MINISTRY OF FINANCE ACADEMY OF FINANCE -------- Graduation Thesis Topic: Completing Accounting for Service provision and Evaluating business results at ThaiSon International Import Export Company Limited Student: Nguyễn Thùy Dương Student Code: 17523403010407 Class: CQ55/21.10 Tel: 0356942398 Instructor: Master Nguyễn Hương Giang HÀ NỘI -2021 TABLE OF CONTENT ACKNOWLEDGEMENTS. 3 CHAPTER1: BASIC THEORETICAL ISSUES ABOUT SERVICE PROVISION ACCOUNTING AND DETERMINING BUSINESS RESULTS IN SERVICE ENTERPRISES.1 General overview of Service provision Accounting and Determination of business results .1 Service provision and Determination of Business results .2 The role of Service provison accounting and Determination of bussiness results .3 Method of service provision .5 Duties of services provision accounting and determiration of business results. Basic content of Service provision Accounting and Determination of business results .1 The basic principles and accounting standards govern Service provision accounting and Determination of business results. The basic principles .2 Accounting for service provison and services revenues.
Accounting services revenue and Revenue deductions. Cost of goods sold accounting. Accounting for expenses and revenue from financial activities. Accounting of financial revenue.
Accounting for financial expenses .4 Accounting for Selling and Adminitrative ExpensesThe concept and contents of Expenses .General and adminitration expenses .5 Accounting for other expenses and income. Accounting of other income. Accounting for other expenses .6 Accounting for corporate income tax expenses .7 Accounting for determining business results. Accounting books used in Service provision Accounting and determination of business results.
Detailed accounting books. General accounting books. Forms of bookkeeping. Service provision accounting and business results in terms of accounting software applications .5 Disclosure of service supply accounting and business results information in financial statements.
Cash Flow Statement (B03).55 CONCLUSION OF CHAPTER 1:.57 CHAPTER 2: CURRENT SITUATION OF SERVICE PROVISION ACCOUNTING AND DETERMINATION OF BUSINESS RESULTS AT THAI SON INTERNATIONAL IMPORT, EXPORT COMPANY LIMITED. Overview of Thai Son International Import, Export company limited. The process of formation and development of the company. Business characteristics and production processes of the company.Organizational characteristics of production and business at Thai Son International Import, Export company limited.
Organizational accounting system at Thai Son International Import, Export company limited. Current fianancial accounting situation of Service provision accounting and determining business results. Features service provision activities and determine business results at the company .2 Accounting for service provision and services revenue. Accounting services revenue and Revenue deductions .1 Accounting services revenue.
Accounting revenue deductions. Cost of goods sold accounting .3 Accounting for expenses and revenue from financial activities. Accounting of financial revenue. Accounting of financial expenses .4 Accounting for selling and administrative expenses .Selling expenses accounting.2 General and administration expenses accounting.
Accounting for other expenses and income. Accounting of other income. Accounting of other expenses. Accounting for corporate income tax expenses.
Accounting for determination of business results. Presentation of information on the financial statements for accounting of service provision and determination of results. Evaluation of accounting of service provision transactions and business results at Thai Son International Import, Export company limited. The achievements of the company.
Company limitations and improvement requirement. Reasons of limitions .138 CONCLUSION OF CHAPTER 2.140 CHAPTER 3: SOME SOLUTIONS TO COMPLETE SERVICE PROVISION ACCOUNTING AND DETERMINE SERVICE BUSINESS RESULTS AT THAI SON INTERNATIONAL IMPORT, EXPORT COMPANY LIMITED .1 Requirements and principles for completing the Service provision Accounting and determining Service provision results .1 Request for completion .2 Principles of completion .2 Content completed suggesstion .3 Conditions for implementing the solutions .155 CONCLUSION OF CHAPTER 3.157 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 LIST OF ABBREVIATIONS USED IN THE THESIS Abbreviations Full meaning Acc Account ThaisonCo.ltd Thai Son international import,export company limited AdE Adminitrative expenses SpE Service provision expenses FE Financial Expenses FR Financial revenues OthR Other revenues 1 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 ACKNOWLEDGEMENTS I would like to assure that the thesis “ Completing Accounting for Service provision and Evaluating results in business at Thai Son International Import, Export Company Limited” is my own research. The figures and results stated in the graduation thesis are honesty stemming from the actual situation of Thai Son International Import, Export Company Limited, under the enthusiastic guidance of Nguyen Huong Giang M.A If there are any problems, I will take full responsibility. Students Duong Nguyễn Thùy Dương 2 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 FORE WORD 1, Urgency and significance of the research topic As we all know, the covid-19 pandemic has affected the entire world economy, including Vietnam.
However, there is a new economic sector, the logistics industry that is developing in the direction of positive growth, providing extremely good opportunities for the Vietnamese economy. One of the activities in the logistics service provision chain is transport services. This service appears when there are the purchase and sale of two domestic and foreign entities. Thereby, service companies in general and transport service companies, in particular, have grown and appeared more in recent years in Vietnam.
So how to manage input and output well in a service company, we need to consider the factors this business must spend and the economic benefits gained. From an accounting perspective, it means we need to look at how service companies are making profits to understand why the trucking industry has potential in Vietnam. In accounting, Revenue is a top concern of all businesses- in general and service enterprises in particular. Efficient work on the consumption stage will help the enterprise recover its own capital and assist the production and business process, also fulfill the socio-economic goals and improve the production and business efficacy.
Enterprises- in general, and service enterprises- in particular, apply different forms to promote and manage the process of goods consumption. One of the most important and effective measures to mention is the accounting of service provision and business results. Service provision accounting and determination of business results are issued by the state through the enactment of accounting laws, guiding circulars, accounting standards, and other relevant legal documents. However, due to the different business conditions of enterprises, in order to suit each form in the enterprise, the accounting of each enterprise is different.
Therefore, the accounting at enterprises contains mistakes, confusions, and problems that need to be addressed and discussed in reasonable for being able to accurately reflect the nature of each arising economic operation. 3 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 Through the time working as an interns at the Thai Son International Import,Export Company Limited , I was able to research the actual accounting work at the company. Knowing the importance in accounting and service provision and determining service provision results, at Thai Son International Import Export Company Limited, besides its advantages, there are limitations that need to be completed. Therefore, I would like to choose my research topic, "Completing Accounting for Service provision and evaluating results in business at Thai Son International Import Export Company Limited” 2, Purpose of the topic - First, Systematize theoretical issues related to service provision accounting and determine business results in the enterprise, regulations of the accounting regime, current accounting standards; reinforce and help students themselves to better understand and understand what they have learned.
- Second, Clarify the business characteristics and accounting work of the Company thereby clarify the current situation of accounting and service provision accounting and determine revenue from services rendered - Third, Point out the advantages, limitations, points that are not reasonable in service provision accounting and determine service provision results to help the company see what has been and has not been done, thereby proposing a Number of solutions and opinions to improve service provision accounting and determine service provision results at Thai Son International Import, Export company limited. 3, Subject and scope of the research Research subjects: Organizing service provision accounting and determining service provision results at Thai Son International Import, Export company limited. At Thai Son, there are many types of services is provied. But the period of time that I have opportunity to study and research, is quite limited.
Thereby, I will primarly 4 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 focus on providing transportation service,which is the activity created lots of economic benefits for ThaiSon. Research range: Practical research on service provision accounting and determination of service provision results at Thai Son International Import, Export company limited. I only focus on operations happened in December 2020 for transport services accounting, throungh the information I collected, I can be able to have overview for the specific operations at Thai Son Document used: Actual information and data surveyed and collected during the internship at Thai Son International Import, Export company limited. 4, Method of researching the topic Interview and observation method: This method is applied by observing the actual operation process of the company in order to get an accurate view and collect appropriate data.
Data collection method: This method is based on actual vouchers arising from economic operations, which have been gathered into accounting books and checked for accuracy, suitability and completeness of vouchers. Analysis method: This method applies the calculation and comparison of data of the above methods to analyze the difference between theory and practice and draw appropriate conclusions. 5, Structure of the thesis Chapter 1: Basic theoretical issues about Service provision accounting and Determining Service provision results in commercial enterprises Chapter 2: Current situation of Service provision accounting and determination of business results at Thai Son International Import, Export company limited 5 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 Chapter 3: Some solutions to complete Service provision Accounting and determine Service provision results at Thai Son International Import, Export company limited Due to limited internship time, reasoning as well as knowledge about reality is limited, this thesis can not avoid shortcomings. So I am always looking forward receiving the suggestions of the teachers of the Accounting Department – Academy of Finance.
6 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 CHAPTER1: BASIC THEORETICAL ISSUES ABOUT SERVICE PROVISION ACCOUNTING AND DETERMINING BUSINESS RESULTS IN SERVICE ENTERPRISES.1 General overview of Service provision Accounting and Determination of business results 1.1 Service provision and Determination of Business results Concept of service provison: According to the economic law of 2013, services are intangible goods in the production and consumption process that are inseparable from each other, including services in the system of Vietnamese products following the law In economics: Services are understood to be things that are similar to goods but intangible. Some products favor tangible products and those that are more about services products, but most of them are products in the relation between products, and services. Service provision means a commercial activity in which one party is obliged to perform a service (service supplier) to another party and receive payment, and the service user (the customer party) is obliged to pay to the service provider and use the service as agreed The services provision process inenterprises in general and services firms in particular has following main characteristics: + There is an agreement between the buyer and seller, the seller agrees to sell, the buyer agrees to buy, they pay or accept to pay. + Giving customers the best product satisfaction possible when using the services that the company has provided Definition of business results dertermination.
7 Instructor: Master Nguyễn Hương Giang Student: Nguyễn Thùy Dương 55/21.10 Determination of business results is the comparison between the costs spent and the revenue earned in the period from whole activities arised of the enterprise. If the revenue is greater than the cost, the business result is profit and vice versa, if the revenue is less than the cost, the business result is a loss.