Unit of calculation used in accounting in Vietnam

Unit of calculation used in accounting in Vietnam is specified at Accounting Law 2015 and Decree 174/2016/ND-CP as follows:

Unit of calculation used in accounting in Vietnam (Source: internet)

* An accounting currency is:

- The accounting currency is Vietnam dong; its Vietnamese symbol is “đ” and international symbol is "VND”.

Where an economic/financial transaction in a foreign currency occurs, 

The accounting unit must record the foreign currency and VND at the actual exchange rate, unless otherwise prescribed by law

Plus, if there is not exchange rate between the foreign currency and VND, it shall be exchanged into another foreign currency that has an exchange rate with VND.

- An accounting unit whose most revenues and expenditures are in a foreign currency may use such foreign currency as the accounting currency and has to take legal responsibility for such action and notify its supervisory tax authority.

When making a financial statement which is used in Vietnam, the accounting unit must convert the foreign currency into VND at the actual exchange rate, unless otherwise prescribed by law.

* Accounting units of kind and labor time are:

- Items and working hours used as units for accounting are legal units of measurement of Socialist Republic of Vietnam;

- Where an accounting unit uses another unit of measurement, it must be converted into a legal unit of Socialist Republic of Vietnam.

- Unit of products and working time in accounting include tonne, quintal (100 kilograms), kilogram, square meter, cube meter, working day, working hour and other units of measurement defined by measurement laws.

- Accounting units are allowed to round numbers, use abbreviated units when making or publishing their financial statements.

(Article 10 Law on Accounting 2015, Article 4 Decree 174/2016/ND-CP)

Diem My


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