MINISTRY OF EDUCATION AND TRAINING HO CHI MINH CITY UNIVERSITY OF TECHNOLOGY AND EDUCATION FACULTY FOR HIGH QUALITY TRAINING CAPSTONE PROJECT ACCOUNTANCY ACCOUNTING FOR REVENUE AND EXPENSES AND DETERMINING BUSINESS RESULTS AT TAN CANG LOGISTICS AND STEVEDORING JOINT STOCK COMPANY LECTURER: MBA. PHAM HIEU STUDENT: CAO THI MINH SKL012363 Ho Chi Minh City, November 2023 MINISTRY OF EDUCATION AND TRAINING HO CHI MINH CITY OF TECHNOLOGY AND EDUCATION FACULTY OF ECONOMICS GRADUATION THESIS ACCOUNTING FOR REVENUE AND EXPENSES AND DETERMINING BUSINESS RESULTS AT TAN CANG LOGISTICS AND STEVEDORING JOINT STOCK COMPANY Supervisor: MBA. Phạm Hiếu Student: Cao Thị Minh Student ID: 20125191 Class: 201252A Course: 2020 Ho Chi Minh City, November 2023 1 INSTRUCTOR'S REMARK TARGET CONTENT PRESENTATION TOTAL SCORE COMMENTS. Ho Chi Minh City, November 2023 Signature MBA.
Phạm Hiếu i CỘNG HÒA XÃ HỘI CHỦ NGHĨA VIỆT NAM Độc lập - Tự do - Hạnh phúc BẢN NHẬN XÉT CỦA CÔNG TY THỰC TẬP Công ty:. Họ và tên người nhận xét:. Họ tên sinh viên:. Mã số sinh viên:.
thuộc khoa Kinh tế trường Đại học Sư phạm Kỹ thuật Tp. Thời gian thực tập từ. VỀ KẾT QUẢ CÔNG VIỆC 1. Nội dung công việc được phân công:.
Xếp loại chung: Tốt Khá Trung Bình Kém II. VỀ Ý THỨC KỶ LUẬT, TINH THẦN, THÁI ĐỘ TRONG QUÁ TRÌNH THỰC TẬP 1. Việc chấp hành nội quy của công ty:. Tinh thần làm việc của sinh viên:.
Thái độ của sinh viên:. NHẬN XÉT CHUNG ĐỐI VỚI SINH VIÊN ĐẾN THỰC TẬP 1. Ưu điểm nổi bật: ., ngày … tháng… năm 20… Người phụ trách hướng dẫn Đại diện công ty (Ký tên, đóng dấu) ii ACKNOWLEDGMENTS I would like to express my profound gratitude to all instructors from the Faculty of Economics at the Ho Chi Minh City University of Technology and Education, who have devoted their lives to instruct and give me a great deal of knowledge. I want to express my gratitude especially to Mr.
Pham Hieu, who gave me direct guidance and assistance in finishing this graduation thesis. I want to express my gratitude to Tan Cang Logistics and Stevedoring Joint Stock Company's Board of Directors, and my colleagues in the Finance - Accounting Department for enthusiastic mentoring and sharing about useful knowledge, skills, and real-world experience that is necessary for the job. Due to the internship period restriction and my relevant knowledge and experience, it will be hard to avoid inaccuracies in my report. The opinions of the professors are eagerly anticipated! Sincerely thanks! Ho Chi Minh City, November 2023 Signature Cao Thị Minh iii LIST OF ABBREVIATIONS Acc Account Co., Ltd Limited Company Cr Credit Dr Debit Dept Department ICD Inland Container Depot IR Investor Relations JSC Joint Stock Company TCL Tan Cang Logistics TTOS TCIS - Terminal Operation Solutions VAS Vietnam Accounting Standards VND Viet Nam Dong iv LIST OF TABLES Table 2.
Structure of account 511. Structure of account 515. Structure of account 711. Structure of account 521.
Structure of account 632. Structure of account 641. Structure of account 642. Structure of account 635.
Structure of account 811. Structure of account 821. Structure of account 911. Table for computing business income tax.
Cost of goods sold ratio to Net revenue. Estimated cost of goods sold in 2023. Growth rate in 2022. Expected growth rate in 2023.
80 LIST OF FIGURES Figure 1. Lemon 3 Accounting Software Interface. Business income tax. Cost of services provided.
79 LIST OF DIAGRAMS, FLOWCHARTS Diagram 1. Organizational diagram of the company. Accounting organization diagram. Order of recording accounting books in a diagram.
Process of circulating revenue vouchers for transportation services, stevedore service, warehousing. Rotation process for revenue from stuffing/unstuffing services iron coils, machines. Rotation process for financial activity revenues. Process of circulating other income from fuel consumption fines.
Process of circulating documents of other income from balance handling revenues. Process of circulating cost of goods sold documents. Process of circulating documents of advertising expenses. Process of circulating vouchers of rice wharf commission.
Process of circulating business management expense documents. Process of circulating financial expense documents. Process of transferring evidence of other expenses from the fuel consumption bonus. Process of circulating evidence of other expenses from the processing of missing balances.
Flowchart of document transfer process. 76 vi TABLE OF CONTENTS INSTRUCTOR'S REMARK. i BẢN NHẬN XÉT CỦA CÔNG TY THỰC TẬP. iii LIST OF ABBREVIATIONS.
iv LIST OF TABLES. v LIST OF FIGURES. v LIST OF DIAGRAMS, FLOWCHARTS. v TABLE OF CONTENTS.
1 CHAPTER 1: INTRODUCTION ABOUT TAN CANG LOGISTICS AND STEVEDORING JOINT STOCK COMPANY. Formation and development. Functions and tasks. Vision and mission.
Management apparatus diagram. Functions and tasks of each department. Accounting apparatus diagram. Functions and tasks of departments.
The current accounting policies in the company. 13 SUMMARY OF CHAPTER 1. 15 CHAPTER 2: THEORETICAL UNDERPINNINGS OF REVENUE AND EXPENSES ACCOUNTING AND DETERMINATION OF BUSINESS RESULTS. Concepts and tasks of accounting to determine business results.
Duties of revenue and expenses accounting and determination of business results. Duties of revenue accountant. Tasks of cost accountant. Accounting tasks to determine business results.
Accounting of revenue and other incomes. Accounting for turnovers from selling goods and provisions of service 17 2. Revenue recognition principle. Revenue recognition conditions.
Accounting flowchart of turnovers from sales and provisions of services 19 2. Accounting for revenues from financial activities. Accounting flowchart of revenues from financial activities. Accounting for other income.
Accounting flowchart of other income. Accounting for revenue deductions. Accounting for trade discount. Accounting for sales allowances.
Accounting for sales returns. Accounting flowchart of revenue deductions. Accounting for cost of goods sold. Accounting flowchart of cost of goods sold.
Accounting for selling expenses. Accounting flowchart of selling expenses. Accounting for general administration expenses. Accounting flowchart of general administration expenses.
Accounting for financial expenses. Accounting flowchart of financial expenses. Accounting for other expenses. Accounting flowchart of other expenses.
Accounting for business income tax expenses. Accounting flowchart of business income tax expenses. Accounting for income summary. Accounting method for determining business results.
38 SUMMARY OF CHAPTER 2. 39 CHAPTER 3: THE COMPANY'S CURRENT REVENUE AND EXPENSES ACCOUNTING SITUATION AND BUSINESS RESULTS DETERMINATION 40 ix 3. Accounting for turnovers from selling goods and provisions of service 40 3. Several major transactions.
Accounting for revenues from financial activities. Several major transactions. Accounting for other income. Several major transactions.
Accounting for trade discount. Accounting for cost of goods sold. Several major transactions. Accounting for selling expenses.
Several major transactions. Accounting for general administration expenses. Several major transactions. Accounting for financial expenses.
Several major transactions. Accounting for other expenses. Several major transactions. Accounting for business income tax expenses.
Several major transactions. Income summary accountant. Content to evaluation of Income summary. Several major transactions.
Preparation of income statement. Income Statements in 2022. 68 SUMMARY OF CHAPTER 3. 69 CHAPTER 4: REMARKS AND RECOMMENDATIONS.
Basis for making remarks. Cost of goods sold. Cost of goods sold. 76 SUMMARY OF CHAPTER 4.
Reason of study Currently, the inflation situation in the world continues to be complicated. The International Monetary Fund (IMF) forecasts that global inflation in 2023 will be around 6.6% and in 2024 will be 4. In addition, the World Bank (WB) also pointed out that energy prices will also have many unpredictable fluctuations, namely that the average price of Brent crude oil will fall to about $92 per barrel in 2023, much higher than the five-year average of $60, which leads to unstable supply. In addition, the political instability from the Russia - Ukraine conflict, and the Israel - Hamas conflict is adversely affecting the recovery prospects of the global economy and the Vietnamese economy, which has been heavily affected by the Covid-19 pandemic and can make many countries face a new wave of inflation.
Facing the impact of the global economy, many Vietnamese enterprises are facing difficulties when there is a shortage of orders, up to now, only about 60% of textile and footwear enterprises have orders; 30% of enterprises lack orders producing goods (Mr. Pham Xuan Hong, Chairman of the Ho Chi Minh City Association of Garments, Textiles, Embroidery, and Knitting). Not to mention, declining global trade volumes put heavy pressure on manufacturing capacity, logistics, and supply chains. Business disruptions pose challenges to the supply chain that require businesses to make quick decisions to reduce expenses and operate efficiently.
In that context, good control of revenue, expenses as well as business performance has become an urgent and necessary issue for enterprises. In order to control revenue well, accountants need to build a good process of recognizing revenue generated in the period fully and accurately. As for expenses, accountants need to identify and classify expenses in accordance with accounting principles. Therefore, the accounting department in the enterprise plays a very important role and is considered one of the effective tools to manage activities, economic calculations and inspect and supervise the entire production and business process effectively.
The full and accurate accounting of revenue and expenses and determination of business results is a necessary condition to quickly provide information on the business results of the enterprise. Accurate and useful information 1 about business results will help managers make reasonable business strategies and decisions based on the financial reporting system and management accounting reports. This also requires the accounting work to be meticulous but not cumbersome, it is necessary to monitor all economic transactions arising because these items are directly related to the revenue and expenses of the company. Starting from practical issues related to revenue and expense accounting, the author decided to choose the topic “Accounting For Revenue And Expenses And Determining Business Results At Tan Cang Logistics And Stevedoring Joint Stock Company” as the report topic.
Aims of study General objectives: Learn about the accounting of revenue and expenses and determine the business results of the enterprise according to current regulations. Specific objectives: − The first goal: Determine the company's revenues. − The second goal: Identify the company's expenses. − The third goal: Determine business results.
− The fourth goal: Learn the differences between theory and practice, from which to draw experiences for myself and make recommendations to enhance and improve the efficiency of accounting work. Research methods − Data collection method: Collect and synthesize data, accounting vouchers, accounting books, financial statements from the Finance - Accounting Department in 2022 of the company to illustrate the report. − Synthesis and statistics method: Synthesis and rearrangement of information, vouchers and data collected scientifically and logically. − Analysis and comparison method: Based on accounting books, financial statements in 2022 and other years to analyze the company's performance; then compare with the theoretical basis, from which to make comments and recommendations.
− Methods of observation and interview: Discuss directly with colleagues at the Finance - Accounting Department of Tan Cang Logistics and Stevedoring Joint Stock 2 Company, to learn about activities related to the accounting of revenue and expenses and determine business results. Range of study − Geographical scope: Examine Tan Cang Logistics And Stevedoring Joint Stock Company's accounting of revenues and expenses and determine the business results. − Period of time: Collected information, receipts, accounting records, and financial statements of the company in 2022.