UNIVERSITY OF ECONOMICS AND LAW FACULTY OF ACCOUNTING - AUDITING ___________________ University Graduation Thesis SALARY ACCOUNTING AND SALARY ACTUATORS AT HOP PHAT BAGS MANUFACTURING TRADING GARMENT COMPANY LIMITED LECTURER: Assoc. PhD PHAN DUC DUNG STUDENT’S NAME: NGUYEN HUU PHUOC STUDENT’S CODE: K184050689 CLASS: K18405CA HO CHI MINH CITY, March 15th/ 2022 1 ACKNOWLEDEMENT First, with the deepest and most sincere feelings, allows me to express my gratitude to all the individuals and organizations that have facilitated and supported me throughout the study and research process this resource. During the time since I started studying at the school up to now, I have received a lot of attention and help from teachers and friends. With the deepest gratitude, I sincerely thank the advisor Assoc.
PhD PHAN DUC DUNG. Thanks to the guidance and guidance of the teachers, my research topic can be completed successfully. My first step into practice is still limited and confusing, so I can't avoid the shortcomings, I look forward to receiving valuable comments from teachers to help my knowledge in this field. to be more perfect at the same time with additional conditions, to raise their awareness.
In completing the thesis, the report inevitably has errors with limited experience and methods approach. I hope you can ignore it and suggestions to make my theory better. I wish your company more and more prosperity and development, hope you all the best healthier and more successful in his career of growing people. Thank you sincerely! 2 TASK THEMES 1.
Content and requirements to be solved in the graduation thesis task (In terms of theory, practice, data to be calculated, and drawings). Learn the theory of accounting for salaries and deductions by salary in enterprises. Learn the actual work of accounting, salary, and deductions salary at Hop Phat Bags, Backpacks, and Garment Manufacturing Trading Company Limited. Assess the essential advantages and disadvantages in the organization of accounting work as well as accounting for salaries and deductions salary in particular as a basis for proposing measures to help the unit practice to do better accounting work.
Necessary data for design and calculation. Using 2020 data for payroll accounting and salary deductions at Hop Phat Bags, Backpacks, and Garment Manufacturing Trading Co. Graduation internship location. Hop Phat Bags, Backpacks, and Bags Manufacturing Trading Co.
6 CHAPTER 1: BASIC THEORY OF SALARY ACCOUNTING ORGANIZATION. Wages and the Nature of Wages.2 The role and function of wages.1 The role of salary.3 Types of salary payment in enterprises.1 Pay by product. Salary based on revenue. Principles of accounting for labor and wages.
Salary fund, social insurance fund, health insurance fund, joint control fund, unemployment insurance fund. Health Insurance Fund. Trade Union Fund.6 Deduction in advance of vacation wages according to the plan of direct production workers. Organize the accounting of salary and salary deductions.
Detailed salary accounting.3 Organization of accounting for social insurance, health insurance, occupational accident and unemployment insurance. System of books used in accounting for salaries and deductions by salary. Diary-ledger form. Form of record-keeping voucher.
Machine accounting form. General diary form.29 4 CHAPTER 2: INTRODUCTION ABOUT HOP PHAT BAGS MANUFACTURING TRADING GARMENT COMPANY LIMITED. The process of formation and development. Industry and business field.
Organizational structure at the Company. Organizational chart of the company apparatus. Organizational chart of the Company's accounting apparatus. Organization of accounting at the Company.
Accounting information system. Form of accounting books. Account system applied at the Company. Inventory accounting method.
VAT calculation method. Depreciation method of fixed assets.39 CHAPTER 3: THE SITUATION OF SALARY ACCOUNTING AND SALARY ACCURACIES AT HOP PHAT PACKAGING MANUFACTURING, TRADING AND SERVICE COMPANY LIMITED. Overview of salary at the company.40 Salary payment time and payment method.40 Calculating salary at the company. Usage vouchers and the process of document circulation.42 The process of transferring documents.
Accounting method for several significant transactions. Accounting books and reports.2: Flowchart of the payroll accounting bookkeeping process. Accounting of salary deductions. Overview of salary deductions at the company.47 Calculating salary deductions.
Documents used and the process of document circulation. Accounting methods for some significant transactions. Accounting books and reports. Flowchart of the process of recording salary deductions in accounting books.
Accounting Personal income tax. Overview of Personal Income Tax at the company. Vouchers for use and circulation of vouchers. Accounting method for a number of major transactions.
Accounting books and reports.63 CHAPTER 4: COMMENTS AND RECOMMENDATIONS. Comment on the organizational structure of the company's apparatus. Comments on the accounting of salary and salary deductions at the Company. Solution and condition.
Reason for choosing the topic For enterprises, salary is a large proportion of production and business costs. If enterprises apply a reasonable salary system, it will motivate them to increase labor productivity. For employees, salary has essential meaning because it is a source of income to ensure life for individuals and their families. Wages are a driving force to increase labor productivity if paid commensurate with the labor they have contributed but can also reduce labor productivity, making the production process slow unsatisfactory.
Efficient if the wages they receive are lower than the labor they put in. Closely attached to salary are salary deductions, including social insurance, health insurance, unemployment insurance, and the labor union. This is a social fund that shows the concern of the whole society to each member. The State has promulgated the regimes on salary and salary deductions.
They are flexibly applied in each Enterprise depending on the management organization, production, business, and the nature of the work of the enterprises. With that awareness, combined with fact-finding at Hop Phat Bags & Bags Manufacturing, Trading Co., I decided to choose the topic "Salary accounting and salary deductions at Garment Manufacturing Trading Co. Hop Phat Backpacks and Handbags" as my final topic. I hope that through my research, the company can change and develop more and at the same time, the employees can also better understand the salary as well as salary deductions so as not to be disadvantaged when putting in effort, their labor to receive the right salary.
Research objective 7 - General objective: Research on the current situation of salary accounting and salary deductions in “Hop Phat Bags, Backpacks Garment Manufacturing Trading Co. From there, to deeply understand the theory and have a practical view of salary accounting and salary deductions. - Detail objective: + Learn the theoretical basis of salary and salary deductions. + Understand the production process and business activities of the Company.
+ Accounts for use and rotation of vouchers and methods of accounting for operations in salary accounting. + Learn how bookkeeping is used. + Inadequacies in the current accounting work. + Make general comments and propose some measures to improve the accounting and accounting of salary and salary deductions at the enterprise.
Research scope About space: Hop Phat Bags, Backpacks and Bags Manufacturing Trading Co. Analytical data: May 2021 4. Research Methodology - Collecting documents and operations arising in reality at Hop Phat Bags, Backpacks, and Garment Manufacturing Trading Co. - Using research methods such as comparative method, alternative method.
to present data richly and vividly. - Consult with brothers and sisters in the Company's accounting department. - Refer to books and some other documents related to the research topic. Theme structure 8 In addition to the introduction, conclusion, and appendix, the main content of the graduation report consists of 4 chapters: Chapter 1: Basic theory on salary accounting organization Chapter 2: Introduction about hop phat bags manufacturing trading garment company limited Chapter 3: The situation of salary accounting and salary accuracies at hop phat backaging manufacturing, trading and service company limited Chapter 4: Comments and recommendations 9 CHAPTER 1: BASIC THEORY OF SALARY ACCOUNTING ORGANIZATION 1.
Wages and the Nature of Wages.1 Salary concept - Wages are the monetary manifestation of the essential living labor expenses that businesses must pay employees based on the amount of time, volume, and quality of work they put in. Wages are money given in exchange for work power, the price of labor power that the employer and employee agree on based on the supply and demand principle, market pricing, and state legislation. Employees' principal source of revenue is their wages. They are also eligible to social insurance benefits such as emulation bonuses and labor productivity bonuses during periods of leave, sickness, maternity, occupational accidents, retirement, and death, as well as emulation bonuses and labor productivity bonuses.
From the above concept, we can see that salary and salary deductions have the following characteristics: - Wages are paid in cash. - Wages are paid upon completion of work based on output and quality of labor, of which: + The number of employees is calculated by working days, the number of finished products. + Labor quality is expressed through high or low labor productivity, good or bad products. 10 Wages are an economical category associated with labor, money, and commodity production.
In terms of the production of goods and capital, wages are an element of production and business costs that constitute the cost of products, services, and services.2 The role and function of wages 1.1 The role of salary Wages are a worker's principal source of income, a role in social reproduction, and a specific component of social production. As a result, salaries play a critical role in the family economy's growth and stability. First and first, the income must cover the worker's basic necessities, such as food, lodging, living expenses, and transport, i., the compensation must cover the worker's minimal life. Wages can only then play an important role in encouraging labor and increasing employees' responsibilities in social production and reproduction.
Simultaneously, a remuneration structure appropriate for squandered delivery will instill hope and trust in the company and the authorities in which they work. Wages, as an economic lever for maximizing internal resources to fulfill employment, play a function in human existence. Employees will be able to do anything if they are paid appropriately for their skills. Salary has therefore aided managers in efficiently and comfortably distributing tasks.
The use of compensation tools and the goal of providing material for workers has a lot of weight in the monitoring, checking, and supervising of employees in businesses. Salary is a metric for determining how productive a person is in their job. The wage is a component of the company's production, marketing, and administrative expenditures. As a result, it influences the enterprise's business success and is a factor in product costs.
With the above-mentioned important functions of wages in production and living, choosing a method of payment that suits the production circumstances and business 11 features of each industry and organization will have a big influence. Employees are actively encouraged to care about labor performance and production efficiency. A appropriate compensation regime that assures the advantages of employees, companies, and society is always a heated topic in all enterprises.2 Function of salary * Function to stimulate workers Wages help to secure and contribute to a fair labor structure in the economy, which promotes industry and territorial development. Employees will develop a desire for active work, encourage the spirit of creative labor, self-study to enhance their professional abilities, and attach personal responsibility to communal interests if they are well compensated.
as well as work Wages are economic levers, material incentives, and economic development driving forces. As a result, salaries must be determined by the employees' performance in order to motivate them to work efficiently and successfully. * Labor supervision function Employers can audit and supervise workers' work in accordance with their organizational strategy by paying their wages, ensuring that their salaries are constant and effective. The state regulates labor through a pay system that ensures that employees get minimal benefits upon completion of their duties.
Especially in the case of a for-profit corporation attempting to cut expenses, including the cost of salaries provided to employees, this must be addressed swiftly. Other roles include remuneration, labor value measurement, and labor control, in addition to the two tasks stated above.