Accounting for purchases and sales at my quynh zoo corporation

1.1.2 Principles of inventory accounting according to Circular 200 “+ The inventory account group is used to record the current value and changes in inventory of the enterprise if the en

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VIETNAM GENERAL CONFEDERATION OF LABOUR

TON DUC THANG UNIVERSITY

FACULTY OF ACCOUNTING

VO GIA THE VIEN

ACCOUNTING FOR PURCHASES AND SALES AT MY QUYNH ZOO

2

VIETNAM GENERAL CONFEDERATION OF LABOUR

TON DUC THANG UNIVERSITY

FACULTY OF ACCOUNTING

ĐẠI HỌC TON BUC THANG

TON DUC THANG UNIVERSITY

VO GIA THE VIEN — 218H0490

ACCOUNTING FOR PURCHASE AND SALES AT MY QUYNH ZOO

CORPORATION

UNDERGRADUATE THESIS OF

ACCOUNTING

Advised by

MSc Nguyen Thi Thanh Huong

MSc Mai Huynh Phuong Thao

HO CHI MINH CITY, YEAR 2023

ACKNOWLEDGEMENT

After eight weeks of internship is an opportunity for him to synthesize and systematize the knowledge he has learned in school, and at the same time combine it with practice to improve his professional knowledge Although I only had eight weeks

of internship, through the internship, [ have broadened my horizons and absorbed a lot

of practical knowledge Since then, I realized that practical experience is extremely important, it helps students build a stronger theoretical foundation learned at school During the internship, from the lack of contact to the lack of experience, I encountered many difficulties, but Without my supervisors MSc Nguyen Thi Thanh Huong, Faculty of Accounting at Ton Duc Thang University, assistance and dedicated involvement in every step throughout the process, this paper could not have been accomplished and the enthusiasm of the staff in the accounting department of My Quynh Zoo Corporation helped me gain valuable experience to successfully complete this internship as well as write the final internship report I sincerely thank you

Ho Chi Minh City, 3 August year 2023

Author

Vo Gia The Vien

4

This thesis was carried out at Ton Duc Thang University

Advisor: MSc Nguyen Thi Thanh Huong

MSc Mai Huynh Phuong Thao

This thesis is defended at the Undergraduate Thesis Examination Committee was hold

at Ton Duc Thang University on / 08 / 2023

Confirmation of the Chairman of the Undergraduate Thesis Examination Committee and the Dean of the faculty after receiving the modified thesis (if any)

CHAIRMAN DEAN OF FACULTY

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DECLARATION OF AUTHORSHIP

I hereby declare that this thesis was carried out by myself under the guidance and supervision of MSc Nguyen Thi Thanh Huong; MSc Mai Huynh Phuong Thao and that the work and the results contained in it are original and have not been submitted anywhere for any previous purposes The data and figures presented in this thesis are for analysis, comments, and evaluations from various resources by my own work and have been duly acknowledged in the reference

Ho Chi Minh City, 3 August year 2023

Author

Vo Gia The Vien

6 ABSTRACT Subject: Internship report Accounting for inventory at My Quynh Zoo Corporation During the study at Ton Duc Thang University, with the teaching and guidance of our teachers, we were provided with sufficient theories, research methods and accounting systems

But to be able to apply all the knowledge learned, practical knowledge is indispensable Therefore, it is very important to apply theory to practice Therefore, it

is extremely necessary to practice accounting at the enterprise, which helps me shorten the gap between theory and reality Internships are a bridge that helps me access a job after graduation

During my internship at My Quynh Zoo Corporation, with the help of the Accounting Department, my internship report was completed with the following

content:

CHAPTER 1: LITERATURE REVIEW

CHAPTER 2: INTRODUCTION OF MY QUYNH ZOO CORPORATION CHAPTER 3: RESEARCH PROCEDURE

CHAPTER 4: INTERNSHIP PROCEDURE AT MY QUYNH ZOO

CORPORATTION

CHAPTER 5: EVALUATION OF THE INTERNSHIP EXPERIENCE

However, due to limited practice time and knowledge, the internship report may not

be comprehensive I look forward to receiving your comments and understanding

Table of Content

LIST OF FIGURES - - 2 2 211211211512 118351112211 111 01111121 18101111101 1011 1E 0x kg 9

IIk509)387.16).2 0) 100011 -.-‹ 3-4iIA 10

CHAPTER I:LITERATURE REVIENW Q.00 0 00201 1 vn nh nn ng n1 111111111121 x ket 1 li oi ốe 1

ID P0009 00000 / và) 2 /-H-ia ảid.Ả 1

1.1.2 Principles of inventory accounting according to Circular 200 1

1.2 Review of previous TEPOTÍS Q0 10.11222111 1251121110111 H2 k 1k 7 1.2.1 ii 000 A/-n:iaaadđiIẦI 7

II» ốc Ta 7

CHAPTER 2: INTRODUCTION OF MY QUYNH ZOO CORPORATION 9

2.1 Introduction o£ My Quynh Zoo Corporafion có 1222211122211 ney 9 2.1.1 Information about My Quynh Zoo Corporation - 2 co cc se e 9 2.1.2 History o£ My Quynh Zoo CorporafIon c2 122212122 221v ec 9 2.2 Organ1zational sfTu€fUTe - c1 222221112111 121 1121251111111 121112111111 811 8111k 10 2.2.1 Organization chart of My Quynh Zoo Corporation -.- ccccccss: 10 2.2.2 Functions performed by different departmens - - + c2 c++css2 10 2.2.3 Products and services ofÍÍering - - c c1 1212122112 11121211211 1011118118 ky 13 2.2.4 Vision for the ẨUfUTG - - c1 12112111211 211111111 1111101111 2111 11111111111 kg và, 16 CHAPTER 3: RESEARCH PROCEDURE .cccccccccccccccsseseesceseneeecteesesesseeseneeseensees 18 SN sáo con 18

3.2 Identifyng the research 1sSU€ 2L 2 0.22222111211122 112211215 1 1 ghe 18 3.2.1 Reason of choosing research 1sSU€ - 0 2 1221222111112 21122 eo 18 E0 an ae 18

3.3 Investigation of the actual sifuafion c c2 1211 125112511 HH he 19 3.3.1 Collecting infÍormation - -. c1 1 2221222111 111 211151112111 15501 11118111112 ke 19 3.3.2 Sorting, analyzing and synthesizIng Information - 5 5c se s25 ss+ss2 19 3.4 Evaluation o£the collected informafion - ¿2 2 2221211121121 x+2 20 CHAPTER 4: INTERNSHIP PROCEDURE AT MY QUYNH ZOO CORPORATION ¬— 21 CN 000 vi i.ÁÝÁÁÁÁ 21

4.1.1 My working condition and ÍuncfIOn§: c2 2212221112225 exk2 21 NV vì in ch 22

4.2 Accounting for purchases and sales at My Quynh Zoo Corporation 28

4.2.1 Accounting for purchases of good at My Quynh Zoo Corporation 28

4.2.2 Accounting for sales o£ good at My Quynh Zoo Corporafion 36

CHAPTER 5 EVALUUATION OF THE INTERNSHIP EXPERIENCE 47

3.1 Advantages and ]IsadvanfaØ€s§ ác 20c n2 n1 2H HH ng Hee 47 RecommendafIoTS: L1 c 1222122211 2211111 1112115111111 158121011 1 11181118111 key 50 5.2 Gaining Experiences ccc “1434 50 s35) 09-52222525 52

13509 222 e 33

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LIST OF FIGURES

FIigure 2.L: Logo of My Quynh Zoo Corporafion 1Ô FIgure 2.2: Realistic experlence of semi-wIÏd areas l5 Figure 2.3: Photos of visitors' experience of feeding deer lồ FIigure 2.4: Water park at My Quynh Zoo cà cóc cv nee ee TÔ Figure 2.5: Resort at My Quynh Zoo l7 Figure 2.6: Website of My Quynh Zoo cuc c7 Figure 4.1: Accounting OfÍce các cà cà nền nh ten tee neste ly các 29 Figure 4.2: Transfer proposal form 24 Figure 4.3: Transfer proposal form 24 Figure 4.4: Warehouse transfer slip on accounfing software 25 Figure 4.5: Invoice payment to suppÏ1er 2Ó Figure 4.6: Record purchase vơuchers on accounfIng software 27 FIigure 4.7: Goods warehouse T€C€TpT cóc cà các cv testes een 28 Figure 4.8: End of day inventory confirmation sheet 29 FIgure 4.9: General J@unaÌL - ¿236 1211211211111 11 1111153111111 111 111 11 11 11 1 tt 35 FIgure 4 L0: Detail account purchase raf€ - - c c t1 11v 1v ve, 37 Iìn in n ea 39 Figure 4.12 General ]OUTTiaÌL - ¿E22 3213 21351391391 311 5515115153 E5311 111511511 1y 45

lì Kn 2ð Ioivìc:pPiiiiiaiaiađaaiiiaiÔ4ŸẼỶÝÝÝÝÝỶ 46 EIigure 4.4 Account Cost Of Good Sold Ledger - óc cv vsseexee 47 EIgure 4.LI5 Account Sales LeeT - 122 2112211111111 1511211211212 11x 49

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LIST OF DIAGRAM

Diagram 2.1: Organizational Structure Of My Quynh Zoo Corporation

Diagram 4.1: Flow chart of goods warehousing at My Quynh Zoo Corporation Diagram 4.2: Flowchart the process of exporting goods at My Quynh Zoo Corporation Diagram 4.3: Order of document circulation (Account 511, 632)

CHAPTER 1: LITERATURE REVIEW

1.1 Theoretical basis

1.1.1 Definition of inventory:

Inventories are raw materials, work-in-process goods and completely finished goods that are considered to be the portion of business’s assets that are ready or will be ready for sale Formulating a suitable inventory model is one of the major concerns for an industry The earliest scientific inventory management researches date back to the second decade of the past century, but the imterest in this scientific area is still great Again considering the reliability of any process is an important feature in the research activities Values of some factors are very hard to define or almost unreal In such cases, fuzzy models of inventory management take an important place

1.1.2 Principles of inventory accounting according to Circular 200

“+ The inventory account group is used to record the current value and changes in inventory of the enterprise (if the enterprise makes inventory accounting using the regular inventory method) or is used to record the value of inventory at the beginning and the end of the accounting period of the enterprise (if the enterprise makes inventory accounting by the periodic inventory method)

«+ Inventories of an enterprise are assets purchased for production or for sale in the normal production and business period, including:

- Purchased goods are on the way;

- Raw materials, materials; Tools;

- Work in progress;

- Finished products and goods; consignment for sale;

- Goods are kept at the tax-suspension warehouse of the enterprise

For work in progress, if the production and turnover period exceeds a normal business cycle, it is not presented as inventory on the balance sheet but as a long-term asset

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For materials, equipment and spare parts with reserve period of more than 12 months

or more than a normal production and business cycle, they are not presented as inventories on the balance sheet but presented as long-term assets

+,

ww Products, goods, supplies, assets received for custody, consignment, entrusted import and export, processing that are not under the ownership and control of the enterprise shall not be recorded as inventories

Accounting for inventory must comply with the provisions of Accounting Standard

“Inventories” when determining the historical cost of inventory, the method of calculating the value of the inventory, determining the net realizable value, making

a provision for devaluation of inventory and recording costs

The principle of determining the original cost of inventories is specified for each type of material and goods, according to the source of formation and the time of price calculation

Non-refundable taxes are included in the value of inventory, such as: Input VAT of non-deductible inventory, excise tax, import tax, and environmental protection tax payable when purchasing inventory

When purchasing inventory, if additional products, goods, equipment, and spare parts are received together (in case of failure), the accountant must separately identify and record the replacement products, spare parts and equipment at their fair value The value of purchased products and goods is determined by the total value of purchased goods minus the value of products, equipment and spare parts When selling inventories, the original cost of sold inventories is recognized as production and business expenses in the period in accordance with the revenue related to them being recognized and in accordance with the nature of the transaction In case of exporting inventory for promotion or advertisement, the following principles shall be followed:

- In case of exporting inventory for promotion or advertising without collecting money, without other conditions such as having to buy products, goods , the value of inventory shall be recorded to selling expenses (details of promotional and advertising goods);

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- In case of exporting inventory for promotion and advertising but the customer is only allowed to receive promotional and advertising goods with other conditions such as having to buy products and goods (for example, buying 2 products, getting

1 product free ) the accountant must allocate the proceeds to calculate revenue for both promotional goods, the value of promotional goods is included in the cost price (in this case, the nature of the transaction is a reduction in the selling price) s* When determining the value of ending inventory, enterprises apply one of the following methods:

- Method of calculation according to the nominal price: The method of calculating according to the name of the price is applied based on the actual value of each purchased goods, each product produced, so it is only applicable to businesses with few stable and identifiable products or products

- Weighted average method: According to the weighted average method, the value of each type of inventory is calculated according to the average value of each type of inventory at the beginning of the period and the value of each type of mventory purchased or produced during the period The average value can be calculated for each period or after each imported shipment, depending on the specific conditions of each enterprise

- First-in, first-out (FIFO): The first-in, first-out (FIFO) method is based on the assumption that the value of inventory purchased or manufactured first is sold out first, and the ending inventory value is the value of inventory purchased or produced near the end of the period According to this method, the value of inventory is calculated according to the price of the goods in stock at the beginning of the period or near the beginning of the period, the value of the ending inventory is calculated according to the price of the inventory at the end of the period or near the end of the period Each inventory valuation method has its own advantages and disadvantages The level

of accuracy and reliability of each method depends on management requirements, qualifications, professional capacity and level of equipment with calculation tools and information processing facilities of enterprises At the same time, it also depends on

of accounting for exchange rate differences shall comply with the provisions of Article 69 — guidance on accounting methods for exchange rate differences

«+ At the end of the accounting year, if it is deemed that the value of the inventories cannot be recovered sufficiently due to damage, obsolescence, reduced selling prices, or increased costs of completion or cost of goods sold, the cost of inventories must be reduced to equal to the net realizable value of the inventories Net realizable value is the estimated selling price of inventories in the ordinary course of business minus (-) the estimated costs to perfect the products and the estimated costs necessary to sell them

Depreciation of inventories to net realizable value is made by making provision for devaluation of inventories An allowance for devaluation of inventories is made as the difference between the cost of inventories and their net realizable value

All the differences between the provision for devaluation of inventories to be made at the end of this accounting period which is greater than the provision for devaluation of inventories made at the end of the previous accounting period, the losses and losses of inventories, after deducting (-) compensation for personal liability, and unallocated general production costs, are recorded as production and business expenses in the period If the provision for devaluation of inventories made at the end of this accounting period is smaller than the provision for devaluation of inventories made at the end of the previous accounting period, the smaller difference must be reversed and recorded as a decrease in production and business expenses

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+* The inventory accountant must concurrently make detailed accounting of both the value and the kind of each item, type and specification of materials and goods according to each management and use location, always ensuring the match, both

in value and in kind, between the reality of supplies and goods with the general and detailed accounting books

s* In an enterprise (an accounting unit) only one of two inventory accounting methods can be applied: the perpetual declaration method, or the periodic inventory method The selection of inventory accounting method to be applied at the enterprise must be based on the characteristics, nature, quantity, type of materials and goods and management requirements for appropriate application and must be done consistently in the accounting year

Inventory accounting methods

* Regular declaration method: The regular declaration method is a method of regularly, continuously and systematically monitoring and reflecting on the situation of import, export and inventory of supplies and goods in the accounting books In the case of applying the regular declaration method, the inventory accounting accounts are used to reflect the current number, the increase or decrease in the amount \of materials and goods Therefore, the book value of inventory can be determined at any point in the accounting period

At the end of the accounting period, based on the actual inventory data, compare and contrast with the inventory data on the accounting books In principle, the actual inventory must always match the inventory in the accounting books If there is a difference, it is necessary to find the cause and take timely solutions The regular declaration method is usually applied to manufacturing enterprises (industry, construction and installation ) and commercial enterprises dealing in items of great value such as machinery, equipment, technical and high-quality goods

* Periodic checking method:

- Periodic inventory method is an accounting method based on actual inventory results

to reflect the value of ending inventory of materials and goods in the general

- The mventory of supplies and goods is carried out at the end of each accounting period to determine the actual value of materials and goods in stock, the value of supplies and goods released from stock in the period (consumption for production or sale) as the basis for recording the accounting books of account 611 "Purchase" Thus, when applying the periodic inventory method, the inventory accounting accounts are only used at the beginning of the accounting period (to carry forward the opening balance) and at the end of the accounting period (to reflect the actual value of the ending inventory)

- Periodic inventory method is often applied in enterprises with many types of goods and materials with very different specifications and designs, low value, goods and materials used or sold regularly (retail stores ) The method of periodic inventory of inventory has the advantage of being simple, reducing the workload of accounting But the accuracy of the value of materials and goods used and sold is affected by the quality of management at warehouses, counters, and yards

(All 23 Circular 200/2014/TT-BTC )

1.2 Review of previous reports

1.2.1 Reports in Viet Nam

In order to prepare my essay, I carefully researched the subject and consulted a few alumni reports From this, I was able to develop some insightful points of view

The second article is the graduation report with the title “Completing inventory accounting at Tan Thuan Co., Ltd” written by Pham Thi Hoa in 2019, Ton Duc Thang University The author's work fully describes the issues related to import and export of goods With information related to the business situation in 2019 of Tan Thuan Co., Ltd., the author has provided illustrations The basic theoretical issues of the report have also been described in detail and in-depth by the author current regulations on inventory accounting in commercial organizations The author also points out the benefits and limitations of accounting work at the enterprise and gives useful, feasible and suitable solutions to the actual conditions at the enterprise

Next, “Inventory accountant at CONNEX-AIKO steel industry ltd” written by Tran Thi Thanh Thuy in 2020 The report outlines the benefits and limitations of the company's inventory management process and points to potential improvements to the internal inventory control system After reading, I realize the responsibility of the staff

in ensuring that no product loss occurs during the delivery and receipt of goods to the warehouse

1.2.2 Foreign reports

In addition to reports in Viet Nam, I have also consulted a number of foreign

reports

One of the report is "Internship report inventory management system of Nestle

BD, LTD” written by Jarin Tasnim Topa in 2014, East West University Despite not being on the same topic as me, the report helped me choose my words better In

a remarkable one In the current market economy, the well-organized inventory accounting in commercial enterprises plays a particularly important role: Not only does it provide historical information, it also provides defining directional to help administrators easily analyze, evaluate timely and quickly make appropriate decisions Therefore, I decided to write the topic "Accounting of inventory at My Quynh Zoo Joint Stock Company”

SUMMARY OF CHAPTER 1:

In chapter 1, I mentioned the theory of inventory as well as an overview report on the research topics that I have consulted from which to draw experience to choose my topic Next chapter 2, I will introduce about the company I work for as well as its products and services

CHAPTER 2: INTRODUCTION OF MY QUYNH ZOO

CORPORATION 2.1 Introduction of My Quynh Zoo Corporation

2.1.1 Information about My Quynh Zoo Corporation

International name: M MY QUYNH ZOO CORPORATION

Abbreviated name: M MY QUYNH ZOO CORP

Address: Land parcel 3, map sheet 35, Nguyen Thien Khiem

street, group 1, Tan My commune, Duc Hoa district, Long An

Tax number: 0310 0310572159

Telephone: 0773 0773076076

Legal representative: Lam Phuc Hoanh

Type of business: Fun and Entertainment Company

Operation date: 31/0 31/01/2011

Managed by: Lon Long An Provincial Tax Department

Status: Active Active (granted registration certificate)

ove

Figure 2.1: Logo of My Quynh Zoo Corporation

Source: https://myquynhsafari.com/

2.1.2 History of My Quynh Zoo Corporation

Established in 2011 and opened to welcome guests in 2020, Starting from the purpose of creating a green space for fun activities, entertainment and rest for visitors,

More than just a business model with profit as the first goal, My Quynh Zoo has

visitors and local development

2.2 Organizational structure

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Director

Deputy Director}

many days of cherishing, has finally come to fruition and launch

2.2.1 Organization chart of My Quynh Zoo Corporation

tourists, especially to create a world of childhood for children, My Quynh Zoo, after

the stature of a community-oriented project, raising the awareness of protecting nature

in close and friendly ways practical My Quynh Zoo also brings a lot of value to

- Ensuring established company strategic plans and goals are being met

- Act in a way he considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole

- Directors have to exercise their powers independently, without subordinating their powers to the will of others and without fettering their discretion

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A director must exercise such reasonable skill, care and diligence as would be exercised by a reasonably diligent person with the director’s actual general knowledge, skill and experience

Setting up the overall enterprise resource planning (ERP) system Afterward, improve corporate procedures to boost worker productivity

Speaking on behalf of the company when addressing shareholders, governmental bodies, and the general public

Preserve and protect livestock through the provision of health care

anage the number of breeding animals and track their daily activities

Visitor Services Section:

v

v

Creating and printing collaterals and maps

Providing key information (where to go, what to do, where to stay, events, planning your trip, etc.),

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v¥ Answering phone, email and social media inquiries

Y¥ Public services (parking, bathrooms, wifi, etc)

¥ Complaints and mediation with the tourism industry, and social customer service

¥ Informs job applicants, by telephone, letter, or e-mail, of their employment application status

v¥ Reviews applications to determine if the qualification requirements are met or if disqualifying factors are present; evaluates education and experience according

to specific instructions; refer more complex cases to supervisor

v¥ Makes appropriate and productive use of computer and software technologies in the generation of documents, data analysis display or database retrieval

¥ Attends meetings, seminars, conferences and training programs pertaining to the personnel administration area

Y¥ Designs and/or organizes orientation classes and diversity training sessions for new employees

¥ Administers skills profiling and other aptitude tests to employment candidates

¥ Assists with the development of performance evaluation criteria, job selection criteria techniques and procedures to enable the Division to effectively meet overarching objectives

Accounting Office:

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¥ Maintain and record all business transactions accurately and comprehensively

in a systematic way, they can be retrieved and reviewed at any time

¥ Maintain adequate internal controls within the organization to safeguard its valuable resources

¥Y Provide a basis for performance assessment and create accountability across the organization

Y Keep track of costs incurred by the company and advise the modification of existing operations to reduce operating costs

¥ Support senior management in the decision-making process by appropriately presenting the financial data

¥ Plan based on anticipation of business needs and expected availability of

resources

2.2.3 Products and services offering

Today with the development of the world and the age of technology, we can see animals through electronic devices., However, touching them will help people feel more interested and more visualised As the result, My Quynh Zoo has developed wild and semi-wild areas to help visitors experience the reality when coming there semi-wild areas

Animals are released freely and create the best living conditions with their own ecosystem Visitors will be able to see the world of wildlife in miniature through the car window, and guests will also be provided with the service and experience of feeding tigers and observing them more clearly as well Visitors will be guaranteed absolute safety

Figure 2.2: Realistic experience of semi-wild areas

Source: https://myquynhsafari.co m/services/natural-activities/

wild zoo

The most "terrible" zoo in the South: gathers many species of animals, including some rare animals In particular, visitors will be able to participate in interactive activities with animals

You can get around the park in your car or rental car, by bus or on foot Options also include a 4WD sport utility vehicle that you can rent at the park equipped with a navigation system and a guided bus tour

Home to more than 100 different species of wildlife, My Quynh Safari is designed like a beautiful small forest with many trees, dirt roads and small hills More specifically, here, you will also be able to meet and support to pet wild animals such as lions, tigers, deer, hippos,

Figure 2.3: Photos of visitors' experience of feeding deer

Source: https://myquynhsafari.com/services/mini-camp/ Resort service, food and entertainment area

offers unique dishes, rich game system and impressive resting space An entertainment paradise built by the best teams, high-class art shows

Not only for sightseeing but also an amusement park, My Quynh Zoo has an extremely spacious water park Here, visitors from children to adults will have fun with the cool blue water in the super large swimming pool, experience the colorful spiral slide games long enough for you to experience full of adventure and excitement

Source: https://myquynhsafari.com/services/tradition-camp/ For the convenience of visitors wishing to rest overnight, My Quynh Safari also has its own resort area with pretty good service quality, currently there are 2 room types: single and double rooms, prices from 300,000 to 800,000 VND /room At this resort, guests will enjoy a relaxing space with rustic architectural style, close to nature, but no less modern and luxurious

Figure 2.6: Website of My Quynh Zoo

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Source: collected from My Quynh Zoo Corporation Society is more and more civilized and developed, and people have begun to pay more attention to environmental issues and humanity in the form of sightseeing tours

to learn about animals Typically, the gradual elimination of animal circuses, zoos also become a relief place for illegally captured wild animals, these animals that have been kept in captivity for a long time gradually lose their ability survive in the wild and are brought back to zoos to take care of

Although My Quynh Zoo has only been in operation for a short time, it has become a weekend destination for many tourists in the Southeast and some other provinces My Zoo is also the first zoo in Long An - a tourist land with many interesting attractions With a proportional investment event, each area at the zoo is built and designed at a billion rate, creating a sightseeing space close to nature, with many extremely cool green trees

More than just a business model with profit as the first goal, My Quynh Zoo has the stature of a community-oriented project, raising the awareness of protecting nature

in close and friendly ways practical My Quynh Zoo also brings a lot of value to visitors and local development

SUMMARY OF CHAPTER 2:

In chapter 2 I introduced specifically about the company I work for About products, services and departments in the company, especially the accounting department where I work Next to chapter 3, I will tell everyone about my research procedure for my report

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CHAPTER 3: RESEARCH PROCEDURE

3.1 Research procedure

My thesis performs the graduation thesis, basing on three basic steps:

1 Identifying the research issue

2 Investigation of the actual situation

3 Evaluation of the collected information

3.2 Identifying the research issue

3.2.1 Reason of choosing research issue

Real-world Application: Inventory is a crucial component of many businesses, and its proper accounting is essential for financial reporting and decision-making Studying this topic allows me to explore practical applications of accounting principles in a business context

Impact on Financial Statements: Errors in inventory accounting can significantly impact a company's financial statements Investigating how inventory accounting affects financial reporting and overall financial performance can be an interesting and valuable area of study

Cost Management: Inventory costs can significantly impact a company's profitability Analyzing inventory accounting practices can help identify ways to optimize costs and improve efficiency

Decision-making: Effective inventory accounting is essential for informed decision-making by management, investors, and other stakeholders Studying this topic can shed light on how inventory data influences strategic and operational decisions

= Realizing the importance of this issue, especially at the business that I am working for, so I chose "Accounting for inventory at My Quynh Zoo Corporation” to study

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- Learn the process of buying and selling inventory at the company

- Learn about the process of accounting and recording business transactions at the company

3.3 Investigation of the actual situation

3.3.1 Collecting information

To gain an intuitive view of accounting for inventory, I have use various methods

of information collection These methods will provide me with practical insights into how inventory is managed, valued, and recorded Here are some effective methods to help me understand accounting for inventory:

® Reading Reference and Online Resources: Start by reading reference and online resources that cover accounting principles, specifically related to inventory Look for explanations, examples, and case studies that illustrate how inventory is accounted for using different valuation methods

® Practical Exercises and Case Studies: Work through practical exercises and case studies that involve inventory accounting This hands-on approach will help me apply theoretical knowledge to real-world scenarios, improving my understanding of how inventory transactions are recorded

¢ Industry Reports and Case Studies: Some industries have specific inventory accounting challenges due to their unique characteristics Look for industry reports and case studies that discuss inventory management practices in my area of interest

® Interview: The staff in the accounting department are the ones who know the best about inventory accounting To have a basis for research, I interviewed brothers and sisters in the accounting department to understand the company's inventory accounting processes and learn from practical experience

3.3.2 Sorting, analyzing and synthesizing information

When collecting information about accounting for inventory, I will likely encounter various data points, documents, and details To effectively sort, analyze, and synthesize this information, I have done the following jobs as follows:

¢ Organize Data and Documents: I start by gathering all relevant data and documents related to inventory accounting This include financial

to identify patterns and understand the different aspects of inventory accounting

Identify Inventory Valuation Methods: Determine the inventory valuation methods used by the company, such as FIFO, LIFO, or weighted average cost

Prepare a Summary Report: Summarize my findings and key insights in

a comprehensive report Includes recommendations for optimizing inventory management and accounting processes, From that, I have learned the missing points to continue collecting more information

3.4 Evaluation of the collected information

Conducting an assessment of the data I have collected from accounting for inventory is a crucial step to ensure the accuracy, reliability, and relevance of the information through the following criteria:

Data Relevance and evaluate whether the data collected is relevant to the objectives of my article

Summarize Key Findings and compile the key findings from my data assessment in a clear and concise manner

Draw Conclusions based on my data assessment, draw conclusions about the state of inventory accounting

By conducting a thorough review of the data you have collected, it enhances the credibility and credibility of your content, making it more valuable

SUMMARY OF CHAPTER 3:

In this chapter, I introduced the research procedure as well as how I collected and processed information for my report In chapter 4, I will introduce how the company works

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CHAPTER 4: INTERNSHIP PROCEDURE AT MY QUYNH

ZOO CORPORATION 4.1 Internship activities

4.1.1 My working condition and functions:

I started working at the company on March 20, 2023 as an intern in the accounting department My Quynh Zoo Jomt Stock Company enthusiastically created all favourable conditions for me to approach the actual accounting process and grasp the arising accounting process of the business

Chief accountant — Mr Tien: is responsible for managing and assigning work in the accounting department, as well as checking documents, books, monthly, quarterly and annual financial statements, auditing Check revenue and expenditure, purchase and sale activities of the enterprise, make accounting reports and send them to superiors Chief accountants analyze and forecast the financial resources of the business for managers

Warehouse Accountant — Mr Dat: directly manages the operation and records the data and goods documents to hand over to the superior He also conducts the re- counting, classifying and checking to ensure the quality of goods at the warehouse At the same time, his responsibility is to record the expiry date of the goods to promptly handle the inventory before the expiration date, avoiding damage to the business Payment accountant — Ms Trieu: is responsible for monitoring debt payment, monitoring cash receipts and payments, sending to banks Debt comparison; Submit a payment request Manage accounting operations related to cash flow Directly collect money from objects inside and outside the enterprise such as collecting capital contributions from shareholders Daily collection of cash from cashiers, collection of receivables from customers Bank deposit tracking Monitor and urge the receivables

of shareholders (committed to contribute but not yet contributed), treasurer, customers Sales accountant — Ms Duong: provides information and sales figures to help business leaders understand the sales and financial situation, thereby setting out effective business strategies in the future The data report provided by the sales accountant also shows the sales results, the situation of the difference between the production and sales stages

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Below is the accounting office, where I work every day The accounting office consists of 7 employees, including me, an intern at the company Because the workload is quite large, everyone is serious about completing the work, but when needed, everyone still helps each other

Figure 4.1: Accounting office Se ra

Source: collected from My Quynh Zoo Corporation 4.1.2 Internship tasks

My daily job is to approve stock requisitions and organize documents with sales reports warehouse accountant — Mr Dat — is the person who directs and guides all of

my work during the process of working at the company

Task 1: Distributing of goods according to the delivery note and storekeeper's receipt

v After receiving the report of the release note, I proceed to make the release note

on the accounting software according to the quantity reported by the warehousekeeper

v¥ This is the job of dividing goods from large warehouses to distribute through small warehouses For example, from a large warehouse to a zoo warehouse, from a large warehouse to a square warehouse

Figure 4.2: Transfer proposal form

Source: collected from My Quynh Zoo Corporation

“SRS wae PHAN VUtN THU MP QUYNH

Figure 4.3: Transfer proposal form

Source: collected from My Quynh Zoo Corporation

"Thông tin chung Chúngtừ

Hợp đông số Phương tiện

TWISTERCAM Twister cam chai nhựa 455x24 132NUOCGK 14TỦ TỰ ĐỘNG TỦTỰ ĐỘNGNGO 1561 1861

Số dòng =5

Figure 4.4: Warehouse transfer slip on accounting software

Source: collected from My Quynh Zoo Corporation

Self -Assessment: After completing the assigned work, I knew how to move the goods warehouse from the general warehouse to the sub-warehouses to meet the needs of the departments to serve customers

Task 2: Preparing payment proposals for suppliers

v¥ After the goods are imported, the accountant will make a request for payment to the supplier

v First output account 331 on accounting software and look up the balance Then proceed to make a payment request along with the sales invoice and the supplier's delivery note

Ngày 22 tháng 01 năm 2022 Kýhiệu: C22TVT

Mã CGï cấp: 00DH211207A06D4DDA98C24F95E6EB9897 Số hóa đơn: 1306

CONG TY TNHH NEM VAN THANH

Mã số thuế: 0301435068

Địa chỉ: Số 9 Đường Bùi Cấm Hồ, Phường Tân Thới Hoà, Quận Tân Phú, TP.Hố Chí Minh

Số điện thoại: 028.73008668

Họ tên người mua hàng:

Tên đơn vị: CÔNG TY CỐ PHẦN VƯỜN THÚ MỸ QUỲNH

2 ¡ Hànghỏa, - DrapComplo1m8 dịch vụ x2m0 soc trang Bộ 70 2030.578429 142.140.473 10%

Tông hợp thuế GTGT Tiên thuê GTGT én

Tổng tiền chịu thuế suất 8%:

Tổng tiền chịu thuê suất 5%:

Tổng tiền chịu thuế suất 0%:

Tổng tiền không chịu thuế GTGT

Tổng tiền không kê khai nộp thuế:

Tổng tiền chịu thuế suất khác:

Tổng tiền chưa thuế:

Tổng tiền thuế:

Figure 4.5: Invoice payment to supplier

Source: collected from My Quynh Zoo Corporation Task 3: Receipting of proposals and goods warehousing process

v¥ When receiving the proposal from the point of sale, the accountant will make a plan to import goods and submit it to the board of directors

¥ After approval, accountants contact suppliers to place orders, receive quotations and make payment requests for suppliers