Bookkeeping & Financial Reporting

Vietnam uses Vietnamese Accounting Standards (VAS), a locally developed framework issued by the Ministry of Finance. While VAS shares some concepts with IFRS, there are significant differences in areas like revenue recognition, lease accounting, and financial instrument classification. All enterprises operating in Vietnam must maintain their books under VAS.

Yes. While your statutory books are maintained under VAS, we deliver management reporting packages in the format your headquarters requires — whether that's IFRS-aligned, US GAAP-mapped, or a custom template. Reports are always delivered bilingually in English and Vietnamese.

Vietnam mandates electronic invoices under Decree 123/2020. We handle the full e-invoicing cycle: issuance, transmission to the General Department of Taxation, and integration with your accounting records. We work with all major e-invoicing providers in Vietnam.

We work with MOF-approved accounting platforms including MISA, AccNet, and Fast Accounting. The choice depends on your business size, complexity, and headquarters' requirements. For multi-entity operations, we can also integrate with international ERP systems.

Standard turnaround is by the 15th of the following month. For clients who need faster reporting (e.g., listed parent companies), we offer an accelerated cycle with reports delivered by the 10th. Turnaround depends on timely receipt of source documents from your side.

When tax authorities inspect your books, our team handles the full preparation: organizing documentation, coordinating with your Chief Accountant, and assisting during the inspection itself. Well-maintained books significantly reduce the risk and duration of inspections.