Nghiên cứu phân tích mối quan hệ chi phí khối lượng lợi nhuận trong việc ra quyết định kinh doanh tại các doanh nghiệp chế biến thức ăn chăn nuôi ở việt nam TT TIENG ANH

1 INTRODUCTION consumption plan when the elements of the business process business changes,… Therefore, animal feed processing enterprises need to have an appropriate information system to help managers make accurate and timely decisions With the industry's characteristic being a simple production process, the main cost is the direct cost related to each processing batch, the general cost allocation is usually by volume, so the application of CVP analysis to serve management decision making is essential Moreover, through the preliminary survey process, the author found that the application of CVP analysis in animal feed processing Vietnam enterprises still has many obstacles and is not thorough, so exploiting the usefulness of information provided by CVP analysis is still very difficult, grants for business decision-making are limited The application of CVP analysis in animal feed processing enterprises in Vietnam is influenced by many factors inside and outside the enterprise, which can increase the applying intention and the feasibility of applying CVP analysis in other industries in animal feed processing enterprises in Vietnam or vice versa From the above reasons, the author realizes that there is a need for in-depth research on CVP analysis in business decision making as well as research on factors affecting the application of CVP analysis in food processing enterprises in Vietnam Therefore, in that context, the thesis topic: "Researching cost - volume - profit analysis for business decision making of animal feed processing enterprises in Vietnam" Accordingly, the author delves into the analysis of CVP in business decision making both in terms of actual application status and factors affecting the application of CVP analysis Research objectives Researching the theoretical basis of CVP analysis and the actual situation of applying CVP relationship analysis in business decision making, at the same time, researching the factors affecting the application of CVP analysis in business decisions making From there, recommendations are made to enhance the application of CVP analysis in making business decisions at animal feed processing enterprises in Vietnam Specific aims include: - Systematize and clarify the theoretical basis of CVP analysis - Researching the application status off CVP analysis in business decision making in aminal feed processing enterprises in Vietnam - Researching the factors affecting the application of CVP analysis in making business decisions in aminal feed processing enterprises in Vietnam - Recommendation of strengthen the application of CVP analysis in business decisions making in aminal feed processing enterprises in Vietnam Research questions (1) What does CVP analysis mean in business decision making? (2) What is the application status of CVP analysis in aminal feed processing enterprises in Vietnam? Rationale of the thesis topic To increase the competitiveness in enterprises in general, and in manufacturing industry in particular, managers need to use a variety off management accounting tools In which, cost – volume – profit analysis (CVP) is a tool to help manager to make optimal business decision (Fong-Ching Yuan, 2009), in order to achieve the highest aim in finance operation that is business value maximization CVP analysis deals with the basic economic relationship that shows the relevance of fixed costs, variable costs, sales volume, unit price, revenue, profit Through studying and mastering the CVP relationship, managers can maximize the potential capabilities of the enterprise, use and promote effectively all resources in the enterprise to perform well manufacturing business This is the basis for making decisions on selecting or adjusting production and business methods in order to maximize profits According to the International Federation of Accountants (IFAC), CVP analysis is in the second development stage of management accounting, belonging to traditional management accounting and still commonly be used in many countries (Abdel-Kader and Luther, 2006; Uyar, 2010; Yalcin, 2012) Analysis of costs, revenues and profits are basic objects that are always concerned by managers at all times Therefore, CVP analysis is used throughout to provide appropriate information in business stages, contribute to management accounting information systems and evaluate business performance (Horngren, 2011) However, applying CVP analysis in making business decisions in each manufacturing enterprise is different because of the characteristics of the business (industry, organizational structure, competitive capacity, ) and perception of the managers about the importance of using accounting information To develop the livestock industry, feed is an important link that is being considered as a solution to ensure food security around the world According to experts from Grand View Research, by 2020, Vietnam's animal feed market will reach a size of about 10.55 billion USD The demand of the market can then increase from 25 to 26 million tons of feed, so in recent years this industry is growing and developing stably with the growth rate of 13 to 15% per year However, according to the Department of Livestock Production of Vietnam, the current domestic animal feed production activities almost not meet the domestic demand but are still mainly imported sources That shows that the animal feed market in Vietnam is a potential market for feed processing enterprises of this industry Besides the opportunities for feed production enterprises, the challenges posed in the business activities of this industry are not small Because, the competitive pressure of the industry is quite high, requiring businesses to always have to make business decisions such as determining the selling price, choosing the optimal (3) How are the factors affecting the application of CVP analysis in business decisions making in aminal feed processing enterprises in Vietnam? (4) What solutions are needed to enhance the application of CVP relationship analysis in making business decisions in aminal feed processing enterprises in Vietnam Research objects and scope Research objects: - Literature review CVP analysis and factors affecting the application of CVP analysis - Theoretical basis of CVP analysis in manufacturing enterprises and the underlying theory related to the factor model affecting the application of CVP analysis - Application status of CVP analysis in business decisions making in aminal feed processing enterprises in Vietnam - Factors affecting the application of CVP analysis in business decisions making in aminal feed processing enterprises in Vietnam Research scope: About the research content: The thesis researches CVP analyses to provide information for business decision making of animal feed processing enterprises in Vietnam on the following specific contents: (1) literature review of CVP analysis and influencing factors to CVP analysis application; (2) synthesize and systematize the theoretical issues of CVP analysis in business decision making and the underlying theory related to the influencing factor model; (3) evaluate and interpret previous research results, evaluate the current situation of applying CVP analysis in making business decisions at animal feed processing enterprises in Vietnam, evaluate the influence of factors on applying CVP analysis; (4) making research hypotheses and testing research hypotheses on the context of food processing enterprises, and at the same time making recommendations to relevant stakeholders About the spatial extent: Thesis selects aminal feed processing enterprises in Vietnam in the northern, middle and southern provinces About time scope: Thesis uses data of aminal feed processing enterprises in Vietnam from 2017 to 2019 Research methodology The thesis uses both qualitative and quantitative research methods Qualitative research was carried out including interviews and case studies Quantitative research was carried out through distribution of questionnaires to collect data in two phases Phase one is a pilot study (trial survey) and phase two is a large-scale mass study Thesis structure In addition to the introduction, the thesis consists of five chapters as follows: Chapter Literature review Chapter 2: Theoretical basis of CVP analysis Chapter Research methodology Chapter Research results Chapter Discussion and recommendations In addition, the thesis also includes diagrams, tables and attached appendices New thesis contributions Through the research, the author has some new theoretical and practical contributions for management accounting aspect, as follow: (1) The thesis is a pioneering research on applying CVP analysis in business decision making at animal feed processing enterprises in Vietnam (2) On the basis of the unified theory of acceptance and use of technology UTAUT and the theory of technology acceptance TAM, the thesis evaluates the impact of factors affecting the applycation intention and behavior of using the CVP analysis in business decision making at animal feed processing enterprises in Vietnam, factors include: perceived usefulness, perceived ease of use, social influence and facilitating conditions to apply 5 CHAPTER LITERATURE REVIEW 1.1 Overview of cost – volume – profit analysis 1.1.1 Overview of cost – volume – profit analysis in business decision making The first CVP analysis model was studied by Hess (1903) Four years later, Mann has developed Hess' CVP model into a new model that can be applied to many products and under changing business conditions Charnes, Cooper, & Ijiri (1963) also demonstrated that CVP analysis under uncertain conditions is non-existent in business environment Jaedicke & Robichek (1964) were the first to study the CVP model under changing business conditions by treating profit as a random variable in two different format models This study overcomes the weaknesses in the study of Charnes, Cooper, & Ijiri (1963) Stefan Daniel (2012) developed CVP analysis in a multi-product environment The main objective of this study is to explain how analytics can be rationally used in decision-making regarding the manufacturing process Farrell and Virginia (2015) had suggested that CVP analysis is based on a set of underlying assumptions Assumptions are fixed within the volume of output, including: total fixed cost, unit selling price, unit variable cost, and contribution margin The indicators of cost, output and consumption structure, and selling price are studied separately in the works of Flora Guidry et al (1998), Neil Kokemuller (2013), Hansen, Mowen (2006), Walther, Skousen (2009), Kee, Robert (2007), author group Jormakka, Koivusalo, Lappalainen, Niskanen, (2015)… 1.1.2 Overview of cost – volume – profit analysis application in enterprises Kee (2007) evaluate of the risk-reward trade-off in a given product mix can be made by using CVP analysis In Viitala's study (2013), the author believes that successful selling price determination is the foundation of business profits This is one of the most important decisions of a business, directly affecting sales and profits According to Hinterhuber (2003), a survey has been conducted on 150 companies in the metal mechanics sector located in the Northeast region of the State of Rio Grande Research results have shown that CVP relationship analysis is a useful tool when making decisions Research by Huda Al-Hussari (2006) has studied the price indicator in the analysis of the CVP relationship Research results show that when using cost-based pricing, variable cost information is used more by managers because using complete cost information can lead to costly mistakes Mustafa Z Younis et al (2011) applied CVP relationship analysis to calculate the expected benefits of health services, specifically cardiovascular catheterization services in Palestine This study looks at cardiac catheterization unit costs at one of the largest hospitals in Palestine Nguyen Thi Ngoc Lan (2012), Ho My Hanh (2013), Dao Thuy Ha (2015) also mentioned CVP analysis in the thesis from the perspective of a small problem in the research content For the animal feed processing industry, many researchers are interested and studied from different angles Tran Thi Du (2013) has conducted research in Vietnamese animal feed processing enterprises on cost content to strengthen cost management accounting Hoang Khanh Van (2017) researched on product pricing in animal feed processing enterprises in Vietnam 1.2 Overview of factors affecting cost – volume – profit analysis application CVP analysis is a fundamental tool of traditional management accounting Therefore, on the basis of an overview of research works on factors affecting the application of management accounting, the author has inherited and built Building a factor analysis model that affects the application of CVP analysis Haldma and Laats (2002) study the factors affecting the application of management accounting in manufacturing enterprises in Estonia The research results show that, traditional management accounting techniques (including CVP analysis) are widely applied, the factors of awareness and capacity of accountants have the highest influence on the growth of employees Strengthen the application of management accounting (mean = 4.25) Cades & Guilding (2008), Kosaiyakanont (2011), Ahmad K (2012), Albu (2012) study the factors affecting the application of CVP analysis including managers' knowledge, awareness of accountants, level of accounting, organizational structure, competitive pressure Doan Ngoc Phi Anh (2012), Nguyen Phong Nguyen and Doan Ngoc Que (2016), Tran Ngoc Hung (2016), Dao Thuy Ha (2017), Thai Anh Tuan (2019) study the factors affecting the application of management accounting, including CVP analysis, points out influencing factors including awareness of managers, awareness of accountants, decentralization, application of information technology, organizational structure, strategy Nguyen Thi Ngoc Oanh (2016), Nguyen Quoc Hung and Le Thi Tu Oanh (2020), Cao Thi Huyen Trang and Nguyen Thi Thuy (2018) analyze factors affecting the application of management accounting on the basis of TAM, TPB, TRA, UTAUT Research gaps Internal and external researches were systematical by content, including: CVP analysis for business decision making; applying CVP analysis in enterprises with different respects; factors affecting the application of management accounting including CVP analysis, to provide useful and reliable information for the decision making process of enterprises Firstly, from the overview of CVP analysis and application of CVP analysis, the authors have developed a CVP analysis model from simple to extensive, from within a single product business environment to a large business environment multi-product business school The criteria of cost, selling price, output, and profit in the CVP are mentioned separately in each project The application of CVP analysis is also studied in foreign and domestic enterprises, with diverse business lines such as transportation, hospitals, restaurants, hotels, food industry, garment, manufacturing, etc plastic production, etc However, the authors have not gone into depth to analyze the overall criteria in the CVP relationship, this issue has only been mentioned as a relevant content in the research works in the field of plastic production water Especially in the animal feed processing industry, previous studies only mentioned costs or selling prices, but did not mention the overall relationship between the criteria in the CVP relationship It can be seen that there has not been any research on analyzing CVP and applying CVP analysis in amimal feed processing enterprises Secondly, from the overview of factors affecting the application of management accounting, the author finds that some influencing factors are mentioned in the theoretical model technology TAM and the unified theory of acceptance and use of technology UTAUT, are two models of factor analysis affecting the intention and the behavior of application in the fields of economics and technology These factors are: awareness of managers, perception of accountants, perception of ease of use, perception of trust, corporate characteristics, corporate culture, management hierarchy, organizational structure, social environment, competitive pressure From the review, the author found that there has not been any research applying the theoretical model of TAM and UTAUT to study the factors affecting the application of CVP analysis Therefore, the author thinks that it is possible to inherit factors and synthesize them into groups according to TAM and UTAUT theory as follows: (1) perceived of usefulness (perception of managers, perception of accountants) ), (2) perceived ease of use (effort expectations), (3) facilitating conditions (information technology, organizational structure), (4) social influence (perceived credibility , subjective norm) This is the basis to build a model of factors affecting the application of CVP analysis in business decision making in enterprises Từ hai kết luận tổng quan trên, tác giả tìm thấy khoảng trống nghiên cứu cho đề tài nghiên cứu vận dụng phân tích CVP việc định kinh doanh doanh nghiệp CBTACN Việt Nam, đồng thời tác giả kế thừa nhân tố ảnh hưởng mơ hình lý thuyết TAM UTAUT để nghiên cứu nhân tố ảnh hưởng đến vận dụng phân tích CVP doanh nghiệp CBTACN Việt Nam From two general conclusions, the author has found a research gap for the thesis, These are reaearching CVP analysis application in business decision making at animal feed processing enterprises in Vietnam, and at the same time the author inherits the influencing factors in the theoretical model of TAM and UTAUT to research the factors affecting the application of CVP analysis in animal feed processing enterprises in Vietnam Sub-conclusion of chapter In chapter 1, the author presented an overview of researching CVP analysis These works are divided into two groups: The first group includes studying CVP analysis model, indicators in CVP relationship, CVP analysis in short-term decision making The second group includes researching CVP analysis application in decision making in different industries such as steel production, food processing, food service, medical services, garment, transportation … in the world and in Vietnam Besides, CVP analysis is a technique of management accounting, so in order to build a model of factors affecting the application of CVP analysis, the author conducts an overview of research studies on factors affecting business performance.management accounting, in which it is noteworthy that the influential factor analysis works according to the theory of technology acceptance TAM and the unified theory of acceptance and use of technology UTAUT Up to now, there haven’t been any studie on the application of CVP analysis at animal feed enterprises in Vietnam, and there are no studies on factors affecting the application of CVP analysis CHAPTER 2: THEORETICAL BASIS OF COST – VOLUME – PROFIT ANALYSIS 2.1 Basic content of cost – volume – profit analysis (CVP) 2.1.1 Concept, meaning, role of CVP analysis Concept of CVP analysis CVP analysis is an analysis that allows to evaluate the internal fluctuations and optimal relationships between product selling prices, total fixed costs, variable costs per unit, and cost structure , quantity of production and structure of products consumed, as well as the impact of such changes on business results of enterprises The significance of CVP analysis in enterprises management CVP analysis has an important meaning in providing information for business administrators to make decisions relating to business and production activities of enterprises, it also provides multidimensional and accurate information about any changes in the business process 2.1.2 Indicators in cost-volume-profit relationship 10 Cost: In the CVP relationship, costs are seen in terms of variable costs and fixed costs (Walther, Skousen, 2009) Selling volume: CVP analysis in decision making will be the basis for enterprises to determine the level of consumption volume as well as the structure of selling volume so that the enterprise can achieve maximum profit Selling Price: The price decision is not just a marketing process decision or a financial decision, it is a decision that affects all activities in the business The price of a product determines the volume of that product that will be sold and affects the net income stream of the business Profit: From the point of view of management accounting, the target of contributed profit and the percentage of contributed profit are meaningful indicators in analyzing the CVP relationship Operating Leverage: Operating leverage is the use of fixed costs in the hope of increasing earnings before interest and taxes (EBIT) or the economic return on assets (ROA) In other words, this is a way of using business fixed costs of enterprises in production and business activities with the expectation of increasing EBIT or ROA CVP analytical relationship - The relationship between cost - output - The relationship between selling volume - profit - The relationship between selling price - profit 2.2 Cost-volume-profit analysis in business decision making 2.2.1 Overview of business decisions From the point of view of management accounting, a decision is a choice from a variety of specific alternatives 2.2.2 Content of cost-volume-profit analysis in business decision making 2.2.2.1 CVP analysis provides information in pre-business decision making Breakeven analysis - Breakeven analysis in single production enterprises Breakeven output Breakeven revenue Breakeven time - Breakeven analysis in multiple production enterprises When analyzing the break-even point for a multi-product business, it is determined on the average contributed profit and the average contributed profit ratio (Stefan Daneil, 2012) From break-even analysis, managers have grounds to make decisions to determine output and selling price to achieve target profit Target profit analysis Profit plan expressed in terms of total profit or profit-to-sales ratio The target profit analysis will help managers choose the optimal business plans 2.2.2.2 CVP analysis provides information in decision making in business processes For single-product enterprise Choose a business plan when the unit variable cost and volume of consumption change Choose a business plan when total fixed costs and sales volume change Choosing a business plan when the selling price and volume of consumption change For multi-product enterprise Essentially, the CVP analysis in a multi-product enterprise is similar to that of a singleproduct enterprise 2.2.2.3 CVP analysis provides information in decision making after the business process is over - Price sensitivity analysis - Sensitivity analysis on variable costs - Sensitivity analysis on fixed costs 2.3 The fundamental theory of factors affecting the application of CVP analysis in business decision making TAM describes the causal relationship between the “perceived usefulness” and the “perceived ease of use” of technology and attitudes of users, using that technology or technique (Davis, 1989) The TAM model is widely used to assess the acceptance of information by users, to explain user behavior through assessing the impact of information on users in terms of trust, attitude degree and intention UTAUT proposes core factors that directly affect behavioral attitudes, namely “Performance Expectancy”, “Effort Expectancy”, “Social Influence” and “Facilitating Conditions” – which are directly affects the intention the behavior to use (Vankatesh et al., 2003) The theory assumes that the influence of factors is moderated by gender, age, experience, the latter model has omitted the influence of the ready-to-use variable Sub-conclusion of chapter In chapter 2, the author presented the main contents: Theoretical foundations of CVP analysis include: an introduction to CVP analysis and the meaning of CVP analysis; cost, volume, profit relationship; business decision overview; content of CVP analysis in the period before, during and after the business process in singleproduct and multi-product enterprises, the content includes break-even analysis, target profit analysis, selection choose a business plan when the factors of cost, volume, and selling price change; Sensitivity analysis on costs and selling prices From there, the thesis answers the first research question Introduce the theory of technology acceptance TAM (Davis, 1989) and the unified theory of technology acceptance and use UTAUT (Vankatesh, 2003), inheriting the influencing factors that have been tested in the two models to determine the factors affecting 11 12 the application of CVP analysis in making business decisions in manufacturing enterprises The factors affecting application behavior and acceptance of application in the model inherited by the author include: Perceived usefulness, Perceived usefulness; Social influence; Facilitating condition CHAPTER RESEARCH METHODOLGY 3.1 Research design Define research problem Literature review – Research gaps Theoretical Basic Research Methodology Quantitative research: - Cronbach Alpha - EFA - CFA - SEM structure model Qualities research: - Interview - Case study Application status and affecting fators Discussion and Recommendation 3.2 Proposing research model and hypotheses 13 14 Perceived usefullness CVP analysis application intention Perceived ease of use Social influence CVP analysis application Facilitating conditions Accounting Features Manager Features Enterprises Features Hypotheses: H1: Perceived usefulness of CVP analysis has positive effect to CVP analysis application intention in business decision making H2: Perceived ease of use of CVP analysis has positive effect to CVP analysis application intention in business decision making H3: Social influence of CVP analysis has positive effect to CVP analysis application intention in business decision making H4: Facilitating conditions has positive effect to CVP analysis application in business decision making H5: CVP analysis application intention has positive effect to CVP analysis application in business decision making 3.3 Research method 3.3.1 Qualitative research The author carried out qualitative research including: in-depth interviews with semistructured and unstructured questions, from which the author initially built a research model The author surveyed animal feed enterprises in Vietnam, namely Viet Long Joint Stock Company, VIC Trading Company Limited, Central Feed Joint Stock Company, and Hasco Feed Joint Stock Company In which, Central Feed Joint Stock Company and Hasco Feed Joint Stock Company represent the large-scale enterprises, Viet Long Joint Stock Company and VIC Trading Company Limited represent the small and medium scale enterprises 3.3.2 Qualitative research Determine the research sample To ensure a representative sample but a high response rate, the author applies stratified random sampling according to the following formula: Nt2 x pq n= Nε2 + t2 x pq 218 x 1,962 x 0,1875 n= = 88 enterprises 218 x 0,072 + 1,962 x 0,1875 Design the survey - Scale development - Test survey - Official survey Data collection methods Step 1: Prepare the survey form for test survey Step 2: Complete the official survey form Scale development The scales of quantitative research are built on the basis of using the scales of previous studies Step 3: Formal survey (issue questionnaire to collect information) Step 4: Receive the survey form and update information Data were updated into SPSS 20 and AMOS 20 software Step 5: Clean data The cleaned data is used to analyze and test the research hypotheses using SPSS 20 and AMOS 20 software Data analysis (methods of analysis and testing of hypotheses) The cleaned data will be entered into SPSS 20 software as a database for descriptive statistics, reliability assessment of the scale and factor discovery analysis After that, AMOS 20 software was used for confirmatory factor analysis and SEM structural model analysis to get the best results for the research model of factor analysis affecting the application of CVP relationship analysis in the field of analysis business decision making, including: Descriptive statistics; Check the reliability of the scale; Exploratory Factor Analysis (EFA); Confirmatory factor analysis (CFA); SEM structural model analysis 15 16 Sub-conclusion of chapter CHAPTER RESEARCH RESULTS In chapter 3, the author introduced the research methods, specifically: Based on the theoretical basis and the research has been done to build research models and research hypotheses; Design research methods including qualitative and quantitative research to deploy the proposed model Qualitative research method is carried out to collect initial information as a premise to determine the variables in the research model and the relationship between the variables in the model At the same time, learn and survey about applying CVP analysis in decision making at food processing enterprises in Vietnam Quantitative research methods are used to test the research hypotheses and measure the influencing factors in the model The survey questionnaire was sent to 100 feed processing enterprises in Vietnam with 280 votes, after cleaning, 250 votes were obtained that can be used The test results will show which factors have a positive and negative influence on the intention to apply and apply CVP analysis in making business decisions The combination of qualitative research methods and quantitative research methods makes the research design achieve the research objectives of the topic 4.1 Overview of animal feed processing enterprises in Vietnam 4.1.1 Introduction of animal feed processing activities in Vietnam The animal feed processing industry in Vietnam was born and developed along with the Vietnamese livestock industry Since the renovation period of the 90s, the food processing industry has experienced strong development Animal feed includes industrial feed and homemade feed Industrial feed contributes to the creation of high-quality products, is an important condition for the absorption of imported livestock breeds and modern livestock production processes in the direction of industrialization 4.1.2 Product characteristics and product manufacturing processes at feed processing enterprises in Vietnam Characteristics of animal feed products Animal feed, also known as bran, is divided into many types and divided according to the type of food for groups of animals such as feed for pigs: piglets, porkers, sows chicken feed, swan food, etc duck, feed for cows If divided by feed line, there is mixed feed and concentrated feed Production process of animal feed products Technological features of mass production of feed The feed production process is a continuous and closed production process The product production process does not have to go through many complicated stages, the time for a short production process is 60 minutes/batch for concentrated feed, 90 minutes/batch for mixed feed Products are manufactured in batches Each batch produces only one type of product 4.1.3 Characteristics of management organization and accounting organization in animal feed production enterprises in Vietnam Statistical results from the research sample show that, at present, livestock feed production enterprises in Vietnam are organized and managed according to three models: simple divisional structure, functional division structure, and organizational structure strategic unit structure 4.1.4 Characteristics of animal feed processing enterprises affecting the application of CVP analysis in decision making Characteristics of the type of business Characteristics of labor 4.2 Situation CVP analysis in animal feed processing enterprises in Vietnam 4.2.1 Statistics of research samples At the end of the survey period from February 2018 to August 2019, the number of questionnaires sent was 280 votes, and 256 votes were collected, corresponding to a response 17 18 rate of 89.5%, this rate can be considered is quite high, showing that the number of questions generated and the level of response to the question are relatively appropriate After eliminating the number of invalid answer sheets, the remaining valid votes are 250 votes, including 117 votes from the Administrator and 133 from the accountant 4.2.2 The system of CVP analysis criteria at CBTACN enterprises 4.2.2.1 Cost According to the survey results of the author, the proportion of enterprises that classify costs into variable costs, fixed costs and mixed costs is 26.15% for small and medium-sized enterprises, 92 % of large-scale enterprises The fact that businesses categorize costs into variable and fixed costs will make it possible for businesses to perform CVP analysis Enterprises often buy input materials for processing a few months in advance The choice of time and supplier is very important affecting the input cost and the cost of the product Therefore, most feed processing enterprises in Vietnam analyze cost fluctuations, mainly variable costs 4.2.2.2 Selling price Selling price of animal feed processing enterprises is built based on cost estimates divided by variable form and target profit 4.2.2.3 Selling volume According to the survey results, most enterprises conduct analysis of product structure and analyze the fluctuation of product structure affecting profits and break-even point (mean = 3.9173) 4.2.2.4 Profit According to the survey results on the percentage of businesses that classify costs according to the variable form of costs, these enterprises determine the Contributing Profit and Contributing Profit rate, focusing on businesses medium and large scale operations 4.2.2.5 Operating leverage However, according to the survey results on classification of costs according to variable costs and fixed costs, only 41% of enterprises were surveyed, which also affects the determination of operating leverage Therefore, the survey results show that not many enterprises determine the size of operating leverage (mean = 2.4962), accounting for 38.2% of surveyed enterprises 4.2.3 The current situation CVP analysis in business decision making at animal feed processing enterprises in Vietnam 4.2.3.1 Current status of CVP analysis provides information in decision making before the business process Breakeven analysis According to the survey results, animal feed businesses have initially determined the break-even point with 85/90 surveyed enterprises (accounting for 94.4%) of which 25 are large-scale enterprises (accounting for 5.4%) 100%) and 60 small and medium sized enterprises (92.3%) Thus, about the break-even point is being concerned by business managers However, feed processing enterprises still focus on determining break-even output rather than break-even revenue This is shown through the survey results that 85 enterprises determine break-even output, but only 72 enterprises determine break-even revenue (in which 100% of large enterprises determine break-even revenue, 72, 3% of small and medium enterprises) Target profit analysis Animal feed processing enterprises in Vietnam determine the consumption volume and unit selling price of the product based on the target profit Among 90 enterprises, 82 enterprises (accounting for 91.1%) determine the selling price and sales volume based on the target profit 4.2.3.2 Current status of CVP analysis provides information in decision making in the business process Large-scale enterprises pay great attention to information from CVP analysis (91% of large-scale enterprises surveyed) perform CVP analysis for business decision-making, but medium-sized enterprises small has not really paid attention (accounting for 25%) On the other hand, according to the survey results, the decisions in enterprises are mainly product pricing and consumption volume determination (mean = 3,897) In addition, there are also some businesses that make the decision to choose a business plan when the price fluctuation of input material 4.2.3.3 Current status of relationship analysis CVP provides information in decision making after the business process After enterprises make business decisions, enterprises must evaluate the results achieved to make appropriate adjustment decisions At the end of the business process, businesses need to know whether the consumption situation has been achieved as planned or not Therefore, businesses make consumption reports According to the survey, 75/90 businesses surveyed all prepared consumption reports The content of the consumption report compares the product consumption between the implementation period and the plan period 4.3 Factors affecting the application of CVP analysis in making business decisions at animal feed processing enterprises in Vietnam 4.3.1 Analyze the reliability of the scale The results of running Cronbach's Alpha for the first time show that the variable TL6 is not eligible to perform the next analysis, so it will be excluded The results of running Cronbach's Alpha for the second time show that the coefficients of Cronbach's Alpha of the variables are all greater than 0.7 and less than 0.95, statistically significant If the coefficients of Cronbach's Alpha are smaller than those of 19 20 Cronbach's Alpha, the total correlation coefficient of each scale is greater than 0.3 This shows that the scales when analyzing the reliability for the second time are statistically significant, ensuring the conditions for performing the analysis of the next steps 4.3.2 Exploratory factor analysis EFA Analysis results from initial factors with 26 observed variables, removing observed variable is not eligible, then we have KMO coefficient = 0.885 > 0.5, proving that exploratory analysis of factors is appropriate ; Bartlett's test has Sig < 0.05 (0.000), total variance extracted is 73.196 > 50%, so EFA analysis is appropriate The Eigenvalues coefficient is 1,269 > 1, which is significant at the breakpoint coefficient of 1,269, the factors that explain 73.196% of the variability of the data (Appendix 3) The loading coefficients of the observed variables are all >0.5 for both the independent and the dependent variables, proving to ensure the practical significance level of the EFA factor discovery test The EFA results show that the observed variables ensure convergent and discriminant validity The original theoretical model remains unchanged 4.3.3 Confirmatory factor analysis CFA The Cronbach's Alpha test shows that the Cronbach's Alpha coefficient of each factor is > 0.7, the total correlation coefficient is greater than 0.3, the combined reliability and the extracted variance of each factor are larger 0.5 (Table 4.18) Therefore, all factors in the model are reliable The results of the correlation coefficient analysis show that there is a correlation between the intention to apply and the factors affecting the intention to use the CVP relationship analysis Thus, the measurement results show that the proposed author's model has uniformity, reliability, convergence value, discriminant value, and is completely suitable for analyzing SEM structural model 4.3.4 Structural Model SEM The results of the regression coefficient estimation of the relationships in the model are presented in the table, this result shows that all the relationships are statistically significant (P-value < 0.05) However, the relationship between the variable CHUYENNGANH (Training major) and VANDUNG (Applying CVP analysis) has a negative Beta coefficient (β = -.178), showing the relationship between the variable Training major and the application of relationship analysis The relationship between CVP and CVP is inverse, showing that people trained in Accounting and Auditing highly appreciate the application of CVP relationship analysis in making business decisions, so they will apply higher CVP analysis According to the analysis results, the coefficients of β of the variables are all positive, showing that the relationships have the same direction, the hypotheses H1, H2, H3, H4, H5 are accepted Evaluation of factors affecting the intention to apply CVP relationship analysis The factor “Perceived usefulness” has the highest influence of the three factors on the intention to apply CVP analysis (Normalization coefficient = 0.326), the factor “Perceived ease of use” has the second highest influence Second to Intention to apply (Normalization coefficient = 0.232), the factor “Social influence” has the weakest impact on Intention to apply analysis of the CVP relationship (Normalization coefficient = 0.229) The factor “Intention to use” has a higher influence on Application (Normalization coefficient = 0.483), the factor “Favorable conditions” has a smaller impact on Application with normalization coefficient = 0.447 Assess the direct impact of factors on applying CVP relationship analysis in making business decisions The results show that the biggest influence on usage is perceived usefulness factor (λ = 0.329), the second biggest influence is perceived ease of use (λ = 0.263), followed by the influence of user factors factors of social influence (λ = 0.263), factor of favorable conditions (λ = 0.211), factor intended to apply did not affect the application of CVP relationship analysis 4.3.5 CVP relationship analysis in making business decisions and factors in the model - Evaluation of accountants and managers about "CVP analysis application" - Evaluation of accountants and managers for the factor "perceived usefulness" - Evaluation of accountants and administrators for the factor "perceived ease of use" - Evaluation of the "social influence" factor of accountants and managers - Evaluation of the factor "facilitating conditions" of accountants and managers - Evaluation of the "aoolication intention" factor of accountants and managers Sub-conclusion of chapter In this chapter, the author presents some key points about the food processing industry and the research results on the current situation of CVP analysis and the application of CVP analysis in making business decisions at food processing enterprises in Vietnam The study shows that the factors affecting the application of CVP relationship analysis include factors: perceived usefulness, perceived ease of use, social influence, facilitating conditions and application intentions In which, the factor that has the strongest influence on applying CVP analysis is perceived usefulness, the weakest influencing factor is facilitating conditions 21 22 CHAPTER DISCUSSION AND RECOMMENDATION The analysis results are completely consistent with the results of the original research model of Venkatesh et al 2003) According to the analysis results, the factors affecting the application of CVP analysis include factors, of which factors have direct influence and factors affect indirectly through other variables Two factors that have a direct influence on the application of CVP analysis are favorable conditions and intentions to apply, in which the most influential factor is the factor of intention to apply, favorable conditions have weak influence on the application of CVP analysis In addition, there are three factors that indirectly affect the application of CVP analysis through the variable Intention to use which are perceived usefulness, perceived ease of use and social influence In which social influence has the least indirect impact on the application of CVP analysis, the impact of ease of use is stronger than social influence, the strongest influence is perceived usefulness This shows that when accountants and managers find CVP analysis useful for business decision making and easy to perform, and those involved in their work find it necessary to so application, the more likely it is to apply CVP analysis to accounting work or business decision making 5.3 Recommendations for solutions to enhance the application of CVP analysis in business decisions making at animal feed processing enterprises in Vietnam 5.3.1 Recommendations for the CVP analysis Classify costs into variable and fixed costs Classify costs into variable and fixed costs For mixed costs, businesses should use the least squares method to separate variable and fixed costs Determining the selling price according to the profit contributed to serve business decision-making In order to serve to make decisions on selling prices in specific consumption situations, to ensure price competitiveness for products sold after the break-even point, the author recommends that managers determine the selling price according to the variable form of costs, that is, removing the fixed part of CPSXC from the selling price Determine the break-even point according to the contribution profit method The break-even point should be determined at the time before the business process, as a basis for enterprises to make business plans as well as to proactively make decisions with consumption plans that change during the business process To analyze breakeven point, breakeven factors such as breakeven volume, breakeven revenue or breakeven time need to be determined based on variable costs, fixed costs and profit contribute Determining the value of operating leverage to analyze profit fluctuations According to survey results, only 38.2% of enterprises have determined operating leverage Thus, the percentage of enterprises that can identify DOL is not high That will lead to limitations in determining the volatility of profits when choosing a business plan With the meaning of the DOL indicator, the author recommends that feed mills in Vietnam need to determine the DOL indicator to quickly determine the volatility of profits in order to 5.1 Orientation and development goals of animal feed processing enterprises in Vietnam 5.2 Discussion research results 5.2.1 Evaluation of the current situation of CVP analysis application in making business decisions at animal feed processing enterprises in Vietnam According to the survey sample selected by the author, the survey results with 250 votes were meaningful, of which the response rate was 133 votes for accountants (including chief accountants and accountants) and 117 votes for administrators (directors, deputy directors, branch directors, functional department heads) This shows that managers are quite interested in CVP analysis and applying this analysis to their decision making Through the process of studying the actual situation of applying CVP analysis, it shows that the application focuses on large-scale enterprises, and small-scale enterprises mainly only determine the break-even point and selling price, the full cost determination does not serve well for business decision making For businesses that are applying CVP relationship analysis mostly because they perceive the analysis's usefulness, ease of use is also assessed as a factor affecting the intention to apply, such as helping Managers have the right information to help make quick and timely decisions, helping to increase the work efficiency of each position In addition, many businesses apply CVP relationship analysis not because they perceive the ease of use or usefulness of the analysis, but because of the influence of experienced people and those who have knowledge of the relationship related to the work of accountants and managers also apply CVP relationship analysis to business decision making, albeit at a lower level These factors all increase the intention to apply the analysis of CVP relationship of accountants and managers 5.2.2 Research results of factors affecting the application of CVP analysis in business decision making The research model is based on the fundamental theory of acceptance and use technology UTAUT by Venkatesh et al (2012) combined with the TAM technology acceptance model (Davis, 1998) with scales inherited from these two models With 250 research samples, the results of the thesis show that all factors have a positive influence on the intention to apply CVP analysis and apply CVP analysis By evaluating the research scale through Cronbach's Alpha test and factor discovery analysis, it shows that the built factors all reach the necessary reliability values Confirmatory factor analysis showed that the model was compatible with market data, achieving convergent and discriminant validity That shows the factors affecting the intention to apply and the behavior of accountants and managers towards applying CVP analysis in making business decisions 23 24 make a decision to choose a business plan in a timely manner Increase self-production of input materials to reduce product costs and take initiative in raw material sources In order to reduce the cost of feed products, enterprises should consider the option of self-producing input materials Self-production will help businesses be proactive about input materials, reduce dependence on foreign raw materials and the influence of the domestic market when there is a fluctuation of the global feed market gender This analysis needs to be done before the business process, helping the business to choose a plan and develop an implementation plan 5.3.2 Recommendations of influencing factors - Raise awareness of the usefulness of accountants and administrators - Raise awareness of ease of use for accountants and administrators - Increasing social influence for accountants and managers 5.4 Conditions for implementing the solution On the State side - The State needs to have a policy to review the development planning of the feed industry - Focus on quality management of the feed industry - Building concentrated raw material areas Towards the Ministry of Finance The Ministry of Finance also needs to have many guiding documents on management accounting On the business side - For business managers - For accountants On the side of accounting training institutions Training combined with practical seminars on management accounting CONCLUSION Sub-conclusion of chapter Based on the research results in Chapter and the development orientation of the feed industry, Chapter discussed the research results, evaluated the research results, and proposed solutions to enhance the application of CVP analysis in business decision making The direction of improvement is determined based on the survey results on the current state of CVP analysis, the application status and factors affecting the application of CVP analysis Chapter concretizes the direction into specific solutions on costs, break-even points of the CVP analysis and solutions to improve the influence of factors that positively affect the decision to apply of managers and accountants Vietnam's animal feed processing industry is having many development opportunities as well as facing many challenges in the process of international economic integration Applying CVP relationship analysis to provide useful information for business decisionmaking is essential for the survival and sustainable development of pet food processing enterprises Applying CVP relationship analysis in feed processing enterprises is a key issue in helping managers make the right decisions to be able to bring products to the market at the same time reasonable selling price, both having a budget to invest in research and development of new products, choosing appropriate marketing measures, thereby creating more profits for businesses According to the set objectives, the thesis has accomplished the following contents: The thesis has presented an overview of research works in the world and in Vietnam on applying CVP analysis in making business decisions, and researches on factors affecting business decisions apply this analysis The thesis has systematized the basic theoretical issues of CVP analysis in manufacturing enterprises (1) The nature of CVP analysis and the system of criteria in the CVP relationship (2) Overview of CVP analysis (3) Identify factors affecting the application of CVP analysis in making business decisions At the same time, the thesis has reflected and clarified the current situation of analyzing and applying CVP analysis in making business decisions at food processing enterprises in Vietnam application of CVP analysis in animal feedprocessing enterprises in Vietnam through the inheritance of influencing factors in TAM and UTAUT theoretical models including perceived usefulness, perceived ease of use, social influence and facilitating conditions Thesis development direction: On the basis of research applying of CVP analysis in business decision making, the limitation of the study is that it only conducts a survey for 100 food processing companies, so the representativeness is not thorough The author has not studied the interplay between influencing factors and analyzed the difference of control variables through multi-group analysis Therefore, this issue offers a new research direction for the author's further studies  ... tổng quan trên, tác giả tìm thấy khoảng trống nghiên cứu cho đề tài nghiên cứu vận dụng phân tích CVP việc định kinh doanh doanh nghiệp CBTACN Việt Nam, đồng thời tác giả kế thừa nhân tố ảnh hưởng... UTAUT để nghiên cứu nhân tố ảnh hưởng đến vận dụng phân tích CVP doanh nghiệp CBTACN Việt Nam From two general conclusions, the author has found a research gap for the thesis, These are reaearching... accountants, decentralization, application of information technology, organizational structure, strategy Nguyen Thi Ngoc Oanh (2016), Nguyen Quoc Hung and Le Thi Tu Oanh (2020), Cao Thi Huyen Trang and