IFRS

Introduction As businesses expand through acquisitions, mergers, and investments in subsidiaries, preparing a single set of financial statements becomes increasingly important. Investors, lenders, regulators, and other stakeholders need to understand the financial position and performance of the entire corporate group—not just each legal entity individually. This is where consolidated financial statements come into play. Consolidation is often considered one of the most chall

Introduction As Vietnam continues its journey toward international financial reporting convergence, the Ministry of Finance has introduced Circular 99/2025/TT-BTC ("Circular 99") to modernize financial reporting requirements and align Vietnamese accounting practices more closely with global standards. Although Circular 99 represents a significant improvement in financial reporting transparency, it is not equivalent to International Financial Reporting Standards (IFRS). Many V

Introduction As businesses become increasingly global, financial reporting standards have become more important than ever. Investors, lenders, regulators, and multinational corporations require financial statements that are transparent, reliable, and comparable across borders. Today, two major accounting frameworks dominate the world: US GAAP (Generally Accepted Accounting Principles) — primarily used in the United States. IFRS (International Financial Reporting Standards) —

One of the most important accounting decisions during inventory production is determining whether a cost should be capitalized into inventory or expensed immediately. The treatment affects profitability, assets, taxes, key financial ratios, and management performance metrics. Under IAS 2 Inventories, costs directly attributable to bringing inventory to its present location and condition must be capitalized, while abnormal and period costs must be expensed. Overview Treatment

Introduction Sale and leaseback transactions have long been used by businesses as a financing tool to unlock cash tied up in assets while retaining the right to continue using those assets. Common examples include: Manufacturing companies selling factories and leasing them back Airlines selling aircraft and leasing them back Retailers selling store properties and leasing them back Logistics companies selling warehouses and leasing them back Although these arrangements can imp

Introduction Leasing is one of the most common financing arrangements used by businesses worldwide. Companies lease office spaces, warehouses, vehicles, machinery, equipment, and even data centers instead of purchasing them outright. Before IFRS 16, many leases were classified as operating leases and remained off the balance sheet. This often made companies appear less leveraged than they actually were. To improve transparency and comparability, the International Accounting S

Introduction When a company acquires control over another company, it is required to present the financial position and performance of the group as if it were a single economic entity. This process is known as consolidation. The governing standard is IFRS 10 – Consolidated Financial Statements, which establishes the principles for determining control and preparing consolidated financial statements. This guide explains the consolidation process step-by-step and provides a prac

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