ACCOUNTING FOR RAW MATERIALS AND TOOLS IN MTQ

HAI PHONG COMPANY LIMITED

Assoc. Prof. Dr. Nguyen Thi Hue

Name : Doan Thi Thu
Faculty of International Education
University of Transport and Communications

Hanoi, 2022
 CHAPTER 1: GENERAL THEORY ON ORGANIZATION OF MATERIALS AND TOOLS IN

MANUFACTURING ENTERPRISES

 CHAPTER 2: ACCOUNTING STATUS OF MATERIALS AND TOOLS AT HAI PHONG

COMPANY LIMITED

 CHAPTER 3: SOLUTIONS TO COMPLETE ACCOUNTING OF RAW MATERIALS AND

INSTRUMENTS TOOLS AT MTQ HAI PHONG COMPANY LIMITED 2

CHAPTER 1: GENERAL THEORY ON ORGANIZATIONAL ORGANIZATION OF MATERIALS AND
TOOLS IN MANUFACTURING ENTERPRISES

1.1. Concepts and features

Materials Tools

Concepts - Labor objects purchased from outside or processed - The assets of the enterprise or the labor
by themselves for production and business purposes of materials involved in production and business
the enterprise activities

Characteristics - participate in each production and business cycle - participate in many production and business
- change completely physical form cycles
- When using raw materials for production, it will - keeping their physical form
create additional use values - wears out during use, just like fixed assets.

Classification - Sort by origin ( outside purchasing; homemade...) -Type instrument tools allocates 100% (1 time)
- purpose and content of materials divided into - Type of multi-allocation instrument tools
(management department.......)
- use of materials( fuel; main raw materials.....)
 1.2. Accounting for raw materials and tools

Detailed accounting General accounting

- Parallel card method - Method of regular declaration

- Rotational reconciliation book method

- Periodic inventory method
- Balance book method
 1.3. Pricing method

IMPORTED EXPORTED

- Raw materials purchased from outside - FIFO ( first in first out)

- Self-made materials - Specific Identification Method

- Raw materials for joint venture capital contribution - Average Cost

1.4 : General Accounting

TABLE1: Raw materials Table2: Tools

CHAPTER 2: ACCOUNTING STATUS OF MATERIALS AND TOOLS AT HAI PHONG COMPANY
LIMITED

2.1 General overview of Hai Phong Co., Ltd

2.2 The process of circulating accounting vouchers about

materials and tools
General overview

 Company name written in Vietnamese: Hai Phong Co., Ltd

 Head office address: Lac Nhue, Thuy Hoa Commune, Yen Phong District, Bac Ninh Province,

Vietnam

 Line of business: Wholesale of fabrics, garments, shoes.....

 Business code: 0107848360

Business organization chart of the enterprise
The organizational structure of the enterprise's management

D
 General accounting policies

According to the circular 133/2016/TT-BTC issued on August 26, 2016

Fiscal year from 01/01/N to 31/12/year

Currency used in accounting: Vietnam Dong

Inventory accounting method:

+ Principle of inventory recognition: Original cost

+ Method of calculating the value of ending inventory: Average of the whole period

+ Inventory accounting method: Regular declaration

VAT calculation method:According to the deduction method.

Calculate depreciation according to:Straight line method of depreciation.

 2.2.1 Procedures for warehousing
Figure 2.1: Request for purchase of supplies and goods No. 000554 Figure 2.2: Invoice number 0000965
Figure 2.3: warehouse receipt of invoice number 0000965
 2.2.2 The delivery note

Figure 2.4: Request for export of material Figure 2.5: Ex-warehousing note No. 98XK00033
Table 2.1 Storage capacity Steel plate 1.2 mm
 Table 2.2 Details sheet Steel plate 1.2 mm

SỔ CHI TIẾT VẬT TƯ HÀNG HÓA

Kho: Kho vật liệu; Mặt hàng: Thép tấm 1.2 ly; Tháng 6 năm 2021
Ngày Ngày Nhập Xuất Tồn
Số
Tên kho Tên hàng hạch chứng
chứng từ
Diễn giải ĐVT Đơn giá Số
Giá trị Số lượng Giá trị Số lượng Giá trị
toán từ lượng
Mua hàng của
CÔNG TY TNHH
10/06/2 10/06/ 19NK00
Kho vật liệu Thép tấm 1.2 ly
021 2021 111
KIM KHÍ TOÀN kg 15.004,00 389,00 5.836.556 389,00 5.836.556
KHOẢN theo hóa
đơn 0000690

10/06/2 10/06/ 98XK00 Xuất kho VLSX

Kho vật liệu Thép tấm 1.2 ly
021 2021 033 TP-1906-03
kg 15.004,00 95,00 1.425.380 294,00 4.411.176

12/06/2 12/06/ 96XK00 Xuất kho VLSX

Kho vật liệu Thép tấm 1.2 ly
021 2021 033 TP-1906-01
kg 15.004,00 178,00 2.670.712 116,00 1.740.464
12/06/2 12/06/ 109XK0 Xuất kho VLSX
Kho vật liệu Thép tấm 1.2 ly
021 2021 0033 VC-T6-01
kg 15.004,00 116,00 1.740.464
Cộng nhóm: Thép tấm 1.2 ly 389,00 5.836.556 389,00 5.836.556
Cộng nhóm: KHO VL 389,00 5.836.556 389,00 5.836.556
Tổng cộng 389,00 5.836.556 389,00 5.836.556
0
Ngày ..... tháng ..... năm .........
Người lập biểu Kế toán trưởng Giám đốc
(Ký, họ tên) (Ký, họ tên) (Ký, họ tên, đóng dấu)
 Table 2.3 Summary book of inventory

HAI PHONG COMPANY LIMITED

Lac Nhue, Thuy Hoa Commune, Yen Phong District, Bac Ninh Province, Vietnam

SUMMARY OF STOCK
Warehouse: Material warehouse; June 2021
Beginning Import Export End of term
Product name Unit
Amount Value Amount Value Amount Value Amount Value

sus 201 stainless steel box tube kg 26.22 989,210 163.10 6.253,140 189.32 7,242,350

sus 304 stainless steel box tube kg 40.93 2,321,771 47.50 2,739,544 88.43 5,061,315

Stainless steel plate sus 201 kg 207.60 8,224,562 484.60 19,803,906 475.00 19,233,634 217.20 8,794.834

Stainless steel plate sus 304 kg 311.50 18,106,901 307.30 16,866,898 598.80 33,843,423 20.00 1,130,376

sus 304 stainless steel sanding

kg 8.70 522,000 8.70 522,000
plate

Steel box 30*60*6m kg 98.00 1,615.432 98.00 1,615.432

Steel box 40*40*6m kg 62.00 1,025,480 62.00 1,025,480

Steel box 40*80*6m kg 73.30 1,210,036 73.30 1,210,036

Steel box 50*50*6m kg 23.00 380.006 23.00 380.006

Steel plate 1.0 cup kg 84.70 1,269,992 84.70 1,269,992

1.2 cup steel plate kg 389.00 5,836,556 389.00 5,836,556

Steel plate 1.5 cup kg 627.40 9,412.782 627.40 9,412.782

Steel plate 2.0 cup kg 338.00 5,072,704 303.00 4,547,424 35.00 525,28

Steel plate 2.2 cup kg 99.20 1,489,091 99.20 1,489,091

2.9ly . steel plate kg 288.70 4,330,789 58.00 870.058 230.70 3,460,731

7,712,20 173,265,943 7,752,08

TOTAL 1,532,28 132,779,031 225,433,78 1,492,40 80,611,266
Lac Nhue, Thuy Hoa Commune, Yen Phong District, Bac Ninh Province, Vietnam MTQ HAI PHONG Company Limited

PUBLIC DIARY
June 2021

Recipro
Number of cal The debt
Accounting date Day vouchers Explain Account Generate Yes
vouchers accoun incurred
t

… … .. … … … … ….

Purchase of goods from NAM PHAT STEEL TRADING CO.,

03/06/2021 03/06/2021 19NK00105 152 331 45,956,670
LTD according to invoice 0000965 VND

Purchase of goods from NAM PHAT STEEL TRADING CO.,

03/06/2021 03/06/2021 19NK00105 331 152 45,956,670
LTD according to invoice 0000965 VND

Purchase of goods from NAM PHAT STEEL TRADING CO.,

03/06/2021 03/06/2021 19NK00105 1331 331 4.595.667
LTD according to invoice 0000965 VND

Purchase of goods from NAM PHAT STEEL TRADING CO.,

03/06/2021 03/06/2021 19NK00105 331 1331 4.595.667
LTD according to invoice 0000965 VND

10/06/2021 10/06/2021 100XK00033 Export VLSX MHA-T6-01 154 152 9,075,466

10/06/2021 10/06/2021 100XK00033 Export VLSX MHA-T6-01 152 154 9,075,466

10/06/2021 10/06/2021 101XK00033 Export VLSX BK-T6-01 154 152 1,156.707

10/06/2021 10/06/2021 101XK00033 Export VLSX BK-T6-01 152 154 1,156.707

Purchase goods from TOAN KIM KIM CO., LTD according to invoice
10/06/2021 10/06/2021 19NK00111 152 331 55.030,208
0000690 VND

Purchase goods from TOAN KIM KIM CO., LTD according to invoice 55.030,208
10/06/2021 10/06/2021 19NK00111 331 152
0000690 VND

Purchase goods from TOAN KIM KIM CO., LTD according to invoice
10/06/2021 10/06/2021 19NK00111 1331 331 5,503,021
0000690 VND

Purchase goods from TOAN KIM KIM CO., LTD according to invoice
10/06/2021 10/06/2021 19NK00111 331 1331 5,503,021
0000690 VND

10/06/2021 10/06/2021 98XK00033 Export VLSX TP-1906-03 154 152 6,625.696

10/06/2021 10/06/2021 98XK00033 Export VLSX TP-1906-03 152 154 6,625.696

10/06/2021 10/06/2021 99XK00033 Export VLSX VT-T6-01 154 152 9,921,104

10/06/2021 10/06/2021 99XK00033 Export VLSX VT-T6-01 152 154 9,921,104

5,112,392,000
Total 5,112,392,000
 Table 2.4: Tools tracking book
Account waiting for allocation: 242
Number of
Record date Remaining The number of INSTRUMENTS
Code Name
increase
allocation allocation period recordings increased TOOLS value
Allotted Value Residual value
periods
153.008 Table BD 1600.800.8667 02/07/2020 24 6 1.00 7,800,000 5,850,000 1,950,000
LG IPS Monitor 21.5"
153.012 11/23/2020 12 0 1.00 2,200,000 2,200,000 0
22MK430H-B
MSI B360M PRO-VH
153.013 assembled printed circuit 11/23/2020 12 0 1.00 1,670,000 1,670,000 0
board
Intel Core i7-3700 3.4GHZ
153.014 11/23/2020 12 0 1.00 6,800,000 6,800,000 0
processor+fan
Internal
MemoryKingston8GB D4-
153.015 2133C15 11/23/2020 12 0 1.00 1,700,000 1,700,000 0
1Rx8nonECC288P(KVR21N
15S8/8
Computer Case Case Hankey
153.016 11/23/2020 12 0 1.00 250 250 0
HT 122
Computer source Hunkey CP
153.017 11/23/2020 12 0 1.00 400 400 0
350H
SEAGATE SSD 240GB
153.018 Maxtor Z1 SataIII 2.5" VT 11/23/2020 12 0 1.00 670 670 0
hard disk drive
File cabinet
153.019 11/23/2020 12 0 1.00 7,300,000 7,300,000 0
1.97mx1.8mx0.5m
total 161,472,727 107,553,530 53,919,197
153.019 File cabinet 1.97mx1.8mx0.5m 11/23/2020 12 0 1.00 7,300,000 7,300,000 0
153.081 DHF 50Y-2 . Fan 05/25/2021 12 4 1.00 3,640,000 2,426.664 1,213,336
153.084 Steel shelf: 2mx2m 04/02/2021 12 3 2.00 10,800,000 8,100,000 2,700,000

153.085 Laptop dell vostro 3401 l3

11/04/2021 12 3 1.00 12,890,000 9,667,503 3,222,497
1005G1/4GB/256GB+1TB/WIN 10

153.086 Shap Inverter 556 liter refrigerator

21/04/2021 12 3 1.00 7,990,000 5,992,497 1,997,503
SJ- FX630V-ST

153.087 Panasonic inverter air conditioner

05/15/2021 12 4 1.00 18,040,000 12,026,664 6,013,336
2HP CU/CS-PU18WKH-8M
Laptop dell Vostro 3500 IS
153,088 1135G7/8GB/256GB/Win 19/05/2021 12 4 1.00 17,690,000 11,793,336 5,896,664
10(7G3981)
153.110 Sofa E130L8D02 22/07/2020 24 6 1.00 18,000,000 13,500,000 4,500,000

1.561.637 Kangaroo water heater 22l-kg 73r2

13/10/2021 6 3 1.00 2,227,273 1,113,636 1,113,637
(duue100483)-new

211,001 Honda motorcycle JF583 Vision, SK

11/10/2020 36 22 1.00 29.545,45 11,489.898 18,055,556
514264, SM 5244038

CPPMKT Misa software cost SME.NET

01/01/2021 36 24 1.00 7,960,000 2,653,332 5,306,668
Professional package

CPPMNC Cost of updating software Misa

01/01/2021 24 12 2.00 3,900,000 1,950,000 1,950,000
SME.NET Professional package
Total 161,472,727 107,553,530 53,919,197
Table 2.5: Allocate tools
Table 2.5:account ledger 152
Table 2.6: Detailed account book 242
CHAPTER 3: SOLUTIONS TO COMPLETE ACCOUNTING OF RAW MATERIALS AND INSTRUCMENTS AND TOOLS
AT MTQ HAI PHONG COMPANY LIMITED

The system of vouchers and accounting

accounts uses

Regarding the form of accounting books

Advantages
Regarding the organization working of the
materials and tools

About accounting voucher

About user account system

 The implementation of inventory of surplus
goods

About the transfer of documents

Disvantages
Regarding the method of calculating the cost
of goods exported from stock

About making provision for devaluation of

inventory
Complete accounting for raw materials and tools in MTQ HAI PHONG Company Limited

OPINION 1 :
The implementation of
inventory of surplus
goods

OPINION2:
Improve the transfer of
doc documents
OPINION 3:
About the method of
calculating the price of
exported goods
Thank you for hearing