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CHAPTER I GENERAL PROVISIONS CHAPTER II NAME AND NUMBER OF THE ACCOUNTS CHAPTER III INSTRUCTIONS ON THE USE OF ACCOUNTS CHAPTER IV FINANCIAL ACCOUNTING REPORT CHAPTER V SUPPLEMENTARY PROVISIONS CHAPTER I GENERAL PROVISIONS Article 1. These Measures are enacted to regulate the accounting work in projects financed by foreign government capital donation. Article 2. These Measures shall apply to the capital donation projects (hereinafter referred to as donation projects) managed by the donation transfer institutions as referred to in the Measures for Financial Management of Donation Transfer in Projects Financed by Foreign Government Capital Donation (Trial). These Measures may be referred to with regard to the donation projects managed by other institutions. Article 3. A donation transfer institution shall set up independent accounts and carry out independent accounting for the donation projects under its management, taking such projects as the accounting entities. Article 4. A fiscal year shall start on January 1 and end on December 31 of the Gregorian calendar. Article 5. Debit-credit book keeping shall be employed in the account keeping. Article 6. Renminbi (RMB) shall be the currency used in book keeping in the accounting. Article 7. A donation transfer institution shall employ accrual basis accounting for the donation projects under its management. Article 8. A donation transfer institution shall finish the annual financial accounting report within 3 months after the end of a fiscal year, and submit that report to the Ministry of Finance. Article 9. The accounting treatments shall be consistent in all the phases and may not be changed at will. If any change is really necessary, the change, reason and the impact to the accounting statements shall be explained in the explanatory statements on financial condition. Article 10. A donation transfer institution shall set up and use the accounts in accordance with the provisions of these Measures. CHAPTER II NAME AND NUMBER OF THE ACCOUNTS Article 11. A donation transfer institution shall set up the following accounts for the donation projects under its management: 1. Assets No.101 Account Title: Cash in hand No.102 Account Title: Cash at bank No. 103 Account Title: Accounts receivables 2. Debts No. 201 Account Title: Accounts payables No. 202 Account Title: Receive in advanced 3. Net Assets No. 301 Account Title: Specific Capital No.302 Account Title: Balance 4. Income No.401 Account Title: Donation transferred in No.402 Account Title: Matched capital transferred in No. 403 Account Title: Interest income 5. Expenditure No. 501 Account Title: Donation transferred out No.502 Account Title: Matched capital transferred out No. 503 Account Title: Other expenses CHAPTER III INSTRUCTIONS ON THE USE OF ACCOUNTS Article 12. Instructions on use of the accounts set up by a donation transfer institution are as follows: 101 Cash in Hand 1. This account shall be used for recording the cash on hand of the donation project. 2. The cash received shall be debited to this account and be credited to the relevant accounts; the cash used or deposited in bank shall be debited to the relevant accounts and be credited to this account. 3. A "Cash Journal" shall be set up, on which the cashier shall record the daily cash transactions item by item in chronological order based on the receipt and payment vouchers. At the closing of each day, the sum of cash income, the sum and balance of cash expenditure of the current day shall be calculated, and the balance shall be checked against the actual cash on hand, thus to guarantee the consistence of the capital and accounts. 102 Cash at Bank 1. This account shall be used for recording the cash deposited in the bank of the donation projects. 2. The cash deposited shall be debited to this account and be credited to the relevant accounts. The cash withdrawn or expended shall be debited to the relevant accounts and be credited to this account. Where any deposit of foreign currency is involved in a donation project, the sum of foreign currency shall be converted into RMB in book-keeping, except as otherwise provided for; all the accounts relating to the foreign currency transactions shall, in the convention, adopt the exchange rate of the time of the transaction, or the exchange rate of the initial phase of the transaction. At the end of each year (or each quarter or month), the end balance of the foreign currency bank account shall be converted into RMB at the end rate. The balance between the value of RMB converted at the end rate and the original book value of RMB shall be included in other expenses as the exchange gains and losses. 3. A donation project shall separate the donation capital and the match capital, and shall set up a "Bank Deposit Journal" on the basis of RMB and foreign currencies for separate classified accounting. 4. At the end of a term, the balance of this account shall be checked against the bank statements and be adjusted to be consistent therewith. 103 Accounts Receivables 1. This account shall be used for recording the receivable or advance paid donation capital and match capital etc. 2. The receivable or advance payments actually occurring shall be debited to this account and be credited to the accounts of "Cash at Bank", "Donation Transferred in" and "Matched Capital Transferred in" etc. The relevant capital received or settled shall be debited to the accounts of "Donation Transferred out", "Matched Capital Transferred out" and "Cash at Bank" etc, and be credited to this account. At the end of each year (or each quarter or month), the end balance of the receivable foreign currency account shall be converted into RMB at the end rate. The balance between the value of RMB converted at the end rate and the original book value of RMB shall be included in other expenses as the exchange gains and losses. 3. This account shall separate donation capital and match capital, and set up classified accounts on the basis of receivable or advance payments for classified accounting. 4. At the end of a term, the debit balance of this account shall be the unsettled receivables or advance payments. 201 Accounts Payables 1. This account shall be used for recording the payable donation capital and match capital etc that haven't been actually paid of a donation project. 2. The payables shall be debited to the accounts of "Donation Transferred out" and "Matched Capital Transferred out" etc, and be credited to this account. And the sums actually paid shall be debited to this account and be credited to the accounts of "Cash at Bank" etc. At the end of each year (or each quarter or month), the end balance of the payable foreign currency account shall be converted into RMB at the end rate. The balance between the value of RMB converted at the end rate and the original book value of RMB shall be included in other expenses as the exchange gains and losses. 3. This account shall separate donation capital and match capital, and set up classified accounts on the basis of different types of the payables that haven't been actually paid for classified accounting. 4. At the end of a term, the credit balance of this account shall be the unsettled payables. 202 Received in advance 1. This account shall be used for recording the donation capital and match capital etc of the next year that are collected in advance. 2. Actual advance collections shall be debited to the account of "Cash at Bank", and be credited to this account. Actual payment of relevant sums shall be debited to this account and be credited to the accounts of "Donation Transferred in" and "Matched Capital Transferred in" etc; and at the same time be debited to the accounts of "Donation Transferred out" and "Matched Capital Transferred out" etc, and be credited to the accounts of "Cash at Bank" etc. At the end of each year (or each quarter or month), the end balance of the advance collected foreign currency account shall be converted into RMB at the end rate. The balance between the value of RMB converted at the end rate and the original book value of RMB shall be included in other expenses as the exchange gains and losses. 3. This account shall separate donation capital and match capital, and set up classified accounts on the basis of different types of the advance collections for classified accounting. 4. At the end of a term, the credit balance of this account shall be the unsettled advance collections. 301 Specific Capital 1. This account shall be used for recording the specific capital drawn for the donation project pursuant to the relevant Provisions on the Measures for Financial Management of Donation Transfer in Projects Financed by Foreign Government Capital Donation (Trial). 2. The sums drawn shall be debited to the account of "Matched Capital Transferred out", and be credited to this account. And the sums actually paid shall be debited to this account and be credited to the accounts of "Cash at Bank" etc. 3. This account shall set up classified accounts on the basis of different usages or types of the specific capital for classified accounting. 4. At the end of a term, the credit balance of this account shall be the balance of the specific capital that has been drawn but not actually used by a donation project. 5. Upon the completeness of a donation project, the balance of the account of "Specific Capital" shall be carried over to the account of "Balance", be debited to this account and be credited to the account of "Balance". 302 Balance 1. This account shall be used for recording the accumulative total balance resulted after all the annual receipts are offset with all the annual expenses of the donation project. 2. At the end of a year, the balance of the accounts of "Donation Transferred in", "Matched Capital Transferred in", "Interest Income" etc shall be transferred to the credit of this account, and be debited to the accounts of "Donation Transferred in", "Matched Capital Transferred in", "Interest Income" etc, and be credited to this account; the balance of the accounts of "Donation Transferred out", "Matched Capital Transferred out" and "Other Expenses" etc shall be transferred to the debit of this account, and be debited to this account and be credited to the accounts of "Donation Transferred out", "Matched Capital Transferred out" and "Other Expenses" etc. 3. This account shall set up classified accounts on the basis of different types of the balance for classified accounting. 4. At the end of a year, the credit balance of this account shall be the accumulated balance of the donation project. 5. Upon the completeness of a donation project, the balance of the account of "Specific Capital" shall be carried over to the account of "Balance", be debited to the account of "Specific Capital" and be credited to this account. 401 Donation Transferred In 1. This account shall be used for recording the currency and non-currency donation capital received by the donation project (excluding the donation capital of the next year collected in advance). 2. The receivable currency donation capital as calculated by the donation transfer institution according to the progress of the donation project shall be debited to the account of "Accounts Receivables" and be credited to this account. The currency donation capital actually received shall be debited to the account of "Cash at Bank"and be credited to the accounts of "Accounts Receivables" etc. The non-currency donation capital directly allocated to the execution agency by the donator shall be debited to the account of "Donation Transferred out" and be credited to this account. 3. This account shall set up classified accounts on the basis of different kinds of usages of the donation capital for classified accounting. 4. In the year-end account settlement, the credit balance of this account shall be transferred to the account of "Balance", be debited to this account and be credited to the account of "Balance". There shall be no balance on this account after the year-end account transfer. 402 Matched Capital Transferred in 1. This account shall be used for recording the currency and non-currency match capital received by the donation project (excluding the match capital of the next year collected in advance). 2. The receivable currency match capital as calculated by the donation transfer institution according to the progress of the donation project shall be debited to the account of "Accounts Receivables" and be credited to this account. The currency match capital actually received shall be debited to the account of "Cash at Bank" and be credited to the accounts of "Accounts Receivables" etc. The non-currency match capital directly received by the execution agency, when substituting labor for match capital, shall be debited to the account of "Matched Capital Transferred out" and be credited to this account. 3. This account shall set up classified accounts on the basis of different kinds of usages of the donation capital for classified accounting. 4. In the year-end account settlement, the credit balance of this account shall be transferred to the account of "Balance", be debited to this account and be credited to the account of "Balance". There shall be no balance on this account after the year-end account transfer. 403 Interest Income 1. This account shall be used for recording the interest income from bank deposit of the donation project. 2. The receivable bank deposit interest shall be debited to the account of "Accounts Receivables" and be credited to the account of "Interest Income". The interest actually received shall be debited to the accounts of "Cash at Bank" etc and be credited to the account of "Accounts Receivables". 3. This account shall set up classified accounts on the basis of different kinds of interest income for classified accounting. 4. In the year-end accounts settlement, the credit balance of this account shall be transferred to the account of "Balance", be debited to this account and be credited to the account of "Balance". There shall be no balance on this account after the year-end account transfer. 501 Donation Transferred out 1. This account shall be used for recording the currency and non-currency donation capital transferred out by the donation project. 2. The Donation Capital Transferred out as calculated by the donation transfer institution shall be debited to this account and be credited to the account of "Accounts Payables". The actually paid donation capital shall be debited to the account of "Accounts Payables" and be credited to the account of "Cash at Bank". The non-currency donation capital directly paid to the execution agency by the donator shall be debited to this account and be credited to the account of "Donation Transferred in". 3. This account shall set up classified accounts on the basis of different kinds of usages of the donation capital for classified accounting. 4. In the year-end accounts settlement, the credit balance of this account shall be transferred to the account of "Balance", be debited to this account and be credited to the account of "Balance". There shall be no balance on this account after the year-end account transfer. 502 Matched Capital Transferred out 1. This account shall be used for recording the currency and non-currency match capital transferred out by the donation project. 2. The Match Capital Transferred out as calculated by the donation transfer institution shall be debited to this account and be credited to the account of "Accounts Payables". The actually paid donation capital shall be debited to the account of "Accounts Payables" and be credited to the account of "Cash at Bank". The non-currency match capital directly received by the execution agency, when substituting labor for match capital, shall be debited to this account and be credited to the account of "Matched Capital Transferred in". 3. This account shall set up classified accounts on the basis of different kinds of match capital for classified accounting. 4. In the year-end accounts settlement, the credit balance of this account shall be transferred to the account of "Balance", be debited to this account and be credited to the account of "Balance". There shall be no balance on this account after the year-end account transfer. 503 Other Expenses 1. This account shall be used for recording the expenses other than the Donation Capital Transferred out and Match Capital Transferred out, such as the exchange gains and losses, and the bank charges etc. 2. The expenses other than the exchange gains and losses shall be debited to this account and be credited to the accounts of "Cash at Bank"etc. 3. At the end of each year (or each quarter or month), the balance between the value of RMB converted at the end rate and the original book value of RMB shall be included in other expenses as the exchange gains and losses, be debited or credited to this account, be credited or debited to the accounts of "Cash at Bank", "Accounts Receivables", "Accounts Payables" or "Received in Advance" etc. 4. This account shall set up classified accounts on the basis of different kinds of usages of other expenses for classified accounting. 5. In the year-end accounts settlement, the credit balance of this account shall be transferred to the account of "Balance". And there shall be no balance on this account after the year-end account transfer. CHAPTER IV FINANCIAL ACCOUNTING REPORT Article 13. The financial accounting report submitted by a donation project shall include the accounting statements and the explanatory statements on financial condition. The accounting statements shall include the balance sheet (form 1), the statement of revenues and expenditures (form 2), the schedule of application of capital (form 3), and the statement of income and expenditure of special accounts (form 4). Article 14. The main contents of the explanatory statements on financial condition shall include: execution of the donation project, receipts and payments of donation capital, receipts and payments of match capital, use of special accounts, payments for tendering and procurement, gains and losses for rate risk, settlement of current accounts, accounting treatments, alteration of the accounting report and other matters need to be explained. Article 15. Instruction for formulation of accounting statements 1. Balance Sheet (Form 1) a. This form is used to reflect the assets, debts and net assets of the donation capital at the end of a term. b. The column of "Beginning Sum" shall be filled out based on the item of "End Sum" in the balance sheet of the last term. c. The column of "End Sum" shall be filled out based on the analysis of the end balance of the relevant items. 2. Statement Of Revenues And Expenditures (Form 2) a. This form shall be used to reflect the revenues, expenditures and balance of the donation project of the current term. b. The column of "Sum of the Current Month" shall be filled out based on the sum occurring in the current month. c. The column of "Accumulative Total of the Current Year" shall be filled out based on the occurring sum of end accumulative total of the current term and the last term. d. The column of "Balance" shall be filled out based on the analysis of the relevant items. 3. Schedule Of Application Of Capital (Form 3) a. This form shall reflect the fulfillment of the donation capital and match capital, and shall be filled out by separating donation capital and match capital. b. Contents of and methods for filling out the columns of this form: (1) The column of "Verified Sum" shall reflect the accumulative verified sum from the day of effectiveness of the project, and shall be filled out on the basis of the types set forth by the donation capital agreement or the relevant provisions on match capital; the column of "To be Verified" shall reflect the sum of donation capital or match capital that haven't been verified due to special circumstances. In case of schedule of application of match capital, the columns of "Agreed Sum" and "Agreed Currency" shall not be filled out. (2) The column of "Sum Occurring in the Current Term" shall reflect the donation capital and match capital acquired by the donation transfer institution in the current term. (3) The column of "Accumulative Occurring Sum" shall reflect the donation capital and match capital accumulatively acquired by the donation transfer institution from the day of effectiveness of the donation project to the end of the current term. (4) The column of "Balance" shall reflect the donation capital unfulfilled by the donator, and shall be filled out based on the balance between the "Verified Sum" and the "Accumulative Occurring Sum" of the donation capital or match capital of the donation project. 4. Statement Of Income And Expenditure Of Special Accounts (Form 4) a. This form shall reflect the income and expenditure in the current term of the special accounts of the donation project, and shall be filled out based on the "Bank Journal". b. Contents of and methods for filling out this form: (1) The column of "Beginning Balance" shall reflect the balance of the special accounts of the donation transfer institution at the beginning of the term. (2) The column of "Sum Transferred in of the Current Term" shall reflect the donation capital transferred in of the current term. (3) The column of "Interest Income" shall reflect the interest income occurring in the special accounts in the current term. (4) The column of "Returned Sum for Disqualified Expenses" shall reflect the disqualified expenses the donation transfer institution actually drew back from the execution agency. (5) The column of "Sum Paid in the Current Term" shall reflect the payments made from the special accounts in the current term. (6) The column of "Bank Charges" shall reflect the bank charges paid from the special accounts in the current term. Article 16. Types of Accounting Statements No: Form 1 Name: alance sheet Report Period: Monthly report, annual report No: Form 2 Name: Statement of Revenues and expenditures Report Period: Monthly report, annual report No: Form 3 Name: Schedule of execution of donation capital agreement Report Period: Monthly report, annual report No: Form 4 Name: Statement of income of expenditure of special accounts Report Period: Monthly report, annual report Article 17. Format of accounting statements BALANCE SHEET (FORM 1) Project name: Donation number: Currency Unit: Date Month Year 1. Assets No.1 Asset Type: Cash in hand Amount at the beginning: Amount at the end: No.2 Asset Type: Cash at bank Amount at the beginning: Amount at the end: No.3 Asset Type: Accounts receivables Amount at the beginning: Amount at the end: Assets: Total: 2. Debts No.11 Asset Type: Accounts payables Amount at the beginning: Amount at the end: No.12 Asset Type: Receives in advanced Amount at the beginning: Amount at the end: 3. Net Assets No.21 Asset Type: Special capital Amount at the beginning: Amount at the end: No.22 Asset Type: Balance Amount at the beginning: Amount at the end: Total debts and net assets: Examiner: Formulator: Formulating Entity (official stamp): STATEMENT ON REVENUES AND EXPENDITURE (FORM 2) Project name: Donation number: Currency Unit: Date Month Year Revenues No.1 Type: Donation Transferred In Monthly Accumulated: Yearly Accumulated: No.2 Type: Matched Capital Transferred In Monthly Accumulated: Yearly Accumulated: No. 3 Type: Interest Income Monthly Accumulated: Yearly Accumulated: Total Revenues: Expenditure No.11 Type: Donation Transferred Out Monthly Accumulated: Yearly Accumulated: No.12 Type: Matched Capital Transferred Out Monthly Accumulated: Yearly Accumulated: No.13 Type: Other Expenditure Monthly Accumulated: Yearly Accumulated: Total Expenditure: Balance of current year Balance of the previous year Balance carried forward: Examiner: Formulator: Formulating Entity (official stamp): SCHEDULE OF APPLICATION OF CAPITAL (FORM 3) Project name: Capital Nature (Donation/Match) Donation number: Agreed Currency: Agreed Total Amount: Date Month Year Type: Agreed amount: Verified amount Amount occurring in the current term: Amount accumulated: Difference: Sum to be verified: Total: Examiner: Formulator: Formulating Entity (official stamp): STATEMENT ON INCOME AND EXPENDITURE OF SPECIAL ACCOUNTS (FORM 4) Project Name: Name of Opening Bank: Donation number: Account Number in the Opening Bank: Currency Unit: Capital Nature: Date Month Year I. Beginning Balance Sum Addition: 1. Sum Transferred in of the current term 2. Interest income 3. Returned sum for disqualified expenses Reduction: 1. Paid sum of the current term 2. Bank charges II. End Balance Examiner: Formulator: Formulating Entity (official stamp): CHAPTER V SUPPLEMENTARY PROVISIONS Article 18. These Measures shall come into force on January 1, 2003. |
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