What is the list of annual financial statements of the Vietnam Development Bank? What are the principles of preparation and presentation of the annual financial statements in Vietnam?
- What is the list of annual financial statements of the Vietnam Development Bank?
- What is the list of mid-year financial statements of the Vietnam Development Bank?
- What are the principles of preparation and presentation of the annual financial statements of the Vietnam Development Bank?
- When is the deadline for submitting and disclosing annual consolidated financial statements in Vietnam?
What is the list of annual financial statements of the Vietnam Development Bank?
Pursuant to Point a, Clause 1, Article 4 of Circular No. 14/2023/TT-BTC stipulating as follows:
Financial statements
1. Vietnam Development Bank’s financial statements include annual financial statements and mid-year financial statements.
a) Vietnam Development Bank’s annual financial statements consist of:
- Statement of financial position Form No. B01 - NHPT
- Income statement Form No. B02 - NHPT
- Cash flow statement Form No. B03 - NHPT
- Notes to financial statements Form No. B04 - NHPT
...
2. Forms of financial statements and instructions for preparation and presentation of financial statements of Vietnam Development Bank shall comply with the provisions of Appendix II enclosed herewith.
Thus, the Vietnam Development Bank’s annual financial statements include:
- Statement of financial position according to Form No. B01/NHPT in Appendix II issued together with Circular No. 14/2023/TT-BTC.
- Income statement according to Form No. B02/NHPT in Appendix II issued together with Circular No. 14/2023/TT-BTC
- Cash flow statement according to Form No. B03/NHPT in Appendix II issued together with Circular No. 14/2023/TT-BTC
- Notes to financial statements according to Form No. B04/NHPT in Appendix II issued together with Circular No. 14/2023/TT-BTC.
What is the list of annual financial statements of the Vietnam Development Bank? What are the principles of preparation and presentation of the annual financial statements in Vietnam?
What is the list of mid-year financial statements of the Vietnam Development Bank?
Pursuant to Point b, Clause 1, Article 4 of Circular No. 14/2023/TT-BTC stipulating as follows:
Financial statements
1. Vietnam Development Bank’s financial statements include annual financial statements and mid-year financial statements.
...
b) A full set of Vietnam Development Bank’s mid-year financial statements consists of:
- Mid-year statement of financial position Form No. B01a - NHPT
- Mid-year income statement Form No. B02a - NHPT
- Mid-year cash flow statement Form No. B03a - NHPT
- Selective notes to financial statements Form No. B04a - NHPT
Thus, the list of mid-year financial statements of the Vietnam Development Bank includes:
- Mid-year statement of financial position Form No. B01a - NHPT
- Mid-year income statement Form No. B02a - NHPT
- Mid-year cash flow statement Form No. B03a - NHPT
- Selective notes to financial statements Form No. B04a - NHPT
What are the principles of preparation and presentation of the annual financial statements of the Vietnam Development Bank?
Pursuant to Clause 3, Article 4 of Circular No. 14/2023/TT-BTC stipulating the principles of preparation and presentation of annual financial statements of the Vietnam Development Bank as follows:
- Preparation and presentation of financial statements must comply with accounting standards. Material information must be interpreted to help readers correctly understand the financial position of VDB.
- Financial statements must be based on the economic nature rather than the legal form of transactions and events (i.e. the nature is more important than the form).
- Liabilities shall not be recognized with the lower value than the value of accounts payable.
- Items on the statement of financial position shall be organized in the order of liquidity.
- Items on the income statement shall be organized for each of operations in a manner that ensures the matching between revenues and expenses.
When is the deadline for submitting and disclosing annual consolidated financial statements in Vietnam?
Pursuant to Article 6 of Circular No. 202/2014/TT-BTC stipulating as follows:
Deadline for submission and disclosure of Consolidated Financial Statements in Vietnam
1. The annual consolidated financial statements must be submitted to the owner and the competent State management agencies within 90 days from the end of the annual accounting period and shall be made public within 120 days from the end of the annual accounting period. The parent company which is an entity with public interests in the securities sector must submit the annual and publicized consolidated financial statements in accordance with the law on securities.
2. The interim consolidated financial statements must be submitted to the owners and the competent State management agencies within 45 days from the end of the accounting period. The parent company that is an entity with public interest in the securities sector must submit and disclose its interim financial statements in accordance with the law on securities.
Thus, the annual consolidated financial statements must be submitted to the owner and the competent State management agencies within 90 days from the end of the annual accounting period and disclosed within 120 days from the end of the annual accounting period.
Circular No. 14/2023/TT-BTC takes effect from July 1, 2023.
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