Categories Accounting

What are the basic differences between Vietnamese Accounting Standards (VAS) and International Accounting Standards (IFRS)?

Answer:

At present, no further standards have been issued, so there are still many standards in comparison with international practices such as agricultural standards, mineral resources exploration and exploitation, group of financial instruments, fair value, loss of assets, …. causing difficulties for the preparation and presentation of financial statements, in particular, Vietnam has not issued 17 specific accounting standards as follows:

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