MINISTRY OF FINANCE ACADEMY OF FINANCE ---------- GRADUATION THESIS ACCOUNTING FOR SALES AND BUSINESS RESULTS IN VIET DUNG YEN MY LIMITED COMPANY Major : Corporate Accounting Mentor : PhD. Thai Ba Cong MSc. Nguyen Ba Linh HA NOI - 2022 Academy of Finance Graduation Thesis DECLARATION I hereby declare this is my own research. Data, results stated in the graduation thesis are honestly come from the actual condition of company.
Ha Noi, January 20th, 2022. Student i Academy of Finance Graduation Thesis TABLE OF CONTENTS DECLARATION. i TABLE OF CONTENTS.ii LIST OF ABBREVIATIONS.v LIST OF TABLES.vi LIST OF SCREENS.vii LIST OF DIAGRAMS.1 CHAPTER 1: GENERAL THEORY ON ACCOUNTING FOR SALES AND DETERMINATION OF BUSINESS RESULT IN COMMERCIAL ENTERPRISES.1 Importance of accounting for sales and business results in commercial enterprises .1 Overview of sales and business results.2 The role of sales and determining business results.3 Task of accounting for sales and business results.2 Accounting for sales and determination of business results.1 Methods of sales and payment.2 Accounting for revenue.3 Accounting for revenue deduction.4 Accounting for cost of goods sold. Accounting for selling expenses and administration expenses.6 Accounting for financial income and financial expenses.7 Accounting for other income and other expenses.8 Accounting for current Corporate Income Tax.9 Accounting for determination of business results.3 Accounting for sales and business results in application with accounting software .29 ii Academy of Finance Graduation Thesis 1.1 Principles and requirements for the organization of machine accounting .2 Tasks of accounting for sales and business results in machine accounting terms.3 Accounting for sales and business results in machine accounting terms .4 Presentation on financial statement.32 CONCLUSION OF CHAPTER 1.35 CHAPTER 2: THE ACTUAL SITUATION OF ACCOUNTING FOR SALES AND DETERMATION OF BUSINESS RESULTS AT VIET DUNG YEN MY LIMITED COMPANY.1 Overview about Viet Dung Yen My Limited Company.1 Establishment and development of the VIET DUNG YEN MY company .2 Business organizational characteristics of the company.3 Management organizational characteristics of the company.4 The organization of accounting works in the company.2 A ccounting for sales and determination of business results in Viet Dung Yen My company.1 Accounting for sale revenue and revenue deductions.2 Accounting for cost of goods sold.3 Accounting for selling expenses.4 Accounting for administration expenses.5 Accounting for financial income and financial expenses.6 Accounting for other income and other expenses.7 Accounting for corporate income tax expense.8 Accounting for business results.3 Some comments on accounting activities in Viet Dung Yen My iii Academy of Finance Graduation Thesis Limited Company.79 CONCLUSION OF CHAPTER 2.81 CHAPTER 3: SOME SOLUTIONS TO IMPROVE ACCOUNTING AND DETERMINATION OF ACCOUNTING FOR SALES AND BUSINESS RESULTS IN VIET DUNG YEN MY LIMITED COMPANY.1 Development orientation of the company.2 Requirements and principles of improving accounting for sales and determining business results at Viet Dung Yen My Limited Company.2 Some suggestions for improvement of accounting for sales and business results.3 The content of improved suggestions about accounting for sales and business results.
87 CONCLUSION FOR CHAPTER 3. 100 iv Academy of Finance Graduation Thesis LIST OF ABBREVIATIONS Abbreviation Full phrase Acc Account CIT Corporate income tax COGS Cost of goods sold Co., Ltd Limited Company FE Foreign exchange FIFO First-in, first out GDNs Goods despatch note GRNs Goods receipt note LIFO Last-in, first-out No. Number VAT Value added tax VND Vietnam Dong v Academy of Finance Graduation Thesis LIST OF TABLES TABLE 2.1: EXTRACT LEDGER OF ACCOUNT 511 FOR CASH SALE. EXTRACT OF ACCOUNT 511 FOR CREDIT SALE.3 EXTRACT OF LEDGER ACCOUNT 632.4 EXTRACT OF LEDGER ACCOUNT 641.5 EXTRACT OF LEDGER ACCOUNT 642.6 EXTRACT OF LEDGER ACCOUNT 515.7 EXTRACT OF LEDGER ACCOUNT 635 .8 EXTRACT OF LEDGER ACCOUNT 911.74 vi Academy of Finance Graduation Thesis LIST OF SCREENS SCREEN 2.1 WORKING SCREEN OF ACCOUNTING SOFTWARE.2 ACCOUNT SYSTEM SCREEN.3 CUSTOMER LIST SCREEN.4 THE INTERFACE OF ENTERING SALES DOCUMENT.5 THE INTERFACE OF ENTERING CREDIT SALES DOCUMENT .6 THE INTERFACE OF ENTERING SELLING EXPENSE.7 THE INTERFACE OF ENTERING ADMINISTRATION EXPENSE .8 THE INTERFACE OF ENTERING FINANCIAL INCOME.9 THE INTERFACE OF ENTERING FINANCIAL EXPENSES.10 THE INTERFACE OF CARRYING FORWARD PROFIT OR LOSS.75 LIST OF DIAGRAMS DIAGRAM 2.1: COMPANY MANAGEMENT APPARATUS STRUCTURE.2 STRUCTURE OF THE COMPANY'S ACCOUNTING.41 vii Academy of Finance Graduation Thesis INTRODUCTION 1.
The urgency of the research topic In commercial business activities, selling is the basic profession, which plays an important role in other operations, business activities can only run smoothly w hen the sales are efficiently organized. Currently, the sale of goods and services by entities has faced a range of difficulties and challenges. First, the competition between domestic and foreign commercial enterprises is increasingly fierce. Second, the economic management mechanism still has many shortcomings, causing many difficulties and obstacles for businesses.
Therefore, to be able to stand firmly in the marketplace, enterprises must organize well the sales process, have a suitable sales strategy so that they can actively adapt to the environment, seize opportunities, and effectively mobilize existing resources to improve business efficiency. Sales and business result determination play a very important role because it provides managers with information about the performance and business situation of each commodity to make accurate, timely and effective business decisions. On the basis of applying the theory of sales accounting and determining business results learned at school and based on the actual situation of the company, along with the enthusiastic help of Teacher, PhD. Thai Ba Cong and MSc.
Nguyen Ba Linh and other members of the Accounting Department of the company, I have a certain understanding of the company and accounting work at the company. Being aware of the importance of managing sales accounting and determining business results at the company, after the internship at the company, I decided to choose the research topic to write my final thesis “Accounting for sales and business results at Viet Dung Yen 1 Academy of Finance Graduation Thesis My Limited Company”. Purposes of the dissertation Research purposes: To deeply understand the sales accounting organization and determine the business results, to give an overview of the achievements and shortcomings in sales accounting and business results determination, from which giving suggestions to improve accounting for sales and business results at Viet Dung Yen My Limited Company. Research object and scope of the dissertation Research object: Accounting for sales and determination of business results at Viet Dung Yen My Limited Company.
Scope: Accounting for sales and determination of business results at Viet Dung Yen My Limited Company in December 2020 4. Research methodology Research is based on the methodology of dialectical materialistic and historical materialism, combined with the methods of analysis, statistics, synthesis, comparison between theoretical basis and reality at Viet Dung Yen My Co. from there, propose solutions to improve accounting for sales and business results at the company. The structure of the dissertation Recognizing the importance of organizing goods consumption, I chose the topic: "Accounting for sales and business results at Viet Dung Yen My Limited Company".
In addition to the introduction and conclusion, the dissertation consists of 3 chapters: - Chapter 1: General theory on accounting for sales and determination of business results in commercial enterprises - Chapter 2: The actual situation of accounting for sales and determination of business results at Viet Dung Yen My Limited Company 2 Academy of Finance Graduation Thesis - Chapter 3: Some solutions to improve accounting for sales and determination of business results at Viet Dung Yen My Limited Company. As a student approaching the reality of accounting for the first time, the topic has a synthesis and limited time, so the shortcomings cannot be avoided. I would like to receive the help and evaluation, and suggestions of the management board, the accounting department staff of Viet Dung Yen My Limited Company and the teachers of the subject at the Academy of Finance, especially teacher Thai Ba Cong and Nguyen Ba Linh so that I can complete my essay. Thank you sincerely! Hanoi, January 20th, 2022.
Student Do Lam Phuong 3 Academy of Finance Graduation Thesis CHAPTER 1: GENERAL THEORY ON ACCOUNTING FOR SALES AND DETERMINATION OF BUSINESS RESULT IN COMMERCIAL ENTERPRISES 1.1 Importance of accounting for sales and business results in commercial enterprises 1.1 Overview of sales and business results Concept and characteristics of the sales process Definition of sales Sales is the process of transferring the ownership of goods associated with benefits or risks to customers and being paid or accepted by the customer. Selling is the final stage of the business process in commercial enterprises, this is the process of transforming capital from a commodity form to a monetary capital form or capital in payment. Characteristics of the sales process - There is an exchange agreement between the buyer and the seller. The seller agrees to sell, the buyer agrees to buy, pays and accepts to pay.
- There is a change in ownership of goods: the owner loses ownership and the buyer has ownership of the purchased goods. In the process of selling goods, economic units provide the customer with a certain quantity of goods and receive back from the customer a sum of money called the sales of goods. Definition of business results Determination of business results is the comparison between the costs spent and the revenue earned in the period from selling activities. If the revenue is greater than the cost of selling, the result is profit and vice versa, if the revenue is less than the cost, the result is a loss.
Determining business 4 Academy of Finance Graduation Thesis results conducted at the end of a business period is usually the end of the month, the end of a quarter or the end of the year, depending on each business characteristics and management requirements of each business. Relationship between sales and business results Selling is the last stage in the business process of an enterprise, business results is an important basis for the unit to decide whether to consume goods or not. Therefore, there is a close relationship between selling and business results. Business results are the ultimate aim of the business, and sales are the means to achieve that goal.
Management requirements for sales and business results Sales operations relate to each customer, each payment method, and each item, and each type of service. Therefore, the management of sales operations, service provision requires management of indicators such as revenue management, revenue deduction management, change of responsibility at the sale stage, consumption and collection of money, debt situation and debt payment on the buyer's accounts receivable, cost price management of sold goods,. Managing sales operations, determining business results should adhere to the following requirements: - Manage the movement of each item in the process Receipt – Issue – In stock on quantity, quality and value indicators. - Capture and closely monitor each method of sale, each payment method, each customer and each type of product consumed.
- Urge payment, fully recover the sales of goods - Calculate and correctly determine the results of each type of activity and strictly implement the profit distribution mechanism. - Fulfill all obligations towards the State according to the prescribed 5 Academy of Finance Graduation Thesis regime.2 The role of sales and determining business results Sales and business results are of paramount importance to a commercial enterprise. Accurate determination of business results is the basis for determining the performance of an enterprise. The organization of accounting for sales and business result are an important tool in the effective management and administration of an enterprise's operations in the business process.
Accounting information for sales and business results is provided to help business managers understand the implementation of the sales plan in terms of type, quantity, quality, price, and payment; check the implementation of cost of goods sold estimates, selling expenses, administration expenses and determine business results of the unit. On that basis, it will propose measures to guide business operations in the next period, improve business operations, manage operations, save costs and increase revenue.