7 ACCOUNTING FOR REVENUES, EXPENSES AND INCOME SUMMARY IN VIET ANH CONSTRUCTION DEVELOPMENT COMPANY LIMITED

Accounting entry for direct sales (for company applying

(1) Sales of goods (without VAT)

(Names of accounts – see Table 1.0)

+ For company applying direct VAT method (see Flowchart 1.2)

Accounting entry for direct sales (for company applying

(1) Sales of goods (with VAT)

- For sales through agents (see Flowchart 1.3)

Accounting entry for sales through agents

(2) Sales commissions payable to agents (as selling expenses)

(3) (Names of accounts – see Table 1.0)

Financial incomes are all incomes gained in relation to financial activities of the company, such as borrowings…

+Interest income such as: loan interest, deposit interest…

+Capital gain from disposing financial investments

+Gain from foreign exchange difference

+515 – Financial incomes This account has no balance.

Accounting entry for financial incomes

(1) Gain from selling and disposing financial investments

(2) Dividend and profit gained in form of new investments.

(4) Gains from foreign exchange difference incurred during the accounting period

(5) Allocating and recognizing pre – received financial income.

(6) Gains of foreign exchange difference incurred from revaluating monetary items based on foreign currencies at the end of the fiscal year.

(7) Transferring financial income to determine operation result

+Proceed of disposal of fixed asset;

+Gains from the revaluation materials, goods and fixed asset that are used to contribute or invest into associates or other long-term investment;

+Gains from contract compensation by the customers;

+Tax refund from the State Budget;

+Accounts unidentifiable as to whom they are payable;

+Sales-related tips or awards (if any offered by suppliers which are not included in sales)

+Gifts or donations in cash or in kind by organizations and individuals;

+711 – Other incomes This account has no balance

Accounting entry for others incomes

(1) Proceeds from disposal or sale of fixed assets

(2) Penalty gained from partners who break business contracts.

(3) Account receivable which previously – deleted is recovered in the period.

(4) Account payables to un-known creditors

(5) Allocation of pre - received income

(7) Transferring other income to determine operation result

+ 521 – Trade discount This account has no beginning and ending balance + Others: 111, 112, 131, 3331…

Accounting entry for trade discounts

(1) Value of trade discounts (without VAT)

(2) VAT payable of trade discounts

(3) At the end of the period, transfer the ending temporary balance of trade discounts to Acc 511

+ 531 – Sales return This account reflects the volume of goods which are returned due to the company’s mistakes Account 531 has no balance

Accounting entry for sales returns

(1) Value of sales return (without VAT)

(2) VAT payable of sales return

(3) Put the volume of goods returned into warehouse

(4) Incurred selling expense of goods returned

(5) At the end of the period, transfer the ending temporary balance of sales return to Acc 511

This account exclusively represents the sales allowances derived from VAT invoices as per the agreement between sellers and buyers It's important to note that price deductions specified in VAT invoices are not classified as sales allowances.

Accounting entry for sales allowances

(1) Value of sales allowances (without VAT)

(2) VAT payable of sales allowances

(3) At the end of the period, transfer the ending temporary balance of sales allowances to Acc 511

1.2.3 Organiz ing accounting for expenses

1.2.3.1 Accounting for Costs of goods sold

Expense of finished goods and merchandise goods sold (shortly called cost of goods sold) is the expense of goods determined at the time they are sold out.

According to VAS 2 - Inventory, cost of goods sold can be calculated by the following methods:

- First-in, First-out method

- Last-in, First-out method

COGS = Expense of Goods out of stock + Selling Expenses + Administration Expenses

For manufacturing companies: The value of goods for sale from stock or finished goods for direct sales not through warehouse is considered as cost of goods sold.

* Accounting entries for Cost of goods sold (COGS)

- For sales through agents (consignment sales)

The account for goods on consignment, numbered 157, represents the current value and availability of consigned items The ending balance indicates the volume of goods held by the agent that are not yet consumed, reflecting their stock levels.

+ Others: 632 – Cost of goods sold, 156 – Finished goods…

+ For perpetual inventory method (see Flowchart 1.9)

Accounting entry for COGS under perpetual inventory method (for

(1) Sales of finished goods from warehouse

(2) Sales of goods directly to agents not through warehouse

(3) Goods on consignment are returned bac

(4) Cost of goods sold transferred to Acc 632 at the end of the period

+ For periodic inventory method (see Flowchart 1.10)

Accounting entry for COGS under periodic inventory method (for

(1) The beginning balance of goods on consignment transferred to Acc 632 at the beginning of the period

(2) The value of goods on consignment in the period but have not been sold yet (Names of accounts – see Table 1.0)

Account used 632 – Cost of goods sold

This account reflects the value of goods and services which were sold and afterwards, the transfer of ending balance to account 911 – net income

+ Others: 156 – Finished goods, 911 – Net income…

+ For perpetual inventory method (see Flowchart 1.11)

Accounting entry for COGS under perpetual inventory method ( for

(1) The amount of goods for direct sales from warehouse

(2) The value of goods on consignment in the period which are returned back

(4) Cost of goods sold transferred to Acc 911 at the end of the period

+ For periodic inventory method (see Flowchart 1.12)

Accounting entry for COGS under periodic inventory method

(1) The ending balance of finished goods in stock transferred to Acc 611

(2) The value of goods issued to sell in the period

(3) Transfer the value of goods in transit and goods on consignment

(4) At the end of the period, value of goods sold transferred to Acc 632

(5) Transfer cost of goods sold to Acc 911

(6) The value of goods return

Financial expenses are all expenses incurred in relation to financial activities of the company, such as borrowings…

+Expenses related to financial investments such as: loss from investments, other

+Borrowing expenses such as: interest

+Expenses related to foreign currencies translation, loss from foreign exchange rate difference

+Other expenses related to financial activities

+635 – Financial expenses This account has no balance.

Accounting entry for financial expenses

(1) Recording losses of foreign exchanges difference incurred due to revaluation of monetary items based on foreign currencies at the end of the year

(2) Recording loses due to selling and disposing financial investments

(4) Provision for short and long term investments

(5) Interest paid, allocation of prepaid interests

(6) Losses of foreign exchange incurred due to transactions arising during the period

(8) Administration expenses allocated and transferred to determine operation results

- Definition: Administration expenses are all expenses incurred in relation to such activities as businesses, administration management, and others which are carried out in the company in general.

Officer’s salary expense; Office tools; Depreciation; Tax, fees and charges; Provision expense; Service rendered; and others

+642 – Administration expenses This account has no balance.

Accounting entry for Administrative expenses

(1) Office staff’s salary, wages and related social insurance, health insurance, trade union fees…

(2) Expenses and allocation expenses of supplies and tools.

(3) Deprecation of fixed assets used for general administration purposes

(4) Business tax, land rentals and other fees

(5) Provisions for doubtful debts and other provision payables for business restructuring, loss from risky contracts

(6) Services rendered and cash expenses.

(9) Administration expenses allocated and transferred to determine operation result (Names of accounts – see Table 1.0)

- Definition: Selling expenses are all expenses incurred in relation to selling process of goods and services

Sale staff salary expense; Packaging and indirect material expense; Depreciation expense; Warranty expense; Rendered services; and other expenses

- Principles of collection and allocation of selling expenses

Selling expenses are recognized when incurred and can be categorized into fixed and variable expenses At the end of the accounting period, these expenses are allocated to assess the overall business performance, using criteria such as the cost of goods sold or sales revenue for accurate determination.

+641 – Selling expenses This account has no balance.

Accounting entry for selling expenses

(1)Selling staff’s salary, wages and related social insurance, health insurance, trade union fees…

(2)Expenses and allocation expenses of supplies and tools.

(3)Deprecation of fixed assets used for selling and distribution purposes

(4)Provisions for warranty expenses or warranty expenses incurred without previous provision.

(5)Services and other expenses in cash.

(6)Reducing selling expenses (Reserve provision…)

(7)Selling expenses allocated and transferred to determine operation result

+Expenses from disposal and liquidation of fixed assets and their net book value. +Losses from revaluation of materials, goods and fixed asset which are contributed in joint ventures, associates…

+Compensation for breaches of contracts;

+811 – Other expenses This account has no balance

Accounting entry for others expenses

(1) Other expenses in cash arising

(2) Net book value of disposed fixed assets

(3) Other expenses due to disposing and selling fixed assets

(4) Penalty due to breaking business contracts of tax penalty

(5) Difference of revaluation price lower than net book value of the fixed assets brought to invest in joint ventures or associates

(7) Transferring other expenses to determine operation result

1.2.4 Organizing a ccounting for income summary

The income summary reflects the overall outcome of a business's regular and additional activities within a specific accounting period, resulting in either profit or loss In instances of loss, compensatory measures are determined by the relevant authorities, while profits are distributed according to established financial regulations.

Accounting entry for business results

(1) Transferring cost of goods sold

(2) Transferring selling and administration expenses

(3) Transferring financial and other expenses

(4) Recording corporate income tax payable

(5) Transferring net sales and internal sales

(6) Transferring financial and other incomes

(7) Transferring business result to Acc 421 in case of profit

(8) Transferring business result to Acc 421 in case of loss

Business results of enterprises include normal business results and other operating results Business results are usually the result of sales and financial activities

* Performance from sales activities = Total net revenue from sales activities - Cost of goods sold - Selling and administrative expenses

* Results from financial activities =Total net revenue on financial activities - Cost of financial activities

*Results from other activities = Other income - other expenses

If the difference is positive (+), then the business result is interest, and vice versa, if the difference is negative (-), the business result is a loss.

There are 4 systems of accounting forms: General journal; Journal voucher; General journal voucher; and Journal - Ledger.

The primary feature of this accounting system is its use of a General Journal to chronologically record all economic and financial transactions, while also maintaining relationships with corresponding accounts This information is then utilized to create related ledgers for the respective accounts.

- System of books: Normal daily journal, General journal, Ledgers for necessary accounts, and Detail accounts

- Accounting for sales and business result often uses following books: Sales journal; General journal; Ledgers for Acc 511, 641, 642 , 911; Sales detail book; and Detail payment book with customers…

- The most typical characteristic of this form is that Journal - Ledger is used as the only general book to record all economic and financial activities chronologically and systematically.

- System of books: Journal - Ledger; Detail books

- Accounting for sales and business result uses following books: Journal - Ledger; Detail sales book; Detail payment book with customers

All economic and financial activities of a company are documented through original vouchers, which are then classified and accumulated into a journal voucher book Subsequently, ledgers for the relevant accounts are prepared based on the information from the journal voucher.

- Using this form, recording under time order is separate from recording under systematical order.

- System of books: Journal voucher; Ledgers for necessary accounts; and Detail books.

- Accounting for sales and business result often uses following books: Journal voucher; Ledgers for Acc 511, 641, 642, 911…; Sales detail book; Detail payment book with customers

This form is characterized by the classification of all economic and financial activities documented in original vouchers, which are recorded in a general journal voucher At the end of the fiscal year, the information from the general journal voucher is compiled into the ledgers of the relevant accounts.

- System of books: General journal vouchers; Ledgers for necessary accounts;

Detail accounting books; and Others: Allocation table, list table for calculation…

- Accounting for sales and business result uses following books: General journal voucher; Ledgers for 511, 641, 642, 911…; Detail sales book; and Detail payment book with customers.

ACCOUNTING FOR REVENUE, EXPENSE AND INCOME SUMMARY IN VIET ANH CONSTRUCTION DEVELOPMENT

2.1 Overview about Viet Anh construction development company limited 2.1.1 History and development of company

Viet Anh Construction Development Company Limited was established in 2015 Formerly, Viet Anh Construction

Development Company Limited is only workshop for constructing a number of interior projects Besides favorable factors, this company has continuously improved and developed Now, Viet Anh Construction Development Company

Limited becomes a famous interior company From a construction workshop of just few workers, now Viet Anh

Construction Development Company Limited boasts a professional management system and a team of experienced and creative engineers and designers Having successfully completed hundreds of interior projects, this team consistently delivers unique solutions In 2019, the company expanded its operations in southern Vietnam with a 1000m2 construction workshop and a workforce of nearly 100 employees Currently, it is engaged in multiple projects across various provinces.

In the future, the company will constantly develop and expand to create more furniture products in Vietnam and even abroad.

2.1.2 Objectives and operation field of company

Viet Anh Construction Development Company Limited is a leading enterprise in Vietnam specializing in interior design and execution, focusing on residential and commercial projects The company also engages in house construction, public projects, furniture supply, wood furniture production, and building repairs Notable projects include the Flamingo Karaoke Rooms, Hoang Kim Karaoke Rooms, Luxury Bar, and Sai Gon Housing Interior projects Committed to delivering unique interior solutions, Viet Anh strives to enhance its operational system for growth and recognition both nationally and internationally.

Accounting Dept Technical Team Construction Team

The company director plays a crucial role in overseeing operations, working closely with the vice director With extensive professional qualifications, the director engages directly with clients to provide consultations on interior projects and finalize contracts Additionally, the director is responsible for making key decisions regarding construction plans.

The vice director oversees the company's departments, ensuring effective task distribution and supervision among employees while regularly reporting work progress to the director Additionally, they manage cash collection and payments, and play a key role in compiling construction plans, presenting the most efficient options to the director for consideration.

The accounting department plays a crucial role in a company's operations by managing various administrative functions Its primary responsibilities include generating invoices, tracking customer payments, ensuring compliance with accounting standards in financial reporting, managing contracts, estimating budgets, handling payables and payroll, and overseeing credit and tax obligations.

The Design Department consists of two teams: the 2D Design Team and the 3D Design Team This department is tasked with generating innovative concepts for interior products that are essential for the execution process The designers present these ideas through detailed 2D and 3D drawings, ensuring a comprehensive visual representation Currently, the department is staffed by 10 skilled designers.

A workshop is essential for construction, as it houses machinery and skilled workers who prepare materials before they are transported to the project site In this facility, five workers operate machinery, while ten focus on processing materials, contributing to a seamless workflow Once prepared, nearly 100 workers are involved in the actual construction at various projects, highlighting the workshop's critical role in the construction process.

2.1.4 Accounting system organization of the company.

The accounting department is tasked with managing various financial functions, including the preparation of invoices, tracking customer payments, and ensuring compliance with accounting standards in financial reporting Key responsibilities also encompass contract management, estimating budgets, overseeing payables and payroll, and handling credit and tax obligations This department is staffed by four professionals dedicated to maintaining accurate financial records and facilitating smooth financial operations.

The Chief Accountant plays a crucial role in overseeing the accounting department by dividing responsibilities and supervising the work of other accountants This position is essential for ensuring accurate financial reporting and tax declaration, as well as managing all accounting activities within the department.

An accountant is responsible for managing payroll and accounts receivable, ensuring accurate timekeeping and timely payment for employees Additionally, this role involves tracking and recording revenue generated from customers, which is essential for maintaining the financial health of the company.

- An administrative accountant is responsible for contracts and quotes This accountant is responsible for creating, repairing and printing contracts and quotes for each project.

- An accountant of invoices and vouchers This accountant's task is to create invoices, archives and gather invoices and vouchers.

Payroll and other receivables ccountant

2.1.4.1 Accounting form, applied accounting policy and reporting system at the company

Viet Anh CODE Co., Ltd utilizes the general journal accounting method and adheres to the accounting regulations outlined in Decision No 133/2016 – TT – BTC, issued by the Ministry of Finance on August 26, 2016.

- The company’s fiscal year starts on April 1st and ends on March 31rd of each year.

- Currency unit used is Vietnam Dong (VND)

- The inventory costing method applied is weighted average

- The company uses the periodic accounting system Viet Anh CODE Co.,Ltd is applying the deduction VAT method for VAT declaration and calculation.

 Cash Flow Statement (Form B03 – DN)

 Notes to Financial Statements (Form B09 – DN)

Beside, company uses the internal management reports to support the economic, financial, management as:

Viet Anh CODE Co., Ltd utilizes the general journal accounting method and adheres to the accounting regulations outlined in Decision No 133/2016 – TT – BTC, issued by the Ministry of Finance on August 26, 2016.

 Accounting books for sales and business result include: general journal

Besides, the company uses some of internal accounting books to support management tasks such as cash payment books, suppliers' liabilities, purchase materials

2.2 Accounting for Revenues, Expenses, income summary at Viet Anh

2.2.1 Accounting for revenues from sales and services rendering

REVIEW

Overview about Revenues, Expenses and Income summary

According to the IASB's Framework for the preparation and presentation of financial statements, revenue is defined as the increase in economic benefits during an accounting period This increase manifests as inflows or enhancements of assets, or as a reduction in liabilities, leading to a rise in equity, excluding contributions from equity participants.

Sales revenues from the sale of goods or services, interest income from bank deposits, and dividends from equity investments are all examples of income, often referred to as "R" in the income statement These terms are used interchangeably to represent the same concept of revenue generation.

In the income statement, income sometimes called sales R or R These are referred to like the same things.

Revenue in the income statement encompasses all earnings generated from the entity's primary activities, such as the sale of its main products or services, as well as income derived from non-operational activities.

In accounting, revenue recognition is governed by two main principles: cash basis and accrual basis Under the cash basis, income is recorded when cash is received, while the accrual basis recognizes revenue when the risks and rewards of ownership are transferred from the seller to the buyer, reflecting the moment control over goods or services is relinquished.

R is divided into “operating” and “non-operating.”

- Operating revenue is much like we’ve already described: income from sales, services provided, etc It’s the money you earn from the core activities of your business

Sales revenue represents the total economic benefits generated by an entity's regular activities within a specific period, leading to increases in equity that are not associated with contributions from equity participants Net sales, on the other hand, is calculated by subtracting sales deductions such as trade discounts, sale allowances, and sales returns from the total sales revenue.

- Non-operating revenue can be thought of as income on the side, perhaps passive.

It is money earned that falls outside your business’ core offerings And this is where the different types of revenue come in to play…

Regarding revenue, there are also revenues deductions:

A trade discount is a financial incentive offered by businesses to customers who purchase goods and services in large quantities This discount is applied as a reduction in price, based on an agreement between the seller and the buyer, encouraging bulk purchases and fostering customer loyalty.

- Sales allowances: Sales allowance is a reduction made when the goods are not the same specification as those mentioned in the economic contract.

Sales returns refer to the goods that customers return after purchase, typically due to issues such as breaches of contract, incorrect quantities, or unsatisfactory quality and specifications.

According to the IASB's Framework for the preparation and presentation of financial statements, expenses are defined as decreases in economic benefits during an accounting period, manifested through outflows, asset depreciation, or liability incurrence, leading to a reduction in equity, excluding distributions to equity participants These expenses primarily encompass the daily operational costs of a business.

Cost of goods sold, Salaries E, Depreciation, Interest E, Tax E, Utility E, Transportation Cost, Marketing E, Rental E, Repair and maintenance, Internet Fee, Telephone fee

Revenues are aligned with expenses during the specific period indicated in the income statement, rather than when the expenses are actually paid This practice exemplifies the fundamental accounting principle known as the matching principle.

There are several types of E The most common way to categorize them is into operating vs non-operating and fixed vs variable.

+Cost of Goods Sold (COGS)

+Selling, general, and administrative (SG&A)

+Salaries, benefits, and wages (sometimes fixed and sometimes variable)

+Marketing and advertising (sometimes fixed and sometimes variable)

An Income Summary (IS) account is a temporary account used to transfer the balances of Revenue (R) and Expense (E) accounts at the end of an accounting period The net balance in the IS account reflects the profit or loss for that specific period.

The IS account serves as a temporary holding place for all revenue and expense accounts at the conclusion of an accounting period The net amount moved to the IS account reflects the business's net profit or loss for that period To transfer revenue from the income statement, the total revenue recorded is debited from the revenue account, while the IS account is credited accordingly.

To effectively shift expenses out of the income statement, it is essential to credit all expense accounts for the total recorded expenses of the period and debit the income statement account This process marks the initial step in utilizing the income statement account correctly.

To properly manage the Income Statement (IS) account, if it shows a profit (credit balance), debit the IS account for the profit amount and credit the retained earnings account to transfer the profit Conversely, if the IS account indicates a loss (debit balance), credit the IS account for the loss amount and debit the retained earnings account to reflect the loss This process ensures that the IS account reaches a zero balance after the adjustments are made.

1.2 Organization of accounting for revenues, expenses and income summary

1.2.1 Requirements and roles of account ing for revenue s, expense s and income summary

To effectively manage revenues and expenses, determine business results, and allocate net income, accounting for revenues, expenses, and income statements must fulfill specific responsibilities.

- Fully, timely, accurately reflecting and recording occurred transactions and movements of each type of goods and products under quantity, quality, model and value;

- Fully, timely, accurately reflecting and recording sales, sales deductions and E of each business activity, as well as following and supervising customers’ receivables;

- Accurately calculating and reporting results of each transaction;

- Monitoring the implementation of state obligations and division process of business result;

- Interpreting accounting reports to information users Accounting information must be accurate, easy-to-read and useful.

Therefore, accounting for sales and business result must follow current regulated accounting standards, as well as be adaptable with the current status of the company’s accounting system.

Effectively implementing these professions can significantly enhance overall accounting productivity This improvement allows for more accurate accounting information, which is essential for directors and managers to make informed decisions, ultimately leading to increased business profitability.

1.2.2 Organizing of accounting for revenues

No English name Vietnamese name

Cash on hand Tiền mặt

Cash on hand (Viet Nam

Cash on hand (foreign currencies) USD

Tiền mặt (ngoại tệ) USD

Cash on hand (foreign currencies) JPY

Tiền mặt (ngoại tệ)JPY

Vàng, bạc, kim khí quý, đá quý

Cash in bank (Viet Nam Dong)

Tiền gửi ngân hàng (Việt Nam Đồng)

Cash in bank (foreign currencies)

Tiền gử ngân hàng(ngoại tệ)

Other short- term investment Đầu tư ngắn hạn

Phải thu của khách hàng

Thuế GTGT được khấu trừ

VAT deduction of goods, services

Thuế GTGT được khấu trừ của hàng hóa, dịch vụ

VAT deduction of goods and services purchased from local

Thuế GTGT được khấu trừ của hàng hóa, dịch vụ (Trong nước)

VAT deduction of imported goods

Thuế GTGT được khấu trừ của hàng hóa, dịch vụ (Nhập khẩu)

2 fixed assets được khấu trừ của hàng hóa, dịch vụ (Tài sản)

Phải thu nội bộ khác

Dự phòng phải thu khó đòi

Tạm ứng nhà cung cấp

Chi phí chờ kết chuyển

Short-term deposits, mortgages and collateral

Thế chấp, ký quỹ, ký cược ngắn hạn 26

Hàng mua đang đi đường

2 Raw materials Nguyê n liệu, vật liệu

Chi phí sản xuất kinh doanh dở dang

Provision for decline in Inventory

Dự phòng giảm giá hàng tồn kho 34

Tài sản cố định hữu hình

Nhà cửa, vật kiến trúc

Phươn g tiện vận tải, thiết bị truyền dẫn

Công cụ dụng cụ phân xưởng

39 213 Intangible fixed assets Tài sản cố định vô hình

40 2131000 Land use right Quyền sử dụng đất

41 2132000 Establishment & productive right Quyền phát hành

42 2134000 Trademark Nhãn hiệu hàng hóa

43 2135000 Software Phần mềm máy tính

44 2136000 License & concession license Giấy phép & giấy phép nhượng quyền

45 2138000 Other intangible fixed assets Tài sản cố định vô hình khác

46 214 Depreciation of fixed assets Hao mòn TSCĐ

47 2141 Tangible fixed assets depreciation Hao mòn TSCĐ hữu hình

48 2141100 Depreciation of building & architectonic model

Hao mòn nhà cửa, vật kiến trúc

49 2141500 Depreciation of machinery & equipment Hao mòn máy móc thiết bị

50 2141700 Depreciation of transportation & transmit equipment

Hao mòn phương tiện vận tải và truyền dẫn

51 2141800 Depreciation of instruments & tool Hao mòn công cụ ,dụng cụ

52 2143 Intangible fixed assets depreciation Hao mòn tài sản cố định vô hình

53 2143100 Depreciation of land use right Hao mòn quyền sử dụng đất

& productive right Hao mòn quyền phát hành

55 2143400 Depreciation of trademark Hao mòn nhãn hiệu thương hiệu

56 2143500 Depreciation of software Hao mòn phần mềm máy tính

57 2143600 Depreciation of license & concession license Hao mòn TSCĐ giấy phép và giấy phép nhượng quyền

58 2143800 Depreciation of other intangible fixed assets Hao mòn tài sản cố định vô hình khác

59 241 Capital construction in progress Xây dựng cơ bản dở dang

60 2411000 Fixed assets purchases Mua sắm TSCĐ

61 2412000 Capital construction Xây dựng cơ bản

62 242 Long-term Prepaid Expenses Chi phí trả trước dài hạn

63 243 Deferred Income Tax Assets Tài sản thuế thu nhập hoãn lại

64 244 Long-term collateral & deposit Kỹ quỹ ký cược dài hạn

65 311 Short-term loan Vay ngắn hạn

66 3111000 Short-term borrowings (VND) Vay ngắn hạn (VND)

67 3112000 Short-term borrowings (USD) Vay ngắn hạn (USD)

68 331 Payable to seller Phải trả cho người bán

69 333 Taxes and payables to state budget Thuế và các khoản phải nộp nhà nước

70 3331 Value added tax (VAT) Thuế GTGT phải nộp

71 3331100 VAT out-put Thuế GTGT đầu ra

72 3331200 VAT for imported goods Thuế GTGT hàng nhập khẩu

73 3332 Special consumption tax Thuế tiêu thụ đặc biệt

74 3333 Import and export duties Thuế xuất, nhập khẩu

75 3334 Profit tax (Corporate income tax) Thuế thu nhập doanh nghiệp

76 3335 Personal income tax (permanent employee) Thuế thu nhập cá nhân (lao động thường xuyên)

77 3338 Other taxes payable Các khoản thuế khác

78 334 Payable to employees Phải trả người lao động

79 335 Accruals Chi phí phải trả

80 336 Inter-company payables Phải trả nội bộ

81 338 Other payables Phải trả, phải nộp khác

82 3382000 Trade union fee payable Kinh phí công đoàn

83 3383000 Social insurance payable Bảo hiểm xã hội

84 3384000 Health insurance payable Bảo hiểm y tế

85 3388000 Other payables others Phải trả, phải nộp khác

86 347 Deferred income tax Thuế thu nhập hoãn lại phải trả

Quỹ dự phòng trợ cấp mất việc làm

88 411 Working capital Nguồn vốn kinh doanh

89 4111 Paid in capital Vốn đầu tư của chủ sở hữu

90 4111100 Paid in capital (Vietnam Dong) Vốn đầu tư của chủ sở hữu

91 4111200 Paid in capital (Japan) Vốn đầu tư của chủ sở hữu

92 4112000 Share premium Thặng dư vốn cổ phần

93 412 Differences upon asset revaluation Chênh lệch đánh giá lại tài sản

94 413 Foreign exchange differences Chênh lệch tỉ giá hối đoái

95 421 Undistributed earnings Lợi nhuận chưa phân phối

96 4211000 Previous year undistributed earnings Lợi nhuận chưa phân phối năm trước

97 4212000 This year undistributed earnings Lợi nhuận chưa phân phối năm nay

98 511 Sales Doanh thu bán hàng và cung cấp dịch vụ

99 5111100 Spare parts sales Doanh thu bán phụ tùng

0 5112100 Vehicles sales Doanh thu bán xe

1 5113100 Services sales Doanh thu cung cấp dịch vụ

2 5118000 Sales others Doanh thu khác

3 512 Internal Sale Doanh thu bán hàng nội bộ

4 515 Income from financial activities Doanh thu hoạt động tài chính 10

5 5151 Interest income Thu tiền lãi

6 5152 Foreign exchange gain Lãi chênh lệch tỉ giá

(others) Doanh thu hoạt động tài chính (khác) 10

8 521 Sale Discount Chiết khấu thương mại

9 531 Sale Returns Hàng bán bị trả lại

110 532 Sales allowances Giảm giá hàng bán

111 621 Direct raw material expenses Chi phí nguyên liệu, vật liệu trực tiếp

112 6211000 Direct raw material expenses import

Chi phí nguyên liệu, vật liệu trực tiếp nhập khẩu

113 6212000 Direct raw material expenses local Chi phí nguyên liệu, vật liệu trong nước

114 6218000 Direct raw material expenses others Chi phí nguyên liệu, vật liệu trực tiếp khác

115 622 Direct labour expenses Chi phí nhân công trực tiếp

116 6221000 Direct labour expenses wages Chi phí lương nhân công trực tiếp

117 6222000 Direct labour expenses social insurance Chi phí BHXH nhân công trực tiếp

118 6223000 Direct labour expenses health insurance Chi phí BHYT nhân công trực tiếp

119 6228000 Direct labour expenses others Chi phí nhân công trực tiếp

0 627 General operation expense Chi phí sản xuất chung 12

1 6271 Employee expense Chi phí nhân công

2 6271100 Staff labor expenses wages Chi phí luong nhân viên phân xưởng

12 6271200 Staff labor expenses social Chi phí BHXH nhân viên

4 6271300 Staff labor expenses health insurance

Chi phí BHYT nhân viên phân xưởng

5 6271800 Staff labor expenses others Chi phí nhân viên phân xưởng (khác) 12

6 6272 Material expense Chi phí nguyên vật liệu

7 6273 Tool and supplies (production) Chi phí dụng cụ sản xuất 12

8 6274 Fixed assets depreciation Chi phí khấu hao TSCĐ 12

9 6277 Outside purchasing services expense Chi phí dịch vụ mua ngòai

0 6278 General operation expense others Chi phí sản xuất chung khác 13

1 632 Cost of goods sold Giá vốn hàng bán

2 6321 Cost of goods sold Giá vốn hàng bán

4 63213 External service Dịch vụ thuê ngoài

5 63214 Direct labor Nhân công trực tiếp

6 63215 In-Direct expense Nhân công gián tiếp sản xuất 13

7 63218 Cost of goods sold others Giá vốn hàng bán khác 13

8 635 Financial activity expenses Chi phí hoạt động tải chính 13

9 6351 Interest expenses Chi phí lãi vay

0 6352 Foreign exchange loss Lỗ chênh lệch tỉ giá

1 641 Selling expenses Chi phí bán hàng

2 6411 Employees expense Chi phí nhân viên bán hàng

3 6411110 Staff labor expenses wages Chi phí tiền lương nhân viên bán hàng

14 6411120 Staff labor expenses social Chi phí BHXH nhân viên

5 6411130 Staff labor expenses health insurance

Chi phí BHYT nhân viên bán hàng

6 6411180 Staff labor expenses others Chi phí nhân viên bán hàng khác 14

7 6412 Selling expenses - Material, packing expenses

Chi phí bán hàng - vật liệu, bao bì

8 6413 Selling expenses - Tool expense Chi phí bán hàng - CP dụng cụ, đồ dùng 14

9 6414 Depreciation expenses Chi phí khấu hao TSCĐ

0 6415 Warranty expense Chi phí bảo hành

1 6417 Outside purchasing service expense Phí dịch vụ mua ngoài 15

2 6418 Other expense Chi phí khác

3 642 General administration expenses Chi phí quản lý chung

4 6421 Employees expense Chi phí nhân viên

5 6421100 Director labor expenses wages Chi phí lương giám đốc và nhân viên 15

6 6421200 Director labor expenses social insurance Chi phí BHXH giám đốc và nhân viên 15

7 6421300 Director labor expenses health insurance

Chi phí BHYT giám đốc và nhân viên

8 6421800 Employees expense others Chi phí khác

9 6422 Stationery expense Chi phí văn phòng phẩm

0 6423 Office tools & small equipments Chi phí đồ dùng văn phòng 16

1 6424 Fixed asset depreciation Chi phí khấu hao TSCĐ 16

2 6427 Outside purchasing service expense Chi phí dịch vụ mua ngoài 16

3 6428 Other expense Chi phí khác

4 711 Extraordinary income Thu nhập khác

5 811 Extraordinary expenses Chi phí khác

16 821 Corporate income tax Chi phí thuế TNDN

7 8211000 Current corporate income tax Chi phí thuế TNDN hiện hành 16

8 8212000 Deferred corporate income tax Chi phí thuế TNDN hoãn lại 16

9 911 Net Income Thu nhập sau thuế

1.2.2.1 Accounting for revenues from sales and services rendering

Sales revenue is recognized only when meeting all recognition conditions stipulated in Vietnamese Accounting Standards (VAS) No 14: Sales and other incomes.

Revenue from the sale of goods shall be recognized when all the following conditions have been satisfied:

- The entity has transferred to the buyer the significant risks and rewards of ownership of the goods;

- The entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- The amount of revenue can be measured reliably

- It is probable that the economic benefits associated with the transaction will flow to the entity; and

- The expenses incurred or to be incurred in respect of the transaction can be measured reliably.

Accounting vouchers and invoices used

- Payment voucher of goods on consignment

511 – Revenue from sales of goods and rendering of services

Others: 111 – Cash on hand; 112 – Cash in bank; 131 – Account receivables…

+For company applying deduction/subtraction VAT method (see Flowchart 1.1)

Flowchart 1.1: Accounting entry for direct sales (for company applying deduction/subtraction VAT method)