Decision 1676/QD-BTC dated September 01, 9 announcing 2021 Vietnamese public accounting standards, phase 5

DECISION

ANNOUNCEMENT 5 PUBLIC ACCOUNTING STANDARDS IN VIETNAM 1

MINISTER OF FINANCE

Pursuant to the Accounting Law No. 88 / 2015 / QH13 dated 20 tháng 11 năm 2015;

Pursuant to Decree No. 174/2016/ND-CP dated December 30, 12 of the Government detailing and guiding the implementation of a number of articles of the Law on Accounting;

Pursuant to the Decree No. 87 / 2017 / ND-CP dated 26 / 7 / 2017 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Implement Decision No. 1299/QD-BTC dated July 31, 7 of the Minister of Finance on approving the Project on announcing the Vietnamese public accounting standard system;

At the request of the Director of the Department of Accounting and Auditing Management and Supervision; based on actual requirements to apply Vietnamese public accounting standards.

DECISION:

Article 1. Approving 5 Vietnamese public accounting standards, phase 1, stated in the attached appendices, including:

1. Vietnamese Public Accounting Standard No. 01 “Presentation of Financial Statements” (Appendix No. 01);

2. Vietnamese Public Accounting Standard No. 02 “Cash Flow Statement” (Appendix No. 02);

3. Vietnamese Public Accounting Standard No. 12 “Inventories” (Appendix 03);

4. Vietnamese Public Accounting Standard No. 17 “Real Estate, Plant and Equipment” (Appendix No. 04);

5. Vietnamese Public Accounting Standard No. 31 “Intangible Assets” (Appendix 05).

Article 2. Implementation organization:

1. Assign the Director of the Department to manage and supervise accounting and auditing:

a. Based on the published public accounting standards, research and submit to competent authorities to supplement and amend the accounting regimes applicable to public sector accounting units and relevant legal documents. relevant regulations, in accordance with current regulations on public financial mechanism and state budget, submit to the Minister of Finance a Circular guiding the accounting regime applicable to units in each field operating according to the roadmap. suitable program.

b. Coordinate with related units, continue to study public accounting standards according to the plan stated in Decision No. 1299/QD-BTC dated July 31, 7 of the Minister of Finance on approving the Scheme publicize the system of Vietnamese public accounting standards and submit it to the Minister of Finance for publication of subsequent standards.

2. Assign heads of relevant units under and under the Ministry of Finance, based on their assigned functions and tasks, to research, train and disseminate contents of Vietnamese public accounting standards, and apply good and appropriate practices to serve as a basis for proposing and advising the Ministry on the reform of mechanisms and policies in the public sector in Vietnam.

Article 3. This Decision takes effect from the date of signing.

Article 4. Director of the Department of Accounting and Auditing Management and Supervision; Director of the Department of Organization and Personnel; Director of Legal Department; The Chief of Office of the Ministry and relevant units are responsible for the implementation of this Decision.