How to convert the currency to account VND to USD

account VND to USD


Pursuant to Article 108 of Circular No. 200 / 2014 / TT-BTC dated 22 / 12 / 2014 of the Ministry of Finance for implementation

Article 108. Principles for making financial statements when changing currency units in accounting

  1. When changing the accounting currency, in the first period since the change, the accountant converts the accounting book balance into the new accounting currency according to the transfer rate of a commercial bank. Business where businesses often have transactions at the day of changing currency in accounting.
  2. Exchange rate applicable to comparative information (previous period column) on the Report on business results and cash flow statement:

When presenting comparative information on the report on business results and cash flow statement of the period of change of the currency unit in accounting, the unit applies the average exchange rate in the previous period. next to the change period (if the average rate is approximately the actual exchange rate).

  1. When changing the currency unit in accounting, the enterprise must clearly state in the Notes to the financial statements the reason for changing the currency unit in accounting and the effects (if any) on the financial statements. due to changing currency units in accounting.