practical training report degree licence in accounting control audit tuyen quang agricultural and forestry materials

Therefore, I chose to practice at"Tuyen Quang Agricultural and Forestry Materials Joint Stock Company" TFCwith the desire to better understand the strengths and weaknesses along withunde

PRACTICAL TRAINING REPORT

Degree: Licence in Accounting - Control – Audit

School year: 2022-2025

Company/Bank: Tuyen Quang Agricultural and Forestry Materials Joint Stock Company

Hanoi, 2023

TABLE OF CONTENTS

LIST OF TABLES AND GRAPHS 1

PROLOGUE 3

A Reasons for training: 3

B Objectives of the episode: 3

C Scope of knowledge: 3

CONTENTS 3

A Learn about your business 3

I Overview 3

II Business activities 6

III Size and financial structure of the enterprise: 8

IV Personnel size of the enterprise: 8

V Business results of enterprises in 2022 8

B Learn about the market and development orientation of the business 9

C Student comments and recommendations on: 10

CONCLUDE 13

BIBLIOGRAPHY 14

BUSINESS CONFIRMATION 15

General Director (Chairman of the Board of Directors)

To

English

LIST OF TABLES AND GRAPHS

Figure 1: Company logo 4

Figure 2: Diagram of enterprise organizational structure 6

Figure 3: List of business lines of TFC 8

Figure 4: Japanese rice Japonica NPK pellets 8

Figure 5: SWOT model 12

A Reasons for training:

Entering the twenty-first century with many obstacles and challenges, Vietnam's economy in recent years has gradually recovered and developed rapidly Therefore, the business environment of enterprises is gradually expanded This both creates many opportunities to improve production and business, and can bring many risks and "obstacles" for companies in the process of development and stability

In order to minimize the dangers to businesses and stand firm in the "storm of industry integration", leaders need to recognize and pay deeper attention to capital, labor, technology and environmental factors, In addition, businesses need to draw out in detail each "step path" oriented to development

Agriculture currently acts as a pillar of Vietnam's economy, accounting for a large proportion in the overall economic structure Therefore, I chose to practice at

"Tuyen Quang Agricultural and Forestry Materials Joint Stock Company" (TFC) with the desire to better understand the strengths and weaknesses along with understanding the opportunities and risks to businesses in particular and agriculture

in Tuyen Quang province in general at present and in the future

B Objectives of the episode:

The objective of this topic is to understand, observe, analyze and evaluate the operation of the enterprise Besides, show the SWOT model of the company From there, propose solutions and recommendations for the company; Give the advantages and difficulties that businesses are facing

But I myself also have the opportunity to access the real environment, observe the work at the enterprise From there, I can maximize the knowledge learned in the lecture hall by applying it in practice

C Scope of knowledge:

- Training space: Tuyen Quang Agricultural and Forestry Materials Joint Stock Company

- Study period: get data for 2021-2022

A Learn about your business

I Overview

1 Generalization:

- Company name in Vietnamese: Tuyen Quang Agricultural and Forestry Materials Joint Stock Company

- Logo:

Source: TFC Administration Department

- Head office address: No 18, Luong Son Tuyet Street, Group 7, Tan Quang Ward, Tuyen Quang City, Tuyen Quang

- Phone: 0207 3822 662

- Gmail: tuyenquangtfc@gmail.com

- Tax code: 5000124639

- Charter capital: VND 5,600,000,000 (in words: five billion six hundred million VND)

- Business Type: Joint Stock Company

- Legal representative of the company: Mr Hoang Duc Hoang – General Director

of the company

- Number of Employees: 128

Firgue 1: Logo

2 The process of formation and development

- In 1992, from 3 small companies (including: seed company, material company, livestock company) Tuyen Quang agricultural and forestry material seed company was formed and managed by the People's Committee of Tuyen Quang province At that time the company was a state-owned enterprise

- 19/01/2009, Tuyen Quang Agricultural and Forestry Material Seed Company was equitized, becoming Tuyen Quang Agricultural and Forestry Material Seed Joint Stock Company

- Since being merged from 3 subsidiaries, Tuyen Quang Agricultural and Forestry Seed Company has always been the flagship in the campaign to innovate livestock and cultivation techniques in the province to suit the times

As a mountainous province, being out of poverty, then the agriculture and forestry industry was the spearhead of production and business of the majority

of people here Therefore, Tuyen Quang Agricultural and Forestry Seed Company, then a state-owned enterprise, always had to be ready to learn, explore and research new methods, techniques and seeds to help people improve productivity; contribute to hunger eradication and poverty reduction in the province

- Later, when equitized, the enterprise was still a reliable destination for the mountainous people of Tuyen TFC is confident to have a force of young, energetic and enthusiastic engineers and a team of skilled, enthusiastic and highly qualified and experienced staff The company always creates the best learning conditions and is trained to improve professional qualifications

3 Functions, tasks, organization and development plan

a) Function

Tuyen Quang Agricultural and Forestry Seed Joint Stock Company is one of the most prestigious and quality units in the North, especially in the northern mountainous region in the wholesale industry of plant varieties and trees In addition, this business also provides a variety of quality fertilizers and pesticides for farmers; Thereby solving many problems in the cultivation and breeding of cattle and elders in the province and surrounding areas TFC has the following specific functions:

- Supply of materials, plant varieties, fertilizers, pesticides

- Research, find new varieties, new scientific techniques to propagate to the people

General Director (Chairman of the Board of Directors)

To

English

Sales Manager Head of Accounting Departm Administrative and Human Resources Man

Executive Officer

Station Manager of Son Duong Station Manager of Yen Son Station Manager of Chiem Hoa Station Manager of Ham Yen Station Manager of Na Hang Stat Manage

- Advising and helping farmers which crops to plant depending on weather

conditions

- Devise and implement methods to help people access new technologies

b) Task:

- Tuyen Quang Agricultural and Forestry Materials Joint Stock Company has the

mission and mission to provide people, especially farmers, with new quality

products, with high productivity in cultivation Since then, products reaching

consumers daily are improved, improving the quality of life

- In addition, the officers and employees of the company also regularly visit to

survey and directly guide people on new farming methods From there, it is

possible to increase the closeness between buyers and sellers more closely and

intimately

- Not only that, TFC also has the noble task of helping farmers in remote areas

have the fastest access to science and technology in the agricultural industry so

that they do not lag behind society

c) Diagram of the organizational structure of the enterprise

Figure 2: Diagram of enterprise organizational structure

Source: TFC Human Resources Department

II Business activities

TFC is known as an enterprise specializing in providing goods related to the agriculture and forestry industry, especially agriculture

1 Trading and service business

a) Business Industry/Items

Tuyen Quang Agricultural and Forestry Material Seed Joint Stock Company is a multidisciplinary company, not only wholesale plant varieties but also trading in many other fields

1 Poultry farming

2 Sale of spare parts and auxiliary parts of automobiles and other motor vehicles

3 Pig breeding

4 Cultivation of medicinal plants

5 Forest tree nursery

6 The remaining professional, scientific and technological activities have not been classified

7 Production of animal feed, poultry and aquatic products

8 Wholesale of flowers and plants (Main business)

9 Wholesale of agricultural machinery, equipment and spare parts

10 Retail sales of other goods that have not been categorized anywhere in specialized stores

11 Wholesale of feed and feed ingredients for livestock, poultry and aquatic products

12 Multiplication and care of agricultural seedlings

13 Production of fertilizers and nitrogen compounds

14 Repair of machinery and equipment

15 Guesthouses, guesthouses operating short-stay services

16 Wholesale of paddy, corn and other grains

17 Wholesale of fertilizers, pesticides and other chemicals used in agriculture

18 Retail sale of vegetables and fruits in specialized stores

19 Wholesale of fruits and vegetables

20 Breeding buffaloes and cows

21 Freight transportation by other cars (except specialized cars)

22 Wholesale of live animals

8

Form 3: List of business lines of TFC

Source: TFC Sales Department

Some typical business items

Form 4: Japanese Rice Japonica NPK Pellets

Source: TFC Sales Department

b) The market of the business

Currently, TFC not only dominates the market in the province but also encroaches

on other provinces, especially the mountainous region of the Northwest Not only dominating many domestic markets, this enterprise also exports products to many other countries, namely China, Japan and Southeast Asian countries This is considered a great step forward in bringing Vietnamese agricultural and forestry products to the world

c) Main customers of the business

Because supplying materials, agricultural and forestry products are TFC's main business, their main customers are farmers In addition, other distributors from outside the province are also a familiar customer file of the company Not only that, foreign customers are also new customer files that businesses need to try to conquer These are two of those "gods" who can hardly please them and it took the company many years to be accepted by these two countries to import goods

d) Size and financial structure of the enterprise:

- Total capital: 29,400,000,000 VND (written in words: twenty-nine billion four hundred million Vietnam Dong)

General Director (Chairman of the Board of Directors)

- Equity: VND 5,600,000,000 (written in words: five billion six hundred million Vietnam Dong)

- Total capital:

Fixed: 5,200,000,000 VND (written in words: five billion two hundred million Vietnam Dong)

Mobile: 24,200,000,000 VND (written in words: twenty-four billion two hundred million Vietnam Dong)

e) Personnel size of the enterprise:

- Total number of employees: 128

+ Managerial labor: 5

+ Direct business employees: 6

- Labor classification by qualifications:

+ Master's degree: 14

+ University level: 84

+ College level: 12

+ Intermediate level: 10

f) Business results of enterprises in 2022

- Total revenue: 150,100,000,000 VND (written in words: one hundred fifty billion one hundred million Vietnam Dong)

- Total cost: 127,585,000,000 VND (written in words: one hundred twenty-seven billion five hundred eighty-five million Vietnam Dong)

- Gross profit: VND 52,535,000,000 (written in words: fifty-two billion five hundred thirty-five million Vietnam Dong)

- Profit before tax: 22,515,000,000 VND (written in words: twenty-two billion five hundred fifteen million Vietnam Dong)

- Profit after tax: VND 17,562,000,000 (written in words: seventeen billion five hundred and sixty-two million Vietnam Dong)

B Learn about the market and development orientation of the business

- Market situation: From the beginning of 2023 until now, Vietnam's agricultural industry has developed in the context of many difficulties The supply chain is

broken, the total supply and demand are affected Add to that the impact of interest rates, inflation, the war between Russia and Ukraine, climate change Organic agricultural production with the advantage of protecting people's health production and consumption, protecting the environment, making clean and quality agricultural products is becoming an inevitable trend and is considered an inevitable development direction of modern agriculture Along with many provinces and cities throughout the country, in recent years, Tuyen Quang province has been having mechanisms and solutions to promote organic agricultural production Therefore, Tuyen Quang Agricultural and Forestry Materials Joint Stock Company has contributed to the process of organization, bringing advantages to people in the province with many scientific research topics and projects implemented such as: "Application of scientific and technical advances in biosecure breeding methods (hybrid wild boars, Free-range chickens) in the closed value chain in Tuyen Quang province", Research

on restoration and conservation of red leaf Lei Potato tree and yellow flower Lim tree to develop tourism economy in 03 districts: Chiem Hoa, Na Hang and Lam Binh, Tuyen Quang province Therefore, the company's market is expanding, from the inner province to the northern mountainous neighborhoods, and is trusted and close by farmers

- Macroeconomic policies that affect the development of enterprises:

Fiscal policy:

In 2020, the Government has issued a letter reducing 30% of the payable corporate income tax amount of the 2020 corporate income tax calculation period in case the enterprise has a total revenue of not more than VND 200 billion in 2020 (including all sales proceeds, processing money, service provision including subsidies, etc surcharges and surcharges that enterprises are entitled to in accordance with the Law on Enterprise Income Tax and implementation guiding documents Especially

in early 2023, for fertilizers, Decree No 26 stipulates an export tax rate of 5% for phosphate and urea fertilizers Particularly for DAP fertilizer, NPK stipulates an export tax rate of 0% instead of stipulating a tax rate based on the ratio of mineral resources plus energy costs (51%), in order to reduce administrative procedures for customs authorities and enterprises

Monetary policy:

In early 2023, according to Mr Dao Minh Tu, Deputy Governor of the State Bank, the average deposit interest rate of commercial banks is currently 5.8% / year (down 0.7% compared to the end of 2022), the average lending interest rate is 8.9% / year (down 1% / year compared to the end of 2022) Liquidity of credit