76 completing accounting for salary and deductions from salaries at welding technology and equipment company

Academy of Finance

1

Graduation Thesis

DECLARATION
I, Lê Thanh Thủy, hereby declare that this thesis and the study presented in it
are my own and have been generated by me as the result of my own original
research.
Thesis:“Completing accounting for salary and deductions from salaries at
Welding Technology and Equipment Company”
Hanoi, May 21, 2018
Student

Lê Thanh Thủy

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ABSTRACT
This research involves the process of accounting for salary and deduction from
salary of enterprises in Vietnam in the context that global trade has obtained

extremely fast growth. The purpose of the study is to contribute to the fundamental
theory of building accounting for salary and paying salary processes, which can
help businesses to better process payroll accounting. This has been done by
examining the relevant literature and scenarios at WELDTEC…,in the period of
2015 - 2017. Questionnaires and interviews were also conducted for the collection
of data and viewpoints of staff. The first phase of the study involves reviewing
literature which relates to accounting for salary and deduction from salary. The
second phase, upon the examination of figures and documents, aims to reflect the
process of accounting salary and points out the company’s advantages and
disadvantages. The final phase involves solutions and recommendations to improve
the current situation of WELDTEC. Through analysis, it can be seen that ineffective
payroll and payroll operations at WELDTEC are due to a number of reasons,
including the need for timekeeping procedures. Therefore, the solutions and
directions in the study are expected to improve WELDTEC's current accounting
status.

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ACKNOWLEDGEMENTS
Firstly, I am deeply indebted to my supervisor MBA. Pham Phuong Oanh
whose help, stimulation suggestions and encouragement helped me all the time of

research for and writing of this thesis
I also want to thank WELDTEC co., ltd for giving me permission to
commence this thesis in the first instance, to do the necessary research work and to
use departmental data.
I have furthermore to thank the General Manager as well as all seniors at
WELDTEC co., ltd who gave and confirmed this permission and encouraged me to
go ahead with my thesis.
My friends from Foreign Language Faculty also supported me in my thesis. I
would like to thank them for all their help, support, interest and valuable hints.
Especially, I would like to give my special thanks to my family whose patient
love enables me to complete this work.
Finally, because of limitation of time and knowledge, mistakes are
unavoidable, so I wish to have more opportunities, I also wish to receive more
contribution and suggestions to make my thesis better.

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LIST OF ABBREVIATIONS
Abbreviations
Acc
De

Cr
VAT
WELDTEC

Full Phrase
Account
Debit
Credit
Value Added Tax
Welding
Technology
and
Company

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LIST OF FIGURES AND TABLES
Table 2.1.2. Situation of turnover, cost and profit of the company...........................18
Table 2.1.3: Structure and management apparatus of WELDTEC co., ltd...............21

Table 2.2.2.1.1. Employee time sheet.......................................................................24
Table 2.2.2.1.2. Payment sheet................................................................................26
Table 2.2.2.2. Payable to employees subsidiary ledger............................................30

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TABLE OF CONTENTS
DECLARATION........................................................................................................i
ABSTRACT.............................................................................................................. ii
ACKNOWLEDGEMENTS.....................................................................................iii
LIST OF ABBREVIATIONS…………………………..……………………....…..iv
LIST OF FIGURES AND TABLES..........................................................................v
PART I: INTRODUCTION.......................................................................................1
1.Rationale.................................................................................................................1
2. Aim of the study....................................................................................................1
3. Scope of the study..................................................................................................2
4. Methodology.......................................................................................................... 2
5. Organization of the study.......................................................................................2
CHAPTER 1: GENERAL THEORY ON ACCOUNTING FOR SALARY AND
DEDUCTIONS FROM EMPLOYEES’ SALARIES............................................3
1.1.Basic features of accounting for salary and deductions from employee’s salary. 3

1.1.1. Concept on salary............................................................................................3
1.1.2. Deductions from employees’ salaries...............................................................4
1.1.3. Salary funds and salary regulation..................................................................8
1.2.Content of accounting for salary and deductions from salary............................11
1.2.1. Accounting for salary.....................................................................................11
CHAPTER 2: THE REALITY OF ACCOUNTING FOR SALARY AND
DEDUCTIONS FROM SALARIES IN WELDTEC..........................................17
2.1.An overview about WELDTEC.........................................................................17
2.1.1.The information and development of the company..........................................17
2.2.The main contents of accounting for salary and deductions from salary in
WELDTEC..............................................................................................................23
2.2.1.Types of paying salaries in the company.........................................................23
2.2.2. Contents of accounting for salry...................................................................24
2.2.3. Contents of deductions from employees’ salaries in the company..................38

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CHAPTER 3: SOME CONSTRUCTIVE IDEAS TO BETTER THE
ACCOUNTING FOR PAYROLL AND DEDUCTIONS FROM EMPLOYEES’
SALARY IN WELDTEC......................................................................................44
3.1.Comments on accounting for salary and deductions from salary in WELDTEC......44

3.1.1.General comments on the accounting work at the Company:.........................44
3.1.2.Comments on the accounting for salary and salary deductions at the
Company. .............................................................................................................45
3.2.Constructive ideas to make good accounting’s for salary and deductions from
salary ...................................................................................................................48
3.2.1.The need to improve the accounting of salary and salary deductions.............48
3.2.2.Constructive ideas to make good accounting’s shortcomings for salary and
deductions from salaries..........................................................................................49
CONCLUSION.......................................................................................................53

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PART I: INTRODUCTION
1. Rationale
In any society, all of enterprises have to focus on improving quality of auditing
the accounts. Accounting information must reach the truth and accuracy, they are
the basic of foundation that the enterprise relys on in order to make the best
decisions serve to the demands from the market, produces, properties of practices
business activities in order to get the maximum profit in return. This takes to the
result of improving and raising the labor’s living standard, one of the most
important factors in doing business activities.

Following the modern structure of the Government State, in the years gone by,
Viet Nam enterprises consider accounting for salary and salary deductions as one of
the most important parts that can not be omitted in their auditing the accounts task.
This not only shows the effectiveness of the inputs but shows the fair of the social
economic, ensures following the salary policy of the Government State, shows the
benefit between enterprises and their labor, takes part in supplying information
accurately and adequately, helps the enterprises in managing the manufacturing
plan.
During my intership at Welding Technology and Equipment Company, I found
that the company has been in problems with its salary. Beside the strengths, the
company still exists some weaknesses that needs to innovate in order to adapt to the
acquire of the current business activities such as managing and using labor cost,
applying microcomputer system,..etc..
From the analysis of urgency in both theory and practice in the company, I
have decided to choose the graduation thesis’ title: “Completing accounting for
salary and deductions from salaries at Welding Technology and Equipment
Company”.
2. Aim of the study
My study has three objectives:

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First, it is to contribute to the background theory of accounting for salary and
deduction from salary, which is done by pointing out definitions, accounts used and
accounting entries for each account related to salary in an administrative unit.
Second, it is to illustrate how an administrative unit does accounting for
salary and deductions from salary by taking scenario at Welding Technology and
Equipment Company as a case for study.
Third, it is to review Welding Technology and Equipment Company’s
achievements and limitations and to suggest possible solutions to improve the
accounting performance for salary and deduction from salary in the future.
3. Scope of the study
The study was conducted in the fiscal year from 01/01/2015 to 31/12/2015 and
from 01/01/2016 to 31/12/2016, which focusing on accounting for salary at
WELDTEC. The company is located at Tran Thai Tong stress, Dich Vong Hau
ward, Cau Giay district, Ha Noi.
4. Methodology
The study was carried out by using many research methods and instruments of
which interview and questionnaire were used as main instruments for data
collection.
The

questionnaire

recommendations

from

was

designed

to

collect

staffs

in Administrative

opinion,

ideas

and

Department, Accounting

Department. The questions in the questionnaire focused on the main subject of the
study
In terms of the interview, the interviewees are asked to answer questions and
give their own perspectives about paying salary.
Thus, all the collected information and statistics and opinion are objective,
relevant, central and useful for the study.
5. Organization of the study
Except for the introduction, conclusion, references and documents attached,
the main content is divided into three chapters as follow:
Chapter 1: Literature review- Theory on accounting for salary and deduction
from salary

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Chapter 2: The study- The reality of accounting for salary and deductions from
salary in WELDTEC Co., Ltd
Chapter 3: Recommendations- Some constructive ideas to complete the
accounting for salary and deduction from salary in WELDTEC Co., Lt

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PART II: MAIN CONTENT
CHAPTER 1: GENERAL THEORY ON ACCOUNTING FOR SALARY AND
DEDUCTIONS FROM EMPLOYEES’ SALARIES
1.1.

Basic features of accounting for salary and deductions from
employee’s salary

1.1.1. Concept on salary
1.1.1.1. Definition of accounting for salary
Salary is a fixed amount of money or compensation paid to an employee by an
employer in return for work performed. Salary is paid, most frequently, in a biweekly paycheck to an exempt or professional employee. In most years, an
employee’s salary is paid in 26 even paychecks over the course of the year. An
employee who is paid a salary is expected to complete a whole job in return for the
salary. This is different from a non-exempt employee who is paid an hourly rate or
by the piece produced. This employee is generally eligible to collect overtime. The
salaried employee or employee who is paid by salary does not track hours worked
and is not paid for overtime. (Some public sector, often union represented,
employees expect to account for hours and collect compensatory time off. This is
not the norm in the private sector. Because of Fair Labor Standards Act (FLSA)
rules about overtime payment, employers are required to closely track the hours and
partial hours worked by non-exempt or hourly employees. Salary is determined by
market pay rates for people doing similar work in similar industries in the same
region. Salary is also determined by the pay rates and salary ranges established by
an individual employer. Salary is also affected by the number of people available
to perform the specific job in the employer’s employment locale. Many companies
participate in salary market surveys to create a trustworthy resource for salary
research. More and more salary research is occurring online using salary
calculators.

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1.1.1.2. The features and the useful of accounting for salary
Salary is the income of every worker and it is very important, in addition to
ensuring the reproduction of labor, salary also help the workers love the job,
enthusiastic to work. All costs in the family as well as society derived from the
salary from their labor force. So, salary is an indispensable income for workers.
Salary maintenance promotes and reproduced labor. In every business that wants to
survive, maintain, or develop, it is a matter of concern. Especially in the current
market economy, if any enterprise has a reasonable salary system, it will attract
good quality human resources.
1.1.2. Deductions from employees’ salaries
Along with salary, wage, allowances counted for enterprise’s production
costs are:
1.1.2.1. Social insurance fund
This fund established as a source of capital, aids to the staff in these situations:
ill, pregnancy, over the age in work, die, on-the-job accident, occupational disease,
lose job, get in risk, lose strength, retire.
Social insurance come along with labors life, it is objective, indispensable, it
does not occur steadily with the time. Social insurance’s nature is social, economic
as well as service. On April 14th, 2017, government issued the Decree
No.47/2017/NĐ-CP regulating the rates of social insurance enterprises’ contribution
paid in the Insurance Fund for labor accidents and occupational sickness. This will
be a change affecting companies’ internal human resources management in the
future. According, the employers only have to pay 0.5% (current regulation is 1%)

of their salary fund which is based to calculate the social insurance for labor
accident and occupational sickness fund of employees. Therefore, the total premium

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Graduation Thesis

will be reduced to 32% from 01/03/2017, while the current regulation is 32.5%.
This decree will be effective from June 01st, 2017. Social premium is reduced but
the base salary is expected to rise to VND 1.300.000 and insurance claims (on total
wages and allowances), whereby, will be increased in the future. In order to
property comply with the state regulations, manage control monthly payrolls,
customers should recalculate the payroll system, salary structure, allowances and
the labor contract for proper compliance and cost optimization.
Social insurance fund is managed by the Ministry of Labor, War Invalids and
Social Affairs.
Monthly, at the enterprise, pays for the labor who get ill, pregnancy,… bases
on that to make regular and legal vouchers (accounting clerk makes social insurance
voucher pay for labor follow the form No.03-LTDL, accounting voucher
regulation). At the end of the month of the quarter the company must be to strike a
balance to the organization manages social insurance fund.
1.1.2.2. Health insurance fund
Health insurance fund is the medical aid to the person who pay in advance for

it, help them with one part of the costs for hospital fees, medical examination,
medicines,... Health insurance fund forwards to establish a public health care
network. Only person who take part in this fund will receive health insurance.
According to the current rule of the financial system health insurance is deducted
3% on the basic payroll fund, in there, 2% is counted for production cost, the rest
1% is deducted from labor’s income .
Health insurance fund is delivered to the authorized association under the form
of buying health insurance in order to serve and care staff’s health such as:
medicine examination, hospital fees... during the time they get ill, give birth,…
1.1.2.3. Trade union fee

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Trade union fee is spent for union activities. This fund is established with a
specific rate count on the real payroll fund appear in particular month and counted
for production cost. Trade union fee is deducted 2% in there, one part is sent to the
top management of company, the rest is remained to spend for enterprise’s activities
Deductions from salaries as social insurance, health insurance, trade union
fees along with employees payable form labor cost in the overheads factory costs.
Managing calculation, deduction, spending and using of these funds not only
important to the overheads factory costs management but ensures right for the labor

of the company as well.

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Type of
insurance

8

Graduation Thesis

Occupationa
Health Unemployme
l Accidents
Social
Insuranc nt Insurance
Insurance and Diseases
e
Insurance

Trade Union
Funding
and Fees

Employ

17

0.5

3

1

2

er (%)
Employ

8

None

1.5

1

1

ee (%)
Applica Vietnames Vietnamese

Employe Employees

Trade

bility

es under under

funding must be

employees under

employm employment

paid

under

ent

e

employee
employment

employme contracts

contracts the term of 3 trade

with the term with the months

contracts

of 1 month term of 3 more.

the or more.

term of at
least

by

the

contracts with employers to the

nt
with

Union

union

or authority
regardless

of

months

whether or not

or more;

such

employers

3

have their own

months (at

grass-roots trade

least

unions

1

month
from

Trade Union fee
1

must be paid by

January

employees being

2018);

trade

union

members (to the
grass-roots trade
unions)

(Table 1.1.2. Types of insurances)

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1.1.3. Salary funds and salary regulation
1.1.3.1. Salary funds
Salary fund is all amount of money the company has to pay for its labor, it is
managed and used directly by the company according to the labor quantity and the
labor quality, it includes these items:




Salary by hour
Salary by products



Salary pay for the labor gets off because of objective causes, appointed another
post, on leave, go on recruit follow the regular system





Regular salary
Allowances for over-time working, extra-shift, work at night, …
Function allowances
Income of the employees includes salary and other payable (regularly called

salary and bonus). Salary and bonus in the company at present follow the Decree
No.118 dated on September 15th, 2005 and circular letter on the same day signed by
Prime minister about correct social insurance policy. Follow that, the Government
State manages state-owned enterprise’s salary fund by defining by regulations limit
of paying salary, regularly called salary unit price
There are three types of defining salary unit price as follow:


Salary unit price calculated bases on unit of product (or convert product),
defined bases on factors such as coefficient and salary grade limit, product
norm, time norm, work norm of the clerk and allowances which follow the



rule of Government State.
Salary unit price calculated bases on profit in plan. This method is applied in
the multiple manufacturing company with detail labor norm, therefore it is
difficult to define employees payable in the total costs, the method is
calculated as follow:
Salary unit price=



Salary unit price calculated turnover:

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Salary unit price=
1.1.3.2. Paying salary method
1.1.3.2.1. Salary by hours
This is the type of paying salary based upon on the working hours of the labor,
hierarchy (title) and salary grade (salary coefficient). This form mainly applied with

indirect labor, stable job or with direct labor without product norm.
 Monthly salary = The real days at work in a week * Daily wage
 Weekly salary =
 Daily wage =
Daily wage is the foundation to calculate social insurance, subsidy to pay the
employees or on the meeting days, or the days they go on training
 Hour salary =
Hour salary is the foundation to calculate subsidy for extra- work
 Simple hour wage= The real time at work * unit price
Hour salary with bonus included
Substantially, this is the combination between Simple hour salary form with
frequently bonus form the salary fund. The amount of bonus depends on the amount
of finished work. Therefore, this type is more motivate, encourages employees than
other ones. Though, this type not yet show the fact of the relation between
employee ability and employee effectiveness.
1.1.3.2.2. Salary by product
Employees are paid bases on quantity, quality of their products, amount of
works they have done and bases on the unit price calculated per work unit. Paying
salary by products can be practiced in difference ways
 Paying salary by products directly to individual: this type is regularly
applied to self- contained labor, direct- working worker with work norm which can
check and take over.
Salary payable= Unit price* Finished works
Unit price=
Or unit price= salary by grade * amount of product

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 Salary payable for indirect employees: this type is applied to indirect labor
whose work have big effect on direct labor’s work, so that, to calculate salary it is
necessary lying on quality, capacity, work result of the direct labor.
Salary= salary unit price of the sub-labor * finished work of chief-worker
 Salary by product of work-group: follows this type the company pays to the
individual employee by group (unit, mill,…) then, salary is distributed to each of
the worker in the unit or group bases on basic salary and the real time each one at
work. The formula to calculate as follow:
Li = *TiKi
In there:
-

Li: salary payable to worker i
Lt: salary payable to the unit
Ti: real time at work of the worker i
Ki: is the work grade of the worker i
 Salary by piece-work: Salary payable to the group or worker is promised for

a worker norm, product norm under job-work unit price. If worker work in a group
his salary will be paid by the mode salary payable to group.
 Salary by product with bonus included: Beside getting salary pay by direct
product, the labor also gets bonus for raise productiveness, save material,
higher product quality.

Lth = L+
In there:
-

Lth: salary by product with bonus included
L: salary by direct product
M: percent of salary exceed the set standard
H: percent of product exceed the set standard

 Salary by progressive product: with this type, the labor is paid depends on
the amount of direct products they have done added with the percent of
progressive product which based on the rate of exceeding the set standard
1.1.3.2.3. Some other types of salary
Beside the above modes, depends on the scale, conditions and features of the
business organization then enterprise can apply these type of paying salary:

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Graduation Thesis

Salary pay for the final result

Salary by salary group fund
Salary pay by amplitude of set by standard

1.2.

Content of accounting for salary and deductions from salary

1.2.1. Accounting for salary
1.2.1.1. Vouchers in use
Form 01- LDTL- Time sheet
Form 02- LDTL- Salary
Form 03- LDTL- Leaves paid by social insurance
Form 04- LDTL- Social insurance payment voucher
Form 05- LDTL- Bonuses payment voucher
Form 06- LDTL- Certification of performance
Form 07- LDTL- Overtime record
Form 08- LDTL- Piece-work engagement contract
Form 09- LDTL- Accident investigation report
1.2.1.2. Accounts in use
ACCOUNT 334- PAYABLBE TO EMPLOYEES
This account records salaries, wages, social insurance and other payables that
are due to the employee, as well as the payment of these liabilities.
1.2.1.3. Methods of accounting for salary
Debit:
- Record salaries, wages, bonuses, social insurance and other amounts which
have been paid or advanced to the employees.
- To record deductions of salaries and wages from the employees’ salary.
Credit:
- To record amounts payable to employees such as salaries, wages, bonus, and
social insurance.

Credit balance:
- Shows amount payable to employees such as salaries, wages, bonuses, and
other payable to employees.

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- This account can have a debit balance which show that the amount paid to
employees was greater than what was payable. This account should be kept tract of
under two headings: salaries payable and other payables.
Major transactions:
1.

To record salaries, wages, and other allowances which are payable to

employes
Dr. 241- Construction in progress
Dr. 622- Direct labor cost
Dr. 627- Factory overhead costs (6271)
Dr. 641- Selling expenses (6411)

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Dr. 642- General and administration expenses (6421)
Cr. 334- Payable to employees
2.

To record bonuses payable to employees

Dr. 431- Bonus and welfare fund
Cr. 334- Payable to employee
3.

To record social insurance which must be paid to the employees such as sick

leave, pregnancy leave, etc…
Dr. 338- Other payable
Cr. 334- Payable to employees
4.

To record annual leave which must be paid to the employees

Dr. 627, 641,642 or

Dr. 335- Accrual expenses payable
Cr. 334- Payable to employees
5.

To record deductions from salaries and employees income such as advances,

health insurance, indemnity etc,,
Dr. 334- Payable to employees
Cr. 141- Advances, or
Cr. 338- Other payable
Cr. 138- Other receivable
6.

To record the personal income taxes which must be paid to the state

Dr. 334- Payable to employees
Cr. 333- Taxes and other payable to the state budget
7.

To record the payment to the employees

Dr. 334- Payable to employees
Cr. 111- Cash on hand
Cr. 112- Cash in bank
1.2.2. Contents of salary deductions accounting
1.2.2.1. Vouchers in use
Form 01- LDTL- Time-sheet

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Form 02- LDTL- Payroll
Form 03- LDTL- Social insurance leave slip
Form 04- LDTL- Social insurance payment sheet
Form 05- LDTL- Bonus payment sheet
Form 06- LDTL- Confirmation of finished products or work
Form 07- LDTL- Over time record
Form 08- LDTL- Lump-sum work contract
Form 09- LDTL- Record of working accident examination
1.2.2.2. Account in use
338- OTHER PAYABLE
This account is used to record the changes in other payable (which are not
included in account 331 to 336)
Content and scope of this account involves the following major transactions:
1. The value of asset surplus for which the reason has not been determined and
the company is awaiting the authorities decision.
2. The value of asset surplus payable to individuals or entities (internal and
external) according to the authorities decision.
3. The recognition and payment for social insurance, health insurance and trade
union fees.
4. Withholdings from employees’ salaries based on count’s decision (allowance
for children when divorced, court fees, compensation, etc..)

5. Amount payable as a result of holding deposites of another entity.
6. Dividends payable to joint venture partners
7. Amount payable for temporary borrowing of materials and/ or money.
8. Amount received form consignors or their agents who are involved in the
import, export business in order to pay export tax, import tax, duties, turnover tax, etc.
9. Other amount payables or receivables.
1.2.2.3. Method of accounting for salary deductions
Debit
-

Amount of social insurance which has been paid to an employee
Trade union fees which have been paid by the entity
Social insurance, health insurance, and trade union fees which have been
remitted to the authorities.

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Credit
-

Recognize social insurance, health insurance and trade union fees as business

-

expenses of the current period
Health insurance withheld from employees’ salary.
Injection from funds to cover over payment of social insurance and trade
fees.

Credit balance
-

Amounts of social insurance, health insurance and trade union fees that are
payable
This account may have a debit balance when the amount paid to the
authorities exceeds the obligation of the company have overpaid social
insurance and trade union feed and the over payment has not been
reimbursed.

Accounts for salary deductions is composed as follow:
-

Account 3382- Trade insurance payable: to record recognition and payment

-

for trade union fees.
Account 3383- Social insurance payable: to record recognition and payment

-

for social insurance.
Account 3384- Health insurance payable: to record recognition and payment
for health insurance according to regulations.

Major transaction:
-

Monthly withholding of social insurance, health insurance and trade union

fee.
Dr.241- Construction in progress
Dr.622- Direct labor costs
Dr. 627- General and administration expenses
Cr.338- Other payable (3382- Trade union fees, 3383- social insurance,
3384- health insurance).
- Calculate health insurance deducted from employees’ salaries.
Dr.334- Payable to employees
Cr.338- Other payable (3384)
- Submit social insurance, health insurance and trade union fees to authorities
Dr.338- Other payable
Cr.111- Cash on hand
Cr.112- Cash in bank

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- Calculate social insurance payable to employees
Dr.338- Other payable (3382, 3383)
Cr.334-Payable to employees
- To record spending out of the company’s social insurance and trade union
fund
Dr.338- Other payable (3382, 3383)
Cr.111- Cash on hand
Cr.112- Cash in bank
- To record a refund due to excessive payments made for social insurance and
trade union fund which have been returned.
Dr.111- Cash on hand
Dr.112-Cash in bank
Cr.338- Other payable (3382,3383)

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CQ52/51.05


Academy of Finance

18

Graduation Thesis

CHAPTER 2: THE REALITY OF ACCOUNTING FOR SALARY AND

DEDUCTIONS FROM SALARIES IN WELDTEC
2.1.

An overview about WELDTEC

2.1.1. The information and development of the company
 Name: Welding Technology & equipment company
 Abbreviation: WELDTEC CO., LTD.
 Email:
 Phone: (+84).462 690 458/59
 Fax: (+84)4.62690457
 Website: http:/www.weldtec.com.vn/
 Address: Room 108, D5C building, Tran Thai Tong street, Cau Giay district,
Hanoi
Weldtec co., ltd was established in April 28, 2014 with the slogan “Best of
the Best”. Welding Technology and Equipment Joint Stock Company (WELDTEC)
is a company specialized in providing technology, equipment, materials and
technical services specialized in welding, cutting and mechanical processing. With
about 15% market share in this field in Vietnam, the leading company in welding
industry in Vietnam, top 5 in machine tools and tools.
2.1.2. Business fields and missions of the company
WELDTEC’s business activity goals in 2014-2015 are showed through
figures on the table below:

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CQ52/51.05