General Overview of Tb 888 Trading Joint Stock Company.

1.2.5.5 Computerized accounting

Basic features of computerized accounting

The basic feature of computerized accounting is that accounting work is performed according to a computerized accounting software program. Accounting software is designed according to the principles of one of the four accounting forms or a combination of the accounting forms specified above. Accounting software does not fully display the accounting bookkeeping process, but must be able to print complete accounting books and financial reports according to regulations.

Computerized accounting has the following types of accounting books:

Accounting software designed according to a certain accounting form will have the types of books of that accounting form but not exactly the same as the handwritten accounting book model.

DOCUMENT

ACCOUNTANT

ACCOUNTING BOOKS

-Summary

-Detailed book

DIAGRAM 1.16 : ACCOUNTING BOOK RECORDING PROCEDURE ACCORDING TO COMPUTER ACCOUNTING FORM

ACCOUNTING SOFTWARE

COMPUTER

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-Financial report

-Management accounting report

SUMMARY OF ACCOUNTING DOCUMENTS

SAME KIND

Note:

Daily Record

Record at the end of the month, or periodically. Compare and check relationships.

CHAPTER 2

CURRENT STATUS OF COST AND REVENUE ACCOUNTING AND DETERMINATION OF BUSINESS RESULTS AT TB 888 TRADING JOINT STOCK COMPANY.

2.1 General overview of TB 888 Trading Joint Stock Company.

2.1.1 Formation and development process

TB 888 Trading Joint Stock Company was established on July 20, 2008 under the business registration certificate No. 0203002434 issued by the Hai Phong Department of Planning and Investment. The company is an enterprise in which members contribute capital and are only responsible for their debts and obligations to the company corresponding to the number of shares they contribute. All business activities of the company are regulated by the Enterprise Law, relevant provisions of the Law of the Socialist Republic of Vietnam and the company's charter. TB888 Trading Joint Stock Company is a company with full legal status, has its own seal for transactions, has an account opened at the bank and is autonomous in all its production and business activities.

-Company name written in Vietnamese: TM 888 TRADING JOINT STOCK COMPANY

- Company name written in foreign language:

VIET NAM EQUIPMENT & MACHINE JOINT STOCK COMPANY

- Business field: Trade

- Business lines: trading in sewing accessories, sewing and casting machinery and equipment.

- Head office address: No. 2A/177 Phuong Luu Street, Dong Hai Ward, Hai An District, Hai Phong City.

- Phone: 0313979251

- Tax code: 0200681116

- Bank account number: 24284269

- Open an account at Asia Commercial Bank.

- Form of capital ownership: Joint stock company - Shareholders contribute capital.

- Charter capital: 4,500,000,000 VND

Total shares: 450,000 shares

Par value of shares: 10,000 VND (Ten thousand Vietnamese Dong) - The company's general meeting of shareholders includes:

STT

Full name	Title
1	Dang Khac Tho	Chairman of the Board
2	Nguyen Ngoc Da	Founding shareholder
3	Doan Huy Giang	Founding shareholder

-Capital contribution ratio of the Company's founding shareholders:

1. Mr. Dang Khac Tho contributed 2,300,000,000 VND, accounting for 230,000 shares, equivalent to 51.12% of total charter capital.

2. Mr. Nguyen Ngoc Da contributed 1,100,000,000 VND, accounting for 110,000 shares, equivalent to 24.44% of total charter capital.

3. Mr. Doan Huy Giang contributed 1,100,000,000 VND, accounting for 110,000 shares, equivalent to 24.44% of total charter capital.

Since its establishment in 2008, TB 888 Trading Joint Stock Company has encountered many difficulties and challenges in production and business as well as in the management of a young staff. To stand firm in an increasingly competitive market economy, the company had to set up a business strategy to overcome the initial confusion and try to stabilize its business activities.

After many years of striving and learning, with a spirit of confidence, creativity, and proactively seizing opportunities, the company has now been developing strongly in terms of technical facilities, management level, and has a team of employees with political qualities, professional qualifications, high skills, and is trusted by customers.

In business activities, the company conducts economic accounting on the basis of compliance with policies, laws and regulations on management.

State and local economic management, respect and ensure the material and spiritual rights of employees in the unit and fulfill obligations to the state budget.

After many years of continuous efforts and endeavors, TB888 Trading Joint Stock Company has gained a solid position in the market. With effective business strategies, the company has gained many customers in Hai Phong and several other provinces across the country.

2.1.2 Characteristics of production and business

TB 888 Trading Joint Stock Company specializes in providing machinery, equipment for the casting industry, and sewing accessories to businesses. In addition, the company also carries out import and export activities.

2.1.3 Management structure

2.1.3.1 Organizational chart

BOARD OF DIRECTORS

VICE PRESIDENT

HR-Administration Department

SALES DEPARTMENT

ACCOUNTING DEPARTMENT

WAREHOUSE

Diagram 2.1 Organizational Structure

2.1.3.2 Functions and tasks of each department.

Board of Directors

The Board of Directors is the company's management body, with the right to decide on all matters related to the company's purposes and interests on behalf of the company, except for matters under the authority of the General Meeting of Shareholders.

The Board of Directors has the following rights and obligations:

-Decide on the company's development strategy.

-Recommend the type of shares and total number of shares that are allowed to be offered for sale.

type.

-Decision to offer new shares within the scope of authorized shares

offering of each type, deciding to raise additional capital in other forms.

-Decide on investment plan.

- Decide on market development, marketing and technology measures through sales contracts, loans and other valuable contracts with a value equal to or greater than 50% of the total value of assets recorded in the company's accounting books.

- Appoint, dismiss, remove the director and other important managers of the company, decide on the salary and other benefits of those managers.

-Decide on the structure, organization, management regulations of the company, establish subsidiaries, establish branches, representative offices and contribute capital to buy shares of the Enterprise.

-Recommend the level of dividends to be paid, decide on the time limit and procedures for paying dividends or handling losses arising during the business process.

-Decide on the offering price of shares and corporate bonds, and value contributed capital other than Vietnamese currency, freely transferable foreign currency, or gold.

-Decision to buy back no more than 10% of the sold shares of each type.

-Recommend reorganization or dissolution of the company.

-Other rights and duties as prescribed in the company charter and enterprise law.

Chairman of the Board/Director

The Board of Directors elects the Chairman of the Board of Directors from among the members of the Board of Directors. In TB888 Trading Joint Stock Company, the Chairman of the Board of Directors is also the Director of the company.

Rights and obligations of the chairman of the board of directors/director:

- Develop programs and plans of activities of the Board of Directors.

- Prepare agenda, content, documents for meetings, convene and chair Board of Directors meetings.

- Monitor the implementation of the board of directors' decisions.

- Chair of the shareholders' meeting.

- Decide on all matters related to the company's daily business operations.

- Organize the implementation of relevant decisions of the Board of Directors.

- Organize the implementation of the company's business plan and investment plan.

company

- Appoint, dismiss, remove management positions of the company,

except for positions appointed, dismissed or removed by the Board of Directors.

- Decide on salary and allowances for employees in the company.

- Other rights and obligations as prescribed by law, company charter and decisions of the Board of Directors.

Vice president

- On behalf of the director, handle authorized tasks when the director is away on business trips.

- Responsible for all assigned management activities.

- Check and review the assignment, salary payment and labor and salary organization.

Sales Department

- Assist the director in developing the most effective business strategies.

- Organize marketing activities to attract customers to the company, increase business efficiency.

Administrative and Personnel Department

- Assist the director in selecting excellent, experienced, dynamic and creative employees to work in the company, and manage personnel records working in the company.

Accounting Department

a) The role of the accounting department.

- Responsible for accounting for transactions arising from the company's daily business operations.

- Strictly and fully perform bookkeeping to submit relevant reports and budget payments according to state regulations.

- Use the collected financial information to provide to the director to make timely business decisions.

- Capital planning and capital creation for production and business activities.

b) Functions and duties of each member in the financial accounting department 1. Chief accountant

As the person who manages all the work of the accounting department, directly exploits arising economic transactions, signs and approves documents, reports before submitting to the director; at the same time, is responsible to the director for the financial situation of the company.

2.Treasurer

Directly manage the company's cash, all revenues and expenditures must be made within the company's regulations, cash fund and have documents. Fully, accurately and promptly update Revenue-Expenditure-Fund Balance in the Cash Book, report when necessary to the Director or Chief Accountant.

2.1.4 Organization of accounting work at TB 888 Trading Joint Stock Company

a) Applicable accounting regime:

The Company applies the Enterprise Accounting Regime according to Decision 48/2006/QD-BTC issued on September 14, 2006 by the Minister of Finance for small and medium enterprises.

b) Accounting period, currency used in accounting:

- Accounting period starts from January 1, 2012 and ends on December 31, 2012

- Currency used in accounting: Vietnamese Dong

* Inventory recording principle: At original price.

* Method of calculating inventory value: Weighted average of the entire inventory period.

* Inventory accounting method: Perpetual declaration method.

c) Form of organization of accounting system:

Currently, the company is applying the General Journal accounting form. The basic principle and characteristics of the General Journal accounting form are that all economic and financial transactions that arise must be recorded in the Journal, focusing on the General Journal, in chronological order and according to the economic content (accounting provisions) of that transaction. Then take the data from the Journals to record in the General Ledger according to each transaction that arises.

The general journal accounting form used by the company includes the following types of books:

- General Journal

- Ledger

- Detailed accounting books and cards.

d) The system of mandatory unified accounting documents includes:

-Types of invoices: Purchase invoices, sales invoices.

-Receipt, payment voucher

-Payroll table

e) The company's Financial Reporting System is prepared according to State regulations and includes the following 4 reporting forms:

-Balance Sheet MS B01-DNN

-Business Results Report MS B02-DNN

-Cash Flow Statement MS B03-DNN