Thông tư 125/2011/TT-BTC

Circular No. 125/2011/TT-BTC of September 05, 2011, guiding the accounting applicable to the fund management companies

Nội dung toàn văn Circular No. 125/2011/TT-BTC guiding the accounting applicable to the fund manag


THE MINISTRY OF FINANCE
-------

THE SOCIALIST REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
---------------

No.: 125/2011/TT-BTC

Ha Noi, September 05, 2011

 

CIRCULAR

GUIDING THE ACCOUNTING APPLICABLE TO THE FUND MANAGEMENT COMPANIES  

Pursuant to the Accounting Law No. 03/2003/QH11 dated June 17, 2003;

Pursuant to the Securities Law No. 03/2003/QH11 dated June 29, 2006;

Pursuant to the Securities Law amended and supplemented No. 62/2010/QH12 dated November 24, 2010;

Pursuant to the Decree No. 118/2008/ND-CP dated November 27, 2008 of the Government stipulating the functions, duties, powers and organizational structure of the Ministry of Finance;

Pursuant to the Decree No. 129/2004/ND-CP dated May 31, 2004 of the Government stipulating in detail some Articles of the Accounting Law applied in business operation.

The Ministry of Finance makes guidance for the accounting applicable to the Fund management Companies as follows:

Article 1. Scope of adjustment and subjects of application

1. This Circular stipulates a number of accounts, financial reporting forms and methods of preparation and presentation of the financial statements applicable to the fund management Companies operating under the regulation on organization and operation of the Fund management Companies stipulated by the Ministry of Finance;

2. The accounting contents not guided in this Circular, the Fund management Companies  will comply with the provisions of Accounting Law, the guiding documents of Accounting Law, the enterperise accounting regime promulgated under the Decision No. 15/2006/QD-BTC dated March 20, 2006 of the Minister of Finance (hereafter referred to as 15/2006/QD-BTC) and Circulars guiding the implementation of the accounting standards, the Circular guiding the amendment and supplement of enterprise accounting regime.

Article 2. Organization of accounting work

The Fund management Companies  must organize the accounting work to ensure the explicitness and clearness on asset, capital resources  and transactions of the company with the asset and capital resources  of the investors with the portfolio managed by the company with the securities investment Funds (hereafter abbreviated as securities investment Funds) and securities investment companies (hereafter abbreviated as securities investment companies)

Article 3. Amending and supplementing a number of accounting accounts

1. Renaming and supplementing category 2 account of category 1 accounts promulgated in the enterprise accounting regime promulgated together with the Decision No. 15/2006/QD-BTC.

1.1. Renaming account name 511 – “ Revenue from goods sale and service supply” into

 “ Revenue from professional operation and other service supply”

Account 511 has 5 accounts of category 2:

- Account 5111 – Revenue of management operation of securities investment Funds and securities investment companies;

- Account 5112 - Revenue of management operation of securities portfolio;

- Account 5113 -Revenue from operation bonus fees     

- Account 5114 - Revenue of securities investment consultancy operation;

- Account 5118 – Other revenue.

1.2. Renaming Account 532 –“ Sale decline” into “Revenues deduction”

1.3. Renaming Account 631- “ Production expenses” into “Professional operation expenses”

Account 631 has 4 accounts of category 2

- Account 6311- Expenses of management operation of securities investment Funds and securities investment companies

- Account 6312- Expenses of management operation of securities portfolio

- Account 6314- Expenses of  securities investment consultancy operation

- Account 6318- Other professional operating expenses

1.4. Renaming Account 002- “ Materials and goods held under trust or for processing” into “Materials and valuable certificates held under trust”

1.5. Renaming Account 003 - “Goods received on consignment for sale, deposit and collateral” into “ Asset received for collateral”

2. Supplementing 03 accounts of category 1 in the accounting balance sheet and 6 accounts outside the accounting balance sheet compared with the enterprise accounting regime promulgated together with Decision No. 15/2006/QD-BTC and the Circulars guiding, amending and supplementing the enterprise accounting regime.

2.1. Account 132 - Receivables of professional operation

Account 132 has five accounts of category 2:

- Account 1321 – Receivables of management operation of securities investment Funds and securities investment companies;

- Account 1322 – Receivables of management operation of securities portfolio;

- Account 1323 – Receivables of operation bonus fees

- Account 1324 – Receivables of securities investment consultancy operation

- Account 1328 – Receivables of other professional operations

2.2. Account 359 – Provision fund for damage compensation for investors

2.3. Account 637 – General direct expenses

Account 637 has 05 accounts of category 2:

Account 6371 – Direct employee expenses;

- Account 6372 – Expenses of materials and supplies;

- Account 6373 – Fixed asset depreciation

- Account 6374 – Insurance expenses of occupational responsibility

- Account 6378 – Other expenses

2.4. Account 012 – Depository securities of Fund management Companies

2.5. Account 015 – Non-depository securities of Fund management Companies

2.6. Account 021 – Deposit of entrusted investors

2.7. Account 022 – Portfolio of entrusted investors

2.8. Account 023 – Receivables of entrusted investors

2.9. Account 024 – Payables of entrusted investors

3. Do not use a number of accounts as follows:

- Account 151 – Goods in transit

- Account 154 – Expenses of production and business in progress;

- Account 155 – Finished goods

- Account 156 – Goods

- Account 157 - Goods on consignment

- Account 158 - Goods in bonded warehouse

- Account 159 - Provision for decline in inventory

- Account 161 – Non-business expenses

- Account 217 - Investment real estate

- Account 315 - Long term loans due to date

- Account 337 - Construction contract progress payment due to customers

- Account 417 – Enterprise arrangement support fund

- Account 417 - Construction investment fund

- Account 461 - Budget resources

- Account 466 - Budget resources used to acquire fixed assets

- Account 512 - Internal gross sales

- Account 521 - Sale discount

- Account 531 - Sales returns

- Account 611 - Purchase

- Account 621 - Direct raw materials expenses

- Account 622 - Direct labor expenses

- Account 623 - Executing machine using expenses

- Account 627 - General operation expenses

- Account 641 - Selling expenses

- Account 008 – Enterprise and project expenditure estimate

 (List of Account System applicable to the Fund management Companies after amended and supplemented by Appendix 01 promulgated together with this Circular).

Article 4. Accounting of receivables of professional Operation.

Supplementing Account 132 – Receivables of professional operation

This account is used to reflect the debts receivables and the state of debt payment receivables of the Fund management Companies  with the securities investment Funds, the securities investment Companies and the fund investors on the amount from operation management fees collection, expense of securities portfolio, premium, expenses of securities investment consultancy operation, other operation receivables…This account is also used to record the receivables on items spent by the fund management Companies on behalf of securities investment Funds and securities investment Companies

1. Principles of accounting record of this account.

- Receivable debt needs recording in detail for each subject receivable and each content receivable and recording by each payment. The subject receivable is the securities investment Funds, fund management Companies or the subjects having economic relations with the fund management Companies failing to make payment for the services provided on the fund management operation, portfolio management and payment acceptance.

- Not recording in this account the operations of instant money collection (cash or check collected via bank).

- In recording in detail this account, accountants must categorize debt items: debts likely paid on schedule, bad or unrecoverable debts for the basis of defining the number of the provision for bad debts or implementation of measures to deal with unrecoverable debts.

2. Structure and recording content of Account 132 –Receivables of professional operation

Debit:

- Receivables of securities investment Funds, securities investment companies on operation management fees.

- Receivables of investors on unpaid portfolio management fees.

- Receivables of operation bonus fees, securities investment consultancy operation fees;

- Excess amount returned to customers;

- Receivables from the expenses on behalf of securities investment Funds and the securities investment companies;

Credit:

- Amount paid by the securities investment Funds and the securities investment companies

- Amount paid by the investors.

Debit balance:

Amount to be collected from the customers

Account 132 - Receivables of professional operation, there are 05 accounts of category 2:

- Account 1321 – Receivables of the management operation of the securities investment Funds and the securities investment companies: Recording debt receivables on management fees of the fund management Companies with the securities investment Funds and the securities investment companies.

- Account 1322 – Receivables of the management operation of securities portfolio: Recording debt receivables of the fund management Companies by the company’s provision of portfolio management service for the investors.

- Account 1323 – Receivables of operation bonus fees: Recording the receivables of the operation bonus fees of the fund management Companies  enjoy when the result of investment of the fund and the portfolio exceeds the reference ratio accepted by the investors.

- Account 1324 – Receivables of fees of the securities investment consultancy operation: Recording the receivables of fund management Companies on the expenses of the securities investment consultancy operation

- Account 1328 – Receivables from other professional operations: Recording debts to be collected of the Fund management Companies on other professional operations besides the ones recorded in Account 1321, 1322, 1323 and 1324.

3. Method of accounting record of some essential economic operations

3.1. Determining the amount to be collected from the securities investment Funds and the securities investment companies on the operation management fees, securities portfolio management fees, securities investment consultancy fees, accountant will record as follows:

Debit

Account 132 – Receivables of professional operation (1321, 1322, 1324)

Credit

Account 511 – Revenues of professional operation and other service provision (5111, 5112, 5114)

- Upon actually receiving money from the securities investment Funds or investors, record as follows:

Debit

Account 111, 112

Credit

Accounts 132 – Receivables of professional operation (1321, 1322, 1324).

3.2. Upon receiving notification of the premium from the investors for the fund management Companies, accountant will base on relevant documents to record as follows:

Debit

Account 132 – Receivables of professional operation (1323)

Credit

Account 511 - Revenues of professional operation and other service provision

3.3. When there are accruals from the expenses that the fund management Companies make payment on behalf of the securities investment Funds and the securities investment Companies that the responsibility for payment belongs to securities investment Funds such as: expenses of transaction, negotiation and signing of securities sale constract to the investment funds, the accountant will record:

Debit

Account 132 – Receivables of profession operation (1328)

Credit

Account 111, 112.

3.4. When recovering amount paid on behalf of securities investment Funds, securities investment companies, account will record as:

Debit

Account 112 – Cash at bank

Credit 132 – Receivables of professional operation (1328).

3.5. If there are bad debts actually unrecoverable and written off, based on the record of debt remission decision, accountant will record as:

Debit

Account 139 - Provision for bad debts (if provision set up)

Debit

Account 642 – Enterprise management expenses ( if failing to set up provision)

Credit

Account 132 – Receivables of professional operation

At the same time, recording in Debit of Account 004 – Bad debts written off ( Account outside the Balance sheet)

- Upon collecting bad debts written off, accountant will record as:

Debit

Account 111, 112

Credit

Account 711 – Other income

At the same time, recording in Credit of Account 004 - Bad debts written off (Account outside the Balance sheet)

Article 5. Accounting of the investor compensation provision fund

Supplementing Account 359 - Investor compensation provision fund

This account is used to record the current amount and the state of set-up and use of investor compensation provision fund.

Account 359 - Investor compensation provision fund is only used when the financial mechanism allows the fund management Companies to set up the investor compensation provision.

The investor compensation provision is set up yearly included in the administration expenses used to compensate for investors’ damage in case the Fund management companies may cause damage to the investors due to technical problems and the negligence from the person practicing the fund management during operational process. In fiscal year, if the set provision isnot used up, it shall be transferred to the subsequent year for further use.

In principle, at the end of each fiscal year when closing accounting books, the fund management companies must set up the investor compensation provision fund in accordance with current regulations of law.

1. Structure and recording content of Account 359 - Investors compensation provision fund:

Debit:

The investor compensation provision decreases due to expenditure for damage compensation to the investor.

Credit:

The investor compensation provision increases due to yearly setup

Credit balance:

The current investors compensation provision at the end of the period

2. Method of accounting record of some essential economic operations

- When temporarily setting up the investors compensation provision, based on transaction volume and regulation on provision setup as prescribed by the financial mechanism, the fund management Company shall set up the investors compensation provision fund, recording made as follows:

Debit

Account 642 – Enterprise management expenses (6426)

Credit

Account 359 - Investors compensation provision fund

- At the end of accounting period, based on the transaction volume of the accounting period and regulations on provision setup as prescribed and the balance of the investors compensation provision, accountant will calculate and define the amount to be set up for the investors compensation provision, recording made as follows:

Debit

Account 642 – Enterprise management expenses (6426)

Credit

Account 359 - Investor compensation provision fund

- When there are accruals from damages that the investors must be compensated, based on the decision on compensation of the competent authorities and compensation record and expenditure document, recording made as follows:

Debit

Account 359 - Investor compensation provision fund

Accounts 111, 112.

Article 6. Accounting of revenue from professional operation and other services supply

Renaming Account 511 – “Gross sales of merchandise and services” into “Revenue from professional operation and other services supply

This account is used to record the revenue accruing in period from the managemen operation of securities investment Funds, the securities investment Companies, the revenue of the portfolio management operation, the collection of securities investment consultancy operation fees, the collection of operation bonus fees rewarded by the securities investment Funds, securities investment Companies and investors to the fund management Company and other revenue.

1. Principles of accounting record of this account.

1.1. Only recording in the Account 511 – “Revenue from professional operation and other services supply” the revenue on feed of management of securities investment Funds, securities investment Companies, fees of portfolio management, fees of securities investment consultancy operation, operation bonus fees and other revenue collected in period regardless of having been collected or to be collected.

1.2. The revenue is defined by the following categories:

- Revenue of management operation of securities investment Funds and securities investment companies: is the receivable of fees that the Fund management Company enjoys from the operation management of securities investment Funds, securities investment Companies;

- The revenue of securities portfolio management operation: Is the fees that the fund management Companies enjoys from the securities portfolio management operation for the entrusted investors

- The revenue from operation bonus fees: Is the premium that the fund management Companies enjoy when the growth rate of net asset value of securities investment Funds, the value of entrusted portfolio for the management companies increase higher compared with a reference ratio approved by investors.

- Revenue of securities investment consultancy operation: Is the fees that the fund management Companies enjoy from the securities investment consultancy to customers;

- Other revenue

1.3. Not recording in this Acount the following cases:

- The proceeds gained from sale and liquidation of fixed assets

- The proceeds gained from compensation for loss, insured assets;

- Debts collection of bad debts written off, other revenue

1.4. Accountants must record in detailed book to monitor the revenues of the Fund management Company.

2. Structure and recording content of Account 511 - Revenue from professional operation and other services supply

Debit:

- Recording revenue deductions of professional operation

- Carrying forward the net revenue of professional operation and other services provision into Account 911 – “Determinaition of business results”

Credit:

- Revenue of operation management fees of securities investment Funds and securities investment Companies;

- Revenue of securities portfolio management fees:

- Revenue of operation bonus fees;

- Revenue of the fees of securities investment consultancy operation

- Other revenue

This account has no balance at the end of period

Account 511 - Revenue of professional operation and other services provision with 5 accounts of category 2 as follows:

- Account 5111 - Revenue of management operation of securities investment Funds and securities investment companies: This account is used to record revenues from collection of operation management fees of securities investment Funds and asset management fees of the securities investment Companies.

- Account 5112 - Revenue of management operation of securities portfolio: This Account is used to record the revenue that the Fund management companies enjoy from the securities portfolio for the entrusted investors.

- Account 5113 - Revenue from operation bonus fees: This account is used to record revenues from operation bonus fees that the Fund management enjoy when the result of investment of the fund and portfolio exceeds the reference ratio accepted by the investors.

- Account 5114 - Revenue of securities investment consultancy operation: This account is used to record revenue that the fund management companies enjoy from the securities investment consultancy, financial consultancy and other consultancy to customers

- Account 5118 – Other revenue: This account is used to record revenues besides the ones recorded in Accounts 5111, 5112, 5113 and 5114.

3. Method of accounting record of some essential economic operations

3.1. When there are accruals of revenue from the collection activity of management fees of securities investment Funds, securities investment Companies, collection of securities investment consultancy fees and financial consultancy fees…. Accountant will base on the fee invoices and relevant documents in order to record as follows:

Debit

Account 111, 112, 132…

Credit

Account 511 - Revenues of professional operation and other service provision (5111, 5114).

3.2. When determining revenue from securities portfolio management operation for the entrusted investors as agreed in the investment entrusted contract, accountant will record as follows:

Debit

Accounts 111, 112, 132…

Credit

Account 511 – Revenue from professional operation and other services provision (5112).

3.3 Upon receiving money or notification of premiums from the securities investment Funds, accountant will base on relevant documents to record as follows:

Debit

Accounts 111, 112 and 132,…

Credit

Account 511 - Revenue of professional operation and other services provision (5113).

3.4. In case the regulation on tax has prescribed the revenues recorded at point 3.1; 3.2; 3.3 above subject to VAT, the Fund management companies must supplement entry to record VAT to be paid.

3.5. At the end of period, accountant will carry forward the amount deducted from revenue (if any) to the revenue of profession operation as follows:

Debit

Account 511 - Revenue of professional operation and other services provision

Credit

Account 532 – Revenue deductions

3.6. At the end of period, the net revenue of professional operation and other services provision are carried forward into Account 911 – Determination of business results. Recording is as follows:

Debit

Account 511 - Revenue of professional operation and other services provision

Credit

Account 911 - Determination of business results.

Article 7. Accounting of professional operation expenses

Renaming Account 631 – “ Production cost” into “Professional operation expenses”

This account is used to record the accounts relating to the professional operation in period of the Fund management companies.

The professional operation expenses of the Fund management companies consist of: Expenses of management operation of securities investment Funds and securities investment companies, expenses of management operation of securities portfolio, expenses of consultancy operation and other expenses of professional operation..

1. Principles of accounting record of this account.

- Only recording in Account 631 – “ Professional operation expenses” the actual expenses that have accrued ( paid or to be paid) but directly relating to the professional operation of the Fund management companies in accounting period that the companies have responsibility for payment including: Expenses of operation management of securities investment Funds, securities investment Companies, expenses of management operation of securities portfolio, expenses of consultancy operation and other expenses for professional operation that the Fund management companies must make payment.

- Not recording into this account the management expenses of the Fund management companies.

2. Structure and recording content of Account 631 – Professional operation Expenses

Debit:

Recording expenses accrued directly relating to the professional operation of the Fund management companies or other expenses of the professional operation that the Fund management companies must make payment.

Credit:

Carrying forward expenses accrued in period to the Debit of Account 911 – Determination of business results

Account 631 has no balance at the end of period

Account 631 – Professional operation expenses with 4 accounts of category 2:

- Account 6311 - Expenses of management operation of securities investment Funds and securities investment companies: Recording the expenses that the Fund management Companies must make payment for the management operation of securities investment Funds and securities investment Companies.

- Account 6312 - Expenses of management operation of securities portfolio: Recording the expenses accrued to serve the management operation of securities portfolio for the entrusted investors that companies must make payment

- Account 6314 - Expenses of securities investment consultancy: Recording the expenses for the securities investment consultancy operation of the Fund management company.

- Account 6318 - Expenses of other professional operation: Recording expenses accrued directly relating to the professional operation that has not recorded in Accounts: 6311, 6312 and 6314.

3. Method of accounting record of some essential economic operations

- When there are accruals from the expenses relating to the professional operation of the Fund management Companies such as expenses of management operation of securities investment Funds, securities investment Companies, the transactional expenses that the Fund management Companies must make payment, expenses of management operation of securities portfolio, expenses of securities investment consultancy operation, accountant will record as follows:

Debit

Account 631 – Expenses of professional operation (6311, 6312, 6314)

Debit

Account 133 – VAT deducted (if any)

Credit

Accounts 111, 112, 152, 153, 331, 335,…

- When there are accruals from the professional operation, based on the relevant documents, accountant will record as follows:

Debit

Account 631 – Professional operation expenses (6318)

Credit

Acounts 111, 112

- At the end of period, accountant will allot and carry forward general direct expenses and record as follows:

Debit

Account 631 - Professional operation expenses (6311, 6312, 6314, 6318)

Credit

Account 637 - General direct expenses

- At the end of period, accountant will carry forward the professional operation expenses to the Debit of Account 911 – “ Determination of business results” and record as follows:

Debit

Account 911- Determination of business results

Credit

Account 631 - Professional operation expenses

Article 8. Accounting of general direct expenses

Supplementing Account 637 - General direct expenses

This account is used to record the expenses serving directly professional operation of the companies including: Direct employee expenses, materials and supplies expenses, fixed asset depreciation expenses, work responsibility insurance expenses and other expenses.

At the end of period, the companies must calculate, allot and carry forward the general direct expenses to the Debit of Account 631 – “Professional operation expenses” in a suitable and consistent form among accounting periods

1. Structure and recording content of Account 637- General direct expenses

Debit:

General direct expenses accrue in period

Credit:

- Recording the decrease of general direct expenses

- Carrying forward the general direct expenses to the Debit of Acount 631

Account 637 has no balance at the end of period

Account 637 - General direct expenses, has 5 accounts of category 2:

- Account 6371 – Direct employee expenses: To record the expenses relating to direct employees for the general operations of the companies without separately recording each operation such as: salary expense, social insurance,…

- Account 6327 - Materials and supplies expenses: To record expenses of stationery directly used for professional operation in the period.

- Account 6373 - Fixed asset depreciation expenses: To record the fixed asset depreciation expenses directly used for professional operations not yet recorded in Account 631.

- Account 6374 - Work responsibility insurance expenses: To record the buying of work insurance for the persons practicing fund management at the Companies. The companies’ expenditure is recorded in the expenses in period as prescribed by the financial mechanism. This account is only used when the financial mechanism as prescribed allows the Fund management companies to buy the work responsibility insurance.

- Account 6378 – Other expenses: To record the other expenses directly relating to professional operation in the period.

2. Method of accounting record of some essential economic operations

- Direct employee expenses payable in period:

Salary, wage payable and items payable together with salary (responsibility and profession allowance, bonus in salary,…), accountant will record as follows:

Debit

Account 637 – General direct expenses (6371)

Credit

Account 334 – Payable to employees (3341, 3342).

Deduction of Social Insurance, Health Insurance, Trade Union fees, unemployment insurance as prescribed by the current regulations, accountant will record as follows:

Debit

Account 334 – Payable to employee (3341, 3342) (Portion deducted from salary)

Debit

Account 637 – General direct expenses (6371) (Portion included in expenses)

Credit

Account 338 – Other payables (3382, 3383, 3384, 3389).

- The stationary expenses for direct management operation of securities investment Funds, securities investment companies and securities portfolio, accountant will record as follows:

Debit

Account 637 – General direct expenses (6372)

Debit

Account 133 – VAT deducted (if any)

Credit

Accounts 111, 112, 152 and 331.

- Expenses of tools and supplies for direct management operation of securities investment Funds, securities investment companies and securities portfolio, accountant will record as follows:

Debit

Account 637 – General direct expenses (6372)

Debit

Account 133 – VAT deducted (if any)

Credit

Accounts 111, 112, 152 and 331.

- Fixed assets depreciation expenses for direct management operation of securities investment Funds, securities investment companies and securities portfolio and fixed assets depreciation expenses, accountant will record as follows:

Debit

Account 637 – General direct expenses (6373)

Credit

Account 214 – Fixed asset depreciation (2141, 2142, 2143).

- The outside purchasing services expenses used for direct management operation of securities investment Funds, securities investment companies and securities portfolio, accountant will record as follows:

Debit

Account 637 - General direct expenses (6378)

Debit

Account 133 – VAT deducted (if any)

Credit

Accounts 111, 112 and 331.

- Expenditures in cash for direct management operation of securities investment Funds, securities investment companies and securities portfolio, accountant will record as follows:

Debit

Account 637 - General direct expenses (6378)

Debit

Account 133 - VAT deducted (if any)

Credit

Accounts 111, 112

- Upon yearly expenditure for work responsibility insurance as prescribed by the financial mechanism, accountant will record as follows:

Debit

Account 637 - General direct expenses (6374)

Debit

Account 133 - VAT deducted (if any)

Credit

Accounts 111, 112

- At the end of period, accountant will carry forward the general direct expenses to the Debit of Account 631 – Professional operation expenses, accountant will record as follows:

Debit

Account 631 - Professional operation expenses

Credit

Account 637 - General direct expenses

Article 9. Accounting of accounts outside the balance sheet

1. Supplement of Account 012 - Depository securities of Fund management Companies

This account is used to record the amount and value of the face value of transaction securities type, securities of temporary transaction suspension, mortgaged securities, temporarily custodied securities, pending payment securities, pending withdrawal blocked-off securities, pending transaction securities, deposited securities for loan assurance of the Fund management companies and securities of transaction error correction.

1.1 Structure and recording content of account 012 – Depository securities of the Fund management companies

Debit:

Recording an increase of the amount and value of the face value of depository securities possessed by the Fund management companies and deposited at Securities depository center (hereafter referred to as Securities depository center)

Credit:

Recording a decrease of the amount and value of the face value of depository securities possessed by the Fund management companies and deposited at Securities depository center.

Debit balance:

The amount and value of the face value of depository securities possessed by the Fund management companies and deposited at Securities depository center.

Account 012 – The depository securities of Fund management company with 9 accounts of category 2 including:

- Account 0121 - Transaction securities: This account is recorded by the par value of the quantity of securities meeting the conditions for participation in transaction on the stock market.

- Account 0122 - Securities of temporary transaction suspension: This account is recorded by the par value of the quantity of securities of temporary transaction suspension.

- Account 0123 – Mortgaged securities: This account is recorded by the par value of the securities that the units are using for mortgage to serve other operation of the units having securities deposited at Securities depository center.

- Account 0124 - Temporarily custodied securities: This account is recorded by the par value of the securities in the time of temporary custody due to civil violation, payment,…that are not put into transaction on the stock market of the depository members.

- Account 0125 – Pending payment securities: This account is recorded by the par value of the securities that match the selling and buying order and is in the time of payment waiting.

- Account 0126 - Pending withdrawal blocked-off securities: This account is recorded by the par value of the securities being blocked off pending the waiting time of securities withdrawal; do not keep on depositing securities at Securities depository center.

- Account 0127 - Pending transaction securities: This account is recorded by the par value of the securities pending the completion of transactional procedures for official transaction on the stock market.

- Account 0128 - Deposited securities for loan assurance: This account is recorded by the par value of the securities of the Fund management companies in the time of deposit for loan assurance.

- Account 0129 - Securities of transaction error correction: This account is recorded by the par value of the securities in the time of error correction after transaction such as account wrong number, wrong securities, wrong buying order….

1.2. Method of accounting record of some essential economic operations

1.2.1. Accounting of transaction securities depository includes the following contents:

a. Securities depository after the operation of the primary market

Upon receiving the transactional result and securities depository from the securities depository Center relating to the result of securities transaction operation for detailed recording of depository securities of the Fund management companies, accountant will record as follows:

Debit

Accounts 121, 228

Credit

Accounts 111, 112

At the same time monitoring outside the accounting balance sheet, singly recording as follows:

Debit

Account 012 - Depository securities of the Fund management companies

b. Securities depository after the operation of the junior market

When receiving the transactional result from the securities depository Center relating to the result of securities buying and selling of the Fund management companies on the securities transaction market, accountant will record as follows:

- Upon buying securities, record as follows:

Debit

Accounts 121 and 228

Credit

Accounts 111, 112

At the same time monitoring outside the accounting balance sheet, singly recording as follows:

Debit

Account 012 - Depository securities of the Fund management companies (0121).

- Upon selling securities:

Debit

Accounts 111, 112 ( Selling price)

Debit

Account 635 – Financial expenses ( loss)

Credit

Accounts 121, 228 (prime cost)

Credit

Account 515 – Financial operation revenue (profit)

At the same time monitoring outside the accounting balance sheet, singly recording as follows:

Credit

Account 012 - Depository securities of the Fund management companies (0121).

1.2.2. Accounting of securities of temporary transaction suspension, mortgaged securities, temporarily custodied securities, pending payment securities, pending withdrawal blocked-off securities

- Based on the notification of the securities depository Center of temporary transaction suspension, mortgage, temporary custody, accountant will record as follows:

Debit

Accounts 0122, 0123 and 0124

At the same time singly recording as follows:

Credit

Account 0121 – Transaction securities

- Based on the notification of the securities depository Center of the cessation of the transactional suspension, mortgage and custody, accountant will record as follows:

Debit

Account 0121 - Transaction securities

At the same time singly recording as follows:

Credit

Accounts 0122, 0123 and 0124

- Based on the notification of the securities depository Center identifying the buyers and the sellers of the securities through the matching of selling and buying order at the Stock Exchange but pending payment, accountant will record as follows:

Debit

Account 0125 - Pending payment securities

Credit

Account 0121 - Transaction securities

- Based on the notification of the securities depository Center of the pending withdrawal blocked-off securities, accountant will record as follows:

Debit

Account 0126 - Pending withdrawal blocked-off securities

Credit

Accounts 0121, 0122, 0123 and 0124.

- Based on the notification of the securities depository Center of the blockade release, accountant will record as follows:

Debit

Accounts 0121, 0122 and 0123,...

Credit

Account 0126 - Pending withdrawal blocked-off securities

2. Supplementing Account 015 – Non-depository securities of the Fund management companies.

This account is used to record the amount and value (at face value) of the type of non-depository securities and certificates ( stocks, bonds, other securities) of the Fund management companies.

2.1. Structure and recording content of Account 015 - Non-depository securities of the Fund management companies.

Debit:

The amount and value of type of securities and certificates that the Fund management companies have bought on the market but not yet carried out the depository procedures.

Credit:

The amount and value of securities of the Fund management companies sending for depositing at the securities depository Center

Balance of Debit:

The amount and value of the current non-depository securities and certificate at the Fund management companies

2.2. Method of accounting record of some essential economic operations

- When the Fund management companies buy the fund securities and certificates by retail, accountant will record as follows:

Debit

Accounts 121, 228

Credit

Account 111 –Cash (1111, 1112), or

Credit

Account 112 – Bank deposit.

At the same time, recording an increase of non-depository securities of the Fund management companies (Account outside the accounting balance sheet):

Debit

Account 015 - Non-depository securities of the Fund management companies

- When carrying out procedures of fund securities depository and fund certificates bought by retail at the securities depository Center;

When making out non-depository securities of the Fund management companies for depositing at the securities depository Center, singly recording as follows:

Credit

Account 015 - Non-depository securities of the Fund management companies

Upon receiving notification of the securities depository Center on depository securities of the Fund management companies on securities and certificates bought by retail at the securities depository Center, singly recording Debit Account 012 - Depository securities of the Fund management companies (0121).

3. Supplementing Account 021 – Deposit of entrusted investors

This account is used to record the current amount and the state of change in deposit of the entrusted investors deposited at the settlement bank on the basis of investment entrusted contract signed between the entrusted investors and Fund management companies so that the latter carry out the investment for the entrusted investors.

3.1. Structure and recording content of Account 021 – Deposit of entrusted investors

Debit:

- The entrusted investors’ sum of money deposited in the deposit account at the settlement bank.

- Interest received from the investments.

Credit

- The entrusted investors’ deposit decreases due to:

+ Transferring money to buy securities

+ Transferring money to buy other financial investments

+ Paying taxes on behalf of entrusted investors (if any)

- Paying interest to the entrusted investors

Debit balance:

The current sum of money in the entrusted investors’ accounts at the end of period

Account 021 - Deposit of entrusted investors with 2 accounts of category 2:

- Account 0211 - Deposit of domestic entrusted investors: This account records the current amount and the state of change on deposit of domestic entrusted investors at the settlement bank

- Account 0212 - Deposit of foreign entrusted investors: This account records the current amount and the state of change on deposit of foreign entrusted investors at the settlement bank

3.2. Method of accounting record of some essential economic operations

- When the entrusted investors transfer money to the deposit account of entrusted investment at the settlement bank by the commitment of securities portfolio management entrusted contract, based on the bank’s credit note, the Fund management companies will singly record in the Debit of Acount 201 – Entrusted investors’ deposit (0211, 0212) (Acccount outside the accounting Balance sheet).

- Upon receiving investment interests of entrusted investors in cash, singly recording in the Debit of Acount 021 –  Entrusted investors’ deposit

- Upon buying securities of entrusted invesment:

Recording in the Debit of Account 022 – Entrusted investors’ portfolio (recording by the actual investment value)

Singly recording in the Credit of Account 021 - Entrusted investors’ deposit (recording the actual sum of money) 

- Upon selling the securities of entrusted invesment:

Singly recording in the Debit of Account 021 - Entrusted investors’ deposit (Recording actual sum of money collected)

Singly recording in the Credit of Account 022 - Entrusted investors’ portfolio (Recording actual value sold)

- When paying taxes or other payables for the entrusted investors (if any), singly recording in the Credit of Account 021 - Entrusted investors’ deposit.

- When making payment to the entrusted investors the interest from assets of entrusted investment or returning the entrusted investors’ initial investment capital upon termination of the portfolio management entrusted contract, singly recording in the Credit of Account 021 - Entrusted investors’ deposit.

4. Supplementing Account 022 - Entrusted investors’ portfolio

This account is used to record the state of change on the amount and value of entrusted investors’ investment bought by the Fund management companies under the contract signed with entrusted investors on the services of securities portfolio management

4.1. Structure and recording content of Account 022 - Entrusted investors’ portfolio

Debit:

The amount and value of securities, certificates and other investment items bought under the portfolio management entrusted contract.

Credit:

The amount and value of securities, certificates and other investment items sold under the portfolio management entrusted contract.

Debit balance:

The amount and value of securities of types of portfolio that the Fund management companies are keeping on behalf of entrusted investors at the end of period.

Account 022 - Entrusted investors’ portfolio with 2 accounts of category 2:

- Account 0221 – Domestic entrusted investors: This account records the current amount and the state of change on the amount and value of portfolio of domestic entrusted investors.

Account 0221 - Domestic entrusted investors with 7 accounts of category 3:

+ Account 02211 – List of stocks;

+ Account 02212 – List of bonds;

+ Account 02213 – Fund certificates

+ Account 02214 – Certificate of deposit

+ Account 02215 – Deposit with term

+ Account 02216 – List of derivative securities

+ Account 02218 – List of other investment as specified.

- Account 0222 – Foreign entrusted investors: This account records the current amount and the state of change on the amount and value of portfolio of foreign entrusted investors.

Account 0222 - Foreign entrusted investors with 7 accounts of category 3:

+ Account 02211 – List of stocks;

+ Account 02222 – List of bonds;

+ Account 02223  – Fund certificates

+ Account 02224  – Certificate of deposit

+ Account 02225  – Deposit with term

+ Account 02226  – List of derivative securities

+ Account 02228– List of other investment according to other indincation

4.2. Method of accounting record of some essential economic operations

- Upon receiving and buying securities, certificates, saving deposit….for the entrusted investors by the commitment of portfolio management entrusted contract, singly recording in the Debit of Account 022 – “Entrusted investors’ portfolio” by the detail of each type of securities and certificates bought.

- Upon selling or handing over certificates and securities to the entrusted investors, singly recording in the Credit of Account 022 - “Entrusted investors’ portfolio”

5. Supplementing Acccount 023 – Receivables of entrusted investors

This account is used to monitor the receivables of the entrusted investors accrued from entrusted investments such as: interest of entrusted investments due to date but failure of collection, the other interests enjoyed by the entrusted investors and other receivables.

5.1. Structure and recording content of Account 023 – The entrusted investors’ receivables

Debit:

Value of the entrusted investors’ receivables

Credit

Value of the entrusted investors’ receivables collected

Debit balance

Value of the receivables to be collected at the end of period.

5.2. Method of accounting record of some essential economic operations

- The interests of entrusted investors’ investment due to date of receiving but not yet collected, the fund management companies have responsibilities to monitor the above sum of money and singy record of the Debit of Account 023 - Entrusted investors’ receivables

- Upon receiving the of entrusted investors’ interests, singly recording the Credit of Account 023 - Entrusted investors’ receivables

At the same time singly recording in the Debit of Account 021 - Entrusted investors’ deposit

6. Supplementing Account 024 - Entrusted investors’ payables

This account is used to monitor the state of payment of entrusted investors’ payables such as fees payable to the Fund management companies and other payables.

6.1. Structure and recording content of Account 024 - Entrusted investors’ payables

Debit:

Value of entrusted investors’ payables accrued

Credit:

Value of entrusted investors’ payables paid

Debit balance:

Value of entrusted investors’ payables to be paid at the end of period

6.2. Method of accounting record of some essential economic operations

- When there are accruals of entrusted investors’ payables such as fees, other payables, singly recording in the Debit of Account 024 –“Entrusted investors’ payables”

- When spending entrusted investors’ deposit to pay the debts, singly recording in the Credit of Account 024 – “Entrusted investors’ payables”

At the same time singly recording in the Credit of Account 021 – “Entrusted investors’ deposit”

Article 10. The system of Yearly financial report and mid-year financial report

1. Yearly financial report

The Yearly financial report applicable to the Fund management Companies includes 05 reports as follows:

Accounting Balance sheet                                              Form No. B 01 – CTQ

Report of business result                                               Form No. B 02 – CTQ

Cash flow report                                                            Form No. B 03 – CTQ

Notes to the financial statements                                   Form No. B 09 – CTQ

2. Mid-year financial report

The Fund management Companies must make 04 mid-year financial reports in the full form as follows:

- Mid-year accounting Balance sheet (full form)               Form No. B 01a – CTQ

- Mid-year report of business result (full form)                 Form No. B 02a – CTQ

- Mid-year cash flow report (full form)                             Form No. B 03a – CTQ

- Selective notes to the financial statements                   Form No. B 09a – CTQ

Article 11. Form of financial report applicable to the Fund management Companies

1. Form of Yearly financial report ( Annex No. 02)

2. Form of mid-year financial report ( Full form): The forms of mid-year financial report ( Full form) applicable to the Fund management Companies are the same as the form of mid-year financial report ( Full form) promulgated under the Decision No. 15/2006/QĐ-BTC dated March 20, 2006. The targets in each mid-year financial report are applied as the ones of yearly financial report promulgated in this Circular;

Article 12. Content and method of preparing yearly financial report

1. Accounting Balance sheet (Form No. B 01 - CTQ).

The content and method of preparing some targets amended and supplemented. The targets that are not guided in this Circular are preparing by the enterperise accounting regime promulgated under the Decision No. 15/2006/QĐ-BTC dated March 20, 2006 of the Ministry of Finance and the Circulars guiding the amendment and supplement of the enterperise accounting regime.

Professional operation receivable (Code 134)

Recording the receivables of securities investment Funds, securities investment Companies on operation management expenses, entrusted investors’ receivable on the fees of securities portfolio management, receivable of operation bonus fees, receivable of consultancy operation and receivable from other professional operations at the time of reporting.

The data to be recorded in the target “ Receivables of professional operation” is the detailed balance of Account 132 “ Receivables of professional operation” in the detailed accounting Book of Account 132 on the detail of receivables of professional operation.

Government bond repo transaction ( Code 157)

This target reflects the value of Government bond of the buyer before the expiration of sale contract at the time of reporting.

The data to be recorded in the target “Government bond repo transation” is the Debit balance of account 171 “Government bond sale and purchase transation” in accounting book of Account 171.

Short term loan (code 311)

Reflecting the total value of Company’s short-term loan from banks and financial companies and other subjects at the time of reporting. The data to be recorded in the target “Short-term loan” is the Credit balance of Account 311 “Short-term loan” on the ledger and the Credit balance of Account 341 on detailed book of Account 341 “ Long-term loan” ( the long-term loan due to payment in the subsequent accounting year)

Deferred revenue (code 313)

This target reflects the total amount of money advanced by the buyer for purchase of tools, equipment, property and services at the time of reporting. This target does not reflect unrealized revenue (including advanced revenue). The data to be recorded in the target “Deferred revenue” is the detailed Credit balance of Account 131 – “Receivables from customers” opened for each customer in the detailed accounting book of Account 131.

Bonus & welfare funds (Code 323)

This target reflects the bonus & welfare fund, the bonus fund that the steering board hasnot used at the time of reporting.

The data to be recorded in the target “Bonus & welfare fund” is the Credit balance of Account 353 “Bonus & welfare fund” in the accounting book of Account 353.

Government bond repo transaction ( Code 327)

This target reflects the value of Government bond of the seller before the expiration of repo contract at the time of reporting.

The data to be recorded in the target “Government bond repo transaction” is Credit balance of Account 171- “Government bond repo transaction” in accounting book of Account 171.

Short-term unrealized revenue (Code 328)

This target reflects the short-term unrealized revenues at the time of reporting. The data to be recorded in the target “ Short-term unrealized revenue” is the credit balance of Account 3387 – “Unrealized revenue” in the detailed accounting book of Account 3387, the unrealized revenue with term will be turned into unrealized revenue within the next 12 months.

Long-term loan and borrowing (Code 334)

The data to be recorded in the target “Long-term loan and borrowing” is the total Credit balance of Account 341 “ Long-term loan”, Account 342 “ Long-term borrowing”, Account 343 “ Bond issue” in detailed book of Accounts 341, 342 and 343 after subtracting long-term borrowing due paid recorded in the Code 311.

Long-term unrealized revenue (Code 338)

This target reflects the long-term unrealized revenues at the time of reporting. The data to be recorded in the target “Long-term unrealized revenue” is the Credit balance of Account 3387 ”Unrealized revenue” in the detailed book of Account 3387. The unrealized revenue with term is turned into realized revenue over 12 months.

Science and Technology Development Fund (Code 339)

This target reflects the unrealized Science and Technology Development Fund at the time of reporting.

The data to be recorded in the target “Science and Technology Development Fund” is the Credit balance of Account 356 “Science and Technology Development Fund” in accounting book of Account 356;

Investors compensation provision fund (Code 359)

This target reflects the unrealized investor compensation provision fund at the time of reporting.

The data to be recorded in the target “Investors compensation provision fund” is the Credit balance of Account 359 “Investors compensation provision fund” in the Ledger of Account 359.

Content and method of preparing target out of the accounting balance Sheet:

The targets outside the accounting balance Sheet include a number of targets reflecting the assets not under the possession of company but under its control and in its use and a number of targets supplemented cannot be recorded in the accounting balance Sheet.

Depository securities of the Fund management Companies (Code 006)

Reflecting total securities value ( at face value) being deposited of the Fund management Companies at the securities depository Center by each type: Transaction securities, securities of temporary transaction suspension, mortgaged securities, temporarily custodied securities, pending payment securities, pending withdrawal blocked-off securities, pending transaction securities, deposited securities for loan assurance, securities of transaction error correction. The data to be recorded in this criterion is taken from the debit balance of Account 012 " Depository Securities of the Fund management company" in the detailed ledger for each subject in the detailed accounting book of Account 012.

Non-depository securities of the Fund management Companies (Code 020)

Reflecting the total securities value (at face value) that the Fund management Companies have not performed depository is being kept at the company. The data to be recorded in the target is taken from the Debit balance of Account 015 “Non-depository securities of the Fund management Companies” in the ledger.

Entrusted investors’ deposit (Code 030)

Reflecting the sum of money deposited by the entrusted investors at the settlement bank in order to buy securities via portfolio management service signed with the Fund management Companies under the portfolio management entrusted contract. The data to be recorded in this target are taken from the Debit balance of Account 021” Entrusted investors’ deposit” in the Ledger.

Entrusted investors’ portfolio (Code 040)

Reflecting the amount and value of types of securities that the Fund management companies have bought under the contract signed with entrusted investors on securities portfolio management service. The data to be recorded in this target are taken from the Debit balance of Account 022” Entrusted investors’ portfolio” in the ledger.

Entrusted investors’ receivables (Code 050)

Reflecting the amount of money receivable at the end of period of the entrusted investors. The data to be recorded in this target are taken from the Debit balance of Account 023 “Entrusted investors’ receivables”  in the ledger of Account 023.

Entrusted investors’ payables (Code 051)

Phản ánh số tiền còn phải trả cuối kỳ của nhà đầu tư ủy thác. Số liệu để ghi vào chỉ tiêu này lấy từ số dư Nợ của Tài khoản 024 “Các khoản phải trả của nhà đầu tư ủy thác” trên sổ Cái TK 024.

Reflecting the amount of money payable at the end of period of the entrusted investors. The data to be recorded in this target are taken from the Debit balance of Account 024 “Entrusted investors’ payables”  in the ledger of Account 024.

2. Report on the state of change on equity capital ( Form No. B05 -CTQ)

This report is used to record the state of change on equity capital of the Fund management Companies.

Column A “ Target” recording the targets of equity capital

Column 1 and 2 “Balance at beginning of the year” recording the balance at beginning of the year (including previous and current year) for each target of equity capital.

The data to be recorded in column 1 “ Previous year” for each target are based on the data recorded in column 7 of this report of the previous year

The data to be recorded in column 2 for each target are based on the accounting book of accounts 411, 412, 413, 414, 415, 418, 419 and 421 of this year.

Column 3, 4, 5 and 6 “Increase/decrease number” recording the state of increase and decrease of equity capital for each target.

The data to be recorded in column 3 “Increase” and column 4 “Decrease” of the previous year

The data to be recorded in column 5 “ Increase” and column 6 “ Decrease” of this year for each target are based on the accounting book of the accounts 411, 412, 413, 414, 415, 418, 419 and 421 of the reporting year.

Column 7 and 8 “balance at the end of the year” recording the balance at the end of the year (including previous and current year) of the equity capital for each target. The data to be recorded in column 7 (balance at the end of previous year) of this report of previous year.

The data to be recorded in column “balance at the end of current year” of this report of current year are based on balance of accounts 411, 412, 413, 414, 415, 418, 419 and 421 of the reporting year.

Article 13. Effect

1. This Circular takes effect on January 01, 2012

2. This Circular supersedes Decision No. 62/2005/QĐ-BTC dated September 14, 2005 of the Minister of Finance promulgating the accounting regime of Fund management Companies.

Article 14. Responsibility for implementation organization

1. Director of Accounting and Auditing Policies Department, Chairman of State Securities Commission, Directors of Fund management companies and heads of units concerned are liable to guide and execute this Circular.

2. During the course of implementing this Circular, if there is any problem and difficulty arising, promptly report to the Ministry of Finance for study and settlement.

 

 

PP MINISTER
DEPUTY MINISTER




Tran Xuan Ha

 

Đã xem:

Đánh giá:  
 

Thuộc tính Văn bản pháp luật 125/2011/TT-BTC

Loại văn bảnThông tư
Số hiệu125/2011/TT-BTC
Cơ quan ban hành
Người ký
Ngày ban hành05/09/2011
Ngày hiệu lực01/01/2012
Ngày công báo...
Số công báo
Lĩnh vựcDoanh nghiệp, Kế toán - Kiểm toán, Chứng khoán
Tình trạng hiệu lựcCòn hiệu lực
Cập nhật13 năm trước
Yêu cầu cập nhật văn bản này

Download Văn bản pháp luật 125/2011/TT-BTC

Lược đồ Circular No. 125/2011/TT-BTC guiding the accounting applicable to the fund manag


Văn bản sửa đổi, bổ sung

    Văn bản bị đính chính

      Văn bản được hướng dẫn

        Văn bản đính chính

          Văn bản bị thay thế

            Văn bản hiện thời

            Circular No. 125/2011/TT-BTC guiding the accounting applicable to the fund manag
            Loại văn bảnThông tư
            Số hiệu125/2011/TT-BTC
            Cơ quan ban hànhBộ Tài chính
            Người kýTrần Xuân Hà
            Ngày ban hành05/09/2011
            Ngày hiệu lực01/01/2012
            Ngày công báo...
            Số công báo
            Lĩnh vựcDoanh nghiệp, Kế toán - Kiểm toán, Chứng khoán
            Tình trạng hiệu lựcCòn hiệu lực
            Cập nhật13 năm trước

            Văn bản thay thế

              Văn bản được dẫn chiếu

                Văn bản hướng dẫn

                  Văn bản được hợp nhất

                    Văn bản gốc Circular No. 125/2011/TT-BTC guiding the accounting applicable to the fund manag

                    Lịch sử hiệu lực Circular No. 125/2011/TT-BTC guiding the accounting applicable to the fund manag

                    • 05/09/2011

                      Văn bản được ban hành

                      Trạng thái: Chưa có hiệu lực

                    • 01/01/2012

                      Văn bản có hiệu lực

                      Trạng thái: Có hiệu lực