2 ACCOUNTING FOR SALES AND DETERMINING BUSINESS RESULTS AT PDF REFRIGERATION ENGINEERING JOINT STOCK COMPANY

ACADEMY OF FINANCE MINISTRY OF FINANCE 🙣🙣🙣 STUDENT: TRAN NHAT MAI CLASS: CQ55/21CL.02 GRADUATION THESIS TOPIC: “ACCOUNTING FOR SALES AND DETERMINING BUSINESS RESULTS AT PDF REFRIGERATION ENGINEERING JOINT STOCK COMPANY” Major : Corporate Accounting Code : 21 Mentor : Ph.D Nguyen Minh Thanh Ha Noi - 2021 Graduation Thesis Academy Of Finance COMMITMENT I hereby declare that this is my own research project, the figures and results stated in the graduation thesis are honestly derived from the actual situation of the internship unit Graduate thesis author Trần Nhật Mai TABLE OF CONTENT Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance COMMITMENT i TABLE OF CONTENT ii LIST OF CHARTS v LIST OF DOCUMENTS vi SAMPLE TABE vii LIST OF ABBREVIATIONS .viii PREAMBLE CHAPTER 1: GENERAL THEORETICAL ISSUES FOR SALES AND DETERMINING BUSINESS RESULTS IN COMMERCIAL ENTERPRISES .4 1.1 Overview of sales and determining business results in commercial enterprises 1.1.1 Features of the commercial business activity and the influence of the characteristics of commercial business to sales accounting and determine business results 1.1.2 Concept and meaning of sales and determine business result 1.1.3 Method of sales and payment in businesses 1.2 Financial accounting for sales and determining business results in the business 10 1.2.1 Financial accounting for sales and service provision 10 1.2.2 Financial accounting for sales deductions 13 1.2.3 Financial accounting for cost of goods sold 15 1.2.4 Financial accounting for financial income and financial expenses 19 1.2.5 Financial accounting for selling expenses and General & administration expenses 22 1.2.6 Financial accounting for other income and other expenses 26 1.2.7 Financial accounting for corporate income tax expense 29 1.2.8 Financial accounting for determining business results 31 1.3 Accounting books and accounting reports for use in financial accounting for sales and determining business results 33 1.3.1 Accounting books used in financial accounting for sales and determining business results 33 Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance 1.3.2 Presented information on the financial accounting for sales and determining business results on accounting reports 34 1.4 Management accounting for sales and determining business result 36 1.4.1 Concept of management accounting for sales and business results 36 1.4.2 Content of management accounting for sales and business results 36 1.4.3 The organization for management accounting for sales and business results.38 CONCLUSION CHAPTER 1: 40 CHAPTER 2:FINANCIAL ACCOUNTING FOR SALES AND DETERMINING BUSINESS RESULTS IN PDF REFRIGERATION ENGINEERING JOINT STOCK COMPANY 41 2.1 Overview of PDF Refrigeration Engineering Joint Stock Company .41 2.1.1 The process of formation and development of the company 41 2.1.2 Features of production and business organization of the company .42 2.1.3 Organize management apparatus at the company 43 2.1.4 Characteristics of the organization of the accounting work at the company 45 2.2 Accounting status of sales and determine business results at PDF Refrigeration Engineering Joint Stock Company 52 2.2.1 Characteristics of sales activities and determine business results at PDF Refrigeration Engineering Joint Stock Company 52 2.2.2 Sales procedures and vouchers used in sales accounting at PDF Refrigeration Engineering Joint Stock Company 54 2.2.3 Financial accounting for sale and determining business results at PDF Refrigeration Engineering Joint Stock Company 68 2.3 Comment on Financial accounting for sales and determining business results at PDF Refrigeration Engineering Joint Stock Company 100 2.3.1 General comments about the accounting at the Company 100 2.3.2 Comment on sales accounting and determine business results at the Company 103 2.3.3 Comment on Management accounting at the Company .105 CONCLUSION CHAPTER .106 Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance CHAPTER SOME COMMENTS TO IMPROVE ACCOUNTING FOR SALES AND DETERMINING BUSINESS RESULTS AT PDF REFRIGERATION ENGINEERING JOINT STOCK COMPANY .107 3.1 Development orientation of PDF Refrigeration Engineering Joint Stock Company .107 3.2 Requirements and principles of perfecting accounting for sales and determining business results at PDF Refrigeration Engineering Joint Stock Company 108 3.2.1 Requirements of perfecting 108 3.2.2 Principle of perfection .109 3.3 Some ideas to improve accounting for sales and determine business results at PDF Refrigeration Engineering Joint Stock Company 110 3.3.1 Opinion 1: Apply discounts and rebates to promote sales activities 110 3.3.2 Opinion 2: Make allocated cost of sales, cost of business management for each commodity 112 3.3.3 Opinion 3: Make Provision for bad receivable debts 114 3.3.4 Some other issues that need attention 118 3.4 Some ideas to improve Management Accounting for sales and determining business results at PDF Refrigeration Engineering Joint Stock Company 119 CONCLUSION CHAPTER .120 GENERAL CONCLUDE 121 Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance LIST OF CHARTS Chart 1: Sales accounting order .12 Chart 2: Accounting order of sales deductions .15 Chart 3: Cost of goods sold accounting order according to regular declaration method 18 Chart 4: Accounting order of financial income and financial expenses 21 Chart 5: Financial accounting for Selling expenses and administrative expenses procedures .25 Chart 6: Accounting for other income sequences: 28 Chart 7: Accounting for orther expenses order: Explain diagram: 29 Chart 8: Accounting for corporate income tax order .30 Chart 9: Accounting order to determine business results .32 Chart 10: Business process 43 Chart 11 Organizational chart management apparatus of the company 44 Chart 12 Organizational structure of the accounting apparatus .46 Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance LIST OF DOCUMENTS Document 01: Economic contract 55 Document 02: Form of wholesale VAT invoice .59 Document 03: Wholesale stock release note 61 Document 04: Detailed retail list of goods 64 Document 05: Retail release note 65 Documents 06: Retail receipts .66 Document 07: Retail VAT invoice 67 Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance SAMPLE TABLE Sample table 01: Record the payment details for each customer object 70 Sample table 02: Record the ledger of accounts receivable from customers 71 Sample table 03: Ledger Account 511 - Sales of goods and services .72 Sample table 04: List of goods warehouse receipt 76 Sample table 05: Report Import, export, inventory 77 Sample table 06: The list of goods delivery bills 78 Sample table 07: Ledger Account 632 - Cost of goods sold 80 Sample table 08: Ledger Account 515 - Revenue from financial activities 83 Sample table 09: Payment .87 Sample table 10: Ledger of account 641 - Selling expenses 89 Sample table 11: Ledger of accounts 642 - General and administrative expenses 91 Sample table 12: Account ledger 911 - Determine business results .96 Sample table 13: General journal 98 Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance LIST OF ABBREVIATIONS Acc Account COGS Cost of good sold VAT Value added tax CIT Corporate income tax Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance PREAMBLE The urgency of the research topic With the continuous advancement of human society, the market demand has increased significantly The market economy is creating both opportunities and challenges for businesses in general and commercial enterprises in particular when entering the market To be able to survive and develop, each business must find a suitable direction, grasp opportunities and create efficiency in the process of production and business activities and commercial enterprises are not out of that rule Commercial business activity which is a special economic activity, it serves as the circulation of goods, bring products to consumers The scope of commercial business is very wide, it includes both domestic trade and international trade And in the current period, commercial activity is constantly evolving and expanding, contributing significantly to the overall development of each national economy However, with the complicated changes of the world economy in general and the economy of Vietnam in particular have been set for the commercial enterprise of the challenges that must be overcome, and one of the challenges that is competition Competition is both a challenge but also a driving force for development A business that sells goods, increases revenue and makes a profitable business mean that the enterprise has enough competitiveness in the market That is why the consumption of goods plays a very important role in the production and business development strategy of each commercial enterprise, ensuring that the enterprise exists and stands firmly in the market Recognizing that importance, accounting with the function of reflecting, monitoring and providing useful information for commercial enterprise economic decisions needs to be well organized and managed, especially in sales accounting to contribute to the practical efficiency of the business of commercial enterprises Recognize the importance of this accounting, combined with equipped knowledge in the process of studying at the school and actually gathered from accounting work Tran Nhat Mai CQ55/21CL.02 Graduation Thesis Academy Of Finance CHAPTER SOME COMMENTS TO IMPROVE ACCOUNTING FOR SALES AND DETERMINING BUSINESS RESULTS AT PDF REFRIGERATION ENGINEERING JOINT STOCK COMPANY 3.1 Development orientation of PDF Refrigeration Engineering Joint Stock Company In the strategic goal of the policy implementation period of the 21st Century, the policy is to build a strong economic enterprise, multi-field, dynamic operation, diversified products, and multi-channel distribution format, reputation and wide, based on modern technology, sustainable growth, highly disciplined staff - ethics expertise is the main and important goal and PDF is determined to be real the year 2021 and the following years With a roadmap outlined, PDF focuses on: Building a strong economic business with multiple fields of business: PDF aims to be not only businesses operating in the field of air conditioners, supplying materials and equipment and accompanying technical services; but also towards investment and development in the field of construction, supply of materials, construction materials, Strengthening solidarity and building spirit, comprehensive and extensive equitization: Solidarity and the spirit of building synergies are the prerequisites for the development of PDF All policies and programs will have to be implemented according to the above guidelines to ensure the success of PDF development and construction according to the set objectives Participants will also have to attach responsibility and benefit from that development Constantly improving the quality of life and increasing income for employees, "putting employees first so that customers are truly god" according to Rosenbluth's business philosophy Tran Nhat Mai 115 CQ55/21CL.02 Graduation Thesis Academy Of Finance Strengthening human resource development, to meet the requirements of the knowledge economy, the quality of human resources is particularly interested in PDF Accordingly, PDF employees need to be equipped with a solid educational and training foundation: have professional and language skills, good communication, discipline and instinctive values moral ethics Next, PDF will have special training programs to improve the capacity of its employees 3.2 Requirements and principles of perfecting accounting for sales and determining business results at PDF Refrigeration Engineering Joint Stock Company 3.2.1 Requirements of perfecting Sales accounting and business results determination need to be more refined in the new economic management mechanism to meet management requirements in current conditions as competition from businesses is becoming more and more competitive gay pick Therefore, each enterprise must find its own right direction, perfect itself to stand firmly in the market Completing the sales accounting and determining business results must meet the following requirements: - Provide honest, objective and easy-to-understand figures and information on revenue, expenses and business results, facilitating monitoring and inspection - Accounting data must be reflected in a timely and accurate manner A timely and accurate reflection is essential and important for the leaders of the business in giving direction and the case plan for the next business period - Data must be clear, transparent and public This is of particular concern for both businesses and partners participating in business capital contribution - Ensuring the test period and practical and feasible effect Any business, whether private or state, has the same desire to save costs, gain high profits, and develop the company more and more strongly Tran Nhat Mai 116 CQ55/21CL.02 Graduation Thesis Academy Of Finance 3.2.2 Principle of perfection With the increasing management requirements on production and business activities of enterprises, the sales accounting and sales determination must be based on the following principles: - Completing to comply with the accounting system, accounting regimes issued by the State but not rigid but flexible: To meet the needs of synchronous management of economic and financial activities of enterprises in all cities For the domestic economic part, our State has built and issued an accounting system and an accounting regime These are mandatory legal documents Therefore, when completing sales accounting and determining sales results, managers must consider them so that the completion does not violate the accounting regimes However, enterprises also need to have flexibility in applying the accounting regime to suit the characteristics and business situation of the Company - Completion must be on the basis of matching with the business characteristics of the Company Each company has different characteristics in terms of business organization, type of business, qualifications and management requirements Therefore, the application of financial and accounting systems, regimes and institutions in enterprises must be reasonable, innovative and suitable to the specific characteristics of the enterprise - Completed on the basis of meeting information requirements to be fast, timely, accurate and consistent with the management requirements of enterprises, helping managers to grasp the situation of production and business From there, make the right decision to improve the efficiency of production and business throughout the enterprise Tran Nhat Mai 117 CQ55/21CL.02 Graduation Thesis Academy Of Finance - Completion must be based on savings and efficiency 3.3 Some ideas to improve accounting for sales and determine business results at PDF Refrigeration Engineering Joint Stock Company 3.3.1 Opinion 1: Apply discounts and rebates to promote sales activities In today's fiercely competitive market economy, the application of sales discounts is necessary in business practice Therefore, the company should implement the policy of payment discount, trade discount and sales price reduction according to a certain percentage of the profitability level of the discounted goods in order to offer discounts to customers a reasonable way, to improve business efficiency for the company In the coming time, the Company should add a payment discount for customers who pay early payments with a certain percentage on the revenue without VAT, in order to expand the scale of consumption of finished products and encourage customers to pay quickly and fairly to the Company in the shortest time, limit occupied capital The Company can apply one of the forms of discount and payment, selected to suit the conditions of the unit: - Discount a certain percentage of the total value that the buyer must pay - Discount a certain amount for all orders Example: The company may consider applying a debt term to the customer of 15 days, but if the customer pays early within days, the company will give the customer a payment discount of 1% of the total payment amount Customer X purchases goods from company PDF with a total value of VND 370,000,000 Upon receiving the goods, customer X has immediately paid VND 200,000,000 On the 6th day, when the customer pays the full amount for the goods, the discount the customer will enjoy is: 1% x 370,000,000 = VND 3,700,000 => Amount of customer X still has to pay: Tran Nhat Mai 118 CQ55/21CL.02 Graduation Thesis Academy Of Finance 370.000.000 – 200.000.000 – 3.700.000 = VND 166.300.000 Accounting for payment discount as follows: Dr Acc 112 166.300.000 Cr Acc 635 3.700.000 Cr Acc 131 170.000.000 * Conditions applied - The company trading goods and services has fierce competition from the market economy - The company trading goods and services with a large quantity, expanding in scale * Vouchers used for payment discount operations: - An economic contract is signed by two parties, in that contract stipulates early payment terms to enjoy payment discount - Value added invoices, goods delivery and receipt records Tran Nhat Mai 119 CQ55/21CL.02 Graduation Thesis Academy Of Finance - Bank statements to prove the buyer's money transfer 3.3.2 Opinion 2: Make allocated cost of sales, cost of business management for each commodity Tran Nhat Mai 120 CQ55/21CL.02 Graduation Thesis Academy Of Finance Currently, the Company does not allocate selling expenses and administrative expenses for each type of goods, but only aggregate once at the end of the month for all goods Therefore, although the Company has tracked the cost and revenue of each commodity, it has not yet determined the sales result for each item, so it is impossible to know which products are profitable and which are to be lost take timely strategic measures to bring economic efficiency to the Company Currently, the products sold by the Company are not much, the distribution of selling expenses is a simple and necessary job for corporate governance In the coming time, the Company should allocate selling expenses and administrative expenses to determine the sales results for each product of the Company The formula for distribution by sales is as follows: Selling expenses attributable to item A Selling expenses in the period = x Sales revenue of items A Sales revenue in the period The cost of the administration expense allocated to item A is also determined similarly From there, the Company determines the sales results of each item by the following formula: Results sales items A = Sales revenue of items A - Sales deductions for A Selling Administration expenses - expense allocated attributable to to item A item A Example: Considering Daikin RTXS25GVMV / RXS25GVMV Air Conditioner, the company has accumulated sales of air conditioners in the month: 360,000,000 VND Cost of steel item D8 is: 282,000,000 VND Selling expense for the month is: 60,120,000 VND General and administrative expenses are: 60,245,000 VND Total sales revenue in the month is: 1,592,000,000 VND Sales expenses attributable to Daikin RTXS25GVMV / RXS25GVMV Air Tran Nhat Mai = 60.120.000 x 121 360.000.000 = 13.594.975 CQ55/21CL.02 Graduation Thesis Academy Of Finance Conditioner in the month General and administrative expenses attributable to Daikin Air Conditioner Item RTXS25GVMV / RXS25GVMV in the month 1.592.000.000 360.000.000 = 60.245.000 x = 13.623.241 1.592.000.000 Sales results = 360.000.000 – 302.400.000 – 13.594.975– 13.623.241 = VND 30.381.784 Evaluate: From the above results, the profit from the company's sale of Daikin RTXS25GVMV / RXS25GVMV Air Conditioner is VND 30,381,784 According to chapter 2, the company's profit before tax in November is: VND 156,242,395 Thus, compared to the profit, Daikin RTXS25GVMV / RXS25GVMV Air Conditioner accounted for 19.45% of the profit before tax This is a high profit margin, but this also shows the inadequacy in the profits achieved It shows that other items are low profit margins or may be at a loss, the company needs to allocate selling expenses, administrative costs for each item to get an overview of profits of the products and for corporate governance * Conditions apply: - The company wants to determine the sales results of each item, thereby giving appropriate business solutions and strategies - Each item must be tracked in detail and completeness 3.3.3 Opinion 3: Make Provision for bad receivable debts An allowance for a portion of the receivable's value and other held-tomaturity investments of a similar nature to the irrecoverable receivable Accounting principles for bad debts reserve accounting When preparing the financial statements, the enterprise identifies bad debts and held to maturity investments of similar nature that are not claimable in order to create or reverse the required provision bad collection Conditions and bases for setting up the provision for bad debts Tran Nhat Mai 122 CQ55/21CL.02 Graduation Thesis Academy Of Finance - Must have original or debtor's written confirmation of the outstanding amount, including: economic contract, loan contract, liquidation of contract, debt commitment, debt comparison, - The level of provision for bad debts shall comply with the current regulations - Other conditions as prescribed by law The setting up or reversal of an allowance for bad debts is done at the time of preparing the financial statements - If the bad debt provision established at the end of this accounting period is larger than the balance of the bad debt provision recorded in the accounting books, the larger difference shall be recorded as an increase in provision and an increase in expenditure business management fees - If the bad debt provision set up at the end of this accounting period is smaller than the balance of the bad debt provision recorded in the accounting books, the smaller difference shall be reversed and recorded reduce business management costs For bad receivable debts that lasted for many years, the enterprise tried to use all measures to collect debts but still could not collect debts and determined that the debtor was really insolvent, the enterprise could must carry out procedures to sell debts to the debt purchase and sale company or write off bad debts on the accounting books The write-off of bad debts must comply with the provisions of the law and the enterprise's charter These debts are tracked in the corporate governance system and presented in the notes to the financial statements If the enterprise recovers the written debt after the debt has been written off, the debt collected will be recorded to account 711 "Other income" The accounting method Provision for bad receivable debts When preparing the financial statements, based on the receivable debts classified as bad debts, if the provision for bad debts to be set up in this accounting period is greater than the provision for bad debts The claims made in the previous Tran Nhat Mai 123 CQ55/21CL.02 Graduation Thesis Academy Of Finance accounting period have not been fully used, and the difference between the accountants shall supplement the following accounts: Dr Acc 642 - Enterprise administrative expenses Cr Acc 2293 - Provision for bad receivable debts When preparing the financial statements, based on the receivable debts classified as bad debts, if the provision for bad debts to be set up in this accounting period is smaller than the provision for bad debts The claims made in the previous accounting period have not yet been used up, the accountant shall refund the difference and record: Dr Acc 2293 Provision for bad receivable debts Cr Acc 642 - Enterprise administrative expenses For bad debts when it is determined that they cannot be recovered, the accountant shall write off debts according to current law provisions Based on the debt write-off decision, the following accounts shall be recorded: Dr Acc 111, 112, 331, 334, (compensation must be made by organizations and individuals) Dr Acc 2293 - Provision for bad receivable debts Dr Acc 642 - General and administrative expenses (the amount included in expenses) Cr Acc 131, 138, 128, 244, For bad debts whose debt has been written off, if the debt is recovered later, the accountant shall base on the actual value of the recovered debt, record: Dr Acc 111, 112, Cr Acc 711 - Other income Overdue receivables are sold at agreed prices, depending on the actual case, the accountant shall record as follows: • In case overdue receivables have not set up a provision for bad debts, the following accounts shall be recorded: Dr Acc 111, 112 (according to negotiated selling prices) Tran Nhat Mai 124 CQ55/21CL.02 Graduation Thesis Academy Of Finance Dr Acc 642 - General and administrative expenses (losses from selling debts) Cr Acc 131, 138,128, 244, • If overdue receivables have provisions for doubtful debts which have been set up but the amount of provision set up is not enough to offset losses when selling debts, the remaining losses shall be recorded into administrative expenses of enterprises, record: Dr Acc 111, 112 (according to negotiated selling prices) Dr Acc 2293 - Provision for bad receivable debts (amount of provision) Dr Acc 642 - General and administrative expenses (losses from selling debts) Cr Acc 131, 138,128, 244 • Accounting for the settlement of bad debts before a State enterprise is transformed into a joint stock company: The bad debt provision after the loss is compensated, if recorded as an increase in the State capital, record : Dr 2293 - Provision for bad receivable debts Cr 411 - Owner's invested equity Example: At the end of the accounting year 2020, there are overdue customers: No Customer Van Loc Production and Trade Company Limited Tien Manh Transportation Company Limited Tran Nhat Mai Amount of money Payment deadline Time overdue 12.135.000 20/4/2019 20 months 21.110.000 10/12/2019 12 months 125 CQ55/21CL.02 Graduation Thesis Academy Of Finance These are two customers that have overdue to pay debts but the Company has not made provision for bad debts, which has resulted in loss of capital or reduced profits of the Company Therefore, to ensure the principle of prudence in accounting, the Company should monitor debts and make provisions to ensure the compatibility between revenue and expenses during the period As at 31/12/2020, the company made a provision for doubtful debts for the two above customers => The amount to be appropriated is: 50% x (12,135,000 + 21,110,000) = 16,622,500 The accounting entries for setting up provisions: Dr Acc 642 16,622,500 Cr Acc 2293 16,622,500 * Conditions apply: - Overdue receivable debts stated in economic contracts, loan agreements, written commitments to contracts or debt commitments, the enterprise has claimed many times but has not yet received them Determination of the overdue period of a receivable debt is recognized as a bad debt setting up a provision based on the principal repayment period under the original purchase and sale contract, regardless of debt extension between parties - Debts receivable are not due to be paid but debtors have gone bankrupt or are undergoing procedures to dissolve, are missing, or flee 3.3.4 Some other issues that need attention - n order for the Company's financial situation to be really healthy and the accountant really plays its role as an effective tool for management, it is necessary to make public accounting and auditing work Tran Nhat Mai 126 CQ55/21CL.02 Graduation Thesis Academy Of Finance - Every few years, the Company can rotate the parts of accountants in charge of each other, in order to facilitate accountants to have an overview of the entire accounting process of the Company company, helping to improve the professional qualifications of the company's staff Since then, when returning to the old job, the employees can coordinate more harmoniously with each other 3.3 The conditions for implementing the solutions PDF Refrigeration Engineering Joint Stock Company is developing day by day Completing general accounting as well as sales accounting and determining business results is a very important task and within the ability of the Company to perform ty The company has equipped employees with computers as well as machine accounting applications in accounting to help reduce the work of accountants, avoid unnecessary mistakes and mistakes Adding more accounts for inventory provision expenses and bad debts will make the accounting system more cumbersome, but will reduce a lot of risks for the Company This the company is completely capable of doing 3.4 Some ideas to improve Management Accounting for sales and determining business results at PDF Refrigeration Engineering Joint Stock Company Management accounting is the field of accounting in order to grasp the problems of the financial situation of the business Thereby, it serves the internal administration and administrative decision-making and at the same time serves the control and evaluation of that enterprise - Companies and directors need to recognize the importance of management accounting in selling and determining business results - PDF Companies need to learn more about this field and upgrade their accounting software - To perform well the management accounting, the accountant needs to put in an estimate and norm of inventory, volume of goods purchased, volume Tran Nhat Mai 127 CQ55/21CL.02 Graduation Thesis Academy Of Finance of goods sold; put in an estimate for selling and administrative expenses; put in an estimate for the results of production and business activities for each period CONCLUSION CHAPTER The organization of sales accounting and determination of business results in enterprises in general, at PDF Refrigeration Engineering Joint Stock Company in particular has achieved a lot of high efficiency, especially in management However, besides the advantages, there are still disadvantages Therefore, the Company must constantly make more efforts in perfecting the accounting in general, the sales accounting and in particular to determine the business results in particular to further improve the accounting work of our company, constantly updating and applying the Circulars, regimes of the State, building a strong, tight and effective accounting system Tran Nhat Mai 128 CQ55/21CL.02 Graduation Thesis Academy Of Finance GENERAL CONCLUDE Facing the trend of global trade in the world today forces businesses that want to survive and thrive, they need to innovate and improve on all aspects In which, completing the accounting work at the enterprise has been one of the centers of this innovation and completion process The completion of the accounting work at the enterprise is to suit the characteristics of the business activities of the enterprise, to suit the requirements of the market economy and open economy For a commercial enterprise, selling is the business purpose of each enterprise If it can promote sales, can the business survive and develop Therefore, organizing sales accounting and determining business results is essential for every business After learning about the reality of accounting work at PDF Refrigeration Engineering Joint Stock Company, I have somewhat grasped the reality of organizing an accounting system in the enterprise, thereby better understanding general theory and knowing how to apply the knowledge learned in school into practice In particular, I have explored the sales accounting work and identified sales results, understood its role and importance in the accounting apparatus as well as in the management of business production understand the accounting processes and methods used In general, the accounting work of the business is relatively well organized Currently, the company is expanding its business scale, the volume of goods traded is increasingly large, the amount of economic operations arising more and more poses higher requirements for accounting work, especially Sales Accounting Therefore, the accounting apparatus in the coming time must promote the achieved achievements and constantly overcome the shortcomings Due to the short practice period, lack of practical experience and limited knowledge, the essay cannot avoid shortcomings and shortcomings I look forward to receiving comments from teachers to make my essay more complete, helping me to have good knowledge and experience for my future work I would like to thank the teachers in the faculty, staff and staff in the Finance - Accounting Department PDF Refrigeration Engineering Joint Stock Company for helping me complete my graduation thesis Tran Nhat Mai 129 CQ55/21CL.02 ... sales accounting at PDF Refrigeration Engineering Joint Stock Company 54 2. 2.3 Financial accounting for sale and determining business results at PDF Refrigeration Engineering Joint Stock. .. Joint Stock Company 52 2 .2. 1 Characteristics of sales activities and determine business results at PDF Refrigeration Engineering Joint Stock Company 52 2 .2. 2 Sales procedures and. .. CHAPTER 2: FINANCIAL ACCOUNTING FOR SALES AND DETERMINING BUSINESS RESULTS IN PDF REFRIGERATION ENGINEERING JOINT STOCK COMPANY 41 2. 1 Overview of PDF Refrigeration Engineering Joint Stock