The accounting subject of fund accounting is securities investment fund, and the responsibility subject is fund management company and fund custodian. Among them, the fund management company bears the main accounting responsibility.
Based on the principle of timeliness, the division of fund accounting period is more detailed, that is, weekly or even daily accounting disclosure period. At present, the fund accounting in China has been refined to this day.
The main business of the fund is investment management. The nature of investment management activities determines that the financial assets or financial liabilities it obtains are transactional. At the same time, for open-end funds, their financial assets must be realized at any time to cope with the redemption of fund shares by fund holders. Therefore, unless otherwise agreed in the fund contract, the financial assets and liabilities held by the fund are usually classified as those measured at fair value and whose changes are included in the current profits and losses.