Personnel Assessment Table 1.2: Personnel Situation

4.7. Comparison of theory and practice at the Company

In general, there is not much difference between theory and practice at the Company. The Company strictly complies with the standards and regulations of the State in all aspects of business activities in general and accounting for revenue, expenses and business results in particular.

Use account 154 "Cost of production and business in progress" in detail according to the management requirements of the enterprise. Divide into level 2 accounts such as account 1541 "Cost of raw materials", account 1542 "Cost of labor", account 1543 "Cost of tools, equipment and supplies for workers" account 1544 "Other costs" for management and accounting when arising during the period. At the end of the period, collect them to form the cost of goods sold account 632. In theory, the enterprise must account for the cost of raw materials in account 152 or account 156 to apply the weighted average warehouse delivery method.

Account 511 "Sales revenue and service provision" and Account 632 "Cost of goods sold" are opened in detail as Account 5112 "Service provision revenue" and Account 6322 "Cost of service provision" to distinguish them from sales revenue/cost of goods.

The Company has opened an additional ledger account 6423 "Advertising expenses" which is not included in the accounting system table according to Decision 48/2006/QD-BCT. To reflect in more detail the economic activities arising related to advertising expenses, hospitality, food, gasoline, etc. of the company. However, account 6423 is still accounted for according to the principles and regulations of the Ministry of Finance, similar to account 6421 "Sales expenses", account 6422 "Business management expenses". At the end of the period, account 6423 is combined with account 6422 to prepare financial statements.

Applying the General Journal accounting form (manually done by hand), but in reality, at the enterprise, accounting work is supported by data entry using Excel, Word on computers to create books, documents, financial reports, tax declarations, ... to shorten time, reduce pressure and work for accountants.

CHAPTER 5: COMMENTS AND RECOMMENDATIONS

5.1. Comments:

5.1.1. Comments on the company's operations

Education level	Number of employees (people)	Percentage
Master	1	3.33
University	6	20
College	11	36.67
Intermediate	6	20
General labor	6	20
Total	30	100

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5.1.1.1. Personnel assessment Table 1.2: Personnel situation

Advantage

- The company has achieved the results it has today thanks to the efforts of the entire board of directors as well as the staff of the company who have worked their best to serve the interests of the company.

- With a team of highly qualified and experienced staff, has contributed to the Company's growing development in the commercial market.

- Each employee in the company actively supports each other to complete assigned work well, is friendly and sociable, creating an effective working environment.

- The company has measures to improve professional expertise for accounting staff such as: participating in training courses, attending training sessions to update new circulars and decrees, improving professional skills, regularly exchanging experiences, etc.

- There is a reasonable division of tasks for each employee in the company. Each employee is assigned work that is appropriate to their abilities and experience, creating a positive and effective working environment.

Disadvantages

- The professional level of each employee is different, so the implementation and work efficiency are not very stable. Most of the employees are young and inexperienced.

- Although the Company's accounting team has high professional qualifications, the number is still lacking. One person has to undertake many different tasks, so some accounting tasks cannot be standardized.

- The relationship between departments is not yet close.

5.1.1.2. General assessment of the Company's operations

Advantage

Although the development has not been long, in general, the business situation of Tien Phat Electrical Engineering Company Limited is quite stable and has certain developments. With strong financial capacity and appropriate business strategy, the company is increasingly affirming its position in the commercial field in the market of trading electronic and telecommunications equipment and components.

Disadvantages

- There are many competitors in the market, which will make the market trading unstable, the price will decrease, making the revenue decrease as well. The higher the customer demand, the more difficult it is to meet it in the current market.

5.1.2. Comments on accounting work

Advantage

- Applying information technology to accounting management with high technology, reducing the workload of accounting, fully meeting useful information for the management requirements of the Company and other related subjects.

- The company's accounting system is organized according to a centralized model, so all books and documents are transferred to the company's accounting office smoothly and quickly, creating conditions for timely and accurate inspection.

- The accounts are classified in detail and fully, so the tracking of items and arising objects will also be detailed accordingly.

- The Company's accounting department is supported in a reasonable manner, assigning specific and clear tasks to a team of qualified, enthusiastic and honest accounting staff... which has effectively contributed to the accounting and financial management of the Company. The department has built a system of books, recording methods, accounting methods, and storing accounting documents in a reasonable and scientific manner, in accordance with the requirements and purposes of the accounting regime, and organized accounting work clearly and scientifically.

- The accounting department always promotes creativity and dynamism. Each member completes his/her field well and constantly learns from other fields to improve understanding.

- All arising economic transactions are promptly and accurately reflected by accountants in the accounting books, with consistency and consistency between the General Journal and the General Ledger. Accounting is always combined with timely checking and reconciliation measures to avoid errors.

- Revenue, expense and business performance accounting is an important task of the company, because it is related to determining results, income and contributions to the State Budget, and at the same time reflects the movement of assets, capital, etc. in circulation. On that basis, revenue, expense and business performance accounting, in addition to providing information to functional management agencies such as tax authorities, banks, statistics offices, etc., must also provide sufficient information to leaders, helping the Board of Directors make decisions on business activities, product consumption and market capture strategies in a timely, correct and effective manner.

- The company's revenue and expense accounts are divided into detailed level 2 accounts to help accountants easily track arising expenses. The process of checking and monitoring these expenses directly affects the company's profits.

Disadvantages

- Regarding accounting books: All transactions are reflected in the General Journal, so the volume of records is very large, which can make it difficult to track. This leads to errors that may occur.

- The company is equipped with a computer system but has not used accounting software yet. Accountants only work on Excel and Word. Accounting work is done both manually and by computer, so sometimes there is overlap in some stages.

- Accountants are still in their early years of employment, so their experience in the profession is limited. In case of unexpected problems, they cannot be resolved quickly.

- Working with numbers always puts accountants in a state of stress, especially when it is the most important part of accounting.

- Every day, accountants are faced with a large amount of economic and financial information and must focus on processing a series of transactions accurately and reasonably.

5.2. Recommendations

5.2.1. Recommendations on accounting work

- Principles of perfection in accounting for revenue, expenses and business results.

+ Appropriate principle.

+ Feasibility principle.

+ Principle of efficiency

- Completion required

+ Provide information on revenue, expenses and business results honestly, objectively, promptly, accurately, clearly, transparently and easily understood.

+ Ensure savings, practical feasibility.

+ There must be strict inspection and handling regulations. The chief accountant must be highly qualified and knowledgeable in many fields to do a good job of accounting and prepare financial reports scientifically, suitable for many subjects. In addition, the company's leaders must also be knowledgeable about accounting to inspect and monitor.

- Debt collection needs to be improved to reduce the amount of money being appropriated by the enterprise. There needs to be specific and strict strategies in payment, but it is necessary to ensure 2 principles: the company's interests are not violated and customers are not lost. In December 2015, the debt incurred reached 610,912,253 VND, at the end of the month the amount of debt to be collected was 479,022,785 VND, especially Training and Consulting Joint Stock Company

Nam A Construction Design still owes 355,192,323 VND. Even though they are loyal and long-term customers, there should be a reasonable way to collect debt. Debt should not be high to avoid business risks.

- Accounting with the support of Excel spreadsheets, although saving time, sometimes there are still mistakes in data, errors in formulas,... causing many unnecessary errors. Therefore, the company should apply computer accounting software to help accountants account more accurately, automatically calculate and perform transfer entries while ensuring timeliness and efficiency.

5.2.2. Other recommendations

On the state side

- Build a complete, clear, highly mandatory legal system with strict regulations, with reward policies for good businesses and measures to handle businesses that violate the law.

- The government needs to have preferential policies for small and medium-sized enterprises. Pay more attention to the economic situation.

On the company side:

- The board of directors needs to closely monitor and control accounting work.

- The company should pay attention to creating conditions for employees to improve their professional skills. Organize vacations and collective activities to enhance solidarity and reduce stress at work.

- Invest in additional equipment, machinery, ... for accounting work.

- Enhance the sense of self-awareness and responsibility of accounting staff with benefits appropriate to their abilities so that they can work together to build the company.

5.3. Lessons learned from the internship

After 4 years of studying at Ho Chi Minh City University of Technology, each individual has accumulated a certain amount of knowledge, however, without a practical internship environment at a business to apply the theories learned, the best results will not be achieved.

Especially for students of accounting faculty, majoring in financial accounting, if they do not have the opportunity to practice performing actual business operations, they will encounter many difficulties in their future work.

Therefore, the 2-month graduation internship is a good opportunity for each student to get in touch with and familiarize themselves with the actual working environment. Moreover, students have the opportunity to apply the knowledge they have learned at school to practical work, gain more experience, supplement shortcomings and contribute to perfecting the skills they have learned at university in recent years. After the graduation internship, each student will have professional skills and clearer directions about their future work. These are very important initial steps, helping students not to be confused or bewildered by new jobs.

Interning at Tien Phat Electrical Engineering Co., Ltd. with a professional working environment and enthusiastic guidance from everyone, I had the opportunity to practice the knowledge I learned at school and approach many areas of work that are extremely useful for my future work. With the help of the internship instructor through comments on the report, I can know what I have achieved and what I still lack. From there, I realize and supplement the missing skills and knowledge to contribute to perfecting myself.

At Tien Phat Electrical Engineering Co., Ltd., in a professional, practical and serious working environment, I have developed my working style and communication skills in the workplace as well as trained myself to follow the Company's own regulations. When assigned tasks, I try to do them well, have a sense of responsibility for the work and actively learn from my colleagues in the company, asking them to guide me on things I still have questions about or have not yet understood. Thanks to that, I can avoid encountering

difficulties, errors in assigned work.

In the environment of communicating with employees in the organization, I personally find that being cheerful, friendly, quick and enthusiastic is extremely important, helping to create a harmonious and friendly atmosphere between people, creating conditions for work to be carried out better and more easily.

This is the time when I learned the profession from reality and understood more clearly the work that I would do after leaving the university in general and the practical work of revenue, cost and business accounting in particular. Always being proactive and trying to learn helped me receive invaluable vocational lessons from reality. Lessons beyond the curriculum, beyond what I had thought helped me become more mature in perceiving, considering and solving problems.

Internship is not only a time to learn but also an opportunity to demonstrate your abilities. Opportunities will always come to those who try and are truly dedicated to their work, so if during the internship you take the time to learn, work, and learn a trade seriously and receptively, you will certainly have new opportunities. It could be a career opportunity, an opportunity to develop in the future or simply an opportunity to learn in a good environment. Or a job offer right after graduation.

The lessons accumulated gradually after the internship will become valuable assets and luggage for you to confidently leave university to truly pursue your chosen career.