In the field of finance and accounting, the transformation of policies and regulations related to the application of international financial reporting standards in Vietnam is considered an important factor in helping businesses to integrate entry and access to an even higher level of international financial markets.
In the field of finance and accounting, the transformation of
policies and regulations related to the application of international financial
reporting standards in Vietnam is considered an important factor in helping
businesses to integrate entry and access to an even higher level of
international financial markets. To keep pace with those changes, during
2021 and early 2022, the Faculty of Accounting and Auditing under VNU
University of Economics and Business organized a series of seminars on
financial, accounting and tax policies for students. graduate students and
practitioners of the financial accounting profession to build a community of
research and sharing practical policy advice.
In the context of
globalization and comprehensive international integration, Vietnam's economy is
subject to the conventions of international general regulations, and at the
same time there is a change in the system of policies, laws, and thinking.
socio-economic management. In the field of finance and accounting, the
transformation of policies and regulations related to the application of
international financial reporting standards in Vietnam is considered an
important factor in helping businesses to integrate entry and access to an even
higher level of international financial markets. To keep pace with those
changes, during 2021 and early 2022, the Faculty of Accounting and Auditing
under the University of Economics - VNU organized a series of seminars on
financial, accounting and tax policies for students. graduate students and practitioners
of the financial accounting profession.
The topics of the
seminars showed diversity when discussing changes related to financial,
accounting, auditing, risk management and tax policies; exploited from
many different angles, from policy makers, practitioners to researchers at home
and abroad. Some seminars attracted a large number of interested people
such as " Accounting profit and taxable income", "The impact of
COVID-19 on accounting and auditing", "Management Information
Seminar: The Stage of Accounting" Practice", "Strategic Cost
Management"...
Highlights of the talk
show
With the theme "Accounting profit and taxable income", the seminar
attracted more than 50 participants. The speaker of the seminar was Ms.
Lang Trinh Mai Huong - Deputy Director of the School of Auditing and
Professional Training, State Audit; founder of Viet Resource Company
(Vietsourcing); served as the representative of Vietnam at the British
ACCA International Committee for the 2010-2011 term; The first
representative of Vietnam at the International Federation of Accountants (IAFC)
and an expert with more than 20 years of experience working and teaching in the
field of accounting - finance - auditing - tax. At the seminar, speaker
Lang Trinh Mai Huong shared his knowledge and experience in applying new
regulations on handling taxable income. She
received a lot of questions from students and guests on issues related to tax
legislation, accounting standards, and tax optimization in businesses, thereby
giving the exchanges stemming from many different perspectives. Also
in the talk, Dr. Nguyen Thi Hong Thuy - Dean of the Faculty of Accounting
and Auditing shared her experience in applying tax planning and new points in
the approach to determining accounting profit and taxable income in Vietnam.
Ms. Lang Trinh Mai Huong - Deputy Director of the School of
Auditing and Professional Training, State Audit at
the seminar " Accounting profit and
taxable income"
With the topic "The
impact of COVID-19 on accounting and auditing", expert Nguyen Manh
Hien from An Viet Auditing Company shared international accounting standards as
well as assessed the effects of COVID-19. -19 to accounting. Experts also
share about new regulations such as regulations of Vietnamese Financial Reporting
Standards (VFRS) on “Reports of Directors”, which requires management to
present aggregated information in the context of the financial statements, to
express opinions, as well as such as explaining goals and strategies. From
there, users of the information in the financial statements will clearly
understand the impacts of COVID-19 and the prospects of the business. The
expert also discussed the application of some standards in the international
financial reporting standard system such as IFRS 13 “Measurement of fair
value”, VAS 23/IAS 10 “Events arising after the closing date at the end of the
accounting period", VAS 01/IAS 01 "General Standard" or
"Presentation of the Financial Statements" applies to uncertainties
in accounting estimates and the going concern assumption. Experts
emphasize that assessing going concern is reporting all material uncertainties
that existed at the approval date of the financial statements in a clear and
concise manner. The company's board of directors also needs to present its
assessments and solutions to minimize the impact of COVID-19 on its business to
help readers understand the financial statements. compliance with the going
concern assumption.
Dr. Nguyen
Thi Hong Thuy - Dean of the Faculty of Accounting and Auditing, VNU-UEB,
discussed with speakers and students at the seminar
A series of seminars organized monthly by the Faculty of
Accounting and Auditing in the online form, with the participation of many
experts from domestic and international businesses and professional
associations.
With the theme
"Strategic Cost Management", the seminar brought together two The
speaker was Mr. Phan Le Thanh Long - Chief Representative of CMA Australia in
Vietnam, an expert with over 20 years of experience in auditing and consulting
and Dr. Nguyen Thi Phuong Dung, lecturer at Hanoi University of Science
and Technology with nearly 20 years of teaching and research experience in
accounting and auditing. At the seminar, expert Phan Le Thanh Long shared
about the application of Activity-based Costing in the fields of production and
services. He also shared about practical experience in Vietnamese
enterprises based on the consultations he has carried out, barriers and
difficulties when implementing at enterprises such as VietinBank, Hai
Confectionery Joint Stock Company. Ha or Military Industry and
Telecommunications Group (Viettel)… In which, Besides,
the speaker also shared important principles of lean management as well as
experiences to build a lean management system in the enterprise…
At
the talk, Dr. Nguyen Thi Phuong Dung shares her experience in applying
cost management reports in different types of businesses. She also gives
suggestions to start with modern cost management accounting techniques to help
accountants plan and control costs in all areas of an organization's
activities. apply techniques that are being applied at multinational firms in
data analysis in all aspects such as marketing, human resource management, risk
management, setting up control systems, and ending with reports. Management
aims at social responsibility and ensures the sustainable development of the
organization.
Speakers
Nguyen Thi Phuong Dung and Phan Le Thanh Long at the seminar "Strategic Cost Management"
Policy advice drawn
from the series of talks
With diverse topics,
the seminars aimed at a common point that was to make proposals to adjust the
system of policies and regulations, and at the same time to give suggestions in
practicing accounting and auditing profession.
Firstly, businesses need to
carefully prepare for the application of international financial reporting
standards according to the roadmap set out by the Ministry of Finance. In
particular, in the current period, it is necessary to pay attention to applying
standards related to the impact of COVID-19 on accounting and auditing.
Second, proactively plan
financial and tax plans towards the sustainable development of the
business. Businesses need to clearly define short-term and long-term goals
to determine appropriate strategies and responses in the changing business
environment. The application of new techniques in management accounting or
new accounting approaches should be aimed at the long-term goals of the
business, sustainable development. In particular, managers and businesses
also need to determine the operating mechanism, ensure compliance with
environmental regulations, innovate technology and improve production
efficiency.
Third, towards the
development of the digital economy, there needs to be a shift from businesses
and managers in the approach to formulating business management and
administration policies. As the cashless economy expands, policies need to
evolve accordingly. For businesses, the accounting system of enterprises
also needs to integrate, ensure optimal operation, effectively use the
integration of multi-dimensional goals of the accounting information system
including tax, Disclosure of information to related objects.
With attractive,
practical and attractive topics from reputable speakers, the seminar series of
the Faculty of Accounting and Auditing, University of Economics - VNU has
achieved great success and is highly appreciated. from the
participants. This is the starting point for the Faculty to continue to
continue its successes and expand the research and policy consultation
community.
<< Click here to see the title in Vietnamese.