Guiding preparation of provincial state financial statements for 2021

	Improving quality of State financial statements
	Banks bad debt tends to increase
	Step by step completing State financial statements

The State Treasury guides the preparation of the provincial state financial statements for 2021.

Accordingly, level I estimating units without affiliated accounting units shall perform financial statements according to Circular 107/2017/TT-BTC of the Ministry of Finance guiding the administrative and non-business accounting regime (TT107) and perform additional reports on financial information according to Circular 99/2018/TT-BTC of the Ministry of Finance guiding the preparation of general financial statements of the state accounting unit which is a superior accounting unit; and report financial information provision on tangible and intangible fixed assets furnished to their units according to the prescribed form.

The level I estimating unit with an affiliated accounting unit shall perform the general financial statements and additional reports on financial information; and reports on financial information provision on tangible and intangible fixed assets according to the prescribed form.

The level I estimating unit is project management boards using public investment capital and does not have superior accounting units to prepare reports on financial information provision, including financial statements in accordance with the guidance in Circular 79/2019/TT- BTC and reports on financial information provision according to the prescribed form.

Other level I estimating units that have separate regulations on the preparation of financial statements or general (consolidated) financial statements are public non-business units (units ensure recurrent and investment expenditures by themselves), non-budget state financial funds shall apply separate regulations on the preparation of financial statements or general financial statements, preparation of reports on financial information provision including financial statements or general financial statements are prepared according to the guidance in the accounting regime applicable to the units.

The State Treasury notes that the units that do not have to prepare and send reports on financial information provision to the local State Treasury are socio-political-professional organizations; social organizations; socio-professional organizations; central units located in local areas (provincial/district labor unions; provincial/district police).

Provincial level I budgeting units that are split, consolidated, merged, converted, dissolved, or terminated in the fiscal year 2021 are not required to submit reports on financial information provision to the provincial State Treasury. New units, after splitting or merging, are responsible for making reports on financial information provision and sending them to the provincial State Treasury according to the instructions.

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