Assigment Report on Accounting System - Thu Duc Centrifugal Concrete Joint-Stock Company

Topics: Balance sheet, Asset, Generally Accepted Accounting Principles Pages: 20 (5574 words) Published: May 20, 2013
High Quality Auditing Class – Intake 52|
Assignment Report
Abt. Thu Duc Centrifugal Concrete Joint-Stock Company|

Group 4:|
Duong Thi Phuong ThaoLe Duy AnhNguyen Thi HangNguyen Mai HuongLe Khanh Ly| |


A.General information2
I.Establish and Development2
II.Description of business3
B.Description of accounting system4
I.Summary of significant accounting policies4
II.Description of recording process6
C.Brief look at financial statements15
I.Balance Sheet (Shortened) – Comparison between two years15
II.Income Statement – Comparison between two years17
III.Statement of Cash Flow (Unconsolidated) - Comparison18
IV.Financial ratios analysis20
Appendix 1: Form of records and documents used22
Appendix 2: Consolidated Financial Statements23

Thu Duc Centrifugal Concrete Joint-Stock Company
A. General information
I. Establishment and Development
Thuduc Centrifugal Concrete Workshop is established on May 1989, directly under Power Construction Company No.2 – Vietnam Electricity Coorporation, a professional manufacturer on industrial concrete products (major are poles). * Based on Decision no. 265/QĐ (VT5/ĐVT/TCCB) dated on March 15, 1997, Thuduc Centrifugal Concrete Workshop is changed to Thuduc Centrifugal Concrete Factory. Being a State Business, the factory has specific characteristics of a manufacturing factory. Main products are spun poles, spun pipe , prefabricated building components …for electric field and industrial zones, and residential quarters. Thuduc Centrifugal Concrete Factory is a indipendent business on finacial post. * On 06th November 2003, conforming Desision 180/2003/QĐ-BCN from Ministry of Industry on equitizing, Thuduc Centrifugal Concrete Factory becomes Thuduc Centrifugal Concrete Joint -Stock Company with 51% State onwed (Joint-Stock Company governed by State) and 262 shareholders. * On 04th February 2004, a Citificate of Business Registration No. 4103002081 issued by Hochiminh City Service of Planning and Investment with initial charter capital is VND. * On October 2005, charter capital is increased to 15.400.000.000 VND (issuing more stocks for current shareholders) for maximum supplying capital for company’s operation bought by 270 shareholders . * On November 2006 , realizing that the demand of electric pole and concrete pile is getting higher, Thuduc Company continues to increased charter capital for investing in a new project : Dungquat Centrifugal Concrete Joint-Stock Company at Dungquat Economic Zone, (Quangngai Province). So, the charter capital becomes 18.480.000.000 VND owned by 272 shareholders. * On July 2007, Company increases the charter capital for investing in a new comapny : Thuduc 2 Centrifugal Concrete Joint – Stock Comapany in Benluc District, Longan Province for meeting demand of industrial concrete products, pile, pole and prefabricated building components in Southwest of Vietnam. Charter capital becomes 26.950.000.000 VND owned by 123 shareholders. * On April 2008, charter capital increased one more time for investing in new project : Thuduc 1 Centrifugal Concrete Joint-Stock Company in Tanuyen District, Binhduong Province, for meeting the demand of industrial concrete products, pile, pole and prefabricated building components in SouthEast of Vietnam. Charter capital becomes 45.815.000.000 Vietnam Dongs owned by 115 shareholders. * Up to 05th September 2008, charter capital of Thuduc Centrifugal Concrete Joint-Stock Company is 45.815.000.000 VND, owned by 167 shareholders.

II. Description of business

The principle activities of the company are:
* Producing & trading in industrial concrete products ( Poles, Spun piles , Precast component, bridge beam , fresh concrete mixture …) * Designing industrial concrete products , mechanical products. * Consulting & handing over the technology to make the industrial...
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