Luận văn Materials accounting in nissei electric hanoi company




1.1. Materials and materials accounting issues 3

1.1.1. Definition and characteristic of materials 3

1.1.2. Classification of materials 3 According to materials’ use 3 According to suppliers 4 According to purpose using 4

1.1.3. Measurement of materials 4 Determine cost of materials stored 5 Determine cost of materials used 6

1.1.4. Managing requirement and accounting duty for materials 9 Managing requirement for materials 9 Accounting duty for materials 10

1.2. Materials accounting 10

1.2.1. Detail accounting for materials 10 Parallel inventory cards method 12 Balance books recording method 12 Rotation collation books recording method 13

1.2.2. Synthetic accounting for materials 14 Periodic inventory system 14 Perpetual inventory system 17

1.2.3 Accounting for stock taking and revaluating of materials 20

1.2.4. Provision for decline in materials 22

1.2.5. Form of accounting books 23

1.2.6. Accounting software for materials accounting 25



2.1. Nissei group and Nissei Electric Hanoi Co.,Ltd 27

2.1.1. Nissei group 27

2.1.2. Nissei Electric Hanoi Company 30 The foundation and development process of the company 30 The characteristic of producing organization 31 The characteristic of management of the company 34 The characteristic of accounting system of N.E.H 37

2.2. Materials accounting in N.E.H 41

2.2.1. Accounts used for materials accounting 41

2.2.2. Characteristic and management of materials in N.E.H 42

2.2.3. Materials accounting at the beginning of month 46

2.2.4. Procedures for increment of materials in N.E.H 49

2.2.5. Cost of materials stored and examples 51

2.2.6. Materials accounting at the end of month 61

2.2.7. Some special transactions 66

2.2.8. Materials accounting books 69


3.1. Suggestions to improve materials accounting in N.E.H 72

3.1.1. Opinions of materials accounting in N.E.H 72 Management system 72 Materials management 73 BPCS software 74

3.1.2. Suggestion to improve materials accounting in N.E.H 80 Classification and management of materials 80 Documents and reports 81 Other general solutions for N.E.H 81

3.2. Lessons for Vietnamese enterprises 81

3.2.1. Deploying ERP system in Vietnamese enterprises 81

3.2.2. Contribute enterprise culture with ERP 83

3.2.3. Lesson for materials accounting and management of materials 85





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l directors in Nissei group. GD monitors directly Export - Import, Production Managing and Purchase - Sale Department. Deputy General Director (DGD): works as the counselor of the GD. DGD monitors directly General Affair, Accounting and IT Department. Section Manager: there are three section heads monitor directly Engineering, Production and Production Engineering section. They plan, coordinate directly and supervise actions of the sections in general. General affairs department: offers a safe and healthy working environment and chances of learning by training both in and outside of the company as well as training in Japan, provides sufficient welfare and prompt salary; duties on recruitment, personnel management, updating new law policy and other administrative works. Accounting department: collects and records all economic transactions involved, draws financial statements monthly and supplies accounting information for managers, etc… IT department: is in large of installing, repairing and settling information and technology problems for the company like installing computer and other machinery ensuring to work fluently. Export-import department: implement import and export procedures timely and legally. Production managing department: controls the quantity of products according to orders on the system and the completing level those orders of workshops; gives solutions timely if necessary; deal with the differences on quantity of materials, goods…between invoice and reality or the system. Purchase department: contacts to customers and suppliers; implements purchasing process suitably and legally. Engineering section: make samples according to customers’ design and experiments with new products that are requested from N.E.J engineering Dept; test samples and appraise trial manufacture result before mass production; improve production process and educate for machine operators. They must be good at Japanese because they often contact to Japanese experts. Production section: manages and controls production of workshops, quality and quantity of products. Production engineering: deals with problems occurred in the production process. The characteristic of accounting system of N.E.H: Structure of accounting system of N.E.H: Due to the requirement of the operative organization and the managing ability, N.E.H accounting system is organized according to the concentration form that has only one central accounting department. Chief accountant - - General accountant Accountant of receivable amounts and revenues Accountant of payable, tangible fixed assets and inventories Accountant of bank deposit Cashier Accountant of salary and amounts withhold from salary  Diagram 2.4: Structure of the accounting department At present, the accounting department of N.E.H includes: Chief accountant and general accountant: supplies directly all accounting information to the director, gives suggestions of developmental strategy of the company such as mobilizing capital policy, investing policy; assumes general responsibility for information supplied by the accounting department as well as is the general accountant who synthesizes data, assemble costs… to make financial statements. Accountant for receivable amounts and revenue (AR): monitors and records all receivable amounts in detail, ensures fully receiving debts; records timely every amount of revenue and makes detailed revenue reports; Accountant for payable amounts, fixed assets and inventories (AP): monitors and records all payable amounts in detail; records increasing and reducing of fixed assets timely as well as reflects their depreciation; records and monitors store and using materials and tool quantity, adjusts their quantity if there is any difference between invoice and practice, etc.. Accountant for bank deposit: determines payable amounts become due and implements transfer procedures for suppliers as well as customers (if any). Accountant for bank deposit, salary and amounts withhold from employee’s salary: gives salary to employees through accounts basing on the basic salary and the actual salary, calculates social and health insurance amount as well as trade union fee, tabulates Board of salary settlement and checks Board of timekeeping Cashier: pays cash to the domestic suppliers basing on approved payable vouchers, daily balances the accounts everyday; makes the report of balance of the budget at the end of day, makes the report of cash balance at the end of month. The accounting policy: Fiscal year starts on Jan 1st and ends on Dec 31st. The accounting period is month. Unit currency: USD N.E.H is an exporting-processing enterprise in the industry zone so it applies VAT rate: 0% (according to the circular 32/2007/BTC-TT); they must not pay for custom duties (according to the degree 149/2005/ND-CP) Tangible fixed assets accounting method: Evaluation principle: according to historical cost and depreciation amount; Depreciation method: Straight-line method. Inventories accounting method: Applying periodic raw materials system; Applying perpetual tools, spare-parts system and other materials; Determining cost of used material according to average method; Spare-parts are allocated for twelve months. Form of accounting books: N.E.H applies General Journal accounting form and uses accounting software BPCS for accounting process. Original documents General Ledger General Journal Subsidiary accounting cards and books Financial Statement Trial balance statement BPCS software  Diagram 2.5: Accounting process BPCS software is used for all accounting parts. Some accounting parts such as materials, revenue accounting are implemented entirely on BPCS. Other accounting parts such as settlement over bank accounts, fix assets or spare-parts accounting; the accountant must input the data by hand into the BPCS. Screen 1 of BPCS software: Screen 1 After input in users’ name and password, click Ctrl, screen 2 will be displayed: Screen 2 General Journal, General Ledgers and financial statements, etc… are available in BPCS but they are rough one. At the later every month, financial statements are made on Excel and sent to N.E.J including Balance sheets, cash flow statement, statement of operations and explanation notes accompanying financial statement. All the data and those books are kept on BPCS for the accountant checking. Therefore, N.E.H accounting department just keeps documents outside; General Ledgers, General Journal and other books are kept on BPCS. Materials accounting in N.E.H: Accounts used for materials accounting: Account system of N.E.H is set up following the Decision 15/2006/QD-BTC of the Ministry of Finance including detail accounts. Each account is displayed by six numbers. Appling the periodic system for Materials, main accounts are used as: Acc 611; Acc 331. Acc 152 is used to display the amount of materials at the opening and ending of each month. Account 611 Purchase account Acc 611100 Purchase of materials Acc 611101 Purchase of materials: it is used for materials imported from companies out of Nissei group Acc 611102 Inter-company purchase of materials: it is used for materials imported from companies in Nissei group Account 331 Payable amount 3311… Domestic trade payable Acc 331101 Trade payable-Domestic (USD): it is used for recording the amount paid in USD for materials imported from domestic Acc 331102 Trade payable-Domestic (VND): it is used for recording the amount paid in VND for materials imported from domestic 3312… Oversea trade payable Acc 331200 Trade payable-Oversea: it is used for recording the amount paid for materials imported from company out of Nissei group 3313… Inter group payable Acc 331301 Inter payable-NJ: it is used for recording the amount paid for materials imported from Nissei Electric Japan Acc 331302 Inter payable-NEHK: it is used for recording the amount paid for materials imported from Nissei Electric Hong Kong Acc 331303 Inter payable-NEZS: it is used for recording the amount paid for materials imported from Nissei Electric Zhongshan Acc 331304 Inter payable-NESH: it is used for recording the amount paid for materials imported from Nissei Electric Shanghai Acc 331305 Inter payable-NEV: it is used for recording the amount paid for materials imported from Nissei Electric Vietnam Acc 331306 Inter payable-NEKS: it is used for recording the amount paid for materials imported from Nissei Electric Kunshan In there, Acc 611101 and Acc 611102 are used for recording the materials’ value imported outside and in Nissei group. Then data from these two accounts is transferred automatically to Acc 611100. Therefore, N.E.H can control the amount of materials imported from different sources. Materials are mainly imported from Nissei group. Only materials that are imported from Nissei group are reported in detail. Acc 611100 is used when accountant transfers amount of materials at the ending and beginning of month. Characteristic and management of materials in N.E.H: BPCS is used to control the operations of company and includes MRP (Materials Requirement Planning) logic to manufacturing operations, provides high standards of data validity such as engineering specifications and inventory accuracy. With this system, materials are managed very efficiently from market research stage, define quantity of required materials for production to control materials in the process of manufacture. This help company avoid bad situations such as: materials stocked in warehouse too much or lack of materials, define wrong items for production or wrong manufacturing plan… This is the materials management process of BPCS: Yes No No Yes Strategy, market, development, diversification Budget, forecasts, stock levels, customer orders Business planning Master schedule Resources OK Resources OK Available of materials and suppliers performance Movement in and out, rejects, times Quantity, date of requirement per product Production program Materials requirements Calculation of workloads Bill of materials, stocks, work in progress, lead times, handing rules Schedule, route, work stations, capacity, efficiency Monitoring of execution Release of manufacturing and PO Priority control Internal and external priorities, workshops, scheduling Measurement of performance Control General planning Execution and control Detail planning Extended MRP MRP Flowchart 2.6: Materials Requirement Planning [13] Quantity of materials purchased is calculated according to type and quantity of products in order and quantity of materials remaining in the warehouse by BPCS software, BPCS was installed coefficients to do this. This means that when BPCS receives an order from customer for a specific type of products and its quantity, it calculates the quantity of needed materials for manufacturing these products according to this formula: Quantity of materials required for order = Quantity of products in order x Coefficient - Quantity of correlative materials remaining in the warehouse Customers of N.E.H are companies in the group such as Canon and Brother Industry Companies. They often order N.E.H to produce products according to their designs and requirements. These products require specific materials that N.E.H must import from suppliers in Japan, Hong Kong and even in Vietnam. Suppliers of N.E.H often are familiar, too. In some special cases, N.E.H has to order suppliers to manufacture materials to meet the customers’ requirements. These suppliers were chosen carefully before signing long-term contracts by N.E.H and they have their own code (six figures) in BPCS of N.E.H. About the payment due date: Materials are purchased from companies in Nissei group, N.E.H pays after the Delivery date in 120 days. Materials are purchased from companies out of group, N.E.H pays at the 25th of next month. To avoid lack of materials for production, N.E.H always predict the demand of materials for the next period which helps the company determine the amount of materials need to purchase more to reserve for production as well as materials need to limit import by automatic Purchase Order (PO), PO will be explained more in later part. Price of each material types imported from familiar suppliers is fixed in advance for a period of time. Then it is input into BPCS. For each Purchase order, BPCS defines the price unit and total cost of material imported. Therefore, Purchase Dept must not input the price of that material when they entry its’ invoice. N.E.H classifies materials into three types in three accounts: Raw materials: are used directly for production; (Acc No: 152100) Materials (no item): Acc No: 153301; Sub-materials (Acc No: 153302). In N.E.H, raw materials used directly for manufacturing occupy more than 90% manufacturing cost. At the end of month, N.E.H implements stock-taking of raw materials. Materials (no item) and sub-materials are used for supporting to production. Their values are too small to call as spare-parts or tools but N.E.H always imports them in high quantity. Their values are transferred gradually into products. Therefore, N.E.H keeps these materials in Acc 153301 (Materials no item) and 153302 (Sub-Materials) with tools and spare-parts to manage and allocates their value within twelve months into products’ value. Hereinafter, thesis mentions raw materials (materials) only. All materials are kept and checked by the stockman before inputting into the warehouse. Each material has its own code which is applied consistently in Nissei group. Each code includes seven numbers. Departments use these codes to call and manage materials. Types of material are arranged according to specific shelves. Stockman keeps all data involved to materials (invoice number, Number of package, code of material, quantity and package) by BPCS, packing list is supposed to be stock card. Stockman, Production Managing Dept and Purchase Dept are in charge of managing, controlling and repairing materials in quantity. If there is any difference between invoice and practice or BPCS, Purchase Dept will check it out and repair it. All repairs must be informed to the warehouse. Accounting Dept is responsible for managing, controlling and repairing materials’ value. This will be presented in detail later. Materials used for manufacturing Antenna: It takes from ten to forty kinds of materials to produce an Antenna. In order to make a standard, all stages in the manufacturing process must be done carefully and accurately. Materials must be checked thoroughly before using. List of some materials used for manufacturing antenna: No Name Item No Model No 1 Circuit Board 3047222 ANT.p0132-pcb 2 Sheet metal 3209053 Ant.p0128-p0413-metal 3 Antenna cover 3172152 Ant.p0141-p0476-metal 4 Resin molding (ABS) 3217223 Ant.p0124-p0395-abs 5 Flour Cable 3759574 Fpo134-pcb 6 Connector 3252641 Ant.po155-po375 7 Protected tube 3001522 St.po124-po135 8 Bankin 3324842 Ant.po156-po425 9 Shrinkable tube 3001414 St.po185-po175 … … … … Materials accounting at the beginning of month: In the early month, materials accountant transfers amount of materials from Acc 152100 to Acc 611100. The result of stocktaking received from Production Managing Dept in the end of February 2008 is the based for this entry: Inventory balance in the end of Feb 2008 Inventory data Unit: USD Profit Center Type Amount Adjustment Final Total 9611 Materials 49,566 -30,360 19,206 Works in process 36,353 Finished goods 75,036 -7,339 67,697 9662 Materials 58,229 58,229 Works in process 15,985 15,985 Finished goods 43,415 43,415 … … … … … 9600 Materials 2.564.476 -2.501 2.561.975 … … … … … Total Materials 3.138.261 -1.493 3.136.768 Works in process 249.773 249.773 Finished goods 392.756 -10.023 382.733 Total Inventory 3.780.790 -11.516 3.769.274 Due to these documents, materials accountant transferred materials from Acc 152100 to Acc 611100 follow to these screen for each area of company. For instance, to transfer materials at the beginning of month for warehouse (code: 9600), accountant uses these screen: From screen 2 presented above, click Ctrl à screen 3 Screen 3 Input VKE101 to go to Accounting menu, click Ctrl à screen 4 Screen 4 This is the main screen to go to detail screens after for recording transactions or show accounting books... Transfer transaction belongs to GL Entry (Ordinary) - BTP01, so Enter 2 in “Option Number” to implement transferring entry. Click Ctrl à screen 5: Screen 5 This screen is used for recording materials transfer transaction. Acct: 1: input 152100; 2: input 611100 CENT: 9600 (code of warehouse) Amount (Net): 25,619.75 (amount of materials transferred); Item Description: Input item Des in Vietnamese (KC nguyen vat lieu dau ky) Input item Des in English (Transfer Mat begin). After that, enter F6 to end this transaction. BPCS implements this entry: Debit Acc 611100 3.136.768 Credit Acc 152100 3.136.768 Voucher (No BT0000005) is printed out. (see File Excel) Procedures for increment of materials in N.E.H Materials in N.E.H can be imported from three sources: companies in Nissei group, import from foreign companies out of group and import from Vietnam. There are a few differences between these situations. If it is imported from Vietnamese suppliers: if amount of materials imported is higher than 1 million VND, a Domestic Sales Contract must be set up and if amount of materials imported is higher than 5 million VND, they must add a “Ringisyo”, a document of the purchase which is sent to the Director and confirmed by him. If it is imported from foreign companies, there are more automatic activities by BPCS when N.E.H imports from companies in Nissei group presented more detail below. A set of documents for increment of materials for three situations include: Purchase Order; Invoice; Packing List; Attach sheet (if any); Custom declaration; Freight Invoice (by forwarder); Application for remittance by fax ... Flowchart 2.7: Procedures for increment of materials (show in next page) (see File Excel) Order from customer is input in BPCS. The accepting the Order is decided by the Director. BPCS calculates quantity of correlative materials for production; creates PO automatically. Purchase Dept will decide to cancel, delete or send this PO to suppliers. If the supplier is a company in Nissei group, it creates Invoice, Packing List and Attach Sheet in BPCS and N.E.H loads these documents from BPCS for planning out its production. Then the supplier will send original invoice to N.E.H by DHL (a quickly transportation service). If supplier is a company out of Nissei group, they send these documents by e-mail and original invoice by DHL. Purchase Dept uses these documents to input data into BPCS in this screen: Transaction Type: default USD; Employee No: input code of purchase employee; Transaction Date: automatically display today; Purchase Order No: input number of PO; Transaction quantity: input quantity of materials imported for this transaction; Order Completion Status: if suppliers delivered materials sufficiently following to PO, input ‘C’; if not, input U. One PO can have many deliveries depending on requirement of N.E.H on this PO. Warehouse: default 2; all materials import directly to warehouse. Location: 9600; Invoice No: input number of Invoice that supplier sends to N.E.H. Purchase Dept must not input price of materials imported; BPCS calculates price of each material imported follow the Invoice No. Purchase Dept send these documents to Import Dept. Import Dept uses these documents for customs procedures; N.E.H imports materials by two ways: Ship or Aircraft. N.E.H rents some companies to do these procedures and transport materials to the warehouse for N.E.H. Materials are transported directly to the warehouse. Stockman gets the packing list in BPCS from the Import Dept, prints labels and sticks them on the materials. After checking the materials in packing list and signing in it, checker transfers it to stockman. If materials are not deficient in quantity, they must feedback to Purchase Dept to require the suppliers export more; if materials’ quality is not ensured, they must feedback to Purchase Dept to return materials to suppliers. If they are correct, stockman will input Invoice No, code and quantity of each material into BPCS. Everyday at 10p.m, BPCS deals with data, records detailed and synthetic books such as: ADS_uyen.csv, Buy book, General Journal and General Ledger; vouchers are prints out for accounting Dept checks. If there is any difference between BPCS and invoice in quantity, Accounting Dept announce to Purchase Dept for repairing. If the difference is value, Accounting Dept will repair. Cost of materials stored and examples: Materials in N.E.H can be transported by ship and aircraft. Then N.E.H hires a forwarder to process custom procedures and transport materials to warehouse. If the material is transported by ship (N.E.H usually uses this way for transporting big amount of materials): the PO for these materials is often sent to supplier soon. Cost of materials imported by this way is calculated in the following formula: Cost of materials imported = CIF price at Hai Phong port + Transportation cost If the material is transported by aircraft, N.E.H usually uses this way for some special situation such as: the demand for materials is in urgent or the amount of materials is not very big, etc… Materials are transported to Hanoi more quickly but the cost of insurance and freight are higher than imported by ship. Cost of materials imported = CIF price at Noi Bai airport + Transportation cost N.E.H’s forwarders are An Loi Co.,Ltd; ASEAN Transporting Services and Trading Co.,Ltd; Dragon Logistic Co. They are in charge of completing custom procedures for materials imported and transporting the materials to N.E.H’s. As usual, at the end of month, they send a list of transports as well as fee to N.E.H in that month. After receiving this document, materials accountant confirms it and input data into BPCS. Example 1: On the 5th of March 2008, N.E.H created a PO (No: NEH-NIHK/11- 12) in BPCS in order to purchase some materials and sent it to Nissei Electric Hong Kong (N.E.H.K). N.E.H.K created an Invoice No: NIHK 38924 with a packing list in BPCS in order to deliver materials follow to PO No: NEH-NIHK11- 12. N.E.H loads them from BPCS. (This Invoice has no Attached sheet). Materials were transported by ship. After Purchase Dept inputs data into BPCS, the system deals with these data and processes these entries automatically: Dr Acc 611102 32,406 Cr Acc331302 32,406 Example 2: On Feb 2008, N.E.H created a PO in BPCS in order to purchase some materials and sent it to Nissei Electric Japan (N.E.J). N.E.H required for delivery at times in March 2008. Japan created an Invoice (No: HC - 1196A) with an Attached sheet and a packing list in BPCS in order to deliver apart of materials required follow to PO at 14/03/2008. N.E.H loads them from BPCS After Purchase Dept inputs data into BPCS, the system deals with these data and processes these entries automatically: Dr Acc 611102 51,788.38 Cr Acc 331301 51,788.38 Documents of example 1 and 2 are presented in the next page.(see File Excel) Example 3: On 11th April, N.E.H received Invoice VAT (Invoice No: 0025687) from Dragon Logistic Co for transport materials for 24 shipments of March, total cost of transport is: 100.200.000 VND. Dragon Logistic Co., Ltd Hanoi head office E-4A Thang Long Industrial Park Dong Anh District, Hanoi, Vietnam Tel: 8812488 Fax: 8812489 Code: 0100112691 Format 01- GTKT- 3L- 01 Approved by official letter No 3572 TCT/AC Invoice (VAT) Sign: AA/2007T Copy 2th : To client Invoice No: 0025687 Client’s name: Nissei Electric Hanoi Co.,Ltd Address: Lot I-3, Industrial Park, Thang Long, Dong Anh, Hanoi Code: 0101877478 Payment Method: Transfer No Goods, services Unit Quantity Unit cost Amount A B C 1 2 3=1*2 Transportation VND 24 4.175.000 100.200.000 Value of goods or services 100.200.000 VAT rate: 0% VAT amount 0 Total amount 100.200.000 In word: One hundred millions, two hundred thousands Vietnam dong. Purchaser (Signature and name) Supplier (Signature and name) Director of supplier (Signature and name) Please effect payment to our A/C No: ………………………………… Date… Month…Year… Materials accountant inputs data into BPCS follow to this entry: Dr Acc 611102 100.200.000 Cr Acc331102 100.200.000 Screens for invoice entry: From screen 4, enter 21 to “Option Number” for invoice entry; then click Ctrl à screen 6: Screen 6 Act: must default 1; Co: must default 40; Vendor: input code

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