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  • Accounting in a developing transitional economy: the case of Vietnam

    Author(s)
    Phi Anh, Doan Ngoc
    Nguyen, Tom
    Griffith University Author(s)
    Nguyen, Tom
    Year published
    2013
    Metadata
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    Abstract
    Purpose - To provide a comprehensive yet concise review of changes which have occurred in Vietnamese accounting regulations and practices since the mid-1980s, and an analysis of prospective developments. Design/Methodology/Approach - A combination of (a) analytical review and synthesis of information available from diverse sources, and (b) analysis of information obtained from interviews with 20 middle-to-senior practicing accountants. Findings - Over the past two decades, as Vietnam implemented economic liberalization and developed closer links with Western economies, its accounting system has changed accordingly. The ...
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    Purpose - To provide a comprehensive yet concise review of changes which have occurred in Vietnamese accounting regulations and practices since the mid-1980s, and an analysis of prospective developments. Design/Methodology/Approach - A combination of (a) analytical review and synthesis of information available from diverse sources, and (b) analysis of information obtained from interviews with 20 middle-to-senior practicing accountants. Findings - Over the past two decades, as Vietnam implemented economic liberalization and developed closer links with Western economies, its accounting system has changed accordingly. The current system is a mixture of conceptual and formal elements taken from Western accounting and some basic features and practices retained from the old (Soviet-style and French-influenced) system. Further convergence toward international practices is likely to be slow, especially in the SME sector and in large enterprises that do not attract capital from foreign sources. Developments in management accounting and the accounting profession are also reviewed. Originality/Value - The paper contributes to the literature by (a) providing structured and consistent information about a country which is reported only infrequently in the international literature, and (b) considering both the pros and cons of harmonizing with IAS/IFRS in a developing-country context.
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    Journal Title
    Asian Review of Accounting
    Volume
    21
    Issue
    1
    DOI
    https://doi.org/10.1108/13217341311316959
    Subject
    Accounting, auditing and accountability
    International accounting
    Management accounting
    Publication URI
    http://hdl.handle.net/10072/55460
    Collection
    • Journal articles

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