INTRODUCTION
1 . Rationale of the study
The Accounting system is an important component of the system of
economic management tools - finance, plays an active role for the
management, operation and control of economic activities. Following the
trend of world and regional economic integration, accounting system is
required to be completed synchronously and suitably in providing
information in order to meet the new administration requirements. Business
accounting system has many contents, including the system of accounts is an
important content which is related to and has decisive effects on all
remaining contents of the business accounting system.
Through Business account system, accountants classify, reflect, record
and process apparently arising economic transactions on time and fully. This
process helps to check and analyze information about arising economic
transactions according to administration requirements, also helps Directors
Committee of Business to make economic decisions on time. At the same
time, through Business account system, accountants collect the necessary
information which is the basis of process of setting up and presentation
Financial Statements (FS), which will be a reliable basis for the
administrators evaluate the financial situation exactly and forecast the
financial demands of the business in the future. Therefore, Business account
system plays an important role in determining the quality of accounting
information and accounting job. Thus, in the process of developing the
business accounting system, it is necessary to perfect business account
system.
In fact, besides Account system regulated in Business Accounting
system issued by Decision No. 15/2006 dated 20/3/2006 (hereinafter as
Decision No. 15) of the Financial Minister , Account system also applies to
small and medium enterprises issued following by Decision No. 48/2006
dated 14/9/2006. In addition, according to Decision No. 15, the specific
fields and industries are allowed to develop and issue separate account

system ( Electricity Group, Telecommunications Group, Petrolimex Group,
Aviation Corporation, ... ) . On the other hand, because the rules of the
account system do not keep up with economic development, the Ministry of
Finance has to amend and supplement the system of account regularly (the
Circular No. 138 / 2011 dated 4/10/2011 about amending and supplement
the accounting system of small and medium enterprises; Circular 244/2009
dated 31/12/2009, about amending and supplement accounting system issued
following by Decision No. 15/2006 dated 20/3/2006 ; ... ).

The existence of many account systems which are applied for
businesses, supplemented and updated regularly according to recent
regulations can make difficulties in the operation of business accounting
information system. On the other hand, the obligation of implementing the
layered account system, such as the accounts which is being applied to the
current business is not flexible and does not enhance self-responsibility of
business because of not allowing the business owners to open the detailed
layered account system , not require businesses to design and implement
account system by themselves according to Accounting Standards and
related regulations about setting up and presenting Financial Statement as
well as meeting the administration requirements of State and business.
United applying account system and accounting method will no longer
match with the actual policies, economic, financial and tax system, which is
newly issued or amended, supplemented or varied business activities in the
trend of economic integration.
According to basic analysis above, the author has chosen the subject
for her doctoral research, entitled "Study accounting system used in the
manufacturing business in Vietnam”.
2. Aims of the study
The basic aim, through the study is the application of theoretical
framework of account, account system used in the manufacturing - operation

business and the usage of data about account system of manufacturing
business analysis, evaluation of current systems accounts used in current
manufacturing - operation business in Vietnam, from which to find
appropriate solutions to develop and build account system used in
manufacturing - operation business in Vietnam in order to improve the
quality of accounting information for managers.
3 . Object and scope of the study
- Object of the study :
The study researches of the account system used in the manufacturing
- operation business in Vietnam. With this object, the author studies in depth
the basic theoretical issues and survey the actual situation of the account
system as well as the application of current account system in the business along with the recommendations for improving the current business accounts
system.
- Scope of the Study:
The study focuses on researching current account system used in
manufacturing - operation businesses in Vietnam and recommending
completion and building account system of these businesses. In detail:


+ About the contents: Research thesis limits the theoretical and actual issues
related to account systems account applied in manufacturing - operation
businesses;
+ About space: : Research thesis limits to study account system account
applied in manufacturing - operation businesses and the usage current
account system in these businesses;
+ About time: Research thesis studies account system used in the
manufacturing - operation businesses in Vietnam since 1954, especially, the
author focuses in the period from 3/ 2006 to now, when the account system
is applied in the manufacturing - operation businesses.
4 . Research Questions

To get the objectives given above, the thesis focuses answer general
question: How does current account system used in the manufacturing operation businesses in Vietnam affect the result and efficiency of
accounting, in general, and the quality of accounting information in
businesses, in particular?
Since then, the thesis pursues the following questions:
*What are the characteristics of the account system used in the
manufacturing - operation business?
*What are the factors affected the account system used in the
manufacturing - operation business?
*What are the solutions and recommendations to improve and develop the
account system used in the manufacturing - operation business?
5. Methodology
The study used the combination between qualitative and quantitative
research methods. Quantitative research method is the use of explanation
approach and qualitative research method is the use of inductive approach.
6. New contributions
Thesis has the following key contributions:
- Systemize and clarify the basic theoretical issues of account system used in
businesses.
- Analyze and evaluate objectively the existence of the current account
system used in manufacturing – operation businesses in Vietnam.
- Study the influence of subjective and objective factors to the current
account system used in manufacturing – operation businesses in Vietnam.
- Propose solutions and conditions to improve and build the current account
system used in manufacturing – operation businesses in Vietnam.
7. Structure of the study
Apart from to the introduction, conclusion, list of tables, charts, appendices,
references, the thesis includes four chapters:

Chapter 1: Overview of business account system;

Chapter 2: Theoretic foundation of accounts and account system used in
manufacturing – operation businesses.;
Chapter 3: The findings of researching about the account system used in
manufacturing – operation businesses in Vietnam;
Chapter 4: Discussion about research findings and recommendation for
solutions to improve the current account system used in manufacturing –
operation businesses in Vietnam.
Chapter 1

Overview of business account system
In conditions of market economy following to socialist orientation and
the trend of international economic integration, the management of the
Government by laws requires businesses to innovate and improve system
financial management tools, including accounting systems. Accounting
system is an association of many different components and factors, including
the account system considered as an important component of the business
accounting system, which has an influence to other components in this
system.
Account system plays an important role in the management of capital,
assets, operation activities of each business as well as accounting also
provides essential information for all related businesses, organizations and
individuals including investors, customers, suppliers, ... Information
provided by Accounting is the foundation for the Government to control and
investigate operation activities of businesses and Governmental management
about business accounting, contributing to macro – economy regulation.
Research on account system in manufacturing – operation businesses
has been done in most countries around the world. In developed and
developing countries, along with the development of market economy,
accounting system, including account system in manufacturing – operation
businesses is set up by themselves according to Accounting Standards.

Account system is regularly studied, supplemented, amended and improved
to meet the requirements for providing information for management. The
study of account system is carried out in agencies, organizations and
business depending on the study, building to issue business accounting
system of each country.
Currently, in the world, there are two systems tendancy to build
Account system as follows:
* 1st trend: The businesses build account systems based on accounting
standards ( translated to “ Based Accounting Standard").


- 2nd trend: Government builds issues united business account system
applied in enterprises (translated to "Uniform Accounting Plan").
In Vietnam, the researches and evaluation about business account
system of scientists are quite diversified, which can be generalized on the
following aspects:
- About the authors: The authors of this evaluation almost are lecturers
teaching accounting in universities or colleges, experts in building
Accounting system field; accountants, corporate administrators, individuals
and businesses which build to sell business accounting software. The study
was carried out during the research and training in the practical organization
of accounting corporate.
- About the scope and object of study: The study about account system
involves in theoretical issues as well as investigated buildings in these
businesses.
- About the nature and mean of the study: Because subjects are diversified,
the nature and mean of these researches is also diversified such as the
scientific study published in the specialized journals or researches of the
ministries.
- About the views and mentioned solutions : The published researches can

be divided into 2 groups: Specific solutions and views and general ones.
Besides the specific researches, Vietnam also had a few researches
about accounts and accounts system in manufacturing – operation businesses
holistically, towards the building and developing account system in these
businesses. Firstly, Ministerial research (Ministry of Finance) "Innovation of
unified account system" was accepted by Chairman Dr. Vo Dinh Hao in
1989. Because this research was studied in the late 80s of the last century, it
only mentioned about unified account system in the system of budget
subsidies.
Dr. Nguyen Van Cong and his partners in the Ministerial subject
(Ministry of Education and Training) "Complete unified account system
applied in manufacturing – operation businesses in Vietnam” – mentioned
account system in the market economic period with the aim of improving the
business account system according to Decision No. 1141/1995 of the
Minister of Finance about issuing Business accounting system. Many
solutions of the author has been acquired, edited in Decision No. 15/2006
(replacing Decision No 1141/1995) as the name of account, the account
group and additional content the account.
In summary, through an overview of the researches about completion
business account systems inside and outside Vietnam have given valuable
recommendations. These recommendations are divided into two types: (i)

The specific recommendations has generally just brought small changes in
current account system in business and not made a really breakthrough
changes. Most authors focused on the improvement of the account system,
there are still inappropriate and unfinished contents in system such as issuing
amendments, supplement accounts or accounting methods in accordance
with actual conditions, consistency among Standards Based Accounting,
financial regulations and current Standards Based Accounting, (ii) There is
little research holistically....

The Summary of Chapter 1
Chapter 1 focuses on clarifying the published research by scientisyts
inside and outside our country about accounts and accounts system, in
general; account system in manufacturing – operartion businesses in
particular. This indicates gaps which are needed to continue researching and
establishing the subject of the thesis "Study accounting system used in the
manufacturing business in Vietnam”.
Chapter 2

Theoretic foundation of accounts and account system used in
manufacturing – operation businesses
2.1. Accounting, legal framework and regulations on business
accounting
2.1.1. Accounting model
Accounting is the collection, processing, testing, analyzing, and
providing economic and finacial information, in the form of financial value,
kind and labor time, but accounting is not pure science, it is the kind of
social science about economic management. In fact, accounting is governed
by many factors such as economic conditions, socio-cultural, political and
national laws of each other over a period historians development. Historical
research of accouting in the different periods around the world, it can
generalize the accounting model into 6 types as follows: cash accounting
model; accrual accounting model, the accounting model; tissue the static
accounting, accounting model macro current model of accounting. Six basic
types of accounting correspond to the way different accounting and different
economic systems. The identification of these differences is necessary to
build appropriate accouting system.
Identify accounting Vietnam model
Distinguish accounting modes as described above, the study
characterized the expression of business accounting inVietnam which not

only reflects the assets of the business but also leasing assets, the value of


assets is recorded real cost and reflected the assumption that continuous
business operations; stated capital amount raised etc. .....
From the above characteristics, it can be found that accounting system in
Vietnam has many characteristics of the moving accounting model which is
served for requriments of the assessment of effective economic activities and
performed as accumulative method . Thus the system in general and Balance
particular system technical design for enterprise business application must
be built according to the following principles: (i) Comply with the principles
and VAS (ii) All the assets involved the business processes of enterprises are
recorded at historical cost convention without recorded at market value and
the accounting point of view in favor of use of property without accounting
assets under ownership by So accounting is increasing or decreasing asset
receipt or transfer property or the rights and obligations arising out of such
property, (iii) Funds are recorded at the amount of capital received and not
recorded in the registered capital (iv) Depreciation and amortization is
calculated on a systematic way the cost (fixed cost) based on how the
recovery of the economic benefits of each fixed and static bypass
amortization, (v) The financial statements shall be made, (vi) Revenue and
expense recognition principle not money but the principle is recognized in
each period accrual in accordance with the actual profitability of the use of
property; (vii) The accounting method is a method of recording dual method
perpetual or periodic inventory.
The basic characteristics of accounting in Vietnam, studying business
account system provide solutions to complete the Law on Accounting,
Balance of accounting and Vietnamese Standard Based Accouting system.
At the same time, to meet the requirements of international economic
integration, the business account systems in Vietnam must also be consistent

with the general practices of other countries.
2.1.2. Legal framework and regulations on business accounting
Accounting is not pure science but in social science of economic
management. As a rule engine management system, accounting is governed
by many factors such as economic conditions, socio-cultural, political and
law of each country over time the bear. Beside, systems governed by general
law, accounting also requires its own rules. To organize and manage the
accounting law firms, the country has the legal documents and form the legal
framework and the accounting rules that businesses must follow the rule of
law. Law and accounting regulations are uniform system of accounting
documents, governing the organization and execution of the business
accounting including regulations promulgated by the State nature laws and
regulations are not issued by the State (possibly due to the organization of

the accounting profession and the audit committee. At the national laws and
regulations applicable to accounting firms including: (i) the Accounting
Law, (ii) Guidelines for implementation of the Law on Accounting, (iii)
Accounting Standards (iv) corporate accounting system, (v) The provisions
of the securities market....
Thus, to ensure corporate compliance with laws and regulations on
accounting and technical design of business systems to be studied, in order
to build classification and systematization of all economic transactions
student to provide sufficient information for businesses and other
organizations and individuals as required by law and the rules of law
designed. Suffering and the accounting regulations of the different countries
each of the issuing agency, the scope of the State to issue regulations
consistent and allows businesses to actively and flexibly. This is an really
important practice which is needed to consider to research and apply in
manufacturing – operartion businesses in Vietnam.
2.2. Account and account system in manufacturing - operation business

2.2.1. Account
Accounting formation and development are associated with the
formation and development of the economy producing goods economy. The
formation of accounting is essential objective of producing economic goods.
To carry out the functions and duties of his accounting system uses a
scientific approach to the acquisition process and provide information on the
properties and movement of assets in the enterprise , thereby monitoring the
entire property and the financial and economic activities in the enterprise.
One such method is the method known as technical design methodology for
application and account-specific forms of manifestation of this approach is
the technical design.
Through the account system is the method which classifies, codifies to
reflect the arising transactions incurred by each subject in specific accout
book keeping.
2.2.2. The system of account in manufacturing – operarion business
The account system is the list of accounts used in accounting to reflect
the entire property, assets and resources to form their movements during the
production activities of the enterprise to as a basis for preparing and
presenting financial statements to meet the requirements of all objects used
by the accounting information provided.
The account system is the important content in the process of
implementing the accounting of business enterprises. Therefore, technical
design and technical design of business systems is of great significance in


the economic and financial management in general as well as in the
accounting of each particular business. Specifically:
- Account and account system are enable accountants in business can
categorize and systematize information about the property, assets and
resources formed the financial and economic activities in the service of

business management of the State, and of each of the business sectors.
Through the technical design and methodology notes, reflecting the financial
transactions incurred on the technical design that managers can capture the
economic and financial information, as a basis for decision- the economic
and efficient administration and management.
- Account and account system are enable the system of specific information
and details about the property and the movement of assets in the enterprise
for business requirements management, requirements management hierarchy
economic management in the enterprise, as well as asset management
requirements in the enterprise.
- Accounts and account system help to systematize data on economic
indicators, to establish the financial periodic reports required by financial
accounting and management accounting.
2.2.3. Principles, requirements and reflected contents of the system of
accounts in manufacturing – operation business
The completed study system account system applied in businesses in
Vietnam is urgently needed. On the basis of studying the impact of the
technical design of the system to the needs of the users information needs of
management objects for system technical design, factors affecting
construction activities technical design system applied for now, the author
proposed guidelines, the study required to complete the technical design of
enterprise business systems as follows:
2.2.3.1. Principles of building accounts in manufacturing - operation
business
To perform the role of information classification and provides
information on assets, capital and economic activity generated in the finance
business, process research, development and technical design of the system
shall complete for business enterprises must be based on the basic principles,
including:
(1) Comprehensive Principles

This principle requires technical design of enterprise systems have
adequate quantity of account, account group and the number of levels in
each group account; accounting principles in each group account and
account; structure and content and reflect the accounting method primarily
economic transactions. Since it can implement the classification system of

all economic transactions arising in the business to ensure the provision of
reliable information, sufficient for all subjects to use different purposes.
(2) Principles of compliance
The completed study of account system has to ensure compliance with
laws and regulations, including accounting Accounting Law, the documents
guiding the implementation of the Law on Accounting, VAS. In particular,
there must be adequate guidelines for technical design use accounting
methods to guide implementation of VAS. In addition, the technical design
of the system must be adequate for the specific content and the content
reflects the method of accounting transactions arising in each technical
design to ensure compliance with business regulations and economic
policies, financial, tax related, ensuring the truthfulness and objectivity of
the information provided.
(3) Principles of flexibility
Business account systems to suit every type of business, economic
groups, to suit each industry and specific business sectors, in line with the
economic development level of each country and match with each stage of
economic development and management in each country.
(4) The principle of integration and development
Accounting is one of the important tools of the state to manage the
economy. The economic information, financial business enterprises provide
not only for domestic use but also be used for objects outside the territory of
the trend of international economic integration, with operations growing
business diversity, interleaving regional and global. Therefore, the technical

design of business systems to better serve the economic reforms of each
country.
This principle requires the complete study system technical design
business enterprises must be based on research, study, absorb, selectively
applying international practices and experiences of other countries in
accordance with conditions of Vietnam.
2.2.3.2. Requirements for building a system of accounts in
manufacturing – operation business
To adhere to the principles of research and development to perfect the
business account system as mentioned above, set out the requirements to
make the research process complete technical design enterprise business
systems as follows:
(1) To ensure consistency
According to the requirements needed to study and build the State
issued a account system to apply to all firms within each country. The
enactment of a system of uniform business account system will create more


favorable for both research institutions, both issued and when implemented.
From that overcome limitations due to overly complex, difficult to
implement if the Government has enacted many account system for
enterprises in general and for each specific business area or for each scale,
types of businesses.
(2) Ensure the "open"
The system must be built on technical design and adapt open for
business, the economic process will arise in the future, to ensure compliance
when both applications are feasible in practice to meet the need to provide
economic and financial information fully, honestly and promptly serve
effectively for the management and operations of the business enterprise
itself as well as for all objects in need using information outside the

enterprise.
In addition, the business account systems has to be suitable with the
level of economic development and international recognition. The
construction of enterprise business systems technical design must take into
account the role of the State to ensure the State's management of accounting
must take into account the impact on all the aspects: knowledge, people and
procedures administrative and management practices and especially not in
accordance with the management, and information technology to be feasible
in practice.
2.2.3.3. Contents of account system applied in manufacturing –
operation business
To meet the rules and requirements as stated above, technical business
account systems must include the following basic contents:
(i) The list of account, account groups need to be clearly defined state to the
uniform application and content enables enterprises to be proactive, flexible
and self-responsibility.
(ii) For each type account, account groups need clearly defined content
reflects, accounting principles, structure and methods of accounting
transactions arising mainly economic and relationship with the financial
statements and reports administrator.
(iii) The provisions of account and account groups should be specified by
the State to perform the legal basis for the corporate uniform. The opening
of the technical design of technical design and content of each enterprise
should actively and flexibly to suit the construction business characteristics
and management requirements.
With the aim to contribute to research and build completed account
system applied in enterprises in Vietnam determine consistency and enhance
the autonomy, flexibility for business, while providing the perfect solution to

overcome the limitations of the technical design of business systems in

accordance with current needs research, surveys, international rules in order
to draw lessons for Vietnam.
2.3. Experience for developing and perfecting the system of accounts of
manufacturing - operation business – around the world and applied
lessons for businesses in Vietnam
2.3.1. The experience of countries in the world
Legal framework and regulations, including accounting system of
national enterprise technical design is influenced by economic factors,
cultural and social. In particular, the factors most clearly influenced the
design model legislation, tax system and stock market. These factors may
affect different levels to make up the diversity of the legal framework and
the rules of business accounting.
The legal system of this country is built on two schools: School of
Roman Law (Roman Law) and Law schools Chung (Common Law). In the
Anglo - Saxon, including the U.S., UK, ... the legal system established by
Public Law model. Accordingly, the tax system does not have much
influence accounting. The stock market is the most powerful influence of
laws and regulations on corporate accounting. In other countries, the legal
system is set up in the model of Roman law, such as Japan, France,
Germany, ... Accordingly, the tax system has a profound effect on the
accounting and stock market have little effect to business accounting.
The completed account system of business systems first need to consider the
experience of conducting research, building the framework of the law and
the rules of business accounting (including account system) of the specific
country. To draw lessons from the experiences of countries around the world
to study and completed business account systems to suit the conditions of
Vietnam, to the general study of building research framework laws and
accounting rules, including the technical design of the water system in the
world and the developed countries or have many similarities with the
political economy of Vietnam (such as the U.S., France, China ).

2.3.2 . Lessons applied to Vietnam
Through the study of the legal framework and accounting regulations ,
which focus on business account system systems of countries around the
world can draw some lessons for Vietnam in the study completed technical
design system applied in business as follows :
Firslyt, fully aware of the need to improve the system studied account
system of existing business . Due to the quality of financial information is
fully reflected , timely , clear , reliable financial statements through the
system and management reports to meet the requirements of financial


accounting and management accounting purpose end of the State and
towards business . To improve the quality of financial information , one of
the things to do is to study and completed business account systems.
Seconldly, accounting is a global issue now, so when studying
technical design complete systems of national businesses to consider in
relation to the whole framework of laws and regulations designed
accounting standpoint and legacy integration advantages of the current
provisions in the roadmap accordingly. On the other hand , an enterprise
accounting system , including account systems , often associated with a
certain economic system and influenced by economic institutions , national
politics . So the research process and complete technical design business
systems to ensure both integration , consistent with moderate operating
characteristics of business and in accordance with the characteristics and
level of economic development of each country . At the same time to study
and complete the technical design of the system with the legal framework
and accounting regulations .
Thirdly, the system needs to improve accounts toward building a
unified system of accounting , ensuring the " closed " and " open " , also
known as ensure consistency and promote the autonomy and selfresponsibility of corporate responsibility . In the " closed " to define the

scope of state regulation uniform of accounts , accounts and team principles
and methods of accounting transactions primarily facilitate instruction and
training; for inspection , testing , auditing and management accounting State
. At the same time, the legal basis for all business has been done uniformly .
This is in accordance with the conditions and the accounting and
management of Vietnam today . In the " open " , because business practices
are diverse , constantly evolving , constantly updated VAS completed in all
countries , so to reduce the work detailed instructions , in particular , often
State must do regularly to avoid the situation of a system of national
technical design for each business area , business account systems to
improve towards the initiative enables businesses to design and implement
appropriate the characteristics of the business. Should clearly identify the
contents related to the technical design of the system is now active on the
basis of VAS and related regulations. For this , it is necessary theoretical
studies, international practices and surveys, assessment systems technical
design practical application in business in Vietnam to view and propose
solutions to fit perfect.
Conclusion Chapter 2
Accounting formation and development associated with the formation
and development of the economy producing goods. The formation of the

necessary accounting and economic necessity of producing goods. In
particular, accounts and business accounts systems is an important part of
the accounting system.
On the basis of the theoretical content of the basic business account
systems, and an overview of the experience of the world in order to draw
lessons for Vietnam. These principles, requirements and content when
building enterprise systems technical design oriented basic research to
applied reality technical design enterprise business systems currently in
Vietnam to provide perspectives and solutions complete technical design of

the current system used in business enterprises in Vietnam.
Chapter 3

The findings of researching about the account system used in
manufacturing – operation businesses in Vietnam
3.1 . The process of formation and development of the system of
accounts appliced in manufacturing - operation business in Vietnam
As a basis for standardized reporting processes information in the
enterprise , to increase the usefulness of accounting information for the users
, business account system in Vietnam has gradually be improved to suit
requirements , tasks and management mechanisms Vietnam economy in
each period ( stage ) development of the country .
Through the various stages of development of the economy ,
accounting systems account manufacturing enterprises - in particular
business and accounting regulations in Vietnam in general has experienced
significant growth . The process of formation and development of business
systems technical design business in Vietnam can be generalized in three
stages : Stage from 1954 to 1995 , the period from 1995 to 3/ 2006 and the
period from January 3/2006 to present.
3.2 . Condition of the system of accounts applied in the manufacturing –
operation business in Vietnam
According to the regulations of Vietnam accounting regime applicable
, the business - business production depending on size and ownership
characteristics can apply the system of accounts Decision 15/2006 dated
20/03/2006 issued " enterprise Accounting System " ( as amended and
supplemented by Circular No. 244/2009 - dated 31/12/2009 ) and Decision
48/2006 - dated 14/9/2006 issued " Accounting System small and Medium
Enterprises " ( as amended and supplemented by Circular No. 138/2011 dated 4/10/2011 ) Minister of Finance . The technical design study mode
current (issued by the Decision 15/2006 and Decision 48/2006 and circulars
, additional related ) along with the survey of 105 businesses in the situation



of applying accounting system account existing business in Vietnam has
shown many shortcomings , which requires agencies to soon to complete
research and development a system of accounts applicable to the production
enterprises - business , meet the requirements of economic development ,
strengthening the autonomy and creativity of business . Can generalize the
results of the survey on the back : On manipulate objects ; On the number ,
code and account name ; On the ability to provide information ; On
reflection contents ; Regarding the ability to apply , On the flexibility of the
system account
The cause of the drawbacks
Firslyt, each business enterprises of all economic sectors have
different specific characteristics of management systems , to provide the
information requested in the marketplace . So , how to manage and control
the level of information relating to economic activity - financial enterprises
also have significant differences . Although businesses Balance , namely
technical design system , issued by the Ministry of Finance has
differentiated business activities sector , by size of business capital but the
use is seen as cumbersome and less effective . The reason is that the State
has issued regulations and account system too rigid in the application ,
which poses considerable difficulty for businesses to use .
Secondly, the guidance , inspection and control of the professional
bodies concerned , as well as professional associations have not been regular
and timely .
Enterprise accounting system of Vietnam, including account system is
in the process of finishing. Many new issues arise in business practices
required needs to be additional , improved to meet the requirements of the
management and provision of information . However, the specific guidance
documents on accounting regulatory bodies of the State but has not yet

timely and specific .
Thirdly, the business enterprises in Vietnam are included strong
growth in recent years , awareness of the accounting and business advocacy
organization in the technical design of the system provides information for
demand management is limited . Moreover, in most enterprises lack an
internal control system should be implemented in the method of accounting
system technical design without testing , routine control . This leads to more
information are provided on incorrect financial statements in accordance
with the relevant VAS .
Conclusion Chapter 3
Since the '70s, along with the development of economy, technical
design system has been issued and continues to be amended and

supplemented in accordance with the complete Law and Accounting
Vietnam Vietnam VAS system.
From the survey (survey through direct votes and surveys) and
analysis of the current status of application of business account system on
the second business perspective is defined by the State and in the practical
application of enterprise so that, given the authors evaluate the feasibility of
the system promulgated laws of the State of accounting and evaluate the
effectiveness of the actual implementation of that policy in the business. On
a theoretical basis in the reality of chapters 2 and 3, the thesis provides some
solutions to develop basic account system shall be applied in the business in
Vietnam.
Chapter 4

Discussion about research findings and recommendation for
solutions to improve the current account system used in
manufacturing – operation businesses in Vietnam
4.1 . Discussion about findings of the current account system used in

manufacturing - operation business in Vietnam
4.1.1 . The regulation of accounting system
Business account system under Decision No. 15/2006 was basically to
ensure conformity with the requirements and characteristics of the economy
and our country , in accordance with the financial mechanism to ensure
connection rational mechanism between financial management tools in the
national economy . Since then, facilitate training , instruction , testing ,
inspection , audit and implementation of the accounting practice of state
agencies and businesses .
Business account system existing now Vietnam , qualified
accountants in our country has been raised to a step- down approach to
international accounting , practices , accounting principles of the common
market economy has been studied and applied gradually .
Although the system has current enterprise technical design to meet
the financial management needs of businesses opening period but the
economy is still very limited , need to continue to build and improve .
4.1.2 . The application of the system of accounts in business
Actual Survey results show that business account systems managed by
the Ministry of Finance meets requirements of business management at the
overall level . Most businesses need to monitor in detail the accounting
object depending on the requirements of each business management , so that
they will open more account details . There are many businesses fail to


fulfill the economic content of accounts prescribed . In some parts of
accounting , some transactions arising in a number of accounts are confused
and inconsistent among enterprises .
Experts Survey results also show that the majority of accounting
professionals in small and medium enterprises suggest that the Ministry of
Finance should issue a single account system . Because small and medium

enterprises in Vietnam accounted for a large proportion ( only at registered
businesses , the rate is above 95 % ) . Therefore, their contribution to total
output and employment is significant . In most economies , small and
medium enterprises as subcontractors for larger firms , the industry and
critical support services . Therefore, in the near future , making small and
medium-sized enterprises active in the stock market is a necessity .
Based on the status of account system applied inmany different
business sectors has revealed the inadequacies , weaknesses, which needs to
be tackled , and to complete the account system in the direction of open ,
flexible activities , adapted for businesses of all business sectors , under all
forms of ownership , capital to bring the highest efficiency in the operation
of accounting information systems . Doing this in order to meet the
development requirements management market economy with socialist
orientation participation of State management , accelerate the process of
economic integration ( including integration of information design math ) ,
consistent with the policy , economic policy of the Party and State .
4.1.3 .The completion view and building account system in new
manufacturering - operation business
The fact that accounting is the common language in all business
activities, and playing an impoetant role in recent conditition, it is necessary
to promote international integration of Vietnam 's accounting , the
determination the proper perspective is a complete non-issue as important .
The completion of the technical design of the system in the enterprise
application business will be done in the following directions : Viewpoints
bequest mandatory viewpoint and flexibly apply dund ; view integration and
development , provides perspective information .
4.2 . Solutions to build and perfect the system of account applied in the
manufacturing - operation in Vietnam
In the third chapter , the author evaluates the advantages and
drawbacks of the existing system of business account system in Vietnam .

From this situation , the current system will be studied and completed by the
following specific solutions , but only limited accounts applied in the current
system in business in Vietnam .

Basis to build and improve the technical design of the system applied
to the enterprise 's business Accounting Law ( 2003 ) , VAS , IAS , Balance
business , in the process economic integration in the region and the world ,
to the development of market economy in Vietnam and in the future. In fact ,
all 26 VAS issued in 5 waves from 1999 to 2001 are based on IAS . So far ,
the IAS has been supplemented , amended and promulgated the new VAS .
In recent years many important changes in the accounting and financial
statements , the organization issued IAS is trying to harmonize accounting
principles recognized by the USGAAP and up and IFRS . European Union
requires all listed companies are members of the EU countries to adopt IFRS
before 2005 and many countries issued IAS closer to IFRS .
With the aim of improving the system of technical design practices in
accordance with business before the business trend of international
economic integration , the solution that the authors propose the following
thesis is based on the view : State build a system of accounts agreed to be "
open " on the basis of VAS , in which only includes the types and account
groups , along with general guidelines for the content reflects , businesses
are allowed to take the initiative construction, selection , add the account
level ( level 1 , level 2 , ... ) such that match specific business activities and
management requirements of their units on the basis of compliance the
general regulations of the regime and accounting standards . Technical
Design System is applicable to all enterprises of all forms of ownership , all
sizes , all areas of business .
4.3 . Conditions to complete current account system applied in the
manufacturing - operation business in Vietnam
4.3.1 . On the side of the Government and Government agencies

The Government , the entire function manage the national economy
through economic policy , macro- financial system of the State and other
regulatory policies , especially the design management of the State auditing ,
to create and perfect the legal framework of economic , financial , tax and
accounting practices consistent with , international standards and conditions
of Vietnam in the trend of economic integration international . The process
of improving the law in finance, taxes and regulations related to financial
statement preparation and presentation will set out guidelines require timely
accounting to ensure corporate compliance .
4.3.2 . On the side of enterprises
As the regulatory environment of accounting and other conditions of
the policy has been amended and supplemented , complete the remaining
issues to better organize accounting work in the business of the enterprise
itself each business .


Conclusion Chapter 4
To meet the new regulatory requirements of the market economy and
socialist-oriented requirements of international economic integration ,
should be established and put into operation in the national economy, a joint
business account system professional with appropriate economic policies social , consistent with the level of economic development of our country
and in accordance with the principles , standards and common practices of
international accounting . In particular , the study of theory and practice to
produce solutions to improve account system applied in enterprises in
Vietnam 's business requirements and current objective .
For the above reasons , in this chapter 4 , on the basis of theoretical
and practical evaluation of current business account system , the author
makes the point and basic solutions to current account system applied in
business in Vietnam . At the same time, analyze the conditions for the
implementation of system solutions complete the account system applied in

business in Vietnam . The complete solution in the direction of the Ministry
of Finance proposed regulations unified account system , account and group
method of accounting transactions primarily in the account group to apply to
all businesses, Expanding autonomy for enterprises in the construction and
opening of the account details , place code and the account name in the list
of accounts details have been issued .
GENERAL CONCLUSION
Vietnam is in the process of building mechanisms socialist-oriented
market, with open economic policy, which attracts foreign investment and
gradual integration with the world economy. The mechanism of this new
economic management, in order to survive and develop the business,
investors, managers, ... need to make decisions quickly, economically and
correctly. The economic and administrative decisions can be made only on
the basis of the reliable economic information (including realistic
information and forecast information). Information provided by the book
keeping operation, accounting’s collecting, synthesis, processing and
providing is actual, comprehensive and highly reliable. That information
includes the information of assets and the financial and economic activities
in the units, which are served for leaders and financial managers of the
Government, Industries, and each enterprise. This information is codified
through business account system.
Account System used in business accounting reflects assets and
estblishment resources of assets and their movements during the production
activities of enterprises, in order to provide the data for setting up financial
statements which meet the requirements of usuers. With this meaning, It is

necessary to research to help to improve account system applied in
businesses in all types of business, all scales of business, to contribute to
improve the legal environment for accounting in market economic socialist
oriented and in accordance the macro-management requirements of the

Government and enterprises in Vietnam. This contributes to be transparent
and publicize of financial condition, business situation of enterprises,
enhance competitiveness and promote economic integration process.
Based on the application of research methods, thesis has made the
following findings of theoretical as well as practical:
First of all, the thesis is a systematic view of researchers, mainly
focused on the improvement of a number of technical design, reflected in the
content of the current account perspective in the application of specific
business accounting system. The research has proposed many valuable
recommendations and appreciatively practical theory, but not stood on a
macro as well as micro perspective to create the revolutionary change in the
completion process of account system applied in businesses in Vietnam in
accordance with the practices of developed countries. Since then, It is
necesssary to continue to research to provide basic and comprehensive
solutions to Governemt agencies, experts in accounting field, especially
businesses to consider for improving current account system appled in
enterprises.
Secondly, the thesis has codified the basic theory of accoynt system
and accounting system in businesses. On the basis of analysis, clarify the
impact of this system to the demands of the users, managers, affected
impacts. The thesis analyzed the principles, requirements and contents to
improve business account system. This is a basic orientation to study the
current account system applied in current enterprise to provide views and
solutions to improve the account system used in the manufacturing operation business.
Thirdly, from the survey and situation analysis of business account
system, we can consider this matter in two sides: the legal framework and
actual implementation of the businesses. The thesis analyzed, evaluated the
status of the current account system, indicated advantages, limitations. This
is a factual basis for the thesis to provide some basic solutions improve the
account system used in the manufacturing - operation business.

Finally, on the basis of theoretical studies, assessment practices, to meet new
regulatory requirements of the socialist-oriented market economy
international economic integration, narrowing the differences in accounting
between countries, different regions, creating a common voice in
accounting, has launched the thesis point and basic solutions to improve


technical design system applied to the enterprise business in Vietnam in the
Specific content such: Proposal for State design and build agreement on the
technical design of the system of account, account and group method of
accounting transactions primarily in the account group to apply to all
businesses, Expanding autonomy for enterprises in the construction and
opening of the account details, place code and the account name in the list of
technical design details have been issued.
The thesis mentioned, solved problems to improve actually. In which
the defining issues that the Ministry of Finance should immediately guide to
help information transparency in the financial statements. Due to wide range
of study, it’s necessary need to implement step by step, so it has some
drawbacks. The author considers this thesis as the initial study and expects
to receive many more indications of scientists, physicians, lecturers,
administrators, and other professionals dedicated to the field to improve and
develop this research .