Accounting for salary and salary deduction at hoa binh investment and development corporation

NATIONAL ECONOMICS UNIVERSITY CENTRE FOR ADVANCED EDUCATIONAL PROGRAMS BACHERLOR'S THESIS Major:Accounting Topic: ACCOUNTING FOR SALARY AND SALARY DEDUCTION AT HOA BINH INVESTMENT AND DEVELOPMENT CORPORATION Student’s Name: Ta Yen Trang Class: Advanced Accounting A Intake: 54 Student ID: 11124231 Internship guide: Ms Nguyen Thi Huong Instructor: Assoc Prof Dr Pham Thi Bich Chi Hanoi, 2016 Table of Contents ACKNOWLEDGEMENTS ABBREVATION LIST OF TABLES LIST OF DIAGRAM EXECUTIVE SUMMARY CHAPTER 1: INTRODUCTION .1 1.1RATIONAL .1 1.2 RESEARCH OBJECTIVES 1.2.1 General objectives .2 1.2.2 Specific objectives 1.3 METHODOLOGY 1.4 RESEARCH SCOPE .3 1.4 STRUCTURE OF THESIS .3 CHAPTER 2: THEORETICAL FRAMEWORK OF PAYROLL ACCOUNTING 2.1 THE CONCEPT OF SALARIES AND SALARY DEDUCTIONS 2.1.1 The concept of salaries .4 2.1.2 The concept of the salary deductions 2.1.3 Economic Content of accounting salaries and salary deductions 2.1.4 Factors affecting salary .7 2.1.5 The basic principle in wages .7 2.2 FUNTIONS OF SALARIES AND SALARY FORMS 2.2.1 The function of salaries .7 2.2.2 Salary and workforms 2.3 SALARY DEDUCTIONS .15 2.3.1 Salary funds .15 2.3.2 Salary Deductions 16 2.4 ACCOUNTING SALARY 19 2.4.1 Functions of Payroll Accountant 19 2.4.2 Accounting for labor and labor time .19 2.4.3 Documents used 23 2.4.4 Account used 23 2.4.5 Generall acounting for salary 24 2.5 ACCOUNTING FOR SALARY DEDUCTIONS .26 2.5.1 Documents used 26 2.5.2 Account used 27 2.5.3 General Accounting for salary deduction .28 Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi CHAPTER 3: 30CURRENT SITUATION OF PAYROLL ACCOUNTING AT HBI COMPANY .30 3.1 OVERVIEW ABOUT HBI COMPANY .30 3.1.1 Establishment and development of the company 30 3.1.2 Product features .32 3.1.3 Characteristics of the Business Operation of HBI Company .32 3.1.4 Organizational structure of the company 34 3.1.5: Structure of labor force at HBI Company 36 3.2 STRUCTURE OFF ACCOUNTING SYSTEM ATT HBI COMPANY 38 3.2.1 Organization structure of accounting department at HBI Company .38 3.2.2 General knowledgement about accounting information system of the company 41 3.3 ACCOUNTING FOR SALARY AT HBI COMPANY 43 3.3.1 Form of salary at HBI Company 43 3.3.2 Process of accounting for salary at HBI company 44 3.4 ACCOUNTING SALARY DEDUCTIONS: SOCIAL INSURANCE, HEALTH INSURANCE, LABOR UNION FEE AND UNEMPLOYMENT INSURANCE 51 CHAPTER 4: DISCUSSION AND SOLUTION TO IMPROVE PAYROLL ACCOUNTING AT HBI COMPANY 69 4.1 Assessment of the status of the Payroll Accounting and salary deductions at the HBI Company .69 4.1.1 Advantages .70 4.1.2 Disadvantages 72 4.2 SOME SOLUTION TO IMPROVE PAYROLL ACCOUNTING AT HBI COMPANY 72 4.2.1 The neccesary to improve the accounting salary and salary deductions 72 4.2.2 Some solution in order to improve the accounting salaries and salary deductions 74 CHAPTER 5: CONCLUSION 78 REFERENCE 79 APPENDIX .80 Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi ACKNOWLEDGEMENTS Thanks to the support and assistance of many people, the internship and the thesis was completed successfully Firstly, I would like to express my gratitude to the Advanced Education Program (AEP), for their logical schedule and their responsible supervision which helpedme complete this internship program Next, I give the special thanks to my great supervisor,Assoc Prof Dr Pham Thi Bich Chi Having received the continuous guidance, important advices and great supports, the report was completed with the result beyond my expectation I also want to take the opportunity to express a gratitude to HBI Company, especially to my direct instructor, Ms Nguyen Thi Thu Huong, for the support, valuable information and guidance which help me finish this task Without them, I might not be able to finalize the report Last but not least, I really appreciate my teammates for the great coordination and teamwork Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi STATUTORY DECLARATION I herewith formally declare that I myself have written the submitted Barchelor’s Thesis independently I did not use any outside support except for the quoted literature and other sources mentioned at the end of this paper Hanoi, ./ / 2016 Signature Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi ABBREVATION Acc CA CEO HI S UI Student: Ta Yen Trang : Account : Chief Accountant : Chief Executive Officer : Health Insurance : Social Insurance : Unemployment Insurance Instructor: Assoc Prof Dr Pham Thi Bich Chi LIST OF TABLES Table 2.1: Salary deduction Amount Table 3.1: Business Performance of HBI Company from Table 3.2: Scope of business of HBI Company Table 3.3: Labor Structure of HBI Company Table 3.4: Timesheet Table 3.5: Payment Table Table 3.6: Kinds of Bonus Table 3.7:Payment Bonus Table Table 3.8: Table of Allocation of Salary Table 3.9 : Allocated table of payment salary and salary deduction Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi LIST OF DIAGRAM Diagram2.1 Accounting 334 and corresponding accounts  Diagram2.2 Accounting 338 and corresponding accounts  Diagram 3.1: Business Process of HBI Company Diagram 3.2: Organization Structure of HBI Company Diagram 3.3: The management off Accounting Department Diagram (appendix) : Accounting cycle in HBI Company Diagram (appendix) : Recording process in accounting software Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi EXECUTIVE SUMMARY Production of material goods is the basis of the existence and development of human society To conduct the production, there must be three elements: Labor, Land, and Capital Without one of those elements, the production process will not take place Furthermore, the human labor plays an important role in the manufacturing process, material factors of production is important, but without the labor associated with human, the means of production does not promote work, salary is just full of human motivation in business production and a cost is made up in the cost of products, working tools, services, salary is a critical lever to improve the efficiency of production and business labor productivity growth, which acts to encourage employees in every business to actively participate in the labor and income for themselves and family When conducting production activities, the question for business managers is how much salary should be spent For the employer, the question is how to increasethe efficiency during the production process, hence laying out the production plan for the next period This is why the wage accounting is very important for enterprises The analysis about the assessment of the salary fund implementation plan which aim to provide the managers an overview of thesalary implementation for the entire enterprise Moreover, ithelps them see the advantages and disadvantages in managing business activities, as well as to researchthe policy regimes wage norms The bonuses act as a reward for the employee’s contributions and also to keep the workers Having obtained the meaning and importance of salary and salary deductions in business, along with the desire to apply theacademic knowledge in real-life cases, i have chosen to practice the theme: "Accounting of salary and salary deductions at Hoa Binh Investment and Development Corporation" However, due to a limited time, I just focused on the salary and salary deductions in 2013, 2014 and 2015 topoint out matters that are most common regarding the accounting of salary and propose solutions to resolve outstanding issues on salary at Hoa Binh Investment and Development Corporation Contents of my thesis consist of parts: - Chapter 1: Introduction - Chapter 2: Theoretical framework of payroll accounting - Chapter 3: Current situation for payroll accounting at HBI Company Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi - Chapter 4: Solutions to improve payroll acounting at Hoa Binh Investment and Development Corporation (Discussion and Recommendation) - Chapter 5: Conclusion Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 71 balance and financial statement In accounting for payrolls, ledgers involved are account 334 and 338 ledgers The format of the ledger is same as book of prime entries, but in summary Acc 334 : from the ledger recording vouchers, accountant collect and record into the general ledger prescribed form Related to the accounting salary and salary deductions have on the accounting ledger Acc 334 After finishing up recording vouchers, Accountant continues record in general ledger acc 334 HOABINH INVESTMENT AND GENERAL LEDGER ACC 334 January 31st 2015 DEVELOPMENT CORPORATION January 31st 2015 Chief Accountant (signed) Student: Ta Yen Trang Cashier (signed) President (signed) Instructor: Assoc Prof Dr Pham Thi Bich Chi 72 CHAPTER DISCUSSION AND SOLUTION TO IMPROVE PAYROLL ACCOUNTING AT HBI COMPANY In accounting, mostly accounting for salaries and salary deductions It is not only salary, bonuses, the allowances but also is a workers' rights, the conditions for them to work So I would like to have some comments and suggestions to further improve the work of the company.terms of economic develop and increasing like nowadays, follow by the development of 4.1 Assessment of the status of the Payroll Accounting and salary deductions at the HBI Company General comments on the accounting work at the Company: In the course of practice at HBI company, by combining my knowledge with practical work, i have to find for myself a lot of lessons and rewarding experience on how to managing and accounting Basically I think that the organization of production and business management are suitabe withtheir capabilities Production and business processes are developed, the total capital of business, revenue, profits increas too Accounting is one of the management tools sharp indispensable in the economic system of financial management in the unit as well as across the entire national economy Like other enterprises, from its inception, HBI has always focused on the accounting work Accounting staff of the company with a high sense of responsibility, they always put their assigned tasks above all to meet the information needs quickly and accurately - The accounting of HBI quite compact, suit the scale of production and business of the company The accounting staff are arranged logically consistent with the ability level of each person Each of the accounting are assigned specific tasks the Split work into small parts help enables accounting to be fully and accurately the economic operations in the period The company is always interested in training, improve the accounting department staff, so today's accounting team is relatively strong, with expertise and experience in the work - The company is using the accounting form book vouchers This is a form consistent with the scale and nature of production and business of the Company, facilitate the accounting division of labor, avoid duplicate records, create unity between general accounting and each item of expenditure accounting records be conducted regularly and continuously Accounting vouchers fully updated timely, Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 73 organized voucher rotation system through the science department and reasonably convenient for checking and comparing the books With this method the preparation of these financial statements is done quickly and accurately Besides, the company has used its accounting software support for recording, calculating and storing the appropriate accounting documents and more accurate Along with the establishment and development of the company, the management of the business as well as general accounting work of the company in particular has constantly strengthened and perfected, really has become an effective tool in the management and business accounting in the company As we all know, salary occupies a very important position on the lives of employees by the majority of their income is dependent on salary On the other hand salary is economic leverage to encourage the spirit of labor enthusiasm, stimulate and create concerns of employees to their work results Therefore, the accounting salary and salary deductions played a very important role in the course of business of the Company, is a factor that helped the company complete the plan in place Over a period of research and find out the actual situation on the work of Payroll Accounting and salary deductions at HBI company, based on the basic theories and knowledge i have learned, i would like to raise comments on the accounting salary and salary deductions of the company as follows: 4.1.1 Advantages - During payroll process, always ensure accuracy and consistency of accounting salary in the months between every months of the year Payroll method simple, easy to understand, easy to The recorded data from original documents in the accounting records to ensure accuracy, reasonable and appropriate  The Company applies two forms of pay are in line with specific business lines of the Company Pay over time apply to the office block to facilitate the tracking of time and work efficiency The daily pay for workers in the construction teams to encourage employees to work responsibly and accelerate the progress of work - The accounting of salaries and salary deductions are made in accordance with the regulations of the State The company uses a system of books, accounting vouchers also suite with accounting regulations Some models have adjustable as required to work but still conform to the regulations of the State and with high uniformity - Working of HR closely, with reference to the attendance of labor to ensure fairness for workers With employees want take social insurance, they will be observed, must have all needed documents, have the signature of the relevant Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 74 departments to receive payment, careful consideration in each case to consider rate of social insurance to paid - The voucher is presented exactly as prescribed, with all signatures, ensuring accurate, not erased, the collection and processing of vouchers very careful, scientific, rational process convenient for calculation as well as check payment if necessary - The payment of the accounts payable, receivable is clear, in accordance with the prescribed regime The payment of salaries to employees in cash, paid on time specified The company paid to employees time in months, with such salary advance will create conditions for laborers in spending, personal activities as needed without having to wait until the end of the month Thus was created the trust, stimulating psychological comfort enhancing worker responsibility, engrossed in work devoted to the unit  - Expenses for salaries, social insurance, unemployment insurance, labor union fee is calculated correctly and fully in accordance with the ratio prescribed by the State, is allocated properly for each object in the cost of production and business, and submitted to the administration in accordance with the specified time - The method of accounting of salary, social insurance, health insurance, labor union fee, unemploymenr insurance, always suit with principle of Socialist Republic of Vietnam , wage regime as well as allowances for workers However for the short-term contract workers that work from one year, company and the employees should buy voluntary health insurance and accident insurance for the employee works at construction - The company has a accounting apparatus by experienced and professionals experienced accountant in charge Form of recording vouchers are also consistent with the accounting work of the Company The organization of the accounting system in accordance with the regulations of the State - Accountants have full use of the provisions on forms issued by the Ministry of Finance and the company's own regulations, implement the provisions of accounting regulations issued by Decision No 48/2006 / QD-BTC of September 14, 2006 by the Minister of finance - Hoa Binh Investment and Development Corporation is a commercial business has just built with a lot of professional accountants The company has equipped with computers, printers, copiers for all departments within the company Computer systems were connected to the Internet and LAN, facilitate smooth communication and quick Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 75 - The company uses capital efficiently, no outstanding indebtedness state too much, the misappropriation of funds by workers wages directly Eg:No Salary owed workers ,like still not paid to worker after work 2-3 months or when project complete Company strict implementation of payable tax, sales tax, income tax , full and timely payment , followed the prescribed issued by State 4.1.2 Disadvantages - Accountant based on timesheets which the departments within the company sent to accounting department to determine the actual working days of each staff in the months since then as the basis for calculating the salary payable to the employee However the timesheet only shows the number of days employees work and number of days off, without express if worker come early or late, and not evaluate the quality of each employees Part of salary that workers recieved not get attached to the results of the labor,should not actively encourage employees to work, easy to make ideological deal makes full workday without attention to quality and labor productivity - Currently, the company paid to employees in cash With such a large amount of money very easily cause confusion, mistake and lost in the process to pay for employees The payment of wages would take a lot of time, not science, can not meet the needs of staff - For the calculation of personal income tax, accountant not caculate tax for employees in each month, they just caculate income tax payable of employees in the following fiscal year The work of account personal income tax of employees in all year is complicated but only counted once, so the calculation likely to cause errors, confusion and costs are relatively high personal income tax - Business Accounting salaries and salary deductions in the construction teams are also many drawbacks Only accounting teams up timesheets and payroll work tables for construction workers involved in the allocation table without setting salaries and social insurance Costs of direct labor is only expressed in the report costs of completed projects without a specific track on the sub ledger accounting makes the company very difficult to test, assess 4.2 SOME SOLUTION TO IMPROVE PAYROLL ACCOUNTING AT HBI COMPANY 4.2.1 The neccesary to improve the accounting salary and salary deductions In the economy market that the labor is regarded as goods, the determination of its true value is of great importance not only to the workers, the employers, but also for society For the continuous production, workers need to reproduce their labor power Salaries paid by enterprises for employees used to compensate their labor Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 76 power On the other hand,salary will stimulate workers, when replace ensure work efficiency, high productivity, the salary will rise and vice versa Each business enterprises are keen to acquire the information necessary for the operation of their business production If enterprises have been fully grasp the necessary information is also likely to create opportunities to promote the initiative in business production and high efficiency To survive and grow, businesses need to create good products, reasonable price, the new created their competitive advantage To this, businesses no choice but to minimize the production costs and thereby increase profits for businesses Accounting is one of the important tools of economic management system, is motivation for growing enterprises business effectively So complete accounting work is the top target and necessary for enterprises In the information provided accounting, information on salry and salary deductions have a critical position in the economic and financial system because it is an integral part to the cost of production and business Also accounting of salaries and salary deductions also help to improve the organization of production, labor organizations improve employee productivity Therefore the calculation of the allocation of salaries and salary deductions to be done right the adequacy of mode of payment of salary and timely Every business has a different form, concept, way of calculation of payment but they always want to have a way of accounting of salaries and salary deductions in line with production characteristics of their business enterprises Therefore, due to the economic changes, due to peculiarities of production and business, salary and salary deductions are also exists that the management has been and will try to fix the desired effort those that exist to complete the accounting of salaries and salary deductions for their business Accounting salaries and salary deductions properly makes business accounting business in discipline, reduce unnecessary costs It also gives businesses properly determine the cost of production and business costs Thereby determining the correctness of business income, in addition to help enterprises balance between costs and results generated for economic efficiency is increased to help businesses fully comply with the State's obligations, with relevant departments For ensure full payment of wages, increases accuracy income for workers and for businesses HBI is one of the many innovations company now in the process of production and business in many areas especially in the field of portable calendar With the innovation of the market economy, the company has reorganized management Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 77 apparatus, improved business and production processes and simultaneously reorganized apparatus of corporate accounting 4.2.2 Some solution in order to improve the accounting salaries and salary deductions * Solution 1: Rebuilding unit salary and salary systems to further improve labor efficiency as well as encouraging was Laborer part to increase labor productivity Companies should combine paid work time and salary payments by product Because business areas of the Company's business tourism sector should be finding many tourists is very encouraging So if there are more forms of wage payment under the product will make employees more active in finding clients and bring in revenue for the company * Solution 2: To the management of the fund more effective tight, the accounting of revenues and expenditures to be more accurate and timely assessment of the costs for each target employers in the company, accounting costs should classify and organize specific allocation more reasonable salaries * Solution 3: Accounting should complete unity and compact bookkeeping while ensuring sufficient information needed to comply with regulations and accounting principles, avoiding to repeat increasing workload without appliance * Solution 4: Remuneration for employees: Constantly researching the policies of the Party and the State on the work of wage and salary deductions to apply to your company scientifically and logically consistent with the situation of production and business operation of companies also must always improve in order to improve the management of salaries and salary deductions Regularly inspect and look to draw the forms and methods of scientific salaries, fair to employees, level * Solution 5: Controlling the quality of time and labor Considering the limitations of the company mentioned above regarding timekeeping was found workdays are the basis for calculating the basic salary paid to employees In addition to reflecting the actual number of working days in the month it also expresses the sense of responsibility of the employee Therefore, accurate timekeeping is essential to ensure fairness to the employee strength spent, as well as Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 78 the basis for the management companies to assess the attitude of every staff working in the unit for In companies, accountants responsible wage set timesheets and calculate the number of days of actual work of employees for payroll The Departments of the Company is responsible for each specific timekeeping employees of his department and accountants are not directly monitor the attendance of this On the time sheet does not reflect the workers have enough time to it or not So to remedy this situation, Payroll Accounting should regularly monitor and track to the more accurate timekeeping Besides managing the situation to go home early and late hours of actual work of each company employees should use more "attendance card" to evaluate the workday is more comprehensive and more accurate For information on the card is accurate timekeeping absolutely Company should install the press card system is a lot of enterprises to adopt effective today Based on the attendance card management policy should include timely reward for employees to work enough hours or work overtime and take measures to redress the staff not have enough time * Solution 6: Raise income for employees During this period, the salaries of employees in the company are not high So companies need to conduct wage increase for the workers to ensure the reproduction of labor whether in a corporate environment business more or less interest rate The determination of the company's profits are always made after the determination of funds to pay for staff salaries To achieve this the company needs to take measures to increase the wage fund growing companies raise wages ie, increase the income of workers as follows: - Expanding the scale of production, increase the number of products in the industry works completed in the near future - Improved product structure, companies need to carefully study the complete works they provide to meet the needs of the growing market - Improving the quality of each work product, reduce wastage, identify reasonable price This is a vital task for the prestige and quality of the company has been increasingly enhanced - Exploit all available potential of the company, promote the advantages of business characteristics, the machinery and equipment, organization and management capacity, develop manufacturing expertise combined with integrated business to increase revenues for the company Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 79  - Applying the scientific and technical achievements to reduce labor new life, implementing joint ventures to maximize leverage of science and technology for the production of advanced business partners to expand the scope of the market - Improving the living standards of workers, effective use of leverage wages, salary fund distribution within the guarantee has stimulated production development and ensure equity in the company * Solution 7: Develop a reasonable bonus mode Bonuses mean huge material incentives for officials and employees, it is the direct motivation to help workers increase productivity, save materials, material and technical improvements invented, where streamline production helps accelerate the progress of work and bring high economic efficiency In addition to regular bonuses research company should also reward frequent form of encouraging employees to be more active Companies should apply the following common form of bonuses for regular reward system: - Enjoy complete bonus plans and cost savings: the extra cash bonus to employees when completed construction plans ahead of schedule or on schedule assigned assigned to the right projects to company standards implementation compliance with the contract business, which brings prestige and brand for the company - Bonus material savings: on the basis of material consumption, for each enterprise, companies need to have the department responsible for calculation of regular savings in time for each building to as a basis determined in accordance with the company's bonus - Regular technical innovations streamline production This mode has provisions for all employees individual, collective initiatives, improved manufacturing techniques appropriate to the technical innovations improve the production capacity of the company business This mode should clearly stipulate the award, based on the actual amount of benefit * Solution 8: Strengthening the training of managers and workers Improving labor efficiency are issues that should be of primary concern of every enterprise As a construction company requires a labor force skilled to better serve the needs of production and business Although the company has made great development in business and production, but the next year with the opening mechanism under heavy pressure from domestic and foreign competitors with increasingly demanding needs of customers have placed the high demand for the company is to have the high-quality work, reasonable prices Therefore to improve skills training for employees is very important Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 80 To that, the key is to require businesses need labor organization in a scientific way, the process of adjustment of human activity and the elements of the production process to bring productivity higher labor, efficiency to optimal levels Therefore, the business end of the period the company must analyze the labor situation, to evaluate and examine the variation in the use, labor time, the expertise, skill then find out management measures and employers increasingly effective - Improving qualifications for skilled workers, but must first labor classification based on job requirements, production-oriented training plan that would raise the level of professional skills for the employees of the company - How well the special recruitment is the recruitment of managerial staff with professional qualifications rejuvenate leadership team, selected by the managers have the capacity to match the economy market - With low skill levels employees, companies should train employees by sending additional study, investment funds company administrative measures so that employees consciously abide by the rules - Building control systems and quality of tight labor to take the right decisions for the employees working under short-term contracts, to ensure market advantage of abundant labor in our country Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 81 CHAPTER 5: CONCLUSION Thus, further improvement of accountant’s salaries and salary deductions are one of the essential requirements in the context of the current market economy But the application of creative accounting document that suit the actual conditions the company, not exceed the permissible limits of the current accounting system, has created favorable conditions for the company, but still can meet the necessary demandwhen have inspections of the competent authorities During intern time at HoaBinh Investment and Development Corporation, I have the help of Assoc Prof Dr Pham Thi Bich Chi, together with the Accounting Department of the Company I have tried to find out the actual situation of the Company, facilitate consolidation of knowledge, professional qualifications of myself Also performed on "Accounting salary and salary deductions at Hoa Binh Investment and Development Corporation" I try my best to perform the practical situation in accounting system of HBI Company but due to awareness level is limited, I’m sure there are many errors in my thesis I look forward to the contribution of the Finance and Accounting Department of HBI Company and Assoc Prof Dr Pham Thi Bich Chi so I can further improve this paper Again, I sincerely thank the staff of Accounting Department of HBI company and Assoc.Prof Dr Pham Thi Bich Chi who enthusiastic to help me complete this Thank you sincerely! Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 82 REFERENCE VIETNAMESE Vietnamese accounting standard Ministry of finance, Circular No 200/2014 / TT-BTC dated 22/12/2014 by the Ministry of Finance Kurt Pany (Fifth edition), HBI company (2012), “ Financial Statement 2012 HBI company (2013), “ Financial Statement 2013 HBI company (2014), “ Financial Statement 2014 HBI company (2014), “ Balance sheet 2012 HBI company (2014), “Balance sheet 2013 HBI company (2014), “Balance sheet 2014 Enterprise accounting system for accounting regime - Financial Publishing House 1995 10 Business Accounting - Financial Institute 11 Ph.D Dang Thi Loan - Accounting Curriculum - University of National Economy 12 The new salary system in Vietnam - Ministry of Finance Publisher 13 The thematic graduation thesis 14 The curriculum analysis of economic activity - 2001 Statistical Publishing House ENGLISH 15 “Intermediate Accounting”, McGraw-Hill Irwin WEBSITE http://tintucketoan.com/ http://luanvan.net/ http://tailieu.vn/ http://imperiagarden.vn Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 83 APPENDIX Diagram : Accounting cycle in HBI Company Diagram Recording process in accounting software: Explication: : Daily recording : Periodically recording : Reconciliation information Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 84 LABOR CONTRACTS (Issued attcached with Circular No 47/2015 / TT-BLDTBXH) We, One party : Mr Vu Van Do Nationality: Vietnam Position: Director Representing: Hoa Binh Investment and Development Corporation Address:203 Nguyễn Huy Tưởng District, Thanh Xuân, Ha Noi Other party: Dinh Thanh Dat Born August 8, 1978, at Kim Son - Ninh Binh Occupation: Self-employed workers Permanent address:Thanh Xuan, Ha Noi ID card number: 121489963 issued on 06/7/1996 at the Police Ninh Binh Agreement signed and committed the following terms: Article 1: Term and contract work Type of labor contract: short-term, seasonal - From 01/01/2015 to 31/12/2015 - Place of work: Works Construction - Job description: Construction workers work for the Hoa Binh Investment and Development Corporation in the province of Ha Noi and other project ( if any) Article 2: Working regime - Working hours: According to the arrangement of the work assignment - To be equipped with working tools: Clothing and caps Workwear Article 3: Obligations and rights of workers Benefits - Vehicles work: Self-sufficiency - Salary or wages: Under the provisions of the Company - Earnings: The Company's mode - To be paid on June monthly - Bonus: no - Pay rise: no - Rest: According to the arrangement of the work assignment - SI and HI: Under the provisions of State - Training Mode: No - Other agreements: After the end of the contract the two sides will jointly agreed to continue signing, extension or termination of the contract Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi 85 Obligations - Complete work commitments - Executive producer order business operating under labor safety rules - Compensation for material breach (if violated) Article 4: Obligations and rights of employers Obligations - Ensuring employment and full implementation of the work already undertaken in the labor contract - Full payment due date mode and benefits for employees under labor contracts Powers - Executive employees complete the work under the contract - Postponing the termination of labor contracts, workers disciplined in accordance with the law, collective labor agreements (if any) and the labor regulations of the enterprise Article 5: Implementing provisions: - The labor issues are not recorded in this agreement shall apply the provisions of the collective agreement - This contract is made in 02 copies with equal validity, each party keeps 01 copies and became effective as of January 1st, 2015 - This contract is made at Hoa Binh Investment and Development Corporation, in January 1st, 2015 Employee Employer (Sign) (Sign) Student: Ta Yen Trang Instructor: Assoc Prof Dr Pham Thi Bich Chi ... the theme: "Accounting of salary and salary deductions at Hoa Binh Investment and Development Corporation" However, due to a limited time, I just focused on the salary and salary deductions in... of salary and salary deductions at Hoa Binh Investment and Development Corporation" 1.2 RESEARCH OBJECTIVES 1.2.1 General objectives Research the accounting situation of salaries and salary deductions... 2014 and 2015 topoint out matters that are most common regarding the accounting of salary and propose solutions to resolve outstanding issues on salary at Hoa Binh Investment and Development Corporation