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MINISTRY OF
FINANCE
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SOCIALIST
REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No.:
79/2019/TT-BTC
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Hanoi, November
14, 2019
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CIRCULAR
ACCOUNTING
INSTRUCTIONS FOR PUBLIC INVESTMENT PROJECT MANAGEMENT BOARDS
Pursuant to the Law on Accounting dated November
20, 2015;
Pursuant to the Law on Public Investment dated
June 13, 2019;
Pursuant to the Government’s Decree No.
59/2015/ND-CP dated June 18, 2015 on Construction Project Management;
Pursuant to the Government’s Decree No.
174/2016/ND-CP dated December 30, 2016 on elaboration of some Articles of the
Law on Accounting;
Pursuant to the Government’s Decree
No.25/2017/ND-CP dated March 14, 2017 on state financial statements;
Pursuant to the Government’s Decree No.
42/2017/ND-CP dated April 05, 2017 on amendments to the Government’s Decree No.
59/2015/ND-CP dated June 18, 2015 on Construction Project Management;
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At the request of the Director of Accounting and
Audit Management and Supervision Department;
The Minister of Finance hereby promulgates the
Circular providing accounting instructions for public investment project
management boards.
Chapter I
GENERAL PROVISIONS
Article 1. Scope
This Circular shall set out regulations on
accounting vouchers, chart of accounts, accounting books, financial statements
and budget statements used by public investment project management boards
(hereinafter referred to as “accounting units”) for recording economic
transactions related to the management of investment projects and other
activities performed by project owners and project management boards as
assigned by competent authorities.
Article 2. Regulated entities
1. This Circular applies to:
a) Specialized or regional project management
boards that are established by Ministers, heads of ministerial agencies or
Chairpersons of provincial- or district-level People’s Committees and
single-project management boards as defined in existing regulations on
construction project management (except project management boards which are
members of enterprises);
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2. In case the project owner is a public service
unit that does not establish a separate project management board, accounting
works shall be done using the accounting books of that public service unit
according to accounting instructions for public service units in the Circular
No. 107/2017/TT-BTC dated October 10, 2017 of the Ministry of Finance. Where
necessary, accounts and relevant instructions herein may be also used for
recording transactions related to the management of investment project.
Chapter II
SPECIFIC PROVISIONS
Article 3. Accounting vouchers
1. Accounting vouchers are documents and storage
devices that contain economic/financial transactions that occur and have been
completed and shall be used as the basis for making accounting books.
2. Accounting units are required to use same forms
of compulsory accounting vouchers as prescribed herein. Accounting units are
not allowed to modify the prescribed forms of accounting vouchers during the
performance of accounting works.
3. Printed accounting vouchers must be carefully
stored and protected from damage or rot. Cheques, receipts and financial
instruments must be managed as if cash.
4. The list, forms and methods of making compulsory
accounting vouchers are provided in the Appendix 01 “The system of compulsory
accounting vouchers" enclosed herewith. With regard to economic
transactions for which accounting vouchers are not available in Appendix 01,
accounting units shall themselves make accounting vouchers which must contain
at least 07 contents of an accounting voucher prescribed in Article 16 of the
Law on Accounting 2015.
Article 4. Accounts
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2. Chart of accounts and bookkeeping requirements:
a) Accounts in the balance sheet include accounts of
type 1 to 9, and apply double-entry bookkeeping (i.e. every entry shall be
recorded in both sides of an account). Accounts in the balance sheet are used
to record financial transactions (also called as financial accounting) and
shall be applied by all project management boards to reflect their assets,
debts, funds, revenues, expenditures, and surplus (or deficit) during the
accounting period.
b) Off-balance accounts (accounts of type 0) shall
apply single-entry bookkeeping (i.e. every entry shall only be recorded in one
side of an account). Off-balance accounts related to state budget (accounts
004, 006, 008, 009, 012, 013, 018) must be recorded according to state budget
entries by years (previous year, current year and following year) and other
management requirements (if any). Off-balance accounts used to record deducted
or retained amounts (account 014) and manage expenditures covered by this
funding source must be recorded and reflected according to state budget entries
and other management requirements (if any).
c) If an economic transaction is related to the
receipt and use of funding derived from state budget, foreign aids or loans,
deducted or retained amounts, it must be recorded using both accounts in the
balance sheet and off-balance sheet accounts as regulated.
3. Application of chart of accounts:
a) Accounting units shall refer to the Chart of
accounts enclosed herewith and select accounts suitable for their operations.
b) Accounts may be modified in the following cases:
- Subaccounts of accounts on the chart of accounts
in Appendix 02 enclosed herewith may be created to meet accounting units’
management requirements.
- The addition of any account of the same tier with
that of an account on the chart of accounts (provided in Appendix 02) enclosed
herewith requires the written approval from the Ministry of Finance.
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Article 5. Accounting books
1. Accounting books shall be intended for
recording, systematizing and storing all economic/financial transactions
already arising of accounting units. The management and retention of accounting
books shall abide by regulations of the Law on Accounting, relevant legislative
documents and this Circular.
2. If an accounting unit receives and uses funds
derived from state budget, foreign aids or loans, it must open accounting books
for monitoring such receipt and use of funds for each budget year in conformity
with state budget entries and other management requirements so as to serve the
preparation of budget statements with state budget units and relevant units. An
accounting unit that uses deducted or retained amounts must open accounting
books for monitoring the use of such funds in conformity with state budget
entries and other management requirements so as to serve the preparation of
budget statements with competent authorities.
3. Types of accounting books:
a) Each accounting unit shall use only one
accounting book system for an annual accounting period, including general
accounting book and subsidiary accounting books.
Depending on its applied accounting method, the
accounting unit shall create both general accounting book and subsidiary
accounting books, and ensure full and correct contents,
order and method of recording of each accounting book form.
b) Form of general accounting book:
- Journals are intended for recording
economic/financial transactions in chronological order. An accounting unit may,
where necessary, record economic/financial transactions in chronological order
and classify or systematize them according to economic contents. Data on a
journal reflects all economic/financial transactions that arise during an
accounting period.
- Ledger is intended for recording
economic/financial transactions according to economic contents (or accounts).
An accounting unit may record economic/financial transactions on the ledger in
chronological order and according to economic contents. Data on the ledger
reflects assets, funds and the use of such funds.
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Subsidiary accounting books/sheets are intended for
recording in detail the economic transactions that arise related to accounting
subjects and are not yet included in the ledger in order to meet management
requirements. Data on subsidiary accounting books is the specific information
serving the performance of internal management tasks of an accounting unit as
well as the computation and creation of items of its financial statements and
budget statements.
Based on management and bookkeeping requirements
for each accounting subject, accounting units are allowed to create more
detailed items on their subsidiary accounting books/sheets to serve their
preparation of financial statements and budget statements as well as their
management.
4. Other regulations on responsibility of book
keepers and book makers, opening, recording, closing and modification of accounting
books shall conform to the Circular No. 107/2017/TT-BTC dated October 10, 2017
of the Ministry of Finance.
5. The lists, forms, notes to contents and methods
of making accounting books are provided in the Appendix 03 “Accounting book
system” enclosed herewith.
Article 6. Budget statements
1. If an accounting unit is provided with funding
from state budget for covering project management costs and/or costs of other
activities (except funding for capital construction activities), receives and
uses foreign aids or loans to cover its recurrent costs (except foreign aids
and loans used for capital construction projects/works), it must make budget
statements recording the receipt and use of funding from state budget, foreign
loans and aids in accordance with regulations herein.
2. If an accounting unit’s estimate includes
amounts deducted or retained to serve its operations as assigned by a competent
authority, it shall make budget statement recording the receipt and use of such
deducted or retained amounts in accordance with regulations herein.
3. If an accounting unit has implemented requests
of auditors, inspectors or finance authorities for activities that it manages
in an accounting year, it shall make reports on implementation results thereof
in accordance with regulations herein. Reports made according to the form in
this Circular shall not include data about the results of implementation of
requests of auditors or inspectors for projects using funding derived from
state budget which have been reported using the report form provided in the
Circular No. 85/2017/TT-BTC dated August 15, 2017 of the Ministry of Finance
and relevant legislative documents.
4. Reporting period: Budget statements shall be
made for each annual accounting period. In addition to annual budget
statements, budget statements for other accounting periods shall be made if
required by law.
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6. The list, report forms, receiving authorities,
submission methods and notes to methods for making budget statements are provided
in the Appendix 04 “The system of budget statements" enclosed herewith.
Article 7. Financial statements
Accounting units must close their accounting books
at the end of the annual accounting period and make financial statements which
shall be sent to competent authorities and relevant units as regulated.
1. Financial statements shall be intended for
providing information about financial status, business performance and cash
flow of an accounting unit.
2. Information provided in the financial statements
is helpful to increase the accountability of the accounting unit for the
receipt and use of financial resources in accordance with law regulations and
used as the basis for preparation of consolidated financial statements by
superior accounting units.
3. Rules and requirements concerning the
preparation of financial statements
a) Rules:
Financial statements must be prepared based on data
obtained after accounting books are closed. Financial statements must be made
correctly in terms of contents, method, and consistency between accounting
periods; any difference in presentation of financial statements of different
accounting periods must be explained;
Financial statements shall bear the signatures of
the preparer, the chief accountant, and the legal representative of the
accounting unit. The signatory of a financial statement must take
responsibility for its contents.
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Financial statements must reflect contents and
values of reporting items in a truthful and objective manner; items about
financial status, business performance and cash flow arising during the year of
the accounting unit must be represented according to the prescribed forms.
Financial statements must be prepared in a timely
manner and contain accounting information and data recorded in a clear,
understandable and accurate manner.
Reporting information and data must be continuously
recorded; the data of a period must continue that of the previous period.
4. Reporting period and time limits for submission
of financial statements:
Financial statements must be prepared at the end of
each annual accounting period as regulated in the Law on Accounting.
The annual financial statement of an accounting
unit shall be submitted to the competent authority (more details about receiving
authorities are provided in Appendix 05 – System of financial statements
enclosed herewith) or its superior accounting unit within 90 days from the end
of the annual accounting period as prescribed by law.
5. Publishing of financial statements:
Financial statements must be published in
accordance with regulations of the Law on Accounting and relevant legislative
documents.
6. Accounting units are not required to prepare
“Reports on additional financial information” (Form B01/BSTT) as prescribed in
the Circular No. 99/2018/TT-BTC dated November 01, 2018 of the Ministry of
Finance.
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Chapter III
IMPLEMENTATION
Article 8. Effect
1. This Circular comes into force from January 01,
2020 and applies in the fiscal year 2020 afterwards.
2. This Circular supersedes all provisions in
Chapter II, Part II “Accounting instructions for main investors of public
service units” of the Circular No. 195/2012/TT-BTC dated November 15, 2012 of
the Minister of Finance.
3. Any documents referred to in Circular are
amended or supplemented, the new ones shall prevail.
Article 9. Implementation
organization
1. Ministries and provincial-level People's
Committees shall instruct and disseminate this Circular to main investors and
project management boards under their authority or management.
2. Directors of Accounting and Audit Management and
Supervision Department, Investment Department, Department of Public
Expenditure, State Budget Department, Chief of the Ministry’s Office and heads
of relevant units affiliated to the Ministry of Finance shall disseminate,
instruct, inspect and implement this Circular./.
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PP. MINISTER
DEPUTY MINISTER
Do Hoang Anh Tuan