3 accounting for expenses, revenue, income and determination of business results at ha dong woollen joint stock company

Academy of Finance Graduation thesis DECLARATION I hereby declare this is my own research Data, results stated in graduation the thesis are honestly come from the actual condition of Ha Dong Woollen Joint Stock Company Hanoi, (date) 29 (month) (year) 2020 Graduation author Quach Thu Trang Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis ACKNOWLEDGEMENT Firstly, I would like to express my very great thankfulness to all lecturers in Accounting Faculty at Academy of Finance for their professional guidance and valuable support Especially, I would like to show my deep gratitude to my research Mentor Ms Tran Thi Ngoc Han, for her patient guidance, enthusiastic encouragement and useful critiques during the planning and development of my graduation thesis and for her assistance in keeping my progress on schedule I also want to thank Ha Dong Woollen Joint Stock Company for giving me permission to commence this thesis in the first instance, to the necessary research work and to use departmental data I have furthermore to thank the CEO and Chief Accountant as well as all seniors at Ha Dong Woollen Joint Stock Company who gave and confirmed this permission and encouraged me to go ahead with my thesis Finally, because of limitation of time and knowledge, mistakes are unavoidable, so I wish to receive more contribution and suggestions to make my thesis better Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis TABLE OF CONTENTS DECLARATION i ACKNOWLEDGEMENT .ii TABLE OF CONTENTS .iii LIST OF DIAGRAM vii LIST OF TABLES viii LIST OF ABBREVIATIONS ix INTRODUCTION CHAPTER 1: GENERAL THEORY OF ACCOUNTING FOR EXPENSES, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS IN THE BUSINESS SERVICE PROVIDER 1.1 The necessity and duties of accounting for expenses, revenue, income and determination of business results in business service provider (BSP) .4 1.1.1 Definitions of expense, revenue and business results .4 1.1.2 Management requirements of accounting for expense, revenue, income and business results in business service provider (BSP): .4 1.1.3 The necessity and duties of accounting for expense, revenue, income and business results determination in business service provider (BSP) 1.2 Accounting for expenses, revenue, income and determination of business results in business service provider (BSP) 1.2.1 Accounting for expense in business service provider (BSP) 1.2.1.1 Accounting for cost of goods sold (COGS) Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis 1.2.1.2 Accounting for selling expenses 1.2.1.3 Accounting for administrative expenses 11 1.2.1.4 Accounting for financial expense .13 1.2.1.5 Accounting for other expenses 15 1.2.1.6 Accounting for corporate income tax expense 17 1.2.2 Accounting for revenue in Business service provider 19 1.2.2.1 Accounting for revenue, income in BSP 19 1.2.2.2 Accounting for revenue deduction .23 1.2.2.3 Accounting for financial revenue .25 1.2.2.4 Accounting for other income .27 1.2.3 Accounting for business results 29 1.2.4 Organization of bookkeeping system systems of accounting for expenses, revenue, income and business results 31 1.2.4.1 General journal form of bookkeeping 31 1.2.4.2 Journal-Ledger form of bookkeeping 33 1.2.4.3 Journal voucher form of bookkeeping .34 1.2.4.4 Voucher form of bookkeeping 35 1.2.5 Accounting for expenses, revenue, income and determination of business results in the application of accounting software 37 1.2.6 Presentation on financial statement: 40 1.2.6.1 Preparing a balance sheet: 40 Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis 1.2.6.2 Preparing an income statement: 40 CONCLUSION OF CHAPTER 45 CHAPTER II: PRACTICAL SITUATION OF ACCOUNTING FOR EXPENSES, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY 46 2.1 Overview of Ha Dong Woollen Joint Stock Company 46 2.1.1 The foundation and development of Ha Dong Woollen Joint Stock Company 46 2.1.2 Characteristics of business operation at Ha Dong Woollen Joint Stock Company .48 2.1.3 Features of the business operation process at HAWOCO .48 2.1.4 Characteristics of organizing management mechanism 51 2.1.5 Characteristics of organizing accounting system 53 2.1.5.1 Organization of accounting apparatus 53 2.1.5.2 Characteristics of the accounting form and accounting software of the company 58 2.1.5.3 The accounting policies and basic accounting methods of Ha Dong Woollen Joint Stock 70 2.2 PRACTICAL SITUATION OF ACCOUNTING FOR EXPENSES, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY .71 2.2.1 Accounting expenses in the company 71 2.2.1.1 Accounting for cost of goods sold (COGS) .71 Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis 2.2.1.2 Accounting for selling expenses - 641 .82 2.2.1.3 Accounting for administrative expense – 642 83 2.2.1.4 Accounting for financial expenses 101 2.2.1.5 Accounting for other expense 107 2.2.2 Practical Accounting for revenue, income at Ha Dong Woollen Joint Stock Company .107 2.2.2.1 Accounting for revenue from service rendered 107 2.2.2.2 Accounting for financial income 141 2.2.2.3 Accounting for other income 147 2.2.3.Accounting for corporate income tax 148 2.2.4 Accounting for determination of business results .156 2.3 Several Comments on accounting for expenses, revenue, income and determination of business results at Ha Dong Woollen Company .166 2.3.1 Achievements .167 1) About the accounting voucher system .167 2.3.2 Limitations and the causes of limitations 168 CONCLUSION OF CHAPTER .171 CHAPTER 3: PROPOSALS TO IMPROVE ACCOUNTING FOR EXPENSE, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY 172 3.1 Development orientation of the company in the near future 172 Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis 3.2 Requirements and principles for improving accounting for expense, revenue, income and determination of business results at HAWOCO .172 3.2.1 Requirements for improving accounting for expense, revenue, income and determination of business results at HAWOCO 172 3.2.2 PRINCIPLES FOR IMPROVING ACCOUNTING FOR REVENUE, EXPENSES AND BUSINESS RESULTS AT HADOCO 174 3.3 Some solutions to improve accounting for expense, revenue, income and determination of business 175 3.4 Conditions for implementing solutions 177 CONCLUSION OF CHAPTER .180 CONCLUSION 181 REFERENCES 182 Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis LIST OF DIAGRAM Diagram 1.2.1.1 Accounting entries – Ac 632: Cost of goods sold Diagram 1.2.1.2: Accounting entries of Ac 641 – Selling expenses .10 Diagram 1.2.1.3 Accounting entries of Ac 642 – Administrative expense 12 Diagram 1.2.1.4: Accounting entries of Ac 635 – Financial expenses 14 Diagram 1.2.1.5 Accounting entries of Ac 811 – other expenses 16 Diagram 1.2.1.6: Accounting entries of Ac 821 – corporate income tax expenses 18 Diagram 1.2.2.1: Accounting entries of Ac 511 – Revenue 23 Diagram 1.2.2.2: Accounting entries of Ac 521 – Revenue deductions 24 Diagram 1.2.2.3 Account 515- Financial revenue 26 Diagram 1.2.2.4: Accounting entries of Ac 711 – other income 28 Diagram 1.2.3 Accounting entries of Ac 911 – Income summary 30 Diagram 1.2.4.1: Booking Procedures in “General journal” 32 Diagram 1.2.4.2: Booking procedure in “Journal- Ledger” 33 Diagram 1.2.4.3: Booking procedures in “Journal voucher” 35 Diagram 1.2.4.4: Booking procedures in “Voucher form” 36 Diagram 2.1.3 The features of operation process 49 Diagram 2.1.4: Organization of management mechanism 51 Diagram 2.1.5.1 Organization of accounting apparatus 54 Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis Diagram 2.1.5.2: Booking Procedures in “General journal” 59 Mentor: Tran Thi Ngoc Han Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis LIST OF TABLES Table 2.2.1.1.1 General Ledger of Ac 632 80 Table 2.2.1.1.2 Detailed book of Ac 632 .82 Table 2.2.1.3 General Ledger of Ac 642 .98 Table 2.2.1.4.1 General Ledger of Ac 635 106 Table 2.2.1.4.2 Detailed book of Ac 635 .106 TABLE 2.2.2.1.1 General Ledger 511 137 TABLE 2.2.2.2.1 General Ledger of Ac 515 .145 Table 2.2.3.1 General Ledger of Ac 821 .155 Table 2.2.3.2 Detailed book of Ac 821 156 Table 2.2.4.1 The General Ledger 911 162 Table 2.2.4.2 The General Ledger of Ac 421 163 Table 2.2.4.3 The income statement 166 Mentor: Tran Thi Ngoc Han 10 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis  Presenting information of accounting for expense, revenue, income and determination of business results Information relating to accounting for expense, revenue, income and determination of business results at Ha Dong Woollen Joint Stock Company is presented in the income statement To see income statement on Fast accounting software, follow these steps Step 1: From Fast working table, choose “tong hop”- general, select “bao cao tai chinh”- financial statements, then press “bao cao ket qua SXKD”- income statement like this Step 2: There is a form appear, fill proper accounting period in like this Mentor: Tran Thi Ngoc Han 167 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis Then we have income statement Mentor: Tran Thi Ngoc Han 168 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis Table 2.2.4.3 The income statement 2.3 Several Comments on accounting for expenses, revenue, income and determination of business results at Ha Dong Woollen Company Through studying the actual situation, I realize the organization of accounting for expenses, revenue, income and determination of business results at Ha Dong Woollen Joint Stock Company has ensured compliance with the accounting regulations of the State and the Ministry of Finance and in accordance with the actual conditions of the unit in the present time Mentor: Tran Thi Ngoc Han 169 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis In General, Organizing accounting for expenses, revenue, income and determination of business results at the company has lots of achievements that need to be maintained but the limitations still exist must overcome 2.3.1 Achievements 1) About the accounting voucher system Currently, the Company uses the accounting voucher system according to TT200 / 2014 / TT-BTC of the Ministry of Finance The system of accounting vouchers is made, checked and circulated strictly the order and process are suitable to the content of arising economic and financial operations legal basis of the operation The company uses the right original voucher template as prescribed suitable with arising sales operations, fully reflecting the content and honesty of information The accountant performs well the examination of legality and validity high accuracy This creates favorable conditions for accounting when finding data to compare and contrast 2) About applying accounting regime: The accounting for expenses, revenue, income and business results has ensured the consistency and coherence in terms of scope and method of calculation, some economic standards between the accounting department and other related departments and divisions Almost incurred financial and administration expenses are totally collected and displayed in the income statement and notes to financial statements This helps point out mistakes in determining net sales and net income for the company All most transactions are recorded completely, timely and matched with accounting requirements Perpetual accounting system is applied, which saves a lot of time and efforts for accountants 3) About accounting books: Mentor: Tran Thi Ngoc Han 170 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis The company uses the accounting form of General Journal This form is suitable with a computerized accounting system rather than the manual one Therefore, applying an appropriate accounting system has contributed to productivity increase The company's accounting book system in the form of a general journal includes some typical denominators: General Journal, Ledger, Detailed book, Cash book, Bank book 4) About documents storage The chief accountant clearly assigns each part of operation to each accountant Each accountant is in charge of which part of the act will keep the documents in the section Assigning such responsibilities will help accountants find documents when they need, and if documents are lost will clearly attribute the responsibility 5) About the application of software accounting system The application of specific accounting software is the application of accounting software FAST in the accounting of economic transactions generates public volume significantly reducing, saving time and providing information quickly and promptly and reliably Moreover when accountants are viewing and checking multiple reports together, accounting will be able to easily check the accounting errors 6) About financial reports: All financial statements used in HAWOCO have the same form stated by Ministry of Finance These forms are clear, logical and easy-to-follow 2.3.2 Limitations and the causes of limitations Beside achievements in accounting for expense, revenue, income and determination of business results, HAWOCO still has some shortcomings which should be eliminated gradually to perform better  Limitations Mentor: Tran Thi Ngoc Han 171 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis 1) About the original documents In the accounting department, all documents gathered have not been classified (according to each content) which are stored in a file including: VAT Invoice, Receipt, pay slip, etc Therefore, when comparing data or searching documents will cause difficulties and waste of time 2) About the organization of reasonable and valid vouchers According to the regulations on the full set of vouchers for the input VAT deduction, the Payment slip, Debit notice must be clamped with Input VAT Invoice and sorted by order self-declare VAT on the VAT return However, in reality accountants often not staple and not organize these documents on a regular basis but are regularly scheduled to clamp and arrange documents when tax authority inspector in the end of accounting period This will lead to time allocation is not balanced, there is a period of time the accountant will be idle and there will be a period accountants must work overtime and many pressures that affect quality accounting work 3) About using accounts: The company applies the accounting account system according to circular 200 / 2014 / TT-BTC issued December 22, 2014 and detailed by each sub-item Overall, account system isn’t reasonably organized with a lots detailed by each object, which may be hard for management purpose and operational characteristics of business activities of the company - Ac 532 - revenue deduction which is an old account, is still being applied in accounts system According to circular 200, it nowadays applies Ac 521 instead of Ac 532 to record revenue deduction - Moreover According to circular 200, Account 6427 - Expenses of outsourced services: Recording expenses of outsourced services served for firm management works Account 6428 - Other explicit expenses: Mentor: Tran Thi Ngoc Han 172 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis Recording other expenses belong to business overhead cost HAWOCO doesn’t comply with accounts system, all expenses of outsourced services and other explicit expenses are recorded on Ac 6428 As a results, it’s hard to monitor expenses incurring during accounting period when expense of Ac 6428 is overwhelming 4) About the quality of provision at HAWOCO In the year of 2019, The total revenue deduction is 1.221.042.955 which is double revenue deduction of last year It shows the management of service provision is not effective As a consequence, there is decrease in income, and more seriously could lose patrons, potential customers which is not good for future business operation  The causes of limitations HAWOCO’s accountants still have subjective attitude toward organization of vouchers The company’s accountants doesn’t usually update changes of circular 200 about accounting account system Although HAWOCO specializes on leasing assets, providing security and cleaning services, the company doesn’t have many activities of maintaining, repairing assets during the year, and not have strictly monitoring the efficiency of task of employees at security and cleaning department Mentor: Tran Thi Ngoc Han 173 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis CONCLUSION OF CHAPTER Above is the current accounting situation and determine the business results in HAWOCO Overall, accounting work of the company relative complies with the accounting regime according to Circular No 200/2014 / BTC issued by the Ministry of Finance After a time period of analyzing expense, revenue, income and business results, I have a basic overview of the process, organization and implementation of accounting for expense, revenue, income and determination of business results at the company is complete and reasonable with the characteristics of the business, ensuring timely information time However, the implementation process still has some limitations in management and organization of accounting work Therefore I suggest that HAWOCO should apply some of solutions to perform business activities better which will be represented in Chapter Mentor: Tran Thi Ngoc Han 174 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis CHAPTER 3: PROPOSALS TO IMPROVE ACCOUNTING FOR EXPENSE, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY 3.1 Development orientation of the company in the near future The company will make an effort to continue to maintain close relationships with existing customers of the company Finding more potential customers by different ways through media, acquaintance, relatives … Buying more new assets to diversify assets for leasing Improving security and cleaning services Expand business operation with commercial activities 3.2 Requirements and principles for improving accounting for expense, revenue, income and determination of business results at HAWOCO 3.2.1 Requirements for improving accounting for expense, revenue, income and determination of business results at HAWOCO In terms of market economy, increasingly fierce competition, the enterprises will constantly develop to expand trade relations and well serve consumers' needs In economic activities, the selling process is the most important final stage in the capital turnover process business in the business Goods capital usually account for a large proportion of the total business capital, therefore, must be closely monitored Therefore, necessary improvements of expense, revenue, income accounting and determine the business results both in terms of content and accounting methods to suit the reality of the business is one urgent issue to create the highest profit in the fierce competition in the market Mentor: Tran Thi Ngoc Han 175 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis To improve accounting for revenue, expense and determine business results in particular and the whole accounting in general, requires to meet some of the following requirements Improvements of accounting for expense, revenue, income and business results must be based on decisions issued by the Ministry of Finance on systematic and operational methods accounting records, accounting system, bookkeeping system, reporting regime comply with Vietnamese accounting standards Completion must be based on respect for financial institutions and respect for the accounting regime The organization of accounting records of revenue, expenses and determination of business results at the company must follow certain principles, ensuring compliance with institutional regulations Vietnamese accounting standards, as well as international accounting standards To complete this accounting must be based on the accounting documents that The State issued as accounting regime according to Circular No 200/2014 / TT-BTC dated 22/12/2014 of the Ministry of Finance, together with the circulars, documents, decisions on supplement and amendment in accordance with the basic spirit of the Accounting Law and the accounting standards Improvements must be based on compliance with the management characteristics of the company in accordance with the characteristics of business management, organization characteristics of the accounting work to bring the highest efficiency Each organization needs to have its own specific conditions especially about facilities, staff and employees… With the aim of make it better in the role of providing accounting information for internal corporate managers as well as for financial administrators, these persons who are concerned about the financial situation of the company, must Mentor: Tran Thi Ngoc Han 176 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis ensure that information is met promptly, accurately and appropriately according to management requirements It must ensure the requirements of thriftiness, efficiency and ability to perform: Savings and efficiency are one of the most important principles in management economy According to this principle, before doing any business work in any business form, we have to weigh the costs and the results This also completely consistent with improving on accounting for revenue, expense and determining business results at the company Improvements on accounting for revenue, expense and determining business results at the company need to be incorporated closely General Accounting and Detailed Accounting, between Financial Accounting and Management Accounting 3.2.2 PRINCIPLES FOR IMPROVING ACCOUNTING FOR REVENUE, EXPENSES AND BUSINESS RESULTS AT HADOCO In order to improve accounting for expense, revenue, income and determination of business results but still science because the ultimate goal of the company is profitable business with high efficiency HADOCO has to follow these principles Scientific and logical principles: Scientific principles must be ensured from defining and organizing organizational models to determine the content and scope of accounting work as revenue, expenses and determination of business results; Reasonable principles require not only stop at the arrangement of the structure, assigning work in a reasonable way but also have to identify the relationship between the accounting departments and between accounting and functions managing and controlling enterprises Matching principle: improving accounting for expense, revenue, income and determination of business results must ensure appropriate principles Mentor: Tran Thi Ngoc Han 177 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis consistent with company’s size, business characteristics of the company, management qualifications and requirements for using of information of business leaders Principles of saving and efficiency: improving accounting for expense, revenue, income and determination of business results is to ensure harmony between expenditures the company spend and benefits the company will get Cause after all the purpose of company is to improve economic efficiency, business management Inheritance Principle: improving accounting for expense, revenue, income and determination of business results does not mean building completely new but inheriting the advantages gained previously, to select and develop further to improve the accounting work at the unit 3.3 Some solutions to improve accounting for expense, revenue, income and determination of business During the internship time, learn about the actual situation of the work of accounting for expense, revenue, income and business results at HAWOCO, I see that the company's accounting has basically complied with the accounting regime issued by the State and the Ministry of Finance But besides the positive sides the company has been achieving, accounting for expense, revenue, income and business results at HAWOCO still cannot avoid the unreasonable shortcomings On a research basis of theory and practice at the company, I would like to suggest some ideas and solutions to contribute part of further improving the work of revenue, expense and business results accounting at HAWOCO is as follows 1) About improving the process of circulating accounting vouchers The original documents when were transferred to the office need to be classified and arranged separately according to each content to facilitate the Mentor: Tran Thi Ngoc Han 178 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis tracking and collating data to enter into related records, cards, boards For example, you can arrange them in the following way: VAT invoices, receipts, payment slip each is saved in a different set In each that folder is broken down again into smaller files sorted by month So when the number is needed At any time, accountants can easily get the data they need 2) About the organization of reasonable and valid vouchers Accountants should regularly staple Payment Slip, Debit Notice along with input VAT invoices and arrange by order of VAT declaration on VAT Declaration Thus, accountants will balance working time, avoiding the pressure jobs every time tax authorities come 3) About using accounts: The company should usually upgrade the accounting account system according to circular 200/2014/TT-BTC issued December 22, 2014 and have it detailed by each sub-item to make accounts system be reasonably organized ,detailed by each object and be suitable to management purpose and operational characteristics of business activities of the company - Change Ac 532 into Ac 521 to record transaction of revenue deduction - Divides Ac administrative expense 6428 into two accounts: Ac 6427 and 6428 with the view of easily monitoring specific transactions like  Account 6427 - Expenses of outsourced services: Recording expenses of outsourced services served for firm management works such as expenses of purchasing and using of technical documents, patents, (having not enough requisition to be recorded a fixed assets) , water, petroleum, phone charge…  Account 6428 - Other explicit expenses: Recording other expenses belong to business overhead cost, in addition to above mentioned Mentor: Tran Thi Ngoc Han 179 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis expenses, such as: expenses of conference, expenses of entertainment, traveling expenses, expenses for finale laborers 4) About the quality of provision at HAWOCO HAWOCO should have more new assets to diversify customer’s needs like construct new buildings for leasing offices, large places for leasing supermarkets Usually have a look at existing assets, have them repaired when it’s necessary to make sure that they are in good conditions and are ready for leasing Decorating, painting buildings, offices, to make them attractive to customers Strictly monitoring the efficiency of completing tasks of employees in security and cleaning departments Punishing seriously to violations, who are irresponsible to their assigned tasks and dismiss them in the necessary cases Often recruiting new employees to make competition as well as find qualified people who are suitable for the company to make the company develop Building up closing relationships with customers, having customer services care for customers make them believe and continue to use the company’s services 3.4 Conditions for implementing solutions Improvement of accounting work in general and accounting for revenue, expense and business results in particular is an indispensable and necessary issue which should be carried out continuously To ensure accuracy and science for improvements at HAWOCO the company needs to ensure some of the following conditions Needing to properly evaluate the actual business situation of enterprises, promote strengths and overcome problems, but still ensure the scientific, accurate information, from which usefully contribute for businesses, create Mentor: Tran Thi Ngoc Han 180 Quach Thu Trang – CQ54/21.12 Academy of Finance Graduation thesis favorable conditions for businesses to grow stronger and enhance company’s performance The company needs to regularly update the accounting regime, accounting standards and the latest Ministry of Finance current accounting regulations as well as relevant tax laws Complying with the current accounting regime is shown on complying with standards, methods and reporting system from which applying into your company's accounting system The board of directors of the company must have a high responsibility for caring of staff, financial situation and all aspects of the company: closely monitoring and supervising the work of accountants, avoiding accidents errors or nonconformities with the business of the company Additionally, leadership also needs to be at the forefront of setting an example for everyone to follow company rules HAWOCO should have fully advanced modern technical material facilities for accounting work as well as management work Technical department in company also needs to regularly check the safety of computer systems and networks at the company, to ensure the transmission line is stable, avoid interrupting the employee’s work The company needs to organize personnel appropriately, ensure the correct return of quantity and quality, the right people in the right jobs, the right professional order The company needs to create more engagement with employees so they can be ready to devote their time and intelligence to the sustainable development of the company Also creating comfortably working environment to avoid stress and pressure for employees, therefore they can be able to complete the assigned tasks in the most efficient way Mentor: Tran Thi Ngoc Han 181 Quach Thu Trang – CQ54/21.12 ... BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY CHAPTER 3: PROPOSALS TO IMPROVE ACCOUNTING FOR EXPENSES, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY. .. methods of Ha Dong Woollen Joint Stock 70 2.2 PRACTICAL SITUATION OF ACCOUNTING FOR EXPENSES, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY. .. ACCOUNTING FOR EXPENSES, REVENUE, INCOME AND DETERMINATION OF BUSINESS RESULTS AT HA DONG WOOLLEN JOINT STOCK COMPANY 46 2.1 Overview of Ha Dong Woollen Joint Stock Company 46 2.1.1 The foundation