Inventory of Assets in State Treasury Units

18:42, 11/07/2024

According to the guidance provided in Circular 77/2017/TT-BTC, asset inventory involves weighing, measuring, counting quantities; verifying and evaluating the quality and value of assets and the existing capital at the time of inventory to check and compare with the figures in the accounting books.

The KBNN units must inventory assets in the following cases:

- At the end of the accounting period month, year;- Division, separation, merger, consolidation, dissolution, termination of activities;- Occurrence of fire, flood, natural disaster causing asset damage and other unusual damages affecting the asset fluctuations;- Revaluation of assets as decided by the competent state agency;- Other cases as prescribed by law.

After inventorying assets, the KBNN unit must prepare a summary report of the inventory results. In case of discrepancies between the actual inventory figures and the figures recorded in the accounting books, the causes must be identified and the differences and the resolution results must be reflected in the accounting books before preparing the financial report.

The inventory must accurately reflect the actual assets, the sources of asset formation at the unit; the person preparing and signing the summary report of the inventory results must be responsible for the inventory results at their unit.

See more: Circular 77/2017/TT-BTC effective from September 12, 2017.

- Nguyen Trinh -

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