2.2.1. Business characteristics and payment methods at Company 31
2.2.2. Accounting for revenue and other income 32
2.2.2.1. Accounting for sales revenue and service provision 32
2.2.2.1.1. Content and characteristics 32
2.2.2.1.2. Documents, detailed books and accounts used 33
2.2.2.1.3. Accounting process 34
2.2.2.1.4. Illustrative example 35
2.2.2.2. Accounting for financial activity revenue 36
2.2.2.2.1. Contents 36
2.2.2.2.2. Documents, detailed books and accounts used 36
2.2.2.2.3. Accounting process 37
2.2.2.2.4. Illustrative example 37
2.2.2.3. Accounting for other income 37
2.2.2.3.1. Contents 37
2.2.2.3.2. Documents, detailed books and accounts used 37
2.2.2.3.3. Accounting process 38
2.2.2.3.4. Illustrative example 38
2.2.2.4. Accounting for trade discounts 39
2.2.2.4.1. Contents 39
2.2.2.4.2. Documents, detailed books and accounts used 39
2.2.2.4.3. Accounting process 40
2.2.2.4.4. Illustrative example 41
2.2.2.5. Accounting for returned goods 41
2.2.2.5.1. Contents 41
2.2.2.5.2. Documents, detailed books and accounts used 41
2.2.2.5.3. Accounting process 42
2.2.2.5.4. Illustrative example 42
2.2.3. Cost accounting 43
2.2.3.1. Accounting for cost of goods sold 43
2.2.3.1.1. Contents 43
2.2.3.1.2. Documents, detailed books and accounts used 43
2.2.3.1.3. Accounting process 44
2.2.3.1.4. Illustrative example 44
2.2.3.2. Accounting for sales costs 45
2.2.3.2.1. Contents 45
2.2.3.2.2. Documents, detailed books and accounts used 45
2.2.3.2.3. Accounting process 46
2.2.3.2.4. Illustrative example 47
2.2.3.3. Business management cost accounting 47
2.2.3.3.1. Contents 47
2.2.3.3.2. Documents, detailed books and accounts used 47
2.2.3.3.3. Accounting process 49
2.2.3.3.4. Illustrative example 49
2.2.3.4. Accounting for financial operating costs 50
2.2.3.4.1. Contents 50
2.2.3.4.2. Documents, detailed books and accounts used 50
2.2.3.4.3. Accounting process 51
2.2.3.4.4. Illustrative example 51
2.2.3.5. Other cost accounting 52
2.2.3.5.1. Contents 52
2.2.3.5.2. Documents, detailed books and accounts used 52
2.2.3.5.3. Accounting process 53
2.2.3.5.4. Illustrative example 53
2.2.3.6. Accounting for corporate income tax expenses 54
2.2.3.6.1. Contents 54
2.2.3.6.2. Documents, detailed books and accounts used 54
2.2.3.6.3. Sequence of recording 54
2.3. Accounting for Determining Business Results at Family Gas Company 55
2.3.1. Contents 55
2.3.2. User account 55
2.3.3. Books and recording procedures 56
2.3.4. Illustrative example 56
2.4. Presentation of information on Financial Statements 57
2.4.1. Overview of Financial Statements 57
2.4.2. Business Performance Report Preparation 57
2.4.3. Balance Sheet Preparation 59
2.4.4. Cash Flow Statement Preparation 59
CHAPTER 3: COMPLETING ACCOUNTING WORK AT FAMILY GAS 61 LLC
3.1. General comments on business activities at Company 61
3.1.1. Advantages 61
3.1.2. Disadvantages 61
3.2. General comments on accounting work to determine business results at the Company
................................................................ ................................................................ ..............................................63
3.2.1. Advantages 63
3.2.1.1. Organization of Accounting Department at Company 63
3.2.1.2. Accounting form 63
3.2.1.3. Account system 64
3.2.1.4. Document and bookkeeping system 64
3.2.2. Disadvantages 64
3.2.2.1. Bookkeeping system, accounting organization 64
3.2.2.2. Cost accounting 65
3.3. Some recommendations to improve the Accounting work at Gia Dinh Gas Company Limited 65
3.3.1. Completing the accounting system and organizing accounting work 65
3.3.2. Completing cost accounting 65
CONCLUSION 68
LIST OF SYMBOLS AND ABBREVIATIONS
BCĐKT
Balance sheet | |
Financial Statements | Financial report |
Real Estate | Real estate |
Social Insurance | Unemployment insurance |
Social insurance | Social insurance |
Health insurance | Health insurance |
BKS | Board of Control |
CBCNV | Staff |
CPSXC | General manufacturing costs |
DN | Business |
DT | Revenue |
DV-TM | Services - Trade |
D | Copper |
VAT | Value added |
Board of Directors | Board of Directors |
KPCĐ | Union Dues |
Business performance | Business results |
KS | Control |
KXĐ | Unknown |
Labor Union | General labor |
LPG | Liquefied Petroleum Gas |
MTV | A member |
NH | Bank |
State budget | State Budget |
Deputy Director | Vice president |
P.TCKT | Finance and Accounting Department |
SP | Product |
Production and business | Production and business |
CEO | General Director |
TK | Account |
TM | Explanation |
TNCN | Personal income |
Corporate Income Tax | Business income |
Ltd. | Limited liability |
Ho Chi Minh City | Ho Chi Minh City |
TTDB | Special consumption tax |
Fixed assets | Fixed assets |
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Business performance
Determine business results | |
VAT | Value Added Tax |
VND | Vietnamese Dong |
LIST OF USAGE TABLES
Table 2.1. : Name of business lines of Gia Dinh Gas Company Limited Table 3.1. : Summary table of advantages and disadvantages of business operations of Gia Dinh Gas Company Limited
Table 3.2. : Summary table of General comments on accounting work to determine business results at the Company and recommendations
LIST OF CHARTS, GRAPHS, DIAGRAMS, IMAGES
Diagram 1.1. : Accounting diagram for Sales and service revenue Diagram 1.2. : Accounting diagram for Financial activity revenue
Diagram 1.3. : Accounting diagram of Other revenue
Diagram 1.4. : Accounting diagram for Revenue deductions Diagram 1.5. : Accounting diagram for Cost of goods sold
Diagram 1.6. : Accounting diagram for Sales expenses, Business management expenses Diagram 1.7. : Accounting diagram for Financial expenses
Diagram 1.8. : Accounting diagram for other expenses
Diagram 1.9. : Accounting diagram for corporate income tax expense Diagram 1.10. : Accounting diagram for determining business results
Diagram 2.1. : Organizational structure of Gia Dinh Gas Company Limited Diagram 2.2. : Diagram of Finance and Accounting Department
Diagram 2.3. : Computerized accounting form of Family Gas Company Limited
Diagram 2.4. : Accounting process for Sales and service revenue Diagram 2.5. : Accounting process for Financial activity revenue
Diagram 2.6. : Accounting process for other income
Diagram 2.7. : Accounting process for Trade Discounts Diagram 2.8. : Accounting process for Sales Returns
Diagram 2.9. : Accounting process for Cost of goods sold Diagram 2.10. : Accounting process for Cost of sales
Diagram 2.11. : Accounting process for business management costs Diagram 2.12. : Accounting process for financial activities costs Diagram 2.13. : Accounting process for other costs
Chart 2.1. : Sales from 2009 to 2013 of Family Gas Company Limited
PREFACE
1. The necessity of the topic
In the current market economy mechanism, with the operation of many independent and autonomous economic components in enterprises, each enterprise must be proactive and creative in business to preserve capital and, more importantly, to make a profit. To do so, enterprises must be aware of the role of accounting organization in the enterprise, especially the accounting of revenue, expenses and determining business results. Because it shows how the enterprise's products are created, what the costs are, how much revenue is brought in and the business results achieved during the period. That information helps administrators know the business situation of the enterprise and come up with appropriate policies for the development of the enterprise. Therefore, performing well the accounting of income, expenses and determining business plays a very important role.
With today's fierce and fiercely competitive market, in order to survive, businesses always seek to innovate to suit the development of society and human needs to bring the ultimate goal for the Company, which is "Business performance and profit maximization". Indeed, in general, businesses are not only affected by the law of value but also by the law of supply and demand and the law of competition. When the Company's products are sold, they will bring in a source of income (revenue) for the business. To get the products, businesses must spend money to make those products. If the revenue achieved covers the Company's costs, the remaining part is called profit. And every business wants to maximize profits. To do that, the revenue must be high and costs must be controlled in the best way.
For the above reasons, we see that the accounting system plays a very important role in determining and controlling the company's profits. Through the time of studying and researching the business situation as well as the accounting work at Gia Dinh Gas Company Limited, I decided to choose the topic "Accounting for Income, Expenses and Determining Business Results at Gia Dinh Gas Company Limited" as the topic for my graduation thesis.