LIST OF TABLES AND CHARTS
Diagram 2.1: Organizational chart of the management apparatus of Company 50
Diagram 2.2. Organization of accounting department at Company 52
Diagram 2.3: Sequence of recording in general journal form 55
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Table 3.1: Sales revenue report 90
Table 3.2: Report on the consumption of goods 91
INTRODUCTION
1. Urgency of the research topic
1.1. Theoretical
The birth and development of accounting is closely linked to the development of the socio-economic. The more developed the society is, the more important accounting becomes and becomes an indispensable tool in the management of the state and business economy. In the current context, in order to survive, businesses need to have appropriate business strategies and business management. Accounting plays a major role in the management and operation of businesses.
On the other hand, the business results of an enterprise are the final results to accurately assess the business performance of the enterprise in each period. Therefore, accounting for revenue, expenses and business results is an important part of business accounting. Currently, in enterprises, accounting for revenue, expenses and business results are all applied in accordance with current accounting standards and regimes. However, depending on the scale, type of business as well as the organization of business accounting, accounting for revenue, expenses and business results at each unit is accounted for in the most appropriate way. This has created favorable conditions for accounting for business results at enterprises to be carried out scientifically and reasonably, thereby providing information on the situation of revenue, expenses and business results of the enterprise quickly and accurately. Accounting for business results gives us a comprehensive and detailed view of the business activities of the enterprise, effectively serving administrators in the process of managing and developing the enterprise. Determining the correct and detailed business results will help business administrators see the advantages and disadvantages, the existing problems, thereby providing solutions to overcome, proposing strategic business plans, more correct and appropriate for the next periods.
1.2. In practice
In fact, through the investigation and survey of officers and employees at Long Bien Industrial Gas Joint Stock Company, the accounting of revenue, expenses and
Business results still have many shortcomings such as: The company does not have accounting reports on revenue, has not used trade discounts in sales. If these shortcomings are not resolved, they will affect the accounting work as well as the business results of the company.
Based on the above shortcomings, I realized the importance of accounting for revenue, costs and results at enterprises in general and Long Bien Industrial Gas Joint Stock Company in particular, so I decided to choose the topic "Accounting for revenue, costs and business results at Long Bien Industrial Gas Joint Stock Company" as the topic of my master's thesis.
2. Overview of research related to the topic
The research topic of revenue, costs and business results has been studied by many authors. It can be said that this is a very important issue in any business and its topicality is always an issue that many authors want to pursue. Previous studies have shown successes and advantages in both theory and practice, but there are still some limitations.
* Thesis: "Improving the accounting of revenue and expenses of Hiep Bach Nien Pharmaceutical Company Limited" in 2016 by author Nguyen Thi Mai, National Economics University. The author's article has a complete structure of the thesis, the layout of the article is divided into 3 parts, presented in great detail and easy to understand. In Chapter 1, the author presented general theories on accounting for revenue and expenses and determining business results. In Chapter 2, the author analyzed the strengths of the Company, which is having a variety of products, so it is necessary to manage goods well, helping managers have a more general view of new strategies for the products that the Company trades. At the same time, the author accurately mentioned the current status of revenue and expenses of the Company through tables. In Chapter 3, the author proposes that in order to manage revenue and expenses well, the accounting system should be organized in a centralized model, very compact but still operating effectively, meeting a relatively large workload.
* Thesis: "Revenue and cost accounting and determining business results at Tan Phuoc Long Company Limited by author Tran Thi Thanh Thuy, Academy of
Bank in 2016. The thesis has systematized the basic issues of revenue, expenses and determining business results. Thereby, drawing out the successes and limitations of accounting work at this unit.
* Thesis: "Revenue and cost accounting and determining business results at Data Bank Company Limited" by Nguyen Le Phuong Thao, University of Industrial Technology in 2016. The thesis has deeply studied the current situation of revenue, cost accounting and business results of Data Bank Company Limited. In the revenue accounting section, the author focused on surveying the current situation of revenue content at the Company, accounting documents and the Company's bookkeeping process. In the cost section, the author surveyed each content of cost of goods sold accounting, sales cost accounting, business management costs and financial operating costs. Although the author pointed out the advantages and disadvantages of the Company, the proposed solutions have not been specified.
* Thesis "Accounting for revenue, expenses and determining business results at Hanoi Housing and Urban Development Business Joint Stock Company" by Nguyen Hong Giang, National Economics University in 2017. This thesis has outlined theoretical issues on the organization of accounting for revenue, expenses and determining business results in housing and urban businesses in Vietnam. However, the thesis only presents the limitations in the unit where the author took data, which is a business joint stock company, but has not mentioned management accounting, only focusing on financial accounting.
* 2018 thesis "Improving accounting for costs, revenue, and business results in steel manufacturing enterprises under Vietnam Steel Corporation" author Do Thi Hong Hanh - National Economics University. The thesis focuses on clarifying the theoretical basis of accounting for costs, revenue, and business results in manufacturing enterprises. Specifically: (1) Clarifying the role, nature, and requirements of accounting for costs, revenue, and business results in manufacturing enterprises (2) Clearly defining the content of financial accounting for costs, revenue, and business results in manufacturing enterprises (3) Clearly defining the content of management accounting for costs, revenue, and business results in manufacturing enterprises.
* 2018 thesis "Revenue, cost and business results accounting at Vina Kyung Seung trading company" author Lai Van Duc - University of Commerce.
Content: In addition to pointing out some basic theories on accounting for revenue, expenses and business results, the author also points out some limitations in accounting that businesses need to overcome such as: The company's cost of goods sold has not been accurately determined, many expenses incurred are not reflected in production and business costs but are hung on the "Prepaid expenses" account, and foreign currency items have not been re-evaluated at the end of the year... Some solutions proposed by the author include: Using a reasonable exchange rate in recording customer receivables and revenue, accurately determining the cost of goods sold, allocating and recording expenses incurred in the production and business cost account, re-evaluating foreign currency items at the end of the fiscal year... In this topic, the author has researched in detail the current situation of accounting for revenue, expenses and business results at the company and has proposed specific and appropriate solutions to improve the accounting for revenue, expenses and business results. business results at the company.
* 2018 thesis "Revenue, cost and business results accounting at PETROLIMEX Asphalt Corporation" author Truong Thi Hong Xam.
Content: In the thesis, the author has raised some theoretical issues on revenue and expenses and determining business results in both production and trading enterprises. The author has also analyzed, compared, and carefully evaluated the current status of accounting activities at Petrolimex Asphalt Corporation and on that basis, pointed out the limitations that still exist in the company such as activities of receiving and processing orders, tracking receivables. Thereby, the author has made some reasonable suggestions such as opening a detailed book to track debts, detailed books of cash receipts and payments, building a separate accounting information system to optimize each activity and minimize possible risks.
* Thesis "Revenue, cost and business results accounting at ANT Company Limited" by author Cao Thi Thu Phuong, University of Commerce (2018).
Content: This thesis has systematized the theories on Revenue and Cost Accounting and Business Determination in Enterprises. On that basis, the topic presents the achievements and limitations, requirements for perfecting the organization of revenue and cost accounting, determining business results at the Company, thereby providing specific solutions for each content of revenue and cost accounting, determining business results of the Company.
* Thesis by author Nguyen Huu Dong (2018) "Improving accounting for costs, revenue and business results in Vietnamese tourism enterprises".
Content: This thesis has generalized theoretical issues on the organization of revenue and cost accounting and determining business results in tourism enterprises; studied the actual situation of revenue and cost accounting and determining business results in some Vietnamese tourism enterprises.
* Thesis "Improving the accounting of revenue, costs, and results of hotel services at hotel service companies in Hanoi" by author Hoang Bao Trung, University of Commerce, 2018. The article has a clear and easy-to-understand structure, clearly stating the characteristics of the hotel service business, accounting principles and accounting methods at two large, typical hotels with many supporting hotel service activities in Hanoi: Deawoo Hotel and Bao Son Hotel. The topic uses dialectical materialism and specific methods such as: Statistics, analysis, comparison and practical survey but has not been combined with the investigation method to collect primary data (using questionnaires or interviews, ...) so the collected results are only qualitative, there is no in-depth survey, reducing the reliability of the analysis and evaluation, so the solutions proposed by the author are not highly generalizable.
* Master's thesis "Revenue and cost accounting at construction consulting and design companies in Binh Dinh province" by author Nguyen Thi Ngoc Mai in 2019 has systematized theoretical contents related to revenue and costs. At the same time, the thesis only researched and evaluated revenue and cost accounting from the perspective of financial accounting but has not yet evaluated detailed accounting.
Revenue and expenses serve the needs of management. In addition, the thesis has not yet pointed out the difference between Vietnamese accounting and international accounting in terms of revenue and expense accounting.
Disadvantages: The author still depends a lot on the presentation of documents and accounting operations on accounting software, so the article still encounters some problems such as the organization of storing accounting documents, which the author does not mention. The arrangement of documents of accounts arising in the month is still messy, not in the order of recording, showing the lack of professionalism and accuracy in the essay on revenue - cost accounting and determining the business results of the Company.
Through the above theses, we have partly seen the existing problems and difficulties related to accounting for revenue, costs and business results, and the author has also given opinions and solutions to those problems. However, up to now, there has been no topic mentioning the research, analysis, evaluation and completion of accounting for revenue, costs and business results at Long Bien Industrial Gas Joint Stock Company.
3. Research objectives
Systematize basic theoretical issues on accounting for revenue, costs and business results.
On that basis, research and understand the current situation of accounting for revenue, costs and business results at Long Bien Industrial Gas Joint Stock Company.
Applying theory and practice to evaluate the advantages and disadvantages in accounting for revenue, costs and business results at Long Bien Industrial Gas Joint Stock Company.
From there, the thesis proposes solutions to contribute to improving the accounting of revenue, costs and business results at Long Bien Industrial Gas Joint Stock Company.
4. Research object and scope
- Research object of the topic: The topic focuses on researching revenue, cost and business results accounting in enterprises.
- Research scope:
+ About time: The topic focuses on researching the main transactions arising in the 2019 fiscal year.
+ About space: Research topic at Long Bien Industrial Gas Joint Stock Company.
+ Regarding research content: In-depth research from the perspective of financial accounting; accounting regime issued according to Circular 200/2014/TT-BTC of the Ministry of Finance; business results determined after corporate income tax.
5. Research methods
The article uses research methods such as: Investigation and interview methods; comparison method; document research method; observation method.
* Investigation - interview method: Direct discussion with accountants at Long Bien Industrial Gas Joint Stock Company about issues surrounding the research content of the topic, especially accounting for revenue, costs and business results.
- The interviewees are the Chief Accountant and accounting staff at the Company.
- Interview time and location are agreed in advance. Interviews are conducted in person. Interview location is at the Finance - Accounting Department of the Company.
- Interview content: These are basic issues such as the organization of the accounting work of the enterprise, the accounting staff, the reality of the accounting work of revenue, expenses and accounting of business results of the enterprise. The questions asked include the contents of accounting for revenue, expenses and business results, the advantages and difficulties that the accounting apparatus of the unit encounters in the accounting process, ... as a basis to find measures to overcome those difficulties.
* Observation method: Is a method of collecting data based on direct observation of the accounting process to determine the revenue taking place at the Company.