Circular No. 213/2009/TT-BTC guiding accounting for State Reserves

✦ Tóm lược thông minh

Circular No. 213/2009/TT-BTC guiding accounting for State Reserves stipulates the scope of application, content of accounting work, accounting periods, asset inventory, administrative penalties for violations, and organization of implementation. This Circular takes effect from January 1, 2010.

Đối tượng áp dụng

The agencies and units under the National Reserve General Department, Regional National Reserve Bureau, Provincial National Reserve Office, other units directly under the General Department, and reserve units under Ministries and sectors entrusted with managing and preserving State reserves.

Các điểm cốt lõi

Accounting entities are agencies and units under the National Reserve General Department, Regional National Reserve Bureau, Provincial National Reserve Office, and other units directly under the General Department.
The content of accounting work includes collecting, processing, checking, analyzing, and providing economic and financial information; preparing and submitting financial reports within the prescribed deadlines.
Accounting for State Reserve activities must comply with regulations on vouchers, accounts, accounting books, and financial reports.
Closing the accounting books is carried out at the end of each quarter and year to ensure that the figures match across all accounting books.
Administrative violations in accounting are penalized according to Decree No. 185/2004/NĐ-CP.

🌐 Tác động xã hội từ văn bản này

Positive impact: Strengthening management and strict supervision of State Reserve funds and expenses.
Negative impact: Increased administrative burden for accounting units when implementing these regulations.

❓ Câu hỏi thường gặp

Which entities are subject to this accounting regime?

This accounting regime applies to agencies and units under the National Reserve General Department, Regional National Reserve Bureau, Provincial National Reserve Office, and other units directly under the General Department.

When must the accounting books be closed?

Closing the accounting books is carried out at the end of each quarter and year after reflecting all accounting vouchers generated during the period.

How are administrative violations in accounting penalized?

Accountants and related persons who commit administrative violations in accounting but not reaching the level of criminal offenses will be penalized according to Decree No. 185/2004/NĐ-CP.

When must accounting units prepare financial statements?

Quarterly and annual financial statements must be prepared according to the accounting periods and submitted within the prescribed deadlines: 10 days after the end of the quarterly accounting period for third-level accounting units; 20 days after the end of the quarterly accounting period for second-level accounting units; 15 days after the end of the quarterly accounting period for Ministries and sectors managing State reserves.

Who is responsible for implementing and guiding the implementation of this Circular?

The Minister, heads of ministries equivalent to ministries, Chairmen of People's Committees of provinces and centrally governed cities, and the Director-General of the National Reserve General Department are responsible for implementing and guiding the implementation of this Circular.

Toàn văn

CIRCULAR

Guidelines for Accounting Applied to State Reserves

________________

Based on the Accounting Law number 03/2003/QH11 dated June 17, 2003;

Based on the National Reserve Ordinance number 17/2004/PL-UBTVQH11 dated April 29, 2004;

Pursuant to the Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Based on Decision number 106/2009/TTg dated August 20, 2009 stipulating the functions, tasks, authorities, and organizational structure of the State Reserves General Department under the Ministry of Finance;

Based on the Accounting System for Administrative and Public Institutions issued together with Decision number 19/QĐ-BTC dated March 30, 2006 of the Minister of Finance.

The Ministry of Finance provides guidelines for accounting applied to state reserve units as follows:

This technical regulation sets out technical requirements, testing methods, sampling procedures; management requirements; responsibilities of organizations and individuals producing, trading, and importing cigarettes.

1. State reserve activity accounting involves collecting, processing, checking, analyzing, and providing economic and financial information in the form of value, physical goods, and labor time systematically through numerical data to manage and closely monitor the effective use of capital, funds, reserves, and various types of materials and assets, as well as compliance with budget revenues and expenditures, and implementation of national standards and norms at state reserve units under the Ministry of Finance and other ministries and sectors. At the same time, it provides economic and financial information to users as prescribed and implements management accounting according to internal management requirements.

Thông tư này áp dụng đối với tổ chức, cá nhân có liên quan đến hoạt động kinh doanh đối tượng thủy sản nuôi chủ lực trên lãnh thổ Việt Nam.

The entities subject to this accounting system include: The State Reserves General Department (hereinafter referred to as the General Department); The State Reserves Regional Department (hereinafter referred to as the Regional Department); The State Reserves District Department (hereinafter referred to as the District Department); Other units directly subordinate to the State Reserves General Department.

State reserve units under ministries and sectors directly responsible for managing and storing state reserves must organize, monitor, and record accounting in accordance with the law; implement the preparation and submission of financial statements as prescribed in Section 2, Annex 04 of this Circular.

3. State reserve accounting units organize accounting work, accounting structures, and accountants in accordance with the Accounting Law, Decree number 128/2004/NĐ-CP dated May 31, 2004 of the Government detailing and guiding the implementation of certain provisions of the Accounting Law applicable in the field of state accounting (hereinafter referred to as Decree number 128/2004/NĐ-CP dated May 31, 2004), current accounting laws, and provisions of this Circular.

4. Accounting tasks for state reserve activities

- Collecting, processing, supervising, analyzing, and providing information on income and expenditure activities of state reserves, internal operations, sources of funds, reserves, liabilities, cash, materials, goods, receivables, and internal payments within the accounting unit;

- Implementing checks and controls on the execution of budget revenues and expenditures, economic and financial indicators, national standards and norms, management and use of various types of materials and assets, and reserves within the unit, as well as compliance with fiscal discipline in tax payment and budgetary disbursement and payment discipline and financial policies of the state;

- Monitoring and controlling the allocation of budgetary funds to subordinate budget units, compliance with budget revenues and expenditures, and settlement of subordinate units;

- Preparing and submitting financial reports and management accounting reports to higher-level management agencies and financial agencies as prescribed;

- Providing necessary information and documents for audits and reviews, and for the preparation of budgets, consumption standards, analysis, and evaluation of the effectiveness of fund usage within the unit.

5. Accounting work content

The content of accounting work in state reserve accounting units includes:

5.1. Revenue accounting

Fully and promptly reflecting revenue from the sale of reserve goods, service activities, and other revenue generated within the unit.

5.2. Expenditure accounting

- Reflecting regular and irregular expenditures for reserve goods procurement, storage, and maintenance, investment in construction and development projects, program and project implementation according to approved budgets, and settlement of these expenditures;

- Reflecting service activity costs to determine service activity results.

5.3. Cash, material, goods, and receivable accounting

- Reflecting the current amount and changes in various types of monetary funds of the unit including Vietnamese dong, foreign currency, gold, silver, precious metals, and valuable certificates held in the unit's treasury or deposited at the State Treasury or Bank (if any), and funds in transit;

- Reflecting the quantity, value, and changes in reserve goods, raw materials, supplies, tools, and equipment at the unit;

- Reflecting advances, short-term financial investments, receivables, and the settlement of receivables from both internal and external parties.

5.4. Fixed asset accounting

Reflecting the quantity, original cost, and depreciation value of existing fixed assets, changes in fixed assets, basic construction investment, and repair work at the unit.

5.5. Fund and reserve accounting

Reflecting the current amount and changes in funds that have formed fixed assets, reserve funds, basic construction investment funds, operational funds, project funds, other funds, and reserves of the unit.

5.6. Liability accounting

Reflecting liabilities, deductions from salaries, payments to civil servants and employees, budget payments, settlement of treasury advances, settled funds carried over to the next year, and other liabilities and payments.

5.7. Internal payment accounting

Reflecting internal payments related to reserve sales proceeds, reserve funds, reserves, goods mobilization, and other internal payments.

6. Accounting periods

Accounting periods include: Annual accounting period, quarterly accounting period.

- The annual accounting period is twelve months, starting from January 1st to December 31st of the Gregorian calendar year; the annual accounting period coincides with the fiscal year.

- The quarterly accounting period is three months, starting from the first day of the quarter to the last day of the quarter.

7. Asset inventory

At the end of each accounting year, before closing the accounting books to prepare financial statements, units must conduct an inventory of materials, goods in stock, assets, internal funds, reconcile and confirm current receivables and payables of each accounting unit to ensure that the figures on the accounting books match the actual figures. In addition, units must also conduct extraordinary inventories when transferring, merging, dissolving units, and other cases as prescribed by law.

8. Accounting inspection

Units are subject to accounting inspections by higher-level accounting units, financial authorities, and state agencies with competent authority.

The heads of units and chief accountants (or persons responsible for accounting) must comply with orders for accounting inspections from superiors, state agencies with competent authority, and have the responsibility to provide all necessary data and documents to facilitate the accounting inspection work.

Accounting units must carry out self-inspection of finance and accounting according to the regulations stipulated in the self-inspection regulation of finance and accounting for agencies and units using state budget funds issued together with Decision No. 67/2004/QD-BTC dated August 13, 2004, of the Minister of Finance.

9. Administrative penalties for violations of accounting laws

Accountants and those related to accounting work who unintentionally or intentionally commit acts violating accounting laws but not reaching the level of criminal offenses shall be subject to administrative penalties for accounting violations as prescribed in Decree No. 185/2004/NĐ-CP dated November 8, 2004, of the Government on administrative penalties in the field of accounting and Circular No. 120/2004/TT-BTC dated December 15, 2004, of the Ministry of Finance guiding the implementation of Decree No. 185/2004/NĐ-CP.

10. Accounting organization

The accounting organization of the State General Reserve Administration is organized as follows:

- The State General Reserve Administration is an accounting unit at Level II;

- The Regional State Reserves Departments, the Reserve Business Training Center, and the Office of the General Administration are accounting units at Level III;

- The State Reserve Branches are subordinate accounting units under the Regional State Reserves Departments as specified by the State General Reserve Administration.

11. Chief Accountant or Person Responsible for Accounting

Persons appointed as chief accountant or person responsible for accounting and accountants in state reserve units must meet the standards and conditions prescribed by the Accounting Law, Decree No. 128/2004/NĐ-CP dated May 31, 2004, and Joint Circular No. 50/2005/TTLT-BTC-BNV dated June 15, 2005, of the Ministry of Finance and the Ministry of Home Affairs regarding guidelines for standards, conditions, procedures for appointment, removal, replacement, and payment of allowances for chief accountants and persons responsible for accounting in accounting units within the public sector.

II. SPECIFIC PROVISIONS

1. Accounting vouchers system:

1.1. Content and format of accounting vouchers

Accounting vouchers applied by units under the State General Reserve Administration must comply with the content, method of preparation, and signature of vouchers as prescribed by the Accounting Law, Decree No. 128/2004/NĐ-CP dated May 31, 2004, of the Government, Decision No. 19/2006/QĐ-BTC dated March 30, 2006, of the Minister of Finance, other relevant legal documents concerning accounting vouchers, and the provisions of this Circular.

1.2. System of accounting voucher formats

The system of accounting voucher formats applicable to units under the State General Reserve Administration includes:

- Accounting vouchers issued pursuant to Decision No. 19/2006/QĐ-BTC dated March 30, 2006, of the Minister of Finance, including:

+ Labor cost indicators;

+ Material indicators;

+ Currency indicators;

+ Fixed asset indicators.

- Special accounting vouchers for units under the State General Reserve Administration issued pursuant to this Circular;

- Accounting vouchers issued in relevant legal documents.

1.3. Preparation of accounting vouchers

- All economic and financial transactions related to the activities of accounting units must be recorded in accounting vouchers. An accounting voucher is prepared only once for each economic and financial transaction;

- The content of the voucher must be clear and truthful to the economic and financial transaction;

- Writing on vouchers must be clear, without erasures or abbreviations;

- Written amounts in words must match the corresponding numerical amounts;

- Accounting vouchers must be prepared with the full number of copies as prescribed for each voucher. For vouchers requiring multiple copies, they must be prepared simultaneously for all copies using a computer, typewriter, or carbon paper. In special cases where multiple copies cannot be prepared simultaneously, two separate preparations may be made, but the content of all copies must be identical.

Accounting vouchers prepared by computer must ensure the prescribed content and legal validity for accounting vouchers. Accounting vouchers used as direct bases for recording in accounting books must include accounting entries.

1.4. Signing of accounting vouchers

All accounting vouchers must bear complete signatures as prescribed on the voucher to be valid. Specifically, electronic vouchers must bear electronic signatures as prescribed by law. All signatures on accounting vouchers must be signed with a ballpoint pen or ink pen, not with red ink, pencil, or pre-carved signatures. Signatures on accounting vouchers used for cash payments must be signed separately for each copy. The signature of an individual on accounting vouchers must be consistent and match the registered signature as prescribed, and if not registered, subsequent signatures must be consistent with previous ones.

Accounting units that have not appointed or do not meet the criteria and conditions for appointing the position of chief accountant must designate a person responsible for accounting to transact with the Treasury Bank, Bank, and the signature of the chief accountant can be replaced by the signature of the person responsible for accounting of that unit. The person responsible for accounting must perform the duties, responsibilities, and rights prescribed for the chief accountant.

The signature of the head of the unit (or authorized representative), the chief accountant (or authorized representative), and the stamp on the voucher must match the sample stamp and signature still in effect registered at the Treasury Bank or Bank. The signature of the accountant on the voucher must match the signature in the book of registered signatures. The chief accountant (or authorized representative) may not sign "in excess of authorization" from the head of the unit. The authorized representative may not redelegate authority to another person.

Units under the State Reserve General Department must open a register to record the sample signatures of the cashiers, warehouse keepers, accounting staff, chief accountants (and authorized persons), unit heads (and authorized persons). The signature register must be numbered and stamped with a cross-stamp by the unit head (or authorized person) for easy inspection when necessary. Each person must sign three sample signatures in the signature register.

Accounting vouchers shall not be signed without recording or fully recording the contents of the voucher according to the responsibilities of the signer. The分级授权签署会计凭证由单位负责人根据法律规定、管理要求制定，确保严格控制和资产安全。

1.5. Sequence of circulation and verification of accounting vouchers

All accounting vouchers created by the unit or received from external sources must be centralized in the unit's accounting department. The accounting department must inspect all such accounting vouchers comprehensively, and only after verifying their legal validity can they be used to record in the accounting ledger.

1.5.1. Sequence of circulation of accounting vouchers includes the following steps

- Creating, receiving, and processing accounting documents;

- Accountants and chief accountants inspect and sign accounting vouchers or submit them to the unit head for approval according to the regulations specified for each type of voucher (if applicable);

- Classify, arrange accounting documents, determine accounts, and record in the accounting books;

- Store and preserve accounting documents.

1.5.2. Sequence of verification of accounting vouchers

- Verify the clarity, truthfulness, and completeness of the indicators and elements recorded on the accounting documents;

- Verify the legality of the economic and financial transactions recorded on the accounting documents; compare the accounting documents with related documents;

- Verify the accuracy of the figures and information on the accounting documents.

When inspecting accounting vouchers, if violations of policies, systems, and state regulations on economic and financial management are discovered, the relevant actions (cash withdrawal, payment, inventory release, etc.) must be refused, and a written report must be immediately submitted to the unit head for timely handling in accordance with current laws.

For accounting vouchers that are not established according to procedures, with unclear content and figures, the responsible inspector or ledger recorder must return them, request additional procedures, and make adjustments before using them as a basis for recording.

1.6. Translation of accounting vouchers into Vietnamese

Accounting vouchers recorded in foreign languages, when used to record in accounting ledgers in Vietnam, must be translated into Vietnamese. Vouchers that occur infrequently or frequently but have different contents must be fully translated. For frequently occurring vouchers with identical contents, the first one must be fully translated, while subsequent ones only need to translate key information such as the name of the voucher, the name of the issuing entity and individual, the receiving entity and individual, the economic content of the voucher, and the position of the signer. The translator must sign and clearly indicate their name, and bear responsibility for the translated content. The Vietnamese translation must be attached to the original foreign language voucher.

1.7. Usage, management, and printing of accounting voucher forms

All units under the State Reserve General Department must uniformly use the mandatory accounting voucher forms prescribed in this Circular. During implementation, units may not modify the mandatory voucher forms. For guidance-type accounting voucher forms, in addition to the prescribed contents, accounting units may supplement indicators or change the form to suit recording needs and management requirements.

Pre-printed voucher forms must be carefully preserved and not allowed to deteriorate. Checks and negotiable instruments must be managed like cash.

For accounting voucher forms, units may purchase or design their own (for guidance-type accounting vouchers), print them themselves, but must ensure the main contents of the vouchers stipulated in Article 17 of the Accounting Law and the provisions regarding vouchers in this Circular.

1.8. Units that use electronic vouchers for financial activities and accounting records must comply with the regulations on electronic vouchers in relevant legal documents.

The list of accounting vouchers, voucher forms, explanations of voucher content and methods of preparation are implemented according to the provisions in Appendix 01 attached to this Circular.

2. Accounting account system

2.1. Accounting accounts and accounting account system

An accounting account is an accounting method used to classify and systematically organize economic and financial transactions based on their economic content and chronological order. Accounting accounts reflect and control the situation of assets, budgetary funds received and utilized, reserve funds, and other funding sources; income and expenditure activities, results, and other items at state reserve units on a regular and continuous basis.

Accounting accounts are opened for each distinct economic subject. All accounting accounts used in state reserve accounting units form an accounting account system. The Ministry of Finance uniformly specifies the accounting account system applicable to all state reserve units nationwide. The accounting account system for these units is uniformly defined by the Ministry of Finance regarding types of accounts, number of accounts, codes, names, and recording contents of each account.

The accounting account system for state reserve units is based on the accounting account system of the Administrative and Public Institution Accounting System issued by Decision No. 19/2006/QD-BTC dated March 30, 2006, of the Minister of Finance, which has been detailed in Decision No. 2345/QD-BTC dated July 11, 2007, and the characteristics of state reserve business operations. The accounting account system is constructed based on the nature and content of state reserve unit activities, combining the application of classification and coding principles of enterprise accounting and state accounting systems, aiming to:

+ Fully meet management and control requirements for state budget funds, state reserve funds, capital, public funds, and satisfy the management and utilization requirements of units;

+ Fully reflect the economic and financial activities of state reserve units according to various types and fields, consistent with organizational models and operational characteristics;

+ Meet the requirements for processing information through computer means and fully satisfy the needs of units and government management agencies.

The accounting account system applicable to units under State Reserve includes accounts within the Balance Sheet and accounts outside the Balance Sheet.

Accounts within the Balance Sheet reflect all economic and financial transactions occurring according to accounting objects including assets, sources of asset formation, and the process of asset utilization at the unit. The bookkeeping principle for accounts within the Balance Sheet is implemented using the "double-entry" method, meaning that when recording on the Debit side of one account, it must simultaneously record on the Credit side of another or multiple accounts, or vice versa.

Accounts outside the Balance Sheet reflect existing assets at the unit but not owned by the unit (such as leased assets, held-for-safekeeping assets, processed assets, temporarily held assets, etc.), economic indicators already reflected in accounts within the Balance Sheet but require monitoring to serve management needs, such as: value of long-term tools and equipment in use, various foreign currencies, budgeted operational expenses allocated...

The bookkeeping principle for accounts outside the Balance Sheet is implemented using the "single-entry" method, meaning that when recording on one side of an account, there is no need to record on the corresponding side of other accounts.

2.2. Classification of the Accounting Account System

The accounting account system applicable to units under State Reserve, as prescribed by the Ministry of Finance, consists of seven types, from Type 1 to Type 6 being accounts within the Balance Sheet and Type 0 being accounts outside the Balance Sheet.

- Level 1 accounts consist of three decimal digits;

- Level 2 accounts consist of four decimal digits (the first three digits represent Level 1 accounts, the fourth digit represents Level 2 accounts);

- Level 3 accounts consist of five decimal digits (the first three digits represent Level 1 accounts, the fourth digit represents Level 2 accounts, the fifth digit represents Level 3 accounts);

- Accounts outside the Balance Sheet are numbered from 001 to 009.

2.3. Selection and Application of the Accounting Account System

Units under State Reserve must base their selection of the accounting account system applicable to their unit on the accounting account system issued in this Circular. The National Reserve General Department may supplement additional Level 2, Level 3, and Level 4 accounts (excluding accounting accounts already prescribed by the Ministry of Finance in the accounting account system) to meet management requirements of the unit.

In cases where the National Reserve General Department needs to open additional Level 1 accounts (three-digit accounts) beyond those already available or needs to modify or supplement Level 2 or Level 3 accounts within the accounting account system prescribed by the Ministry of Finance, such actions must be approved in writing by the Ministry of Finance before implementation.

The list of accounting accounts, explanations of structure, content, and accounting methods for accounts shall be carried out in accordance with the provisions of Appendix No. 02 attached to this Circular.

3. Accounting Books System

3.1. Accounting Books

Accounting books are used to record, organize, and retain all economic and financial transactions that have occurred according to economic content and chronological order related to the accounting unit.

All units under State Reserve must open accounting books, record, manage, preserve, and store accounting books in compliance with the Accounting Law, Decree No. 128/2004/NĐ-CP dated May 31, 2004 of the Government detailing and guiding the implementation of certain provisions of the Accounting Law applicable in state accounting, Decision No. 19/2006/QĐ-BTC dated March 30, 2006 of the Minister of Finance, other laws and regulations on accounting, and this Circular.

In addition to opening accounting books to track assets and directly managed funds, higher-level accounting units must also open accounting books to monitor budget allocation, consolidate fund usage, and settle accounts for subordinate units to compile financial reports on fund usage and settlement with higher-level management bodies and peer-level finance authorities. The decision to open and aggregate accounting data of subordinate units at the third level is made by the higher-level accounting unit.

3.2. Types of Accounting Books

Each accounting unit has only one set of accounting books for each fiscal year period. Accounting books include: Summary Accounting Books and Detailed Accounting Books.

Accounting books must ensure comprehensive, timely, accurate, truthful, continuous, and systematic reflection of all reserve activities, asset management and usage, and reserve capital sources to provide necessary information for managing and operating state reserves.

Under no circumstances should any income or expenditure from reserve activities or any assets or capital of accounting units be recorded outside the accounting books in any form.

3.2.1. Summary Accounting Books

The General Ledger is used to record economic and financial transactions occurring according to economic content (according to accounting accounts). Data in the General Ledger reflects the overall situation of assets, funding sources, and funding usage. Transactions in the General Ledger can be recorded in chronological order and by economic content of the transaction.

The General Ledger must reflect the following contents:

+ Date of entry;

+ Number and date of accounting vouchers serving as the basis for entry;

+ Summary of the main content of the economic and financial transaction;

+ Amount of the economic and financial transaction according to each economic content (recorded on the Debit or Credit sides of the accounts).

3.2.2. Detailed Accounting Books and Cards

Detailed Accounting Books and Cards are used to record detailed economic and financial transactions related to accounting objects according to management requirements that the General Ledger does not reflect. Data in detailed accounting books provide detailed information for internal management and for calculating and preparing financial report and settlement indicators.

Detailed accounting books contain the following contents:

+ Name of the book;

+ Date of entry;

+ Number and date of accounting vouchers serving as the basis for entry;

+ Summary of the content of the economic and financial transaction;

+ Amount of the economic and financial transaction;

+ Other indicators based on management requirements and accounting requirements of each specific accounting object, each type of accounting book has its own management indicators and structure.

3.3. Applied Accounting Forms

The accounting method shall be uniformly implemented according to the "Book Entry Voucher" accounting form for all accounting units under the State Reserve Administration.

3.3.1. Basic characteristics of the Book Entry Voucher accounting form

The basic characteristic of the Book Entry Voucher accounting form is that the general ledger entries are directly based on "Book Entry Vouchers." These vouchers are used to classify, systematize, and determine the debit and credit contents of economic and financial transactions that have occurred. The accounting ledger entries based on Book Entry Vouchers will be separated into two distinct processes:

+ Recording the chronological sequence of economic and financial transactions on the Book Entry Voucher Registration Book;

+ Recording the economic content of economic and financial transactions on the General Ledger.

3.3.2. Types of accounting ledgers

+ Book Entry Vouchers;

+ Book Entry Voucher Registration Book;

+ General Ledger;

+ Detailed Accounting Books and Cards.

3.3.3. Content and sequence of recording ledgers under the Book Entry Voucher accounting form

- Daily or periodically, based on audited accounting vouchers, Book Entry Vouchers are prepared. For recurring economic and financial transactions with similar economic content, a "Summary Table of Same Type Accounting Vouchers" is used to prepare Book Entry Vouchers. From the total amount on the "Summary Table of Same Type Accounting Vouchers," Book Entry Vouchers are prepared. After completion, these vouchers are transferred to the Chief Accountant or the person responsible for accounting or someone authorized by the Chief Accountant to review and sign off, then transferred to the Book Entry Voucher Registration Book and recorded in the General Ledger.

- At the end of the month, after all Book Entry Vouchers prepared during the month have been recorded in the Book Entry Voucher Registration Book and the General Ledger, the accountant proceeds to close the General Ledger to calculate the debit occurrences, credit occurrences, and the end-of-month balance for each account. On the General Ledger, the total amount of economic transactions occurring in the month is calculated. Based on the Book Entry Voucher Registration Book and the General Ledger, after verification and reconciliation, the "Occurrence Balance Sheet" and financial statements are prepared.

Detailed Accounting Books and Cards: Based on accounting vouchers or Book Entry Vouchers accompanied by a "Summary Table of Same Type Accounting Vouchers," they are recorded in detailed Accounting Books and Cards according to the requirements of each account. At the end of the month, the detailed Accounting Books and Cards are closed, and the data after closing the books are used to prepare a "Detailed Summary Table" for each account. The data on the "Detailed Summary Table" are reconciled with the debit occurrences, credit occurrences, and the end-of-month balance of each account on the General Ledger. After verification and reconciliation of the data on the "Detailed Summary Table" of each account, financial statements are prepared.

The sequence of recording ledgers under the Book Entry Voucher accounting form is illustrated in the following diagram: <attached document>

3.4. Responsibilities of those holding and recording accounting ledgers

Accounting ledgers must be strictly managed, with clear individual responsibilities assigned for holding and recording. Whoever is given an accounting ledger must be responsible for everything recorded in it throughout the period of holding and recording.

When there is a change in personnel holding and recording ledgers, the Chief Accountant or the person responsible for accounting must organize the handover of management and ledger recording responsibilities between the old and new accounting staff. The old accounting staff must be responsible for everything recorded in the ledger throughout the period of holding and recording. The new accounting staff assumes responsibility from the day of handover. The handover record must be confirmed by the Chief Accountant or the person responsible for accounting.

Accounting ledgers must be recorded promptly, clearly, and fully according to the ledger's contents. Information and figures recorded in the ledger must be accurate, truthful, and consistent with accounting vouchers.

Ledger recording must follow the chronological order of occurrence of economic and financial transactions. Information and figures recorded in the ledger of the subsequent year must continue the information and figures recorded in the ledger of the preceding year. Accounting ledgers must be recorded continuously from the time of opening until the time of closing.

3.5. Opening accounting ledgers

Accounting ledgers must be opened at the beginning of the accounting fiscal year or immediately after the decision to establish and start operations of the accounting unit.

3.5.1. Before manually opening accounting ledgers for use, the following legal procedures for the ledgers must be completed

- For bound ledgers:

+ Outside cover (Upper left corner) must include the name of the accounting unit, the center of the cover must include the name of the ledger, date of creation, date of closure, names and signatures of the preparer, Chief Accountant or person responsible for accounting, and head of the unit, and the date of completion of ledger recording or transfer to another person.

+ Each page of the accounting ledger must be numbered from one (01) to the last page number... and between two pages of the ledger, the stamp of the accounting unit must be affixed.

+ An accounting ledger is only considered legal after completing all the above procedures.

- For loose-leaf ledgers:

+ At the beginning of each loose leaf ledger, the name of the unit, the serial number of each ledger sheet, the name of the ledger, the month of use, and the names of the holder and recorder of the ledger must be clearly stated.

+ Loose leaf ledgers must be signed off and stamped by the Head of the Unit before use and registered in the Loose Leaf Usage Register.

+ Loose leaf ledgers must be arranged in the order of accounting accounts and must ensure safety and ease of access.

3.5.2. Opening accounting ledgers

At the beginning of the year, accounting ledgers for the new budget year must be opened to receive the balances from the previous year's ledgers and record new economic and financial transactions occurring from January 1st.

- For consolidated ledgers:

At the beginning of the year, the entire balance of accounts on the previous year's General Ledger must be transferred to the new year's General Ledger.

- For detailed ledgers:

+ Handwritten detailed ledgers can be used for multiple years, at the end of each year, a horizontal line is drawn across the ledger to begin tracking for the new year. When the ledger is full, a new detailed ledger is started;

+ For ledgers related to budget revenue and expenditure: Figures on these ledgers do not need to be transferred to a new ledger but remain on the previous year's ledger to continue recording new economic transactions during the adjustment and settlement period until the previous year's settlement is approved.

3.6. Recording accounting ledgers

The entries in accounting ledgers must be based on lawful accounting vouchers. All data recorded in accounting ledgers must be supported by lawful accounting vouchers. Entries in accounting ledgers must be made with ink pens, not red ink or pencils. Numbers and letters must be clear, continuous, and systematic. When a page is fully recorded, the figures of each page must be summed up and carried over to the top of the next page. Accounting ledgers shall not contain abbreviations, additional entries above or below, overlapping entries, or blank lines. If a page is not fully recorded, it must be crossed out. Erasing and using chemical substances for corrections are prohibited. Corrections to accounting ledgers must follow the methods prescribed in the Accounting Law and this Circular.

3.7. Manual or computerized accounting ledger entries

State-owned reserve units may open and record manual or computerized accounting ledgers.

In cases where computerized accounting ledger entries are implemented, units may choose to purchase or develop accounting software that complies with the standards and conditions set forth by the Ministry of Finance, and must reflect all indicators specified for each ledger form and conform to the "Voucher Ledger" accounting format. At the end of the accounting period, after completing the ledger closing process as required for each type of ledger, a complete printout of the consolidated and detailed accounting ledgers must be produced and bound into volumes. Legal procedures similar to those for handwritten ledgers must then be followed for archival purposes.

Computerized accounting ledgers, after being printed and bound into volumes, must also undergo the procedures stipulated in Point 3.5.1 above.

3.8. Closing accounting ledgers

3.8.1. At the end of the accounting period (end of quarter and year), before preparing financial statements, units must close their accounting ledgers. Specifically, cash ledger accounts must be closed at the end of each day. Additionally, ledgers must be closed in cases of unexpected inventory checks or other situations as prescribed by law.

Closing accounting ledgers involves summing up to determine the total debit and credit occurrences and the final balance of each accounting account or the total receipts, expenditures, balances, inputs, outputs, and stock balances.

3.8.2. Procedure for closing accounting ledgers

Step 1: Verification and reconciliation before closing accounting ledgers

- At the end of the accounting period, after reflecting all accounting vouchers generated during the period in the ledgers, reconcile the figures on the accounting vouchers (if necessary) with the figures recorded in the ledgers, and between the figures of related ledgers to ensure consistency between the figures on the accounting vouchers and those recorded in the ledgers, and among the ledgers. Sum up the occurrences on the General Ledger and detailed ledgers.

- From the detailed accounting ledgers and cards, prepare a detailed summary table for accounts that need to be recorded across multiple ledgers or pages.

- Sum up the debit and credit occurrences of all accounts on the General Ledger to ensure consistency and equality with the total occurrences in the Voucher Ledger Registration Book. Then reconcile the figures on the General Ledger with those on the detailed ledgers or detailed summary tables, and between the figures of the accountant and the cashier. After ensuring consistency, proceed to close the ledgers. Any discrepancies must be identified and resolved until consistency is achieved.

Step 2: Closing the ledger

- When closing the ledgers, draw a horizontal line under the last transaction entry of the accounting period. Then write "Total occurrences in the month" below the drawn line;

- Write the line "Final balance of the period" (month, quarter, year);

- Write the line "Cumulative total occurrences from previous months" starting from the beginning of the quarter;

- Then write the line "Total cumulative occurrences from the start of the year";

* The "Final balance of the period" is calculated as follows:

Ending Debit Balance for the Period

Beginning Debit Balance for the Period

Debit Occurrences in the Period

Credit Occurrences in the Period

Ending Credit Balance for the Period

Beginning Credit Balance for the Period

Credit Occurrences in the Period

Debit Occurrences in the Period

After calculating the ending balance for each account, record the debit balance in the debit column and the credit balance in the credit column.

- Finally, draw two consecutive lines to conclude the closing process.

- For certain detailed ledgers structured with debit occurrence, credit occurrence, and balance columns (or input, output, remaining, or income, expenditure, fund balance...), the balance figures (remaining or balance) should be entered into the "Final balance of the period" line of the balance column or fund balance column, or remaining column.

After closing the accounting ledgers, the ledger keeper must sign below two drawn lines. The chief accountant or the person responsible for accounting must verify accuracy and balance and sign to confirm. Then submit to the head of the unit for verification and approval to confirm the legal validity of the closed ledger figures.

3.9. Correcting accounting ledgers

3.9.1. When errors are discovered in manually recorded accounting ledgers during the ledger recording process, they must not be erased but corrected using one of the following methods:

3.9.1.1. Correction method

This method is used to correct errors by drawing a straight line through the incorrect entry while still ensuring the original content is visible. Above the crossed-out area, write the correct number or letter in ink and have the chief accountant or the person responsible for accounting sign beside the correction.

This method applies to the following cases:

- Errors in explanation that do not relate to the corresponding relationship between accounts;

- Errors that do not affect the total amount.

3.9.1.2. Negative entry method (also called the red entry method)

This method is used to adjust errors by writing the incorrect entry in red ink or within parentheses to cancel the incorrect entry, and then recording the correct entry in regular ink. This method applies in the following cases:

- Errors in the corresponding relationship between accounts due to incorrect journal entries that have been recorded in the accounting books and cannot be corrected using the correction method;

- Discovering errors after submitting financial statements to the competent authority;

- Errors where the journal entry at the account has recorded multiple amounts or the incorrect figure is larger than the correct figure.

When using the negative entry method to correct errors, a "Correction Voucher Ledger Entry" must be prepared and signed by the chief accountant (or the person responsible for accounting).

3.9.1.3. Supplementary entry method

This method applies when the relationship between accounts is correctly recorded but the amount recorded in the ledger is less than the amount on the voucher or the amount was omitted. Corrections using this method require the preparation of a "Supplementary Voucher Ledger Entry" to record the missing amount in regular ink.

3.9.2. Correcting in cases of computerized accounting ledger entries

- If errors are discovered before submitting the annual financial report to the state authority, they must be directly corrected in the accounting ledger of that year on the computer;

- If errors are discovered after submitting the annual financial report to the state authority, they must be directly corrected in the accounting ledger of the year in which the error was found on the computer and noted in the last line of the erroneous ledger.

- The corrections when recording in accounting books using computers shall be carried out according to the "Negative Recording Method" or the "Supplementary Recording Method".

3.9.3. When the annual settlement report has been approved or upon completion of inspection, audit, and issuance of a formal conclusion, if there is a decision to correct the figures on the financial statements related to the figures recorded in the accounting books, the entity must correct the accounting books and the balances of the relevant accounting accounts according to the prescribed method. The correction shall be made directly on the accounting book of the year in which the error was discovered, while also noting at the end page (last line) of the accounting book of the previous year with errors (If the error is detected after submitting the financial statements to the competent state agency) for easy comparison and verification.

The list of accounting books, accounting book models, explanations of the contents and methods of recording in accounting books shall be implemented in accordance with Appendix No. 03 attached hereto.

4. Financial Reporting System

4.1. Financial Statements, Management Accounting Reports

4.1.1. Types of Reports

State Reserve activity reports include:

- Financial statements and settlement reports;

- Management accounting reports.

4.1.2. Requirements for Preparing Financial Statements and Management Accounting Reports

Reports must be prepared according to the prescribed forms, reflecting all indicators specified for each type of report.

The method of consolidating data and preparing indicators in the reports must be uniformly applied across State Reserve entities to facilitate consolidation, analysis, verification, and comparison of data.

The indicators in the reports must ensure consistency, complementing each other systematically and continuously, serving research, analysis, and evaluation of the implementation of the State Budget and State Reserve activities.

Data must be accurate, truthful, objective, and must be derived from accounting books after verification, reconciliation, and closing of the accounting books.

Reports must be prepared and submitted within the prescribed period, sending complete reports to each recipient.

4.2. Responsibilities of Entities in Preparing and Submitting Financial Statements and Management Accounting Reports

4.2.1. Responsibilities of Entities under and Subordinate to the National Reserve General Department

Basic-level accounting units prepare quarterly and annual financial statements and submit them to the management unit, financial authority, and State Treasury where transactions take place for coordination in verification, reconciliation, and adjustment of accounting data related to state budget revenues and expenditures and unit operations. Higher-level accounting units are responsible for consolidating quarterly and annual financial statements from basic-level accounting units and national reserve units directly managed and stored by ministries and sectors.

Any adjustments to figures on financial statements must be conducted from the stage of preparing accounting vouchers to the stage of recording in accounting books, ensuring truthful reflection of all financial activities of the unit.

4.2.2. Responsibilities of Ministries and Sectors Managing State Reserves

- State reserve units directly managed by ministries and sectors must prepare quarterly and annual financial statements related to State Reserve activities and submit them to higher authorities.

- Ministries and sectors must consolidate quarterly and annual reports of subordinate State Reserve units according to the prescribed format and submit them to the National Reserve General Department within the prescribed period.

4.2.3. Responsibilities of Financial Authorities, Tax Authorities, and State Treasuries

State Treasuries at all levels, financial authorities, tax authorities, and related units have the responsibility to coordinate in verifying, reconciling, adjusting, providing, and utilizing accounting data related to state budget revenues and expenditures and unit operations.

4.3. Periods for Preparing Financial Statements, Settlement Reports, and Management Accounting Reports

- Financial statements are prepared according to the accounting periods of quarters and years.

- Annual settlement reports are financial statements of the accounting year after being adjusted, revised, and supplemented during the settlement adjustment period as prescribed by law.

- Management accounting reports are prepared according to the accounting periods of quarters or individual events from the start to the completion of the work as stipulated in Part Five of this accounting system.

- When there is a division, separation, merger, or cessation of operations, financial statements must be prepared at the time of the decision to divide, separate, merge, or cease operations.

4.4. Deadlines for Submitting Financial Statements, Annual Settlement Reports, and Management Accounting Reports

4.4.1. Deadlines for Submitting Financial Statements and Management Accounting Reports

4.4.1.1. Quarterly Financial Statements

+ Basic-level accounting units (called subordinate accounting units) submit quarterly financial statements to higher-level accounting units (called level III accounting units) within the deadline set by the National Reserve General Department;

+ Level III accounting units submit quarterly financial statements to the National Reserve General Department (called level II accounting units) and the State Treasury at the same level no later than 10 days after the end of the quarterly accounting period;

+ Level II accounting units submit quarterly financial statements to the Ministry of Finance (called level I accounting units) and the State Treasury at the same level no later than 20 days after the end of the quarterly accounting period;

+ Ministries and sectors managing reserves submit quarterly financial statements to the National Reserve General Department no later than 15 days after the end of the quarterly accounting period.

4.4.1.2. Annual Financial Statements

State reserve units submit annual financial statements according to the deadlines for submitting annual settlement reports as stipulated in Section 4.4.2, Point 4 below.

4.4.2. Deadline for Submitting Annual Settlement Reports

+ Subordinate accounting units submit annual settlement reports to level III accounting units no later than February 15 of the following year;

+ Level III accounting units review and consolidate annual settlement reports and submit them to level II accounting units no later than March 31 of the following year;

+ Level II accounting units review and consolidate annual settlement reports and submit them to the Ministry of Finance no later than June 30 of the following year.

4.4.3. Deadline for Submitting Management Accounting Reports

4.4.3.1. Quarterly Management Accounting Reports

- Subordinate units prepare quarterly management accounting reports and submit them to the National Reserve General Department no later than five days after the end of the quarterly accounting period;

- The State Regional National Reserve Bureau shall submit the management accounting report to the National Reserve General Department no later than ten days after the end of each quarter's accounting period;

- State Reserve units under Ministries and sectors shall submit the management accounting report to the National Reserve General Department and their superior agencies (if any) no later than ten days from the end of each quarter's accounting period;

4.4.3.2. Annual Management Accounting Report

- The Reserve Sub-bureau shall submit the annual management accounting report to the Reserve Bureau no later than forty-five days after the end of the annual accounting period;

- The State National Reserve Bureau shall submit the management accounting report to the National Reserve General Department no later than ninety days after the end of the annual accounting period;

- State Reserve units under Ministries and sectors shall submit the management accounting report to the National Reserve General Department and their superior agencies (if any) no later than ninety days after the end of the annual accounting period;

- The National Reserve General Department shall submit the annual management accounting report to the Ministry of Finance (Department of Financial Planning) no later than June 30 of the following year;

4.4.3.3. For management accounting reports prepared for individual cases or tasks upon completion of the assigned work, such reports shall be prepared according to specific guidelines issued by the National Reserve General Department;

The list of reports, financial statement templates, management accounting reports, explanations of the content and methods for preparing financial statements and management accounting reports shall be implemented in accordance with Appendix No. 04 attached to this Circular;

III. IMPLEMENTATION

1. This Circular replaces Decision No. 45/2005/QD-BTC dated July 13, 2005 of the Minister of Finance on the accounting system for national reserves and shall take effect from January 1, 2010;

2. The Minister, heads of ministries at the ministerial level, Chairmen of People's Committees of provinces and centrally governed cities, and the Director of the National Reserve Administration are responsible for implementing and guiding the implementation of this Circular./.

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