+ Board of Control
The Board of Supervisors elected by the General Meeting of Shareholders consists of three (03) members, representing the shareholders to control all management and business operations of the Company. The Board of Supervisors is responsible before the General Meeting of Shareholders and the Law for the work performed according to the rights and obligations stipulated in the Charter.
+ Board of Directors
The Director is appointed by the Board of Directors. He is subject to the supervision of the Board of Directors and is responsible to the General Meeting of Shareholders, the Board of Directors and the Law for the implementation of assigned rights and duties.
+ Accounting Department
Is a professional department with the function of advising and being responsible to the Board of Directors for financial and accounting work. The duties of the Accounting Department include:
- The accounting department has the function and task of organizing and implementing full accounting of all production and business activities in the entire Company in accordance with accounting laws;
- Advise the Company Director to mobilize financial resources to serve the Company's production and business;
- Deal with financial banks, tax authorities and relevant state agencies to advise the Company Director on resolving related matters;
- Maintain confidentiality of the Company's financial and accounting documents.
+ Sales Department
Is a functional department with the function of advising and being responsible to the Board of Directors for market development work. The tasks of the sales department include:
- Research and study the market and related industry development strategies to orient the Company's operations and short-term and long-term production and business development plans;
- Research, establish relationships with partners and access the market to create jobs and negotiate economic contracts between the Company and partners;
- Prepare documents, annual ordering plan and accept volume with investor;
- Synthesize, balance, make monthly, quarterly, 6-month, yearly plans and long-term plans for production, business and other activities of the Company, submit to the Director for approval and protect the plan before superiors for approval. Monitor, check, and urge units to implement according to assigned plans or sudden tasks when required by the Company.
+ Administrative Department
It is a professional department with the function of advising and being responsible to the Board of Directors for the organization of labor, salary and administrative work of the Company. The tasks of the Organization - Administration Department include:
- Guide, organize, inspect and urge the implementation of regulations on administrative management, document and archive work;
- Manage and use the seal according to the Company's regulations;
- Perform reception work for the Company; Manage meeting rooms;
- Print, photocopy documents, papers... to serve activities
Company's activities.
- Manage and transfer incoming and outgoing documents in a timely manner:
- Manage security work, preserve assets of the Company office and janitorial services.
- Research on regimes, policies and legal regulations on laborers;
- Advise on decisions on organizational structure, personnel and labor use.
movement in the Company
-Advise the Company Director on labor contract matters.
labor, labor management, building labor and salary standards;
- Organize the implementation of emulation, reward, discipline, salary increase, and social insurance regimes;
- Develop salary regulations for employees;
- Manage employee records and social insurance books.
2.1.2.2. Business performance situation at Environmental Joint Stock Company
Ha Dong urban area 2018 - 2019
Table 2.2: Business results of Ha Dong Urban Environment Joint Stock Company in the period of 2018 - 2019
Unit: 1,000 VND
Target
2018 | 2019 | Rate (%) | |
Sales revenue and CDSV | 104,784,822 | 117,158,369 | 111.81 |
Cost of goods sold | 93,254,571 | 103,946,926 | 111.47 |
Gross profit on insurance and CCDV | 11,126,101 | 13,211,443 | 118.74 |
Financial profit | 1,179,827 | 1,992,267 | 168.86 |
Other profits | 716,344 | -1,011,880 | -141.26 |
Total profit before tax | 2,735,357 | 5,528,751 | 202.12 |
Profit after tax | 1,991,863 | 4,212,527 | 211.49 |
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(Source: Accounting Department, Ha Dong Urban Environment Joint Stock Company)
The Company's cost of goods sold in 2019 was VND 103.95 billion, a slight increase of 11.47% compared to 2018. At the same time, the Company's net revenue in 2019 increased by 12.24% compared to 2018 and the ratio of cost of goods sold to net revenue in 2019 reached 88.72%, a slight decrease compared to 2018 (89.34%). The Company's current difficulty is that fuel costs are still high because the Company's machinery and equipment have been used for many years and labor costs are not consistent with revenue. Some stages of garbage collection in the process still do not have a unit price, specifically: Most of the roads in Hanoi in general and Ha Dong in particular have not been synchronized to bring the machine to sweep 100% of the road area, such as: Cars and motorbikes are parked everywhere, steps up and down in the middle of the sidewalk are not synchronized, forcing people to put up a ramp, making the broom of the garbage truck unable to clean. Therefore, many roads
still have to combine cleaning by vehicle and manual cleaning. However, the unit price for cleaning garbage according to regulations is only for vehicles, not manual cleaning. The Company still has to pay for 2 types of garbage cleaning, but only 1 type is calculated. Overall, the Company's business situation in 2019 has tended to improve compared to 2018.
2.1.3. Characteristics of accounting organization
2.1.3.1. Characteristics of the accounting system at the company
After receiving the initial documents, the accounting department will check, classify, summarize, distribute and record... of the project cluster, account for advance payments to the contractor, bank deposits and loans, fixed assets, business capital, company funds... The preparation of financial reports is all undertaken by the company's accounting department.
Organizing centralized accounting in the company is very reasonable, suitable for the company's location of operation. It ensures centralized and unified leadership for accounting work throughout the company.
Note: Online Relationship
Functional relationship
Diagram 2.2: Organizational structure of the accounting department at the Company
(Source: Accounting Department, Ha Dong Urban Environment Joint Stock Company)
The company's accounting department is organized in a centralized and specialized manner, each person in the accounting department is assigned to a specific job, so the accounting work at the company is relatively complete and does not overlap. The company's accounting department has 5 people, including 4 accountants and 1 cashier.
Function: Assist the director in directing the implementation of all financial and accounting work in the company according to the state's policies on financial management.
Duties: Record and reflect all economic transactions arising in relevant accounts. Prepare reports, provide data and documents of the company as requested by the company director and state management agencies. Prepare financial plans and accounting, advise the director on decisions in company management.
Chief Accountant: Responsible to the director and legal authorities for all accounting work at the company. Responsible for general monitoring and guiding the organization, assigning and checking the work of accounting staff.
General Accounting: Collects all the general expenses of the company and other service activities of the company. Keeps a General Ledger for all the operations and records the general ledger of the company.
Payment accounting (salary): Timely record arising payment transactions, calculate salaries and salary deductions, allocate salary expenses and production and business expenses during the period in accordance with current accounting regime.
Cashier: Reflects daily cash receipts, expenditures, and balances actual cash balance with the books to detect errors and promptly handle them to ensure that actual cash balance is equal to the balance in the books.
2.1.3.2. Characteristics of the accounting regime at the company
The accounting policies currently applied at the Company are as follows:
- The accounting year begins on January 1 and ends on December 31 of each year.
- The currency used in accounting records is Vietnamese Dong (VND).
- Applicable accounting regime: Currently, the Company applies the Enterprise Accounting Regime issued under Circular 200/2014/TT-BTC.
- Accounting standards applied to tangible fixed assets and intangible fixed assets: The unit applies Vietnamese Accounting Standards VAS 03 and VAS 04 and guidance documents on fixed asset accounting issued by the State. Financial statements are prepared and presented in accordance with the provisions of each current applicable Standard and Circular.
- Applied accounting form: The unit uses computerized accounting in the form of General Journal - bookkeeping is divided into 2 separate processes: General Ledger recorded according to the system; General Journal recorded according to time, reflecting all bookkeeping documents created during the period. Fixed assets accounting uses bookkeeping documents created for fixed assets transactions, bookkeeping document registration book and fixed assets account ledger, fixed assets depreciation account.
Note:
Daily Record:
End of month recording, periodic recording:
Check comparison:
Diagram 2.3: Form of recording fixed assets at the Company
(Source: Accounting Department, Ha Dong Urban Environment Joint Stock Company)
- Principles of recording and depreciating fixed assets: Fixed assets and intangible fixed assets are recorded at original cost. During use, fixed assets and intangible fixed assets are recorded at original cost, accumulated depreciation and residual value.
+ Depreciation of fixed assets of the unit is carried out according to the method
straight line
+ The depreciation unit applies Circular No. 45/2013/TT-BTC dated April 25, 2013 of the Ministry of Finance promulgating the regime of management, use and depreciation of fixed assets.
Diagram 2.4: Sequence of recording fixed asset accounting at the Company
(Source: Accounting Department, Ha Dong Urban Environment Joint Stock Company)
2.2. Current status of fixed asset accounting at Ha Dong Urban Environment Joint Stock Company
2.2.1. Fixed assets situation at Ha Dong Urban Environment Joint Stock Company
Fixed assets at Ha Dong Urban Environment Joint Stock Company are currently mainly invested by equity capital, a few assets are invested
by bank loans. Fixed assets are formed mostly through purchases and basic construction investments.
The company operates in many industries, so the company's fixed assets portfolio is very rich and diverse, such as: buildings, structures, machinery and equipment, means of transport.
Fixed assets at Ha Dong Urban Environment Joint Stock Company are classified according to their form of expression, divided into two types: physical fixed assets and intangible fixed assets.
- Based on the technical characteristics of the company's fixed assets, they are divided into:
+ Houses and structures: Office building in Yen Nghia industrial park, electric garbage garage in Van Phuc, garage and office in Bien Giang, steel garbage storage house on To Huu street...
+ Machinery and equipment: Standard 45KVA voltage stabilizer, generator, 3-phase squirrel cage rotor electric motor, excavator, floor scrubber, concrete cutter, water pump...
+ Transport vehicles: garbage trucks, water trucks, mud trucks, trucks, street sweepers...
Table 2.3: Summary report of fixed assets as of December 31, 2019
(Unit: Dong)
Asset Type
Original price | Proportion (%) | Residual value | |
Tangible fixed assets | 142,592,745,199 | 97.2 | 59,773,113,371 |
Houses, buildings | 45,539,180,383 | 31.9 | 33,691,183,850 |
Machinery and equipment | 3,664,771,381 | 2.6 | 79,000,390 |
Transmission media | 93,388,793,435 | 65.5 | 26.002.929.131 |
Intangible fixed assets | 4,050,000,000 | 2.8 | 2,255,000,000 |
Land use rights | 3,140,000,000 | 77.5 | 1,576,000,000 |
Software program | 910,000,000 | 22.5 | 679,000,000 |
Total | 146,642,745,199 | 100 | 62.128.113.371 |
(Source: Accounting Department, Ha Dong Urban Environment Joint Stock Company)