{"id":999980293,"date":"2026-03-16T12:12:06","date_gmt":"2026-03-16T05:12:06","guid":{"rendered":"https:\/\/bizzi.vn\/?p=999980293"},"modified":"2026-06-03T23:31:16","modified_gmt":"2026-06-03T16:31:16","slug":"data-distance-vas-and-ifrs","status":"publish","type":"post","link":"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/","title":{"rendered":"Comparing the Data Gap Between VAS and IFRS: 3 &quot;Achilles&#039; Heel&quot; &amp; Automation Solutions"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The transition from VAS to IFRS is not simply a change in accounting entries, but a revolution in data. While VAS accepts aggregated data based on invoices, IFRS requires granular data based on economic conditions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This article by Bizzi analyzes... <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> This study identifies the three biggest vulnerabilities (IFRS 15, 16, and 9) and proposes an automation roadmap using RPA and EPM to help CFOs build a &quot;clean data source&quot; before entering IFRS 2026.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Index<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Su_khac_nhau_giua_VAS_va_IFRS_Goc_nhin_tu_Cau_truc_Du_lieu\" >The Differences Between VAS and IFRS: A Data Structures Perspective<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Rule-based_vs_Principle-based_Khac_biet_tu_duy_tao_ra_khac_biet_du_lieu\" >Rule-based vs. Principle-based: Differences in thinking create differences in data.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Tai_sao_%E2%80%9CDo_min_du_lieu%E2%80%9D_Data_Granularity_la_rao_can_lon_nhat\" >Why is &quot;Data Granularity&quot; the biggest obstacle?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#3_Khoang_cach_Du_lieu_Trong_yeu_Giai_phap_Tu_dong_hoa\" >3 Critical Data Gaps &amp; Automation Solutions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Khoang_cach_Ghi_nhan_Doanh_thu_theo_IFRS_15\" >Revenue Recognition Gap under IFRS 15<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Xu_ly_Du_lieu_Hop_dong_Thue_tai_san_theo_IFRS_16\" >Processing Lease Agreement Data under IFRS 16<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Mo_hinh_Ton_that_tin_dung_du_kien_ECL_theo_IFRS_9\" >Expected Credit Loss (ECL) model under IFRS 9\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Chien_luoc_%E2%80%9CMiddleware%E2%80%9D_Van_hanh_song_song_VAS_IFRS_khong_can_nhap_lieu_kep\" >The &quot;Middleware&quot; strategy: Operating VAS &amp; IFRS in parallel without double data entry.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Bang_so_sanh_Du_lieu_VAS_vs_IFRS\" >Comparison Table of VAS vs IFRS Data<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Lo_trinh_Chuyen_doi_so_Tai_chinh_cho_IFRS_2026\" >Financial Digital Transformation Roadmap for IFRS 2026<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Giai_doan_1_Chuan_hoa_du_lieu_nguon_%E2%80%93_Nen_mong_cua_IFRS\" >Phase 1: Standardizing Source Data \u2013 The Foundation of IFRS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Giai_doan_2_Tu_dong_hoa_quy_trinh_giao_dich_%E2%80%93_Tao_du_lieu_%E2%80%9Cdu_min%E2%80%9D\" >Phase 2: Automating the trading process \u2013 Creating &quot;sufficiently smooth&quot; data<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Giai_doan_3_Trien_khai_he_thong_bao_cao_hop_nhat_%E2%80%93_Reporting_Automation\" >Phase 3: Deployment of a unified reporting system \u2013 Reporting Automation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Diem_khac_biet_cua_lo_trinh_nay\" >The difference of this route<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Cau_hoi_thuong_gap_ve_Chuyen_doi_Du_lieu_VAS_%E2%80%93_IFRS_FAQ\" >Frequently Asked Questions about VAS \u2013 IFRS Data Conversion (FAQ)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Hoi_Chuyen_doi_sang_IFRS_co_can_thay_doi_phan_mem_ke_toan_khong\" >Question: Does switching to IFRS require changing accounting software?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Hoi_Du_lieu_nao_kho_thu_thap_nhat_khi_lam_IFRS_16\" >Question: What data is most difficult to collect when implementing IFRS 16?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Hoi_Su_khac_nhau_lon_nhat_giua_ghi_nhan_doanh_thu_VAS_va_IFRS_la_gi\" >Question: What is the biggest difference between VAS and IFRS revenue recognition?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Hoi_Lam_sao_de_xu_ly_chenh_lech_thue_giua_VAS_va_IFRS\" >Question: How do I handle the tax discrepancies between VAS and IFRS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Hoi_Bizzi_co_thay_the_duoc_phan_mem_ke_toan_khi_lam_IFRS_khong\" >Question: Can Bizzi replace accounting software when implementing IFRS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Hoi_Chi_phi_chuyen_doi_he_thong_du_lieu_cho_IFRS_co_cao_khong\" >Question: How much does it cost to convert a data system to IFRS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Hoi_Du_lieu_nao_thuong_bi_thieu_nhat_khi_chuyen_sang_IFRS_9\" >Question: What data is most commonly missing when transitioning to IFRS 9?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/bizzi.vn\/en\/data-distance-vas-and-ifrs\/#Ket_luan_IFRS_la_bai_toan_du_lieu_khong_phai_bai_toan_ke_toan\" >Conclusion: IFRS is a data problem, not an accounting problem.<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Su_khac_nhau_giua_VAS_va_IFRS_Goc_nhin_tu_Cau_truc_Du_lieu\"><\/span><strong>The difference between VAS and <a href=\"https:\/\/bizzi.vn\/chuan-muc-ifrs-la-gi\/\">IFRS<\/a>: A Data Structures Perspective<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Before delving into the details of each standard, CFOs need to redefine the issue from a data architecture perspective rather than purely accounting law.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The data gap between VAS and IFRS lies in the difference in granularity and attributes of the information to be collected. While VAS focuses on legal documents and historical cost, IFRS requires data on economic nature, market value, and future estimates that traditional accounting systems often overlook.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In other words, when comparing IFRS and VAS, the difference lies not only in the standards but also in the metadata \u2013 that is, the hidden data fields behind a transaction.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Rule-based_vs_Principle-based_Khac_biet_tu_duy_tao_ra_khac_biet_du_lieu\"><\/span><strong>Rule-based vs. Principle-based: Differences in thinking create differences in data.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When analyzing <\/span><b>The difference between VAS and IFRS<\/b><span style=\"font-weight: 400;\">This can be reduced to two philosophies:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Criteria<\/b><\/td>\n<td><b>VAS (Rule-based)<\/b><\/td>\n<td><b>IFRS (Principle-based)<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Thinking<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The hard rule<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Principle of Flexibility<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Recording basis<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Legal form<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Substance over Form (economic nature)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Data<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Static, based on invoices.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Dynamic, based on contract terms.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">For example<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bill date<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Date of transfer of control<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">This difference leads to a dangerous reality: Current accounting databases often lack non-financial data fields such as extension terms, performance obligations, implicit interest rates, probability of default, etc.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If a business attempts to &quot;patch&quot; the situation using Excel, the risk of losing the Audit Trail and encountering consolidation discrepancies is almost certain.<\/span><\/p>\n<figure id=\"attachment_999980294\" aria-describedby=\"caption-attachment-999980294\" style=\"width: 1214px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-999980294 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-1.jpg\" alt=\"data-distance-vass-and-ifrs\" width=\"1214\" height=\"623\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-1.jpg 1214w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-1-300x154.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-1-1024x525.jpg 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-1-768x394.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-1-18x9.jpg 18w\" sizes=\"(max-width: 1214px) 100vw, 1214px\" \/><figcaption id=\"caption-attachment-999980294\" class=\"wp-caption-text\">When comparing IFRS and VAS, the difference lies not only in the standards but also in metadata \u2013 that is, the hidden data fields behind a transaction.<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Tai_sao_%E2%80%9CDo_min_du_lieu%E2%80%9D_Data_Granularity_la_rao_can_lon_nhat\"><\/span><b>Why is &quot;Data Granularity&quot; the biggest obstacle?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Switching from Historical Cost to Fair Value requires CFOs to process continuously changing data instead of a single transaction at the time of purchase.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, a contract worth 1 billion VND:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">VAS: 1 revenue stream of 1 billion.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IFRS: May need to be broken down into 8\u201310 lines including goods, services, discounts, and implicit interest rates.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is the center of <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\">IFRS requires &quot;breaking down&quot; transactions into multiple components. Excel becomes nearly impossible when the volume increases.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Asset Value (IFRS) = Market Price at the reporting date \u00b1 Adjustment<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This makes the data dynamic rather than static. CFOs need EPM systems like EPM to store multiple versions of valuations and run Scenario Planning instead of manually adjusting each period. This difference in data structure will be most evident in three standards: IFRS 15, IFRS 16, and IFRS 9.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_Khoang_cach_Du_lieu_Trong_yeu_Giai_phap_Tu_dong_hoa\"><\/span><strong>3 Critical Data Gaps &amp; Automation Solutions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><i><span style=\"font-weight: 400;\">Below is an overview table when <\/span><\/i><b><i>Comparison of IFRS and VAS<\/i><\/b><i><span style=\"font-weight: 400;\"> From a data perspective:<\/span><\/i><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Criteria<\/b><\/td>\n<td><b>VAS data<\/b><\/td>\n<td><b>IFRS data<\/b><\/td>\n<td><b>Processing technology<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Recording basis<\/span><\/td>\n<td><span style=\"font-weight: 400;\">VAT invoice<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The nature of the contract<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bizzi Bot \u2013 line-item extraction<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Valuation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Historical Cost<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Fair Value \/ PV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">EPM \u2013 Multi-scenario<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Revenue<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Total bill<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Obligation to perform<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bizzi AI Allocation<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Preventive<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Incurred Loss<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Expected Credit Loss<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bizzi ARM<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Compare<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Excel<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Automated<\/span><\/td>\n<td><span style=\"font-weight: 400;\">RPA 3-way matching<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"Khoang_cach_Ghi_nhan_Doanh_thu_theo_IFRS_15\"><\/span><strong>Revenue Recognition Gap under IFRS 15<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In <\/span><b>Differences in revenue recognition between VAS and IFRS<\/b><span style=\"font-weight: 400;\">IFRS 15 creates the largest data gap. The revenue recognition gap under IFRS 15 lies in separating performance obligations from the total invoice. The data needed includes not only the amount but also independent retail prices, return terms, and completion schedules \u2013 information often missing from the VAS system.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">VAS records transactions based on VAT invoices. IFRS records transactions in five steps, specifically allocating the Transaction Price to each Performance Obligation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Example: Selling a car with free maintenance included.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">VAS: 1 revenue line.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IFRS: Vehicle revenue (recorded immediately) + Maintenance revenue (recorded retrospectively).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The discrepancies here directly impact KPIs and EBITDA. The technological solution:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bizzi Bot extracts each line item.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automatic mapping for classifying goods\/services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPM allocates revenue according to IFRS accounting periods.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Xu_ly_Du_lieu_Hop_dong_Thue_tai_san_theo_IFRS_16\"><\/span><strong>Processing Lease Agreement Data under IFRS 16<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If IFRS 15 changes revenue, then... <a href=\"https:\/\/bizzi.vn\/ifrs-16-la-gi-ifrs-16-anh-huong-den-doanh-nghiep-ra-sao\/\">IFRS 16<\/a> This alters the balance sheet. IFRS 16 requires capitalization of the right to use assets and recognition of lease liabilities, instead of accounting for lease expenses on a periodic basis as in VAS.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The data gap is located at:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Implicit interest rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lease term<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Option to renew<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Future cash flows<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These data are contained in the contract PDF file \u2013 that is, unstructured data. Right-of-Use Asset and Lease Liability increased EBITDA but significantly boosted the Debt Ratio. This is a sensitive point for banks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Solution:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bizzi Contract digitizes contracts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extract data fields into structured data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EPM automatically calculates the Amortization Schedule and generates Journal Entries IFRS.<\/span><\/li>\n<\/ul>\n<figure id=\"attachment_999980295\" aria-describedby=\"caption-attachment-999980295\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999980295\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-2.jpg\" alt=\"data-distance-vass-and-ifrs\" width=\"1200\" height=\"675\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-2.jpg 1920w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-2-300x169.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-2-1024x576.jpg 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-2-768x432.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-2-1536x864.jpg 1536w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-2-18x10.jpg 18w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-999980295\" class=\"wp-caption-text\">In terms of revenue recognition differences between VAS and IFRS, IFRS 15 creates the largest data gap. This revenue recognition gap under IFRS 15 lies in the separation of performance obligations from the total invoice.<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Mo_hinh_Ton_that_tin_dung_du_kien_ECL_theo_IFRS_9\"><\/span><strong>Expected Credit Loss (ECL) model under IFRS 9\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">IFRS 9 standards create <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> Regarding risk mitigation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IFRS 9 requires provisions to be made based on Expected Credit Loss instead of Incurred Loss.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">ECL = PD \u00d7 LGD \u00d7 EAD<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The problem is that Vietnamese businesses often don&#039;t keep enough payment history to calculate provisioning. IFRS requires provisions even if a customer is not yet overdue if they belong to a high-risk group.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi ARM helps:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Summary of payment history.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Analyze Payment Trends.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Assisting CFOs in building PD parameters based on real data rather than estimates.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is where many businesses fail when transitioning.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chien_luoc_%E2%80%9CMiddleware%E2%80%9D_Van_hanh_song_song_VAS_IFRS_khong_can_nhap_lieu_kep\"><\/span><strong>The &quot;Middleware&quot; strategy: Operating VAS &amp; IFRS in parallel without double data entry.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Maintaining two sets of manual accounting records is high-risk and labor-intensive. The optimal strategy:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Single Source of Truth \u2192 Transformation Layer \u2192 Dual Reporting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi and <a href=\"https:\/\/bizzi.vn\/epm-la-gi\/\">EPM<\/a> acting as an intermediary layer:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Clean the input data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automatic mapping of VAS to IFRS.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automated Reconciliation between the two standards.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Simultaneously generate VAS (for tax purposes) and IFRS (for shareholders) reports.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Result: Fast Close and Audit Trail are transparent.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bang_so_sanh_Du_lieu_VAS_vs_IFRS\"><\/span><strong>Comparison Table of VAS vs IFRS Data<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Here is the detailed table:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Category<\/b><\/td>\n<td><b>VAS Data (Current)<\/b><\/td>\n<td><b>IFRS data (Required)<\/b><\/td>\n<td><b>Processing technology (Bizzi\/Finevo)<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Revenue (IFRS 15)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Total invoice value<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Details of obligations and retail prices.<\/span><\/td>\n<td><b>Bizzi AI:<\/b><span style=\"font-weight: 400;\"> Line-item Extraction<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Leases (IFRS 16)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Rental costs for this period<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Future cash flows, interest rates<\/span><\/td>\n<td><b>Bizzi Contract:<\/b><span style=\"font-weight: 400;\"> Digitizing contracts<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Contingency (IFRS 9)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Age of overdue debt<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Past payment behavior<\/span><\/td>\n<td><b>Bizzi ARM:<\/b><span style=\"font-weight: 400;\"> Payment data analysis<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Asset valuation<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Original price (Historical)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Fair Value<\/span><\/td>\n<td><b>EPM EPM:<\/b><span style=\"font-weight: 400;\"> Multi-scenario management<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Lo_trinh_Chuyen_doi_so_Tai_chinh_cho_IFRS_2026\"><\/span><strong>Financial Digital Transformation Roadmap for IFRS 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The narrowing <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> This cannot be achieved with a single end-of-period adjustment project. It must be a financial digital transformation program with a clear roadmap, linked to a long-term data strategy. From a CFO&#039;s perspective, the goal is not just to &quot;produce IFRS reports,&quot; but to build a data infrastructure that is clean, detailed, and traceable enough to meet international transparency requirements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The roadmap for digital financial transformation under IFRS 2026 needs to be implemented in three consecutive phases:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Data Standardization<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Process Automation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Implementing an integrated reporting system (EPM Implementation)<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The focus of this roadmap is to create a \u201cSingle Source of Truth\u201d\u2014a unified data source that enables businesses to operate alongside VAS and IFRS without incurring massive manual adjustments.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Giai_doan_1_Chuan_hoa_du_lieu_nguon_%E2%80%93_Nen_mong_cua_IFRS\"><\/span><b>Phase 1: Standardizing Source Data \u2013 The Foundation of IFRS<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Before discussing automation or reporting systems, CFOs need to confront the current state of their data. The majority of Vietnamese businesses face problems with their Master Data: duplicate customer codes, incorrect supplier codes, non-standardized materials, and a lack of product category or cost center categorization.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In context <\/span><b>Comparison of IFRS and VAS<\/b><span style=\"font-weight: 400;\">The biggest difference lies in the level of data detail. IFRS requires the ability to break down revenue by contract, by performance obligation, and by expected cash flow. If the original data is already messy, the conversion will only create more complex discrepancies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At this stage, businesses need to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standardizing customer codes by risk segment (for IFRS 9 \u2013 ECL)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standardization of contract codes (for IFRS 15 \u2013 Revenue Allocation)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standardization of the leased asset portfolio (for IFRS 16)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Redesign the cost center system and project code.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is a crucial step in the process. <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\">Without cleaning the input data, all subsequent automation will be inaccurate.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Giai_doan_2_Tu_dong_hoa_quy_trinh_giao_dich_%E2%80%93_Tao_du_lieu_%E2%80%9Cdu_min%E2%80%9D\"><\/span><b>Phase 2: Automating the trading process \u2013 Creating &quot;sufficiently smooth&quot; data<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">After standardizing the underlying data, the next step is to ensure that the generated data is accurate and complete. This is where automating P2P (Procure-to-Pay) and O2C (Order-to-Cash) processes becomes a mandatory strategy, no longer just a cost-effective option.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The core issue of <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> IFRS requires line-item data, contract terms, and performance timelines \u2013 information that is often lost when entered manually.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By implementing automation solutions like Bizzi in P2P and O2C, businesses can:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automatically extract line items from invoices.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Attach invoices to contracts and purchase orders.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Store payment terms, deadlines, and discounts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Track payment history for ECL model<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The key difference here isn&#039;t about &quot;reducing accounting staff,&quot; but about creating structured data from the start. When the input data is detailed enough and traceable, the CFO will no longer have to manually reprocess it to meet requirements. <\/span><b>Differences in revenue recognition between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> Or calculate the contingency according to IFRS 9.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Automation at this stage is essentially &quot;Input Data Automation&quot;\u2014the first line of defense against IFRS discrepancies.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Giai_doan_3_Trien_khai_he_thong_bao_cao_hop_nhat_%E2%80%93_Reporting_Automation\"><\/span><b>Phase 3: Deployment of a unified reporting system \u2013 Reporting Automation<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once data is standardized and transaction processes are automated, businesses are truly ready to implement an integrated reporting system (EPM).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is the &quot;Transformation Layer&quot; processing step \u2013 where VAS data is mapped to IFRS.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">EPM systems like EPM allow:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automatically allocate revenue based on performance obligations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Calculate Right-of-Use Asset and Lease Liability<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fair Value simulation under multiple scenarios<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">ECL calculations are based on historical data.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Instead of maintaining two separate sets of accounting records, CFOs can operate VAS and IFRS in parallel on the same data platform. This significantly streamlines the process. <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\">, while also ensuring transparency in the audit trail.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From a strategic perspective, this represents a shift from &quot;Excel Adjustment&quot; to &quot;Reporting Automation&quot;\u2014a structural change.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Diem_khac_biet_cua_lo_trinh_nay\"><\/span><b>The difference of this route<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Unlike legal documents that focus solely on regulations and deadlines, the above roadmap is a specific Tech Roadmap:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Start with the data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standardize the process<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Input automation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Implement consolidated reporting.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">CFOs no longer view IFRS as a short-term compliance project, but rather as a program to upgrade financial infrastructure. <\/span><b>Comparison of IFRS and VAS<\/b><span style=\"font-weight: 400;\">Businesses will realize that international standards are just the &quot;tip of the iceberg.&quot; The core is the underlying data architecture. If this architecture is built correctly now, IFRS 2026 will no longer be a burden.<\/span><\/p>\n<figure id=\"attachment_999980298\" aria-describedby=\"caption-attachment-999980298\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999980298 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-4.jpg\" alt=\"data-distance-vass-and-ifrs\" width=\"1000\" height=\"355\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-4.jpg 1000w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-4-300x107.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-4-768x273.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-4-18x6.jpg 18w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-999980298\" class=\"wp-caption-text\">The roadmap for digital financial transformation under IFRS 2026 needs to be implemented in three consecutive phases.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Cau_hoi_thuong_gap_ve_Chuyen_doi_Du_lieu_VAS_%E2%80%93_IFRS_FAQ\"><\/span><strong>Frequently Asked Questions about VAS \u2013 IFRS Data Conversion (FAQ)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When it begins to narrow <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\">CFOs often lack not just determination, but technical and systemic clarity. Below are some of the most common questions encountered during implementation.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hoi_Chuyen_doi_sang_IFRS_co_can_thay_doi_phan_mem_ke_toan_khong\"><\/span><b>Question: Does switching to IFRS require changing accounting software?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Answer:<\/b><span style=\"font-weight: 400;\"> It&#039;s not necessary to replace the expensive ERP core.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many businesses mistakenly believe that to comply with IFRS, they must completely rebuild their accounting system. In reality, the current trend is to keep the core ERP system and add satellite systems like Bizzi or Finevo to handle the IFRS data layer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">ERP still records transactions according to VAS for tax purposes.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> The satellite layer will:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extracting detailed data (line-item, contract)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Mapping VAS \u2013 IFRS<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automatically generate IFRS adjusting entries.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This approach helps reduce investment costs and limit the risk of operational disruption.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hoi_Du_lieu_nao_kho_thu_thap_nhat_khi_lam_IFRS_16\"><\/span><b>Question: What data is most difficult to collect when implementing IFRS 16?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Answer:<\/b><span style=\"font-weight: 400;\"> Non-financial data in lease agreements is often the most missing element.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Specifically, this includes:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Option to extend the contract<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rental price index change clause<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Early termination clause<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Implicit interest rate<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This information is usually found in PDF files, attached documents, or exchanged emails, and is not stored in the accounting system.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When <\/span><b>Comparison of IFRS and VAS<\/b><span style=\"font-weight: 400;\">The major difference is that IFRS 16 requires capitalization of asset use rights and recognition of lease liabilities based on future cash flows. Without digitizing contracts and standardizing data, businesses would have to manually read each contract \u2013 a very high risk of errors.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hoi_Su_khac_nhau_lon_nhat_giua_ghi_nhan_doanh_thu_VAS_va_IFRS_la_gi\"><\/span><b>Question: What is the biggest difference between VAS and IFRS revenue recognition?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Answer:<\/b><span style=\"font-weight: 400;\"> VAS is based on the transfer of risk and invoices; IFRS is based on the transfer of control and performance obligations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is the central point of <\/span><b>Differences in revenue recognition between VAS and IFRS<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">VAS: When goods are delivered and the invoice is issued \u2192 revenue is recognized.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IFRS: When control is transferred and each performance obligation is fulfilled \u2192 recognize the corresponding revenue.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This leads IFRS to require allocating the transaction price to each component of the contract. If the system only stores a single total revenue stream, the CFO will have difficulty preparing IFRS reports.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hoi_Lam_sao_de_xu_ly_chenh_lech_thue_giua_VAS_va_IFRS\"><\/span><b>Question: How do I handle the tax discrepancies between VAS and IFRS?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Answer:<\/b><span style=\"font-weight: 400;\"> Use the Deferred Tax account to record temporary differences.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When processing <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\">However, many IFRS adjustments will not be accepted by the tax authorities (e.g., recognizing revenue in different periods, capitalizing leases, making provisions for ECLs).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This difference creates:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Temporary difference<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deferred tax assets<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deferred tax debt<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The consolidated reporting system needs to separately track IFRS adjustments to ensure that tax obligations under VAS are not misrepresented.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hoi_Bizzi_co_thay_the_duoc_phan_mem_ke_toan_khi_lam_IFRS_khong\"><\/span><b>Question: Can Bizzi replace accounting software when implementing IFRS?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Answer:<\/b><span style=\"font-weight: 400;\"> Are not.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bizzi is not an ERP system and does not replace accounting software. Bizzi&#039;s role lies in the pre-accounting layer (processing incoming data).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Specifically:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">P2P and O2C automation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Clean and normalize data<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Store line-item details<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Connect contracts \u2013 invoices \u2013 payments<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As a result, ERP systems can perform more accurate accounting, and IFRS systems have enough data to perform mapping. This is a crucial step in narrowing down the process. <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> without changing the entire core system.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hoi_Chi_phi_chuyen_doi_he_thong_du_lieu_cho_IFRS_co_cao_khong\"><\/span><b>Question: How much does it cost to convert a data system to IFRS?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Answer:<\/b><span style=\"font-weight: 400;\"> The initial investment cost for automation (RPA\/EPM) can be significant, but it is much lower than the long-term cost of maintaining dual entry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If businesses don&#039;t automate, they will have to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Maintain two sets of accounting records.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Manual data entry for IFRS<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increase personnel for control and verification.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Hidden costs include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Audit errors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The closing time is extended.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Missed opportunity to raise capital.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Over a 3\u20135 year period, investments in data infrastructure and automation typically yield a positive ROI.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hoi_Du_lieu_nao_thuong_bi_thieu_nhat_khi_chuyen_sang_IFRS_9\"><\/span><b>Question: What data is most commonly missing when transitioning to IFRS 9?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Answer:<\/b><span style=\"font-weight: 400;\"> Customer payment history data \u2013 especially the actual number of days overdue \u2013 is used to calculate the Loss Rate and the probability of default (PD).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IFRS 9 requires the Expected Credit Loss (ECL) model, while many businesses only report static debt aging at any given time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To calculate accurately, the following is needed:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Years of payment history<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Actual recovery rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer risk segmentation<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This lack of data is the main reason why many businesses are unable to process it. <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> in the credit loss provision section.<\/span><\/p>\n<figure id=\"attachment_999980297\" aria-describedby=\"caption-attachment-999980297\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-999980297 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-3.png\" alt=\"data-distance-vass-and-ifrs\" width=\"1024\" height=\"683\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-3.png 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-3-300x200.png 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-3-768x512.png 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/03\/khoang-cach-du-lieu-vas-va-ifrs-3-18x12.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-999980297\" class=\"wp-caption-text\">IFRS 16 requires capitalization of asset usage rights and recognition of lease liabilities based on future cash flows.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ket_luan_IFRS_la_bai_toan_du_lieu_khong_phai_bai_toan_ke_toan\"><\/span><b>Conclusion: IFRS is a data problem, not an accounting problem.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">From the above analysis, it can be seen that <\/span><b>Data gap between VAS and IFRS<\/b><span style=\"font-weight: 400;\"> It&#039;s not about a few adjusting entries, but about how businesses collect and store information from the very beginning.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When <\/span><b>Comparison of IFRS and VAS<\/b><span style=\"font-weight: 400;\">The biggest difference is:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IFRS requires more detailed data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IFRS requires predictive data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IFRS requires high traceability.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The three vital points include <\/span><b>Differences in revenue recognition between VAS and IFRS<\/b><span style=\"font-weight: 400;\">Both lease contract processing and ECL models have one thing in common: a lack of structured data.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From a CFO&#039;s perspective, instead of waiting until 2026 to address the transition, businesses should start by building an automated financial data platform. Once P2P, O2C, and contract management processes are systematically digitized using solutions like Bizzi, the data will be ready for both VAS and IFRS without doubling the workload.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IFRS is not an accounting project. It&#039;s a financial data infrastructure restructuring project. Businesses that start automating early will not only meet international standards but also upgrade their financial management capabilities in the long term.<\/span><\/p>\n<p><em><strong>Register here to experience Bizzi&#039;s solutions and receive one-on-one consultation from a financial expert: <a href=\"https:\/\/bizzi.vn\/dat-lich-demo\/\">https:\/\/bizzi.vn\/dat-lich-demo\/<\/a><\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Vi\u1ec7c chuy\u1ec3n \u0111\u1ed5i t\u1eeb VAS sang IFRS kh\u00f4ng \u0111\u01a1n thu\u1ea7n l\u00e0 thay \u0111\u1ed5i b\u00fat to\u00e1n, m\u00e0 l\u00e0 cu\u1ed9c c\u00e1ch m\u1ea1ng v\u1ec1 d\u1eef li\u1ec7u. Trong khi&#8230;<\/p>","protected":false},"author":56,"featured_media":999980296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-999980293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-so-tay-ke-toan"],"acf":[],"_links":{"self":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999980293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/comments?post=999980293"}],"version-history":[{"count":1,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999980293\/revisions"}],"predecessor-version":[{"id":999980299,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999980293\/revisions\/999980299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media\/999980296"}],"wp:attachment":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media?parent=999980293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/categories?post=999980293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/tags?post=999980293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}