Accounting for revenue, expenses and determining business results at Saigon Real Estate Joint Stock Company

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HO CHI MINH CITY UNIVERSITY OF TECHNOLOGY FACULTY OF ACCOUNTING - FINANCE - BANKING

GRADUATION THESIS

ACCOUNTING FOR REVENUE, EXPENSES AND DETERMINING BUSINESS RESULTS AT SAIGON REAL ESTATE JOINT STOCK COMPANY (SAIGONRES)

Industry : ACCOUNTING

Major : FINANCIAL ACCOUNTING

Instructor: Ths. Nguyen Thu Hien Student: Pham Nguyen Diem Chi Student ID: 1054030087 Class: 10DKTC08

HO CHI MINH CITY, 2014

COMMITMENT

I certify that this is my research topic. The data and results in the internship report were conducted at Saigon Real Estate Joint Stock Company (SAIGONRES), not copied in any form. I am fully responsible to the school for this commitment.

Ho Chi Minh City, Date month year

Sign

Pham Nguyen Diem Chi

i SVTH: Pham Nguyen Diem Chi

ACKNOWLEDGEMENTS

First of all, I would like to sincerely thank Ho Chi Minh City University of Technology , the Faculty of Accounting-Finance-Banking, and the teachers who have taught me over the past 4 years to help me acquire and accumulate a lot of useful knowledge for myself and my future career.

Next, I would like to sincerely thank my supervisor, Ms. Nguyen Thu Hien , for her dedicated help and guidance throughout the process of writing this graduation thesis so that I could complete it in the best possible way.

I would like to express my sincere thanks to the entire Saigon Real Estate Joint Stock Company (SAIGONRES), especially the brothers and sisters in the company's accounting department who have wholeheartedly helped, guided, and taught me in detail, creating all favorable conditions for me to access real data sources, contributing to making my report better.

I wish you good health, success in work and life. I wish your company to grow stronger and stronger.

With limited knowledge and lack of practical experience, I will inevitably make mistakes. I hope to receive sympathy, guidance and contributions from teachers and the Company to improve my thesis.

Once again, I sincerely thank you!

Ho Chi Minh City, Date

Sign

Pham Nguyen Diem Chi

ii Student: Pham Nguyen Diem Chi

INSTRUCTOR COMMENTS

……………………………………………………………………………………….

Ho Chi Minh City, Date month year

Sign

MSc. Nguyen Thu Hien

iii Student: Pham Nguyen Diem Chi

INDEX

Foreword 1

Chapter 1: THEORETICAL BASIS OF ACCOUNTING FOR REVENUE, EXPENSES, AND DETERMINATION OF BUSINESS RESULTS 4

1.1. CONCEPT, TASKS AND MEANING OF REVENUE AND COST ACCOUNTING, DETERMINING BUSINESS RESULTS. 4

1.1.1. Concept of revenue, cost and determination of business results: 4

1.1.1.1. Revenue: 4

1.1.1.2. Cost: 5

1.1.1.3. Determine business results: 7

1.1.2. Tasks of accounting for revenue, expenses and determining business results:

................................................................ ................................................................ ..........................9

1.1.3. The meaning of revenue and cost accounting and determining business results: 9 1.2. REVENUE AND INCOME ACCOUNTING 10

1.2.1. Accounting for sales revenue and service provision 10

1.2.1.1. Concept: 10

1.2.1.2. Revenue recognition conditions 10

1.2.1.3. Principles of determining revenue 10

1.2.1.4. Documents used: 10

1.2.1.5. User account: 11

1.2.1.6. Accounting method: 11

1.2.2. Accounting for financial activity revenue: 17

1.2.2.1. Concept: 17

1.2.2.2. Documents used: 17

1.2.2.3. User account: 17

1.2.2.4. Accounting method: 17

1.2.3. Accounting for income from other activities: 20

1.2.3.1. Concept: 20

1.2.3.2. Documents used: 20

1.2.3.3. User account: 20

1.2.3.4. Accounting method: 21

1.3. ACCOUNTING FOR REVENUE DEDUCTIONS: 24

1.3.1. Trade discount: 24

1.3.1.1. Concept: 24

1.3.1.2. Accounting regulations: 24

1.3.1.3. User account: 24

1.3.1.4. Accounting method: 25

1.3.2. Sales discount: 26

1.3.2.1. Concept: 26

1.3.2.2. Accounting regulations: 26

1.3.2.3. User account: 26

1.3.2.4. Accounting method: 26

1.3.3. Returned goods: 28

1.3.3.1. Concept: 28

1.3.3.2. Accounting regulations: 28

1.3.3.3. User account: 28

1.3.3.4. Accounting method: 28

1.4. COST ACCOUNTING, COST OF PRODUCTS: 30

1.4.1. Accounting for cost of goods sold: 30

1.4.1.1. Concept: 30

1.4.1.2. Documents used: 30

1.4.1.3. User account: 30

1.4.1.4. Accounting method: 31

1.4.2. Financial cost accounting: 32

1.4.2.1. Concept: 32

1.4.2.2. Documents used: 32

1.4.2.3. User account: 33

1.4.2.4. Accounting method: 33

1.4.3. Accounting for sales costs: 36

1.4.3.1. Concept: 36

1.4.3.2. Documents used: 36

1.4.3.3. User account: 36

1.4.3.4. Accounting method: 37

1.4.4. Business management cost accounting: 38

1.4.4.1. Concept: 38

1.4.4.2. Documents used: 38

1.4.4.3. User account: 38

1.4.4.4. Accounting method: 39

1.4.5. Other cost accounting: 41

1.4.5.1. Concept: 41

1.4.5.2. Documents used: 41

1.4.5.3. User account: 41

1.4.5.4. Accounting method: 42

1.4.6. Accounting for corporate income tax expenses: 43

1.4.6.1. Concept: 43

1.4.6.2. Tax calculation method 43

1.4.6.3. Documents used: 44

1.4.6.4. User account: 44

1.4.6.5 Accounting method: 45

1.5. ACCOUNTING DETERMINES BUSINESS RESULTS: 47

1.5.1. Concept: 47

1.5.2. Documents used: 47

1.5.3. User account: 47

1.5.4. Accounting method: 47

Chapter 2: CURRENT STATE OF ACCOUNTING FOR REVENUE, EXPENSES, AND DETERMINATION OF BUSINESS RESULTS AT SAIGON REAL ESTATE JOINT STOCK COMPANY (SAIGONRES) 51

by SVTH: Pham Nguyen Diem Chi

2.1. GENERAL INTRODUCTION OF SAIGON REAL ESTATE JOINT STOCK COMPANY:

................................................................ ................................................................ ..............................51

2.1.1. History of formation and development of Saigon Real Estate Joint Stock Company:

................................................................ ................................................................ ..........................51

2.1.1.1. General introduction of the Company: 51

2.1.1.2. Formation and development process: 52

2.1.1.3. Business lines: 53

2.1.2. Organizational structure of Saigon 55 Real Estate Joint Stock Company

2.1.3. Organization of accounting work at Saigon Real Estate Joint Stock Company: 60

2.1.3.1. Organizational structure of the accounting department at the company: 60

2.1.3.2. Functions of each accounting section: 61

2.1.3.3. Some basic information about accounting work at the Company: 63

2.1.3.4. Facilities: 69

2.1.4. Sales at Saigon Real Estate Joint Stock Company: 69

2.1.5. Advantages, difficulties and development directions: 72

2.1.5.1. Advantages: 72