VCN - The Ministry of Finance has just issued Circular No. 107/2017 / TT-BTC guiding the administrative and non-business accounting regime.
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Accordingly, public non-business units who cover their recurrent expenditures and capital expenditures are permitted to apply the business accounting regime. If these units carry out the State’s orders or receive non-refundable foreign aids or have deductible fund or reserve fund, they have to make a final settlement report.
For accounting documents, administrative units and public non-business units must use the same forms of mandatory accounting documents prescribed in this Circular. The units are forbidden to modify the forms of the mandatory types.
Apart from mandatory accounting documents, administrative units and public non-business units may themselves design other documents to reflect the arising economic operations. Self-designed forms must satisfy at least 7 contents specified in Article 16 of the Accounting Law.
Regarding accounting book, the units must open this book to record, synthetize and save all arising economic and financial operations related to the accounting units. if the units receive and use the allocated State budget; foreign aid and loans; deductible fund or reserve fund , they must open a private accounting book to follow.
Each accounting unit shall use a private system of accounting books for an annual accounting period, including general accounting books and detailed accounting books. Depending on the accounting type that the unit applies, the unit shall have to open a general accounting books and detail accounting books and fully comply with the contents, order and recording method of each type.
The budget accounting books, deductible fees are presented in detail according to the state budget index. Accounting books shall monitor the receipt and use of foreign aid and loans presented in detail according to the state budget index, which is a basis for making final settlement reports according to the provisions of this Circular and at the requests of the sponsors.
Accounting books must be opened at the beginning of the annual accounting period or immediately after the decision on establishment and operation of the accounting unit is issued. Accounting books shall be opened at the beginning of the new fiscal year to transfer the balances from the previous accounting books to the new ones and write new economic and financial operations arising in the new year from 1 January of the new fiscal year.
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Data on accounting books on receipt and use of state budget after 31 December is transferred from this year's account to the account of the next year’s account in order to continue monitoring data arising in the period of settlement adjustment, to make final settlement report of the State budget according to regulations. In addition, the unit also opened more detailed accounting books according to its own management requirements.
The above provisions will apply from 1 November 2018.
By Hong Van/ Huyen Trang