Ministry of Finance Accounting Standard for Business Enterprises No. 10 – Enterprise Annuity Fund Cai Kuai [2006] No. 3 February 15, 2006 Chapter I General Provisions Article 1 To standardize the confirmation and measurement of enterprise annuity fund and the presentation of financial statements, these Standards Article 2 The term “enterprise annuity fund” refers to fund raised by an enterprise in the light of the enterprise annuity plan and the supplementary Article 3 The enterprise annuity funds shall be confirmed, measured and presented as independent accounting subjects. The entrusting party, entrusted party, trustee, account manager, investment manager and other subjects providing services for the Chapter II Confirmation and Measurement Article 4 The enterprise annuity fund shall be confirmed and measured respectively on the basis of assets, liabilities, incomes, expenses and Article 5 The assets formed by payments for the enterprise annuity fund and by the operation of the annuity fund shall include the monetary Article 6 During the operation of the enterprise annuity fund, the initial acquisition values and subsequent values of the national debt gained (1) The transaction price paid on the transaction date shall be measured as the fair value when an initially investment obtained. The (2) When estimating the value of an investment on the estimate day, the original carrying value of the investment shall be adjusted according The determination of the fair value of an investment shall be subject to the Accounting Standard for Business Enterprises No. 22 – Article 7 The liabilities formed during the operation of the enterprise annuity fund include the settlement accounts receivable of securities, Article 8 The incomes formed by the operations of the enterprise annuity fund include the interest incomes on deposits, interests, from the Article 9 The incomes shall be confirmed and measured according to the following provisions: (1) The interest incomes on deposits shall be determined according to the principal and applicable interest rate; (2) The incomes from buying of resold bonds shall, within the time limit of securities loan, be determined according to the purchase price (3) The gains on the changes in the fair value shall, on the estimate date, be determined according to the difference between the fair (4) The incomes of investment disposal shall be determined according to the difference between the price obtained from the sale of investment, (5) Other incomes such as risk reserves shall be determined according to the amount actually incurred. Article 10 The expenses incurred during the operation of the enterprise annuity fund include the transaction expenses, management fees of the Article 11 The expenses shall be confirmed and measured according to the provisions as follows: (1) The transaction expenses, including the commission charge, commissions and other necessary disbursements paid to the commissioned (2) The management fees payable to the entrusted party, trustee, and investment manager shall be determined according to the actual amount (3) The disbursements for the sale of repurchased bonds shall, within the time limit for financing, be determined in accordance with the (4) Other expenses shall be determined in accordance with the actually incurred amount. Article 12 The net assets of the enterprise annuity fund refers to the balance of the assets of the enterprise annuity fund minus liabilities. Different accounts shall be created for the net assets of an enterprise in view of the enterprise itself and the individual employees, Article 13 The net assets shall be confirmed and measured in accordance with the provisions as follows: (1) For the payments collected from the enterprise and employees, the net assets shall be increased according to the amount received; (2) For the treatments paid to the beneficiaries, the net assets shall be reduced in accordance with the amount payable; (3) As the transfer-in amount of an individual account incurred due to an employee’s transfer into the enterprise, the net assets shall (4) As the transfer-out amount of an individual account incurred due to an employee’s transfer out of the enterprise, the net assets shall Chapter III Presentation Article 14 The financial statements for the enterprise annuity fund include the balance sheets, net assets change statements and annotations. Article 15 The balance sheet shall reflect the financial status of the enterprise annuity fund on a specific date. It shall be presented and Article 16 The items of the assets shall at least present the information as follows: (1) The monetary fund; (2) The settlement accounts receivable of bonds; (3) The receivable interests; (4) The purchases of resold securities; (5) Other accounts receivable; (6) The bond investments; (7) The fund investments; (8) The stock investments; (9) Other investments; and (10) Other assets. Article 17 The items of the liabilities shall at least present the information as follows: (1) The settlement accounts payable of bolds; (2) The beneficiaries’ treatments payable; (3) The management fees payable to the entrustee; (4) The management fees payable to the trustee; (5) The management fees payable to the investment manager; (6) The taxes payable; (7) The amounts from the sale of repurchased bonds; (8) The payable interests; (9) The commissions payable; and (10) Other payables. Article 18 The items of the net assets shall present the net value of the enterprise annuity fund. Article 19 The net assets change statements shall reflect the increases and reductions of the net assets of the enterprise annuity fund, and (1) The opening net assets; (2) The current amount of increase of the net assets, including the current incomes, payments collected from the enterprise, payments (3) The current amount of reduction of net assets, including the current expenses, treatments paid to the beneficiaries, transfer-out (4) The closing net assets. Article 20 The annotations shall disclose the information as follows: (1) The main contents and important changes of the annuity fund plan of an enterprise; (2) The sorts of investments, amounts, and methods for the confirmation of the fair value; (3) The proportion of each kind of investments to the total amount of investments; and (4) Any other item that is likely to cause important influence on the investment value. Appendix: Balance Sheet htm/e04960.htm Appendix: Balance Sheet No. 01 Annual Annuity Fund Entity: Year Month Date Unit: Yuan
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