Accounting for sales and determination of business results at quang ninh cotto company limited

Suggestion to improve the efficiency of management accounting for salesQuang Ninh Cotto Company Limited...131CONCLUSION OF CHAPTER 3...134CONCLUSION...135 Trang 9 FLOW CHARTFlow Chart 1

MINISTRY OF FINANCE ACADEMY OF FINANCE GRADUATION THESIS ACCOUNTING FOR SALES AND DETERMINATION OF BUSINESS RESULTS AT QUANG NINH COTTO COMPANY LIMITED Mentor : Tran Thi Ngoc Diep Student : Pham Minh Anh Class : 21.02.CLC Major : Corporate Accounting HA NOI - 2023 MINISTRY OF FINANCE ACADEMY OF FINANCE GRADUATION THESIS ACCOUNTING FOR SALES AND DETERMINATION OF BUSINESS RESULTS AT QUANG NINH COTTO COMPANY LIMITED Mentor : Tran Thi Ngoc Diep Student : Pham Minh Anh Class : 21.02.CLC Major : Corporate Accounting Code : 21 HA NOI - 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 Hanoi, 2023 Student Pham Minh Anh i ACKNOWLEDGEMENT Firstly, I am deeply indebted to my supervisors Mac Tran Thi Ngoc Diep, whose help, stimulating suggestions and encouragement helped me all the time of research for and writing of this thesis I also want to thank Quang Ninh Cotto Company Limited for giving me permission to commence this thesis in the first instance, to the necessary research work and to use departmental data I have furthermore to thank the former Vice Director and Accounting Manager as well as all seniors at Quang Ninh Cotto Company Limited who gave and confirmed this permission and encouraged me to go ahead with my thesis Especially, I would like to give my special thanks to my family whose patient love enabled me to complete this work ii TABLE OF CONTENTS DECLARATION .i ACKNOWLEDGEMENT ii TABLE OF CONTENTS .iii FLOW CHART .vii SCREEN viii IMAGE ix LIST OF ABBREVIATIONS x INTRODUCTION The purposes of the dissertation The object and scope of the dissertation .2 Research Method The structure of the dissertation CHAPTER I: BASIC THEORY ISSUES ON SALE ACCOUNTING GOODS AND DETERMINATION OF BUSINESS RESULTS 1.1 Necessity of organization of sales accounting and determination of business results in enterprises 1.1.1 Sales process 1.1.2 Sales results 1.1.3 Roles and duties of sales accounting and determination of sales results 1.2 Sales methods 1.2.1 Method of wholesale goods 1.2.2 Method of retailing goods 1.2.3 Selling agent, consignment 1.2.4 Selling goods to foreign countries (exporting goods); by two methods: iii 1.3 Roles and responsibilities of sales accounting and determining sales results 1.3.1 The role of sales accounting and determining sales results in business management: 1.3.2 Responsibilities of sales accounting and determining sales results .10 1.4 Accounting methods for sales process and determination of business results in commercial enterprises 11 1.4.1 Accounting of sales revenue and sales deductions 11 1.5 Accounting of selling expenses and administrative expenses 27 1.5.1 Accounting for other expense 34 1.5.2 Accounting for corporate income tax 35 1.6 Accounting for business result .38 1.6.1 Definition: 38 1.6.2 Accounting for business result 38 1.7 Presentation on financial statement 41 CONCLUSION OF CHAPTER 43 CHAPTER 2: ACTUAL SITUATION OF ACCOUNTING FOR SALES AND DETERMINATION OF BUSINESS RESULTS QUANG NINH COTTO COMPANY LIMITED 44 2.1 Overview of Quang Ninh Cotto Company Limited .44 2.1.1 The formation and development of the company 44 2.1.2 Characteristics of production and business organization 45 2.1.3 Organizational characteristics of accounting work in the company 50 51 2.1.4 Organizational characteristics of accounting work in the company 52 iv 2.1.4.2 Introduction of accounting software applied at Quang Ninh Cotto company limited 57 2.2 Actual situation of sales accounting and determination of business results Quang Ninh Cotto company limited .60 2.2.1 Accounting for sales revenue and revenue deductions .60 2.2.2 Accounting for financial expenses at Quang Ninh Cotto company limited 91 2.2.3 Accounting for administrative expenses at Quang Ninh Cotto company limited 93 2.2.4 Corporate income tax expense accounting 101 2.2.5 Accounting for corporate income tax 102 2.2.6 Accounting determines business results .104 2.2.7 Presenting sales accounting information and determining business results at Quang Ninh Cotto Company Limited on financial statements 106 2.3 Assessing the current situation of sales accounting and determining business results at Quang Ninh Cotto Company Limited 110 2.3.1 Advantages 110 2.3.2 Limit 113 CHAPTER 3: SOME SOLUTIONS TO IMPROVE ACCOUNTING FOR SALES AND DETERMINATION OF BUSINESS RESULTS AT QUANG NINH COTTO COMPANY LIMITED 115 3.1 Orientation and development strategy at Quang Ninh Cotto Company Limited 115 3.1.1 Orientation at Quang Ninh Cotto Company Limited 115 3.1.2 Strategy at Quang Ninh Cotto Company Limited .116 3.2 Requirements and principles for completing Accounting for sales and determining sales results at Quang Ninh Cotto Company Limited .117 v 3.2.1 Ensuring the compliance with policies and regimes 118 3.2.2 Ensuring the thriftiness and efficiency 121 3.2.3 Ensuring to be consistent with the production and business activities and the development orientation of the enterprise 122 3.3 Perfection Principle 123 3.4 Some solutions to improve sales accounting and determine sales results at Quang Ninh Cotto Company Limited 124 3.4 Conditions for implementing the solution 128 3.4.1 From the business side 128 3.4.2 On the side of the state 129 3.5 Suggestion to improve the efficiency of management accounting for sales Quang Ninh Cotto Company Limited 131 CONCLUSION OF CHAPTER .134 CONCLUSION 135 REFERENCE 136 vi FLOW CHART Flow Chart 1.1: accounting entries for sales revenue and revenue deduction 15 Flow Chart 1.2: Accounting entries for cost of goods sold according to perpetual inventory count 19 Flow chart 1.3: Cost of goods sold entries 24 Flow chart 1.4: Sales cost accounting entries .32 Flow chart 1.5: Enterprise management expenses entries .33 Flow chart 1.6 Accounting entry for other expenses 35 Flow chart 1.7: Accounting entries for income tax expense 38 Flow chart: 2.1: The company's organizational structure and management 51 Flow chart: 2.2: The accounting apparatus of the company 53 Flow chart 2.3: Organizational chart of accounting in the form of General 55 Flow chart 2.4: Accounting process 58 vii SCREEN Screen 2.1: Working screen of SHIFT accounting software 59 Screen 2.2: Working screen for Account 511 .74 Screen 2.3: Supplier trial balance 76 Screen 2.4: Working screen for General ledger 81 Screen 2.5: Working screen for Account 515 .85 Screen 2.6: Working screen for Account 632 .91 Screen 2.7: Working screen for account 635 93 Screen 2.8: Working screen for account 642 97 Screen 2.9: Salary payment sheet 99 Screen 2.10: Table Depreciation of Fixed Assets .101 Screen 2.11: Working screen for account 821 103 Screen 2.12: Working screen for Account 911 107 Screen 2.13: Working screen for Statement of income .109 viii