On May 18, 2015, the Ministry of Finance issued the Circular No. 75/2015/TT-BTC amending the Article 128 of the Circular No. 200/2014/TT-BTC dated December 22, 2014 guiding the accounting policies for enterprises.
In accordance with this Circular’s regulation, every enterprise which is required to prepare interim financial statements (quarterly financial statements and semiannual financial statements) may decide whether to follow Decision No. 15/2006/QD-BTC dated March 20, 2006 of the Minister of Finance on issuance of accounting policies for enterprises or this Circular to prepare interim financial statements of 2015. The annual financial statement of 2015 must comply with regulations of the Circular No. 200/2014/TT-BTC dated December 22, 2014.
Similarly with previous regulations, this Circular also prescribes that before the Accounting Standard for financial instruments and guiding documents on the implementation of Accounting Standards of financial instruments are issued, accounting units are recommended (but not required) to present and describe financial instruments as prescribed in Circular No. 210/2009 / TT-BTC dated November 06, 2009 of the Ministry of Finance on guidelines for application of International Accounting Standards for presentation of financial statements and description of financial instruments.
This Circular takes effect on July 14, 2015.
