Tourism Project Management Accounting And Financial Outsourcing Services.pdf

TOURISM PROJECT MANAGEMENTACCOUNTING AND FINANCIAL OUTSOURCING SERVICES Project owner: First Trust ACPAProject manager: Le Thu HangProject time: 18/10/2018 - 18/01/2019Teacher: Ms... Th

TOURISM PROJECT MANAGEMENT

ACCOUNTING AND FINANCIAL OUTSOURCING SERVICES

Project owner: First Trust ACPAProject manager: Le Thu HangProject time: 18/10/2018 - 18/01/2019Teacher: Ms Nguyen Thao AnhClass: Tutorial 2 - Group 4 Group members:

Le Thu Anh ID: 2006090005 Nguyen Phuong Anh ID: 2006090007 Nguyen Thi Hong ID: 2006090055 Pham Minh Ngoc ID: 2006090040

Do Ngoc Yen Yen ID: 2006090113

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4 Gantt Chart 2

8 Communication Plan 12

9 Risk Register 14

Part 2: Project Implementation 15

1 Tracking Gantt Chart 15

2 Cost Schedule 20

Part 3 Project Closure 22

1 Closure Process 22

2 Project Process Review Questionnaires 23

Part 4 Lesson Learned 24

Part 1: Rate the precision of the assignment report content 26

Part 2: Other comments and manager signature 27

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providing our services to foreign organizations from Asia Pacific Region such as Singapore, HongKong, Indonesia, etc.

Finance and Accounting Outsourcing Service for Company X is Director of Le Thu Hang Thisproject lasts from October 18, 2018 to February 1, 2019 with the goal of being one of thepackage solutions, supporting all work related to accounting, tax, legal, helping businesses planand complete all operations related to accounting, tax reporting in accordance with regulationsand requirements of the State, handle other related issues quickly, saving time and costs

This project will demonstrate the process of performing tasks to complete the accountingsupport project for company X Furthermore, an analysis of the good and bad things thathappened in the project is also developed in-depth to reduce the risk of making any mistakes infuture projects

II MAIN CONTENT

Part 1: Project Planning

1 Project Goal & Strategic Alignment

Financial Outsourcing service is a strong point of ACPA company, and for a business to succeed,financial planning and accounting should consider a wide range of factors Therefore, ACPAcompany implemented this project for the purpose of providing professional quality service incalculating inventory costs for a partner company Following that, this project also helpedbusinesses can take awareness of their financial goals which are in order to manage theirmoney and track their progress properly To meet this aim, ACPA company created more valuefor their partner by delivering high-quality professional services, ranging from fundadministration, traditional accounting services… ACPA was also inspired to create a modern andprofessional working environment where the staff can work, share and develop together

Regarding alignment between project goal and organization strategy, through the financialreport, the project assisted companies in forecasting and analyzing financial strategies,evaluating the performance of the business, ensuring statutory compliance, creating a budgetand future projections, filing financial statements, and creating a training professionalenvironment for employees

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upgraded 3 draft versions following the discussion and recommendation from customers tohave the final product The next planning was operating and transferring services to customers,and the final was duration for trial time and operating service in a partner company There werethree milestones in this project including the Fieldwork occuring on the 31st of October and the1st of November, the day releasing the first draft on 30th November, and the last milestone wascompleting the final version.

3 Project Priority Matrix

4 Gantt Chart

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5 Resource Sheet

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6 Task Usage View

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7 Responsibility Matrix

Tasks PhuongThu HangLe MaiHa ThaoTran ThaiVan TranHue HangTran

2 Review inventory and costing system as well as financial system

2.1 Accounting and financial outsourcing services

accountant on detailed

manufacturing process

2.2.3.1.2 Observe, enquire and

2.2.3.1.3 Interview the current

costing steps, collect all

documents related to the

costing method

2.2.3.1.4 Investigate the costing

2.2.3.2 Analysis & Findings

2.2.3.2.1 Collect all the

2.2.3.2.2 Calculate the costing

2.2.3.2.3 Identify the main

2.2.3.2.4 Create 2 appropriate

2.3 Transfer product for project's personnel

2.3.2 Meeting client to present

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members have background knowledge and expertise in the accounting industry Significantly,the project's top manager - Ms Mai Ha, is the deputy director of FT ACPA with more than 20years of experience.

3.2 Team Management

Team members will be divided into 2 subgroups in order: Inventory & Costing and Reportingsystem Each group will have a Line manager assigning tasks to each individual based on theirstrengths Roles are balanced and shared to facilitate both the accomplishment of tasks andfeelings of group cohesion and morale In order not to delay the process, all members weregiven a deadline to complete their work No excuses were accepted Every week, there was ameeting so each team leader could inform the whole project team about their progress

The Inventory & Costing team will be responsible for finding out information through thedocuments provided by the customer and adding the necessary documents to perform the task.After having enough information, the team will review the customer company's calculationmethod to find out the existing problem in the customer's inventory cost method, then developthe appropriate system to calculate inventory cost based on the given information from theproject After developing the appropriate method, the team will have to transfer and train theProject's personnel and keep supporting, reviewing, and updating adequately during the projectoperation

The Reporting system team will be responsible for reviewing accounting financial statements/documentation for one (01) month to ensure compliance with Vietnamese accountingstandards, Vietnamese accounting system, company policies and other regulations The groupwill then provide adjustment entries (if necessary) and recommend the appropriate recordingmethod based on the provided accounting book After providing the adjustment, the team willmap the accounting report with the management report as the Project's requirement

After they finish all of these tasks, they will together support the customer in running theproposed system to make sure that the new method works smoothly, and nothing goes wrong.They also have to train on the job for the assigned staff to help them understand the newmethod and have the ability to apply it On the other hand, they have to update and review theadequate procedure/ workflow continuously

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conflict comes up, the team members are given opportunities to initially work things out whenthere is a disagreement before the line manager has to take action If they were still unable tocome to a consensus, the top management would then make the choice and all the other teammembers would be required to accept it The members were required to accept the decisionsbecause this was an arbitration If not, they would be kicked out of the project and replaced byother employees Fortunately, nobody was kicked out.

Members missed the due date of their tasks

Due to their high level of specialization, it is inevitable that the project's members mayoccasionally be required to work on other projects This makes it challenging for them to finishtheir jobs on time because they are overworked Members of the team will inevitably bepreoccupied with unforeseen personal tasks that impede the development of their work As aresult, the project manager in this instance must distribute jobs flexibly to accommodateadequate labor resources for a task to be finished on time

Part 3 Project Closure

1 Closure Process

Team

1 Has a schedule for reducing project staff been

2 Has staff been released or notified of new

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7 Has the customer signed-off the delivered product? Yes

8 Has an in-depth project review and evaluation

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Have the users been interviewed to assess their

satisfaction with deliverables? With the project

team? With vendors? With training? With support?

With maintenance?

Yes

Equipment and facilities

10 Have project resources been transferred to otherprojects? No

11 Have rental or lease equipment agreements been

12 Has the date for the closure review been set andstakeholders notified? YesAttach comments or links on any tasks you feel need explanation

2 Project Process Review Questionnaires

1 Were the project objectives and strategic intent of Yes

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5 Were people with the right skill sets assigned to thisprojects? assigned the right tasksappropriate to their

functions

6 Were time estimates reasonable and achievable? Yes

7 Were the risks for the project appropriatelyidentified and assessed before the project started? Yes

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Were the processes and practices appropriate for

this type of project? Should projects of similar size

and type use these systems? Why/why not?

Yes because the projectactivities were relativelyrelevant and appropriatewithin the scope, frameworkand objective

9 Were communication methods appropriate andadequate among all stakeholders? Explain.

Yes because thecommunication plan ensuresthat all stakeholders areaware of project informationand changes

10 Is the customer satisfied with the project product? Yes

11 Are the customers using the project deliverables as

12 Were the project objectives met? The project objectives weresuccessfully achieved.

13 Are the stakeholders satisfied their strategic intentshave been met? Yes

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Has the customers or sponsor accepted a formal

statement that the terms of project charter and

scope have been met?

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side and the side could be done better

In terms of the good side, this project “Accounting And Financial Outsourcing Services”,generally, was done successfully Firstly, the project was well accomplished, successfullyproviding professional quality service in calculating inventory costs for a partner company.Specifically, by providing high-quality professional services ranging from fund administration totraditional accounting services, the ACPA company had added more value to their partner.Secondly, this project also helped the businesses to become aware of their financial objectives,which are necessary for proper money management and progress monitoring Last but notleast, The ACPA company was also motivated to build a contemporary and formal workplacewhere the personnel could collaborate, share ideas, and develop as a team By another word,this project had established a professional training environment for employees

On the other hand, there were still some drawbacks that the management team may take intoaccount and learn from ACPA company's accountant was unclear about some of the items onthe reporting packages and its linkage The current reporting package format did not appear tomatch the standard reporting package samples provided by Japan Headquarter Therefore, wehad some solutions to solve this problem, that the manager should standardize the reportingpackages from the headquarters and create a guideline for StarVina accountants to follow andexplain all of the account items that ACPA company's accountant is not fully aware of andunderstands, and prepare in response to Japan's request

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5 = excellent, 4 = good, 3 = average, 2 = below average, 1 = poor

Criteria evaluated

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8 Risk Register/ Management 5

Part 2: Other comments and manager signature

Firstly, the project achieved good results and closely followed the project's initial goals thanks tothe efforts of all organization members, the support of First Trust ACPA, and Ms Mai Ha - thedeputy director with more than 20 years of experience During the project's evaluation process,the partner company's side provided positive feedback to the project's program, specifically toensure the project's correct time and cost However, there were still issues that arose during theproject, such as a lack of knowledge about the software that the customer uses Fortunately,some these problems have been immediately corrected, and the project could continue Theseare valuable lessons that will help us perform better in future projects

Signature of project manager:

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