TAILIEUCHUNG - the irrelevance between ias and vas in presentatingnet profit affects information about the financial situation of enterprises

The result shows that the business statement set up with VAS leads to incorrect recognition of investors about business activities and financial position of the business. Because of that, creating a clear investment environment, providing accurate financial information sothat investors could always have the best conditions to come out with correct financial decisions, are extremely urgent. That depends on whether VAS can catch up and be in harmony with IAS. | Nguyễn Thu Ngân và Đtg Tạp chí KHOA HỌC & CÔNG NGHỆ 139(09): 97 - 100 THE IRRELEVANCE BETWEEN IAS AND VAS IN PRESENTATINGNET PROFIT AFFECTS INFORMATION ABOUT THE FINANCIAL SITUATION OF ENTERPRISES Nguyen Thu Ngan*, Luong Thi Mai Uyen, Ma The Ngan, Le Minh Thanh College of Technology - TNU SUMMARY Nowadays, there are many ways to apply international accounting standards for building up accounting standards of each country. Generally stating, that Vietnam has selectively applying IAS/IFRS (International Accounting Standards/International Financial Report Standards) models as the major basis for building its system of accounting standards systems. It is a reasonable choice. However, reality shows that Vietnam accounting standards (VAS) are not yet in harmony with international accounting standards (IAS). The article aims to point out the irrelevance between VAS and IAS in profit presentation from business activities, by analyzing business results report of a specific enterprise. The result shows that the business statement set up with VAS leads to incorrect recognition of investors about business activities and financial position of the business. Because of that, creating a clear investment environment, providing accurate financial information sothat investors could always have the best conditions to come out with correct financial decisions, are extremely urgent. That depends on whether VAS can catch up and be in harmony with IAS. Keywords: IAS/IFRS; VAS; business statement; financial incomes; financial expenses INTERNATIONAL ACCOUNTING * STANDARDS (IAS/IFRS) International Accounting Standard Committee (IASC) was established in June 1973 as a result of the agreement by the accounting bodies in Australia, Canada, France, Germany, Japan, Mexico, Netherlands, England and Ireland and the United States, and these countries were IASC Board at that time. A series of accounting standards, known as the International Accounting Standards, were released by the IASC between

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• international accounting standards
• International Financial Report Standards
• Vietnam accounting standards
• The financial situation of enterprises
• The financial of Vietnam
• Accounting standards
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