Grant Thornton attends CSRC accounting department seminar

On April 16, the Accounting Department of China Securities Regulatory Commission (CSRC) convened professionals from six accounting firms, including Grant Thornton, to discuss various accounting issues such as whether presentations and relevant revenues of financial products constitute non-recurring profit and loss or not, and derecognition of commercial acceptance bills with consideration or discount and factoring accounts receivable under business combinations with the same control. Qiu Lianqiang and Liu Fengshou, partner and senior manager from professional standard department of Grant Thornton participated in the seminar and gave Grant Thornton’s opinions on the above accounting issues.