Home / Salary

Current Status of Salary Accounting and Salary Deductions at Cua Lo Urban Environment and Tourism Services Joint Stock Company.


University graduation thesis Supervisor: MSc. Do Song Huong

2.1.7.1. Assets and capital situation of Cua Lo Urban Environment and Tourism Services Joint Stock Company

Table 2.1: Assets and Capital Situation

University of Economics

unmarketable

Hu

Unit: VND



Target

Year

Compare

2013

2014

2015

2014/2013

2015/2014

+/-

%

+/-

%

A. SHORT-TERM ASSETS

2,651,515,594

4,732,688,135

5,908,543,167

2,081,172,541

78.49

1,732,855,032

24.85

Cash and cash equivalents

1,675,154,958

3,173,793,752

4,200,695,478

1,498,638,794

89.46

1,026,901,726

32.36

Short-term receivables

503.166.132

1,433,112,157

1,542,893,432

929,946,025

184.82

109,781,275

7.66

Inventory

127,475,919

102,512,226

127,635,688

-24,963,693

-19.58

25,123,462

24.50

Other current assets

345,718,585

23,270,000

37,318,569

-322,448,585

-93.27

14,048,569

60.37

B. LONG-TERM ASSETS

10,145,636,306

10,319,436,528

10,476,499,379

173,800,222

1.71

157,062,851

1.52

Fixed assets

10,145,636,306

10,319,436,528

10,476,499,379

173,800,222

1.71

157,062,851

1.52

TOTAL ASSETS

12,797,151,900

15,052,124,663

16,385,042,546

2,254,972,763

17.62

1,332,917,883

8.86

A. LIABILITIES PAYABLE

1,859,870,032

2,412,733,109

3,122,570,306

552,863,077

29.73

709.837.197

29.44

Liabilities

1,859,870,032

2,412,733,109

3,122,570,306

552,863,077

29.73

709.837.197

29.44

B. OWNER'S EQUITY

10,937,281,868

12,639,391,554

13,262,472,240

1,702,109,686

15.56

623,080,686

4.93

Equity

9,879,223,478

10,943,114,316

11,066,439,761

1,063,890,838

10.77

123,325,445

1.13

Other funding sources and funds

1,469,657,359

2,194,170,542

2,196,032,479

724,513,183

49.30

1,861,937

0.09

TOTAL CAPITAL

12,797,151,900

15,052,124,663

16,385,042,546

2,254,972,763

17.62

1,332,917,883

8.86

Maybe you are interested!

Current Status of Salary Accounting and Salary Deductions at Cua Lo Urban Environment and Tourism Services Joint Stock Company.



University graduation thesis Supervisor: MSc. Do Song Huong


From the data table above we see:

Total assets in 2014 compared to 2013 increased by nearly 2.3 billion VND, equivalent to an increase of 17.62%. In 2015 compared to 2014 increased by nearly 1.3 billion VND, equivalent to an increase of 8.86%. The reason is due to the fluctuation of current assets and short-term assets, including:

- Short-term assets in 2014 compared to 2013 increased sharply by 2.1 billion VND, equivalent to an increase of 78.49%. In 2015 compared to 2014, it increased by nearly 1.7 billion VND, equivalent to an increase of 24.85%. This increase is mainly due to the increase in salaries and short-term receivables in the company every year. This shows that the company's payment ability is increasingly improved, and business operations are favorable. However, the company also needs to consider the reasonable use of cash to ensure optimal economic benefits.

- Long-term assets in 2014 compared to 2013 increased by nearly 173 million VND, equivalent to an increase of 1.71% in 2015 compared to 2014, increased by nearly 157 million VND, equivalent to an increase of 1.52%. This shows that the company has focused on increasing output, productivity, scale, and purchasing equipment to serve production and business activities.

Business capital:

Over the past 3 years, the company's capital has tended to increase, this fluctuation is due to changes in the following two items:

- Liabilities in 2014 compared to 2013 increased by nearly 553 million VND, equivalent to an increase of 29.73%, in 2015 compared to 2014 increased by nearly 710 million VND, equivalent to an increase of 29.44%. Owner's equity in 2014 compared to 2013 increased sharply by nearly 1.7 billion VND, equivalent to an increase of 15.56%, in 2015 compared to 2014 increased by nearly 623 million VND, equivalent to an increase of 4.93%. Due to the increase in liabilities, total assets increased, but the growth rate of total assets was slower than the growth rate of liabilities, so the company's ability to pay quickly decreased. This shows that the company has difficulty paying short-term debts with short-term assets.




University graduation thesis Supervisor: MSc. Do Song Huong

2.1.7.2. The company's production and business performance results in the 3 years 2013-2015.

Table 2.2: Production and business performance results

University of Economics

unmarketable

Hu

Unit: VND



INDICATORS

CODE


2013


2014


2015

COMPARE

2014/2013

2015/2014


%


%

Sales and service revenue

01

9,625,013,696

9,350,611,706

9,556,909,156

-274,401,990

-2.85

206,297,450

2.21

Revenue deductions

02

-

-

-

-

-

-

-

Net revenue

10

9,625,013,696

9,350,611,706

9,556,909,156

-274,401,990

-2.85

206,297,450

2.21

Cost of goods sold

11

7,336,422,065

7,553,637,381

7,478,025,367

217.215.216

2.96

-75,612,014

-1.00

Gross profit

20

2,288,591,631

1,796,974,325

2,078,883,789

-491,617,306

-21.48

281,909,464

15.69

Financial revenue

21

3,937,300

3,625,605

3,806,332

- 311,695

- 7.92

180,727

4,985

Financial costs

22

-

-

-

-

-

-

-

Including: interest expense

23

-

-

-

-

-

-

-

Sales administration costs

24

-

-

-

-

-

-

-

Business management costs

25

1,393,653,021

1,172,215,259

1,190,356,708

-221,437,762

-15.89

18,141,449

1.55

Net profit from operating activities

30

898.875.910

628,384,671

892,333,413

-270,491,239

- 30.09

263,948,742

42.00

Other income

31

203,450,717

919.210.785

521,117,369

715.760.068

351.8

-398,093,416

- 0.43

Other costs

32

-

589,686,583

103,537,900

-

-

-486,148,683

-82.44

Other profits

40

203,450,717

329,524,202

417,579,469

120,073,485

61.97

88,055,367

26.72

Total accounting profit before tax

50

1,102,326,627

957,908,873

1,309,912,882

-144,417,754

-13.10

352.004.009

36.75

Corporate income tax expense

51

-

-

-

-

-

-

-

Profit after corporate income tax

60

1,102,326,627

957,908,873

1,309,912,882

-144,417,754

-13.10

352.004.009

36.75

Basic earnings per share

70

-

-

-

-

-

-

-



Business performance fully reflects the quality of the company's business, reflects the level of business organization management, cost management is an issue that directly affects the survival of the company. From the business results, we can clearly see the situation of the company, the advantages and difficulties the company encounters to adjust accordingly.

From table 2.2 according to the analyzed data, we draw the following conclusion: The period 2013-2015 was a period of global economic crisis, it affected all businesses operating in Vietnam and Cua Lo Urban Environment and Tourism Services Joint Stock Company was no exception.

- Net revenue

Specifically, net revenue in 2014 decreased compared to 2013 by nearly 274 million VND, equivalent to a decrease of 2.85%. In 2015 compared to 2014, net revenue increased by nearly 206 million VND, equivalent to an increase of 2.21%. Thanks to good management to meet demand, the company's net revenue is quite stable.

- Cost of goods sold

At Cua Lo Urban Environment and Tourism Services Joint Stock Company, the cost of goods sold tends to fluctuate in the opposite direction to net revenue. In 2014, compared to 2013, the volume of goods and services increased, so the cost of goods also increased by nearly 217 million VND, corresponding to an increase rate of 2.96%. In 2015, the cost of goods continued to decrease, nearly 76 million VND compared to 2014, corresponding to a decrease of 1.001%.

- Gross profit

Gross profit tends to fluctuate similar to Net revenue, in 2014 it decreased compared to 2013 by nearly 492 million VND, equivalent to a decrease of 21.48%. In 2015 compared to 2014, there was an increase of nearly 282 million VND, equivalent to an increase of 15.69%. This shows that because the business's activities are mainly generated from cleaning and collecting activities, environmental protection and tourism services, the increase or decrease of gross profit depends on seasonal and weather factors.

- Net profit from production and business activities

Net profit from production and business activities in 2014 decreased by nearly 270 million VND, equivalent to 30.09% compared to 2013. 2015 compared to 2014 increased


nearly 264 million VND, equivalent to an increase of 42%. The reason is that the business management costs have a relatively similar increase and decrease rate to the increase and decrease rate of revenue.

This shows that the business is operating effectively and has appropriate cost management policies.

- Other income

In 2014 compared to 2013, it increased sharply by nearly 716 million VND, equivalent to an increase of 351.81%, in 2015 compared to 2014, it decreased by nearly 398 million VND, equivalent to a decrease of 0.43%. This fluctuation is due to objective reasons related to seasonality and weather.

- Total accounting profit before tax

Total pre-tax accounting profit in 2014 decreased slightly compared to 2013, reaching nearly 144 million VND with a decrease rate of 13.10%. However, by 2015, this item increased to nearly 352 million VND, corresponding to an increase rate of 36.75% compared to 2014.

According to the analysis table of business results fluctuations, we see:

The company's business activities in the past 3 years were unstable, partly due to the impact of the global economic crisis of the previous 7 years. However, with the efforts of all employees, the company has stood firm with its after-tax profits gradually increasing again. In general, the company has tried to overcome difficulties and achieved the above results. This is a solid step forward for the company's future business activities. With the achieved business results, it has built trust among employees throughout the company, helping them work more enthusiastically and creatively, creating more profits for the company and improving their lives even more.

2.2. Current status of salary accounting and salary deductions at Cua Lo Urban Environment and Tourism Services Joint Stock Company.

2.2.1. General characteristics of labor and labor management at Cua Lo Urban Environment and Tourism Services Joint Stock Company.

2.2.1.1. Labor situation at Cua Lo Urban Environment and Tourism Services Joint Stock Company.

The company's business characteristics are environmental sanitation services, waste collection, transportation and treatment and tourism services, but it operates mainly in the field of


Environmental sanitation. Therefore, the company does not require all employees to have a university degree, but only requires the Management Board and those working in the accounting department to meet business requirements.

Table 2.3: Labor situation at Cua Lo Urban Environment and Tourism Services Joint Stock Company.


Target

Year

Compare

2013

2014

2015

2014/2013

2015/2014

Number

quantity

%

Number

quantity

%

Number

quantity

%

Difference

deviated

%

Difference

deviated

%

Total number of employees

51

100

49

100

54

100

-2

-3.92

5

10.20

By gender











Male

39

76.47

38

77.55

43

79.63

-1

-2.56

5

13.16

Female

12

23.53

11

22.45

11

20.37

-1

-8.33

0

0

Professional qualifications











University, post-graduate

5

9.8

5

10.20

5

9.26

0

0

0

0

College, secondary school

8

15.69

7

14.29

8

14.81

-1

-12.5

1

14.29

General labor

38

74.51

37

75.51

41

75.93

-1

-2.63

4

10.81

According to the nature of the work

Direct labor

13

25.49

13

26.53

13

24.07

0

0

0

0

Indirect labor

38

74.51

36

73.47

41

75.93

-2

-5.26

5

13.89

According to the employment contract

Short-term labor

18

35.29

19

38.78

24

44.44

1

5.56

5

26.32

Long term employment

33

64.71

30

61.22

30

55.56

-3

-9.09

0

0

Through table 2, we see that the total number of employees has been relatively stable over the past three years. In 2014, there was a decrease of 2 people, equivalent to 3.29% compared to 2013. In 2015, compared to 2014, the number of employees increased by 5 people, equivalent to 10.2%. The reason for this change is that in 2014, there was a global economic crisis. In order to cut costs, the company was forced to cut down on its management apparatus. When the business situation gradually stabilized, in order to ensure the progress of construction, the company increased its labor force to serve the company's needs. To better understand the company's labor situation, we need to analyze the following aspects:


+ In terms of gender: Due to the nature of the work, the proportion of male workers has always been dominant over the years. In 2013 it was 76.47%, in 2014 it was 77.55%, in 2015 it was 79.63%.

+ In terms of professional qualifications: The majority are unskilled workers, those with degrees are mainly in the company management and construction management departments. University degrees fluctuate little, the fluctuations are mainly in the secondary and college levels, especially unskilled workers. In 2013, there was a decrease of 1 person, equivalent to 2.63%, by 2015, the number of unskilled workers increased to 4 people, equivalent to 10.81%.

+ In terms of job nature: Indirect labor has not changed over the years, the main change is direct labor. In 2014, there was a decrease of 2 people, equivalent to 5.26%, and in 2015, there was an increase of 5 people compared to 2014, equivalent to 13.89%.

+ In terms of recruitment form: Due to the nature of the work being a construction contract, progress is required according to the contract, so the company needs to ensure long-term labor. Short-term labor in 2015 compared to 2014 increased by 5 people, equivalent to an increase of 26.32%, while short-term labor remained the same.

2.2.1.2. Labor management at Cua Lo Urban Environment and Tourism Services Joint Stock Company

To ensure effective business operations, the company manages labor by monitoring and recording the quantity, time and labor results of employees, specifically as follows:

- Labor quantity accounting

The labor quantity index is monitored by the human resource management department and recorded in labor books. Any changes in labor are recorded in the labor list to serve as a basis for calculating salaries and other benefits for employees.

Work records of workers are kept scientifically and reasonably by department in the accounting department, records are classified by rank and position in alphabetical order. At the same time, all information of employees is also saved on computer software.

- Labor time accounting

Accounting for working time in the company is done through timesheets. Every day, all employees work and rest according to the company's regulations: Morning from 7am to 11am, afternoon from 1pm to 5pm.


When entering and exiting the gate, employees are closely monitored by security guards. Timekeeping is done by payroll accountants. The timekeeping sheet is made public and the timekeeper is responsible for its accuracy.

- Labor results accounting

Accounting for labor results is done based on timesheets. As for other departments, the form of salary is applied based on the agreed contract. Labor results documents are signed by the preparer and must be verified.

2.2.2. Regulations on salary regime of Cua Lo Urban Environment and Tourism Services Joint Stock Company

- The company pays salary only once at the end of the month. The company commits to paying employees' salaries on time, in accordance with the employee's working capacity.

The company's salary fund includes the following main items:

- Time-based wages and piecework wages

- Salary paid to employees during the period of inactivity due to objective reasons, during the time they are mobilized to perform their duties according to prescribed regulations, etc.

- Meal allowances, responsibility allowances, overtime, extra hours:

- Currently, Cua Lo Urban Environment and Tourism Services Joint Stock Company is using the general minimum wage for the office department at 1,150,000 VND. The salary coefficient is regulated for each person in each department, division, and different functions.

Allowances:

+ Director responsibility allowance: 0.3 x 1,115,000 = 345,000 VND.

+ Gasoline allowance if any is 140,000/person.

+ Meal allowance: 11,000/day.

+ Team leader allowance 110,000/month

Standard working day : The company stipulates working hours as 8 hours/day, Sunday off.

Standard working day is 26 days

Comment


Agree Privacy Policy *