The most popular accounting software in China are Yonyou and Kingdee, which dominate the local market, especially for compliance with Chinese accounting standards and tax regulations (Fapiao system). Yonyou is preferred by medium-to-large enterprises, while Kingdee is widely used by small-to-medium businesses. Other solutions for foreign-invested enterprises include Megi, Odoo, and Sage.
The CAS are the rules of accounting that are applied in mainland China. These rules are unique because they started in the Chinese socialist era when the country was the primary owner of most if not all industries.
CICPA was established in 1988 in accordance with the Law of the People's Republic of China on Certified Public Accountants (CPAs). CICPA is the national professional accountancy organization with headquarters in Beijing that oversees all local CPA institutes throughout the country.
The ASBE standards are significantly converged with the International Financial Reporting Standards (IFRS) and all listed companies in China must comply with the ASBEs for the preparation of their financial statements. Most foreign-invested entities also generally follow the ASBEs.
The most notable difference between Chinese GAAP and IFRS is that in line with the Chinese Accounting Standards companies can only use the historical cost method to valuate fixed- and intangible assets, whereas IFRS allows the use of both the historical cost method and the possibility of re-evaluating the asset(s).
UK accounting giant PwC faces six-month China ban
The Big Four accountancy firm is also being fined more than $62m (£47m) after Chinese authorities said it had helped cover up fraud at Evergrande. The real estate firm collapsed in January under a mountain of debt.
The 6-year rule is a regulatory framework designed to determine the tax liability of foreign nationals living in China as the host country. It primarily focuses on the length of stay within a given period, typically six years, to ascertain an individual's tax liability in China.
CPA is a course that is highly recognized in the USA, while ACCA is a globally regarded chartered accountancy course allowing you to practice CA in over 180 countries across the globe. These courses enhance the scope of career for students in accountancy abroad and allow them flexibility and diverse opportunities.
Size. If the size is an issue for you then it's worth noting that MBB is around a tenth of the size of the Big 4. As of 2022, McKinsey employs over 37,000 people working across 130+ offices in 65+ countries. BCG has over 90 offices in more than 50 countries around the world and also employs about 25,000 people.
Residents are subject to individual income tax on their worldwide income. Non-residents are generally taxed only on their China-sourced income. For the rates applied on non-residents' income derived from employment, remuneration for labour services, author's remuneration, and royalties, see the table above.
The Chinese Generally Accepted Accounting Principles (China-GAAP) are similar to the International Financial Reporting Standards (IFRS), but differ from the American accounting system (US-GAAP). Most foreign companies are unaware of these differences, and are, therefore, running the risk of non-compliance.
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Top 8 Best Accounting Software for CPAs (2026 Edition)
All Big 4 accountancy firms – Deloitte, PwC, EY, and KPMG – are active recruiters of ACCA-affiliated accountants. Choice often depends on your interest area: audit, consulting, tax, or advisory.
CA professionals typically earn ₹6-8 lakhs annually at entry level, slightly ahead of ACCA holders at ₹5-7 lakhs. This reflects intensive articleship training and immediate applicability in India's regulatory environment.
ACCA Qualification recognition
The national qualification, the US CPA, is required to practice public accounting in the US.
Yes, roughly 90% or more of households in China own their homes, making it one of the highest homeownership rates globally, driven by cultural emphasis on property as stability, significant housing reforms since the late 1990s, and high household savings, though this also leads to high prices and affordability issues for younger generations. While most own property, they hold long-term land-use rights (often 70 years), as the land itself remains state-owned.
If you are based in China you can qualify as an ICAEW Chartered Accountant as a university graduate. Many students start their journey by studying the ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB), before going on to complete the ACA qualification.