


















Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
During the internship, I learn a lot of useful knowledge so that I choose to summarize all knowledge into this report.
Typology: Study Guides, Projects, Research
1 / 26
This page cannot be seen from the preview
Don't miss anything!
order to see how they manage to work effectively and support for PNJ’s development. That's why I decided to choose "Cash capital accounting in PNJcomapny” as the base of my research and learning platform throughout the entire internship process at the company. I. OVERVIEW OF BUSINESS ORGANIZATION AND BUSINESS MANAGEMENT AT PHU NHUAN JEWELRY JOINT STOCK COMPANY.
Phu Nhuan Jewelry Joint Stock Company (abbreviated name: PNJ) which is a Joint Stock Company established under Vietnam's Enterprise Law, based on Business Registration Certificate No. 0300521758, issued by the Department of Planning and Investment in Ho Chi Minh City. The certificate was issued on January 2, 2004 and was registered for the 34th change on January 11, 2023. The company has been officially listed at the Ho Chi Minh City Stock Exchange since March 23rd, 2009 according to Decision No. 129/DKNY which was signed by the General Director of the Ho Chi Minh City Stock Exchange on December 26th, 2008. The company's headquarters is at 170E Phan Dang Luu, Ward 3, Phu Nhuan District, Ho Chi Minh City, Vietnam. The legal representatives are Ms. Cao Thi Ngoc Dung - Chairwoman of the Board of Directors and Mr. Le Tri Thong - General Director. Company’s logo: Figure 1.1: Logo of Phu Nhuan Jewelry Joint Stock Company Contact information: + Email: pnj@pnj.com.vn
The period 1988 - 1998, a pioneering journey:
On April 28, 1988, Phu Nhuan Gold and Silver Store was born at a time when the jewelry industry in Vietnam was still young and undeveloped. In 1992, the company began to focs on industrial jewelry production, investing in imported machinery and learning about technology, processes from other countries. From 1994 - 1998, PNJ focused on marketing activities, building and developing brand awareness with support from the World Gold Council. Furthermore, PNJ expected to expand the market to the North and Central of Vietnam. The period 1999 - 2008, constant making breakthroughs: This period marked many innovations and core values of PNJ. In 1999, PNJ expanded its market to Can Tho and the southwestern provinces, completing the presence of 3 major economic centers of the country. In 2001, PNJ Silver brand was officially established. From 2004 to 2007 Phu Nhuan Joint Stock Company had many many groundbreaking advances. ( Acquired the capital contribution of SG Seafood Joint Stock Company, became the controlling shareholder of Hong Leong Saigon Gas Cylinders Joint Venture Company and changed the company name to Hong Vi Na Gas Cylinders Limited Liability Company,...) The period 2009 - now, constituting achievements: During this period, PNJ realizes its vision of being Asia's leading jewelry manufacturing and retail company. They are looking forward to holding the number one position in the middle and high-end jewelry market segments in Vietnam. From 2009 until now, PNJ gains many considerable accomplishments such as:
The company's main activities are manufacturing and trading jewelry made of gold, silver, and gemstones, then they export and import their final products. The company's business fields include:
Duties and Functions of each company department :
analysis to complete long-term strategic development orientation for the company and its subsidiaries.
- Subcommittee of Environmental Social Governancẹ – ESG : has the function of advising and orienting to perfect the ESG system management model according to good practices. - Subcommittee of Human Resources – Rumeneration: is a department that implements human resources projects, including human resource development, planning, compensation policies and evaluation of succession planning.
Figure 1.4: Table of financial situation There are 5 important factors that can be used to evaluate PNJ’s financial situation:
Doing an internship at PNJ company gives me many opportunities to approach work experiences in professional environment. I am so grateful that I can intern at the Accounting position at the company because accounting is currently my main major in university as well as the future career that I am aiming for. During the internship, I was assigned tasks of supporting basic daily administrative office job in the accounting department. Every day, I arrange, classify and take notes on accounting documents. Furthermore, I take on the task of checking and comparing documents with information on the software to print receipts. Then I have to send them to get stamps from the accountant in charge. After that, I need to draft sample reports for the accountants in the department. These jobs help me understand more about bookkeeping, data entry and reporting processes of accounting in PNJ company. Beside that, I also have the chance to learn how to use current accounting software, which helps me understand better how to enter and receive financial data about cash flows through computer. I am responsible for printing neccesary documents, composing and sending emails according to the company's standard format, as well as presenting a complete report. After comparing and checking the documents and invoices, I bear responsibilities to send these documents to the appropriate accounting office. Doing administrative jobs help me to observe and learn more about daily official account’s work at Phu Nhuan Jewelry Joint Stock Company. Although the internship period was short, I learned many necessary soft skills as well as accumulated a lot of useful knowledge for official work in professional working environment.
Phu Nhuan Jewelry Joint Stock Company applies computerized accounting form according to the accounting book form which is designed base on the form of "General Journal". This form has considerable support from SAP accounting software. The company chose this form of accounting to help data processing in accounting department run more quickly and effectively, which can save time for staffs. This form also provides financial data and neccessary information faster and more accurate. The order of recording accounting books in accounting department is performed based on regulations of the current economic regime. Branches need to make monthly accounting reports, store reports as well as prepare statistical accounting reports in order to send them to the Company's Accounting Department for accounting in the end of every month. Regularly, chief accountant is legally responsible for supporting general manager in organizing accounting tasks and financial accounting work. The General Director and Chief Accountant must bear responsibilities for company's revenue and expenditure documents and accounting records. Chart of bookkeeping procedures in the computerized accounting form, with the participation of SAP accounting software.
and income of the company with accurate numbers by accounting tasks. Prepare financial reports according to Vietnamese and international accounting regulations and standards. (VAS và IFRS)
The company uses SAP S/4HANA software to support the management and recording of accounting data. SAP which is business planning software developed by the German company SAP. This software is suitable for large company. Basically, SAP S/4HANA is software that combines traditional ERP with data from Internet of Things applications, blockchain and artificial intelligence,... Thanks to that, this software can
perform a variety of tasks such as predicting models or consumer behavior as well as business planning, etc. Integrating a high-speed analytical reporting system allows corporations to collect and process data based on financial functions, fund controling functions, and risk management functions so that those companies can make financial plans quickly and exactly. Figure 2.3: SAP’s interface in PNJ
In theory, Cash capital is a part of the current assets in an enterprise that exists in monetary form and has the highest liquidity, including:
Debit TK 1111: 5,616,000 VND Imagine 2.5: Payment voucher
Imagine 2.6: VAT invoice Imagine 2.7: Entry the general journal They have not only “ Capital Accounting in cash” but also “ Capital Accounting in bank transfer” and “ Accounting for Cash in transit”
Phu Nhuan Jewelry Joint Stock Company always strives to improve and develop the quality of services as well as their products to provide customers with the best shopping experiences. The scientific and logical leadership of directors which is combined with the serious working spirit of the employees has helped the company have a strong position in today's volatile market. Futhermore, the company has a team of employees who are dynamic, enthusiastic, highly responsible in their work, highly qualified and professional, which brings a lot of achievements and potential development for PNJ. The company has all bases to open up a promising future. Besides that, accounting work at the company is well-organized and coordinates smoothly with other departments in the company. That helped improve work efficiency at the department in general and at the company in particular. The mutual comparison of data between the accounting department and other departments creates accuracy in the company's reporting. Moreover, works in the accounting department is always performed sequentially under close supervision so that working efficiencies of employees is always guarantees at an optimal level. The way PNJ organizes their working model
The company should expand document storage to limit document loss and to make searching and extracting documents jobs easier; thus the accounting department can work more effectively. To better manage revenues and payables, accounting department should consider fluctuations in accounting data, determine the time and cause of the above items to take timely measures. Moreover, increasing contracts with customers who have quick payment methods, investigating customers’ financial situation and their ability to pay will help the company have better financial strategies to control revenue and economic contracts Futhermore, it is essential for accounting department to invest in developing accounting software. They should also train new accountant to understand clearly how to use the software before working. Effective working software combined with the application of software to employees' work will help the department's work efficiency skyrocket which distributes to the company's growth level.
The working model at the PNJ company is very professional and modern. All departments rooms in the company are arranged based on their work and function in a logical manner. That helps board of directors operate the company easier and more efficient. Each department has a different office layout and design, which provide suitable working space for their own work’s functions and characteristics. This help employees have high working spirit. To accounting department, the supervision and management is strictly and clearly organized so that accountants always work independently and try to complete their work well to get the best results. Moreover, accountants have software to support their jobs and their work is clearly discussed from the beginning so that almost all employees clearly understand their own responsibilities and can coordinate teamwork with other employees smoothly. That's why the atmosphere in the company is always comfortable and supportive. Normally, if there is a problem at work, employees who are in charge of that task will support each other and find a way to solve the problem together instead of arguing and blaming each other. Employees in the department also regularly share snacks during breaks with each other, which helps increase the bond between everyone. Because of that professional working style, the department always maintains very good working progress. The PNJ company often organizes bonding sessions or events to help all employees relax. The company also regularly organizes talk shows which are hosted by company's directors in order to listen to employees' opinions and views as well as share their experiences. That not only helps employees' mental health improve, but also increases employee solidarity, which makes work efficiency always stable and increase over time. III. AN ASSESSMENT OF THE INTERNSHIP
1. Skills and qualifications that students gained from internship. Lessons that students learned from the internship. Through the internship process at Phu Nhuan Jewelry Joint Stock Company, I realized that accounting is an important position in a business. Accountants must always master their expertise and regularly update changes in laws and financial policies. They also have to apply theory and skills to practice scientifically and reasonably. The internship at the company gave me the opportunity to interact with the work of a cash accountant. I have been trained to be meticulous and careful in my work, because for an accountant, if errors occur during work, the business process and transparency of information will be seriously affected. Besides that, I learned many useful administrative skills such as printer-using skills, and report-making skills through my internship tasks at PNJ. I also know how to compare and check information on receipts. I have ascertained how to arrange and classify accounting documents and record relevant actual data. This helped me better understand how to present a financial statement in a company. I have responsibility for recording reports as well as composing and sending sample emails which allows me to observe how the accounting department operates. The accounting staffs at PNJ has supported me a lot in the process of learning and practicing on SAP accounting software. Checking the data and invoices on the software created an opportunity for me to get acquainted and better understand how to work in conjunction with SAP software. The internship process trains me to be more responsible at work and organize my time more effectively. I have been able to be more independent in self- studying and cultivating necessary skills. Furthermore, it helps me realize that not only expertise is very important, but careful practice is also extremely essential. I have become more meticulous in my work as well as more sociable when participating in an organization or group. The knowledge and experiences during the internship give me a stronger foundation and clearer vision of accounting work. 2. Knowledge Before/ After the internship and in comparison to your expectation After interning at PNJ, I realized that the knowledge learned at the university is extremely useful and practical. Thanks to quick updates applied to lectures and courses, I was not bewildered when entering an internship at a large company like PNJ. Most of the reports and working processes are based on the knowledge that I have learned at school. Normally, financial reports in the accounting department are always made according to VAS standards, but now they are all gradually shifting to IFRS. Besides that, during my internship, I also learnt that to be able to work in professional work place, specialized knowledge at school is not enough because actual work also requires soft skills, social knowledge, and legal knowledge. Therefore, cultivating, observing, and applying learned knowledge into practice is a journey that requires a high spirit of learning. Before the internship, I did not have any clear view about the accounting industry, did not know clearly about the working processes of the department and the accountant's job at the company. Thanks to the assigned work at the