VIETNAM NATIONAL UNIVERSITY, HANOI
INTERNATIONAL SCHOOL
***
GRADUATE INTERNSHIP REPORT
INTERNSHIP COMPANY/INSTITUTION: PVcomBank
Address: 22 Ngo Quyen Street, Hoan Kiem District, Hanoi.
Supervisor: Mr Pham Duc Cuong
Student’s full name: Le Ngoc Dung
Student’s ID: 11071225
Major: International Business
Class: IB2012B
Hanoi, 10 March,2016
2
ACKNOWLEDGEMENTS
The Graduation Internship Report is an important part in my five-year course at
university. In the implementation of my report, I have received a lot of kind
assistance and professional support from many people who helped me accomplish
this study. It is a pleasure to convey my deepest gratitude to them.
First of all, I would like to express my deepest thank to the leadership of
PVcomBANK and staff of the faculties who have wholeheartedly created good
conditions for me to have a professional internship position. Without their help, I
could not have become I am today. Especially, I would like to thank all members in
Vietnam Mass Joint Stock Commercial Bank - PVcomBank as well as coworkers in
all departments who have completely supported me during my internship time at the
company
.
Secondly, I would like to send my deep and sincere gratitude to Mr. Pham Duc
Cuong – my advisor for his wide knowledge, valuable supervision, heartfelt
guidance and enthusiasm that provided a good basis for the report. He is the person
who made clear my confusion of initial ideas, step by step guiding me during my
writing the report. I own him a debt of gratitude that cannot be measured.
Thirdly, I should also express my thanks to my family and my friends for their
support, encouragement and patience during the implementation period of this
internship report.
Although I have made careful researches about the topic, mistakes may appear
here and there through this report. Therefore, I am looking forward to receiving
comments from all my teachers and friends.
I sincerely thank you!
Hanoi, March 10, 2016
Student
Le Ngoc Dung
3
TABLE OF CONTENT.
CHAPTER 1: The overview of pvcombank
1.1. Establishment History
1.2. Functions, tasks and organizational structure
1.3. The structure of the management apparatus of the Vietnam Mass Joint Stock
Commercial Bank
1.4. Operation Resulf in period of 2013 -2015
CHAPTER 2: Business Production Operation Of Pvcombank
2.1. Overview of business production operations
2.2. In-depth analysis: organization of accounting in pvcombank
2.3. Reality review accounting organizations working in stock commercial bank
public vietnam
CHAPTER 3: Details of internship
3.1 Ojectives
3.2. Practical Skills
CHAP 4: Achivements
4.1. Theoretical knowledge
4.2. Practical experiences
4.3. Contributions
4.4. Assumptions and Solving methods in future
4
CHAPTER 1: THE OVERVIEW OF PVCOMBANK
1.1.
Establishment History
Being established under Decision No. 279 / GP-NHNN dated 09/16/2013 of
the State Bank of Vietnam on the basis of consolidated Financial Corporation
Shares Petro Vietnam (PVFC) and Joint Stock Commercial Bank for the
West (Western Bank - WTB).
Vietnam Petroleum Finance corporation has precursor of Petroleum Finance
Company - is a member of 100% state capital of the National Oil and Gas
Group of Vietnam.
PVC officially put into operation in the form of company shares from March
18, 2008.
PVcomBank has total assets reached nearly 100,000 billions VND, 108
outlets in the major cities across the country, high- quality human resources,
diverse products and services.
5
Company's name:
•
Vietnamese Full name: Vietnam Mass Joint Stock Commercial Bank
•
The name in English: Vietnam Public Bank
•
Short name: PVcomBank
Address: 22 Ngo Quyen - Hoan Kiem - Hanoi
Phone: (04) .3.9.426.800
Fax: (04) .3.9.426.796 - (04) .3.9.426.797
Primary services:
•
Mobilizing and receiving short term, medium term and long term from
organizations and individual.
•
Carrying out foreign currency transactions; services, international trade
financing; discount commercial paper, bonds...
•
Providing payment services and other banking services allowed by the State
Bank...
1.2. Functions, tasks and organizational structure
1.2.1 Functions and duties of VietNam Mass Commercial Joint Stock Bank
Mobilizing capital:
•
Receive term deposits, term deposits, savings deposits and other deposits;
•
Issuance of certificates of deposit, bonds, treasury bills and bonds to raise
funds in the country and abroad;
•
Borrowings from banks, financial institutions in the country and abroad in
accordance with law and the guidance of the State Bank of Vietnam.
Opening an account:
•
Open an account at the State Bank and maintain deposit accounts in the
average balance not less than the reserve requirement;
•
Opening accounts at other credit payments;
6
•
Opening of deposit accounts, payment accounts abroad under the provisions
of law on foreign exchange;
•
Opening accounts for customer payments;
•
Providing the means of payment;
•
Organizing and participating in payment systems
•
Providing payment services: Perform domestic payment services including
checks, payment orders, authorizations, collections, entrusted with the
collection, letters of credit, bank cards, collection services and payment ;
•
Implementing of the international payment services.
Providing credit in the forms:
•
Loan;
•
Discounting, re-discounting of negotiable instruments and other valuable
papers;
•
Bank guarantee;
•
Guarantees domestic payment, international factoring.
Investing and advicing:
•
Contribution of capital to purchase shares under the provisions of law and
the guidance of the State Bank of Vietnam;
•
Corporate Finance Advisory, consulting purchase, consolidation, merger and
investment advice;
•
Buying and selling government bonds, corporate bonds.
1.2.2. Characteristics of customers:
Customers have a great influence on the quality of service that is the success
factor for business operations of PVcomBank.
Customers are classified as follows:
•
Large Business Customers: as the Corporate Banking revenue of the
preceding year on 50 million.
7
•
Client Enterprise is the small and medium enterprise with the preceding year
revenue from 01 to 50 million.
•
Personal Banking: as individuals, individual business households, micro
enterprises had revenue of the preceding year less than 01 million.
•
Financial Institutions: as financial intermediaries, including credit
institutions, securities companies, insurance companies, fund management
companies, investment funds and other forms prescribed by law.
•
Organization of public finance: as the agencies, units, organizations under
Government / non-governmental domestic and international implementation
of public finance activities.
1.3. The structure of the management apparatus of the Vietnam Mass Joint
Stock Commercial Bank
8
Leadership is responsible for the daily operations of PVcomBank. Leadership
includes General Director and Deputy General Director and Director of the
blocks.
Head of Business Development department includes 7 parts business serves
directly at the head.
Business Support Group - Management Division: work and application of
information technology; training in order to constantly improve the quality of
personnel; market development activities to consider offering new products,
9
competition in the financial markets; Develop a financial plan, synthetic
records data on accounting, settlement and reporting.
The branch and the member division: including 108 outlets concentrated in the
North, Central, South and 4 member companies.
1.4 operation result in period of 2013 -2015
On investment, the balance of investment securities and long-term
investment capital contribution increased 10 689 billion in 2014 compared to 2013,
mainly due to bond investors and investment state bank bills. The portfolio structure
is then consolidated banks continue to implement and achieve the transfer value of
934 billion shares worth investment projects.
PVcomBank has drastically restructured asset portfolio, particularly the
portfolio through the sale of a large stake, payback ... to the accounting balance
sheet and healthy.
Figure 1.4: Business operation result in 2013 – 2015 of PVcomBank
No.
Criteria
1
Total assets
101,124,283,703 97,542,194,809
97,624,127,284
2
Total equity
9,555,807,886
9,693,981,496
9,453,996,121
3
Total debt
98,997,675
98,092,737
88,935,714
4
total deposit
102,983,114
101,911,737
98,779,340
5
Total loans
47,755,275,389
46,464,077,92
41,614,718,862
6
Profit before
-33,659,621
162,232,686
140,664,873
tax
2013
2014
2015
10
7
Bad debt
1,279,223,542
1,439,564,887
1,190,552,414
8
Stock
14,258,831,994
25,884,397,436
23,667,229,56
9
investment
Revenue
1,636,154,169
6,904,576,117
5,787,399,232
10
Number of
2289
2750
2815
labor
Revenue: In 2013, total revenue was 1,637 billions VND and it increases fast
and strong to 6,904 billions VND in 2014, the reason is that the bank has
clear investment strategy focusing on developing different sectors,
competitive advantages and good profitability.
Debt: the number of debt in PvcomBank still maintains at approximately 99
millions VND, it means that the bank always balances every business sector,
does not exceed the permitted level.
Bank assets totaled approximately 100 trillion, profits exceeded 5%
compared to shareholders proposed plan, the adequacy ratio were achieved
under the provisions and bad debt is controlled in accordance with the
restructuring schedule.
Chapter 2: Business production operation of PVcomBank
2.1. Overview of business production operations
2.1.1. Mission and strategy
Implementing the development strategy of the Bank in accordance
with the plan;
Continuing to improve information technology systems; system
stable, healthy development of the Bank, sustainable, better control of
risk; promoting deposit mobilization;
11
Controling credit growth driven by the SBV; strengthen capital
operation arrangements; focus on training and development of high
quality human resources;
Building the image of a bank close, friendly, motivated because of the
success of customers.
2.1.2. Business production operations
Marketing:
PVcomBank has invested and deployed T24 core banking system and large
key projects in the process of modernizing the information technology base period
2013-2015. The Bank has operated safely, stable information technology system,
responsive to business requirements, support and development of products and
services, continue to improve the enhanced stability and improved infrastructure
information technology available to create a platform to develop new products,
improve the quality of customer service.
Expanding and developing the network:
PVcombank has launched a series of new branches in the provinces of Thai
Binh, Nghe An, Quang Ninh, Khanh Hoa, Dong Thap, Long An, Tay Ninh,
HCM ..,bringing the number of transaction points to 110 points in the bank
PVCOM with 28 major provinces of the country. Besides, the bank carried out
the relocation, optimize network operations, and complete infrastructure
upgrade for many branches across the system. It was a bright spot in a year,
contributing to the strength of the bank in raising competitiveness in the
acceleration phase of development.
Human resources:
With over 2,000 employees, the bank has issued PVCOM wage policy, to
ensure internal equity and competitive with market salaries ground, regular
12
inspection and recruit people with expertise. Remuneration for workers is
concerned, guaranteed. The training, improve the quality of human resources
are focused, the arts and cultural activities and sports are well maintained,
creating a friendly working environment, solidarity.
Investment:
Promoting investment banks government bonds to ensure liquidity and
reserve adequacy ratio, always keep abreast of market developments in
order to transfer some of the shares profitability to good liquidity, reducing
the cost of capital by structuring the investments do not meet profit
expectations.
Services:
PVcombank promote activities card services, electronic banking, investment
and perfect technology support system for business cards. Arrange funding
for the project of Vietnam Oil and Gas Corporation, actively seeking
partnerships and new projects. Improve and develop services that meet
customer needs.
Business management:
PVcombank has considered the role of accounting in business management.
The application of the system of accounting vouchers, accounting account
system, the system of accounting books and financial reporting system
approved under the accounting system of credit institutions. When there is a
change, additional accounting system written circulars guidance,
PVcomBank are updated and applied in a timely manner.
2.2. In-depth analysis: organization of accounting in pvcombank
2.2.1 The organization of the accounting
In PVcomBank, Finance and Accounting Division are under the supervision and
management directly by the Director General. Division was formed on the basis of
13
combining the two Board of Planning and Accounting: Accounting Committee and
Planning Committee for a total of over 75 staff across the system, including:
Head of: 01 comrade.
Vice block: 02 comrades (01 Deputy in charge of planning blocks and
Chief Accountant in charge of accounting).
Parts of the plan: 29 officers.
Accounting Division headquarters: 35 personnel.
Parts of southern accounting: 11 officials.
An accountant number on the system is located at the branch.
14
Models accounting apparatus:
FINANCIAL ACCOUNTING
DEPARTMENT
Planning
department
Customer
department
manageme
nt and
basic
constructio
n
department
management
and
investment
department
budget and
norms
department
equipment
investment
&
managemen
t
equipment
investment
&
management
Asset
management &
Debt
department
accounting
balance
sheet
department
General
accounting
department
Internal
accouting
department
reporting
under law
department
business
accounting
department
capitalizati
on policies
department
manageme
nt
reporting
departmen
t
budget
accounting
department
economic
research
department
further
tests
departmen
t
ALCO
supporting
department
accounting
policies
supporting
department
15
Duties of each position:
Director: Response for the overall job Finance and Accounting Division.
Deputy Director in charge of Planning: As the person responsible before Chief
for all operations of the array business plan.
Chief Accountant is the person who is responsible to advise and recommend
to the Head / Executive Board on implementation of prescribed rotation,
controling, collecting documents; the timeliness, completeness and
truthfulness of the data on the report and has the responsibility to guide the
prevention and operational departments, relevant personnel implementing
this provision in the unit.
•
Internal Accounting Department - Head Office
•
Budget and Accounting Division
-
Implementation of accounting and control of operational revenues and
expenditures for management activities arising at the Headquarters;
-
Accounting management tracking fixed assets, working tools, assets
outsourced;
-
Making a payment / advance and monitor internal debt at the office;
-
Accounting, monitoring and advising the leaders of the Bank relating to
fund distribution of wages, bonus, benefits, union funds;
-
Accounting and tax charge related to the procedures of taxation,
accounting controls, tax declarations;
-
Controlling costs paid under the approved budget; periodic evaluation
report on the implementation of the budget system;
-
Participating in the formulation of annual costs;
-
Focaling construction budget for the Bank, the division, the units
throughout the system.
-
Providing data implementation of the Bank budget, the Bloc and the
branches in the whole system to the Department of Planning &
Management job results to evaluate the budget plan;
16
-
Participating in drafting and settlement construction works, to make
payments under the capital construction plan approved and properly
regulated;
-
Participating in bid evaluation when the Bank launched a tender related to
the procurement of equipment and assets;
-
Leading in coordinating supply data (value) for the liquidation, transfer
and inventory of assets as prescribed;
-
Cooperating in the control of cash funds or irregular;
-
Managing and storage of accounting documents related budgetary
payments incurred at Headquarters;
-
Performing other duties assigned by the leadership of the Bank.
Accounting business operations division:
•
Accounting general accounting modules (GL) at Head-related
transactions: credit; invest; Interbank; foreign currency trading,
prevention, collection ... but not on the software automates core;
•
Compare the data between records - accounting and revenue - costs to
business units as prescribed;
•
Coordinate Reference payment deposit balances at credit institutions
and debt comparison with the customer;
•
Close, save documents as prescribed;
•
Control; guide units in the accounting system of business operations;
•
Coordinate construction guidelines accounting work;
•
Perform other duties assigned by the leadership of the Bank.
General Accounting Department - Head Office:
•
Prepare, send, store accounting reports and provides information to
accounting data:
•
Prepare and submit statistical reports;
•
Prepare and submit financial statements of the Bank as stipulated by the
State and the Bank;
17
•
Prepare and submit reports capital adequacy ratio minimum solvency
ratio, the ratio of short-term deposits for long-term loans;
•
Prepare and submit loan classification report;
•
Prepare reports and required reserves; Full deposit insurance for banks;
•
Prepare reports the information service of the consolidated statements of
PVN;
•
Coordinate implementation report which representatives of PVN;
•
Perform other reports as required;
Accounting policies division:
•
Building a system of accounting accounts; parameter setting of
accounting in the program, application software in the Bank;
•
Constructing documents and guidance mode implemented:
-
Based on the provisions of the accounting law, accounting standards
and policies and accounting regulations of the State, implementation
of construction, the Board issued the documents, regulations, rules
and regulations business process of applying the accounting work in
the system.
-
Direct and guide units in the banking system implementation of
policies and regimes, regulations and procedures of accounting work;
Resolving problems related to accounting work for the member units.
-
Proposal, consulted on the mechanisms, policies, regimes and issues
concerning accounting work with the State Bank and regulatory
bodies in other countries.
-
Lead in managing and guiding the use of sample prints, vouchers in
the banking system.
•
The inspection, supervision, management accounting system: Checking
and supervising the implementation of the policies and regimes,
regulations and procedures of accounting work at the units in the banking
system .
18
•
Participation in the work of scientific research on the work of accounting
and technology applications in the accounting operations.
•
Performent other duties assigned by the leadership of the Bank.
Management report division:
•
Integrated Revenue - Cost - Profit of the units in the entire system under
management needs of each period: by geography; by function; by
product;
•
Implementation of management reporting date; straight; precious; year or
upon the request of leaders of the Bank;
•
Analysis and assessment of the business results of operations; blocks;
Branch periodically;
•
Controling the daily data of the branches and the whole system;
•
Performing other duties assigned by the leadership of the Bank.
Post review division:
•
To guide and coordinate the construction of the units, organizations post
audits documents daily.
•
To control completeness of the documentation of all transactions to
ensure compliance with the internal regulations of the Bank and in
accordance with the regulations of the State Bank of Vietnam;
•
To control the flow of documents and receipts of archive documents is
guaranteed safe storage, full;
•
To integrat assessment and reporting on the post-test results and provide
consolidated reports results monthly post-inspection documents sent to
the Chief Accountant, and Bloc Leader Bank Board of Directors;
•
To perform other duties assigned by the Bank Leadership.
2.2.2. Organizations applying accounting voucher system
2.2.2.1. Establish original vouchers
Original documents are considered as original documents. Accounting
based on original documents, can be bill, the payment profile, ex-
19
warehousing and warehousing collateral, statements, remittance proposal of
business departments to accounting. Accountant accounting bills, the
documents reflect the economic and financial transactions arising have been
recorded in accounting books. Accountants must perform checks the validity
and legality of the documents and economic transactions with the regime
before making entering data into your computer. Documents used in
accounting at PVcomBank are valuable papers to legally conduct
transactions up to the stage from the formulation and storage controls,
organizations must ensure proper preservation mode.
Accounting vouchers include:
•
Cash Vouchers: receipts, payment bills, checks, paper deposit,
withdrawal, remittance bills, paper money field, ...
•
Vouchers transfer: payment order, collection, checks, letters of credit,
a written request to transfer money ..
•
A list of categories: a declaration of checks, interest lists, lists of
currency fields, lists the types of deposits ...
•
Money order used in electronic funds transfer, foreign currency
requirements.
•
The accounting documents and vouchers assets off balance sheet
(assets bill, import bill of assets).
2.2.2.2. Control documents
Each warrant accounting is tested and must be approved before being
added to the system. Once updated, any error detection can not be deleted, if
you want to edit to make adjustments.
In organizations voucher system and the original records, control
procedures are carried out as follows:
First, control approval for the business operations of the Bank: has
complied with the implementation of accounting documents approved under
20
the accounting regulations by the Ministry of Finance and the State Bank
issued and internal regulations or not.
Namely the ratification documents like receipts and payment
vouchers, the request for transfer, submission, interest coupon, credit
contracts, debentures, loan proposal, debt rescheduling proposal. This
approval is required for each specific business, such as customer demand for
loans, the loan must be recommended by customers, contracts or loan
contracts of deposit and credit department must leader's approval before
carrying out such operations. The ratification process is done through
vouchers 3 levels: From the business unit level to the control department and
Deputy Director / Director of Business Unit Head or authorized.
Second, control of accounting documents is carried out in two steps:
Step 1 is the original control: Made by the internal accounting department,
control content, including original documents attached are complete and
valid or not, the economic contents of vouchers, voucher name; dates,
numbers and vouchers; names and addresses of the parties concerned;
monetary value, the content recorded on the voucher, the customer's
account, citad code and account number of the customer; signature of the
units making documents, accounting entries or less true nature ...
Step 2 is controlled back: After accounting and control initially, vouchers
will be sent to the Centre for funds transfer payment (if exceeding the limit
of the approved centers, the need to transfer payments to the Board of
Director responsible for approval, transfers).
The Finance and Accounting Division PVcomBank only cash
transactions by bank transfer, all cash transactions made in the
trading rooms of PVcomBank.
The flow of bank's accounting records was partly to ensure the following
principles:
- Xem thêm -