MINISTRY OF EDUCATION AND TRAINING MINISTRY OF LABOR, WAR INVALIDS AND SOCIAL AFFAIRS
UNIVERSITY OF LABOR AND SOCIAL AFFAIRS
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DINH THI NHU HAO
FINANCIAL ANALYSIS AT TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY
MASTER'S THESIS IN ACCOUNTING
HANOI - 2021
MINISTRY OF EDUCATION AND TRAINING MINISTRY OF LABOR, WAR INVALIDS AND SOCIAL AFFAIRS
UNIVERSITY OF LABOR AND SOCIAL AFFAIRS
DINH THI NHU HAO
FINANCIAL ANALYSIS AT TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY
Major: Accounting Major code: 8340301
MASTER'S THESIS IN ACCOUNTING
SCIENTIFIC INSTRUCTOR: ASSOCIATE PROFESSOR, DR. LE THI TU OANH
HANOI - 2021
COMMITMENT
I hereby declare that: The research topic "Financial analysis at Tan Truong Son Import-Export and Construction Joint Stock Company" is my own research work.
The data in the thesis are used honestly and have clear sources. The research results presented in this thesis have never been published in any other work.
Hanoi, May 2021 STUDENTS
Dinh Thi Nhu Hao
ACKNOWLEDGEMENTS
Through the time of theoretical and practical research, I completed my master's thesis in accounting with the topic "financial analysis at Tan Truong Son Import-Export and Construction Joint Stock Company".
I would like to express my sincere thanks to Associate Professor, Dr. Le Thi Tu Oanh, who has wholeheartedly and thoughtfully guided me throughout my study and research process to complete my thesis.
At the same time, I would like to express my gratitude to the Graduate School - Faculty of Accounting, University of Labor and Social Affairs, the teachers who taught and helped me throughout the course. I would also like to thank the Board of Directors, Accounting Department of Tan Truong Son Import-Export and Construction Joint Stock Company for their great help, providing necessary information, creating favorable conditions for me to complete this thesis.
Although I have tried my best in studying and researching, my thesis cannot avoid shortcomings and defects. I look forward to receiving comments from scientists to continue to supplement and further improve my topic.
Thank you very much!
Hanoi, May 2021 STUDENTS
Dinh Thi Nhu Hao
INDEX
COMMITMENT ..............................................................................................
ACKNOWLEDGEMENTS ................................................................................................................
LIST OF ABBREVIATIONS......................................................................................
LIST OF TABLES ..............................................................................................
LIST OF DIAGRAM ..........................................................................................
INTRODUCTION 9
1. Reasons for choosing topic 9
2. Research status of topic 10
3. Research purpose and tasks 11
4. Research questions of topic 12
5. Research subjects and scope 12
6. Research methods 13
7. Meaning of topic 14
CHAPTER 1: THEORETICAL BASIS OF FINANCIAL ANALYSIS IN JOINT STOCK COMPANIES 16
1.1. GENERAL OVERVIEW OF FINANCIAL ANALYSIS IN JOINT STOCK COMPANY 16
1.1.1. Concept and objectives of financial analysis in joint stock companies 16
1.1.1.1. Concept of financial analysis of joint stock company 16
1.1.1.2. Objectives of financial analysis in joint stock companies 17
1.1.2. Financial analysis methods in joint stock companies 20
1.1.2.1. Comparison method 20
1.1.2.2. Division method (detailed) 21
1.1.2.3. Method of contact and comparison 21
1.1.2.4. Factor analysis method 22
1.1.2.5. Dupont method 23
1.1.2.6. Forecasting method 23
1.1.2.7. Other analytical methods 24
1.1.3. Financial analysis database in joint stock company 24
1.1.3.1. Financial reporting system 24
1.1.3.2. Other documents 27
1.2. CONTENT OF FINANCIAL ANALYSIS IN JOINT STOCK COMPANY 27
1.2.1. Analysis of assets and capital situation 27
1.2.1.1. Asset situation analysis 27
1.2.1.2. Analysis of capital situation 29
1.2.2. Analysis of financing activities of joint stock company 30
1.2.3. Analysis of business results in joint stock company 33
1.2.4. Analysis of debt situation and payment ability 36
1.2.4.1. Debt analysis 36
1.2.4.2. Solvency analysis 39
1.2.5. Analysis of money creation level and cash flow situation 41
1.2.5.1. Analysis of the cash generation capacity of joint stock companies 41
1.2.5.2. Analysis of net cash flow of joint stock company 41
1.2.6. Capital efficiency analysis 42
1.2.6.1. Analysis of business capital efficiency 42
1.2.6.2. Analysis of working capital turnover rate 43
1.2.6.3. Inventory turnover analysis 44
1.2.7. Analysis of the profitability of capital of joint stock companies 45
1.2.7.1 Analysis of asset profitability 45
1.2.7.2. Analysis of the profitability of equity 46
1.2.8. Financial risk analysis of the company 49
CHAPTER 1 CONCLUSION 52
CHAPTER 2: FINANCIAL STATUS AT TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY 53
2.1. OVERVIEW OF TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY 53
2.1.1. History of formation and development of Tan Truong Son Import-Export and Construction Joint Stock Company 53
2.1.2. Characteristics of the management organization of Tan Truong Son Import-Export and Construction Joint Stock Company 55
2.1.3. Characteristics of the company's production and business activities affect the content of the company's financial analysis 59
2.2. ANALYSIS OF THE CURRENT FINANCIAL SITUATION AT TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY 59
2.2.1. Current status of database serving financial analysis at Tan Truong Son Import-Export and Construction Joint Stock Company 59
2.2.2. Current financial situation at Tan Truong Son Import-Export and Construction Joint Stock Company 60
2.2.2.1. Analysis of asset situation and capital situation. 60
2.2.2.2. Analysis of the company's financing situation 72
2.2.2.3. Analysis of the company's business situation and results 74
2.2.2.4. Analysis of debt situation and payment ability 83
2.2.2.5. Analysis of cash generation capacity and cash flow situation 89
2.2.2.6. Capital efficiency analysis 94
2.2.2.7. Current status of the content of the analysis of the company's capital profitability98
2.2.2.8. Analysis of financial risk signs of the company 104
2.3. ASSESSMENT OF THE CURRENT FINANCIAL SITUATION AT TAN TRUONG SON 107 CONSTRUCTION & IMPORT EXPORT JOINT STOCK COMPANY
2.3.1. Results achieved 107
2.3.2. Existence and causes and solutions of the existence 108
2.3.2.1. Existence 108
2.3.2.2 Causes of the existence 110
CHAPTER 2 CONCLUSION 112
CHAPTER 3: SOME SOLUTIONS TO IMPROVE FINANCIAL CAPACITY AT TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY 113
3.1. DEVELOPMENT ORIENTATION OF TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY 113
3.1.1. Main objectives of Tan Truong Son 113 Import-Export and Construction Joint Stock Company
3.1.2. Development orientation of Company 114
3.2. SOLUTIONS TO IMPROVE FINANCIAL CAPACITY AT TAN TRUONG SON IMPORT-EXPORT AND CONSTRUCTION JOINT STOCK COMPANY 115
3.2.1. Improving the efficiency of asset and capital use 115
3.2.2. Improving short-term solvency 116
3.2.3. Boosting consumption and improving profitability 117
3.2.4. Promoting the collection of customer receivables 120
3.3. CONDITIONS FOR IMPLEMENTING SOLUTIONS 122
3.3.1. On the part of the State and functional agencies 122
3.3.2. On behalf of Tan Truong Son 123 Import-Export and Construction Joint Stock Company
3.3.3. Other recommendations 124
CHAPTER 3 CONCLUSION 126
LIST OF REFERENCES 127
APPENDIX 129