INTERNATIONAL FINANCIAL REPORTING

The thesis discusses the Impact of International Financial Reporting Standards (IFRS) on Banks operating in Viet Nam. The goal is to investigate how the adoption of IFRS would change financial practices in Vietnamese Banking Industry and what Bank managers should be prepared for. The thesis use case study method to gain in-depth knowledge about the issue. The case study consisted analysis of Financial Reports from three well-known Banks in Viet Nam. The thesis first introduce about Banking history in Viet Nam then the current status of Banking Industry. After that, the study continue to look into differences in Financial Reports between a typical company and a Bank before analyzing the differences between Vietnamese Accounting Standards (VAS) and IFRS. Furthermore, the thesis includes an important section, discussing the effects of IFRS in Bank’s accounting practice in Viet Nam if it is to be implemented. These effects derived from differences between VAS and IAS because changes in Accounting and Operation of Banks would need to be made in order to meet the requirements of IFRS, which are, in general, stricter than those of VAS. Last but not least is the case study of three major Banks in Viet Nam: EXIM Bank, Vietin Bank and ACB. Each bank represent a certain type o