Another way to define costs: Costs are the costs of resources for abusiness to achieve one or more specific goals.Types of expenses are reflected in the income statement: Trang 12 - Cos
MINISTRY OF FINANCE ACEDAMY OF FINANCE - - NGUYEN THANH HUONG CQ57/21.03CL GRADUATION THESIS TOPIC: “ACCOUNTING FOR REVENUE, EXPENSES AND DETERMINATON OF BUSINESS RESULTS AT DKD VIETNAM TRADING AND SERVICE JOINT STOCK COMPANY” Major: Corporate Accounting Code: 21 Mentor: PhD Thai Ba Cong MAc Nguyen Ba Linh Hanoi – 2023 DECLARATION I hereby declare that this thesis is my own work and effort and that has not been submitted anywhere for any award Where other sources of information have been used, they have been acknowledged The data and results described in the thesis are derived from the actual situation of the practice company Thesis: “Accounting for revenue, expenses and determination of business results at DKD Vietnam Trading and Service Joint Stock Company” Student Nguyen Thanh Huong LIST OF ABBREVIATIONS Abbreviation Account Full phrase Acc Corporate income tax CIT Cost of goods sold COGS Cost of sale COS Vietnam Dong VND Earnings Before Interest and Taxes EBIT Value added tax VAT LIST OF TABLE LIST OF FLOWCHART LIST OF SCREEN INTRODUCTION Urgency of the topic The emergence and development of accounting is associated with the development of the social economy As society develops, accounting becomes more and more important and becomes an indispensable tool in state and enterprise economic management Enterprises want to survive, they must maximize profits, save costs, and improve business efficiency in the current context Therefore, accounting for revenue, expenses and business results plays an important role for managers when deciding on the existence of the company in today's economy Based on business results, managers make short-term and long-term decisions for the company On the other hand, by accounting for revenue, expenses and business results, it is also possible to determine the tax liability to be paid to the state In fact, each enterprise has its own production and business characteristics, so the accounting and management of revenue, expenses, and business results are different, so the business results are different Internship at DKD Vietnam Trading and Service Joint Stock Company is an opportunity for me to approach the reality of accounting, especially revenue and cost accounting and determine business results With the guidance and dedicated guidance of lecturers Thai Ba Cong and Nguyen Ba Linh, the accountants of the Finance - Accounting department of the company have grasped specific knowledge about the company and accounting work in the company company Realizing the importance of accounting for revenue and expenses and determining business results, after an internship at the company, I decided to choose a research topic to write my final thesis: "Planning" Calculating revenue, expenses and determining business results at DKD Vietnam Trading and Service Joint Stock Company." Research purpose - Research purposes: Find out the current status of revenue accounting and determine business results at DKD Vietnam Trading and Service Joint Stock Company General comments on the achievements and shortcomings in revenue accounting and determination of business results, thereby making recommendations to improve revenue accounting and determining business results at DKD Vietnam Trading and Service Joint Stock Company Object and scope of research - Research object: The topic focuses on researching theoretical and practical issues of revenue accounting and determining business results at DKD Vietnam Trading and Service Joint Stock Company - Research scope: Accounting for revenue, expenses and determination of business results at DKD Vietnam Trading and Service Joint Stock Company in 2021 Research Methodology - Secondary documents: Documents and textbooks on accounting theory of revenue, costs and determination of business results - Key documents: Books and reports related to revenue and expense accounting and determination of business results at DKD Vietnam Trading and Service Joint Stock Company - Research method: Document study combined with investigative interview: The purpose of the research interview is to collect primary information on revenue accounting and determine business results at Vietnam DKD Trades and Services joint stock company The subjects interviewed and surveyed were chief accountants and in charge of accounting The process is a combination of collecting actual documents with direct observation and interview methods… Main structure of the thesis This report is divided into three chapters to further present my understanding of the company in general and the accounting system in particular: Chapter I: Basic theoretical issues of accouting for revenue, expenses and determination of business results in enterprises Chapter II: Actual situation of accouting for revenue and expenses accounting and determination of business results at DKD Vietnam Trading and Service Joint Stock Company Chapter III: Some solutions to improve accounting for revenue, expenses and determination of business results at DKD Vietnam Trading and Service Joint Stock Company As a student approaching the reality of accounting for the first time, my thesis inevitably has shortcomings due to its general nature and limited time I look forward to receiving the help, evaluation and suggestions from the leaders, staff of the accounting department of DKD Vietnam Trading and Service Joint Stock Company, the teachers in the Academy of Finance, especially are two lecturers Dr Thai Ba Cong and MSc Nguyen Ba Linh so that I can finish my thesis Thank you sincerely! CHAPTER I: BASIC THEORETICAL ISSUES OF ACCOUNTING FOR REVENUE, EXPENSES AND DETERMINATION OF BUSINESS RESULTS IN ENTERPRISES 1.1 Concepts and tasks of revenue accounting and determining business results of an enterprise 1.1.1 The concept of revenue, expenses, business results and the role of accounting sales and results determine business Revenue plays a vital role in the existence and development of the enterprise itself and the general development of the entire economy, especially the market economy In order to achieve higher and higher profits, enterprises must develop their business plan, which must fully and accurately calculate the costs and results achieved The organization of revenue accounting and determination of business results is an essential tool in effectively managing and operating business activities in the business process Definition of Revenue According to Vietnamese accounting standard No 14 (VAS14 - Revenue and other income) issued under Decision No 149/2001/QD-BTC dated December 31, 2001 of the Ministry of Finance stipulates: “Revenue is the total the value of the business's ordinary business contributing to an increase in equity" or provision of services to customers