These standards are prescribed in accordance with Paragraph 2 to Article 30 of the Labor Union Act (here-in-after referred to as the Act).

Financial matters of a labor union shall be processed in accordance with these standards unless otherwise specified by other statutes.

A fiscal year of a labor union shall be adopted as a calendar year, which starts on January 1 and ends on December 31 of the year.

The accounting basis of a labor union shall be on the accrual basis, for those applying cash basis during the year, it shall be adjusted to the accrual basis at year end when closing account.
The accrual basis referred to in the preceding paragraph denotes that a revenue shall be recognized as such when a labor union becomes eligible to collect it and that an expense shall also be recognized as such when a labor union becomes liable to pay it. At the time of closing, revenues and expenses shall be adjusted to the fiscal year they belong through adjusting entries.
The cash basis referred to in Paragraph 1 to the Article denotes that a revenue shall be recognized as such when cash is received and that an expense shall be recognized as such when it is paid out.

The financial accounting of a labor union shall use New Taiwan Dollars as measurement units and foreign currencies shall be converted to New Taiwan Dollars.