[Luận văn bằng tiếng anh - GRADUATION THESIS] ACCOUNTING FOR SALES AND BUSINESS RESULTS IN VIET DUNG YEN MY LIMITED COMPANY

GRADUATION THESIS ACCOUNTING FOR SALES AND BUSINESS RESULTS IN VIET DUNG YEN MY LIMITED COMPANYIn commercial business activities, selling is the basic profession, which plays an important role in other operations, business activities can only run smoothly w hen the sales are efficiently organized.Currently, the sale of goods and services by entities has faced a range of difficulties and challenges. First, the competition between domestic and foreign commercial enterprises is increasingly fierce. Second, the economic management mechanism still has many shortcomings, causing many difficulties and obstacles for businesses. Therefore, to be able to stand firmly in the marketplace, enterprises must organize well the sales process, have a suitable sales strategy so that they can actively adapt to the environment, seize opportunities, and effectively mobilize existing resources to improve business efficiency. Sales and business result determination play a very important role because it provides managers with information about the performance and business situation of each commodity to make accurate, timely and effective business decisions.On the basis of applying the theory of sales accounting and determining business results learned at school and based on the actual situation of the company, along with the enthusiastic help of Teacher, PhD. Thai Ba Cong and MSc. Nguyen Ba Linh and other members of the Accounting Department of the company, I have a certain understanding of the company and accounting work at the company. Being aware of the importance of managing sales accounting and determining business results at the company, after the internship at the company, I decided to choose the research topic to write my final thesis “Accounting for sales and business results at Viet Dung Yen My Limited Company”.

MINISTRY OF FINANCE ACADEMY OF FINANCE - - GRADUATION THESIS ACCOUNTING FOR SALES AND BUSINESS RESULTS IN VIET DUNG YEN MY LIMITED COMPANY Major Mentor : Corporate Accounting : PhD Thai Ba Cong MSc Nguyen Ba Linh HA NOI - 2022 Academy of Finance Graduation Thesis DECLARATION I hereby declare this is my own research Data, results stated in the graduation thesis are honestly come from the actual condition of company Ha Noi, January 20th, 2022 Student i Academy of Finance Graduation Thesis TABLE OF CONTENTS DECLARATION .i TABLE OF CONTENTS ii LIST OF ABBREVIATIONS v LIST OF TABLES vi LIST OF SCREENS vii LIST OF DIAGRAMS vii INTRODUCTION CHAPTER 1: GENERAL THEORY ON ACCOUNTING FOR SALES AND DETERMINATION OF BUSINESS RESULT IN COMMERCIAL ENTERPRISES .4 1.1 Importance of accounting for sales and business results in commercial enterprises 1.1.1 Overview of sales and business results 1.1.2 The role of sales and determining business results .6 1.1.3 Task of accounting for sales and business results 1.2 Accounting for sales and determination of business results 1.2.1 Methods of sales and payment 1.2.2 Accounting for revenue 1.2.3 Accounting for revenue deduction 13 1.2.4 Accounting for cost of goods sold 14 1.2.5 Accounting for selling expenses and administration expenses 18 1.2.6 Accounting for financial income and financial expenses 21 1.2.7 Accounting for other income and other expenses .23 1.2.8 Accounting for current Corporate Income Tax 26 1.2.9 Accounting for determination of business results .27 Academy of Finance 1.3 Graduation Thesis Accounting for sales and business results in application with accounting software 29 1.3.1 Principles and requirements for the organization of machine accounting 1.3.2 29 Tasks of accounting for sales and business results in machine accounting terms 30 1.3.3 Accounting for sales and business results in machine accounting terms 30 1.4 Presentation on financial statement 32 CONCLUSION OF CHAPTER 35 CHAPTER 2: THE ACTUAL SITUATION OF ACCOUNTING FOR SALES AND DETERMATION OF BUSINESS RESULTS AT VIET DUNG YEN MY LIMITED COMPANY 36 2.1 Overview about Viet Dung Yen My Limited Company 36 2.1.1 Establishment and development of the VIET DUNG YEN MY company 36 2.1.2 Business organizational characteristics of the company 39 2.1.3 Management organizational characteristics of the company 39 2.1.4 The organization of accounting works in the company 41 2.2 A ccounting for sales and determination of business results in Viet Dung Yen My company 48 2.2.1 Accounting for sale revenue and revenue deductions .48 2.2.2 Accounting for cost of goods sold 57 2.2.3 Accounting for selling expenses .60 2.2.4 Accounting for administration expenses 65 2.2.5 Accounting for financial income and financial expenses .67 2.2.6 Accounting for other income and other expenses 71 Academy of Finance Graduation Thesis 2.2.7 Accounting for corporate income tax expense 72 2.2.8 Accounting for business results 73 2.3 Some comments on accounting activities in Viet Dung Yen My Limited Company 76 2.3.1 Advantages: .77 2.3.2 Some limitation .79 CONCLUSION OF CHAPTER 81 CHAPTER 3: SOME SOLUTIONS TO IMPROVE ACCOUNTING AND DETERMINATION OF ACCOUNTING FOR SALES AND BUSINESS RESULTS IN VIET DUNG YEN MY LIMITED COMPANY 83 3.1 Development orientation of the company .83 3.2 Requirements and principles of improving accounting for sales and determining business results at Viet Dung Yen My Limited Company .84 3.2.1 Improvement requirements: 84 3.2.2 Some suggestions for improvement of accounting for sales and business results 86 3.2.3 The content of improved suggestions about accounting for sales and business results 87 CONCLUSION FOR CHAPTER 97 CONCLUSION .98 REFERENCE 100 Academy of Finance Graduation Thesis LIST OF ABBREVIATIONS Abbreviation Full phrase Acc Account CIT Corporate income tax COGS Cost of goods sold Co., Ltd Limited Company FE Foreign exchange FIFO First-in, first out GDNs Goods despatch note GRNs Goods receipt note LIFO Last-in, first-out No Number VAT Value added tax VND Vietnam Dong Academy of Finance Graduation Thesis LIST OF TABLES TABLE 2.1: EXTRACT LEDGER OF ACCOUNT 511 FOR CASH SALE .52 TABLE 2.2 EXTRACT OF ACCOUNT 511 FOR CREDIT SALE 54 TABLE 2.3 EXTRACT OF LEDGER ACCOUNT 632 .59 TABLE 2.4 EXTRACT OF LEDGER ACCOUNT 641 .62 TABLE 2.5 EXTRACT OF LEDGER ACCOUNT 642 .66 TABLE 2.6 EXTRACT OF LEDGER ACCOUNT 515 .68 TABLE 2.7 EXTRACT OF LEDGER ACCOUNT 635 70 TABLE 2.8 EXTRACT OF LEDGER ACCOUNT 911 .74 Academy of Finance Graduation Thesis LIST OF SCREENS SCREEN 2.1 WORKING SCREEN OF ACCOUNTING SOFTWARE 44 SCREEN 2.2 ACCOUNT SYSTEM SCREEN .44 SCREEN 2.3 CUSTOMER LIST SCREEN 45 SCREEN 2.4 THE INTERFACE OF ENTERING SALES DOCUMENT 51 SCREEN 2.5 THE INTERFACE OF ENTERING CREDIT SALES DOCUMENT 55 SCREEN 2.6 THE INTERFACE OF ENTERING SELLING EXPENSE 65 SCREEN 2.7 THE INTERFACE OF ENTERING ADMINISTRATION EXPENSE 67 SCREEN 2.8 THE INTERFACE OF ENTERING FINANCIAL INCOME 69 SCREEN 2.9 THE INTERFACE OF ENTERING FINANCIAL EXPENSES .71 SCREEN 2.10 THE INTERFACE OF CARRYING FORWARD PROFIT OR LOSS 75 LIST OF DIAGRAMS DIAGRAM 2.1: COMPANY MANAGEMENT APPARATUS STRUCTURE 40 DIAGRAM 2.2 STRUCTURE OF THE COMPANY'S ACCOUNTING 41 Academy of Finance Graduation Thesis INTRODUCTION The urgency of the research topic In commercial business activities, selling is the basic profession, which plays an important role in other operations, business activities can only run smoothly w hen the sales are efficiently organized Currently, the sale of goods and services by entities has faced a range of difficulties and challenges First, the competition between domestic and foreign commercial enterprises is increasingly fierce Second, the economic management mechanism still has many shortcomings, causing many difficulties and obstacles for businesses Therefore, to be able to stand firmly in the marketplace, enterprises must organize well the sales process, have a suitable sales strategy so that they can actively adapt to the environment, seize opportunities, and effectively mobilize existing resources to improve business efficiency Sales and business result determination play a very important role because it provides managers with information about the performance and business situation of each commodity to make accurate, timely and effective business decisions On the basis of applying the theory of sales accounting and determining business results learned at school and based on the actual situation of the company, along with the enthusiastic help of Teacher, PhD Thai Ba Cong and MSc Nguyen Ba Linh and other members of the Accounting Department of the company, I have a certain understanding of the company and accounting work at the company Being aware of the importance of managing sales accounting and determining business results at the company, after the internship at Academy of Finance Graduation Thesis the company, I decided to choose the research topic to write my final thesis “Accounting for sales and business results at Viet Dung Yen My Limited Company” Purposes of the dissertation Research purposes: To deeply understand the sales accounting organization and determine the business results, to give an overview of the achievements and shortcomings in sales accounting and business results determination, from which giving suggestions to improve accounting for sales and business results at Viet Dung Yen My Limited Company Research object and scope of the dissertation Research object: Accounting for sales and determination of business results at Viet Dung Yen My Limited Company Scope: Accounting for sales and determination of business results at Viet Dung Yen My Limited Company in December 2020 Research methodology Research is based on the methodology of dialectical materialistic and historical materialism, combined with the methods of analysis, statistics, synthesis, comparison between theoretical basis and reality at Viet Dung Yen My Co., Ltd from there, propose solutions to improve accounting for sales and business results at the company The structure of the dissertation Recognizing the importance of organizing goods consumption, I chose the topic: "Accounting for sales and business results at Viet Dung Yen My Limited Company" In addition to the introduction and conclusion, the dissertation consists of chapters: