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Nghiên cứu việc vận dụng chuẩn mực kế toán – Trường hợp các doanh nghiệp nhỏ và vừa trên địa bàn tỉnh Gia Lai.Nghiên cứu việc vận dụng chuẩn mực kế toán – Trường hợp các doanh nghiệp nhỏ và vừa trên địa bàn tỉnh Gia Lai.Nghiên cứu việc vận dụng chuẩn mực kế toán – Trường hợp các doanh nghiệp nhỏ và vừa trên địa bàn tỉnh Gia Lai.Nghiên cứu việc vận dụng chuẩn mực kế toán – Trường hợp các doanh nghiệp nhỏ và vừa trên địa bàn tỉnh Gia Lai.Nghiên cứu việc vận dụng chuẩn mực kế toán – Trường hợp các doanh nghiệp nhỏ và vừa trên địa bàn tỉnh Gia Lai.
MINISTRY OF EDUCATION AND TRAINING THE UNIVERSITY OF DA NANG NGUYEN THI CAM VAN RESEARCH ON APPLICATION OF ACCOUNTING STANDARD – IN CASE OF SMALL AND MEDIUM ENTERPRISES AT GIA LAI PROVINCE Major: Accounting Code: 62.34.03.01 SUMMARY OF DOCTORAL THESIS DaNang - 2021 The work was completed at: THE UNIVERSITY OF DA NANG Supervisor: Associate Professor Dr Hoang Tung Associate Professor Dr Ngo Ha Tan - Reviewer 1: - Reviewer 2: - Reviewer 3: The dissertation will be defended in front of the Council of PhD thesis in Economics meeting at University of Danang On the day month The dissertation can be found at: - National library of Vietnam - The Center for Learning Information Resources and Communications - The University of Danang - INTRODUCTION Introduction - Following country’sinnovation; small and medium Enterprises play an important role, great contributions to stability and economic development of Vietnam According to Vietnam Association of Small and Medium Enterprises (VINASME), there are 96% of enterprises registrating as small and medium enterprises This group contributes about 40% GDP and creates annually over one million jobs Mostly untrainningworkers participate on this group - For this importance, accounting system for small and medium enterprises firstly declared in 1996 and has updated, edited many time to make sure the system is suitable for Viet Nam economic innovation These changes followed by announcement of Accounting Law in 2003 and accounting standards for enterprises from 2000 to 2005 However, Viet Nam’s accounting standar has been applied for large enterprises; in some cases, it is used for small and medium enterprises In spite of significant changes, the studies on application of accounting system and accounting standard on small and medium enterprises were limited - There for, if we only read financial reports, we will not make good ideas and compare exactly between enterprises in order to make great investement decision So that, application of accounting standard on enterprises is necessary, helpful for collecting and analysing information The announcement and application of accounting standard are the way to improve trust for people who read and use financial report, as well as prevent cheating and lack of transparency on making and presenting financial report at enterprises Gia Lai is an Western Highland province, where small and medium enterprises place an important role in social- economic development However, these small and medium enterprises have large numbers, by contracts have small scale; employees are mostly undergraduate, out update and poor technologies, weak capital and small markets… On other hand, the cooperation, connection and - prevention between enterprises are highly likely weak In which, development of small and medium enterprises was significant mission, was considered by Gia Lai Provincial People's Committee and was run from 2017-2021 Gia Lai Provincial People's Committee always makes great enviroment, helps enterprises starting business, creativity and innovation in order to promote the effectivity of enterprises One of the solution is that building structure of small and medium enterprises is extremely strong and effective; in which accounting plays an important role to enterprise development Applying correctly accounting standard will helps enterprises control successfully information function and accountant checking; self-evident improving on financial reports As a result, its helps businessman and investors making reasonably decisions to enhance business effectivity - For reasons, author has been run the thesis: “Research on application of accounting standard – in case of small and medium enterprises at Gia Lai province” This study is highly likely to be background on standard making orientation, as well as tutorial circular that are more reasonable The study has considered behaviors of accountant at enterprises in order to orientate role of accounting at enterprises Literature review - There are many study directions with regard to accounting standard including: - Study on announcement of accounting information following requirement of accounting standard - Study on application of policies, accounting selection at enterprises - Study on impact factors on application of accounting standard Each research branch has largely objectives, so that the thesis has only focus on the third direction as impact factors on application of accounting standard The contents are also appropriate theories which are exploiting usefully information; making decision; - stakeholdertheories and cultural theories of Hofsted - + Factors which are specific operation of enterprises - + Factors which are belonging to outside environments Objects - Evaluating application of accounting standard at small and medium enterprises at Gia Lai province; - Analysing factors which impact on application of accounting standard at small and medium enterprises at Gia Lai province; - This thesis present policy suggestions in generally and policy suggestions for Gia Lai province in particularlly Questionnaire - The research has three key questions: - Question 1: How to apply accounting standard at small and medium sized enterprises at Gia Lai Province? - Question 2: What are factors affecting on application ofaccounting standard at small and medium sized enterprises at Gia Lai Province? - Question 3: What are policy suggestions in order to apply successfully and highly effectively accounting standard at small and medium sized enterprises? Object and scope of the study Object - The thesis focuses on application and immediate impact factors to application of accounting standard at small and medium sized enterprises; especially standard groups which are relative to common accrued activitiesat small and medium sized enterprises: inventory, fixed assets, revenue - Scope of the study - Small and medium sized enterprises at Gia Lai province - Standard groups which relate to daily economic activities at enterprises: inventory, fixed assets, revenue - Time: January 2016 to May 2017 Methodology of study Theoretical basic - The study has been ultilezeduseful theories of information and making decision, stakeholder theories and cultural theoretical Hofsted and Gray to background of research theory for application of accounting standard at small and medium sized enterprises - Methods - Qualitative analysis: historical study that bases on literature reviews and economic expert suggestions to build research model; interview method, data analysis and synthesis; financial report comparation of enterprises - - Quantitative analysis: Descriptive statistical analysis; using Likert scale to evaluate ideas of interviewers - Cronbach AlphaAnalysis, exploratory factor analysis (EFA); test regression equation by ordinary least squares (OLS); test multi linear addition and normal distribution of Histogram to evaluate and find out imfact factors on application of accounting standard at small and medium sized enterprises at Gia Lai province Source and data collective method The research has used primary data via direct interview by questionnaire and collecting financial reports from January 2016 to May 2017 Result includes 340 questionnaires as specimens of study Contribution of Thesis The Thesis has analysed the need of application of accounting standard at at small and medium enterprises in general and at Gia Lai province in particularly Besides, author has built impact factor models on application of accounting standard at at small and medium enterprises via quantative approaches, instead of qualitative approaches like previous studies Structure of Thesis - Includes: - Introduction - Chapter 1: Theory and reality of application of accounting standard at enterprises in small and medium enterprises - Chapter 2: Design of Thesis - Chapter 3: Results of Thesis - Chapter 4: Conclusion and policy suggestion Chapter THEORETICAL BASES AND PRACTICE OF APPLYING ACCOUNTING STANDARDS IN SMALL AND MEDIUM ENTERPRISES 1.1 Accounting standards and the role for economic development in small and medium enterprises 1.1.1 International accounting standards International Accounting Standards (IAS / IFRS) are general principles that was established, to regulate measurement issues and to disclose information for users The first international accounting standards (IAS) were issued in 1973 by the International Accounting Standards Committee (IASC) with 10 members form different countries There have been more than 100 countries in the world used IAS / IFRS so far Some countries, however, integrated with IAS / IFRS more slowly, the benefits of using IAS / IFRS are still unclear The globalization of the capital market has had a strong impact on the international integration process on accounting standards In order to accelerate the process of accounting integration - in 2001, the International Accounting Standards Board (IASB) was established on the basis of the International Accounting Standards Committee (IASC) with a tight organizational structureand more independent IASB's goal is to "create a system of accounting standards that serve the common benefits, high quality,easy to understand and be applicable worldwide; and require that the information in the financial statements be clear and comparable in order to help people participating in the different capital - markets around the world as well as other information users make economic decisions ” and "bringing integration between national standards systems and IFRS" The system of international accounting standards does not have formal requirements with formats such as unified reporting forms, unified accounting accounts system, accounting book forms, forms of unified documents.However, it creates a unified legal framework for measuring and disclosing information so that businesses in countries can process and publish information according to the same standards It is a way for accounting information to be comparable and a basis for increasing benefits for users It is also the basis to pay the way for investment flows, trade flows among countries in the context of international integration - 1.1.2 Vietnam accounting standards - Vietnam began to integrate internationally through the economic open policy in the late 1980s Be parallel with this process, many institutions in Vietnam have renovated radically, including accounting to approve accounting information in Vietnam gradually to integrate with the international trend Vietnam accounting standards were first issued in 2001 and 26 accounting standards have been issued up to now Vietnam has no separate accounting standards for Association of Small and Medium Enterprises (SMEs) SMEs can apply this accounting standard system and SME accounting system according to the previous Decision 48/2006 / QD - BTC, and currently Circular 133/2016 / TT - BTC This system is issued on the basis of a simplified account and financial system When an enterprise chooses this system, some Vietnamese accounting standards are allowed to exclude all or part Unlike other countries in the world, accounting standards are drafted and issued by accounting professional organizations.In Vietnam, the Ministry of Finance, in the other word, the Department of Accounting and Auditing is directly responsible for issuing accounting - standards This characteristic stems from the role of state management of financial activities in general and accounting in particular in a country according to the socialist-oriented market economy 1.1.3 Benefits of applying accounting standards in businesses The application of accounting standards in businesses will help to shorten the gap between the accounting integration of Vietnam and the world, create conditions to attract investment capital of domestic and foreign investors effectivelythanks to the transparency of the information in the financial reports, reflecting the right situation for users to have evidences for comparing the financial situation among businesses themselves, creating trust for investorswhen the evaluation offinancial information was published the most accurate Besides, the application of accounting standards will also contribute to the development of national accounting and auditing activities When an enterprise applies accounting standards into practice, it basically shows that the content of the standards is consistent, there is no conflict with the current financial institutions, thereby creating favorable conditions for businesses in the implementing process This facilitates accounting and auditing during the inspection process, accounting standardsare - indispensable 1.1.4 Measurement application of accounting standards A review of previous studies has shown two approaches to measurement This first approach us ����� ������ �� ��������� ������� 1.2 Theories related to the application of accounting standards in - enterprises 1.2.1 Decision - usefulness theory The decision - usefulness theoryproposed by Staubussin 1961 is considered as the foundation of applying accounting standards in enterprises Accounting in every business is the process of collecting, processing and providing information to stakeholders for decision making Accounting standards which are issued within each country or internationalized are to ensure the comparability, reliability and relevance to accounting information users In that respect, when making decisions based on information, this theory is the foundation for applying accounting standards in enterprises 1.2.2 Theory of stakeholders Stakeholder theory was first used by Freeman Edward in 1984 In terms of management, this theory is concerned with the difference in the power of the stakeholders and with its influence on enterprises’ behavior to meet the expectations of stakeholders (Deegan, 2013) This theory was first introduced by Spence in 1973 to explain information asymmetry in the labor market, then it is also used to explain the problem of voluntary disclosure in the reports of company Theoretical content describes the behavior of two parties: provision and access to information The informant must choose what information to provide and how, the receiving side must find ways to understand the information Accounting information is the signal established on the basis of accounting standards 1.2.3 Signal theory 1.2.4 Cultural theoryof Hofstede and Gray In Hofstede’s research (1980), he pointed out four main factors that led to cultural differences among countries including individualism, power distance, uncertainty avoidance and long -term - - - - 2.1.2Develop research hypotheses Hypothesis H1: The large firms impact positively on the application of accounting standards Hypothesis H2: Profitability has a positive impact on the application of accounting standards Hypothesis H3: The level of use of bank debt has a positive impact on the application of accounting standards Hypothesis H4: Entrepreneurs' behaviors and perceptions about accounting work on business activities have a positive impact on the application of accounting standards Hypothesis H5: The profession of accountants and the quality of human resources have a positive impact on the application of accounting standards Hypothesis H6: Consultancy of auditing organizations, tax authorities, regular and continuous accounting community will have a positive impact on the application of accounting standards Hypothesis H7: Guidance document accounting practice has a positive impact on the application of accounting standards Hypothesis H8: Benefits from applying accounting standards, if enterprises apply ASs well, the benefits forthem will be higher 2.1.3Building a research model The model estimates factors affecting the application of accounting standards in enterprises - H1(+) Scale of enterprises H2(+) Profitability Applying accounting standards H3(+)to small and medium- sized businesses Loan usage levels Awareness of business Accounting profession H4(+) H5(+) H6(+) Tax / audit impacts - H7 (+) Legal document system H8 (+) Benefits of using ASs 2.2 Designing measurement variables and choosing research sample - 2.2.1 Measure variables - Dependent variable - Level of application of accounting standards Accounting Total standards used in enterprises i -standard - ratio using in = - Total standards applied for SMEs enterprises i - - Independent variable: Relating to characteristics of enterprise Meas Factor Initial urement after measurement checking data Scale Total assets Log (Total assets) Profitability ROS = Profit/ Log (ROA) revenue Debt levels Debt/ Total Log (debt ratio) assets - 2.2.2 Choosing research sample 2.3 Objects and data collection methods 2.3.1 Subject-matter of the investigation Being the chief accountant or accountant working at the enterprises 2.3.2 Data collection methods The questionnaire was established based on preliminary research results, consisting of two parts The content is stated on a 5point Likert scale (from - totally disagree to - totally agree) The data was collected through direct survey method and the combination of reference of annual financial statements of enterprises with sample size n = 350 2.4 Data processing methods 2.4.1 Adjust the scale 2.4.2 Data processing - Descriptive statistics - Methods for assessing reliability of the scale - Analyze the discovery factor EFA 2.4.3 Regression testing methods Running linear regression by using the least squares method (O LS) using the Enter method 2.4.4 Hypothesis testing method in regression model - Check the phenomenon of multicollinearity - Test the standard distribution of the residual estimation CHAPTER RESEARCH RESULTS 3.1 Characteristics of small and medium-sized enterprises in Gia Lai province 3.1.1 General situation of small and medium- sized enterprises in Gia Lai province SMEs account for approximately 97% of the province's businesses, mostly microenterprises (79%) operating in a variety of sectors 3.1.2 Characteristics of research samples Commercial enterprises account for the highest proportion, in line with the economic development characteristics of the province 3.2 The situation of applying accounting standards in small and medium-sized enterprises in Gia Lai province 3.2.1 General assessment Respondents answered ‘Yes’ or ‘No’ in the questionnaire which wasused the criteria in the 19 categories of standards applying for SMEs The author used the statistical index Index I = ∑_ (i = 1) ^ 19▒VAS / 19 to calculate the level of applying accounting standards According to Circular 133/2016 / TT - BTC - accounting regime for SMEs, there were19 out of 26 accounting standardsapplied in SMEs, depending on the characteristics of the business Of those 19 standards, which standards did enterprises apply, which standards did not apply? The results showed that any enterprise with a higher index indicated that the business used many standards and vice versa The survey results showed that all SMEs were applying accounting standards The level of application, however,was not the same, ranging from 26.3% to 89.5%, meaning that enterprises applying the least standards reachedonly 26.3% while businesses applying the most standardsreached 89.5% No enterprises applied 100% accounting standards for SMEs The survey results on the board were divided into three groups - Standards with an average usage rate of over 80% are assessed as having frequent use (standard groups related to daily activities such as inventories, fixed assets and financial report, revenue recognition), over 50% rated the level of use as over average, below 50% is considered as a standard having low usage level or rarely use 3.2.2 Assess the situation of applying common accounting standards among small and medium-sized enterprises in Gia Lai Through the research results on the application of accounting standards for SMEs in Gia Lai province,the author selected a group of standards with high utilization rates, directly related to the unexpected daily activities to assess each item rating for measurement and disclosure, the accounting standards of inventory, the standards of fixed assets and the standards of revenue recognition and other income had the highest rate and were considered as a group of standards applied regularly in SMEs - Standards of inventories: The main accounting method is regular declaration, weighted average price, the provision for devaluation of inventories was only 37.65% because it was believedto be difficult to determine price in the market The original price reflected the standard, disclosing information in the financial statementsshowed that: The rate of application was above average, the items were applied reasonably, accurately and flexibly by enterprises Inventory accounting standards prescribed from the receipt, reflection of the original cost to the preparation of financial statements - Standards of Fixed assets: Cost was fully reflected by the standards (100%), the evaluation recorded later, the first time still followed the adjustment trend to ensure profits,almost enterprises used the equal depreciation method From the perspective of information disclosure, most businesses adhered to the principle However, the application of standards was also affected because some indicators were not reflected accurately due to the experience and habits of accountants - Standards of revenue and other income Transactions relating to recording and determining revenue were carried out in detail The level of application of the standards in businesses was relatively high except for profits and dividends 3.3 Analyzing and assessing the scale of factors affecting the application of accounting standards in SMEs in Gia Lai province 3.3.1 Assess the reliability of the scale Cronbach’s alpha analysis results of scales including business owners’ awareness, accountants’ qualifications, tax impact, auditing, system of legal documents, benefits of applying accounting standards showed that all measurement concepts reached0.70 or higher according to the coefficient of Cronbach’s Alpha Thus, the scale of factors affecting the application of accounting standards in SMEs achieved the required reliability The variables which qualified after analyzing Cronbach Alpha would be further analyzed exploratory factor analysis (EFA) 3.3.2 Exploratory factor analysis EFA After analyzing the exploratory factor analysis (EFA), the factors revealed the changes of the order of observed variables: The first factor consists of variables called Accountant qualifications The second factor consists of variables called Benefits of applying AS The third factor consists of variables called System of legal documents The fourth factor consists of variables called Awareness of Business Owners The fifth factor consists of variables called Impact of auditing - taxes 3.3.3 Regression analysis - Correlation analysis Based on the correlation, we find the proposed research model suitable for the data set: the components of the independent variable are - correlated with the application of accounting standards in SMEs (Sig -