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27УДК 631.162: 075.32
ACCOUNTING INFORMATION SYSTEM FOR MANAGING OF SMALL AND MEDIUM BUSINESS IN VIETNAM
Bui Thi Thao Huong, student, Plekhanov Russian University of Economics, Moscow, Russia Email: [email protected]
Abstract. Generally, in enterprise administration, especially small and medium size enterprises, right and systematic information system serve as a management tool. One of the important information which constitutes the information system of the enterprise is the enterprise's information about accounting finance. There is need for honest, reasonable and useful information. Accounting system aims at collection, process and analytically providing spruce tin. Along with more and deeper international wide integration process, the field of accounting and audit needs right integration, and the features of Viet Nam enterprises must match with the integrated accounting system too, in the historical perspective. This paper focuses on building a suitable accounting information system for the small and medium size enterprise in the country for application, according to the international ordinance. A constructive accounting system for the small and medium size enterprises ought to serve the management, make the enterprises productive and efficient, and ensure responsibility with liability among the accounting and other personnel involved in the system.
Keywords: accounting information system, small and medium size enterprise, Vietnamese accounting standards, Vietnam, small and medium size enterprise accounting
БУХГАЛТЕРСКАЯ ИНФОРМАЦИОННАЯ СИСТЕМА ДЛЯ УПРАВЛЕНИЯ МАЛОГО И СРЕДНЕГО БИЗНЕСА ВО ВЬЕТНАМЕ
Буй Тхи Тхао Хыонг, студентка Российский экономический университет им. Г. В. Плеханова, Москва, Россия Email: [email protected]
Аннотация. Как правило, в сфере управления предприятиями, особенно малых и средних предприятий, правильные и систематические информационные системы служат инструментом управления. Одной из важных сведений, составляющих информационную систему предприятия, является информация о финансах бухгалтерского учета. Нужна честная, разумная и полезная информация. Система учета при сборе, обработке и аналитическом обеспечении ели. Наряду с более глубоким процессом международной интеграции, область учета и аудита нуждается в интеграции, а особенности предприятий Вьетнама должны совпадать с системой учета также в исторической перспективе. В настоящем документе основное внимание уделяется созданию хорошо информированной системы бухгалтерской информации для малых и средних предприятий в стране для применения в соответствии с международным постановлением. Конструктивная система учета для малых и средних предприятий (МСП) должна обслуживать руководство, делать предприятия производительными и эффективными, а также обеспечивать ответственность с бухгалтерским и другим персоналом, вовлеченным в систему.
Ключевые слова: бухгалтерская информационная система, малые и средние предприятия, вьетнамские стандарты бухгалтерского учета, Вьетнам, бухгалтерский учет малого и среднего бизнеса
1. LITERATURE REVIEW
Decree No. 56/2009 / ND-CP "On Promoting the Development of Small and Medium-sized Enterprises" issued that "Small and medium-sized enterprises are enterprises that registered their business in accordance with the law and are divided into three levels: macro, small and medium,
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depending on the size of their total capital (which is equivalent to the total assets indicated in the balance sheet of the enterprise) or the average number of employees (total capital is a priority criterion), ), concretely as follows Table 1:
Table 1. Classification of Small and Medium Enterprises [1]
Size, Sector Very Small Enterprises Small - Sized Enterprises Medium - Sized Enterprises
Number of Labourers Total Capital Number of Labourers Total Capital Number of Labourers
Agriculture, forestry and fishery 10 persons or less VND 20 billion or less Between over 10 persons and 200 persons Between over VND 20 billion and VND 100 billion Between over 200 persons and 300 persons
Industry and construction 10 persons or less VXD 20 billion or less Between over 10 persons and 200 persons Between over VND 20 billion and VXD 100 billion Between over 200 persons and 300 persons
Trade and service 10 persons or less VND 10 billion or less Between over 10 persons and 50 persons Between over VND 10 billion and VND 50 billion Between over 50 persons and 100 persons
SMEs are increasingly playing their important role in the social economy due to the increase in the number and level of contributions to the state budget, meeting the social security needs in the world [10, p. 230]. The International Accounting Standards Board has developed and issued accounting standards applicable to SMEs (IFRS for SMEs) in order to guide the way information is presented and provided in accordance with the requirements of the guidelines [11, p. 10]. Nevertheless, in Vietnam the accounting system for SMEs is not very different and clear. Thus, the question is whether we should or should not create an accounting system for SMEs to obtain separate information serving the leadership? This article analyzes and indicates the directions for completion Table 2. The accounting standards
in order to meet the requirements of management and economic management. 2. LEGAL SYSTEM ON ACCOUNTING RULES FOR SMEs
The accounting law in 2015 provided the most common problems in accounting and reporting, but has not yet given any terminology or contains provisions for SMEs [12, p. 330]. The system of accounting standards in Vietnam consists of 26 accounting standards (VAS) for Vietnamese businesses in general, which are divided into 03 groups with the rules: 07 VAS applied to all SMEs, 07 VAS does not fully apply to SMEs and 12 VAS, partially applying to SMEs, as details in Table 2, Table 3 and Table 4 below.
that are fully applied [5, 6, 7, 8, 9]
No Standards Name
1 VAS 01: General Standard
2 VAS 05: Investment Property
3 VAS 14: Revenue and other Income
4 VAS 16: Borrowing cost
5 VAS 18: Provisions and Contingent Liabilities and Contingent
6 VAS 2 3 : Events after the end of the Reporting period
7 VAS 26: Related Party disclosures
Table 3: The accounting standards that are not fully applied [5, 6, 7, 8, 9]
No Standards Name Contents that do not Apply
1 VAS 02: Stocks Distribution of fixed production overheads under normal machinery capacity
2 VAS 03: Property, Plant and Equipment Amortization period and amortization method
3 VAS 04: Intangible Assets
4 VAS 06: Leases Sale and leaseback are operating lease
5 VAS 07: Investments In Associates The equity method
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6 VAS 08: Investments in Joint Ventures
7 VAS 10: The effects of changes in Foreign Foreign exchange differences arising when converting the financial
8 VAS 15: Construction Contracts Revenue reco gnition cost of construction contracts in case the contractor is paid according to the plan progress.
9 VAS 17: Income Taxes Deferred income tax
10 VAS 21: Financial Statement Presentation Reduce the requirements presented in the report
11 VAS 24: Statement of cash Flows Only encouraged but not required to apply
12 VAS 29 Accounting policies, changes in Accounting estimates and Errors Retrospective application for change of the accounting basic.
Table 4. The non-applying accounting standards [5, 6, 7, 8, 9]
No Standards Name
1 VAS 11 : Business Combination
2 VAS 19: Insurance Contracts
3 VAS 22: Disclosures in the Financial Statements of Banks and Similar Financial Institutions
4 VAS 25: Consolidated Financial and account for subsidiaries company
5 VAS 27: Interim Financial Reporting
6 VAS 28: Segment Reporting
7 VAS30: Share - based Payment
The accounting regime of SMEs was published separately in Decisions No. 48/2006 / QB-BTC dated 04.09.2006 and No 15/2006/ QB -BTC dated 23/10/2006 by the Minister of Finance on the extension of the accounting regime for SMEs; it is amended and supplemented by Circular No. 138/2011 / TT-BTC dated 04.10.2011, which refers to the modification and addition of the accounting regime for SMEs.
From the presentation of the rules for the application of VAS for SMEs in Vietnam, we can see:
- No separate VAS standards for SMEs, simply have common VAS standards, and then define, in particular, for SMEs, in accordance with the accounting regime of SMEs;
- Provisions concerning SMEs are also much simpler than the provisions of VAS, due to the nature of SMEs in Vietnam;
- Specific provisions for the creation and presentation of financial statements.
The financial reporting framework for small and medium-sized enterprises includes:
- Mandatory reporting: Balance sheet, Form B
01 - SMEs; Statement of financial results, Form B
02 - SMEs; Notes to the financial statements, Form B 09 - SMEs
- Financial reports sent to the tax organization must prepare and submit the following additional statement: Worksheet - balance sheet account, Form F 01 - SME
- The report is not mandatory, but it is recommended to do: Cash Flow Statement, Form B 03 - SMEs.
In addition, to service requests for management, direct and manage business transactions, enterprises can create other detailed financial statements:
- Financial statements regulated for cooperatives. Worksheet - balance sheet account, form B 01 - SME / Co-op; Statement of financial results, Form B 02 - SMEs; Notes to financial statements, Form B 09 - SME / Co-op.
The content, methodology and presentation of indicators in each report specified in this mode are applied uniformly to SMEs that relate to entities that apply this financial reporting system. In addition, the indicators, items have been amended and supplemented with the circular No. 138/2011 / TT-BTC dated 04/10/2011 04.10.2011 on the direction of changing and supplementing the accounting regime for SMEs [14, p. 27]. 3. RESULTS AND DISCUSSIONS
The enactment of a separate accounting system for SMEs according to the author is not required, although there has been international accounting standards system for SME, because some fundamental reason is that according to Decree No. 56/2009/ND - CP of the Government dated 30/06/2009, Vietnam composes of 03 types of micro enterprises, small enterprises and medium enterprises, in addition to other types of businesses such as manufacturing enterprises , commercial
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enterprises, commercial banks, stocks ... If to suit each type of enterprise which issued its own accounting system would lead to overlapping and duplication, waste and difficult to apply; characteristics of different types of enterprises in Vietnam and the classification of different types of businesses also differ in international comparison [15, p. 77]. So, the next stage must proceed from the principles of arising operations and require presentation of financial statements, require providing information to build an appropriate accounting system, based on general principles to ensure the needed information for serving the enterprise management [13, p. 18].
Solution to build general accounting system adapted to various types of enterprise available in Vietnam today can perform the following trends:
The first, clearly defined criteria for Enterprise: from the identification of clear criteria for enterprises in general, and SMEs in particular, it will give out the scale of specific arising operations as well as requirements about formulation, presentation and providing information to stakeholders on the financial reporting system. The Enterprise's criteria of identifying in Vietnam currently prescribed by the Government, is primarily based on the financial aspects that have not paid much attention to the aspect of accounting. So, in the analysis, we found the difference relatively and clearly defined between the system IFRS for SMEs with the VAS for SMEs about the arising and the financial statements.
Therefore, need to carefully consider and amend the criteria of determining the business to be appropriate with the accounting aspects and financial aspects
The Second, tending to uniformity of the accounting rules for different types of businesses: which means, to build a roadmap steadily towards enterprise accounting that will be common rules for all types of businesses (large enterprises, SMEs, commercial banks, securities companies). This seems to contradict the current provisions of IAS/IFRS for SMEs, but consistent with the characteristics and the economic development of Vietnam. To do this, the accounting rules in general
should only prescribe to be "moral principles" in nature, should not prescribe too much in detail and specify the content; always create openness, creativity for accounting staff, as well as requirements for international integration. Specifically identify building principles and account system rules, it means, should not prescribe too specific the regulations, but should develop principled nature, that is:
- Group Asset Account is kind 1XX (short -term) and 2xx (kind of long - term);
- Group Short - term Liabilities Account is 31X, and 32X is long - term liabilities account;
- Group owner's equity Account is 41X, Capital of funds is 42X;
- Group Income Account IS 5XX (revenue from core business) and 7XX (other income outside the primary business activities, including income tax);
- Group Cost Account is 6XX (cost of main business activity) and 8XX (costs outside the main business activities, including income tax expense)
Deficit "XX" in the group of accounts is defined by each unit proactively established to ensure monitoring and the providing information that is truthful and reasonable
The third determine the building principles and regulate the basic transaction content: the basic arising for different types of businesses based on the principle of recognition of transactions, in a mobilization process in the business, about the Account of Assets, Liabilities, Capital, Income and Expenses and determining the results.
The fourth, identify and build the Financial statement system: coming from the problem of reflecting and monitoring of the account system, the FS will be designed just for texture pattern, consisting of the basic parts ensuring the presentation, and, providing information are as requested without "stereotyped, rigid" in nature, with fixed targets as available today.
Financial statements should be clearly defined as Separate financial statements/consolidated financial statements/general financial statements, and should be only provisions with general model.
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4. CONCLUSIONS
To get the right solutions for managing the enterprise in general and SMEs in particular, it is necessary and, first, to have a complete, honest and operative system of accounting information for enterprises. However, it is not easy to implement and solve, because of many factors, such as legal norms, the level of accounting staff and business. This conclusion is based on international experience, as well as the reality of Vietnam today. Thanks to the above presentation and analysis, it is necessary to take the path to solutions and set the goal to have an accounting information system of enterprises in general and, in particular, SMEs, which will serve as a guide for decision-making.
References
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