Hanoi-Vietnam: Accounting account system specified in Circular 133/2016/TT-BTC

17:01, 11/07/2024

On August 26, 2016, the Vietnam Ministry of Finance issued Circular 133/2016/TT-BTC guiding the accounting policies for small and medium-sized enterprises.

This Circular provides guidance on accounting policies for small and medium-sized enterprises in all sectors and economic components nationwide, including joint-stock companies, limited liability companies, partnerships, sole proprietorships, and cooperatives in Vietnam.

Circular 133 will come into effect from January 1, 2017, and will replace Decision 48/2006/QD-BTC dated September 30, 2006, with several highlights:

- Renew the approach to policy;

- Emphasize feasibility and practical application in enterprises;

- Separate accounting and taxation, aiming to serve the management and operation needs of enterprises;

- Accounting is not just about debits and credits, needing to separate the technique of recording in accounting books and the technique of presenting financial statements;

- Value substance over form and transaction names;

- Approach closer to international practices and standards such as revenue recognition corresponding to performance obligations, assessment of loan impairment and investment property, classification of trading, and held-to-maturity securities.

Enclosed with Circular 133 is the accounting account system as follows:

No.	ACCOUNT NUMBER		ACCOUNT NAME
	Level 1	Level 2	ACCOUNT NAME
1	111		Cash on hand
		1111	Vietnamese currency
		1112	Foreign Currency
2	112		Cash in bank
		1121	Vietnamese currency
		1122	Foreign Currency
3	121		Trading securities
		1211	Stock
		1212	Bonds
4	128		Held to maturity investments
		1281	Term deposits
		1288	Other held to maturity investments
5	131		Trade receivables
6	133		Deductible VAT
		1331	Deductible VAT on goods and services
		1332	Deductible VAT on fixed assets
7	136		Intra-company receivables
		1361	Working capital provided for affiliated units
		1368	Other intra-company receivables
8	138		Other receivables
		1381	Unresolved asset losses
		1386	Pledges and deposits
		1388	Other receivables
9	141		Advance
10	151		Goods in transit
11	152		Raw materials
12	153		Tools and instruments
13	154		Work in progress
14	155		Finished goods inventory
15	156		Merchandise inventory
16	157		Goods on consignment
17	211		Fixed assets
		2111	Tangible fixed assets
		2112	Finance lease assets
		2113	Intangible fixed assets
18	214		Depreciation of fixed assets
		2141	Depreciation of tangible fixed assets
		2142	Depreciation of finance lease assets
		2143	Depreciation of intangible fixed assets
		2147	Depreciation of investment property
19	217		Investment property
20	228		Capital contributions
21	229		Provision for impairment of assets
		2291	Provision for devaluation of trading securities
		2292	Provision for impairment of investment in other entities
		2293	Allowance for bad debts
		2294	Provision against devaluation of inventory
22	241		Construction in progress
		2411	Fixed assets acquisition
		2412	Capital construction
		2413	Major repairs of fixed assets

23	242		Prepaid expenses
24	331		Trade payables
25	333		Taxes and other payables to the State
		3331 33311 33312	Payable VAT Output VAT VAT on imported goods
		3332	Excise tax
		3333	Import and export tax
		3334	Corporate Income Tax
		3335	Personal Income Tax
		3336	Royalty
		3337	Housing and land tax, land rent
		3338 33381 33382	Environmental protection tax and other taxes Environmental protection tax Other taxes
26	334		Payables to employees
27	335		Accrued expenses
28	336		Intra-company payables
29	338		Other payables
		3381	Assets in surplus pending resolution
		3382	Trade union fees
		3383	Social Insurance
		3384	Health Insurance
		3385	Unemployment Insurance
		3386	Received deposits
		3387	Unearned revenues
		3388	Other payables
30	341		Borrowings and finance lease liabilities
		3411	Loans
		3412	Finance lease liabilities
31	352		Provisions for payables
		3521	Provision for product warranty
		3522	Provision for construction warranty
		3523	Provision for corporate restructuring
		3524	Provision for other payables
32	353		Welfare fund
		3531	Reward Fund
		3532	Welfare Fund
		3533	Welfare fund for creation of fixed assets
		3534	Manager reward fund
33	356		Scientific and technological development fund
		3561	Development of science and technology fund
		3562	Development of science and technology fund
34	411		Paid-in capital
		4111 41111 41112	Capital contribution by owners voting common shares preference shares
		4112	Share premium
		4118	Other capital
35	413		Exchange difference
36	418		Other funds
37	419		Treasury shares
38	421		Undistributed after-tax profit
		4211	Previous years’ after-tax profit
		4212	Current year’s after-tax profit
39	511		Revenue from goods sale and service provision
		5111	Revenue from goods sales:
		5112	Revenue from products
		5113	Revenue from service provision
		5118	Other revenues
40	515		Financial income
41	611		Purchases
42	631		Prime cost
43	632		Cost of goods sold
44	635		Financial expenses
45	642		Administration expenses
		6421	Selling expenses
		6422	Enterprise administration expenses
46	711		Other incomes
47	811		Other expenses
48	821		Corporate income tax
49	911		Business performance

Source: tvtprotrain.edu.v

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