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Capital efficiency at An Giang Import Export Company Angimex - 1



AN GIANG UNIVERSITY

FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION

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UNIVERSITY THESIS

Capital efficiency at An Giang Import Export Company Angimex - 1


CAPITAL USE EFFICIENCY

AT AN GIANG IMPORT EXPORT COMPANY

ANGIMEX


Major: Business Accounting


Student: Nguyen Thi Thuy Van


Class: DH4KT; Student code: DKT030276


Instructor: NGO VAN QUI

PROJECT COMPLETED AT FACULTY OF ECONOMICS - BUSINESS ADMINISTRATION, AN GIANG UNIVERSITY


Instructor: NGO VAN QUI


Judge 1: ……………………..


Judge 2: ……………………


Thesis defended at the Thesis Defense Council


Faculty of Economics - Business Administration date….month….year…….


ACKNOWLEDGEMENTS


With the help and enthusiastic support of the Food Processing Enterprise I in particular and An Giang Import-Export Company in general, my internship topic "Effective Capital Use at An Giang Import-Export Company (ANGIMEX)" was successfully completed. During the internship, I learned valuable experiences, approached the actual business situation at the Company, thereby enriching practical knowledge, contributing to perfecting the knowledge learned at school. This has positively contributed to the content of my scientific research topic. Therefore, I would like to sincerely thank the Company for creating conditions for final year students like me to have the opportunity to develop my own capacity during the internship at the Company. Besides, I would also like to thank the Company's Board of Directors, the ladies and gentlemen in the Company, especially the ladies and gentlemen in the Accounting - Finance Department and the Administration - Human Resources Department for their enthusiastic help and support in completing this topic.


At the same time, I also sincerely thank the help of the teachers of the Faculty of Economics - Business Administration, An Giang University, especially Mr. Ngo Van Qui, who enthusiastically guided and supplemented my knowledge during the process of completing the thesis.


Finally, I wish all teachers of An Giang University good health and success in their educational career; wish An Giang Import Export Company to grow further and affirm its solid position in the international market; wish all employees of ANGIMEX Company peace, prosperity and success in life;….


Student: Nguyen Thi Thuy Van.

INTRODUCTION


After nearly two decades of renovation, our country's economy has shifted from a centrally planned economy to a market economy. Commodity production has developed strongly to meet domestic consumption and export, especially agricultural products, including rice, which has achieved high export levels and is considered to have great prospects in the coming time. The event of Vietnam officially becoming a member of the WTO has opened up a large market for Vietnamese agricultural products, but at the same time, it has also increased increasingly fierce and fierce competition between Vietnamese enterprises and foreign enterprises. Foreign enterprises have the advantage of large capital, products manufactured on the basis of industrialization and modernization, so the quality and suitable prices combined with experience in dominating the market have created huge challenges for domestic enterprises, especially Vietnamese import-export enterprises.


Import-export enterprises with export and import activities are important factors to promote all internal resources, create more investment capital to innovate technology, accelerate the process of industrialization and modernization of the country. Aware of that importance, An Giang Import-Export Company has not only fulfilled its role but also continuously developed and enhanced the Company's position in the international market. To do that, the Company had to use its investment capital effectively. Because only then can the Company compete with foreign enterprises with larger investment capital. That is why capital plays a very important role in the survival of the Company itself.


To better understand how to use capital and evaluate the efficiency of capital use of the Company, I chose to do my graduation thesis on "EFFICIENCY OF CAPITAL USE AT AN GIANG IMPORT-EXPORT COMPANY (ANGIMEX)". Through

By doing this topic, I will gain useful knowledge about how to use and manage capital, one of the important ways that has brought the Company to the achievements it has today.


The topic includes 5 chapters:


- Chapter 1 is the chapter explaining the reason for choosing the topic, the research objectives, the research method to reach the conclusions drawn and the limitations of the research topic.


- Chapter 2 is the theoretical foundation chapter, this is the chapter that builds the theoretical foundation.

for analysis and evaluation to draw conclusions in chapter 4.


- Chapter 3 is a chapter that briefly introduces the history of the Company's establishment and development, business performance and related information as a basis for evaluating the Company's capital efficiency in the past 3 years.


- Chapter 4 is the most important chapter of the topic. Through the content of this chapter, we will have comments on the situation of capital use at the Company, evaluate the operating efficiency as well as the financial health of the Company, especially the ability to generate profits from the effective use of capital. At the same time, we will discover

Identify strengths and weaknesses and propose solutions to the Company to improve

more efficient use of capital.


- Chapter 5 summarizes all the information discovered in chapter 4, from which the researcher himself makes some recommendations to the Company.


The topic could have been better if the limitations had been overcome. The limitation here is that the researcher could not find another object to compare with the Company under study to increase objectivity in the evaluation. The parameters in the analysis are only evaluated in relation to past parameters. If the parameters were evaluated in relation to similar companies (because ANGIMEX Company, in addition to trading in food, also operates in many other fields, it is very difficult to find another company with a similar form of business for comparison), with the average industry index (currently in Vietnam, information about the industry is still very limited, so external comparisons are almost meaningless). These things have limited the comparison and evaluation of financial indicators.


The project was successfully completed with the support and assistance from An Giang Import Export Company and An Giang University, especially Mr. Ngo Van Qui and the efforts of the author himself.

INDEX


Page Contents

Chapter 1: Introduction 1

1.1. Reasons for choosing topic 1

1.2.Research objective 1

1.3.Scope of research 1

1.4.Research method 2

1..4.1.Methods of collecting data and documents 2

1.4.2.Analytical method 2

Chapter 2: Theoretical basis 3

2.1. Concept and classification of enterprise capital 3

2.1.1. Concept of enterprise capital 3

2.1.2.Capital classification 3

2.1.3. Principles of preserving and improving the efficiency of capital use 4

2.1.4. Objectives and significance of capital efficiency analysis 4

2.2.Fixed assets 4

2.2.1.Concept 4

2.2.2.Classification 5

2.2.3.The importance of fixed asset management 5

2.2.4.Improving the efficiency of using fixed assets 5

2.3. Current assets 6

2.3.1.Concept 6

2.3.2.Classification of TSLD 6

2.3.3.The importance of labor management 7

2.3.4. Improve the efficiency of using working capital 7

2.4.Introduction to financial indicators 7

2.4.1.Solvency ratio 7

2.4.2. Indicators showing operational efficiency 8

2.4.3.Financial leverage ratio 10

2.4.4.Rate of return 11

2.4.5. Efficiency of using working capital 12

2.5.Introduction to Dupoint analysis method 13

Chapter 3: General introduction about ANGIMEX Company 15

3.1. History of formation and development 15

3.2.Main business areas 15

3.2.1.Export 15

3.2.2.Import 17

3.2.3. Commerce 17

3.2.4. Information technology services 17

3.3.Company organizational structure, functions and tasks of departments 17

3.3.1. ANGIMEX Company Organizational Network 17

3.3.2. Member units 17

3.3.3. Functions and tasks of departments 17

3.4.Business performance of the Company 18

3.4.1.Business performance 18

3.4.2.Structure of cash flow statement 20

3.5. Development plan for 2007 20

Chapter 4: Capital usage situation at ANGIMEX Company 22

4.1. Capital usage situation in asset investment policy 22

4.1.1.Payment Status of Company 22

4.1.2.Efficiency in investing in current assets 23

4.1.2.1.Receivables turnover 23

4.1.2.2.Inventory turnover 24

4.1.2.3. Efficiency of using current assets 26

4.1.3.Efficiency in fixed asset investment and long-term investment 28

4.1.3.1.Fixed Asset Utilization Efficiency 28

4.1.3.2.Efficiency in financial investment of DH and other DH assets 29

4.1.4. Total asset utilization efficiency 29

4.2. Advantages of equity capital in increasing financial leverage 30

4.2.1. Debt to total assets ratio 30

4.2.2.Long-term debt to equity ratio 31

4.3. Efficiency of capital and asset use 32

4.3.1. Efficiency of using working capital 32

4.3.1.1. Working capital 32

4.3.1.2.Working capital needs 34

4.3.2. Return on total assets (ROA) 37

4.3.3. Return on Equity (ROE) 39

4.4. Some proposed solutions to improve capital efficiency at Company 44

Chapter 5: Conclusion and recommendations 46

5.1.Conclusion 46

5.2.Recommendation 48

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