Vietnam: List of words that are allowed to be abbreviated on accounting records

DOWNLOAD List of words that are allowed to be abbreviated on accounting records

In fact, in the process of making and using accounting records, not all cases the makers are entitled to abbreviate the information on these records but only in certain cases.

Specifically, according to Point b Clause 2 Article 16 of Circular No. 39/2014/TT-BTC and Point b Clause 7 Article 3 of Circular No. 26/2015/TT-BTC of the Ministry of Finance of Vietnam, if the name or address of the buyer is too long, the seller may shorten some common nouns as long as the house number, names of the street, ward, district, city, name of the company are written and conformable with business registration or tax registration of the company, in particular:

- P instead of Phường (ward);

- Q instead of Quận (district);

- TP instead of Thành Phố (city);

- VN instead of Việt Nam (Vietnam);

- CP instead of Cổ Phần (Joint Stock);

- TNHH instead of Trách nhiệm Hữu hạn (Limited Liability);

- KCN instead of Khu Công Nghiệp (industrial area);

- SX instead of Sản Xuất (Product);

- CN instead of Chi Nhánh (Branch);

- etc.

Economic/financial transactions on accounting records must not be abbreviated, erased, changed; Text must be written by pen; digits and letters must be written continuously without interruption; blank spaces must be crossed out. 

Accounting records that are changed are not valid for payment and recording in accounting books. Every incorrect accounting record must be crossed out.

Legal bases:

 ♦ Law on Accounting 2015 of Vietnam;

 ♦ Circular No. 39/2014/TT-BTC of the Ministry of Finance of Vietnam;

 ♦ Circular No. 26/2015/TT-BTC of the Ministry of Finance of Vietnam.

- Nguyen Trinh -

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE