Is there virtual currency in accounting standards

1.

Some virtual currencies are illegal in China. Chinese laws prohibit virtual currencies. The only legal currency in China is RMB. Since the people's Republic of China issued RMB, it has lasted 71 years. With the development of economic construction and the needs of people's life, it has graally improved and improved. So far, it has issued five sets of RMB, forming a multi variety and multi series monetary system of paper money and metal money, ordinary commemorative money and precious metal commemorative money

except for 1,2,5 fen coins, the first, second and third sets of RMB have been withdrawn from circulation, and the fourth set of RMB has been suspended from circulation since May 1, 2018 (except 1 jiao, 5 jiao notes and 5 jiao, 1 yuan coins). The current circulation of RMB is mainly the fifth set of RMB issued in 1999

< H2 > extended information

the people's Bank of China is scheled to issue the fifth set of RMB 50 yuan, 20 yuan, 10 yuan, 1 yuan banknotes and 1 yuan, 5 jiao, 1 jiao coins of the 2019 edition from August 30, 2019. The fifth set of RMB inherits the traditional experience of China's printing technology and draws lessons from the advanced technology of foreign banknote design, which has greatly improved its anti-counterfeiting performance and currency processing modernization

Chairman Mao Zedong's head portrait in the early days of the founding of the people's Republic of China is used on the front of each denomination currency, the famous Chinese flower pattern is used on the bottom, and the main scenery pattern on the back fully shows China's long history and magnificent mountains and rivers, and carries forward China's great national culture by selecting representative patterns with national characteristics

3. According to the relevant provisions of the accounting standards for business enterprises (2006), monetary assets refer to the monetary funds held by enterprises and the assets to be collected at fixed or determinable amounts, including cash, bank deposits, accounts receivable and notes receivable, as well as bond investment to be held to maturity

according to this, the future amount of "shares held by units" in the question is not fixed and uncertain, and is not a monetary asset“ The purpose of holding "fixed assets" is to use, not to collect fixed or determinable monetary amount, and it does not belong to monetary assets

therefore, alternative answers a and C should be selected in the question.

4. The latest accounting standards for business enterprises:
the system of accounting standards for business enterprises in China consists of three parts: basic standards, specific standards and application guidelines
outline basic criteria, which play a controlling role in the whole criteria system
item specific criteria refer to the specific requirements for relevant business or reports in accordance with the principles of basic criteria
supplement Application guide is the operation guide for specific criteria
the system of accounting standards for business enterprises issued this time includes one basic standard, 38 specific standards and the application guide of relevant specific standards
China's accounting standards for business enterprises strengthen the new concept of providing useful accounting information for investors and the public in decision-making; It has achieved convergence with international accounting practice; It is the first time to build a relatively complete organic unified system; It provides a useful reference for the improvement of international financial reporting standards
contents of the book:

accounting standards for Business Enterprises No. 1 - inventory
accounting standards for Business Enterprises No. 2 - long term equity investment
accounting standards for Business Enterprises No. 3 - investment real estate
accounting standards for business Enterprises No. 4 - fixed assets
accounting standards for Business Enterprises No. 5 - biological assets
accounting standards for Business Enterprises No. 6 - intangible assets
accounting standards for business enterprises No. 7 - exchange of non monetary assets
accounting standards for Business Enterprises No. 8 - asset impairment
accounting standards for Business Enterprises No. 9 - employee compensation
accounting standards for Business Enterprises No. 10 - enterprise annuity fund
accounting standards for Business Enterprises No. 11 - share based payment
accounting standards for Business Enterprises No. 12 - debt restructuring
accounting standards for Business Enterprises No. 13 - contingent basis item < B R / > ASBE 14 - Revenue
ASBE 15 - construction contract
ASBE 16 - government subsidy
ASBE 17 - borrowing cost
ASBE 18 - income tax
ASBE 19 - foreign currency conversion
ASBE 20 - business combination
Enterprise Accounting standards for Business Enterprises No. 21 - leasing
accounting standards for Business Enterprises No. 22 - recognition and measurement of financial instruments
accounting standards for Business Enterprises No. 23 - transfer of financial assets
accounting standards for Business Enterprises No. 24 - hedging
accounting standards for business Enterprises No. 25 - original insurance contracts
accounting standards for Business Enterprises No. 26 - reinsurance contracts
accounting standards for Business Enterprises No. 27 - hedging - Petroleum and natural gas exploitation
accounting standards for Business Enterprises No. 28 - accounting policies Changes in accounting estimates and error correction
ASBE No. 29 - events after the balance sheet date
ASBE No. 30 - presentation of financial statements
ASBE No. 31 - cash flow statement
ASBE No. 32 - interim financial report
ASBE No. 33 - consolidated financial statements
ASBE No. 34 Accounting standards for Business Enterprises No. 35 - segment report
accounting standards for Business Enterprises No. 36 - related party disclosure
accounting standards for Business Enterprises No. 37 - presentation of financial instruments
accounting standards for Business Enterprises No. 38 - first implementation of accounting standards for business enterprises
IFRS: International Financial Reporting Standards (IFRSs, International financial reporting standards is a standard accounting system issued by the international accounting standards board (IASB), which is easy to be implemented by various countries in cross-border economic transactions. IFRS is a global uniform financial rule and a financial management standard operating in accordance with international standards. It is used to regulate the accounting operation of enterprises or other economic organizations all over the world, so that the economic interests of all countries can be protected by one standard, and unnecessary economic losses will not be caused by different calculation methods caused by different standards. IASB also entrusts professional accounting bodies such as the International Association of Accountants (AIA) to train professional senior accountants<
contents of the book:
Part I:
contents of financial statements
IAS framework for preparation and presentation of financial statements
IFRS 1 first time option of IFRS
section B assets and revenue
Part II:
assets and income
IAS 2 inventories
IAS 11 construction contracts
IAS 16 property, Plant & Equipment
IAS 18 Revenue
IAS 20 Government Grants and Government Assistance
IAS 23 Borrowing Costs
IAS 32 Financial instruments: Presentation and Disclosure
IAS 36 Impairment of Assets
IAS 38 Intangible Assets
IAS 39 Financial instruments: Recognition and Measurement
IA S 40 Investment Property
Section C liabilities
liabilities
IAS 10 events after the balance sheet date
IAS 12 income taxes
IAS 17 leaves
IAS 19 employee benefits
IAS 37 Provisions, Continuous liabilities and continuous assets
Section D group accounts
Part 4:
consolidated accounting
IFRS 3 business combinations
IAS 21 the effects of changes in foreign exchange rates
IAS 27 Consolidated financial statements and accounting for
investments in subsidiaries
IAS 28 accounting for investments in subsidiaries Associations
IAS 29 Financial Reporting in hyperinformative economies
IAS 31 Financial Reporting of interests in joint ventures
section e reporting and disclosure
Part V:
presentation and disclosure
IFRS 5 disposal of non current assets and presentation of discontinued
operations
IAS 1 presentation of financial Statements
IAS 7 Cash Flow Statements
IAS 8 Net Profit or Loss for the Period, Basic errors and changes in
accounting policies
IAS 14 segment reporting
IAS 24 Related Party Disclosures
IAS 33 earnings per share
IAS 34 interim reporting
section f other international accounting standards
Part VI:
other international accounting standards
IFRS 2 share based payment
IFRS 4 Insurance Contracts
IAS 26 accounting and reporting by retirement benefit plans
IAS 30 disclosures in the financial statements of banks
IAS 41 agriculture
the main differences lie in the classification of some subjects and the basis of formulation.

5.

The national conditions of different countries are different, so the setting of accounting standards in principle is different

it is discussed in the following main countries

(1) the basic accounting principles of the United States are embodied in the announcement of financial accounting concepts, in which the basic principles for the preparation of accounting statements are separated from the basic principles for the recognition and measurement of accounting elements. The basic principles of preparing accounting statements are expressed in terms of the quality of accounting information in the announcement

the announcement of financial accounting concept has not clearly stated or established the basic principles of accounting recognition and measurement, such as "historical cost principle", "realization principle" and "matching principle"

As far as the measurement basis of assets and liabilities is concerned, the announcement lists six methods applied in current accounting measurement, including original cost (original income), current cost, current market price, realizable net value and present value of future flow, and holds that "the characteristics of current practice are that several measurement attributes are developed simultaneously, It does not attempt to say that the current practice is based on a single attribute "; In terms of unit of measurement, the announcement holds that "among the various items recognized in the financial statements, the nominal monetary unit will continue to be used for measurement."

in terms of revenue recognition, the announcement lists two basic conditions: realized or realizable and won. When both conditions are met, revenue can be recognized. Realization refers to the conversion of non cash assets or rights into currency; And in accounting and financial reporting, the most precise use is the requirement to sell for cash, or to receive cash. " Profit making means that the profit making process or activity is basically completed. In addition, the announcement also lists the time points of revenue recognition under six special circumstances

in terms of expense recognition, the announcement does not directly establish the "matching principle", but only stipulates that "when an indivial submits or proces goods, provides services or other major or core daily activities, and continues to generate future economic benefits or the benefits generated will decrease, it is generally recognized as expenses and losses."

in the accounting recognition and measurement principles of the announcement, the principle of conservatism has not been established, nor has conservatism been taken as the basic feature and the second level feature of accounting information, but conservatism has been explained separately in the third volume of "quality features of accounting information"

(2) Japan's basic accounting principles, as the common general guidelines for the preparation of profit and loss statements and loan balance sheets, stipulate the following seven general principles: (1) the principle of authenticity; (2) the principle of accounting for business enterprises; (3) the principle of accounting for business enterprises; (4) the principle of accounting for business enterprises; (4) the principle of accounting for business enterprises; (4) the principle of accounting for business enterprises; (4) the principle of accounting for business enterprises; (4) the principle of accounting for business enterprises; (4) the principle of accounting for business enterprises; (4) the principle of accounting for business 2) The principle of regular bookkeeping 3) The principle of distinguishing capital from profit 4) The principle of clarity 5) Consistency principle 6) The principle of conservatism 7) The principle of oneness

The principle of authenticity stipulates that "enterprise accounting must provide a true report on the financial status and operating results of an enterprise." It is the principle in the highest position. The authenticity here means relative authenticity, which should be achieved by following the other principles of accounting principles for business enterprises

the principle of regular bookkeeping stipulates that "enterprise accounting must make correct accounting books for all transactions in accordance with the principle of regular bookkeeping." It requires that we must use the bookkeeping method (Jifu bookkeeping) which can meet the requirements of generality, order and verification to make the correct accounting books, and at the same time, we must make the accounting statements according to the correct accounting books

The principle of the difference between capital and profit stipulates: "it is necessary to clearly distinguish between capital transaction and profit and loss transaction, especially that capital reserve and surplus reserve should not be confused." It requires proper profit and loss calculation by clearly distinguishing capital as principal from profit as fruit

The principle of clarity stipulates that "through the financial statements, the enterprise accounting must clearly state the necessary accounting facts to the interested parties, and must not make them make the wrong judgment about the enterprise status." It requires that proper and sufficient information must be revealed by clearly expressing financial statements and related important matters

The principle of consistency stipulates that "the principles and proceres of enterprise accounting shall continue to apply in each period and shall not be changed arbitrarily." It requires that when there are several accounting principles or proceres that can be applied to an accounting fact, as long as there is no justifiable reason, the adopted accounting principles or proceres must continue to be applied in each period. In addition, the notes to accounting principles for business enterprises stipulates that when important changes are made according to legitimate reasons, they must be explained in the financial statements

The principle of conservatism stipulates that "when there is a possibility of adverse impact on the financial affairs of an enterprise, it should be prepared and properly sound accounting treatment should be carried out." It requires that, in order to prevent the risks brought by the uncertain future, accounting treatment must be carried out according to moderate and prudent judgment

the principle of oneness stipulates: "when it is necessary to make different forms of financial statements for the purposes of credit, tax and other purposes to the general meeting of shareholders, the contents of these financial statements should be made based on reliable accounting records, and should not be distorted by policy considerations." It requires that although the forms of financial statements are various, the content of accounting value contained in them should be single

In addition, the above general principles, especially those related to the principle of formal bookkeeping and the principle of clarity, have made the following provisions on the specific application of the so-called importance principle in the notes to the accounting principles for business enterprises:

(1) for the items lacking importance, simple processing and expression methods can be adopted instead of the original strict method

(2) important accounting policies must be explained and revealed in the financial statements

(3) important events after the period must also be explained and disclosed in the financial statements

(3) the basic accounting principles of UK are Harold. Bilman and Allen. Professor draebin divides accounting principles into three categories: Environmental assumptions, business practices and quality factors

When preparing financial statements, accountants need to make assumptions about the status of their subjects and the economic environment they are in, such as the situation of the accounting profession. The more important of these assumptions are: (1) business entity. It is necessary to assume that the enterprise is independent of the owner and business environment. Only in this way can we define a boundary for the report; Only those transactions that affect the entity are reflected in the financial statements 2) The concept of continuing operation can be regarded as the extension of the concept of enterprise subject. In the preparation of financial statements, it is assumed that the entity will continue to develop indefinitely in its current form 3) Stable monetary unit: the value of the monetary unit used in the preparation of financial statements remains stable 4) Accounting period, assuming that the continuous operation period of an enterprise can be divided into several unrelated periods (accounting period), and accounting statements are prepared in each period

after making assumptions about their environment, accountants adopt a set of conventions to prepare statements representing relevant economic matters 1) Historical cost. Historical cost is the valuation basis that should be used in the preparation of financial statements. In other words, all assets in the report are reflected at acquisition cost, and fixed assets are adjusted according to depreciation when appropriate 2) Implementation principle. According to convention, all profits are only recognized in the current period when sales are realized, that is, when income is realized 3) Matching principle. The cost is proportional to the income it generates 4) Duality. This practice is associated with double entry bookkeeping. It requires accountants to make double reflection on every transaction in the account, because in the process of operation, every action has the same or opposite reflection 5) Measurement or monetary measurement. The Convention is that all items in a report must be measurable. That is, it can be expressed by monetary value

In the process of applying business practices, accountants will also strive to make the financial statements have certain quality characteristics: (1) objectivity. Objectivity means that the records in the ledger and accounting statements must be able to be verified by independent personnel. This is to ensure that the financial statements are unbiased and to rece the possibility of accountants making subjective judgments when preparing the financial statements 2) Caution. This is what the United States used to and now commonly calls conservatism. The principle points out that when an accountant can use more than one method to deal with a project, he should choose one of the available methods that can provide robust results 3) Consistency. This factor requires that when a transaction or economic event occurs again in different periods, the accounting statements of each period should be the same 4) Importance. In short, the importance principle means that the treatment of an item in a report depends on its importance. It's a concept of relevance

(4) the basic accounting principles in France are authenticity, conservatism and legal law. After the promulgation of EEC directive 4, "truthfulness and fairness" has become a basic principle. Generally speaking, accounting that emphasizes conservatism is mainly manifested in the provision of various kinds of reserves, which is also a common practice in continental European countries. However, e to the influence of tax law, France's prudent accounting does not have the habit of provision for bad debts, nor does it use LIFO to price inventory. In western developed countries, it is rare to emphasize the principle of legality, while in France, it is emphasized. The notes to financial statements require the disclosure of "details that violate many laws and regulations in order to reflect the" true and fair "view." This is consistent with the French government decree emphasizing unified accounting, which requires compliance with current laws and regulations“ "True and fair" originated from the British company act of 1948, and prevailed in Europe after the EEC directive No. 4, so far there is no accurate statement

(5) China's basic accounting principles can be divided into four categories according to their functions in Accounting: first, the general principles reflecting the requirements of totality; second, the general principles reflecting the requirements of totality; Second, the general principles of accounting information quality requirements; The third is to embody the general principles of accounting elements confirmation and measurement; The fourth is to reflect the general principles of accounting revision convention

(1) the principle of objectivity refers to that the accounting must be based on the actual economic business and the legal evidence to prove the economic business, truthfully reflect the financial situation and operating results, so as to achieve true content, accurate figures and reliable data

(2) principle of comparability

principle of comparability means that accounting must comply with the unified provisions of the state and provide mutually comparable accounting data

(3) consistency principle

consistency principle refers to that the accounting proceres and accounting treatment methods adopted by enterprises must be consistent in each period before and after, and it is required that the accounting proceres and accounting treatment methods should not be changed at will

(1) the principle of relevance refers to that the accounting information must conform to the macroeconomic management

6. It will not affect the authenticity of accounting information. Although the professional judgment of accounting involves accounting estimation, an accounting estimation may change the amount of relevant items in the balance sheet and income statement. However, this kind of influence must be within a reasonable range, which will not affect the decision-making of the users of the statements. So it will not affect the authenticity of accounting information. One of the quality requirements of accounting information is the authenticity requirement. If the allowed professional judgment can affect the authenticity, you will not be allowed to make professional judgment, and all of them should be regulated to death
in addition, there are some assumptions in the accounting work itself, and the calculated cost can not be 100% correct. For example, the first in first out method is used to carry forward the inventory cost. Can you say that the inventory must be first in first out
I'm just talking about the reasons. The answers can't be in these words. ha-ha.

7. This does not violate the accounting standards, nor is it illegal...

only if you have foreign currency accounts (such as bank deposits with foreign currency), if you do not pass the foreign currency accounting, it will be more troublesome...

can not accurately calculate the balance of foreign currency deposits

hope to help you!

8. New accounting standard No.1 of 2010 - inventory
Chapter I General Provisions
Chapter II confirmation
Chapter III Measurement
Chapter IV disclosure
New Accounting Standard No.2 - long term equity investment
Chapter I General Provisions
Chapter II initial measurement
Chapter III subsequent measurement
Chapter IV disclosure
New Accounting Standard NO.3 - Investment Capital real estate
Chapter I General principles
Chapter II confirmation and initial measurement
Chapter III subsequent measurement
Chapter IV conversion
Chapter V disposal
Chapter VI disclosure
New Accounting Standard No. 4 - fixed assets
Chapter I General principles
Chapter II confirmation
Chapter III initial measurement
Chapter IV subsequent measurement
Chapter IV Chapter five disposal
New Accounting Standard No.5 - biological assets
Chapter one general principles
Chapter two confirmation and initial measurement
Chapter three subsequent measurement
Chapter four harvest and disposal
New Accounting Standard No.6 - intangible assets
chapter one general principles
Chapter two confirmation
Chapter three initial measurement
Chapter four subsequent measurement
Chapter Four Chapter 6 disclosure
New Accounting Standard No.7 - exchange of non monetary assets
Chapter 1 general principles
Chapter 2 recognition and measurement
Chapter 3 disclosure
New Accounting Standard No.8 - impairment of assets
Chapter 1 general principles
Chapter 2 recognition of assets that may be impaired
Chapter 3 measurement of recoverable amount of assets
Chapter 4 impairment of assets Determination of loss
Chapter V identification of asset group and treatment of impairment
Chapter VI treatment of goodwill impairment
Chapter VII disclosure
New Accounting Standard NO.9 - employee compensation
Chapter I General Provisions
Chapter II Recognition and measurement
Chapter III disclosure
New Accounting Standard No.10 - enterprise annuity fund
Chapter I General Provisions
Chapter II confirmation And measurement
Chapter III presentation
New Accounting Standard No.11 - share based payment
Chapter I General Provisions
Chapter II equity settled share based payment
Chapter III cash settled share based payment
Chapter IV disclosure
New Accounting STANDARD NO.12 - debt restructuring
Chapter I General Provisions
Chapter II Accounting Treatment of debtors
Chapter III Accounting treatment of creditors
Chapter IV disclosure
New Accounting Standards No. 13 - contingent events
Chapter I General Provisions
Chapter II Recognition and measurement
Chapter III disclosure
New Accounting Standards No. 14 - income
Chapter I general provisions
Chapter II income from sales of goods
Chapter III income from provision of services
Chapter IV income from transfer of right to use assets New accounting standard No.15 - construction contracts
Chapter I General Provisions
Chapter II separation and merger of contracts
Chapter III contract revenue
Chapter IV Contract Cost
Chapter V confirmation of contract revenue and contract expenses
Chapter VI disclosure
New Accounting Standard No.16 - government subsidies
Chapter I General Provisions
New Accounting Standard No/ >Chapter II Recognition and measurement
Chapter III disclosure
New Accounting Standard No.17 - borrowing costs
Chapter I General Provisions
Chapter II Recognition and measurement
Chapter III disclosure
New Accounting Standard No.18 - enterprise income tax
Chapter I General Provisions
Chapter II tax basis
Chapter III temporary differences
Chapter IV recognition
Chapter V Measurement
Chapter 6 presentation
New Accounting Standard No. 19 - foreign currency conversion
Chapter 1 general principles
Chapter 2 Determination of recording currency
Chapter 3 accounting treatment of foreign currency transactions
Chapter 4 translation of foreign currency financial statements
Chapter 5 disclosure
New Accounting Standard No. 20 - business combination
Chapter 1 general principles
Chapter 2 the same Business combination under control
Chapter 3 business combination under different control
Chapter 4 disclosure
New Accounting Standard No.21 - leasing
Chapter 1 general principles
Chapter 2 classification of leasing
Chapter 3 accounting treatment of lessee in financial leasing
Chapter 4 accounting treatment of lessor in financial leasing
Chapter 5 accounting treatment of lessee in operating leasing Chapter VI accounting treatment of Lessors in operating leases Chapter VII after sales accounting treatment Chapter VIII presentation accounting standards for business enterprises No.22 recognition and measurement of financial instruments chapter I General principles Chapter II Classification of financial assets and liabilities Chapter III embedded derivatives Chapter IV recognition of financial instruments Chapter V Financial Instruments Measurement of financial instruments Chapter VI impairment of financial assets Chapter VII determination of fair value Chapter VIII Financial Assets Definitions of financial liabilities and equity instruments
accounting standards for business enterprises No.23 - transfer of financial assets (2006)
Chapter I General Provisions
Chapter II confirmation of transfer of financial assets
Chapter III Measurement of transfer of financial assets
New Accounting Standards No.24 - hedging
Chapter I General Provisions
Chapter II hedging instruments and hedged items
Chapter III hedging Period recognition and measurement
New Accounting Standard No.25 - original insurance contract
Chapter I General Provisions
Chapter II Determination of original insurance contract
Chapter III income of original insurance contract
Chapter IV reserve of original insurance contract
Chapter V cost of original insurance contract
New Accounting Standard No.26 - reinsurance contract
Chapter I General Provisions
Chapter II ceding Accounting treatment of business
Chapter III Accounting Treatment of classified business
Chapter IV presentation
New Accounting Standard No. 27 - oil and gas exploitation
Chapter I General principles
Chapter II Accounting Treatment of mining area equity
Chapter III Accounting Treatment of oil and gas exploration
Chapter IV Accounting Treatment of oil and gas development
Chapter V Accounting Treatment of oil and gas proction
accounting treatment of mining area equity/ >Chapter VI disclosure
New Accounting Standard No. 28 - changes in accounting estimates and error correction
Chapter I General Provisions
Chapter II accounting policies
Chapter III changes in accounting estimates
Chapter IV correction of previous errors
Chapter V disclosure
New Accounting Standard No. 29 - events after the balance sheet date chapter I General Provisions
Chapter II after the balance sheet date Adjusting events
Chapter III non adjusting events after the balance sheet date
Chapter IV disclosure
New Accounting Standards No. 30 - presentation of financial statements
Chapter I General principles
Chapter II Basic requirements
Chapter III balance sheet
Chapter IV income statement
Chapter V statement of changes in owner's equity
notes to Chapter VI
New Accounting Standards No. 31 - - cash flow statement
Chapter I General Provisions
Chapter II Basic requirements
Chapter III cash flow from operating activities
Chapter IV cash flow from investment activities
Chapter V cash flow from financing activities
Chapter VI disclosure
new accounting standard No.32 - interim financial report
Chapter I General Provisions
Chapter II Contents of interim financial report
New Accounting Standard No.32 - Interim Financial Report Accounting standard No.33 - consolidated financial statements
Chapter I General Provisions
Chapter II Scope of consolidation
Chapter III consolidation proceres
Chapter IV disclosure
New Accounting Standard No.34 - earnings per share
Chapter I General Provisions
Chapter II Basic earnings per share
Chapter III diluted earnings per share
Chapter IV presentation
New Accounting Standard No.35—— Segment report -
Chapter I General Provisions
Chapter II Determination of reporting segments
Chapter III disclosure of segment information
New Accounting Standard No. 36 - disclosure of related parties
Chapter I General Provisions
Chapter II related parties
Chapter III related party transactions
Chapter IV disclosure
New Accounting Standard No. 37 - presentation of financial instruments
Chapter I General Provisions
New Accounting Standard No />Chapter II presentation of financial instruments Chapter III disclosure of financial instruments New Accounting Standards No. 38 - first implementation of accounting standards for Business Enterprises Chapter I General Provisions Chapter II Recognition and measurement Chapter III presentation