Regulations on Accounting Accounts for the "Fund for the Poor"

10:43, 11/07/2024

Circular 103/2018/TT-BTC was issued by the Ministry of Finance on November 14, 2018, specifically stipulating the accounting accounts for the "For the Poor" Fund.

Accordingly, Circular 103 stipulates that accounting accounts are used to classify and systematize economic and financial transactions according to their economic content.

The accounting system of the "Because the Poor" Fund includes on-balance-sheet accounts and off-balance-sheet accounts. Specifically:

- On-balance-sheet accounts reflect all economic and financial transactions arising, including assets, capital sources, fund receipts, fund activity expenditures, and surplus (deficit) at the "Because the Poor" Fund during the accounting period. On-balance-sheet accounts are double-entry accounts (recording journal entries between accounts).- Off-balance-sheet accounts reflect economic indicators that have already been recorded in on-balance-sheet accounts but need to be tracked to serve management requirements, such as donated goods, sponsorships, aid, and various currencies. Off-balance-sheet accounts are single-entry accounts (not recording journal entries between accounts).- The method of recording accounting accounts.

See details in Circular 103/2018/TT-BTC effective from January 1, 2019.

-Thao Uyen-

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