TAILIEUCHUNG - Integrating international accounting standards into financial statement of Vietnam's joint-stock companies prepared for listing on foreign stock markets

This paper investigates primary differences between Vietnam’s accounting standards (VAS) and international accounting standards (IAS) as well as international financial reporting standards (IFRS), thereby introducing some solutions to collaboration between the government agencies and listed joint-stock companies (JSC) in an effort to apply IAS to the making of financial statements for Vietnam’s JSC before their listing on foreign stock exchanges. | ECONOMIC DEVELOPMENT No. 205, September 2011 INTEGRATING INTERNATIONAL ACCOUNTING STANDARDS INTO FINANCIAL STATEMENTS OF VIETNAM’S JOINT-STOCK COMPANIES PREPARED FOR LISTING ON FOREIGN STOCK MARKETS by Assoc. Prof., Dr. HAØ XUAÂN THAÏCH* & MEcon. NGUYEÃN NGOÏC HIEÄP ** This paper investigates primary differences between Vietnam’s accounting standards (VAS) and international accounting standards (IAS) as well as international financial reporting standards (IFRS), thereby introducing some solutions to collaboration between the government agencies and listed joint-stock companies (JSC) in an effort to apply IAS to the making of financial statements for Vietnam’s JSC before their listing on foreign stock exchanges. Keywords: accounting standards, financial statement, differences, stock exchange, IFRS, IAS, VAS. 1. Problem As a member of the WTO, Vietnam must commit itself to opening its finance market, and thus the influx of foreign investors into Vietnam is inevitable. Differences between VAS and IAS will definitely produce adverse effects on business performance and comparability of financial statements of Vietnamese and foreign companies, and thereby increasing the cost of complying with regulations on financial statements of foreign countries. Furthermore, such differences may hinder the growth and internationalization of Vietnam’s enterprises. The flow of foreign 8 FINANCE AND REALTY MARKETS IN VIETNAM capital into Vietnam may veer to another country because foreign investors cannot thoroughly construe Vietnamese-style financial statements; and Vietnam’s joint-stock companies (JSC) may meet with difficulties in listing their shares on a foreign stock exchange. Therefore, to support the market economy, it is a must for Vietnam to make its accounting system comply with internationally accepted standards. Vietnam’s stock market has come into operation since 2000; and many Vietnam’s JSC have been listed on foreign stock markets. In order to protect benefits of .

• Đầu tư Chứng khoán
• Accounting standards
• Financial statement
• Stock exchange
• Joint stock companies
• Vietnam’s accounting standards
• International financial reporting standards
• Financial accounting
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Financial reporting
• Financial Accounting Standards Board
• Accounting undergraduate Honors theses
• Lobbying activity in the standards setting process
• Fasb statement on financial accounting standards no
• 106
• Postretirement benefits other than pensions
• logistic regression results
• Leverage position hypothesis
• Accounting for business
• Lecture Accounting for business
• Australian accounting standards
• Conceptual framework
• Financial reports
• Accounting Standard
• Tiêu chuẩn kế toán
• Chuẩn mực kế toán
• Accounting policies
• Accounting Standards Interpretations
• Accounting for Taxes on Income
• Social sciences
• Non publicly accountable entities
• Small and medium sized enterprises
• Standards for accounting professionals
• Reporting standards
• Compendium of accounting standards
• Lecture Accounting
• Managerial accounting
• Accounting information
• Accounting ethical standards
• Accounting for taxes
• Accounting Concepts
• Class Orders
• Accounting Exposure
• Corporations Act
• Lecture Financial accounting
• Management accounting
• Accounting equation
• Cost analysis
• What the numbers mean
• Earnings Per Share
• Construction Contracts
• Borrowing Costs
• Principles of financial accounting
• Accounting in business
• International standards
• Accounting assumptions