Accounting Standard for Property, Plant and Equipment Under IFRS and Its Applicability in Vietnam

This paper presents the differences regarding property, plant and equipment (PPE) between the International Financial Reporting Standards (IFRS) and the current Vietnamese regulations, particularly the Vietnamese Accounting Standards (VAS). It further analyzes the feasibility of applying IFRS in Vietnam’s accounting practice, especially in light of increasing demands for integration and financial transparency. The paper highlights benefits such as improved reporting quality and attractiveness to international investors, while also pointing out challenges like limited resources, professional capacity, and legal frameworks. Based on this analysis, several concrete recommendations are proposed to support the effective implementation of IFRS in Vietnam, aiming to harmonize international standards with domestic practices.