Guidance for Agricultural Cooperatives on Converting Balances of Accounting Accounts

09:51, 11/07/2024

According to the guidelines in Circular 24/2017/TT-BTC, agricultural, forestry, fishery, and salt production cooperatives (HTX) that apply accounting policies in accordance with the provisions of Circular 24/2010/TT-BTC should implement the conversion of account balances on accounting books as follows:

- Short-term deposits currently reflected in the detailed account TK 121- Short-term financial investment and long-term deposits currently reflected in the detailed account TK 2218- Other long-term financial investment: Transfer to TK 1211- Term deposits;- Balances of receivables on loan principals currently reflected in the detailed accounts of TK 122- Loans to members (TK 1221, 1222, 1223): Transfer to TK 13211- Receivables on loan principals;- Balance of TK 142- Short-term prepaid expenses, balance of TK 242- Long-term prepaid expenses: Transfer to TK 2421- Prepaid expenses.

Circulation 24/2017/TT-BTC is effective for the fiscal year starting on or after January 1, 2018, replacing the applicable contents for HTX in:

- Decision 48/2006/QD-BTC dated September 14, 2006;- Circular 138/2011/TT-BTC dated October 4, 2011;- Circular 24/2010/TT-BTC dated February 23, 2010.

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