Bachelor Thesis Accounting Topic Accounting For Revenue And Other Income In Tc Technical Equipment Joint Stock Company.pdf

NATIONAL ECONOMICS UNIVERSITY School of accounting and auditing BACHELOR THESIS ACCOUNTING Topic: ACCOUNTING FOR REVENUE AND OTHER INCOME IN TC TECHNICAL EQUIPMENT JOINT STOCK COMPANY

NATIONAL ECONOMICS UNIVERSITY

School of accounting and auditing

BACHELOR THESIS

ACCOUNTING Topic:

ACCOUNTING FOR REVENUE AND OTHER INCOME IN TC TECHNICAL EQUIPMENT JOINT STOCK COMPANY

Full name : Dao Thi Hang Class : CFAB 1 Student code : 11171409 Lecturer : Dr Nguyen Ha Linh

HANOI - 2021

STATUTORY DECLARATION

Therewith formally declare that I myself have written the submitted Bachelor Thesis independently I did not use any outside support except for the quoted literature and other sources mentioned at the end of this paper

I clearly marked and separately listed all the literature and all other resources which I employed producing this academic work, either literally or in content

Hanoi, 15/6/2021 Dao Thi Hang

TABLE OF CONTENT

MANAGEMENT OF REVENUE ACCOUNTING IN TC TECHNICAL

1.1 Characteristics of revenue accounting in TC Technical Equipment Joint

2 CHAPTER II RELIATY OF ACCOUNTING FOR REVENUE IN TC

2.1 Revenue from sales & service provision acCOunfÏng .««« 8 2.1.1 Accounting vouchers and procedures cee eect eeeeeeees 8 2.1.2 Detail accounting for revenue from sales and service provision 12 2.1.3 General accounting for revenue from sales & service provision 33

2.2.1 Accounting vouchers and procedUures - -+-c+« se 36

2.3.1 Accounting vouchers and procedUures - -+- se xsseseeeeexee 38 2.3.2 Detailed accounting for financial income . -« «++ 40 2.3.3 General accounfing for financial Income . «x-ec+c~ss 42

2.4.1 Accounting vouchers and procedUT€§ ++-c++sccxseesseeexes 44 2.4.2 Detail accounting for other InCOIe eee eee 45 2.4.3 General accounting for other 1ncorme +- «+ s++s+se+se++ 48

ACCOUNTING IN TC ENGINEERING JOINT STOCK COMPANY 50

3.1 General assessment about revenue accounting in TC Engineering

“Anh na 50

3.1.2 Limitation na 52

3.1.3 The principle of improving revenue accounfing 33

3.1.4 SUggeStTIONS nha 54

CONCLUSION 57 REFERENCES 58

APPENDIAX cscecccecscscsssscsescsccrscsccscscseseseeeccsesessceeesssesscesess 63

Table 2.12: Credit Note Q Q 0S HS HS 10110211121 01 1111011 1H ng re, 23 Table 2.13: VATT Inyoice (Service Proyision) 22c Scecccceccc 24 Table 2.14: Credit Note - - Q Q Q1 nH* n9 S1 1H01 0211111101 g1 H11 net 25 (CV Ho 0 i1 26 Table 2.16: Confirmation öoŸ wor - - À1 + 1x 1S 1111151181181 1x xe 27 Table 2.17: VATT Inyoice (Service Provyision) Ặ 2c cecccc.ccc 28

IV UP L0 i0 44 29 Table 2.19: Table oŸ summary revenue from product supply and service D2): 0117 5 29 Table 2.20: Detailed book 511 — Neubular Construction., JSC 30 Table 2.21: Detailed book 511 — TBS Group 2< -<cc<ccs<e<es 31 Table 2.22: Detailed book 511 — Relia Vietnam., JSC - 32 Table 2.23: General Journal - - - - - Ă S211 *21 111221111111 111 1 1111 nHư 33 Table 2.24: General LLedB€r - S5 S11 HH HH ng ni, 35

LIST OF ABBREVIATIONS

1 | TC Engineering., JSC | TC Engineering Equipment Joint Stock Company

INTRODUCTION

In a fiercely competitive market, super-smart economy where new technologies, big data, robots are manufactured and innovated every day To survive, it is necessary to constantly innovate and develop better, especially the management of business activities to ensure timely and prompt response to the needs of customers One of the aspects that prove the effective business performance of an entity is the sales of products/services Revenue plays an important role in business operations of enterprises Therefore, accounting for revenue is always the concern of most commercial enterprises in the economy The goal of the business is profit and to get high profits, the revenue must

be optimized The higher the revenue, the lower the cost is the ideal target that every businesses desire to achieve If managers aim to follow the purpose, first of all, the accountants must quickly accurately reflect the revenue and ensure that the accounting work is not only quick in time but also simple in the process of implementation, tracking and managing so that the managers easily rely on useful financial and accounting information to make the most accurate and correct decisions Therefore, during the internship period with the enthusiastic guidance of Lecturer Dr Nguyen Ha Linh and others members in the accounting department of TC Engineering Equipment Joint Stock Company, I decide to research into the topic: “Accounting for revenue and other income in TC Engineering Equipment Joint Stock Company”

Through researching this topic, it can help us more understand the activities of the business, evaluate the efficiency of selling process of the business Consider the implementation of the accounting system in general, the revenue accounting in particular in the enterprise, and compare with the knowledge obtained in school Thereby, it is possible to find out the advantages and disadvantages of that accounting system, giving some measures to improve and enhance the revenue accounting organization at TC Engineering., JSC

The thesis encompasses 3 chapters (Excluding the Introduction & Conclusion)

CHAPTER I: Characteristics and organization management of revenue in TC Engineering Equipment Joint Stock Company

CHAPTER II: The reality of revenue accounting in TC Engineering Equipment Joint Stock Company

CHAPTER III: Improving and Completing revenue accounting in TC Engineering Equipment Joint Stock Company

However, due to my qualifications and limited time, my thesis cannot avoid its shortcomings I hope to receive comments & feedback from teachers and all of great people in the accounting department in the company to make it more complete

I would like to sincerely thank my lecturer Dr Nguyen Ha Linh of National Economics University for helping and guiding me through the internship process & completing the bachelor thesis

CHAPTER I CHARACTERISTICS AND ORGANIZATION MANAGEMENT OF REVENUE ACCOUNTING IN TC ENGINEERING EQUIPMENT JOINT STOCK COMPANY

1.1 Characteristics of revenue accounting in TC Engineering Equipment

Joint Stock Company

1.1.1 Overview of business activities in TC Technical Equipment Joint Stock

- Functions of company:

e Providing products: industrial air conditioning systems, fire protection systems, surveillance camera systems, automation systems, elevator systems, Light & Power Management systems, Intelligent Automatic Parking systems

e Providing services: Equipment Supply & Installation Service; Repair and maintenance service, Design consulting (consulting clients on solutions and designing systems in the project to optimize construction costs)

- Major projects are Civil works, high-class houses, hotels, factories, export processing zones and equipment supply, technology transfer to laboratories, with a client file is covering not only all regions of Vietnam but also foreign clients (for example, Bokor Mountain Hotel Casino & Resort Project in Kampot, Campuchia)

1.1.2 Characteristics of revenue accounting in TC Engineering Equipment Joint Stock Company

Revenue from sales & performing services

- According to Vietnamese Accounting Standard No.14 Revenue and

Other Income indicates: “Revenue is the total value of economic benefits that

the enterprise has earned in the accounting period, arising from normal production and business activities of the enterprise, contributing to increase equity” According to Circular 133/2016/TT-BTC issued on 08/26/2016,

“revenue from selling activities is the income earned from the sale of products produced by an enterprise, revenue from service provision is the revenue earned when performing the work of the contractual agreements for one period, or multiple accounting periods, for example transport services, tourism, lease of fixed assets under the mode of operating leases, construction activity” Thus, in commercial enterprises in general, at TC Engineering., JSC in particular, revenue

is the entire amount of selling goods and services to clients and clients accept to pay for the value of the goods and services TC's sales of goods and services include revenues from the sale of equipment and appliances used for projects to install building equipment systems such as air conditioners, elevators, cameras, alarms, and fire protecting (smoke alarms, fire alarms; fire pumps; fire extinguishers; alarm bells; automatic fire extinguishing system; .) and revenue from consulting services, design, repair & maintenance of construction equipment

e Receiving clients fines for breaching the contract

e Receiving insurance proceeds due to compensation

e Receiving the receivables which have been written off and are included

in the previous period's expenses

e Liabilities now lost owners/debtors are recorded to increase income

e Collecting taxes are reduced, refunded

e Others

Other income of TC Engineering., JSC is primarily made of liquidation of

non-current assets, reduced/refunded taxes, Insurance proceeds, Fines of clients

and revenue from liquidated assets account for the highest percentage

- The company applies the tax calculation according to the deduction method, so the revenue from the sale of goods and services provision is the revenue without VAT The company signs contracts to provide products and services to customers For construction equipment, when delivering products, the company will issue VAT invoices and handover minutes; For service contracts, depending on each agreement and the completion process, the company will also issue VAT invoices in many completed installments

- Sales Rebates include Trade Discounts, Sales Rebates and Sales

Returns Trade discount is a discount offered by a business to a customer who buys goods in large quantity Usually, TC offers it to large enterprises with long- term transactions Sales discounts are deductions given to shoppers due to poor quality or obsolescence

- According to a business model, the company's customer files and distribution channels are mainly small & medium businesses or households and large project contracts in the form of bidding

1.2, Management organization of accounting for revenue in TC Engineering Joint Stock Company

v Revenue from goods sold & service provision

» Sales department

Upon receiving the notice of invitation to bid from the investor, the sales department will prepare the bidding document and submit it to the Director for approval Bidding document is made in 04 copies: 01 copy is sent to the investor for consideration Upon receiving announcement of winning the bid, the sales

department will generate an economic contract to ensure the legal status between the two parties The economic contract is made into 04 copies: 1 copy is handed over to the investor, 2™ and 01 copy of the bidding document are transferred to the construction department to make the construction plan, 3"! copy and 01 copy

of the bidding document are transferred to the accounting department to track billing, the 4" copy and 01 copy of the bidding document are kept as the client's name

» Planning/Project Department

The planning department plans and executes construction according to bidding documents and economic contracts When the work is finished completely or completed according to the planned schedule, the department will create a report about the completed work volume This report is made into 3 copies: the first one

is handed over to the investor, the second copy is transferred to maintenance department, the third copy is transferred to the accounting department

» Maintenance Department

Upon receiving the report sent by the planning department, the maintenance department makes acceptance certificate into 4 copies Representatives of the maintenance department and the investor's representative conduct the pre- acceptance test of the work and sign on certification of acceptance The first copy

is delivered to the customer, the second copy is transferred to the planning department, the 3" copy is transferred to the accounting department, the 4th is

saved

» Accounting Department

Based on accounting documents (such as commercial contract, acceptance

certificate, bidding document, and so on) accountant conducts:

At this time, the accountant makes 3 receipt notes and transfers them to the cashier for confirmation then getting back 1“ copy and save

» Cashier

The cashier receives the money, checks and signs on receipt note, 2°¢ copy is delivered to the customer, 3"! copy is a basis for recording the cash register and saving, | copy is transferred to the accountant

To manage effectively business activities of the enterprise, regardless of which component, type of ownership or field of activity must be used a set of different tools, of which accounting is considered an effective tool Especially in competitive market economy, accounting is used as an indispensable tool for every enterprise as well as for the macro management of the state, therefore sales accountants need to perform well the following basic tasks:

e Fully and promptly recording the volume of finished goods and services sold

e Checking and monitoring the implementation progress, sales plan and responsibility for paying taxes to the state

e Providing accurate, truthful and complete information about the sales situation for financial reporting and corporate management

Sales play an important role in business to determine the quantity and value of the amount of goods sold as well as the revenue achieved by the business, but to promote its role and perform well the tasks, it is required to organized the accounting work to be very reasonable and accountants must have a strong knowledge about the content sales accounting of the company

vY Financial income management & organization

All financial income arising in the accounting period must have valid invoices and vouchers to prove and fully reflect in the company's accounting books according to the current accounting regime

v¥ Other income

Other income is the one in which almost is income from disposing fully depreciated assets and unused assets Liquidation of those assets requires inspection minutes to ensure those are no longer able to use

CHAPTER H RELIATY OF ACCOUNTING FOR REVENUE IN TC ENGINEERING EQUIPMENT JOINT STOCK COMPANY

2.1 Revenue from sales & service provision accounting

2.1.1, Accounting vouchers and procedures

» Accounting voucher circulation process

- Firstly, clients discuss with sales department about their demand in products/services then sales department will prepare price quotations and sent it to clients Secondly, sales department creates the economic contract into 04 copies: O1 copy is delivered to the customer, 01 copy is transferred to maintaining department, 01 copy is transferred the accounting department, 01 copy is saved

- Based on the economic contract:

e For consulting service contracts, installation & maintaining contracts, maintaining department will carry out the work and when those tasks are completed, a certificate of completion and a handover minute will be made into 03 copies: 01 copy is delivered to customers, 01 copy is transferred to the accountant and 01 is Kept to save

- Accounting vouchers which directly relate to sales is VAT Invoices Based

on the minutes of handover of assets, output VAT invoices, accountants will

record revenue The VAT invoices are made into 03 copies: 01 copy is kept & save, 01 copy is delivered to customers and 01 copy is used for accounting with tax authorities Accountant can determine revenue & taxes based on VAT Invoices

- Finally, when customers make payments By bank transfer, cashier receives credit note from bank, sends to accounting department to record and save The Bank's credit note is sent by the bank where the Company has a trading account to confirm that there is an increase in revenue in the company's account Accountant records data in their accounting books and saves as a basis for comparation if any mistakes occur If customers pay by cash, cashier receives full amount of money, records the actual amount entered (in numbers and words) and signs on receipt note, records in cash book The cashier will also keep 01 copy for bookkeeping,

01 for delivering to payer, and 01 copy for keeping at the polling place At the end

of the day, all receipts and original vouchers must be transferred to accounting department for recording in the accounting books

Chart 2.1 Sales Procedure circulation process

Accounting documents (Original

documents, Invoice, Credit Note, Handover of assets minutes, and so on)

» Debit side:

e Indirect taxes payable (VAT, special consumption, export, and environmental protection)

e Sales of goods returned are carried forward at the end of the period

e Sales discount at the end of the period

e Trade discounts carried over at the end of the period

e Transfer net revenue to 911 account "Determination of business results"

» Credit side:

e Revenue from sale of equipment & goods and service provision of an enterprise in the accounting period

» The company generates 2 sub-accounts:

e Account 5111 - Sales of goods: This account is used to reflect the revenue and net revenue of the volume of goods & equipment determined to be sold in an accounting period of the enterprise This account is mainly used for the trading of industrial air conditioning systems, fire protection systems, surveillance camera systems, automation systems, elevator systems, Lighting Management systems, Intelligent Automatic Parking systems

e Account 5112 - Service revenue: This account is used to reflect the revenue and net revenue of the volume of services completed in an accounting period This account is mainly used for service such as: Equipment Supply & Installation Service; Repair and maintenance service, Design consulting (consulting clients on solutions and designing systems in the project to optimize construction costs)

- Others related accounts:

e Account 111: Cash

e Account 112: Cash at bank

e Account 131: Account Receivable

e Account 3331: VAT payable

e Account 3387: Deferred Revenue

2.1.2 Detail accounting for revenue from sales and service provision

- Additionally, I would like to express some example about revenue for selling products and service provision in TC Engineering., JSC

Example 1: Neubular Construction., JSC ordered some equipment (20 air conditioners, 24 cameras, 2 elevators) regarding commercial contract HD/2020/HDXD150-TN1, its value is 1,480,776,000 (included VAT, 10%) Referring to the contract (appendix) to find out more information

e On January 15, TC sent price quotation to Neubular

e On February 2, Neubular sent order to TC

e On February 15, Neubular paid 25% of the contract in advance which

amount is 592,310,400 by bank transfer

e On February 18, TC issued goods & invoice according to Ist installment

of the contract (20 air conditioners, 24 cameras) to delivered to the

customer

e On February 25, TC issued goods & invoice according to 2rd installment

of the contract (2 elevators) to delivered to the customer

e On March 5, Neubular paid for the remaining amount of the contract

which amount is 888,465,600

- On January 15, TC sent price quotation to Neubular

Table 2.1: Price Quotation

TC Engineering., JSC

Address: 607, 6" floor, Vinahud building, Trung Yen 9 Street, KDT

Trung Yen, Trung Hoa Ward, Cau Giay District, Hanoi City PRICE QUOTATION

Dear: Neubular Construction Joint Stock Company

Our company is pleased to provide a detailed quotation as follows:

(In words: One Billion Three hundred Fourty-six Million and One Hundred Sixty thousand dong )

Note:

The prices are VAT-Excluded price

Should you have any further questions, please contact

Ms Hoa Tran at hoatran.tcjsc@ gmail.com, tel: 0903564211

Best Regards!

Hanoi, January 15, 2020

TC Engineering., JSC

- On February 2, Neubular sent order to TC

Table 2.2: Order

Entity: Neubular Construction Joint Stock Company

Department: Sales Department

ORDER Dear: TC Technical Equipment Joint Stock Company

Our company would like to order the following equipment:

- On February 15, Neubular paid 25% of the contract in advance its amount

is 592,310,400 by bank transfer

Table 2.4: Credit Note

Branch: Vietcombank — Cau Giay Client Code: 275431

Transaction number: 01 CREDIT NOTE

Date: 15/02/2020 Dear: TC Engineering Joint Stock Company

- On February 18, TC issued goods & invoice according to Ist installment

of the contract (20 air conditioners, 24 cameras) to delivered to the

customer

Table 2.5: Goods-issued voucher

(issued under Circular No133/2016/TT-BTC) GOODS-ISSUED VOUCHER

Date: 18/02/2020 Dr 632: 152,800,000 Number: 0000105 Cr 152: 152,800,000

- Name of receiver: Nguyen Van Hoan Department: Warehouse Dep

- Reason: Issue for the contract HD/2020/HDXD150-TNI1

- Store Location: Store A

Order | Name of goods Code Amount | Unit Cost Total cost

1 2-way air- TPTB023 20 6,200,000 124,000,000 conditioner LG

Preparer Receiver Storekeeper Chief Accountant Director

- On February 18, TC issued goods & invoice according to Ist installment

of the contract (20 air conditioners, 24 cameras) to delivered to the

customer

Table 2.6: Receipt of delivery

TC Engineering., JSC SOCIALIST REPUBLIC OF VIETNAM

RECEIPT OF DELIVERY

e Based on the contract HD/2020/HDXD150-TN1 between TC

Engineering., JSC and Neubular Construction ,JSC

e Based on the order note on February 2, 2020

Today, February 18, 2020, we include:

PARTY A (Consignee): Neubular Construction., JSC

- Address: 95/28 Vu Xuan Thieu, Phuc Loi Ward, Long Bien District,Hanoi

- Representive: Ms Nguyen Bich Ngoc Position: Head of Warehouse dep PARTY B (Party of goods): TC Engineering., JSC

- Address: Vinahud building, Trung Yen 9 Street, KDT Trung Yen, Trung

Hoa Ward, Cau Giay District, Hanoi

- Representive: Mr Nguyen Van Hoan Position: Head of Warehouse dep The two sides aggree on the delivery quantity as follows:

Order Name of goods Calculation | Quantity Note

Party A affirms that Party B has assigned Party A the right time and quantity

as above Both parties agree, sign the agreement The minutes are made in 02 copies, each party keeps 01 copy at the same legal value

Hanoi, February 18, 2020

17

- On February 18, TC issued goods & invoice according to Ist installment

of the contract (20 air conditioners, 24 cameras) to delivered to the

customer

Table 2.7: VAT Invoice (Providing products)

Invoice Form: 01GTKT3/001

Sheet 2: Delivery to customer Number: 0000050

Date: 18/02/2020

Seller: TC Engineering Equipment Joint Stock Company

Address: 607, 6" floor, Vinahud building, Trung Yen 9 Street, KDT Trung Yen, Trung Hoa Ward, Cau Giay District, Hanoi City, Vietnam

Bank Account Number: 1090399976321 — Vietcombank

Tel: (+84) 3289xxxx Fax: (+84) 389xxxxx Tax code: 0104037131

Buyer: Neubular Construction Joint Stock Company

Entity Name: Neubular Construction Joint Stock Company

Address: 95/28 Vu Xuan Thieu, Phuc Loi Ward, Long Bien District, Hanoi

Bank Account Number: 0301000399815

Payment type: Bank Transfer Tax Code: 0109611173 Numerical |Description Unit |Amount |Unit Price [Price Order

1 2-way air-conditioner | VND 20 9800000 |196,000,000

LG B13END

12000BTU

2 1-eye 1080 FullHD [|VND 24 2,090,000 50,160,000 Camera Dahua

- On February 25, TC issued goods & invoice according to 2nd installment

of the contract (2 elevators) to delivered to the customer

Table 2.8: Goods-issued voucher

(issued under Circular No133/2016/TT-BTC)

GOODS-ISSUED VOUCHER

Date: 25/02/2020 Dr 632: 800,000,000 Number: 0000121 Cr 152: 800,000,000

- Name of receiver: Nguyen Van Hoan Department: Warehouse Dep

- Reason: Issue for the contract HD/2020/HDXD150-TNI1

- Store Location: Store A

Order | Name of goods Code Amount | Unit Cost Total cost

Preparer Receiver Storekeeper Chief Accountant Director

- On February 25, TC issued goods & invoice according to 2nd installment

of the contract (2 elevators) to delivered to the customer

Table 2.9: Receipt of delivery

TC Engineering., JSC SOCIALIST REPUBLIC OF VIETNAM

RECEIPT OF DELIVERY

e Based on the contract HD/2020/HDXD150-TN1 between TC

Engineering., JSC and Neubular Construction.,JSC

e Based on the order note on February 2, 2020

Today, February 25, 2020, we include:

PARTY A (Consignee): Neubular Construction., JSC

- Address: 95/28 Vu Xuan Thieu, Phuc Loi Ward, Long Bien District,Hanoi

- Representive: Ms Nguyen Bich Ngoc _ Position: Head of Warehouse dep PARTY B (Party of goods): TC Engineering., JSC

- Address: Vinahud building, Trung Yen 9 Street, KDT Trung Yen, Trung

Hoa Ward, Cau Giay District, Hanoi

- Representive: Mr Nguyen Van Hoan Position: Head of Warehouse dep The two sides aggree on the delivery quantity as follows:

Order Name of goods Calculation | Quantity Note

Party A affirms that Party B has assigned Party A the right time and quantity

as above Both parties agree, sign the agreement The minutes are made in 02

- On February 25, TC issued goods & invoice according to 2nd installment

of the contract (2 elevators) to delivered to the customer

Table 2.10: VAT Invoice (Providing products)

Invoice Form: 01GTKT3/001

Sheet 2: Delivery to customer Number: 0000055

Date: 25/02/2020

Seller: TC Engineering Equipment Joint Stock Company

Address: 607, 6" floor, Vinahud building, Trung Yen 9 Street, KDT Trung Yen, Trung Hoa Ward, Cau Giay District, Hanoi City, Vietnam

Bank Account Number: 1090399976321 — Vietcombank

Tel: (+84) 3289xxxx Fax: (+84) 389xxxxx Tax code: 01040371351

Buyer: Neubular Construction Joint Stock Company

Entity Name: Neubular Construction Joint Stock Company

Address: 95/28 Vu Xuan Thieu, Phuc Loi Ward, Long Bien District, Hanoi

Bank Account Number: 0301000399815

Payment type: Bank Transfer Tax Code: 0109611173 Numerical |Description Unit |Amount |Unit Price [Price Order

Total (Exclude VAT): 1,100,000,000

Amount (In words): One billion two hundred and ten million dong

- On March 5, Neubular paid for the remaining amount of the contract, its

amount is 888,465,600

Table 2.11: Credit Note

Branch: Vietcombank — Cau Giay Client Code: 262531

Transaction number: 01 CREDIT NOTE

Date: 05/03/2020 Dear: TC Engineering Joint Stock Company

Example 2: TC Engineering., JSC provides electrical and lighting system design consulting service at Green Tower project regarding contract

HD/2020/HDTV110-GT with TBS Group Its value is 412,500,000; Payment method: Bank transfer

e On March 7, TBS Group paid in advance 40% of the contract, its amount

is 165,000,000

e On March 17, TC issued invoice when completing consulting service

e On April 15, TBS paid for the remaining amount of the contract, its

Amount (in words): One Hundred Sixty-five million dong

Description: TBS Group pays in advance for contract

HD/2020/HDTV110-GT

Tellers

- On March 17, TC issued invoice when completing consulting service

Table 2.13: VAT Invoice (Service Provision)

Invoice Form: 01GTKT3/001

Sheet 2: Delivery to customer Number: 0000101

Date: 17/03/2020

Seller: TC Engineering Equipment Joint Stock Company

Address: 607, 6" floor, Vinahud building, Trung Yen 9 Street, KDT Trung Yen, Trung Hoa Ward, Cau Giay District, Hanoi City, Vietnam

Bank Account Number: 1090399976321 — Vietcombank

Tel: (+84) 3289xxxx Fax: (+84) 389xxxxx Tax code: 0104037131

Buyer: TBS Group

Entity Name: TBS Group

Address: 5A Xuyen A, An Binh Ward, Di An Town, Binh Duong Province

Bank Account Number: 1903647056601 4

Payment type: Bank Transfer Tax Code: 3700148737 Order | Description Unit | Amount | Unit Price Price

1 Electrical and lighting VND 01 375,000,000 | 375,000,000

system design consulting

services at Green Tower

project for contract

HD/2020/HDTV110-GT

- On April 15, TBS paid for the remaining amount of the contract, its

amount is 247,500,000

Table 2.14: Credit Note

Branch: Vietcombank — Cau Giay Client Code: 254231

Transaction number: 01 CREDIT NOTE

Date: 15/04/2020 Dear: TC Engineering Joint Stock Company

Example 3: On April 10, 2020, TC Engineering., JSC provide the service of installing new camera system and maintaining air-conditioner system according

to the contract HD/2020/HDDV169-RV which is 86,876,000 VND (The figure

for Camera system is 10,527,000 & the value of maintaining air-conditioner

system is 76,340,000 at Detech Tower II for Relia Vietnam., JSC

e On April 10, Relia paid in advance for installing camera system in cash,

its amount is 10,527,000

e On April 12, TC issued confirmation of work to handover the work when completing the services

e On April 12, Invoice is sent to Relia

e On April 19, Relia paid for the remaining fee of the contract, its amount is

Address: 10" Floor, Detech Tower II, 107 Nguyen Phong Sac, Cau Giay District, Hanoi

Reason: Payment in advance for contract HD/2020/HDDV169-RV

Amount: 10,527,000

Related Original Voucher:

Hanoi, April 10 2020

Received full amount: Ten million Five hundred twenty-seven thousand

- On April 12, TC issued confirmation of work to handover the work when completing the services

Table 2.16: Confirmation of work

Address: 607, 6" floor, Vinahud building, Trung Yen 9 Street, KDT

Trung Yen, Trung Hoa Ward, Cau Giay District, Hanoi City, Vietnam

We have finished the workload regarding the contract

HD/2020/HDDV169-RV on May 12, 2020 as follows:

- On April 12, Invoice is sent to Relia

Table 2.17: VAT Invoice (Service Provision)

Invoice Form: 01GTKT3/001

Sheet 2: Delivery to customer Number: 0000211

Date: 12/04/2020

Seller: TC Engineering Equipment Joint Stock Company

Address: 607, 6" floor, Vinahud building, Trung Yen 9 Street, KDT Trung Yen, Trung Hoa Ward, Cau Giay District, Hanoi City, Vietnam

Bank Account Number: 1090399976321 — Vietcombank

Tel: (+84) 3289xxxx Fax: (+84) 389xxxxx Tax code: 0104037131

Buyer: Relia Vietnam Joint Stock Company

Entity Name: Relia Vietnam Joint Stock Company

Address: 10" floor, Detech Tower II, 107 Nguyen Phong Sac, Dich Vong Hau

Ward, Cau Giay District, Hanoi

Bank Account Number: 19035490576012

Payment type: Cash & Bank Transfer Tax Code: 0104269446 Order | Description Unit | Amount | Unit Price Price Reolink RLC-410W VND | 3 2,490,000 — | 7,470,000 Camera

Installation Fee VND | 1 2,100,000 2,100,000 Air-conditioner System VND | 1 69,400,000

Maintaining Service