PREFACE

This internship report is being filed as a partial requirement in fulfillment for the Degree of Bechlor of business administration. The internship report is based on Super Asia MDS LTD. The report includes all of the important aspects regarding the organization, its history, its structure, functions of its department, and the holistic financial analysis of the company. The internship as carried out at the Accounts department of the company in

order to acquire deep understanding of the functioning of the organization and also to fulfill the requirement of the degree.

The benefits that ! belie"e ! ha"e #or follo ing% Gain Valuable Work Experience Have an Edge in the Job Market Transition into a Job

ill$ gain from this internship includes the

Decide if this is the Right areer for Me !et"orking #pportunities $ppl% lassroo& 'no"ledge Gain onfident

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ACKNOWLEDGMENT
All praises and than(s to Almighty Allah. The Lord and )reator of this uni"erse by hose po er and glory all good things are accomplished. *e is also the most merciful, ho besto ed on me the potential, ability and an opportunity to or( on this pro+ect. ! am grateful to my respected teacher Mr. *afiz !mran A(ram guided me in each and e"ery step of this pro+ect. !ndeed, ho has

ith out his

(ind guidance ! may not be able to e"en start this pro+ect. May ALLA* gi"e him the re ard hich he deser"es. ! am also grateful to all those members ho are related to Super Asia MDS Ltd.

Despite of the most hectic schedule, Sir Muhammad !qbal )heema #)&,$ helped me so much. !-m really grateful to him for clarifying my concepts and ma(ing me learn from his e.perience. /hate"er ! learnt from him ill definitely help me in my upcoming study and the professional life ahead. Than( him so much for being so co0 operati"e and so helpful e"ery time. ! hope Sir ! ha"e been up to your e.pectations. !n the end, ! am than(ful to all my teachers and ha"e a lot of prayers for them degree. *ere ! ha"e special than(s for Mr. *afiz !mran A(ram guided me to complete my final pro+ect. ho

gi"e me the (no ledge and ma(e me able to complete my Bachelor1s hose super"ision

Muhammad Athar Ali

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DEDICATION

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I dedicate my report to my PARENTS and re pected TEAC!ERS "#o ta$%#t me and %$ided me on e&ery tep o' my (i'e)

INTERNS!IP LETTR

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Ta*(e o' Content

9.: ;.ecuti"e summary 2.: !ndustry !ntroduction 6.: ,"er"ie of the ,rganization 6.9 Brief *istory 6.2 >ature of the ,rganization 6.2.9 ?ision Statement 6.2.2 Mission Statement
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6.2.6 Main &eatures 6.2.7 )ompetitors 7.: ,rganizational Structure 7.9 >umber of ;mployees 7.2 Main ,ffices 7.6 !ntroduction to all department 7.7 )omments on ,rganizational Structure 8.: /or( Done by !nternee @.: &inancial Statement @.9 Balance Sheet @.2 3rofit A Loss ABc <.: &inancial Analysis <.9 Liquidity Analysis <.2 Acti"ity Analysis <.6 Sol"ency analysis <.7 3rofitability Analysis <.8 'eturn Analysis C.: S/,T Analysis =.: )onclusion 9:.: 'ecommendations 99.: Limitations 92.: Bibliography 96.: 5lossary 97.: Anne.ure

98 9= 2: 29 29 22 6< 6= 72 72 76 77 77 7< 8: 86 88 8@ @2 @C <2 <6 <7 <8

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+), E-EC.TI/E S.MMAR0

Super Asia is rightly rated as largest gro ing industry of 5u+ran ala. !t is a true e.ample of progress made by leaps and bounds. Super Asia is di"ided into units based on the products e.g. there is different unit for fan and a different unit for motorcycle production. There are four departments hich ser"e all production units namely% mar(eting, *', sales, and accounting departments. Almost e"ery department e.cept *' department, Mar(eting department use a the manner in hich consists of a single *' manager, has a super"ising manager and assisting staff or(ing under him. ide range of tactics to enhance sales ranging from T? or(s parallel to and in ad"ertisements to luc(y dra s. *' department is not performing all the functions in hich it should perform. Sales department

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collaboration sales manager.

ith mar(eting department and has a sales force as assisting team to

Re(ated Department o' Intern #ip

The main focus of the pro+ect is the e"aluation of accounting system and cost efficiency. The accounting department is headed by a chief accountant Manager Accounts deals ho is also 5eneral Manager of the company. Accounting department ser"es all production units. ith routine and operational matters of Accounting Department. This department also performs the functions of )osting, )ost Accounting, and &inance. !n its accounting function, department performs recording, summarizing, classification, and reporting as system of accounts ell. )ompany uses an integrated ith perpetual in"entory system. A customized accounting

soft are #&inance Manager$, not "ery different from other a"ailable in mar(et, is used in the company. )osting function is not up to the mar( as e.pected in such a large a fast0gro ing industry. Standard and process costing is used. There is not consistent policy for costing material issues. >o separate material astage reports are prepared. Labor costing is done by using payrolls and time records. Manual time records are used. &actory o"erheads are absorbed using production as a base. Monthly Budgets are regularly prepared. ;ntry for sales is boo(ed hen 5D> is communicated to hen in"oice Accounting department by 5odo n, and entry for purchases is boo(ed

is recei"ed from supplier. There is no defined policy for settling payables and recei"ables, and settlement is mostly done on the directions of directors. The detailed production process is e.plained in anne.ed chart.

Startin% 1 Endin% Date o' Intern #ip Duly 7, 2:96 to August 98, 2:96 There ere no ma+or fla s found in accounting system of Super Asia ith the

e.ception of some small discrepancies. )osting System should ha"e been for such a large organization

as not up to the mar( as it

ith such huge gro ing trends. Also,

the typical conser"ati"e mentality of o ners can be seen in the inadequate and
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insufficient safety measures for the or(ing labor on dangerous machines. Less focus on *' functions is also another e.ample. )ompany should understand its gro ing needs and should come out of the conser"ati"e frame of mind of operating business. Their business is gro ing and they must modernize their culture and systems to cope for the gro ing needs. As a concluding note, it is obser"ed that small businesses, and gro ith o ners ha"ing modernization of culture and is the case ith conser"ati"e

ither no or traditional education, recent to the ays of doing business. /hen these small businesses

into large organizations, their typical mentality is automatically inherited. This ith Super Asia. May be, they are doing a fine business at the present

stage, but they ha"e to accept the fact that a re"olutionary change in their organizational culture and structure is required to cope for the prospecti"e needs of their immensely gro ing business.

2), IND.STR0 INTROD.CTION3

!i tory o' Wa #in% Mac#ine Ind$ try3 Ancient peoples cleaned their clothes by pounding them on roc(s or rubbing them ancient ith abrasi"e sandsE and ashing the dirt a ay in local streams. ;"idence of here the ashes containing the ashing FmachineF as the ashing ashing soap as found at Sapo *ill in 'ome, as used as soap. The earliest

fat of sacrificial animals

scrub board in"ented in 9<=<. American, Dames Ging patented the first machine, ho e"er it

machine to use a drum in 9C89, the drum made Ging1s machine resemble a modern as still hand po ered. !n 9C8C, *amilton Smith patented the rotary ashing machine.
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!n 9C<7, /illiam Blac(stone of !ndiana built a birthday present for his as a machine hich remo"ed and ashed a ay dirt from clothes. The first machines designed for con"enient use in the home. !i tory o' Fan Ind$ try3

ife. !t ashing

&an history stretches bac( thousands of years. Since antiquity, fans ha"e possessed a dual function a status symbol and a useful ornament. !n the course of their De"elopment, fans ha"e been made of a "ariety of materials and ha"e included Art or(. The simplest fans are lea"es or flat ob+ects, a"ed to produce a cooler atmosphere. These rigid or folding hand0held implements ha"e been used for cooling, for air circulation, as a ceremonial de"ice, and as a sartorial accessory throughout the orld from ancient times. They are still idely used. The earliest (no n fans are called -screen fans- or Hfi.ed leaf fans-. These ere Manipulated by hand to cool the body, to produce a breeze, and to ards off insects. ;arly fans usually too( the form of palm lea"es. Some of the earliest (no n fans ha"e come from ;gyptian tombs. ;arly Assyria and ;gypt employed sla"es and ser"ants to manipulate the fan. !n ;gyptian reliefs, fans tomb 3ossessed gold fans associated Long0*andled, dis(0shaped fans ere of the rigid type. Tutan(hamen-s alls. ere ith ostrich feathers, matching depictions on tomb ere carried by attendants in ancient times and

ith regal and religious ceremonies. They had handles or stic(s attached to as used in fans, such as those of the hich had both practical and ceremonial

a rigid leaf or to feathers. 3lumage of birds ;gyptians and >ati"e American !ndians, uses. !i tory o' Air Conditioner Ind$ try3

The idea of air conditioning started before a machine as )reated to produce the cooling effect desired. The first attempt at building an air conditioner as made by Dr.Dohn 5orrie #9C:609C88$, an American 3hysician, in Apalachicola, &lorida. During his practice there in the 9C6:s, Dr. 5orrie )reating an ice0 ma(ing machine that essentially ble conditioner units air o"er a buc(et of ice for cooling hospital rooms of fe"er. A close ancestor to the modern air as called FApparatus for Treating AirI and
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patients suffering from malaria and yello /illis )arrier. The machine at that time
Muhammad Athar Ali

as first made in 9=:2 by an American engineer by the name of

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as built for the Sac(ett0/ilhelms Lithographing and 3ublishing )o. in Broo(lyn, >e Jor(. )hilled coils ere used in the machine to cool air and lo er humidity to as made ith enough precision that the humidity 88K, although the apparatus le"el desired bloom. They first hit the industrial buildings such as printing plants, te.tile mills, pharmaceutical manufacturers, and a fe hospitals. The first air0conditioned home as that of )harles 5ates, son of gambler Dohn FBet a MillionF 5ates, in Minneapolis in 9=97. *o e"er, during the first conditioner units that a"e of their installation, )arrier-s air ere large, e.pensi"e, and dangerous due to the to.ic ammonia

as ad+ustable. After the in"ention by )arrier, air conditioners began to

as used as coolant. !n 9=22, )arrier had t o brea(throughs 0 he replaced the

ammonia ith the benign coolant dyeline and added a central compressor to reduce the size of the unit. Today, air conditioners ha"e been said to be a partial cause for the changes in the South, and for most of us ho ha"e e.perienced its cooling benefits in times of searing heat a"es, it is an in"ention that is hard to li"e ithout.

!i tory o' Gey er Ind$ try3 !n the 9C<:s, ;nglishmen, Maugham in"ented the first instant the Designs of ;d in 'ued. ;d in 'ued, a >or egian mechanical engineer here he pioneered the early de"elopment of both residential and commercial heaters. ater as the ater

*eater. Little is (no n about Maugham1s in"entionE ho e"er, his in"ention influenced in"entor of the automatic storage ater heater in 9CC=. 'ued immigrated to 3ittsburgh

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!i tory o' Water Di pen er and Water Coo(er Ind$ try3 The drin(ing ater fountain as e (no it as first in"ented in the early 9=:@ and is hen ater coolers used

credited to t o men 0 *alsey /illard Taylor and Luther *a s. *a s patented the first faucet in 9=99. &rom those humble beginnings, large bloc(s of ice to chill the ater, to the self0contained electric ater cooler in 9=6C, there are no a plethora of models and types to fit e"ery need. Although first Fbarrier0 freeF electric ater cooler as in"ented in 9=<2 by the *a s )orporation, it asn-t until the passage of the Americans ater coolers came into their o n. Bottled ater dispensers ha"e been around since before the middle of the 2:th )entury. These units depend on gra"ity to pro"ide the )ooling units ere added later. Today, many ater along heating element to pro"ide hot ith chilled ater in a free standing unit. ater. Some are e"en offered ater coolers or dispensers include A ith Disabilities Act in 9==: that these accessible

in Designer colors and shapes to fit into any dLcor. !i tory o' Micro"a&e O&en Ind$ try3 The micro a"e o"en did not come about as a result of someone trying to find a better, faster ay to coo(. During /orld /ar !!, t o scientists in"ented the ere able to spot >azi arplanes on their ay to bomb the as magnetron, a tube that produces micro a"es. !nstalling magnetrons in Britain1s radar system, the micro a"es British !sles. By accident, se"eral years later, it as disco"ered that micro a"es also coo( food. )alled the 'adar 'ange, the first micro a"e o"en to go on the mar(et roughly as large and hea"y as a refrigerator. The idea of using micro a"e energy to coo( food as accidentally disco"ered by 3ercy LeBaron Spencer of the 'aytheon )ompany hen he found that radar a"es had melted a candy bar in his poc(et. The first 'aytheon commercial micro a"e o"en as the 99@9 'earrange, hich as mar(eted in 9=87. !n 9=@<, Amana, a di"ision of 'aytheon, introduced its domestic 'earrange micro a"e o"en, mar(ing the beginning of the use of micro a"e o"ens in home (itchens. Although sales ere slo during the first fe years, partially due to the o"en1s relati"ely e.pensi"e price tag, the concept of quic( micro a"e coo(ing had arri"ed. !n succeeding years, Litton and a number of other companies +oined the countertop micro a"e o"en mar(et. By the end of 9=<9,
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the price of countertop units began to decrease and their capabilities ere e.panded.

4),

O/ER/IEW OF T!E ORGANI5ATION3

4)+ 6rie' !i tory3 Super Asia is family o ned business. !t as founded appro.imately 62 years ago ith its fi"e departments is

as a pri"ately held factory of ashing machines. The founder of factory as Mr. *a++i Muhammad Din #Late$. The main campus of factory situated near )hun Da Mila 5T 'oad 5u+ran ala. The mission of Super Asia focused on becoming a leader in home appliances manufacturer in 3a(istan. The factory carefully managed its production to ensure
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gro th in both national and international mar(et. Super Asia1s products are "ery famous both in 3a(istan and orld ide. During the 9=C:0=:, Super Asia de"oted its resources and de"elops a huge factory and other businesses to ma(e its place in the competiti"e en"ironment of 3a(istan Super Asia has acquired a reputation as a home appliances manufacturer holds a leading position in the field of home applainces, they ha"e also atarted other businesses li(e polythene sheets and )>5 stations.They are trying to de"elop their organisational culture +ust li(e multi national companies. There are many outlets of Super Asia all o"er the 3a(istan under their brand name in many countries of the and pro"ide ad"ice and support to 5roup )ompanies. /ith many sales locations in 3a(istan and huge e.ports, Super Asia is present on all of the orld-s ma+or mar(ets. The company employs appro.. <:: people. hich sold their

products direct to final users. The best0(no n are household products, sold orld ide orld.The company-s )orporate &unctions #departments$ control, coordinate and monitor the acti"ities of the 5roup,

4)2

Nat$re o' t#e Or%ani7ation3

;"ery successful company and organization defines its "isions and mission and ma(es the strategies and rules to achie"e these missions and "isions. To achie"e these "isions and missions the organizations and companies ha"e to fulfill the ob+ecti"es so that the long term "isions and missions can be achie"ed. Same li(e that Super Asia also ha"e defined its "ision and mission hich are quoted here.

4)2)+
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/ISION3
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To *e t#e mar8et (eader in e&ery o' o$r prod$ct 9 nationa((y and re%iona((y:

,ur foremost aim is to thin( big, be the pace setter and modernizer. Since 9=<2, being the mar(et leader in ashing machines, e ha"e concrete plans to replicate our best 3ractices in e"ery of our offerings, across the region. !t is the ?!S!,> that e"ery employee of the organization is clear about.

4)2)2

MISSION3 To "in t#e $tmo t ati 'action9 tr$ t and (oya(ty O' o$r &a($ed c$ tomer :

4)2)4

Main Feat$re 3

PROD.CT LINES3
N Air )onditioners N /ashing Machines N /ater Dispensers N &ans N 'oom )oolers N 5eysers

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N Micro a"e ,"ens N Motor Bi(es

Micro"a&e O&en Defrost Setting. 3ainted Steel )a"ity. 3ush Button Door. 3ainted steel ca"ity.

Air Conditioner >e /all Mounted Series. Built to the highest international standards. ;nsuring ma.imum efficiency, performance and reliability.

Fan Muiet operation. Specially designed blades. ;"en air thro A 'e"ol"ing grill.

Room Air Coo(er

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4ltra cool air and quite performance. &or the first time in 3a(istan introduce ater proof pump. An efficient and energy sa"er cooling system.

Water Di pen er >e A easiest ay to get hot A cold drin(ing ater ith ater guard. >e stri(ing design. Lo energy consumption. ;asy to install Attracti"e lo price.

E(ectric Water Coo(er )omplete plastic front. )ontinue supply of cold ater. Seasonal effects and rust proof. )ompletely tested.

6.SINESS /OL.ME3
The company has a strong mar(et share as its /ashing Machines, 'oom Air )oolers, 5as A ;lectric /ater *eaters and &ans are ran(ed amongst the top manufactures of the country. The company1s business "olume accounts for appro.imately 7:K of the mar(et.

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C.STOMER SATISFACTION3 The company focuses on high end customer "alue and satisfaction follo ing are some of these ser"ices. Fo(("oin% er&ice are pro&ided *y S$per A ia Company3 To pro"ide customer prompt, quality and reliable ser"ices at their doorstep Super Asia has a largest after sales ser"ice net or( throughout the country. To ta(e care of customer appliances all ser"ice centers ha"e latest tools, equipments and machineries. After sales ser"ice team consist of ;ngineers and highly qualified staff appliance are being maintained. Super Asia after sale ser"ice also pro"ides the facility to customer of lifting their units from residence to ser"ice center and deli"ering ithin 7C hours. Ta(e care of our customers by remaining in contact should not face any type of problem. ith them so that they ith hich is

obtained through continuous customer ser"ices. As noticed by the internee, the

great professional approach due to this reason customer feels confident, once their

MORAL /AL.ES OF EMPLO0EES3

According to hat the internee has obser"ed, the employees at Super

Asia are committed to hat they. Moral "alues of employees include%

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!ntegrity )ontinuous )ommitment 3ositi"e Attitude &ocus on Muality Maintenance Dignity

INNO/ATION3
Super Asia is a dynamic organization hich focuses on continuous

impro"ement and product e.tension. )lear e"idence of this fact is that the company manufactures state of the art machinery. The product line has been e.tended from a fe products to "arious other ones as discussed abo"e.

4)2);

Competitor 3

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Prod$ct

Competitor <S=

&ans /ashing Machine Split A) Motorbi(es 5eyser Micro a"e ,"en /ater Dispenser

3a( &an, 'oyal &an, Jonus &an, 3ar"az &an 3el, Da lance, Stylo, ,rient *aier, Da lance, 3el, L5, ,rient, Mitsubishi *onda, Suzu(i, Jamaha, >as5as, Da lance, 3el, Gen ood, ,rient 3el,

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;),

ORGANI5ATIONAL STR.CT.RE3 ;)+ Or%ani7ationa( !ierarc#y C#art3

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;)+ N$m*er o' Emp(oyee 3 The )ompany contains around <:: employees including management and or(ers. The permanent management consists of around 2<8 employees in "arious businesses of the organization. ;)2 Main O''ice 3 !ead O''ice3 Super Asia Muhammad Din Sons 5.T. 'oad 5u+ran ala 3a(istan ?oice% &a.% /ebsite% ;mail% O=2088072<2C:908 O=2088072<926C .superasia.biz infoPsuperasia.biz

Site O''ice 3 Super Asia sales and ser"ice C= temple roads Lahore. Mob% :6::0C7:@99@ Super Asia sales and ser"ice 7:8 +innah colonies &aisalabad. :790@7<=76

Super Asia sales A ser"ice 5ulf 3laza )handni cho ( near 5ondal )>5 9 st floor flat no 9 'a alpindi. :8907C769C<, :6290@9C9:::

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Super Asia sales A ser"ice Ahmad par( colony oppisite Damia0Saqlain road near Ghane al road Multan. :@90<<:228

;)4Introd$ction o' A(( Department3

Super Asia has four ma+or departments hich are gi"en belo % Mar(eting Department *' Department Sales Department Accounts Department

>T#e Detai( o' indi&id$a( department i pro&ided 'rom t#e ne?t pa%e@

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Mar8etin% Department3
!n Super Asia )ompany 3ri"ate Limited there is a separate mar(eting department hich performs all the essential mar(eting functions that are suitable for or(ing. the company. !n the mar(eting department there are 2806: employees are The promotional tools hich are used by the company for the mar(eting are% Ad"ertisement including print, electronic and internet etc Broachers Bill Boards etc

There is a fi.ed budget for the mar(eting acti"ities in the company. &rom the total budget the mar(eting department consumes the 2.8K to 6.8K of the budget. The important features of mar(eting campaigns are% City Compari on3 !t means that the company implements its mar(eting tools from city to city. They mainly target the large cities li(e Lahore, Garachi, !slamabad, &aisalabadE 5u+ran ala etc. !n these cities, the mar(eting campaigns are "ery intensi"e. Sa(e Sc#eme 3 )ompany gi"es schemes on their products in many cities of 3a(istan. Incenti&e 3 )ompany gi"es incenti"es to its dealers in e"ery city of the country. L$c8y Dra" 3 !n order to attract the customers and dealers, the company introduces the luc(y0dra s for both the customers and dealers. The main e.ample is Dealer1s

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con"ention that is held in the company for once a year. These luc(y dra s are launched in the large cities as ell as small cities of 3a(istan. According to the mar(eting department of the company, the main purpose of their product is to pro"ide quality and durability to its customers. They are also concerned ith the appearance and pac(aging of their products. According to their or( accurately but it must loo( beautiful hen "ie , their product should not only

placed in the house or in the shop. The company targets the middle class families in all o"er the country but these criteria are changed from city to city and products to products depending upon the per capita income of the people of that city. Mostly the customers of the company are the middle class families. There are many outlets in appro.imately e"ery city of 3a(istan. !n e"ery outlet the customer can purchase all the products of the company. The ne models, hich are ne ly launched, first come to the large cities and then to the small cities, but they are easily a"ailable e"ery here in 3a(istan. As described in the abo"e methods of ad"ertisements for the company1s product, the main channel of ad"ertisement is electronic then print and then other miscellaneous methods. !n the long run, the products of the company, sa"es the money, and cost of the company. *o e"er the company1s products are little bit costly but they pro"ide quality in their products li(e fans, ashing machines, air conditioners etc. 3eople ho purchase their products feel ease of using their products in the long run. &or e.ample the ashing machines of the company ill last for 2:028 years or(ing efficiently in the houses. The ma+or benefit of the products is that they reduce the bills of the electricity. The things hich ma(e their product really different, ne better and unique as

compared to their competitors are% Basic quality of their products 'epeating customers More publicity >e designs
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!nno"ation etc.

The company on many a ards li(e% Brand a ards, ;.port trophy in their ashing machines, Jearly brand ards, Muality standard a ards etc

To handle the complaints about the product in any city, there are complaint centers in Garachi, Lahore, 'a alpindi, &aisalabad and Multan. So the customers can satisfied by their nearby complaint ser"ice centers. !f there is complaint of serious nature then the concerned manager is sent from the head office to resol"e the complaint. !t is necessary for the company, to spend on ad"ertisement for remain in the mar(et relati"e to their competitors. The biggest selling points of the company are Lahore, Garachi, 'a alpindi, &aisalabad, 3esha ar etc, but this also depends upon the per capita income of the people li"ing in that city. The company con"eys their good ill, past e.periences and quality ith their products to their customers. There is no fi.ed time to run the ad"ertisement both on print and electronic media. !t mostly depends upon the season. !f there is the season of the product then the ad"ertisement runs but after the season they their ne.t seasonal product. According to the mar(eting department of the company, it is strongly important that a beautiful model displays their product in the ad"ertisement because the people get "ery satisfaction hen they see that a popular model uses their products. So, it is an encouraging tool for promoting their sales. The company also performs the international mar(eting by gi"ing their ad"ertisements in the international channels li(e *B,, Star /orld, &ilma. etc and the internationally atched 3a(istani channels li(e A'J Digital net or(, 5;, T? net or( etc. ill drag the ad"ertisement and launch the ne one for

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Muhammad Athar Ali

2= 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

!$man Re o$rce Department3

An *' manager is there to perform the functions of *' department. They belie"e that such neglected size of *' department is sufficient in such a large ad fast0 gro ing organization to fulfill the needs of *'. The company ants that their employees are professional, competent and ha"e discipline in their or( and manners. )ompany pro"ides the training and de"elops their employees here necessary. The management is sent for doing courses li(e quality standard courses and other management and computer courses. The employee performance is measured through their performance e"aluation forms that are pro"ided to *' manager. These forms are confidential and +ust remain in the hands of the Board of Directors and *' managers of the company. The or( en"ironment in Super Asia is reasonably good for the employees. !t

as told that employees feel good hile or(ing in the premises of the company. The mission and policies are documented and are pasted in many locations inside the company1s premises. The employee records are maintained through company1s soft are. That soft are is specially designed for performing that tas(. The attendances of the employees are maintained through time card machine and through punching system. !f the employee of any department he ill meet to the concerned manager in that department. *e ants to get lea"e ill pro"ide a lea"e

certificate for an e"idence of the lea"e. !f an employee comes late frequently then he ill be fined by deducting the amount for being late from his salary. But, this policy as not found as implemented properly. There is no special dress code in the company. The employee and management personal can ear both Shal ar Mameez and 3ent Shirt hile or(ing in the company. There is no equal employment opportunity pro"ided to the employees. As described about the or(place is sufficient for the employees to or(. The *' Manager designs all the +obs and assigns the responsibilities to e"ery employee and management personnel. The +ob redesigning is not practiced in the company li(e +ob rotation, +ob enlargement, and +ob enrichment. The or( timings are

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&inal 'eport

fi.ed. Mostly the or( is done through shifts and e"ery shift has fi.ed hours. There is no concept of team meeting is held in feedbac(. There is no customer ser"ice di"ision in the factory. The attitude of the employees to ards other ise he or( is serious. They are bound to or( in their concerning or(ing hours department. >o employee shall be allo ed to aste time during or( in the company. ,nly hen the ne product is launched, a hich the director of the concerned department briefs the

employees and management the specifications of the products and recei"es their

ill face penalty. The company e"aluate the +ob of any employee by the

reports made by his concerning super"isors and output generated by the employee. There are appro.imately 96:: employees or(ing in the factory including top

management. &rom 96:: employees, 9::: are on contract basis and 6:: are on salary basis. The salaries are gi"en to the management through ban(ing channel and the ages of the or(ers are gi"en in cash. The ages are paid 2 times in a month i.e. after 98 days. The salary is paid to the management at 29st of e"ery month. There are certain bonuses in the factory but it is in limited amount i.e. Aftari in 'amzan, ;id bonuses and 98 days bonus salary. !f the management personnel do not in the company, he quit his +ob. ant to or( ill put his resignation before the *uman resource manager and

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69 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

Muhammad Athar Ali

62 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

Sa(e Department3
!n Super Asia )ompany 3ri"ate Limited, there is a separate sales department. The super"ision of that department is in the hands of sales0promotion manager. Sometimes he reports to the directors, probably more often to general manager. Sales management performs function mainly of directing and controlling the details of their sales acti"ities. Sales promotion is chiefly concerned ith de"ising plans for stimulating sales and methods for putting these plans into operation. Because of the stress of competition, it has become increasingly necessary to equip salesmen ith more assistance by the ay of impro"ed equipments, portfolios, (its, sales manuals, bulletins, house organs and ad"ertising boo(lets, and to pro"ide the stimulus of special sales campaigns and contests. &ollo ing are the (ey functions of the sales department of Super Asia 3ri"ate )ompany Limited%

'ecruiting salesmen and also setting up their compensation !t also assigns the sales region to the salesman. Training the sales person in (no ledge of the goods and in methods of selling them.

Super"ising and directing the sales acti"ities. Super"ising and chec(ing the e.pense accounts, route lists, detailed reports and daily letters from the customers or dealers

Determining sales quotas, pro"iding bonuses and prizes, conducting sales contests and special sales campaigns.

3reparing, or directing the preparation of, sales manuals, or salesmen-s handboo(s, gi"ing detailed information about the company, the products, and the sales principles and methods in"ol"ed in selling.

)ooperate

ith the mar(eting department and sell the company-s products

relati"e to the ad"ertisements.

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,btaining reports from different sales region concerning the reaction to the company-s ad"ertising and that of competitors.

)ooperate ith the production department in the matter of qualities, quantities, containers, pac(ages, sizes and seasonal goods, and reporting their reaction on dealers and consumers.

Ma(ing in"estigations of the products or offering to disco"er ne ne appeals to dealer or consumer.

uses and

)onducting, or arranging for, special mar(et sur"eys and analyses of sales region ith a "ie to disco"ering ne mar(ets for the goods or ne methods of de"eloping old mar(ets.

Muhammad Athar Ali

67 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

Acco$nt Department3
The accounting department of Super Asia is practicing the integrated system of accounting. The general manager of the company acts as the chief accountant. >o other chief accountant is there for this matter. 5eneral Manager reports to the company head. And sub heads i.e. directors. The costing methods used in company are% Standard )osting 3rocess costing The accounting department can be further di"ided into three parts on the basis of functions performed by it namely% Accounting )osting &inance

Acco$ntin%
This function is concerned ith the% 'ecording of transactions in the proper boo(s at the proper time Boo(ing 'ecei"ables and 3ayables Maintenance of accounting records 'eco"ering 'ecei"ables and paying payables according to directors1 directions or company policy hiche"er is applicable 3reparing periodical mandatory and ad0hoc reports 3reparing &inancial 'eports Dealing ith Ta.ation Authorities 3reparing 3ayrolls /or(ing on )ustomized Accounting Soft are

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C$ tomi7ed So't"are
)ompany uses customized soft are #&inance Manager$ to fulfill its accounting needs. This soft are is not "ery different from many other soft are used in the mar(et but is slightly altered to fulfill the special needs of the industry and especially the company. This soft are is capable of dealing ith perpetual in"entory system and integrated boo(s of accounts. This soft are also pro"ides many reports automatically li(e "ariance report.

Co tin%
4nder this heading, the accounting department in Super Asia is performing the follo ing functions% Annual Budget 3reparation )osting of 3roducts 3reparation of ?ariance reports ;nsuring fle.ibility in standard costing system ;stimating o"erheads and deciding the basis of their absorption )lassification of costs ;nsuring )ost efficiency )ollection, e"aluation and analysis of cost records

T!E COSTING CAN 6E DI/IDED INTO T!REE MAAOR AREAS3 Materia( Co tin%3 The company issued the ra material mostly on the basis of &irst in first out

#&!&,$ and A"erage cost method but it also issues the material on the basis of Last in first out #L!&,$ in special circumstances. !n process costing, the losses
Muhammad Athar Ali 6@ 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

and

astage of material is also calculated at the time of the loss or

astage

and it is added in the operational cost of the product. >o separate cost reports are made for the losses and electronically. astages. Store ledger cards are maintained

La*or Co tin%3 Labor handling "aries from process to process. Standard )osting is used and a "ariance report is generated at the end of each desired period.

/or( center is defined for the labor. Labor is bound to or( in their or( hours at their or( places. There is t o (inds of labor% the permanent and on contract The contractual labor is under control of contractors There is @:K labor that salary. ,"ertime payments are made for e.tra or( done to salary or(ers only but at normal time rates. or( on piece rate and remaining 7:K or( on the

Payro(( o' (a*or3 As there is an integrated system of accounting, 3ayroll sheets are prepared by the accounts department. !t includes the follo ing data%

Date of payment Total hours or(ed Daily attendance 3roduction units >ame of the concerned department in hich the person is or(ing.

Muhammad Athar Ali

6< 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

Factory O&er#ead <FO!) &actory o"erheads includes follo ing e.penses%

Depreciation )leaning and lubrication of machinery Tools and equipments ;lectricity 5as ,il etc.

,"erheads are absorbed on the basis of production. 6$d%et3 Li(e e"ery company, Super Asia also ma(es the budget for the production requirements. The budget may be of three types% Monthly budgets *alf yearly budgets Annual budgets Seasonal budgets Monthly budgets are made more frequently by the company. 'emaining four is rarely made. These budgets co"er the production estimates on the basis of estimated sales. Material and labor requirements are also set on the basis of decided production. Paya*(e and Recei&a*(e 'ecording and settling of payables and recei"ables is an important decision in any company. !t puts a great impact on the current financial position and liquidity position of a company. Acco$nt recei&a*(e Sales Department recei"es sales order from customer and communicate it to Accounting Department and 5odo n. &rom 5odo n, goods are deli"ered to customer and a 5D> is communicated to Accounting department. ,n the
Muhammad Athar Ali 6C 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

basis of 5D>, Accounting department generates an in"oice and boo(s the entry. Acco$nt paya*(e &actory, hen required, communicates, informally, a requisition for material ith supplier for the

to store room. Store room communicates this requisition to purchase department. 3urchase department places an order required items. Supplier deli"ers goods along ith a 5D> from supplier.

5oods are recei"ed and inspected at gate and sent to store room. A 5'> is communicated to Accounting department. Supplier also sends an in"oice to accounting department after recei"ing the signed 5D> returned by 5ate. Accounting Department boo(s entry on its basis. Payment There is no defined payment policy of the company. 3ayments are made by Accounts department but on the directions of the directors. Mostly, directors decide the terms of payments and no defined policy is follo ed in this regard. Receipt There is no defined receipt policy. This function is also performed by accounting department. !t is done on the directions of the directors and not by follo ing some defined policy

;);Comment on t#e Or%ani7ationa( Str$ct$re3

The organization is o ned by a family setup and therefore all the decision ma(ing is carried out centrally at the *ead ,ffice and all the site offices carry out their targets accordingly.

Muhammad Athar Ali

6= 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

The present hierarchy of the company shoes an authoritati"e form of decision ma(ing hereas the orders are passed from the o ners to the management. Loo(ing ell at all le"els. ill also generate at the structure, it is suggested that the o nership management needs to in"ol"e the or(ing management in its strategic decision ma(ing process as This ill not only impro"e the performance of the employees but

increased re"enues for the company as the decisions ould be +oint and targets ould be met collecti"ely.

DETAILED DESCRIPTION OF DEPARTMENTBS OPERATIONS3 The related department in hich the internship as carried out as the

Accounts Department. The accounting department of Super Asia is practicing the integrated system of accounting. The general manager of the company acts as the chief accountant. >o other chief accountant is there for this matter. 5eneral Manager reports to the company head. And sub heads i.e. directors. The costing methods used in company are% Standard )osting 3rocess costing

The accounting department can be further di"ided into three parts on the basis of functions performed by it namely% Accounting )osting &inance

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7: 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

C),

WORK DONE 60 INTERNEE3 DETAIL OF TASKS CARRIED O.T 60 ME3

+ t Wee8 Reconci(iation o' di''erent *ranc#e ( financial data from different branches of Super Asia as gathered and analyzed. The data record as reconciled to hy match the financial data at the head office. !n reconciliation ! analyzed the ban( and supplier reconciliation statements and e.tract the reasons of there is difference bet een the statement of the company and the ban( etc.

/o$c#er o' Payment to di''erent partie : accounts payable to different clients of Super Asia issues dealt ere cleared and payments ere made to them. ,ther ith included accounts recei"able by Super Asia from business

clients. The quic( processing of these payments and receipts as carried out to ensure seamless financial performance.

2nd Wee8

6ranc#e e?pen e &eri'ication: this acti"ity included "erification of the different e.penses carried out by the branches of Super Asia. The proposed

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&inal 'eport

e.penditures at different sites incurred. This process

ere chec(ed against the actual e.penditures

as highly important in ensuring that the e.penditures

being incurred and reported ere authentic and appro"ed.

Verify bank Statements: the ban( statements recei"ed from different commercial ban(s related to the accounts of Super Asia ere "erified against the financial transactions carried out by the company itself. The records of the company accounts and the ban( statement must equate and therefore, the transactions ere updated regularly.

4rd Wee8 Check daily wages books: this acti"ity in"ol"ed "erification of the payments made to the or(ers at Super Asia *ead ,ffice. The payments made and the as updated daily to maintain complete record of age as for arded to the accounts department for further ages payable record boo(s. This record processing. Opening of the new accounts: this or(s in"ol"es that the accounts of the

clients and customers of super Asia opened in the company1s soft are #finance manager$. ,pening of the accounts according to the date and numbers of the clients and customers.

;t# "ee8
Application of tax: the ta. rate is added in the soft are hene"er the in"oice

is made by that soft are the ta. is imposed automatically according to the
Muhammad Athar Ali 72 3un+ab 4ni"ersity 5u+ran ala )ampus

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total amount of the in"oice. /hen the go"t changes the ta. rate then ta. rate is changed on all the accounts of the clients accountant and )&,. Sale department: in the sale department all selling done through the phone because normally all parties places their orders through the phone, ! also or(ed there as selling agent by recei"ing the calls of the clients and ta(ing the orders. ith the permission of the chief

Ct# "ee8
Cost of goods sold: cost of goods sold is maintained by getting the data about purchases of ra material, production and &,* from the accountants of the related or(. ! ha"e also prepared the )5S statement on 69 Duly by getting the related required data.

Making of the n!oices: issuing of the in"oices are according to the sale of the products. ! hal"e also issued the in"oices according the sale of the products and price of that particular product. !n"oice included the customer name, account number in boo(s of accounts, sale ta., total amount sale ta. and terms and conditions of the company. ith and ithout

Dt# "ee8
"urchase order: hile or(ing in production department the material hich

is insufficient for production and required more in quantity, a purchase order is made to the purchase department the purchase department further refers to the accounts department for authorization of the purchase order. #iling of the documents: the purchase bills and the in"oices are properly managed and filed in a sequence according to the date and the company name. The ban( receipts are also managed according to the date and the company

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76 3un+ab 4ni"ersity 5u+ran ala )ampus

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ise. /hile there are t o ma+or businesses one is the super Asia mds and the other one is the super Asia trading.

S$per A ia M$#ammad Din Son Limited 6a(ance S#eet A At 4,t# A$ne9 2,+2

Muhammad Athar Ali

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S$per A ia M$#ammad din Son Limited

CAPITAL 1 LIA6ILITIES
A.T!OROI5ED CAPITAL 9,:::,::: ordinary shares of 's.9::B0each I $ed9 $* cri*ed9 1 paidE$p capita( @C7,8<2 ordinary shares of 's.9::B0 each 4nappropriated profit DF9;CG92,, 7C,CC@,<=C ++G94;;9+GF NonEC$rrent Lia*i(itie DF9;CG92,, 6<,7=C,=86 +,C9HCD9+C4 +,,9,,,9,,, +,,9,,,9,,,

2,+2<RS=

2,++<RS=

PROPERT0 1 ASSETS
FI-ED ASEETEW)D)/

2,+2<RS=
+;F9GHC9H;G

2,++<RS=
+2F9H+F9HF2

Securities from dealers &inance lease liability Loan from Director C$rrent Lia*i(itie Trade A other 3ayables

96,2C8,:78 =,2<@,C82 4H9G;,9,,,

97,8==,79C 00 79,:8:,::: C$rrent A et

6@9,@6=,9=2

2@7,78<,::=

Stoc( in Trade

29C,9@C,C92

9C2,<77,92=

Short term &inancing )urrent 3ortion of lease liabilities

9C,CC9,<:= <,2=2,==C 2,<@2,7C2

Trade debts Ad"ances, deposits prepayments )ash A Ban( balances and

9:C.<82,C2@ C2,2<<,727

8C,C=C,:8= 6C,=62,98@

4FG9F+49FHH

2DG92+H9;H+

<,7@7,=@8

9=,669,<68

)ontingencies commitments

and

00

00

;+F9DD;9,2G

2HH9H,D9,GH

CDG9;CH9HG;

;2F9F2C9,D2

CDG9;CH9HG;

;2F9F2C9,D2

Pro'it 1 Lo

Acco$nt

For T#e 0ear Ended 4,t# A$ne9 2,+2 2,+2 <RS=

Muhammad Athar Ali

2,++ <RS=

78 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport Sa(e Enet 0)ost of goods sold #)5S$ 5ross 3rofit 759,570,306 595,165,095 +D;9;,C92++ 739,073,297 577,161,181 +D+9H+29++D

EOperatin% E?pen e Distribution )ost Administrati"e e.penses =:,7=8,89@ 8:,6@6,868 97:,C8=,:89 249C;D9+D, O,ther income ,perating 3rofit 0&inance )ost 3rofit before ta.ation 0 /or(ers participation and /elfare &und 3rofit for the year before ta.ation 03ro"ision for ta.ation 3rofit after ta.ation 997,:8C 249DD,92+F 6,27<,@:< 2,9;+29D++ 9,72C,CC6 +F9HF49G2F <,8=8,<:6 =7,C9C,::@ 6@,:27,98= 96:,C72,9@8 4+9,DH9HC+ 9,<CC,977 429FCF9,HC 2,@8<,9=< 4,92,,9FHF 2,997,:@6 2F9,FD9F4C <,@67,2:8

++944F9,2C

2,9;C29D4,

G), Financia( Ana(y i 3

G)+ LiI$idity Ana(y i 3 LiI$idity Ratio A class of financial matrices used to help determine a company1s short term debt obligations.

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Item in&o(&edJ C$rrent A et Stores, spares A tools. Stoc( in Trade, trade debts, loans and ad"ances, trade deposits and short term prepayments, other recei"ables, ta. refund due from go"ernment, ta.ation net, cash and ban( balances. C$rrent (ia*i(itie Trade and other payables, Mar(0up accrued, Short term borro ings, )urrent portion of long term liabilities. LiI$id A et trade debts, loans and ad"ances, trade deposits, ,ther recei"ables, go"ernment, ta.ation net, cash and ban( balances. A* o($te LiI$id A et loans and ad"ances, trade deposits, )ash and ban(

ta. refund due from balances.

Concerned year J )urrent year 2:92 Base year 2:99

Ca(c$(ation o' Ratio J

Muhammad Athar Ali

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&inal 'eport

Name o' Ratio )urrent 'atio

2,+2 9.:C

2,++ 9.92

re $(t 4nfa"orable

Rea on 'or c#an%e Decrease in )ash and ban( balance @9.6CK !ncrease in trade A other payables by 6@.<7K

Liquid 'atio

.=2

9.::=

4nfa"orable

Decrease in trade deposits by @8.86 K !ncrease in trade A other payables by 6@.<7 K

Absolute 'atio

Liquid .:9=

.<2

4nfa"orable

Decrease in trade deposits by @8.86K !ncrease in trade A other payables by 6@.<7K

/or(ing )apital

6:C8:92 C

62@C@8C C

4nfa"orable

Decrease in )ash and ban( balance @9.6CK !ncrease in trade A other payables by 6@.<7K

Critica( Ana(y i J The comparati"e analysis of QS43;' AS!A MDS LTD.I company1s abilities to pay its short term liabilities to indicate that it is not good in year 2:92 as compared to
Muhammad Athar Ali 7C 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

2:99. &urther, the e.ternal liquidity of the company has not impro"ed from the base year, hich means that company is not able to pay its e.ternal liabilities but is able to pay its internal e.penses. The decrease in liquidity is associated ith ma+or decrease in cash and cash at

ban(. Similarly this is also fa"orably sho s because of increase in AB3 A income ta. liabilities. The highest decrease among all the indicators is in current ratio because of the decrease in trade deposits, decrease in ta.ation and increase in trade A other payables. The increase in accounts recei"able along ith increase in sales indicate that the

company1s credit policy is not much tight and the company is not reco"ering its accounts recei"ables from its debtors and company has e.cess cash from the last year. The unfa"orable or(ing capital sho s that the business is not managing its ay that e"en e.pansion in the process of operation or(ing ill not capital requirement in a

be met by the company internally. !n a nut shell, it is obser"ed that the liquidity of the company is not impro"ing than the base year, yet there is space to impro"e it.

G)2 Acti&ity Ana(y i J

The effecti"eness of management to ards utilization of resources
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i. ii. iii. i".

To generate sales To manage recei"able To manage operating cycle To manage cash con"ersion cycle

Item In&o(&edJ Tota( A et

3roperty, plant A ;quipment ,perating fi.ed assets )apital or( in 3rogress Long term !n"estments Long term Deposits Stoc( in trade Trade debts Loans and ad"ances Trade deposits and short term payments ,ther recei"ables Ta. refunds due from

Lia*i(itie
Trade A other payables Accrued mar(up Short term borro ings )urrent portion of long term liabilities

Ot#er
Sales )ost of sales 3urchases

go"ernment Ta.ation net )ash and ban( balances

Concerned year J )urrent year 2:92

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&inal 'eport

Base year 2:99 Ca(c$(ation J Name o' Ratio

Total o"er Asset

2,+2
turn 9.67

2,++
9.<2

Re $(t
4nfa"orable

Rea on 'or c#an%e

Total 62.62K assets increased by

/or(ing capital turn 27.@2 o"er

22.@9

&a"orable

Decrease in )ash and ban( balance @9.6CK !ncrease in trade A other payables by 6@.<7K /or(ing capital decreased by 8.@9K

'ecei"able T., !n"entory turn o"er

@.=C 2.<6

92.88 6.9@ 998.8: days 2=.:C days 2:2.<< days 977.8C

4nfa"orable 4nfa"orable 4nfa"orable

AB' increased by C7.@7K in"entory increased by 9=.6CK in"entory increased by 9=.6CK

!n"entory turn o"er 966.@ in days )ollection 3eriod days 82.2= days 3ayment 3eriod 276.67 days ,perating )ycle 9C8.==

4nfa"orable

AB' increased by C7.@7K

&a"orable

Trade )reditors increased by 87.62K

4nfa"orable

in"entory 9=.6CK.AB' C7.@7K

increased increased

by by

Critica( Ana(y i J The effecti"eness of management to ards utilization of resources is 4nfa"orable in current year as compared to the base year, as ma+ority of the indicators ha"e sho n 4nfa"orable results.

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The negati"e acti"ity of the Super Asia MDS ltd. !s ma+orly because of the increase in Total assets increased by 62.62K, Decrease in )ash and ban( balance @9.6CK, !ncrease in trade A other payables by 6@.<7K, /or(ing capital decreased by 8.@9K. T$rn o&er ana(y i J the turno"er analysis of the company is unfa"orable able to potentionally use its assets. Co((ection Sy temJ The comparison of collection system in comparati"e years indicates that the company is not managing its collection earlier than the payments. The increase in the gap bet een t o collection system calculations is e"en ider negati"ely hich is depicted by that there is no mar(etable securities. Operatin% cyc(eJ ,ne of the acti"ity indicators is operational cycle of the company hich sho s that it is e"en decreasing in current year. The slo er collection and slo er sale both are contributing to ards the slo er operating cycle. The increase in collection period may cause the more bad debts here as the slo er sale of in"entory may cause higher carrying cost and more chances of obsoleteness. hich means the utilization of

assets are not optimal , although the assets ha"e increased , yet the management is not

!n a nutshell the company is not performing should impro"e it.

ell, the management of the company is

not efficiently utilizes its assets. So there is lac( of management, the management

G)4 So(&ency Ana(y i J

Sol"ency ratios are one of the "arious ratios used to measure the ability of a company to meet its long term debts.

Item In&o(&edJ

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Tota( A et

Lia*i(itie

Ot#er Lease payments

3roperty, plant A ;quipment Long term financing ,perating fi.ed assets )apital or( in 3rogress !ntangible Assets !n"estment 3roperty Long term !n"estments Long term Deposits Stores, spares and loose tools Stoc( in trade Trade debts Loans and ad"ances Trade deposits and short term payments ,ther recei"ables Ta.ation net )ash and ban( balances Long term

diminishing !nterest ;quity ,perating profit #;B!T$

mushasra(a Long term murabaha Deferred liabilities Trade A other payables Accrued mar(up Short term borro ings )urrent portion of long term liabilities

Concerned 0ear J )urrent JearE 2:92 Base JearE Ca(c$(ation J 2:99

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Name o' Ratio Time earned

2,+2

2,++ 9=.CC

Re $(t 4nfa"orable

Rea on 'or c#an%e ,perating profit decreased by 2<.==K !nterest 22.29K increased by

interest 99.97

Debt ratio

:.<=

:.<8

4nfa"orable

Total Debt increased by 6=.79K Total Assets increased by 62.62K

;quity ratio

:.29

:.28

4nfa"orable

;quity 9:.<8K

increased

by

Total Assets increased by 62.62K Debt to equity ratio :.86 :.82 4nfa"orable ;quity 9:.<8K increased by

Long term debt increased by 99.=8K

Critica( Ana(y i J The strength of a business to pay its long term debts can be obser"ed by conducting the sol"ency analysis of the business. The sol"ency analysis of year 2:92 in comparison of year 2:99 sho s that the company is not able to meet its long term debts as most of the indicators sho s the negati"e results. The company1s unfa"orable condition is caused by increasing total debt by 6=.79K, ;quity increased by 9:.<8K,
Muhammad Athar Ali 87 3un+ab 4ni"ersity 5u+ran ala )ampus

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Total Assets increased by 62.62K, ,perating profit decreased by 2<.==K and !nterest increased by 22.29K. !n current year the company is not only suffering to pay its long term debts but its periodic payment paying ability is also not up to the mar( as compared the year 2:99. !nterest paid by the company is a big financial ris( for the company.

The capital structure of the company sho s that this company is mostly debt oriented because total debt is increased by 6=.79K in current year as compare to the base year. !t means the company is already utilizing more debts in comparison of year 2:99. !n a nutshell by conducting this sol"ency analysis debt in current year in comparison of base year. e come to (no that the company

is not able to ta(e the long term loan because the company has increased its long term

G);

Pro'ita*i(ity Ana(y i J

The ability of company to generate profitsBreturns for the o ner.

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Item inc($dedJ Tota( A et 3roperty, plant A ;quipment ,perating fi.ed assets )apital or( in 3rogress !ntangible Assets !n"estment 3roperty Long term !n"estments Long term Deposits Stores, spares and loose tools Stoc( in trade Trade debts Loans and ad"ances Trade deposits and short term payments ,ther recei"ables Ta.ation net )ash and ban( balances Ot#er Sales 5ross profit ,perating profit >et profit Total equity

Concerned year J )urrent year 2:92 Base year 2:99 Ca(c$(ation J

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&inal 'eport

Name o' ratio 5ross ratio

2,+2

2,++ 22K

Re $(t

Rea on 'or c#an%e

profit 29.@K

4nfa"orable Sale increased by 2.<CK )ost increased by 6.99K

,perating profit ratio >et profit ratio

6.9K

7.2:K

4nfa"orable Sale increased by 2.<CK

9.8:K

2.<@K

4nfa"orable Sale increased by 2.<CK

Critica( ana(y i o' pro'ita*i(ityJ The analysis of ability of business to generate re"enues for the o ner indicates that it is unfa"orable in current year in comparison of base year, as all the indicators calculated relating to the o ner are decreasing hich are unfa"orable for the o ner. The ma+or reason of this decrease in the profitability is not only because of the increase in sales but also due to the increase in the cost hich are 2.<C and 6.99K respecti"ely from the base year. The company is also getting the benefit efficiently from the use of the operating fi.ed cost hich also increased a little from the last year hich is 98.79K. The general profitability analysis the business is not able generate the effecti"e returns for the o ner in comparison of the last year. The result sho s that the company1s gross profit sho s fa"orable sales department. hich is the result of the efficient management of the

G)C

Ret$rn Ana(y i J

The ability of company to generate profitsBreturns for the o ner. Ca(c$(ation J

Muhammad Athar Ali

8< 3un+ab 4ni"ersity 5u+ran ala )ampus

&inal 'eport

Critica( ana(y i o' Ret$rnJ The results of return analysis indicate that all indicators are contributing to ards no generation of the return for the o ner. The financial statements indicates that although the resources are decreasing yet and the business has not managed it in a ay that the business is still cannot generating the returns more than the base year, Name o' 2,+2 2,++ Re $(t Rea on 'or c#an%e ratio 'oa 'oe 2K =.<:K 7.<<K 9=.6:K 4nfa"orable >et profit increased by C.69K 4nfa"orable Sale increased by 9=.69K

this is because of the decrease in o ner1s share in the total assets and current assets. ',! cannot be calculated because there is no in"estment outside the business.

COMPAN0 ANAL0SIS
! ha"e done the analysis of Super Asia. *ere ! did the S/,T analysis in hich ! e.amined the strengths, by Super Asia.. ea(ness, opportunities and threats faced

Muhammad Athar Ali

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F), SWOT ANAL0SIS

SWOT ANAL0SIS3 S/,T stands for strengths, ea(nesses, opportunities and t h r e a t s . T h i s i s t h e analysis related to the strengths hich Super Asia proudly ha"e, ea(ness of Super Asia, opportunities hich Super Asia can a"ail to pre"ent from the threats faced to the company and the ea(nesses of the company. The reason to do this analysis is to find out that, hat are the strengths of the company hich can o"ercome the ea(nesses of the company and to determine the opportunities hich can company a"ail to pre"ent the threats to the company. ! ill indi"idually e.amine the strengths, ea(nesses, opportunities and the threats faced by Super Asia here.

Stren%t# 3

Merit trop#y The company has on the merit trophy 2::702::8 of federation of 3a(istan chamber of commerce A industry presented by general per"aiz Musharraf to the chief e.ecuti"e of the super Asia.

6rand name Brand name of super Asia is (no n to almost e"ery person in the country, outside the country and is "ery famous in the home appliances industry.

Good"i(( 1 mar8et S#are The company has build up good ill in the mar(et of 3a(istan and some international countries from a "ery long time through their best ser"ices and best quality products. !t has largest mar(et share through the country in ashing machines.

Sa(e and Mar8etin%

8= 3un+ab 4ni"ersity 5u+ran ala )ampus

Muhammad Athar Ali

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The sales department of the company is "ery strong, and the company conducted "ery strong ad"ertisement for promoting its products. Man$'act$rer and Leader Super Asia is the manufacturer of the ra materials and is a mar(et leader in the ashing machine in the region. Re(ia*i(ity *ighest quality products in the mar(et as determined by the customer and distributor feedbac(, 3roducts are reliable and according to the customer needs.

Wea8ne e 3
Price 3rices of the products are high other than the competitors price. Poor Sa(e Some sales segments of the company are ea( li(e in Baluchistan and some areas of Ghyber 3a(htoon(h a 3ro"ince due to terrorism in those areas.

Demand and $pp(y o' (a*or The labor demands relutent time and more ages but there is strict timing and lo ages due to hich labor left the company and in case the supply of labor going to do n.

Need more a(e peop(e

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Super Asia needs more sales people to enhance its sales and increase mar(et share through sales agents. De(i&ery and ot#er operationa( ta'' need trainin% The deli"ery persons, labor, and other departmental members of the company are not properly trained hich is also a ea(ness of the company. C$ tomer er&ice ta'' need trainin% The customer ser"ice officers are not properly trained due to loses its customers. hich company

Opp$rt$nitie 3
Go&erment Po(icy Due to go"erment policy of lo increase their e.ports. Late t Tec#no(o%y Due to the strong financial position of the company, the management can use the latest technology in their products And can ad"antage. e.port duty, Super Asia has oppertunities to

6rand Name Super Asia MDS can use its brand name in the international mar(et to increase their sales of &ans li(e sale of their /ashing Machines.

Sa(e Promotion As the company is financially "ery strong, so it can use ;lectronic and print media to increase its sales by sales promotions campaigns li(e ad"ertisements etc.

In&e tment opport$nity

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They should in"est in the SB4s li(e Air )onditioner and Micro a"e ,"en hich ha"e lo mar(et share and "ery lo gro th rate in the national mar(et. Internationa( E?#i*ition Super Asia should participate in the international industries e.hibition. !t is a big opportunity for the company to create the a areness of its bran in the international mar(ets, and by this their sale can be increased. Ne" Prod$ct The competitors of the super Asia ha"e lo that1s hy super Asia can create ne line. By this it can higher profit margins. Ot#er Super Asia could e.tend its sales to other ma+or countries of the orld. )an and poor quality products, so

products and can increase its product

hire ne specialist of the rele"ant field. Launch more schemes for the products in order to attract customers. )ould see( better supplier deals. Search other suppliers ho supplied ra material at lo costs.

T#reat 3
C#ina )hinese Technology is the "ery big threat to Super Asia.

Competitor ,ther competitors of super Asia are offering the same products at the relati"ely lo prices and gi"ing best ser"ices to the customers. The ne companies are also creating competition in the mar(et.

Sty(o

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Stylo

ashing machine is in"ested a hea"y budget in the promotion of their

products by raising the slogan Q3urani do nai loI Po"er Cri e )urrent po er and electricity crises are "ery big hurdle for the manufacturing unit of the company. Due to the shortage of electricity the company may be unable to meet their orders. Comp(aint The complaints in some particular SB41s li(e Motorcycles is a big threat to the brand name of the company. Go&ernment En&ironmenta( Factor Any go"ernment legislation could affect the business and ;n"ironmental effects ould fa"or larger competitors and can be harmful for the compnay1s , n production. Sea ona( Demand The demand of the products of the super Asia is seasonal based. Li(e in inter season the sale of geysers and in summer season the sale of fans and room coolers are there.

H), CONCL.SION
This report is significant in understanding the real life industry situations and the corresponding mar(et conditions of operating in a highly competiti"e industry. This report completely analyses all important departments of the Super Asia

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)ompany and is "ery useful in determining based industries.

hat the mar(et is li(e in such electronic

&rom the research carried out, it can be inferred that the electronics industry is highly competiti"e here in 3a(istan as the country is on the road to industrialization. This competiti"e en"ironment has enabled "arious local companies to +ump in and pro"ide something different to the consumers. The de"elopment of such industries li(e Super Asia #3"t$ Ltd has enabled the merger of quality and lo cost manufacturing. !t is encouraging to see that Super Asia in e.panding its scope of operation almost e"ery year and is engaging in different sorts of businessesE for e.ample, fast food #*ardees$. The research has sho n that Super Asia is doing quite ratios pro"es that the company is margins. !f the companies S/,T analysis is ta(en into account, e can see that that ell if its financial

position is ta(en into account. The financial analysis based on different financial ell able to meet its costs and maintain profit

company possess a "ery strong mar(eting channel that enables its products to be sold in the mar(et. The company is by far the mar(et leader in many of the electronics section especially the them$ if necessary. *o e"er, coming o"er to its ea(nesses, it can be concluded that the ashing machine section hich gi"es it a reliable edge o"er its competitors. Therefore, the company is able to maintain its operations #and e"en gro

company needs to focus on the high prices of its products in the mar(et that could become a problem if the company does not consider its increasing manufacturing and labor costs. Therefore, Super Asia needs to control its costs. Apart from the abo"e, Super Asia also needs to consider the fact that it is mostly present in the Sindh and the 3un+ab pro"inces of 3a(istan, hereas it ould be "ery significant if the company maintains at least a nation ide presence through opening its factories, distribution channels and customer ser"ices operations in ma+ors cities of Baluchistan and Ghyber 3u(htoon(h a. This to present itself to these ma+or areas of 3a(istan as met ith a reliable demand.
Muhammad Athar Ali @7 3un+ab 4ni"ersity 5u+ran ala )ampus

ill surely enable the company here its products ould be

ell

&inal 'eport

,ther than these internal strengths and sur"i"e in the competition.

ea(nesses of the company, Super and

Asia should also consider e.ternal opportunities and threats if it has to gro

Loo(ing at the opportunities a"ailable to the company, it can be concluded that Super Asia has to e.ploit the ma+or ad"antages of quality that it possess. !t is important to note that other local manufacturers of electronic products do not deli"er such high standards of quality and ser"ice as compared to Super Asia. *ence, the company should strictly mar(et this element to the people it ser"es in order to de"elop a competiti"e ad"antage o"er its competition. ,n the other hand, Super Asia should also focus on the threats that might emerge in the electronics mar(et as a result of increased go"ernment control or legislation affecting the profits of the company. !t is "ital to stay in touch ith all the sta(eholders of the industry in order to +ointly negotiate ith the go"ernment. Apart from this, the company should consider the en"ironmental costs of running the business as negligence on this part can fa"or the competitors and can pro"e disastrous for the future of the company. >e"ertheless, Super Asia despite all the challenges and hurdles facing the industries in the country is performing quite ell and therefore is on the path to gro th. /ith sound future planning and forecasting, there is no doubt that the organization ill not only do good to its customers, but ill also ma(e good profits in the long run.

+,), RECOMMENDATIONS3
Key Pro*(em and So($tion 3 There is no uniformity in costing the materials issues. &!&, as ell as L!&,

and e"en

eighted a"erage method are also used at time. According to management,

these methods are used for profit0smoothing.

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S$%%e tion3 This is a clear "iolation of !AS02,

hich prohibits L!&, as a method of hich

costing material issues. This practice also "iolates &rame or( and !AS C,

require the policies to be consistent unless change is compelled by reasonable circumstances. This practice should be abolished as no material benefits are gained from it.

3roduction facility is not in ideal format. The layout is not designed

intelligently. &or eg. &an body first has to go for threading and then for drilling. But in production layout, drilling section comes before the threading section. 3ainting and production departments are distant. This reduces the efficiency and time and energies. S$%%e tion3 Layout should be designed intelligently. Though not much needed, but if company feels, a specialist can be hired temporarily to design the layout. !t certainly sa"e a lot of cost by impro"ing efficiency. ill astes precious

There is no special arrangement to (eep an eye on the labor. Many

departments are distant from each other and some super"isors are not enough to (eep an efficient ath on such scattered production facility. S$%%e tion3 )ameras should be placed in production facility to (eep an eye on the labor. By this, efficiency of labor definitely increases. !t also ensures that labor is using safe or( practices.

Time in and out is mar(ed and recorded manually. This is not an efficient

practice. !t also requires manual or( and records. S$%%e tion3 )ard punching system should be used instead. Separate soft are, parallel to but connected ith the accounting soft are, should be used. !t ill also remo"e or at least reduce many problems of costing labor and generating payrolls.

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Safety measures are not up to the mar( in production processes. Labor force is

not equipped ith proper safety equipments and dresses. This increases the chances of accident, causing increase in cost. Also, it is a se"ere "iolation of labor la s and la of morality. 3ro"iding labor or( ith better efficiency. S$%%e tion3 Labor should be pro"ided safe en"ironment and equipments. A separate team can be made to ensure safety measures. ith such equipments creates a sense of satisfaction in their mind that their company cares for themE consequently, they are moti"ated and

)ompany can be regarded as a company ith company policy

ith all po ers concentrated in fe ith it. Mostly,

hands. JesR Decision ma(ing is highly centralized. This centralization e"en causes a disregard hen directors1 orders confront directors1 orders are preferred to company policy. Managers become loyal to directors and not ith company. S$%%e tion3 3o ers should be delegated to lo er ran(s to ensure faster decision ma(ing and inno"ation. , ners should fight the fear in their minds that empo ering employees ill cause their po ers to die. This approach is not good uni"ersally.

)osts of 3roduction reports are not regularly prepared. This is not merely a asted and hich one is being used efficiently. Also efficient or other ise purchasing is not

documentary deficiency. !t cannot be decided that hich material is being pointed out. S$%%e tion3 monthly. This practice.

A proper cost of production report should be maintained at least ill ensure strict atch on the astages and ould definitely pro"ide

benchmar(s for impro"ement. )ontinuous cost efficiency is not possible ithout such

!n Super Asia )ompany, there is no separate head of department for Accounts,

Mar(eting and 3urchase departments. ,nly lo er managers are handling these departments. They report to the directors of the company directly, most of the times.
Muhammad Athar Ali @< 3un+ab 4ni"ersity 5u+ran ala )ampus

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The lac( of proper chain of command coupled command and impro"ement methodologies.

ith absence of proper qualified

person on the head seat of each specialized function causes problems in chain of S$%%e tion3 There is a need of separate *ead of Department for e"ery department hich ould not only run the operations of the department but ill also report to the ill director of the company. That ill increase the efficiency of the operations of the

department and also ma(e a proper chain of command in that organization. This also increase the chances of impro"ement and ad"ancement of functional areas.

The allocation of the budget to mar(eting department is insufficient. The for running their mar(eting and promotion campaigns. This ill boost up the sales. The increased

company allocates 2.8K to 6.8K of their total budget to their mar(eting department. This budget is "ery lo causes a potential decrease in sales causing per unit fi.ed cost to rise. S$%%e tion3 !ncreasing mar(eting budget amount of sold units price competiti"eness. ill cause a reduction in per unit fi.ed cost resulting in better

There is no separate *uman 'esource Department in the company. ,nly a ho handles all the responsibility of that

*uman 'esource Manager is there

department. The *' functions are not performed properly causing inadequate hiring and performance e"aluation. This results in uns(illed people to ta(e their place in company practices. S$%%e tion3 *' functions should be performed in a better manner. *iring should be done through a proper and merit based channel to ensure right people are present at the seats. ithout passing a proper channel. Also de0moti"ation is also a fruit of such

&i.ed Asset handling in not adequate. >o fi.ed asset register is maintained.

Depreciation methods are not properly defined.

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S$%%e tion3 There should be a separate &i.ed Asset officer to ta(e care of and (eep records of the precious &i.ed Assets of the company to ensure better handling documentation along ith a"oidance of maintenance and theft losses.

++), LIMITATIONS

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&inal 'eport

Time Con traint 3 The report as prepared in the assigned time limit of about 2 months during as carried out through the internet #as secondary

hich ample research

source$ and "ia primary research #inter"ie s and e.tracts conducted$. Therefore the research as bound by the allotted time frame. So$rce o' In'ormation3 The ma+or source of information as the e.perience gathered from the @

ee(s internship carried out at Super Asia *ead ,ffice 5u+ran ala under the direct super"ision of Mr. Muhammad !qbal #Accounts Manager$. During the internship at Super Asia, "arious other departments and different personnel from these departments different aspects of the report. Apart from this primary source of data, other sources of collecting information included the internet and the published ritten material. These included "arious articles and official Super Asia eb portal publishing. Co t Con traint3 This report is prepared ithout any contribution from a any academic or as collected by research ere "isited

ere inter"ie ed regarding

publishing institution. All the data present

#secondary A primary$ and therefore, the report incurred no ma+or costs apart from general e.penses #transport, internet, printing A binding$. This e.penditure as necessary to produce the report and is considered enough to produce the required piece of information.

+2), 6I6LIOGRAP!0
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Branch ,ffice !nfromation of Super Asia. 'etrie"ed, from http%BB .superasia.bizBser"ices.html

)ustomer care information of Super Asia retrie"ed from http%BB .superasia.bizBser"ices.html

!ntroduction of super Asia MDS p"t ltd retrie"ed from http%BB .superasia.bizBaboutus.html ith Director #Mr. &aisal Afzal$ at Super Asia *ead ,ffice.

!nter"ie

!nter"ie ,ffice

ith Accounts Manager #Mr. Muhammad !qbal$ at Super Asia *ead

!nter"ie

ith *uman 'esource Manager #Ma+or Muhammad Subair$ at

Super Asia *ead ,ffice !nter"ie ,ffice !nter"ie ith &inance Manager #Mr. Shahid$ at Super Asia *ead ,ffice ith Mar(eting Manager #Mr. *afiz Shabbir$ at Super Asia *ead

3roducts of Super Asia *ome Appliances at Super Asia /ebsite. 'etrie"ed, from http%BB .superasia.bizBproducts.html

Super Asia /eb 3ortal. 'etrie"ed from http%BB .superasiagroup.comBgroupcompanies.html

Muhammad Athar Ali

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&inal 'eport

+4), GLOSSAR0

6roc#$re 0 a boo(let of printed informational matter, li(e a pamphlet, often for promotional purposes #3age 27$

Compen ation 0 something gi"en or recei"ed as an equi"alent for ser"ices, debt, loss, in+ury, suffering, lac(, etc.E indemnity% The insurance company paid him T2::: as compensation for the loss of his car. #3age 69$

Standard Co tin% E is usually associated

ith a manufacturing company-s

costs of direct material, direct labor, and manufacturing o"erhead. #3age 66$ Proce Co tin% 0 is an accounting methodology that traces and accumulates

direct costs, and allocates indirect costs of a manufacturing process. #3age 66$ AdE#oc Report 0 generally signifies a solution designed for a specific problem or tas(, non0generalizable, and purposes. #3age 66$ FIFO 0 stands for first0in, first0out, meaning that the oldest in"entory items are recorded as sold first. #3age 67$ LIFO 0 stands for last0in, first0out, meaning that the most recently purchased items are recorded as sold first. #3age 67$ hich cannot be adapted to other

Muhammad Athar Ali

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&inal 'eport

+;),

Anne?$re3

Prepared *y3 Muhammad Athar Ali $%&'()*)&$+

Muhammad Athar Ali

<6 3un+ab 4ni"ersity 5u+ran ala )ampus