该嵌入衍生工具本身属于保险合同。

  按照保险合同约定，如果投保人在持有保险合同期间，拥有以固定金额或是以固定金额和相应利率确定的金额退还保险合同选择权的，即使其行权价格与主保险合同负债的账面价值不同，保险人也不应将该选择权从保险合同中分拆，仍按保险合同进行处理。但是，如果退保价值随同某金融变量或者某一与合同一方不特定相关的非金融变量的变动而变化，嵌入保险合同中的卖出选择权或现金退保选择权，应适用《企业会计准则第22号——金融工具确认和计量》；如果持有人实施卖出选择权或现金退保选择权的能力取决于上述变量变动的，嵌入保险合同中的卖出选择权或现金退保选择权，也适用《企业会计准则第22号——金融工具确认和计量》。

  嵌入租赁合同中的衍生工具，应当按照《企业会计准则第22号——金融工具确认和计量》进行处理。

6. If an enterprise holds fixed assets and other non-current assets for sale, how shall they be recognized and calculated?

Answer: Article 22 of the Accounting Standards for Business Enterprises No. 4 – Fixed Assets provides that an enterprise shall treat a fixed asset held for sale by adjusting the expected net salvage value of the said fixed asset such that the expected net salvage value of the said fixed asset shall reflect fair market value less disposal cost, but shall not exceed the original book value of the said fixed asset at the time it complied with the terms and conditions for being held for sale. The surplus of the original book value over the adjusted expected net salvage value shall be charged to the P&L of the current period as asset impairment loss.

Non-current assets that simultaneously fulfill the following conditions shall be classified under held-for-sale: 1. The enterprise has already made a resolution for the disposal of the said non-current asset; 2. The enterprise has already signed an irrevocable transfer agreement with the acquiring party; and 3. The said transfer shall be completed within one (1) year.

Other non-current assets such as intangible assets that meet the held-for-sale conditions shall be treated in reference to the abovementioned principles, but shall not include deferred income tax assets, financial assets prescribed under Accounting Standards for Business Enterprises No. 22 – Recognizing and Calculating Financial Instruments, investment real estate and biological assets that are calculated based on fair market value, and contractual rights generated in an insurance contracts.

Non-current assets held for sale include single assets and disposal groups. Disposal groups refer to a group of assets that is sold as a whole or disposed together.

    六、企业如有持有待售的固定资产和其他非流动资产，如何进行确认和计量？

  答：《企业会计准则第4号——固定资产》第二十二条规定，企业对于持有待售的固定资产，应当调整该项固定资产的预计净残值，使该固定资产的预计净残值反映其公允价值减去处置费用后的金额，但不得超过符合持有待售条件时该项固定资产的原账面价值，原账面价值高于调整后预计净残值的差额，应作为资产减值损失计入当期损益。

  同时满足下列条件的非流动资产应当划分为持有待售：一是企业已经就处置该非流动资产作出决议；二是企业已经与受让方签订了不可撤销的转让协议；三是该项转让将在一年内完成。

  符合持有待售条件的无形资产等其他非流动资产，比照上述原则处理，但不包括递延所得税资产、《企业会计准则第22号——金融工具确认和计量》规范的金融资产、以公允价值计量的投资性房地产和生物资产、保险合同中产生的合同权利。

  持有待售的非流动资产包括单项资产和处置组，处置组是指作为整体出售或其他方式一并处置的一组资产。

7. When an enterprise recognizes investment income from joint venture enterprises and associated enterprises, how shall it treat the P&L of internal transactions that have occurred in joint venture enterprises and associated enterprises? How shall adjustments be carried out when calculating investment gains or losses if an equity investment debit balance exists as regards joint venture enterprises and associated enterprises on the first day of implementation? How shall an enterprise that has held long-term equity investments in subsidiaries prior to the first day of implementation treat the cash dividend or profit distribution obtained from subsidiaries?

Answer: (1) According to the provisions of Accounting Standards for Business Enterprises No. 2 – Long-term Equity Investments, an enterprise that holds investments in joint venture enterprises and associated enterprises shall adopt the equity method of accounting, and shall take into consideration the following factors when calculating and recognizing the net profit or loss of the invested enterprise it shall enjoy or share according to such factors as the shareholding ratio:

The share of the P&L of internal transactions that have occurred between the investing enterprise, and the joint venture and associated enterprises attributable to the investing enterprise calculated based on the shareholding ratio shall be offset, and investment gain or loss recognized on this basis. Internal transaction losses that have been incurred between the investing enterprise and the invested enterprise, and that are asset impairment losses, shall be recognized in its entirety according to the provisions of Accounting Standards for Business Enterprises No. 8 – Asset Impairment. The P&L of internal transactions that have occurred between the subsidiary of an investing enterprise that has been consolidated, and the joint venture and associated enterprises thereof shall also be offset according to the abovementioned principles and the investment gain or loss recognized on this basis.

An investing enterprise shall, at the time the invested entity announces the distribution of cash dividends or profits, the dividend received shall be calculated according to the provisions and the attributable amount recognized, while simultaneously writing down the book value of the long-term equity investment.

(2) An enterprise that has held long-term equity investments in subsidiaries prior to the first day of implementation treat the cash dividend or profit distribution obtained from subsidiaries shall make retrospective adjustments on the first day of implementation, and shall be viewed as if the cost method of accounting has been adopt from the beginning. After the new accounting standards are implemented, investment income shall be recognized according to the cash dividends distributed or the attributable portion of the profits announced by the subsidiaries.

    七、企业在确认由联营企业及合营企业投资产生的投资收益时，对于与联营企业及合营企业发生的内部交易损益应当如何处理？首次执行日对联营企业及合营企业投资存在股权投资借方差额的，计算投资损益时如何进行调整？企业在首次执行日前持有对子公司的长期股权投资，取得子公司分派现金股利或利润如何处理？

  答：（一）企业持有的对联营企业及合营企业的投资，按照《企业会计准则第2号——长期股权投资》的规定，应当采用权益法核算，在按持股比例等计算确认应享有或应分担被投资单位的净损益时，应当考虑以下因素：

  投资企业与联营企业及合营企业之间发生的内部交易损益按照持股比例计算归属于投资企业的部分，应当予以抵销，在此基础上确认投资损益。投资企业与被投资单位发生的内部交易损失，按照《企业会计准则第8号——资产减值》等规定属于资产减值损失的，应当全额确认。投资企业对于纳入其合并范围的子公司与其联营企业及合营企业之间发生的内部交易损益，也应当按照上述原则进行抵销，在此基础上确认投资损益。

  投资企业对于首次执行日之前已经持有的对联营企业及合营企业的长期股权投资，如存在与该投资相关的股权投资借方差额，还应扣除按原剩余期限直线摊销的股权投资借方差额，确认投资损益。

  投资企业在被投资单位宣告发放现金股利或利润时，按照规定计算应分得的部分确认应收股利，同时冲减长期股权投资的账面价值。

  （二）企业在首次执行日以前已经持有的对子公司长期股权投资，应在首次执行日进行追溯调整，视同该子公司自最初即采用成本法核算。执行新会计准则后，应当按照子公司宣告分派现金股利或利润中应分得的部分，确认投资收益。

8. How shall enterprises treat non-tradable shares held during the course of the non-tradable share reform?

Answer: The equity stake in an invested entity that an enterprise holds on which it exercises more than a material influence during the course of the non-tradable share reform shall be treated as a long-term equity investment, and depending on the degree of influence it has on the invested entity, the cost method or the equity method of accounting shall be separately adopted. The equity stake in an invested entity that an enterprise holds on which it does not exercise control, joint control or material influence during the course of the non-tradable share reform shall be treated a financial asset held for sale. The difference between the fair market value and the book value shall be retrospectively adjusted at the first day of implementation, and reflected in capital reserves.

    八、企业在股权分置改革过程中持有的限售股权如何进行处理？

  答：企业在股权分置改革过程中持有对被投资单位在重大影响以上的股权，应当作为长期股权投资，视对被投资单位的影响程度分别采用成本法或权益法核算；企业在股权分置改革过程中持有对被投资单位不具有控制、共同控制或重大影响的股权，应当划分为可供出售金融资产，其公允价值与账面价值的差额，在首次执行日应当追溯调整，计入资本公积。

9. When an enterprise prepares consolidated financial statements, shall temporary differences as a result of offsetting unrealized gains or losses from internal sales in consolidated financial statements be recognized as deferred income tax? Upon the implementation of the new accounting standards, how shall a parent company list and report the unrealized investment gains or losses of a subsidiary on consolidation in the consolidated financial statements?

Answer: (1) When an enterprise prepares consolidated financial statements, temporary differences as a result of differences between the book value of assets and liabilities in the consolidated balance sheet and the tax base of the taxpayer to which they belong due to offsetting unrealized gains or losses from internal sales shall be recognized as a deferred income tax asset or deferred income tax liability in the consolidated financial statements. Income tax expenses in the consolidated profit and loss statement shall be simultaneously adjusted, except for transactions or events that are directly reflected in owner’s equity, and deferred income tax related to enterprise mergers.

(2) After the implementation of the new accounting standards, the parent company shall offset unrecognized investment gains or losses of consolidated subsidiaries against undistributed profits in the consolidated balance sheet, and shall not list and report such gains or losses as an individual “unrecognized investment gains or losses” item.

    九、企业在编制合并财务报表时，因抵销未实现内部销售损益在合并财务报表中产生的暂时性差异是否应当确认递延所得税？母公司对于纳入合并范围子公司的未确认投资损失，执行新会计准则后在合并财务报表中如何列报？

  答：（一）企业在编制合并财务报表时，因抵销未实现内部销售损益导致合并资产负债表中资产、负债的账面价值与其在所属纳税主体的计税基础之间产生暂时性差异的，在合并资产负债表中应当确认递延所得税资产或递延所得税负债，同时调整合并利润表中的所得税费用，但与直接计入所有者权益的交易或事项及企业合并相关的递延所得税除外。

  （二）执行新会计准则后，母公司对于纳入合并范围子公司的未确认投资损失，在合并资产负债表中应当冲减未分配利润，不再单独作为“未确认的投资损失”项目列报。

10. During the course of enterprise restructuring, how shall assets and liabilities be recognized and calculated?

Answer: If an enterprise brings in new shareholders and is restructured into a joint stock limited company, the relevant assets and liabilities shall be calculated based on fair market value. The fair market value determined at the time of the restructuring shall be the base sustained accounting outcome and consolidated into the consolidated financial statements of the controlling shareholder. The controlling shareholder of the restructured enterprise, when recognizing long-term equity investment of the joint stock limited company, shall treat the initial investment cost as the sum of the fair market value and relevant costs of the invested asset.

    十、企业改制过程中的资产、负债，应当如何进行确认和计量？

  答：企业引入新股东改制为股份有限公司，相关资产、负债应当按照公允价值计量，并以改制时确定的公允价值为基础持续核算的结果并入控股股东的合并财务报表。改制企业的控股股东在确认对股份有限公司的长期股权投资时，初始投资成本为投出资产的公允价值及相关费用之和。