Accounting books shall be opened at the beginning of the annual accounting period
Article 26. Opening, recording, closing, and retention of accounting books
1. Accounting books shall be opened at the beginning of the annual accounting period; new accounting units shall open their accounting books from the inauguration date.
2. Accounting records are the basis for making accounting books.
3. Accounting books must be made clearly, completely, and in a timely manner. Information and data recorded in the accounting books must be accurate, truthful, and consistent with accounting records.
4. Economic/financial transactions must be recorded in the accounting books in chronological order. Information and data recorded in accounting books of the next year must continue those on the accounting books of the preceding year. An accounting book must be continuously made from the beginning to the closing of the book.
5. Information and data on the accounting books must be recorded by pen, must not be inserted at the top or bottom and must not overlap; no lines shall be skipped; any empty space of the page must be crossed out; if one page is not enough, a sum must be done at the end of each page and carried forward to the next page.
6. The accounting unit must close its accounting books at the end of the accounting period before making the financial statement and in other cases specified by law.
7. Accounting units may make electronic accounting books. Electronic accounting books must comply with regulations on accounting books in Article 24, Article 25, Clause 1, 2, 3, 4, and 6 of this Article, except for regulations on the overlapping seal. After electronic accounting books are closed, they must be printed out and bound into books for each annual accounting period in order to be retained. If electronic accounting books are stored in electronic devices instead of being printed, it is required to ensure safety and security of information and accessibility during the retention period.
Article 27. Correcting accounting books
1. If an error is found in an accounting book, they must not be erased and must be rectified in one of the following manners:
a) Cross out the error, write the correct text or number above, and request the chief accountant to sign next to it;
b) Rewrite the incorrect number in red ink or in round brackets, then write the correct number and request the chief accountant to sign next to it;
c) Issue “chứng từ điều chỉnh” (“corrective note”) and write the difference.
2. If an error is found in an accounting book before the annual financial statement is submitted to a competent authority, rectification must be made in the accounting books of the same year.
3. If an error is found in an accounting book after the annual financial statement is submitted to a competent authority, rectification must be made in the accounting books of the year in which the error is found and explanation must be provided.
4. Rectification of electronic accounting books shall apply the method specified in Point c Clause 1 of this Article.
Article 28. Evaluation and recording according to reasonable value
1. Assets and liabilities to be evaluated and recorded according to their reasonable values at the end of the financial statement period include:
a) Financial instruments required by accounting standards to be recorded and re-evaluated according to their reasonable values
b) Accounts derived from foreign currencies at actual exchange rates;
c) Other assets and liabilities whose values regularly fluctuate and required by accounting standards to be re-evaluated according to their reasonable values.
2. Re-evaluation of assets and liabilities according to their reasonable values must be well founded. If the values cannot be reliably determined, assets and liabilities shall be recorded at their original prices.
3. The Ministry of Finance shall regulates assets and liabilities to be recorded and re-evaluated according to reasonable values, accounting method for recording and re-evaluating according to reasonable values.
Tin liên quan
The duration of authorization of each representative, including the beginning date;
Responsibilities of the enterprise’s legal representative
Reporting changes to information about the enterprise’s manager
Criteria, rights and obligations of social enterprises
Do accounting, make and submit truthful financial statements in a timely manner according to regulations of law on accounting and statistics.
State assurance about enterprises and owners of enterprises
Subsidiaries are related person of the parent company in the same group
Application of the Law on Enterprises and specialized laws
Acceptance of leased goods
Pass of risks incurred to leased goods