ACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTI

ACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTIACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTIACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTIACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTIACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTIACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTIACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPTI

MINISTRY OF FINANCE ACADEMY OF FINANCE - - GRADUATION THESIS TOPIC: ACCOUNTING FOR SERVICE PROVISION AND BUSINESS RESULTS AT VNPT-I STUDENT : KHUẤT KHANG CLASS : CQ54/21CL.01 FACULTY : BUSINESS ACCOUNTING MENTOR : PHD TRAN THI NGOC HAN Hà Nội - 2020 Mentor: PhD Tran Thi Ngoc Han DECLARATION I hereby declare that this thesis is my own work and effort The numbers stated in the thesis have been acknowledged and come from the actual situation of VNPT-I   Graduation thesis author   Nguyen Huu Hoang Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han TABLE OF TABLE 1.1: Spreadsheets of finished goods costing by common methods 27 Year quarter 27 TABLE 2.1 EXTRACT THE ACCOUNT LIST .42 Table 2.2 Extracting details of account 627 (on software) 56 Table 3.1 TABLE OF PROJECT COST PRICE 545 72 Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han TABLE OF Appendix 1.1 81 Appendix 1.2 82 Appendix 1.3 83 Appendix 1.4 84 Appendix 1.5 85 Appendix 2.1 86 Appendix 2.2 87 Appendix 2.3 89 Appendix 2.4 105 Appendix 2.5 114 Appendix 2.6 115 Appendix 2.7 116 Appendix 2.10 .122 Appendix 2.11 .126 Appendix 2.11 .130 Appendix 2.17 .130 Appendix 2.16 .132 Appendix 3.1 133 Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han TABLE OF Figure 2.1: Accounting software interface at ADCOM Consultants 40 Figure 2.2 The interface of financial statements declaration at ADCOM Consultants 45 Figure 2.3 Sample invoice used at ADCOM Consultants .50 Figure 2.4 Forms of payment vouchers at the entity 52 Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han TABLE OF CONTENT DECLARATION i TABLE OF CONTENT .iv PREFACE CHAPTER I: THEORETICAL FRAMEWORK OF PRODUCTION COST ACCOUNITNG AND PRODUCTION COSTING .4 1.1Basic theory about manufacturing cost and finished goods costing in enterprises 1.1.1Characteristics of construction consultancy activities affect cost accounting and finished goods costing 1.1.1.1Nature of manufacturing cost 1.1.2 Cost of finished goods 1.The content for accounting for manufacturing cost 10 1.2.1Objectives and Method .10 1.2.2 Accounting for manufacturing costs 11 1.3Method for work in progress valuation .18 1.3.1 Evaluate work in progress according to direct material cost 18 1.3.2 Evaluate work in progress according to volume of completed products 18 1.3.3 Evaluate work in progress according to norms 18 1.4 Objects and methods of finished goods costing 19 1.4.1 Objects 19 1.4.2 Method 19 CONCLUSION .21 CHAPTER II:CURRENT ACCOUNTING AND SITUATION PRODUCTION OF PRODUCTION COSTING AT COST ADCOM CONSTRUCTION CONSULTING.JSC 22 Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han 2.1 OVERVIEW OF ADCOM CIVIL ENGINEERING CONSULTANCY AND INVESTMENT JOINT STOCK COMPANY 22 2.1.1 History of the establishment and development of the company 22 2.1.2 Characteristics of organization and operation management of the company 23 2.1.3 Organize the management apparatus of the company 23 2.1.4 Organizing the accounting system and the situation of applying the Company's accounting regime 26 2.1.5 Forms, books and vouchers used and book entry order 28 2.2 Actual situation of organizing cost accounting of production costs and installation of construction products at ADCOM Consultants 29 2.2.1 Organize the system of vouchers and initial records related to production costs 31 2.2.2 Organization of accounting accounts used in cost accounting and product costing (Appendix 2.3) .32 2.2.3 Organize accounting book system that reflects costs and product costs (Appendix 2.4.) 35 2.3 Content of accounting of production costs and cost of construction products of ADCOM Consultants Company 35 2.3.1 Objects to collect production costs and to calculate costs .36 2.3.2 Method of gathering production costs .36 2.3.3 The content of the accounting input process collects production costs and calculates the cost of investment consulting products at the Company .37 2.4 General accounting of production costs and calculation of product costs .48 2.4.1 General accounting of production costs 48 2.4.2 Assessing work in progress at the end of the period .49 2.4.3 Finished goods costing at the entity .49 Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han 2.5 ASSESSMENT OF THE SITUATION OF ACCOUNTING PRODUCTION COST AND PRODUCT PRICE AT ADCOM INVESTMENT AND CONSTRUCTION CONSULTANCY JOINT STOCK COMPANY 50 2.5.1 Advantages 50 2.5.2 Limitations 51 CONCLUSION .54 CHAPTER III: SUGGESTIONS TO IMPROVE MANUFACTURING COSTS AND FINISHED GOODS COSTING ACCOUNTING ATT ADCOM CONSULTANTS.JSC 55 3.1 The need for improving accounting system in ADCOM CONSULTANTS JSC 55 3.1.1 The necessity of improving an accounting organization that collects production costs and calculates product costs at ADCOM Consultants 55 3.1.2 Requests to complete the organization of cost accounting of production and product cost calculation at ADCOM Consultants .56 3.2 Solutions to perfect the work of accounting department in gathering production costs and finished goods costing at ADCOM Consultants JSC 56 3.2.1 Perfecting the organization of rotation of accounting vouchers: .57 3.2.2 Improve the accounting in organization 58 3.2.3 Complete the method of accounting for production costs and costs 58 3.2.4 Completing the application of computer accounting software 63 CONCLUSION .65 GENERAL CONCLUSIONS .66 Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han LIST OF REFERENCES 66 PREFACE Rationale of the study Capital construction is a manufacturing industry, tasked with reproducing and creating fixed assets, creating technical material and infrastructure for the national economy, using the accumulated capital of society, contributing to GDP growth It acts as a condition to attract foreign investment capital in the process of industrialization - modernization of the country, construction consultancy services are a part of capital construction In a market economy, competition is an indispensable trend and become a driving force for production to develop All Business entities want to survive and stand firmly, provide high quality products and services to the market, need to regularly monitor information about market prices and costs to provide for the market with products and services with reasonable production costs and still achieve maximum profits The action of classifying the production costs, calculating it precisely in businesses is very significant because products in the construction industry often have selling prices in advance so production cost is so important to determine profit or loss of a work or service On the other hand, through the figures provided by the accounting department, the Managers know the costs of each project in each stage from which to compare and compare with the construction norms and previous amount used in labor, materials, cost estimates to find the cause in time to make the right decisions Being aware of its importance, during my internship time at ADCOM CIVIL ENGINEERING CONSULTANCY AND INVESTMENT JOINT STOCK COMPANY, I deep-dived and completed my research topic: “Accounting for manufacturing cost and production costing in ADCOM CONSULTANT.JSC” I owe PhD Nguyen Thi Hong Van profound thanks for all of her trust and guidance and I am grateful to her as my instructor I would like to thank my family and Student: Nguyen Huu Hoang Class: CQ54/21CL.01 Mentor: PhD Tran Thi Ngoc Han friends for their great support Without them, I would not have had the chance to what I am doing today Last but not least, I would like to spread my gratitude to my brothers and sisters in the finance and accounting department of the company who had helped me in this journey The target of the Thesis The purpose of the thesis is to systematize the theory and apply the theory of accounting for production costs and manufacturing costs based on knowledge gained during my time studying in Academy of Finance and practical research in ADCOM Construction Consulting Joint Stock Company, thereby analyzing existing issues to contribute to perfecting the accounting work at ADCOM Construction Consulting Joint Stock Company The subjects and scope of the Thesis a Subjects: The project focuses on theoretical research on production cost in accounting department and product cost calculation from the perspective of enterprises and the current situation of this issue in ADCOM Construction Consulting JSC b Scope: About space: In theory, the study documents about the organization of cost accounting to calculate the cost of products according to the content of work (not researching the organization’s accounting apparatus) from the Textbooks Accounting Law, Accounting Standards, Accounting System according to Circular 200 and regulations related to the topic In practice, the study is about the organization of cost accounting for cost calculation at ADCOM Construction Consulting JSC according to the content of work performed About time: Research period from 2020 evidence of the research presented in the dissertation selected a contract for implementation in 2019 Student: Nguyen Huu Hoang Class: CQ54/21CL.01