LITERATURE REVIEW
Overview of revenues, expenses and business results
According to accounting standard No 14 “Revenue and other income”, the term revenue is understood as follows: “Revenue is the total value of economic benefits obtained by the enterprise in the accounting period, arising from activities ordinary production and business activities of the enterprise, contributing to the increase of owner's equity”.
1.1.1.2 Types of revenue and revenue deductions
Sales revenue: is the total amount of money the business receives and will receive from revenue-generating transactions and operations such as products, goods, and service provision for customers, including all surcharges and fees which are collected outside of sales hours.
Financial income: is the total value and economic benefits that an enterprise obtains in the accounting period related to financial activities Financial income mainly includes interests, royalties, dividends, distributed profits, income from securities investment and trading activities and other financial income of the enterprise.
Other revenue: is income generated from activities other than normal business activities of the enterprise such as collection, liquidation and sale of fixed assets,
Revenue deductions are amounts that reduce the total value of economic benefits earned by an enterprise in an accounting period, arising from the enterprise's normal production and business activities, including:
Sales discount: is the amount that the business offers to reduce the listed price to customers who buy in large quantities.
Sale allowance: is a deduction for buyers due to poor quality goods, wrong specifications or outdated tastes.
Sales return: is the value of the sales quantity that has been determined to be consumed, which is returned and refused to be paid by the customer.
Revenue from sales of merchandises is recognized when all of the following five conditions are simultaneously satisfied:
The enterprise has transferred substantially all the risks and rewards of ownership to the buyer.
The seller loses control over the goods sold.
The revenue can be measured reliably
The enterprise has obtained or will receive economic benefits from the sale transaction
Determining the costs associated with the sales transaction.
Revenue from services rendered is determined when all of the following four conditions are simultaneously satisfied:
The revenue can be measured reliably When the contract stipulates that the buyer is entitled to return the purchased service under specific conditions, the business is only recognized when those specific conditions no longer exist and the buyer is not entitled to return the service provided.
The enterprise has or will receive economic benefits from the transaction of service rendered.
Determining the quantity of the work completed at the time of reporting.
Determining the costs incurred for the transaction and the cost to complete the transaction of service rendered.
According to Vietnamese Accounting Standard No 01 (VAS01 – General Standard): “Expense is the total value of items that reduce economic benefits in an accounting period in the form of outlays and deductions from assets accounts or incurring liabilities resulting in a decrease in equity, excluding distributions to shareholders or owners”.
Based on the purposes and uses of costs, costs used to determine results in an enterprise include:
Costs of goods sold: are the costs of goods and services sold or performed in a period.
Selling expenses: include all expenses related to the consumption of products,goods, services and services in the period, costs of sales staff, costs of packaging materials, costs of tools and supplies, fixed asset depreciation, warranty expenses,etc.
General administration expenses: include all expenses incurred in general related to business administration and administrative management in the whole enterprise which cannot be separated for any activities such as staff expenses, office supply expenses, office equipment expenses, fixed asset depreciation, taxes, fees and charges, outside services, other expenses.
Financial expenses: are expenses for capital investment and business activities, including costs of losses related to securities trading activities, capital investment, expenses for foreign currency trading, etc.
Other expenses: are expenses arising from events or transactions that are different from the normal operation of the enterprise, including expenses for liquidation and sale of fixed assets, difference in value of liquidated or sold fixed assets, fines for breach of economic contracts, tax penalties, tax arrears, etc.
Income tax expenses: include current corporate income tax expense and deferred corporate income tax expense in the period.
Business result is the final result of the business's activities for a given period, which shows the monetary difference between the total revenue and the total cost of economic activities that have been performed If the revenue is greater than the cost, the business makes a profit, vice versa.
Method of determining business results:
The enterprise business results include ordinary results of operations and other results of operations:
Business results of the enterprise =
Ordinary results of the enterprise +
Other results of the enterprise
Ordinary results of the enterprise are the business result of the business' revenue- generating activities, including sales and financial activities.
The result of sales activities
= Net revenue of sales activities
In which: Net revenue from sales activities is calculated as total revenue from sales activities minus revenue deductions such as: sales allowances, sales discounts, sales returns.
The result of financial activities = Financial income - Financial expenses Other results of the enterprise = Other income - Other expenses
Other results of the enterprise are calculated as the difference between other income and other expenses.
Contents of accounting for revenues, expenses and business results
Account 5111 - Revenue from the sales of merchandises
Account 5113 - Revenue from services rendered
Account 5114 - Revenue from government grants
Account 5117 - Revenue from investment properties
VAT invoice, sales invoice, payment documents (Receipt note, cheque,…), economic contract, VAT declaration and other related documents
Sales details book, ledger of sales and service provision, public diary.
Structure and content of Acc 511
This account reflects the enterprise's revenue from selling goods and providing services in an accounting period of production and business activities of transactions
Revenue from the sale of finished goods, merchandises, investment real estate and service provision of the enterprise in the accounting period.
- Payable indirect taxes (Special consumption tax, export tax, nondeductible VAT)
- Transfer net revenue to the account 911 “Income summary”.
Chart of accounting for sales revenue
When generating sales revenue, the enterprise calculates VAT by the deduction method, the accountant shall record sales revenue according to the following accounting scheme:
Chart 1.1: Process of accounting for sales revenue
1.2.1.2 Accounting for financial activities income
Accounts used: Account 515 - Financial activities income
Source documents: Interest statement, bank credit note, bank statement, notice of receipt of dividends and documents related to the receipt of dividends, other relevant documents.
Accounting books: Public diary, account ledger 515, detailed book of Acc 5151 and Acc 5152
Chart of accounting for financial activities income:
Chart 1.2: Process of accounting for financial activities income
VAT invoice, sales invoice, other accounting documents…
Chart of accounting for other income
Chart 1.3: Process of accounting for other income
1.2.2.1 Accounting for costs of goods sold
Method of accounting for cost of goods sold:
The method of monitoring and reflecting regularly, continuously, and systematically the situation of goods in and out in accounting books Under the perpetual method,inventory accounts are used to reflect the current quantity, increase or decrease of goods Therefore, the value of inventories on accounting books can be determined at any time
The method is usually applied to businesses dealing in high-value items such as machinery, equipment, high-tech and high-quality goods.
This accounting method is based on actual inventory results to reflect the ending inventory value on general ledger and thereby calculate the cost of goods sold in the period.
The method is usually applied to businesses that have many types of goods and supplies with very different specifications and designs, low value, and frequently sold and exported goods and materials.
Accounts used: Account 632 - Costs of goods sold
Source documents: VAT invoice, sales invoice, goods delivery note, goods dispatch note, inventory records, …
Accounting books: List of vouchers of the same type, book-entry vouchers, register of book-entry vouchers, account ledger 632.
Chart of accounting for costs of goods sold:
Chart 1.4: Process of accounting for costs of goods sold
CStructure of content of Acc 632:
This account is used to reflect the cost of finished goods, merchandises, services, and real estate sold; production cost of construction products sold in the period In addition, this account is also used to reflect expenses related to investment real estate activities.
- Cost of goods sold and services during the period
- Other cost recorded to CoGS
- Reverse of provision for inventory at the end of fiscal year
- Cost of goods sold transferred to account 911 “Income summary”.
Accounts used: Account 641 - Selling expenses
Source documents: Payment slip, payment authorization, debit note, delivery bill, VAT invoice or sales invoice issued by supplier, table of salary distribution and deductions according to salary, table of depreciation of fixed assets and other relevant documents.
Accounting books: List of vouchers of the same type, book-entry vouchers, register of book-entry vouchers, account ledger 641
Chart of accounting for selling expenses:
Chart 1.5: Process of accounting for selling expenses
1.2.2.3 Accounting for general administration expenses
Accounts used: Account 642 - General administration expenses
Source documents: Payment slip, payment authorization, debit note, delivery bill, VAT invoice or sales invoice issued by supplier, table of salary distribution and deductions according to salary, table of depreciation of fixed assets and other relevant documents.
Accounts used: List of vouchers of the same type, book-entry vouchers,register of book-entry vouchers, account ledger 642
Chart 1.6: Process of accounting for general administration expenses
1.2.2.4 Accounting for financial activities expenses
Accounts used: Account 635 - Financial activities expenses
Source documents: Credit note, Debit note, receipt, payment slip, interest calculation table, loan interest calculation table, dividend payment voucher, other relevant documents.
Accounting books: List of vouchers of the same type, book-entry vouchers, register of book-entry vouchers, account ledger 635
Chart of accounting for financial activities expenses:
Chart 1.7: Process of accounting for financial activities expenses
Accounts used: Account 811 - Other expenses
Source documents: Receipts, payment slips, debit note, credit note, record of liquidation of fixed assets, VAT invoice or sales invoice, other relevant documents.
Accounting books: List of vouchers of the same type, book-entry vouchers, register of book-entry vouchers, account ledger 811
Chart of accounting for other expenses:
Chapter 1.8: Process of accounting for other expenses
1.2.2.6 Accounting for income tax expense
Accounts used: Account 821 - Income tax expense
Source documents: Quarterly CIT provisional declaration, annual income tax finalization declaration, other relevant documents
Accounting books: List of vouchers of the same type, book-entry vouchers, register of book-entry vouchers, account ledger 821
Chart of accounting for income tax expense
Chart 1.9: Process of accounting for income tax expense
THE STUDY
General overview about Madoka Joint Stock Company
2.1.1 History and development of Madoka Joint Stock Company
Full company name : Madoka Joint Stock Company
Abbreviated company name : MADOKA., JSC
Legal representative : Vu Quang Lam
Registrant place of management : Tax Department of Ba Dinh District
Address : 14 Kim Ma Thuong, Cong Vi Ward, Ba
Dinh District, Hanoi Charter capital : 5,000,000,000 VND
Type of business : Non-state joint stock company
Madoka Joint Stock Company, which fully meets the conditions for business registration in accordance with the provisions of current law, has been granted a business registration license by the Hanoi Department of Planning and Investment with the tax code of 0107917776 The company operates in the main fields such as construction works; installation of electricity, water supply and drainage systems; short-time accommodation; Wholesale of electronic, telecommunication equipments, components
Since its establishment, the company has continuously improved in terms of organization and quality of goods With a team of skilled, educated and highly qualified staff, the Company aims to become a reputable enterprise in Vietnam and in the area.
- Investment, construction and development of housing in urban residential areas, industrial parks
- Construction of civil and industrial works
- Producing concrete and other products from cement.
- Wholesale of materials and other installation equipment in construction
2.1.2 Organization of the corporation’s management system
Madoka Joint Stock Company organizes the management apparatus according to the model of an online and functional structure With this model, the company can ensure orders from the leadership throughout to all corporate governance decisions.
Organizational form of the management apparatus
Chart 2.1: Organizational structure of the management apparatus
Management structure of the company:
CEO is the person who runs the daily production and business activities of the Company and takes full responsibility for the implementation of rights and obligations as prescribed by law.
Accounting department: reflects to the Director all economic activities throughout position in the administration of economic management, economic information in the field of business, and other services Directly serving the company's leaders to run and direct the business.
Business department: finds customer sources, order information, transaction money between orders Organizing and conducting market research, finding new sources of customers, market and promote the Company's brand, building programs from content to price in accordance with customer needs, maintain relationships contact customer sources Ensuring communication activities between the company and customer sources.
Administrative department: has the function of advising the company's leaders in organizing the construction of the company's management apparatus, planning the use of the annual salary fund, and dealing with the internal affairs of the enterprise.
Design consulting department: advises the company's leaders on the company's designs, ensuring the technical and quality elements of the works that the company participates in Searching for a design unit suitable to the requirements of the Company to ensure the technical requirements of the project.
Technical deparment: resolves and makes decisions related to the company's technical problems Inspecting works and subcontractors in projects and works that the company participates in to ensure the quality of works and projects of the company.
Organization of the corporation’s accounting system
Chart 2.2: Organization of the accounting department at Madoka Joint Stock Company
The function and responsibilities of each accountant are as follows:
Chief Accountant: The chief accountant is the general accountant who helps the director direct all accounting work and grasp the financial accounting information of the business Managing and assigning specific functions and tasks to each employee The chief accountant has the right to attend meetings of the company to discuss and provide information for decision making on revenue and expenditure issues, business plans, etc.
Material accountant: The organization of the voucher system needs to comply with the regulations on the form of the Ministry of Finance, the time of making, the order of rotation, preservation and storage of documents Furthermore, making a warehouse receipt when goods are imported or exported into a detailed inventory tracking book for each item in stock.
Payment accountant: tracking the purchase and sale of goods at the company.
Following up the company's payment situation with suppliers and customers. Paying debts on time.
Treasurer: The person who holds the company's monetary source, has the role of regularly monitoring the arising revenues and expenses Managing receipts and payments, making records in the cash book Daily checking and comparing the cash book with the accounting book.
Analysis of accounting for revenue, expense and business result
2.2.1 Accounting for revenue at the company
2.2.1.1 Accounting for sales revenue at the company
Account 3331 – Value added tax (VAT)
Chart 2.3: The process of accounting for sales revenues at the company
On November 19, 2022, Madoka Joint Stock Company sold to SAB Industrial Co., Ltd 10 concrete mixers with price 2.150.000/each, 5 iron cutters with price 3.620.000/each, 7 concrete compactors with price 3.500.000/each, and 8 grouting machines with price 3.862.000/each Customers pay by bank transfer
When having sales operations, sales accountants write and issue VAT invoices.
After issuing the VAT invoice, the accountant transfers the invoice to the warehouse department The warehouse department reviews and writes the delivery note After filling in all the information, the person making the form signs it, then transfers it to the chief accountant for approval, then delivers the slip to the recipient to go to the warehouse to pick up the goods.
Table 2.2: Warehouse export note number XK00021
2.2.1.2 Accounting for financial activities income at the company
Financial activities income is the revenue earned from interest on bank deposits
Chart 2.4: The process of accounting for financial activities income at the company
Financial reportCredit note, debit note…
On December 25, 2022, the Company received a credit note from the Joint Stock Commercial Bank for Foreign Trade of the interest from bank deposits, amounting to VND 212,300.
2.2.1.3 Accounting for other income at the company
Other income of the company includes:
- Income from sale, liquidation of fixed assets, tools
- Taxes are deferred by the state budget
- Collect fines from customers for breach of contract, etc.
In the fourth quarter of 2022, the enterprise didn’t have any arising transactions related to other incomes
2.2.2 Accounting for expense at the company
2.2.2.1 Accounting for costs of goods sold at the company
Acc 632 - Costs of goods sold
Chart 2.5: The process of accounting for costs of good sold at the company
According to the example illustrated in section 2.3.1.1:
On November 19, 2022, Madoka Joint Stock Company sold to SAB Industrial Co., Ltd 10 concrete mixers with price 2.150.000/each, 5 iron cutters with price 3.620.000/each, 7 concrete compactors with price 3.500.000/each, and 8 grouting machines with price 3.862.000/each Customers pay by bank transfer.
The company is currently applying the method of calculating the average inventory value for the whole period of reserve Under this method, cost of goods is easily calculated and recognized only once at the end of each month.
Financial reportWarehouse export note
2.2.2.2 Accounting for general administration expenses at the company
The company's general administration expenses include the following: staff expenses, tools, instruments, fixed asset deprecation, outside services and other expenses
Chart 2.6: The process of accounting for general administration expenses at the company
Financial reportVAT invoice, payment voucher…
On December 15, 2022, the company paid the phone bill for November 2022 to the telecommunications service company with the amount of VND 1,527,000.
Table 2.8: Payment voucher number PC00220
2.2.2.3 Accounting for financial activities expenses at the company
Fiancial activities expense is an account that reflects financial activity expense accounts, including expenses and losses related to financial activities, borrowing and lending costs, losses incurred when selling foreign currencies, etc.
According to the example of section 2.3.1.2:
On December 25, 2022, the Company received a credit note from the Joint Stock Commercial Bank for Foreign Trade of the interest from bank deposits, amounting to VND 212,300.
2.2.2.4 Accounting for other expense at the company
Other expenses of the company include: Cost of selling, liquidating fixed assets, tools and expenses for compensation, penalties for breach of contract, tax penalties
In the fourth quarter of 2022, the enterprise didn’t have any arising transactions related to other expenses
2.2.3 Accounting for business results at the company
Acc 421 - Undistributed profit after tax
Chart 2.7: The process of accounting for business results at the company
Determine the business results of Madoka JSC in the fourth quarter of 2022
The determination of the enterprise’s business results is carried out in the following order:
Transfering the net sales of goods sold externally or internally during the period to determine business results.
Transfering the cost of products, goods and services sold in the period, selling expenses, administrative expenses, financial expenses and other expenses incurred in the period to determine the business results
The results of business activities and the profit before tax of the joint venture in the period are recorded as follows:
RECOMMENDATIONS
Development orientation of Madoka Joint Stock Company in 2024 – 2029 period
The management of Madoka Joint Stock Company has formed a strategic vision for the business:
The company is gradually realizing its goal of becoming one of the most respected construction companies in Vietnam in the country.
Gaining the trust of customers and business partners is an important factor contributing to the success of the company.
The company not only brings good things to customers but also creates many opportunities for success for its employees Every employee can be proud to work at the company. b) Vision
Madoka’s mission is to provide the best construction solutions and services that meet the expectations of our customers, helping them achieve their long-term business strategy goals.
Madoka evaluates success based on the success of customers and related partners.That success is necessarily based on factors of high quality (services with international standards), safety at the construction site, reasonable prices and
During this age of economic reform, Madoka Joint Stock Company has achieved ideal conditions to grow and expand its sales and supply activities of construction and investment products in Vietnam Aside from the benefits, Madoka Joint Stock Company must contend with severe competition as the world economy in general, and Vietnam in particular, accelerates As a result, the company is under constant pressure to increase its market competitiveness In order to continuously increase competitiveness and incorporate regional and global development trends, Madoka Joint Stock Company has concentrated on establishing the company's development strategy in the next term, focusing on the following key points:
To begin, designing a plan to discover sources of goods to ensure that there is always supply when the market requires it, as well as a plan to find output for products to avoid having too much stock in the warehouse.
Second, recognizing the work of developing, training, and fostering a contingency of employees who are competent of managing, have professional and professional qualifications, can undertake and solve a variety of duties, and have legal knowledge and comprehension of the law are also essential jobs in successfully implementing the company's overall business plan.
Developing Madoka Company into a prominent provider of construction services.
Offering the best possible service to consumers and suppliers.
Encouraging brand development, expanding market share, and increasing profits.
Solutions to complete the accounting for revenue, expense and business
3.2.1 Completing accounting documents and books
Completing vouchers and rotating vouchers
Organizing and completing accounting vouchers is an important and decisive step to accounting information Therefore, it is necessary to build a simple and clear voucher system, in accordance with the provisions of the accounting regime, besides, the criteria reflected in the vouchers must reflect the internal management requirements Stipulate the order of circulation of documents in a reasonable and scientific manner, avoiding overlap and stagnation All accounting vouchers made from within the unit or from external units must be concentrated in the accounting department and only after checking and verifying the legality of the vouchers can they be used to record the accounting books.
In order to ensure that the management of financial documents and records is accurate and convenient when it is necessary to obtain information for inspection and examination to capture the results, the first job is to arrange arrange all accounting vouchers in a scientific and orderly manner, numbering, symbols, logical lists according to each item, each array of work that the accountant has performed, and then close it into a file according to the list system, the table of contents is clear.
+ The receipts and should only be kept separately, the receipts and payments must be numbered according to the date the expenses are incurred and put on the top and then clamp the invoices and other documents related to the expenses below. Invoices are paid in cash along with the payment slip If paying by bank deposit, it must be accompanied by a payment order arranged in order of payment slips and should be sorted by month.
+ Types of documents should be ordered separately for each type.
+ Separating the application form, warehouse receipt note, warehouse export note,
In general, the corporation has applied to its own conditions the system of accounting vouchers issued in the required accounting regime However, for goods that have not yet arrived at the warehouse, the corporation creates warehouse receipt note and accounts in the same manner as for goods that have already been warehoused As a result, emergent economic transactions are not accurately recorded For the reasons stated above, do not utilize the warehouse receipt note for accounting work on commodities in transit to avoid inaccurate accounting on the accounting books.
When purchasing items for warehousing, businesses keep more goods inspection records in order to manage purchased goods more effectively, accurately, and conveniently for accounting checks.
Here is an example of the document:
The documents used in the circulation process also have flaws, such as inaccuracies in the signing sequence or the omission of signatures from responsible parties, and they must be filled out completely data such as voucher date, book entry date, to ensure that vouchers and accounting books are complete and valid The corporation should pay greater attention to ensuring the accuracy and impartiality of economic operations, which is beneficial to management.
Economic transactions occur more or less often depending on the time of the time of document rotation so that accounting may be done swiftly, timely, and precisely.
Regarding the accounting book system used: Failure to open the special journal is a shortcoming of the enterprise This is due to that through the opening of a special journal, the company's accountants can manage it better and it is also convenient for accounting checks In principle, all arising economic and financial transactions must be recorded in the general journal However, in case one or several accounting objects have a large number of transactions, in order to reduce and reduce the volume of Ledger recording, the enterprise may open special journal books to record separate transactions related to those accounting objects Therefore, it is necessary for the company to open special journal books such as: Sales journal, purchase diary, cash receipts journal, cash payment journal When organizing the above special diary books, the enterprise can easily monitor and make business decisions as well as adjust capital for business activities in the fastest way with high efficiency.
Here are some examples of documents:
With the expenses of business administration, the company needs to fully build up the expenses, to reduce costs and lower the cost of services, increase profits for the Company, encourage officials and workers to employees successfully complete their assigned tasks with a spending level, have a complete internal spending regulation Because of the strict management, the economical use of funds is for the right purposes and effectively With the spending norms already in the internal spending regulations, the company should improve the spending regulations in order to control expenditures most effectively.
The development of internal spending regulations should ensure compliance with the law on taxes (CIT, VAT, PIT, invoice regulations ), accounting standards, accounting regimes, industry-specific legal regulations as well as other relevant legal regulations (such as Enterprise Law, Labor Code, Insurance Law )
Expenses should have specific internal regulations such as: business trip expenses, expenses for using communications, expenses for stationery equipment and regular professional expenses
To detail and pay more attention to the account system for internal use, for different types of expense accounts, specific details are needed for each department in the company.
Currently, the purchasing department, together with the warehouse keeper and the technical department, inspects purchased goods However, the company should let an independent department with the purchasing department check the specifications and quality of purchased goods and conduct import and export receipts Thus, the work will be assigned more clearly, reducing errors and frauds Furthermore, the serve the business Thus, the instituition will avoid shortage of goods or stagnation of capital, helping the company to be more proactive in its activities.
For businesses with an accounting department in the same location as the company, the following steps can be taken to combine detailed accounting of items with accounting of goods in the warehouse:
The storekeeper notes the quantity and amount on the inventory card, while the accountant checks the records on the warehouse cards, the goods cards, and the signature on the warehouse cards At the end of the accounting period, the inventory cards are delivered to the accountant for preservation and storage as a detailed ledger As a result, the accountant's time and effort will be saved because the comprehensive bookkeeping will not be duplicated.
Here are some examples of card stock:
It is necessary to develop a payment discount policy when customers pay for goods early Up to now, the company has not incurred payment discounts for customers. Especially in today's market economy, business activities with outsiders are very complicated Therefore, the Board of Directors must outline highly feasible long- term strategies to speed up the payment process, attract more customers, expand consumption markets, and increase capital turnover.
+ For regular customers of the company, payment discounts can be made within 20 to 30 days
+ For irregular customers, the company can discount payment within 10 days.
+ The payment discount is deducted at the rate of 2% of the total payment price
Equip more office equipment and supplies
More office equipment and supplies should be purchased in order to improve the overall effectiveness of the company's management and accounting operations in particular Although the corporation has provided computers for accounting work, the number of machines is still quite low Employees must bring their own personal computers to work; nevertheless, bringing their computers home does not guarantee the security of company information and data To achieve effective accounting, the corporation should purchase more computers so that each accounting unit has its own computer, preventing computer duplication To achieve the greatest efficiency in work, there should be a new accounting reform, as well as investment in
In addition to using information technology to accounting, businesses must invest in training accounting staff so that they can utilize the website efficiently Accounting equipment and software, assuring optimal application, reducing time and enhancing accuracy for enterprise accounting tasks Regularly attend training, update accounting expertise, and establish training within the organization The chief accountant should discuss and exchange work with accountants, and should listen to accept feedback.
When establishing an internal reporting system, businesses must guarantee the following requirements: the indicators indicated in internal reports must be compatible with those in financial statements, as well as planned and expected targets Based on the method of computation to ensure comparability; give adequate information for company business administration; data of key indicators displayed in internal reports must be consistent, complete, accurate, and genuine The form is designed in accordance with the business's management requirements, and it is straightforward and easy for users to use these internal reports.
Conditions for implementing solutions to improve revenue, expense and
To perfect the accounting for revenue, expense and business result determination at the company, it is not only the efforts of one side, but also the cooperation between the company and the government.
Besides the company’s solutions represent above, the government also specific activities to help the institutions reach their targets, including:
Firstly, building a clear and complete legal system, creating conditions for businesses in general and service companies in particular to operate easily and effectively in accordance with the legal corridor.
Secondly, there are preferential tax policies, especially for efficient business enterprises, which well fulfill their obligations to the State.
Last but not least, the governmet need to build policies to simplify cumbersome and unnecessary administrative procedures to help businesses easily access preferential policies of the State.
In conclusion, Chapter 3 shows that Accounting for revenue, expense and business result determination at Madoka Joint Stock Company has certain advantages and limitations Therefore, in order to improve the business situation, the application of complete solutions to the accounting for revenue, expense and business result determination is necessary and remarkable The above are some solutions that I researched and suggested, due to my limited knowledge and experience, there are inevitable shortcomings, so I look forward to receiving the comments of the teachers in this study.
Further improving the accounting for for revenues, expenses and business results is one of the essential requirements in the current market economic conditions. However, the creative application of accounting books to suit the actual conditions of the company must ensure that it does not exceed the allowable limits of the current accounting regime while creating favorable conditions for the company and meeting its requirements of the instituition as well as inspection needs when required by the authorities During the internship at Madoka Joint Stock Company, I was assisted by Pham Thi Nhung and the employees of the Company's Accounting Department I have tried to learn the actual essence of the Company, creating conditions to strengthen my knowledge and professional qualifications. Simultaneously conduct the topic "Solution to improve the efficiency of accounting for revenues, expenses and business results at Madoka Joint Stock Company " Due to my own qualifications and not much practice time, so that my graduation is inevitable, I hope to receive the attention and help of teachers, suggestions for the students to graduate I sincerely thank you!
1 Vietnamese Accounting Standards System (issued and announced under Decision
No 149/2001/QD – BTC dated December 31, 2001 of the Minister of Finance).
2 Circular 200/2012/TT-BTC issued on December 22, 2014 of the Ministry of Finance.
3 Circular 133/2016/TT-BTC issued on August 26, 2016 of the Ministry of Finance.
4 Textbook "Financial Accounting" (2013), Academy of Finance main.
5 Some final thesis of the courses prior.
6 Some documents of MADOKA JOINT STOCK COMPANY.
Supervisor: MA Phan Thi Xuan
Student: Pham Thi Huong Mai
Topic: “Solution to improve the efficiency of accounting for revenues, expenses and business results at Madoka Joint Stock Company”