THE PUBLIC ACCOUNTING SECTOR
On October 10, 2017, the Ministry of Finance guiding the public sector accounting at the Circular No. 107/2017/TT-BTC. Accordingly, public sector entities must use same forms of compulsory accounting vouchers prescribed in this Circular. During the implementation, public sector entities may not modify forms of compulsory
accounting vouchers.
Apart from compulsory accounting vouchers prescribed in this Circular and other documents, public sector entities are entitled to design their own accounting vouchers that reflect their accrual economic events. Cheques, receipts, and valuable papers must be managed similarly to money.
The public sector entity must set up accounting books to record, systematize, and keep all accrual economic events in connection with accounting unit. Each accounting unit only uses an accounting book system for a fiscal year, including general accounting books and detailed accounting books.
Besides, public sector entities financed by state budget must make budget final accounts of funds provided by state budget. If public sector entities accrue other amounts receivable or payable from other sources subject to statement similarly to state budget, they must make statements of these accounts.
This Circular takes on November 24, 2017; supersedes Decision No. 19/2006/QD-BTC dated March 30, 2006 and Circular No. 185/2010/TT-BTC dated November 15, 2010.
