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Financial and accounting management of businesses

  • Accounting tasks to be performed at the end of the financial year
  • Financial Management vs Accounting (Compare and choose the appropriate one)
  • Surviving after Covid-19: Financial management reshapes businesses for sustainable development
  • Guide to corporate financial management
  • Instructions on how to read and understand financial statements (for business managers)
  • Some new points Decree 102/2021/ND-CP on administrative sanctions in the field of accounting and auditing
  • Detailed instructions for applying for a foreign loan
  • Why do business people, business managers need to know accounting skills?
  • Role of Accounting & Finance in Business Management
  • The main role and function of the Financial Accountant in the business
  • Why is accounting information relevant to Business Decisions?
  • What is the purpose of the accounting department in a business?
  • What is a good business accounting system?
  • How to set up an accounting system for your business (4-step guide)
  • Ways for businesses to overcome the Covid-19 pandemic
  • How to distinguish “Unrealized Revenue” and “Prepaid Customers”
  • Internal or Professional accountants outsourced: How to decide?
  • Understanding the operating costs of the business
  • Corporate Financial Reporting System

Building a financial accounting system

  • 5 standard steps of an accounting cycle to know
  • What types of information systems are there in an enterprise?
  • The role of management information systems in decision making
  • Importance of warehousing & inventory control
  • How useful are management information systems in businesses?
  • Typical products of Accounting Information System
  • Role of Accounting & Finance in Business Management
  • How do Accounting and Marketing go together?
  • The main role and function of the Financial Accountant in the business
  • Why is accounting information relevant to Business Decisions?
  • What is the purpose of the accounting department in a business?
  • What is a good business accounting system?
  • How to set up an accounting system for your business (4-step guide)
  • The necessity of building processes
  • Science of enterprise accounting information systems

Financial and accounting regulations

  • Identify legal, valid and reasonable invoices and documents
  • Circular 88/2021/TT-BTC on accounting regime for business households and individuals
  • Decree 102/2021/ND-CP on penalties for administrative violations in the fields of taxation, invoices, accounting and auditing
  • Is the borrowed money recorded in the loan account or must it be paid correctly?
  • Sanctions for administrative violations on accounting and auditing
  • Decree 174/2016 / ND-CP guiding the Law on Accounting
  • Accounting Law 88/2015 / QH13
  • Accounting of exchange rates according to the Circular
  • Enterprises are required to audit
  • Deadline for submitting financial statements
  • Circular 48/2019/TT-BTC on setting up provisions for devaluation of inventories, loss of investments, bad debts and warranty of products, goods, services, construction works at the enterprise
  • Decree 165 / 2018 / ND-CP on electronic transactions in financial activities
  • Accounting regime for micro enterprises Circular 132/2018/TT-BTC
  • Decree 41/2018/ND-CP on penalties for administrative violations in the field of accounting and auditing
  • Accounting regime for small and medium enterprises according to Circular 133/2016 / TT-BTC
  • Circular 200/2014/TT-BTC on Corporate Accounting System
System of Vietnamese Accounting Standards
  • Vietnamese Public Accounting Standard No. 31 “Intangible assets” under Decision 1676/QD-BTC dated September 01, 9
  • Vietnam Public Accounting Standard No. 17 “Real Estate, Plant and Equipment” according to Decision 1676/QD-BTC dated September 01, 9
  • Vietnamese Public Accounting Standard No. 12 “Inventories” under Decision 1676/QD-BTC dated September 01, 9
  • Vietnamese Public Accounting Standard No. 02 “Cash Flow Statement” under Decision 1676/QD-BTC dated September 01, 9
  • Vietnamese Public Accounting Standard No. 01 “Presentation of financial statements” under Decision 1676/QD-BTC dated September 01, 9
  • Decision 1676/QD-BTC dated September 01, 9 announcing 2021 Vietnamese public accounting standards, phase 5

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The necessity of building processes

Category
  • What is build process?
  • Why is a process necessary?
  • What are the barriers to implementation?
  • What are the implications of processes?
  • How to set up?
  • How to use the process effectively?

Updated at 09/06/2022 - 03:37 pm

What is build process? #

A process in an enterprise is a collection of jobs and tasks performed in a fixed order, in order to transform inputs into outputs. Based on the functions and management goals, building processes in the enterprise can be divided into many large processes that aggregate with different small processes.

Why is a process necessary? #

Each individual has different knowledge and skills leading to different ways of working. The process helps the person performing the work know that in a business, they must perform the work steps, how and how to achieve the results? There will be no situation where the employee receives the boss's instructions without knowing what to do? Or the situation of doing it again and again but still not according to the boss's wishes.

For example: Administration - Human Resources Department has a recruitment process, HCNS staff will know what information must be included in the "List of candidates" for the Head of HR Department + Head of Department/Department to consider, Filter resumes, select qualified people to interview.

For work processes that need team work, the process helps members coordinate with each other in a consistent and correct order without having to wonder who does this? How?

For example, the purchasing process of the accounting department will help HCNS staff know and follow the correct procedures when purchasing assets for the Company, better coordinate with the accounting staff for payment.

The process also helps managers control the progress and quality of work done by employees

For example: Head of HCNS looks at the candidate evaluation sheet, with salary, allowance, start date of work, signed by relevant people, will know if HCNS staff drafted the contract for the employee is correct. or not?

What are the barriers to implementation? #

The managers themselves do not invest time to do the process, thinking that doing the process takes time, there is still a lot of work to do to make money. But this view itself is not long-term and they are not really aware of the effect of the process, as well as understand that it takes a little time, but they will be very comfortable later in management and control. employee work.

Given that the process is time consuming, complicated and cumbersome, exchange directly with each other for fast. Direct communication is a very good thing, but after discussing and agreeing, those points must be put on paper. Many times when we talk to each other three days later, we will forget what we said, or remember but not enough. In many cases, unnecessary arguments arise, something like "I don't mean that" or "Every day you say the same thing, I know how".

Process people do not fully understand in terms of business, the measure of an effective process or not is reflected in the people who follow it can execute smoothly, the process helps them do the job. achieve better quality.

The content of the existing documentation system is too sketchy. The documents do not accurately and sufficiently reflect the actual activities taking place in the enterprise. While the enterprise did not improve, review the document system after a long time of ineffective implementation.

Too few forms and records reflect employee activities, making it difficult to measure and evaluate work performance, and difficult to resolve disputes or violations. There is no management tool suitable for the business situation of enterprises.

What are the implications of processes? #

Only built once, but from then on, the business will go up forever

Without a process, you will do the same thing over and over again in a way that can be inefficient and the mind is so lazy by nature that it refuses to recognize mistakes in everyday tasks.

When building a process, your business minimizes risks during operation because the tasks / tasks have been clearly defined and standardized in order. Quickly create new steps and breakthroughs thanks to the old tasks that have been thoroughly optimized and solved.

Building a dynamic working spirit, smooth operation, increased productivity, the company's working environment becomes more professional.

Liberate the leader

When someone else can replace the management doing something as good as they do it or even better, it is a joy because now the management can do a different job, confront a new challenges, there will be no more miserable hours solving daily problems, the little mistakes that cost them time will forever disappear.

There is a process where the leadership has transferred all the quintessence, experience, and treatment options to new people and then they will automatically work and the leadership will be free to do other work. more important.

How to set up? #

  • Identify the needs and goals of the business;
  • Determine the scope of the process to be developed;
  • Learn how the business operates through discussions with relevant departments;
  • Collect information, evaluate the current system of the department that needs to develop the process;
  • Collect information, evaluate the staff who will carry out the process;
  • Collect information, evaluate existing software systems and management tools of the enterprise;
  • Synthesize information, analyze, evaluate, outline proposals to businesses.
  • Set up cycles, interpretations, forms according to business needs and advise on the appropriateness of software and management tools for businesses, as well as advise on the appropriateness of qualified personnel. relate to.
  • The enterprise leadership board approves the processes, approves personnel organization plans, approves plans to use management software and tools.
  • Implement the cycles into practice and guide the enterprise's human resources team to do so.

How to use the process effectively? #

A process that is established and agreed to be implemented is a necessity for employees' operations and is a control tool for all levels of management. The human factor and management tools play an important role in ensuring the effectiveness of the process.

The process is good or not is judged by the degree of application in practice and it must improve the quality of the person doing the work.

Regularly collate and check the process, update the process to match the current business situation. Can use the expert service outside to check the risk assessment from a particular process.

The established process does not mean completely stamping, in some cases it must be applied flexibly, avoiding paperwork.

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Updated on 09/06/2022
Science of enterprise accounting information systemsHow to set up an accounting system for your business (4-step guide)

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Category
  • What is build process?
  • Why is a process necessary?
  • What are the barriers to implementation?
  • What are the implications of processes?
  • How to set up?
  • How to use the process effectively?

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