CONCLUSION

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Learn and capture the application of technological revolution 4.0, into the general business management process and accounting process in particular. From the collection, processing and import of accounting documents to the process of processing, providing and analyzing information.

Thereby seeing the characteristics of accounting information through the application of information technology to determine the audit approach to organize audit activities to achieve efficiency and quality.

Focus on network security issues. Need to invest, equip security and security solutions, regularly check and supervise compliance with security and security regulations; detect and promptly handle security vulnerabilities; improve financial capacity, unit management, especially risk management; Ensure the secret of accounting and auditing information of individuals, enterprises and organizations.

Investing in building modern infrastructure, strengthening regional and international integration to meet the requirements of high quality financial universalization for the economy;

Developing diversified accounting-auditing services with high knowledge and high-tech content;

improve access to accounting and auditing services of enterprises and organizations.

The Technological Revolution 4.0 is in the early stages, the hinge period for developing countries to keep up with the world trend. The technological revolution 4.0 is the foundation for a strong transition economy from a model based on natural resources and labor costs to knowledge economy;

Make basic changes in concept of technological innovation and equipment in the production lines.

However, factors are considered the advantages of developing countries including Vietnam such as young manual workforce, low cost will no longer. Therefore, in general management and auditing activities in particular, to make good use of the opportunity and overcome the risks and challenges from the Technological Revolution 4.0, the issue of human resource exploitation, especially building and developing high quality human resources is the problem being set for Vietnam. The field of accounting and development auditing will face the excess of manual labor and lack of high quality human resources. Therefore, the training and improving the quality of human resources in general and auditing activities in particular, the state management agencies, laborers for employers, professional associations and training institutions need to be determined to be necessary and urgent. The concern and implementation of issues such as: legal system of auditing accounting; Scale and quality of human resource training of higher education institutions and the ability to meet the requirements of enterprises and labor markets; Knowledge, skills and qualities needed for auditing human resources in the context of globalization, international integration and impact of technology revolution 4.0;

Cooperation between training institutions and auditing enterprises in program development and development; inspection of training quality, ensuring standard output; Cooperation between training institutions and enterprises in career consultancy, training, organizing and practicing organizations;

Advice and start-up support; Job creation for students ... with synchronously implementing solutions in many aspects and are done by relevant parties, hoping human resources for independent auditing activities will be dated Meeting the current job requirement and the higher and higher international labor trend./.

REFERENCES:

1. Laws and regulations, principles and standards on auditing

2. MSc. Nguyen Thi Thanh Tham, Accounting-Audit and the industrial revolution 4.0

3. Pham Tien Hung (2014), Vietnamese Auditor in the Current Context: Implementation and Solutions. Proceedings of the National Scientific Conference “Accounting and Auditing in the Process of Improvement and Integration”, University of Economics -The University of Danang

4. Pham Tien Hung (2017), Bachelor of Accounting and Auditing at Universities in Vietnam – Current Situation and Solutions. The National Economics University Publishing House 5. Pham Tien Hung, Nguyen Minh Chau, Nguyen Thi Phuong Thao (2018), Internal audit in the

era of industrial revolution 4.0 for sustainable development in the organization”. Proceedings of the international scientific conference economic.

6. Pham Tien Hung (2019), Industrial Revolution 4.0 with Accounting and Auditing. Proceedings of the National Conference, University of Commerce, Academy of Finance, ICAEW.

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7. Pham Tien Hung (2019), Accounting and Auditing profession in the Industrial revolution 4.0:

issues and implications for Vietnam. International Conference 2019

8. Pham Tien Hung (2020), Professional ethical standards directive auditor’s mind and action in financial statement audit due to Covid 19. Proceedings of the international conference, AOF SEDBM 2020

9. Vuong Dinh Hue, Strategic orientation and solutions for building and developing the audit system in Vietnam in the period of industrialization and modernization of the country. State-level scientific project;

10. The Industrial Revolution 4.0 affects labor in Vietnam’s accounting industry, Journal of Accounting and Auditing, No. 3/2019

PhD. Bui Thi Hang¹, M.Phil. Pham Thi Xinh¹

Abstract: Vietnam is a country having an advantage in agriculture. In recent years, with the targets to modern agriculture and sustainable development, Vietnamese agriculture is attracting both local investment and foreign investment. Transparency of information on financial statements as well as creating confidence for investors is always the top concern of the state to attract capital investment in high-risk fields such as agriculture. For agricultural enterprises, biological assets usually account for a large proportion of total assets, but in Vietnam there is currently no accounting standard for the agricultural sector. This problem has significantly affected on the recognition and presentation of the agricultural enterprise’s asset value.

The topic focuses on studying regulations in agricultural accounting in Vietnam at the moment, especially the differences in the recognition of biological assets and biological products when applying Vietnamese accounting standards (VAS), the Vietnamese accounting system and the international accounting standards on agriculture (IAS41) to make transparent in financial information of enterprises as well as remove barriers, thereby helping agribusinesses to attract cheap capital sources from both domestic and international market.

Key words: IAS41, agribusiness, biological assets, accounting.

1. INTRODUCTION

In the economy, agriculture is the industry that plays an important role in suppling food to feed people. In Vietnam, agriculture is an important economic sector which contributes a large proportion of GDP. Along with the development of the economy, agricultural activities have gradually shifted from small-scale production to large-scale and modern production. Therefore, it is necessary to have many tools for management, in which accounting is one of the indispensable tool for business management and administration. Up to this point, agriculture was the only industry selected by the International Accounting Standards Board (IASB) to draft accounting standards.

International accounting standards on agriculture were promulgated and took effect on January 1, 2003. This shows that the agricultural sector plays an important role in the economy not only in developing countries like Vietnam but also in developed countries. Currently, the enterprises operating in the agricultural sector has not had accounting standards issued separately in Vietnam, but this accounting regime applies to enterprises of all fields of activity and all economic sectors in the country. This makes it difficult for businesses operating in the agricultural sector in particular and for the management of state agencies in general.

The current Vietnamese accounting standards do not have accounting standards for agriculture, so the accounting in agricultural enterprises is governed by accounting standards such as inventory accounting standards (VAS 02) – for biological assets that are not yet eligible to be recognized as

1 Email: hangkt@hvtc.edu.vn Academy of Finance

150 THE THIRD INTERNATIONAL CONFERENCE ON: “FINANCE AND ACCOUNTING FOR THE PROMOTION OF SUSTAINABLE...

fixed assets. For biological assets that are eligible to be recognized as fixed assets, they are tracked through three criteria: historical cost, accumulated depreciation and residual value according to tangible fixed asset accounting standards (VAS 03) ). Therefore, studying the international accounting standard No. 41 - Agriculture is necessary to further improve the accounting regulations in the agricultural sector in Vietnam togerther with being in line with international accounting practices...