Thông tư 138/2011/TT-BTC

CIRCULAR

GUIDING AMENDMENT, SUPPLEMENTATION OF ACCOUNTING REGIME OF THE SMALL AND MEDIUM-SIZED ENTERPRISES ISSUED TOGETHER WITH DECISION NO.48/2006/QD-BTC DATED 14/9/2006 OF MINISTER OF FINANCE

- Pursuant to the Law on Accounting No.03/2003/QH11 dated 17/06/2003;

- Pursuant to the Decree No.129/2004/ND-CP dated 31/05/2004 of the Government detailing and guiding the implementation of a number of Articles of the Accounting Law applicable to business activities;

- Pursuant to the Decree No.118/2008/ND-CP dated 27/11/2008 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

- Pursuant to the Decree No.56/2009/ND-CP dated 30/6/2009 of the Government on assistance to the development of small- and medium-sized enterprises;

- Pursuant to the Decree No.123/2008/ND-CP dated 8/12/2008 of the Government detailing and guiding the implementation of a number of Articles of the Law on Value Added Tax;

- Pursuant to the Decree No.124/2008/ND-CP dated 11/12/2008 of the Government detailing and guiding the implementation of a number of Articles of the Law on Enterprise Income Tax;

Ministry of Finance guiding amendment, supplementation of accounting regime of the small and medium-sized enterprises issued together with Decision No.48/2006/QD-BTC dated 14/9/2006 of Minister of Finance as follows:

Article 1. To amend and supplement some provisions of the accounting regime for small and medium-sized enterprises, issued together with Decision No.48/2006/QD-BTC dated 14/9/2006 of the Minister of Finance as follows:

1. Item 4, Part 1 "General Provisions" is amended and supplemented as follows:

"3. Script, numerals, units, currency units used in accounting

3.1. Script, numerals in accounting

- The script used in accounting is Vietnamese.

- “Numerals used in accounting is Arabic numerals: 0, 1, 2, 3, 4, 5, 6, 7, 8, 9; after the numerals of thousand, million, billion, trillion,... must be put a point (.). When it still records digits after the units digit, it must put a comma (,) after the units digit.

3.2. Unit used in accounting

Unit in kind and unit of labor time applied to small and medium-sized enterprises is the official measurement unit of the Socialist Republic of Vietnam; in case of using other measurement units, it must be converted into the official measurement unit of the Socialist Republic of Vietnam.

3.3. The currency unit used in accounting

a) The currency unit used in accounting: means Vietnam Dong (the national symbol as "d"; international symbol as "VND") is used for account books, preparation, and presentation of financial statements of the enterprises.

In case an accounting unit mainly collects and spends in foreign currencies, it may choose a foreign currency as the currency unit for account books, preparation, and presentation of financial statements.

b) Selection of the currency unit in accounting for small and medium-sized enterprises with foreign investment

- Small and medium-sized enterprises with foreign investment (hereinafter referred to as small and medium-sized enterprises) mainly collecting and spending in foreign currencies, based on the Accounting Law to consider and decide on selection of currency unit in accounting and is responsible for that decision before the law. When selecting foreign currency as the currency unit in accounting, small and medium-sized enterprise must notify the tax office of direct management.

- When selecting foreign currency as the currency unit in accounting, small and medium-sized enterprises must meet the following criteria simultaneously:

+ The unit of currency must be used primarily in the enterprise’s sale and supply of  services, which greatly affect the price of goods, services and as currency usually used in determining the sales price;

+ The unit of currency must be used primarily in purchase and sale of goods and services of small and medium-sized enterprises and as often the currency unit primarily used in the calculation of revenue, labor costs, payment for purchase of raw materials, goods and services.

- Small and medium-sized enterprise having oversea-based parent company is only selected currency unit in accounting like the currency unit in accounting of the parent company if it is of one of the following cases:

+ Small and medium-sized enterprise which was established with the primary purpose of producing and processing products for its parent company, most materials are purchased from the parent company and the products are exported and consumed by the parent company;

+ The proportion of the activities of small and medium-sized enterprise with its parent company or the proportion of the business transactions of small and medium-sized enterprise with currency unit in accounting of the parent company is substantial (70%) .

c) Conversion of financial statements prepared by currency unit in accounting as foreign currency into Vietnam dong as submitted to the State management agency.

- Small and medium-sized enterprise with foreign investment established and operating in Vietnam using foreign currency as the currency unit in accounting, shall simultaneously with the preparation of financial statements by currency unit in accounting (foreign currency) convert the financial statements to Vietnam dong as submitted to the State management agency.

- The principle of conversion of financial statements prepared by currency unit in accounting as foreign currency into Vietnam dong:

All items on the financial statements of the enterprise (including reported data and comparative data) are converted at average exchange rate on the interbank foreign currency market (hereinafter referred to as inter-bank average exchange rate) announced by the Vietnam State Bank at the date of ending the accounting period. If the date of ending accounting period has no the inter-bank average exchange rate, apply the inter-bank average exchange rate at the nearest date before the date of ending accounting period.

d) Audit of financial statements in the case of using the currency unit in accounting as foreign currency

Financial statements prepared in accordance with the currency unit in accounting as foreign currency are audited according to the current regulations. Financial statements prepared in accordance with the currency unit in accounting as foreign currency is not required to be audited as converted into Vietnam dong but it only need to have the certification of auditor of the exchange rate and the accuracy of the conversion.

đ) Change of currency unit in accounting

- When there are major changes in operations of management and business leading to the currency unit used in the economic transactions no longer meets the criteria specified in point a, clause 4.3, Item 4, Part 1 "General provision" of Decision 48/2006/QD-BTC small and medium-sized enterprises shall be changed the currency unit in accounting. The change from a currency unit used for recording this account book to a currency unit used for recording another account book is made only at the beginning time of a new accounting year. Small and medium-sized enterprises shall notify tax offices of direct management on the change of currency unit in accounting not later than 10 working days from the date of ending accounting year.

- Exchange rate applicable for the items of Balance Sheet of accounting when changing the currency unit in accounting:

The items of Balance Sheet of accounting are converted into currency unit in the new accounting according to the interbank average exchange rate at the date of changing currency unit in accounting.

- Presenting comparative information as changing the currency unit in accounting
In the first accounting period after changing the currency unit in accounting, small and medium-sized enterprises must prepare the financial statements by a currency unit used for recording new account books and present again the data of comparative information (column "Beginning of the year" of the Balance sheet of accounting and column "Last year" of the statement on the results of business operations and cash flow statements), namely:

+ The column "At the beginning of the year" of the Balance Sheet of accounting is presented based on the Balance Sheet of accounting made at the beginning of fiscal year (the time of changing the currency unit in accounting) by using the inter-bank average exchange rate at the date of changing the currency unit in accounting.

+ The column "the Last Year" of the statement on the results of business operations and cash flow statement are presented based on the statement on the results of business operations and cash flow statement made at the beginning of the year by using the inter-bank average exchange rate of the preceding year of the one changed the currency unit in accounting.

e) Explanation of financial statements

When the conversion of financial statement (made in foreign currency) into Vietnam Dong or the currency unit change in accounting is made, small and medium-sized enterprise must present clearly on the explanation of financial statement the reasons for the change of currency unit in accounting and the impact (if any) for the financial statement due to the conversion of financial statement from foreign currency into Vietnam Dong or change of the currency unit in accounting.

2. Items 5, 6, 7, 8, 9 of Part 1 "General Provisions" are amended and supplemented as follows:

- To amend the ordinal number of items 5, 6, 7, 8, 9 into items "4, 5, 6, 7, 8".

- The corresponding points in the former items 5, 6, 7, 8, 9 are amended and supplemented respectively in the new items 4, 5, 6, 7, 8.

3. Item II Part II "system of accounts" is amended and supplemented as follows:

a) To supplement Account 171 - "Purchase and sale of government bonds."

b) To supplement Account 3389 - "Unemployment Insurance".

c) To amend Account 431 - "The fund for reward and welfare" as follows:

- To change Account 431 - "The fund for reward and welfare" into Account 353 - "The fund for reward and welfare";

- To change Account 4311 - "reward fund" into Account 3531 - "reward fund";

- To change Account 4312 - "welfare fund" into Account 3532 - "welfare fund".

d) To supplement Account 3533 - "The welfare fund formed fixed asset", as the level 2 account of Account 353 - "The fund for reward and welfare."

đ) To supplement Account 3534 - "Reward Fund for the unit of management and administration of company" as the level 2 account of Account 353 - " The fund for reward and welfare."

e) To supplement Account 356 - "Fund for the development of science and technology" and supplement the level 2 accounts, such as:

- Account 3561 - Fund for the development of science and technology;

- Account 3562 - Fund for the development of science and technology formed fixed asset

4. The second Part "System of accounts" supplemented to Item III as follows:

"III. Explanation of the content, structure, and method of recording a number of accounts

1. Accounting for costs to issue shares

Where the joint stock companies issue shares, accounting to record the direct costs related to share issue, state:

Debit - Account 4112 - Surplus of capital stock

Credit - Accounts 111, 112 ...

2. Accounting of increasing investment capital of owner in the stock companies

a. The general provisions:

- The increase in investment capital of the owner is guided additionally in this Circular, including the cases of issuing additional shares free of charge, such as issuance of additional shares from share capital surplus, from after tax profit retained (dividend payment in shares) and from the fund of reward and welfare.

- In all cases, issuance of additional shares free of charge, the shares holding company must fully implement the procedures as prescribed by law. When being passed by general meeting of shareholders and being approved by the competent authorities the issuance of additional shares, company shares must record the account book to adjust the capital stock under the plan approved.

b. Accounting of specific professional skill:

- If the joint stock company is issued additional shares from capital stock surplus, accounting based on the concerned records, accounting documents states:

Debit of Account 4112 - Surplus of capital stock.

Credit - Account 4111 - Investment capital of the owner.

- If the joint stock company is issued additionally shares from the funds of equity, state:

Debit - Account 418 - The funds of equity

Credit - Account 4111 - Investment capital of the owner.

Credit - Account 4112 - Surplus of capital stock (if any).

- If the joint stock company is issued additionally shares from after-tax profits undistributed (dividends paid in shares), state:

Debit - Account 421 - After tax profit undistributed

Credit - Account 4111 - Investment capital of the owner;

Credit - Account 4112 - Surplus of capital stock (if any).

 - If the joint stock company is issued bonus shares from the reward fund to increase investment capital of the owner, state:

 Debit - Account 3531 – Reward fund

Debit - Account 4112 - Surplus of capital stock (The difference between the sale price lower than par value - if any)

Credit - Account 4111 - Investment capital of the owner

Credit - Account 4112 - Surplus of capital stock (The difference between the sale price higher than par value - if any).

3. Accounting for the cases that the investors received shares due to the joint stock company increases its investment capital of the owner.

When investors receive more shares without paying any money due to joint stock companies use surplus of capital stock, the funds of equity and after-tax profit undistributed (dividend by stock) shall be in accordance with the existing accounting regime of enterprises.

4. Unemployment Insurance Accounting

Accounting of the unemployment insurance uses account 3389. This account is used to reflect the deduction and make payment for unemployment insurance for workers in the enterprises in accordance with the law on unemployment insurance. Small and medium-sized enterprises must open detail account books to track Unemployment Insurance.

The structure and reflecting contents of Account 3389 - Unemployment Insurance

Debit: Amount of Unemployment Insurance has been submitted to the agency managing the unemployment insurance fund.

Credit:

- Deduct unemployment insurance from the costs of production and business;

- Deduct unemployment insurance from wages of employees.

Balance of credit: The amount of unemployment insurance has been deducted but not submitted to the agency managing the unemployment insurance fund.

Method of accounting of some major economic professional skills

- Periodically deduct unemployment insurance from the costs of production, business, state:

Debit - Accounts 154, 642...

Credit - Account 338 – other payable to, required remitting (3389).

- Calculation of the amount of unemployment insurance that employees required to pay is deducted from their salaries, state:

Debit - Account 334 - Payable employees

Credit - Account 338 – Other payable to, required remitting (3389)

- When remitting unemployment insurance to the agency managing unemployment insurance funds, state:

Debit - Account 338 – Other payable to, required remitting (3389)

Credit - Accounts 111, 112

5. Accounting of fund of reward and welfare

a. The structure, reflecting content and the method of accounting settlement of accounts 3531, 3532 do not change compared with account 431 prescribed in Decision No.48/2006/QD-BTC dated 14/9/2006 of the Minister of Finance.

b. Account 3533 - The welfare fund formed fixed asset

This account is used to reflect the current number; situation of increasing, decreasing welfare funds formed the fixed assets of enterprise.

The structure and reflecting content of account 3533 - "The welfare fund formed fixed asset"

Debit:

Welfare fund formed fixed asset shall decrease as calculating depreciation of fixed assets or due to the sale or liquidation, discovered missing when the inventory of fixed assets used for cultural and welfare activities.

Credit:

Welfare fund formed fixed asset shall increase due to investment, procurement of fixed assets by the welfare fund that was put into use for cultural and welfare activities.

Credit balance:

Number of welfare funds formed existing fixed asset at the end of period.

Method of accounting of some major economic professional skills

- As the investment, procurement of fixed assets is completed by the welfare fund put into use for cultural and welfare purposes of the enterprises, state:

Debit - Account 211 - Fixed assets (Original)

Credits - Accounts 111, 112, 241, 331, ...

And state:

Debit - Account 3532 - Welfare Funds

Credit - Account 3533 - The welfare fund formed fixed asset.

- At the end of the accounting year, to calculate the depreciation of fixed assets invested, purchased by the welfare fund, used for cultural and welfare needs of the enterprises, state:

Debit - Account 3533 - The welfare fund formed fixed assets

Credit - Account 214 - Depreciation of fixed assets.

- The sale or liquidation of fixed assets invested and procured by the welfare fund, used for cultural and welfare activities:

+ Reduce fixed assets for sale and liquidation:

Debit - Account 3533 - The welfare fund formed fixed asset (remained value)

Debit - Account 214 - Depreciation of fixed assets (depreciation value)

Credit - Account 211 - Tangible fixed assets (original)

+ Reflect the revenues and expenditures from sale or liquidation of fixed assets:

* For the expenses, state:

Debit - Account 353 - The fund of reward and welfare (3532)

Credit - Accounts 111, 112, 334,...

* For the revenues, state:

Debit - Accounts 111, 112,...

Credit - Account 353 - The fund for reward and welfare (3532)

Credit - Account 3331 - Payable VAT (if any)

c. Account 3534 - "Reward Fund for the unit of management and administration of company"

This account reflects the current number, situation of setting up and spending Reward Fund for the unit of management and administration of company.

The structure and reflecting content of account 3534 - "Reward Fund for the unit of management and administration of company"

Debit:

Spend reward fund for the unit of management and administration of company.

Credit:

Appropriate the Reward Fund for the unit of management and administration of company from after-tax profit.

Balance of the Credit:

Number of reward funds the unit of management and administration of company has currently had at the end of the period.

Method of accounting of some major economic professional skills

- During the year as temporarily deducting Reward Fund for the unit of management and administration of company, state:

Debit - Account 421 - Undistributed profit

Credit- Account 3534 - Reward Fund for the unit of management and administration of company.

- At the end of the year, determine Reward Fund for the unit of management and administration of company deducted more, state:

Debit - Account 421 - Undistributed profit

Credit - Account 3534 - Reward Fund for the unit of management and administration of company.

- When using the Reward Fund for the unit of management and administration of company to reward individuals and collective in the enterprise, state:

Debit – Account 3534 - Reward Fund for the unit of management and administration of company

Credit - Accounts 111, 112

6. Accounting for Fund for development of science and technology

 Accounting for Fund for development of science and technology uses account 356.

This account is used to reflect the current number, situation of increasing or decreasing the Fund for development of science and technology of enterprise. Development Funds of Science and Technology of small and medium-sized enterprises are used only for development research of science and technology in Vietnam.

Accounting for this account must follow some following principles

- The appropriation and use of Funds for development of science and technology of the enterprises must comply with the provisions of law.

- The Fund for development of science and technology is accounted into cost of business management to determine business results in the period. Every year, the enterprises shall self-determine the level of appropriation and use of Fund for development of science and technology as prescribed by law.

The structure and reflecting content of Account 356 - "The Fund for development of science and technology"

Debit:

- The expenditures from the development fund of science and technology.

- Reduce the Fund for development  of science and technology formed the fixed assets (fixed assets) when calculating the depreciation of fixed assets, the remaining value of fixed assets after the sale, liquidation, liquidation cost of fixed assets formed from development fund of science and technology.

- Reduce Fund for development of science and technology formed fixed assets when fixed assets are formed from the Fund for development of science and technology transferred for the manufacture and business purposes.

Credit:

- The appropriation of Fund for development of science and technology included in the cost of business management.

- The proceeds from the liquidation, sale of fixed assets formed from the Fund for development of science and technology used for research and development for science and technology.

Balance of Credit: The existing amount of the Fund for development of science and technology of enterprise at the time ending the report period.

Account 356 - the Fund for development of science and technology, there are two level 2 accounts:

Account 3561 - the development fund of science and technology: Reflects the current number and situation of appropriation, spending of the Funds for development of science and technology;

Account 3562 - the Fund for development of science and technology formed fixed assets: Reflects the current number and situation of increasing or reducing Fund for development of science and technology formed fixed asset.

Accounting method of some major economic professional skills

- During the year, when appropriating the Fund for development of science and technology under the regulations, state:

Debit - Account 642 - Expenses for Business Management (6422)

Credit - Account 356 - the Fund for development of science and technology.

- When spending Fund for development of science and technology for research purposes, development of science and technology of the enterprises, state:

Debit - Account 356 - Fund for development of science and technology

Debit - Account 133 - deductible VAT (if any)

Credit - Accounts 111, 112, 331...

- When the investment, purchase of fixed assets completed by the Fund for the development of science and technology for purposes of research, development of science and technology, state:

Debit - Account 211 - Fixed Assets (Original)

Debit - Account 133 - deductible VAT (if any)

Debit - Accounts 111, 112, 331...

Also, state:

Debit - Account 3561 – Fund for the development of science and technology

Credit - Account 3562 - Fund the development of science and technology formed fixed asset.

- At the end of accounting period, calculation for depreciation of fixed assets invested, purchased by the Fund for the development of science and technology for purposes of research and development of science and technology, state:

Debit - Account 3562 - Fund for the development of science and technology formed fixed asset.

Credit - Account 214 - Depreciation of fixed assets.

- The liquidation, sale of fixed assets invested, purchased by the Fund for the development of science and technology used for research and development of science and technology:

+ State reduction of fixed assets liquidated or sold:

Debit - Account 3562 - the Fund for the development of science and technology formed fixed assets (remaining value)

Debit - Account 214 - Depreciation of fixed assets (depreciation value)

Credit - Account 211 - Fixed assets

+ Recognition of the proceeds from the liquidation, sale of fixed assets:

Debit - Accounts 111, 112, 131

Credit - Account 3561 - Fund for the development of science and technology

Credit - Account 3331 - Payable VAT (33311)

+ Recognition of the costs incurred directly related to the liquidation, sale of fixed assets:

Debit - Account 3561 - Fund for the development of science and technology

Debit - Account 133 - deductible VAT

Credit - Accounts 111, 112, 331

- When ending the process of research, development of science and technology transfer of fixed assets formed from the Fund for the development of science and technology to serve the purpose of manufacturing, business, accounting state:

Debit - Account 3562 - Fund for the development of science and technology formed fixed asset

(The remaining value of fixed assets formed from the fund not fully depreciated)
Credit - Account 711 - Other income.

Since the time fixed assets transferred to serve for the purposes of production, business, depreciation of fixed assets is included in cost of production and business in accordance with current provisions of the enterprise accounting regime.

7. Accounting for transactions purchasing and reselling government bonds

Accounting for transactions purchasing and reselling government bonds uses account 171. This account is used to reflect the transactions purchasing and reselling government bonds arisen in the period.

The structure, content, and method of accounting Account 171 "transactions purchasing and reselling government bonds" shall comply with Circular No.206/2009/TT-BTC dated 27/10/2009 of the Ministry of Finance guiding accounting for transactions purchasing and reselling government bonds.

8. Accounting for products, goods or services for internal consumption

Products, goods, or services for internal consumption are the products, goods, or services supplied to use for consumption of the business establishments not including products, goods, services used to continue the process of production and trade of the establishments. The determination of the amount of Deductible VAT and Payable VAT and declaration of VAT and CIT comply with the provisions of tax law.

- If the products, goods or services subject to VAT calculated by deduction method for internal consumption in service of production and trade of goods and services subject to VAT calculated by deduction method:

+ When using the products, goods for internal use, state:

Debit - Account 632 – Prime cost of goods sold

Credit - Accounts 155, 156

+ Recognition of internal products sale revenues by the costs of producing products or prime cost of goods, state:

Debit - Accounts 154, 642 (costs of producing products or prime cost of goods)

Credit - Account 511 – Revenues from sales of goods and services provision (details of revenues from sales of internal goods).

Also, accounting VAT declaration for the products, goods or services for internal consumption, state:

Debit - Account 133 - Deductible VAT

Credit - Account 3331 - Payable VAT (33311)

- If the product, goods or services subject to VAT calculated by deduction method for internal consumption in service of production and trade of goods and services not subject to VAT or under subject to VAT but by the direct method, when taking products, goods for internal use, accounting to reflect the revenue from selling internal products by costs of producing products, or prime cost of goods, state:

+ When taking products, goods for internal use, state:

Debit - Account 632 - prime cost of goods sold

Credit - Accounts 155, 156

+ Recognition of internal products sale revenues by the costs of producing products or prime cost of goods, state:

Debit - Accounts 154, 642 ... (the costs of producing products or prime cost of goods plus (+) output VAT)

Credit - Account 511 – Revenues from sales of goods and services provision (the costs of producing products or prime cost of goods) (details of revenues from sales of internal goods)

Credit - Account 3331 - Payable VAT (33311)

9. Accounting for revaluation of assets upon transformation of ownership

If small and medium-sized enterprises are entitled to re-determine the enterprise value at the time of transformation of ownership (except for enterprises with 100% state capital converted into stock companies) in accordance with law provisions, accounting to record the difference of revaluation of assets to be other income or other expenses, state:

- For the value of assets assessed up, state:

Debt - related accounts

Credit - Account 711 - Other income.

- For the value of assets assessed down, state:

Debit - Account 811 - Other expenses

Credit - Related accounts. "

5. Some provisions in Part III - "The system of financial statements" shall be amended and supplemented as follows:

5.1. Point (2) clause 4, Item I, Part III "The system of financial statements," is added the following content:

"Small and medium-sized enterprises (including domestic enterprises and enterprises with foreign investment), located in the export processing zones, industrial zones, hi-tech parks, in addition to the submission of annual financial statements to the agencies in accordance with  provisions (the tax agencies, the business registration agencies, the statistics agencies) must also submit annual financial statements to the management units of processing zones, industrial zones, hi-tech parks if be required."

5.2. Item I Part III " The system of financial statements" is added the following content:

"5. Presentation of financial statements when the transformation of ownership

- For accounting Balance Sheet: The total balance of assets, liabilities and equity inherited from the former enterprise before the conversion is recorded as the generating number of new enterprise and is presented in column "End of year". The column "Beginning of year" has no data.

- For the report of business results: only present data from the time of conversion to the end of the first report period in the column "This year". The column "Last Year" has no data.

- For the report of cash flow: only present data from the time of conversion to the end of the first report period in the column "This year". The column "Last Year" has no data. "

5.3. To amend and supplement a number of targets on the accounting Balance Sheet (Form No. B01-DNN)

- Change target code "Long-term liabilities" - Code 320 on the accounting balance sheet into code 330 on the balance sheet of accounting.

- Change target code "Loan and long-term liabilities" - Code 321 on the balance sheet of accounting into code 331 on the balance sheet of accounting.

- Change target code "reserve fund for unemployment allowance" - Code 322 on the balance sheet of accounting into code 332 on the balance sheet of accounting.

- Change target code "other payable, remitted long-term" - Code 328 on the balance sheet of accounting into code 338 on the balance sheet of accounting.

- Change target code "Payable provision for long-term" - Code 329 on the balance sheet of accounting into code 339 on the balance sheet of accounting.

- Change target code "Fund for reward and welfare" - Code 430 on the Balance Sheet of accounting into Code 323 on the Balance Sheet of accounting. The data for recording in the target "Fund for reward and welfare" is the Credit balance of account 353 - "Fund for reward and welfare" on ledger or diary of ledger.

- Modify the target "The advances paying buyer" - Code 313 on the Balance Sheet of accounting. Targets that buyer pays in advance reflect the total amount advanced by the buyer to purchase property, goods, real estate of investment, and services at the time of reporting. This target does not reflect the revenues not yet been implemented (including revenue received in advance). The data for recording in the target "The advances paying buyer" is the detailed Credit balance of the account 131 - "Receivables of customers" opened to every customer on the detail accounting book of account: Account 131.

- To add the target "Transactions purchasing and reselling government bonds" - Code 157 on the balance sheet of accounting. This target reflects the value of government bonds of the purchasing party as not yet ended the term of reselling contract traded at the time of reporting. The data for recording the target "Transactions purchasing and reselling government bonds" is the outstanding balance of Account 171 - Transactions purchasing and reselling government bonds on the detail accounting book of account: Account 171.

- To add the target "Transactions purchasing and reselling government bonds" - Code 327 on the balance sheet of accounting. This target reflects the value of government bonds of the selling party as not yet ended the term of purchasing and reselling contract at the time of reporting. The data for recording the target "Transactions purchasing and reselling government bonds" is the outstanding Credit balance of Account 171 - Transactions purchasing and reselling government bonds on the detail accounting book of account: Account 171.

- To add the target "Revenue unrealized short-term" - Code 328 on the Balance Sheet of accounting. This target reflects the revenues unrealized short-term at the time of reporting. The data for recording the target "Revenue unrealized short-term" is the Credit balance of Account 3387 - "Unrealized revenues" on the detail accounting book - account 3387 (number of termly unrealized revenues converted into revenues made within 12 coming months).

- Change target code "Payable provisions for short-term" - Code 319 on the Balance Sheet of accounting into code 329.

- To add the target "Revenue unrealized long-term" - Code 334 on the Balance Sheet of accounting. This target reflects the revenues unrealized long-term at the time of reporting. The data for recording the target "Revenue unrealized long-term" is the Credit balance of Account 3387 - "Unrealized revenues" on the detail accounting book - account 3387 (number of termly unrealized revenues converted into revenues made over 12 months or equal to total credit balance of Account 3387 - "unrealized revenue" minus (-)number of revenue unrealized short-term reflected in the target 328).

- To add the target "Fund for the development of science and technology" - Code 336 on the Balance Sheet of accounting. This target reflects the Fund for the development of science and technology not yet been used at the time of reporting. The data for recording the target "Fund for the development of science and technology" is the credit balance of account 356 - "Fund for the development of science and technology" on the account books - account 356.

5.4. To amend and supplement a number of targets on the Cash Flow Report (Form No. B03-DNN)

- Proceeds from sale of government bonds under a purchasing, reselling contract (Repo) are reflected in the target "Short-term, long-term loan received" (Code 33);

- Cash payment for purchase/redemption of government bonds under a purchasing, reselling contract (Repo) is reflected in the target "Cash Repayment for loans" (Code 34).

5.5. Point (1) and (2) clause 5, Item III - Explanation of financial statements (Form No.B09-DNN) is amended and supplemented as follows:

6. Item I, Fifth section "account book regime" added the following contents:

"10. Conversion of the balance on the account books as transforming their forms of ownership:

- When transforming forms of ownership, small and medium-sized enterprises must conduct to close account books as prescribed by law. In the first accounting period after the conversion, the enterprises must record account books according to the following principles:

- For account books reflecting the assets, liabilities and equity: The total balance of assets, liabilities and equity on the account books of the former enterprises are recorded as amounts arising on account books of the new enterprises. The line of opening balance on the account books of the new enterprises has no data.”

 Article 2: Implementation organization

1. This Circular takes effect from January 01, 2012. Other parts of accounting of small and medium-sized enterprises not amended and supplemented in this Circular shall comply with the accounting regime for small and medium-sized enterprises issued together with Decision No.48/2006/QD-BTC dated 14/9/2006 of the Minister of Finance. The contents specified in the accounting regime for small and medium-sized enterprises issued together with the Decision 48/2006/QD-BTC contrary to the provisions of this Circular shall comply with the provisions of this Circular.

2. Tax Departments of provinces and cities under central authority coordinate with relevant branches to help the People's Committees of provinces and cities under central authority to guide and inspect the implementation of accounting regime for small and medium-sized enterprises in the units under their areas of management.

3. Director of Department of Regime of Accounting and Auditing Regulations, General Director of Taxation General Department, Chief Office of the Ministry, Director of Enterprise Finance Department and heads of relevant units are responsible for guiding, inspecting and implementing this Circular./.