2008•Unpublished venueRequires access
Thoughts on the Contingency
Zhang Li
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Abstract
February 15, 2006, China's Ministry of Finance announced a new accounting standard for business enterprises, including Accounting Standard for Business Enterprises No.13-Contingencies. With the development of China's market economy and emergence of economic risks, the operation of an enterprise involves more contingency; therefore it plays a significant role in determining the financial status and operating performance.