7. Calculate the amounts to be deducted from the salaries of officers and civil servants according to the prescribed rate.
8. Company X requested a discount on the goods they purchased last period due to quality reasons. The unit agreed to reduce 2% of the total payment price (selling price of the previous period's goods was 10,000, VAT 10%, Company X has not paid yet).
9. Offsetting debt between the unit and enterprise X.
10. Sold some inventory materials at the end of last year for cash, sale price 500, selling price 800.
Request:
1. State the basis for recording and accounting for arising economic transactions.
2. If the unit uses the NKC form, which accounting books need to be opened to reflect the economic transactions arising during the period? Reflect the above economic transactions in the NKC books.
Lesson 5.2:
At public service unit Z, the following transactions occurred during the period (Unit: 1,000 VND):
1. Assets found to be missing during the previous inventory period were 5,000 units and decided to handle them: collect compensation equal to 50%, the rest was eliminated. The recovered amount was paid to the State.
2. The unit was given an advance of 25,000 by the State Treasury to pay the seller for the previous period's goods.
3. Withdraw cash to pay the collected fees into the unit's treasury deposit account: 15,000, and pay into the State budget: 10,000.
4. The unit collects on behalf of subordinate unit A in cash the amount of 33,000.
5. Bonus payable to officers and employees: 8,000.
6. Salaries payable to officers and employees: 52,000.
7. Unit of calculation for deductions from salary according to prescribed rate.
8. Withdraw the budget and pay all salary deductions to the authorities.
9. Withdraw the budget and transfer money to the TGNH account to pay salaries to officers and civil servants (received the bank's notice).
10. Pay salaries to officers and employees through accounts (received debit notice from bank).
11. The amount receivable from subordinate unit B for funds that subordinate unit B must pay is 24,000.
12. Payment on behalf of unit A for office supplies paid in cash: 1,200, VAT 10%.
13. At the end of the period, the unit and its subordinate units A and B will clear the collected and paid amounts and pay the difference in cash.
Request:
1. Record the economic transactions that arise and state the basis for recording.
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2. Record the General Ledger and detail ledger account 342 in the form of a General Journal.
Lesson 5.3:
At public service unit A, there are production and business activities, paying VAT according to the deduction method during the period, there are the following economic transactions (Unit: 1,000 VND):
1. Purchase of materials for warehouse for business activities: 12,000, VAT 10%, the unit has withdrawn the operating budget for payment. Transportation costs in cash: 1,200, VAT 10%.
2. The accountant determines the amount of fees payable to the State budget as: 6,500.
3. Purchase of goods worth 82,000, VAT 10%, unpaid goods price. Shipping cost 2,200 (including VAT 10%) unpaid.
4. Issue materials to provide operating funds to subordinates: 15,000.
5. Withdraw TGKB to pay seller in transaction 3, seller will enjoy payment discount of 2%/total payment price.
6. The amount of funds allocated to subordinates and subordinate units that have been spent and proposed for settlement is: 80,000, the remaining 5,000 that the subordinate units did not spend in full has been returned by depositing money into the treasury.
7. The amount of fees collected by the unit in cash must be paid to the superior: 22,000.
8. Product delivery, delivery value 25,000, sales value 36,000, VAT rate 10%. Customer has not paid yet.
9. Inventory of warehouse discovered surplus of 1 batch of raw materials worth 2,300 for unknown reasons.
10. Import a shipment of goods worth 150,000 USD, import tax 20%, import VAT 10%, unpaid money to seller (Knowing the actual transaction exchange rate: 21,000 VND/USD).
11. Excess raw materials discovered in transaction 9, after determining the cause, the unit decided to handle the problem by recording an increase in operating expenses.
12. VAT deduction.
Request:
1. Accounting for arising economic transactions.
2. Reflect in the General Journal.
Lesson 5.4:
At public service unit M, there are production and business activities, paying VAT according to the deduction method, during the year the following economic transactions occurred (Unit: 1,000 VND):
1. Purchase a batch of goods worth 80,000 to store, VAT 10%, unpaid goods. Shipping costs in cash
2,200 (including 10% VAT).
2. Sold a batch of goods worth 52,000, selling price excluding tax 72,000, VAT 10%, customer paid half in cash, the rest has not been paid. Shipping cost to be paid by the unit: 1,500, VAT 10%.
3. Salaries payable to officers and employees in public service activities 23,000, sales department employees 12,000, the unit deducts payable amounts according to salaries at the prescribed rate.
4. Business license tax payable for production and business activities 1,500.
5. Interest on loans used for production and business activities 1,000 has been paid by bank transfer.
6. Return to seller the poor quality shipment with pre-tax value
5,000 (purchased in transaction 1), pay off all debt to seller by bank transfer.
7. Employee benefits: 4,300 in cash.
8. Withdraw the operating budget to repay the debt for purchasing raw materials from the previous period.
22,000 (including 10% VAT), seller gives 1% payment discount on total payment price.
9. Fees and charges collected during the period 65,000 in cash and
32,000 by bank transfer.
10. At the end of the period, 50% of the collected fees must be transferred to the State budget, the remaining amount must be supplemented to operating funds.
11. Determine the results from business activities and transfer to account 421, determine corporate income tax payable (knowing the corporate income tax rate is 25%).
Request:
1. Record the economic transactions that arise and state the basis for recording.
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2. Record General Ledger Accounts 311, 331 in the form of Bookkeeping Voucher.
Lesson 5.5:
At a public service unit Y with production and business activities, paying VAT according to the deduction method, the opening balance of the accounts is as follows (Unit: 1,000 VND):
Account 111
40,000 | Account 337 (3371) | 20,000 | |
Account 112 | 185,000 | Account 331 | 28,000 |
Account 152 | 140,000 | Account 411 | 52,000 |
Account 211 | 456,000 | Account 461 | 205,000 |
Account 214 | 128,000 | Account 466 | 320,000 |
Account 311 | 35,000 | Account 431 | 60,000 |
Account 341 | 30,000 | Account 441 | 73,000 |
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Details: Funding for subordinate unit A: 20,000, unit B: 10,000.
During the period, the following economic activities occurred:
1. Received notification of approved operating budget of 1,700,000.
2. Approve the previous year's final settlement report: approved expenditure: 340,000, expenditures in violation of regulations must be recovered and transferred to this year's operating budget 10,000
3. Purchase of materials for use in production and business activities, purchase price excluding VAT 23,000, VAT rate 10%, the unit paid by bank transfer, transportation costs paid in cash 1,100 (including VAT 10%).
4. Exporting materials for professional activities
26,000. Knowing that the inventory of materials belonging to the operating expenses of the previous year has been settled as 20,000.
5. Purchased some CCDC for use in the office department with a purchase price of 15,000, VAT 10%, the unit paid the seller with the estimated operating expenses for return, transportation cost 500, VAT 10% paid in cash. These tools are estimated to be used for 3 years.
6. Expenditure on union activities at unit 1,500 in cash.
7. Salary payable to civil servants and public employees of the public service department during the period 95,000, for production and business activities 27,400. Deduct salary deductions according to the prescribed rate.
8. Amount of social insurance subsidy payable to civil servants and public employees 3,100.
9. Pay social insurance, unemployment insurance, trade union fees, buy health insurance cards using the operating budget, the part deducted from employees' salaries is paid by bank transfer.
10. Withdraw the operating expenditure budget to the fund to prepare for paying salaries and social insurance benefits to civil servants according to the actual amount paid. Pay cash to pay the above amounts.
11. Sold a batch of goods worth 70,000, VAT rate 10%, customer has not paid yet, warehouse value of the batch of goods is 53,000.
12. Inventory discovered a shortage of 1 fixed asset in the office department, book value: original price 40,000, accumulated depreciation 34,000, decision to handle: the office department compensated 60%, collected in cash, the remaining amount was compensated by the agency fund. The unit must submit all of this revenue to the budget.
13. Approve the settlement report of the subordinate units: Unit A: approved operating budget 55,000. Unit B: approved operating budget 60,000.
14. Transfer the difference between revenue and expenditure of production and business activities to account 421, determine corporate income tax payable.
15. The amount of funds the agency must provide to unit A is 20,000 and to unit B is 15,000.
Request:
Posting and reflecting in accounting accounts.
References Chapter 5
1. Ministry of Finance (2006), Decision No. 19/2006/QD-BTC dated March 30, 2006 of the Minister of Finance on accounting regime for administrative and public service units, Hanoi.
2. Ministry of Finance (2006), Law on Accounting and guiding documents , Finance Publishing House, Hanoi.
3. Ministry of Finance (2006), Administrative and career accounting regime, issued under Decision No. 19/2006/QD-BTC of the Minister of Finance, amended and supplemented under Circular 185/2010/TT-BTC dated November 15, 2010.
4. Ministry of Finance (2008), Decision No. 32/2008/QD-BTC dated May 29, 2008 on promulgating the regime for management and depreciation of fixed assets in state agencies, public service units and organizations using the state budget, Hanoi.
5. Nguyen Thi Dong (2005), Textbook of Public Accounting in Administrative and Career Units , Finance Publishing House, Hanoi.
CHAPTER 6
ACCOUNTING REPORTS IN PUBLIC SERVICE UNITS
Target:
This chapter helps students understand:
- Accounting reporting system in public service units.
- Contents, principles of preparation and presentation of financial reports and budget settlement reports in public service units.
- Overview of content, principles of preparing and presenting management reports in public service units.
6.1. General issues on accounting reports in public service units
6.1.1. Concept and nature of accounting reports
Accounting is an important component in the system of financial and economic management tools of units and plays an active role in managing, operating and controlling economic activities, responsible for providing realistic financial and economic information with legal value and reliability to unit leaders, superior management agencies and related subjects to have a basis for making appropriate management decisions . The basic function of accounting in accounting units in general, and HCSN units in particular, is to collect, process and provide information on the situation and results of the unit's operations to information users. To perform this function, accounting must collect information on financial and economic transactions that have arisen during the unit's operations through the system of accounting documents. Accounting documents are processed and systematically reflect information on transactions.