Implementing Circular 24 of the Ministry of Finance

BTO - On the morning of May 8, in Ho Chi Minh City, the Ministry of Finance held a conference to deploy Circular No. 24/2024/TT-BTC, guiding the administrative and career accounting regime for administrative and career agencies and units in the Southern region.

Circular 24 has just been issued to replace 4 circulars: Circular No. 107/2017/TT-BTC guiding the administrative and career accounting regime; Circular No. 108/2018/TT-BTC guiding the accounting of national reserves; Circular No. 79/2019/TT-BTC guiding the accounting regime applicable to project management boards using public investment capital and Circular No. 76/2019/TT-BTC guiding the accounting of transport and irrigation infrastructure assets.

After 7 years of implementing Circular 107/2017/TT-BTC, there have been many changes such as financial mechanisms, public debt areas, and areas related to the state budget, all of which have many new regulations, leading to many shortcomings in implementation. In addition, from 2017 to present, there have been many developments in the organization of accounting work at units, leading to difficulties in arranging accounting apparatus at each unit... Therefore, the implementation of Circular 24 has an impact on all administrative units nationwide.

The content of Circular 24 has many new points compared to the provisions of previous accounting regimes to guide Vietnamese public accounting standards, new financial mechanisms, meet the requirements of organizing a streamlined and effective accounting apparatus, overcome existing problems in practice and in providing information for preparing state financial reports.

According to the content of Circular 24, accounting units are allowed to design their own accounting documents to reflect economic and financial transactions arising in accordance with management requirements; the unit must open accounting books to record, systematize and store all economic and financial transactions arising at the unit; the financial statements of the accounting unit must be prepared based on accounting information and data after closing the accounting books; the annual financial statements of the accounting unit must be submitted to the competent authority within 90 days from the end of the annual accounting period in accordance with the provisions of law...

P. LIEN

Source: https://baobinhthuan.com.vn/trien-khai-thong-tu-24-cua-bo-tai-chinh-118694.html