Taiwan

The following sections are included:IntroductionBackgroundPoliticsCurrencyEconomic and Business Developments in the Modern EraEconomic Development PlansIndustrial SitesPrivatisation of Public Sector BusinessesDevelopment of the Private SectorTradeForeign InvestmentBusiness EnterprisesTypes of Business EnterprisesDevelopment of the Securities MarketsProfile of a Closely Held CompanyAccounting DevelopmentsPre-1949: Mainland Period1949–End of 1970s: Development and Regulation of the Private Sector1980s and 1990s: Rapid Growth and GlobalisationAccounting ProfessionNational Federation of Certified Public Accountants Association (NFCPAA)Qualifications of CPAsCPA FirmsStatutory Regulations Governing Financial StatementsBusiness Accounting LawCompany LawIncome Tax LawSecurities and Exchange LawStatutory Regulations Governing Financial Reporting PracticesFinancial Reporting for Public CompaniesFinancial Reporting for Non-Public CompaniesFinancial Reporting for Other Business EntitiesFinancial Reports for Income Tax ReturnsDomestic Standards and Conformity with International Accounting StandardsStandard Setting BodyFinancial Accounting Standards in TaiwanConformity of Taiwan Accounting Standards and Practices with IASsSpecific Accounting Issues in TaiwanMandated Disclosure of Financial ForecastsEnvironmental Expenditures DisclosureSpecial Capital ReservesLegal Surplus ReserveRevaluation of Fixed AssetsList of Fixed AssetsSummary and ConclusionReferences