Applying International Accounting Standard 16 in Vinamilk

Abstract

The thesis studied International Accounting Standards 16 – Property, Plant and Equipment and Vietnamese Accounting Standard 03 – Tangible fixed asset. The author uses documentary synthesis methodology to point out the gaps between VAS 03 and IAS 16 in the process of transitioning financial reporting standards for Vietnamese enterprises. In addition, the author also interviewed one manager from the case company to give a deeper view into the process of implementing IAS 16: identify the difficulties and challenges, and plan to be more complete in IAS 16. Overall, this thesis will bring out the shortcomings and challenges when applying IAS 16, the differences between IAS 16 and VAS 03 in theory and practice, and the case company's plans, therefore brings out the recommendation for the company to be more familiar with IAS 16, which will help Vietnamese enterprises step into the applying process in 2025.