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    Circular 200/TT-BTC


    On 22nd December 2014, the Ministry of Financeissued Circular No. 200/2014/TT-BTC to supersede the current accounting system under Decision 15/2006/QĐ-BTC. This Circular shall take effect from 01st January 2015 and apply for preparing and presenting Financial Statement from 2015 onwards.

    This Circular is more opened than the Decision No.15/2006/QĐ-BTC, consistent with the practice, international rules and respect for the nature rather than form. The new Circular changes the nature of some following point:

    • Repealing three forms of bookkeeping (vouchers journal, entry vouchers, general journal)

              Many transactions have changed the recording perspective. Accordingly:

              (i) Some accounts are removed and some added

              (ii) Presentation of some indicators on financial statements have changed

              (iii) The way to recording some accounts will be different from presenting on the financial statements.

    • The system of form of accounting books and vouchers are not required to comply. Enterprises can design the accounting books, accounting vouchers to suit each business. However, the Ministry of Finance has issued the form of accounting books and vouchers as guidance for enterprises who does not design books and vouchers for themselves.
    • When preparing financial statements, the impairment of assets (asset impairment) is considered as an operation. Example: Some of financial investments and real estate investments.
    • The transaction recording will be made with the highest compliance of International Financial Reporting Standards (IFRS).
    • The recording for accounting purposes will separate with tax purposes. Notes to the financial statements include both contents and subjects.
    • The indicators does not arise on financial statements are allowed to leave out.
    • There are lot of changing in recording transactions: Change account numbers (TK) and perspective to record transactions. For example, supplementing some accounts such as 129, 139, 142, 144, 223, 311, 315, 342, 415, 512, 531, 532, … renaming TK 344, adding TK 1534, 1557, ..., some account names has changed, not concern about short-term or long-term account when recording, but only when preparing financial statement.
    • The new accounting system has guidance on balance transfer and retrospective adjustment. The consolidated financial statement is a part of the business accounting system.
    • Splitting dividend based on the consolidated financial statements, and not the parent Company’s financial statements.
    • Some cases of consolidating financial statements have been clearly instructed, especially consolidating of cash flow statement.


    Source from Vietnamese Association of Public Accounting Practice (VICA)