06 accounting methods for certain main economic transactions of Account 152 in Vietnam

06 accounting methods for certain main economic transactions of Account 152 in Vietnam​ (illustrative image)

Circular 177/2015/TT-BTC stipulates the addition of 06 accounting methods for key economic transactions of Account 152 - Raw materials, as follows:

1. When purchasing raw materials and entering them into inventory, based on the invoice, goods receipt note, and relevant documents reflecting the value of raw materials received:

• Debit Account 152 - Raw materials (total payment amount)
• Credit Accounts 111, 112, 141, 331,... (total payment amount).

2. Costs associated with purchasing, loading, and transporting raw materials from the place of purchase to the unit's warehouse should be recorded as:

• Debit Account 152 - Raw materials
• Credit Accounts 111, 112, 141, 331,...

3. When issuing raw materials for the unit's insurance operations:

• Debit Account 631 - Insurance operation expenses
• Credit Account 152 - Raw materials.

4. When issuing raw materials for the unit's management activities:

• Debit Account 642 - Business management expenses
• Credit Account 152 - Raw materials.

5. When issuing raw materials for project activities:

• Debit Account 161 - Project expenses
• Credit Account 152 - Raw materials.

6. When issuing raw materials for basic construction investment activities or major repairs of fixed assets:

• Debit Account 241 - Construction in progress
• Credit Account 152 - Raw materials.

Details can be found in Circular 177/2015/TT-BTC, effective from January 01, 2016.

Ty Na

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