[Luận văn bằng tiếng anh - GRADUATION THESIS] ACCOUNTING FOR SALES AND BUSINESS RESULTS IN VIET DUNG

MINISTRY OF FINANCE

ACADEMY OF FINANCE

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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

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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....................................................................................vii

INTRODUCTION.............................................................................................1

CHAPTER 1: GENERAL THEORY ON ACCOUNTING FOR SALES AND

DETERMINATION OF BUSINESS RESULT IN COMMERCIAL

ENTERPRISES.................................................................................................4

1.1 Importance of accounting for sales and business results in commercial

enterprises ....................................................................................................4

1.1.1 Overview of sales and business results...................................................4

1.1.2 The role of sales and determining business results.................................6

1.1.3 Task of accounting for sales and business results...................................6

1.2 Accounting for sales and determination of business results...................7

1.2.1 Methods of sales and payment................................................................7

1.2.2 Accounting for revenue...........................................................................8

1.2.3 Accounting for revenue deduction........................................................13

1.2.4 Accounting for cost of goods sold........................................................14

1.2.5 . Accounting for selling expenses and administration expenses...........18

1.2.6 Accounting for financial income and financial expenses.....................21

1.2.7 Accounting for other income and other expenses.................................23

1.2.8 Accounting for current Corporate Income Tax.....................................26

1.2.9 Accounting for determination of business results.................................27

Academy of Finance Graduation Thesis

1.3 Accounting for sales and business results in application with

accounting software.............................................................................................

29

1.3.1 Principles and requirements for the organization of machine

accounting ..................................................................................................29

1.3.2 Tasks of accounting for sales and business results in machine

accounting terms.............................................................................................30

1.3.3 Accounting for sales and business results in machine accounting

terms ..................................................................................................30

1.4 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...................................................................36

2.1 Overview about Viet Dung Yen My Limited Company...................36

2.1.1 Establishment and development of the VIET DUNG YEN MY

company ..................................................................................................36

2.1.2 Business organizational characteristics of the company...................39

2.1.3 Management organizational characteristics of the company............39

2.1.4 The organization of accounting works in the company....................41

2.2 Accounting for sales and determination of business results in Viet

Dung Yen My company..................................................................................48

2.2.1 Accounting for sale revenue and revenue deductions.......................48

2.2.2 Accounting for cost of goods sold....................................................57

2.2.3 Accounting for selling expenses.......................................................60

2.2.4 Accounting for administration expenses...........................................65

2.2.5 Accounting for financial income and financial expenses.................67

2.2.6 Accounting for other income and other expenses.............................71

Academy of Finance Graduation Thesis

2.2.7 Accounting for corporate income tax expense..................................72

2.2.8 Accounting for business results........................................................73

2.3 Some comments on accounting activities in Viet Dung Yen My

Limited Company............................................................................................76

2.3.1 Advantages:.......................................................................................77

2.3.2 Some limitation.................................................................................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.....................83

3.1 Development orientation of the company.........................................83

3.2 Requirements and principles of improving accounting for sales and

determining business results at Viet Dung Yen My Limited Company.........84

3.2.1 Improvement requirements:..............................................................84

3.2.2 Some suggestions for improvement of accounting for sales and

business results................................................................................................86

3.2.3 The content of improved suggestions about accounting for sales and

business results................................................................................................87

CONCLUSION FOR CHAPTER 3................................................................97

CONCLUSION...............................................................................................98

REFERENCE................................................................................................100

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

Academy of Finance Graduation Thesis

LIST OF TABLES

TABLE 2.1: EXTRACT LEDGER OF ACCOUNT 511 FOR CASH SALE.........52

TABLE 2.2. EXTRACT OF ACCOUNT 511 FOR CREDIT SALE......................54

TABLE 2.3 EXTRACT OF LEDGER ACCOUNT 632.........................................59

TABLE 2.4 EXTRACT OF LEDGER ACCOUNT 641.........................................62

TABLE 2.5 EXTRACT OF LEDGER ACCOUNT 642.........................................66

TABLE 2.6 EXTRACT OF LEDGER ACCOUNT 515.........................................68

TABLE 2.7 EXTRACT OF LEDGER ACCOUNT 635 ..............70

TABLE 2.8 EXTRACT OF LEDGER ACCOUNT 911.........................................74

Academy of Finance Graduation Thesis

LIST OF SCREENS

SCREEN 2.1 WORKING SCREEN OF ACCOUNTING SOFTWARE................44

SCREEN 2.2 ACCOUNT SYSTEM SCREEN.......................................................44

SCREEN 2.3 CUSTOMER LIST SCREEN............................................................45

SCREEN 2.4 THE INTERFACE OF ENTERING SALES DOCUMENT.............51

SCREEN 2.5 THE INTERFACE OF ENTERING CREDIT SALES DOCUMENT

.................................................................................................................................55

SCREEN 2.6 THE INTERFACE OF ENTERING SELLING EXPENSE..............65

SCREEN 2.7 THE INTERFACE OF ENTERING ADMINISTRATION EXPENSE

.................................................................................................................................67

SCREEN 2.8 THE INTERFACE OF ENTERING FINANCIAL INCOME...........69

SCREEN 2.9 THE INTERFACE OF ENTERING FINANCIAL EXPENSES.......71

SCREEN 2.10 THE INTERFACE OF CARRYING FORWARD PROFIT OR

LOSS.......................................................................................................................75

LIST OF DIAGRAMS

DIAGRAM 2.1: COMPANY MANAGEMENT APPARATUS STRUCTURE.....40

DIAGRAM 2.2 STRUCTURE OF THE COMPANY'S ACCOUNTING..............41

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

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Academy of Finance Graduation Thesis

the company, I decided to choose the research topic to write my

final thesis “Accounting for sales and business results at Viet Dung

Yen My Limited Company”.

2. 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.

3. 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., Ltd. from there, propose

solutions to improve accounting for sales and business results at the

company.

5. 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:

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Academy of Finance Graduation Thesis

- 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

- 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

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