Financial reporting service
financial reporting services
Financial Reporting Services
Accurate and reliable
Better decision making
Provide accurate and reliable information for you to make informed decisions about your business, monitor its performance, and identify areas where you need to change to improve your financial health. main.
Meet compliance requirements
By using Expertis' financial reporting service, you can ensure that your reports meet all necessary requirements and are submitted on time.
Increase company reputation
Helps increase the credibility of the business in the eyes of investors, lenders and other stakeholders. This can help businesses secure capital, negotiate better terms, and build trust with their stakeholders.
Financial Reporting Services
Contents of the service
- Reviewing and consulting
- Review and summarize all accounting data for the year
- Consulting to detect unreasonable financial data causing risks to businesses
- Advice on tax issues
- Financial statements
- Prepare financial statements including (Profit and Loss Statement, Balance Sheet, Cash Flow Statement, Notes)
- Support to send annual financial statements to authorities such as tax, statistics, audit
to make a financial report
Option
Bonus services
We provide IFRS consolidated financial reporting services.
We support the implementation of Group - Corporate reporting for clients who are members of multinational corporations.
price list for financial reporting services
Dedicated support
Our experts provide financial and tax advice through convenient means for you: email, chatbox, phone, online meeting, face-to-face.
financial reporting services
FAQ
Top Q&A
Financial statements should be submitted to the following agencies:
- Tax management department
- Department of Planning and Investment licensed
- Statistics agency
- Banks and organizations have credit relations
The deadline for submission of financial statements of enterprises (except state-owned enterprises) is stipulated as follows:
- Private enterprises and partnerships: the deadline for submission of annual financial statements is day 30 calculated from the end of the fiscal year.
- Other businesses: the deadline for submission of annual financial statements is day 90 from the end of the fiscal year.
Regulations on the form and content of financial statements are prepared in accordance with Vietnamese accounting standards and the accounting regime applied by:
- Circulars 200 / 2014 / TT-BTC
- Circular 133 / 2016 / TT-BTC
Violations on time to submit financial statements are penalized according to Article 12 of Decree 41/2018/ND-CP, specifically as follows:
Article 12 .- Penalties for violations of the regulations on submission and publicity of financial statements
1. A fine of VND 5.000.000 to VND 10.000.000 for one of the following acts:
a) Submitting financial statements to competent state agencies less than 03 months compared to the prescribed time limit;
b) Disclosure of financial statements is slower than the monthly import deadline.
2. A fine of VND 10.000.000 to VND 20.000.000 for one of the following acts:
a) Publicizing incomplete financial statements as prescribed;
b) Submitting financial statements to competent state agencies without attaching audit reports to cases where the law requires auditing financial statements;
c) Submitting financial statements to competent state agencies at a later than the monthly import and export deadline compared with the prescribed time limit;
d) Publicizing financial statements without accompanying audit reports in cases where the law requires auditing financial statements;
dd) Disclosure of financial statements is delayed for a month or more compared to the prescribed deadline.
3. A fine of VND 20.000.000 to VND 30.000.000 for one of the following acts:
a) Publicing untruthful financial statements and figures;
b) Providing and publishing financial statements for use in Vietnam with heterogeneous data in an accounting period.
4. A fine of VND 40.000.000 to VND 50.000.000 for one of the following acts:
a) Failing to submit financial statements to competent state agencies;
b) Failure to publish financial statements as prescribed.
5. Remedies:
Forcible submission and publicity of audit reports attached to financial statements, for acts of violations specified at Points b and d, Clause 2 of this Article.
Note:
Regulations "A file for tax finalization at the end of the year includes the annual tax finalization declaration, the annual financial statement, and the declaration of related-party transactions; other documents related to tax finalization.”
Therefore, the late submission or failure to submit the financial statements also leads to the act of “late submission/failure to submit the tax finalization return” and is penalized according to the tax law.
The financial statements of an enterprise are used to summarize and explain the financial position and results of operations of the enterprise. Financial statements of an accounting unit include: Balance sheet; Statement of business results (profit-loss); Statements of cash flows; Notes to the financial statements.
The director of the enterprise is responsible for the content, form, and commits that the data is correct, truthful and reasonable, which is the basis for working when examining, inspecting and auditing the state.
The term tax finalization is often understood as the process by which the tax administration agency conducts the order and procedures to check the accuracy of the enterprise's tax finalization declaration.
Enterprises have the right to declare and pay their own taxes, but must be responsible for their self-declaration and payment of taxes. In case of errors, enterprises will be fined depending on the severity of the behavior classification such as:
- Delayed declaration, incorrect declaration but not missing the payable tax amount.
- Understatement of tax amount causes a lack of tax payable.
- Understatement of tax amount due to intentional error but not to the extent of tax evasion.
- False declaration of tax evasion.
Each act has a different level of punishment in order from less serious to serious.
Due to the self-declaration and self-filing nature of tax administration, if an enterprise detects an error before the tax authority announces the decision to examine the tax finalization, it is still entitled to make adjustments and not consider the erroneous act as a violation. violate.
Therefore, it is extremely important to carry out a review and prepare accurate financial statements, especially before the tax authority announces the inspection decision, which is extremely important in reducing penalty costs and ensuring compliance with its responsibilities. responsibility of the enterprise and the individual head of the enterprise.
Violations on the preparation and presentation of financial statements are penalized according to Article 11 of Decree 41/2018/ND-CP, specifically as follows:
Article 11. Penalties for violations of the regulations on preparing and presenting financial statements
1. A fine of VND 5.000.000 to VND 10.000.000 for one of the following acts:
a) Prepare a financial statement with insufficient contents or in contravention of the prescribed form;
b) Financial statements without the signature of the maker, chief accountant, accountant, or legal representative of the accounting unit.
2. A fine of VND 10.000.000 to VND 20.000.000 for one of the following acts:
a) Incomplete preparation of financial statements as prescribed;
b) Apply a financial statement form different from the provisions of accounting standards and regimes, unless approved by the Ministry of Finance.
3. A fine of between VND 20.000.000 and 30.000.000 shall be imposed for one of the following acts:
a) Failure to prepare financial statements as prescribed;
b) Making financial statements inconsistently with figures on accounting books and accounting vouchers;
c) Preparing and presenting financial statements that do not comply with accounting regimes and accounting standards.
4. A fine of VND 40.000.000 to VND 50.000.000 for one of the following acts:
a) Forging financial statements, falsifying data on financial statements but not to the extent of being examined for penal liability;
b) Agreeing on or forcing others to forge the financial statements, to falsify data on the financial statements but not to the extent of being examined for penal liability;
c) Deliberately, agreeing or forcing others to provide or confirm untrue accounting information and data but not to the extent of being examined for penal liability.
5. Remedies:
a) Forcible preparation and presentation of financial statements in accordance with the accounting regimes and accounting standards, for the violation specified in Clause 3 of this Article;
b) Forcible destruction of forged or false financial statements, for violations specified in Clause 4 of this Article.