Students of the High Quality Program study at Vietnam Air Catering Services JSC – VINACS

25/04/2019

On April 17 and 24, nearly 200 students majoring in Corporate Accounting at CLC, course 55, visited

On April 17 and 24, nearly 200 students majoring in Corporate Accounting at CLC, course 55, visited and studied at Vietnam Airline Catering Services Joint Stock Company - VINACS. The delegation was led by Associate Professor, Dr. Mai Ngoc Anh - Head of the Accounting Department, along with teachers in the department and the Executive Board of CTCLC.

Associate Professor, Dr. Mai Ngoc Anh - Head of Accounting Department led the delegation on a practical study tour

Welcoming the delegation of the Academy of Finance, on the side of VINACS, there was the presence of Mr. Nguyen Minh Hai - Chairman of the Board of Directors; Mr. Duong Tien Nghia - General Director; Mr. Nguyen Van Tuy - Deputy General Director; and heads of departments in the company. In which, Mr. Nguyen Minh Hai is also Vice Chairman of the Board of Directors - General Director of TASECO Group.

Mr. Nguyen Minh Hai - Chairman of the Board of Directors of VINACS - Alumni of the 32nd Course of the Academy of Finance spoke

Speaking to welcome the delegation, Mr. Nguyen Minh Hai - Chairman of the Board of Directors of VINACS expressed his feelings of feeling young again when meeting the teachers and students of the Academy of Finance. He especially emphasized that practical learning at the unit like now is a great opportunity for students of the Academy's CLC Program, something that his generation had never had before. At the same time, he affirmed that VINACS in particular and TASECO Group in general, will always try their best to support students of the Academy of Finance in their internships and practice and increase their access to professional practice. He further emphasized that the company always creates conditions for further professional connections between the company and the Academy to help students visualize practical jobs after studying the theories equipped in school. The company is always ready to create deeper connections in the future.

Mr. Nguyen Ngoc Quan - Head of Business Planning Department introduces an overview of VINACS

After that, the students were introduced by Mr. Nguyen Ngoc Quan - Head of VINACS Business Planning Department to an overview of the company, its history of formation and development, and the unit's product manufacturing process. In particular, they were able to visit the actual production line of an in-flight meal product, including the stages, raw materials, preservation and storage methods, food safety and hygiene regulations, etc. At the same time, they shared with the students about market penetration policies and competition mechanisms in the non-aviation service industry.

Students prepare protective clothing and sanitize their hands before visiting the airline catering production process.

After listening to the company leaders and their seniors' reports, the students asked the company's management and accounting department a series of questions ranging from strategic vision to accounting regime. Typically: Business development strategy? Risks in ensuring food safety and how to respond to crises? How to account for surplus products or products that have been booked and canceled by passengers 2 hours before the flight? Which circulars are currently followed by the company's accountants? What method does the company use to account for inventory? Input materials? Accounting for raw materials at the company? How are transactions in foreign currencies handled at the company? Does the company control the quality of meals? Costing methods at the company?... Some students even boldly asked about the recruitment process as well as the treatment regime at VINACS, expressing their desire to work at the company after graduation.

Students ask questions and discuss with company leaders

The questions students asked during their internship at VINACS were answered enthusiastically and in detail by the company's leaders, chief accountants, and related departments. This helped students visualize what future accounting work would be like, linking theory from class to practical work with specific accounting tasks.

In particular, Mr. Duong Tien Nghia - General Director, and Mr. Nguyen Van Tuy - Deputy General Director shared, "The Academy of Finance is the cradle that nurtures the future of society, and currently, about 50% of the company's staff are HVTC alumni". VINACS leaders also want to send a message to students that young people must have ambitions and dreams, but limit them within their capabilities. At the same time, they would like to express their deep gratitude to HVTC for placing their trust in VINACS to organize this extremely meaningful field trip for students.

Mr. Duong Tien Nghia - General Director of VINACS shared with the delegation

Mr. Nguyen Van Tuy - Deputy General Director of VINACS - Alumni of Course 35, Academy of Finance speaking

At the end of the program, the delegation was warmly welcomed by the company's leaders and related departments. Their affection was expressed through enjoying each person a meal for passengers on the plane produced by VINACS.

VINACS is one of the largest airline catering companies in Vietnam. Despite its young age, VINACS has so far captured a large market share in the airline catering industry, with prominent customers such as Qatar Airways, Royal Flight Airlines, Vietjet Airs, Bamboo Airways, etc. In 2018, VINACS was awarded the double title of “Best Catering Company in the World” and “Best Catering Company in the Asia-Pacific region” by the 5-star airline Qatar Airways.

Practical sessions like this have helped students of the Academy of Finance in general, and high-quality students in particular, understand and grasp more clearly the actual situation of a specific type of business, and better understand the accounting process of a specific part. Also from such practical sessions, students, in addition to the theoretical knowledge equipped in school, will be able to connect with reality to understand and grasp more clearly, know how businesses are currently doing in practice, helping students have the ability to think and apply theory to practice to handle situations. At the end of each class, the Department of Accounting will ask students to write a summary, write an article to serve the scientific research seminar on the accounting parts that the students grasped from the field trip, so that they can see the prospects of activities connecting the reality of businesses and theoretical training in school.

Some pictures from the study tour: