This Circular stipulates the method for handling price differences through inventory of materials and goods at 00:00 on October 1, 1985 for enterprises and banks. Enterprises shall determine the actual ratio between their own working capital and bank loans to allocate price differences, and simultaneously record accounting according to regulations.
적용 범위
Enterprises and the State Bank of Vietnam
핵심 사항
- Determine the actual ratio between the enterprise's own working capital and bank loans at the time of inventory (Article 1)
- Allocate price differences in materials and goods inventory according to the above ratio to supplement the enterprise's own working capital or bank credit funds (Article 2a)
- Handle the excess price difference in grain inventory over the quota at the time of inventory (Article 2b)
- Record accounting according to specific provisions for each type of price difference (Article 3)
- Implement the policy of conducting inventory, changing material and goods prices at the right time, and strictly handle violations (Article 4)
🌐 이 문서의 사회적 영향
- Positive impact: Helps enterprises and banks adjust working capital reasonably, avoiding shortages or surpluses of capital.
- Negative impact: May cause difficulties in financial management for businesses if not adhered to correctly.
❓ 자주 묻는 질문
How are enterprises handling price differences?
Enterprises shall determine the ratio of their own working capital and bank loans, then allocate price differences according to this ratio to supplement the enterprise's own working capital or bank credit funds (Article 2a).
How is the excess price difference in grain inventory handled?
The portion of the price difference exceeding the quota between the old and new prices of grain inventory is collected into the local budget to subsidize prices for cadres and employees (Article 2b).
Which units are responsible for recording price differences?
Levels of banks and finance, together with units determining the additional price difference to supplement the unit's own capital and the additional price difference to supplement bank loans (Article 3a).
Which enterprises will be dealt with strictly?
Enterprises that engage in fictitious issuance, hoarding goods, waiting for price increases, etc., at the time of inventory will be dealt with strictly according to state laws (Article 4).
Are previous regulations related to this abolished?
Regulations in Circular No. 248/NH-CV dated October 25, 1985 of the State Bank and Circular No. 731/TC dated October 1, 1985 of the Ministry of Finance contrary to this Circular are abolished (Article 5).
전문
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MINISTRY OF FINANCE AND STATE BANK OF VIETNAM |
SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness ------------------------------ |
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Number: 36 LB/TC-NH |
Hanoi, February 17, 1986 |
JOINT CIRCULAR
Regarding the handling of price differences through inventory checks of materials and goods at 00:00 on October 1, 1985
Implementing Circular No. 6392/V13 dated December 12, 1985 of the Council of Ministers on the handling of price differences through inventory checks of materials and goods at 00:00 on October 1, 1985, the Ministry of Finance and the State Bank guide certain specific points as follows:
1. Determining the actual ratio between the enterprise's own working capital and bank loans at the time of inventory check:
a) The enterprise's own working capital and that considered as such includes:
- Working capital provided by the state budget
- Working capital adjusted by the supervising authority
- Development fund contributions to supplement working capital
- Working capital contributed by joint venture partners
- Plan quota debts
The total of the above factors constitutes the enterprise's own working capital and that considered as such.
b) Bank loans:
The total balance of working capital loan debts owed to the bank up to 00:00 on October 1, 1985
The total of the two sources of capital (a-b) is considered 100% of the enterprise's working capital used at the time of inventory check, from which the percentage of each source in the total is determined.
2. Handling the price difference of materials and goods in stock:
a) The entire amount of the price difference of materials and goods in stock (excluding two special cases being the price difference of quantities exceeding quotas in the retail sector and materials received by supply organizations from foreign trade without timely payment) shall be allocated according to the actual ratio between the enterprise's own capital and bank loans mentioned above.
- The portion of the price difference used to supplement the enterprise's own working capital is recorded in Account 85.2
- The portion of the price difference supplementing the credit capital of the bank is recognized as a debt of the enterprise to the bank.
For enterprises that have recognized a debt for the price difference portion allocated to the enterprise's own capital with the bank, the bank shall refund the portion enjoyed by the enterprise, allowing the enterprise to use this capital to supplement its own working capital. Any interest earned by the bank from the date the enterprise recognized the debt until the date of refund of the portion enjoyed by the enterprise shall be recorded as the enterprise's profit.
For enterprises that have paid the aforementioned price difference into the state budget, they should request the budget to refund it to supplement the enterprise's own capital and the bank's credit capital as stipulated above.
Enterprises that have not yet processed and still record the price difference in Account 15 should handle it according to the guidance above.
b) For the price difference of grain in stock exceeding quotas at the time of inventory check on October 1, 1985 due to unsold standard grain for cadres, workers, and armed forces, if the price difference has been recorded in Account 15, it shall be collected into the local government budget to subsidize grain prices for cadres, workers (including both central and local levels) and armed forces within the province. In cases where the local government budget has already been subsidized by the central government to balance in the fourth quarter of 1985, this price difference must be paid into the central government budget.
c) For the price difference of imported materials and goods that have not yet been paid for by supply organizations (including units engaged in import and export permitted to retain part of the imported materials for export, reciprocal sales to purchase export goods, bonus sales of materials, sales to repay foreign currency usage rights...), based on invoices from import and export trading units, the sources of commercial capital, loans, and aid for these materials and goods in stock shall be distinguished:
- For imported commercial goods, 50% will be supplemented into the enterprise's own working capital, while the remaining 50% will be supplemented into bank loans.
- For imported goods under loans and aid, 100% of the price difference must be paid into the central government budget. In special cases, if localities are allowed by the central government to borrow to import goods, the price difference of these goods must be paid 100% into the local government budget.
3. Regarding accounting entries:
a) Based on the principle of handling price differences as described above, banking and finance authorities at all levels, together with relevant units, determine the amount of price difference to be supplemented into the unit's own capital and the amount of price difference to be supplemented into bank loans:
- The portion of the price difference used to supplement the enterprise's own working capital shall be recorded as revenue in the state budget under Item 8, Category, and Subcategory appropriate to the current state budget ledger, simultaneously recording expenditures from the budget to provide working capital to the enterprise under Item 32 8, Category, and Subcategory appropriate to the current state budget ledger.
- The portion to supplement bank loans shall be recognized as a debt by the enterprise to transfer to the Central Bank for recording in Account 06 012. The Central Bank will consolidate and send to the Ministry of Finance, simultaneously recording revenue in the central government budget and expenditures to provide the State Bank with working capital loans.
b) In cases where imported goods belong to loan and aid sources but have not yet been paid for (as mentioned in Point C, Item 2), the following actions shall be taken:
- Record revenue in the central government budget, Account 710, Item 8, Category, and Subcategory appropriate (if the goods belong to the central level).
- Record revenue in the local government budget, Account 730, Item 8, Category, and Subcategory appropriate (if the goods belong to the local level permitted by the central government to borrow for import).
c) The price difference regarding excess grain in stock over quotas (as mentioned in Point b, Item 2) shall be recorded as revenue in the local government budget, Account 797 for provinces, cities, and special zones, and Account 798 for districts and counties.
Debit Side: Price difference of excess grain in stock over quotas checked on October 1, 1985
Credit Side: Used to subsidize grain prices for cadres, workers, and armed forces within the province.
In cases where the local government budget has already been subsidized by the central government in the fourth quarter of 1985, the enterprise must pay this price difference back to the central government budget, Account 710, Category 1, Subcategory 18, Item 2, Item 8.
During implementation, if there are errors or mistakes requiring refunds, the current regulations shall apply.
4/ Units strictly implement the inventory policy and price adjustment for materials and goods at 00:00 on October 1, 1985, according to Circular No. 4975-V13 dated September 26, 1985, of the Council of Ministers. In cases where units engage in fraudulent activities such as issuing false withdrawal certificates, concealing goods, waiting for price increases, etc., at the time of inventory, they must be dealt with severely in accordance with state laws (for central-managed units that pay taxes to the central budget, local units shall pay taxes to the local budget).
5/ Any branch of the State Bank that has transferred the additional working capital of enterprises back to the Central Bank shall prepare a list of enterprises and the amount of capital to be returned to those enterprises.
All provisions in Circular No. 248/NH-CV dated October 25, 1985, of the State Bank and Circular No. 731/TC dated October 1, 1985, of the Ministry of Finance that contradict this circular are hereby abolished.
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THE MINISTER OF FINANCE DEPUTY MINISTER (Signed)
Hồ Tế
Place of Receipt: - As above - VP/HDBT(V13) - Provincial, municipal, special zone, district, and county State Banks - Financial Departments of cities, provinces, and special zones - Departments, Institutes, and Specialized Banks under the two Ministries - To be filed with the Office of the State Bank, the Finance Department, and the Economic Planning Department (State Bank) |
K/T GENERAL DIRECTOR OF THE STATE BANK OF VIETNAM DEPUTY GENERAL DIRECTOR (Signed)
(Nguyễn Văn Đạm) |
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