Scientific and practical significance- Scientific significance: Based on inheriting the existing research results, thethesis has synthesized the theoretical basis for analyzing the finan
ACADEMY OF FINANCE FACULTY OF CORPORATE FINANCE o0o DANG YEN NHI CQ57/09.01CL GRADUATION THESIS TOPIC: ANALYZING THE FINANCIAL SITUATION OF VNECONOMY Major : Financial Analysis (Advanced Education Program) Code : 09 Instructor : Ph.D Pham Thi Quyen Ph.D Dao Hong Nhung HÀ NỘI - 2023 DECLERATION OF AUTHORSHIP I hereby declare that the thesis was carried out by myself and that the work contained and the results in it are true and derived from the actual situation of the internship organization Author Đặng Yến Nhi i TABLE OF CONTENTS ABBREVIATIONS iv LIST OF TABLE vi LIST OF DIAGRAMS vi PREFACE 1 The urgency of the topic Research objectives Subjects and scope of study Research methodology Scientific and practical significance Structure of the thesis .3 CHAPTER 1: THEORETICAL BASIS FOR ANALYSIS OF NON- BUSINESS UNIT SITUATION .4 1.1 Overview of analysis of financial situation of the non-business unit 1.1.1 Concept, financial characteristics of non-business unit 1.1.2 Concept and objectives of financial analysis of business units 1.1.2 Organizational characteristics of unit management 10 1.1.3 Source of information and methods of analyzing the financial situation of non-business units 15 1.2 Contents of Analyzing the financial situation of non-business unit 20 1.2.1 Analysis of assets and capital sources 20 1.2.2 Analysis of business results 23 1.2.3 Analysis of cash flow situation 27 1.2.4 Analysis of debt situation and solvency .29 1.2.5 Analysis of Group’s efficiency 33 1.2.6 Analysis of the profitability of the unit 38 1.3 Factors affecting the financial situation of the unit 42 CONCLUSION OF CHAPTER 44 ii CHAPTER 2: ANALYSIS OF THE CURRENT FINANCIAL SITUATION OF VNECONOMY JOURNAL 45 2.1 Introduction to VnEconomy Journal 45 2.1.1 The process of formation and development of the company 45 2.1.3 Industry characteristics of the unit 47 2.2 Analysis of the financial situation of VnEconomy Journal 51 2.2.1 Analysis of assets and capital sources 51 2.2.2 Analysis of business results 59 2.2.3 Analysis of cash flow situation .64 2.2.4 Analysis of debt situation and solvency 66 2.2.5 Analysis of Group’s efficiency .72 2.2.6 Analysis of the profitability of the unit 75 2.3 General assessment of the financial situation of VnEconomy 78 2.3.1 Results achieved 78 2.3.2 Limited and causes 80 CONCLUSION OF CHAPTER 82 CHAPTER 3: SOLUTIONS TO IMPROVE FINANCIAL SITUATION OF VNECONOMY JOURNAL 83 3.1 Company’s development strategy 83 3.1.1 Socio-economic context 83 3.1.2 Overview of the journalism industry .85 3.2 Objectives and development orientation of VnEconomy Journal .87 3.3 Conditions for the implementation of solutions 91 CONCLUSION OF CHAPTER 94 CONCLUDE 95 REFERENCES 97 APPENDIX 98 iii FS ABBREVIATIONS BEP GV Financial statements BKS Basic earning power E Selling of goods and services NR Board of Supervisors GDP Enterprises GV Net Revenue STIR Gross Domestic Product STIRQT Cost of capital BE Short-term investment ratio HS Board of Management FCE Business effectiveness CE Ratio SFR Fixed capital effectiveness KD Capital effectiveness DWC Self-financing ratio DSOD Business DIOH Working capital turnover period NTO Average collection period N Days of inventory turnover ROA Net turnover ROE Number of days in the period ROS Return on assets AFC Return on Equity AWC Profitability Ratio ASAR Average fixed capital Average working capital Average short-term receivables iv AI Average inventory WCTO Working capital turnover ARTO Accounts Receivable Turnover ITO Inventory turnover CI Corporate income A Assets FA Fixed assets FC Fixed capital Hd Short-term investment ratio HS Ratio HSCd Fixed capital efficiency HSKD Capital efficiency HT Self-financing ratio KLd Working capital turnover period KPT Average collection period KTK Days of inventory turnover LCT Net turnover SCd Average fixed capital SLd, SNH Average working capital SPT Average short-term receivables STK Average inventory SVLĐ Working capital turnover SVPT Accounts Receivable Turnover SVTK Inventory turnover LIST OF TABLE Table 2.1 Asset situation of VnEconomy journal in the period of 2020 -2021 51 Table 2.2a Capital situation of VnEconomy in the period of 2020 -2021 55 v Table 2.2b Liabilities situation of VnEconomy journal in the period of 2020 - 2021 .56 Table 2.2c The situation of the owner’s equity of VnEconomy journal in the period of 2020 -2021 .58 Table 2.3 Actual situation and business results of VnEconomy journal in the period of 2020 – 2021 59 Table 2.4 Current status of cash flow situation of VnEconomy Journal in the period of 2020 - 2021 64 Table 2.5a The debt situation of the Vietnam Economy Journal in the period of 2020 - 2021 .67 Table 2.5b Analysis of financial coefficients of VnEconomy Journal in the period of 2020 - 2021 69 Table 2.6 The solvency of the VnEconomy Journal in the period of 2020 - 2021 .70 Table 2.7 Capital efficiency of VnEconomy Journal in the period of 2020 - 2021 .72 Table 2.8 Working capital turnover of VnEconomy Journal in the period of 2020 - 2021 74 Table 2.9 Profitability of business of VnEconomy Journal in the period of 2020-2021 76 vi LIST OF DIAGRAMS Diagram 2.1: Organization of management suites 11 Diagram 2.2: Organization of the accounting apparatus .13 vii PREFACE The urgency of the topic After 36 years of transition from a backward, poor economy to a socialist- oriented market economy - the period of revolution in industrialization, modernization and global integration, Vietnam's economy becomes more exciting than ever when the number of participating businesses or units of all economic sectors is increasing, the explosion of the capital market with many new models, speculators, brokers, etc securities or credit institutions are also very rich The ultimate goal that each business or unit aims at is to increase asset value as well as reach the highest profit To this well, managers of each unit need to know how to grasp the performance of their own units by reviewing and evaluating the results achieved each year Financial analysis is currently a very important work for all areas of economic and social life The fact that we conduct financial analysis will help managers of units or businesses better understand the efficiency of their business investment activities and can also clearly identify the nature and extent of risk of problems related to many different factors From there, it will assess the advantages, disadvantages as well as the prospects of the market and support the management board of the unit or business to make more informed decisions for the next investment directions of the company their units, economically and effectively use capital and all resources to improve the quality of financial management to promote production and business activities of the enterprise VnEconomy was born in the field of providing all information and propaganda work of the Party and State, combining real estate investment with its purposes The unit has also operated in the same industry for a long time and There is a lot of competition in the market Therefore, the study of the unit is very important to help the unit have long-term development strategies as well as managers will make many appropriate decisions to ensure increased revenue and value Stemming from the above reasons, I chose the topic "Analysis of the financial situation of VnEconomy" for my graduation thesis, with the desire to contribute my ideas to improve the quality of information, serving the management of the unit Research objectives General objectives - Analyze and evaluate the financial situation of the VnEconomy, thereby proposing solutions to improve the financial situation at the unit Specific objectives - Systematize theoretical issues of financial situation analysis at non-business units - Analysis of the current financial situation at the VnEconomy Thereby, evaluating the achieved results and limitations on the financial situation of the VnEcomony - From there, propose some solutions to improve the financial situation of VnEconomy in the next period Subjects and scope of study - Subject of study: Financial situation of non-business units - Scope of study: About content: Analyzing the financial situation for financial management at non-business units Space: VnEconomy Time: Analyze the current financial situation in the period of 2019 - 2021 and recommend solutions from 2022 onwards Research methodology