Mobile/Zalo
+84 (0) 903 963 163
Internal accounting - the key to effective business management
Detailed instructions on tax declaration, tax settlement and legal tax optimization for businesses. Update the latest tax regulations in 2024
0%
Business profits increase
0%
Reduce operating costs
0x
Decision making speed
0%
Forecast accuracy
Overview of internal accounting
Business accounting is a system of collecting, processing, analyzing and providing financial information about the business activities of an enterprise. This is an important tool to help manage, operate and make effective business decisions.
The role of internal accounting
1. Planning and budgeting
Build budgets and financial forecasts for business operations
2. Cost control
Build budgets and financial forecasts for business operations
3. Performance evaluation
Build budgets and financial forecasts for business operations
4. Decision support
Build budgets and financial forecasts for business operations
Difference between Internal Accounting and Financial Accounting
| Criteria | Internal accounting | Financial accounting |
|---|---|---|
| Target users | Internal leadership | Shareholders, tax authorities, banks |
| Mandatory | Optional | Required by law |
| Standards | Flexible according to needs | VAS/IFRS compliance |
| Scope | Details of each part | Enterprise-wide |
| Time | Flexible (day, week, month) | Periodically (quarterly, yearly) |
| Orientation | Future | Past |
Benefits of Internal Accounting
With the Board of Directors
- Make quick decisions based on real-time data
- Control costs and optimize profits
- Accurately evaluate investment performance
- Detect financial problems early
For Business
- Enhance competitiveness
- Improve operational efficiency
- Minimize financial risk
- Optimizing resources
Common Internal Accounting Methods
Activity-Based Costing (ABC)
Allocate costs by activity, determine exact costs for each product/service
Standard Costing
Establish standard costs and compare actual with standards for control
Variance Analysis
Analyze budget variances, identify causes and propose solutions
Cost-Volume-Profit Analysis
Analyze the cost-volume-profit relationship and determine the break-even point.
Internal accounting topics
Management accounting
Comprehensive management information system for businesses
- Overview of management accounting
- Management tools and techniques
- Dashboard and management reports
Cost accounting
Comprehensive management information system for businesses
- Overview of management accounting
- Management tools and techniques
- Dashboard and management reports
Budget estimates
Comprehensive management information system for businesses
- Overview of management accounting
- Management tools and techniques
- Dashboard and management reports
Financial analysis
Comprehensive management information system for businesses
- Overview of management accounting
- Management tools and techniques
- Dashboard and management reports
Management report
Comprehensive management information system for businesses
- Overview of management accounting
- Management tools and techniques
- Dashboard and management reports
Internal Accounting Implementation Process
Tools and support software
Excel & Power BI
Basic analytics and reporting for small businesses
SAP Business One
Integrated solutions for small and medium businesses
Oracle NetSuite
Cloud-based solutions for all scales
Odoo
Flexible Open Source ERP
MISA AMIS
Vietnamese software suitable for SMEs
Successful Case Studies
ABC Production Company
Implement ABC cost accounting system to manage production costs
- Reduce 30% production costs after 6 months
- Increase 25% in raw material efficiency
XYZ Trading Company
Apply management accounting to optimize inventory and working capital
- Reduce 30% production costs after 6 months
- Increase 25% in raw material efficiency
Documents and Resources
Ready to deploy internal accounting
Let us advise the most suitable solution for your business