INTRODUCTION TO THE CENTER OF BUSINESS ACCOUNTING PRACTICE

     INTRODUCTION TO THE CENTER OF BUSINESS ACCOUNTING PRACTICE

  1. AIMS OF CENTER

- For teaching specialized subjects Accounting - Auditing approach reality, bringing increasing professionalism

- Focus on professional practice; increase the practice and reduce theory

- Create a working environment resembles the accounting department are organized in business

- Create opportunities for students to hone their knowledge through serving resolve specific tasks

- For exchanging information, work experience between instructors, students and professionals in the field of accounting, auditing

- Updating legal documents for tax, accounting and auditing to enhance the knowledge and ability to work

- A growing practice of using proficient tool support for career in computer software

  1. FACILITIES AND EQUIPMENT

- Desks and chairs for working: 24 pairs

- Desks and chairs for discussing: 4 oval desks and 24 chairs

- Reception desks and chairs: 2 pairs

- Cabinet for individual instruments: 24

- Filing cabinets:

+ Big 8 for documents and files

+ Small 8 for other instruments

+ Air-conditioner: 3 sets

+ Computers

+ 24 clients

+ 1 server

+ Printer: 1

+ Photocopier: 1

+ Projector: 2

+ Amplifier: 1; Speaker: 2

+ Microphone: 1

  1. MATERIALS USED FOR PRACTICING

Printing papers

Punch

Staple

Stapler

Glue

Stamp

Scissors

Correction pen, highlighter

  1. SOFTWARES

Accounting software

Tax software

Microsoft Office 2010: Excel, Word, PowerPoint, Access

Internet

  1. IMPLEMENTATION

5.1         For accounting aims

5.1.1            Description

The center includes 4 zones; one zone has 6 pairs of desks and chairs, 6 computers; one desk and six chairs for meeting.

Each practice group is from 6 to 10 students

In one class has four groups as four enterprises

Each group is one enterprise including 6 people (1 Chief Accountant and 5 Accountants)

5.1.2            Deployment

To the third year Students: one enterprise uses one set of bussiness documents of trading and service (around 100 transactions in a quarter) for practicing:

Classify and arrange documents in timing order

Record and process transactions in accounting software, tax software and Excel, …

To the fourth year Students:

Four companies will make deals with each other for business transactions being situations (in the Case Bank) which is given by the lecturer was performed in 3 months (1 quarter). In addition, two students play as commercial banking employees to engage in business transactions of these four companies.

5.1.3            Roles are assigned as follow

Debt Accountant, Cash Accountant, Inventory Accountant, Tax Accountant, General Accountant and Chief Accountant, …

Purchasing Accountant, Sales Accountant, Cash Accountant, Inventory Accountant, Tax Accountant, General Accountant and Chief Accountant, …

Bank Accountant

The roles above will be rotated among employees to help each employee will have the opportunity to take over the functions of the different parts of the accounting, ...

5.1.4            Requirements

The output of each company is a full set of accounting reports:

Accounting documents and forms: Cash Receipt, Cash Payment, Inventory Receiving Voucher, Inventory Delivery Voucher, Service Purchase Voucher, Service Selling Voucher, Journal Voucher, VAT Invoice, Depreciation Schedule, Payrolls…

Account Books:

+ Cash: Cash Book, BankDepositBook, Cash Journal

+ Accounts Payable: Purchase Report, Purchase Journal, Vendor Ledger

+ Accounts Receivable: Sales Report, Sales Journal, Customer Ledger

+ Inventory: Inventory Card, Inventory Journal, Stock Card, Inventory Balance

General Accounting: General Journal, Ledgers, Object Balance, Trial Balance, Balance Sheet, Income Statement, Cash Flows and Explanation Report

Tax Reports:

Licence Tax declaration

Input VAT, Output VAT declaration

Individual income tax declaration

Income tax declaration

Tax settlement

The reports must be verified for accuracy and has signatures of those involved, are stamped on them

Documents, Account books and Reports must be arranged, stored logically and aesthetically

5.2                 For Auditing Aims

Financial Report Auditing

Tax Report Auditing

Consulting for setting up the procedures for processing the accounting transactions

5.3                 For setting up the accounting information systems

To collect, record, process data and provide information to users

To design the accounting cycles and an internal control system for them

To design databases and reports for providing information

To set up the accounting information system in computing environment

To assess and select an accounting software

  1. THE GOALS TOWARD IN THE FUTURE

            Using sucessfully Accounting software, Tax software, Excel, Access, …

            Rapid integration with actual working environment of business

            Self-confidence, bravery in the job interview and the actual work

            Rapid integration with colleagues in society

            Have the skills and background to work immediately

            Satisfy most of the requirements of employer

            …

Some pictures about THE CENTER OF BUSINESS ACCOUNTING PRACTICE