03 accounting entries recording bookkeeping entries of transport and hydraulic infrastructure in Vietnam

According to the Circular No. 76/2019/TT-BTC of the Ministry of Finance of Vietnam, there are 03 accounting entries recording bookkeeping entries of transport and hydraulic infrastructure (hereinafter referred to as transport and hydraulic infrastructure) that the State funds and manages, including:

- Account 216 – Transport and hydraulic infrastructure assets: Reflects the existing value, increases or decreases in all transport and hydraulic infrastructure assets that an entity or unit is authorized to manage and record according to their historical costs.

- Account 218 – Depreciation of transport and hydraulic infrastructure assets: Reflects the existing value of transport and hydraulic infrastructure assets, fluctuations in the depreciated value thereof during their useful life and other causes of increases or decreases in the depreciated value of those assets that accounting units are authorized to manage and account for.

- Account 467- Funding for formation of transport and hydraulic infrastructure assets: Reflects the existing amount of funding for formation of transport and hydraulic infrastructure assets and any fluctuation in these assets.

Besides, this Circular also stipulates that accounting units undertaking accounting for transport and hydraulic infrastructure assets may use the following accounting documents for posting entries of transport and hydraulic infrastructure assets:

- Inventory form (Sample No. C60-HD);

- Depreciation Worksheet (Sample No. C61-HD).

Entities may open books recording and keeping track of transport and hydraulic infrastructure assets (forms, samples or templates and interpretation of contents and methods of preparation of accounting documents stated in clause 1 of this Article shall be regulated in the Appendix 02 hereto).

Note: Entities authorized to manage and account for transport and hydraulic infrastructure assets must report on transport and hydraulic infrastructure assets in accordance with laws on management and use of public property.

View more details at Circular No. 76/2019/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2020.

Thu Ba

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