Administrative and public service accoungting remige - New regulations

Abstract

On April 17, 2024, the Ministry of Finance issued Circular No. 24/2024/TT-BTC guiding the administrative and public service accounting regime,  into force from January 01, 2025 and applies from the fiscal year 2025, replacing for Circular No. 107/2017/TT-BTC. This accounting regime has many changes to suit the current financial mechanism of administrative and public service entity; Applying many contents of Vietnamese public sector accounting standards and international public sector accounting standards to guidelines for accounting entity ork to improve the quality of economic and financial information to serve management requirements state financial management, on a basis consistent with international practices.