Business accounting comprises of three basic activities: identifying, recording and communicating the economic events of a company. Accountants identify economic events such as transactions and investments. Accountants use bookkeeping techniques to systematically record economic events. Finally, accountants use financial statements to present their records to people who use accounting information. Sometimes, accounting might also mean analyzing and interpreting financial statements and deliberating the meaning of reported data.Two broad groups of people use business financial statements, internal users and external uses. Internal users need accounting data to help them run the company.

Internal users include marketers, supervisors and financial officers. Managerial accountants manage and report information to internal users. External users usually need accounting information for investment or legal reasons. External users include investors, creditors and government agencies. Financial accountants manage and report information to external users. Business accounting financial records describe what a business is owed and what it owns. What a business owns is called "assets." What a business owes is split into two categories, liabilities (credit debts) and stockholders' equity (investor debts). "Assets=Liabilities Stockholders' Equity" is the accounting basic equation that all accountants use to record and report. This equation is the same for a large corporation as it is for the restaurant around the corner. Accounting red flags should go up if assets fail to equal liabilities and equity.

The agencies that regulate U.S. accounting and financial markets, the Securities and Exchange Commission, and the Financial Accounting Standards Board, created a set of universal accounting standards known as Generally Accepted Accounting Principles. GAAP ensure that all accountants identify, record and report the same way. GAAP dictates that accounts use the cost principle, meaning that accounting items are always recorded at their initial cost. GAAP also imposes assumptions, such as the monetary unit assumption that describes transactions as data expressed in monetary terms, and the economic entity assumption that legally describes business types. Ethics is fundamental to accounting because so many people depend on honest and error-free financial statements.

One part of accounting focuses on presenting the company's financial information in the required ways to those outside of the company. In order to present this information in a format everyone can understand, accountants follow a set of guidelines. In the United States, most accountants abide by the Generally Accepted Accounting Principles. There are different sets of accounting standards for companies that operate overseas, as well as for local and state government entities.

1. All applicants should be university graduates with bachelor degree

2. HSK Level 5 (scores 195 or above)

3. Non Chinese Citizens
   

4. Must be of Good Health.

1. Certificate of HSK

Certificate of HSK (Chinese Proficiency Test)

2. Photocopy of valid passport

With name, passport number & expiration date, and photo included

3. Passport photo

A recent passport-sized photo of the applicant

4. Undergraduate school transcript

5. Bachelor's degree diploma

Graduation certificate in languages other than Chinese or English should be translated into Chinese or English and be certified by notarization.

6. Letter of recommendation

From professor or associate professor or equivalents

Question: What is the cost of applying through ACASC?

Answer: ACASC charges a service fee of 50$ for using its online application portal. Applying through ACASC into Chinese universities attracts a service fee of $50.

· Question: Can I apply to the university directly?

Answer: Yes. ACASC gives the applicants, the chance to directly apply to their desired universities through our online application portal. We have synchronized our system to create a simple platform that connects universities and colleges in China to international students all around the world.

· Question: How can I track my application status?

Answer: To track the application status, please log in your ACASC personal account. Whenever there’s an update, you will be informed on your application status through ACASC system within a day as soon as we receive university’s notification. You will simultaneously receive ACASC auto-email about the application status. To directly inquire about your application status, feel free to send us an email toadmission@acasc.cn and our team will keep you updated.

· Question: How to deal with a pending application?

Answer: When an application is pending a decision it means that your school has received it and no admissions decision has been made yet. The admissions office may have reviewed your application package or may not have.

The main cause of a pending application is usually incomplete application documents. As a result you will be requested by the school’s admission office to re-check and modify all submitted application documents or perhaps even add extra documents and then re-submit them.

To avoid further delays, carefully read the university’s comments, modify your application form on ACASC, and re-upload the required application documents. You can contact ACASC on admission@acasc.cn for any help with regards to your pending application

· How long does it take to process my application?

Processing time varies for different applications. For example to process a degree program application requires more time than a Chinese language application. Confirmation for Chinese language application by the admission office usually takes 2 to 4 weeks. However, time for degree programs application differs. For example fall semester application processing is after March, and it takes a period of 1 to 2 months. This also depends on your qualification and the number of applicants.