Welcome to Vinasc
Audit – Tax – Advisory
Vinasc network is operating in 3 provinces, cities of VietNam with more than 50 staff devotedly providing high-quality auditing, accounting, tax consulting, and legal advice services. Vinasc had varied services, provide the most effective ways of organizing activities in Vietnam to clients. We also provide early warning and support you to deal with risks.
Vinasc is established and operates under the Law on Enterprises of Vietnam. During operation, we are always comply with regulations and conditions on providing services and practice management of Ministry of Finance. Our services include:
If you are interested in Vinasc’s services, please contact us at the following information. We will send a letter of quotation to your company for your convenience.
RECOGNITION OF TANGIBLE FIXED ASSETS 06. Criteria for recognition of tangible fixed assets: To be recognized as tangible fixed assets, assets must meet simultaneously all the following four (4) recognition criteria: a/ Future economic benefits will surely be obtained; b/ Their historical cost has been determined in a reliable way; c/ Their useful life is estimated at more than one year; d/ They meet all value criteria according to current regulations. 07. Tangible asset accounting is classified by groups of assets of the same nature and [...]
NET REALIZABLE VALUE AND SETTING UP OF THE INVENTORY PRICE DECREASE RESERVE 18. The value of inventories cannot be fully recovered when they become damaged, outmoded, their selling prices fall or the finishing and/or sale costs rise. The marking-down of inventories to the level equal to the net realizable value is compliant with the principle that assets must not be shown at a value higher than the realized value estimated from their sale or use. 19. At the end of the [...]
DETERMINATION OF THE VALUE OF INVENTORIES 04. Inventories are valued according to their original prices. Where the net realizable value is lower than the original price, they must be valued according to the net realizable value. ORIGINAL PRICES OF INVENTORIES 05 The original price of inventories consists of the purchasing cost, processing cost and other directly-related costs incurred for having the inventories stored in the present place and conditions. Purchasing cost 06. The purchasing cost of inventories consists of the buying price, non-refundable taxes, [...]