Financial statements of an accounting unit are used for aggregating and describing its financial conditions

Article 29. Financial statements of accounting units

dich-vu-thanh-lap-cong-ty-nuoc-ngoai1. Financial statements of an accounting unit are used for aggregating and describing its financial conditions and performance. Financial statements of an accounting unit include:

a) Financial condition statement;

b) Business performance statement;

c) Cash flow statement;

d) Note to financial statements;

dd) Other statements defined by law.

2. Financial statements of an accounting unit are made as follows:

a) Each accounting unit shall make the financial statement at the end of the annual accounting period, unless otherwise prescribed by law;

c) Financial statements shall be based on figures after accounting books are closed. The superior accounting unit shall make a general financial statement or consolidated financial statement based on financial statements of inferior accounting units;

c) Financial statements must be made correctly in terms of contents, method, and consistency accounting periods; any difference in presentation of financial statements of different accounting periods must be explained;

d) Financial statements shall bear the signatures of the makers, the chief accountant, and the legal representative of the accounting unit. The persons who sign a financial statement are responsible for its content.

3. The annual financial statement of an accounting unit shall be submitted to the competent authority within 90 days from the end of the annual accounting period as prescribed by law.

4. The Ministry of Finance shall promulgate specific regulations on financial statements in each field; responsibility, maker, period, method, deadline, places for submission of financial statements, and publishing of financial statements.

Article 30. Financial statements of the State

1. Financial statements of the State are made according to consolidation of financial statements of regulatory agencies, public service agencies, business organizations, and relevant units of the State, used for consolidating and describing financial conditions of the State, result of financial activities of the State, and cash flow thereof nationwide and of each administrative division.

2. Financial statements of the State provide information about revenues and expenditures of state budget, public funds, public debts, state capital in enterprises, assets, sources of capital, and use of state capital. Financial statements of the State include:

a) Financial condition statement;

b) Statement of financial activity result;

c) Cash flow statement;

d) Note to financial statements of the State.

3. Financial statements of the State are made as follows:

Dịch vụ kế toán

Dịch vụ kế toán

a) The Ministry of Finance shall make nationwide financial statements, submit them to the Government for reporting to the National Assembly; direct State Treasuries to take charge and cooperate with finance authorities in making financial statements of local governments and submitting them to the People’s Committees of provinces for reporting to the People’s Councils of provinces;

b) Other regulatory agencies, public service agencies, business organizations, and relevant units shall make their own financial statements and provide financial information serving the making of nationwide and local financial statements.

4. Financial statements of the State shall be made and submitted to the National Assembly or the People’s Council at the same time as the state budget statement according to the Law on State budget.

5. The Government shall promulgate specific regulations on financial statements of the State; the making and publishing of financial statements of the State; responsibility of agencies, units, and local governments for provision of information serving the making of financial statements of the State.