History of the establishment and development of hai haconfectionery joint stock company

CHAPTER OVERVIEW OF COMPANY 1.1 History of the establishment and development of Hai Ha Confectionery Joint-Stock Company Hai Ha Confectionery JSC is one of the top confectionery companies of Vietnam The company was founded in 1960, and is often shortened to HaiHaCo In the beginning, HaiHaCo was a small-sized enterprise with a capacity of 2000 tons per year for many years In 2003, the company decided to go private and it now operates officially under Joint Stock Company according to the Resolution No 191/2003/QĐ-BCN of Ministry of Industry dated 14 November 2003 The company which has been operating in the form of Joint-stock Company on 20 January 2014 according to the certificate of business registration (number 0103003614) issued by the Department of Planning and Investment of Hanoi and changed the fourth on May 2012 At present, it has developed into Hai Ha Confectionery Joint-Stock Company with higher scale up to 20,000 tons per year in production The company's operations are primarily in north Vietnam and the Hanoi area; it also operates branches in Da Nang and Ho Chi Minh City The company is based in Hai Ba Trung, Hanoi and is listed on the Hanoi Securities Trading Center The cities in which the factories are located is Hanoi capital, Viet Tri and Thai Binh A of now in the factories, there are about ten production lines Hai Ha Confectionery currently exports their products to the countries Japan, Taiwan, Russia, the Middle East and Asian countries They are currently trying to expand their exporting into the areas of Asia, Far Eastern countries and European countries In the period after 2000, facing new challenges arising in the process of integration, the Company has actively invested in advanced machinery and equipment to produce products with high nutritional value such as Chew sweets, Sponge cake, Miniwaf sponge cake, Nutrition cake for students under the cooperation program with Gret international organization and Nutrition Institute of Ministry of Health, calcium and vitamin supplement products co-produced with Tenamyd Canada Achievements of the company are recognized: - Third Labor Medals (1960 – 1970) Second Labor Medal (1985) First Labor Medal (1990) Third Independence Medal (1997) Certificate of Merit from the Prime Minister in 2010 Hai Ha Confectionery JSC products were won gold and silver medals at the international exhibition of Vietnam's industrial goods, the national economics exhibition, and the engineering economics show in Vietnam From 1997 to 2013, HAI HA Confectionery JSC products were loved by individuals and has been rewarded as "high quality Vietnamese Goods" Native name: Công ty Cổ phần Bánh kẹo Hải Hà Type: Public Joint-stock Company Traded as: HHC Industry: Founded: 1960 Headquarters: 25 Truong Dinh, Hai Ba Trung Dist., Hanoi, Vietnam Area served: Key people: Bui Thi Thanh Huong Products: Number of employees: Website: haihaco.com.vn 1.2 Features of business operations of Hai Ha Confectionery Joint-Stock Company The business activities include: - Manufacture and trade of confectionery and food processing Export and import of raw materials, machinery and equipment, consumer goods, other commodities This is a preview Do you want full access? 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Log in - Other business sectors not prohibited by the provisions of law 1.3 Organizational structure of Company Structure of management apparatus of Hai Ha Confectionery Joint Stock Company GENERAL MEETING OF SHAREHOLDERS BOARD OF DIRECTORS SUPERVISORY BOARD GENERAL DIRECTOR Deputy General Director of Engineering Danang Branch Develop ment Enginee ring Departm ent Produc t Quality Inspect ion Depart ment Deputy Chief Financial Officer Office Hai Ha I Auxiliary Candy Confectio Factory enterprises nery Factory Notes: Steering Relations: Market Plannin g Depart ment Bakery Factory Supplie s Depart ment Financ e Depart ment Hai Ha II Confectione ry Factory Mutual Relations: Ho Chi Minh Branc h Chew Factory Diagram1.2: Diagram of the management apparatus of Hai Ha Confectionery Joint Stock Company General Meeting of Shareholders: Being the highest authority decides all important issues of the company in accordance with the Enterprise Law and the company's charter The AGM is the body that adopts long-term investment policies in the development of the company, decides to supplement and amend the company's charter, increases or decreases charter capital, approves annual financial statements, decides on annual profit distribution, decides on splitting, consolidation, transformation, dissolution of the company Board of Directors: Be The company's management agency has full authority on behalf of the company to decide all issues related to the purpose and interests of the company, except for matters decided by the AGM Orient existing and developed policies to implement the decisions of the AGM through policy making, issuing action resolutions for the time suitable to the production and business situation of the company Prohibition of control: Due to AGM elect and control all business, governance and administration activities of the company on behalf of shareholders General Manager: Be who runs and directs all production and business activities of the company and is responsible to the Board of Directors Deputy General Director in charge of Engineering: Be who is responsible for monitoring and managing the technical activities of the company and is responsible to the General Director Deputy General Director in charge of finance: Be who directly monitors and manages the financial situation of the company, is responsible to the General Director All Subordinate departments include: -Writing Department: Responsible for solving issues of administrative, procedural, arrangement and arrangement of human resources, - Finance Department: has the task of organizing accounting accounting, analyzing information, providing information for making management decisions and operating production and business - Development Engineering Department: responsible for production engineering, technological processes, calculation of norms, manufacturing new products - Market planning department: has the task of supplying materials, researching the market, planning production, proposing reasonable product consumption measures, ensuring factors for the production and business process - Product Quality Inspection Department (KCS): is responsible for checking the quality of input materials for the production process, the quality of production and the quality of finished products - Materials Department: responsible for purchasing and preserving materials of the company, supplying materials for production CHAPTER CHARACTERISTICS OF ACCOUNTING ORGANISATION AND ACCOUNTING SYSTEM 2.1 Characteristics of accounting organization at Hai Ha Confectionery Joint-stock Company The accounting apparatus at Hai Ha Confectionery Joint Stock Company is organized according to a centralized accounting model, accounting work is carried out in the finance department of the company The method of organizing the accounting apparatus at the company is the online method – consulting, that is, the chief accountant is the head of the accounting apparatus, directly managing the accountants; At the same time between the chief accountant and the accountants there is a mutual consultative relationship This is a preview Do you want full access? 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Log in Chief Accountant Accoun ting for cash, deposit s and advanc es Consu mptio n Accou nting and Busin ess Admi nistrat ion Accou nting for wages and costs Accou nting for fixed assets & constr uction Accou nting for materi als Treas urer Diagram 2.1: Organization chart of accounting apparatus at the company The finance department consists of people, including accountants corresponding to accounting sections, chief accountant and treasurer, specifically as follows:  The school accountant is the person who directs and is in general charge of the activities of the finance department, and at the same time concurrently serves as a general accountant  Deputy Accounting Department in charge of accounting for fixed assets & construction works, monitoring the fluctuation of fixed assets, depreciation calculation, repair status of fixed assets and construction investment works  Cash, deposit and advance accountant is the person responsible for detailed accounting and summarizing the situation of cash receipts, expenditures and inventories; monitor the situation of advance payments, internal and external payments of the company; accounting for operations related to bank deposits  The sales accountant and the KQKD is the person responsible for accounting for the sales process, raising revenue, tracking cost prices, tracking discounts, discounts on goods sold and goods sold that reduce revenue  A wage and cost accountant is a person responsible for gathering and allocating production costs for each type of product, calculating product costs and accounting for wage costs  The material accountant is the person responsible for accounting for operations related to the export and import of materials  The treasurer is the person responsible for managing the import, export and inventory of cash Daily compare the data on the treasury book with the data on the cash accountant's book In addition, at the factories there are also from to accountants, that is, statisticians and storekeepers They are responsible for collecting documents related to economic transactions arising at the enterprise, recording warehouse cards, making detailed inventory reports and then transferring relevant documents to the company's finance department for bookkeeping 2.2 Characteristics of accounting systems at Hai Ha Confectionery Jointstock Company 2.2.1 General accounting policies Currently, the company is applying the accounting regime according to Decision No 15/2006/QD-BTC dated March 20, 2006 of the Minister of Finance The company strictly and fully complies with the current accounting standards system The accounting year at the company begins on January and ends on December 31 according to the calendar year The currency used in accounting is Vietnamese dong (VND) The company uses the actual exchange rate to account for foreign currency The accounting period is quarterly The company calculates value-added tax according to the deduction method Other taxes the company must account for are corporate income tax, import value-added tax, export tax and some other taxes Inventory accounting follows the regular accounting method and detailed inventory accounting according to the parallel card method Inventory is imported at actual price and the discharge price is according to the method of weighted average price by month The method of calculating the depreciation of fixed assets that the company is applying is according to the straight-line method according to Decision No 206/2003/QD-BTC dated December 12, 2003 of the Minister of Finance 2.2.2 Organization of application of accounting voucher system The company uses the system of documents on inventory, sales, currency, fixed assets, salary and calculates costs in accordance with the form specified in Decision 15/2006/QD-BTC of the Minister of Finance In addition, the company also uses documents printed by the company itself, the company prepares and prints documents in accordance with the regulations of the tax authority and is accepted in writing by the tax authority For example, valueadded invoices The company prints itself and is set up in links, link blue for storage, link pink and deliver to customers and link yellow is stored in the accounting office The company keeps books in the form of a Voucher Diary and has the help of accounting software However, the storage of documents is still a book At the end of the month, quarter and year, the company prints the general books and details necessary for storage in the company's finance department 2.2.3 Organization of application of accounting account system - General accounting: 112 Withdrawal of bank deposits to funds 111,112 151,152,154,156 Purchase of supplies and goods 511,512 Collection of sales proceeds 112 Deposit cash in the bank 515 331 Income from financing activities to repay debts or advance money to sellers 711 133 Other collection of VAT payment when purchasing supplies and goods, 131 Services 211,213,241 Customers repay debts or advance purchases of fixed assets or pay expenses 411,441 XDCB Received equity 311,333,334,338,341,343 121,122,221,222,223,228 Repayment of loans, state debts, and other debts Return on financial investment 121,128,221,223,228 Financial investment expenditures 3331 Value-added tax collection for the state 411,441 When selling, provide services for paying capital to the owner Diagram 2.3 General accounting of cash receipts and expenditures and bank deposits This is a preview Do you want full access? 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Log in 111,112 141 151,152,153,211 Use advance money to buy assets Advance payment 133 VAT is Deductions 111 641,642,627 Advances included in expenses 133 Temporary Missing Advance apply VAT is Deductions 111,334,138 Advance excess payment of funds, minus salary or Subtract from the next period Diagram2.4 General accounting of advance payment 2.3.2 Organization of accounting, consumption accounting and determination of business management - Documents used:  Table of payment for agents and consignment goods (form No 01-BH)  Stall card (form No 02-BH)  Ordinary sales invoice (form No 02 GTTT-3LL)  Warehouse slip to the agent (form No 04 HDL-3LL)  Warehouse internal shipping slip (form No 03 PXK-3LL) - User account:  Account 157 "Shipments for sale"  Account 632 "Cost of Goods Sold"  Account 511 "Sales and Service Provision Revenues"  Account 512 "Internal Sales Revenue"  Account 531 "Returned Sales" Account 532 "Sale Discounts" Account 521 "Trade Discount" Account 641 "Cost of Sales" Account 642 "Expenses for managing a business" Account 911 "Determination of business results"  There are also some other related accounts: 154,155,111,112,131, - Detailed accounting The company consumes finished products and goods by many different methods such as: direct consumption, contract delivery, delivery to agents Each method has its own procedures and documents For example, the direct consumption method, responsible for tracking is the storekeeper and payment accountant When the storekeeper receives the order for sale, he shall make a warehouse release slip, make it into links and then export goods and finished products In which, link is kept for bookkeeping, link is sent to the payment accountant for bookkeeping and reconciliation, and the remaining link is assigned to the seller The seller is responsible for making value-added invoices (made in rows) or ordinary sales invoices and of the links sent to the accounting department to record consumption results - General accounting ACCOUNT 154,155 ACCOUNT 632 ACCOUNT 911 Account 511 Account Actual Capital Value ACCOUNT 333 Consumed goods combined with SCT, export tax Revenue Capital of payable value Account 521,532,531 Goods have k/c discounts, sales ACCOUNT Value Consumption of returned goods of capital Transfer Capital of goods sent for sale Net for export Send for sale sold ACCOUNT 33311 Output VAT payable Figure 2.5: General accounting of product consumption 2.3.3 Organization of salary and cost accounting - Proof of use  Timesheet (form No 1a-LOI)  Overtime timesheet (form No 01b-LĐTL)  Salary payment table (form No 02-LĐTL)  Bonus payment table (form No 03- LOI)  Product confirmation slip or completed work (form No 05 – LOI)  Overtime payment table (form No 06 – LOI)  Statement of salary deductions (form No 10 – LOI)  Salary and social insurance allocation table (form No 11 – LOI) - User account sales This is a preview Do you want full access? 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Log in  ACCOUNT 334 'Payable Employees'  ACCOUNT 338 "Payable, Other Payable"  In addition, also use some other accounts such as: 111, 112, 138, - General accounting ACCOUNT 11,112 ACCOUNT ACCOUNT 334 622 Payment of income to TL, bonus payable to LOI FGCL employee must actually ACCOUNT The 335 extract ACCOUNT 138 Payment to LOI Deduction of Other FGD to LOI TL receivables, bonuses payable to ACCOUNT 627 NVPX messages ACCOUNT 141 ACCOUNT 641 Deduction of temporary TL and bonus payable to NVBH payroll ACCOUNT 642 ACCOUNT 338 TL, bonus payable to NVQLDN Collection of other agencies Or keep the employee's bonus from the reward fund must be ACCOUNT 431 Pay to employees ACCOUN Social insurance must be paid to the employee Figure 2.6: General accounting for payments with employees 2.3.4 Accounting organization of fixed assets and construction - Proof of use  Minutes of delivery and receipt of fixed assets (form No 01 – fixed assets)  Minutes of liquidation of fixed assets (form No 02 – fixed assets)  Minutes of handover of completed major repair fixed assets (form No 03 – fixed assets)  Minutes of reassessment of fixed assets (form No 04 – fixed assets)  Minutes of inventory of fixed assets (form No 05 – fixed assets)  Worksheet and depreciation allocation of fixed assets (form No 06 – fixed assets) - User account  ACCOUNT 211 "Tangible Fixed Assets"  ACCOUNT212 "Leased Fixed Assets"  ACCOUNT 213 "Intangible Fixed Assets"  ACCOUNT 214 "Wear and Tear of Fixed Assets"  Some other related accounts are: 111,112,331,341, - General accounting 111,112,331,341 211,212,213 The purchase price and cost of TSC D are not installed VAT Deductible 133 241 152,334,338 construction costs, installation and implementation of fixed assets XD Achievements Installation, deployment 411 The State grants or receives investment capital contributions in fixed assets 711 Receiving gifts, gifts, non-refundable aid by fixed assets 3381 TSC Excess for unknown reasons 221,223,228 Receive back contributed capital by fixed assets 342 Get leased fixed assets finance 138 VAT is in the principal debt Diagram 2.7 Consolidated accounting for increase in fixed assets This is a preview Do you want full access? 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Log in 2.3 Characteristics of some accounting cycles at Hai Ha Confectionery Joint-stock Company CHAPTER ASSESSMENT OF ACCOUNTING ORGANISATION AND ACCOUNTING SYSTEM AT HAI HA CONFECTIONERY JOINT STOCK COMPANY 3.1 Assessment of accounting organization at Hai Ha Confectionery Jointstock Company In the growing market economy, especially in the current trend of international economic integration, an enterprise that wants to survive and develop sustainably needs to know autonomy in all aspects of production and business activities from investment, use of capital, Organize production until the consumption of products, must know how to take advantage of capacity and opportunities To so, the company needs to have all the necessary information for making decisions In the company, the most important information system is the accounting information system Therefore, a company that organizes the accounting apparatus and accounting well, reasonably and scientifically will be an effective tool for company leaders in checking and supervising the production and business activities of the company, management situation, use assets and capital, help leaders have positive guidelines and measures in the management and administration of all production activities Complete the set tasks, goals, plans, constantly increase revenue and income for the company step by step improve the lives of officers and employees, Recognizing the importance of accounting information, leaders constantly invest in accounting departments such as equipping adequate facilities, recruiting good, experienced accountants and also offering reasonable salaries The same goes for Hai Ha Confectionery Joint Stock Company The finance department of the company is equipped with a system of modern facilities, hired This is a preview Do you want full access? 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Log in experts to design its own accounting software, the staff is young, dynamic, reasonably organized to ensure the general principles of the organization 3.1 ORGANIZATIONAL EVALUATION OF THE ACCOUNTING APPARATUS Hai Ha Confectionery Joint Stock Company, although facing many difficulties and obstacles in the process of formation and development, the company has always affirmed its position and its role in the national economy by the achievements over the years that the company has achieved Having these achievements, it must be mentioned that most of the very important contributions of the management apparatus in general and the accounting apparatus in particular The organization of the accounting apparatus in the company is in accordance with the scale and characteristics of the form of production The accounting apparatus is very compact with a specific division of labor, responsibilities and tasks for each accountant The accounting department of the company consists of small rooms In particular, there is a room dedicated to writing invoices, serving the purchase and sale of goods, 1The chief accountant's room, the server is located in this room and connected to all machines of other accountants, convenient for urging, monitoring and synthesizing information and data, to produce general reports room is for accountants, Each accountant is equipped with a computer and assigned to one to two accounting sections, and the principle of non-concurrent duties and the principle of assignment of duties are always respected room for the treasurer, separate from the chief accountant and other accountants The accounting department always provides complete, timely and data to all subjects that need attention, especially the management such as directors, deputy directors, To propose timely directions and measures to create wealth for society and meet the needs of ensuring the living standards of all workers With a centralized accounting model and online organization method, the accounting apparatus of the company is generally reasonable and scientific, This is a preview Do you want full access? 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Log in suitable to the size of the company, with the nature of the business line, meeting the requirements of management and management in general 3.2 EVALUATION OF THE ORGANIZATION OF ACCOUNTING WORK The organization of the company's accounting work is generally reasonable, in accordance with the requirements of management All administrative parts of accounting work are monitored and fully implemented procedures on order, vouchers and books, in accordance with current accounting rules and regimes The company has taken into account the scale and nature of the business line and used the form of accounting for voucher diaries, clearly delineating the way of recording and work of each department In particular, with the use of machine accounting, it not only reduces the workload, but also reduces work pressure for performers, reducing confusion and errors Moreover, the company also hires experts to design its own accounting software, in accordance with the requirements and professional characteristics of the business, with the quality of management, which has created many advantages in accounting on machines as well as the retention of related information and documents 3.2 Recommendations to the organization of accounting at Hai Ha Confectionery Joint-stock Company