5 SALES ACCOUNTING AND DETERMINING BUSINESS RESULTS IN VINATECH MECHANICAL TELECOMMUNICATION CO , LTD

ACADEMY OF FINANCE---GROUP: CQ55/51.06 GRADUATION THESIS TOPIC SALES ACCOUNTING AND DETERMINING BUSINESS RESULTS IN VINATECH MECHANICAL TELECOMMUNICATION CO., LTD Major : English for Fin

ACADEMY OF FINANCE -

GROUP: CQ55/51.06

GRADUATION THESIS

TOPIC

SALES ACCOUNTING AND DETERMINING BUSINESS RESULTS

IN VINATECH MECHANICAL TELECOMMUNICATION CO., LTD

Major : English for Finance and Accounting Student code : 17522202010165

Supervisor : MA TRUONG THI MINH HANH

Hanoi – 2021

I hereby declare that this thesis is a result of original work accomplished

by me under the guidance of M.A Truong Thi Minh Hanh I confirm that thework submitted is my own, except where work which has formed part ofjointly-authored publications has been included My contribution and those ofthe other authors to this work have been explicitly indicated below

Hanoi, May 25th,2020

Student

Hoang Thi Van Anh

ACKNOWLEDGEMENTS

I would like to thank my teacher, MA Truong Thi Minh Hanh, because without

herhearty support, all these lines would not have been written.

To Mr Ta Huy Khoi, director of VINATECH MECHANICALTELECOMMUNICATION CO., LTD for his enthusiasm cooperation, whichhelped me complete the internship at VINATECH MECHANICALTELECOMMUNICATION CO., LTD smoothly

To Mr Hoang Van Tuan and Mrs Nguyen Thi Minh Anh, who teach me awealth of specialized knowledge about Accounting activities at VINATECHMECHANICAL TELECOMMUNICATION CO., LTD

To all the respondents who kindly dedicated part of their time to complete thequestionnaires and interview

In the modern economic world, especially when the number of bankruptenterprises is rising, accounting for sales and business results has becomemore and more important to every company in general, and MechanicalTelecommucication in particular Therefore, I choose the topic "SALESACCOUNTING AND DETERMINING BUSINESS RESULTS IN VINATECHMECHANICAL TELECOMMUNICATION CO., LTD" for my graduation thesis Itwill point out the importance of having an effective accounting department forsales and business results The main content is reflected in three chapters Thefirst chapter is about the literature review for every company, mainly showingwhat accounts are involved in calculating business results, its definitions andaccounting entries In chapter 2, by taking a scenario in VINATECHMECHANICAL TELECOMMUNICATION CO., LTD , the thesis focuses in a realaccounting practice for sales and business results From that, chapter 3 showsthe company's strengths and weaknesses and suggests some solutions toimprove the current accounting system in VINATECH MECHANICALTELECOMMUNICATION CO., LTD In conclusion, the thesis has already beencomplete in comparison with proposed objectives and targets in theintroduction

TABLE OF CONTENTS

DECLARATION i

ACKNOWLEDGEMENTS ii

ABSTRACT iii

TABLE OF CONTENTS iv

LIST OF FIGURES AND TABLES vi

INTRODUCTION 1

CHAPTER I: LITERATURE REVIEW 4

1.1 General overview of sales accounting and determining business results 4

1.1.1 The concept of sales accounting and determining business results 4

1.1.2 The role and duties of sales accounting and determining business results 4

1.2 Definition of accounting and determining business results 5

1.2.1 The general principles and accounting standards that govern sales accounting and determining business results 5

1.2.2 Detailed accounting for researching objects 9

1.2.2.1 Cost of goods sold accounting 9

1.2.2.2 Sales revenue accounting 12

1.2.2.3 Accounting for revenue deductions 15

1.2.2.4 Cost accounting 18

1.2.2.5 : Determining business result 21

1.2.3 Books for sales accounting and Income summary 21

CHAPTER II: THE STUDY 23

2.1 The formation and development of Vinatech Telecommunication Mechanical Company Limited 23

2.1.1 The process of formation and development of Vinatech Telecommunication Mechanical Co., Ltd 23

2.1.2 Characteristics of Business Organization 25

2.1.3 Characteristics of organization and management at Vinatech Telecommunication Mechanical Company Limited 27

2.1.4 Characteristics of the accounting organization in the company 29

2.1.4.1 Characteristics of accounting system 29

2.1.4.2 Accounting policy at Vinatech Telecommunication Mechanical Company Limited 30

2.2 The actual situation of sales accounting and Income summary at Vinatech Telecommunication Mechanical Company Limited 31

2.2.1 The actual situation of revenue accounting 31

2.2.2.Current situation of general & administration expense accounting 35

2.2.3 Current situation of goods sold accounting 38

Recording method 39

2.2.4 Income summary accounting 40

2.3 Evaluating the current situation 42

CHAPTER III: RECOMMENDATIONS 45

3.1 Requirements, development principles 45

3.2 Development of sales accounting and income summary at Vinatech Telecommunication Mechanical Company Limited 46

CONCLUSIONS 50

REFERENCES 51

APPENDIX 52

LIST OF FIGURES AND TABLES

Diagram 1.1 Accounting the cost of goods sold 11

Diagram 1.2 Accounting the cost of goods sold 12

Diagram 1.3 Sales revenue accounting and provision of service 14

Diagram 1.4 Sales revenue accounting of agencies 15

Diagram 1.5.Sales return accounting 17

Diagram 1.6 Accounting the derived expenses which are related to sales return 17

Diagram 1.7 Devaluation of sale accounting 18

Diagram 1.8 Selling expenses accounting 19

Diagram 9 General & administration expenses accounting 20

Diagram 10 Characteristics of Vinatech Company 27

Diagram 11 Accounting System 30

Figure 1 VAT Invoice 33

Figure 2.VAT Invoice 34

Table 1 LABOR QUALIFICATION 26

Table 2 Subsidiary ledger of revenue 35

1 Rationable of the study

In a market economy, businesses that want to survive and develop must-havebusiness plans with economic efficiency To stand firm and thrive in fiercecompetition conditions, businesses must grasp and satisfy the psychology and needs

of consumers with high-quality products, low prices, stylish fashion designs, richand diverse in types To do so, businesses must supervise all processes frompurchasing to consumer goods to ensure the safety and fast speed of capitalturnover, maintain prestige with customers, fulfill obligations to the House Improvethe material and spiritual life of officials and employees, enterprises ensure profits

to accumulate and expand production and business development

Moreover, consumer demand in the current market requires businesses to generateprofitable revenue, businesses must produce what the market needs, not what theyhave, and set for themselves I have the question "What to produce for whom, how

to produce, and how much output? To achieve profit goals: To achieve highprofitability and safety in production and business activities, the company mustconduct synchronous management measures, in which accounting is an importantand indispensable tool to manage economic activities, check the use andmanagement of assets and goods to ensure dynamism Creativity, autonomy inproduction and business, calculation and determination of the efficiency of eachproduction and business activity as a basis for mapping businessstrategies. Therefore, in addition to general management measures, the rational

organization of sales accounting is essential to help businesses have timely andaccurate information to make correct business decisions Business enterprises withhigh economic efficiency are the basis of enterprises that can survive and growsteadily in a vibrant and fiercely competitive market economy.

Recognizing the importance of sales accounting using the theory learned at theschool combined with the reality obtained from the accounting work at Vinatech

Mechanical and Telecommunication Limited Liability Company, I chose the topic :

“Sales accounting and determining business results at Vinatech Mechanical and

Telecommunication Company " to research and transfer to your own

2 Aims of the study

The study is aimed at:

 Systematize some theoretical bases for sales accounting in commercialenterprises

 Assessing the current situation of sales accounting and determiningbusiness results at Vinatech Mechanical and Telecommunications Co., Ltd

 Propose some ideas to improve sales accounting and determine businessresults at Vinatech Telecommunication Engineering Co., Ltd.3 Scope of thestudy

3 Scope of the study

The study focuses on theoretical and practical issues of sales accounting anddetermining business results at Vinatech Mechanical and TelecommunicationCompany at 4th quarter of 2020 and suggestions to improve this activity

Based on these issues, the researchers will was done with the following questions:Question 1: How effective is sales accounting and determining business results

activities at Vinatech Mechanical and Telecommunications Co., Ltd currently?Question 2: What should be done to improve sales accounting and determiningbusiness results activities at ILT?

4 Methods of the study

To answer the research question, the researcher uses the following datacollection: To analyze in a timely manner the sales situation of the Company;need to approach the Sales Department, the Accounting Department to collectdata, synthesize information, compare actual data and clarify the research

problem Also refer to Circulars and Decisions of the Ministry of Finance formore information and analysis documents.

In addition, using the document research method : During the internship, I didresearch through books, newspapers, the Internet, and consult thedissertations of the previous siblings working on sales accounting At the sametime, collect documents related to sales operations in the last 6 months of 2020

at Vinatech Telecommunication Mechanical Co., Ltd

+ Documents and related account books

+ Financial statements for the year 2020

5 Organization of the study

Besides the INTRODUCTIONS, CONTENTS, CONCLUSION, REFERENCES,AND APPENDICES,the research paper is divided into 3 chapters::

CHAPTER 1: LITERATURE REVIEW , basic theoretical knowledge about salesand identifying business results accounting in enterprises

CHAPTER 2 : THE STUDY , current situation of sales and identifying businessresults accounting in Vinatech mechanical telecommunication Co., LTD

CHAPTER 3 : RECOMMENDATIONS , president about sales and identifyingbusiness results accounting in Vinatech mechanical telecommunication Co., LTD

CHAPTER I: LITERATURE REVIEW

The chapter focuses on discussing the literature review relating to the research topicand questions to be answered and elaborated It will present new approachdefinition of accounting and its characteristics, the classification of accounting, theroles of sale accounting and determining business results in the international

economy

1.1 General overview of sales accounting and determining business results

1.1.1 The concept of sales accounting and determining business results

Accountingng is the process of identifying, measuring, recording, andcommunicating an organization’s economic activities to users Users needinformation for decision making Internal users of accounting information work forthe organization and are responsible for planning, organizing, and operating theentity The area of accounting known as managerial accounting serves the decision-making needs of internal users External users do not work for the organization andinclude investors, creditors, labour unions, and customers Financial accounting isthe area of accounting that focuses on external reporting and meeting the needs ofexternal users This book addresses financial accounting Managerial accounting iscovered in other books. (Introduction to Financial Accounting - Henry Dauderis )

- Sale refer to ownership transfer of products or goods related to benefits or risks tocustomers and paid or accepted payment by the customer simultaneously Sale isfinal stage of the production - business process, the process of transforming capitalfrom the form of capital products, goods to monetary capital or capital in payment

In other words, selling is the transfer of products or goods to customers and thecustomer pays or accepts to pay for the business (Accounting Principles A Business Perspective - Roger H Hermanson )

- “Determining business results” the comparison between business expenses andbusiness income earned in the current period

1.1.2 The role and duties of sales accounting and determining business results

*The role of sales accounting and determining business results

Sales accounting and determining business results plays a very important rolenot only for businesses but also for the entire national economy For businessesthemselves, they can have income to compensate for the costs spent, haveconditions to expand business activities, improve the lives of workers, andcreate a source of savings for the foundation National Economy The accuratedetermination of business results is the basis for accurately determining theperformance of enterprises towards the State through the payment of taxes,fees and charges into the state budget, and determining cost structure.Reasonably and effectively using the collected profits, harmoniously solving theeconomic benefits: the State, the collective and the individual employees

* Requirement of sales accounting and determining business results

The requirement for the sales accountant is to strictly supervise the consumed goods

in all aspects: quantity, quality Avoid the prospect of loss, damage or wastefulembezzlement, check the reasonableness of expenses and correctly allocated to thecorrect sales to determine business results Must strictly manage the paymentsituation of customers, require payment in the right form and in time to avoid loss

of capital stagnation

1.2 Definition of accounting and determining business results

1.2.1 The general principles and accounting standards that govern sales accounting and determining business results

Accounting Standard No 01 "General standards"

The standard was promulgated and published in accordance with Decision No.165/2002/QD-BTC dated December 31, 2002 of the Minister of Finance

The standard reflects the general principles and accounting requirements andelements of the financial statements Enterprises must comply with a number ofregulations after implementing the sales accounting

All economic and financial transactions of enterprises which are related to assets,liabilities, owner's equity, revenue and expenses must be recorded in the accountbooks when they are derived and not based on the time of actual receipts andpayments of cash or cash equivalents Financial statement is prepared on an accrualthat reflect the enterprise's financial position in the past, present and future Theaccrual means the principle throughout the accounting process This principle isprepared by the cash basis principle

* Historical cost convention:

Assets must be recorded at cost The cost of an asset is calculated by the amount orcash equivalents paid, payable or fair value of such assets at the time the assets arerecognized The cost of assets is not changed unless otherwise specified in specificaccounting standards Thus, when applying the principle of cost, assets areevaluated on a cash basis or cash equivalent

* Matching concept:

Revenue and expense recognition must be consistent with each other Whenrecognizing a revenue, a corresponding expense must be recognized in relation tothe generation of that revenue Expenses corresponding to the revenue include thecosts of the period that generate the revenue and the expenses of the previousperiods or the expenses payable but related to the revenue of that period Thecorrect accounting according to the right principle helps enterprises determine andcorrectly evaluate the business performance of each accounting period, helpingmanagers to make correct and effective business decisions

 Prudence concept:

Caution is the consideration, consideration, and judgment necessary to makeaccounting estimates in uncertain conditions The precautionary principle requires:

• Must set up the provisions, but not too large

• Do not overestimate the value of assets and earnings

• Do not underestimate the value of liabilities and expenses

• Revenue and income are recognized only when there is a solid evidence of theability to obtain economic benefits, while expenses must be recognized when there

is evidence of the possibility of cost incurred Adhering to the principle of prudencewill help businesses preserve capital, limit risks and increase their ability to operatecontinuously.

Consistency:

The selected corporate accounting policies and methods must be appliedconsistently for at least an annual accounting period.And with sales accounting, too,because each method gives a different result, when selected Which method shouldthe accountant apply consistently in the accounting periods

In case of any change to the selected accounting policy and method, the reason andimpact of such change must be explained in the explanation of the financialstatements

Materiality concept

Information is considered material in the event that the information or itsinaccuracies could significantly falsify the financial statements, affecting theeconomic decisions of users of the financial statements Materiality depends onthe magnitude and nature of information or errors assessed in particularcircumstances The materiality of information must be considered bothquantitatively and qualitatively

Going concern

The financial statements must be prepared on the assumption that the enterprise isoperating continuously and will continue to do normal business in the near future,meaning that the enterprise has no intention and is not required to cease operations

or significantly narrowed the scale of their operations In case the reality differsfrom the continuous operation assumption, the financial statements must beprepared on a different basis and must explain the basis used to prepare the financialstatements

Accounting Standard No 02 “Inventory”

The standard was promulgated and published in accordance with Decision No.149/2001/QD-BTC dated December 31, 2001 of the Minister of Finance

Accounting Standard No 02 regulates and guides the principles and methods ofinventory accounting In order to define the value of inventories and goods soldaccurately, the relevant factors in the accounting process of sales and inventoriesmust be accurate, thus, it will be the basis for establishing the provision fordevaluation of inventories The calculation of the inventory value in salesaccounting will be applied one of the following methods:

 Specific Identification Method: According to this method, the goods sold for sale

belong to any time of purchase, the unit price of that purchase is used to determinethe value of the ex-warehousing goods

 Weighted average: According to this method, the value of each type of inventory

is calculated according to the average value of each similar inventory at thebeginning of the period and the value of each type of inventory purchased orproduced during the period The average value is calculated by period or every time

a shipment is imported, depending on the situation of the enterprise

 First In, First Out: This method will be applied on the assumption that

inventories were purchased first or produced first which will be "first out" and theremaining inventories at the end of the period will be purchased or producedinventory towards the end of the period Moreover, the value of the output will becalculated according to the price of the input at the beginning or towards thebeginning of the period, the value of the inventory will be calculated according tothe price of the inventory at the end of the period or towards the end of the periodthat are remaining inventories

Last In, First Out:

The advantage: This method means the cost of the latest purchase is relativelyclose to the cost price of the substitute goods The implementation of this methodwill guarantee the matching concept in accounting

The disadvantage: The cost price of inventory at the end of period may not beclose to the market price of the substitute goods

Accounting Standard No 14 "Other revenue and income"

The standard was promulgated and published in accordance with Decision No.149/2001/QD-BTC dated December 31, 2001 of the Minister of Finance.

According to Accounting Standard No 14 "Other revenue and income", salesrevenue is recorded in case the sales transaction meets regulated requirementssimultaneously:

The five requirements to record revenue:

• The enterprise has transferred substantially all the risks and rewards of ownership

of the product or goods to the buyer

• The enterprise no longer holds the right to manage the goods as the holder of thegoods or the right to control the goods

• Revenue can be measured with relative certainty

• The enterprise has received or will receive economic benefits from the saletransaction

• Identify expenses related to sales transactions

1.2.2 Detailed accounting for researching objects

1.2.2.1 Cost of goods sold accounting

* Definition

Cost of goods sold

*To define the cost of goods sold:

- In case finished products without input are sold immediately, the cost of goodssold will be the actual cost of production

- Finished products are output for sale, the actual cost of goods sold will be calculated

by one of the following methods: Weighted average, first in first out (FIFO ), specificidentification method

o Weighted average means the cost of finished products for sale would be based on

the quantity of output finished products and the weighted average of unit price(actual cost of production in average)

o First In, First Out (FIFO): This method is based on the assumption that the

inventory that is produced first is sold first, and that the inventory remaining at theend of the period is the inventory produced near the end of the period According to

this method, the value of inventories is calculated according to the price of goods instock at the beginning of the period or near the beginning of the period, the value ofinventories is calculated according to the price of goods in stock at the end of theperiod or near the end of the period inventory at the end of the period.

o Specific identification method means in case the finished product is output, it will

be based on the output quantity whether it belongs to the batch and the actual cost

of that batch in order to calculate the output value

*Applied account

To account thecost of goods sold:

Account 632 – Cost of goods sold

Account 154– Work in progress

Account 155– Finished product

Account 157 – Entrusted goods for sale

And other related accounts

(Financial Accounting- Academy of Finance)

*Accounting procedures

Diagram 1.1 Accounting the cost of goods sold

(Perpetual inventory)

ACCOUNT 154 ACCOUNT 632 Cost of goods sold bán ACCOUNT 911

Finished products are sold immediately without storing in warehouse Posting cost of goods sold and

expenses when defining income

summary ACCOUNT 155 ACCOUNT 157

Consigned goods are defined to be consumed

ACCOUNT 155 Finished products are sold

without storing in warehouse

Sales return for input Delivering finished products and goods for

sale ACCOUNT 138, 152, 153,

Inventory loss is recorded into cost of goods

sold Provision for devaluation of

inventories ACCOUNT 627

Unallocated general operation cost are

recorded to cost of goods sold in the

current period

Recording provision for devaluation of

inventories

ACCOUNT 632 Cost of goods sold ACCOUNT 911

Costs of input finished products

and completed service

At the end of the period, posting the cost of finished products in inventory at the end

of the period and the cost of consigned finished products and

services for sale

Posting cost of goods sold at the end of period

Provision for devaluation of inventories

Recording provision for devaluation of inventories

Diagram 1.2 Accounting the cost of goods sold

(Periodic inventory)

1.2.2.2 Sales revenue accounting

* Principle of sales revenue accounting

Definition of sales revenue

The revenue and the cost that generates that revenue must be recognizedsimultaneously according to the matching principle However, in some cases,the compliance principle may conflict with the principle of prudence inaccounting, the accountant must rely on the nature and accounting standards

At the beginning of the period,

posting the cost of finished goods in

stock at the beginning of the period

and the cost of consigned goods at

the beginning of the period

to honestly reflect the transaction , reasonable An economic contract caninclude many transactions The accountant must identify the transactions inorder to apply the revenue recognition conditions in accordance with the

provisions of VAS “Revenue” ( Sales and Leases: A Problem-based

Approach-Burnham và Juras)

The formula to define the sales revenue:

Sales revenue and

provision of service =

Sales revenueaccording to theinvoices

- Sales revenue

deductions

* Vouchers and accounts in use

Vouchers of sales revenue accounting

VAT invoice, standard invoice

Issue voucher

Sheet of agency, consignment payment

Counter sheet

List of sales agencies

Payment vouchers (Receipt voucher, subsidiary ledger, bank credit note, etc.)Other vouchers: Sheet of sales return …

To account sales revenue and provision of service, the accountant shall applyfollowing accounts:

ACCOUNT 511 – Sales revenue and provision of service

ACCOUNT 3331 – VAT payable

ACCOUNT 3387 – Unrealized revenue

And other related accounts (ACCOUNT 111, 112,131 …)

ACCOUNT 511 – Sales revenue and provision of service

ACCOUNT 3331 – VAT payable: This account will reflect the output VAT and thepayable input VAT VAT deductions, the paid and remaining VAT payable to theState budget

* Accounting procedures for a number of main operations

Sales revenue and provision of service

Posting

net revenue

ACCOUNT511Sales revenue and provision of

service

Output VAT

Procedures of sales revenue accounting and provision of service if enterprises calculate VAT by deduction method.

Diagram 1.3 Sales revenue accounting and provision of service

(Enterprises calculate VAT by deduction method)

Diagram 1.4 Sales revenue accounting of agencies

The method of selling at the fixed price to receive the commission

(Consignor)

Procedures of sales revenue accounting with deferred payment and installment payment

1.2.2.3 Accounting for revenue deductions

Commercial discount : used to reflect the amount of money that the enterprise hasdeducted or paid to the buyer for goods (products, goods) or services in a large

(1) Finished product output

(3) Revenue of agencies

ACCOUNT 641

ACCOUNT 133

ACCOUNT

333(1)

(4) Output VAT (if any)

(6) Input VAT is deductible

(if any) (5) Agency commission

632

amount under the commercial discount agreement stated in the economic contract.purchase or sale or undertaking to buy or sell

Definition: Commercial discount meaning the premium in the selling price

less than the list price in the enterprise which has been deducted for the buyerbecause the buyer has purchased goods and services in a wholesale according to thecommercial discount agreement stated in the economic contract

Applied accounts and procedures

+ Reflecting the actual commercial discount which generated in the current period Debit ACCOUNT 521- Commercial discount

Debit ACCOUNT 333 – VAT payable

Sales return means the sold products, goods or services which are returned by

the customer because of breach of economic contract, lost or out of specificationsValue of sales return = Number of sales return x unit price

If the enterprises receive the sales return, they will record as follows:

ACCOUNT 111,112 ACCOUNT 641

ACCOUNT 911

Derived expenses which are

related to sales return

Posting selling expenses

Diagram 1.5.Sales return accounting

Accountant will receive the products

Diagram 1.6 Accounting the derived expenses which are related to sales return

Devaluation of sale accounting

Pay to the buyer for the sales return

ACCOUNT 111,112 ACCOUNT 5213 ACCOUNT 511

Devaluation of sale

ACCOUNT 333(1)

Posting total sales discounts incurred in the current period

VAT (If any)

Diagram 1.7 Devaluation of sale accounting

Cost of tools

Fixed asset depreciation

ACCOUNT 133

*Accounting procedures for a number of main operations

Diagram 9 General & administration expenses accounting

ACCOUNT 6422– General & administration expenses

911 Depreciation of Fixed Assets

Expenses of gradual allocation, Accrued

Expenses

242, 335

214

Enterprise expenses 133

Reverting the variance between the unused provisions for bad receivables in the previous year and the amount has to

use for the current year

Reverting provision payable for corporate restructuring, onerous

contracts

Posting general & administration expenses

Provision payable for corporate restructuring, onerous contracts, other

provisions

Expenses for salaries, wages, allowances, social

insurance, health insurance, unemployment insurance, Trade Union fees, shift meal and other

deductions on salary

1.2.2.5 : Determining business result

Determining business result means a criterion reflecting the final result on the sales

of goods or services which expressed in profit or loss and is as follows: If the result

is positive (+), then it means profit and vice versa, if the result is negative (-), itmeans loss

* Method of income summary:

Net revenue = Sales revenue and

provision of service - Revenue deductions

Sales profit

-Selling expenses,General &administrationexpenses

*Applied accounts

Income summary accounting shall mainly apply the following accounts:

ACCOUNT 911: Income summary

ACCOUNT 632: Cost of goods sold

ACCOUNT 511: Sales revenue

ACCOUNT 642: General & administration expenses

1.2.3 Books for sales accounting and Income summary

a Subsidiary ledger

Accounting Journal of receipt, Accounting Journal of expense, Accounting Journal

of purchase, Accounting Journal of sales

Recording daily

Recording periodically or at the end of the month

Collation

CHAPTER II: THE STUDY

The chapter aims at evaluating sale accounting and determining businessresult activities efficiency at VINATECH by thoroughly collecting and analysingrelevant data from organisation In addition, it will also take a look at theVINATECH in the overview of the company and their infrastructure

2.1 The formation and development of Vinatech Telecommunication Mechanical Company Limited.

2.1.1 The process of formation and development of Vinatech

Telecommunication Mechanical Co., Ltd.

* Overview

- Company name: VINATECH TELECOMMUNICATION MECHANICALCOMPANY LIMITED

- Abbreviation: VINATECH MT.CO ,LTD

- Date of establishment: November 26, 2016 according to the business license No

0107 645 106 issued by the Department of Planning and Investment in Hanoi City

- Account No.: 02000 471 14366 at Sacombank – Thuong Tin Branch

Headquarters: Luu Xa Hamlet Quat Dong Commune Thuong Tin District Hanoi City

-Business fields:

Manufacturing and handling telecommunication equipment (main business)

Installing industrial machinery

Finishing construction works

Manufacturing all kinds of foundation steel and pillar, etc

Charter capital: 3,000,000,000 VND

Number of employees: 200 employees

Tax code: 0107 645 106

Phone: 024.6292.0838