Báo cáo thực tập tiếng anh INTERNSHIP COMPANYINSTITUTION MAO KHE COAL COMPANY VINACOMIN

List of table Table 1.1: Statistic of assets in 2013 – 2015 of Mao Khe Coal Company Table 2.1: Capital structureTable 2.2: Report of fixed capital of Mao Khe Coal Company Table 2.3: Repo

VIETNAM NATIONAL UNIVERSITY, HANOI

INTERNATIONAL SCHOOL

***

GRADUATE INTERNSHIP REPORT

INTERNSHIP COMPANY/INSTITUTION: MAO KHE COAL COMPANY - VINACOMIN

Address: Dan Chu - Mao Khe – Đong Trieu district – Quang Ninh province

Supervisor: PhD Pham Duc CuongStudent’s full name: Do Thi Thuy QuyenStudent’s ID: 11071559

Major: International businessClass: IB2012B

Ha Noi, ………

LETTER OF THANK

To: Teachers in International School- Vietnam national university, Ha Noi!

Director and all of Staffs of Accounting Department in Vinacomin-Mao KheCoal Company in Quang Ninh!

Internship period is one of the most important events of senior year students and themost difficult challenge of senior year students We are students who lack of notonly experience but also knowledge and skills Therefore, this graduate internshipreport cannot finish without the help from everybody

Firstly, I would like to express my deepest gratitude to teachers, friends andfamily’s care in the past four years I am grateful to you for your help and transfer

of precious experience, which will prepare us for knowledge to have ability offacing to difficulty in the future life

Secondly, I would like to say thank you to Accounting Department in Mao KheCoal Company - Vinacomin in Quang Ninh especially to Mrs Cao Thi Thu Dung –Deputy of Accounting Department for their dedicated guidance and heartedlytraining, which contributed a lot to my working experience and learning progress.Last but at most, I would like to send my greatest thankfulness for PhD Pham DucCuong- my supervisor who teaches and supports me a lot during my internship.With his kind helps and knowledge, I may have chances to overcome difficultiesand contributed to Mao Khe Coal Company Thank you a lot, PhD Pham DucCuong

I wish my teachers have health and success in the life At the same wish of staffs atAccounting department - Mao Khe Coal Company a good health and achieved greatsuccess in their work

Sincerely

Do Thi Thuy Quyen

List of table Table 1.1: Statistic of assets in 2013 – 2015 of Mao Khe Coal Company Table 2.1: Capital structure

Table 2.2: Report of fixed capital of Mao Khe Coal Company

Table 2.3: Report of inventory Working capital of Mao Khe Coal Company Table 2.4: Investment structure in current assets of Mao Khe Coal

Table 2.5: Fixed assets

Table 2.6: The effectiveness of using fixed capital in the Company

Table 2.7: Some account balances at the end of the year

TABLE CONTEN

LETTER OF THANK 2

TABLE CONTENT 4

PART 1: OVERVIEW OF VINACOMIN– MAO KHE COAL COMPANY 6

1.1 General information: 6

1.2 History and development 6

1.3 Vision and mission 7

1.4 Products and Service 8

1.5 Organizational structure 9

1.5.1 The organizational structure of the management 9

1.5.2 Organizational Chart and descriptions of function and mission of some departments 10

1.6 Production result over periods of time 15

PART 2: REPORT OVER COMPANY 16

2.1 Overview of production and business activities 16

2.1.1 Business results of the company in 2015 and plan for 2016 16

2.1.3 Overview of production and business activities 16

2.2 Reality of capital management activity in Mao Khe Coal Company, 2013 -2015 18 2.2.1 Fixed capital 18

2.2.2 Working capital 20

2.2.3 Reality 22

2.2.3.1 For fixed capital management 22

2.2.3.2 For working capital management 29

2.4 Evaluation of capital management activity of Mao Khe Coal Company 32

2.4.1 Strengths 32

2.4.2 Weakness 32

PART 3: TARGET OF GRADUATE INTERNSHIP, TASK ASSIGNED AND METHODOLOGY 34

3.1 Target of graduate internship 34

3.2 Task assigned 35

3.3 Methodology 35

3.3.1 Time management 35

3.3.2 Remember method: 36

3.3.3 Observing method 36

3.3.4 Synthetic method 36

PART 4: ACHIEVEMENT 37

4.1 The theories, practical skills and the experiences are reminded, learned and accumulated in graduate internship course 37

4.2 Some problems and suggestion for solution 40

4.2.1 Complete directions of management Company’s capital until 2020 40

4.2.1.1 The objective of the company using capital until 2020 40

4.2.1.2 Orientations complete management of the Company uses capital until 2020 40

4.2.2 Some solutions to complete managing capital using in company 41

4.2.2.1 For fixed capital 41

4.2.2.2 For working capital 41

4.2.3 Recommendation for Mao Khe Coal Company 41

REFFERENCES: 43

PART 1: OVERVIEW OF VINACOMIN– MAO KHE COAL COMPANY 1.1 General information:

Name: Vinacomin- Maokhe Coal Company

International transaction name abbreviations: VMKC

Headquarter: Dân Chủ - Mạo Khê – Đông Triều – Quảng Ninh

Legal form: State owned enterprise

Phone number: 033 3871 240 Fax: 0333871375

Website: thanmaokhe.vn

Representative: Director Pham Van Minh

1.2 History and development

Mao Khe Coal Company belonged to the Vietnam National Coal-Mineral IndustryHolding Corporation Limited (Vinacomin), located in the Dong Trieu district,Quang Ninh Province Previous month 8-1945 it was called Mao Khe Mine Afterthe peace was restored, it called Mao Khe Coal Mine

November 15, 1954 Mao Khe Coal Mine was founded (as a member of the Uong BiCoal Company)

In 1996, Mao Khe Coal Mine was founded as a State enterprise (Decision No

2605 / QD-TCCB dated 09/17/1996 of the Minister of Industry)

From October, 2001 renamed to Mao Khe Coal One Member Limited LiabilityCompany (Decision No 405 / QD-BOD BOD dated 01/10/2001 of Vietnam CoalCorporation)

From December, 2005 renamed to Mao Khe Coal One Member Limited LiabilityCompany - TKV (Decision No 2461 / QD-Board dated 08/11/2006 of the Boardwith TKV)

From May, 8, 2010 (implementing Decision of the Board of Directors of VietnamNational Coal-Mineral Industry Holding Corporation Limited) renamed to Mao KheCoal One Member Limited Liability Company - Vinacomin

From August, 01, 2013 founded branch of Vietnam National Coal-Mineral IndustryHolding Corporation Limited - Mao Khe coal Company – TKV (called the MaoKhe coal company - TKV)

Mao Khe Coal Company is an affiliated member of Vietnam National Coal-MineralIndustry Holding Corporation Limited, has a history of over 174 years of mining.Compared to the current mines, Mao Khe Coal Company has large reserves andlarge-scale production The company is a complete production line from the stage tothe stage of capital construction of transport operators, sorting and sale of products.Undergoing 62 years of rehabilitation and development (1954-2016) nowadays, thecompany has a staff of 10,768 employees who are in charge of manufacturing andtrading of coal By the effort, the spirit of self-reliance combined with theappropriate direction, manager and employees of the company had found his owndirection to promote the development of production and business

1.3 Vision and mission

 Core values is to take quality of human resources is central to development;

quality of products and services is the business principle; image and prestigeare invaluable assets; the satisfaction of customers, partners is businessobjectives; harmonious combination between: economic interests - political -cultural - social

 Mission: Maintaining stable development, mining of coal and minerals must

be associated with environmental protection Corporations balance availableresources to invest a reasonable technological innovation, not spread, while

still ensuring the modernization goals of technology ensure safety inproduction, strict governance and save resources.

1.4 Products and Service

Mao Khe Coal Company is a large enterprise and a subsidiary of Vietnam nationalcoal-mineral industry holding corporation limited, independent accounting Currentmining production of raw coal is more than 1,680,000 tons / year These products ofthe Company appropriately provide to the industrial production sector and civilservice

Mao Khe Coal Company coal production line has a relatively complete from theirexploitation, transport and sorting to the step of loading the product consumptionassurance standards prescribed by the State

Currently in production lines of the company has been mechanized most of thesewing, stitching own furnace coal mining craft fair is also associated with drillingand blasting

Company annual investment, expand production and application of scientific andtechnical advances and new technologies at minus 80 and expanded investment atminus 150

* Business activities of the company include

- Mining and processing of coal consumption

- Construction of the mine

- Manufacturing and trading of construction materials

- Repair of mining equipment, transport and manufacturing mechanical products

- Organizing fun activities, entertainment, culture and sports

- Petrol station

- Production and business Non Dong mineral water

- Mining, business water

* Market and potential customers

Product: Coal

 Main market: domestic market Quang Ninh, foreign market China

 Potential customers: Mao Khe, Cam Pha thermal power plans

Services: Organizing fun activities, entertainment, culture and sports; services ofwater, petrol station

 Main market: domestic market Dong Trieu area and vicinities

 Potential customers: local people

Services: Repair of mining equipment, transport and manufacturing mechanicalproducts

 Main market: domestic market Quang Ninh and some provinces vicinities

 Potential customers: Dong Bac Coal Company, Tan Viet Bac LimitedLiability Company

1.5 Organizational structure

1.5.1 The organizational structure of the management

The company operates follow to model of parent company and subsidiary, in whichthe parent company is the Vietnam National Coal-Mineral Industry HoldingCorporation Limited

Due to the characteristics of company's activities in the field of exploration,exploitation and processing of minerals; wide operating areas, dispersed, manyclues, managerial model of companies is the model of council members andsupervisors

Supervisors and Director are appointed and dismissed by council members ofVinacomin.

Supporting to Director has deputy directions, chief accountant and specializeddepartments

1.5.2 Organizational Chart and descriptions of function and mission of some departments

KCM Department

 Function: manage technology of mining

 Mission:

 Planning of technology prepare for mining

 Collecting data to establish mining record

 Managing technical norms and criteria

TGM Department

 Functions: give advice to the Manager in the work of ventilation, minegas controlling; drainage and anti-water platform in the mine to ensuresafety, efficiency production

 Function: manage technology of mining

 Mission:

 Planning of technology prepare for mining

 Collecting data to establish mining record

 Managing technical norms and criteria

TGM Department

 Functions: give advice to the Manager in the work of ventilation, mine gascontrolling; drainage and anti-water platform in the mine to ensure safety,efficiency production

Surveying & Geology Department

 Functions: to advise the Manager about the work of surveying, geology anddrainage outside the mines

 Mission:

 Organizing and preparing plans, methods, document aboutsurveying and geology serving mining and manufacturing

 Forecasting about reserves and quality of coal

 Organization management of geodetic surveying, mappingresource boundaries, mining maps, cadastral maps

 Perform tasks in surveying underground and ground;measurement of the volume of product in storage

 Giving measures to prevent violations of hydrogeology,construction, water cracks, air ejector Analysis of troublefinding the causes subjective and objective to proposecorrective solutions

Investment & Environment Department

 Managing investment in working basic construction and environment

 Planning about methods of investment and performing to invest

 Building, fixing, improving the infrastructure to serve production andbusiness activities

 Holding the meeting

 Managing cars and other transportations of the company

 Fixing and buying supplies for offices in the company

Human resource management

 Function: organizing, training, developing human resource

 Mission:

 Organizing the structure of the company

 Management staff and employees, building regulationsdecentralized management, functions, duties and powers ofstaff positions, clearly defining roles and responsibilities ofeach level of employees in Public company Reviews, reviewsstaff annually.

 Construction plans for the planning, training employees in theCompany uses in accordance with the Regulation onManagement of the Company CB

Accounting department

 Function: implementation of statistics, accounting, finance to ensurethe capital for production and business activities of the Companyunder the provisions of the Law on Accounting, manual mode of theState and Vietnam National Coal-Mineral Industry HoldingCorporation Limited

 Mission:

 Planning of production and business for the company about financial,accounting fields, cost, benefit and capital

 Planning to manage and use the capital effectively

 Prepare the statistics, financial, accounting reports

 collecting, controlling documents

 inspection and supervision of transactions in the company

 evaluate accounting information and data to give the solutions servingmanaging, making decision of Director

Organizational Chart

DEPUTY DIRECTION (Technical) Investment, Environment)

Surveying & Geology Department Investment &

Environment Department Gieng Day Board of management

OR

DEPUTY DIRECTION (Cost, Labor, Salary, Life, Health)

DEPUTY DIRECTION (Production, Consumption, Security)

CHIEF ACCOUNTANT DEPUTY DIRECTION (Electrical, Mechanical, Transport, Training) DEPUTY DIRECTION (Safety, labor insurance)

Planning Department

Purchasing Department Human resource management KTP Department

Medical stations

DK Department

Security & Observing Department KCS – Consumption Department

Accounting Department

CV Department Office of company Safety & Labor insurance Department

1.6 Production result over periods of time

The first period of 5 years from 1954 to 1959, the quantity of coal had exploited justonly 280,000 tones / year

In 1960, the output of Mao Khe coal mines reached 200,000 tons / year

From 1970 to 1980, the average yield of the mine reached 500,000 tons / year

In 2001, Mao Khe Coal Mine reached capacity 1 million tons / year

In 2014, 1.95 million tons raw coal was produced, reaching 103% of the plan; 1.64million tons of consumption, turnover reached 2,000 billion, 104% of the plan

In 2015, produced nearly 1.84 million tons of raw coal, consumed 1.55 million tons,turnover reached 1.900 billion

Table 1.1: Statistic of assets in 2013 – 2015 of Mao Khe Coal Company

PART 2: REPORT OVER COMPANY

2.1 Overview of production and business activities

2.1.1 Business results of the company in 2015 and plan for 2016

In 2015, the collective of officials and employees of the Mao Khe Coal Company Vinacomin has constantly striving efforts to implement production, basicallyexceeded the planned targets of business collaboration with Industry CorporationVietnam coal Mining

-Production and business results in 2015 the company achieved and plan for 2016

1 Coal virgin total 1.718 million tons 1.850 million tons

2 Coal consumption 1,481,347 tones 1.557 million tons

3 Total revenues 1,775,635 million VND 1,901.821 million VND

5 Average income 8,528,360 VND / person /

month

11.3 million VND / person/ month

2.1.3 Overview of production and business activities

Production activities

A total of 21 factories of producing, including 13 coal mining factories, 4 diggingtunnel factories, 03 transportation factories and 01 Emergency &Ventilation factory.Basically the factories made good tunneling meters youth academy plans to ensuresufficient production area meet for exploitation

+ Mechanical: The total value of the implementation in 2015 of 50 billion / 40billion to reach 125% accountability contract year.

+ Construction: The total value of implementation is 26 billion in 2012/24 billionreached 108% responsibility contract year

+ Electric and Water: perform operational tasks power supply system in and out ofthe oven

+ Life-Services: Organization serving the diet ensures qualitative and food safety,the general implementation of the 2015 value of 56 billion / 50 billion to reach112% accountability contract

Consumption

In 2015, the company has plan in flexible working coal consumption

Results coal consumption: 1,481,347 tons / 1,395,000 tons reach 106% of the plan.Due to the Group's overall consumption to decrease coal export plan so thecompany has actively organized separating coal from raw coal 5 in vacuumfurnaces to meet customers for consumption in Pha Lai During the year theCompany has actively organized the screening 7a coal inventories last year to mixwith bran 6a, satisfy consumer requirements for Mao Khe thermal power plants,coal inventories fell The rate fell bran 6a 3.43% implementation of the planassigned group, bran Ratio rose to 5.86% 6b implementation of the plan assignedgroup

Finance and accounting

- In 2015 the situation of coal inventory increased, the average is 117 billion, at thattime it rise up to 181 billion have caused stagnation billion in working capital, affectthe rotation of short-term capital

- The company has close relations with the credit institutions to arrange sufficientfunds for the needs of business, construction, and payments to the state, superiors,customers and employees Total capital disbursed in 2015 is 209.582 billion.

- Score capital preservation in 2015 is guaranteed

- Score liabilities on equity are lower than specified

- The company has fully utilize the rotation of capital is not to overdue cases, strictimplementation of the terms of payment have been signed with partners

Managing costs

Timely deployment documents and measures to concretize plans produced through

a ceremony to launch the first competition and contracting responsibilities betweenthe director and the head of the unit

- To coordinate the technical building blocks allocation plan 4 quarter productionplan consistent allocation proportional output as Group guidelines to reducepressure production for the fourth quarter to prepare for next year production area

- Has timely decisions issued contracting costs in 2012 for the department heads andthe professional technical workshops to fulfill the work of planning, costmanagement

2.2 Reality of capital management activity in Mao Khe Coal Company, 2013 2015

-2.2.1 Fixed capital

Table 2.1: Capital structure

5 Current assets / Total

assets

Look at the table 2.1; the proportion of fixed assets / Total assets has a fluctuationwhen increasing from 2013 to 2014 and decreasing from 2014 to 2015 In 2013 is69.6%, 2014 is 71.5 %, 2015 is 59.8% Investment in fixed assets in the period oftime from 2013 to 2015 is higher than investment in current assets that means fixedassets play a important role in production and business processes of Mao Khe CoalCompany The investment gap between fixed assets and Current assets in 2014 islarge, investment in fixed assets takes 71.5% but this gap in 2015 this gap hasnarrowed significantly when the investment rate is 59.8% for fixed assets and40.2% for current assets

Table 2.2: Report of fixed capital of Mao Khe Coal Company

Unit: VND

Targets

Year

Original price of Fixed assets (VND)

Depreciation (VND)

Residual value (VND)

2013 1,113,770,000,000 421,130,000,000 692,634,000,000

2014 1,423,440,000,000 525,480,000,000 897,995,000,000

2015 1,265,120.000,000 663,540,000,000 601,575,000,000

Table 2.2 shows the fluctuation of fixed assets From 2013 to 2014, Original price

of Fixed assets increases by 309,670,000,000 VND (from 1,113,770,000,000 VND

to 1,423,440,000,000 VND) In 2013, Original price of fixed assets decreases to1,265,120.000,000 VND

Depreciation of fixed assets is to decrease the use value and value or decrease thevalue of fixed assets In the course of engaging in production and businessactivities, are most affected by many different causes that fixed assets wereeventually wear out There are 2 types of fixed assets ‘depreciation: tangible andintangible depreciation

Table 2.3 shows the situations of Working capital of Mao Khe Coal Companyincrease continuously Compared with 2013, working capital in 2014 rises by57,110,000,000 VND; 2015 rises by 56,994,000,000 VND.

Table 2.4: Investment structure in current assets of Mao Khe Coal

Table 2.4 shows the structure of investment in the current assets of the company

Cash: Includes cash in safes, cash in transit, bank deposits and other cash

equivalents Money reflects the solvency of the enterprise, reflected a part on thework of mobilization and using of corporate funds In 2012, cash takes the biggestproportion in the structure of current asset 41.3% However it reduces strongly overthe year 2013, 2014, 2015 in low level is 6.6%, 1.5%, and 16.1% respectively 2011was the year in which the share of cash in the structure of current assets at very lowlevels and the lowest in recent 4 years