Financial data reporting regulations Vietnam

According to Circular 99/2025/TT-BTC, from January 1, 2026, the financial reporting system of enterprises will undergo a significant change: the “Balance Sheet” will be replaced by the “Statement of Financial Position”. This change in report name also entails adjustments to the form and content presentation according to the new regulations. Enterprises need to pay attention to the requirements for updating data, indicators, and report preparation methods to ensure compliance when applying from the 2026 fiscal year.

1. Replacement of Balance Sheet with Statement of Financial Position from January 1, 2026

On October 27, 2025, the Ministry of Finance issued Circular 99/2025/TT-BTC guiding the accounting regime for enterprises. This document takes effect from January 1, 2026 and applies to fiscal years beginning on or after this date.

1.1. Current Regulations on Financial Reporting Systems (Circular 200/2014/TT-BTC)

According to Article 100 of Circular 200/2014/TT-BTC, a company’s financial reporting system includes annual reports and interim reports. The forms currently in use are issued in Appendix 2 of the Circular. Companies are allowed to:

  • Omit items that do not generate data.
  • Renumber items to ensure continuity and logic for each section.

Specifically, the current annual financial report includes:

  • Balance Sheet – Form B01-DN.
  • Income Statement – Form B02-DN.
  • Cash Flow Statement – Form B03-DN.
  • Explanatory Notes to Financial Statements – Form B09-DN

For interim financial statements, Circular 200 stipulates two forms: full and summarized, in which the interim balance sheet is a mandatory component in both forms.

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1.2. New Regulations under Circular 99/2025/TT-BTC

Article 17 of Circular 99/2025/TT-BTC defines the corporate financial reporting system as continuing to include four types of reports:

  • Statement of Financial Position.
  • Statement of Income.
  • Statement of Cash Flows.
  • Explanatory Notes to Financial Statements.

For going concern businesses, the annual financial statements include:

  • Statement of Financial Position – Form B01-DN.
  • Statement of Income – Form B02-DN.
  • Cash Flow Statement – Form B03-DN.
  • Notes to Financial Statements – Form B09-DN

Thus, Form B01-DN will no longer be called the “Balance Sheet” but will be renamed the “Statement of Financial Position” according to the new regulations.

2. Requirements for Information Presented in Financial Statements

According to Article 19 of Circular 99/2025/TT-BTC, the data presented in financial statements must meet criteria ensuring transparency and usefulness for readers. Specifically:

  • Fair and reasonable reflection: The information presented must accurately reflect the financial situation, business results, cash flow, and related economic factors of the enterprise; ensuring integrity, objectivity, and not distorting the nature of the business.
  • Complete necessary information: The report must provide all the data that users need to correctly understand the economic content and the risks involved. Where qualitative factors (such as quality or potential impact) are present, they must be clearly noted and described.
  • Objectivity and neutrality: Data must not be presented in a biased manner or altered in meaning for any purpose.
  • No material misstatements: Reports must not omit significant information or contain substantial misstatements. For accounting estimates, the entity must explain the basis of the estimate and related limitations; figures are considered reasonable if the estimation process is transparent and appropriate.

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  • Information capable of supporting decision-making: Content must be relevant to the needs of users, supporting economic evaluation and decision-making.
  • Providing material information: Materiality is considered in terms of scale, nature, or both. Missing or inaccurate information can affect the reader’s judgment.
  • Verifiable, timely, and easily understandable: Data must be verifiable, provided at the right time, and presented clearly for easy user access.
  • Consistent across periods: Information must be presented using the same methodology to ensure comparability. If a business changes its going concern assumption, it must explain the reasons and adjust the comparative figures; if adjustment is not possible, the reasons must be clearly stated.

The replacement of the Financial Statement reporting template system under Circular 99/2025/TT-BTC marks a significant step in standardizing and increasing transparency in accounting information. The new set of templates and detailed presentation requirements help businesses fully and accurately reflect their financial situation and business operations.

Businesses need to proactively update and review their reporting processes to ensure compliance with the new regulations, avoiding errors and improving the quality of reports for management and information disclosure.

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