Vietnamese Accounting Standards (VAS)

Learning goals

Upon completion of this course, students should be able to

  • Demonstrate an understanding of Vietnamese accounting system and regulatory framework of accounting
  • Describe the main features of the structure of the VAS
  • Learn how to analyse and record typical business transactions in accordance with the VAS
  • Understand and prepare financial reports in accordance with the VAS
  • Assess company performance on the basis of reports prepared under the VAS
  • Critically analyse main differences between VAS and IAS & IFRS.
  • Demonstrate the problem solving, critical thinking and communication skills in accounting.


  • Accounting Law (2003)
  • Vietnamese Accounting Standards (26 standards)
  • Legal documents:
    • Circulars No. 89/2002/TT-BTC; 105/2003/TT-BTC; 23/2005/TT-BTC; 20/2006/TT-BTC; 21/2006/TT-BTC; and 161/2007/TT-BTC on instructing accounting treatments for VAS.
    • Decision No. 15/2006/QĐ-BTC on enacting “Enterprise accounting system”; Circular No. 244/2009/TT-BTC on emending and supplementing “Enterprise accounting system”.
    • Circular No. 177/2009/TT-BTC on guiding to determine taxable income for exchange rate differences of foreign currency liabilities; Circular No. 201/2009/TT-BTC on guiding to reat exchange rate differences in enterprises.


Course contents

1. Introduction to Vietnamese accounting system and VAS

  • The development of accounting in Vietnam
  • The regulatory framework of Vietnamese accounting
  • Introduction to VAS
  • General standard VAS 01 vs. IFRS framework

2. Inventories – (VAS 02)

  • Managing Inventories
  • Accounting for Inventories
  • Provisions

3. Tangible Fixed Assets (VAS 03) & Intangible Fixed Assets (VAS 04)

  • Tangible fixed assets (VAS 03)
  • Intangible fixed assets (VAS 04)

4. Investments (VAS 05, 06 & 07)

  • Investment in equity securities (VAS 07 & 08)
  • Investment in debt securities
  • Investment property (VAS 05)

5. Merchandising Business and Measuring Business Income (VAS 11)

  • An overview of merchandising business
  • Accounting for merchandising business
  • Measuring Income (VAS 11)

6.    Financial reporting (VAS 17 & 23)

  • Introduction to Financial Statements
  • Balance Sheets
  • Income Statement (VAS 11, 13, 14 & 26)
  • Statement of Cash flows (VAS 20)



Ph.D Le Ho An Chau

Type of Course:

Lectures with exercises

Certification of credits:

The module is assessed by

  1. A term project (team work): 30%
  2. Final examination (written exam): 70%