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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 634 |
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report. There are even many differences between US GAAP and PRC GAAP tax rules as well. Cultural differences may play a big part in the quality of infrastructure, and business processes will be lower than that to which Western investors are accustomed. In addition, they frequently contain errors which first need to be corrected...
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In addition, they frequently contain errors which first need to be corrected. In addition to general deficiencies in the accounting records (incorrect bookings, etc.), local accounting rules sometimes differ significantly from Western accounting principles based on a true and fair view. For example, in almost every branch of industry, Chinese company receivables are aged by years and not months...
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