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Graduation thesis Academy of Finance STATEMENT OF ORIGINAL AUTHORSHIP I assure that the thesis "Accounting for salary and payroll related compensations" is my own research based on the actual data of HARITCO.,JSC, under the guidance of Mr. Mai Ngoc Anh. If there is anything wrong, I will take full responsibility. AUTHORSHIP OF GRADUATION THESIS TRAN THI THU AN Trần Thị Thu An CQ54/21CL.01 Page i
Graduation thesis Academy of Finance TABLE OF CONTENTS STATEMENT OF ORIGINAL AUTHORSHIP......................................................i TABLE OF CONTENTS.......................................................................................ii LIST OF ABBREVIATIONS................................................................................v LIST OF DIAGRAMS...........................................................................................vi INTRODUCTION.................................................................................................1 ACKNOWLEDGEMENTS.....................................................................................4 CHAPTER 1: GENERAL THEORY ON ACCOUNTING FOR SALARY AND PAYROLL RELATED COMPENSATIONS.......................................................5 1.1. Overview of salary and payroll related compensations...............................5 1.1.1. Definition.....................................................................................................5 1.1.2. The important of accounting for salary and payroll related compensations9 1.1.3. The mission of accounting salary and payroll related compensation........12 1.2. General accounting for salary and payroll related compensations............12 1.2.1. Fundamental and accounting standards related to accounting for salary and payroll compensations..........................................................................................12 1.2.2. Classification of accounting salary and payroll related compensations....13 1.3. Accounting detail for salary and payroll related compensations...............24 1.3.1. Accounting detail for salary.......................................................................24 1.3.2. Detailed accounting for payroll related compensations.............................28 1.4. Accounting book used in accounting for salary and payroll related compensations and presentation in financial statement.......................................31 1.4.1. Types of accounting book..........................................................................31 1.4.2. Accounting forms.......................................................................................34 Trần Thị Thu An CQ54/21CL.01 Page ii
Graduation thesis Academy of Finance 1.4.3. Presentation in financial statement............................................................36 1.5. Accounting software used in accounting for salary and payroll related compensations......................................................................................................38 1.5.1. Create a category........................................................................................38 1.5.2. Encoding objects........................................................................................39 1.5.3. Insert information and information processing..........................................39 CONCLUSION....................................................................................................40 CHAPTER 2: ACCOUNTING FOR SALARY AND PAYROLL RELATED COMPENSATIONS IN HA NOI RIVER ROAD TRANSPORTATION JOIN STOCK COMPANY............................................................................................41 2.1. Overview of the company..........................................................................41 2.1.1. The process of establishment and development of HARITCO., JSC........41 2.1.2. Characteristics of production and business in HARITCO.,JSC................42 2.1.3. Characteristics of organization and managing in HARITCO.,JSC............43 2.1.4. Accounting organization in HARITCO.,JSC.............................................45 2.2. Characteristics of labour-salary and management of labour-salary in the company...............................................................................................................50 2.2.1. Characteristics of labour in HARITCO.,JSC.............................................50 2.2.2. Forms of salary payment in HARITCO.,JSC............................................52 2.2.3. Regime of payroll related compensations in HARITCO.,JSC...................53 2.3. Accounting for salary and payroll related compensations in the company ……………………………………………………………………………55 2.3.1. Accounting for salary in HARITCO.,JSC.................................................55 2.3.2. Accounting for payroll related compensations in HARITCO.,JSC...........75 2.2.4. Labour management in HARITCO.,JSC...................................................91 2.4. Application with accounting software for salary and payroll related compensations accounting in HARITCO.,JSC....................................................97 Trần Thị Thu An CQ54/21CL.01 Page iii
Graduation thesis Academy of Finance CONCLUSION..................................................................................................102 CHAPTER 3: SOLUTION TO COMPLETE ACCOUNTING FOR SALARY AND PAYROLL RELATED COMPENSATIONS IN HA NOI RIVER ROAD TRANSPORTATION JOIN STOCK COMPANY...........................................103 3.1. General comment about accounting for salary and payroll related compensations in HARITCO.,JSC.....................................................................103 3.1.1. Advanatages.............................................................................................103 3.1.2. Disadvantages..........................................................................................106 3.2. Solution to complete accounting for salary and payroll related compensations in HARITCO., JSC....................................................................107 3.2.1. Completing in forms of salary and salary calculation..............................107 3.2.3. Completing vouchers...............................................................................109 3.2.4. Completing in accounting books for salary and payroll related compensations....................................................................................................110 3.2.5. Completing in accounting reports for salary and payroll related compensations....................................................................................................111 CONCLUSION..................................................................................................113 LIST OF REFERENCES.....................................................................................114 Trần Thị Thu An CQ54/21CL.01 Page iv
Graduation thesis Academy of Finance LIST OF Acc Account DIAGRAMS Diagram 1.1: Cr Credit Structure of account 334..........................................................................................................25 Dr Debit Diagram 1.2: Accounting for salary VND Viet Nam Dong structure. . .26 Diagram 1.3: Structure of account 338..........................................................................................................29 Diagram 1.4: Accounting for payroll related compensations structure...............30 Diagram 1.5: The order of transferring documents in accounting form of General Journal..................................................................................................................35 Diagram 2.1: Production process of HARITCO.,JSC.........................................42 Diagram 2.2: HARITCO.,JSC organization structure.........................................43 Diagram 2.3: HARITCO.,JSC Accounting department.......................................45 Diagram 2.4: Labour and salary management structure at HARITCO.,JSC.......95 Trần Thị Thu An CQ54/21CL.01 Page vi
Graduation thesis Academy of Finance LIST OF TABLES Table 1.1: The ratio of insurance contribution and trade union fees.....................7 Table 2.1: Labour classification at HARITCO.,JSC............................................51 Table 2.2: Excerpt from salary allocation table of welding group.......................62 Table 2.3: Timesheet of Financial and Accounting department at HARITCO., JSC August 2019..................................................................................................66 Table 2.4: Payroll sheet of Official department August 2019.............................67 Table 2.5: Salary payment in office department – Time base salary...................68 Table 2.6: Detailed book of Account 3341..........................................................70 Table 2.7: General Journal of Account 3341.......................................................72 Table 2.8: General Ledger of Account 3341 of HARITCO.,JSC in August 2019 ..............................................................................................................................74 Table 2.9: Social insurance spread sheet in August 2019....................................79 Table 2.10: Detailed book of Account 3382........................................................83 Table 2.11: Detailed book of Account 3383........................................................84 Table 2.12: Detailed book of Account 3384........................................................85 Table 2.13: Detailed book of Account 3386........................................................86 Table 2.14: General Journal of Account 338.......................................................88 Table 2.15: General Ledger of Account 338........................................................90 Trần Thị Thu An CQ54/21CL.01 Page vii
Graduation thesis Academy of Finance LIST OF IMAGES Image 2.1: Excel window screen.........................................................................49 Image 2.2: Cyber window screen.........................................................................50 Image 2.3: The form of payment demand letter at HARITCO.,JSC...................81 Image 2.4: The form of payment slip at HARITCO.,JSC....................................82 Trần Thị Thu An CQ54/21CL.01 Page viii
Graduation thesis Academy of Finance INTRODUCTION 1. The importance of the research topic Labour is not only a necessary condition for human evolution but also a decisive factor for the existence and development of the production process. Moreover, in all social regimes, labour always plays a very important role in the regeneration of material and spiritual wealth for society. Nowadays, the human factor is always at the forefront in enterprises. Labours only bring out their best ability when their labour force is compensated appropriately. The worthy compensation here is nothing more than salary and salary allowances. Salary is a monetary representation of the labour cost that the enterprise pays to employees over time, according to the amount of work that the employee has devoted to the enterprise. Salary is also an economic lever to encourage hard- working spirit of employee, stimulating and creating employees' interest in the results of their jobs. Recognizing the importance of salary accounting and salary allowances, by the knowledge learned in combination with practical research at Hanoi River transport Join Stock Company, I chose the topic " Accounting for salary and payroll related compensations in Ha Noi River Road transportation Join stock Company” (HARITCO,.JSC) for my graduation internship dissertation. 2. The purpose of research - To research and clarify the basic theoretical issues of salary and payroll related compensations Trần Thị Thu An CQ54/21CL.01 Page ix
Graduation thesis Academy of Finance - To research on accounting for salary and payroll related compensations in enterprise - To analysis, assesses and recommends any solutions to complete accounting for salary and payroll related compensations in enterprise 3. The object and scope of research - Object of research: Accounting for salary and payroll related compensations in Ha Noi River Road transportation Joint stock company (Form of salary payment, transfer voucher, …) - Research scope: + Contents: Accounting for salary and payroll related compensations in enterprise in aspect of financial – accounting. + Business: Ha Noi River Road transportation Join stock Company; No. 881, Bach Dang Road, Hai Ba Trung Ward, Bach Dang District, Ha Noi City, Viet Nam. + Period: Accounting for salary and payroll related compensations in 2019. 4. Research methodology Research is based on the methodology of dialectical materialism and historical materialism. Specific research methods: In order to collect and process data and present research results, the authors apply a combination of methods of theoretical research, fieldwork, interviews, expert consultation, statistical data, analysis, comparison as follows: Trần Thị Thu An CQ54/21CL.01 Page x
Graduation thesis Academy of Finance - Collection of primary documents: The author asked and consulted directly with the accountants and other employees in Ha Noi River Road transportation Join stock Company. In addition, the author explores research issues through consulting with instructors and accounting experts. - Collection of secondary documents: The author conducted research theoretical issues through reference textbooks, articles, academic papers… about accounting. Collect secondary documents on the situation by observing methods, studying documents, accounting books, financial statements of Ha Noi River Road transportation Join stock Company in 2019. Information could also be collected via the media and other documents. - Summarizing and processing data as evidence for the research results: The author uses descriptive statistical methods, qualitative or quantitative analysis and comparison between the reality and theoretical basis or accounting regime to present research results. 5. The structure of the dissertation Chapter 1: General theory on accounting for salary and payroll related compensations Chapter 2: Accounting for salary and payroll related compensations in Ha Noi River Road transportation Join stock Company Chapter 3: Solution to complete accounting for salary and payroll related compensations in Ha Noi River Road transportation Join stock Company Trần Thị Thu An CQ54/21CL.01 Page xi
Graduation thesis Academy of Finance ACKNOWLEDGEMENTS Ha Noi, May 25th, 2019 To Teachers in Academy of Finance, To Director and all of Officer Staffs in HARITCO.,JSC First of all I would like to express my deepest gratitude to all teachers in Accounting Faculty. I'm grateful to you for your help and transfer of precious experience which will prepare knowledge us for our career. Especially, I would like to express my gratitude to my guidance teacher, Mr. Mai Ngoc Anh, who supports me a lot during my internship. I want to take this opportunity to say thank to the Board of Directors as well as all the staff in accounting department of the company. Thank you very much for your kind corporation during my internship. Sincerely Trần Thị Thu An CQ54/21CL.01 Page xii
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