16 ANALYZING THE FINANCIAL SITUATION IN TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY

MINISTRY OF FINANCE ACADEMY OF FINANCE -☐☐☐ STUDENT: PHAM THI HIEN GROUP: CQ55/51.01 GRADUATION THESIS TOPIC: ANALYZING THE FINANCIAL SITUATION IN TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY Major Student code : English for Finance and Accounting : 17522202010012 Ha Noi-2021 MINISTRY OF FINANCE ACADEMY OF FINANCE -☐☐☐ STUDENT: PHAM THI HIEN GROUP: CQ55/51.01 GRADUATION THESIS TOPIC: ANALYZING THE FINANCIAL SITUATION IN TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY Major Student code Supervisor Ha Noi-2021 : English for Finance and Accounting : 17522202010012 : M.A Tran Huong Giang DECLARATION The research topic "Analyzing the financial situation in Tan Phat Development Investment and Trade Joint Stock Company" of this thesis is the result of my own efforts, research and creativity with the enthusiastic guidance of Supervisor MA Tran Huong Giang I hereby declare that the research results of the project are entirely the results of the research process in Tan Phat Development Investment and Trade Joint Stock Company and the above statements are completely true and I take full responsibility for my promises Graduation thesis author Phạm Thị Hiền ABSTRACT This study looks at the methods of analyzing the financial position of Tan Phat Development Investment and Trade Joint Stock Company The article aims to find out the achievements and limitations in the company's financial activities and more importantly, propose the main methods to improve the financial situation of company To achieve these goals, the graduate paper will examine the status of using finance and managing finance of company effectively or not From the obtained results, the study gives the most practical meanings at Tan Phat Development Investment and Trade Joint Stock Company in order to improve the efficiency of using financial source and improve financial situation at company in the coming years ACKNOWLEDGMENTS First, I would like to express my most sincere thanks to Ms Tran Huong Giangwho is in charge of guiding me to the graduation thesis The devotion in her comments and suggestions on her essay provided me with a lot of useful knowledge to apply in the construction of my research Without these instructions, comments, this essay will not be complete I would also thank the management board in Finance - Accounting Department in Tan Phat Development Investment and Trade Joint Stock Company have helped me to complete this thesis Finally, thanks goes to my family and friends who have always supported and encouraged me to complete this thesis TABLE OF CONTENT DECLARATION ABSTRACT ACKNOWLEDGMENTS TABLE OF CONTENT LIST OF FIGURES AND TABLES INTRODUCTION CHAPTER 1: LITERATURE REVIEW 1.1 1.1.1 1.1.2 1.2 1.2.1 1.2.2 1.3 1.3.1 1.3.2 Overview of corporate finance and analysis of corporate financial situation Overview of corporate finance Overview of analysis of corporate finance situation Methods and criteria assessing of analysis of corporate finance situation Methods of analysis of corporate finance situation Criteria assessing of analysis of corporate finance situation Factors affecting the financial analysis of a business Objective factor Subjective factor CHAPTER 2: CURRENT SITUATION OF FINANCIAL ANALYSIS AT TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY Overview of Tan Phat Development Investment And Trade Joint Stock Company General introduction about the company The Establishment and Development process Characteristics of business Organizational structure Practical situation of financial situation analysis at Tan Phat Development Investment and Trade Joint Stock Company 2.2.1 The overview of practical situation of financial situation analysis at Tan Phat 2.1 2.1.1 2.1.2 2.1.3 2.1.4 2.2 Development Investment and Trade Joint Stock Company 2.2.2 The practical situation 2.2.2.1 General assessment of the financial situation 2.2.2.2 Financial structure analysis 2.2.2.3 Analyze the relationship between assets and capital 2.2.3 Business performance analysis Achievement and limitation of assessing the current financial situation at Tan Phat Development Investment and Trade Joint Stock Company 2.3.1 Company’s achievement in analyzing the financial situation 2.3.2 Company's limitations in analyzing financial situation and its causes 2.3 CHAPTER 3: SOME SOLUTIONS TO IMPROVE THE FINANCIAL SITUATION OF THE COMPANY The orientation of the company's activities in the future Some solutions to improve the company's financial situation: Cost saving, product cost reduction Strengthen the management of receivables, reduce the time capital is taken up in payment 3.2.3 Strengthen inventory management 3.2.4 Manage and use non-current assets well 3.2.5 Other solutions 3.1 3.2 3.2.1 3.2.2 CONCLUSIONS REFERENCES APPENDIX LIST OF FIGURES AND TABLES Table 2.1 General evaluation of capital mobilization Table 2.2 General assessment of financial independence Table 2.3 Solvency assessment Table 2.4 General assessment of the profitability of the company Table 2.5 Capital structure analysis Table 2.6 Asset structure analysis Table 2.7 Analyze the relationship between assets and capital Table 2.8 Analyze the return on assets INTRODUCTION Rationale of the study Vietnam’s economy is gradually integrating with the regional and world economy Along with that, the business environment is expanded and the competition is also becoming more and more intense Besides focusing on expanding production scale and product quality, minimizing costs and maximizing profits; analyzing and announcing the financial position of enterprises to improve their competitiveness in the market is also very important Financial analysis not only helps businesses have a broader view of their finances, use efficiently capital resources, allocate rationally existing resources, use effectively financial leverage and bring the highest benefits but also helps businesses adjust promptly to fluctuations in the market This is a very necessary task It is the basic for businesses to improve operational efficiency, and is an information channel for investors to refer before making investment, thereby expanding production scale and improving competitiveness However, in Vietnam today, the analysis of the corporate financial situation has not been strengthened It is still difficult for investors to approach the financial situation of the business, thereby losing huge advantage in the development of the business Tan Phat Development Investment And Trade Joint Stock Company is a small and medium-sized enterprise (SME) It operates mainly in the construction and trade sectors In the period of 2017-2019, the company’s business activities faced many difficulties, the scale of operations was narrowed and the profit decreased Besides the objective cause due to the impact of the economic recession, an important reason is that the Tan Phat Company has not focused on improving the quality of financial management through financial analysis to find out effective measures to increase business efficiency Being aware of the important role of analyzing the financial situation to the development of the business, combined with theoretical knowledge learned at the school and practical experiences I got at the company, I decided to choose the topic “ Analyzing the financial situation in Tan Phat Development Investment And Trade Joint Stock Company” as my graduation thesis title Aim of the study The purpose of the study is to systematize the theoretical issues of analyzing financial situation of the company, as well as analyze and evaluate the financial situation of the Tan Phat Company and then propose some solutions to improve the financial state of the Tan Phat Company Methods of the study Based on the knowledge at university as well as the knowledge I have accumulated, I use several methods of studying in my thesis as follows: Comparative method, Proportional method and Dupont method Scope of the study The study is performed at Tan Phat Development Investment and Trade Joint Stock Company, 34 Ly Chieu Hoang, Suoi Hoa Street, Bac Ninh city The study is based on data provided by the company from 2017 to 2019 Organization of the study The thesis is divided into chapters: Chapter 1: Literature review Chapter 2: The Study Chapter 3: Recommendations CHAPTER 1: LITERATURE REVIEW OVERVIEW OF CORPORATE FINANCE AND ANALYSIS OF CORPORATE FINANCIAL SITUATION 1.1.1 Overview of corporate finance: 1.1.1.1 Concept of corporate finance: 1.1 In fact, there are many concepts about corporate finance However, these concepts are generally divided into two views: The first point of view: Corporate finance is a system of economic relations in the form of value (monetary relations) arising in the process of forming and using corporate monetary funds to serve business operation of the enterprise and accumulate capital for the enterprise The above analysis results show that, in the condition that total assets remain unchanged as in 2019, along with the increase of profit after tax in 2019, Return on total assets increased by 0.0079 times On the other hand, in the condition that profit after tax remained unchanged as in 2018, the average asset value increased in 2019 causing return total assets to decrease by 0.0005 times 2.3 ACHIEVEMENT AND LIMITATION OF ASSESSING THE CURRENT FINANCIAL SITUATION AT TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY Financial analysis is a job that requires research and research in order to get accurate judgments and provide necessary information to the subjects By studying the current situation of financial analysis at Vietnam Construction Import-Export Joint Stock Corporation, the following observations can be made in the financial analysis activities of the Company 2.3.1 Company’s achievement in analyzing the financial situation The company's revenue from sales and service provision tends to increase and be more stable This shows that the company is implementing its business plan well Revenue from construction contracts was boosted, the number of signed construction contracts increased and the contract value was also larger Also, the company always ensures the quality of construction works, works after construction and handover to customers have not had any cases of damage before the warranty period, customers are satisfied with the quality of the construction projects, so in this period, the company does not have any revenue deductions, the company's net revenue is always guaranteed by revenue from sales and service provision Other activities of the company brought positive results, providing more furniture products for the projects that the company was responsible for construction made the company earn a considerable amount of income, although this revenue is not stable but this may be a new business direction for the company in the near future Moreover, administrative expenses are being maintained quite stable by the company, the ratio between administrative expenses on net revenue tends to decrease and become more stable, which shows that the company is taking good measures to help improve your business management costs The company always maintains a positive financial balance, ensures the solvency of the due debts, this helps the company to operate stably without being under great pressure from the debts 2.3.2 Company's limitations in analyzing financial situation and its causes In addition to the achievements in the past years, the company's business activities also show some limitations: 2.3.2.1 Limitation of cost The company's cost of goods sold is still at a high level, even as high as the revenue from sales and service provision The first reason for this limitation is that the company uses outdated production machinery and equipment, which consumes a lot of raw materials, as well as productivity and labor, which increases direct material cost and direct labor cost The company does not update new machinery and equipment with more advanced technology, so product quality cannot compete with the market The second reason is that the macro economy is unstable, inflation is always high, the cost of raw materials imported from suppliers is constantly increasing, while the market economy is fiercely competitive, the company cannot raise selling price 2.3.2.2 Limitation of receivables Current receivables from customers still have a large value because of the company's loosening credit policy, which increases the receivables, increases the provision for bad debts and increases the time customers take over the business's capital 2.3.2.3 Limitation of inventory Inventory fluctuates greatly Specifically, in 2018 there was a sharp increase and in 2018 and 2019 the inventory value was at a high level The reason is that in 2018 the company signed more construction contracts, so the company needed to import more materials to meet construction projects Although the number of inventories decreased in 2019, because the company's inventory management is not very reasonable, the inventory reserve is still large, causing capital stagnation 2.3.2.4 Limitation of non-current asset Non-current assets have increased but not significantly, still account for a very low proportion of total assets The value of current assets is much larger than the value of non-current assets The reason is that the company does not have asset management policy effectively Moreover, the machinery and equipment for construction are mainly rented and the machines are of low value In 2018, long-term assets increased mainly due to the increase of fixed assets Previously, the company's headquarters was located in a rented building, so the company's fixed assets were only machinery and equipment In 2018, the company bought land and built a headquarters in Bac Ninh city, which made fixed assets increase CHAPTER 3: SOME SOLUTIONS TO IMPROVE THE FINANCIAL SITUATION OF THE COMPANY 3.1 THE ORENTATION OF THE COMPANY'S ACTIVITIES IN THE FUTURE Based on the analysis of achieved results and outstanding difficulties, along with opportunities and challenges the company will have to go through in the coming time, the company has built a long-term production plan to meet better than the ever-changing needs of the economy There are some directions of the company's activities in the near future: In the coming years, the company will continue to carry out multi-industry business but take the construction business as the base In addition, the expansion of business lines will be selective to suit the economic situation as well as the company's ability The company will continue to develop in the field of supplying furniture for projects, in addition, the company will also trade in building materials, both providing for other companies and as an input source for company’s construction activities In addition, the company will constantly invest and apply modern advanced technology in production and construction activities to improve productivity, and reduce costs The company will regularly train to improve the level of employees in the company Moreover, the company will strengthen position and reputation through improving product quality and service quality The company is always looking for ways to keep existing customers and find new potential customers 3.2 SOME SOLUTIONS TO IMPROVE THE COMPANY'S FINANCIAL SITUATION: In recent years, through the achievements, under the right leadership of the Board of Directors, and the efforts of the staffs and employees, the company has continuously grown and created a strong position in the market Besides, there are still limitations that need to be overcome in the company's business activities Through the assessment based on the analysis of the company's financial situation, I would like to propose some basic measures to improve the efficiency of production and business activities of the company 3.2.1 Cost saving, product cost reduction Based on financial analysis, we can see that although the company's revenue is large, due to the high cost of goods sold, the company's profit is low In addition, financial expenses increased due to the loosening of credit policy and the high administrative costs, which kept the company's profit at low level In order to improve the efficiency of production and business activities and increase profits for enterprises, the company must definitely save costs in the process of production and business activities First of all, the company has to liquidate outdated machinery and equipment, invest in new and more advanced equipment Although it will have to invest a large amount of money at the moment, the company will save the cost of materials and labor during the next production period The company should invest more in the field of supplying construction materials, both being able to supply materials to other companies and also providing input materials for themselves, so the company's cost of goods sold can be significantly reduced because it does not have to buy input materials at high prices from suppliers The company should adjust the credit policy, reduce the payment discount for customers and shorten the repayment period to reduce financial costs and reduce the time customers take over the company's capital However, it must be adjusted appropriately so as not to lose existing customers and still be able to attract potential customers, which helps to increase sales and service provision for the company in the next time The difficulties in implementation: Buying more equipment and machinery will cost a huge amount of money at the moment and the company's current financial situation has not really improved Therefore, it is very difficult for the company to implement 3.2.2 Strengthen the management of receivables, reduce the time capital is taken up in payment In business, in order to sell products and goods, businesses inevitably have to give credit to customers The promotion of sales leads to an increase in revenue but also an increase in receivables Therefore, the question for businesses is how to both retain customers and limit the time that customers take up capital of the business To a good job of receivables, first of all, when granting credit to customers, the company needs to conduct credit analysis for its customers The implementation of trade credit policy is a trade-off between profit and risk In order to have a reasonable credit policy that mean achievement the maximum profit with a limited risk, the company needs to develop credit standards from which to decide which customers are granted credit and which customers must pay before or immediately after delivery In order to obtain a reasonable credit policy the company should use the model for credit score Z Score model Z: Z= 1.2A1 + 1.4A2 + 3.3A3 + 0.6A4 + 1.0A5 Including: A1 = Current asset – Current liabilities Total asset A2 = A3 = A4 = A5 = Retained earning Total asset Profit before taxes Total asset Equity Total liabilities Net revenue Total asset If Z ≥ 2.99, the business is in good financial condition If 1.81 ≤ Z < 2.99, the business has no problem in the short term However, it is necessary to consider financial conditions carefully If Z ≤ 1.81, the business has serious financial problems and is in danger of bankruptcy In the above model, the higher the Z-value, the better the customer's credit score When the low Z-score is a negative number, it means that the customer belongs to the group of high credit risk However, besides the advantages, the Z-score model has limitations such as not mentioning qualitative factors such as the relationship between customers and the company Next, after credit has been granted to the customer, in the process of signing a contract with the customer, it is necessary to discuss and agree on payment terms, including payment time, payment rate in advance, the amount to be paid when finalizing the contract, especially the penalty interest rate for overdue payment must be set, this overdue penalty must be higher than the bank's interest rate in order to force the customer to pay the contract on time In addition, when the payment is due, the company needs to take measures to urge, notify the debt payment time to customers, prepare documents and payment documents, implement payment procedures to shorten the time and active in payment If the customer does not make the payment as agreed, depending on the case, the company should give a different treatment For example, for a customer who always pays on time but is now late in payment due to business difficulties, the company will send a notice to the customer requesting payment of the contract but can still grant additional new commercial credits to support their operations For customers who often fail to pay on time, or pay late without a reasonable reason, the company should not issue a new commercial credit, but ask the customer to pay off the amount owed in the previous installment then continue to give credit The general rule is that depending on the situation to have a flexible way of handling, if it is too rigid, it will lose a good relationship with customers, if it is too loose, the company will face many risks For overdue trade credits, the company can recover by sending a written request for debt payment, sending staff to directly meet customers to request payment obligations However, in the case of customers who owe too long, the company should apply tougher measures to be able to recover the money, which is to initiate a lawsuit in the economic court about the customer's non-payment on time The difficulties in implementation: The company's staff is not yet highly qualified to negotiate and persuade customers Moreover, company does not have a professional team to analyze customers' behavior and credit situation 3.2.3 Strengthen inventory management Through financial analysis, it shows that the company's inventory situation is not stable, the management of cost of inventory is still a sensitive issue of the business today when the fluctuation of prices in the market is difficult to predict This requires businesses to pay attention to the following specific tasks: Based on the construction needs of the market, enterprises need to determine a reasonable amount of inventory After the reserve quantity has been determined, the enterprise must monitor, research and analyze the market, make a forecast of price fluctuations, choose the right time and method to purchase goods to minimize the cost of inventory capital The implementation of planning and forecasting will always help businesses anticipate and proactively deal with any market fluctuations Based on the consumption capacity of each product, enterprises need to balance their inventory structure appropriately This requires that besides determining the level of inventory, businesses need to promote goods consumption It helps businesses expand market share, increase inventory turnover, and avoid capital stagnation The difficulties in implementation: The constant volatility of prices in the market makes it difficult for managers to predict inventory levels 3.2.4 Manage and use non-current assets well The proportion of fixed assets in total assets is not high With business objectives in the field of construction, the company needs to be equipped with new modern technology machines Because the level of equipment and machinery directly affects labor productivity The maximum mobilization of both quantity and quality of fixed assets into production and business activities will increase the speed of capital use, avoid wear and tear of fixed assets, and increase the efficiency of using fixed capital in the company Therefore, in order to improve the efficiency of long-term capital use in the company, it is necessary to implement the following solutions: Before investing, it is necessary to clearly classify each group of fixed assets, determine the number of inefficient and damaged fixed assets in order to have a plan for liquidation At the same time, the purchase of more fixed assets must also be associated with the actual needs of use, avoiding excess investment, not using it, causing waste Decentralize the management of fixed assets for the production workshop in order to improve the responsibility in the management and comply with the rules and regulations on the use, on maintenance and repairing of fixed assets to reduce downtime major repairs than planned It is necessary to promote the use and periodic inspection of machinery and equipment, to avoid damaged or unusable assets that must stop production for repair, affecting business operations and delivery time with partners 3.2.5 Other solutions 3.2.5.1 Strictly control the debt situation, avoiding the increase of bad debts During this time, enterprises have determined that the tight monetary policy of the State will definitely still be maintained to achieve the goal of controlling inflation The economy has not shown signs of improvement, the financial situation of enterprises is still very difficult, so in sales policy, it is still necessary to give special priority to financial safety, debt control, debt recovery, absolutely not to generate more bad debts Although the debt situation has decreased, it is still relatively high compared to the current average Therefore, the company needs to pay attention to the following issues: Enterprises need to regularly monitor the situation of debts, classify debts, thereby making plans for debt recovery Moreover, the company needs to strengthen the training of employees on financial management, and the company also needs to soon synchronize the trade credit policy, the debt management policy system of the whole company methodically, strictly to ensure the financial safety of the company For overdue and bad debts: the company needs to review and negotiate with customers to shorten the debt period under the contract, and at the same time strengthen the inspection, supervision for debt collection and coordinate with functional agencies to find debt recovery solutions With new customers: need to negotiate a reasonable debt limit, make some payment terms This requires businesses to carefully evaluate the financial situation of customers 3.2.5.2 Build a professional marketing department To increase revenue, the company needs a professional marketing team to help the company find and sign contracts Therefore, the company's next task is to build and train a professional marketing and sales team In addition to maintaining relationships with traditional customers, this team will help the company find new potential customers, increase signed contracts to build revenue growth In addition, the company should also increase investment in promotional activities, introduce its products on the mass media such as newspapers, radio, internet so that customers know more about the company 3.2.5.3 Training and effective use of human resources For any business, the human factor is the most important factor, having a direct impact on the success or failure of the business The training and improvement of professional qualifications for managers and employees and vocational training for workers is an urgent issue of enterprises Therefore, the company needs to invest time and money for this activity The company can organize short-term professional training courses for employees Sending staff to attend scientific conferences in the whole industry to learn and improve professional qualifications Annually company should send staff with good achievements abroad to study their science and technology, recruit young staff with high financial expertise to enrich human resources Although this work is a long-term investment, it will definitely bring efficiency, the quality of the company's human resources will improve in the future In order for officials and employees to work effectively, managers must always improve their organizational structure, create dynamism and inspiration at work for employees, create good working conditions and reward level for employees with excellent and creative achievements, making the most of employees' capabilities In addition, the payment of wages is also one of the factors affecting the psychology of employees Therefore, accountants need to accurately and fully record salaries as well as allowances, allowances, and insurance for employees Company needs to pay wages on time and in full to ensure maximum benefits of employees 3.2.5.4 Build brand, improve reputation and focus on expanding the company's business market In today's fiercely competitive economy, to can stand in the market and have many business opportunities, the company needs solutions to build a brand and improve its reputation in the market Once the company has a reputation and a good image, expanding the market is not too difficult for the company To this, the company must first improve product quality, respond to customer needs flexibly and quickly In production and business activities, the company needs to determine reasonable, flexible and suitable pricing strategies for each customer For familiar customers, the company should have a discount and incentive policy from time to time, the goal of the business is to expand the business market However, expanding the market and improving the reputation and quality of products cannot be done in a short time, but requires determination and perseverance of the company Moreover, this also means that in the near future the company will face many difficulties to assert its brand in the market 3.3 RECOMMENDATIONS 3.3.1 For the company Company needs consider rearranging employees in the enterprise to suit the qualifications and professional capacity of each person There is a professional training plan for the management department, the sales department Also, company needs promote the emulation and commendation movement, constantly improving the employees' lives Moreover, company implement cost savings in production, effectively manage costs, avoid waste so that there can be enough costs for long-term asset investment to bring more profits later 3.3.2 For the State State needs have policies to encourage production and business activities, contributing to improving production and business efficiency The state should have priority policies on reforming the tax calculation and collection system, including the issue of VAT invoices CONCLUSIONS The results of the analysis of the financial situation of the enterprise are a general, vivid and honest picture of the financial situation, business results and financial fluctuations of the enterprise The information obtained from the analysis is not only the goal of the Board of Directors of the Company but also the target of other interested parties to form the basis for decision-making Therefore, the truthfulness, full transparency and comprehensiveness of the indicators of financial situation analysis are increasingly required Through the time of researching about the current situation of financial analysis at Tan Phat Development Investment and Trade Joint Stock Company, I have completed my thesis with the topic "Analyzing the financial situation in Tan Phat Development Investment and Trade Joint Stock Company” The contents cover and address in the thesis include: The thesis has presented the general points about the financial situation of the enterprise, the meaning of analyzing the financial situation The thesis has also systematized the methods, contents and organization of the analysis of the financial situation as a basis for assessment in the situation The thesis has focused on studying the current situation of analyzing the financial situation at the Company to know the contents, methods and organizational work of analyzing the financial situation that the company has implemented Based on the actual situation of analyzing the financial situation and the development trend of the Company in the coming time, the thesis has proposed solutions to improve the content, methods and organization of the financial situation analysis in company I hope that the implementation of the above solutions will partly help the Tan Phat Development Investment and Trade Joint Stock Company improve the quality of financial analysis in the coming time REFERENCES Tan Phat Development Investment and Trade Joint Stock Company, Financial Statement (2017, 2018, 2019) Dang Thuy Phuong, Financial Publisher – Ha Noi, Corporate Finance textbook (2003) Nguyen Van Cong, Educational Publisher – Ha Noi, Financial Statement Analysis textbook (2010) Ngo The Chi, Financial Publisher, Corporate Financial Analysis textbook (2008) Nguyen Thi Diem Chau, Financial Publisher – Ho Chi Minh, Corporate Finance textbook (1999) Nguyen Nang Phuc, Financial Publisher – Ha Noi, Business Analysis - Theory And Practice (2007) Nguyen Quang Trung, National Economics University Publisher – Ha Noi, Enterprise Financial Management textbook (2009) Phan Duc Dung, Thong Ke Publisher, Financial Statement Analysis And Business Valuation (2009) Truong Ba Thanh, Tran Dinh Nguyen Khoi, Educational Publisher – Ha Noi, Business Analysis textbook (2001) 10 Website www.mekongsecurities.com 11 Website www.kienthuctaichinh.com 12 Website www.vi.wikipedia.org SUPERVISOR’S JUDGEMENT Supervisor: M.A Tran Huong Giang Student: Phạm Thị Hiền Group: 51.01 Intake: CQ 55 Topic: “ANALYZING THE FINANCIAL SITUATION IN TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY” Mark: • • - In number: - In word: Supervisor CRITIC’S JUDGEMENT Critic: Student: Phạm Thị Hiền Group: 51.01 Intake: CQ 55 Topic: “ANALYZING THE FINANCIAL SITUATION IN TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY” Mark: • • - In number: - In word: Critic ... OF FINANCIAL ANALYSIS AT TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY Overview of Tan Phat Development Investment And Trade Joint Stock Company General introduction about the company. .. TAN PHAT DEVELOPMENT INVESTMENT AND TRADE JOINT STOCK COMPANY 2.1 THE OVERVIEW OF TAN PHAT DEVELOPMENT INVESTMENT AND 2.1.1 TRADE JOINT STOCK COMPANY General introduction about the company Tan Phat. .. approach the financial situation of the business, thereby losing huge advantage in the development of the business Tan Phat Development Investment And Trade Joint Stock Company is a small and medium-sized