Standards for Identifying Tangible Fixed Assets under the Ministry of National Defense

04:41, 11/07/2024

On January 29, 2019, the Ministry of National Defense issued Circular 13/2019/TT-BQP stipulating and providing guidance on policies for the management, depreciation, and amortization of fixed assets and policies for reporting fixed assets, which are specialized assets and assets serving the management tasks in units under the Ministry of National Defense.

According to the provisions of Circular 13/2019/TT-BQP, the identification of fixed assets within the Ministry of National Defense is based on the following criteria:

For tangible fixed assets

Tangible fixed assets are those with a physical form, having an independent structure or a system comprising multiple individual components linked together to perform one or several specific functions, simultaneously satisfying the following two criteria:

- Have a useful life of 01 year or more;- Have an original cost of 10,000,000 VND or more.

For intangible fixed assets

Intangible fixed assets are those without a physical form that the unit is assigned by higher authorities to manage and use, or for which investment costs were spent to create the asset, satisfying both of the above criteria.

Refer to the related regulations in Circular 13/2019/TT-BQP effective from March 18, 2019.

- Thanh Lam -

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