The Accounting Standards for Business Enterprises are a set of authoritative accounting treatment regulations formulated and issued by the Ministry of Finance of the People's Republic of China in accordance with the Accounting Law of the People's Republic of China and other relevant laws and administrative regulations, with the aim of standardizing the recognition, measurement, and reporting practices of enterprises and ensuring the quality of accounting information.
Simply put, it is a set of "rules of the game" and "technical standards" that enterprises must follow when conducting accounting operations and preparing financial statements. Its core objective is to ensure that the financial information provided by all enterprises is true, complete, comparable, and useful.