Tóm tắt Luận án Completing the organization of accounting work at enterprises operating under the model of parent company - Subsidiary of the Ministry of Defense

MINISTRY OF EDUCATION AND TRAINING VIETNAM UNIVERSITY OF COMMERCE nguyEn thu hUOng COMPLETING THE ORGANIZATION OF ACCOUNTING WORK AT ENTERPRISES OPERATING UNDER THE MODEL OF PARENT COMPANY - SUBSIDIARY OF THE MINISTRY OF DEFENSE Major : Accounting Code : 62 34 03 01 SUMMARY OF DOCTORAL THESIS in economics Ha noi - 2016 The research is completed at Vietnam University of Commerce Research instructors: Assoc.Prof. Dr Doan Van Anh Assoc.Prof. Dr Nguyen Thi Mui Counter-argument 1: Counter-argument 2: Counter-argument 3: The thesis is defended by Thesis Council ay University level, convened at Vietnam Unviversity of Commerce. At , dated on / / 2016 The thesis could be studied at National Library and Library of Vietnam University of Commerce PREAMBLE 1. Urgency of research topic In the intergration trend and under the strong impact of productive forces’ developing process, enterprises operate as parent company - subsidiary have been being established and grown stronger by their inherent advantages. In Vietnam, the basis to form the model of "parent company - subsidiary" started from the early 1990s with the establishment of 90 corporation and 91 corporation. The establishment of parent companies - subsidiaries under the Ministry of Defense (MOD). From the theoretical basis and practice, the author chooses the thesis: "Completing the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense" to be the doctoral thesis in economics. 2. Research overview * In the world Some researches in the world. Some characteristics of organization of accounting apparatus modeled as parent company - subsidiary in most countries in the world. Regarding to the content of consolidated financial statement system (CFS) according to international practice and most countries over the world such as UK, US, Australia, France, Japan CFS includes 05 main statements: Consolidated balance sheet; Consolidated income statement; Consolidated cash flow statement; Equity volatility statement; Note to CFS. Generally the principles, procedures and process of financial statement (FS) are complied with regulations of the Commission of international accounting standard. * In Vietnam Some typical researches. However, there is no project specifically and comprehensively researches, analyzes about the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense. Therefore, the thesis “Completing the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense " is the scientific work which is valuable on both theory and practice, and highly applicable specially for army enterprises in peacetime who has two strategic tasks: to develop the economic, build up and defend the country. 3. Research objectives of the thesis - Theoretical side: Systematizing and improving the theory of organizing accounting work in enterprises in generally, in enterprises operating under the model of parent company - subsidiary in particularly. - Practical side: Researching, annalyzing, evaluating the situation of organizing accounting work, on that basis to propose the solutions to complete the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense. 4. Objects and scope of the research 4.1. Objects of the research Objects of the research are theoretical and practical issues about the organization of accounting work at enterprises operating as parent company - subsidiary. 4.2. Scope of the research - Space of the research: Researching the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the MOD including 1 economic group (there are 02 Corporations operating as parent company - subsidiary under the group), 13 Corporations. - Time of the research: Surveying, researching the data of organizing accounting work at enterprises operating as parent company - subsidiary of the MOD since 2010. - Content of the research: The thesis researches on the organization of financial accounting work at enterprises operating under the model of parent company - subsidiary of the MOD in order to supply the information for making and presenting CFS, the thesis mentions making and presenting the segment report. 5. Research methods 5.1. Database - Primary data: The survey is designed into 2 kinds: + The survey on actual situation of the organization of accounting work in parent company: + The survey on actual situation of the organization of accounting work in subsidiaries and members: - Secondary data: (1) Based on the data of actual situation of the organization of accounting work at enterprises operating as parent company - subsidiary under the MOD supplied by the unit and the General Department of Economics - Technique under the MOD. (2) Summary of previous studies. (3) Referring to analyses, comments of specialists on press and media. 5.2. Research methods The thesis uses qualitative method with the following content: document research, actual situation research by practical methods including: method of document research, observation method, interview method and investigation method. 6. New contributions of the research - Theoretical side: The thesis generically, systematically presents and improves the general theories on the organization of accounting work at enterprises operating as parent company - subsidiary. - Practical side: + The research clearly indicates factors influencing the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the MOD. + Practical surveying, reflecting and evaluating the actual situation then find out strengths and limitations of the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the MOD. + From the limitations of the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the MOD combining with development oriented research of enterprises operating under the model of parent company - subsidiary of the MOD to become the basis for completing solutions. - Practical applicability: The thesis proposes solutions to complete the organization of accounting work matching with characteristic of the organization of apparatus management, the organization of business activities of enterprises operating under the model of parent company - subsidiary of the MOD. 7. Structure of the thesis Except preamble, conclusion, list of references and appendix, the thesis is structured into 3 chapters. Chapter 1: Basic theory on the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense. Chapter 2: Actual situation of the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense. Chapter 3: Completing the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense. Chapter 1 BASIC THEORY ON THE ORGANIZATION OF ACCOUNTING WORK OPERATING UNDER THE MODEL OF PARENT COMPANY - SUBSIDIARY 1.1. Overview about enterprises operating under the model of parent company - subsidiary 1.1.1. Concept of model parent company - subsidiary "Parent company - subsidiary" usually refers to a combination or a group of companies relating to each other for capital, independent on legal and under the commonly unify control of the company holding the power to govern (parent company). In legal science as well as economic science now there is definition which is quite clear about “parent company” and “subsidiary”. According to the interpretation of international accounting standards IAS. According to UK company Act in 1985. Definition of parent company, subsidiary in Russia. According to Australia company Act. According to Malaysia company Act. Commercial law in Japan According to Black’s Law Dictionary. According to Vietnamese Wikipedia, free encyclopedia. According to the author, "parent company - subsidiary" is understood as a combination of companies, in which: Parent company is an enterprise established and registered in accordance with the law, has legal personality and powerful enough to control or to govern other companies (subsidiaries) in the combination and gets the acceptance of subsidiaries. Subsidiaries are enterprises in the combination established and registered in accordance with the law, and have a parent company to govern, control and voluntarily accept that governance and control under the certain rules and methods. 1.1.2. The establishment and development of enterprises operating under the model of parent company - subsidiary In the world: The development process of market economy. The birth of a new form of organizing manufacturing business which is enterprises operates under the model of parent company - subsidiary. * Indispensability of the establishment and development of the model of parent company - subsidiary * Major method to form enterprises operating under the model of parent company - subsidiary In Vietnam: In Vietnam, the model "parent company - subsidiary" started forming from the beginning 1990s with the establishment of eighty 90 corporations (according to Decision No.90/TTg) and eighteen 91 corporations (according to Decision No.91/TTg dated on 7/3/1994 by the Prime Minister). The establishment of enterprises operating under the model of parent company - subsidiary in our country was the results of many factors: Firstly, Vietnam is in the process of international economic integration. Secondly, The process of equitization, ownership diversity and re-organizing state corporations and enterprises have been decreasing the number of member units whose capital are 100% held by the state at 91 companies. Thirdly, The important legal basis paves the way for the establishment of enterprises operating under the model of parent company - subsidiary in Vietnam. 1.1.3. Operating characteristic and superiority of enterprises operating under the model of parent company - subsidiary Characteristics of model of parent company - subsidiary: Firstly, model of parent company - subsidiary has legal personality, in which every member is an independent legal entity, has private business (fully economic legal personality); collaborating under the regulation that all members are equal under the law. Secondly, parent company has certain economic benefits relating to subsidiary’s operation. Parent company and subsidiary has a dependent relationship, support each other on strategy, finance and credit. Thirdly, parent company governs the decisions relating to subsidiary’s operation through some ways. Fourthly, the position of parent company and subsidiary is only in the relationship between two companies and is a relativity, which means the subsidiary could be a parent company of another company. Fifthly, the responsibility of parent company for subsidiary is generally finite. Sixthly, model of parent company - subsidiary is diverse in structure and legal. Seventhly, model of parent company - subsidiary has a large scope of operation, and in multidisciplinary, multi-sector business. * Some preeminence of parent company - subsidiary 1.2. Concept and factors influence the organization of accounting work at enterprises operating under the model of parent company - subsidiary 1.2.1. Concept of the organization of accounting work - Concepts of the organization of accounting work. + The first concept shows the organizing method of accounting work in the aspect of applying accounting methods, thus it does not clearly show many of relative factors. + The second concept emphasizes the duty of organizing accounting work but focuses on considering accounting as science research rather than a management tool in the actual operation of the enterprise. + The third concept mentions more detail on the organizing accounting work, to facilitate the application in practice to be favorable. Howerver, it does not clearly mention the apparatus organization to execute accounting steps. + The fourth concept specify the specific contents of the organization of accounting work in an unit, therefore it includes 2 key issues, those are to organize accounting apparatus and to organize collecting, handling the information on the basis of complying with principles, and accounting methods. The view of the author: agree with the fourth concept, the organization of accounting work is to organize a system of constituent elements including organizing accounting apparatus, organizing the implementation of economic - finance and accounting policy, along with the connection and the impact among those elements to maximize the functions of the system. 1.2.2. Factors influence the organization of accounting work in enterprises operating under the model of parent company - subsidiary Basically, the organization of accounting work gets influenced by the following factors: - Internal factors + Characteristic of business environment Firstly, it is the complexity of business environment. Secondly, it is the volatility of business environment. + Characteristic of organization management + The qualification of accounting staff + Request and IT applicable capability - External factors + Accounting legal environment + The development of accounting services in current and in future 1.3. Principles, content of the organization of accounting work at enterprises operating under the model of parent company - subsidiary 1.3.1. Principles of the organization of accounting work in enterprises operating under the model of parent company - subsidiary The organization of accounting work should be systematic, scientific, and reasonable and comply with some following basic principles: - Matching request of economic integration, international accounting integration, principles, and international accounting standards. - Obeying and matching with regulations of Accounting Law, accounting standards, regime and legal document system of accounting issued by the State. - Matching with characteristics of production, business activities (PBA), business management activities as well as scale and operation area of the unit, matching with request and qualification of management officers, accounting staff. - Ensuring the consistency between accounting and management, promptly providing full and honest information of PBA for management request. - Ensuring the saving principle, being practical and effective. 1.3.2. Basic content of the organization of accounting work in enterprises operating under the model of parent company - subsidiary - The thesis determines the content of organizing accounting work including model of organizing accounting apparatus, organizing the accounting check and organizing IT application in accounting work. - Organizing information system of financial accounting: including collecting, handling and providing accounting information, organizing to analyze accounting information. 1.3.2.1. Organization of accounting apparatus in enterprises operating under the model of parent company - subsidiary (1) Model of organizing accounting apparatus in enterprises operating under the model of parent company - subsidiary. * At the accounting department of parent company: * At the subsidiary: (2) Organizing accounting check (3) Organizing IT application in accounting work at enterprises operating under the model of parent company - subsidiary 1.3.2.2. Organization of information system of financial accounting at enterprises operating under the model of parent company - subsidiary - Concept of Accounting information. - Working process of Organizing accounting information system includes: collecting, handling, analyzing and information supplying. (1) Organizing to collect, handle accounting information in the enterprise operating as parent company - subsidiary (1.1) Organizing accounting voucher system (1.2) Organizing accounting account system (1.3) Organizing accounting record system: (2) Organizing to make, provide and analyze information in the financial statement (2.1) Organizing financial statement system a. Private financial statement b. Consolidated financial statement c. Segment financial statement (2.2) Organizing to analyze consolidated financial statement Conclusion of Chapter 1 Chapter 1 of the analyzes basic theories about enterprises operating under the model of parent company - subsidiary and the organization of accounting work in these enterprises, systematizes every content of the organization of accounting work at enterprises operating under the model of parent company - subsidiary. The presentation of basic theories of the organization of accounting work at enterprises operating under the model of parent company - subsidiary is very necessary and plays an important role in being the basis to evaluate the actual situation of the organization of accounting work at these enterprises. It also creates premise for solutions to complete the organization of accounting work at enterprises operating under the model of parent company - subsidiary, a new type of enterprise developing in Vietnam. Chapter 2 ACTUAL SITUATION OF THE ORGANIZATION OF ACCOUNTING WORK OPERATING UNDER THE MODEL OF PARENT COMPANY - SUBSIDIARY OF THE MINISTRY OF DEFENSE AND OTHER COUNTRIES’ EXPERIENCES 2.1. Characteristics and factors influence the organization of accounting work at enterprises operating under the model of parent company - subsidiary of the Ministry of Defense 2.1.1. General overview about enterprises operating under the model of parent company - subsidiary of the Ministry of Defense - General legal basis for the establishment of enterprises operating as parent company - subsidiary: Counting to 2013, the MOD had 23 enterprises operating as parent company - subsidiary. There are 1 economic group, 14 Corporations and 8 companies operating as parent company - subsidiary. According to the statistic of Economics Department - MOD, since 2010, the average annual revenue of enterprises operating as parent company - subsidiary increases by 12%, profit increases 16%, submitting the state budget up 13%. However, the operation of these enterprises have some existing problems: scale and efficiency of production and business among enterprises still have significant differences, the scale of enterprises on different sector has great disparity, there are some parts of enterprises which have complicated financial situation, and high risks 2.1.2. Characteristic of the operating organization and managing organization at enterprises under the model of parent company - subsidiary of the Ministry of Defense Enterprises operate in many sectors as petroleum, construction, telecommunication, rubber, textile, ex-importing, seaport exploitation. The operation of enterprises focuses on 3 groups: Production, construction and service commerce. Within the scope of thesis, the author shall research deeply in the model of organization of accounting work at Viettel telecom group and some typical Corporations operating as parent company - subsidiary under the MOD. The model of parent company - subsidiary at these enterprises operated as 2 types: Vertical link and horizontal link. Characteristic of managing organization of some typical enterprises operating under the model of parent company - subsidiary of the MOD. * At Viettel telecom group * At Defense Economic Technical Industry Corporation (GAET). 2.1.3. Factors influence the organization of accounting work at enterprises operating under the mode