National Cultural Affairs Foundations Accounting Standards and Financial Reporting Standards - Chapter - Laws & Regulations Database of The Republic of China (Taiwan)

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Chapter Law Content

Title：	National Cultural Affairs Foundations Accounting Standards and Financial Reporting Standards CH
Category：	Ministry of Culture（文化部）
Attachment：	[Appendix 1]Cultural Foundation Common Accounting（Item）Reference Table.pdf [Appendix 2]Budget Table Format for Government-Sponsored Foundations.pdf [Appendix 3].pdf [Appendix 4]Items Required in Foundations' Final Accounts.pdf [Appendix 5].pdf

Chapter 4 Financial Reporting

Article 18

Accounting items are classified into assets, liabilities, net worth, income, and expenditures.
Cultural foundations shall, based on actual operations, compile accounts required for various accounting items specified in the preceding paragraph into the accounting system in accordance with the Cultural Foundation Common Accounting (Item) Reference Table (Appendix 1).

[Appendix 1]Cultural Foundation Common Accounting（Item）Reference Table.pdf

Article 19

The financial reports specified in the Standards refer to financial statements, various accounting statements, and other disclosures and explanations that help users in decision making.
Financial statements include the asset balance sheet, income and expenditures (balance) table, net worth change statement, cash flow statement and the notes or appendices.

Article 20

Except for newly-established cultural foundations, the financial statements for two periods must be compiled for comparison.
Financial statements shall be signed or sealed by the chairperson, in-charge accountant; affairs related to the supervisors or in-charge personnel shall be signed or sealed by the supervisor or personnel in charge of the affairs.