Common use of Financial Accounting System Clause in Contracts

Financial Accounting System. (a) The Company shall establish an independent financial and account system and shall prepare financial statements in accordance with the applicable Enterprise Accounting System of the PRC, other relevant Law, the particular circumstances of the Company and the operating and financial procedures and requirements of the Parties. (b) The Company’s financial management rules shall be formulated and adopted by the Board based on the recommendations of the General Manager.

Financial Accounting System. (a) The Company shall establish an independent financial and account accounting system and shall prepare financial statements in accordance with the applicable Enterprise Accounting System of the PRC, other relevant Law, the particular circumstances of the Company and the operating and financial procedures and requirements of the Parties. (b) The Company’s financial management rules shall be formulated and adopted by the Board based on the recommendations of the General Manager.

Financial Accounting System. (a) The Company shall establish an independent financial and account accounting system and shall prepare financial statements in accordance with the applicable Enterprise Accounting System Regulations (enacted by the Ministry of the PRCFinance on December 29, 2000), other relevant Law, the particular circumstances of the Company Company, and, to the extent permitted by applicable PRC Laws, those methods and principles that are consistent with the generally accepted accounting principles in the United States of America and the operating and financial procedures and requirements of the Parties. (b) The Company’s financial management rules shall be formulated and adopted by the Board based on the recommendations of the General Manager.