graduate internship report internship company institution omron vietnam company limited

GRADUATE INTERNSHIP REPORT INTERNSHIP COMPANY/INSTITUTION: OMRON VIETNAM COMPANY LIMITED OMRON Industrial Automation Address: 6th Floor, Office Building of the Corporation 789, No.. GRAD

GRADUATE INTERNSHIP REPORT

INTERNSHIP COMPANY/INSTITUTION: OMRON VIETNAM COMPANY

LIMITED (OMRON Industrial Automation) Address: 6th Floor, Office Building of the Corporation 789, No 147 Hoang Quoc Viet, Nghia Do Ward, Cau Giay District, Hanoi City, Vietnam

Student’s name: Luu Thuc Anh

Hanoi — Year 2022

GRADUATE INTERNSHIP REPORT

INTERNSHIP COMPANY/INSTITUTION: OMRON VIETNAM COMPANY

LIMITED (OMRON Industrial Automation) Address: 6th Floor, Office Building of the Corporation 789, No 147 Hoang Quoc Viet, Nghia Do Ward, Cau Giay District, Hanoi City, Vietnam

Student’s full name : Luu Thue Anh

2 - REPORT ON FINDING RESULTS ON BUSINESS ACTIVTTIES LŨ 2.1 ORGANLZATIONAL STRUCTURE AND MANAGEMENT ÁPPARATUS S22 s2 10 2.2_ ]OB DESCRIPTION OF PROFESSIONAL STAFE 22c 2211111111111 n n2 2x66 13 2.3 FORM OF ACCOUNTING IN THE COMPANY 2221111111111 111v nn TH 15 xe 15 2.4 ACCOUNTING SYSTEM APPLIED AT THE COMPANY 2 21111111111 nen 15 2.5 WORK ENVIRONMENT 222102511110 1111 11111 Hn TT ng T115 0115111511111 kk k2 0z 16 2.6 BUSINESS RESEARCH OF THE COMPANY IN RECENT YEARS 0 cccccccccccccccccueeeeteseeeeeseecs 16

3.1 GRADUATION INTERNSHIP OBJECTIVES .cccccccccccesscccccesesssseccscessnssecesesesesenesesecenenenes 18 E'99)/02)/).1920.\.)€))0290`)/9aidiiiitdầẳỶŸỶÝỶ 18 3.3 IMPLEMENTATION METHOD .000ccccceccssscecccessscseecesessseccecestssseceseessseseesenttetttttteasenenes 19 3.3.1 CASH ACCOUNTING PROCESS AT THE ENTERPRISE .000cccccccscssscceecessseseccessnssseceseseees 19 3.3.2 DETAILS OF THE CASH RECEIPT AND PAYMENT ACCOUNTING PROCESS AT THE I2))\§N2:4u:4:)2EHHddadđdddadddddddadadăiẳi.£ÉẢẼÝỀÝẼỀÝÃ.ÝẢỶ 20 3.3.3 ACTUAL OPERATIONS OF CASH ACCOUNTING AT ENTERPRISES 255 2c 22+ 25

4 - EXPERIENCEAND RECOMMENDATIONS TO IMPROVE

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4.1 CONTRIBUTIONS AND EXPERIENCES GAINED FROM THE INTERNSHIP - 32 4.2 IDENTIFY IMPORTANT PROBLEMS AND SOLUTIONS IN THE COMING TIME TO IMPROVE ORGANIZATIONAL PERFORMANCE (ORIENTATION FOR IN-DEPTH RESEARCH FOR THE

SIGNAL TABLE

Abbreviation Stand for Co Ltd Company Limited Inc Incorporated Pte Ltd Private Limited Liability Company CFC Chlorofluorocarbon PCB Printed Circuit Board LIST OF TABLES Table 1.1: Corporate profile of OMRON Corporation

Table 1.2: Corporate profile of OMRON TA cà Table 1.3: An overview of OMRON's 80-vear history

Table 2.1: Tasks Performance OMRON IJA

Table 2.2: OMRON JA’s Revenue in the period of2019-2021

Table 2.3: Review of the Company’s Financial Position in the last 3 years

LIST OF FIGURES Figure 2.1: Organizational Chart of OMRON 0.0 ccc cee ccc cee cee cee ee ee cee eee ee ens LIST OF DIAGRAMS Diapram 2.L: Oreanizational Chart of OMRON IA VietNam

Diagram 2.2: Organization of the accounting apparatus at OMRON IA

Diagram 2.3: Form of AccOUnting ccc các cọc c2 nền nh ng nen vs Diagram 3.I: Flowchart ofaccounting process for cash collection

Diagram 3.2: Details of cash payment accounting process

ACKNOWLEDGEMENT .13 .16 .17

.TI

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13

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I am a student majoring in Accounting — Accounting, Auditing & Analyzing at the International School, I feel extremely fortunate to have been and am doing an internship at

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OMRON Vietnam Co., Ltd., Hanoi branch at 6th Floor, Office Building of the Corporation

789, No 147 Hoang Quoc Viet, Nghia Do Ward, Cau Giay District, Hanoi City, Vietnam Thanks to the help and enthusiastic guidance of superiors, colleagues and departments, | have sucessfully finished my internship report Here I apply a lot of knowledge | learned in the school and also get valuable experiences Especially Mrs Neuyen Thi Minh Ngoc has helped me to overcome many difficulties and shared valuable lessons during my internship

at the company

I also want to send my deep thanks to the teachers at the international school, who helped

my master useful knowledge to apply well in my work and career path in the future Especially MA Phan Bao Trung who guided and helped me to perfect this topic

After completing the internship, I hope that I will be strong enough to step out into society

By confident, | want to do my favorite jobs in accordance with the solid knowledge which I have in school as well as the experiences accumulated during the internship

Sincerely,

Luu Thuc Anh

DECLARATION LETTER

I hereby declare that the internship report at OMRON VIETNAM COMPANY LIMITED (OMRON Industrial Automation) is my personal article

] take full responsibility for the truthfulness of the content in my report

Hanoi, 30 August 2022 Student sign Anh Luu Thue Anh

1 —-INTRODUCTION

1.1 General Information

- OMRON was founded in Japan in 1933, now has over 25,000 employees and sales over 5 billion USD per year OMRON is considered one of the world's leading electronics companies in automation technology OMRON's automatic devices are of high quality, manufactured with the latest technology and are diverse: from simple switches, relays of all kinds, timers, counters, sensors, temperature control , to modern program control devices All with nearly 20,000 different items, constantly being improved

- Inearly 1996, Omron Electronics Pte.Ltd opened a representative office in Hanoi and then in Ho Chi Minh City Currently, Omron has a sales network of distributors and agents

- In addition to sales, Omron and its distribution system also provide other services such as consulting, system design, installation, user manual, maintenance, repair, organizing training courses on automatic equipment motion for customers The following courses are currently available: - Instruction for using OMRON PLC with CPIL/E type Micro PLC using CX-Programmer software - Instruction for using ZEN devices, temperature controllers, sensors, and product groups other products

Table 1.1: Corporate profile of OMRON Corporation

President and CEO Yoshihito Yamada

Business Overview As a global leader in the field of automation, OMRON’s

business fields cover a broad spectrum, ranging from industrial automation and electronic components to social systems including automated ticket gates and solar power conditioners, healthcare At present, OMRON provides products and services in around 120 countries and regions

Number of Employees | OMRON Group: 29,020 (10,143 in Japan; 18,877 outside

Japan) (as of March 31,2022)

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| Headquarters | Shiokoji Horikawa, Shimogyo-ku, Kyoto 600-8530 Japan

Table 1.2: Corporate profile of OMRON JA

147 Hoang Quoc Viet, Nghia Do Ward, Cau Guay District, Hanoi City, Vietnam

October 1960 Central R&D Laboratory completed in Nagaokakyo, Kyoto

April 1964 World’s first automated traffic signal developed

March 1967 World’s first unmanned train station developed

November 1968 | OMRON Tateisi Electronics Co Established as company’s official

English name March 1969 World’s smallest desk-top electronic calculator “CALCULET-1200”

launched June 1971 World’s first online automated cash dispenser developed

February 1972 OMRON Taiyo Electronics Co., Japan’s first factory for workers with

disabilities, jointly established with Japan Sun Industries

July 1987 World’s first ultra-high-speed fuzzy logic controller developed

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September European regional management center established in The Netherlands

October 1988 Asia Pacific regional management center established in Singapore

(OMRON Asia Pacific Pte.Ltd)

April 1989 North American regional management center established in the United

States (OMRON Management Center of America, Inc.)

January 1990 Company name changed to OMRON Corporation

May 1994 Greater China regional management center established in Being,

China (OMRON (China) Co., Ltd.)

Achieved complete phase out of CFCs (freon)

1995 Distance warning system for motor vehicles developed

1998 Machine capable of identifying counterfeit notes in various currencies

developed

April 1999 Internal company system established to seperate management

oversight and business operations Mishima Factory achieves zero emissions

April 2002 Status of Greater China regional management center upgraded to

regional head office for promoting expansion of business in China May 2003 Global R&D hub “ Keihanna Innovation Center” established in

Soraku-gun, Kyoto

June 2003 Yoshio Tateisi becomes Chairman, Hisao Sakuta named President &

CEO

May 2004 Face recognition technology for mobile phones developed

May 2006 Global design/production center for control devices begins operations

in Shanghai, China

safeguarding)

June 2007 New R&D center opened in China

September OMRON 3D image sensing technology put to practical use through

2007 world’s first real-color 3D Vision Sensor

December 2009 | “ene-brain’” CO2 visualization system launched, world’s first system

capable of automatically analyzing areas for potential energy conservation based on the knowledge of an expert consultant

November 2010 | The “WellnessLink” health management web service launched June 2011 OMRON group has developed a new long-term strategy for the

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decade up to 2020, called “Value Generation 2020”, or “VG2020”

controllers launched Automation Technology Centers established in Japan (August) and China (September) to provide automation support

1.3 Vision, Mission, Core Values

- Vision: Empowering people through automation

- Mission: To improve lives and contribute to a better society

- Core Values:

© Innovation driven by social needs

Be a pioneer in creating inspired solutions for the future

¢ Challenging ourselves

Pursue new challenges with passion and courage

© Respect for all

Act with intergrity and encourage everyone’s potential

1.4 Services and Business

- Industrial Information

- Healthcare

- Social Systems

- Electronic Components

Especially, The main lines of OMRON IA Co.,Ltd are:

- General Wholesale (Main Industry)

- Other retail sales not elsewhere classified

- Management consulting activities

- Market research and opinion polls

- General office administrative services

- Photocopying, document preparation and other special office support activities

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- Remaining other business support service activities n.¢.c

- Repair of machinery and equipment

- Architectural activities and related technical consulting

- Repair of electronic and optical equipment

2 —REPORT ON FINDING RESULTS ON BUSINESS ACTIVITIES 2.1 Organizational Structure and Management Apparatus

Figure 2.1: Organizational Chart of OMRON

[ Global Corporate Venturing Office

= Global Investor and Brand Communications HQ Global Risk Management and Legal HQ Global Internal Auditing HQ

Device & Module Solutions Company t - OMRON SOCIAL SOLUTIONS Co., Ltd

OMRON HEALTHCARE Co., Ltd

Diagram 2.1: Organizational Chart of OMRON JA VietNam

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Board of manager

Customer

Functions of the departments:

The Board of Directors are the people who manage and run the daily business activities of the Company The Board of Directors is responsible to legal authorities for daily operations according to assigned tasks and powers (such as making investment plans, approving internal regulations, signing contracts in the name of a single person, etc.) positions, recruiting workers, etc.) They are the ones who decide on the goals and development orientations, establish subordinate departments, appoint departments, manage and supervise, operate through assistants and departments

Accounting Department: Organize to record and reflect fully and accurately economic operations arising on capital activities and capital use Classify operations, summarize according to each accounting method in order to provide complete and accurate information in a timely manner, serving the management and direction of the Company's operations Monitor the increase and decrease of fixed assets, depreciation and amortization allocation, especially need to closely link with the warehouse accountant to closely monitor the situation of inventory, product import and export, etc Perform inventory cash, bank deposits and spending management Check the validity and legitimacy of vouchers and make cash receipts and payments according to the orders of competent persons and accounting vouchers Keep track

of employee salary and deductions, registration fees, mandatory insurance premiums, road tolls Debt tracking and debt collection

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Internal control department: including human resources and legal departments Responsible for advising the Board of Directors, the activities of the department in order to forecast, detect and prevent risks associated with all activities of the Company Also responsible for managing employees and other departments in the business, building human resources for the Company Legislature is responsible for creating rules and standards within the business, and; regulate and control operations

of enterprises; ensure that business operations comply with state laws and internal standards

Business Department: is the consulting department, helping the Board of Directors

on the sale of products and courses of the company Market research & development; Building and developing customer relationships Take responsibility before the Director for those activities within the assigned tasks and authority Taking care of customers according to Company policy Advising on the development of sales policies, including policies on prices, promotions, discounts & promotional programs, approaching customers for submission to the Board of Directors for approval

2.2 Job description of professional staff

Diagram 2.2: Organization of the accounting apparatus at OMRON JA

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Bank

Chief Accountant manages work and assigns tasks to each accountant according to the

following table:

Table 2.1: Tasks Performance OMRON IA

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4, Checking carefully the

quantity, quality, type of

materials before storing

warehouse receipt and

comparing with the

storekeeper

7 Keeping track of all

payments and expenditures

8 Verifying entries and

comparing system reports to

11 Checks the fund book to

compare the bank's sub-

book monthly

12 Following economic

contracts to collect debts

from customers on time

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social insurance, health

insurance, and other funds

The link between the staffs work of the accounting department

The accountants are divided work by categories to ensure specialization and create cross-control In accounting work, there is a regular exchange and comparison of data among accountants in order to detect errors quickly, to prevent them from seriously affecting the book system, to synthesize data and to consider the timeliness, completeness of the transaction

2.3 Form of Accounting in the Company

The company uses the accounting method on MISA software, prints the books in the form

of a general journal

Diagram 2.3: Form of Accounting

- At the end of the accounting period, closing the books and preparing financial statements The reconciliation between aggregated data and detailed data is

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automatically performed according to the information entered in the period Accountants can check the data between the accounting books and the financial statements after they are printed on paper At the end of the month and at the end

of the year, the general accounting books and the detailed accounting books are bound together and legal procedures are carried out as prescribed

2.4 Accounting system applied at the Company

Annual accounting period: Starting from January 1, ending on December 31 of the calendar year Applicable accounting regime: Circular No 200/2014/TT-BTC dated December 22, 2014 issued by the Ministry of Finance and according to other regulations of the company

Currency used in accounting: Vietnam Dong (VND)

VAT calculation method: tax credit method

Depreciation of fixed assets using the "straight line" method

Accounting for inventory using the perpetual declaration method, calculating the value of inventory using the weighted average method

Revenue - expense recognition: according to the accrual basis of accounting 2.5 Work environment

OMRON JIA always strives to create a happy working environment where employees are motivated to work proactively, creatively, with high cooperation with management, and always strive to build relationships sustainably doing business with its customers through continuous innovation and product improvement The working environment is considered an important factor that greatly affects the productivity and work quality of employees Therefore, the form of culture OMRON

IA built up not only wants its employees to improve their health every day, but also wants all employees to be able to freely voice their opinions Through daily sharing, the company's leadership also wants to tell its employees that don't be afraid to share, contribute, and build so that both sides can stick together for a long time 2.6 Business research of the Company in recent years

Table 2.2: OMRON IJA’s Revenue in the period of 2019-2021

(Unit: dong) 15

(Source: Accounting department) Table 2.3: Review of the Company’s Financial Position in the last 3 years

2020, equivalent to an increase of 35% The increase in revenue is due to the company's strategy to adapt to the Covid 19 epidemic, the old projects continued to

be deployed and accepted, and the company added new projects

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- Cost of goods sold fluctuates from year to year Specifically, cost of goods sold in

2020 decreased by VND 308,994,263 compared to 2019, equivalent to 13% In

2021, the cost of goods sold increased by 848,584,570 VND compared to 2020, equivalent to 41% due to the increase in net revenue, so the cost of goods also increased, input goods increased in price compared to previous years

- Gross profit from business activities decreased over the years Specifically, in 2020, gross profit decreased by 158,828,120 VND compared to 2019, equivalent to 36%

In 2021, a decrease of VND 19,908,683 compared to 2020, equivalent to 7% The decrease in gross profit was due to the impact of the epidemic, so the quantity of goods sold decreased and the cost of goods sold increased

- Profit after tax in the last 3 years has also tended to decrease Specifically, 2020 will decrease by 1,289,360 VND compared to 2019, corresponding to an 8% decrease In

2021, a decrease of VND 744,457 compared to 2020, a decrease of 5%, respectively,

is due to the heavy impact of the epidemic, causing business administration and financial costs to increase, the company has not taken measures to tighten expenses

3 — THE CONTENT OF THE WORK ASSIGNED DURING THE

INTERNSHIP 3.1 Graduation internship objectives

The first goal is to be able to use the specialized knowledge of accounting that I have learned to apply in real work, besides being proficient in accounting software, having knowledge of accounting law, ability to timely grasp the latest regulations on tax law Learn and accumulate experience in handling accounting operations related to invoices and vouchers The position of accounting intern helps to build the right skills for an accounting career, diversifying the accounting profession in the position of general accountant with tasks such as checking, ensuring accuracy, timely and accurately reflect the data of arising economic operations skills necessary for the goal of becoming a chief accountant in the future

3.2 Contents of assigned work

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In the work of a general accountant intern at the enterprise, there will be duties such as:

- Collect, synthesize and process accounting data related to economic activities arising in the period of the enterprise such as payment slips, receipts, invoices, export slips, input slips, Thereby will check the validity and inheritance of documents related to legal economic operations, record accounts in relevant books

- Accounting of expenses, revenue, VAT, depreciation, liabilities, fixed assets, intangible assets, and tax reporting, tax finalization

- Print general and detailed accounting books for businesses

- Compare data between units, aggregate data and detailed data

- Making statistics and summarizing accounting books and documents when required

- Store, arrange and preserve documents and books in accordance with the law

- Checking the terms, accounting for arising transactions, the balance between books and documents

In the above activities, cash-related transactions often arise in the business, cash accounting

is the job of tracking all activities related to cash receipts and payments at the fund, monitoring and controlling Daily statement from which to prepare cash flow for internal business activities - this is also the main job during the internship period at the company 3.3 Implementation method

Cash accounting records cash receipts in the period in which they are received and expenses recognized in the period in which they are actually paid In other words, revenue and expenses are recognized when received and paid respectively When transactions are recorded on a cash basis, they affect the company's books with a lag from when the transaction is completed The accounting operations at the enterprise are performed fully, timely and accurately, allowing the business owner to track his debts to others and tell which customers have received the goods and services that he or she has received unpaid All procedures and cash flow statements help to paint a complete picture of the business and profitability of the business Cash accounting helps to handle cash related issues including calculating numbers, reviewing documents for eligibility, true or false After calculating and considering the reasonable vouchers, the accountants shall practice the calculation and accounting on the accounting software The work of the cash accountant at

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the enterprise focuses on managing problems arising when using cash to collect and spend

on production activities in the enterprise

3.3.1 Cash accounting process at the enterprise

Collection - expenditure and cash management is a regular operation in businesses and there is always a cash accounting department (or payment accounting) and a cashier to take

on this role Therefore, in order to help accountants have a system of the most complete knowledge of general cash accounting Enterprises need to unify the process to ensure the payment process is scientific and easy to control Details of the procedure are given below Participating and responsible subjects include:

¢ Person who needs payment (Example: Employee needs to pay an advance)

e Accountant, chief accountant

e Treasurer

¢ Head of department/manager

¢ Manager

3.3.2 Details of the cash receipt and payment accounting process at the enterprise

1 Make payment request form

Persons wishing to pay need to prepare a set of payment request documents such as:

¢ Bill payment request

¢ Original documents and 01 attached copy (Invoice, delivery record, .)

® Economic contracts

© Other accompanying documents

Persons wishing to make payment shall make a payment request form and submit it to the custodian for approval (specify the amount of advance payment, if any)

Send the accounting department the payment request form and all relevant documents for confirmation and payment basis

u Receive and check payment documents

At this step, the accountant is the main participant The accountant must check the dossier and data already advanced (if any) Ensure accurate checking of the legality of the received documents

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