台湾法规/商業會計法

Article 2??The term "business" referred to in this Law shall mean the enterprises aiming at making profits.

The term "business accounting affairs" shall mean the handling of business accounting affairs pursuant to the generally accepted accounting principles and preparation of financial statements based thereon.

Article 3??The term "competent authority" referred to in this Law shall mean the Ministry of Economic Affairs at the central government level, the municipal government at the municipality directly under the jurisdiction of the Executive Yuan, and the Hsien (city) Government at the Hsien (city) level.

Article 4??The term "business responsible person" referred to in this Law shall be in accordance with Article 8 of the Company Law, Article 9 of the Business Registration Law, and relevant provisions of other laws.

Regarding the appointment and discharge of in-charge accountant of a corporate organization, in a company limited by shares, the approval of a majority of directors present at a directors meeting attended by a majority of directors shall be required;

in a limited company, the approval of a majority of all the shareholders shall be required;

in an unlimited company or a combined company, the approval of a majority of all the shareholders of unlimited liability shall be required.

When handling accounting affairs pursuant to law, an accountant shall be subject to the direction and supervision of managerial officers.

In the event of resignation or change of duties, the accountant shall complete hand-over within five (5) days.

Business accounting affairs may be handled by a certified public accountant or a person who has acquired the qualifications to handle accounting affairs for other persons according to law through delegation.

The registration and management rules shall be prescribed by the Central Competent Authority.

Article 6??A fiscal year shall commence on January 1 and end on December 31 of each year; provided that this shall not apply if the law provides otherwise or if there is special operation need.

Article 6??A fiscal year shall commence on January 1 and end on December 31 of each year; provided that this shall not apply if the law provides otherwise or if there is special operation need.

Article 7??A business shall keep accounts based on national currency.

In the event that the account keeping is based on a foreign currency due to business needs, such foreign currency shall be translated into national currency or local currency in the final statements.

Article 8??Records in business accounting shall be in Chinese, except that the figures in account keeping shall be Arabic numerals.

If due to actual needs, it is necessary to include or concurrently use a foreign language or local language, the Chinese shall still prevail.

Article 9??When the expenditure of a business exceeds a specified amount, such business shall use a draft, promissory note, check, money transfer, or other payment instrument or method approved by the competent authority, and the payee shall be indicated.

The amount referred to in the preceding Paragraph shall be decided by the Central Competent Authority.

Article 10??The accounting basis shall be on accrual basis.

The term "accrual basis" means that income is recorded when it becomes receivable and ascertained and expenses are recorded when they become payable and ascertained.

At closing, adjusting entries shall be made for the income and expenses based on the year they belong.

The term "cash basis" means that income is recorded when cash is received and expenses are recorded when cash is paid.

Article 11??The assets and liabilities of a business or increase/decrease or changes in owner′s equity are called accounting events.