Law No. 03/2003/QH11 dated June 17, 2003 of the National Assembly on Accounting

THE NATIONAL ASSEMBLY -------	SOCIALIST REPUBLIC OF VIETNAM Independence- Freedom- Happiness ------------
No.03/2003/QH11	Hanoi, June 17, 2003

ACCOUNTING LAW

THE STATE PRESIDENT OF THE SOCIALIST REPUBLIC OF VIETNAM

In order to uniformly manage the accounting, ensuring that accounting be a tool for managing and supervising closely and efficiently all economic and financial activities, supplying information in a complete, truthful, timely, public and transparent manners, thereby meeting the organization, management and administration requirements of State agencies, enterprises, organizations and individuals;

Pursuant to the 1992 Constitution of the Socialist Republic of Vietnam, which was amended and supplemented under Resolution No. 51/2001/QH10 dated December 25, 2001 of the X^th National Assembly, its 10^thsession;

This Law provides for accounting,

Chapter I

GENERAL PROVISIONS

Scope of regulation

This Law prescribes the contents of accounting work, the organization of accounting apparatuses, accountants and professional accounting activities.

Subjects of application

1. The subjects of application of this Law include:

a) State agencies, non-business units and organizations which are funded with the State budget;

b) Non-business units and organizations which are not funded with the State budget;

c) Enterprises of all economic sectors, which are established and operate under the Vietnamese laws; branches and representative offices of foreign enterprises operating in Vietnam;