Hanoi-Vietnam: Accounts with balances to be carried forward

The enterprise in Vietnam is allowed to carry forward the balances of the following accounts:

- $gold, silver, valuable metals and gemstones in Accounts 1113 and 1123 shall be transferred to:

+ Account 152 (Inventory),

+ Account 155 (Finished products),

+ Account 156 (for those classified as inventory) and

+ Account 2288 (for those not classified as inventory).

- Bonds, treasury bills, exchange bills held to maturity and/or not held for trading in Account 121 (Short-term financial investments) shall be transferred to Account 128 (Held to maturity investments) (1288);

- The balance of Account 142 (Short-term prepaid expenses) shall be transferred to Account 242 (Prepaid expenses);

- Short-term deposits in Account 1388 and Account 244 (Long-term deposits) shall be transferred to Account 1386 (Pledges and deposits);

- The provisions in Account 159 and Account 229 shall be transferred to Account 229 (Provision against impairment of assets;

- The balance of Account 311, Account 315, Account 3411 and Account 3412 shall be transferred to Account 341 (Borrowings and finance lease liabilities);

- Account 3414 shall be transferred to Account 3386.

- Accrued expenses for repair and maintenance of fixed assets (if required), environmental costs, relocation costs and similar amounts reflected by Account 335 (Expenses payable) shall be transferred to Account 352 (Provisions for payables (sub-account 3524).

Circular 133/2016/TT-BTC stipulates that other content currently recorded in related accounts must be adjusted in accordance with this Circular if it contradicts the provisions herein.

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