Who is Responsible for Preparing Financial Statements for National Reserve Operations?

14:02, 11/07/2024

The Ministry of Finance recently issued Circular 108/2018/TT-BTC providing guidance on national reserve accounting.

According to the provisions of Circular 108, the preparation of financial statements for national reserve activities is the responsibility of the following entities:

Basic Accounting Units

- Basic accounting units within the national reserve system.- Basic accounting units under Ministries and departments assigned the management of national reserve capital and goods.

Superior Accounting Units

- Regional State Reserve Departments prepare financial statements for national reserve activities consolidated from the financial statement data of the Sub-departments of State Reserves.- The General Department of State Reserves prepares consolidated financial statements from the financial statement data of the Regional State Reserve Departments and relevant Ministries and departments.- Ministries and departments assigned the management of national reserve capital and goods prepare consolidated financial statements for national reserve activities from the financial statement data of their subordinate accounting units.

Refer to the method of preparing reports in Circular 108/2018/TT-BTC, effective from January 1, 2019.

- Thanh Lam -

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