Circular No. 89/2019/TT-BTC dated December 26, 2019 of the Minister of Finance on accounting guidance applicable to Vietnam Securities Depository

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ATTRIBUTE

Circular No. 89/2019/TT-BTC dated December 26, 2019 of the Minister of Finance on accounting guidance applicable to Vietnam Securities Depository
Issuing body: Ministry of FinanceEffective date:
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Official number:89/2019/TT-BTCSigner:Do Hoang Anh Tuan
Type:CircularExpiry date:Updating
Issuing date:26/12/2019Effect status:
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Fields:Accounting - Audit , Securities

SUMMARY

2 types of financial statement of Vietnam Securities Depository

On December 26, 2019, the Minister of Finance promulgates the Circular No. 89/2019/TT-BTC on accounting guidance applicable to Vietnam Securities Depository.

Accordingly, Vietnam Securities Depository (VSD)'s financial statement system includes annual financial statements and interim financial statements. VSD’s annual financial statements, include 04 statements: Statements on business results; Statements on cash flows; Notes to the financial statements and Statements on financial status.

Similar to annual financial statement, interim financial statements also include 04 following statements: Interim statements on financial status; Interim statements on business results; Interim statements on cash flows and Selected notes to the financial statements.

Above financial statements shall be presented as printed documents or electronic documents based on the actual conditions and requirements of the statement receivers.

This Circular takes effect on February 10, 2020.

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Effect status: Known

THE MINISTRY OF FINANCE
-------------------

No. 89/2019/TT-BTC

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom – Happiness

------------------------

Hanoi, December 26, 2019


CIRCULAR

On accounting guidance applicable to the Vietnam Securities Depository

 

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

Pursuant to the Law on Securities No. 70/2006/QH11 dated June 29, 2006 and the Law No. 62/20/02/QH12 amending and supplementing a number of Articles of the Law on Securities dated November 24, 2010;

Pursuant to the Government’s Decree No. 174/2016/ND-CP dated December 30, 2016 detailing a number of Articles of the Law on Accounting;

Pursuant to the Government's Decree No. 58/2012/ND-CP dated July 20, 2012 detailing and guiding the implementation of a number of Articles the Law on Securities and the Law amending and supplementing a number of Articles of the Law on Securities;

Pursuant to the Government's Decree No. 60/2015/ND-CP dated June 26, 2015, amending and supplementing a number of Articles of the Government's Decree No. 58/2012/ND-CP dated July 20, 2012 detailing and guiding the implementation of a number of Articles of the Law on Securities and the Law amending and supplementing a number of Articles of the Law on Securities;

Pursuant to the Government's Decree No. 122/2017/ND-CP dated November 13, 2017 on financial management and performance assessment of lottery enterprises, stock exchanges and Vietnam Securities Depository;

Pursuant to the Government's Decree No. 42/2015/ND-CP dated May 05, 2015 on derivatives and derivatives market;

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

At the proposal of the Director of the Department of Accounting and Auditing Regulations;

The Minister of Finance promulgates the Circular on accounting guidance applicable to Vietnam Securities Depository. 

 

Chapter I
GENERAL PROVISIONS

Article 1. Scope of regulation

1. This Circular provides for accounting accounts and financial statements applicable to Vietnam Securities Depository;

2. This Circular does not apply to the determination of the Vietnam Securities Depository’s tax obligations to the State budget;

3. For the contents which are not provided in this Circular, Vietnam Securities Depository Center shall comply with the Vietnamese Accounting Standards; the Circulars guiding the implementation of accounting standards; the enterprise accounting regime specified together with the Ministry of Finance’s Circular No. 200/2014/TT-BTC dated December 22, 2014 and the Circulars guiding the amendment and supplement of the enterprise accounting regime (if any).

Article 2. Subjects of application

This Circular gives accounting guidance applicable to Vietnam Securities Depository (hereinafter shortly referred to as VSD).

Chapter II
SPECIFIC PROVISIONS

Article 3. Provisions on accounting accounts

1. The list of accounting accounts, contents, structure and methods of recording a number of specific accounting accounts of VSD shall comply with the guidance in Appendix No. 01 issued together with this Circular.

2. In case VSD needs to supplement or amend Type 1 or Type 2 accounts specified in this Circular in terms of names, symbols, contents and methods of accounting economic operations peculiar arising, it shall be approved in writing by the Ministry of Finance prior to its implementation.

3. VSD shall open other Type 2 or higher-level accounts in addition to its existing accounts which are not specified as Type 2 or Type 3 in service of VSD's management requirements without the Ministry of Finance's prior approval.

Article 4. Provisions on financial statements

1. VSD's financial statement system includes annual financial statements and interim financial statements. 

a) VSD’s annual financial statements, including:

- Statements on financial status

Form No. B 01 - VSD

- Statements on business results

Form No. B 02 - VSD

- Statements on cash flows

Form No. B 03 - VSD

- Notes to the financial statements

Form No. B 09 - VSD

b) VSD’s interim financial statements (full), including:

- Interim statements on financial status

Form No. B 01 a - VSD

- Interim statements on business results

Form No. B 02 a - VSD

- Interim statements on cash flows

Form No. B 03 a - VSD

- Selected notes to the financial statements

Form No. B 09 a - VSD

2. The VSD shall follow the forms of financial statements and guidelines on preparation and presentation of indicators in the financial statements as specified in Appendix No. 02 issued herewith.

 3. Methods of submitting and receiving financial statements

Financial statements shall be presented as printed documents or electronic documents based on the actual conditions and requirements of the statement receivers.

Chapter III
ORGANIZATION OF IMPLEMENTATION

Article 5. Conversion of balances on accounting books

1. VSD shall perform the conversion of balance on the accounting books in accordance with the provisions of this Circular.

2. Other contents which are reflected in detail on relevant accounts, if contrary to this Circular, shall be readjusted according to the provisions of this Circular.

Article 6. Retrospective provision

VSD shall restate the information related to the indicators on the financial statements that have been changed in comparison between this Circular and VSD's accounting regime specified in the Minister of Finance’s Circular 152/2010/TT-BTC dated September 28, 2010 and explain the reasons for the change in accordance with this Circular.

Article 7. Effect and organization of implementation

1. This Circular takes effect as from February 10, 2020 and begins being applicable to the fiscal year of 2020. This Circular replaces the Minister of Finance’s Circular No. 152/2010/TT-BTC dated September 28, 2010 on accounting guidance applicable to VSD.

2. Director of Department of Accounting and Auditing Regulations; Chairperson of the Board of Directors, General Director of VSD and the heads of related units shall be responsible for the implementation of this Circular.

3. In the course of implementation, if any problems arise, they should be reported to the Ministry of Finance for consideration and settlement./.

For the Minister

The Deputy Minister

Do Hoang Anh Tuan

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