Stay up to date with the latest information on International Financial Reporting Standards (IFRS). This complete guide provides detailed insights into the 18 IFRS financial reporting standards effective in 2025 to help you apply the regulations correctly.
What is IFRS?
International Financial Reporting Standards (IFRS) are a set of global accounting rules issued by the International Accounting Standards Board (IASB) aimed at establishing a standardized accounting framework. IFRS ensures that financial statements are transparent, comparable, and provide a clear understanding of a company’s financial position.
IFRS is adopted in over 140 countries, including Vietnam. IFRS mainly provides guidance on the general preparation of financial statements rather than industry-specific regulations.
Chuẩn mực báo cáo tài chính quốc tế IFRS
In Vietnam, in addition to IFRS, companies are also required to comply with the Vietnamese Accounting Standards (VAS).
Who Should Apply IFRS?
Entities eligible to apply IFRS include:
● Any enterprise that has the need and capacity to apply IFRS within the timelines specified in the official roadmap
● Enterprises operating in Vietnam and applying VFRS, regardless of sector or economic type
● Small, micro, and medium enterprises that do not require or are not eligible to convert to IFRS are not required to apply IFRS
IFRS Roadmap in Vietnam: What Should FDI Enterprises Do?
According to Decision No. 345/QĐ-BTC by the Ministry of Finance, the roadmap for IFRS adoption in Vietnam is as follows:
Phase | Period | Applicable Entities | Mode of Implementation |
| 1. Voluntary | From 2022 | Enterprises wishing to enhance credibility | Voluntary |
| 2. Mandatory (Phase 1) | 2025 – 2027 | Listed companies, credit institutions, insurance companies | Mandatory |
| 3. Mandatory (Phase 2) | After 2027 | Large enterprises (with charter capital > VND 2,000 billion) | Mandatory |
Note: FDI companies with foreign partners or IPO plans may need to apply IFRS earlier than the mandatory schedule to meet the requirements of parent companies or investors.
18 Latest International Financial Reporting Standards (IFRS)
IFRS is a set of standards and detailed guidelines that regulate how enterprises present and report financial information in a transparent, consistent, and comparable manner.
Below are the 18 updated IFRS standards:
No. | Standard Name (VN) | Standard Name (EN) | Issuance Date |
| IFRS 1 | Lần đầu áp dụng IFRS | First-time Adoption of IFRS | Nov-08 |
| IFRS 2 | Thanh toán trên cơ sở cổ phiếu | Share-based Payment | Feb-04 |
| IFRS 3 | Hợp nhất kinh doanh | Business Combinations | Jan-08 |
| IFRS 5 | Tài sản dài hạn nắm giữ để bán và hoạt động không liên tục | Non-current Assets Held for Sale and Discontinued Operations | Mar-04 |
| IFRS 6 | Thăm dò và đánh giá tài sản tài nguyên khoáng sản | Exploration for and Evaluation of Mineral Resources | Dec-04 |
| IFRS 7 | Công cụ tài chính: Trình bày | Financial Instruments: Disclosures | Aug-05 |
| IFRS 8 | Bộ phận kinh doanh | Operating Segments | Nov-06 |
| IFRS 9 | Công cụ tài chính | Financial Instruments | Nov-09 |
| IFRS 10 | Báo cáo tài chính hợp nhất | Consolidated Financial Statements | May-11 |
| IFRS 11 | Thỏa thuận liên doanh | Joint Arrangements | May-11 |
| IFRS 12 | Thuyết minh về lợi ích trong các đơn vị khác | Disclosure of Interests in Other Entities | May-11 |
| IFRS 13 | Xác định giá trị hợp lý | Fair Value Measurement | May-11 |
| IFRS 14 | Các khoản hoãn lại theo luật định | Regulatory Deferral Accounts | Jan-14 |
| IFRS 15 | Doanh thu từ hợp đồng với khách hàng | Revenue from Contracts with Customers | May-14 |
| IFRS 16 | Thuê tài sản | Leases | Jan-16 |
| IFRS 17 | Hợp đồng bảo hiểm | Insurance Contracts | May-17 |
| IFRS 18 | Trình bày và Thuyết minh Báo cáo tài chính | Presentation and Disclosures in Financial Statements | Apr-24 |
| IFRS 19 | Thuyết minh thông tin đối với công ty con không có trách nhiệm công chúng | Subsidiaries without Public Accountability: Disclosures | Apr-24 |
24 International Accounting Standards (IAS)
The International Accounting Standards (IAS) are a system of regulations and guidelines that include standards, principles, and frameworks governing accounting methods.
Standard | Vietnamese Name | English Name | Issuance Date |
| IAS 1 | Trình bày báo cáo tài chính | Presentation of Financial Statements | Sep-07 |
| IAS 2 | Hàng tồn kho | Inventories | Dec-03 |
| IAS 7 | Báo cáo lưu chuyển tiền tệ | Statement of Cash Flows | Dec-92 |
| IAS 8 | Chính sách kế toán, thay đổi ước tính và sai sót | Accounting Policies, Changes in Accounting Estimates and Errors | Dec-03 |
| IAS 10 | Sự kiện phát sinh sau kỳ kế toán | Events After the Reporting Period | Dec-03 |
| IAS 12 | Thuế thu nhập doanh nghiệp | Income Taxes | Dec-10 |
| IAS 16 | Bất động sản, nhà xưởng và thiết bị | Property, Plant and Equipment | Dec-03 |
| IAS 19 | Lợi ích người lao động | Employee Benefits | Jun-11 |
| IAS 20 | Trợ cấp chính phủ và trình bày hỗ trợ của chính phủ | Accounting for Government Grants and Disclosure of Government Assistance | Apr-83 |
| IAS 21 | Ảnh hưởng thay đổi tỷ giá hối đoái | The Effects of Changes in Foreign Exchange Rates | Dec-03 |
| IAS 23 | Chi phí đi vay | Borrowing Costs | Mar-07 |
| IAS 24 | Trình bày các bên liên quan | Related Party Disclosures | Nov-09 |
| IAS 26 | Kế toán lợi ích hưu trí | Accounting and Reporting by Retirement Benefit Plans | Jan-87 |
| IAS 27 | Báo cáo tài chính riêng | Separate Financial Statements | Dec-03 |
| IAS 28 | Đầu tư vào công ty liên kết và liên doanh | Investments in Associates and Joint Ventures | Dec-03 |
| IAS 29 | Báo cáo tài chính trong nền kinh tế siêu lạm phát | Financial Reporting in Hyperinflationary Economies | Jul-89 |
| IAS 32 | Công cụ tài chính: Trình bày | Financial Instruments: Presentation | Dec-03 |
| IAS 33 | Lãi trên cổ phiếu | Earnings Per Share | Dec-03 |
| IAS 34 | Báo cáo tài chính giữa niên độ | Interim Financial Reporting | Dec-98 |
| IAS 36 | Tổn thất tài sản | Impairment of Assets | Mar-04 |
| IAS 37 | Dự phòng, nợ tiềm tàng và tài sản tiềm tàng | Provisions, Contingent Liabilities and Contingent Assets | Sep-98 |
| IAS 38 | Tài sản cố định vô hình | Intangible Assets | Mar-04 |
| IAS 40 | Bất động sản đầu tư | Investment Property | Dec-03 |
| IAS 41 | Nông nghiệp | Agriculture | Feb-01 |
IFRS vs. IAS: Key Differences
So sánh chuẩn mực IFRS và IAS
The key differences between International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) include:
Category | IFRS | IAS |
| Full Name | International Financial Reporting Standards | International Accounting Standards |
| Issuance Period | Issued after 2001 | Issued between 1973 and 2001 |
| Issuing Body | International Accounting Standards Board (IASB) | International Accounting Standards Committee (IASC) |
| Recognition and Disclosure of Long-term Assets Held for Sale | Defined and guided | There are no rules regarding the recognition, measurement, presentation, and disclosure of non-current assets held for sale. |
| The number of standards (as of the present time, since they are regularly updated) | 16 standards (IFRS 4 updated and replaced by IFRS 17) | Includes 41 standards, which are gradually being amended; currently, 23 standards remain in effect. |
| Revisions | The principles considered during amendments include | The principles to be eliminated during the amendment process include |
| Rules on the recognition, measurement, presentation, and disclosure of non-current assets held for sale | Yes | No |
| The number of standards (as of the present time) | 16 standards (IFRS 4 has been updated and replaced by other IFRS standards) | 41 standards (Currently, 23 standards are still in effect) |
Professional IFRS Advisory: How to Apply IFRS Correctly?
If you are seeking a professional service provider for IFRS advisory, implementation, and compliance, contact KMC – a tax and accounting consulting firm specializing in supporting foreign-invested enterprises, especially Japanese companies operating or planning to operate in Vietnam.
- With experience advising thousands of companies, KMC understands the unique challenges, including:
Language barriers in interpreting complex standards - Cultural differences in financial management
- Requirements for parallel reporting to overseas boards
KMC provides expert guidance and optimal solutions for IFRS compliance, including:
- Specialists proficient in both IFRS and Vietnamese regulations
- Trilingual advisory team (Japanese – English – Vietnamese)
- Automated IFRS conversion software
- Up to 40% cost savings compared to Big4 firms
Prepare your business for investment and growth in Vietnam with guidance from leading tax and accounting experts. Contact us now at +84 91 988 9331 for consultation.
View more:
Optimal Cash Management Strategies for FDI Enterprises: From Theory to Practical Application
