What is the chart of accounts for the Vietnam Development Bank? When will the Vietnam Development Bank be allowed to open level-2 subaccounts?
The chart of accounts for the Vietnam Development Bank
Pursuant to Clause 1, Article 3 of Circular 14/2023/TT-NHNN stipulates the accounting system accounts as follows:
Regulations on Accounting Accounts
1. The chart of accounts and the content, structure, and recording method of some specific accounting accounts of the Vietnam Development Bank (VDB) shall be implemented according to the guidelines in Appendix I issued together with this Circular.
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The chart of accounts and the content, structure, and recording method of some specific accounting accounts of VDB shall be implemented according to the guidelines in Appendix I issued together with Circular 14/2023/TT-BTC including:
See the full chart of accounts for the Vietnam Development Bank here: download
chart of accounts for the Vietnam Development Bank? When will the Vietnam Development Bank be allowed to open level-2 subaccounts?
When will the Vietnam Development Bank be allowed to open level-2 subaccounts?
Pursuant to Clause 2, Article 3 of Circular 14/2023/TT-BTC stipulates this content as follows:
Regulations on Accounting Accounts
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2. VDB is allowed to open level-2 subaccounts for those accounts that do not have level 2 or level 3 accounts stipulated, to serve management requirements.
As such, the Vietnam Development Bank is allowed to open level-2 subaccounts for those accounts that do not have level 2 or level 3 accounts stipulated, to serve management requirements.
What can the Vietnam Development Bank modify in the chart of accounts?
Pursuant to Clause 3, Article 3 of Circular 14/2023/TT-BTC stipulates this content as follows:
VDB is allowed to apply the accounting system issued according to Decision 479/2004/QD-NHNN and the amendments and supplements to Decision 479/2004/QD-NHNN with the following modifications:
Modifications to the names of some accounts in the accounting system account list applied to VDB are as follows:
- Rename level I account “10- Cash, Valuable Papers, Foreign Currency, Precious Metals, Gemstones” to “10- Cash, Valuable Papers, Foreign Currency”;
- Rename level II account “387- Assets Replacing the Obligation Performance of the Securing Party that has Transferred Ownership to the Credit Institution pending Disposal” to “387- Secured Assets Received in Place of Obligation Performance of the Securing Party that has Transferred Ownership to VDB pending Disposal”;
- Rename level I account “43- Credit Institutions Issuing Valuable Papers” to “43- VDB Issuing Valuable Papers”;
- Rename level II accounts “462- Payables to Staff, Employees of Credit Institutions” to “462- Payables to Staff, Employees of VDB; “466- Payables from Internal Transactions of the Credit Institution System” to “466- Payables from Internal Transactions of the VDB System”;
- Rename level III account “4844- Executive Management Bonus Fund” to “4844- Managers, Supervisory Board Bonus Fund”;
- Rename level I account “60- Capital of Credit Institutions” to “60- Capital of VDB”;
- Rename level I account “61- Fund of Credit Institutions” to “61- Fund of VDB”;
- Rename level I account “69- Undistributed Profits” to “69- Undistributed Operational Results”;
- Rename level I account “70- Income from Credit Activities” to “70- Income from Operational Activities”;
- Rename level I account “80- Expenses from Credit Activities” to “80- Expenses from Operational Activities”;
- Rename level II accounts “856- Meal Allowances for Staff and Employees of Credit Institutions” to “856- Meal Allowances for Staff and Employees of VDB”; “857- Health Expenses for Staff and Employees of Credit Institutions” to “857- Health Expenses for Staff and Employees of VDB”; “859- Other Expenses for Staff and Employees of Credit Institutions” to “859- Other Expenses for Staff and Employees of VDB”;
- Rename level II account “868- Expenses for the Mass Activities of Credit Institutions” to “868- Expenses for the Mass Activities of VDB”;
- Rename level III account “8695- Costs for Auditing, Inspection, and Examination of Credit Institutions’ Activities” to “8695- Costs for Auditing, Inspection, and Examination of VDB Activities”;
- Rename level I account “88- Provisions, Preservation and Deposit Insurance Costs” to “88- Provisions Costs”;
- Rename level I account “96- Valuable Papers Issued by Credit Institutions” to “96- Valuable Papers Issued by VDB”;
- Rename level II account “998- Assets, Valuable Papers Collateralized, Pledged by Credit Institutions” to “998- Assets, Valuable Papers Collateralized, Pledged by VDB”.
The accounting principles, structure, and content reflection of the renamed accounts under point a of this clause shall be implemented according to the guidelines in Decision 479/2004/QD-NHNN and the amendments and supplements to Decision 479/2004/QD-NHNN.
Circular 14/2023/TT-NHNN will take effect from July 1, 2023
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