Summary
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(1) The State Council, various departments and directly affiliated institutions, and the finance departments of provinces, autonomous regions, municipalities, and separately planned cities, as well as the Xinjiang Production and Construction Corps Finance Bureau and the finance department's local regulatory bureaus, are hereby notified of the release of the 18th Interpretation of Enterprise Accounting Standards.
(2) The Interpretation aims to deepen the implementation of Enterprise Accounting Standards and address issues that have arisen during their execution. It also aims to maintain the consistency between China's Enterprise Accounting Standards and the International Financial Reporting Standards.
(3) The 18th Interpretation has been drafted to promote the continuous convergence of the two sets of standards, ensuring that they remain aligned. This move is expected to enhance the comparability and consistency of financial reports and statements.
(4) The Interpretation has been finalized and is now being distributed for implementation. All relevant parties are requested to comply with the new Interpretation and report any issues that may arise during its execution to the finance department.
(5) The 18th Interpretation of Enterprise Accounting Standards is attached to this notification for reference.