Article 7 The following matters should go through accounting procedures and business accounting:

1. Receipts and payments of funds and/or securities;
2. The receipt and disposal, increase and decrease and use of a piece of property;
3. Occurrence and settlement of a credit or debt;
4. Increase or reduction of capital and funds as well as income and outlays;
5. Calculations of revenue, expenses or costs;
6. Calculation and treatment of financial achievements; and
7. Any other matters necessary for going through accounting procedures and business accounting.

Article 8 The financial year begins on 1 January and ends on 31 December of the Gregorian calendar.

Article 9 Renminbi shall be the unit used in accounting books.

Units whose primary income and outlays are in foreign currency (currencies) may choose a certain foreign currency as the unit used for accounting purposes. In such cases, the currency shall be converted into renminbi when compiling accounting statements."

Article 10 Accounting proofs, accounting books, accounting statements and other accounting data shall conform to provisions regarding uniform state accounting systems. Forgery or alteration of accounting proofs or accounting books or submission of false accounting statements are not allowed."

When computers are used in accounting, requirements regarding software used and the accounting proofs, accounting books, accounting statements and other accounting data generated there from shall conform to State Council and Ministry of Finance provisions.

Article 11 In handling the matters listed in Article 7 of this Law, original vouchers must be filed or presented, and should be handed over to the accounting body in good time. The accounting body must examine the original vouchers and draw up accounting vouchers on the basis of the examined original vouchers.

Article 12 Units may set up their own accounting departments and accounts books in accordance with the provisions of the accounting system.

The accounting body, according to the examined original vouchers and accounting vouchers, shall calculate accounts in line with the provisions of the accounting system.

Article 13 Units should set up a property-checking system to ensure that the accounting records conform with the quantities of existing materials and funds.

Article 14 Units shall compile accounting statements according to the uniform state accounting systems and on the basis of accounting books and submit them to the Ministry of Finance and other departments concerned.

Accounting reports should be signed or sealed by the unit's administrative head, the leading member of the accounting body and the accountant in charge. Units with a general accountant should also have their accounting reports signed or sealed by him or her.

Article 15 Vouchers, accounts books, reports and other accounting data should be filed and well kept in accordance with the related rules of the State. The time limits for the keeping of accounting files and the methods of their destruction will be decided by the financial department of the State Council jointly with the departments concerned.