Chuyên đề thực tập financial situation of thanh do joint stock company

MINISTRY OF FINANCE ACADEMY OF FINANCE DE[PARTMENT OF CORPORATE FINANCE  uy Ch ên đề th ực TRINH KHANH LINH tậ p GRADUATION THESIS FINANCIAL SITUATION OF ệp i gh THANH DO JOINT STOCK COMPANY tn Tố Topic: Major: corporate finance Class : CQ54/11CL02 Code: 11 Supervisor: Ph.D Tran Thanh Thu Hanoi – 2020 i Graduation Thesis Supervisor: Ph.D Tran Thanh Thu DECLARATION I hereby declare that this is a study done by myself with the support of the supervisor The figures and the results stated in the thesis are honest from the actual situation of the internship company In case any information given in this thesis proves to be false or incorrect, I shall be responsible for consequences Signature of thesis’s author uy Ch ên đề Trinh Khanh Linh ực th p tậ tn Tố ệp i gh ii Graduation Thesis Supervisor: Ph.D Tran Thanh Thu ACKNOWLEDGEMENT In order to complete the thesis and finish the course, I would like to express my profound gratitude to the Academy of Finance for enabling me to have a good studying environment during my time at the school I would like to thank Dr Tran Thanh Thu, who assisted in the research process and directly guided the completion of this graduation thesis Ch In addition, I express my warm thanks to all my colleagues at Thanh Do Joint Stock Company, specially accounting department who provided me with the facilities uy being required and conductive conditions for my report ên During the internship due to the limitation in theories and practical experiences, I đề cannot avoid the shortcomings, I am looking forward to receiving feedbacks, ực th comments, and suggestions to complete the thesis Sincerely, tậ p Trinh Khanh Linh tn Tố ệp i gh iii Graduation Thesis Supervisor: Ph.D Tran Thanh Thu TABLE OF CONTENTS DECLARATION I ACKNOWLEDGEMENT II TABLE OF CONTENTS III LIST OF FIGURE .VI LIST OF TABLES VII uy Ch INTRODUCTION .1 CHAPTER I : OVERVIEW OF FINANCIAL SITUATION OF A COMPANY ên 1.1 CORPORATE FINANCE AND CORPORATE FINANCE MANAGEMENT đề 1.1.1 Corporate finance and financial decisions th 1.1.2 Financial management ực 1.2 FINANCIAL SITUATION OF A COMPANY 10 tậ p 1.1.1 Indicators for assessing financial situation of a company 10 tn Tố 1.3 DETERMINANTS OF FINANCIAL SITUATION OF A COMPANY .25 1.3.1 Objective factors 25 i gh 1.3.2 Subjective factors 25 ệp CHAPTER II : THE S0054ATUS OF FINANCIAL SITUATION IN THANH DO JOINT STOCK COMPANY IN THE PAST TIME 27 2.1 OVERVIEW OF THANH DO JOINT STOCK COMPANY 27 2.1.1 Establishment and Development of Thanh Do JSC 27 2.1.2 Organizational structure of Thanh Do JSC 29 2.1.4 Advantages and Disadvantages of Business Activities of Thanh Do JSC 31 2.2 ASSEST AND ASSET STRUCTURE OF THANH DO JOINT STOCK COMPANY 31 2.2.1 Sources of capital and capital structure iv Graduation Thesis Supervisor: Ph.D Tran Thanh Thu 2.2.2 Operating performance 10 10 2.2.3 Cash flows situation 14 2.2.4 Liabilities situation and Liquidity 22 2.2.5 Asset's utilization and profitability on using capital situation 26 2.2.6 The situation of profit distribution of the company 33 2.3 GENERAL ASSESSMENT ON THE FINANCIAL SITUATION OF THANH DO JOINT Ch STOCK COMPANY 34 uy 2.3.1 The achievements 34 ên 2.3.2 Limitations and reasons 34 đề CHAPTER III : SOLUTIONS TO IMPROVE THE FINANCIA SITUATION OF th THANH DO JOINT STOCK COMPANY 37 ực 3.1 SOCIAL ECONOMIC BACKGROUND AND DEVELOPMENT ORIENTATION OF THANH tậ DO JOINT STOCK COMPANY IN THE COMING TIME 37 p 3.1.1 Socio-economic context 37 Tố 3.1.2 Objectives and development orientation of Thanh Do Joint Stock Company tn 42 i gh 3.2 SOLUTION TO IMPROVE THE FINANCIAL SITUATION Ò THANH DO JOINT STOCK ệp COMPANY 45 3.2.1 Inhence inventory management and credit policy of Thanh Do JSC 45 3.2.2 Improve liquidity .45 3.2.3 Increase equity and reduce interest expenses 46 3.2.4 Improve business cost management solutions 46 3.2.5 Find potential markets, diversify products and approach customers 48 3.2.6 Perform regularly, proactively and effectively the business financial analysis 48 v Graduation Thesis Supervisor: Ph.D Tran Thanh Thu 3.3 CONDITIONS FOR IMPLEMENTING SOLUTIONS 49 3.3.1 Business environment 49 3.3.2 For the company 49 CONCLUSION 51 REFERENCES 52 uy Ch ên đề ực th p tậ tn Tố ệp i gh vi Graduation Thesis Supervisor: Ph.D Tran Thanh Thu LIST OF FIGURE Figure 1.1: Financing models of a company 22 Figure 2.1: Chart of organization structure of Thanh Do JSC .38 Figure 2.2 Capital structure of Thanh Do Joint Stock company in 2016-2019 .3 Figure 2.3: Financing models of Thanh Do JSC 2017-2019 10 uy Ch ên đề ực th p tậ tn Tố ệp i gh vii Graduation Thesis Supervisor: Ph.D Tran Thanh Thu LIST OF TABLES Table 2.1 Ownership structure of Thanh Do JSC 37 Table 2.1: Asset structure of Thanh Do Joint Stock Company in 2016-2019 (Unit: million dong) .41 Table 2.2: Difference in assets structure Thanh Do Joint Stock Company in 2016-2019 42 Table 2.3: Capital structure of Thanh Do Joint Stock Company in 2016-2019 (Unit: Ch million dong) .5 uy Table 2.4: Difference in capital structure in 2016-2019 .6 ên Table 2.6:Operating performance of Thanh Do JSC 2016-2019 (Unit: million dong) .10 đề Table 2.7: Difference in operating performance of Thanh Do JSC 2016-2019 (Unit: million dong) .11 th ực Table 2.8: Cost use level of the Company in 2016-2019 (Unit: million dong) 13 tậ Table 2.9: Cash flows statement of the Thanh Do JSC 2016-2019 (Unit: million dong) 14 p Table 2.10: Difference of cash flow statement of Thanh Do JSC 2016-2019 16 Tố Table 2.11: The ability to create cash from cash outflows of Thanh Do JSC 2016-2019 tn 19 i gh Table 2.12: Liabilities situation and liquidity of Thanh Do JSC 2016-2019 (Unit: ệp million dong) .23 Table 2.13: Liquidity ratios of Thanh Do Joint Stock Company in 2016-2019 24 Table 2.14: Indicator reflecting the capital's ultilization of Thanh Do JSC 2016-201927 Table 2.15: Profitability ratios of Thanh Do JSC 2016-2019 .30 Table 2.16: Profit distribution of Thanh Do JSC 2016-2019 .33 Table 3.1: Growth rate of per capita income in ASEAN region 38 Table 3.2: Retail growth vs GDP .39 viii Graduation Thesis Supervisor: Ph.D Tran Thanh Thu Table 3.3: Retail growth rate 39 Table 3.4:Forecasting the impact of the Covid-19 epidemic on Vietnam's economy in 2020 under scenarios (updated on 9/4/2020) 41 Table 3.5: Swot analysis model of Thanh Do JSC .42 uy Ch ên đề ực th p tậ tn Tố ệp i gh Graduation Thesis Supervisor: Ph.D Tran Thanh Thu INTRODUCTION Rationale of the thesis The process of globalization opens countries with opportunities to promote economic growth and social development Specifically, on November 12, 2018, the Resolution on ratifying the CPTPP Agreement was approved by the National Assembly and came into effect for Vietnam from January 14, 2019; On 12/02/2020, the free trade agreement between the European Union (EU) and Vietnam (EVFTA) was approved by the European Parliament (EP) In the context that Vietnam is getting Ch deeply involved in the global market, this is an opportunity and also a challenge for uy Vietnamese enterprises in the quest to gain a foothold in the international market ên The world economy is showing complicated changes, leading to Vietnam's đề economy are also affected, the most influential part is to mention that businesses, in which small and medium enterprises are occupying a large percentage of the economy, th and also the place to create a major job in Vietnam Therefore, the health of small and ực medium enterprises also greatly influences Vietnam's competitiveness in the p tậ international arena Therefore, businesses have to proactively maintain their financial situation, leveraging the potential and resources available to drive business operations Tố tn To implement effective management of business operations, assessment and analysis of the financial situation of enterprises must often be held regularly This is i gh important not only for the business but also for investors, creditors, employees ệp interested in decisions making The financial situation is the introduction of the current state of the business, determining the factors affecting the business situation to bring the legal timely, an overview to stabilize and improve the profitability as well as firm value Arising from the role of financial situation in corporate finance, after the internship period at Thanh Do Joint Stock Company, with the guidance of my supervisor, PhD Tran Thanh Thu and the help of the Accounting department of Thanh Do JSC, I chose to examine: "Financial situation of Thanh Do Joint Stock Company" in my graduation thesis 48 the national GDP growth and a large proportion of the total GDP Investing in retailing is investing in the future of the economy in Vietnam Table 3.2: Retail growth vs GDP uy Ch ên Currently, the total retail sales of goods and revenue of consumer services have đề reached a high growth rate compared to the previous year, showing that the demand of th consumers is increasing At the same time, the supply of goods on the market is ực plentiful, fully capable of meeting production and consumption needs The expanding p Table 3.3: Retail growth rate tậ consumer market contributes to the excitement of the retail market tn Tố ệp i gh Thus, the retail industry is one of the industries that play an important role in the entire Vietnamese economy It is important to invest in and develop industries since then to strongly develop the country's economy 49 However, early in 2020, the Covid epidemic originating from China spread to the whole world in general and Vietnam's economy in particular, causing serious consequences to the world economy, causing one third of the world's population to suffer blockade orders, non-essential service business activities must be closed Specifically, according to Moody's, in 2020, the gross domestic product (GDP) of the G20 countries will decline by 0.5%, the US GDP will decrease by 2%, the GDP of the euro area will decrease by 2, 2% China's economic growth is forecast to reach only 3.3%, a very low level for this country In Vietnam, thanks to the timely determination of the Government, on May 16, 2020, the Covid-19 epidemic has been successfully uy other countries Ch controlled so that the impact of the disease on Vietnam is less negative than that with ên The following is a forecast of the impact of the Covid-19 epidemic on the đề personal consumption (retail) industry in Vietnam ực th p tậ tn Tố ệp i gh 50 Table 3.4:Forecasting the impact of the Covid-19 epidemic on Vietnam's economy in 2020 under scenarios (updated on 9/4/2020) Baseline Scenario Negative Scenario n % % % % % % -3.00 -4.00 -3.00 2020 % 2nd quarte r % -2.00 2020 % % -6.00 -5.00 -4.00 p iệ gh tn Tố Excerpt: Updated report of Vietnam economic growth scenario 2020 in the context of the Covid-19 pandemic Dr Can Van Luc and author of BIDV Training and Research Institute months p -5.50 months tậ -4.00 2020 2nd quarter ực months th 2nd quarter đề 1st quarter (%) 1.16 Positive Scenario yê Personal consumpt ion (retail) FORECAST THE LEVEL OF IMPACT (% CHANGED FROM NO COVID-19 DISEASES) u Ch Branches and fields affected Comparisi on (compare d to the same period in 2019) 51 Based on the above research, in general, with retail scenarios, all were negatively affected, specifically under a positive scenario, by 2020, the industry and individuals will decline by 2%, and the negative scenario will be a decline 4% 3.1.2 Objectives and development orientation of Thanh Do Joint Stock Company In order to come up with accurate strategies, Thanh Do always has to assess the status of the company itself, namely, Thanh Do has a variety of business items, a large number of loyal customers with a distribution network, widely coordinated, capable of developing and expanding the business scale In the short term the company has an Ch advantage to grow However, in the long term, before the expansion of the scope of uy activities of major distributors, not to mention many other distributors have consulted ên and found locations to open supermarket chains such as Big C; with the appearance of VINMART and a number of mini supermarkets the market share of the company đề will face fierce competition from these competitors ực th About activities and prospects: Table 3.5: Swot analysis model of Thanh Do JSC  Having participated in the distribu-  There are many businesses doing p Market a large market share dition, there are shops and small locations for consumers suitable to common needs and intion in the province  Reasonable price  Promotion policies from time to time Distribution  There are many distribution channels both inside and outside the ệp  Diversified and diversified products  No high-end products yet come of the majority of the popula- channel supermarkets sold at convenient i gh  Large number of loyal customers tn business in the same field, in ad- sumers and services Tố tion for a long time, therefore, it has  Prestige, known by many con- Products WEAKNESS tậ STRENGTH 52 province OPPORTUNITY Market THREATS  Expanding market share to neigh-  In the province, especially in the boring provinces city with the participation of some famous distributors such as Media Mart, Dien May Xanh, that is inevitable to share the market Products and services  Diverse goods, guaranteed quality,  Diversifying competitive prices products and services further, towards a large Ch supermarket to meet the needs uy of the people is a challenge, ên from which businesses compete in the same field đề Distribution  Expansion of distribution channels  Ability to compete with other through optional store network competitors in the area th channel ực  New distributors are also developing markets to potential dis- p tậ tricts Tố In the context of fierce competition in the market, with the fact that many new tn distributors are seeking to increase market share, Thanh Do Joint Stock Company i gh maintains its position and stability is an encouraging success The company's activities directly create jobs and income for direct, indirect employees, etc annually contribute ệp significantly to the local budget, the total annual budget contribution is over 1,000 million VND, The tax is fully and punctually paid by the company, there is no penalty for late payment Scale and performance are well maintained The retail market in Lang Son is divided into areas: the city area and the rural area (including many districts and communes), in the enterprise city area, there is a store at 96 Phai Ve,.Dong Kinh ward and a buffet shop: Huong Ha (Vinh Trai ward) Currently, Thanh Do has to share the market with many other competitors such as Vinmart, Dien may Xanh so the company is studying and orienting to expand the business market to the districts and communes in the locality Lang Son province in 53 2020 through research, businesses found that: Consumers in rural areas often favor price factors over quality and service, many parts believe that prices in modern stores, supermarkets are more expensive than local markets and traditional stores and grocery stores Meanwhile, the current price in Thanh Do supermarket is not more expensive than in markets and traditional stores In this area, competitors are mainly traditional small shops The company is quite confident about the current sales policies, the reasonable price of the items and about its current position Therefore, the company decided to use collaterals to raise about billion more loans along with billion of equity capital to invest in stores in Dinh Lap district (due to the large area of the currently no retail supermarket) uy Ch district, the population is quite crowded ) and Bình Gia district (since there is ên To achieve these goals, Thanh Do has set up strategies such as: đề - Strategy on labor resources th Labours is an important factor affecting the long-term development of an ực enterprise, so Thanh Do always tries to select employees suitable for the position, tậ improve qualifications, update knowledge to facilitate development for staff In p addition, businesses always perform fully obligations and responsibilities to Tố employees, ensure benefits for employees, publish salary policies, welfare funds With tn the current workforce of 80 people, businesses conduct the evaluation of the i gh performance of departments and individuals, estimating to minimize the positions that are not really necessary to minimize costs The salaries of current employees at the ệp same time considering recruiting or transferring existing personnel to the upcoming store are expanded in Dinh Lap and Binh Gia districts - Financial strategy Thanh Do's strategy is to operate a system of supermarkets, stable retail stores, growing, striving for sustainable production and business growth in 2020 Regarding specific costs and cost planning, reduce the maximum interest expense, make the most of available resources, use the most qualified capital, use leverage effectively, thereby increasing profits for the owner In addition, the company has made great efforts in stabilizing and strictly managing cash flows by developing reasonable capital 54 mobilization and utilization plans in the current market conditions Along with that, as an enterprise in the retail business, Thanh Do is also interested in inventory management, increasing inventory turnover, reducing receivables from customers to ensure cash flow continuous, regular operation - Market strategy Clearly identify the target groups, conduct an analysis of the target market and customer needs, plan an effective Marketing organization, select a branding channel suitable to the level of technology and the intellectual level in the area Develop Ch customer policies appropriate to each business period such as sales promotion, discount items to attract consumers uy ên 3.2 Solution to improve the financial situation ò Thanh Do Joint Stock Company đề From the above analysis results, I would like to have some suggestions to improve the financial situation of the company as follows: th ực 3.2.1 Inhence inventory management and credit policy of Thanh Do JSC In order to balance the asset structure, the company should first focus on tậ p managing the liabilities, Thanh Do needs to increase the debt collection work, increase Tố the turnover of the accounts payable by reviewing the policy on the accounts payable, tn consider the repayment time for customers, improve the current policy to bring more incentives to customers , policies that encourage customers to pay early and on time i gh The company may use policies such as early payment philosophy, or the discount for philosophy and compare it to the interest rate at the bank ệp pre-paid customers, however it is necessary to accurately calculate the rate of 3.2.2 Improve liquidity In 2019, the solvency ratios have improved but still not really good, namely the quick solvency ratio and very low instant solvency ratio (less than 0.04), showing that shows that the ability to pay short-term debts of the company is not really sure in case the company faces liquidity risks or unforeseen risks such as warehouse explosion This may affect the company's reputation with partners or creditors So the company needs to implement improvement solutions 55 First, the company should clearly and specifically plan borrowing costs in order to minimize interest expenses On the other hand, loans are the main source of funding for inventories, so Thanh Do can negotiate with suppliers about reducing deposits, increasing payday cycles, increasing appropriated capital is intended to ease repayment pressure - Besides improving the solvency, Thanh Do also needs to focus on reviewing customers' financial information to ensure the ability to recover debts on time, avoid bad debts and bad debts Ch 3.2.3 Increase equity and reduce interest expenses uy Thanh Do should raise more capital from existing shareholders or new ên shareholders to increase long-term capital to finance short-term capital, besides this also contributes to reduce interest costs, reduce debt pressure đề 3.2.4 Improve business cost management solutions th ực The crisis of the world economy in recent years has had negative effects on the stability of our country's economy The price of consumer goods is increasing, in the tậ short term affecting consumer purchasing power Besides, other costs such as fuel p costs, electricity and water also increased Increasing management costs of the Tố business General and administration expenses account for a large proportion of the tn cost norms, including selling expenses (introduction costs, product advertising, i gh shipping costs, etc.) and management costs enterprises (salaries and insurance costs for ệp employees; depreciation costs; service costs such as electricity and water; land rental, ) Reducing business costs is also a measure to increase the competitiveness of enterprises, increase profits of owners - Firstly, set a reasonable inventory level to reduce holding cost by choosing an optimal level inventory just enough to serve operating business but not too much to increase holding cost Besides, it is necessary to discuss regularly with partners importing goods from the company, refer to the model just in times to minimize holding costs 56 - Secondly, in order to save production costs, it is necessary to minimize selling costs, in which transport costs are mainly because this activity must take place regularly and continuously, it is necessary to determine the distance between warehouses of the supplier whose warehouse, provides an optimum method, for example, transporting the maximum possible quantity but not exceeding the specified tonnage, choose the nearest route, together with it, with the present condition that increase in people's income leads to the increasing demand for transportation and the traffic means in the area, so the selection of transport time is also necessary to minimize the cost of petrol and oil Moreover, the main products of the company are Ch consumer goods, the shelf life of the above items is short, in the process of uy transporting goods, there may be some preservation risks affecting the quality product, ên this can result in increased costs On the other hand, the item for advertising and product introduction can not be ignored, specifically this is the marketing cost, need to đề clearly identify the target customers, capture the psychology of customers to promote ực th the product, can just hit the customer psychology (number of customers access to the largest promotional information possible), and can minimize the number of tậ promotions to reduce costs p - Thirdly, reduce inventory costs by choosing a optimum level of inventory Tố when it is sufficient to serve business oporation without increasing holding cost and tn storage costs In addition, it is necessary to discuss regularly with partners importing i gh goods from the company, refer to the model just in times (of Toyota) to minimize costs related to inventories, however, it should be determined exactly the amount of ệp inventory needed so as not to interrupt the business process -  Next, conducting the evaluation and evaluation of the performance of departments and individuals, estimating to minimize the positions that are not really necessary to maintain the salary in line with the labor productivity of the employees, moreover, for stores that are about to expand need to recruit suitable personnel for the position, put forward many policies for the labor force to commit to long-term commitment, the purpose is to reduce recruitment costs in the long run - Finally, minimize risks from factors of fire, power short-circuit fire At shops, supermarkets and warehouses, there are many types of flammable goods To reduce 57 this risk, buying insurance for goods and facilities can be a good choice In fact, the company has also conducted insurance for the goods in the warehouse, but still needs to be alert, especially in the summer when the use of electrical equipment increases sharply, the risk of fire always on 3.2.5 Find potential markets, diversify products and approach customers - Actively seeking customers and expanding business to other districts in Lang Son province Most of the districts in the province not have many modern stores but only household stores, traditional shops, etc., so the expansion of these locations is Ch feasible, customers often have The trend of shopping at the store has many choices, moreover the price at the Thanh Do system is reasonable uy - With supermarkets in the areas of Lang Son City and Hanoi, the company ên currently mainly trades essential goods, affordable prices, has not developed high-class đề products targeting high-income customers Therefore, diversifying products and th services, targeting a large supermarket to meet the needs of many income classes can ực be a solution Specifically, administrators need to consider customer needs with multiple income levels, information gathering, and product development targeting p tậ more customers Tố - Moreover, according to MBS's Retail Sector Report, the number of Internet tn users in Vietnam is growing very fast, affecting consumption behavior of the population Businesses may consider developing Internet advertising to reach users i gh faster Businesses can promote products on social networking sites targeting the needs ệp of retail customers in the area, with this group of customers, adjust some delivery policies within close radius, or free delivery for invoices with a value of million or more, This also brings more opportunities for cooperation with Chengdu other partners outside the area 3.2.6 Perform regularly, proactively and effectively the business financial analysis The analysis of business operations of enterprises often plays a very important role in the process of operating businesses, especially in the context of the economy is constantly changing as today Business performance analysis reflects the current 58 situation of the business, from which the administrator can make the right business decisions - Regarding the analytical process: it is necessary to clearly define the analytical objectives and scope, and select the data to be collected logically, completely and logically From the clear orientation of the objectives, the determination of analytical focus becomes more clear, serving the development of an effective long-term analytical system - The human factor is the deciding factor when operating an enterprise similar to the analysis of corporate finance, so training and human resource development uy Ch cannot be ignored 3.3 Conditions for implementing solutions ên 3.3.1 Business environment đề - People's Committee of Lang Son province and city should pay more attention th to businesses, make reasonable policies, create favorable conditions for businesses to ực broadcast On the other hands, this dramatically significantly to job creation for tậ workers, reducing the burden on society contribute to the budget provinces and cities p In the context of the economy severely affected by the epidemic Covid-19, based on Tố Decree 41/2020 / ND-CP, needed by provincial and city leaders timely support tn businesses in the area of tax payment extension, the Corporation Thanh Do is also in i gh the category of tax payment extension because of meeting the criteria small business ệp - Banks need to go hand in hand with the state in difficult economic conditions because of Covid-19 epidemic, creating favorable conditions to support small businesses like Chengdu Specifically, BIDV bank, Lang Son branch, where the Company borrowed mainly, should quickly disburse cheap credit packages or extend debt, reduce debt for customers 3.3.2 For the company - Improve the capacity and qualifications of employees: People are always the most important resource for every business Thanh Do Joint Stock Company has a majority of university and college human resources structure Most workers are local 59 people, with the characteristics of small and undeveloped cities, the retail service industry's thinking is still limited, so the quality of human resources of Thanh Do is still low For example, for business executives, in the fierce competition in the retail industry, products are gradually saturated, prices and quality are almost similar among competitors, related service quality to people becomes a major consumer concern Or as the level of planning staff, market development is related to the development of the Company's business strategy Therefore, to implement solutions, the Company should pay more attention to human resources Improve the average level of workers Open internal training classes or create conditions for employees to access new knowledge Ch to enhance thinking and awareness uy - Building a good relationship with customers (sell always, retail): For the main ên business area in Lang Son city, building good relationships with customers is very important The market size is small and the area is narrow, so the advantages of đề business location, price, and convenience are almost no difference between businesses ực th At this time, the emotional factor will influence customers' purchasing decisions - Relations with suppliers and banks: Applied specifically to Thanh Do, with the tậ advantage of being the first large-scale retail enterprise in Lang Son, with a long p history of operation, the company should take advantage of its reputation for suppliers Tố to negotiate more favorable conditions for businesses related to deferred payment tn For banks, in difficult times by Covid-19 epidemic, businesses should actively packages with preferential interest rates ệp i gh negotiate with banks on rescheduling, reducing old loans and borrowing new loan - Changing and improving the current management systems of the Company: The current operation method of the company has not come into the system, the operating procedures are incomplete leading to low labor productivity, the activities need a lot of urgency and control from the Board of Directors With the current system, the Company can apply many changes to improve operating and business cost ratios - Improve the processes related to logic, sales, human resources, labor safety, reducing redundant personnel: The company needs to build operational processes to be able to automate businesses, reduce operating costs Having good processes will help 60 reduce errors, reduce costs, increase labor productivity, and improve business indicators uy Ch ên đề ực th p tậ tn Tố ệp i gh 61 CONCLUSION The internship and practical experience at Thanh Do Joint Stock Company helped me understand the importance of financial decisions in a business During the internship, with the knowledge accumulated at the university, especially the enthusiastic help of the teacher Dr Tran Thanh Thu - Department of Corporate Finance, as well as the Accounting department at Thanh Do Joint Stock Company, I have finished my thesis with the subject: “Financial situation of Thanh Do Joint Stock uy Ch Company ” From the knowledge accumulated at the Academy and the practical process ên combined with in-depth knowledge of the company, to a certain extent, in accordance đề with my abilities, I have been in charge of assessing and analyzing the financial status of Thanh Do Joint Stock Company for the period of 2016-2019 and offer some th can help the company management ực solutions to improve the financial situation of the company I hope these comments tậ p However, with limited capacity and short-practice time, the implementation of Tố this topic cannot avoid shortcomings because this is a general and complex problem tn that requires a lot of practical experience I look forward to receiving the advice and Stock Company to help me to improve this thesis ệp i gh additional comments from the teachers and brothers and sisters at Thanh Do Joint Finally, I would like to thank Dr Tran Thanh Thu for her help in completing this graduation thesis, as well as the enthusiastic guidance of all the members in Thanh Do Joint Stock Company in practice time at the Company 62 REFERENCES https://thebank.vn/blog/17144-quan-tri-tai-chinh-la-gi-va-tam-quan-trong-voi-suphat-trien-cua-doanh-nghiep.html https://ketoansaovang.com.vn/vn/tin-tuc/119/khai-niem-va-y-nghia-cua-phantich-tai-chinh-doanh-nghiep.html https://vietnambiz.vn/von-bang-tien-cash-and-cash-equivalents-la-gi-ke-toan- Ch von-bang-tien-20190825122603211.htm http://ngheketoan.edu.vn/Detail/20171/Phan-tich-kha-nang-tao-tien.aspx https://voer.edu.vn/m/hieu-qua-su-dung-von-trong-doanh-nghiep/ef05e3c6 http://vpcp.chinhphu.vn/Home/Toan-van-Bao-cao-do-Thu-tuong-trinh-bay-truoc- uy ên th Assoc Prof.Dr Vu Van Ninh, Assoc Prof.Dr.Bui Van Van - Corporate Finance - ực đề Quoc-hoi/201910/26696.vgp p 2015 tậ Corporate Finance Faculty, Academy of Finance - Finance Publishing House - tn Tố ệp i gh