Accounting Internship Report

National Economics University School of AEP
NATIONAL ECONOMICS UNIVERSITY

SCHOOL OF ADVANCED EDUCATIONAL PROGRAMS
ACCOUNTING INTERNSHIP REPORT

At: North Central Electricity Development and Investment Joint Stock
Company
Student’s name: Nguyen Huong Quynh
Student’s ID: 11194477
Class: Auditing 61B EEP
Supervisor: Ph.D. Dang Thi Thuy Hang
Ha Noi 9/7/2022
TABLE OF CONTENTS
FOREWORD.................................................................................................................
CHAPTER 1: OVERVIEW OF NORTH CENTRAL ELECTRICITY
DEVELOPMENT AND INVESTMENT JOINT STOCK COMPANY........................
1.1. History of formation and development of North Central Electricity
Development and Investment Joint Stock Company..............................................7
1.1.1 General information about North Central Electricity Development and
Investment Joint Stock Company.......................................................................7
1.1.2. History of formation and development of North Central Electricity
Development and Investment Joint Stock Company.........................................12
1.2. Features of business operations of North Central Electricity Development
and Investment Joint Stock Company..................................................................13
1.2.1. Functions and duties of North Central Electricity Development and
Investment Joint Stock Company.....................................................................13
1.2.1.1. Functions of the Company................................................................13
1.2.1.2. Duties of Company...........................................................................14
1.2.2. Features of business activities of North Central Electricity Development
and Investment Joint Stock Company...............................................................15
1.2.3. Features of business organization of North Central Electricity
Development and Investment Joint Stock Company.........................................16
1.3. Features of organization management of North Central Electricity
Development and Investment Joint Stock Company............................................17
1.4. Overall assessment of the company's production and business results..........23
CHAPTER 2: CHARACTERISTICS OF THE ACCOUNTING SYSTEM AT
NORTH CENTRAL ELECTRICITY DEVELOPMENT AND INVESTMENT
JOINT STOCK COMPANY.......................................................................................
2.1. The accounting apparatus at Company..........................................................27
2.2. The accounting system at the North Central Electricity Development And
Investment Joint Stock Company.........................................................................29
2.2.1. Accounting policies................................................................................29
2.2.2. Accounting voucher system....................................................................34
2.2.3. Accounting accounts system...................................................................36
2.2.4. Bookkeeping system...............................................................................40
2.2.5. Accounting reporting system..................................................................42
Internship Report – Nguyen Huong Quynh

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2.3. Some main accounting procedures at the Accounting Department of North
Central Electricity Development and Investment Joint Stock Company..............43
2.3.1. Payroll accounting and payroll deductions at the Accounting Department
of North Central Electricity Development and Investment Joint Stock Company
.......................................................................................................................... 43
2.3.1.1. Characteristics of working at the Company......................................43
2.3.1.2. Regulation on salary, bonus and support for employees of North
Central Electricity Development and Investment Joint Stock Company.......44
2.3.1.3. Salary payment methods and salary calculation methods.................47
2.3.1.4. Regulations on deduction and payment of deductions according to
salary.............................................................................................................59
2.3.1.5. Other welfare expense regime..........................................................61
2.3.1.6. Voucher used and the process of circulating payroll accounting
Vouchers at North Central Electricity Development and Investment Joint
Stock Company.............................................................................................62
2.3.1.7. Book of use and order of recording..................................................65
2.3.1.8. Payroll accounting and payroll deductions at North Central
Electricity Development and Investment Joint Stock Company....................67
2.3.2. Sales accounting and determination of sales results................................81
2.3.2.1. The sale forms..................................................................................81
2.3.2.2. Principles and methods of revenue and income recognition.............81
2.3.2.3. Vouchers and rotation of Vouchers..................................................81
2.3.3.4. Books used and order of recording books.........................................82
2.3.2.5. Sales accounting...............................................................................83
2.3.2.6. Accounting for sales and business management...............................89
2.3.2.7. Accounting to determine sales results...............................................92
CHAPTER 3: ASSESSMENT OF ACCOUNTING ORGANIZATION AND
ACCOUNTING SYSTEM AT NORTH CENTRAL ELECTRICITY
DEVELOPMENT AND INVESTMENT JOINT STOCK COMPANY......................
3.1. Assessment of accounting organization.........................................................93
3.1.1. Comments on management.....................................................................93
3.1.1.1. Advantages.......................................................................................93
3.1.1.2. Disadvantages...................................................................................93
3.1.2. Comments on accounting work...............................................................94

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3.1.2.1. Advantages.......................................................................................94
3.1.2.2. Disadvantages...................................................................................94
3.2. Recommendations to the organization of accounting at North Central
Electricity Development and Investment Joint Stock Company...........................94

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TABLE OF FIGURE
Figure 1. 1: Certificate of enterprise registration joint-stock company....................11
Figure 1. 2: Profit and Loss Statement in 2020........................................................23
Figure 2. 1: Timesheet summary at North Central Electricity Development and

Investment Joint Stock Company in January...........................................................69
Figure 2. 2: Salary advance table of the Executive Board in January......................70
Figure 2. 3: Advanced table of office salary in January...........................................71
Figure 2. 4: Factory salary advance table in January...............................................73
Figure 2. 5: Advance contract salary for January 1.................................................74
Figure 2. 6: List of deductions and payments according to the monthly salary.......75
Figure 2. 7: Distribution of salary and social insurance in January.........................76
Figure 2. 8: January's corporate income tax calculation table..................................79
Figure 2. 9: VAT invoice with a list of electricity produced by North Central
Electricity Development and Investment Joint Stock Company..............................84
Figure 2. 10: Minutes of confirmation of meter readings and power output of Doc
Cay Hydropower Plant/Power Plant of North Central Electricity Development and
Investment Joint Stock Company............................................................................85
Figure 2. 11: Application form for payment of North Central Electricity
Development and Investment Joint Stock Company...............................................86
Figure 2. 12: Voucher to the State Budget of North Central Electricity Development
and Investment Joint Stock Company.....................................................................87
Figure 2. 13: VAT invoice.......................................................................................89
Figure 2. 14: Sale invoice........................................................................................90
Figure 2. 15: Formula to determine sales results – “Source: Circular 200/2014/TT-
BTC”....................................................................................................................... 91
Figure 2. 16: Formula to determine net sales from sales – “Source: Circular
133/2016/TT-BTC”..91

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TABLE OF TABLE
Table 1. 1: Profit and Loss Statement in 2020.........................................................24
Table 2. 1: Labor and salary vouchers.....................................................................34

Table 2. 2: Accounting vouchers for sales...............................................................35
Table 2. 3: Financial accounting vouchers..............................................................35
Table 2. 4: Accounting vouchers for fixed assets....................................................36
Table 2. 5 Accounting accounts system...................................................................40
Table 2. 6: Reports used at the company.................................................................43
Table 2. 7: Sign convention on timesheets..............................................................52
Table 2. 8: Table 1 - Appendix 1.............................................................................53
Table 2. 9: Table 2 - Appendix 1.............................................................................55
Table 2. 10: Table 3 - Appendix 1...........................................................................55
Table 2. 11: Appendix 2..........................................................................................58
Table 2. 12: The insurance deduction rate in the period from January 1, 2021, to the
end of June 30, 2021................................................................................................59
Table 2. 13: The insurance deduction rate in the period from July 1, 2021, to the end
of September 30, 2021.............................................................................................60
Table 2. 14: The insurance deduction rate in the period from October 1, 2021, to the
end of June 30, 2021................................................................................................60
Table 2. 15: Other welfare expense regime.............................................................61
Table 2. 16: Entity table of document rotation in the payroll cycle and payroll
deductions...............................................................................................................63
Table 2. 17: The table describes the accounting work of the salary module............68

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TABLE OF DIAGRAM
Diagram 1. 1: Organizational chart of management – “Source: Accounting
Department”............................................................................................................18
Diagram 1. 2: The accounting apparatus of Company.............................................27
Diagram 2. 1: Order of recording accounting books in the form of machine

accounting books.....................................................................................................41
Diagram 2. 2: The process of document rotation in the payroll cycle and payroll
deduction................................................................................................................. 62
Diagram 2. 3: Order of recording transactions related to payroll and payroll
deductions at the Company......................................................................................64
Diagram 2. 4: Order of rotation of the Company's wholesale business vouchers....80
Diagram 2. 5: Order of recording bookkeeping.......................................................81

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INTRODUCTION
The electricity industry is a technical and economic sector that plays an extremely
important role in the national economy. During its formation and development, the
electricity industry has always effectively completed the political, and socio-
economic tasks assigned by the party and state, making a worthy contribution to the
struggle to protect and liberate the country in the past, and the renovation and
construction of the present country, carry out industrialization and modernization,
and constantly improve people's living standards.
Realizing this, I applied for a 2-month internship at of North Central Electricity

Development and Investment Joint Stock Company after studying subjects related
to accounting and school requirements. With the knowledge learned in class and
useful information accumulated during the internship, I would like to introduce the
Accounting Internship Report to learn about the characteristics of the accounting
system at the North Central Electricity Development And Investment Joint Stock
Company.
This report is structured in 3 parts:
Chapter 1: Overview of North Central Electricity Development and Investment

Joint Stock Company
Chapter 2: Characteristics of the accounting system at North Central Electricity

Development And Investment Joint Stock Company
Chapter 3: Assessment of accounting organization and accounting system at North

Central Electricity Development And Investment Joint Stock Company
Despite our best efforts, due to the short internship period and limited knowledge,
the internship report inevitably contains shortcomings and subjective and
incomplete judgments. I look forward to receiving Teacher's comments to improve
the report. Thank you sincerely.

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CHAPTER 1: OVERVIEW OF NORTH CENTRAL ELECTRICITY
DEVELOPMENT AND INVESTMENT JOINT STOCK COMPANY
1.1. History of formation and development of North Central Electricity

Development and Investment Joint Stock Company
1.1.1 General information about North Central Electricity Development and

Investment Joint Stock Company
North Central Electricity Development and Investment Joint Stock Company was
established on September 5, 2006, by the Department of Planning and Investment of
Thanh Hoa province, with a business registration certificate.
Company name:
+ Company name is written in English: NORTH CENTRAL ELECTRICITY

+ Company name is written in Vietnamese: CÔNG TY CỔ PHẦN ĐẦU TƯ VÀ

PHÁT TRIỂN ĐIỆN BẮC MIỀN TRUNG
Legal type: Joint-stock company
Tax code: 2800999955 was first issued by the Department of Planning and
Investment of Thanh Hoa Province on September 5, 2006, and registered for the
fourth change on December 19, 2014
Head office: Luong Son Commune, Thuong Xuan District, Thanh Hoa Province,
Vietnam
Phone/ Fax: (+84) 378 962009
Email: neco_hn@yahoo.com.vn
Charter capital: 87,000,000,000 VND
The number of existing employees: 35 employees including directors, employees,

and workers.
With high professional qualifications, bachelor's degree, engineer or higher.

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Business lines according to the company's business registration certificate:
North Central Electricity Development and Investment Joint Stock Company

operates with the main business line of Producing and trading in electricity;
Construction of civil engineering works (Details: Construction of industrial works,
electricity, water supply, and drainage, technical infrastructure engineering). And
other industries such as: Electricity generation, transmission, and distribution;
Construction of houses of all kinds; Construction of public works; Architectural
activities and related technical consultancy; Production of building materials;
Wholesale of materials and other installation equipment in construction; Real estate
business; Hotel business; Restaurant business; Marine aquaculture; Plant trees and
take care of the trees; Producing materials from wood;…
Date of establishment: September 5, 2006
Business registration license (Appendix 1.1)
1.1.2. History of formation and development of North Central Electricity

North Central Electricity Development and Investment Joint Stock Company was
established in 2006 under the business registration certificate No. 2800999955 of
the Department of Planning and Investment of Thanh Hoa province, issued on
September 5, 2006 (issued for the second time). 4, December 19, 2014).
Legal representative: Mr: Nguyen Van Nhat – Title: Director.
North Central Electricity Development and Investment Joint Stock Company has a
team of highly qualified engineers with extensive experience, and is a dynamic and
creative united labor collective, fully equipped with construction equipment. All
types and specialties, self-sufficient financial resources. After nearly 16 years of
construction and development with constant changes, up to now, the company has
achieved certain achievements such as North Central Electricity Development and
Investment Joint Stock Company is one of the leading power suppliers in Vietnam.
Supplying electricity to Electricity of Vietnam (EVN), which is the investor of Doc

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Cay Hydroelectricity Station with an installed capacity of 15 MW built-in Luong
Son commune, Thuong Xuan district, Thanh Hoa province. This is a project to take
advantage of the flow of irrigation water taken through the Doc Cay Tunnel to
irrigate 32,831 hectares of arable land in the North Chu River - South Ma River
areas of the Cua Dat Reservoir project to build a hydroelectric station according to
the irrigation, chart to sell commercial electricity to the national grid. The
construction investment project of Doc Cay Hydroelectricity Station, established by
Irrigation Construction Consulting Company 1, has been approved by the Board of
Directors of North Central Electricity Development and Investment Joint Stock
Company in Decision No. 09 /2007/QD-HĐQT dated 25/05/2007. Although the
establishment time is not as long as other large hydroelectricity plants, the company
has built and affirmed its brand name in the market, next to big competitors such as
Cua Dat Hydroelectricity Plant, etc. Hoa Binh Hydroelectricity Plant,...
Over the years, the Company's revenue and profit have grown steadily. The
company is always interested in improving the welfare regime, improving the living
standards, and increasing incomes for employees. Along with that, the company
always complied and fulfilled the target of paying to the state budget, making
timely payments of credits with partners, and was continuously ranked A customer
by the Bank.
In order to survive in the increasingly fierce competition market and meet the
increasing requirements of the market as well as the continuous development of the
country, the Company has built its own strategy, in which the focus is on: Investing
in high-quality human resources, fostering and improving the qualifications of
employees; The Company constantly innovates technology, equips modern
construction machinery and equipment, applies scientific and technical advances to
innovate construction methods in a modern and advanced direction. Thereby, has
created a reputation with investors, and at the same time creating a solid foundation
for the Company to develop in new conditions.

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1.2. Features of business operations of North Central Electricity Development
and Investment Joint Stock Company
1.2.1. Functions and duties of North Central Electricity Development and

1.2.1.1. Functions of the Company
To organize production and business in accordance with the lines registered with
the competent authorities of the State. Business lines of North Central Electricity
Development and Investment Joint Stock Company:
Producing and trading in electricity; participating in the competitive power supply

market. Producing and trading building materials. Trading in houses and offices;
Restaurant, hotel business. Cultivation, processing, and export of agricultural,
forestry, and aquatic products.
Construction of technical works, electricity, water supply, and drainage, technical

infrastructure. Planning, investment projects, verification, and appraisal of
construction projects of technical works; survey, design, and test hydroelectricity;
management and construction supervision of projects, works of water supply and
drainage, electricity—dynamics, civil construction, and specialized services.
Consulting and appraisal of construction investment projects; Construction

investment project management consulting; Construction supervision consultancy
(including installation of technological equipment); Consulting on making and
evaluating bidding Vouchers; Evaluation of bids for construction design,
procurement of materials and equipment; Consultancy on making and appraising
the design, cost estimate, total cost estimate of the project.
In addition, the Company needs to comply with the regulations of the Ministry of
Labor – Invalids and Social Affairs on signing labor contracts, and prioritizing the
use of local workers. Implement periodical statistical reporting regimes in
accordance with State regulations.

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1.2.1.2. Duties of Company
For the market and customers: The Company organizes production and business to
meet the market's demand in a timely manner in terms of power supply;
construction of technical works; supply of materials for production and business
with high quality and efficiency… The Company fully fulfills its commitments to
customers in terms of quality, and service, and satisfactorily settles beneficial
relationships and benefits with customers on the principle of equality and mutual
benefit.
For the State and the community: The Company ensures compliance with the law,
fulfills tax payment obligations, and adheres to the unified accounting regime.
For shareholders and investors: The Company is responsible for preserving and
growing capital, at the same time expanding the scale of production and business
and increasing profits.
For employees in the company: The company has a training mission, taking care
of, and fostering skills and professionalism for employees. Fully implement the
regimes and policies of the State for employees. Implement the monthly salary
payment regime on the basis of the registered salary fund and salary unit price.
Rewarding individuals and groups with outstanding achievements contributing to
the completion of the company's production and business plan. Implement social
insurance and health insurance policies; always improve working conditions, invest
in labor protection, and environmental sanitation, and strictly implement the regime
of rest and toxic training to ensure the health of employees. In addition, it is
constantly improving the culture and life of employees. Building security forces,
preventing fire and explosion, coordinating with local authorities to maintain
political security and social order and safety, and ensuring absolute safety for
people and property of the Company. Fulfilling the obligation of national security
and defense of the whole people.

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For public and social welfare: Every year, the Company has money to take care of
Heroic Mothers, and martyrs' families, build many gratitude houses, and charity
houses, and take care of and support households. Policy – poor households,
installation of electricity – water meters without charge for poor households, policy
households, etc. Participate in contributing to welfare funds mobilized by the
government and mass organizations every year.
1.2.2. Features of business activities of North Central Electricity Development

and Investment Joint Stock Company
operates with the main business lines of electricity production and trading;
Construction of civil engineering works and specific related industries as follows:
(1) Construction of other civil engineering works
Details: Construction of industrial works, electricity, water supply, and drainage,

technical infrastructure
(2) Electricity generation, transmission, and distribution
Details: Producing and trading in electricity
(3) Building houses of all kinds
(4) Construction of public works
(5) Architectural activities and related technical consulting
Details: Electrical engineering design consultancy
(6) Other production, n.e.c
Details: Production of building materials
(7) Wholesale of other installation materials and equipment in construction
Details: Wholesale of building materials
(8) Trading in real estate, land use rights of owners, users, or tenants

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Details: Housing and office business
(9) Short stay service
Details: Hotel business
(10) Restaurants and mobile catering services
Details: Restaurant business
(11) Marine aquaculture
(12) Afforestation and forest care
(13) Processing and preserving aquatic products and aquatic products
(14) Manufacture of other wood products; produce products from bamboo, cork,
straw, and plaiting materials
1.2.3. Features of business organization of North Central Electricity

Electricity production and business process of Doc Cay Hydroelectric Plant
Consists of 4 main phases:
- Phase 1: Taking advantage of irrigation water for the downstream area, the water
flow with great pressure flows through large steel pipes called pressure water pipes,
creating giant water columns with great pressure going inside the factory.
- Phase 2: Strong flowing water turns the generator's turbine, and mechanical
energy is converted into electricity.
- Phase 3: The generated electricity goes beyond the transformer to generate a high-
voltage current and is transmitted to the 35KV Muc Son station for coordination and
transmission by Thanh Hoa Electricity.
- Phase 4: On the last day of the month in Thuong Xuan district, electricity will
close the meter and send the data to the Northern Electricity Corporation for making
payment Vouchers.

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1.3. Features of organization management of North Central Electricity
North Central Electricity Development and Investment Joint Stock Company is

organized and managed according to the model: General Meeting of Shareholders,
Board of Directors, Director, Under the Director there are Deputy Directors to
operate the Blocks, and each of the Block has departments operating according to
separate functions.
North Central Electricity Development and Investment Joint Stock Company with a
total of 35 employees, including:
- Executive Board: 04 people, Director of the Company, Deputy Director of the

Company in charge of finance – planning, Deputy Director of the Company in
charge of production, and Chief Accountant of the company.
- Department of Finance – Planning: 5 people (concurrently).
- Administration – General Department: 5 people (concurrently).
- Electromechanical management department (concurrent).
- Doc Cay Hydroelectric Plant: 24 people.
+ Factory leadership: 02 people (concurrent), Director and Deputy Director of the

Factory.
+ Technical staff: 02 people (concurrently)
+ Operation crew: 15 people (05 shift leaders, 10 electromechanical staff)
+ Electricity line repair and operation team: 05 people.
With a total of 35 employees, the Company has ensured enough employees suitable
for the job requirements to operate most effectively. Minimize human resources to
increase income for important positions and optimize profits for the Company.
Particularly for Doc Cay Hydroelectric Plant, the characteristics of having to

manage, repair and operate an additional 20 km of 35kV transmission lines,

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coordinate in operation, repair, and maintain equipment at 110kV Tho Xuan BA
Station, coordinate and support repairing equipment at the water inlet, regulating
5.3 km of the discharge channel. Therefore, the number of 24 people will ensure the
tasks that must be performed quickly, accurately, and timely, and maintain
production on a regular basis continuously, ensuring output, revenue, and profit for
the company. All costs incurred are minimized because there are on-site human
resources who can do it themselves.
GENERAL
MEETING OF
SHAREHOLDER
S
BOARD OF
SUPERVISORS
BOARD OF
DIRECTORS
EXECUTIVE
BOARD
General Administration Management

Department Electromechanical
Department
Finance and Planning Doc Cay Hydroelectric

Department Plant
Diagram 1. 1: Organizational chart of management

“Source: Accounting Department - 2022”
The functions, powers, and duties of leaders and departments in the company
can be summarized as follows:

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General Meeting of Shareholders: The General Meeting of Shareholders is
responsible for setting the general goals, orientations, and development strategies
for the company. Elect, dismiss and remove members of the Board of Directors and
Supervisors. Decide to amend and supplement the company's charter. Through the
annual financial report. Review and handle violations of the Board of Directors and
Control Board, causing damage to the company and its shareholders. Decide to
reorganize and dissolve the company. Decide on the class of shares and the total
number of shares of each type that are entitled to offer for sale. Decide the annual
dividend rate of each class of shares.
Board of Supervisors: The Supervisory Board has the function of supervising
the Board of Directors and the General Director in the management and
administration of the company. The Supervisory Board is responsible before the
General Meeting of Shareholders in performing the assigned tasks.
Board of Directors: The Board of Directors has the right to elect, remove or
dismiss the Chairman of the Board of Directors. Appointment, dismissal, signing of
contracts, termination of contracts for the Board of Directors, important managers in
the company. Supervising and directing the Director and other managers in the
company in running the daily business. Submit the annual financial settlement
report to the General Meeting of Shareholders. Decide the selling price of shares
and bonds of the company. The Board of Directors includes the Director and
Deputy Director in charge of Finance – Planning, Deputy Director in charge of
production
Director: The director is the person responsible for operating the production
and business activities of the company, responsible for planning the implementation
of the objectives, orientations, and strategies set out by the General Meeting of
Shareholders. Manage and be responsible for the entire day-to-day operations of the
company. Ensure the company's current and future goals are met as per
management's expectations in terms of sales growth, profitability, product quality
and other activities. Evaluate the performance of the components. Solve problems
arising on a daily basis according to the company's regulations and the law.

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Deputy Director in charge of Finance – Planning: As a support person for
the Director, assigned by the Director in charge of management, strategic planning
Finance – Planning, operating activities related to Finance – Company plan.
Review, evaluate, test and analyze financial performance forecasts – departmental
plans, contracts. Ensure that the assets of the Enterprise are controlled and used in a
reasonable and profitable way.
Deputy Director in charge of production (Factory Director): Deputy
Director of Production Division is responsible for receiving the production plan,
organizing and implementing the plan to achieve the production plan to ensure
technical standards, Product quality, productivity before the director. Responsible
for well implementation of the company's regulations on labor management, asset
management and production management. Responsible for coordinating with
departments to implement the daily, weekly, and monthly reporting regime.
Implement and handle technical quality related issues in production, research, and
development of new products. Efficient production organization, reasonable
premises. Establish production norms (materials, labor, …) for each product.
Formulate development projects and operational plans in professional and
professional fields.
General Administration Department: General Administration Department is
a functional department that performs 3 main tasks. Firstly, Administrative work –
administration: Recruitment, training, management of staff, specialists, reasonable
coordination; manage personal records of employees, monitor, and update all
personnel changes and periodically report. Performing the calculation of salary,
bonus and related regimes such as social insurance, health insurance,
unemployment insurance; properly and promptly handle the transfer, discipline,
leave in accordance with the labor law, regulations, and policies for employees.
Coordinate planning, organization of movements, events, corporate activities of the
company. In addition, the Administration – General Department manages all assets
and equipment of the Company. Second, Construction management: Management
of incident acceptance, maintenance, and warranty work; Construction engineering

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management; Management of occupational safety, fire, and explosion prevention.
Third, Economic work: Advising and assisting the Director in business
development, dealing with relevant regimes and policies, norms and expense items
according to the State's regulations.
Finance and Planning Department: The Department manages, inspects,
guides and implements the accounting, financial and asset management regimes in
accordance with the state ordinances, the company's charter and financial
regulations. Responsible for managing financial activities, making financial plans
on a monthly, quarterly and annual basis, and periodically reporting or reporting at
the request of the leadership on the financial situation of the company. Evaluate
financial activities, propose measures to improve financial performance. Managing
the organization of the financial and accounting apparatus in the whole system and
in each development stage of the company.
Electromechanical Management Department: Advise the Company's
leadership on the maintenance, repair, and maintenance of the plant's technological
equipment. Management of hydromechanical engineering, technological equipment.
Participate in the supervision and installation of hydraulic systems and
technological equipment. Manage the history and quality of equipment, update
equipment status, supplies, maintenance, and repair content. Check and supervise
the repair, installation, testing, and adjustment according to the process. Regularly
check labor safety measures to ensure compliance with industry standards
promulgated by the State. Immediately suspend the work at risk of unsafely.
Doc Cay Hydroelectric Plant: Doc Cay Hydroelectric Plant is a unit of North
Central Electricity Development and Investment Joint Stock Company. Performing
power production at Doc Cay Hydroelectric Plant and other tasks as assigned by the
Company. The plant's organizational structure includes the Board of Directors, the
Operation Board and the Repair and Management Team of the 35kV line. The
Board of Directors of the Factory is responsible for managing, operating and
planning all production and business activities of the factory. The Operation Board
directly manages and operates production machinery and equipment in accordance

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with the process, maintenance, and industrial hygiene regime to ensure stable and
backup operation, always in a state of readiness for operation best practice. Repair
team – 35kV line manager directly manage, repair and periodically broadcast the
35kV line from the Factory to the 110kV Tho Xuan substation; periodic repair and
maintenance of machinery, mechanical and electrical equipment of the Plant,
transformer stations and lighting system throughout the Company.
1.4. Overall assessment of the company's business results
Profit and Loss Statement in 2020 (Appendix 1.1)
Table 1. 1: Compare Profit and Loss Statement in 2020 – 2021

2020 2019 Difference
Items Amoun Amoun Amoun
t % t % t %
Revenue from sales
of goods and
(16,201
provision of services
61,474 77,675 )
Revenue deducctions
0 0 0
100.0 100.0 (16,201 (20.86
Net revenue
61,474 0 77,675 0 ) )
Cost of sales
28,152 45.79 21,957 28.27 6,195 28.21
(22,396 (40.20
Gross profit
33,322 54.21 55,718 71.73 ) )
Financial income
8,003 13.02 5,759 7.41 2,244 38.97
Therein: Financial
(15.71
expenses
6,669 10.85 7,912 10.19 (1,243) )
(15.71
Interest expenses 6,669 10.85 7,912 10.19 (1,243) )
Selling expenses
0 0.00 0 0.00 0
General and
administration
expense 3,582 5.83 3,313 4.27 269 8.12

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(19,178 (38.16
Net operating profit
31,074 50.55 50,252 64.70 ) )
(68.42
Other income 36 0.06 114 0.15 (78) )
(83.33
Other expenses 5 0.01 30 0.04 (25) )
(63.10
Other profit 31 0.05 84 0.11 (53) )
(19,231 (38.21
Profit before tax
31,105 50.60 50,336 64.80 ) )
Income tax expense -
(56.59
current
1,101 1.79 2,536 3.26 (1,435) )
Income tax expense -
deferred
0 0 0 0 0 0
(17,796 (37.23
Net profit after tax
30,004 48.81 47,800 61.54 ) )
From the above table, it can be seen that the company's business results are
declining: Total profit after tax this year is VND 30,004 million, last year was VND
47,800 million. Profit after tax for both years is positive, indicating that the
company is operating profitably. Profit after tax this year compared to the previous
year decreased by 17,796 million, a rate of 37.23%. For a more comprehensive
assessment, a detailed analysis is required.
Sales Activities:
• Net revenue from selling goods and providing services: This year, compared to the
previous year, decreased by 16,201 million VND (equivalent to 20.86%), showing
that revenue from the central business is electricity production and trading
decreased compared to the previous year. This happened due to the following
principal reasons: the direct influence of the complicated developments of the
COVID-19 epidemic, which significantly affected the demand for electricity.
Especially, the time of separation caused industrial parks to stop operating,
significantly impacting electricity consumption.

22
• For two consecutive years, the company has had no revenue deduction. This is a
feature of the power industry, where the output, as well as the selling price, are
always predetermined.
• Cost of goods sold this year increased by 6,195 million VND compared to the
previous year, with an increased rate of 28.21%. The increase in cost management
while the decrease in revenue shows that cost management capacity is reduced.
• General and administrative expenses this year increased by VND 269 million,
equivalent to an increase of 8.12% compared to the previous year.
Financial Activities:
• Revenue from financial activities: This year's financial income of the company
reached 8,003 million VND, an increase of 2,244 million VND compared to 2019
(equivalent to an increase of 38.97%). From that, it can be seen that the increase in
financial income here may be due to the fact that enterprises receive interest on
deposits and loans; profit from the sale of investments and gain on foreign exchange
differences arising this year increased compared to the previous year.
• Financial expenses: In 2020, the financial expenses of enterprises are 6,669

million VND, down from 1,243 million VND compared to the previous year
(equivalent to a decrease of 15.71%). All financial expenses of the business are
interest expenses.
Other activities:
Compared to the previous year, other income has decreased sharply, specifically
other income this year is 36 million VND, down 78 million VND with a decrease
rate of 68.42%%. However, profit and revenue from other activities only account
for a tiny proportion compared to net revenue, so the fluctuation of this indicator is
not considered.
In general: the decrease in business activities of enterprises in 2020 mainly comes

from the decline in electricity demand due to social distancing during the COVID-

23
19 pandemic. In the following years, when the epidemic situation controls, the
business results of enterprises will likely return to normal levels. However, the cost
management capacity of enterprises is decreasing. Enterprises need to take
measures to tighten costs and improve business results.
CHAPTER 2: CHARACTERISTICS OF THE ACCOUNTING SYSTEM AT

NORTH CENTRAL ELECTRICITY DEVELOPMENT AND INVESTMENT
JOINT STOCK COMPANY
2.1. The accounting apparatus of the Company
The accounting apparatus of a company have an extremely important role in the

function of managing, checking, and supervising all arising economic transactions.
In order for the accounting apparatus to perform and promote its role well,
enterprises need to organize a scientific, reasonable, and specialized accounting
apparatus, ensuring the centralized, unified, and direct leadership of the accounting
staff. The chief accountant must also be suitable for the organization of production
and business, as well as the management level of the enterprise.
All the work of handling Vouchers and books is gathered to the Accounting
Department for processing and bookkeeping.
The accounting apparatus at the North Central Electricity Development And

Investment Joint Stock Company consists of 5 people: Chief Accountant, General
Accountant, Sales Accountant, Payroll Accountant and Payroll Deductions,
Treasurer.

24
Chief
Accountant
Payroll and
General Sales Payroll Treasurer
Accountant Accountant Deductions
Accountant
Diagram 1. 2: The accounting apparatus of the Company

The duties and responsibilities of each employee in this accounting apparatus
are as follows:
Chief Accountant is responsible for researching regimes and policies in the

fields of taxation, finance, statistics, enterprise law… of the State, financial
activities, and banking credit related to the Company's activities in order to provide
an appropriate implementation. Since then, the organization of accounting work,
statistics, and accounting apparatus is suitable for the organization of production
and business according to the requirements of the existence and development of the
Company. The chief accountant has the duty to promptly disseminate and guide the
current financial, accounting, and statistical regimes and regulations to subordinates
and related departments; Organize accounting records and reflect accurately,
honestly, timely, and fully the accounting data; organize the preservation and
storage of accounting Vouchers, keep secret the Company's accounting Vouchers
and data. At the end of the period, the chief accountant prepares financial
statements, reports on production and business results and analyzes the results of
production and business of the Company, records and performs the closing entries
and internal adjustments at the end of the period, taxes; be responsible for the
following financial statements before the Board of Directors, the Board of
Directors, the General Meeting of Shareholders, and the competent authorities

25
General Accountant synthesizing all expenses and incomes of the company
incurred to make monthly, quarterly, and yearly financial settlement reports in
accordance with regulations of the Ministry of Finance.
Sales Accountant responsible for a timely and complete recording of

finished products, sold goods, and internal consumption, correctly calculating the
cost of goods sold, selling expenses, administrative expenses, and other expenses to
determine sales results. At the same time, check and monitor the progress of sales,
profits, and payments, thereby providing accurate, complete, and objective
information on sales to the Board of Directors and managers.
Payroll and Payroll Deductions Accountant according to salary has the

task of basing on the timesheet of each department to make a table of salary
payments and allowances for specific objects in the enterprise. Deducting social
insurance, health insurance, unemployment insurance, and labor union according to
the prescribed rate.
Treasurer is responsible for paying and collecting cash according to

payment and receipt Vouchers issued by the department as prescribed, withdrawing
or depositing money through the bank upon request; managing cash at the fund,
ensuring money safety, checking the fund, and making periodic audit reports. At the
same time, treasurer conducts a comparison of the amount of money with sales;
updates the bank sub-book; manages contracts, receipts, and payments through
funds, cash, and bank accounts.
2.2. The accounting system at the North Central Electricity Development And
2.2.1. Accounting policies

- Applicable accounting standards and regimes
+ Applicable accounting regime: The Company applies the Corporate Accounting
System issued in accordance with Circular No. 200/2014/TT-BTC dated December
22, 2014, of the Ministry of Finance.

26
+ Accounting standards: Vietnamese Accounting Standards are issued by the
Ministry of Finance.
- Accounting form: Computerized accounting, using Misa accounting software, the
order of bookkeeping is according to the general journal.
- Fiscal year: The fiscal year begins on January 1 and ends on December 31.
- Currency used in accounting: Vietnam Dong (VND).
- Accounting period: annual accounting period.
- VAT calculation method: deduction method according to Circular 219/2013/TT-
BTC dated December 18, 2013.
- Inventory accounting method according to Circular 200/2014/TT-BTC: Regular
declaration method.
- Depreciation method of fixed assets: straight-line method (applicable according to
Circular 45/2013/TT-BTC dated 25/04/2013)
2.2.2. Accounting voucher system
Currently, North Central Electricity Development and Investment Joint Stock
Company is applying the Corporate Accounting System issued in accordance with
Circular No. 200/204/TT-BTC dated December 22, 2014 of the Ministry of
Finance.

27
Vouchers being used at the accounting department:
Table 2. 1: Labor and salary vouchers
No. Name of the document Model No.

1 Timesheets 01a-LĐTL
2 Payroll table 02-LĐTL
3 Bonus payout table 03-LĐTL
4 Certificate of product or job completion 05-LĐTL
5 Overtime payroll table 06-LĐTL
6 Outsourced payment table 07-LĐTL
7 Allotment contract 08-LĐTL
8 Minutes of liquidation (acceptance) of contract 09-LĐTL
9 Minutes of deduction and payment of wages 10-LĐTL
10 Table of salary distribution and social insurance 11-LĐTL
(Source: Accounting Department of North Central Electricity Development and
Investment Joint Stock Company - 2022)
Table 2. 2: Accounting vouchers for sales

No Name of the document
Model No.
.
1 Purchase contract
2 Delivery records
3 VAT invoice 01-GTKT3/001

Table 2. 3: Financial accounting vouchers

28
Model No.
.
1 Receipts 01-TT
2 Payment 02-TT
3 Application for advance 03-TT
4 Advance payment slip 04-TT
5 Payment demand letter 05-TT
6 Receipt of payment 06-TT
7 Fund inventory table (for VND) 08a-TT
8 Payment statement 09-TT
Table 2. 4: Accounting vouchers for fixed assets

Model No.
.
1 Minutes of handing over fixed assets 01-TSCĐ
2 Minutes of liquidation of fixed assets 02-TSCĐ
Minutes of handing over fixed assets that have
3 03-TSCĐ
completed major repair
4 Minutes of revaluation of fixed assets 04-TSCĐ
5 Minutes of inventory of fixed assets 05-TSCĐ
6 Calculation and allocation of fixed assets 06-TSCĐ
Vouchers circulation:
Diagrams of Vouchers circulation

29
Original voucher
Accounting book
General journal
Accounting software General ledger
(Machine accounting book, Detailed accounting books
Misa)
Detailed composite table
Balance sheet arises

Financial statement
Note:
Record daily
Record at the end of the month
Check comparison
2.2.3. Accounting accounts system
The company's accounting accounts are according to Circular 200/2014/TT-

BTC issued by the Ministry of Finance on December 22, 2014. The accounting
system is detailed to level 2 accounts. In addition to level 1 and level 2 accounts
issued by the State, for convenience, in accordance with business characteristics as
well as management requirements and method content accounting of the
corresponding general account, the accountant is very flexible in using the account.
The company's account system (Appendix 2.1)

30
2.2.4. Bookkeeping system
North Central Electricity Development and Investment Joint Stock Company is
applying the Corporate Accounting Bookkeeping System issued in accordance with
Circular No. 200/2014/TT-BTC dated December 22, 2014, of the Ministry of
Finance.
Based on the characteristics of business operations and the actual situation, the
company registered to use the general journal accounting form and was allowed to
do accounting on Misa accounting software in combination with using Excel
software to prepare accounting tables and spreadsheets. Accountants usually do not
transfer data directly, but through the internal network, information is processed
directly according to the parts on paper and then updated to the server.
Bookkeeping system:
General accounting books: general journal, general ledger, detailed summary of

goods, statements, detailed summary of customer receipts, and payables to sellers.
Detailed accounting books: detailed books of sales, detailed books of receivables

from customers, books to monitor fixed assets and tools, tools, and detailed books
of payables to sellers.

31
32
33
National Economics University School of AEP
Phụ lục 2.13: Sổ nhật ký chung
(Source: Accounting Department of North Central Electricity Development and Investment Joint Stock Company - 2022)
Phụ lục 2.14: Sổ chi tiết tài khoản 334

1
Phụ lục 2.15: Sổ chi tiết tài khoản 338

2
Phụ lục: Sổ cái tài khoản 334

3
4
The process of bookkeeping in the form of machine bookkeeping:
Original voucher
Bookkeeping
General journal
Accounting software General ledger
(Machine accounting book, Detailed accounting books
Misa)
Detailed composite table
Balance sheet arises

Financial statement
Note:
Record daily
Record at the end of the month
Check comparison
Diagram 2. 1: The process of bookkeeping in the form of machine bookkeeping

The order of bookkeeping at the company:
Daily accounting is based on valid initial accounting vouchers such as sales

invoices, receipts, payment slips, … and the accounting part imports the vouchers
into the software.
According to the accounting software's process, the information is automatically

entered into the general ledger (ledger, general journal) and related detailed

5
accounting books. At the end of the accounting quarter, the calculation of the ex-
warehousing price, the closing of the period, the closing of the period, and the
preparation of financial statements are performed. The comparison between the
aggregated data and the detailed data is performed automatically and is always
accurate and truthful according to the information entered the period. General
accountants can check and compare data between accounting books and financial
statements after they are printed on paper. At the end of each quarter, at the end of
the year, the general accounting books and detailed accounting books are printed on
paper, bound into books, and carry out legal procedures as prescribed.
2.2.5. Accounting reporting system

Accounting reports are used to provide information on the financial position,
business performance, and cash flows of an enterprise, to meet the requirements of
owners, state agencies, and useful needs of users used in making economic
decisions.
Financial Statement Model No.

Balance Sheet B01 – DN
Profit And Loss Statement B02 – DN
Cash Flows Statement B03 – DN
Financial Statement Footnotes B09 – DN
Table 2. 5: Reports used at the company
2.3. Some main accounting procedures at North Central Electricity

2.3.1. Payroll accounting and payroll deductions at North Central Electricity

2.3.1.1. Characteristics of employees at the Company
Classification of labor in the enterprise

6
- Regular workers (working >12 months) are signed full labor contracts.
- Professionals working under contract salary package are paid as agreed in the
contract.
-The hiring seasonal employees, labor contracts with a term of less than 1 month,
and contract hires agree to pay salaries on other expenses contracted in the contract.
Labor characteristics of the enterprise
The company's labor is divided into 3 parts: executive board, office, and factory:
- Executive Board: University degree or higher, with in-depth knowledge of

management and finance.
- Office department: University degree or higher, with in-depth knowledge of

finance.
- Factory department: with college degree or higher, mainly on duty, operating

machinery and equipment, directly conducting production and business activities to
generate main revenue for the company.
2.3.1.2. Regulation on salary, bonus and allowances for employees of North

Central Electricity Development and Investment Joint Stock Company
North Central Power Development and Investment Joint Stock Company chooses
the form of time-based salary payment (monthly payment) with the standard
prescribed number of working days of 27 days and calculated according to the
following formula:
Gross salary = Salary + Productivity salary + Allowances + Bonus
Net Salary = Gross salary + Meal allowance – Salary deductions

7
Salary (TLi): Salary is calculated according to job title, salary is based on the salary
scale system, salary table promulgated by the Company (Appendix)
Salary is calculated according to the following formula:
TLi = Mi x Ki
In there:
+ TLi: Salary of i-th person
+ Mi: Basic salary level of the i-th person
+ Ki: Salary coefficient of the i-th person
Productivity salary (Tsi): The productivity salary is calculated according to the

work performed at each assigned position and depends on the output and revenue
made monthly, quarterly, and annually. The amount of the productivity salary is
decided by the Company's Director, but not higher than the ceiling specified
(Appendix).
The allowance amount is calculated according to the following formula:
Tsi = Nsi x Msi x Ksi
In there:
+ Tsi : Productivity salary of the i-th person
+ Nsi: Productivity coefficient
+ Msi: Productivity salary level of the i-th person in the month
+ Ksi: Productivity salary coefficient of the i-th person
a) Criteria for grading salary coefficient (Ki) and productivity salary

coefficient (Ksi)
* Type A salary coefficient and productivity salary coefficient are: Ki , Ksi = 1.0

8
- Do not violate discipline, comply well with internal rules, regulations, regulations,
and processes of the Company;
- Complete 100% of the assigned work;
- Have a sense of responsibility at work and responsibility to protect the Company's

assets, not damage the Company's assets.
* Type B salary coefficient and productivity salary coefficient are: Ki , Ksi = 0.85
- Do not violate the discipline, internal rules, regulations, regulations, and processes
of the company;
- Completing about 90% of the assigned work;
- Have a sense of responsibility at work and responsibility to protect the company's

assets, not damage the company's assets;
- Unpaid personal leave up to 02 working days/month.
* Type C salary coefficient and productivity salary coefficient are: Ki , Ksi = 0.70
- Do not violate the discipline, internal rules, regulations, regulations, and processes
of the company;
- Complete about 80% of the assigned work;
- Have a sense of responsibility at work and responsibility to protect the company's

assets;
- Unpaid personal leave for more than 02 to 05 working days/month.
* Type D without productivity salary:
Employees who have completed lower than those specified in category C above will
not receive productivity salary.
b) Criteria for grading productivity factor (Nsi):

9
The annual commercial power output must be at least 60.0 million kWh or revenue
of 55 billion VND. Quarterly, 06-monthly, and annually, the balance and
adjustment of support money must be adjusted, ensuring that the lowest
productivity criteria must be met as follows:
* For the dry season:
1. Actual monthly commercial electricity output is over 4.5 million kWh or revenue
is over 5.0 billion VND, then Nsi = 1.0;
2. Actual monthly commercial electricity output is over 3.2 - 4.5 million kWh or
revenue is over 3.5 - 5.0 billion VND, then Nsi = 0.8;
revenue is from 2.0 - 3.5 billion VND, then Nsi = 0.6;
4. Actual monthly commercial electricity output of less than 1.8 million kWh or
revenue of less than 2.0 billion VND is not productivity salary.
* For the rainy season:
1. Actual monthly commercial electricity output is over 6.0 million kWh or revenue
is over 3.75 billion VND, then Nsi = 1.0;
revenue is over 2.7 - 3.75 billion VND, then Nsi = 0.8;
3. Actual monthly commercial electricity output is from 2.5 to 4.5 million kWh or
revenue is from 1.5 to 2.7 billion VND, then Nsi = 0.6;
4. Actual monthly commercial electricity output of less than 2.5 million kWh or
revenue of less than 1.5 billion VND is not productivity salary.
For example: According to Appendix 2.6 and Appendix 2.7 of the timesheet and
salary table Mr. Nguyen Ngoc Thanh:

10
- Actual number of employees receiving monthly salary: 27 days
- Actual number of employees receiving allowances and productivity salary: 27

days
- Salary coefficient Ki is 1.0
- Mi's basic salary is 15,400,000 VND
=> Earned salary = (Net salary monthly x Base salary Mi x Salary coefficient Ki) /
Norm amount of work = VND 15,400,000
- Ksi rating is 1.0
- Productivity coefficient Nsi is 1.0
- The productivity salary level of Msi is 12,300,000 VND
- Earned productivity salary = (Actual amount of work to receive allowance,

productivity salary x Productivity salary coefficient Ksi x Productivity coefficient
Nsi x Productivity salary level Msi) / Norm amount of work = VND 12,300,000
=> Gross salary = 15,400,000 + 12,300,000 = 27,700,000 VND
Deductions from salary = (HI, social insurance, unemployment insurance x 10.5%)

+ (Trade union dues x 1%) + PIT = 1,894,000
In which PIT = Monthly income – ((Health insurance, social insurance,

unemployment insurance x 10.5% + Area allowance + Personal deduction + Family
circumstance deduction)
= 27,700.000 – (1,617,000 + 260,000 + 11,000,000 + (4,400.000 x 4))
= -2,777,000 VND => Do not have to pay PIT

11
=> Net salary = Gross salary + Meal allowance – Salary deductions
= 27,700.000 + 810,000 – 1,894,000 = 26,616,000 VND
2.3.1.4. Regulations on payroll deductions

Subjects Employees are paid insurance, and the insurance premiums are adjusted in
a timely manner in accordance with current regulations. Insurance premiums and
deductions are specified by North Central Electricity Development and Investment
Joint Stock Company as follows:
Salary deductions Deducting into Deducting into Total

business employee's salary
expenses
2. Social insurance 17,5% 8% 25,5%
2. Health Insurance 3% 1,5% 4,5%
3. Unemployment
insurance 0% 1% 2%
4. Trade union dues 0% 1% 1%
Total 21,5% 11,5% 33%
Table: Regulations on payroll deductions of Company

The social insurance fund is formed by deducting according to the prescribed ratio
of the total basic salary fund and allowances of employees actually incurred in the
month.
The social insurance fund deducts 25.5% of the monthly salary, of which the
company contributes 17.5% of the total salary of the participants to the social

12
insurance contributions and 8% is paid by the employees above the basic salary to
add allowances (if any).
Health insurance fund: The company charges 3% of the total basic salary, the
employee has to pay 1.5% (deducted from monthly income) then the company pays
it all to the health insurance agency for management and expenses paid. This fund is
used to pay for medical examination and treatment… for employees.
Trade union dues: The company charges 1% according to the employee's actual
salary.
Unemployment insurance: 1% will be charged to company expenses, 1% deducted
from the employee's salary.
For example: According to the data in Appendix 2.6 and Appendix 2.7 of Mr.
Nguyen Ngoc Thanh's timesheet and salary sheet, the salary deductions that Mr.
Nguyen Ngoc Thanh deducted from his salary are:
- Social insurance deduction (8%) = 15,400,000×8% = 1,232,000 VND
- Health insurance deduction (1.5%) = 15,400,000×1.5% = 231,000 VND
- Unemployment insurance deduction (1%) = 15,400,000×1% = 154,000 VND
- Trade union dues deduction (1%) = 27,700,000×1% = 277,000 VND
=> Total deductions = 1,232,000 + 231,000 + 154,000 + 277,000 = VND 1,894,000
2.3.1.6. Voucher used and the process of circulating payroll accounting

Vouchers at North Central Electricity Development and Investment Joint
Stock Company
At the end of the month, the departments send the timesheet to the accounting
department. The staff of the accounting department will base on the list of
employees, the timesheet, and the table of labor allowances to make the salary scale
and the social insurance distribution spreadsheet for the company's employees.
After that, the staff of the accounting department sends the timesheet, salary
payment table, and social insurance distribution table to the chief accountant. The

13
chief accountant checks and signs the timesheet, salary payment sheet, and social
insurance distribution spreadsheet, then transfers all such Vouchers to the Director's
office for approval.
The staff of the accounting department, based on the signed and approved Vouchers
from the Director, record the general journal, account 334, and save the vouchers by
date.
Entity Inside/Outside Work Voucher

1. Outside Timesheets
Departments
2. Staff of the Inside 1.0 Prepare salary Time sheet, salary
accounting payment table and payment table, social
department social insurance insurance distribution
distribution spreadsheet, employee
spreadsheet monitoring list, work
4.0 Recording and allowance table
saving vouchers
3. Chief Inside 2.0 Check and Timesheet, salary
Accountant confirm payment table, and
social insurance
distribution spreadsheet
4. Director Inside 3.0 Sign approval Work strike sheet,
salary payment table,
social insurance
distribution
spreadsheet, general
diary, account ledger
334,338.
Table 2. 6: Entity table of document rotation in the payroll cycle and payroll
deductio

14
15
Diagram 2. 2: The process of document rotation in the payroll cycle and payroll deduction

16
2.3.1.7. Book of use and order of recording
* Company accounting accounts used in this section include:
- Account 334: Payables to employees.
- Account 338: Other payables and payables
+ Account 3382: Union fees
+ Account 3383: Social insurance
+ Account 3384: Health insurance
+ Account 3386: Unemployment insurance
* Used book
- Ledger of accounts: 334, 338.
- Details book:
The detailed book of account 334 is detailed according to the object of the
employee's office, for example: the detailed book of account 334 of the general
administration department.
Account 338 detailed book is detailed according to the object of salary deductions,
for example, Account 338 Social insurance, 338 Health insurance detail book,
Unemployment insurance account 338 detail books, detailed book of account 338
Trade union funds.
- General diary
* Bookkeeping order

17
Monthly timesheet, Summary of
overtime work for each employee
Salary and Salary for each employee
- Detailed book: Account detail

Accounting Software book 334, 338
MISA - General ledger: General
journal, Account ledger 334,
338
- Financial report
- Management report
NOTE
Enter month-end data
Print books and reports at the end of the month and
at the end of the year
Compare, check
Diagram 2. 3: Order of recording transactions related to payroll and payroll

deductions at the Company
At the end of the month, the payment accountant based on the Payroll and Payroll
Table of each employee records the General Journal, and the payment accountant
enters data into the computerized accounting software. According to the process of
the software, the information is automatically entered into the General Journal, the
Ledger of Accounts 334, 338, and the Detailed Book of Accounts 334 and 338.

18
After entering the data, the accountant performs the operation to close books and
prepare financial statements. The comparison between the aggregated data and the
detailed data is done automatically and always ensures accuracy and truthfulness
according to the entered information.
2.3.1.8. Payroll accounting and payroll deductions at North Central Electricity

Payroll accounting is the position of an accountant who is responsible for
accounting salaries based on factors, time sheets, attendance allowance tables, shift
meals, business trips, etc. by salary regulations that the company and state
regulations.
Payroll accounting, in addition to calculating salaries reasonably and accurately for

employees and employees, must also ensure a balance of costs for the business.
For North Central Electricity Development and Investment Joint Stock Company,
the accounting department has a limited number of employees, so one person will
be in charge of many accounting functions.
The table describes the accounting work of the salary module at North Central
Electricity Development and Investment Joint Stock Company:
The main duties Specific work

Follow the list of employees Record timely and fully reflect the situation of
labor use, labor results, and labor succession time
to serve as a basis for a salary payment plan for
employees.
Manage employee's salary Set up the allowable levels of salary advance for
advance employees according to % of monthly salary or
according to the individual value of money of
each employee.
Prepare salary advance sheet and salary advance

19
slip.
Salary planning and salary Based on the timesheet at the end of the month
deductions and related Vouchers, the salary accountant will
calculate the salary for employees based on the
salary regulations that the company has given.
Send salary slips and related Vouchers to the
school accountant for approval. Periodically pay
wages to employees.
Table 2. 7: The table describes the accounting work of the salary module
At the end of each month, the payroll accountant will print the time sheet from the
automatic timekeeping machine as a basis for making a full timesheet.

20
21
Figure 2. 1: Timesheet summary at North Central Electricity Development and Investment Joint Stock Company in
January

22
Figure 2. 2: Salary advance table of the Executive Board in January

23
Figure 2. 3: Advanced table of office salary in January

24
25
Figure 2. 4: Factory salary advance table in January

26
Figure 2. 5: Advance contract salary for January 1
(Source: Accounting Department – North Central Electricity Development and Investment Joint Stock Company)

27
Figure 2. 6: List of deductions and payments according to the monthly salary

28
Figure 2. 7: Distribution of salary and social insurance in January

29
30
31
Figure 2. 8: January's corporate income tax calculation table
(Source: Accounting Department - North Central Electricity Development and Investment Joint Stock Company)

32
2.3.2. Sales accounting and determination of sales results
2.3.2.1. The sale forms
After more than 7 years of officially going into power production, North Central
Electricity Development and Investment Joint Stock Company is one of the
electricity suppliers for the Northern Power Corporation. Apply the water use plan
of Nam River Ma Co., Ltd in combination with the power production plan approved
by the Board of Directors. Doc Cay Hydropower Plant takes water through the
power generation route to connect to the national grid and at the end of the month
will close the meter readings at Thuong Xuan District Electricity and send the
dossier to the Northern Electricity Corporation for payment.
2.3.2.2. Principles and methods of revenue and income recognition

Sales of finished electricity
Revenue from selling finished electricity is recognized monthly based on the

Minutes of confirmation of the power output generated into the national grid which
is certified by the Northern Electricity Corporation (The unit price specified in the
contract and the appendices to the signed power purchase and sale contract).
Interest
Interest progress is recognized on the basis of time and actual interest rate each
period.
2.3.2.3. Vouchers and rotation of Vouchers
Proof of use:
+ Sale and purchase contract: Vouchers reflecting the company's commitment and
binding to the customer on the sale contents: quantity, quality, characteristics of
goods, rights and obligations of the parties, payment terms .
+ Minutes of handover: confirm the quantity of product codes and actually exported
goods for each order, the basis for checking and comparing when recording.
+ VAT invoice (Form 01-GTKT3/001), detailed list attached to the invoice.

33
Order of rotation of Vouchers for wholesale operations at the Company:
Financial Director,
planning Tax Sales
Customer Deputy
department accountant Accountant
Director
Sign
Make a Enter data
Make Contract,
Proposed purchase into the
VAT Invoice,
purchase and sale software
Invoice Handover
contract
Minute
Diagram 2. 4: Order of rotation of the Company's wholesale business vouchers
2.3.3.4. Books used and order of recording books

User book:
+ Detailed sales book (Form S35-DN) is detailed according to the object of each
separate electrical code of finished products,
+ Summary of customer's payment status.
+ General diary book (Form No. S03a-DN).
+ Ledger of accounts (Form No. S03b-DN).
When sales transactions arise, the order of bookkeeping at North Central Electricity
Development and Investment Joint Stock Company is as follows:

34
Detailed book: Sales
Original vouchers (VAT invoice,
detail book, payment
handover minutes) detail book with buyers
Accounting Software
(MISA) Summary of payment
situation with buyers,
Detailed summary of sales
revenue, cost of goods
sold
Financial report
Management report
General ledger: General
journal, Account ledger
511, 632, 131
Enter daily data

Print books and reports at the end of the month
and at the end of the year
Compare, check
Diagram 2. 5: Order of recording bookkeeping
2.3.2.5. Sales accounting
applies the accounting system according to Circular 200/2014/TT-BTC, so the
company account used to record revenue and cost price is as follows:
Revenue recognition account: Account 511_Revenue from sales and service

provision
In which: Account 5111_Revenue from sales of goods
At the end of the accounting period, “Revenue from sales and provision of services”
is transferred to the credit side of account 911_Determination of business results.
The account used to record cost of goods sold: Account 632_Cost of goods sold

35
At the end of the accounting period, “Cost of goods sold” is transferred to the debit
side of account 911_Determination of business results.

36
Figure 2. 9: VAT invoice with a list of electricity produced by North Central
Electricity Development and Investment Joint Stock Company

37
Figure 2. 10: Minutes of confirmation of meter readings and power output of
Doc Cay Hydropower Plant/Power Plant of North Central Electricity

38
Figure 2. 11: Application form for payment of North Central Electricity

39
Figure 2. 12: Voucher to the State Budget of North Central Electricity
Accounting:
Reflect the cost of capital
Dr 632 3.821.425.899

40
Cr 156 3.821.425.899
Revenue reflection
Dr 131 4.203.568.489
Cr 5111 3.821.425.899
Cr 3331 382.142.590
Capital cost transfer
Dr 911 3.821.425.899
Cr 632 3.821.425.899
Revenue transfer
Dr 5111 3.821.425.899
Cr 911 3.821.425.899
2.3.2.6. Accounting for sales and business management
applies the accounting system according to Circular 200/2014/TT-BTC, so selling
and administrative expenses are shown in the following accounts. :
- Account 641_Sales expenses
- Account 642_Business administration expenses
At the end of the accounting period, selling and administrative expenses are
transferred to the debit side of account 911_Determination of business results.

41
Figure 2. 13: VAT invoice
Cost of receiving partners for sales:
Dr 641 9.228.600
Cr 112 9.228.600

42
Figure 2. 14: Sale invoice
Buy essentials for the company:
Dr 642 4,272,438 VND
Cr 1111 4,272,438
Cost transfer:
Dr 911 13,501,038 VND

43
Cr 641 9,228,600 VND
Cr 642 4,272,438
2.3.2.7. Accounting to determine sales results
Enterprises apply the accounting system according to Circular 200/2014/TT-BTC,
so sales revenue will be determined by the formula:
Sales Net sales Cost of Selling Administrative

results = from sales - goods sold - expenses - Expenses
Figure 2. 15: Formula to determine sales results – “Source: Circular

200/2014/TT-BTC”
Net revenue from Revenue from Revenue deductions (Trade

sales of goods = sales of goods - discounts, Sales returns,
and provision of and provision of Sales discounts
services services
Figure 2. 16: Formula to determine net sales from sales – “Source: Circular
133/2016/TT-BTC”
Based on the data in sections 2.2.3 and 2.2.4, we determine the sales results as
follows:
- Net sales = 3,821,425,899 – 0 = 3,821,425,899 VND
- Sales results = 3,821,425,899 - 9,228,600 - 4,272,438 = 3,807,924,861 VND
=> Company get profit

44
CHAPTER 3: ASSESSMENT OF ACCOUNTING ORGANIZATION AND
ACCOUNTING SYSTEM AT NORTH CENTRAL ELECTRICITY
3.1. Assessment of accounting organization
3.1.1. Comments on management

3.1.1.1. Advantages
North Central Electricity Development and Investment Joint Stock Company has
been increasingly developing in its field of electricity production and business. With
a team of qualified, professional and dynamic leaders and managers along with a
team of highly qualified engineers with many years of experience, the Company has
increasingly affirmed its position.
Based on the organizational chart of North Central Electricity Development and
Investment Joint Stock Company, the organization of the company is quite simple.
However, the Company has a clear division of work between departments, a simple,
no-frills management organization that is suitable and effective with an operating
model that reduces costs and time. In each stage of operation, the company always
has a specific working process to ensure that no details are missed during the
operation process.
3.1.1.2. Disadvantages
North Central Electricity Development and Investment Joint Stock Company is in
the development stage and in the future will increase the scale of operations to
create a position in the market. However, in terms of organizational structure,
although there is a clear division of work between departments, due to the simple
organizational structure, one department is in charge of many jobs. That can lead to
work overload and poor job completion.

45
3.1.2. Comments on accounting work
3.1.2.1. Advantages
North Central Electricity Development and Investment Joint Stock Company has an
effective accounting system, providing timely necessary information to the
management apparatus and other related departments.
Regarding the accounting of salaries and deductions according to the company's

salary: The company has applied the salary regime and deductions according to the
salary in accordance with the provisions of law. Do not allow the phenomenon of
employee salary debt. The salary accountant has accounted for the items in a
specific and scientific manner. By assigning tasks in each stage, there are
specialized departments and divisions to take charge of, attaching the responsibility
of each person to his or her work, so that all work is carried out quickly and brings
good results and high efficiency.
Regarding the used documents, they are arranged in an orderly manner and kept
carefully, and when they need to be exported, they are strictly managed. The
recording is complete, and the company uses and circulates documents in
accordance with the regulations of the Ministry of Finance.
3.1.2.2. Disadvantages
The accounting apparatus is still small, so there are cases of incompetence. One
person is responsible for many different jobs, so there is no reconciliation between
the accounting sections, leading to many errors that the accountants do not detect.
Besides, it can cause an overload of workload for accountants.
3.2. Recommendations to the organization of accounting at North Central

Electricity Development and Investment Joint Stock Company
Continuously updating new information on regimes and legal documents to ensure

that the accounting work is applied correctly and reasonably.

46
The company needs to create conditions for employees to be trained and improve
their professional qualifications, especially in information processing operations on
computers, in order to maximize the ability of accounting staff to serve the needs of
the public. The accounting and management work of the company has achieved
effective results.
Some recommendations:
It is necessary to provide professional training for accounting staff on the use of all
functions of computers in accounting and bookkeeping. Encourage the promotion of
creativity, research, and create new things about technology as well as methods in
work to reduce the company's accounting apparatus.
Currently, in order to keep up with the policies and regulations of the State,
enterprises need to update, calculate deductions according to salary and fully
implement to ensure the rights and obligations of workers.
Building a more efficient accounting system and possibly hiring more external
accountants to improve the organizational structure and achieve more efficiency.
For salary deductions, the company is complying with regulations, but as contract
workers, the deductions according to the company's salary will not be able to retain
employees much.
Accountants need to unify and complete compact accounting books while ensuring
all necessary information is in accordance with accounting regulations and
principles, avoiding repetition and increasing unnecessary workload.
The company should build a reasonable bonus system. Bonuses play an important
role in motivating employees to be more responsible. In addition to the form of a
Tet bonus, it is necessary to encourage individuals and groups with excellent and
positive contributions to the company.

47
Regularly check and review to draw scientific and fair payment forms and methods
for employees.
It is necessary to apply a reasonable timekeeping method so that in addition to

reflecting the actual number of working days in the month, it also shows the sense
of responsibility of the employees. Businesses can use fingerprint timekeeping or
“time card”. From there, there are timely reward policies for those who work full or
overtime and take measures to correct those who do not work enough time.
Strengthen the training of managers and workers: do a good job of recruiting

workers, especially recruiting qualified managers, rejuvenating the leadership team,
and selecting good managers' management capacity to match the market economy;
with low skill level, the company should train by sending employees to attend extra
classes, invest funds… the company has administrative measures to make
employees consciously abide by the rules; build a strict control system on quantity
and quality of labor.
Above are some suggestions with the desire to contribute to further improving the
accounting work at the company. It is hoped that in the coming time, the
organization of accounting in general and accounting of materials, in particular, will
serve more effectively for decision-making, contributing to promoting production,
consolidating its position, and gaining a foothold firmly in the market.

48
Appendix 1.1: Certificate of enterprise registration joint-stock company

49
50

51
Appendix 1.2: Profit and Loss Statement in 2020


52
Appendix: Accounting accounts system
Progress billings for

ASSETS 337 construction
contracts
111 Cash on hand 338 Other payables
Surplus of assets awaiting
1111 Vietnamese Dong 3381
resolution
1112 Foreign currencies 3382 Trade union fees
1113 Monetary Gold 3383 Social insurance
112 Cash in banks 3384 Health insurance
1121 Vietnamese Dong 3385 Payables on privatization
1122 Foreign currencies 3386 Unemployment insurance
1123 Monetary Gold 3387 Unearned revenue
113 Cash in transit 3388 Others
Borrowings and finance lease
1131 Vietnamese Dong 341
liabilities
1132 Foreign currencies 3411 Borrowings
121 Trading securities 3412 Finance lease liabilities
1211 Shares 343 Issued Bonds
1212 Bonds 3431 Ordinary bonds
Securities and other financial
1218 34311 Par value of bonds
instruments
128 Investments held to maturity 34312 Bond discounts
1281 Term deposits 34313 Bond premiums
1282 Bonds 3432 Convertible bonds
1283 Loans 344 Deposits received
Other investments held to
1288 347 Deferred tax liabilities
maturity

53
131 Trade receivables 352 Provisions payable
133 Deductible VAT 3521 Product warranty provisions
Deductible VAT of goods and Construction warranty
1331 3522
services provisions
Deductible VAT of fixed Enterprise restructuring
1332 3523
assets provisions
136 Internal receivables 3524 Other provisions
Working capital provided to
1361 sub 353 Bonus and welfare fund
units
Internal receivables on foreign
1362 3531 Bonus fund
exchange differences
Internal receivables on
1363 borrowing 3532 Welfare fund
costs eligible for capitalization
Welfare fund used for fixed
1368 Other internal receivables 3533 asset
acquisitions
138 Other receivables 3534 Management bonus fund
Shortage of assets awaiting Science and technology
1381 356
resolution development fund
Science and technology
1385 Receivables from privatization 3561
development fund
Science and technology
development fund used for
1388 Others receivables 3562
fixed
asset acquisition
141 Advances 357 Price stabilization fund
151 Goods in transit EQUITY

54
152 Raw materials 411 Owner’s equity
153 Tools and supplies 4111 Contributed capital
Ordinary shares with voting
1531 Tools and supplies 41111
rights
1532 Packaging rotation 41112 Preference shares
1533 Instruments for rent 4112 Capital surplus
Conversion options on
1534 Equipment and spare parts 4113 convertible
bonds
154 Work in progress 4118 Other capital
Revaluation differences on
155 Finished goods 412
asset
1551 Finished goods 413 Foreign exchange differences
Exchange rate differences on
revaluation of monetary items
1557 Real estate finished goods 4131
denominated in foreign
currency
Exchange rate differences in pre
156 Merchandise goods 4132
operating period
Investment and development
1561 Purchase costs 414
fund
Enterprise reorganization
1562 Incidental expenses 417
assistance fund
1567 Property Inventories 418 Other equity funds
Outward goods on
157 419 Treasury stocks
consignment
158 Goods in bonded warehouse 421 Undistributed profit after tax
Government sourced Undistributed profit after tax of
161 4211
expenditure previous year

55
Undistributed profit after tax of
1611 Expenditure of previous year 4212
current year
1612 Expenditure of current year 441 Capital expenditure funds
Government bonds
171 purchased for 461 Government sourced funds
resale
Government sourced funds of
211 Tangible fixed assets 4611
previous year
Government sourced funds of
2111 Buildings and structures 4612
current year
Non-business funds used for
2112 Machinery and equipment 466
fixed asset acquisitions
Transportation and
2113 transmission REVENUE
vehicles
2114 Office equipment 511 Revenues
Perennial trees, working and Revenue from sales of
2115 5111
producing animals merchandises
Revenue from sales of finished
2118 Other tangible fixed assets 5112
goods
212 Finance lease assets 5113 Revenue from services rendered
Finance lease tangible fixed Revenue from government
2121 5114
assets grants
Finance lease intangible fixed Revenue from investment
2122 5117
assets properties
213 Intangible fixed assets 5118 Other revenue
2131 Land use rights 515 Financial income
2132 Copyrights 521 Revenue deductions

56
2133 Patents 5211 Sales discounts
2134 Trademarks and brand name 5212 Sales returns
2135 Computer software 5213 Sales allowances
COSTS OF PRODUCTION
2136 Licenses and franchises &
BUSINESS
2138 Other intangible fixed assets 611 Purchases
214 Depreciation of fixed assets 6111 Purchases of raw materials
Depreciation of tangible fixed
2141 6112 Purchases of goods
assets
Depreciation of finance lease
2142 621 Direct raw material costs
assets
Amortization of intangible
2143 622 Direct labor costs
assets
Depreciation of investment Costs of construction
2147 623
properties machinery
217 Investment properties 6231 Labor costs
221 Investment in subsidiaries 6232 Material costs
Investment in joint ventures
222 and 6233 Tools and instruments
associates
228 Other investments 6234 Depreciation expense
Equity investments in other
2281 6237 Outside services
entities
2288 Other investment 6238 Other expenses
Allowance for impairment of
229 627 Production overheads
assets
2291 Allowances for decline in 6271 Factory staff costs
value of

57
trading securities
Allowances for investment
2292 loss in 6272 Material costs
other entities
2293 Allowances for doubtful debts 6273 Tools and instruments
2294 Allowances for inventories 6274 Fixed asset depreciation
241 Construction in progress 6277 Outside services
2411 Acquisition of fixed assets 6278 Other expenses
2412 Construction in progress 631 Production costs
Extra-ordinary repair of fixed
2413 632 Costs of goods sold
assets
242 Prepaid expenses 635 Financial expenses
243 Deferred tax assets 641 Selling expenses
Mortgage, collaterals and
244 6411 Staff expenses
deposits
LIABILITIES 6412 Materials and packing materials
331 Trade payables 6413 Tools and instruments
Taxes and other payables to
333 State 6414 Fixed asset deprecation
Budget
3331 Value Added Tax (VAT) 6415 Warranty expenses
3331
Output VAT 6417 Outside services
1
3331
VAT on imported goods 6418 Other expenses
2
General administration
3332 Special consumption tax 642
expenses
3333 Import and export tax 6421 Staff expenses
3334 Corporate income tax 6422 Office supply expenses

58
3335 Personal income tax 6423 Office equipment expenses
Tax on use of natural
3336 6424 Fixed asset depreciation
resources
Land and housing tax, and
3337 rental 6425 Taxes, fees and charges
charges
Environment protection tax
and
3338 6426 Provision expenses
other taxes
3338
Environment protection tax 6427 Outside services
1
3338
Other taxes 6428 Other expenses
2
Fees, charges and other OTHER INCOME
3339
payables
334 Payables to employees 711 Other Income
3341 Payables to staff OTHER EXPENSES
3348 Payables to others 811 Other Expenses
335 Accrued expenses 821 Income tax expense
336 Internal payables 8211 Current tax expense
Internal payables for working
3361 capital 8212 Deferred tax expense
received
Internal payable on foreign
3362 INCOME SUMMARY
exchange differences
3363 Internal payables on 911 Income Summary
borrowing

59
costs eligible for capitalization
3368 Other inter-company payables

60
Appendix 1: SALARY SYSTEM, BASIC SALARY SCHEDULE COMPANY NORTH CENTRAL ELECTRICITY
INVESTMENT AND DEVELOPMENT
Job Title Coefficient/ Salary Table 1:
I II Unit: 1000 VND
01 - Company Director
- Coefficient 5,00 6,00
- Salary 15.400 18.400
02 - Deputy Director of the Company,

- Coefficient 4.00 5,00
Table 2. 8:
- Salary 12.300 15.400 Table 1 - Appendix
1
03 - Factory Manager, Chief Accountant
- Salary 8.900 11.100
04 - Factory Deputy Director, Deputy Chief
Accountant, Head of Department
- Salary 8.000 8.700
05 - Deputy Manager, Repair Team Leader

- Salary 7.400 8.000
Table 2:
Unit: 1000 VND
Job Title Coefficient/ Salary

I II III IV V VI VII VIII IX X XI XII
01- University
- Coefficient 1,30 1,40 1,50 1,63 1,76 1,89 2,05 2,21 2,38 2,57 2,77 3,00
- Salary 4.00
4.300 4.600 5.000 5.400 5.800 6.300 6.800 7.300 7.900 8.500 9.200
0
02- College
- Coefficient 1,20 1,30 1,40 1,50 1,60 1,69 1,82 1,95 2,08 2,21 2,38 2,54
- Salary 3.70
4.000 4.300 4.600 4.900 5.200 5.600 6.000 6.400 6.800 7.300 7.800
0
03- Intermediate
- Coefficient 1,15 1,21 1,30 1,40 1,50 1,60 1,69 1,82 1,95 2,08 2,21 2,38
- Salary 3.50
3.700 4.000 4.300 4.600 4.900 5.200 5.600 6.000 6.400 6.800 7.300
0
04- Grocery,
maintenance

1
- Coefficient 1,07 1,14 1,21 1,27 1,34 1,40 1,47 1,53
- Salary 3.30
3.500 3.700 3.900 4.100 4.300 4.500 4.700
0
05- Driving <3.5 tons,
under 20 seats
- Coefficient 1,20 1,30 1,40 1,50 1,63 1,76 1,89 2,05
- Salary 3.70
4.000 4.300 4.600 5.000 5.400 5.800 6.300
0
06- Protection
- Coefficient 1,10 1,17 1,24 1,30 1,37 1,47
- Salary 3.40
3.600 3.800 4.000 4.200 4.500
0
Table 2. 9: Table 2 - Appendix 1
Table 3:
Unit: 1000 VND
Job Title Coefficient/ Salary
I II III IV V VI VII VIII IX X XI XII

2
01. Operation and repair workers
- Coefficient 1,30 1,40 1,50 1,63 1,76 1,89 2,05 2,21 2,38 2,57 2,77 3,00
- Salaty 4.00 4.30 4.60 5.00 5.40 5.80 6.30 6.80 7.30 7.90 8.50 9.20
0 0 0 0 0 0 0 0 0 0 0 0
Table 2. 10: Table 3 - Appendix 1
Subjects of application: Operators, repair workers (regardless of the title of shift leader or supervisor or assistant) Hydropower
plants
Appendix 2: SUPPORT COST BY JOB TITLE
Unit: 1000 VND
Job Title Coefficient/ Support level
No.
1 2 3 4 5 6 7 8 9 10 11
Director of the company
- Coefficient 4.50 5,50

1
- Support level 13.80 16.90
0 0

3
Company Deputy Director, Factory
Director
2 3,00

9.200
0 0
Factory Deputy Director, Chief
3 Accountant
- Coefficient 2,80 3,25 3,70
8.600
0 0
Head of Department, Deputy Chief

Accountant, Head of Repair Team
4 - Coefficient 2,30 2,50 2,80 3,10
- Support level 9.50
7.100 7.700 8.600
0
5 Deputy Head, Chief

4
- Coefficient 1,70 1,85 2,00 2,15 2,30
5.200 5.700 6.100
0 0
Engineer, Bachelor
- Coefficient 1,15 1,24 1,34 1,43 1,56 1,69 1,82 1,95 2,12 2,28 2,48
6
- Support level 4.40 4.80 5.20 5.60 6.00 6.50 7.00
3.500 3.800 4.100 7.600
0 0 0 0 0 0 0
Engineering, Staff
- Coefficient 0,90 0,98 1,04 1,11 1,17 1,27 1,37 1,47 1,56 1,66 1,79
7
- Support level 3.40 3.60 3.90 4.20 4.50 4.80 5.10
2.800 3.000 3.200 5.500
0 0 0 0 0 0 0
Operation worker
8 - Coefficient 1,15 1,24 1,34 1,43 1,56 1,69 1,82 1,95 2,12 2,28 2,48
- Support level 4.40 4.80 5.20 5.60 6.00 6.50 7.00
3.500 3.800 4.100 7.600
0 0 0 0 0 0 0
9 Workers driving
- Coefficient 0,90 0,98 1,04 1,11 1,17 1,24 1,30 1,37 1,47

5
- Support level 3.40 3.60 3.80 4.00 4.20 4.50
2.800 3.000 3.200
0 0 0 0 0 0
Journalism, Security
10 - Coefficient 0,60 0,68 0,72 0,78 0,85 0,91 0,98 1,04 1,11
- Support level 2.40 2.60 2.80 3.00 3.20 3.40
2.000 2.100 2.200
0 0 0 0 0 0
Table 2. 11: Appendix 2

6

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National Economics University School of AEP

NATIONAL ECONOMICS UNIVERSITY

Student’s name: Nguyen Huong Quynh

Student’s ID: 11194477

Class: Auditing 61B EEP

Supervisor: Ph.D. Dang Thi Thuy Hang

Internship Report – Nguyen Huong Quynh

Internship Report – Nguyen Huong Quynh

Internship Report – Nguyen Huong Quynh

Figure 2. 1: Timesheet summary at North Central Electricity Development and

Internship Report – Nguyen Huong Quynh

Table 2. 1: Labor and salary vouchers.....................................................................34

Internship Report – Nguyen Huong Quynh

Diagram 2. 1: Order of recording accounting books in the form of machine

Internship Report – Nguyen Huong Quynh

Realizing this, I applied for a 2-month internship at of North Central Electricity

This report is structured in 3 parts:

Chapter 1: Overview of North Central Electricity Development and Investment

Chapter 2: Characteristics of the accounting system at North Central Electricity

Chapter 3: Assessment of accounting organization and accounting system at North

Internship Report – Nguyen Huong Quynh

1.1. History of formation and development of North Central Electricity

1.1.1 General information about North Central Electricity Development and

+ Company name is written in English: NORTH CENTRAL ELECTRICITY

+ Company name is written in Vietnamese: CÔNG TY CỔ PHẦN ĐẦU TƯ VÀ

Legal type: Joint-stock company

Phone/ Fax: (+84) 378 962009

Charter capital: 87,000,000,000 VND

The number of existing employees: 35 employees including directors, employees,

With high professional qualifications, bachelor's degree, engineer or higher.

Internship Report – Nguyen Huong Quynh

North Central Electricity Development and Investment Joint Stock Company

Date of establishment: September 5, 2006

Business registration license (Appendix 1.1)

1.1.2. History of formation and development of North Central Electricity

Legal representative: Mr: Nguyen Van Nhat – Title: Director.

Internship Report – Nguyen Huong Quynh

Internship Report – Nguyen Huong Quynh

1.2.1. Functions and duties of North Central Electricity Development and

Producing and trading in electricity; participating in the competitive power supply

Construction of technical works, electricity, water supply, and drainage, technical

Consulting and appraisal of construction investment projects; Construction

Internship Report – Nguyen Huong Quynh

Internship Report – Nguyen Huong Quynh

1.2.2. Features of business activities of North Central Electricity Development

(1) Construction of other civil engineering works

Details: Construction of industrial works, electricity, water supply, and drainage,

(2) Electricity generation, transmission, and distribution

Details: Producing and trading in electricity

(3) Building houses of all kinds

(4) Construction of public works

(5) Architectural activities and related technical consulting

Details: Electrical engineering design consultancy

(6) Other production, n.e.c

Details: Production of building materials

(7) Wholesale of other installation materials and equipment in construction

Details: Wholesale of building materials

Internship Report – Nguyen Huong Quynh