BA VI TRADING AND CONSTRUCTION JOINT STOCK COMPANY

ACCOUNTING INTERNSHIP REPORT COMPANY BA VI TRADING AND CONSTRUCTION JOINT STOCK COMPANY Table of Contents CHAPTER 1 GENERAL OVERVIEW OF VAN LOC LIQUEFIED GAS IMPORT EXPORT AND TRADING JOINT STOCK COMP.

ACCOUNTING INTERNSHIP REPORT

COMPANY: BA VI TRADING AND CONSTRUCTION

JOINT STOCK COMPANY

Table of Content

CHAPTER 1: GENERAL OVERVIEW OF VAN LOC LIQUEFIED GAS

IMPORT-EXPORT AND TRADING JOINT STOCK COMPANY 3

1.1 History of the establishment and development of Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company 3

1.2 Organizational situation of production and labor management of enterprises 11

1.3 The data about The company's financial position in the last 3 years 14

CHAPTER 2: CHARACTERISTICS OF ACCOUNTING ORGANIZATION AND ACCOUNTING SYSTEM IN VAN LOC LIQUEFIED GAS IMPORT-EXPORT AND TRADING JOINT STOCK COMPANY 16

2.1 Organizational characteristics of the accounting apparatus at the Company 16

2.1.1 Organization chart of the accounting apparatus 16

2.1.2 Accounting duties and functions 16

2.1.3 Relationship between accounting department and other departments 18

2.2 Characteristics of the accounting system at the Company 19

2.2.1 The applicable accounting policies are 19

2.2.1.1 Principles of recognition of cash and cash equivalents 19

2.2.1.2 Principles of recognition of trade and other receivables 20

2.2.1.3 Principles of inventory recognition 20

2.2.1.4 Principles of recognition and capitalization of other expenses 21

2.2.1.5 Principles of recognition and depreciation of fixed assets 21

2.2.1.6 Principles of recognition of trade and other payables 22

2.2.1.7 Principles of recognition of equity 22

2.2.1.8 Principles and methods of revenue recognition 22

2.2.1.9 Principles and methods of recording selling and administrative expenses 23

2.2.1.10 Principles and methods of recording current corporate income tax

expenses and deferred corporate income tax expenses 23

2.2.1.11 Other accounting principles and methods 24

2.2.2 Applicable accounting standards and regimes 24

2.2.3 Organization and application of accounting bookkeeping system 25

2.2.4 Organization and application of the accounting voucher system 26

2.2.5 Organization and application of the accounting system 27

2.2.6 Organization of the accounting reporting system 27

2.2.7 Organization of application of information technology in accounting work 27

2.3 Characteristics of some accounting cycles at the Company 28

2.3.1 Cash accounting 28

2.3.2 Payroll accounting and payroll deductions 34

CHAPTER 3: ASSESSMENT OF ACCOUNTING ORGANIZATION AND ACCOUNTING SYSTEM AT VAN LOC LIQUEFIED GAS IMPORT-EXPORT AND TRADING JOINT STOCK COMPANY 38

3.1 Assessment of accounting organization 38

3.1.1 Advantages 38

3.1.2 Disadvantages 40

3.2 Recommendations to the organization of accounting at Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company 40

CONCLUSION 42

List of figure and table

Figure 1.2 Business process of Van Loc Company 7

Figure 1.3 The diagram of the technology chain of Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company 8

Figure 1.4 Technological process of LPG extraction from tank to tank of the Company 9 Figure 1.5 Organizational structure of Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company 11

Figure 2.1 Organizational structure of accounting apparatus at Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company 16

Figure 2.2 Order of bookkeeping at the company 26

Figure 2.3 General accounting chart of capital in cash 29

Figure 2.4 Flow chart of cash receipt accounting vouchers 30

Figure 2.5 Flow chart of cash payment vouchers 31

Figure 2.6 Flow chart of accounting vouchers for collection of bank deposits 31

Figure 2.7 The flow chart of accounting vouchers for bank deposits 32

Figure 2.8 Sequence diagram of accounting book of cash capital 33

Figure 2.9 Sequence chart of salary accounting and salary deductions 35

Figure 2.10 Sequence diagram for recording salary accounting books and salary deductions 36

Figure 2.11 Flowchart of the circulation of salary accounting documents and salary deductions 37

Table 1-1 List of equipment systems of Van Loc Company 10

Vietnam has progressively become one of the world's fastest growing economiesafter a 30-year transition from a centrally planned, bureaucratic, and subsidizedeconomy to a market one In Asia, things are moving quickly Moreover, as aresult of rapid economic development, societal needs are expanding and constantlychanging As a result, in order to meet society's needs and keep up with theeconomy's growth trend, firms must constantly increase their ability to produce andprovide high-quality products Domestic firms will have to compete on a fairplaying field with many opportunities, but will also confront problems, particularlynow that our country has entered the World Trade Organization (WTO) Threatshave increased the level of competition Vietnam has steadily changed throughinstitutionalizing legal system institutions and establishing circumstances for allcompanies to integrate and compete in a competitive environment Vietnam'saccounting law system has been developing and perfecting for nearly two decades.The highlight is that Vietnam has enacted the Law on Accounting, whichestablishes a system of accounting and auditing standards that are compliant withinternational norms and widely recognized, encompassing the majority of businessoperations enterprises, providing circumstances for data openness; at the sametime, create a favorable investment climate, and gradually implement accountingintegration commitments in accordance with international treaties to whichVietnam has committed or acceded Vietnam has signed a Framework Agreement

on mutual recognition of accounting and auditing services among ASEANcountries ASEAN countries can mutually recognize accounting and auditingpractice certificates granted by other ASEAN countries, according to theFramework Agreement Because the level of countries in the region is still highlyvaried, the roadmap for implementing this Framework Agreement is implemented

in stages, beginning with each group of countries agreeing to recognize each otherand then progressively expanding to the entire region As a result, every businessmust adhere to the established standards and maintain appropriate honesty in allmaterial aspects in order to achieve maximum efficiency in its sector while alsogaining a competitive edge and position in today's market economy

Through an internship in accounting at Van Loc Liquefied Gas Import-Export &Trading Joint Stock Company, a company operating with nearly twenty years in

become one of the four largest suppliers of LPG products in the North of Vietnam,with a system of extraction stations, distribution systems, and thousands of agentsspread throughout the North - Central - South, with extensive experience andreputation for many years, I myself have had the opportunity to research andunderstand some of the real situations in the presentation of a financial statement,accounting systems or processes and components practice accounting at thecompany and learn more about the working style of the predecessors.

First and foremost, I would like to thank Dr Ha Thi Phuong Dung for guiding usthrough the accounting internship program and this report I'd also like to express

my gratitude to Van Loc Liquefied Gas Import-Export and Trading Joint StockCompany's Board of Directors, Administration Department, and personnel forsupplying paperwork and setting favorable conditions Please assist me incompleting my assignment

Accounting Internship report

Chapter 1: General overview of Van Loc Liquefied Gas Import-Export and

Trading Joint Stock Company

Chapter 2: Characteristics of accounting organization and accounting system at

Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company

Chapter 3: Assessment of accounting organization and accounting system at Van

Loc Liquefied Gas Import-Export and Trading Joint Stock Company

My internship report will invariably contain inaccuracies due to my limitedcapacity and lack of expertise As a result, I eagerly anticipate receiving teacherinstruction and assistance in correcting, learning from experience, and improving

my performance on the upcoming Internship Report

Sincerely,

Van

Pham Thanh Van

0102103491, which was first issued on December 7, 2006.

The company's major business activities, according to the business registrationlicense, are trade - importing and exporting liquefied petroleum gas, petroleumproducts (LPG), and trading in tanks, as well as leasing and sending services.Storage, transportation, and trading in petroleum and petrochemical products areall services provided by LPG

Charter capital as at 18/03/2019 according to business registration is:125.000.000.000 VND

The company's head office is located at: Lot CN4 - Nguyen Khe Industrial Park

- Nguyen Khe Commune - Dong Anh District - Hanoi City with the number ofemployees is 146

Total capital of the company as of December 31, 2020: 851.170.069.108 VND.Van Loc Company was founded to address the rising demand for natural gasamong Vietnam's industries in recent years, as well as to expand the construction

of the low-pressure gas network to meet the demand for gas among industry andresidential households

With nearly twenty years of operation in the field, it is now considered as VanLoc Gas Group and has risen to become one of the four largest LPG productsuppliers in the North of Vietnam, with a system of extraction stations, distribution

addition to the main business of liquefied petroleum gas, Van Loc LiquefiedPetroleum Export & Trading Joint Stock Company is also an authorized importer

of the following products: Liquefied Petroleum Gas; device; materials for oil andgas industry; metal has experience and reputation for many years To carry outthe policy: provide a stable, high-quality source of goods Van Loc Companyestablished cooperation relationships with the world's leading LPG supply groups,which are: E1 CORPORATION, ITOCHU, SINOPEC; SOJITZ CORPORATION;

… with the current import volume of 12,500 MT+/- 10% LPG/month

With the orientation of strongly developing the consumption system in rural andmountainous areas, penetrating the southern market In the past two years, theCompany established more companies (new filling stations in the provinces: HoaBinh; Vung Tau; Hung Yen; Thanh Hoa; Lao Cai; Thai Nguyen; Ha Nam,bringing the total number of filling stations to 17 stations), with many strongbrands becoming familiar to consumers such as: VAN LOC GAS; HOANG LONGGAS; PHUC THAI GAS; THIEN AN GAS; ĐAI LOC GAS; VAN LOC-SG;VAN LONG GAS; VAN LOC SAI GON; ĐAT VIET NINH BINH; TRUNGĐUC GAS; AN PHU HUNG GAS; PK GAS; ASIA GAS,… are already on themarket

In addition to the retail distribution system, the corporation serves as a focalpoint for selling items to companies that extract and extract outside of the system,

as well as supplying industrial gas to factories and industrial parks with a strongreputation and capability In terms of quality, pricing, and service, excellence is agiven

Financial capacity: With its existing reputation, diversified and high-valuecollateral system, along with the convincing feasibility of operating at its businesssystem, at present Van Loc Company is a large, reputable and reliable customer ofthe leading banks in Vietnam: VIETCOMBANK; BIDV; VIETINBANK;AGRIBANK; MB BANK, VPBANK The fact that Van Loc Company isguaranteed by the leading banks in Vietnam is the reason why in especiallydifficult times of liquidity in Vietnam's financial market, Van Loc Company stillcan open a letter of guarantee to import goods, enough to supply the system of 17affiliated companies and customers who buy slag

Transport capacity: The company has a fleet of specialized, qualified trucks with

a total capacity of 600MT/time, which is enough to meet the demand for LPGtransportation for the entire system and backup plans

Van Loc Company produces enough gas cylinders to supply cylinders for theentire system, constantly renewing and restoring old shells to ensure absolutesafety for consumers With 03 factories producing LPG tank covers of all kindswith modern technology, Van Loc Company produces enough gas cylinders tosupply cylinders for the entire system

Source: Van Loc Company's Facebook page

Figure 1.1: Some pictures of Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company

* Geographical, economic and human conditions of the study area:

The company's head office is located at Lot CN4 Nguyen Khe Industrial Park Nguyen Khe Commune - Dong Anh District, Hanoi City, located at the northerngateway of Hanoi capital, located in the industrial development planning area,urban centers, services have been approved by the Government and the City, is animportant traffic hub connecting Hanoi Capital with the Northern Provinces With

-an area of more th-an 7.92 square kilometers, the population density is 1,345people/km2 along with the climate conditions characterized by the Northernclimate, tropical monsoon climate, hot summer, heavy rain and cold winter, littlerain

And up to now, the number of people in Nguyen Khe commune has reached10,654 people This will not only be an abundant resource to create an openconsumer market for the company, but also an important resource to meet thecompany's ever-increasing labor demand Besides, with the activities, theemulation movement "Be good at domestic work, take care of housework"launched in recent years has shown the human resources here: "Good workers,good workers, innovative initiatives" creation”, and in 2019 alone, 80% of femaleemployees have won the title, and more than 563 workers have won the title ofgood worker, along with 973 households of employees Abundant and high-qualityhuman resources, associated with the continuous development of the economy herewill create favorable conditions and promote the development of the company

* Business process and system of filling stations serving the Company's business activities:

Company business process:

Van Loc Company is a legally created production and business unit whose coreactivity is trading, LPG circulation organization, LPG purchase at the point ofproduction, and LPG selling at the point of need in order to profit Despite the factthat the Company operates on a huge scale, its business process is fairlystraightforward, as shown in Figure 1.2 below

In order to determine the volume of LPG to be imported, the Company firstneeds to conduct market research both at home and abroad After determining theamount of LPG to be imported, the company will import LPG from abroad andpurchase domestic LPG, but importation is a very complicated form of purchaseand sale, which is different from the domestic trade Because of this difficulty and

complexity, when importing LPG, the company has followed the followingprocess: First, the Company Open a letter of credit (LC) at the bank about thepayment to the Exporter for the amount temporarily calculated according to thequantity of goods ordered, then the Company's bank will send the information tothe Exporter's bank export of letter of credit (LC) information The Exporter'sbank will notify the Exporter, and the Exporter will load the goods onto the shipand transport to the port for the Company, then the Company will import the goodsfrom the port to the Company's Dinh Vu Gas Warehouse in Hai Phong

LPG will be pumped into tank trucks and transferred to the Company's fillingstations after being imported into a tank warehouse at Dinh Vu port in Hai Phong.After that, LPG will be exported to 17 member companies, and the averagevolume of imported LPG per month was agreed at the meeting at the beginning ofthe year between the parent company and the member companies And on the 27th

of every month, the parent company will hold a meeting to announce the sellingprice and the member company to order the amount of LPG to be taken nextmonth Before the date of arrival to receive LPG, the member company will notifythe parent company of the quantity of 50 - 150 tons and the control plate of thetank truck, along with the information of the driver who concurrently receives thegoods and the member company will announce it on their own arrange vehiclesand means to pick up goods Next, the member company will bring the product tothe market for consumption Besides exporting to 17 member companies, Van LocCompany also sells directly to industrial parks and retail customers of thecompany

Source: Sales Department of Van Loc Company

Figure 1.2: Business process of Van Loc Company

Through learning about the company's business process, it can be seen that this

is a simple but specific, effective and flexible business process And although VanLoc Company is a trading company, but because the characteristics of LPG aredifferent from other commodities, to be able to do business, the Company needs tohave filling stations and the company's filling stations all have generally a fairlysimple technological process, and can be summarized as the diagram below

Market research

Import LPG to Dinh Vu

warehouse in Hai Phong

Transport to the filling

Source: Technical Department of Van Loc Company

Figure 1.3: The diagram of the technology chain of Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company

Inside:

- LPG storage and transportation system including tanks, pipeline system,pump, valve system,

- Bottle closing system including loading rods

- The air compressor system provides compressed air for the extractionprocess to ensure safety during operation

- Alarm system, responsible for alarming when there is an incident, includinggas leak detectors

- The fire fighting system is responsible for fighting fire when there is a fireincident, including equipment such as: fire extinguisher, water pump, waterpipe,

The technology line at the company's filling stations operates in two main steps:Importing LPG from tank trucks into tanks: LPG is imported into tanks fromtank trucks using a pump mounted on the tank truck The tank truck's liquid line isconnected to the tank's liquid inlet line, the tank truck's steam line is connected tothe tank's steam return line, after checking parameters such as pressure,temperature, and grounding, open the valve We engage the clutch to pump LPGinto the tank

Filling station

Compressor system system Alarm Firefighting system

Exporting LPG from the tank to the filling system: the process is done bypumping LPG from the tank through a series of valves to the pneumaticallycontrolled filling rods To ensure the safety of the system and ensure a stable gasflow, a return line is installed During the extraction operation, when the loadingrods operate unevenly, the internal pressure will increase rapidly, causing unsafephenomena for the system, then the return pipe will bring a part of the liquid to thetank to stabilize flow and pressure drop, ensuring the safety of the whole system.

Source: Technical Department of Van Loc Company

Figure 1.4: Technological process of LPG extraction from tank to tank of the Company

And also due to the special nature of LPG, the system of equipment for LPGfilling process must comply with predetermined standards When calculating for acertain plant, equipment must ensure capacity, meet technical requirements, safety,ease of operation as well as maintenance and repair

Check gas tank and

gas cylinder valve

At Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company, themain equipment system is as follows:

Table 1-1: List of equipment systems of Van Loc Company

Unit: VND

No

Quantit

1 LPG storage tank with

capacity of 3,000 m3/tank Unit 2

machinery, equipment and

related items leading gas to

the tank truck

stations and related items

for fire fighting

Syste

0

Source: Technical Department of Van Loc Company

In recent years, in order to meet the increasing demand for quality and LPGoutput year by year, the Company's technological equipment system has beenincreasingly expanded and gradually replaced the lost equipment to moderndevices Although some newly invested equipment has advanced and moderntechnology, higher productivity, less material consumption, good performance Butwhen damage occurs, these devices often have to wait because spare parts do notrespond in time, causing difficulties for repair work, affecting equipmentproductivity, and smoothness of the technology chain However, these modern

machinery and equipment still play an important role in the company'stechnological chain.

1.2 Organizational situation of production and labor management of enterprises:

In order to manage the business, production and services that are constantlyexpanding, Van Loc Import-Export and Business Joint Stock Company has alsoformed and gradually expanded the company's management apparatus according tothe direct model functional line and is represented by the following diagram:

Source: Administrative Department of Van Loc Company

Figure 1.5: Organizational structure of Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company

Board of Directors

Director general

Organization and Administration Department

Security room

Production Director –

Technical

Technical Department

Production workshop

Supplies Department

Chief Accountant

Accounting DepartmentControl

Board

Functions and duties of the departments:

Board of Directors: The Board of Directors is responsible for supervising the

General Director and other management departments The Chairman of the Board

of Directors cum General Director is Mr Phan Van Hung

General Director: is the person who manages all activities of the Company and

is responsible to the Board of Directors for the implementation of the assignedrights and duties

Board of Directors (directors of divisions and departments): is the person who

helps the General Director run the Company as assigned and authorized by theDirector, is responsible to the General Director for the assigned tasks andauthorize

Accounting Department: The Financial Accounting Department has the

function of advising and assisting the General Director in directing, managing andoperating economic and financial affairs and accounting; Promote and managefinancial investment, salary, bonus and other incomes or payments according toregimes and policies for employees

Technical Department: Performs the task of repairing, maintaining, ensuring the

technical condition of the equipment, taking full responsibility for communicationand security at the workplace Research and apply technology to the company'sproduction, improve product quality, diversify new products and products to meetthe needs of the market

Administration Department: Human resources, organization, recruitment,

training, and dispatch of personnel to serve production and business throughout thecompany as assigned by the director Administrative work, archives, care for thelife and health of employees throughout the company Carry out emulation,commendation and discipline work; deal with work related to the rights andobligations of employees in the company in accordance with the State's policiesand regulations and the company's regulations Formulate labor norms and wageunit prices on the basis of labor norms of each type of product, manage the salaryfund, develop and organize the implementation of regulations on salary and bonuspayment

Sales Department: Carrying out the task of importing and trading LPG on the

national market Develop and implement LPG business plans in each month,quarter and year Synthesize prices, statistics and analysis of LPG trading results ateach time of month, quarter and year Develop production and business plansaccording to each period of the company, and regulate production according to theestablished and approved production and business plans

Import-Export Department: Advise the company's sales director on import and

export, manage and organize the implementation of professional tasks according tothe development direction of the company's leaders and legal policies of thecompany Government Carrying out procedures for signing export and importcontracts according to the needs of the company Carry out customs procedures,documents of origin, organize delivery, hire ships and means of transport of importand export goods under the contract

Security room: Protecting security and order, political security, assets in the

company Performing fire prevention and fighting work and military work

Production workshop: Ensure the correct implementation of the assigned

production plan The production organization ensures absolute safety for peopleand equipment

The division of labor by function has created a labor structure that is relativelysuitable with the production and trade characteristics of the company Somedepartments are fully assigned according to the requirements and in thedepartments there is a specific assignment of tasks for each person, thus creating ahigh responsibility for the workforce Employees are assigned clear tasks, most ofthem adapt to the job Therefore, labor cooperation between functionaldepartments, between leaders and employees is carried out easily and effectively.With the characteristics of both manufacturing and trading enterprises, the laborstructure of the company has a large difference between the number of directemployees and indirect employees However, whether it is direct labor or indirectlabor, the company's labor source is always appreciated for its quality, with morethan 81% of employees having college, university, vocational intermediatedegrees, etc and nearly 18% of the remaining are unskilled workers And likeother businesses, Van Loc Liquefied Gas Import-Export and Trading Joint Stock

Company also has a labor regime in compliance with the Labor Code, regulated bythe State, with the number of working hours no more than 8 hours/day and 48hours/week, the company does not apply overtime, and fully participates in socialinsurance, health insurance, unemployment insurance and personal income taxes.

In addition, the company also provides employees with a stable income, with anaverage income of VND 4,493,697 per person per month, along with that, thecompany also develops a salary policy As a result, work efficiency has the effect

of stimulating and encouraging employees to emulate and work enthusiastically toincrease productivity, quality and efficiency There is a separate salary policy forgood employees, special positions with higher remuneration than ordinaryemployees to encourage talent, retain good employees and at the same time attracttalent from outside Develop regulations on reward according to work results foreach employee

1.3 The data about The company's financial position in the last 3 years:

In 3 years 2018, 2019, 2020 the company's financial situation has changed.Although the epidemic situation has partly affected the production and business ofthe company, it is still active to create products and bring profits to the company

In 2018, the company's profit after tax was VND 10.8 billion, but in 2019 therewas a slight decline due to the start of the Covid epidemic in some places, so thecompany's profit was VND 10.6 billion, and by 2020, the economy of mostbusinesses in Vietnam will decline, not only Van Loc company, it will decrease to6.6 billion VND (decreased by about 4 billion compared to 2019)

* Future direction of business development:

Development strategy from 2020 and orientation to 2025: Building VAN LOCGAS brand into Vietnam's strong brand in the field of liquefied petroleum gasbusiness, the leading LPG trading company in the region North in terms of scale,market, capital, cooperation ability, integration and competition in the country andregion; achieved an average growth rate of 12% per year in the period 2010 - 2015;and 17% annually in the period 2016 – 2020; to step up investment in construction

of technical infrastructure in the period of 2020 - 2025

Through the analysis of the situation and operating conditions of Van LocLiquefied Gas Import-Export and Trading Joint Stock Company, the difficulties

Advantages: The company's head office is located at Lot CN4 - Nguyen KheIndustrial Park - Nguyen Khe Commune - Dong Anh District, Hanoi City, located

in the planning area for industrial, urban and service development approved by theGovernment and approved by the City, is an important traffic hub connectingHanoi Capital with the Northern Provinces Having a convenient transportationsystem facilitates product consumption and reduces selling costs The company has

a team of experienced, skilled, creative and enthusiastic employees The company'sbusiness processes are streamlined and efficient, along with the company'stechnological lines that are advanced and in line with market trends Themanagement aspects of the Company are strict, but still ensure flexibility, inaccordance with the laws of the State Having created the prestige and position ofthe Company increasingly strong in the LPG trading market in the North

Difficulties: Vietnam's LPG market in the recent period has had a strongdevelopment Therefore, associated with the rapid development of Van LocCompany, in the past time the Company has faced stiffer competition fromcompetitors in the market, even in recent times, the Company has been facingfierce competition from competitors The company has suffered from unfaircompetition from competitors Besides, because it is a trading and importingcompany, its business activities are always directly affected by fluctuations in theeconomy, fluctuations in LPG prices globally in general and in Vietnam inparticular in recent times

In general, in recent years, despite facing many difficulties and facing stiffcompetition, Van Loc Company still fulfilled the assigned plan targets, profitableproduction and business and constantly improved improve the lives of employees.And this will be analyzed more clearly in the content of the next chapter

CHAPTER 2:

CHARACTERISTICS OF ACCOUNTING ORGANIZATION AND ACCOUNTING SYSTEM IN VAN LOC LIQUEFIED GAS IMPORT-EXPORT AND TRADING JOINT STOCK COMPANY

2.1 Organizational characteristics of the accounting apparatus at the Company:

2.1.1 Organization chart of the accounting apparatus:

The organizational structure of the accounting apparatus is shown in the modelbelow:

Source: Accounting Department of Van Loc Company

Figure 2.1: Organizational structure of accounting apparatus at Van Loc Liquefied Gas Import-Export and Trading Joint Stock Company

2.1.2 Accounting duties and functions:

Chief accountant:

- To be accountable for the company's financial accounting in front of the

Board of Directors, the Board of Directors, and the law

- All financial and accounting work in the company is directed, guided, and

inspected in accordance with current regulations

- Make financial and accounting decisions in the unit, prepare the

company's financial statements at the end of the fiscal year, and explain

Chief accountant

Sales

Accounting;

Statistical

Bank Accountant

Payroll Accounting;

Capital construction investment;

Price;

synthetic

Accounting payment; To pay debt;

Receivable

Material Accounting; Treasurer

are available Tax authorities, audits, superior management agencies, andother legal authorities' requirements.

Accounting payment:

- Daily revenue and expenditure updates are required for cash accounting

(with comparison with cashier) Prepare documents and payment lists incollaboration with Company employees

- Other payment accounting: Payables and advances are detailed.

- Follow up on customer debt, analyzing each customer's debt period on a

monthly basis

- Accounting for finished product warehouses: Keep track of the

Company's import - export - finished product inventory Productsimported into the warehouse must go through the KCS department toensure quality The warehouse receipt is signed by the head of the QualityAssurance Department, the storekeeper, the accountant, and the director.The warehouse is exported in three ways: consignment export, directexport, and retail export

Bank accountant:

- Accounting for bank deposits, as well as short- and long-term bank loans

(monitoring increase, decrease and daily balance on bank accounts)

- Contract guarantees must be made and followed up on Pay the L/C for

exports and open the L/C for imports

Material Accounting:

- Material and tool inventory is meticulously recorded Monitor and enter

the input - output - inventory of materials and tools every day Beforeimporting materials, conduct a supervision inspection (all signatures ofthe Security, Quality Assurance Department, and Storekeeper must be onthe import and export documents) Export materials based on the needs ofeach department, as certified by the department head Compare thestorekeeper's warehouse card at the end of the month Allocation oftooling costs is performed

General accounting of costs, prices, salaries, Construction:

- Synthesize accounting data based on accounting book data provided by

other departments, create general ledgers, monthly, quarterly, and annualsettlement reports, determine whether or not the targets are balanced, andreport to the chief accountant for the chief accountant to sign for approvaland submit to the director

- Gather production costs and perform cost calculation for products.

- Monthly, make a summary of the company's salary based on the labor

results of each production team (with details for each person, each day).Allocate salary and make salary-related deductions

- Follow-up capital investment in construction

Sales accounting – statistics:

- Check and make a list of book-keeping vouchers based on the sales

invoices of the offices and sales at the company on a monthly basis

- Declare VAT, synthesize declarations, and calculate the monthly VAT

payable

- In the comparison and inspection offices, keep an eye on the situation of

import and export warehouses

- Creating statistics and reports on the company's production and financial

performance

- Create detailed statistics on all costs of materials and raw materials used

during the period, as well as inventory raw materials and unfinishedproducts at the end of the month

- Calculating and allocating depreciation of fixed assets for the entire

Company on a quarterly basis During the period, the update in the fixedassets book increased (decreased)

2.1.3 Relationship between accounting department and other departments:

With the Director: Calculate the product cost using the cost calculation, thenreport to the Board of Directors on the profit and loss situation to adjust theproduction and business plan

The accounting department creates a report with the Deputy Director in charge

of construction and the Deputy Director in charge of business to report the cost ofusing materials, equipment, and expenses to use the construction machine the