Accounting and Reporting Services in Vietnam
Contact us : info@vbk.com.vn
VINA BOOKKEEPING CO., LTD. (“VBK”), is one of the leading mid-tier accounting and advisory firms in Vietnam. Under its core purpose of being the firm of choice for growing businesses looking for high quality and personalized services, VBK provide expert services in incorporation, bookkeeping, accounting, taxes, and advisory to FDI enterprises in Vietnam. In two consecutive years 2018 – 2019, VBK is in the Top 10 largest accounting firms in Vietnam ranked by the Ministry of Finance.
We are committed to implementing our mission of Quality First (Quality First) and the spirit of Dedicated Service (Omotenashi) exceed customer expectations. Service quality has complied with international standards and commit to satisfy all customers.
Currently, our customers are FDI enterprises from over 22 countries around the world, including multinational companies and listed on the stock exchanges of the US, Japan, and Singapore.
Currently, we have two offices in Vietnam and have 52 professional experienced officers, including 7 ASEAN CPAs, 10 CPAs, 12 CPTs.
We were honored to receive the Certificate of Merit from Vietnam Tax Consultants’ Association (“VTCA”) for having many achievements in the development of the Association and supporting taxpayers to comply with tax policies in 2018 – 2022 and also received the Certificate of Merit from the Vietnam Association of Accountants and Auditors (“VAA”) for its outstanding achievements in the association’s contribution and development in 2019- 2022.
Scope of services:
1.1 Initial accounting setup and registration
1.2 Monthly bookkeeping and reporting
1.3 Preparation of annually reporting
1.4 Convert financial statement from VAS into IFRS
1.5 Assistance for the annual statutory audit of financial statements
1.6 Preparation and filing of statutory statistics reports
1.1 Initial accounting setup and registration
Under the prevailing regulations and current practice, a business entity which is granted with an enterprise registration certificate required to set up and maintain an appropriate accounting system which is in accordance with requirements of Vietnamese Accounting Standards and Vietnamese Accounting System for enterprises (“VAS”).
In this regard, we are pleased to assist the Company in setting up its initial accounting with the following scope of work:
- Understand the Company’s reporting requirements, templates, systems and software, where applicable;
- Set up the Company file in an appropriate accounting software and to formulate a chart of accounts in accordance with the requirements as set forth under VAS and your specific requirements;
- Register the Company’s accounting policies and the first fiscal year with the tax authorities (if required);
- Register the Company’s method of fixed assets with the tax authorities (if required); and
1.2 Monthly bookkeeping and reporting
Upon completion of the initial accounting setup, we would like to assist the Company on a monthly basis in the following scope of work:
- Collect information/data and documents necessary related to contracts, invoices, payments, receipts, vouchers, collections, etc. from the Company.
- Review documents/data, posting accounting entries according to the chart of accounts and in compliance with VAS in English and Vietnamese;
- Provide monthly reports including Balance sheet, Profit & Loss, Trial Balance, Cash Flow and General ledgers as per VAS in both English and Vietnamese; and
Please note that the above services are exclusive of
- Prepare the management report (i.e. to prepare financial reports for the management in a format provided by the Company); and
- Prepare IFRS conversion adjustments based on a gap assessment between VAS and IFRS requirements;
- Support to localize the Company’s group accounting software in accordance with VAS (if any).
Upon request, VBK would also assist the Company in the additional scope and fee services.
1.3 Preparation of annually reporting
We would like to assist the Company on a year end basis in the following scope of work:
- Collect information/data and documents necessary related to contracts, invoices, payments, receipts, vouchers, collections, etc. from the Company.
- Review documents/data, posting accounting entries according to the chart of accounts and in compliance with VAS in English and Vietnamese;
- Provide annually reports including Balance sheet, Profit & Loss, Trial Balance, Cash Flow and General ledgers as per VAS in both English and Vietnamese; and
1.4 Convert financial statement from VAS into IFRS
We would like to assist the Company in the following scope of work:
- Review documents/data, financial statements prepared in compliance with VAS in English and Vietnamese;
- Find and prepare adjustment entries in difference between VAS and IFRS
- Prepare financial satatements based on IFRS including Balance sheet, Profit & Loss, Trial Balance, in both English and Vietnamese;
1.5 Assistance for the annual statutory audit of financial statements
- Prepare and provide necessary accounting and tax documents to independent auditor;
- Come the Company’s office to work with auditor during audit course;
- Check the Draft of audit report and send to the Company for review and decision; and
- Submit these financial statements to relevant authorities on the Company’s behalf (if any).
1.6 Preparation and filing of statutory statistics reports
We will assist the Company in preparing the following statutory reports as per requirements:
- Monthly/Quarterly/Annual reports on foreign direct investment, labor, income and business according to prevailing statistics regulations to the Department of Statistics;
- Quarterly reports on investment capital and charter capital implementation according to prevailing statistics regulations to the Department of Statistics;
- Quarterly reports on investment projects according to prevailing statistics regulations to the Department of Planning and Investment;
- Send the above reports to the Company for review and approval; and
- Submit the reports to the Department of Planning and Investment and the Department of Statistics.
We will provide Chief accountant services to the Company which includes below:
- Sign as Chief accountant position on the audited financial statements of the Company.
- Sign as Chief accountant position on all accounting books prepared by the Company according to Vietnamese accounting regime.
Notes: Our scope of work is not inclusive services of preparation and siging accounting vouchers.
Our service is always provided by the experienced team with many years providing services to Japanese enterprises and FDI, have full Tax certification and Certified Public Accountant (CPA) certification issued by the Ministry of Finance and the General Department of Taxation. We are committed to service quality is above all (Quality First), and the spirit of dedicated customer service (Omotenashi).”
