Finance and accounting procedures include various accounting procedures such as income and expenditure, custody, and disposal.
Financial income of cultural foundations shall in principle be deposited upon collection. With the exception of short-term working capital, the income of cultural foundations shall be deposited into financial institutions. and may not be deposited at other public or private enterprises or individuals.

Events leading to changes in assets, liabilities, equity, income or expenses of a cultural foundation are accounting events.
Accounting events involve rights and obligations to parties other than the cultural foundation are external accounting events. Accounting events do not involve parties other than the cultural foundation are internal accounting events.
Accounting events shall be recorded using the double-entry bookkeeping method.

Accounting events must be recorded in accordance with the sequence of occurrence on a daily basis no later than two months after such occurrence.

Cultural foundations shall produce official receipts for income from donations.
The receipts in the preceding paragraph shall be clearly specified and they shall include the following fields and information:
1. Serial number, issuance date, name of recipient cultural foundation, address of the foundation, unified business number, and approved registration document number.
2. Basic information of the donor, donation amount or product name of non-cash items, unit, and quantity.
The receipt specified in Paragraph 1 shall be affixed with the seals of the cultural foundation, chairperson, and handling officer. A stub or other certificate or forms that can be used as evidence shall be retained for reference.
When using the deposit, both the chairperson or authorized representative of the cultural foundation and the in-charge accountant shall apply their seals on the withdrawal certificate.

Subsidiary organizations of cultural foundations established in accordance with other laws and regulations shall perform accounting affairs and operate independently on a regular basis. However, their balances shall be listed in the income and expenditure of the cultural foundation at the end of the fiscal year for consolidated management and usage. They may not prepare separate annual income and expenditure budgets or final accounts.
The foundation's balance of the accounts from the previous fiscal year may be used as a source of income for expenditures in the next fiscal year.

When cultural foundations process finances, no accounting document may be prepared and no record must be entered in account books and statements unless they are based on true events.

All the accounting documents of a cultural foundation, except those which should be permanently kept or which are related to unsettled accounting events, must be kept for at least five years after the completion of annual closing procedures and the report to the Ministry for record.
All the accounting books and financial statements, except those for unsettled accounting events, must be kept for at least ten years after the completion of annual closing procedures and the report to the Ministry for record.
Upon the expiry of the retention period of the accounting vouchers, books, and financial statements in Paragraph 1 and the preceding paragraph, they may only be destroyed with the approval of the chairperson of cultural foundation or authorized individual; where government subsidies or appointments are involved, the regulations shall apply.