{"id":210,"date":"2020-01-30T16:18:31","date_gmt":"2020-01-30T07:18:31","guid":{"rendered":"http:\/\/suzuki-global.com\/vietnam-accounting\/?p=210"},"modified":"2021-12-18T15:46:37","modified_gmt":"2021-12-18T06:46:37","slug":"vietnam-accounting-standards-and-accounting-period","status":"publish","type":"post","link":"https:\/\/suzuki-global.com\/en\/vietnam-accounting-standards-and-accounting-period\/","title":{"rendered":"Accounting standards and accounting period in Vietnam"},"content":{"rendered":"
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In Vietnam,Vietnam Accounting Standard<\/span><\/a>It is necessary to prepare financial statements in accordance with (VAS: Vietnam Accounting Standards). In Vietnam, it will be the most used in the world by 2025.International financial reporting standards<\/span><\/a>(IFRS: International Financial Reporting Standards) is under consideration.<\/span><\/p>

Understanding of accounting standards and accounting system is very important for doing business in Vietnam. Understanding your accounting rules so that you can develop a rational strategy can help you execute an efficient business strategy. So this timeVietnamese accounting system<\/span><\/a>I would like to introduce the outline of.<\/span><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\u21d2Comparison table between Vietnam's accounting standards and accounting period and Japan<\/strong><\/span><\/a>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Vietnam Accounting Standards Overview\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Local and foreign-invested companies operating in the country are required by law to comply with Vietnamese Accounting Standards (VAS) when recording financial transactions.<\/span><\/p>\n

In fact, many foreign-affiliated companies apply accounting systems in line with VAS and amend them quarterly to International Financial Reporting Standards (IFRS) or national accounting standards for parent company reference. going.<\/span><\/p>\n

Foreign currencies that foreign-affiliated companies can select are foreign currencies in addition to the Vietnamese dong (trades that handle a lot of foreign currencies). However, if a foreign currency is chosen as the currency unit, you must continue to prepare your financial statements in the foreign currency of your choice. Changing the currency unit is limited to special circumstances, such as when there is a significant change in the company's transactions, so be careful when starting a business. It is also necessary to keep in mind that even if the currency unit is a foreign currency, it must be converted into Vietnamese Dong before it is submitted to the Vietnamese authorities.<\/span><\/p>\n

VAS requires the following accounting records:<\/span><\/p>\n