Organization of Accounting Work at Transport Trading Joint Stock Company

Table 2.1: Organizational structure diagram of the management apparatus of the Transport Trading Joint Stock Company

General Director

Board of Directors

Accounting Department

Technical Department

Sales Department

Functions and duties of the departments:

.

*Board of Directors:

- Company Director: is responsible to the State and the collective of employees for the results of the entire Company's production and business activities. Manages the Company's activities according to the set plan. Responsible to the State and employees for managing all assets, labor, materials and capital, ensuring security and order and labor safety for the entire Company, doing a good job in internal and external affairs, constantly caring for the lives of employees.

- The Deputy Director is responsible for assisting the Director with assigned specialized tasks, fulfilling the task of advising the Director on production and business activities and issues within his/her scope of responsibility. Directing departments to properly implement the plan. Replacing the Director when absent when authorized.

*Functional rooms:

+ Sales department

Has the function of advising and assisting the company's board of directors, organizing the company's general business activities. Is the direct foreign affairs department to contact customers, research the market, communicate, and control vehicles to carry out reasonable transportation.

+ Accounting department

Responsible for financial and economic issues. Advise leaders on economic issues, perform statistics on obligations to the State, make production and business plans, and monitor the labor situation in the entire Company.

+ Room :

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2.1.3. Organization of accounting work at Transport Trading Joint Stock Company

2.1.3.1 Organization of accounting apparatus

Due to the characteristics of each company, the organizational structure of each company's accounting department is different. And to suit its circumstances, the Company has built an accounting department that suits the requirements and characteristics of its own company. The accounting department is reflected in the following diagram:

Diagram 2.2. Accounting system

Chief Accountant

Cash and receivables

client

Loan and tax accounting

Fund Accountant (Treasurer)

Chief Accountant:

.

.

Accountant :

.

Accountant :

.

Treasurer:

Cash receipt and payment vouchers are issued and received according to approved receipts and payment vouchers. Cash management and preservation. Prepare cash book and daily fund report, continuously record cash receipts and payments and calculate cash balance at all times. Responsible for cash balance in book and actual cash balance.

2.1.3.2 Organization of application of accounting voucher system

The Company performs accounting according to the account system and voucher regime in accordance with the regulations on the account system issued by the Ministry of Finance under Decision No. 48/2006/QD-BTC dated September 14, 2006 of the Minister of Finance.

2.1.3.3 Accounting regime applied at the Company

- The accounting year starts from January 1 and ends on December 31 of the same year.

- Currency used for recording is: Vietnamese Dong

- Depreciation method: Straight-line depreciation method

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2.1.3.4 Organization of accounting system and accounting form applied at the Company:

The company applies the accounting method in the form of General Journal to

Record economic transactions occurring during the fiscal year.

Usage books:

- General journal

- Detailed book TK131,112

- Ledger accounts 511,111,112,632,642,515,635,911....

- Detailed summary table of accounts 131,152

The sequence of entries in the general journal form is established according to diagram 2.3 (next page).

Financial report

General Journal

Detailed accounting books

General ledger account

SPS balance sheet

Diagram 2.3: Accounting sequence in the form of General Journal

Accounting documents

Detailed summary table

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Note : Record daily

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

- Daily accounting based on original documents recorded in general journal, detailed accounting card book. From general journal, accounting proceed to record in related ledgers.

- At the end of the year, from the ledger of related accounts, the accountant prepares a balance sheet of arising numbers. After closing the books and comparing the data between the books, the accountant bases on the data in the books to prepare the financial statements of the accounting year.

2.1.4.5Accounting reporting and analysis function

The company's financial statements are prepared at the end of each year. The Company's financial reporting system includes

- Balance sheet

- Balance sheet - Form B01- DNN

- Business performance report - Form B02 - DNN

- Financial statement explanation - Form B09 - DNN

In addition, the company also prepares other accounting reports as required by the state such as value added tax reports, corporate income tax reports... and according to the management requirements of the enterprise.

2.2. Current status of organization of revenue and cost accounting and determination of business results at the company

2.2.1. Accounting for sales revenue and service provision at Transport Trading Joint Stock Company

- Characteristics of the company's production and business: As a service business, the company's revenue mainly comes from providing service products such as road freight transport.

- The method of service provision at the company is multi-modal. Service provision contracts are signed between the service provider and the service recipient.

- Payment will be made by:

+ Immediate payment method: when the company provides services to customers, the company receives money immediately (cash, bank deposit...)

+ Late payment: When the company provides services to customers

The company has not yet collected the money, so the accountant must monitor the receivables through the detailed account book 131, the detailed summary book 131, and the general ledger 131.

Documents, books and accounts used

To account for sales revenue and VAT, accountants use the following accounts:

- Account 511: Service revenue

- Account 133: Deductible VAT

- Account 111, 112: Cash, bank deposits

- Account 131: Accounts receivable from customers

In consumption accounting, the initial documents used for accounting are:

• VAT invoice, receipt...

• Bank statement

• Other relevant documents (if any).

Detailed ledger used: Customer receivable detailed ledger

General ledgers: Ledgers of expense accounts, revenue accounts, and books tracking customer payment status.

• Accounting sequence

When accounting transactions arise, the accountant writes an invoice for the customer (VAT invoice).

• VAT invoice is made in 3 copies.

Copy 1: Purple, keep the original stub in the accounting department.

Copy 2: Red, given to customer as payment document.

Copy 3: Blue, used as a basis for sales and assigned to the accountant to record sales transactions.

• For receipts. When customers pay, the accountant makes 2 copies:

+ Copy 1: Stored in the accounting department as a basis for entering data into the linked books.

mandarin.

+ Copy 2: Deliver to customer.

Ledger account 511

Diagram 2.4: Revenue accounting process

VAT invoice

General Journal

Detailed accounting book account 131

Detailed summary table

Financial report

SPS balance sheet

Note: Daily note

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

Accounting process:

- Daily, based on VAT invoices, receipts... accountants record in the general journal, and at the same time record in the detailed account 131, from the general journal accountants record in the ledger related accounts such as accounts 111, 112, 511, 333...

At the end of the quarter and accounting year, based on the data in the detailed books, a detailed summary table is created. Before creating the balance sheet, the accountant must compare the data in the general ledger with the detailed summary table to check the accuracy of the data. Data from the balance sheet and summary table

Example 1:

Based on VAT invoice No. 0055174 dated December 14, 2012 regarding transportation for the Company and its subsidiaries.

related documents. Accountants record in related books according to the provision Debit account 131: 38,500,000

Credit account 511: 35,000,000 Credit account 3331: 3,500,000

From the above entry, the accountant records it in the general journal (form 2.2) and records it in detail account 131 (form 2.5) based on the general journal recorded in the general ledger.

TK511 (form 2.3) ledger TK131 (form 2.4) and ledger TK333

At the end of the quarter, based on the detailed account book TK131, prepare a summary table of customer receivables (form 2.6), from the general ledger of accounts, prepare a balance sheet of arising numbers. The detailed summary table and the balance sheet of arising numbers are used to prepare the financial statements.