Báo cáo thực tập tiếng anh MECHANICAL PRODUCTS EXPORT IMPORT COMPANY LIMITED

VIETNAM NATIONAL UNIVERSITY, HANOI
INTERNATIONAL SCHOOL
***

GRADUATE INTERNSHIP REPORT
INTERNSHIP COMPANY/INSTITUTION:
MECHANICAL PRODUCTS EXPORT - IMPORT COMPANY
LIMITED
Address: No. 37, Tràng Thi Street, Hoàn Kiếm District, Hà Nội

Supervisor: Ms. Hoàng Kim Thu
Student’s full name: Nguyễn Thị Hà Ly
Student’s ID: 11071499
Major: International Business
Class: IB2012
Hanoi,…March 11, 2016…


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LETTER OF THANKS
Internship period is one of the most important event of senior year students.
We – students have to face a lot of difficulties due to lacking of experience,
knowledge and skills. Therefore, to finish it, I can only do it with great help from
everybody.
Firstly, I would like to say thank you to International School – Vietnam
National University for encourage me with all supports to do my internship
abroad. Especially for board of directors of IS-VNU, along with Ms.
NguyễnThịLêVân, Officer of Department of Academic Affairs and R&D and all
teachers, officers and judges for helping me with paper works as preparation for
working, as well as create chances for student to experience new working

environment in general, and evaluation for ourgood.
Secondly, I would like to express my grateful to MECANIMEX, especially
to Ms. NguyễnThanhBình, Ms. Trương An Phúc – Chief Export-Import Business
Department for their dedicated guidance and heartedly training, which contributed
a lot to my working experience and learning progress.
Lastbutatmost,IwouldliketosendbygreatestthankfulnessspecialforMrs.
Hoàng Kim Thu, for her great guidance. I might cannot perform well as well as
finishthis internship report without her hearted advices and guidance. She
supported me not only through the report, but also during my internship which I
faced a lot of problems due to new working environment. With her kind helps and
knowledge, I may had chances to overcome difficulties and contributed to
MECANIMEX. Thank you a lot, Ms. Hoàng Kim Thu.
I would like to say thank you all so much for your great support. I am truly
appreciated.


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Contents
Contents...............................................................................................................3
CHAPTER I. BACKGROUND OF INTERNSHIP COMPANY (MECANIMEX)..................................................................................................5
1. General business information...............................................................................5
2. Establish and development of MECANIMEX.....................................................5
3. Mission, vision and core values............................................................................7
4. MECANIMEX’s organizational structure...........................................................7
5. Product, market and target customers..................................................................8
a. Product...............................................................................................................8
b. Market...............................................................................................................9
c. Target customers.............................................................................................10
d. Supplier/ Producer...........................................................................................10

CHAPTER II. Report findings about production and busines activities of
MECANIMEX...................................................................................................10
1. General manufacturing operations and business................................................10
a. SWOT analysis................................................................................................10
b. Company’s current performance situation.....................................................15
2. Business activity base on value chain................................................................21
3. Business activities base on function...................................................................22
4. Depth analysis of the financing - accounting department..................................24
CHAPTER III. Target internship, tasks assigned and methodology............26
1. Target of graduate internship..............................................................................26
2. Tasks assigned and methodology.......................................................................26
CHAPTER IV. Result achieved during internship.........................................28
1. Content of theoretical knowledge was strengthened..........................................28
2. Gained skills........................................................................................................29


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4. Contribution to MECANIMEX..........................................................................30
5. Further suggestion for improvement..................................................................30
REFERENCE....................................................................................................34

INTERNSHIP REPORT


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CHAPTER I. BACKGROUND OF INTERNSHIP COMPANY (MECANIMEX)
1. General business information
- Trading name:

Mechanical Products Export- Import Company

Limited .
- Abbreviated name: MECANIMEX CO., LTD
- Head office:
- Branch:

No. 37, TràngThi Street, HoànKiếm District, HàNội.
No. 12, NguyễnThị Minh Khai Street, 1 District,

HồChí Minh City.
- Tel:

04.8244138

- Fax:

04.9349904

- Email:



- Website:



2. Establish and development of MECANIMEX
Vietnam Mechanical Products Export - Import Company (MECANIMEX)
was founded in 1985 by the combination of Machino’s department and Tocontap’s
department according to the decision made by the Minister of Industry of Vietnam.

Since its foundation, MECANIMEX has developed unceasingly and has gained a
good reputation and trust from domestic as well as international business partners.
- The period 1985-1990: The company mainly did business under the
Protocol of Vietnam’s Government with socialist countries:
-

The Government targeted export of mechanical products to Eastern

European countries such as: the Soviet Union, Czechoslovakian, Poland, Cuba,
etc.
The Government targeted import of materials (mainly materials for
producing export goods).


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- The period 1990-1995: This period marked the strong transition of
country’s economy after the sixth national party congress. MECANIMEX became
a business under the market mechanism and encountered many challenges.
However, along with the agility and flexibility in direction and working efforts,
the company achieved remarkable results such as: Only in 1991, the company
exported 1000 tons of tin to Thailand, Singapore, Japan, etc. From 1991 to 1995,
MECANIMEX was the nation’s second biggest exporter of tin in high turnover.
- The period 1995-1999: along with the business activities, the company
developed and successfully implemented two joint venture projects with foreign
partners, namely:
MECANIMEX had the joint ventures with Electronics Corporation of
Korea in producing air conditioners, washing machines, refrigerators, etc. Jointventure products have been sold well, accounting for a large market share in its
sector in Viet Nam.
It also set up joint ventures with Thailand to produce swab. In early 1998,
the company started trial production and after a short time, many types of products

were sold in Vietnam.
- Period 1999-2005: the company’s business operation still faced many
difficulties but MECANIMEX maintained the business with profits and ensured
employees’ income.
On March 9th 2004, TừSơn Fastener Factory was merged into
MECANIMEX. On November 2nd 2004, Mechanical Products Export- Import
Company was converted to Mechanical Products Export- Import Company
Limited.
- From 2005 to 2010: the company continued to enlarge its business scale
and obtained the large market share in the market of mechanical products.


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Especially, in 2006, all employees of TừSơn factory welcomed the first
thread rolling machine of Vietnam. This machine was purchased in the program of
modernization and technological innovation of the company to equip new devices
for the factory.
Additionally, in 2007, the Vietnam’s entrance in WTO brought about many
great opportunities for domestic enterprises, but also many risks and challenges.
The company earned a lot of profits in exploiting and making good use of export
and import opportunities on the markets.
For 2010 to now, MECANIMEX has also faced many difficulties due to the
global economic crisis. However, the company has been trying to maintain
business and gradually becoming more stable.
3. Mission, vision and core values
- Mission: To provide high-quality products and services in the mechanical
engineering, contribute to the economic development and improvement of quality
of life of Vietnamese people.
- Vision: To become a national symbol in the mechanical engineering.
- Core values: Straightforwardness - Sense of responsibility Creativity -

Cooperativeness.

- Slogan: With available potentials and various and flexible methods of cooperation, MECANIMEX would like to co-operate with all domestic and
international business partners so as to gain bigger and continuous steps of
development!
4. MECANIMEX’s organizational structure
MECANIMEX’s structure is quite simple but it still ensures effective
operation, without overlapping. Some departments of the company merge
together. This is shown clearly in the chart below:


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Chart 1.1.MECANIMEX’s organizational structure
Board of directors

Administrative
departments

Sales
departments

Branch & office

PesonnelPlanning
Departments

Trade
promotion &
investment dep

Representative
office in
HaiPhong

Finance &
accounting
Department

Export-import
department

Southern
branch in
HCM city

General Affair
Department

Domestic sales
department

Subsidiary

Tu Son
fastener
factory

Source:
5. Product, market and target customers

a. Product
- Export: Mechanical and metallurgical products, minerals such as: tin
ingots, wolfram and chromate ore, machine tools, locks, scissors,etc.
Besides, the company is always ready to fill various orders for consumer
goods, agricultural products and handicrafts of foreign customers.
- Import: Steel, iron, plastic, materials, equipment for such fields as:
industry, medicine, construction, transportation and some other consumption
goods such as: water pump, electric cooker, home appliance, etc.


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In addition, the company takes over entrusted import of required units.
- Producing air-conditioners, washing machines, refrigerators, cotton buds,
etc in co-operating and setting up joint-ventures with both domestic and foreign
companies.
- Manufacturing all kind of commodities for domestic consumption and
export such as: iron and wooden furniture (tables, chairs, etc).
Additionally, the company also does business in:
- Producing and exporting agricultural products, food, animal feeds, etc.
- Doing business in restaurants, hotels, offices, houses, real estate, etc.
- Services in trade exhibitions of machinery, equipment and industrial
goods.
b. Market
For the major markets, MECANIMEX has foreign markets including export
and import markets and domestic market. Foreign markets: the company has the
business partners in various markets in the world.
European Areas
The major export markets of MECANIMEX are European countries. After
Vietnam’s entrance in WTO, MECANIMEX has had more opportunities to
expand European and Latin markets. Moreover, the company exports a number of

agricultural products to European markets due to high demand on these markets.
Asian Areas
MECANIMEX imported largely from Asian markets such as Japan, China,
Korea, etc. And the import turnover from Korea market was the most.
Domestic Areas


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Supply of goods for export, including many companies, factories in HàNội,
HảiPhòng, TháiNguyên,etc.
Many companies, agencies, stores buy company’s import goods in
TràngThi, TràngTiền, HaiBàTrưng, ThanhXuân, etc.
c. Target customers
Customers of the company: To determine its position on the market, the
company always focuses on finding new customers and maintains relations with
traditional customers.
+ Foreign customers: Kyk tools industrial Co, Ltd, Aquarius company
(Taiwan), Venture international, traders ple. Ltd ( Singapore), Eujor (Korea),
Vietso Petro (The UK), etc.
+ Domestic customers: TháiNguyên iron and steel joint stock corporation,
Hànội minerals, Hànội mechanical company, PhúThái Co Ltd, TânCương Co Ltd,
SôngĐà construction corporation, etc.
d. Supplier/ Producer
The company has many suppliers or producers from import countries
(Korea, Germany, Japan, England, etc), TừSơn Fastener Factory.
CHAPTER II. Report findings about production and busines activities
of MECANIMEX
1. General manufacturing operations and business
a. SWOT analysis
After having some basic information about the company, it is also essential

to

have SWOT analysis of the company. It is shown in detail below.
SWOT analysis is an analytical framework to help summarize internal and

external factors of the company. Therefore, it is easier to set a strategic plan or
present new ideas for company’s problems.


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Strengths
Professional workforce
The company has established for more than 30 years with highly skilled,
experienced and faithful employees. The workforce is professional, graduated
from prestigious universities. The company also emphasizes on improving skills
by opening training courses each year. Therefore, the productivity constantly
increases.
Qualified leaders
In trading area, the leaders of company who are creative, dynamic,
experienced ones contribute significantly to company’s success. They always try
to ensure good operation of the company’s activities and develop right strategies
to help company be more successful.
Strong brand name in mechanical export and import industry
The company was founded in the 1980s when the heavy industry, especially
the import and export industry was still underdeveloped. The company has also
gained a lot of achievements in the field of mechanical industry. In addition,
MECANIMEX became one of the leading companies under Corporation of
Machines and Industrial Equipment. To this strength, the company not only has
advantages in developing markets but also exploit capital of partners.
Experience in export and import business and industrial production

The company has over 30 years of experience in export and import
activities as well as industrial production. Additionally, highly skilled employees
and professional leaders also help gain much more experience in business of the
company. This helps develop advantages on the production of mechanical
equipment of the factory by enlarging export markets for existing products of the
factory and finding new goods sources.
Greater capacity


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Since TừSơn factory was merged into MECANIMEX, the factory has
always been trying its best in industrial production, contributing to the company’s
revenue and success. In 2010 and 2011, the factory signed a contract in producing
high quality products with VIETSOVPETRO enterprise and some other business
contracts. The factory continues to produce high-quality industrial products,
supporting heavy industry and other industries. Additionally, the company can
utilize facilities of the factory on land, factory’s equipment, workers to call for
foreign investment. Therefore, there are many opportunities for TừSơn factory to
carry out production effectively.
Weaknesses
Underdeveloped infrastructure
The company’s infrastructure is underdeveloped with simple, asynchronous
warehouses. It increases business costs and risks in the inventory management for
import goods.
Poor market researches and activities of marketing
The activities of promotion and marketing as well as market researches are
undeveloped because the company was founded in the subsidies period, market
and marketing were also poor. Nowadays, market trends are rapidly changing so
that the research or marketing promotion needs to be done more quickly and
flexibly.

Opportunities
Widened markets
Many countries such as Germany, France, Taiwan, etc have high demand of
importing mechanical equipment and agricultural products. Vietnam is one of
exporters that have high-quality products and lower costs than others.
Additionally, MECANIMEX has had joint venture with Thailand and Korea in
production and has gained certain achievements. In recent years, the company has


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made joint venture with Vietnam Chemical Export and Import Company Limited
in office leasing services. In addition, the Corporation of Machines and Industrial
Equipment often assigns many contracts to MECANIMEX that help the company
enlarge markets and improve reputation. In the coming time, there are many
opportunities of enlarging domestic and foreign markets that help the company get
more profits and increasingly confirm its position.
Stable business environment
After twenty-five years of carrying out the DoiMoi process, Vietnam has
recorded significant achievements in mechanical industry. From an agricultural
country, Vietnam has grown the economy towards industrialization and
modernization. Moreover, Vietnam is recognized one of countries that has stable
politics. Therefore, there are still many opportunities for Vietnamese enterprises to
develop and expand business markets.
Threats
Economic difficulties
The global economic crisis has influenced Vietnam’s economy in general
and the company’s operations in particular. High inflation, high unemployment,
low consumption power and many problems have affected the company’s business
operation, resulting at low level.
Poor consumption network and increased clients’ debt

The company only has a branch in HồChí Minh city. Moreover, this is the
mechanical industry and the company serves much in heavy industry or
construction and transportation. Moreover, due to economic difficulties,
consumption power was low. All above reasons influence the consumption
network of the company. In addition, customers’ debts are increasing, in which
there are many bad debts because of problems in capital, prices, inflation, etc. This
is not a small threat to the company in the coming time.


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Limitations in export goods
- Export of mechanical products: In fact, the strength of Vietnam’s export
mainly is agricultural products, foot wears and garments. In order to export
mechanical products with precision and high technology, it is indeed a problem.
- Export of minerals: The export of minerals is increasingly limited because
natural resources of the country is more and more exhausted. In addition, some
minerals are banned to export such as iron ore, copper ore, manganese, apatite, etc.
Therefore, the company needs to research markets and goods sources for
supporting export activities.


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SWOT analysis
Strengths

Weakness

- Professional workforce

-

- Qualified leaders

infrastructure
-

- Strong brand name in
mechanical export and

Underdeveloped

Poor

market

researches and
activities of marketing

import
industry
- Experience in export
and import
business and industrial
production
- Greater capacity
Opportunities

Threats

- Widened

- Economics difficulties

-

Stable

environment

business

-

Poor

consumption

network and increased clients’
debt
- Limitations of export
goods

b. Company’s current performance situation


Company’s export and import situation


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Even though the business is profitable, the striving to fulfill the targets of
revenue and total import and export turnover is a problem for the company in the
circumstances of economic recession and high inflation.
The value of import and export turnover in 2015 was USD 2.522.000,
reached about 70% under the target. In particular, the export turnover and the
import turnover was USD 642.000 and USD 1.880.000, reached 32% and 117,5%
beyond the target, respectively. In short, the target of import and export turnover
of the company in 2015 was only 76% compared to 2014.


Company’s business results

Company’s business results are analyzed via the following criteria:
revenue, profit, average income, costs, capital, and the value of industrial
production.
- Commercial revenue: in 2015 it was to be about VND 90 billion, reached
53,33% and 68% under the target and 2014, respectively. Revenue in 2014 was
about VND 132.534 million, reached 66,3% compared to 2013.
It is shown in the figure below:
Table 2.1.Revenue and profit of the company in three recent years.
In: VND million
Items

Year 2013

Net revenue

199 896

Profit

399

Year 2014
132 534
409

Year 2015
90 000
365

Source: Financial report in 2013, 2014, 2015
From the table above, we can see that revenue of the company in the last
three years declined gradually. The reasons were the impacts of world economic
crisis. Moreover, market mechanism has changed more and more. MECANIMEX
is no longer the export unit with the exclusive right. More and more companies
had the direct right to export and import products. In addition, the company did
not found substitute products. However, profit increased in 2014 because of other
activities such as offices for lease, joint ventures,etc, but it decreased in 2015 due


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to low revenue. Profit in 2015 achieved under the target but was still lower than in
2014. Particularly, the total budget did not meet the target because the total
revenue decreased.
- The average income: It is also an index to reflect general business
effectiveness of the company. It is the significant motivation to promote
employee’s optimism at work.
Here is the summary figure on the average income of MECANIMEX’s staff.
Table 2.2. The average income in the period 2005-2015

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Year

Average income

Growth ( %)

(VND 1000)
2005

1.025

14.525

2006

1.269

23.804

2007

1.525

20.173

2008

1.950

27.864

2009

2.350

20.512

2010

3.025

28.723

2011

3.605

19.173

2012

4.525

25.52

2013

4.815

6.4

2014

5.168

7.3

2015

5.434

5.1

Source: Business operation report of MECANIMEX in the period 2005-2015
It can be seen that in 2005, the average income was 1025000 VND per
capital per month. By 2014, this figure rose to VND 5434000, an increase 5,1
times. The average growth in this period was 20.034 %.
- Costs: Financial costs, costs of goods sold, administrative costs and other
costs of the company were shown in this figure below:
Table 2.3.Company’s costs in the last three years.
In: VND million
Years
Year
2013

Year 2014

Year
2015


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Items

Financial

6 291

2 465

12 707

Costs of

209

89

3

costs

goods sold
Administrati

6 467

5 595

6 634

476

3 969

4 176

ve costs
Other costs

Source: Financial report in 2013, 2014, 2015
+ Financial costs: include the costs related to the financial issues of the
company. The costs in 2015 were about VND 12 million, increased strongly and
doubled compared to 2013 and six times compared to 2014. The reasons for this
increase are: bank’s interest rates has risen strongly; a lot of bad debts which have
not been recovered. The company have to mainly use bank loans in business
activities so that financial costs increased significantly.
+ Costs of goods sold: include advertising and sales promotion costs,
research and development costs for products. Besides, shipping and handling costs
are also included. The costs of goods sold in 2015 compared to 2013 decreased
sharply of VND 206 million, about 69 times, from VND 209 million in 2013 to
VND 3 million in 2015. There were decreased because the company did not spend
costs for activities of advertising, sales promotion,etc. Furthermore, customers are
mostly traditional ones and so intermediary costs for introducing products are also
reduced.

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+ Administrative costs: include the costs related to management and
administration of all the departments. The company also spent much money on
administrative costs. In the recent three years, there were no major changes of
administrative costs. The costs in 2015 rise up 1.2 times compared to 2014. The
reason was that the company spent much money on salaries, social insurance and
training staff.
+ Other costs: include many different costs derived from business and
production activities. From 2013 to 2015, these costs rise continuously of VND
3700 million, an increase of 8.7 times. Because in 2015 there were many
difficulties. The prices of electricity, water, petroleum, etc soared strongly. The
company also spent much money on renting office. In addition, poor warehouse
and low export turnover were also causes of other costs.
- Capital:
The fixed capital of MECANIMEX at the beginning of establishment is
VND 293 274 463.
The working capital is VND 8.474.196.748.
- The value of industrial production: in 2015, TừSơn fastener factory
achieved the targets of industrial production value and revenue. The planned
targets exceeded from 3% to 35%. Revenue of industrial production was about
VND 50.032 billion, up 3% beyond the target. However, the business and
production efficiency of the factory was not high due to high input costs and the
unchanged selling price.
In order to achieve results in revenue and profit in business and production,
the company has gained some achievements in:
- Signing many business contracts from the end of 2013 to create
momentum for production in 2015.


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- Good preparation, planning and implementation for the production of
signed contracts.
- Actively negotiating with a number of partners to provide input materials
(mainly steel). For this reason, the company bought a large number of steel for
production at reasonable price.
- Trying to maintain and develop import and export markets for traditional
commodities, goods sources and customers.
From the introduction and analysis on company’s performance, the author
presents two instruments that are used to identify existing problems facing the
company and gives some recommendations to those issues.
2. Business activity base on value chain

The value chain of MECANIMEX follows this:
EXPORT
SUPPLIER

PRODUCTION
DOMESTIC
MARKET
IMPORT

•

Supplier:

- The company has many suppliers or producers from import countries
(Korea, Germany, Japan, England, etc), TừSơn Fastener Factory.
•

Production :

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- Co-operate and set up joint-ventures with both domestic and foreign
companies to produce air-conditioners, washing machines, refrigerators, water
pumps, cotton buds, etc...
- Process all kind of commodities for domestic consumption and export
such as: iron and wooden furniture (tables, chairs...).
- TừSơn Fastener Factory has responsibility to produce goods to create
about 40% profits of the company.
•

Import:

- Import: All kind of machinery, steel, iron, plastic, materials, equipment
for such fields as: Industry, medicine, construction, transportation and some other
consumption goods such as: water pump, electric cooker, home appliance...from
the import countries such as Korea, Germany, Japan, England, etc.
- Import activities, distribution and retail products will generate profits
about 45%.
•

Domestic market:

- MECANIMEX has co-operated with many companies, agencies, stores to
buy company’s import goods in TràngThi, TràngTiền, HaiBàTrưng, ThanhXuân, etc.
•

Export:

- Export: Tin ingots, Wolframite and Chromate refined ore, all kinds of
machine tools, hand tools, veterinary tools, all kinds of locks, scales, scissors and
many other consumption mechanical products. Export products will gain 15%
profits for the company.
3. Business activities base on function
- Board of directors:
+ Director: Operates the company and has the exclusive right in organizing
management system and business networks. He has the right to issue directives


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that everyone in the company must strictly obey and is responsible for all business
activities.
+ Deputy directors: assist the director under the assignment and
authorization of the director. They have the right to inspect staff. In addition, they
are entitled to sign documents under their duties and are responsible for those
documents.
- The departments have close relations with each other and each one has its
own functions. With the simple structure, the company has the administrative and
sales departments with three affiliated departments, a branch, a representative
office and a subsidiary.
+ Administrative departments include finance and accounting department,
personnel- planning department and general affair department. Those departments
have the task of:
Monitoring all the policies and regulations of the company. Simultaneously,
they perform administrative work such as printing documents, stationery,
telephone network of the company.
Assisting the director in arranging and organizing labor force effectively.
Particularly, the finance and accounting department is responsible for
monitoring and managing proposed capital according to company’s strategies on

capital, collecting the accounting data to calculate profit and loss, revenues and
expenditures of the company, filling payment procedures between the company
with domestic as well as foreign partners.
- Sales departments include export-import department, domestic sales
department, trade promotion and investment department. The main tasks of sales
departments are:
Transacting and signing contracts with foreign partners.


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Filling the procedures of finding and researching goods sources from
the first steps to final steps.
Expanding the domestic as well as foreign markets.
Implementing some trading promotion activities such as: participating in
trade exhibitions, promoting, introducing industrial products and export-import
goods of MECANIMEX on domestic as well as international scope.
- Southern branch in HồChí Minh city: does business under the directives of
branch director and is responsible to the director in all business performance of the
branch.
- Representative offcice in HảiPhòng: performs all tasks of import and
export consignment at the HaiPhong port.
- Subsidiary – TừSơn fastener factory: manufactures mechanical products
according to standards: TCVN, ISO, HS such as bolts, screws, etc.
4. Depth analysis of the financing - accounting department
In terms of structure, the financing - accounting department of the company
include:
- Chief Accountant is the manager of the financing - accounting
department, is the person responsible for the financial, corporate accounting. Chief
Accountant functional help directors to command and organize the accounting
work, according to the company.

- Chief Accountant has two assistant deputy assistant accountant,
accountant sections deal also undertake specific accounting practices: a deputy
accountant can perform tasks related to professional billing as opening L /C and
imported goods, payment for goods and tracking other liabilities. A deputy
accounting remaining cost tracking and billing sales.


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- Including accountants in charge of tax accounting, Accounts Receivable,
Revenue consumption, aggregate accounting charge on the issue as part of salary,
fixed assets, funds, etc of the company.
Chart 2.1 MECANIMEX’s the financing - accounting operation
Chief Accountant

Assistant Chief Accountant

Chief Accountant
aggregating data
(salary,
fixed
assets, etc)

Consumption
and Tax
accountant

Data
processing by
a computer

- Organizational form of the company's accounting journal voucher forms.
- Implementation process carrying the arising economic operations is
performed on the computer. Accounting gathering and sorting the original
documents such as receipts, Voucher, enter, bills, invoices, notices Debit, Credit
notices, tax notices, etc. Then accounting enter documents into the computer. The
computer will automatically make the journal distribution, the last transfer period
to the financial statements as required, to the subsidiary ledger, General Ledger,
ledger accounts, reports on the debt and the press Advertising serve another
management company.
- Accounting year begin implementation from 01/01 and ending 31/12
annual.
- Currency used in the accounting records of the company is VND