Kế toán chi phí sản xuất kinh doanh trong các công ty sản xuất thép việt nam trên địa bàn các tỉnh miền trung tt tieng anh

sMINISTRY OF EDUCATION AND TRAINING VIETNAM UNIVERSITY OF COMMERCE - DUONG THI MY HOANG ACCOUNTING OF THE PRODUCTION AND BUSINESS COSTS AT STEEL COMPANIES IN CENTRAL VIETNAM Major: Accounting Code: 934.03.01 SUMMARY OF THE PHD THESIS IN ECONOMICS Hanoi, 2020 The work was finished at Vietnam University of Commerce Advisors: Assoc Prof PhD Do Minh Thanh Assoc Prof PhD Ha Thi Thuy Van 1st independent reviewer:…………………………………… 2nd independent reviewer:…………………………………… 3rd independent reviewer:…………………………………… This thesis was defended at The Doctor of Engineering Committee in ……………………… at ……………… on ……………………… For the details of the thesis, please contact: National Library of Vietnam Library of Vietnam University of Commerce INTRODUCTION The urgency of the topic Production and business costs are one of the important indicators in the system of economic indicators for business management, which are of great interest to business owners Production and business cost accounting is a part of the enterprise accounting system and plays an important role in providing information about production and business costs for making the financial statement and helping managers to make planning, control and decision Therefore, accounting in general and production and business cost accounting in particular need to be completed to provide information timely, truthfully and accurately, suitable for management requirements for the company’s business decisions From the said reasons, the author has selected “Production and business cost accounting at steel companies in Central Vietnam” as the topic of the PhD thesis Overview of research situation related to the topic 2.1 The research works on production and business cost accounting in the aspect of financial accounting There have been some works related to this research topic such as Nguyen Thu Hien (2016), “Completion of accounting of production costs and calculation of product prices in the clothing companies in the area of Hung Yen City”, Nguyen Thi Dieu Thu (2016), “Completion of accounting of production costs and calculation of software product prices in software production companies in Vietnam today”, etc In general, they have generalized, analyzed, assessed the situation and showed basic limitations on expense and cost accounting at companies in related business lines For the foreign research works, Vvchudovet (2013), “Current state and prospects of cost accounting development for sugar industry enterprise” presents the current situation and factors affecting the development of cost accounting at companies Naughton-Travers, Joseph P (2009), “ActivityBased Costing: The new Management Tool” have mentioned the information and superiority of activity-based cost accounting methods Michael R Kinney & Cecily A Raiborn (2011), “Cost Accounting: Foundations and Evolutions” have mentioned the accounting of production costs in the aspects of terms of production costs, measurement, identification of cost types, activity-based costs, methods of calculating costs according to orders, production processes and analyzing expenses as the basis for making production decisions or determining the selling price 2.2 The research works on production and business cost accounting in the aspect of management accounting Cost management accounting is one of the basic contents of the organization of company management accounting in the system of accounting organization of the unit Dam Phuong Lan (2019), “Activitybased cost accounting in domestic animal feed companies”, Pham Thi Thuy (2007), “Model building of cost management accounting in Vietnam pharmaceutical companies”, To Minh Thu (2019), “Completion of cost management accounting in Vietnam paper companies”, etc have made solutions to complete and expand the research direction on the organization of cost management accounting Kaplan, Robert S.; Atkinson, Anthony (2015) have generalized and developed management accounting at companies including the role of management accounting, cost handling method, cost distribution according to ABC model, building the cost centers at companies, costs for the decision-making, method of balanced scorecard Maelah R, Ibrahim D N, (2007) have researched the factors affecting the application of ABC model in manufacturing companies A dam Paul Brunet, Steve New (2003) have researched Kaizen costing as a practice in Japanese companies Alkinson, Kaplan & Young (2012), “Management accounting” have mentioned the aspects of management accounting including the concepts of cost management accounting, methods of aggregating and allocating costs, measurement and activity accounting Charles T Horngren (2016), “Cost Accounting: A Managerial Emphasis” has emphasized the role of cost information in management accounting 2.3 The research works on cost accounting and production and business costs in the aspect of financial accounting combining with management accounting There have been some works related to this research topic in different aspects and applied application areas such as Do Thi Hong Hanh (2015), “Completion of accounting on revenue, expenses and business results at steel companies of Vietnam Steel Corporation”; Dao Thuy Ha (2015), “Completion of cost management accounting in Vietnam steel companies”; Dao Manh Huy (2016), “Completion of preparing and presenting the consolidated financial reports at steel companies of Vietnam Steel Association”; Nguyen Thi Nga (2017), “Environmental cost management accounting in Vietnam steel companies”; Tran Thi Quynh Giang (2018), “Completion of accounting information system at steel companies of Vietnam Steel Corporation” The research projects abroad include PhD thesis of Topor Ioan Dan (2013), “New dimensions of cost type information for decision making in the wine industry” focuses on the research of cost information for decision making in winemaking in Bulgaria Majid Nili Ahmadabadi, Ali Soleimani (2013), “Feasibility Study for Implementation of an Activity - Based Costing System in Alloy Steel Industries”, they have shown factors affecting the applicability of activity-based cost method in the steel manufacturing industries in Iran According to Eva Wager (2013), ABC used to be the most appropriate cost determination method for small steel companies Mohammad D.A1 -Tahat, AI -Refaie Abbas (2012) studied the traditional ABC implementation process in cast steel factories which has specific illustrations of ABC in terms of making cost distribution technique and calculating the product prices but not connecting with ABC and ABM yet, etc 2.4 Research chance of the thesis Through the research of foreign and domestic works of clarifying and confirming the importance of production and business cost accounting for companies, there have not been any topics of deep research on production and business cost accounting in both aspects of financial accounting and management accounting Therefore, the author finds the chance for the research of production and business cost accounting at steel companies in Central Vietnam in the context of current international economic integration is very essential Research objective and mission - Research objective: Studying and proposing solutions to complete the production and business cost accounting at steel companies in Central Vietnam in the context of international integration - Research mission: + Systematize, analyze and clarify general theoretical issues on production and business cost accounting at steel companies in the aspects of financial accounting and management accounting + Survey, analyze, assess the actual situation of production and business cost accounting at steel companies in Central Vietnam in the aspects of financial accounting and management accounting Therefore, specify the results, limitations and causes + On the basis of theory and practice, propose the solutions to complete the production and business cost accounting at steel companies in Central Vietnam and make sure the information provision on production and business costs in order to meet the management requirements of resource costs during the international integration Research questions of the thesis To achieve the research objectives, the author makes some research questions include: (1) General theory of production and business cost accounting and samples of production and business cost accounting in both aspects of financial accounting and management accounting at companies in the market economy during the international integration? (2) Actual situation of production and business cost accounting at steel companies in Central Vietnam in both aspects of financial accounting and management accounting, outstanding matters and causes? (3) Solutions and recommendation to complete the production and business cost accounting at steel companies in Central in order to meet the management requirements in the market economy during the international integration? Subject and scope of study 5.1 Subject of study The thesis focuses on the research of theories and actual situation about production and business cost accounting at steel companies in Central Vietnam 5.2 Scope of study - Regarding the area: The survey scope is at steel companies in Central Vietnam, except for private companies with a super-small manufacturing scale The thesis focuses on the research of common production and business cost accounting with billets and steel products at steel companies in Central Vietnam Do not research on the accounting of financial costs and other costs - Regarding the time: The thesis makes a survey of the actual situation of production and business cost accounting at steel companies in Central Vietnam for years from 2015 to 2018 - Regarding the content: The thesis researches on both aspects of financial accounting and management accounting Method of study 6.1 Method of study - Technical method: Using a combination of research methods such as induction, interpretation, analysis, synthesis, comparative analysis, field surveys to analyze and evaluate in order to make reasonable conclusions - Method of information collection: Primary and secondary information collection method - Method of processing and analyzing data: The main methods used by the author in data processing include methods of statistics, qualitative analysis and comparison, etc 6.2 Process of study The process of study of the thesis is shown in the charts New contributions of the thesis 7.1 New academic and theoretical contributions: The thesis has systematized the general theories on production and business costs at companies in both aspects of financial accounting and management accounting Therefore, learn experience and draw lessons on production and business cost accounting at Vietnam steel companies 7.2 New practical contributions: Assess the actual situation and propose the solutions to complete the production and business cost accounting at steel companies in Central Vietnam Structure of the thesis Chapter 1: General theory of production and business cost accounting in manufacturing enterprises Chapter 2: Actual situation of production and business cost accounting at steel companies in Central Vietnam Chapter 3: Completion of production and business cost accounting at steel companies in Central Vietnam CHAPTER GENERAL THEORY OF PRODUCTION AND BUSINESS COST ACCOUNTING AT STEEL COMPANIES IN CENTRAL VIETNAM 1.1 Definition, nature, classification of production and business costs in the manufacturing companies 1.1.1 Definition, nature of production and business costs During the production and business activities, companies have paid for resources such as manpower, materials, capital for production, labor work, transportation and investment Until now, there have been many definitions of production and business costs It means that there is no only definition of production and business costs In my point of view, the production and business costs are all expenses of resources paid by the companies related to the production and business activities in a certain period (month, quarter, year) and presented by a currency measure Nature of production and business costs: During the production and business activities, companies are always aware of the principle of ensuring to cover the costs invested to produce and consume products and other costs Therefore, the nature of production and business costs is the movement of factors during the production and business activities in the period into the product value 1.1.2 Classification of production and business costs To facilitate the cost management and cost accounting organization, companies often classify production and business costs in both aspects of financial accounting and management accounting according to the following factors: Based on the content and the economic nature of costs; based on the purpose and use of costs; based on the input of the production process at companies, etc 1.1.3 Management requirements of production and business costs - Must correctly determine the content and scope of production and business costs incurred during the production and business activities - The management must save costs on the basis of promoting production and business activities and improving product quality - Manage the production and business costs according to each activity, object, location, item, cost factor, etc 1.2 Production and business cost accounting in the manufacturing companies in the aspect of financial accounting 1.2.1 Accounting principles governs production and business cost accounting Production and business cost accounting must ensure the following principles: Principles or original price, consistency, conformity, prudence, materiality and continuous operation, etc 1.2.2 Determine the production and business costs On the basis of content, the scope is identified to correctly and fully calculate the production and business costs, the accountant determines the production and business costs according to each item and type of expense including costs of direct raw materials, direct labor, general production, selling, administration and the production and business costs for unfinished products In which, methods of assessing unfinished products at the end of the period include evaluation of unfinished products according to costs of main direct materials (or costs of direct raw materials), unfinished products according to an equivalent amount of completed product, unfinished products at cost norms 1.2.3 Record the production and business costs The accounting subject of production and business cost collection needs to be determined to record the production and business costs Accounting for collecting production and business costs: - Direct method: often used for the costs related directly to the subject of cost collection and can be accounted directly for each subject - Indirect allocation method: Apply when costs are related to many objects, need to aggregate to allocate to objects in reasonable standards Therefore, on the basis of the certain accounting method, the production and business cost accounting is conducted as follows: Accounting vouchers of production and business costs: including cost vouchers of direct materials, general production, selling and company administration In particular, the vouchers related to production and business costs are VAT invoices, Sales invoices, goods delivery notes, goods received notes, Payments, Credit notes, Debit notes, Payrolls, fixed asset records, etc The account of production and business costs: The cost collection depends on the companies make accounting on the inventory by a regular statement or the periodical inventory Production and business cost accounting uses the following accounts: TK621 – “Direct material costs”, TK622 – “Direct labor costs”, TK627 – “General production costs”, TK641 – “Selling costs”, TK 642 – “Company management costs” Production and business cost accounting is shown in the following charts: Charts of unfinished production and business cost accounting, selling cost accounting and company management cost accounting in manufacturing companies 1.2.4 Presenting the information on production and business costs In the financial statement, the information on production and business costs is shown in the basic criteria: original price of sales products, sales price, company management costs (Report of business results) and unfinished production and business cost (Balance sheet) At the same time, it is explained in details in the Financial Statement 1.3 Production and business cost accounting in the manufacturing companies in the aspect of management accounting 1.3.1 Making norms and estimates of production and business costs Norms of production and business costs: It is the crystallization of production and business costs consumed by a unit of product through trial production or experimentation Norms are a measure of determining expenses for a necessary product unit Estimates of production and business costs: It is a plan to use resources in a period, showing detailed estimates of the situation of mobilizing and using factors of production and financial resources to ensure the normal operation of companies, contributing to improving the efficiency of all activities 1.3.2 Information collection of production and business costs for management requirements Methods of determining production and business costs: - Methods of determining costs by job 11 CHAPTER ACTUAL SITUATION OF PRODUCTION AND BUSINESS COST ACCOUNTING AT STEEL COMPANIES IN CENTRAL VIETNAM 2.1 Overview of steel companies in Central Vietnam 2.1.1 Organizational characteristics of production and business activities at steel companies in Central Vietnam Steel companies in Central Vietnam focus on investing for sustainable development; at the same time commit to protect the environment and rationally use the national resources The author quantifies the business types at steel companies in Central Vietnam in the following chart: Steel manufacturing process: Currently in Vietnam, there are two technological processes of steel manufacturing which are short (open) and long (closed) including: - By short manufacturing process or it is called an open manufacturing process (electric arc furnace (EAF)) and induction furnace (IF)) - By long manufacturing process or it is called a closed manufacturing process (basic oxygen furnace (BOF) or steel manufacturing technology from upstream) 2.1.2 Management organization characteristics of steel companies in Central Vietnam The author quantifies the organizational management structure at steel companies in Central Vietnam in the following chart: 12 2.1.3 Organizational characteristics of accounting work at steel companies in Central Vietnam 2.1.3.1 Organizational accounting chart The author quantifies the organizational accounting chart at steel companies in Central Vietnam in the following chart: 2.1.3.2 Applied accounting policies Survey results on the application of accounting policies and regimes at steel companies in Central Vietnam: They all apply the accounting regime 13 as prescribed by the Ministry of Finance 2.2 Actual situation of production and business cost accounting at steel companies in Central Vietnam 2.2.1 Actual situation of production and business cost accounting in the aspect of financial accounting at steel companies in Central Vietnam 2.2.1.1 Cost accounting principles govern the production and business cost accounting Through surveys, both the management work as well as the accounting work at steel companies in Central Vietnam follow certain principles: principle of original price, consistency, caution, importance and continuous operation 2.2.1.2 Determining production and business costs The author quantifies the classification criteria of production and business costs at steel companies in Central Vietnam in the following chart: 2.2.1.3 Recording production and business costs Subject of accumulating production and business costs: The author quantifies the model of cost accumulation subject at steel companies in Central Vietnam in the following chart: 14 Accumulation method of production and business cost accounting: Including cost accumulation accounting of direct materials, direct labor, general production, selling and company management 2.2.1.4 Presenting the information on production and business costs The information on production and business costs at steel companies in Central Vietnam is shown in the basic criteria: criteria of original price, selling cost, company management cost (Report of business results) and criteria of unfinished production and business costs (Balance sheet) At the same time, it is explained in details in the Financial Statement 2.2.2 Actual situation of production and business cost accounting in the aspect of management accounting at steel companies in Central Vietnam 2.2.2.1 Making norms of production and business costs: The author quantifies the results of making production and business cost norms at steel companies in Central Vietnam in the following chart: 15 2.2.2.2 Making estimates of production and business costs The author quantifies the results of making production and business cost estimates at steel companies in Central Vietnam in the following chart 2.2.2.3 Collecting the information on production and business costs for management requirements - Method of determining production and business costs: Actual cost method is currently applied in all companies with a simple online model (limited companies and private companies), normal cost method and the 16 standard cost method are applied at companies that have a functional online model (for all joint stock companies) - Management accounting report of production and business costs: All steel companies in Central Vietnam make reports of product costs, corresponding to the scale of 86.96% and report of part cost, accounting for 56.52% 2.2.2.4 Analyzing the information on production and business costs for management requirements The steel companies in Central Vietnam only make reports of production cost analysis – report of product manufacturing cost analysis and report of part manufacturing cost However, not all companies make these two reports 2.3 Assessing the actual situation of production and business cost accounting at steel companies in Central Vietnam 2.3.1 Achievements Production and business cost accounting in the aspect of financial accounting - Regarding cost accounting principles govern the production and business cost accounting: Basically comply with and ensure the accounting principles as prescribed - Regarding cost identification and classification (determination of production and business costs): The arrangement of production and business costs at companies into items of production costs and the details of these cost items according to the factors and its operational functions meeting the requirements of providing information on financial accounting on cost criteria of goods sold in business result reports, information on cost factors in the Financial Statements - Regarding the record of production and business costs + Subject of production and business costs aggregation: The determination of subject aggregating production and business costs at steel companies in Central Vietnam is basically consistent with the cost management, inspection and analysis requirements, internal accounting requirements of each company + Accounting method to aggregate production and business costs Method of aggregating and allocating production and business 17 costs: The application of methods of aggregating production and business costs is basically consistent with the characteristics of production and business activities of companies Aggregation production and business cost accounting - Regarding accounting vouchers: The steel companies in Central Vietnam is basically quite consistent with the situation of production and business activities of companies - Regarding accounts and accounting books: Through actual surveys, steel companies in Central Vietnam strictly comply with and well use accounts and cost accounting as prescribed by the Ministry of Finance - Regarding information on production and business costs: The information on production and business costs of steel companies in Central Vietnam is mainly presented in three reports: Balance sheets, Business result reports and Financial statements Production and business cost accounting in the aspect of management accounting - Regarding norms of production and business costs: The steel companies in Central Vietnam have made norms of the items such as costs of direct materials and general production to meet part of the cost management work at companies, helping to better control the cost system of companies - Regarding estimates of production and business costs: Through the survey results, it is possible to make conclusions about the steel companies in Central Vietnam, in general, they satisfy the cost information for planning Because the estimates of production and business costs at these companies are static and timely support the company’s planning of production and business activities - Regarding collecting information on production and business costs for management requirements + Regarding the method of determining production and business costs: Companies applying different cost determination methods will have different levels of satisfaction with the cost information requirements but the companies applying the standard cost method will have the highest satisfaction level of cost information needs + Regarding the production and business cost management 18 accounting reporting system: In general, the production and business cost management accounting reporting system at steel companies in Central Vietnam has a cost reporting system basically meeting the management requirements 2.3.2 Limitations Production and business cost accounting in the aspect of financial accounting - Recording production and business costs: The opening of a detailed system of accounting accounts and books for detailed tracking of subjects is still less and simple - Regarding the information on production and business costs: Steel companies in Central Vietnam initially focus on setting up the reporting system of financial and management reports such as cost reports by job or process, business result reports by direct method (by tariff) which have not yet been developed Production and business cost accounting in the aspect of management accounting - Regarding the identification and classification of production and business costs: In the aspect of management accounting, these classification methods have basically not met the requirements of providing information on internal management - Regarding norms and estimates of production and business costs + Regarding norms of production and business costs: The norm system is not full, some cost factors have not been quantified in terms of both quantity and price + Regarding estimates of production and business costs: The cost estimate system at steel companies in Central Vietnam is not full and inconsistent - Regarding the information collection of production and business costs for management requirements + Method of determining production and business costs: The cost determination is only conducted for the products and parts Even companies with a simple part structure only determine production costs for a product group + Regarding the production and business cost management 19 accounting reporting system: The information on the cost management accounting report is only presented into the items by the cost factors and operational functions so it can not meet the requirements of cost control and assessment of company activities - Regarding the information analysis of production and business costs for management requirements: Through researching the actual situation, the collection of production and business cost information at steel companies in Central Vietnam has not met the requirements of the managers The current cost information has met the information requirements for preparing financial statements The biggest effect of the information in financial statements for the company is to help the managers evaluate the financial structure and financial prospects of the company - Regarding the analysis of changes in production and business costs between facts and estimates to enhance cost control: This analysis content at steel companies in Central Vietnam is still simple, the cost items have not been fully analyzed yet so the information collected from the analysis has not met the management requirements effectively - Regarding the management accounting system of environmental cost: The steel industry is one of the industries causing environmental pollution and the costs related to environmental treatment are very high However, the environmental-related costs at steel companies in Central Vietnam are not separately collected to provide information for management but are included in the general production cost items 2.3.3 Reasons for limitations Objective reasons - Because the steel industry still lacks the strict management of State agencies in investing in this industry - The technological level of Vietnamese steel companies is considered to be weak - Documents on accounting laws and accounting standards are not consistent with Vietnam’s specific economic management mechanism, etc Subjective reasons - The awareness of accounting information role in management is 20 limited - Companies have not paid enough attention to training human resources and improving the qualifications of accountants, etc - Companies have not paid enough attention to regularly updating the changed information on financial accounting policies, accounting regimes, etc - Due to the qualifications, the professional competence of some accountants at steel companies in Central Vietnam CONCLUSION OF CHAPTER Basically, Chapter has analyzed the organizational characteristics of production and business activities, organization of management and accounting work that affect the production and business cost accounting at steel companies in Central Vietnam The thesis has analyzed and clarified the current situation of production and business cost accounting at steel companies in Central Vietnam in the aspect of financial accounting and management accounting Through analyzing the actual situation, the thesis has clearly shown the advantages, limitations and reasons for production and business cost accounting at steel companies in Central Vietnam 21 CHAPTER COMPLETION OF PRODUCTION AND BUSINESS COST ACCOUNTING AT STEEL COMPANIES IN CENTRAL VIETNAM 3.1 Development orientations and the requirement to complete the production and business cost accounting at steel companies in Central Vietnam 3.1.1 Development orientations of steel companies in Central Vietnam 3.1.2 Basic requirements for completing the production and business cost accounting at steel companies in Central Vietnam 3.2 Completion solutions of production and business cost accounting at steel companies in Central Vietnam 3.2.1 Completing the production and business cost accounting in the aspect of financial accounting at steel companies in Central Vietnam 3.2.1.1 Completing the records of production and business costs - Organizing the system of accounting accounts: Companies may make an account ID in the form of the following table: Account Account Account Account Account Level Level Level Level Level Costs of Details Details Details Details direct in each for each for each for each materials production product product type product type stage group according to the tariff and norms - Making the accounting book system: Based on the detailed management requirements of companies and subjects which the companies have determined to make the detailed accounting book system to ensure detailed tracking of each cost item and factor combined with the application of variable and fixed costs as a basis for analysis of cost changes; analyze costs by the determined cost collection subject in accordance with the request to provide cost details for cost management requirements 22 3.2.1.2 Completing the information on production and business costs To have the basis to perform information analysis of production and business costs effectively, calculating the price and reporting the business results for each product of each order, the author recommends that the steel companies in Central Vietnam should make price by the job and production process in order to find the fluctuations to determine the change cause and take timely management measures In addition, cost fluctuations can be analyzed through price reporting and business result reports 3.2.2 Completing the production and business cost accounting in the aspect of financial accounting at steel companies in Central Vietnam 3.2.2.1 Completing the classification of production and business costs To maximize profits, an important issue for the company is cost control In order to apply the cost management accounting system, it is necessary to classify the cost treatment 3.2.2.2 Completing the norms of production and business costs Companies need to take advantage of cost norms more consistently Because the cost norms will help the company determine the production cost of product unit, thereby making a basis for cost performance and control 3.2.2.3 Completing the estimates of production and business costs The estimates of production and business costs at steel companies in Central Vietnam are not made consistently Therefore, to be able to foresee the cost fluctuation and help the company assess the efficiency of actual cost control when the level of activity changes, companies should make flexible estimates for many different levels of activity 3.2.2.4 Completing the information collection of production and business costs for management requirements: We may set up report types such as: The production department has the following report types: Detailed cost reports on direct materials, direct labor, general production, allocation of general production costs according to the criteria, cost fluctuation analysis reports 23 In non-production departments: Include the following types of reports: Sales cost follow-up reports, company management cost follow-up reports 3.2.2.5 Completing the analysis of production and business costs for management requirements - Analysis of break-even point: The analysis of break-even point will show the minimum billet and steel output to offset costs, thereby make solutions to achieve sales without losses So, break-even analysis will show the minimum sales level that companies need to achieve - Analysis and control of production and business costs: Companies need to make the fluctuation analysis between estimates and facts of direct material costs, direct labor costs and general production costs 3.2.2.7 Completing the system of management accounting of environmental costs With the standardized cost accounting system which is completed for steel companies in Central Vietnam as mentioned above, it meets the requirements of cost management accounting in planning, controlling costs, making decisions and assessing business results However, to meet the information needs of the managers, it is necessary to make the cost management accounting system with the purpose of environmental protection 3.3 Implementation conditions of complete solutions for production and business cost accounting at steel companies in Central Vietnam 3.3.1 For the State 3.3.2 For the companies 24 CONCLUSION OF CHAPTER On the basis of theoretical research of production and business cost accounting at manufacturing companies in Chapter and actual situation of production and business cost accounting at steel companies in Central Vietnam in Chapter and the development direction of steel companies in Central Vietnam in the next few years, the thesis has shown the complete solutions for production and business costs at steel companies in Central Vietnam in both aspects of financial accounting and management accounting In addition, in Chapter 3, the thesis has clarified the conditions to ensure the recommended solutions for the State and steel companies in Central Vietnam CONCLUSION The production and business cost accounting is an important issue in which steel companies in Central Vietnam always pay attention It is the most important issue in all the work related to accounting work With the research purpose, in order to complete the production and business cost accounting, the thesis has shown some following issues: - Firstly, the thesis has systematized and analyzed to clarify the general theories about production and business costs in manufacturing enterprises as a basis for understanding the actual situation of production and business cost accounting at steel companies in Central Vietnam - Secondly, the thesis has analyzed and the actual situation of production and business cost accounting at steel companies in Central Vietnam in the aspect of management accounting - Thirdly, the thesis has offered solutions to complete production and business cost accounting at steel companies in Central Vietnam in both aspects of financial accounting and management accounting LIST OF RESEARCH WORKS OF THE AUTHOR Duong Thi My Hoang, (2018), “Actual situation of cost management accounting at steel companies in Central Vietnam”, Journal of Accounting and Auditing, Vol 11/2018 (182), page 58 – 60 Duong Thi My Hoang, (2019), “Actual situation of production cost accounting at steel companies in Central Vietnam in the aspect of financial accounting”, Journal of Accounting and Auditing, Vol 1+2/2019 (184), page 48 – 58 Duong Thi My Hoang, (2020), “Making norms for production and business costs at steel companies in Central Vietnam”, Journal of Accounting and Auditing, Vol 3/2020 (198), page 79 – 81 ... Doctor of Engineering Committee in ……………………… at ……………… on ……………………… For the details of the thesis, please contact: National Library of Vietnam Library of Vietnam University of Commerce INTRODUCTION... (2013), “Feasibility Study for Implementation of an Activity - Based Costing System in Alloy Steel Industries”, they have shown factors affecting the applicability of activity-based cost method... companies Naughton-Travers, Joseph P (2009), “ActivityBased Costing: The new Management Tool” have mentioned the information and superiority of activity-based cost accounting methods Michael R Kinney