Financial accounting, administrative accounting, general accounting, detailed accounting
Article 9. Financial accounting, administrative accounting, general accounting, detailed accounting
1. Accounting works of an accounting unit include financial accounting and administrative accounting.
2. When doing financial accounting and administrative accounting, the accounting unit must also do general accounting and detailed accounting as follows:
a) General accounting involves collection, processing, recording, and provision of general information about economic and financial activities of the accounting unit. General accounting uses currencies to reflect assets, sources of assets, status and outcomes of economic and financial activities of the accounting unit. General accounting is done based on information and data of detailed accounting;
b) Detailed accounting involves collection, processing, recording, and provision of detailed information in the form of currencies, objects, and working hours of each particular accounting subject of the accounting unit. Detailed accounting is meant to illustrate general accounting. Detailed accounting data must be consistent with general accounting data in an accounting period.
3. The Ministry of Finance shall provide guidance on application of administrative accounting to each field.
Article 10. Units for accounting
1. The accounting currency is Vietnam dong; its Vietnamese symbol is “đ” and international symbol is “VND”. Where an economic/financial transaction in a foreign currency occurs, the accounting unit must record the foreign currency and VND at the actual exchange rate, unless otherwise prescribed by law; if there is not exchange rate between the foreign currency and VND, it shall be exchanged into another foreign currency that has an exchange rate with VND.
An accounting unit whose most revenues and expenditures are in a foreign currency may use such foreign currency as the accounting currency and has to take legal responsibility for such action and notify its supervisory tax authority. When making a financial statement which is used in Vietnam, the accounting unit must convert the foreign currency into VND at the actual exchange rate, unless otherwise prescribed by law.
2. Items and working hours used as units for accounting are legal units of measurement of Socialist Republic of Vietnam; Where an accounting unit uses another unit of measurement, it must be converted into a legal unit of Socialist Republic of Vietnam.
3. Accounting units are allowed to round numbers, use abbreviated units when making or publishing their financial statements.
4. The government shall elaborate and provide guidance on implementation of this Article.
Article 11. Text and numbers for accounting
1. The language of accounting shall be Vietnamese. Where a foreign language must be used on an accounting record, accounting book, or financial statement which is used in Vietnam, it is required to use both Vietnamese and that foreign language.
2. Numbers used for accounting are Arabic numerals; the thousands separator is a dot (.); and the decimal mark is a comma (,).
3. With regard to foreign enterprises, branches of foreign enterprises or foreign organizations who have to sent their financial statements to the parent companies or overseas organization, or share the same transaction management software programs with the parent companies or overseas organization may use a comma (,) as the thousands separator and a dot as a decimal mark. In this case, it is required to be noted in the accounting documents, accounting books, and financial statements; the financial statements submitted to tax authorities, statistics authorities, and other competent authorities shall comply with Clause 2 of this Article.
Article 12. Accounting periods
1. Accounting periods include annual accounting periods, quarterly accounting periods, and monthly accounting periods. To be specific:
a) An annual accounting period is 12 months from January 01 to the end of December 31. Any accounting unit, because of its difference in organizational structure or operation, that is allowed to begin the annual accounting period on the 1st of the first month of a quarter and end it on the last day of the last month of the next four quarter must notify the finance authority and tax authority.
b) A quarterly accounting period lasts for 03 months from the 1st of the first month of the quarter to the last day of the last month of the quarter;
c) A monthly accounting period lasts for 01 month from the 1st to the last day of the month.
2. Accounting periods of a new accounting unit:
a) The first accounting period of a new enterprise begins on the issuance date of the Certificate of Enterprise Registration and ends on the last day of the annual, quarterly, or monthly accounting period specified in Clause 1 of this Article;
b) The first accounting period of another accounting unit other than a new enterprise begins on the issuance date of the decision on establishment of the accounting unit and ends on the last day of the annual, quarterly, or monthly accounting period specified in Clause 1 of this Article.
3. Where an accounting unit is divided, consolidated, merged, converted, transferred, dissolved, shut down, or bankrupt, the last accounting period begins on the first day of the annual, quarterly, or monthly accounting period specified in Clause 1 of this Article and ends on the day preceding the effective date of the decision on division, consolidation, merger, conversion, transfer, dissolution, shutdown, or bankruptcy of the accounting unit.
4. If the first or last annual accounting period is shorter than 90 days, it may be aggregated with the next or previous annual accounting period, respectively; the first or last annual accounting period must be shorter than 15 months.
Tin liên quan
The power to appoint border checkpoints for export and import
The export tariff-rate quota and import tariff-rate quota
The export restriction and import restriction
The list of prohibited exports and imports is made by the Government.
Prohibited actions in the foreign trade management
The Ministry of Finance shall take charge and cooperate with relevant authorities
Responsibility for the state administration related to the foreign trade.
Principles of state administration related to the foreign trade
Reporting Interests in Joint Ventures in the Financial Statements of an Investor
Separate Financial Statements of a Venturer