Management of Revenue and Expenses of VAMC

20:24, 11/07/2024

This is one of the fundamental contents stipulated in Circular 01/2017/TT-BTC guiding financial policies for the Asset Management Company of Vietnamese credit institutions issued on January 05, 2017. To be specific:

The VAMC Members' Council is responsible to the State Bank of Vietnam and before the law for organizing strict management, ensuring the correctness, honesty, and legality of VAMC's revenues and expenses.
All revenues and expenses arising from VAMC's operations must have full documentation and vouchers as prescribed by law and must be fully reflected in VAMC's accounting books.
VAMC's revenues and expenses are determined in Vietnamese Dong. In cases of revenue or expenses in foreign currency, they must be converted to Vietnamese Dong in accordance with current legal regulations.
The recognition of revenues and expenses by VAMC must comply with the principle of matching between revenues and expenses.

Circular 01/2017/TT-BTC effective February 21, 2017.

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