INTERNSHIP REPORT TOPIC COMPLETE THE AUDIT PROCESS FOR THE ITEM COST OF GOODS SOLD AUDITED FINANCIAL STATEMENTS AT THE FAT AUDITING AND FINANCE COMPANY LIMITED

DUY TAN UNIVERSITY INTERNATIONAL SCHOOL INTERNSHIP REPORT TOPIC COMPLETE THE AUDIT PROCESS FOR THE ITEM COST OF GOODS SOLD AUDITED FINANCIAL STATEMENTS AT THE FAT AUDITING AND FINANCE COMPANY LIMITED.

DUY TAN UNIVERSITY INTERNATIONAL SCHOOL INTERNSHIP REPORT TOPIC COMPLETE THE AUDIT PROCESS FOR THE ITEM COST OF GOODS SOLD AUDITED FINANCIAL STATEMENTS AT THE FAT AUDITING AND FINANCE COMPANY LIMITED MENTOR : DR HO TUAN VU STUDENT : NGUYEN THI BICH NGOC CLASS : K24 PSU KKT ID NUMBER : 24202605009 Da Nang, May 2022 DUY TAN UNIVERSITY INTERNATIONAL SCHOOL INTERNSHIP REPORT TOPIC COMPLETE THE AUDIT PROCESS FOR THE ITEM COST OF GOODS SOLD AUDITED FINANCIAL STATEMENTS AT THE FAT AUDITING AND FINANCE COMPANY LIMITED MENTOR : DR HO TUAN VU STUDENT : NGUYEN THI BICH NGOC CLASS : K24 PSU KKT ID NUMBER : 24202605009 Da Nang, May 2022 ABSTRACTS Research problem • Research on general theory on auditing cost of goods sold item in the financial statement audit process • Describe and analyze the actual status of the audit of the cost of goods sold item in the audit process of financial statements performed by FAT Finance and Auditing Co., Ltd • Proposing solutions to improve the audit of cost of goods sold items in the audit of • financial statements performed by FAT auditing company Research Methods Researching audit records and audit program at FAT Auditing and Finance Co., Ltd Learn the actual process by interviewing some of the company's auditors Collect data from auditors directly at the client company Research Objectives Systematize the theory of the process of auditing cost of goods sold items in the • audit of financial statements; A practical study on the process of auditing cost of goods sold items in the financial • • • statement audit period at FAT, performed at a specific enterprise to point out the advantages and disadvantages towel; identify the difference between theory and practice on the research problem; • On the basis of theory and practice of the research problem, make assessments and propose some recommendations to contribute to perfecting the process of auditing cost of goods sold items in the audit of financial statements financial statements of the company FAT; Objects and Scope of Research • Research object: Process of auditing cost of goods sold item in financial statements audit at FAT • Research scope: Researching the application of the fixed asset audit process in the audit of financial statements at FAT DISCLAIMER I certify that the attached thesis is my original work No other person’s work has been used without due acknowledgement Except where I have l clearly stated that I have used some of the this material , it has not been presented by me for examination in any other course or subject at this or any other institution I understand that the work submitted may be reproduced and/or communicated for the purpose of detecting plagiarism I understand that should this declaration be false, I am libel to be penalized under the Duy Tan University regulations Signature: Date: ACKNOWLEDGMENTS First of all, I would like to thank the teachers of Duy Tan University, especially the teachers of the School's International Education Faculty, for the change in the teachers of Duy Tan University let me practice to complete the graduation thesis And I would also like to thank Mr Ho Tuan Vu for enthusiastically guiding me to complete the internship well Having obtained this internship report, I would like to express my sincere and deep gratitude to FAT Auditing and Finance Company Limited, the auditors of the Financial Statements The company has directly guided and helped me throughout the research and completion of the report During the practice, as well as during the implementation of the implementation report, it is difficult to avoid errors, we hope the teachers will ignore it At the same time, due to the limited theoretical level as well as practical experience, the article cannot avoid the shortcomings, we hope to receive comments from teachers and teachers so that I can learn more experience and will better complete the upcoming professional article Thank you sincerely! Da Nang, date of 2022 Nguyen Thi Bich Ngoc TABLE OF CONTENTS LIST OF ACRONYMS Management assertion A= Accuracy C= Completeness Classification = Classification E= Existence O= Occurrence Acronyms Full name BCKiT Audit report CĐKT Balance sheet BCKQHĐKD Income Statement Bảng CĐSPS Balance sheet amounts arising BCTC Financial report BGĐ Board of manager BQT Board CMKiT Auditing standard CMKTM Sample audit standards CP joint stock company GVHB Cost of goods sold GLV Working Paper KSNB Internal control KTV Auditor TSCĐ Fixed assets TK Account TNHH Limited Liability Company VACPA Sample audit program SPDD Unfinished products DTT Net sales HTK Inventory P&D = Presentation and explanation R&O = Rights and obligations V= Evaluate LIST OF TABLES LIST OF FIGURES Diagram 1.1 Cost of sales Accounting Diagram 1.2 Cost of sales Accounting Diagram 2.1: Organizational chart of FAT INTRODUCTION In the market economy, auditing becomes the essential need for production and business activities and improves management quality of all types of businesses Auditing brings honest, reasonable, objective and highly reliable information on the financial statements Auditing activities not only create confidence for those who are interested in the financial situation of the business, but also provide professional guidance and also reinforce the accounting and financial practices to improve business efficiency for the units audit Until now, financial statements have always been the main object of independent audit Financial statements are a mirror that reflects the results of operations as well as all aspects of the business production process This requires that the information on the financial statements always ensure truthfulness and reasonableness On the enterprise's financial statements, the cost of goods sold is one of the extremely important metrics that determine the existence and development of a business enterprise for profit purposes For a successful business, business results must be profitable To make profitable business results, of course, it is necessary to think about competitive advantage (market dominance), in which cost of goods sold is always one of the strategic factors Enterprises always find ways to minimize (reasonably) this kind of cost All plans and strategies for buying, selling, distributing, and supplying are outlined around cost of goods sold Because the cost of capital is low, it is possible to lower the selling price, stimulating the buyers If the cost of capital is low, the difference between COGS and selling price is high, and businesses can get more profits Because of receiving the importance of cost of goods sold item and the risks related to cost of goods sold item, I chose the topic: “Auditing cost of goods sold item in account report audit FAT Auditing and Finance Company Limited performs for ABC customers ” 10 APPENDIX NHẬN XÉT CỦA ĐƠN VỊ THỰC TẬP Tên đơn vị thực tập: Công ty TNHH Kiểm Tốn Tài Chính FAT Họ tên sinh viên thực tập: Nguyễn Thị Bích Ngọc Thời gian thực tập: Tại phận thực tập: Phịng Kiểm tốn BCTC Bảng nhận xét đánh giá trình thực tập sinh viên công ty Nội dung đánh giá Tốt Khá Trung bình Kém Thực nội quy làm việc Công ty Thái độ, tác phong thực tập Ý thức học tập Kiến thức chuyên môn Quan hệ giao tiếp Khả hồn thành cơng việc Đề tài có phản ánh tình hình thực tế đơn vị Nhận xét: Đà Nẵng, ngày.… tháng.… năm… Đại diện đơn vị thực tập (Ký tên, đóng dấu) ... UNIVERSITY INTERNATIONAL SCHOOL INTERNSHIP REPORT TOPIC COMPLETE THE AUDIT PROCESS FOR THE ITEM COST OF GOODS SOLD AUDITED FINANCIAL STATEMENTS AT THE FAT AUDITING AND FINANCE COMPANY LIMITED MENTOR... theory on auditing cost of goods sold item in the financial statement audit process • Describe and analyze the actual status of the audit of the cost of goods sold item in the audit process of. .. perfecting the process of auditing cost of goods sold items in the audit of financial statements financial statements of the company FAT; Objects and Scope of Research • Research object: Process of auditing