CQ55 51 06 TRẦN THÙY LINH ĐCCT

MINISTRY OF FINANCEACADEMY OF FINANCE ---STUDENT: TRẦN THÙY LINH GROUP: CQ55/51.06 RESEARCH PROPOSAL TOPIC: “PAYROLL ACCOUNTING AND SALARY DEDUCTIONS AT THAI PHU SERVICE, TRADING AND IN

MINISTRY OF FINANCE

ACADEMY OF FINANCE

-STUDENT: TRẦN THÙY LINH GROUP: CQ55/51.06 RESEARCH PROPOSAL

TOPIC: “PAYROLL ACCOUNTING AND SALARY DEDUCTIONS

AT THAI PHU SERVICE, TRADING AND INVESTMENT

COMPANY LIMITED”

Major : English for Finance and Accounting Student code : 17522202010183

Supervisor : Dr.Nguyen Thi Thuy Trang

Hanoi-2021 DECLARATION

I hereby declare that all the contents in this graduate thesis are my own work and effort with the guidance of Dr Nguyen Thi Thuy Trang All the sources of

information used in this thesis are cited clearly If there were any unauthorized

copies or fraud, I would take responsibility for them

ABSTRACT ACKNOWLEDMENTS

This graduate thesis could not be done without the help and advice of my teachers, my colleagues, my family and my friends So, I would like to express

my deep gratitude to all of them

First of all, I would like to express my appreciation to my teachers at Academy of Finance, who have imparted their knowledge during my 4 years of study That knowledge is an invaluable asset to my future work

Second, I would like to dedicate my sincere thanks to my supervisor, Dr Nguyen Thi Thuy Trang, lecturer of Faculty of Foreign Language She has given

me thoughtful guidance, careful instructions, and worthy advice throughout the process of completing this important thesis I’m so grateful for having her help and support

Last but not least, I would like to send to my partners and CEO of Thai Phu Servicing, Trading and Investment Co.Ltd for giving me opportunities to be able

to learn and improve my knowledge Moreover, I would like to thank accounting department’s staff who help me collect practical experience, documents, and figures to complete this graduate thesis

It is so difficult to say thanks to everyone, but I can sincerely say that without you, my thesis could have never been accomplished I truly appreciate you all Thank you so much!

Hanoi, February, 2021

Student Tran Thuy Linh

1 Rationale of the study

Salary is considered as one of the main policies of the socio-economy in

general and enterprises in particular It is directly related to production costs, product costs, is a measure of a country

To business, salary is a huge expense, is one of the key constituting product’s cost So It is an important to motivate employees work effectively Reasonable salary payment for employees will save living labor costs, contribute to lower product costs, increase revenue for businesses, support spirit for employees, stimulating them to pay attention to production, creating conditions for production development of enterprises and the entire national economy In the economic management mechanism, salary is an urgent issue,

so along with the current economic mechanism, the current economic mechanism requires constant innovation and improvement to suit the real needs of the economy

To solve this problem by the side of accounting in business, it is necessary to organize the work well and account the salary accurately to help enterprises manage the salary fund effective, ensure salary payment and social insurance is in accordance with the rules and regulations, ensuring the rights and interests of the employees and fulfilling their obligations towards the State That is why the calculation job and salary in enterprises is very important

2 Aims of the study

Research and recognize at the accounting for payroll and salary deductions in businesses in general and at the company Thai Phu Servicing, Trading and Investment Co.Ltd in particular

Find out the disadvantages and advantages in accounting work And then, make comments and make recommendations to help the company manage the payroll accounting work effectively

3 Scope of the study

The payroll accounting and salary deductions at Thai Phu Servicing, Trading and Investment Co.Ltd in September, 2020

4 Methodology of the study

4.1 Investigation, data collection and recording methods

By using the method: direct interview and research, study accounting books and reports from the finance department of the company to collect necessary data for the thesis

4.2 Analytical method

On the basic of data collected, through the screening and processing data from which to be fundamental for actual analysis of the company’s operations

4.3 The synthetic method

Through the synthesis of data and documents as the basis for conducting research

5 Organization of the study:

Apart from the Introduction, Conclusion, References and Appendices, the

study will be divided into three main sections:

Chapter 1: Literature review This chapter is about overview of accounting for

payroll and salary deductions

Chapter 2: The study This chapter is about the reality of payroll and deductions

from employees’ salaries in Thai Phu Servicing, Trading and Investment Co.Ltd

Chapter 3: Recommendation This chapter is about some constructive ideas to

better the accounting for payroll and deduction salaries in Thai Phu Servicing,

Trading and Investment Co.Ltd

CHAPTER 1: LITERATURE REVIEW

1.1 Basic features of payroll and salary deductions

1.1.1 definition of payroll and salary deductions

1.1.2 Concept, features and the useful of payroll and salary deductions

1.1.2.1 Concept on salary 1.1.2.2 Salary deductions 1.1.2.2.1 Social insurance fund 1.1.2.2.2 Health insurance fund 1.1.2.2.3 Trade union fees 1.1.3 Payroll funds and payroll regulations

1.1.3.1 Payroll funds 1.1.3.2 Salary system

1.1.3.2.1 Salary by hours 1.1.3.2.2 Salary by product 1.1.3.2.3 Other types of salary 1.2 Contents of accounting for payroll and salary deductions

1.2.1 Content of payroll accounting

1.2.1.1 Vouchers in use 1.2.1.2 Accounts in use 1.2.1.3 Methods of payroll accounting 1.2.2 Content of salary deductions accounting

1.2.2.1 Vouchers in use 1.2.2.2 Accounts in use

1.2.2.3 Method of accounting for salary deductions

CHAPTER 2: THE STUDY

2.1 Overview of Thai Phu Servicing, Trading and Investment Co.Ltd

2.1.1 Foundation and development

2.1.2 Functions and primary mission

2.1.3 Main feature framework of organization

2.1.4 Main feature of the company’s business activities

2.1.5 The main features of the company’s accounting system

2.1.5.1 Accounting system

2.1.5.2 Features of accounting task

2.2 The main features of payroll accounting and deductions from employees’ salary in Thai Phu Servicing, Trading and Investment Co.Ltd

2.2.1 Payroll accounting

2.2.1.1 Contents of payroll accounting

2.2.1.2 Forms of paying salary

2.2.1.3 Vouchers used for computing payroll

2.2.1.4 Accounts used for computing payroll

2.2.1.5 Methods of computing payroll

2.2.2 Contents of salary deductions in the company

2.2.2.1 Contents of deduction salaries in the company

2.2.2.2 Accounts used in the company

2.2.2.3 Book-keeping registers used in the company

2.2.2.4 Order of accounting for deduction salaries in the company

CHAPTER 3: RECOMMENDATIONS

3.1 General comments on accounting for payroll and salary deductions

3.2 Some constructive ideas to make good payroll accounting’s weakness

3.2.1 The weakness

3.2.1 Constructive ideas to make good accounting’s weakness for payroll and salary deductions

3.3 Conclusion reference