National Cultural Affairs Foundations Accounting Standards and Financial Reporting Standards Article 5

The fiscal year of cultural foundations shall be based on the calendar year which begins on January 1 and ends on December 31 each year. The basis of accounting shall be based on an accrual system. The accounting unit shall be NTD and the unit used for financial statements shall be NTD.Where accounts are listed in foreign currencies due to the nature of the business, the cultural foundation shall convert foreign currencies into NTD for calculation.