Báo cáo thực tập tiếng anh INTERNSHIP COMPANYINSTITUTION PVcomBank

VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL *** GRADUATE INTERNSHIP REPORT INTERNSHIP COMPANY/INSTITUTION: PVcomBank Address: 22 Ngo Quyen Street, Hoan Kiem District, Hanoi Supervisor: Mr Pham Duc Cuong Student’s full name: Le Ngoc Dung Student’s ID: 11071225 Major: International Business Class: IB2012B Hanoi, 10 March,2016 ACKNOWLEDGEMENTS The Graduation Internship Report is an important part in my five-year course at university In the implementation of my report, I have received a lot of kind assistance and professional support from many people who helped me accomplish this study It is a pleasure to convey my deepest gratitude to them First of all, I would like to express my deepest thank to the leadership of PVcomBANK and staff of the faculties who have wholeheartedly created good conditions for me to have a professional internship position Without their help, I could not have become I am today Especially, I would like to thank all members in Vietnam Mass Joint Stock Commercial Bank - PVcomBank as well as coworkers in all departments who have completely supported me during my internship time at the company Secondly, I would like to send my deep and sincere gratitude to Mr Pham Duc Cuong – my advisor for his wide knowledge, valuable supervision, heartfelt guidance and enthusiasm that provided a good basis for the report He is the person who made clear my confusion of initial ideas, step by step guiding me during my writing the report I own him a debt of gratitude that cannot be measured Thirdly, I should also express my thanks to my family and my friends for their support, encouragement and patience during the implementation period of this internship report Although I have made careful researches about the topic, mistakes may appear here and there through this report Therefore, I am looking forward to receiving comments from all my teachers and friends I sincerely thank you! Hanoi, March 10, 2016 Student Le Ngoc Dung TABLE OF CONTENT CHAPTER 1: The overview of pvcombank 1.1 Establishment History 1.2 Functions, tasks and organizational structure 1.3 The structure of the management apparatus of the Vietnam Mass Joint Stock Commercial Bank 1.4 Operation Resulf in period of 2013 -2015 CHAPTER 2: Business Production Operation Of Pvcombank 2.1 Overview of business production operations 2.2 In-depth analysis: organization of accounting in pvcombank 2.3 Reality review accounting organizations working in stock commercial bank public vietnam CHAPTER 3: Details of internship 3.1 Ojectives 3.2 Practical Skills CHAP 4: Achivements 4.1 Theoretical knowledge 4.2 Practical experiences 4.3 Contributions 4.4 Assumptions and Solving methods in future CHAPTER 1: THE OVERVIEW OF PVCOMBANK 1.1 Establishment History  Being established under Decision No 279 / GP-NHNN dated 09/16/2013 of the State Bank of Vietnam on the basis of consolidated Financial Corporation Shares Petro Vietnam (PVFC) and Joint Stock Commercial Bank for the West (Western Bank - WTB)  Vietnam Petroleum Finance corporation has precursor of Petroleum Finance Company - is a member of 100% state capital of the National Oil and Gas Group of Vietnam  PVC officially put into operation in the form of company shares from March 18, 2008  PVcomBank has total assets reached nearly 100,000 billions VND, 108 outlets in the major cities across the country, high- quality human resources, diverse products and services  Company's name: • Vietnamese Full name: Vietnam Mass Joint Stock Commercial Bank • The name in English: Vietnam Public Bank • Short name: PVcomBank  Address: 22 Ngo Quyen - Hoan Kiem - Hanoi  Phone: (04) 3.9.426.800  Fax: (04) 3.9.426.796 - (04) 3.9.426.797  Primary services: • Mobilizing and receiving short term, medium term and long term from organizations and individual • Carrying out foreign currency transactions; services, international trade financing; discount commercial paper, bonds • Providing payment services and other banking services allowed by the State Bank 1.2 Functions, tasks and organizational structure 1.2.1 Functions and duties of VietNam Mass Commercial Joint Stock Bank  Mobilizing capital: • Receive term deposits, term deposits, savings deposits and other deposits; • Issuance of certificates of deposit, bonds, treasury bills and bonds to raise funds in the country and abroad; • Borrowings from banks, financial institutions in the country and abroad in accordance with law and the guidance of the State Bank of Vietnam  Opening an account: • Open an account at the State Bank and maintain deposit accounts in the average balance not less than the reserve requirement; • Opening accounts at other credit payments; • Opening of deposit accounts, payment accounts abroad under the provisions of law on foreign exchange; • Opening accounts for customer payments; • Providing the means of payment; • Organizing and participating in payment systems • Providing payment services: Perform domestic payment services including checks, payment orders, authorizations, collections, entrusted with the collection, letters of credit, bank cards, collection services and payment ; • Implementing of the international payment services  Providing credit in the forms: • Loan; • Discounting, re-discounting of negotiable instruments and other valuable papers; • Bank guarantee; • Guarantees domestic payment, international factoring  Investing and advicing: • Contribution of capital to purchase shares under the provisions of law and the guidance of the State Bank of Vietnam; • Corporate Finance Advisory, consulting purchase, consolidation, merger and investment advice; • Buying and selling government bonds, corporate bonds 1.2.2 Characteristics of customers: Customers have a great influence on the quality of service that is the success factor for business operations of PVcomBank Customers are classified as follows: • Large Business Customers: as the Corporate Banking revenue of the preceding year on 50 million • Client Enterprise is the small and medium enterprise with the preceding year revenue from 01 to 50 million • Personal Banking: as individuals, individual business households, micro enterprises had revenue of the preceding year less than 01 million • Financial Institutions: as financial intermediaries, including credit institutions, securities companies, insurance companies, fund management companies, investment funds and other forms prescribed by law • Organization of public finance: as the agencies, units, organizations under Government / non-governmental domestic and international implementation of public finance activities 1.3 The structure of the management apparatus of the Vietnam Mass Joint Stock Commercial Bank  Leadership is responsible for the daily operations of PVcomBank Leadership includes General Director and Deputy General Director and Director of the blocks  Head of Business Development department includes parts business serves directly at the head  Business Support Group - Management Division: work and application of information technology; training in order to constantly improve the quality of personnel; market development activities to consider offering new products, 10 competition in the financial markets; Develop a financial plan, synthetic records data on accounting, settlement and reporting  The branch and the member division: including 108 outlets concentrated in the North, Central, South and member companies 1.4 operation result in period of 2013 -2015 On investment, the balance of investment securities and long-term investment capital contribution increased 10 689 billion in 2014 compared to 2013, mainly due to bond investors and investment state bank bills The portfolio structure is then consolidated banks continue to implement and achieve the transfer value of 934 billion shares worth investment projects PVcomBank has drastically restructured asset portfolio, particularly the portfolio through the sale of a large stake, payback to the accounting balance sheet and healthy Figure 1.4: Business operation result in 2013 – 2015 of PVcomBank No Criteria Total assets 101,124,283,703 97,542,194,809 97,624,127,284 Total equity 9,555,807,886 9,693,981,496 9,453,996,121 Total debt 98,997,675 98,092,737 88,935,714 total deposit 102,983,114 101,911,737 98,779,340 Total loans 47,755,275,389 46,464,077,92 41,614,718,862 Profit before -33,659,621 162,232,686 140,664,873 tax 2013 2014 2015 24 Category 6: Sources of equity Type 7: Income Type 8: Costs Currently, the use of two systems PVcomBank detailed accounts corresponding to two FLEXCUBE and software and associated Microbank (map) with the system account of the State Bank Accounting accounts system at PVcomBank are applied Quarterly, General Accounting Division - Finance Division issued accounting guidance system settlement with settlement form for the entire system, ensuring the accounting staff at branch and head office to understand and nuts consistently accounting for all operations arising 2.2.4 Organizations applying the system of accounting books and accounting forms  Every day, data from customer transactions conducted on electronic devices are connected with the PVcomBank accounting software, accounting software program will automatically handle, updated figures on the books and cards detailed accounting and general accounting records  The reconciliation check transaction documents, accounting books and accounting reports comply with the provisions of PVcomBank operations • Based on the report of the listed documents management module internal and general accounting, the accounting documents generated and completed by date sorted and fully checked original documents duly signed by the establishment, control before closing for storing and preserving the provisions of the accounting Law • Auxiliary accounting books: the detailed accounting book (designed according to the common form) of all accounts, shown: beginning balance, amounts arising (debt, any) in the period (listed transactions services are recorded at the period), the total incurred during the period and ending balance 25 Accounting reference implementation, controls on accounting ledger account for each account figures on account balance statements to ensure consistency of accounting beginning balance, liabilities incurred, arising Yes, No ending balance 2.2.5 Established and analysis of financial statements and other reports Financial reporting system Vietcombank strict comply under accounting system in general and banks in particular accounting such as accounting balance sheet, report business results, cash flow statement The main controling step in the work of closing and financial reporting (financial statements) as follows: Key Steps The main controling procedures Bank has adopted two accounting systems detailed accounts inherited from PVfC and Ensure that WTB Before merging the two units issued detailed accounts system suitable for the accounting purpose and characteristics of each unit, the manual system of accounting for each records are account Quarterly, Accountant General Department issued guidance settlements form accurate the settlement system for the entire system, ensuring the accounting staff at branch and Accounting head office to understand and consistent accounting for all all transactions Automated accounting system for business: provision incurred, assess the results of journal foreign currency trading and foreign exchange, the transfer of income - cost foreign entries currencies into VND automatically Check the transactions of the day Export table to try to balance the At the end of the day, accountants and departments transaction listed in the last trading day and put the transaction documents generated during the day The entries are recorded in the ledger after being approved by the competent authorities on the system and original documents The accounting department implement and check the balance in the account on the balance sheet accounts: - system control beginning balance: Balance (internal, external tables) beginning this period of each account must match with the balance (internal, offbalance sheet) at the end of each period the previous corresponding account - Check on balances incurred if the balance on the canceled account to find out the causes and coordinate with relevant departments to carry out 26 timely adjustments - Check account balances nature - Check the weight matches the case of the balance sheet test If the balance is not due to the fault of the system, Accountant General Department request to modify the Information Technology Division to make edits - Opening balance of the account on the balance sheet must be in balance this year end accounts on the balance sheet last year and the beginning balance of the account on the balance sheet in January this year Closing balance of the account on the balance of the year to the end of the balance in the account on the balance sheet in December The internal accounts accounted for on a number of separate accounts will be netted off manually when the financial statements The financial statements are prepared by the accounting department synthetic and be retested by Deputy Head of Accounting and Chief Accountant final test before the Executive Board Prepare reports For the consolidated financial statements: General Accountant Division collects financial statements and notes to the financial statements in accordance with the settlement form for the banking system from the subsidiaries Integrated Accounting Department checks the validity of the form to receive and execute the control of the offsetting entry for the purpose of the consolidated financial statements To sum up the Accounting Department and Deputy Board notes accountant and chief accountant to check one last time before the Executive Board The forms shall be made manually, after being made will be verified by the deputy, Chief Accountant and Chief Accountant Integrated final test before the Board Notes to the The notes of financial statements has been compiled from detailed data on the form the financial settlement system by units, branch establishment Integrated Accounting Department statements is responsible for review and reconcile the data, evaluate the accuracy and reasonableness of data compared with the financial statements and the previous year's figures 2.2.6 Organization of accounting examination: 27  Check the records of its transactions arising out of accounting documents, accounting books and accounting statements to ensure proper implementation of the regime, the financial management policies of the state and the specific provisions and the business sector  Check the direction of the organization of accounting in the bank, check the results of the work of accounting, public relations operation between the accounting department together with the department and other related functions • The inspection bank internal accounting by the General Director and Chief Accountant is responsible for organizing and directing • Test method primarily applicable reconciliation: reconcile the data between accounting documents, accounting books and accounting statements • Chief accountant based on the actual situation of the team of accountants to arrange, organize accounting inspection appropriate for each phase to ensure the accounting records give a true and objective all activities in banking The rotation and control documents in the post-inspection department:  Communications - receive training vouchers, records and reports: • Receipt of the documentation and reporting practice of the room / ban / block, the branch; • Receive files and documents of the transaction report; • In the report date; • Save vouchers • Control of vouchers: • Check your compliance documents mode; • Check transaction limits; • Check the validity of transactions  Handling errors detected in the post-inspection process: • In the post-inspection process, if it detects abnormal circumstances (lack of documents or the customer's signature, signature or doubts about the 28 authenticity of the transaction ), post-inspection department in collaboration with the relevant department to confirm the transaction, reporting and chief Accountant / Head of internal Audit Committee / Board of directors to verify to ensure the safety of assets • In case of detecting errors in the preparation of documents, conduct transactions, wrong account whose balance nature 2.2.7 Organizations applying information technology applications in accounting:  Software FLEXCUBE: • Multi ofsset temple entry; • Single entry; • Subsystem fixed assets: Fixed Assets, advancing Subsystem - Mis cellaneous credit GL  Subsystem Deposit (Deposit), including: • Term deposits: CAS; • Deposits with terms of payment of interest following: FDS; • Term deposits with interest payment in advance: CDS;  Management Subsystem bonus: WMS;  Management Subsystem collateral: CLS;  Credit Analysis Management System: LMS;  Subsystem general accounting resources: GLS;  Subsystem transfers: RMS;  Management Subsystem business and capital: TRS;  Management Subsystem advance and payment: APS;  Management Subsystem funds: CMS;  General functional module (module reports): CFS 2.3 Reality review accounting organizations working in stock commercial bank public vietnam 2.3.1 Result 29  On the legal framework: Before renovation requirements of the economy, state and professional associations have really cared for accounting work, often supplementing and modifying the content of Vietnam accounting system in line with the economic development and compliance with the standards, international accounting principles  On organization of accountants: PVcomBank have built a voucher system is relatively tight, in compliance with the regulations of the State and in line with its operational processes 2.3.2 Existing limitations: There are some professional PVcomBank want to track detailed account but no guidance for accounting as working tools on accounting purchased directly at the production cost, but no financial reuse Clause track; or the account into account the intermediary also no specific regulations, lead to the improper accounting of many properties of the account Chapter 3: DETAILS OF INTERNSHIP 3.1 Ojectives:  Learn to apply real banking procedures: as I taught before at school, banking transactions was quite complicated I came to PVcomBank for intership so as to get familiar with every stages of a banking process  Enjoy professional practice working environment: Have not had experiences working in real bank just research and practice basing on theorical knowledge foudation from university Thus, I need to go to real environment where i could use the skills that i’ve learn such as: communication, presentation as well as time management Trying to work in group of people also is a good experience i expect It helps me to raise my self-esteem as well as let me know how to control my ego to please my boss and colleagues  Have chances to practice more technical digital skills such as typing Word Office to draft papers, Excel for table, Figures and Power Point for presentations of showing ideas or illustration of plan and report 30 3.2 Practical skills I have achieved several quatifications and practice working skills during the time of intership:  Time management: Due to nature of job, I have to be appropriately on time for the whole process  Analysing data, number and fingures: I am allowed to access to source of information of the bank Thus, gathering, collecting and managing papers and documents in order to prepare for completes commercial transactions  Business communication: Because there are a lot of people in the bank, I have to pratice to communicate with the others I had chances to use my major terminologies I had thought to be no circumstances to practice them 3.3 methods of plementation  To complete the assigned task which is to welcome customers, record data and write financial reporting, the writer has to:  Go to work at 7:30 in the morning  Prepare tea  Record the gist during the dialogue  Give information into a computer 31 Chap 4: ACHIVEMENTS Through the course of a eight-week internship at the PVcombank, specialize in accounting has brought to writer valuable experiences while working in an banking environment Besides, the writer learns a lot of experiences about the professional business and applys some theories from univerity to reality during internship 4.1 Theoretical Knowledge The theories applied from the learning process at school for internship include:  crediting operations  investment operations  Foreign business operations  money deposit  banking activities 4.2 Practical Experiences  How to write email to offer partners  How to write the financial reports 32  How to solve problems in trading  How to attract customers to the bank  How to communicate with colleagues 4.3 Contributions  finding customers  Summarizing transaction data per day  Designing staff network model for Financial Accounting Office 4.4 Assumptions and Solving methods in future The system of Vietnam commercial banks has the constant development both in terms of volume and surface Competitive process going on a drastic way between commercial banks, especially in the context of integration and globalization trends of the current shares, the commercial banks are facing many challenges Therefore, innovative economic tools that streamlined accounting work is a requirement imposed on commercial banks in whole and in VietNam Mass Joint Stock Commercial Bank in particularly Therefore, in order to develop, PVcombank should:  Firstly, systematize and clarify the theoretical issues on organizing the work of corporate accounting The problem is scientific research, facilitate awareness raising arguments in policy making macroeconomic management Also thesis presented and analyzed the role of financial accounting and management accounting in providing information for administrators, help managers in businesses more aware of the importance the organization accounting for corporate governance  Secondly, through a field survey on the organization of accountants in Mass Commercial Bank of Vietnam, the thesis analyzed the advantages, limitations and primary cause of the limitations of public institutions accounting The remarks, assessed objectively, to help managers see clearly the nature of banking governance recent years, from which positive measures governance innovation 33  Thirdly, on the basis of theoretical studies and practical, the thesis has proposed the complete assets of the organization of accountants to provide information in a timely manner, complete and honest for business management in making the optimal business decisions 34 REFERENCES PVcomBank, Annual Financial Report in 2013, 2014, 2015 PVcomBank, Policies & Regulations PVcombank.com.vn, (2015) INTRODUCTION ABOUT ACTIVITIES | PVcomBank [online] Available at: http://www.pvcombank.com.vn/so-do-tochuc.html [Accessed March 2014] PVcomBank.com, (2015), INTRODUCTION ABOUT ACTIVITIES | PVcomBank.com [online] Available at: http://cafef.vn/tai-chinh-nganhang/pvcombank-tong-tai-san-va-huy-dong-von-giam-manh-trong-6-thang-daunam-20150806090048197.chn [Accessed August, 2015] PVcomBank.com, (2015), INTRODUCTION ABOUT MARKETING ACTIVITIES| PVcomBank.com [online] Available at: http://antt.vn/pvcombanktrien-khai-chuong-trinh-tuoi-nhan-doi-thuong-nhan-ba-0112501.html 35 SOCIAL REPUBLIC OF VIETNAM Independence – Liberty - Happiness VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL Schedule of the graduate internship Internship Company/Institution PVcomBank Supervisor: Mr Pham Duc Cuong Student’s full name: Le Ngoc Dung Student’s ID: 11071225 Class: IB2012B Major: International Business……………………………………… Week Date Tasks performed 19/01/2016 Reading contracts, summarize total number of ending data in day 22/1/2016 Checking documents 26/1/2016 Checking and editoring draft contracts 17/02/2016 Copying and storing necessory data 29/02/2016 - Do more digital tasks like using Microsoft office tools : word Excel - Support Administrative and HR department in documents, store papers 36 37 38 [...]... 34 REFERENCES PVcomBank, Annual Financial Report in 2013, 2014, 2015 PVcomBank, Policies & Regulations PVcombank. com.vn, (2015) INTRODUCTION ABOUT ACTIVITIES | PVcomBank [online] Available at: http://www .pvcombank. com.vn/so-do-tochuc.html [Accessed 9 March 2014] PVcomBank. com, (2015), INTRODUCTION ABOUT ACTIVITIES | PVcomBank. com [online] Available at: http://cafef.vn/tai-chinh-nganhang /pvcombank- tong-tai-san-va-huy-dong-von-giam-manh-trong-6-thang-daunam-20150806090048197.chn... of a eight-week internship at the PVcombank, specialize in accounting has brought to writer valuable experiences while working in an banking environment Besides, the writer learns a lot of experiences about the professional business and applys some theories from univerity to reality during internship 4.1 Theoretical Knowledge The theories applied from the learning process at school for internship include:... PVcomBank. com [online] Available at: http://cafef.vn/tai-chinh-nganhang /pvcombank- tong-tai-san-va-huy-dong-von-giam-manh-trong-6-thang-daunam-20150806090048197.chn [Accessed 6 August, 2015] PVcomBank. com, (2015), INTRODUCTION ABOUT MARKETING ACTIVITIES| PVcomBank. com [online] Available at: http://antt.vn/pvcombanktrien-khai-chuong-trinh-tuoi-nhan-doi-thuong-nhan-ba-0112501.html 35 SOCIAL REPUBLIC OF VIETNAM Independence... accounting system of credit institutions When there is a change, additional accounting system written circulars guidance, PVcomBank are updated and applied in a timely manner 2.2 In-depth analysis: organization of accounting in pvcombank 2.2.1 The organization of the accounting In PVcomBank, Finance and Accounting Division are under the supervision and management directly by the Director General Division... http://antt.vn/pvcombanktrien-khai-chuong-trinh-tuoi-nhan-doi-thuong-nhan-ba-0112501.html 35 SOCIAL REPUBLIC OF VIETNAM Independence – Liberty - Happiness VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL Schedule of the graduate internship 1 Internship Company/Institution PVcomBank 2 Supervisor: Mr Pham Duc Cuong 3 Student’s full name: Le Ngoc Dung Student’s ID: 11071225 Class: IB2012B Major: International... conducted on electronic devices are connected with the PVcomBank accounting software, accounting software program will automatically handle, updated figures on the books and cards detailed accounting and general accounting records  The reconciliation check transaction documents, accounting books and accounting reports comply with the provisions of PVcomBank operations • Based on the report of the listed... compliance with the standards, international accounting principles  On organization of accountants: PVcomBank have built a voucher system is relatively tight, in compliance with the regulations of the State and in line with its operational processes 2.3.2 Existing limitations: There are some professional PVcomBank want to track detailed account but no guidance for accounting as working tools on accounting... intermediary also no specific regulations, lead to the improper accounting of many properties of the account Chapter 3: DETAILS OF INTERNSHIP 3.1 Ojectives:  Learn to apply real banking procedures: as I taught before at school, banking transactions was quite complicated I came to PVcomBank for intership so as to get familiar with every stages of a banking process  Enjoy professional practice working environment:... not meet profit expectations  Services: PVcombank promote activities card services, electronic banking, investment and perfect technology support system for business cards Arrange funding for the project of Vietnam Oil and Gas Corporation, actively seeking partnerships and new projects Improve and develop services that meet customer needs  Business management: PVcombank has considered the role of accounting... information technology available to create a platform to develop new products, improve the quality of customer service  Expanding and developing the network: PVcombank has launched a series of new branches in the provinces of Thai Binh, Nghe An, Quang Ninh, Khanh Hoa, Dong Thap, Long An, Tay Ninh, HCM ,bringing the number of transaction points to 110 points in the bank PVCOM with 28 major provinces of the country