Circular No. 89/2019/TT-BTC guiding accounting for the Vietnam Securities Depository Center

         CIRCULAR

Accounting guidance applicable to

Vietnam Securities Depository Center

Pursuant to Law on Accounting No. 88/2015/QH13 dated November 20, 2015;

Pursuant to the Securities Law No. 70/2006/QH11 dated June 29, 2006 and the Law Amending and Supplementing Certain Provisions of the Securities Law No. 62/2010/QH12 dated November 24, 2010;

Pursuant to the Decree No. 174/2016/NĐ-CP dated December 30, 2016 of the Government detailing certain provisions of the Accounting Law;

Pursuant to the Decree No. 58/2012/NĐ-CP dated July 20, 2012 of the Government detailing and guiding the implementation of certain provisions of the Securities Law and the Law Amending and Supplementing Certain Provisions of the Securities Law;

Pursuant to the Decree No. 60/2015/NĐ-CP dated June 26, 2015 of the Government amending and supplementing certain provisions of the Decree No. 58/2012/NĐ-CP dated July 20, 2012 of the Government detailing and guiding the implementation of certain provisions of the Securities Law and the Law Amending and Supplementing Certain Provisions of the Securities Law;

Pursuant to the Decree No. 122/2017/NĐ-CP dated November 13, 2017 of the Government stipulating certain special contents regarding financial management mechanisms and effectiveness evaluation for lottery business enterprises; Stock Exchanges and Vietnam Securities Depository Center;

Pursuant to the Decree No. 42/2015/NĐ-CP dated May 5, 2015 of the Government on Derivative Securities and Derivative Securities Market;

Pursuant to the Government's Decree No. 87/2017/NĐ-CP dated July 26, 2017 on the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Considering the proposal of the Director of the Department of Accounting and Auditing Supervision;

The Minister of Finance issues this Circular guiding accounting for the Vietnam Securities Depository Center.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

1. This Circular stipulates the accounting accounts and financial reports applicable to the Vietnam Securities Depository Center;

2. This Circular does not apply to the determination of tax liabilities of the Vietnam Securities Depository Center to the State budget;

3. For matters not guided by this Circular, the Vietnam Securities Depository Center shall implement according to the Vietnamese Accounting Standards System; Circulars guiding the implementation of accounting standards; the Enterprise Accounting Regulations issued together with Circular No. 200/2014/TT-BTC dated December 22, 2014 of the Ministry of Finance and Circulars guiding amendments and supplements to the Enterprise Accounting Regulations (if any).

Article 2. Applicability

This Circular guides accounting for the Vietnam Securities Depository Center (hereinafter referred to as VSD).

Chapter II

SPECIFIC PROVISIONS

Article 3. Provisions on accounting accounts

1. The list of accounting account systems and the content, structure, and recording methods of some specific accounting accounts of VSD shall be implemented in accordance with the guidance provided in Appendix No. 01 attached to this Circular.

2. In cases where VSD needs to add level 1 or level 2 accounts or modify the names, codes, contents, and bookkeeping methods of level 1 or level 2 accounts already specified in this Circular for special economic transactions, such modifications must be approved in writing by the Ministry of Finance before implementation.

3. VSD may open additional accounts from level 2 onwards for accounts without specified level 2 or level 3 accounts, to meet its management requirements, without needing approval from the Ministry of Finance.

Article 4. Provisions on financial reporting

1. The financial reporting system of VSD includes annual financial reports and interim financial reports.

a) Annual financial report of VSD, including:

- Financial position statement Model B 01 - VSD

- Income statement Model B 02 - VSD

- Cash flow statement Model B 03 - VSD

- Notes to the financial statements Model B 09 - VSD

b) Interim financial report of VSD (full format), including:

- Interim financial position statement Model B Ola - VSD

- Interim income statement Model B 02a - VSD

- Interim cash flow statement Model B 03a - VSD

- Selected notes to the financial statements Model B 09a - VSD

2. The financial reporting forms and instructions for preparing and presenting indicators in the financial reports of VSD shall be implemented in accordance with the guidance provided in Appendix No. 02 attached to this Circular.

3. Methods of sending and receiving financial reports

Financial reports may be submitted in paper form or electronic form depending on practical conditions and the requirements of the receiving authority.

Chapter III

IMPLEMENTATION

Article 5. Conversion of balances on accounting ledgers

1. VSD shall implement the conversion of balances on accounting ledgers in accordance with the provisions of this Circular.

2. Other contents currently detailed in relevant accounts that are inconsistent with this Circular must be adjusted in accordance with the provisions of this Circular.

Article 6. Retroactive Provisions

VSD shall restate comparative information on financial statements for indicators that have changed between this Circular and the accounting regulations issued by VSD pursuant to Circular No. 152/2010/TT-BTC dated September 28, 2010, of the Minister of Finance, and provide an explanation for the changes in this Circular.

Article 7. Effective Date and Implementation

1. This Circular takes effect from February 10, 2020, and applies starting from the fiscal year 2020. This Circular replaces Circular No. 152/2010/TT-BTC dated September 28, 2010, of the Minister of Finance, which provides guidance on accounting for VSD.

2. The Director of the Accounting and Auditing Supervision Department; the Chairman of the Board of Directors, the General Director of VSD, and the heads of related units are responsible for implementing this Circular.

3. In the course of implementation, if there are difficulties or obstacles, they are requested to reflect them to the Ministry of Finance for research and resolution./.

                                                                                      Deputy MINISTER

                                                                                       VICE MINISTER

                                                                                     (Signed)

                                                                                       DO HOANG ANH TUAN