Vietnam: Structure and contents of account 111 – Cash

According to Circular No. 200/2014/TT-BTC of the Ministry of Finance of Vietnam, structure and contents of account 111 – Cash are specified as follows:

Debit:

- Received cash, foreign currency or monetary gold;

- Cash, foreign currency or monetary gold in excess detected under verification;

- Exchange differences due to re-evaluation of foreign currency balance at the reporting time (if foreign currency rate rises against VND);

- Differences due to re-evaluation of monetary gold at the reporting time.

Credit:

- Dispatched cash, foreign currency or monetary gold;

- Cash, foreign currency or monetary gold in deficit detected under verification;

- Exchange rate differences due to re-evaluation of foreign currency balance at the reporting time (if foreign currency rate falls against VND);

- Differences due to re-evaluation of monetary gold at the reporting time.

Debit balance: Inventoried cash, foreign currency or monetary gold at the reporting time.

Concurrently, according to Circular No. 200/2014/TT-BTC, Account 111 – Cash, comprises 3 sub-accounts, specifically as follows:

- Account 1111 – VND: reflecting revenues, expenses, balance in VND of the cash fund.

- Account 1112 – Foreign currencies: reflecting revenues, expenses, exchange rate differences and foreign currency balance of cash fund which is converted into VND.

- Account 1113 – Monetary gold reflecting the fluctuation and value of monetary gold of the enterprise’s fund.

View more details at Circular No. 200/2014/TT-BTC of the Ministry of Finance of Vietnam, effective from February 05, 2015.

-Thao Uyen-

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