The Group (Bureau) convened the 2021 Financial Closing and 2022 Comprehensive Budget Deployment Meeting.
Release date:
2021-12-23 15:08
Source:
On December 20, the Group (Bureau) convened a meeting on the 2021 annual financial closing and the 2022 comprehensive budget planning, to implement the spirit of the SASAC and the China National Coal Administration’s meetings on budget preparation and final accounts, and to deploy the work related to the 2021 financial closing and the 2022 comprehensive budget. Chen Haiyong, a member of the Group (Bureau) Party Committee and Chief Accountant, attended the meeting and delivered a speech.
The meeting conveyed the spirit of Yu Xueping’s address at the China National Coal Administration’s financial budgeting and final‑account conference, and re‑arranged and re‑deployed this year’s budgeting and final‑account work by emphasizing the importance of financial final accounts, thorough preparation prior to their completion, accurate and comprehensive reporting, strategic planning for comprehensive budgeting, prioritizing key areas in final‑account audits, and ensuring rigorous review and approval of final‑account documents.
The meeting emphasized that all units must strike a balanced approach among annual objectives and development plans, between the scale and quality of development, and between year‑end financial closing and comprehensive budgeting. They are to fully implement the arrangements for high‑quality development, adhere to the Group (Bureau)’s requirements for both preliminary and final budgets, complete the year‑end financial closing in a timely manner, and carefully plan next year’s comprehensive budgeting. The meeting placed particular emphasis on the following areas: First, promptly finalize project settlement and rights confirmation, accurately recognize revenues and costs in accordance with accounting standards, and ensure the quality of accounting information. Second, in compliance with the China National Coal Administration’s unified accounting system, adequately set aside provisions for doubtful accounts and conduct impairment tests on receivables, exploration rights, construction‑in‑progress, and other assets. Third, thoroughly reconcile and promptly clear intercompany balances, standardize the posting of intercompany accounts, and promptly transfer any unrecoverable prior‑period expenses to cost; the practice of carrying such expenses on the books is strictly prohibited. Fourth, smoothly transition to the new revenue recognition standards, properly applying the period‑based and point‑in‑time methods for recognizing revenue and allocating related costs as stipulated in contracts. Fifth, all employee‑related compensation expenditures must be accounted for under the “Salaries Payable” account; the salary items reported in the financial statements must be cross‑checked with the human resources department to ensure data consistency, and any disguised wage payments or attempts to evade wage‑related oversight are strictly forbidden. Sixth, all taxes must be accrued and paid in full in accordance with applicable laws and regulations.
Chen Haiyong emphasized that all units should take the final‑accounting process as an opportunity to intensify efforts to rectify various issues, and outlined three key requirements: First, elevate awareness of final accounting and comprehensive budgeting, firmly strengthen political consciousness, and recognize the importance of high‑quality accounting information from the perspective of bolstering the “Four Consciousnesses” and upholding the “Two Safeguards,” making the accuracy and reliability of accounting data and operating results the top priority. Second, adhere to the principle of refraining from falsifying accounts, cultivate a sense of respect for established boundaries, strictly enforce financial discipline, safeguard financial order, and, with a commitment to continuous improvement, a rigorous and pragmatic work style, and a spirit of innovation and progress, ensure the thorough and sound execution of financial planning and final‑accounting tasks. Third, all finance personnel should be prepared to work overtime and endure hardship, overcome challenges, and successfully complete the annual financial final accounting and comprehensive budgeting processes.
More than 100 participants attended the meeting, including all finance personnel at the Group (Bureau) headquarters, as well as chief and deputy accountants and financial officers from each unit.
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