National Cultural Affairs Foundations Accounting Standards and Financial Reporting Standards Article 18

The elements of accounting are classified into five categories: assets, liabilities, equity, revenues, and expenses.A cultural foundation shall, based on its operational practices, compile required accounting subjects from aforementioned accounting categories in accordance with the “Reference Table of Common Accounting Subjects for Cultural Foundations” (as attached in Appendix 1).[Appendix 1] Reference Table of Common Accounting Subjects (Items) for Cultural Foundations.pdf