Accounting of service and services determining the business results of services in insight hanoi travel and services joint stock company

VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL GRADUATION PROJECT PROJECT NAME ACCOUNTING OF SERVICE AND DETERMINING THE BUSINESS RESULTS AT INSIGHT HANOI TRAVEL AND SERVICES JOINT STOCK COMPANY STUDENT’S NAME: TRAN VIET DUNG Hanoi - 2020 VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL GRADUATION PROJECT ACCOUNTING OF SERVICE AND SERVICES DETERMINING THE BUSINESS RESULTS OF SERVICES IN INSIGHT HANOI TRAVEL AND SERVICES JOINT STOCK COMPANY SUPERVISOR: MSc NGUYEN TRA MY STUDENT: TRAN VIET DUNG STUDENT ID: 16071157 COHORT: INTERNATIONAL SCHOOL – VIETNAM NATIONAL UNIVERSITY, HANOI MAJOR: ACCOUNTING, ANALYSING & AUDITING Hanoi - 2020 LETTER OF DECLARATION I hereby declare that the Graduation Project : “Accounting Of Service And Services Determining The Business Results Of Services In Insight Hanoi Travel And Services Joint Stock Company” is the results of my own research and has never been published in any work of others During the implementation process of this project, I have seriously taken research ethics; all findings of this projects are results of my own research and surveys; all references in this project are clearly cited according to regulations I take full responsibity for the fidelity of the number and data and other contents of my graduation project Hanoi, 27 May, 2020 Student Tran Viet Dung i ACKNOWLEDGEMENT While studying at International School – Vietnam National University,Hanoi Under the encouragement and support of family, friends along with the enthusiastic guidance of teachers in the school, especially the teachers in the International School, I have gained valuable knowledge as well as the opportunity to learn about Insight Hanoi Travel and Services Joint Stock Company From what I have learned and understand, I have successfully completed my graduation thesis Inaddition, I would like to express my sincere thanks to the International Faculty teachers, especially the teacher, Mrs Nguyen Tra My, who kindly guided me to complete this graduation thesis Finally, I would like to thank all of my staff at the Accounting Department of Insight Hanoi Travel and Services Joint Stock Company, for their dedication, assistance, and conditions for me to complete the project Finally, I would like to send my best wishes to my family, teachers, friends and all staff in Insight Hanoi Travel and Services Joint Stock Company good health, wish the company has a lot of success in their business Hanoi, 27 May, 2020 Tran Viet Dung ii CONTENT LETTER OF DECLARATION i ACKNOWLEDGEMENT ii CONTEN iii LIST OF TABLE vi LIST OF DIAGRAM vii LIST OF FIGURE viii CHAPTER 1: INTRODUCTION 1 The necessity of the thesis The purpose and meaning of the project Subject and scope of the project Thesis structure CHAPTER 2: LITERATURE REVIEW CHAPTER 3: METHODOLOGY CHAPTER 4: FINDING PART 1: THEORICAL AND DEFINITION 1.1 Overview of service revenue and modes of service delivery 1.1.1 Service delivery concept 1.1.2 Modes of service delivery 1.2 Service revenue accounting and determination of service business results 1.2.1 The role of service revenue accounting and determining service business results 1.2.2 Duties of accounting service activities and determine the results of service delivery 1.3 Organizing accounting book system and reporting system 10 iii 1.3.1 Forms of accounting books 10 1.3.2 Accounting reporting system: 12 1.4 Organize the accounting of sales and determine business results in terms of machine accounting 13 PART 2: PRACTICAL APPLICATION ANALYSIS AT INSIGHT HANOI TRAVEL AND SERVICES JOINT STOCK COMPANY 15 2.1 Overview of Insight Hanoi Travel and Services Joint Stock Company 15 2.1.1 The process of formation and development of Insight Hanoi Travel and Services Joint Stock Company 15 2.1.2 Features of service business activities at the Company 15 2.2 Characteristics of accounting work at the Company 16 2.2.1 Organizational structure of the accounting apparatus in the Company 16 2.2.2 Accounting policies applied at the Company a, Accounting organization 18 2.3 Actual situation of service revenue accounting and service business results at Insight Hanoi Travel and Services Joint Stock Company 20 2.3.1 Characteristics of service delivery and determination of service business results at Insight Hanoi Travel and Services Joint Stock Company 20 2.3.2 Accounting of service provision revenue and sales deductions 21 2.3.3 Cost of accounting for services provided at the Company 26 2.3.4 Accounting of business management expenses 27 2.3.5 Accounting of corporate income tax expenses 31 2.3.6 Accounting to determine service business results at the Company 32 2.4 Advantages & Limitation at Insight Hanoi Travel and Services Joint Stock Company 35 2.4.1 Advantages 35 2.4.2 Limit 36 2.4.3 The cause of the restriction 37 iv PART 3: PROPOSAL AND SOLUTION FOR COPANY 38 3.1 Solutions to improve revenue accounting at Insight Hanoi Travel and Services Joint Stock Company 38 3.2 Conditions for implementing the solution 40 CHAPTER 5: CONCLUSION 42 REFERENCES 43 APPENDIX 44 v LIST OF TABLE Form No 01: Deduction of the account ledger 511 Year 2019 44 Form No 02: Deduction of the ledger of account 131 in 2019 46 Form No 03: Deduction of the ledger account 3331 in 2019 48 Form No 04: Deduction of the ledger account 642 in 2019 50 Form No 05: Deduction of the 911 account ledger in 2019 58 vi LIST OF DIAGRAM Diagram 1.3: Order of bookkeeping in machine accounting: 14 Diagram 2.2: Accounting organization in the form of General Journal 18 Diagram 2.3: Chart of accounting software applied at the Company 20 vii LIST OF FIGURE Figure 1: System monitor of Misa Accounting Software 60 Figure 2: Calculating cost of service provided on Misa 61 Figure 3: VAT invoice 62 Figure 4: Transfer screen 63 Figure 5: Screen of cost accounting of CIT on Misa 63 Figure 6: Accounting book lock screen 64 viii Form No 04: Deduction of the ledger account 642 in 2019 Insight Hanoi Travel and Services Joint Stock Company Model No.: S03b-DNN (Issued in accordance with Circular No 133/2016 / TT-BTC dated No 81, Nguyen Kha Trac, Group 55, Mai Dich, Cau Giay, Hanoi August 26, 2016 of the Ministry of Finance) Tax code: 1008564604 LEDGER (Used for accounting form of General Journal) 2019 Account: Calculation unit: VND 642 - Cost of business management License General diary Corresp Amount of money onding Day, month book Number Date Explain Accoun Page numb Line t In debt Have first Numbe er r A B C D E G H - Beginning balance 13,937,626 - Amounts arising in the period 01/01/2019 PC136 01/01/2019 Payment for services of PETROLEUM RETAIL SALE ENTERPRISE - 50 1111 727,273 REGIONAL PETROL AND OIL COMPANY - ONE MEMBER CO., LTD October 1, 2019 UNC0754 October 1, 2019 DDA Debit Memo-Fee- Dly 1121 3,000 October 1, 2019 UNC0755 October 1, 2019 PM Assess Tax on Deposit Fees 1121 300 October 7, 2019 PC00046 October 7, 2019 1111 3,850,000 1121 million Payment for services of Hanoi Power Company 12/28/2019 UNC0824 12/28/2019 12/31/2019 NVK134 12/31/2019 Cleaning costs Carry forward loss and loss until December 31, 2019 1,361,192,724 911 1,361,192,724 - Add the arisen number - Ending balance - Accumulated from the beginning of the year - This book has 11 pages, numbered from page 01 to page 11 - Opening date: 51 1,361,192,724 1,361,192,724 Form No 06: Detailed book of business management expenses Unit:………………………… Form No S17-DNN Address: ………………………… (Issued in accordance with Circular No 133/2016 / TTBTC dated August 26, 2016 of the Ministry of Finance) BOOKS OF PRODUCTION AND BUSINESS COSTS (For accounts 154, 631, 642, 242, 335, 632) - Account: …………………………… - Part name: …………………… - Name of product or service: ……………… Day License Account Debit and Divide month Reciprocal the Explain of Number Date account book total amount entry A B C D E first - Beginning balance - Amounts arising in the period - Add the amount arising in the period - Credit to Account - Ending balance - This book has pages, numbered from page 01 to page - Opening date: Illustration:Extracting detailed expenses of business management in 2019 52 DETAILS OF ACCOUNT BOOKS Currency: VND; Account: 642; January, 2019 Number of Day vouchers Explain documents Account Reciprocal The debt Arising account incurred Yes 01/01/2019 NVK00153 Accounting of salary costs in 13/2018 642 334 January 3, 2019 NVK00193 Accounting of tax expenses in 2019 642 33382 642 Payment for the purchase of Nhat Nam Joint Stock Company on Excess Debt Yes 79,008,333 79,008,333 2,000,000 81,008,333 1111 678,820 81,687,153 May 1, 2019 PC00381 January 15, 2019 eighty six Payment of meals 642 1111 724,500 82,411,653 January 18, 2019 BN1803.2 Payment of debt Thien Vuong T11 / 2018 642 11213 22,000 82,433,653 January 20, 2019 PC00382 Payment of stationery T1.2019 642 3311 790,000 83,223,653 January 21, 2019 93 Payment of VT charges 642 1111 636,364 83,860,017 January 25, 2019 98 30% deduction of Tour code profit: IHTVSO20191129 642 1111 139,794 83,999,811 January 28, 2019 BN1804.1 Money tour motobike trip 642 11216 11,000 84,010,811 January 29, 2019 BN1804.2 Bonus tripad money 642 11211 11,000 84,021,811 January 31, 2019 107 Pay directly 642 1111 2,089,500 86,111,311 Addition 642 Ending balance 642 0 the invoice 0044561 53 86,111,311 Presented on: Cost management book Book of business management expenses Unit: Insight Hanoi Joint Stock Company Form No S17-DNN Address: No 81, Nguyen Kha Trac, Group 55, Mai Dich, Cau Giay, Hanoi (Issued in accordance with Circular No 133/2016 / TT-BTC dated August 26, 2016 of the Ministry of Finance) BOOKS OF PRODUCTION AND BUSINESS COSTS (For accounts 154, 631, 642, 242, 335, 632) - Account: Business management expenses - Part name: …………………… - Name of product or service: ……………… License Debit Account 642 Day and month of book entry A Number Date B C 01/01/2019 NVK00153 January 3, 2019 NVK00193 May 1, 2019 January 15, 2019 PC00381 86 Explain Reciprocal account D - Opening balance January 3, - Amounts arising in the 2019 May 1, 2019 January 15, 2019 amount 6421 6422 6423 6424 6425 6427 6428 first 334 79,008,333 79,008,333 33382 2,000,000 E 01/01/2019 Divide the total period Accounting of salary costs in 13/2018 Accounting of tax expenses Home License, Ngon Villa 2,000,000 in 2019 Payment for the purchase January 18, 2019 BN1803.2 January 18, of Nhat Nam Joint Stock 2019 Company on the invoice 1111 678,820 678,820 1111 724,500 724,500 0044561 January 20, 2019 PC00382 January 20, Payment of meals 54 2019 January 21, 2019 93 January 25, 2019 95 January 28, 2019 BN1804.1 January 29, 2019 BN1804.2 January 31, 2019 107 January 21, 2019 January 25, 2019 January 28, 2019 January 29, 2019 January 31, 2019 Payment of debt Thien 1121 Vuong T11 / 2018 Payment of stationery 22,000 22,000 3311 790,000 790,000 1111 636,364 636,364 1111 1,397,940 Money tour motobike trip 11216 1,100,000 1,397,940 Bonus tripad money 11211 200,000 1,100,000 Pay directly 1111 2,089,500 2,089,500 T1.2019 Payment of VT charges 30% deduction of Tour code profit: IHTVSO20191129 - Add the amount arising in the period - Ending balance 88,647,457 79,008,333 1,426,364 5,990,760 2,022,000 88,647,457 79,008,333 1,426,364 5,990,760 2,022,000 55 Form No 04: Deduction of the ledger of account 632 in 2019 Insight Hanoi Travel and Services Joint Stock Company Model No.: S03b-DNN (Issued in accordance with Circular No No 81, Group 55, Nguyen Kha Trac, Mai Dich, Cau Giay, Hanoi 133/2016 / TT-BTC dated August 26, 2016 of Tax code: 0105911056 the Ministry of Finance) LEDGER (Used for accounting form of General Journal) Account: Calculation unit: VND 632 - Cost of goods sold License Day, month General diary book Number Date A B C Explain Page number D E Corresponding Amount of money Line Account Number In debt Have G H first - Beginning balance - Amounts arising in the period January 5, 2019 HD20190016 January 5, 2019 KC Tours Ha Long by HD20190016 154 56 38,957,392 October 4, 2019 October 4, T20190074 2019 Ninh Binh tour 154 133,066,771 154 34,061,575 12/18/2019 HD20190150 12/18/2019 Tour Da Nang Thanh Phat company - Add the arisen number 3,889,122,068 3,889,122,068 3,889,122,068 3,889,122,068 - Ending balance - Accumulated from the beginning of the year - This book has 05 pages, numbered from page 01 to page 05 - Opening date: Day month Year Bookkeeper Chief accountant 57 Manager Form No 05: Deduction of the 911 account ledger in 2019 Insight Hanoi Travel and Services Joint Stock Company Model No.: S03b-DNN No 81, Group 55, Nguyen Kha Trac, Mai Dich, Cau Giay, Hanoi (Issued in accordance with Circular No 133/2016 / TT- Tax code: 1008564604 BTC dated August 26, 2016 of the Ministry of Finance) LEDGER (Used for accounting form of General Journal) 2019 Account: Calculation unit: 911 - Determining business results VND License Day, month General diary book Number Date A B C Explain Page number D E Corresponding Amount of money Line Account Number In debt Have G H first - Beginning balance - Amounts arising in the period 12/31/2019 NVK134 12/31/2019 12/31/2019 NVK134 12/31/2019 12/31/2019 NVK134 12/31/2019 Carry forward loss and loss 4212 until December 31, 2019 Carry forward loss and loss 51111 until December 31, 2019 Carry forward loss and loss 515 58 5,401,558,428 until December 31, 2019 12/31/2019 NVK134 12/31/2019 12/31/2019 NVK134 12/31/2019 12/31/2019 NVK134 12/31/2019 12/31/2019 NVK134 12/31/2019 12/31/2019 NVK134 12/31/2019 Carry forward loss and loss until December 31, 2019 Carry forward loss and loss until December 31, 2019 Carry forward loss and loss until December 31, 2019 Carry forward loss and loss 632 3,889,122,068 635 10,387,612 6421 615,892,829 6422 until December 31, 2019 Carry forward loss and loss 821 until December 31, 2019 - Add the arisen number 745,299,895 28,138,576 112,554,305 112,554,305 112,554,305 112,554,305 - Ending balance - Accumulated from the beginning of the year - This book has 01 page, numbered from page 01 to page 01 - Opening date: Day month Year Bookkeeper (Signature, full name) Chief accountant (Signature, full name) 59 Manager (Sign, full name, stamp) APPENDIX Software for automatic accounting of transfer entries: Figure 1: System monitor of Misa Accounting Software - 60 Figure 2: Calculating cost of service provided on Misa 61 Figure 3: VAT invoice 62 Figure 4: Transfer screen Figure 5: Screen of cost accounting of CIT on Misa 63 Figure 6: Accounting book lock screen 64 ... Of Service And Services Determining The Business Results Of Services In Insight Hanoi Travel And Services Joint Stock Company? ?? is the results of my own research and has never been published in. .. UNIVERSITY, HANOI INTERNATIONAL SCHOOL GRADUATION PROJECT ACCOUNTING OF SERVICE AND SERVICES DETERMINING THE BUSINESS RESULTS OF SERVICES IN INSIGHT HANOI TRAVEL AND SERVICES JOINT STOCK COMPANY. .. process of formation and development of Insight Hanoi Travel and Services Joint Stock Company 2.1.1.1 Overview of Insight Hanoi Travel and Services Joint Stock Company Internal The Company is a Joint