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General Accounting Diagram of Import - Export of Tools and Equipment


Cao Minh Construction and Trading Company Limited

192 – Nguyen Thai Son – Go Vap District

Model No.: S38-DN

(Issued under Decision No. 15/2006/QD-BTC dated March 20, 2006 of the Minister of Finance)

ACCOUNT DETAILS BOOK 133

From 01/01/2012 to 31/12/2012



CT


Day


Number


Interpretation


Debt Incurrence


Generated Yes

Account

Yes


DT Code


Phone Name




Opening balance






…

…

…

…

…

…

…

…

…

PN

11/25

201/PN

Enter tools for

project

3,141,400


331

KVLAI

Visitor

PN

11/28

232/PN

Import tools

construction tools

445,000


331

KVLAI

Visitor

PN

4/12

252/PN

Enter tools for

project

0





...

...

...

...

...

..

...

...

...




Co-arising

during the period

19,896,223

19,896,223







Closing balance






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General Accounting Diagram of Import - Export of Tools and Equipment


Preparer Chief Accountant Director

(Signature, full name) (Signature, full name) (Signature, full name)


(Source: Finance - Accounting Department of Cao Minh Construction - Trading Co., Ltd.)

Export tools and equipment

Transaction 1: Based on warehouse delivery note No. 205/X dated November 25, 2012 issued by CCDC such as: pumps, hoes, shovels, trowels, wheelbarrows with small value, the accountant allocates it once to the production and business expenses of the period. The accountant records as follows:

:

3,414,000

copper

:

3,414,000

copper

Debit account 627

Have account 153

The calculation of allocation of exported fixed assets to users can be done once or many times. There are types of fixed assets that are allocated twice, so when exported, the accountant immediately allocates 50% of the actual value of exported fixed assets to the production and business expenses of that period. When damaged, the remaining value of that fixed assets will be allocated.

For compactor equipment, due to its large value, accountants allocate 50% of the value of the equipment to production and business expenses. Accountants record as follows:

:

28,000,000

copper

:

28,000,000

copper

Debit account 142

Have account 153

:

14,000,000

copper

:

14,000,000

copper

Allocate the value of fixed assets to this cost: Debit account 627

Have account 142

Transaction 2: Based on warehouse receipt No. 215/PX dated November 28, 2012, issuing scaffolding for Nguyen Huy Tuong's project worth VND 4,450,000, which is allocated for 10 months. The accountant records the following:

:

4,450,000

copper

:

4,450,000

copper

Debit account 142

Have account 153

:

445,000

copper

:

445,000

copper

Allocate the value of fixed assets to this cost: Debit account 627

Have account 142

Transaction 3 : Based on warehouse delivery note No. 254/X dated December 4, 2012, issuing CCDC for Nguyen Huy Tuong House project, the accountant makes the following entries: (Appendix 9)

:

5,050,000

copper

:

5,050,000

copper

Debit account 621

Have account 153

Diagram 2.7: General accounting diagram of Import - Export of Tools and Equipment


TK111 TK153 TK142 TK627


14,000,000

34,555,400

Account 133 28,000,000 28,000,000 14,000,000

3,141,400

31,414,000

Account 627

4,895,000 3,414,000 3,414,000

TK133 445,000


5,050,000

4,450,000 Account 621

TK331



5,050,000

5,050,000 5,050,000


Cao Minh Construction and Trading Company Limited

192 – Nguyen Thai Son – Go Vap District

Model No.: S11-DN

(Issued under Decision No. 15/2006/QD-BTC dated March 20, 2006 of the Minister of Finance)

SUMMARY TABLE OF IMPORT - EXPORT - INVENTORY OF TOOLS AND EQUIPMENT

Account: 153

2012



STT


Name of CCDC

Beginning balance

Enter in period

Export during the period

Ending balance

Number

quantity

Total amount

Number

quantity

Total amount

Number

quantity

Total amount

Number

quantity

Total amount

01

Machine

dress

1

28,000,000

1

28,000,000

1

28,000,000

1

28,000,000

02

Machine

pump

5

2,000,000

4

1,600,000

4

1,600,000

4

1,600,000

03

Hoe

30

240,000

15

120,000

20

160,000

25

200,000

04

Shovel

18

252,000

10

140,000

12

168,000

16

224,000

05

Fly

50

850,000

12

204,000

20

340,000

42

714,000

…

…

…

…

…

…

…

…

…

…


Add

x

85,250,000

x

12,445,000

x

73,232,000

X

24,463,000


The chartist

Chief Accountant

Manager

(Signature, full name)

(Signature, full name)

(Signature, full name)


(Source: Finance - Accounting Department of Cao Minh Construction - Trading Co., Ltd.)

In case of exporting tools and equipment with multiple allocations, the accountant will enter them into the tool and equipment allocation table.

Cao Minh Construction and Trading Company Limited

192 – Nguyen Thai Son – Go Vap District

Form No.: 38-DN

(Issued under Decision No. 15/2006/QD-BTC dated March 20, 2006 of the Minister of Finance)

TABLE OF ALLOCATION OF RAW MATERIALS, TOOLS AND EQUIPMENT

November 2012

Unit: Dong



STT

Credit the accounts


Subject of use (Debit accounts)

Account 153


Account 142

Account 242

Accounting price


Actual price

A

B

3

4

5

6


1

Account 154 – Cost of production and business in progress (Account 631 – Cost price)

manufacture)




14,000,000


2

Account 642 – Business management expenses





3

Account 142 – Short-term prepaid expenses


32,450,000



4

TK – 242 Long-term prepaid expenses





5

......






Add


32,450,000

14,000,000




The chartist

Chief Accountant

Manager

(Signature, full name)

(Signature, full name)

(Signature, full name)


(Source: Finance - Accounting Department of Cao Minh Construction - Trading Co., Ltd.)

CHAPTER 3: COMMENTS AND RECOMMENDATIONS ON ACCOUNTING FOR RAW MATERIALS, TOOLS AND EQUIPMENT AT CAO MINH CONSTRUCTION AND TRADING COMPANY LIMITED

3.1 General comments and assessments on the accounting work of materials and equipment at Cao Minh Construction and Trading Company Limited

3.1.1 General comments

The enterprise has organized and used well the cost item of raw materials and equipment, contributing to the goal of reducing the cost of the enterprise's products.

During the short time of researching and learning about the actual management of raw materials and tools at Cao Minh Construction - Trading Company Limited, I found that the management of raw materials and tools of the enterprise is relatively good. The enterprise has organized a specialized department for purchasing and monitoring materials management to ensure a balance between production plans, demand and supply capacity of materials.

Enterprises often import raw materials and construction materials from long-term partners, so they do not have to pay transportation costs. At the same time, transportation is always organized reasonably, avoiding negative impacts on product quality and saving costs.

Along with purchasing and monitoring the transportation of raw materials and supplies, the accounting department and warehouse keeper have coordinated smoothly in organizing the accounting of raw materials and supplies to ensure reasonable and economical use for the business, contributing to reducing costs in production and business.

3.1.2 Advantages

About the organization

- The company has built a compact and reasonable management apparatus because the company is small in scale, with a management staff of 8 people in the accounting, planning, and construction supervision departments... The above departments have effectively managed their work, contributing to effectively supporting the Board of Directors in organizing and supervising construction.

- The organization and application of accounting documents at the company are fully organized, the order of document circulation is reasonably built, ensuring the principles of clarity, speed and timeliness.

- The company's management system is increasingly perfect, the company has fully organized basic departments to create the foundation for future development. At the same time, it makes the company

The company's management is strict, the work of each department is clearly assigned, so each department is responsible for doing its job well. The management departments effectively support the board of directors in organizing and supervising the construction as well as other activities of the company. In this aspect, the role of the construction department and the quality management department can be mentioned. The construction department has completed its functions and tasks of implementing construction plans, ensuring the quality of the project and the construction progress in accordance with the contract delivery deadline. The quality management department always closely monitors the projects to ensure that labor safety regulations and construction processes are always followed in order to provide customers with the safest and highest quality construction products.

About staff

- A team of young, enthusiastic, qualified, skilled and highly professional accountants. Proficient in using computers and using them to get the necessary database to serve the management of raw materials in particular and all management software in general.

On applying computer accounting

- The application of machine accounting has helped the accounting work reduce the workload, simplify the process from processing documents into accounting books and making reports. Because when using machine accounting, the accountant only needs to enter information into the computer, and the steps of calculating data, entering detailed accounting books, general books and making reports are all done automatically by the computer accurately and quickly. Not only that, the application of machine accounting also allows accountants to review data, search or edit easily, allows printing of reports and books at any time to serve management requirements, helping managers make timely and accurate decisions .

On policies and regulations related to accounting for raw materials and fixed assets

- The company applies the General Journal accounting form which is suitable for the company's characteristics. This form is easy to record and ensures full and timely reflection of arising economic transactions.

With a large volume of raw materials and a wide variety of types, it is completely reasonable for the company to use the regular declaration method for accounting. This method allows the company to regularly and continuously monitor the fluctuations of raw materials and fixed assets, in order to take timely measures.

Regarding import and export procedures for raw materials and construction materials

- With a large volume of raw materials and diverse types, the company has taken many measures to strictly manage from the purchasing, storage, preservation and use stages. In the purchasing stage, the company has strictly regulated the procedures when importing materials. When importing raw materials and construction materials, there must be an inspection council with all relevant representatives, including a representative of the accounting department. Before testing raw materials and construction materials, the members of the inspection council must base on the approved prices and economic contracts signed between the two parties. With the procedures, it shows that the accounting work of raw materials and construction materials is strict, ensuring management requirements.

- The process of issuing and using raw materials and fixed assets must be approved by the request for use. After that, the material accountant is allowed to write a warehouse delivery note for raw materials and fixed assets of high value. As for raw materials and fixed assets of low value, these procedures are only done through the department. In general, it can be seen that the accounting work on import and export procedures is strict, reasonable, with links between functional departments, creating convenience for general and accurate monitoring of raw materials and fixed assets, providing timely information on import and export status.

- export - inventory of raw materials - construction materials.

3.1.3 Limitations

With a large amount of different materials, companies will more or less encounter difficulties in the process of monitoring and management. And due to a number of different reasons, accounting work still has certain limitations.

First: Regarding the use of the NVL - CCDC account system

Currently, the company has only opened account 152 but it is not really detailed for each type of material, the classification of materials is still too simple, the accountant has not separately monitored the current situation and fluctuations of each group of materials.

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