Vietnam: Principles to manage fixed assets in enterprises

16:54, 29/04/2013

This content is stipulated in Circular No. 45/2013/TT-BTC issued by the Ministry of Finance of Vietnam guiding the management, use and depreciation of fixed assets.

According to Article 5 of the Circular No. 45/2013/TT-BTC of the Ministry of Finance of Vietnam, principles to manage fixed assets are as follows:

First: All fixed assets in an enterprise must have a separate record, including:

- Record of delivery of fixed assets;

- Contracts;

- Invoices of purchase of fixed assets;

- Other related papers.

Each fixed asset must be classified, numbered with its own card, monitored in detail and reflected in the monitoring book of fixed assets.

Second: Each fixed asset must be managed by its primary price, accumulated depreciation and residual value in accounting books

Residual value in accounting books of fixed assets

Primary price of fixed assets

Accumulated depreciation of fixed assets

Third: For fixed assets without need of use awaiting disposal, but not fully depreciated, the enterprises have to manage, monitor and preserve under current regulations and depreciation under the provisions of this Circular.

Fourth: The enterprises must manage for fixed assets fully depreciated but still involved in business activities as normal fixed assets.

View more details at Circular No. 45/2013/TT-BTC of the Ministry of Finance of Vietnam, effective from June 10, 2013.

Thu Ba

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