• China National Advanced Payment System

    China National Advanced Payment System (CNAPS) is an electronic inter-bank clearing system which is owned by the People’s Bank of China (PBoC). Previously known as the Modern Payment System (MPS), CNAPS now forms one of the primary components of China’s financial infrastructure.

  • Trade finance explored

    Levels of trade have been hit hard by the financial crisis, but this does not necessarily mean that there is a reduced need for trade finance – quite the opposite. In this article we examine what trade finance is, the associated tools and techniques and the specifics of the China market.

  • Moving money

    The Chinese government strictly controls the flow of foreign currencies into and out of China. This is administered through the State Administration of Foreign Exchange (SAFE), which is a state-level government agency. Fundamentally, all money paid into and out of China must be registered with SAFE, either through a bank or by the applicants themselves. This issue, Sharon Su, Manager, LehmanBrown International Accountants discusses the key considerations for companies wishing to move funds into and out of China.

  • Price to cash flow ratio

    The price to cash flow ratio (P/CF) is used to determine whether a company’s share price is high or low in the context of its cash flow. This measure is useful to investors, as its results provide an indicator for a company’s market value, as well as enabling competitor analysis among companies. Such a ratio can also be used as an indication of the future financial health of a company.

  • Linlin Wu, Treasury Manager, Honeywell (China) Co., Ltd

    Problem Solved: 
    Linlin Wu, Honeywell (China) Co., Ltd

    Due to growth in China, Honeywell China decided to look for a US dollar cash pooling arrangement to concentrate the company’s cash balances in the country and reduce external funding costs. After a request for proposal (RFP) process, the company awarded the mandate to Citi for its overall performance based on the scoring matrix designed by Honeywell China.

  • Introduction to International Financial Reporting Standard 5

    All EU companies, listed on a regulated market, will have to prepare consolidated accounts in accordance with International Accounting Standards (IAS) and their successors, International Financial Reporting Standards (IFRS), for accounting periods starting on or after 1st January 2005 at the latest. Companies should be preparing for transition now. Most companies will use comparative figures from 2004 when preparing 2005 accounts. Companies need to understand the impact of the new standards on their businesses and ensure that systems are put in place to capture the required data.

    IFRS are the successors to IAS. Any new standard released by the International Accounting Standards Boards (IASB) will be released as an IFRS. Any revisions to existing IAS will still be referred to as IAS. Both acronyms (IAS and IFRS) will run in parallel until all IAS are superseded by IFRS.

  • Introduction to Financial Reporting Standards 3 & 4

    All EU companies, listed on a regulated market, will have to prepare consolidated accounts in accordance with International Accounting Standards (IAS) and their successors, International Financial Reporting Standards (IFRS), for accounting periods starting on or after 1st January 2005 at the latest. Companies should be preparing for transition now. Most companies will use comparative figures from 2004 when preparing 2005 accounts. Companies need to understand the impact of the new standards on their businesses and ensure that systems are put in place to capture the required data.

  • Introduction to International Accounting Standards 40 & 41

    All EU companies, listed on a regulated market, will have to prepare consolidated accounts in accordance with International Accounting Standards (IAS) and their successors, International Financial Reporting Standards (IFRS), for accounting periods starting on or after 1st January 2005 at the latest. Companies need to start to prepare for the transition now. Most companies will use comparative figures from 2004 when preparing 2005 accounts. Companies need to understand the impact of the new standards on their businesses and ensure that systems are put in place to capture the required data.

  • Introduction to International Accounting Standards 38 & 39

    All EU companies, listed on a regulated market, will have to prepare consolidated accounts in accordance with International Accounting Standards (IAS) and their successors, International Financial Reporting Standards (IFRS), for accounting periods starting on or after 1st January 2005 at the latest. Companies need to start to prepare for the transition now. Most companies will use comparative figures from 2004 when preparing 2005 accounts. Companies need to understand the impact of the new standards on their businesses and ensure that systems are put in place to capture the required data.

  • Introduction to International Accounting Standards 36 & 37

    All EU companies, listed on a regulated market, will have to prepare consolidated accounts in accordance with International Accounting Standards (IAS) for accounting periods starting on or after 1st January 2005 at the latest. Companies need to start to prepare for the transition now. Most companies will use comparative figures from 2004 when preparing 2005 accounts. Companies need to understand the impact of the new standards on their businesses and ensure that systems are put in place to capture the required data.