Accounting

Case Study: Internal Control Review for subsidiaries in China

What is an Internal Control Review (ICR)? The goal of an ICR is answering to the question whether an internal control is established and sufficiently executed in a company. The main emphasis herein relies on the specific management and control proc...

Starting a business in Germany (3): Requirements for accounting and audit

Have you checked out the previous articles about German taxation regulations under our "Starting a business in Germany" series yet? If not, feel free to read more about German VAT and input tax, German trade tax and corporate tax. This time, to co...

No CFO? Why not hire a Virtual CFO

There are not too many differences between a CFO and a virtual CFO, however, those few differences are quite large and are the make or break sometimes of a company. What is a virtual CFO and what is their responsibility? A virtual CFO is...

Breakfast Seminar: Cash is king! Effective Cash Flow Management Strategies (13. Sept.2018)

Breakfast seminar on cash flow management by ECOVIS Beijing and the German Centre Beijing Challenges and pressures for enterprises in the complex and volatile financial market are constantly increasing. The survival and development of enterprises no...
the cloud

Why Should You Take Your Accounting to The Cloud?

As China's economy has been developing rapidly, foreign direct investment (FDI) has also been on the rise in line with the economic growth. Since 2015, the FDI has reached close to 120 Billion USD. While it’s tempting to invest in China, there might ...

Common Mistakes, and how to Avoid Them

Some of the most common mistakes our clients make, and how they can easily be avoided While every case we deal with is unique, some mistakes are more common than others. We recently audited a client’s Chinese branch and found some very common, and a...
franchising china

New Regulations on Chinese Financial Accounts

On May 19th, 2017, several Chinese agencies, including the Central Bank and the Ministry of Finance, announced new requirements for all financial accounts.  The new requirements will take effect July 1st, though institutions will have one year to ma...
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How to structure your accounting for business in China

When a small business starts to operate, it is vital that it works out how to structure and staff the accounting position. Accounting is not only about getting a technically correct financial statement, it is more about getting your business under co...
Company Health Check

Why does your company need a regular health check?

Similar to the human organisms, businesses and their internal organizations require a regular health check. As humans are often occupied with their daily concerns and aspirations, so are managers with profit maximization and business strategies. More...
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ECOVIS Beijing now uses MEGI

Accounting in China can be hard work. Juggling daily transactions, long-term expense reports, annual tax compliance audits and the like can be nigh-impossible for the non-expert, but, often, small businesses don’t have the financial resources to supp...