Decision No. 100/2005/QD-BTC of the Ministry of Finance issues and announces four Vietnamese accounting standards batch 5, applicable to all domestic enterprises. The decision takes effect fifteen days after its publication in the Official Gazette.
适用范围
All enterprises belonging to various industries and economic sectors throughout the country.
要点
- The Ministry of Finance issues four Vietnamese accounting standards batch 5 with the following numbers: Standard No. 11, Standard No. 18, Standard No. 19, and Standard No. 30.
- Enterprises must apply these accounting standards to adjust their accounting systems.
🌐 本文件的社会影响
- Enhance the quality of accounting information and control over accounting work in enterprises, contributing to improving the efficiency of economic and financial management.
- Enterprises need time to adjust their accounting systems according to the new standards and may encounter difficulties in human resources and costs.
❓ 常见问题
What contents do the four accounting standards batch 5 include?
The decision does not specify the specific contents of the four accounting standards, only determining their numbers and names: Standard No. 11 - Business Combinations; Standard No. 18 - Provisions, Contingent Assets and Liabilities; Standard No. 19 - Insurance Contracts; Standard No. 30 - Earnings Per Share.
When do enterprises start applying these new accounting standards?
Enterprises must apply the accounting standards batch 5 fifteen days after their publication in the Official Gazette.
To which types of enterprises does this decision apply?
The decision applies to all enterprises belonging to various industries and economic sectors throughout the country.
How will these new accounting standards change the current accounting system?
Enterprises need to base themselves on the four issued accounting standards to modify and supplement their current accounting system accordingly.
How long can the application period for these new accounting standards last?
The decision does not specify a specific duration, only stipulating that it takes effect fifteen days after its publication in the Official Gazette.
全文
DECISION OF THE MINISTER OF FINANCE
Regarding the issuance and promulgation
of four (04) Vietnamese Accounting Standards (batch 5)
THE MINISTER OF FINANCE
Pursuant to the Law on Accounting No. 03/2003/QH11 dated June 17, 2003;
Pursuant to Decree No. 77/2003/ND-CP dated July 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
To meet the requirements for reforming economic and financial management mechanisms, improving the quality of accounting information provided in the national economy, and to monitor and control the quality of accounting work;
At the proposal of the Director of the Department of Accounting Standards and Auditing and the Head of the Ministry of Finance's Office,
DECISION:
Article 1. Issuing four (04) Vietnamese Accounting Standards (batch 5) with the following numbers and names:
- Standard No. 11 - "Business Combinations";
- Standard No. 18 - "Provisions, Contingent Assets and Liabilities";
- Standard No. 19 - "Insurance Contracts";
- Standard No. 30 - "Earnings Per Share".
Article 2. The four (04) Vietnamese Accounting Standards issued together with this Decision shall apply to all enterprises in various sectors and economic components throughout the country.
Article 3. This Decision takes effect fifteen days after its publication in the Official Gazette. Specific accounting regulations must be revised and supplemented in accordance with the four accounting standards issued together with this Decision.
Article 4. The Director of the Accounting and Auditing Regulations Department, the Head of the Ministry's Office, and the Heads of relevant units under the Ministry of Finance are responsible for guiding, supervising, and implementing this Decision./.
DEPUTY MINISTER
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