History of the establishment and development of hai haconfectionery joint stock company

The company which has been operating in the form of Joint-stock Company on 20 January 2014 according to the certificate of business registration number0103003614 issued by the Department

CHAPTER 1 OVERVIEW OF COMPANY

1.1 History of the establishment and development of Hai Ha Confectionery Joint-Stock Company

Hai Ha Confectionery JSC is one of the top confectionery companies ofVietnam The company was founded in 1960, and is often shortened toHaiHaCo

In the beginning, HaiHaCo was a small-sized enterprise with a capacity of 2000tons per year for many years

In 2003, the company decided to go private and it now operates officially underJoint Stock Company according to the Resolution No 191/2003/QĐ-BCN ofMinistry of Industry dated 14 November 2003

The company which has been operating in the form of Joint-stock Company on

20 January 2014 according to the certificate of business registration (number0103003614) issued by the Department of Planning and Investment of Hanoiand changed the fourth on 7 May 2012 At present, it has developed into Hai HaConfectionery Joint-Stock Company with higher scale up to 20,000 tons peryear in production

The company's operations are primarily in north Vietnam and the Hanoi area; italso operates branches in Da Nang and Ho Chi Minh City The company isbased in Hai Ba Trung, Hanoi and is listed on the Hanoi Securities TradingCenter The cities in which the factories are located is Hanoi capital, Viet Triand Thai Binh A of now in the factories, there are about ten production lines.Hai Ha Confectionery currently exports their products to the countries Japan,Taiwan, Russia, the Middle East and Asian countries They are currently trying

to expand their exporting into the areas of Asia, Far Eastern countries andEuropean countries

In the period after 2000, facing new challenges arising in the process ofintegration, the Company has actively invested in advanced machinery andequipment to produce products with high nutritional value such as Chew sweets,Sponge cake, Miniwaf sponge cake, Nutrition cake for students under thecooperation program with Gret international organization and Nutrition Institute

of Ministry of Health, calcium and vitamin supplement products co-producedwith Tenamyd Canada

Achievements of the company are recognized:

- 4 Third Labor Medals (1960 – 1970)

- 1 Second Labor Medal (1985)

- 1 First Labor Medal (1990)

- 1 Third Independence Medal (1997)

- Certificate of Merit from the Prime Minister in 2010

Hai Ha Confectionery JSC products were won gold and silver medals at theinternational exhibition of Vietnam's industrial goods, the national economicsexhibition, and the engineering economics show in Vietnam

From 1997 to 2013, HAI HA Confectionery JSC products were loved byindividuals and has been rewarded as "high quality Vietnamese Goods"

Native name: Công ty Cổ phần Bánh kẹo Hải Hà

Type: Public Joint-stock Company

The business activities include:

- Manufacture and trade of confectionery and food processing

- Export and import of raw materials, machinery and equipment, consumergoods, other commodities

This is a preview

Do you want full access? Go Premium and unlock all 23 pages

Access to all documentsGet Unlimited DownloadsImprove your grades

- Other business sectors not prohibited by the provisions of law.

1.3 Organizational structure of Company

Structure of management apparatus of Hai Ha Confectionery Joint StockCompany

Notes: Steering Relations: Mutual Relations:

GENERAL MEETING OF SHAREHOLDERS

BOARD OF DIRECTORS

SUPERVISORY BOARD

Market Plannin

g Department

Supplie

s Department

Ho Chi Minh Branch

e Department

Auxiliary

enterprises

Candy Factory FactoryBakery ConfectioneHai Ha II

ry Factory

Chew Factory

Diagram1.2: Diagram of the management apparatus of Hai Ha

Confectionery Joint Stock Company

General Meeting of Shareholders:

Being the highest authority decides all important issues of the company inaccordance with the Enterprise Law and the company's charter The AGM is thebody that adopts long-term investment policies in the development of thecompany, decides to supplement and amend the company's charter, increases ordecreases charter capital, approves annual financial statements, decides onannual profit distribution, decides on splitting, consolidation, transformation,dissolution of the company

Board of Directors:

Be The company's management agency has full authority on behalf of thecompany to decide all issues related to the purpose and interests of thecompany, except for matters decided by the AGM Orient existing anddeveloped policies to implement the decisions of the AGM through policymaking, issuing action resolutions for the time suitable to the production andbusiness situation of the company

Deputy General Director in charge of Engineering:

Be who is responsible for monitoring and managing the technicalactivities of the company and is responsible to the General Director

Deputy General Director in charge of finance:

Be who directly monitors and manages the financial situation of thecompany, is responsible to the General Director

All Subordinate departments include:

-Writing Department: Responsible for solving issues of administrative,procedural, arrangement and arrangement of human resources,

- Finance Department: has the task of organizing accounting accounting,analyzing information, providing information for making management decisionsand operating production and business

- Development Engineering Department: responsible for productionengineering, technological processes, calculation of norms, manufacturing newproducts

- Market planning department: has the task of supplying materials,researching the market, planning production, proposing reasonable productconsumption measures, ensuring factors for the production and businessprocess

- Product Quality Inspection Department (KCS): is responsible forchecking the quality of input materials for the production process, the quality ofproduction and the quality of finished products

- Materials Department: responsible for purchasing and preservingmaterials of the company, supplying materials for production

CHAPTER 2 CHARACTERISTICS OF ACCOUNTING

ORGANISATION AND ACCOUNTING SYSTEM

2.1 Characteristics of accounting organization at Hai Ha Confectionery Joint-stock Company

The accounting apparatus at Hai Ha Confectionery Joint Stock Company

is organized according to a centralized accounting model, accounting work iscarried out in the finance department of the company The method of organizingthe accounting apparatus at the company is the online method – consulting, that

is, the chief accountant is the head of the accounting apparatus, directlymanaging the accountants; At the same time between the chief accountant andthe accountants there is a mutual consultative relationship

This is a preview

Do you want full access? Go Premium and unlock all 23 pages

Access to all documentsGet Unlimited DownloadsImprove your grades

Diagram 2.1: Organization chart of accounting apparatus at the company

The finance department consists of 7 people, including 6 accountantscorresponding to 5 accounting sections, 1 chief accountant and 1 treasurer,specifically as follows:

 The school accountant is the person who directs and is in general charge

of the activities of the finance department, and at the same timeconcurrently serves as a general accountant

 Deputy Accounting Department in charge of accounting for fixed assets

& construction works, monitoring the fluctuation of fixed assets,depreciation calculation, repair status of fixed assets and constructioninvestment works

 Cash, deposit and advance accountant is the person responsible fordetailed accounting and summarizing the situation of cash receipts,expenditures and inventories; monitor the situation of advance payments,internal and external payments of the company; accounting for operationsrelated to bank deposits

Accou nting for fixed assets

&

constr uction

Accou nting for materi als

Treas urer

Consu mptio

n Accou nting and Busin ess Admi nistrat ion

 The sales accountant and the KQKD is the person responsible foraccounting for the sales process, raising revenue, tracking cost prices,tracking discounts, discounts on goods sold and goods sold that reducerevenue.

 A wage and cost accountant is a person responsible for gathering andallocating production costs for each type of product, calculating productcosts and accounting for wage costs

 The material accountant is the person responsible for accounting foroperations related to the export and import of materials

 The treasurer is the person responsible for managing the import, exportand inventory of cash Daily compare the data on the treasury book withthe data on the cash accountant's book

In addition, at the factories there are also from 2 to 3 accountants, that is,statisticians and storekeepers They are responsible for collecting documentsrelated to economic transactions arising at the enterprise, recording warehousecards, making detailed inventory reports and then transferring relevantdocuments to the company's finance department for bookkeeping

2.2 Characteristics of accounting systems at Hai Ha Confectionery stock Company

Joint-2.2.1 General accounting policies

Currently, the company is applying the accounting regime according toDecision No 15/2006/QD-BTC dated March 20, 2006 of the Minister ofFinance The company strictly and fully complies with the current accountingstandards system

The accounting year at the company begins on January 1 and ends onDecember 31 according to the calendar year

The currency used in accounting is Vietnamese dong (VND) Thecompany uses the actual exchange rate to account for foreign currency Theaccounting period is quarterly.

The company calculates value-added tax according to the deductionmethod Other taxes the company must account for are corporate income tax,import value-added tax, export tax and some other taxes

Inventory accounting follows the regular accounting method and detailedinventory accounting according to the parallel card method Inventory isimported at actual price and the discharge price is according to the method ofweighted average price by month

The method of calculating the depreciation of fixed assets that thecompany is applying is according to the straight-line method according toDecision No 206/2003/QD-BTC dated December 12, 2003 of the Minister ofFinance

2.2.2 Organization of application of accounting voucher system

The company uses the system of documents on inventory, sales, currency,fixed assets, salary and calculates costs in accordance with the form specified inDecision 15/2006/QD-BTC of the Minister of Finance In addition, thecompany also uses documents printed by the company itself, the companyprepares and prints documents in accordance with the regulations of the taxauthority and is accepted in writing by the tax authority For example, value-added invoices The company prints itself and is set up in 3 links, link 1 blue forstorage, link 2 pink and deliver to customers and link 3 yellow is stored in theaccounting office

The company keeps books in the form of a Voucher Diary and has thehelp of accounting software However, the storage of documents is still a book

At the end of the month, quarter and year, the company prints the general booksand details necessary for storage in the company's finance department

2.2.3 Organization of application of accounting account system

This is a preview

Do you want full access? Go Premium and unlock all 23 pages

Access to all documentsGet Unlimited DownloadsImprove your grades

The company applies the accounting regime under decision 15, so thecompany uses most of the accounts under the prescribed regime except for someaccounts the company does not use such as For the short-term asset accountgroup, the company does not use inventory discount reserve accounts becausethe company does not set aside this reserve and the accounts belong to careerexpenses because the company is a joint stock company With the group ofaccounts reflecting production and business costs, the company does not usepurchase accounts, production cost accounts because the company accounts forinventory according to the regular declaration method, not the periodicinventory method and account for the cost of using construction machinesbecause the company is a manufacturing enterprise, not a constructionenterprise.

Because the company is a manufacturing enterprise, but the mainproducts are cakes and sweets, so the company has a lot of materials, manyfactories and many different items, so the unit also opens detailed accounts byitem and by place of production for clear management and identification,scientific, avoid confusion that makes it difficult for users and those responsiblefor management, in supervision

2.2.4 Organizing the application of the bookkeeping system

The company is currently applying the form of accounting DocumentDiary, the accounting book system used at the company is:

- Document Diaries Nos 1 to No 10

- Payment List No 1,2,4,5,6,8,9 The company does not use list No 3because the company does not calculate the price of raw materials, tools,goods and finished products according to the price coefficient method

- Detailed ledger

- Allocation Table No 1,2,3

- Ledger of accounts in use

Statements, voucher logbooks, ledgers are applied in accordance with generalregulations and detailed books are opened to serve the accounting requirements

of the company

The use of Document Logs is done month by month with the help ofmachine accounting software The company uses VC2001 accounting software,which is software the company hires experts to design to suit the accountingcharacteristics at the company In the finance room, the accountants' computersare networked to each other, and there is a server of the chief accountant thatkeeps track of all the remaining machines in the room The general process ofmachine accounting is generalized through the following diagram:

Thus, the arising operations are updated by the accountant on thecomputer, the machine will process accounting-related information and producenew data At the end of the month, the necessary books can be printed at therequest of the manager The bookkeeping process on VC2001 accountingsoftware is as follows:

Original documents and attribution tables

Payment

List DOCUMENT DIARY accounting Detailed

books and cards

The input data declares the information requested by the machine

Information Processing Machine

Output data of detailed accounting books, consolidation,

financial statements as required by accountants

: Daily Recording

: Comparative collation

: Record at the end of the month

Diagram 2.2: Bookkeeping process

Financial statements: The company's financial statements are preparedaccording to Decision No 15/2006/QD-BTC dated March 20, 2006 of theMinister of Finance Because the company is listed on the stock market, thecompany also has to prepare full financial statements in the middle of theaccounting year (excluding Q4) The financial statements that the companyprepares include:

1 Balance sheet (form No B01-DN)

2 Statement of business results (form No B02-DN)

3 Statement of cash flows (form No B03-DN)

4 Notes to financial statements (form No B09-DN)

Because the company has two independent branches, every quarter and atthe end of the accounting year, the company also has to prepare consolidatedfinancial statements Consolidated financial statements are prepared on the basis

of adding up the indicators on the balance sheet, reporting the results ofbusiness activities of the company's office and subordinate units after excludingreceivables, internal payables, internal revenue, internal cost price and internalprofit between internal units of the enterprise

table

Financial Statements

This is a preview

Do you want full access? Go Premium and unlock all 23 pages

Access to all documentsGet Unlimited DownloadsImprove your grades

After being prepared, the company's financial statements are sent to taxoffices, statistics offices, business registration offices and Hanoi StockExchange Center.

2.3 ORGANIZATION OF ACCOUNTING FOR SPECIFIC ADMINISTRATIVE SECTIONS

2.3.1 Accounting organization for cash, deposits and advances

- Documents used:

1 Receipt (book form 01 – TT)

2 Cheque (form book 02 –TT)

3 Advance request form (book form 03 – TT)

4 Advance payment paper (book form 04 – TT)

5 Payment request form (book form 05 –TT)

6 Receipt of collection (form book 06 –TT)

7 Fund inventory (used for VND) (book form 08a – TT)

8 Expense statement (book form 09 – TT)

All revenues with large or small amounts, the procedure forimplementation is almost the same For activities of collecting large sums of