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Executive Summary The Hotye Electric Service Company is planning to begin operations in several months and must secure RMB50 million in order to do so. It plans to acquire these start-up funds through a mix of debt and equity offerings. The purpose of this report is to advise Hotye on its accounting policies, from the perspective of an advisor that is familiar with North American GAAP. Once completed, Hotye will submit these policies to the appropriate authorities and prepare forward looking income statements used to attract potential investors and creditors. The key users of these financial statements include potential investors and creditors, the management of Hotye and Regical, the Guangzhou Municipal Government, the Chinese tax authority, and the future customers of Hotye. The policies implemented will demonstrate the future growth potential of Hotye, its ability to generate cash flows, and tax minimization in order to maximize these after-tax cash flows. Issues...

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