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1 MONTHLY REPORT July, 2009 Accounting, Finance and Investment.

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Presentation on theme: "1 MONTHLY REPORT July, 2009 Accounting, Finance and Investment."— Presentation transcript:

1 1 MONTHLY REPORT July, 2009 Accounting, Finance and Investment

2 2 Overview Activities/Achievements of current month and Plans for next month Revenue/expense analysis Introduction of Budget performance system

3 3 Activities, Achievements and Plans

4 4 Accounting Activities/Achievements/Plans Accounting  Worked with external audit (Ernst & Young) on the half-year financial reports (both Vietnamese and Chinese GAAP standard)  Launched on the budget performance system. A short training had been conducted to all departments to introduce this system. Plans  To finalize the company payment guideline and to arrange a presentation to all departments at mid of August,  To kick-off the 2010 budget, starting at mid of August, 2009

5 5 Finance Activities/Achievements/Plans Finance  Produced the monthly report of VAT, PIT, Withholding tax and Profit & Loss’s tax report of the 2 nd quarter operation.  Worked with Tax Department on buying the service invoice and providing of Certificate of income tax withhold.  PIT updated : Letter 40/TCT-VP dated 29 June, Extend submitting the registration of dependent and relevant documents to 31 Dec, 2009

6 6 Finance (Cont.) Activities/Achievements/Plans Finance (Cont.)  Agent PIT updated : Official Correspondence 2965/TCT dated 20 July, 2009 – Insurance agents must register tax code in 2009.Insurance agents must register tax code in The Certificate of income tax withhold will be issued one time a year at year end. In case of agent resignation, the income tax information would be declared for their working period.The Certificate of income tax withhold will be issued one time a year at year end. In case of agent resignation, the income tax information would be declared for their working period. Company must deliver this certificate as agent’s request. It is used for personal tax return or tax refund purpose only.Company must deliver this certificate as agent’s request. It is used for personal tax return or tax refund purpose only.

7 7 Investment Activities/Achievements/Plans Investment  Following up international and domestic bond market, including economic indicators and bond trading activities.  Gathered fund management company (FMC)-related information and reported to headquarter.  Completed all the procedures of switching custodian bank from HSBC to IVB.

8 8 Investment (Cont.) Activities/Achievements/Plans Investment (Cont.) Plans  Keep following the macro economy and bond market.  Assess all kinds of investment instruments for coupon re-investment in August,  Prepare investment cash inflow projection chart to avoid cash flow mismatch.

9 9 Overview Revenue / expense analysis

10 10 Revenue and expense in 2009 Financial reports Revenue and expense in ,554 10,609 17,463 14,337 19,339 12,915 11,264 13,424 12,970 14,076 13,999 14,990

11 11 Revenue and expense (Q3/08 – Q2/09) Financial reports Revenue and expense (Q3/08 – Q2/09) 26,049 23,968 42,88242,503 44,932 41,212 40,573 43,573

12 12 Expense performances Financial reports Expense performances Sale expenses Administration expenses

13 13 Overview Introduction of Budget performance system

14 14 Introduction of Budget performance system

15 15 Introduction of Budget performance system  An ongoing budgetary control instrument, to provide information on expenditure transactions through monthly reports and daily online access.  Produce expense analyses and budgetary data to individual department at anytime.  Show any variance (over or under) between the amounts budgeted and expended.  Support departmental budget controller in ensuring that over-expenditures is not going to occur.

16 16 Introduction of Budget performance system

17 17 Introduction of Budget performance system

18 18 Introduction of Budget performance system

19 19 Introduction of Budget performance system

20 20 Introduction of Budget performance system

21 21 Introduction of Budget performance system  Departmental budget controller is able to track down the actual expenses for verifying from the system.  The commentaries on variance of actual against budget and the departmental suggestions must be reverted to Accounting on 15 th at the latest.  Quarterly, Accounting to highlight the key variances of the last quarter to BOD.

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