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New Vietnam accounting standards based on IAS

  • Vietnam Image

17 Apr 2003

Vietnam has begun to adopt a body of Vietnamese Accounting Standards (VAS) that are based on, though not identical to, the related International Accounting Standards (IAS).

The following standards have now been approved (Nos. 02, 03, 04, and 14 effective for 2002 reporting, the others for 2003 reporting):
  • VAS 01, Framework
  • VAS 02, Inventories
  • VAS 03, Tangible Fixed Assets
  • VAS 04, Intangible Fixed Assets
  • VAS 06, Leases
  • VAS 10, The Effects of Changes in Foreign Exchange Rates
  • VAS 14, Revenue and Other Incomes
  • VAS 15, Construction Contracts
  • VAS 16, Borrowing Costs
  • VAS 24, Cash Flow Statement
You can download a Comprehensive Summary of the New VAS (PDF 187k) prepared by VACO-Deloitte Touche Tohmatsu. Click here for Vietnam Information.

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