INTERNSHIP REPORT THANH SEN CONTRUCTION CONSULTING JOINT STOCK COMPANY INTERNSHIP REPORT THANH SEN CONTRUCTION CONSULTING JOINT STOCK COMPANY INTERNSHIP REPORT THANH SEN CONTRUCTION CONSULTING JOINT STOCK COMPANY INTERNSHIP REPORT THANH SEN CONTRUCTION CONSULTING JOINT STOCK COMPANY INTERNSHIP REPORT THANH SEN CONTRUCTION CONSULTING JOINT STOCK COMPANY INTERNSHIP REPORT THANH SEN CONTRUCTION CONSULTING JOINT STOCK COMPANY
Introduction
Thanh Sen Construction And Consulting Joint Stock Company has tax code
3000344824 represented by Mr / B Duong Dinh Dung, granted business registration certificate on October 18, 2004 As a company known for its main business lines of
Our company specializes in architectural activities and related technical consulting, continuously listening to and incorporating feedback from customers and partners to foster growth We operate with a professional and efficient team, supported by a qualified accounting department and a scientifically structured workflow to ensure high-quality service delivery.
The reason for choosing the topic
In Vietnam’s rapidly growing economy, numerous consulting and construction firms operate within a competitive market landscape managed by the State, exposing businesses to various risks Cash accounting plays a vital role in ensuring financial management through systematic tracking of receipts and expenditures A cash accountant oversees all fund-related activities, including collection, spending, and stock management, to maintain smooth cash flow for internal operations and projects The financial strength and potential of a business are reflected in cash holdings and payment processes, fostering trust with partners and investors For companies like Thanh Sen Construction and Consulting Joint Stock Company, effective cash accounting is crucial for business success and stability During my internship, I observed that cash accounting is essential and requires careful attention, which prompted me to focus on this topic for further exploration.
"cash Accounting at Thanh Sen Construction and Consulting Joint Stock Company" as the topic for my internship report.
Overview of Thanh Sen construction consulting Joint stock company 1.1 The process of formation and development
Organizational and managerial characteristics of the unit
Part 2: Cash Accounting at Thanh Sen construction consulting joint stock company.
2.1 Organization of Accounting department at Thanh Sen Company.
2.2 Accounting for cash at the company Thanh Sen.
Part 3 : Overall assessment of Accounting, finance and auditing of Thanh Sen construction consulting joint stock company.
III.1 General assessment of the unit's Accounting work.
III.2 General assessment of economic analysis.
Part 1 : Overview of Thanh Sen construction consulting Joint stock company. 1.1 The process of formation and development :
Company's name: Thanh Sen Construction And Consulting Joint Stock Company
Operation status: In operation (have been granted the registration certificate)
Registrar place: Ha Tinh City Tax Department
AdDebitess: 2nd floor, number 02, Vu Quang street, Tran Phu ward, Ha Tinh city, Ha Tinh province
Legal representative: Duong Dinh Dung
Thanh Sen Construction and Consulting Joint Stock Company is a joint stock company established in 2004 First registered on September 29, registered for the 10th time on August
18, 2021 With total registered capital 50,000,000,000, par value per share: 10,000 VND/share Mr Duong Dinh Dung is the legal representative and the director of the company There are also two shareholders, Ms Le Thi Xoan and Ms Doan Thi Khai The company has a total of 5,000,000 shares During 17 years of establishment, from a young company, without much professionalism, only dared to accept small and odd scale projects. Thanh Sen Company has developed two more branches in Hanoi and Ho Chi Minh City The company has built trust and reputation with partners and customers.
1.2 Characteristics of production and business activities of Thanh Sen company 1.2.1 Functions and duties of company Thanh Sen :
Thanh Sen Construction and Consulting Joint Stock Company is a company whose main business is "architectural activities and related technical consulting".
+ Design consultancy, supervision consultancy, formulation of investment projects for civil, industrial, traffic, agricultural and rural development, urban and rural infrastructure engineering;
+ Consulting on topographic and geological survey;
+ Consulting on urban and rural construction planning.
+ Construction and installation of civil, industrial, traffic, agricultural and rural development projects, stations and power lines of 35 kV or less;
+ Building houses to live in; non-residential house; construction road; electricity; water supply and Debitainage; Water; other civil engineering works; telecommunications and communication works; other public works
+ Project management consulting, bidding consultancy;
+ Testing soil mechanics, building materials;
+ Verification of technical designs, construction Debitawing designs, cost estimates, total cost estimates of civil, industrial, traffic, agricultural and rural development works, technical infrastructure works;
1.2.3 Business process characteristics of the company Thanh sen
Contractors perform construction contracts when signing with customers after winning or being appointed.
Construction contractors construct works with specific and detailed specifications and standards specified in the approved technical design documents.
Value projects can be set up for each company, the volume is fully built
Cost calculation period according to the method agreed upon between the contractor and the customer in the construction contract
Fixed products are built at the production site
Contractors can organize more construction and production departments
Contractors execute construction contracts with clients after securing their appointment or winning projects, establishing a clear agreement on payment terms, project scope, and conditions The contract details the transfer of work items and responsibilities, ensuring both parties understand their obligations The process involves delivering the completed work, creating a final built product that meets the specified requirements Clear contractual agreements help prevent disputes and ensure smooth project execution.
In construction, the special feature of construction works is that technical standards have been specified and detailed in the approved technical design documents The contractor must be responsible before the goods for the technique and quality of the works The contractor must have a technical and quality inspection department to perform the technical and quality management of the works according to the approved design to ensure long-term
Built products encompass works, architectures, and structures that rely on large models, collective configuration, and long-term development Their value is determined by each project's scope, company items, volume of completed construction, and construction deadlines, which are often unpredictable These projects are managed similarly to industrial production units, with construction timelines and payment methods agreed upon between contractors and clients Once completed, these works function as ready-made goods, ready for delivery and use.
Fixed products are manufactured at the production site, requiring the transportation of essential conditions such as machinery, equipment, and labor to a public location The quality of construction work is influenced by weather and climate conditions specific to each area Contractors must prioritize effective construction techniques, ensure timely progress, and oversee management and transfer processes Additionally, they are responsible for the proper use of construction properties and providing consulting services related to construction works.
In construction companies, in addition to the main construction department that executes contracts signed with customers, other production departments can be organized such as: sub-construction department, auxiliary production for construction servers. operations and increase business income.
1.3 Organizational and managerial characteristics of the unit.
Figure 1.1 Organization chart of Thanh Sen Company
1.3.2 Duties and functions of departments.
The Director, authorized as the legal representative of the Company, is responsible for overseeing all operating activities in compliance with the Law and Corporation’s regulations They oversee organizational management, human resources, and employee emulation, rewards, and discipline, ensuring smooth and lawful company operations.
Office suppli es and equip ment
The administrative department is a vital component of any organization, responsible for managing all administrative processes and procedures efficiently It oversees and supervises employee activities to ensure smooth operational workflow Additionally, the department provides essential legal guidance to the Board of Directors, supporting informed decision-making and compliance.
Proposing, developing programs and plans to manage the annual activities of the enterprise.
Directing the implementation of operational plans, monitoring and supervising the implementation of signed contracts and acceptance of completed results.
Advise and advise on processes and standards and support construction, economic management, reward and discipline.
Manage, monitor and check the assets of the business.
Manage technical and technology related issues in projects or production plans of the enterprise.
Management, maintenance and repair of machinery and equipment systems of the enterprise.
Accounting for the income and expenditure of the enterprise: capital, revenue, expenses, liabilities, fixed assets (tools, tools, raw materials ).
Participate in managing the company's lending activities and financial investments to optimize returns and ensure strategic growth Provide valuable insights and recommendations to the Board of Directors regarding the development, inspection, and supervision of internal financial policies, ensuring compliance with both corporate and state regulations Monitor and ensure that financial consumption plans are executed on schedule, aiming to maximize efficiency and overall financial performance.
Comply with all financial reports and statistical plans as prescribed.
Report business results to management.
Preserving the quality of materials
Managing the stock of supplies in the warehouse
Manage the supply and use of materials.
Conduct market survey, prepare work report.
Carry out the design from the information obtained to create the best image for the product.
Submit Debitafts to the department manager for comments and edit designs as needed.
Complete your design and submit it on time.
Has the function of performing experiments, providing data and experimental results:
Serving the research, survey, design, construction, quality acceptance of materials and works.
Serving for quality inspection of building materials and construction components.
Serving for geotechnical testing, pile quality inspection.
Construction and decision making of all works and work items under the contract assigned by the Company; participate in the acceptance test of the implementation;
Manage, maintain and use specialized vehicles, working tools, raw materials for work safely and effectively;
Proposing economic and technical norms, materials and tools related to the Team's tasks;
Receive and distribute labor protection and labor tools to workers within the norm;
Make recommendations and suggestions to express design ideas into visual images
Managing and organizing the implementation of design work
Communicate and provide clear and complete design project information.
SWOT in Consulting and Construction Joint Stock Thanh Sen Company
Strengths
- Business lines: Design consultancy, supervision consultancy, formulation of investment projects for civil, industrial, traffic, irrigation, urban and rural infrastructure engineering; - Consulting on topographic and geological survey; - Consulting on urban and rural construction planning; - Project management consulting, bidding consultancy; - Testing soil mechanics, building materials; - Quality inspection and certification; - Verification of technical design, construction Debitawing design, cost estimate, total cost estimate of civil, industrial, traffic and irrigation works Technical infrastructure works - Consulting on setting up investment projects, surveying, designing construction, consulting and supervising construction works of lines and substations of 35kv or less.
Our construction company offers competitive pricing by providing affordable rates suitable for all customers, despite operating in a highly competitive industry with larger rivals We ensure the best value by importing high-quality materials, machinery, and equipment directly from suppliers without intermediaries, which allows us to maintain reasonable and often cheaper prices than our competitors This combination of cost-effective solutions and quality products underscores our commitment to delivering exceptional value to our clients.
- Potential market: The area of operation of Thanh Sen Construction Consulting
Joint Stock Companies are widely established across the country, particularly in major cities like Hanoi and Ho Chi Minh City, which are characterized by rapid growth The strong development in these urban centers drives a substantial demand for construction and infrastructure projects This high market demand provides significant opportunities for companies in this sector to expand and thrive, emphasizing their key strengths in meeting the needs of a booming economy.
- Human Resources: The company's human resources are talented people, the young
Weaknesses
The company primarily imports and trades raw materials and equipment for the construction industry from overseas, which limits its supply sources and challenges its ability to consistently meet market demand.
Opportunity
The construction industry benefits from numerous government policies that foster its development, creating significant growth opportunities Notable policies include Decree No 188/2013/ND-CP on social housing development and management, the Law on Housing 2014, and Decree No 100/2015/ND-CP which further supports social housing efforts Additionally, Circular No 02/2013/TT-BXD guides the adjustment of apartment structures in commercial housing and urban projects, while Circular No 11/2013/TT-NHNN addresses regulations for housing conversion and related works These policies collectively pave the way for a thriving construction sector, benefiting companies like Thanh Sen Construction and Consulting Joint Stock Company.
15, 2013 and Circular No 32/2014/TT-NHNN dated November 18, 2014 of the State Bank ofVietnam providing for housing loans under Resolution 02/NQ-CP dated January 7, 2013 andResolution No 61/NQ-CP dated August 21, 2014 of the Government
Vietnam's rapidly developing urban areas are experiencing a surge in demand for infrastructure and housing development, highlighting a significant market potential Additionally, small and medium-sized cities and towns across the country present substantial opportunities for construction and urban development, making Vietnam an attractive market for growth and investment.
Cash Accounting at Thanh Sen construction consulting joint stock company
Overall assessment of accounting, finance and auditing of Thanh Sen
General assessment of the unit's accounting work
- The accounting method is suitable with the production and business characteristics of the Company.
The organization of the accounting department is streamlined, with highly trained professionals possessing extensive experience and advanced qualifications Their in-depth understanding of accounting processes ensures that all economic transactions are accurately and comprehensively recorded, providing an up-to-date reflection of the company's financial fluctuations.
Our company's human resources team is highly skilled, with most employees having completed specialized training schools, and managers enhancing their expertise through management education Additionally, workers have undergone comprehensive training courses to develop certified professional skills This extensive training ensures that both staff and workers consistently complete tasks on time, maintaining the company's operations' efficiency and reliability.
- About the voucher system: In order to perform well the set tasks, the accounting department in the Company has built a relatively complete and reasonable system of vouchers to ensure that the accounting information is reflected accurately and in accordance with the provisions of the current financial accounting regime The process of making and circulating documents is also relatively reasonable, following the correct procedures to ensure the legal suitability for arising transactions.
- About the user account: The account used to track receivables and payables is scientifically and easily understood, suitable for the payment objects of the Company.
- Regarding the compliance with accounting principles and processes: The accounting is done daily, the accounting information is updated accurately from the vouchers of the arising transactions The accounting method is applied flexibly.
- Regarding books to use: Accounting books are fully and scientifically reflected and recorded Each arising economic transaction is carefully checked by the accountant before entering the book.
- The updating of vouchers is done daily, however, this principle is only applied to vouchers of large value, and for small values, the accountant usually accumulates them to the end of the new period import This will affect the timeliness and accuracy of information provision and make it difficult to overcome problems.
- Regarding policies for employees in the Company: The vast majority of workers have not yet paid insurance according to the correct regime, including those who have been in the Company for a long time or have just joined the Company, which makes many people unhappy workers do not feel secure to work or only determine to work temporarily, affecting the work progress.
The company currently lacks a clear salary and bonus policy, but typically pays employees on a monthly basis Employees are permitted designated days off, while additional days off beyond these are deducted from their salary As of now, there appears to be no established bonus scheme in place.
General assessment of cash accounting
- All cash receipts and payments have valid receipts and payments, the vouchers are rotated reasonably, the document checking is organized closely, quickly and accurately.
- At the company, all purchases must have clear vouchers and invoices, receipts and payments are in accordance with the State's regulations, with all the elements specified on the receipts and payments, have the signatures of the chief accountant, payment accountant and cashier.
Receivables are meticulously managed by the debt management team within the sales department, ensuring efficient credit collection Typically, customer receivables are collected within 20 to 30 days, maintaining healthy cash flow Additionally, the company consistently pays suppliers on time, adhering to signed contracts and agreements, which strengthens supplier relationships and supports smooth operation.
- For payables, suppliers are also always paid on time on signed contracts and agreements.
Weekly cash inventory checks are essential to monitor financial accuracy, although occasional deviations may occur Since daily audits are not conducted, identifying the exact cause of discrepancies promptly can be challenging It is important to review all transactions that take place during the week to ensure accurate financial reporting and maintain effective cash flow management Regular weekly cash reconciliation helps prevent errors and enhance overall financial control.
Recommendations
For any unit or organization, accounting is an important and indispensable tool in managing capital, assets and business processes taking place in the unit A unit with a well-functioning and effective accounting system usually ensures a healthy financial position, achieves high efficiency with the management of all activities as well as providing an accurate means of measurement for the company managers, and at the same time provide reliable economic information for State management agencies to perform well the function of operating their macro-economy.
Payment accounting is a crucial aspect of financial management, especially when it comes to managing transactions with customers and suppliers It is an essential practice for ensuring accurate financial records and maintaining healthy business relationships The importance of completing proper payment accounting cannot be overstated, as it has significant implications for both theoretical understanding and practical business operations Implementing effective payment accounting processes is vital for improving financial transparency, compliance, and overall operational efficiency.
- For cash, the fund accountant needs to record daily, continuously in the order of generation, receipts, expenditures, inputs and outputs of cash fund, checks, gold, silver and gems and calculates the cash balance at all times.
- It is recommended to monitor the money being transferred on account 113 to avoid loss and deviation.
Daily cashiers are responsible for inventorying the actual cash balance and comparing it with the cash book records Any discrepancies between the actual cash and the cash book must be thoroughly investigated by the accountant and treasurer They should identify the cause of the difference and recommend appropriate measures to resolve and prevent future discrepancies, ensuring accurate financial reporting.
To enhance the company's accounting processes, it is essential to address existing weaknesses and leverage the strengths gained Improving relationships with customers and suppliers can be achieved through the implementation of targeted policies and best practices By focusing on continuous improvement and strategic policy development, the company can optimize its financial management and foster stronger business partnerships.
- In terms of human resources: The company should add more human resources, especially young workers who are eager to approach modern science, which will create a new working style, contributing to promoting and improving the quality of life High qualifications of accounting staff to match the development of the Company.
To enhance financial oversight, monthly and quarterly accountants should regularly analyze key indicators related to customer and supplier solvency, ensuring timely insights into the company's financial health This proactive approach enables administrators to monitor financial performance continuously, rather than waiting until year-end reports Conducting these analyses more frequently improves decision-making, supports better cash flow management, and maintains accurate financial records throughout the year.
- The company should have policies to encourage employees with policies on periodic salary increases or according to business results, salary by product to help employees work more enthusiastic.
Thanh Sen Company's well-organized accounting practices have played a crucial role in its overall success By prioritizing accurate cash accounting, the company ensures timely payments and debt settlements, supporting sustainable growth The achievements of the accounting department serve as a motivating force for its team members, highlighting their vital contribution to the company's development.
During my internship at the Company, I gained valuable insights into the unique aspects of its accounting practices, including cash accounting for customers and suppliers This experience allowed me to identify both the strengths and areas for improvement within the company's financial processes I hope my feedback contributes to enhancing the company's accounting efficiency and accuracy.
I sincerely thank Teacher Brigitte Muller, Teacher Pham Duc Hieu, and the accounting department staff for their valuable support in completing this thesis Their guidance and assistance were essential to my research success I appreciate their dedication and contribution to this project Thanks to their help, I was able to achieve my academic goals.