Internal management errors cause difficulties for enterprises to settle final accounts
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Internal management errors cause difficulties for enterprises to settle final accounts. |
Recently, the General Department of Vietnam Customs in cooperation with Binh Duong Customs Department and some enterprises have implemented a partnership program about the final accounts settlement of production of exported goods at Binh Duong Customs Department’s headquarters. According to Mr. Tran Van Trang – Head of Division of Customs Reform and Modernization Board, the partnership program about the final accounts settlement of production could help enterprises evaluate the actual implementation of new legal provisions about production of exported goods, and gain experience in settlement of final accounts settlement. Through this program, the participants could discover many problems both in procedures and the internal management of enterprises.
Currently, the provisions of the law have left the notification procedures, adjusted production of exported goods, notification of raw materials, supplies and stocks of exported products. Enterprises which are responsible for the use of materials and supplies in the production process must report on the principle of general account of input – output- inventory to the customs authorities as prescribed. The customs office which implemented the management of materials on the basis of general account of input – output- inventory conducted tax refund, not collecting tax revenue paid by enterprises. The changes in how to implement and manage this method will facilitate enterprises with better management than before through the strengthening of the cooperation between internal departments and enterprises but also require enterprises to be more law-abiding. Also, the customs authorities should adjust the management methods to create favorable conditions for the operation of enterprises and ensure the state management of customs effectively. Through consultation, the customs authorities and enterprises have identified the problems arising on the process and procedures as well as inadequacies in the internal management of enterprises.
For example, Vietnam VARIVAS Ltd company had domestic sources of raw materials and imported raw materials with the same code declaration. Therefore, when conducting final accounts settlement, this company faces problems in the process of separation of domestic sources of raw materials and imported raw materials. Besides, the code and name among raw materials of import-export, warehouse and business final accounts were also inconsistent. Specifically, with the items hooks, the division of import-export just tracked a raw material - the hook, but warehouse inventory division tracked type of hooks in detail. Therefore, the uniformity of data between divisions is difficult and takes a lot of time.
Shortcomings in the management of raw materials among the divisions of companies have caused difficulties in the collection of data from the divisions. Therefore, in order to implement the final accounts settlement, enterprises need to collect data from three related divisions: Import-export division; accounting division; division of warehouse, production management. In particular, the division which is responsible for final accounts settlement is assigned by business leaders. However, the monitoring data in the divisions to conduct the final accounts settlement encounters problems such as the accounting division in tracking materials data; division of warehouse, production management in tracking number, not materials. Import-export division is in charge of customs procedures (declarations, liquidity, final accounts) and collects documents, data for financial reports, taking a lot of time to set up the data from various sources.
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According to Mr. Tran Van Trang, problems and shortcomings in internal management of enterprises have been early detected through consultation between customs authorities and enterprises. Enterprises have identified ways to manage materials in a scientific way, division of import-export has declared code of raw materials seperately and regularly reconcile with the accounting division. Also, enterprises should hold consultations with company leaders on methods of internal management, which involves the coordination of divisions, storage, data management, construction management software. Besides, the results of the partnership program have helped the General Department of Vietnam Customs hold conferences to discuss experiences and measures to overcome the problems on implementation of final accounts and internal management to meet new regulations. Also, the General Department of Vietnam Customs should consider guiding enterprises importing raw materials for production export, from which the customs authorities have the legal basis to check, because current accounting regulations do not compel companies to track privately.
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