GROUP 3 K17 KTTH CLC Group CHAPTER 3 ACCOUNTING FOR ACTIVITIES FUNDED BY AIDS AND FOREIGN DEBT Presentation 2023 Type Of Enterprise Resource Planning Accounting principles 01 + Accounting principles f[.]
K17 KTTH CLC Group CHAPTER ACCOUNTING FOR ACTIVITIES FUNDED BY AIDS AND FOREIGN DEBT Presentation - 2023 Type Of Enterprise Resource Planning 01 Accounting principles + Accounting principles for aid revenue and foreign loans + Accounting principles for using aid revenue and foreign loans 02 03 Accounting documents used Accounting accounts used Accounting methods for some major economic activities 04 05 + Accounting for temporary collection of foreign loan aid Examples of major operations Accounting principles 1.1 Principles of accounting for foreign aid and loan revenues This account is used for administrative and public service units to reflect the receipt and use of nonrefundable aid or foreign loans owned by the project owner - - In case the unit has many aid programs and projects or foreign loans, the accountant must track each program and project in detail; details of aid projects and private loan projects; Each program and project is reported separately according to the prescribed form In addition, it must be reported to sponsors and lenders if required 1.1 Principles of accounting for foreign aid and loan revenues The unit receiving aid and foreign loans is responsible for managing and using foreign aid and loans in accordance with the provisions of Vietnamese law and agreements and commitments with the parties, grants, loans Foreign aid and loans that the unit receives and uses are recorded as the unit's revenue and expenses Particularly in the case of using aid sources to invest and purchase fixed assets, raw materials, materials, tools, and instruments imported into warehouse (exported for gradual use) it is a one-time funding that the unit uses for many years ( or issued for gradual use during the year) is recorded as an unrecorded advance receipt - The unit records revenue in accordance with the actual situation of using assets, raw materials, materials, tools and supplies (ie when the unit releases raw materials, materials, tools and instruments for use) or to the extent that depreciation of fixed assets is reflected in expenses, at the end of the year it is reflected in aid and foreign loan revenues corresponding to the amount of depreciation calculated or the number of raw materials, materials, tools and instruments exported during the year period) 2.2 Accounting principles for using foreign aid and loan revenues "Costs from foreign aid and loans" are only used in units that receive foreign nonrefundable aid in which the unit is assigned to be the project owner and the units that receive receive loans from foreign countries of which the unit is the beneficiary In case the unit has many aid programs or projects or foreign loans, the accountant must open a book to track detailed costs for each program or project and collect costs to monitor management requirements