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Báo cáo thực tập kế toán tại công ty cổ phần 473 INTERNSHIP REPORT AT NO. 473 JOINT STOCK COMPANY

Internship report

Supervisor: Mrs.Dang Thi Thuy Hang

INTERNSHIP REPORT AT NO. 473 JOINT STOCK COMPANY
TABLE OF CONTENTS
CHAPTER 1: OVERVIEW ABOUT NO.473 JOINT STOCK COMPANY
1.1. History and development of No. 473 joint stock company
1.1.1. General information
1.1.2. The Establishment and Development
1.2. Business activities
1.2.1. Characteristics of business
1.2.2. Business organization
1.3. Management organization
1.3.1. Model of management organization
1.3.2. Functions, responsibility of departments
CHAPTER 2: ACCOUNTING DEPARTMENT AND ACCOUNTING SYSTEM AT
NO.473 JOINT STOCK COMPANY
2.1. Accounting Department of NO.473 COMPANY
2.2. Accounting System at NO.473 COMPANY
2.2.1. Accounting Policies

2.2.2. Accounting documentations
2.2.3. Chart of accounts
2.2.4. Accounting Books
2.2.5. Accounting Reports
CHAPTER 3: ASSESSMENTS AND RECOMMENDATION ABOUT NO.473 JOINT
STOCK COMPANY
3.1.Assessments
3.1.1. Advantages
3.1.2.Disadvantagesand the causes
3.2. Recommendations
3.3. Conditions for appling the recommendations
CONCLUSION
REFERENCES

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List of abbreviations

No
1
2
3
4
5
6
7

Abbreviation
JST
2935/QĐ-BGTVT

Meaning
Joint stock company
2935/Quyết định- bộ Giao thông Vận tải


(Decision no 2935 of Misnitry of Transport)
BOT
Build-Operate-Transfer
BT
Build-Transfer
CEO
Chief Executive Officer
Circular 200/2014/TT-BTC on 200/2014/TT-BTC : 200/2014/thông tư-Bộ Tài chính
guidelines for accounting
policies for enterprises
HR department
Human Resources department

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List of tables and diagrams

Table 1.1. Company’s main activities
Table 1.2. Company’s main activities
Table 1.3.Foreign joint venture companies in some projects
Diagram 1.1. Diagram of management organization
Diagram 2.1.Diagram of accounting syste
Picture 2.1. CADS 2008 interface
Diagram 2.2.The process of transferring documents
Diagram 2.3. The process of recording account on computer
Diagram 2.4 The process of transferring documents in salary and wage
Diagram 2.5. The process of transferring documents in material and equipment
accounting

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Preface

In the market economy with the management of State-oriented Socialism, the
construction industry is an important sector, which is one of the factors to contribute to
the growth of country. With the fast development currently, the mission of construction
industry is not simple but we believe that with the experience, construction industry will
achieve the goal of national economy.
To achieve that, the construction industry in general and businesses in spectific have to
depend on many different factors.nterprises need to be really dynamic, constantly
innovate, develop their potential and their strengths, , which are the determinants of
success in the competition to win the favor on the market.
Recognizing the important issues mentioned above, No 473 Joint stock company
constantly innovate and develop their potentials and strengths to suit the actual situation
and the development of the country.
Especially in accounting system of company , No 473 JSC have a full and completed
accounting system that I have learned so much while I was interning in No 473 JSC
Using the knowledge that I has been teached at the school, along with the enthusiastic
help of the functional departments of No 473 JSC - where I have interned - I'm pleased to
present my report .
My report is divided into 3 chapters:
- Chapter 1: Overview about No. 473 joint stock company
- Chapter 2: Accounting department and Accounting system of No. 473 joint stock
company
- Chapter3: Assessments and Recommendations about No. 473 JoinStock
company’s accounting system

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Chapter 1: Overview about No. 473 joint stock company
1.1. The History and development of No. 473 joint stock company
1.1.1. General information
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Trade name : JOINT STOCK COMPANY No.473
Address : 07 – Nguyen Canh Hoan street – Vinh city – Nghe An
province
Director : Mr. Nguyen Xuan Hai
Phone: 0383.532229 Fax: 0383.532320
Bank account: 510100 00000 168 at Bank for Investment and
Development of Vietnam JSC
Tax code : 3000108087-1
Charter capital: 115.000.000.000 VND
Legal foundation: According to Minister of Ministry of Transport’s
decision no 2935/QĐ-BGTVT on 8th October,2010

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1.1.2. The Establishment and Development
- Development process:
 Former of No 473 JSC is the 71A company which was founded in 1973
by Ministry of Transport. The 71A company incharged of ensuring traffic
in the IV area.
 July 1977 ,the 71A company merged with No.871 company and took the
name No.773 company
 August 1978, No.773 company merged with No.869 company and
named No.473 company
 On 15th June, 1993,No.473 company officially established under the QĐ
– TCCB – LĐ decision of the Ministry of Transport.
 November 2002, No.473 company merged with No.480 company
under decision no 3871 of Ministry of Transport.
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Activities
Summarizing some current projects of No 473 JSC :

Table 1.1. Company’s main activities

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Table 1.2. Company’s main activities

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Achievements
 01 Independence Medal Second Class (2013)

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 01 Independence Medal Third Class (2002)
 04 Labor Medals First Class (1976,1985,1990,1995)
 05 Labor Medals Second Class (1973, 1974.1990, 1994 )(which has 1
Medal for individual)
11 Labor Medals in 1975, 1980, 1983, 1990, 1993, 2001, 2013
(which has 5 Medals for individuals)
 211 Medals of Resistance against American to save country
 05 Souvenir flags were given by Prime Minister as awards (1976,
1980, 2000, 2001, 2002)
 08 Emulation flags of the Prime Minister (1976, 1990, 2000, 2001,
2002, 2004, 2006, 2012)
 11 Emulation flags from the Ministry of Transport (1974, 1976, 1980,
1990, 1993,1994, 1998, 1985.1987,1999, 2002)
 96 Merit certificates from Ministry of Transport and People’s
Committee of province
 5 Gold medals for quality of: Hien Luong bridge , Dong HA bridge ,
Quan Hau bridge, Song Hieu bridge,Do Luong bridge.
No.473 JSC also received Labor Medal Class 3 by Prime Minister as a
hero in innovation period.
Company was rated Class I in the field of construction. Dong Ha Bridge,
Hien Luong Bridge. Tunnel No. 8, Cua Hoi Port ...are No.473 JSC’s
projects . September 2002, No473 company was certified quality
management standard ISO 9001: 2000 ... Currently, the company is
conducting equitization and sell shares to raise more investitions in order
to create more capital for business activities .

1.2. Business activities
1.2.1. Characteristics of business
- Business activities:
 Construction of transportation, irrigation, industrial, civil and
electrical works in VietNam and abroad
 Investing in the construction of public transportation in the form of
BOT, BT
 Production and trading of construction materials
 Export and import materials and equipment of transportation
 Construction of 35 KV power substations and lines
 Testing of building materials and quality of traffic construction

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 Designing traffic construction
 Real estate business
 Services, trading , supply of materials business
 Rental services
1.2.2. Business organization
- Competitive tendering process (8 steps):
Step1 : Preparing for bidding
Firstly , marketing department research information about
construction projects that suitable to company’s condition and
relation.
Secondly , company has to make examination of the tender
documents, quantity surveying, building construction plan.
Thirdly ,maketing/sale department research for market prices, and
building the estimation.
Last but not least ,make analysising of cost and company’s condition
to decide price
Step2 : Analysis and sign contract
After being announced successful bidding ,managers and some
departments prepare necessary documents to sign contract
All department participate in giving adivices to complete a legal
contract which give the most benefit for company.
Step 3: Building construction plan.
After signing the contract, company receive designing files ,
documents and estimate the quantity of the contruction
Next ,make research about the process of manufacturing technologies
and installation
Finally , establish the measures for construction.
Step 4 : Planning about human resources, managerment , safety ,
equipment, supplies , tools and capital for the construction
First of all,based on designing file and construction plan , Technical
department make plan about human resources and equipments that
the project will need .
Secondly ,Financial Accounting department make plan for capital and
cost needed for the project

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Finally ,HR department manager and distribute employees and
workers to construct

Step 5 : Distributing workers, machines, supplies and construction cost
At first ,company have to assign work item to construction teams
Then based on the measures of construction plans, all department
meet the construction requirement
Step 6 : Processing to construct
Building/construction teams follow the measures to construct
onstruction team leaders are responsible to company about schedule,
quality, testing and handover product according sequential basic
construction
Step 7 : Testing:
First, Product quality control committee was established to ensure
construction’s quality (daily or weekly )
Second, Safety committee in charge of labor safety
Step 8: Making construction finalization and contract liquidation
Construction finalization will be checked by both sides. Based on the
approval from both sides , contract liquidation will be formed
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Product distribution services :
Due to construction industry’s speciality, No 473 JSC ‘s product
distribution service is direct to the clients because the complete
product is construction works or equipment.
There are some foreign joint venture companies , but no intermediate
parties :
Table 1.3. Foreign joint venture companies in some projects :

No Contruction’s
and place

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name Foreign joint venture The length
companies

Value
(USD)

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1

2

3

4

The 25 bridges on
National Route 1A,
from Can Tho to
HCM city
Upgrading National
Route 1A ,from Vinh
to
Dong
Ha
( contracts no1 and
no2)
Upgrading National
Route 1A ,from Vinh
to
Dong
Ha
( contracts no3 and
no4)
Tan
De
Bridge
( NationalRoute 18)Nam Dinh , Thai
Binh

Supervisor: Mrs.Dang Thi Thuy Hang
SAMWHAN
KOREA

3450m

30.080.000

SAMWHAN
KOREA

162km

55.090.000

GUMI 126km

47.217.000

KUMAGAI
JAPAN

KEANGAM KOREA 1042km

25.000.000

1.3. Management organization
1.3.1. Model of management organization

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Diagram 1.1. Diagram of management organization
Note:
Direct management :
Functional management :
Description
No 473 JSC's managerment system is all the power focus under 1 person
– Director. Three deputy director will help the director in managing
business and employees , offering the solution and advices, the
policies, ... In addition, the complex problems or important issues will be
decided by Board of directors .
Main roles of each position :
 Director is the representative of the State at No 473 JSC, who was
appointed by the CEO of Construction 4 Coproration. Director is
directly responsible for all the activities and results of company’s
activities to the State.
 Vice Director’s main role is to help director on managing the
company, on behalf of the manager business when director is absent.
 Chief of Accountant is responsible for finance of company, preserve
and develop the company's capital.

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 Head of department directly manage, supervise and distribute tasks
to the employees .
1.3.2. Functions, responsibility of departments
- Technical Department:
This is the department which participate in bidding . They also in
charge of preparing effective construction plan, quantity surveying
and checking measurement, surveying on technical data .Beside that ,
they build the technical norms, inform workers about the processes
and rules of construction.
- Sales Department :
Sale department also is a very important department in company.
First role of sale department is to develope strategies for company’s
development, market expansion .Second they set up projects, build
long-term and short-term business plans.At the same time they set up
the process of business tasks and provide datas to director.
Beside that, sale department is responsible to the Director of the
bidding documentation, planning and directing to ensure the quality
and progress of works. In addition, they give advice to director on
signing financial contracts. Finally, they in charge of managing
profit .
- Financial Accounting Department:
This department is responsible for ensuring capital for production and
business activities, balancing between receipts and payments,
handling the information of capital, collecting documents, organizing
product costs of each work items, defining income.
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Accounting department
Overall responsibility:
Accountants plan loans for short,medium and long-term to producing
on time. Tracking the increase and reduction of the fixed assets,
selecting the appropriate depreciation method , gathering repair cost
for fixed asset to distribute into production costs . Every month,
accountants makes sure the salary distribution is fair and reasonable.
Main roles:
 Giving advices to the director on financial management and
proposing solutions to improve the efficiency of capital and assets in
the company.

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 Developing policies on financial and accounting transactions within
the No 473 JSC. Providing money on time and correctly for
company’s activities. Preparing the financial statement on time.
Material and Equipment Department
One of Material and Equipment Department’s responsibility is to give
the director advice on managing and using company’s supplies and
equipment. Moreover they plan inspection, repair and maintain the
technology systems of company. Proactive to seek for material
sources, ensure the quality of materials for using in
construction.Finally they in charge of arranging supplies and
materials into the warehouses
Human Resources Department:
Firstly HR Department organize the labor sources logically (training,
…), build labor’s norms and salary.
Secondly they are responsible for the implementation of policies
about environment, healthy and safety work place in No 473 JSC.
Establishing HR policies and how to manager employee, policies
about preserving documents and managing employees’s profiles and
contact list
Finally, they supply office equipment, managing internal’s paper
works and external relations.
The Construction Teams :
This is the department which directly build construction, mobilizing
available resources of human resources ,capital, supplies,tools,
equipments ... to complete the construction.

Chapter 2: Accounting department and Accounting system of No. 473 joint stock
company
2.1 Accounting Department

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Diagram 2.1. Diagram of accounting system in No 473 JSC
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Functions of each accounting section
 Cheft accountant is responsible for all financial activities of the
company. Accountants’s duties have close relationship with each
other, which help chief accountant know the financial situation of
the company clearer and faster. At the same time,chief accountant
is responsible to director about company’s financial situation,
accountants’s professional skill, Financial statement and reports ,
balance sheet of the company
 Deputy accountant work as assistants for chief accountant, in
charger of general accounting. At the end of each accounting
period , based on datas of other accountants , general accountant
check and record general ledger, nominal ledger detailing cost
under each item.
 Fixed asset and material accountant track the changes in import
and export supplies, fixed assets, depreciation of fixed assets. On

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the other hand, fixed asset and material accountant also have to
record account payable for the suppliers .
 Internal accountant manage company’s payment and liabilities ,
handle internal payment under each work item .In the end of each
month , based on payment document to distribute salary for
employees
 Bank accountant record receivables from customers, loans and
cash in bank
 Cashier directly manage cash, perform the payment with cash
when it has appropriate documents ,record cash in memo to
reconciliate with internal accountant
 Accountants work in construction teams record and gather
document into detailing ledger . Report for accounting department
monthly . Manage employees’s salary in each team.
2.2 Accounting system
2.2.1 Accounting policies
- Current policy in accounting : Circular 200/2014/TT-BTC on guidelines
for accounting policies for enterprises
- Fiscal Year: 1st January to 31st December
- The principle and method of converting other currency into Vietnam
Dong : According to the rates specified by Vietcombank in the time of
arising.
- Applicable accounting form: General journal.
- Applicable accounting software : CADS 2008 – this software is suitable
with a construction company , include sections such as: Data mining
system, general accounting, accounting and detailed reports , financial
statement,….

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Picture 2.1. CADS 2008 interface
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Policies :
 Fixed assets are valued or measured according to fixed asset’s
original cost .
 Depreciation method : NO. 473 JSC use Straight-Line
depreciation method
 Inventory :
 Principle: determined by the actual price
 Valuing inventory : First in First out
 Tax method : the method of deduction
 Inventory accounting methods: Perpetual method
 Calculating VAT : No473 JSC use deduction method
2.2.2 Source of documents
- Current policy applied in documents : Circular 200/2014/TT-BTC on
guidelines for accounting policies for enterprises
- No 473 JSC’s own documents:

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2.2.3 Chart of accounts
- Accounts that No473 JSC DOESN’T use :
 Account 1113 : Gold, metal, precious stone
 Account 1123: Gold, metal, precious stone

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 Account 113 : Cash in transit

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2.2.4 Accounting books
Everyday, accountants base on accounting documents or accounting
documents sheet, which is used as the basis for accounting book, identify
debit, credit to import data into the computer , form is designed on a
computer.
According to the process of accounting software, the information is
automatically entered into the nominal ledger and related accounting report
In the end of the month, accountant perform closeout accounting book and
start making financial statement. The comparison between the data
compiled with the detailed data is done automatically and ensures accurate
according the information has been entered in the period.
In the end of the month/ the year, nominal ledger , general ledger and
detailing ledger is printed in to books to perform legal actions
The process of transferring document

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The process of transferring document

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Diagram 2.2. The process of transferring documents
Note : Daily Record:
Record at the end of the month, or periodically:
Correlation, inspection:
Everyday , base on the accounting documents accountans record daily data in accounting
software a.k.a CADS 2008. In process of accounting software ( CADS 2008) the
information will automatically enter into List, general journal and accounting card
details. From general journal , accountant make general ledger .
At the end of each month, base on general ledger accountant make trial balance and base
on accounting card details , accountant make aggregate table details. Then at the end of
the year ( or the end of accounting period ) base on list,trial balance ,aggragate table
details , … accountant close the book , form accounting book and make financial
statement.

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The process of recording account in computer:

Diagram 2.3. The process of accounting documents in computer
2.2.5 Accounting reports
- Financial statement
 Policy is based on Circular 200/2014/TT-BTC on guidelines for
accounting policies for enterprises
 Including:
 Balance sheet
 Income statement
 Statement of Cash flow
 Notes to the financial statements
 Time of submission of Financial statment to the managerment
agency: within 90 days after fiscal year end
- Management report
 Report about material situation of No 473 JSC
- The period of report : 1st January to 31st December Fiscal year
2.3. Some Main accounting processes
2.3.1. Salary and wages accounting:
 Documents
 Salary payment sheet
 Labor contract

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 Allocation of salary and social insurance sheet
 Salary payment sheet for overtime
 Weekly employee timesheet
 Certificate of Social indurance Paid Sick Leave
 Accounts:
334 : Payables
338 : Other payable
3383: Social insurance
3384: Health insurance
3386: Unemploy insurance
3382: Labor union fees
 The process :

Diagram 2.4. The process of Salary and wages accounting
Note:

Daily entry
Automaticaly entry (to Ledger/Financial statement )
Reconciliation

Everyday,basing on employees and salary documents,salary payment table, time
sheet….accountants record them in the salary and wages section of accounting software
CADS 2008. According to the process of accounting software, the information is
automatically entered into the nominal ledger and related accounting report. General
journal , general ledger of accounts 334,338 and detailing ledger of accounts 334,338 are
formed

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At the end of the month,basing on general document sheet and data in accounting
software, accountant sum up and and start making financial statement , managerment
report.

2.3.2. Accounting for material and supplies
 Documents:
 Goods receipt note, goods delivery note

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