Báo cáo thực tập kế toán tại công ty cổ phần 473 INTERNSHIP REPORT AT NO. 473 JOINT STOCK COMPANY

CHAPTER 1: OVERVIEW ABOUT NO.473 JOINT STOCK COMPANY 1.1. History and development of No. 473 joint stock company 1.1.1. General information 1.1.2. The Establishment and Development 1.2. Business activities 1.2.1. Characteristics of business 1.2.2. Business organization 1.3. Management organization 1.3.1. Model of management organization 1.3.2. Functions, responsibility of departments CHAPTER 2: ACCOUNTING DEPARTMENT AND ACCOUNTING SYSTEM AT NO.473 JOINT STOCK COMPANY 2.1. Accounting Department of NO.473 COMPANY 2.2. Accounting System at NO.473 COMPANY 2.2.1. Accounting Policies 2.2.2. Accounting documentations 2.2.3. Chart of accounts 2.2.4. Accounting Books 2.2.5. Accounting Reports CHAPTER 3: ASSESSMENTS AND RECOMMENDATION ABOUT NO.473 JOINT STOCK COMPANY 3.1.Assessments 3.1.1. Advantages 3.1.2.Disadvantagesand the causes 3.2. Recommendations 3.3. Conditions for appling the recommendations CONCLUSION REFERENCES

INTERNSHIP REPORT AT NO 473 JOINT STOCK COMPANY

TABLE OF CONTENTS

CHAPTER 1: OVERVIEW ABOUT NO.473 JOINT STOCK COMPANY

1.1 History and development of No 473 joint stock company

1.3.1 Model of management organization

1.3.2 Functions, responsibility of departments

CHAPTER 2: ACCOUNTING DEPARTMENT AND ACCOUNTING SYSTEM ATNO.473 JOINT STOCK COMPANY

2.1 Accounting Department of NO.473 COMPANY

2.2 Accounting System at NO.473 COMPANY

List of abbreviations

2 2935/QĐ-BGTVT 2935/Quyết định- bộ Giao thông Vận tải

(Decision no 2935 of Misnitry of Transport)

6 Circular 200/2014/TT-BTC

on guidelines for accounting

policies for enterprises

200/2014/TT-BTC : 200/2014/thông tư-Bộ Tài chính

List of tables and diagrams

Table 1.1 Company’s main activities

Table 1.2 Company’s main activities

Table 1.3.Foreign joint venture companies in some projects

Diagram 1.1 Diagram of management organization

Diagram 2.1.Diagram of accounting syste

Picture 2.1 CADS 2008 interface

Diagram 2.2.The process of transferring documents

Diagram 2.3 The process of recording account on computer

Diagram 2.4 The process of transferring documents in salary and wage

Diagram 2.5 The process of transferring documents in material and equipment

accounting

In the market economy with the management of State-oriented Socialism, theconstruction industry is an important sector, which is one of the factors to contribute tothe growth of country With the fast development currently, the mission of constructionindustry is not simple but we believe that with the experience, construction industry willachieve the goal of national economy

To achieve that, the construction industry in general and businesses in spectific have todepend on many different factors.nterprises need to be really dynamic, constantlyinnovate, develop their potential and their strengths, , which are the determinants ofsuccess in the competition to win the favor on the market

Recognizing the important issues mentioned above, No 473 Joint stock companyconstantly innovate and develop their potentials and strengths to suit the actual situationand the development of the country

Especially in accounting system of company , No 473 JSC have a full and completedaccounting system that I have learned so much while I was interning in No 473 JSCUsing the knowledge that I has been teached at the school, along with the enthusiastichelp of the functional departments of No 473 JSC - where I have interned - I'm pleased topresent my report

My report is divided into 3 chapters:

- Chapter 1: Overview about No 473 joint stock company

- Chapter 2: Accounting department and Accounting system of No 473 joint stockcompany

- Chapter3: Assessments and Recommendations about No 473 JoinStockcompany’s accounting system

Chapter 1: Overview about No 473 joint stock company

1.1 The History and development of No 473 joint stock company

1.1.1 General information

- Trade name : JOINT STOCK COMPANY No.473

- Address : 07 – Nguyen Canh Hoan street – Vinh city – Nghe Anprovince

- Director : Mr Nguyen Xuan Hai

-1.1.2 The Establishment and Development

- Development process:

 Former of No 473 JSC is the 71A company which was founded in 1973

by Ministry of Transport The 71A company incharged of ensuringtraffic in the IV area

 July 1977 ,the 71A company merged with No.871 company and took thename No.773 company

 August 1978, No.773 company merged with No.869 company andnamed No.473 company

 On 15th June, 1993,No.473 company officially established under the QĐ– TCCB – LĐ decision of the Ministry of Transport

 November 2002, No.473 company merged with No.480 companyunder decision no 3871 of Ministry of Transport

- ActivitiesSummarizing some current projects of No 473 JSC :

Table 1.1 Company’s main activities

Table 1.2 Company’s main activities

- Achievements

 01 Independence Medal Second Class (2013)

 01 Independence Medal Third Class (2002)

 04 Labor Medals First Class (1976,1985,1990,1995)

 05 Labor Medals Second Class (1973, 1974.1990, 1994 )(which has 1Medal for individual)

11 Labor Medals in 1975, 1980, 1983, 1990, 1993, 2001, 2013(which has 5 Medals for individuals)

 211 Medals of Resistance against American to save country

 05 Souvenir flags were given by Prime Minister as awards (1976,

to create more capital for business activities

 Production and trading of construction materials

 Export and import materials and equipment of transportation

 Construction of 35 KV power substations and lines

 Testing of building materials and quality of traffic construction

 Designing traffic construction

 Real estate business

 Services, trading , supply of materials business

 Rental services1.2.2 Business organization

- Competitive tendering process (8 steps):

Step1 : Preparing for bidding

Firstly , marketing department research information aboutconstruction projects that suitable to company’s condition andrelation

Secondly , company has to make examination of the tenderdocuments, quantity surveying, building construction plan

Thirdly ,maketing/sale department research for market prices, andbuilding the estimation

Last but not least ,make analysising of cost and company’s condition

to decide price

Step2 : Analysis and sign contract

After being announced successful bidding ,managers and somedepartments prepare necessary documents to sign contract

All department participate in giving adivices to complete a legalcontract which give the most benefit for company

Step 3: Building construction plan

After signing the contract, company receive designing files ,documents and estimate the quantity of the contruction

Next ,make research about the process of manufacturing technologiesand installation

Finally , establish the measures for construction

Step 4 : Planning about human resources, managerment , safety ,equipment, supplies , tools and capital for the construction

First of all,based on designing file and construction plan , Technicaldepartment make plan about human resources and equipments thatthe project will need

Secondly ,Financial Accounting department make plan for capital andcost needed for the project

Finally ,HR department manager and distribute employees andworkers to construct

Step 5 : Distributing workers, machines, supplies and construction cost

At first ,company have to assign work item to construction teamsThen based on the measures of construction plans, all departmentmeet the construction requirement

Step 6 : Processing to construct

Building/construction teams follow the measures to construct onstruction team leaders are responsible to company about schedule,quality, testing and handover product according sequential basicconstruction

Step 7 : Testing:

First, Product quality control committee was established to ensureconstruction’s quality (daily or weekly )

Second, Safety committee in charge of labor safety

Step 8: Making construction finalization and contract liquidation

Construction finalization will be checked by both sides Based on theapproval from both sides , contract liquidation will be formed

- Product distribution services :

Due to construction industry’s speciality, No 473 JSC ‘s productdistribution service is direct to the clients because the completeproduct is construction works or equipment

There are some foreign joint venture companies , but no intermediateparties :

Table 1.3 Foreign joint venture companies in some projects :

No Contruction’s name

and place Foreign joint venturecompanies The length Value(USD)

1 The 25 bridges on

National Route 1A,

from Can Tho to

HCM city

SAMWHANKOREA

Diagram 1.1 Diagram of management organization Note:

Direct management : Functional management :

- Description

No 473 JSC's managerment system is all the power focus under 1 person– Director Three deputy director will help the director in managingbusiness and employees , offering the solution and advices, thepolicies, In addition, the complex problems or important issues will bedecided by Board of directors

Main roles of each position :

appointed by the CEO of Construction 4 Coproration Director is

directly responsible for all the activities and results of company’sactivities to the State

company, on behalf of the manager business when director is absent

and develop the company's capital

 Head of department directly manage, supervise and distribute tasks

Sale department also is a very important department in company.

First role of sale department is to develope strategies for company’s

development, market expansion Second they set up projects, buildlong-term and short-term business plans.At the same time they set upthe process of business tasks and provide datas to director

Beside that, sale department is responsible to the Director of the

bidding documentation, planning and directing to ensure the qualityand progress of works In addition, they give advice to director onsigning financial contracts Finally, they in charge of managingprofit

This department is responsible for ensuring capital for production andbusiness activities, balancing between receipts and payments,handling the information of capital, collecting documents, organizingproduct costs of each work items, defining income

Overall responsibility:

Accountants plan loans for short,medium and long-term to producing

on time Tracking the increase and reduction of the fixed assets,selecting the appropriate depreciation method , gathering repair costfor fixed asset to distribute into production costs Every month,accountants makes sure the salary distribution is fair and reasonable.Main roles:

 Giving advices to the director on financial management andproposing solutions to improve the efficiency of capital and assets inthe company

 Developing policies on financial and accounting transactions withinthe No 473 JSC Providing money on time and correctly forcompany’s activities Preparing the financial statement on time

One of Material and Equipment Department’s responsibility is to givethe director advice on managing and using company’s supplies andequipment Moreover they plan inspection, repair and maintain thetechnology systems of company Proactive to seek for materialsources, ensure the quality of materials for using inconstruction.Finally they in charge of arranging supplies andmaterials into the warehouses

Firstly HR Department organize the labor sources logically (training,

…), build labor’s norms and salary

Secondly they are responsible for the implementation of policiesabout environment, healthy and safety work place in No 473 JSC.Establishing HR policies and how to manager employee, policiesabout preserving documents and managing employees’s profiles andcontact list

Finally, they supply office equipment, managing internal’s paperworks and external relations

This is the department which directly build construction, mobilizingavailable resources of human resources ,capital, supplies,tools,equipments to complete the construction

Chapter 2: Accounting department and Accounting system of No 473 joint stock company

2.1 Accounting Department

Diagram 2.1 Diagram of accounting system in No 473 JSC

- Functions of each accounting section

company Accountants’s duties have close relationship with eachother, which help chief accountant know the financial situation ofthe company clearer and faster At the same time,chief accountant

is responsible to director about company’s financial situation,accountants’s professional skill, Financial statement and reports ,balance sheet of the company

charger of general accounting At the end of each accounting

check and record general ledger, nominal ledger detailing costunder each item

and export supplies, fixed assets, depreciation of fixed assets Onthe other hand, fixed asset and material accountant also have torecord account payable for the suppliers

handle internal payment under each work item In the end of eachmonth , based on payment document to distribute salary foremployees

cash in bank

 Cashier directly manage cash, perform the payment with cash

when it has appropriate documents ,record cash in memo toreconciliate with internal accountant

document into detailing ledger Report for accounting departmentmonthly Manage employees’s salary in each team

2.2 Accounting system

2.2.1 Accounting policies

- Current policy in accounting : Circular 200/2014/TT-BTC on guidelinesfor accounting policies for enterprises

- Fiscal Year: 1st January to 31st December

- The principle and method of converting other currency into VietnamDong : According to the rates specified by Vietcombank in the time ofarising

- Applicable accounting form: General journal

- Applicable accounting software : CADS 2008 – this software is suitablewith a construction company , include sections such as: Data miningsystem, general accounting, accounting and detailed reports , financialstatement,…

Picture 2.1 CADS 2008 interface

 Principle: determined by the actual price

 Valuing inventory : First in First out

 Tax method : the method of deduction

 Inventory accounting methods: Perpetual method

 Calculating VAT : No473 JSC use deduction method2.2.2 Source of documents

- Current policy applied in documents : Circular 200/2014/TT-BTC onguidelines for accounting policies for enterprises

- No 473 JSC’s own documents:

2.2.3 Chart of accounts

- Accounts that No473 JSC DOESN’T use :

 Account 1113 : Gold, metal, precious stone

 Account 1123: Gold, metal, precious stone

 Account 113 : Cash in transit

2.2.4 Accounting books

Everyday, accountants base on accounting documents or accountingdocuments sheet, which is used as the basis for accounting book, identifydebit, credit to import data into the computer , form is designed on acomputer

According to the process of accounting software, the information isautomatically entered into the nominal ledger and related accounting report

In the end of the month, accountant perform closeout accounting book andstart making financial statement The comparison between the datacompiled with the detailed data is done automatically and ensures accurateaccording the information has been entered in the period

In the end of the month/ the year, nominal ledger , general ledger anddetailing ledger is printed in to books to perform legal actions

- The process of transferring document

- The process of transferring document