(Đồ án hcmute) accounting for consumption and evaluation of business results at dai duong xanh limited company

MINISTRY OF EDUCATION AND TRAINING HO CHI MINH CITY UNIVERSITY OF TECHNOLOGY AND EDUCATION FACULTY HIGH QUALITY GRADUATION THESIS MAJOR ACCOUNTING ACCOUNTING FOR CONSUMPTION AND EVALUATION OF BUSINESS RESULTS AT DAI DUONG XANH LIMITED COMPANY Student’s name : TRẦN LÂM MINH ANHStudent’s ID : 17125008 Instructor: NGUYỄN THỊ LAN ANH SKL 0 Ho Chi Minh City, February 2021 Luan van HO CHI MINH CITY UNIVERSITY OF TECHNOLOGY AND EDUCATION FACULTY HIGH QUALITY GRADUATION THESIS ACCOUNTING FOR CONSUMPTION AND EVALUATION OF BUSINESS RESULTS AT DAI DUONG XANH LIMITED COMPANY Student’s name : Student’s ID : School year : Major : Instructor: TRẦN LÂM MINH ANH 17125008 2017 ACCOUNTING NGUYỄN THỊ LAN ANH Ho Chi Minh City, February 2021 I Luan van GRADUATION THESIS TASK CỘNG HÒA XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lâp – Tư – Hạnh phúc *** Tp Hồ Chí Minh, ngày - tháng - năm 2014 NHIỆM VỤ KHÓA LUẬN TỐT NGHIỆP Họ tên sinh viên: MSSV: Ngành: Lớp: Giảng viên hướng dẫn: ĐT: Ngày nhân đề tài: Ngày nộp đề tài: Tên đề tài: Các số liệu, tài liệu ban đầu: Nội dung thưc đề tài: Sản phẩm: TRƯỞNG NGÀNH GIẢNG VIÊN HƯỚNG DẪN I Luan van INSTRUCTOR’S COMMENT NOTE CỘNG HOÀ XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lập – Tự – Hạnh Phúc ******* PHIÊU NHẬN XÉT CỦA GIÁO VIÊN HƯỚNG DẪN Họ tên Sinh viên: MSSV: Ngành: Tên đề tài: Họ tên Giáo viên hướng dẫn: NHẬN XÉT Về nội dung đề tài & khối lượng thưc hiện: Ưu điểm: Khuyết điểm: Đề nghị cho bảo vệ hay không? Đánh giá loại: Điểm:……………….(Bằng chữ: ) Tp Hồ Chí Minh, ngày tháng năm 20… Giáo viên hướng dẫn (Ký & ghi rõ họ tên) II Luan van REVIEWER’S COMMENT NOTE CỘNG HOÀ XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lập – Tự – Hạnh Phúc ******* PHIÊU NHẬN XÉT CỦA GIÁO VIÊN PHẢN BIỆN Họ tên Sinh viên: MSSV: MSSV: MSSV: Ngành: Tên đề tài: Họ tên Giáo viên phản biện: NHẬN XÉT Về nội dung đề tài & khối lượng thưc hiện: Ưu điểm: Khuyết điểm: Đề nghị cho bảo vệ hay không? Đánh giá loại: Điểm:……………….(Bằng chữ: ) Tp Hồ Chí Minh, ngày tháng năm 20… Giáo viên phản biện (Ký & ghi rõ họ tên) III Luan van APPRECIATION To complete this graduation thesis, I would like to send my sincere thanks to all the teachers at the Ho Chi Minh City University of Technology and Education, especially all teachers working in Faculty of High Quality Training for teaching and imparting valuable knowledge and experiences to me during the years of studying at school I truly appreciate Ms Nguyen Thi Lan Anh for her wholehearted guidance and assistance so that I can complete this thesis well I would also like to thank the board of directors and all the staffs in the accounting department of Dai Duong Xanh Limited Company for helping me and providing necessary data for me to write this thesis Due to limited knowledge and limited practice time, I cannot avoid my shortcomings and limitations So I look forward to receiving contributions and reviews from the teachers and brothers and sisters in the company, helping me to improve my knowledge in the future I wish all the teachers in the school and staffs in the company have great health for good work Thank you sincerely IV Luan van SUMMARY In economic activities, the field of trading and consuming goods and services is of particular importance in the economy The consumption of finished goods is the deciding factor in the success or failure of the business Consumption represents the competitiveness and prestige of the enterprise in the market In addition, the results of consumption are an aggregate quality indicator that reflects the final financial results of the business activity in the enterprise If the financial situation is good, it will prove that the business is doing well and will be able to improve the financial capacity of the business At the same time, excessive business results help the firm grasp all of its activities through expenditures that reflect its performance This makes it possible for enterprises to grow and business too effectively Recognizing the importance of this issue, I chose to study the topic: “Completing consumption accounting and determining business results at Dai Duong Xanh Limited Company” In this thesis, I started from chapter I to introduce about Dai Duong Xanh Limited Company The content of chapter II includes theoretical basis for accounting of consumption and business result determination in enterprises Then in chapter III, I mentioned the current situation of accounting of consumption and business result determination at the company In the last chapter, I would like to give some recommendations to improve accounting of consumption and business result determination at the Company V Luan van TABLE OF CONTENTS GRADUATION THESIS TASK I INSTRUCTOR’S COMMENT NOTE II REVIEWER’S COMMENT NOTE III APPRECIATION IV SUMMARY V TABLE OF CONTENTS VI LIST OF ACRONYMS IX LIST OF CHARTS X LIST OF REFERENCES .XI INTRODUCTION CHAPTER I: INTRODUCTION OF DAI DUONG XANH LIMITED COMPANY 1.1 Overview of the Company 1.1.1 Establishment and development 1.1.2 Fields of business 1.1.3 Management organizational characteristics 1.1.4 Accounting organization .7 1.1.5 Accounting method of the Company CHAPTER II: THEORETICAL BASIS FOR ACCOUNTING FOR CONSUMPTION AND EVALUATION OF BUSINESS RESULTS IN ENTERPRISES 11 2.1 Overview of accounting for consumption and evaluation of business results 11 2.1.1 Concept of consumption .11 2.1.2 Concept of Evaluation of business results 12 2.1.3 Tasks of Accounting for consumption and Evaluation of business results 12 2.1.4 Roles of Accounting for consumption and Evaluation of business results 13 2.2 Methods of consumption and payment 13 2.2.1 Consumption methods 13 2.2.2 Payment methods 14 2.3 Accounting for consumption .14 2.3.1 Accounting for sales 14 2.3.2 Accounting for revenue deductions 18 2.3.3 Accounting for cost of goods sold 19 2.4 Accounting for general & administration expenses 23 2.4.1 Accounting for general & administration expenses 23 2.4.2 Accounting for financial activities income 23 VI Luan van 2.4.3 Accounting for expenses of financial activities 26 2.4.4 Accounting for other income .27 2.4.5 Accounting for other expenses 30 2.4.6 Accounting for corporate Income tax charge 32 2.4.7 Accounting for evaluation of business results 34 CHAPTER 3: ACTUAL SITUATION OF ACCOUNTING FOR CONSUMPTION AND EVALUATION OF BUSINESS RESULTS IN THE COMPANY 38 3.1 Actual situation of accounting for consumption and evaluation of business results in the company 38 3.1.1 Consumption characteristics in Dai Duong Xanh Limited Company 38 3.1.2 Accounting for revenues of sales and service provision .38 3.1.3 Accounting for sales deductions 44 3.1.5 Accounting for Business management cost 49 3.1.6 Accounting for financial income 53 3.1.7 Accounting for financial expenses 54 3.1.8 Accounting for other income .54 3.1.9 Accounting for other expenses 54 3.1.10 Corporate income tax expense accounting 54 CHAPTER 4: SOME RECOMMENDATIONS TO COMPLETE THE ACCOUNTING FOR CONSUMPTION AND EVALUATION OF BUSINESS RESULTS IN THE COMPANY .63 4.1 The need and the principle of perfecting consumption accounting, determining business results at Dai Duong Xanh Limited Company 63 4.2 General assessment of current situation of accounting for consumption and Evaluation of business results in the company .65 4.2.1 Advantages 65 4.2.2 Limitations 66 4.3 Some recommendations to complete and perfect the accounting for consumption and Evaluation of business results in the Company 67 4.3.1 About account 521 68 4.3.2 About accounting software 67 4.3.3 About mode of consumption 67 4.3.4 Regarding tracking short-term receivables 68 4.3.5 Regarding the opening of Subsidiary ledger of ACC 64221 and ACC 64217 68 4.3.6 Regarding accounting books and vouchers 68 4.3.7 Regarding the remuneration 68 4.3.8 Regarding language skills 74 VII Luan van CONCLUSION 72 APPENDIX 73 VIII Luan van Lately there are many marketing service available at resonable prices, they will research market, rely on the company’s field of activity to find target 4.3.4 Regarding tracking short-term receivables For customers with due debt payables, the company should send them advance notices to remind about their debt payment, periodically sending a balance sheet to each customer, especially to those too much overdue debt and no longer ability to pay debts It is necessary to have specific regulations and measures in debt collection which must ensure that the two principles: (1) the interests of the company are not infringed, and at the same time, (2) customers will not leave the company The accountant needs to prepare a debt tracking report: Debt tracking report form: (Appendix No.7) 4.3.5 Regarding the opening of Subsidiary ledger of ACC 64221 and ACC 64217 - The accountants merge accounts 64221 and account 64217 into the one general account 642, which may result in errors The accountants need to separate into Subsidiary ledger of account 64221 and Subsidiary ledger of account 64217 for easy monitoring and management Sample of Subsidiary ledger account: (Appendix No.8) 4.3.6 Regarding accounting books and vouchers - The original documents, when being delivered to the office, should be classified and arranged for a neat, straightforward, tidy science, numbered, signed, logically compiled into a set system for the convenience of monitoring and comparing data - On monthly, quarterly and annual basis, the accountants must re-check all data to see if there is any loss of documents, damage or termite If any, immediately report to the Director for timely action If not, the seal will be put back in the cabinet and kept as before If the preservation of accounting vouchers is performed well, it will bring high efficiency and long-term storage - The input invoices should be collected and save in booklet monthly or quarterly, arranged in the order on the VAT declaration which makes finding invoices become quicker and easier 4.3.7 Regarding preferential policies (Remuneration) - In order to organize tour sales well and increase revenue, the company should have preferential policies and promotions for customers such as for customers to enjoy commercial discounts and sales discounts for customers who book large-scale tours 68 Luan van - Encourage everyone in the company to pay insurance Communicate for all of employees to understand the benefits of these insurance And increasing the employee’s insurance premiums, although it will increase the business cost, but improving labor productivity and increasing business efficiency 4.3.8 Language skills The company should encourage employees to study and take exams for English certificates to improve their language skills Can be motivated by raising salaries or bonuses for staff with a foreign language degree with high scores 4.4 Orientation to improve profit at Dai Duong Xanh Limited Company General assessment of business performance: The company is expanding its business to new markets, investing in more modern equipment, improving the quality of human resources as well as the quality of customer service to meet the increasing travel needs of capital people Some measures to improve business efficiency of the company: - Expanding service market: Operating in the business field, every enterprise must determine for themselves a reasonable business strategy with their conditions, in which the target market strategy plays a significant role Market is a decisive factor to the business performance of the company In order to improve business efficiency in general and consumption efficiency in particular, the company needs to have an appropriate market expansion strategy First of all, the company needs to serve regular customers well and take measures to expand markets to serve: Strengthen advertising measures, marketing clearly shows the service quality and reputation of the Company Strengthening promotional policies, implementing trade discounts for large and regular customers of the company Build a dynamic staff, have policies that care about human resources such as salary and bonus policies, and create conditions for employees to serve customers in the best way - Manage well the cost of business management: Expenses are the amount spent to generate revenue, but they are the expenses of the business Therefore, the economical and reasonable use of the expenses of this business will have a great impact on the business performance of the company Cost savings are to reduce the amount of material consumption per unit of product, increase the volume of products and services produced, and reduce the cost of the 69 Luan van supplied goods In that sense, saving costs has been the striving target of companies and businesses in all economic sectors For Dai Duong Xanh Limited Company, in order to improve the efficiency of production and business in addition to increasing revenue, the company needs to know how to save business costs In order to save costs, I would like to recommend some of the following measures: Purchasing materials and spare parts necessary for the process of repairing and renewing means of transport must be purchased from reliable and guaranteed sources, without buying goods of clear origin, unsatisfactory quality, and anti-wastefulness fees when buying raw materials, limiting buying from multiple sources will make it difficult to manage prices and sources of materials Operating expenses include two expenses, which are selling expenses and administrative expenses, but due to the characteristics of their business activities (service activities), selling expenses account for the proportion of small in total cost (These two expenses are aggregated in account 642) Therefore, the main solution needs to focus on reducing business management costs First of all, the company needs solutions to reduce unnecessary costs such as: telephone costs, electricity costs, to avoid widespread usage For expenses for meetings and reception, the company should have specific regulations on the amount of money to be spent for each meeting In addition, the company should disseminate the thrift practice policies to each employee, asking everyone to cooperate At the end of the year, there are rewarding and sanctioning policies for individuals and divisions that have not done well - Improve service quality: As we know the quality of services provided to customers is a very important issue for a business enterprise in the service sector If the service quality does not meet the needs of the customer, that service will not be available for long Here are some solutions to improve the quality of customer service - Increased customer engagement: In the customer service industry is the most important person, customers express their opinion on the quality of service used through customer feedback and participation in the implementation of the service Therefore, customer participation affects the quality of services provided and enhances customer participation is also an important measure to increase service quality to attract customers to use our services company 70 Luan van In addition, in order to increase business efficiency, it is necessary to synchronously coordinate among departments in the company, in which accountingis the most effective financial tool 71 Luan van CONCLUSION The transportation industry in general and the passenger transport in particular always play an important role in the development of each country as well as the development of industries in the country's economy, The transport industry ensures the smooth match between branches in the national economy and the expansion of cultural exchanges between regions Therefore, innovation to improve the quality of the transport industry is one of the urgent requirements In order to that, the company must perfect itself and improve the quality of its operations In the process, the accounting work is the first and important factor that needs to be completed, creating the basis for the business perfecting other factors Accounting in general and consumption accounting, determining business results in particular play a role as the most effective tool in business management During the process of theoretical research and practical research, I boldly went into the topic: "Accounting of consumption and business result determination in Dai Duong Xanh Limited Company" The subject mentioned and solved a number of issues about the organization of the accounting apparatus and the organization of accounting for consumption and determination of results in Dai Duong Xanh Company On the basis of the stated fact, the subject has analyzed the advantages to be promoted and the shortcomings to be overcome of the accounting system at the company From there, give some measures to improve accounting in general and sales accounting and determine the results in particular However, this is a rather wide and complex issue, so the topic cannot be fully covered, but has only studied in depth some major issues of consumption accounting and determining business results From there, seeing the points that need to be promoted and proposing some ideas to further improve this accounting practice for analyzing and evaluating results, perfecting the management apparatus and organize business to help the company survive and grow Due to the wide scope of the topic, the short internship time and limited knowledge, my topic is definitely not certain of the shortcomings I look forward to receiving the attention and suggestions of teachers During the internship and writing internship, I have received enthusiastic attention and help from all staff in the accounting department of Dai Duong Xanh company, with the dedicated help of Ms Nguyen Thi Lan Anh I would like to thank all the Accounting Department staff of the company and Ms Nguyen Thi Lan Anh for helping me complete this graduation topic 72 Luan van APPENDIX APPENDIX NO.1 No Questions Department What is the company's organizational structure? HR department What are the accounting policies and regimes applied by the company? Accounting department The company's accounting year? Accounting department How to put VAT invoice data into the accounting software? Accounting department How does the accountant record revenue? Accounting department How to classify costs, transfer costs? Accounting department How companies income tax? Accounting department calculate corporate 73 Luan van APPENDIX NO 2: VAT INVOICE 74 Luan van APPENDIX NO 3: VAT INVOICE 75 Luan van APPENDIX NO 4: VAT INVOICE 76 Luan van APPENDIX NO 5: PAYROLL 77 Luan van APPENDIX NO.6: INCOME STATEMENT 78 Luan van APPENDIX NO 7: DEBT TRACKING REPORT FORM 79 Luan van APPENDIX NO 8: SAMPLE OF SUBSIDIARY LEDGER ACCOUNT 80 Luan van 81 Luan van S K L 0 Luan van ... situation of accounting of consumption and evaluation of business result at Dai Duong Xanh Limited Company - Part IV: Some recommendations to improve accounting of consumption and evaluation of business. .. Actual situation of accounting for consumption and evaluation of business results in Dai Duong Xanh Limited Company 3.1.1 Consumption characteristics in Dai Duong Xanh Limited Company - Business. .. of Accounting for consumption and Evaluation of business results 12 2.1.4 Roles of Accounting for consumption and Evaluation of business results 13 2.2 Methods of consumption and payment