Business Setup
Accounting
A China operation needs accounting records that satisfy local obligations and give headquarters a dependable view of cash, revenue, cost and exposure. The finance model should define who records transactions, who reviews evidence, how the month-end close works and how local results are reconciled with group reporting.
Building a Reliable Finance Function
01
Set ownership of the books
Assign responsibility for transaction entry, supporting documents, reconciliations, review and approval. External accountants can perform tasks, but management still needs a named owner for completeness and accuracy.
Control record: Process owner / Reviewer / Approval limit / Escalation route
02
Design the reporting calendar
Map statutory, tax, treasury and group reporting deadlines into one close timetable. Dependencies and late inputs should be visible before they affect management reporting or filing readiness.
Close design: Cut-off / Reconciliations / Adjustments / Group submission
From Transaction Records to Management Reporting
03
Connect evidence to each transaction
Invoices, contracts, approvals, payment records and expense support should follow a consistent evidence standard. Gaps need an exception process rather than informal correction at month end.
Evidence test: Source document / Business purpose / Approval / Retention
04
Reconcile local and group reporting
Identify differences in account mapping, reporting policy, currency and close timing. Headquarters should understand which adjustments are local, which are group entries and who approves them.
Management view: Chart mapping / Adjustments / Currency / Sign-off
Accounting Control Priorities
Guide
Practical guidance on bookkeeping ownership, transaction evidence, reconciliations, month-end close and reporting from a China operating entity.
Comparison
Comparisons of in-house, outsourced and hybrid accounting models across control, capability, cost, continuity and management visibility.
Review
Reviews of account mapping, invoice and expense workflows, balance-sheet reconciliations, close quality, reporting controls and adviser oversight.
FAQ
Answers to recurring finance questions on records, responsibilities, reporting timetables, local documents, group consolidation and control exceptions.
Resources
Close calendars, account mapping files, document standards, reconciliation schedules and handover materials for an accountable finance operation.
Tool
Working tools for close readiness, control ownership, evidence checks, reconciliation tracking and review of reporting exceptions.
Case
Examples of how foreign companies organised local accounting, improved close discipline and established reliable reporting to headquarters.
News
Developments affecting accounting administration, reporting practice, record keeping and the operation of finance processes in China.
How to Use the Accounting Hub
Use Guide to frame the work, Comparison and Review to test alternatives and risk, and FAQ and Resources to prepare the working file. Tool and Case support the management recommendation; News confirms whether the underlying assumptions remain current.
Management should approve the accounting operating model, reporting calendar, control owners and evidence standard before transaction volumes increase. The first closes should be reviewed against a documented checklist, with unresolved balances and process exceptions assigned to named owners.