Ministry of Finance, Financial Handling of Loss of Enterprise Assets Tentative Measures

财政部企业资产损失财务处理暂行办法

October 31, 2003 | BY

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Promulgated: September 3 2003Effective: October 5 2003Main contents: The Measures define loss of assets as the real destruction of an enterprise's assets,…

Clp Reference: 3300/03.09.03 Promulgated: 2003-09-03 Effective: 2003-10-05

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Promulgated: September 3 2003
Effective: October 5 2003

Main contents: The Measures define loss of assets as the real destruction of an enterprise's assets, including loss on bad debt, inventory, fixed assets or projects under construction, guarantees, equity or claims investment, trading of securities, futures, foreign exchange, etc. They specify how to recognize different types of asset loss and the Measures for handling the loss.
Related legislation: Enterprise Finance General Provisions; Ministry of Finance, Establishment of a Sound System for Administering Enterprise Accounts Payable Circular, 2002

clp reference:3300/03.09.03
promulgated:2003-09-03
effective:2003-10-05