SUMMER TRAINING REPORT

On
Suppliers Bill Passing & Payment Process
In

WHIRLPOOL INDIA LIMITED

Submitted in partial fulfillment of the degree of

Bachelor of Business Administration
(Computer Aided Management)
Session (2016-2017)

SUBMITTED TO: SUBMITTED BY:

Ms. BHARTI GUPTA AKASHDEEP CHAUDHARY

(LECTURER, BBA DEPARTMENT) BBA (CAM)-5th SEM.

ROLL NO.________

D.A.V CENTENARY, FARIDABAD

(AFFILIATED TO MAHARISHI DAYANAND UNIVERSITY)

1
 Acknowledgement

There are a few things that come in the life of a person, may be for a short span of time, but
leaves on ever shining impression in to the mind. My summer training is one of the events
which will be ever green in my life

I sincerely wish to acknowledge deep thanks for valuable guidance; suggestions and generous
help extended to me by Ms.Bharti Gupta. I thank her for being the source both of helpful
criticism and of encouragement.

I sincerely acknowledge them for extending their valuable guidance, support for literature,
critical review of the project and report and above all the morale support they have provided
me with all the stages of the project.

I take this opportunity to thank all the members of Whirlpool India Ltd. who directly and
indirectly helped me in completing my report.

I would also like to thank the supporting staff of DAVCC, (Faridabad) for their help and
cooperation throughout the project.

Akashdeep chaudhary

2
 PREFACE

This project is designed as the final report of summer training. Main aim has been to give
update information about suppliers bill passing and payment system to different companies.
Main focus to study this project is to know about the procedure and need of a bill passing and
payment system for a organization. And give information about the bill passing system
software SAP. What a cost of per bill passing & payment in an organization.

Akashdeep chaudhary

BBA (CAM) - 5th Sem.

3
 INDEX

CHAPTER TOPIC PAGE

NO.
Chapter 1 INTRODUCTION OF THE TOPIC
Chapter 2 COMPANY PROFILE
Chapter 3 REVIEW OF LITERATURE
Chapter 4 RESEARCH METHODOLOGY
OBJECTIVES OF THE STUDY
SCOPE OF THE STUDY
RESEARCH DESIGN
a) DATA COLLECTION
LIMITATIONS OF THE STUDY
Chapter 5 DATA ANALYSIS AND INTERPRETATION
Chapter 6 CONCLUSION AND SUGGESTION
Chapter 7 ANNEXURE
BIBLIOGRAPHY

4
 Chapter-1

Introduction of the
Topic

5
 Introduction of suppliers bill passing & payment system

Bill passing and payment system is long and continuous procedure in all manufacturing
organizations. In a manufacturing organization it collect its raw material from many
suppliers. The suppliers may be in hundreds, in thousands and a thousand types of products
are purchased from them. So the main question is to maintain record of these suppliers and
their all products. Because a lot of issues will rise if we are fail to maintain it.

A bill is a commercial document issued by a seller to a buyer, relating to a sale transaction

and indicating the products, quantities, and agreed prices for products or services the seller
had provided the buyer.

Payment terms are usually stated on the bill. These may specify that the buyer has a
maximum number of days in which to pay and is sometimes offered a discount if paid before
the due date. The buyer could have already paid for the products or services listed on the
invoice.

In the rental industry, a bill or an invoice must include a specific reference to the duration of
the time being billed. So in addition to quantity, price, and discount, the bill amount is also
based on duration. Generally, each line of a rental bill will refer to the actual hours, days,
weeks, months, etc., being billed.

So a better bill passing system is need of todays organizations. In a bill passing and payment
system it matches the amount and quantity of a bill with the order placed and takes the credit
of excise duty. Then pass this bill for payment and pay it by any payment procedure it may be
cheque or RTGS.

Bill passing helps in simplify the work of manufacturing accounting because many products,
many suppliers and all their issues. It all depends upon the SAP system.

SAP stands for system, application and product in data processing.

SAP system provide a separate identity & coding to its every terms and simplify it. These
coding and terms are always helpful and useful in process.

6
 SAP BILL PASSING CODES (TRANSACTION CODES)

F-36 - bill of Exchange Payment FI

F-20 - Reverse bill Liability FI
CS12 - Multilevel BOM Logistics -
F-33 - Post bill of Exchange Usage FI
FBWE - bill/Exch. Presentation - International
FBZG - Failed Customer Payments
CS13 - Summarized BOM Logistics
VF05N - List of billing Documents SD
F-40 - bill of Exchange Payment
FTR03 - bill of Exchange Transactions
CS20 - Mass Change: Initial Screen Logistics
F-34 - Post Collection
F-06 - Post Incoming Payments
EA16 - Create Manual Back billing
MCS1 - Standard Analyses; General Logistics Logistics
FBW4 - Reverse bill Liability
CS40 - Create Link to Configurable Material Logistics
VBN2 - Free goods - Change (SD) SD - Conditions
OME2 - C MM-PUR Terms of Payment MM - Basic Functions
ABAO - Asset Sale Without Customer FI - Basic Functions
CS26 - BOM deletion Logistics
J1IUN - Forms tracking
CS63 - Display Order BOM Logistics
FBW3 - Post bill of Exchange Usage
FBW6 - Vendor Check/bill of Exchange

A payment system is any system used to settle financial transactions through the transfer of
monetary value, and includes the institutions, instruments, people, rules, procedures,
standards, and technologies that make such an exchange possible. A common type of
payment system is the operational network that links bank accounts and provides for
monetary exchange using bank deposits.

7
What makes a payment system a system is the use of cash-substitutes; traditional payment
systems are negotiable instruments such as drafts (e.g., checks) and documentary credits such
as letters of credit. With the advent of computers and electronic communications a large
number of alternative electronic payment systems have emerged. These include debit
cards, credit cards, electronic funds transfers, direct credits, direct debits, internet
banking and e-commerce payment systems. Some payment systems include credit
mechanisms, but that is essentially a different aspect of payment. Payment systems are used
in lieu of tendering cash in domestic and international transactions and consist of a major
service provided by banks and other financial institutions.

Payment systems may be physical or electronic and each has its own procedures and
protocols. Standardization has allowed some of these systems and networks to grow to a
global scale, but there are still many country- and product-specific systems. Examples of
payment systems that have become globally available are credit card and automated teller
machine networks. Specific forms of payment systems are also used to settle financial
transactions for products in the equity markets, bond markets, currency markets,futures
markets, derivatives markets, options markets and to transfer funds between financial
institutions both domestically using clearing and real-time gross settlement (RTGS) systems
and internationally using the SWIFT network.

The term electronic payment can refer narrowly to e-commercea payment for buying and
selling goods or services offered through the Internet, or broadly to any type ofelectronic
funds transfer.

8
 Chapter-2

Company Profile

Whirlpool India ltd.

The worlds no.1 appliance company came to India in 1987, through a joint venture with
sundram Clayton limited.
Since then, the whirlpool brand has been warmly received by Indian homemakers and its
innovate products have a permanent place in homes across the country.

9
 Over the years our unrelenting focus on understanding consumers innovation quality and
safety combined with strong operational capabilities has resulted in creating a strong
brand a portfolio of well differentiated products and a healthy balance sheet. The result
beyond greater market share is an emotional connection with people that will hold us in
good stead as we embark on a journey of accelerated, portfolio growth.

Whirlpool Corporation is a principal supporter of Habitat for Humanity, a nonprofit

organization dedicated to building low-cost, affordable housing. The company's
commitment to Habitat for Humanity has exceeded $34 million and it has donated more
than 73,000 appliances for Habitat homes. The company plans to support every Habitat
home built globally by 2011, either through product donations, cash, or home
sponsorship.

100 years of innovation

Happiness begins at home. This belief has shaped a century of innovation, growth and
achievement at Whirlpool Corporation, propelling our expansion from modest beginnings to
our present-day status as the worlds no.1 home appliance company.
As we enter 2011, our 100th year in business, we celebrate a century of innovations that have
helped create the modern household. For a hundred years, providing products that meet
specific consumer needs and doing business with both integrity and character has been our

10
hallmark. Business upon our strong heritage and values is what will foster profitable growth
and the creation of long-term value for our shareholders.

Whirlpool of India is well-positioned to take advantage of the ample opportunities that exist
as we enter our next century in business. Our vision of every home, everywhere reinforces
that every home is 0our domain, every customer an opportunity. This vision defines our
purpose in India, inspiring us to provide innovative solutions that uniquely meet the needs of
our consumers. We bring this vision to life through the power of our unique global enterprise
and our outstanding people, working together everywhere. Past, present or future, our focus
as always, is on improving the lives of people and creating happier homes.
Chronology

Year

1911 Louis and Emory Upton founded the Upton Machine Company on November 11,
1911. With the financial aid of Lowell Bass ford, they began to produce electric,
motor-driven wringer washers. Soon after its founding, Lou Upton's younger brother
Fred joined the company and was an integral part of the business.

11
 Federal Electric ordered 100 machines, but a gear failed in the transmission of
them. Louis Upton immediately replaced them at no cost to Federal Electric, who was
so impressed with Upton's ethics, they immediately doubled their order.

Sears, Roebuck & Co. began selling Upton manufactured machines under the "Allen"
1916
brand, one for $54.75 and a deluxe model for $95.
Upton merged with Nineteen Hundred Washer Company of Binghamton, New York,
1929
taking the name Nineteen Hundred Corporation.
Nineteen Hundred Corporation began converting all of its factories for war
1942
production.
Nineteen Hundred Corporation begins manufacturing appliances for John Inglis and
1946
Company of Canada.
1949 First top-loading automatic washer sold manufactured for sale under Sears' brand.
The Nineteen Hundred Corporation was renamed as the Whirlpool Corporation, and
1950
sold its first top-loading automatic washer sold under the Whirlpool brand.
Establishment of the Whirlpool Foundation, a philanthropic arm of Whirlpool
1951
Corporation.
Acquires Seeger Refrigerator Company and RCA's air conditioner and cooking range
lines including ownership of RCA's Estate brand name. Company changes its name to
1955 Whirlpool-Seeger Corporation and began using the RCA-Whirlpool brand name until
the mid-1960s. Whirlpool acquires appliance division from International Harvester
Company.
1956 Opened a 100-acre (0.40 km2) administrative centre in Benton Harbor, Michigan.
The RCA Whirlpool Miracle Kitchen was introduced with an estimated 15 million
1957 television viewers. The company changed its corporate name back to Whirlpool
Corporation.
Won NASA's contract for the development of the feeding and waste systems
1962
for Project Gemini.
1966 Whirlpool drops the RCA name so the brand name becomes Whirlpool.
1967 Introduced a 24-hour helpline.
1968 Surpassed $1 billion in annual revenues.
1978 Surpassed $2 billion in annual revenues.
1986 Acquired Kitchen Aid, a division of the Hobart Corporation.
Began selling compact washers in India and acquired majority interest in Inglis of
1987
Canada.

12
 Begins a joint venture with Philips called Whirlpool International with Whirlpool
1988 owning 53% of the company. The joint venture was formerly Philips' major appliance
subsidiary.
Acquired the Roper brand and Bauknecht of Germany.
1989
Surpassed $6 billion in annual revenue.

Whirlpool becomes full owner of Whirlpool International by buying Philips' 47%

1991
stake.
Acquired majority stake on Embraco, a Brazilian world-leading maker of compressors
1997
for refrigeration.
Acquired Brazilian appliance maker Multibrs, owner of the
2000
brands Brastemp and Consul, including its stake on Embraco.
Inglis Ltd. changes its name to Whirlpool Canada. Whirlpool continues to market
2001
Inglis appliances to this day. Surpassed $10 billion in annual revenues.
2002 Surpassed $11 billion in annual revenues.
2003 Surpassed $12 billion in annual revenues.
2004 Surpassed $13 billion in annual revenues.
Maytag Corporation shareholders voted to accept Whirlpool Corporation's stock

2005 purchase. U.S. Justice Department began a review of the merger.

Surpassed $14 billion in annual revenues.

Acquired the Maytag, including the Maytag, Jenn-Air, Amana, Jade, Magic
Chef, Admiral, Hoover, and Dixie-Narco brands, after Justice Department approved
2006 the merger. Sold Dixie-Narco to Crane Co., and Amana Commercial to AGA.

Surpassed $18 billion in annual revenues.

Sold Hoover to Techtronic Industries, TTI Floor care and Jade Appliances to Middle
by. Also closed plants in Newton, Iowa; Searcy, Arkansas; and Herrin, Illinois. This
2007 resulted in the sudden loss of 4500 jobs in the affected communities.

Surpassed $19 billion in annual revenues.

2008 Location closings in La Vergne, Tenn; Reynosa, Mexico; and Oxford, Miss.
Whirlpool acquired WC Woods from Bankruptcy and to keep Ottawa, OH plant open;
2009 Whirlpool to close Evansville plant; Whirlpool has received $19.3 million in U.S.
Department of Energy funding as part of its Smart Grid Investment Grant program
2010 Whirlpool announced plans for its 100th Anniversary in 2011 and unveiled its 100th

13
 Anniversary logo as well as an updated corporate logo. Also, took over former
KarstadtQuelle brand Privilege from Otto Group.

VISSION & MISSION

Every Home, everywhere, with pride, passion & Performance

To Rests on the pillars of innovations, operational excellence, customer-centric

approach and diversified talent. These are embedded with our business goals, strategy,
process and work culture Be it our products that are the result of innovation and
operational excellence to meet every need of consumers or the people behind these
products that come from a wide spectrum of backgrounds, everything we do features a
distinct whirlpool way.

CORE COMPETENCIES

OPERATIONAL
INNOVATION EXCELLECE

CUSTOMER
EXCELLENCE

INNOVATION:
Unique and compelling solutions valued by our customers and aligned to our brands
create competitive advantage and differentiated shareholder value.

OPERATIONAL EXCELLENCE (OPEX):

14
 A methodology for solving problems & continuous improvement of product &
process through pursuit, acquisition, and utilization of knowledge using critical
thought and planned experimentation helps us achieve operational excellence.

CUSTOMER EXCELLENCE:

Excelling the customer expectations from the company, its brand, products and
services are a three-step process. The three steps are: Know a customer, be a
customer, serve a customer.

Whirlpools achievements
Whirlpool honored with two if product design awards 2009 for glamour oven and green
kitchen design concept
Whirlpool Corporation has been honored with two if Product Design Awards
2009, respectively, for the Whirlpool Glamour Oven and for GREENKITCHEN,
a kitchen eco-system design concept. The announcement was made in Nov 08 by
the if Industry Forum Design GmbH., and represents GREEN Kitchen's second
design award in the past two months, following its Gold SPARK Award, won in
October 2008.

2009: Whirlpool was voted Product of the Year and received the award for
the 'Best Innovative Product' in the popular refrigerators category. This
was based on 40,000 consumers across 36 towns in India voting
Whirlpool Frost Free Refrigerators with 6th sense as the Best Innovation
in the Popular Refrigerator Category.

2009: Hewitt Best Employers in India 2009 Study

15
 2009: Named one of the 100 Best Corporate Citizens by Chief
Responsibility Officer (formerly Business Ethics) magazine in 2009 and
from 2000-2007
2008: Included in the Dow Jones Sustainability, FTSE4Good and KLD
Global Sustainability Indexes, three of the worlds most comprehensive
reviews of sustainable business practices

2008: Named one of the 2008 Worlds Most Ethical Companies by

Ethisphere magazine

2008: Whirlpool OF India was awarded the NDTV Profit Business &
Leadership Award 2008 for The Best Consumer Durables Company.

2008: The year 2008-09 saw Whirlpool India achieve great milestones in our attempt to
be an Employer Of Choice.

2008: The Business Today - Mercer -TNS Study 2008. Top 20 Best
Companies to work for in India

WHIRLPOOL A GLOBAL BRAND FOR EVERY HOME

Today whirlpool have different-different product for different room according to

conditions of consumers expectations and his demands. Now we discuss some
popular and famous product of whirlpool have:-

THE ACTIVE BALANCER

Whirlpool the flagship brand of the company, strives to help families

manage their ever busy lives with innovative products that help them get more done.
The legacy of insight driven innovation has made whirlpool the NO.1 home
appliance brand in the world.

16
 MAYTAG
THE DEMAND LOYALIS
Appliances under the Maytag brand have been synonymous with dependability and
durability. Their strength and durability are conveyed through powerful good looks
and solid internal engineering.

KITCHENAI
FOR THE WAY ITS MADE
THE HOME ENTHUSIATS
The kitchen aid brand is for those people who are passionate about cooking. In
response to consumers inspired by the quality of their kitchen aid counter top and
major appliances-the brand now offers virtually anything a cook may need in the
kitchen. From cooks ware and measuring cups to pantry ware and cookbooks, this
brand has it.

JENN-AIR
THE LOVE OF COOKING
The jinn-air brand offers refined kitchen appliances that deliver beautiful results. It
takes the lead on style and performance, appealing to the consumer who loves to
entertain this uncompromising taste and pays Attention to detail.

AMANA
THE PRACTICAL STYLE -SEEKER
The Amana brand is for down-to-earth consumers who want to create a pleasant
atmosphere in their homes and seek quality and style at an affordable prize

BRASTEMP
THE TRENDY COSMOPOLITAN

17
The Brastemp brand, the No.1 home appliance brand in Brazil, helps consumers
express their sense of style and individuality while freeing them to do the things they
like to do.

CONSUL
THE CLOSE-KNIT COSMOPOLITAN
The consul brand is close and intimate with its consumers and is considered a part of
their homes and family heritage.

WHIRLPOOL MANUFACTURING FACILITIES IN INDIA

Whirlpool has manufacturing facilities at 3 places:-

PRODUCTS PLACE YEAR

Washing machines Pondicherry , Madras Started April94

Refrigerators Faridabad, Haryana Started Feb95

CFC
Free Refrigerators Ranjangoan ,Pune Started march98

18
 Broadly, WOILS product mix width consists of :

Washing Machine Washer

-T1

Refrigerators -Ref
-T2

AC -
-T3

Ovens and microwaves oven and micro -

-T4

Water purifiers
-T5

Built in Appliances
-T6

T1 and T2 are the categories which are WOILs core competing areas.

19
T3 is gaining popularity.

WOIL Water purifier range Pura Fresh is being given special attention by WOIL
as the technology used for the Reverse osmosis (RO) requires repeat purchase of a
membrane and filter.
Hence, one RO sold will generate multiple repeat purchases generating assured cash
flow for WOIL. This is the reason why heavily funded push and pull strategies, like
hiring more Temp REs and launching the Purafresh Ad on TV respectively, are
being executed. WOIL, premium Built-in-Appliances were launched in 2007 and
have witnessed significant sales. However, the premium market still not completely
ready for such heavy spend hence is still a niche one.

Whirlpool made for India

Refrigerator

The 3-door protton world series refrigerator in 300 &

350 ltr. Capacity achieved rapid success , acquiring
over 30% of market share.

Air conditioner

The introduction of colors and graphics in air

conditioners saw the category grow by 85%.

Washing machine
20
.

Washing takes efforts and time. The consumer

insight inspired whirlpool to launch the ace wash
station in the washing machine category. Its path
breaking design provided the user with a platform
for the sorting of clothes, thus raising
convenience to a new level by saving time effort.

Microwave

Two new models were launched in microwaves which

helped the category grow by 80%. In the pipeline are more
innovative products to help make food preparation easier
and better for consumers.

Water purifier

Keeping with the profit of water you can trust whirlpool

introduced the mineral reverse osmosis water purifier
range. With a unique mineral enrichment system that adds
essential minerals to purified water and a ceramic that
prevents the re-contamination of purifier water, this range
already accounts for more than 30% of RO water purifier
sales.

21
Chapter-3

REVIEW
22
 OF
LITERATURE

REVIEW OF LITERATURE

According to Mr.Xiaoling Dai The current macro-payment systems used by most e-

commerce sites are not suitable for high-volume, low-cost produce or service purposes, such
as charging per page for Web site browsing. These payment technologies suffer from the use
of heavyweight encryption technologies and reliance on always-online authorization servers.
Micro-payment systems offer an alternative strategy of pay-as-you-go charging, even for very
low-cost, very high-volume charging. However, several different micro-payment schemes
exist, not all of which are suitable for all e-commerce uses. We compare and contrast several

23
micro-payment models and outline a new micro-payment technology which we have been
developing.

According to Mr. Donald E. McElheny, Jr A bill pay system wherein participating

consumers pay bills to participating billers through a payment network operating according to
preset rules. The participating consumers receive bills from participating billers (paper/mail
bills, e-mail notices, implied bills for automatic debts) which indicate an amount, and a
unique biller identification number. To authorize a remittance, a consumer transmits to its
bank (a participating bank) a bill pay order indicating a payment date, a expense amount, the
consumer's account number with the biller, a source of funds and the biller's biller
identification number, either directly or by reference to static data containing those data
elements. Bank then submit message to payment network, and the payment network, which
assigns the biller reference numbers, forwards the payment message to the biller's bank.

For settlement, the consumer's bank debits the consumer's account and is obligated to a net
position with the payment network; likewise, the biller's bank receives a net position from
the payment network and credits the biller's bank account. If the consumer's bank agrees to
send non-reversible payment messages, the consumer's bank does not submit the transaction
until funds are good unless the consumer's bank is willing to take the risk of loss if funds are
not good, in the case of a guaranteed payment network. The biller's bank, upon receipt of
the payment message, releases the funds to the biller, and provides A/R data to biller in a
form which biller B has indicated, the form being one which does not have to be treated as an
exception item to the biller. The biller's bank is assured of payment by the payment network,
unless the transaction is a reversible transaction according to the preset rules of
the payment network. In specific embodiments, the consumer initiates the bill pay orders
manually, via paper at an ATM, via PC, or via telephone keypad.

According to Steven E. Maffeo This study provides a statistical examination of time spans
elapsing between monitor able accounts payable functions within a library acquisitions
context. The data was compiled over a 3-month period at the James A. Michener Library,
University of Northern Colorado, Greeley, Colorado. Dates and other factors were

24
documented and consolidated as invoices passed through definable stages of preremittance
processing. The derivatives were computed providing specific, quantitative system analysis
for internal accountability. These results can be used as a reference for similar analyses.
According to Mr. James Conlow A system and method for direct presentment and clearance
ol bills generated in a hierarchal business organization over a network ol computers
comprises a hierarchal business organization having a plurality ol tiers ol entities related by
common business interests, the tiers including billing entities, each billing entity in
contractual relation with a hiring entity in a superior tier ol the organization, the hierarchal
business organization including at least one paying entity, the system providing for direct
billing by each billing entity to a central business process administrator, direct payment to
each entity by the business process administrator, and for associated inspection ol the entity's
work and clearance ol mechanic's liens

According to Mr. Goeffrey b.saxe The mathematical understandings of 23 10-12-year-old

candy sellers with little or no schooling from Brazil's northeast were compared to 2 groups of
nonvendors matched for age and schooling-a group from the same urban setting and a group
from a nearby rural setting. Children's performances were analyzed on 3 types of
mathematical problems: representation of large numerical values, arithmetical operations on
currency values, and ratio comparisons. Vendors and nonvendors alike had developed
nonstandard means to represent large numerical values, an expected result since problems
involving large values emerge in the everyday activities of each population group. Most
vendors, in contrast to nonvendors, had developed adequate strategies to solve arithmetical
and ratio problems involving large numerical values, also an expected finding since these
problem types emerge frequently only in the everyday activities of the vendor population.
The findings are interpreted as supporting a model of cognitive development in which
children construct novel understandings as they address problems that emerge in their
everyday cultural practices.

According to Mr. Stephen R. Tkacs A bill pay system wherein participating consumers
pay bills to participating billers through a payment network operating according to preset
rules. The participating consumers receive bills from participating billers (paper/mail bills, e-
mail notices, implied bills for automatic debits) which indicate an amount, and a unique biller
25
identification number. To authorize a remittance, a consumer transmits to its participating
bank a bill pay order indicating a payment date, a payment amount, the consumer's account
number with the biller, a source of funds and the biller's biller identification number, either
directly or by reference to static data containing those data elements. Bank C then submits
a payment message to a payment network, and the payment network, which assigns the biller
reference, numbers, forwards the payment message to the biller's bank. For settlement, the
consumer's bank debits the consumer's account and is obligated to a net position with
the payment network; likewise, the biller's bank receives a net position from
the payment network and credits the biller's bank account. If the consumer's bank agrees to
send non-reversible payment messages, the consumer's bank does not submit the transaction
until funds are good unless the consumer's bank is willing to take the risk of loss if funds are
not good, in the case of a guaranteed payment network.

According to Mr. Penny Lunt If banks take on as strong a role in payments made on the
Internet as they do in the traditional payments world, they can make a lot of money passing
funds around and issuing credentials for consumers and merchants. On the other hand, if
MCI, AT&T, or other companies decide banks are moving too slowly and that they've got to
set up their own online payment system, they'll handle the profitable business and banks will
end up just doing the back-end processing, warns Michael Karlin, president and chief
operating officer of Security First Network Bank. If banks don't take the initiative, "money
will get sucked out of that piece of the business," says Karlin. A subsidiary of Cardinal
Bancshares, Lexington, Ky., Security First's one location, an Internet site, was scheduled to
open Oct. 18.
In 1994, $4.6 trillion worth of retail and wholesale purchases were made around the world,
according to research firm Killen Associates, Palo Alto, Calif., which recently produced a
report on Internet commerce for MCI. About 13% of those purchases, $595 billion worth,
were made remotely, by catalog, TV, electronic data interchange, and on-line networks
including the Internet. All of these purchases will start gravitating toward the Internet during
the next ten years. While actual Internet purchases were negligible last year, Killen projects
that people and businesses will buy $600 billion in goods and services on the Internet in the
year 2000 and $1.25 trillion in 2005.

26
This is backed up by a survey consulting firm Global Concepts Inc., Atlanta, conducted for
Visa, MasterCard, and VeriFone. While only 32% of Internet users said they currently shop
on the Internet, 90.7% said they plan to in the future.
Killen estimates there will be seven billion Internet payments made in 2000 and 17 billion in
2005. Assuming a typical transaction fee of $1.50, the organizations that dominate Internet
commerce will take in $11 billion in 2000 and $26 billion in 2005. (The costs will probably
be 50% to 60% of that.)
Both nonbanks and banks have a head start in the embryonic Internet retail payment system,
which so far includes only credit card and off-line debit card payments. Such nonbank
companies as First Virtual, Cyber Cash, Netscape, and Open Market are facilitating the card-
based transactions. But banks' cardholder and merchant relationships are, so far, intact
because the actual credit card clearing and settlement process is the same as it normally is.
Except, that is, that the Internet provides new opportunities for hackers and others to steal
credit card numbers and commit fraud.
New types of payments are coming to the Internet: electronic checks, on-line debit, and
electronic cash. The Global Concepts survey showed that Internet users want such options.
Asked to rate on-line payment options one to five, the respondents ranked credit cards 3.66,
digital cash 3.33, checking accounts 3.25, ATM cards 2.80, and prepaid cards 2.62.

According to Mr. omahony, Donal Edward The method of billing users for mobile
telephony is based on systems developed over time for fixed networks. We survey the
technology involved, and argue that these systems will become increasingly inadequate for
large populations of mobile users where frequent roaming is involved. We present two
micropayment schemes which permit a caller to inject a payment stream into the network
which allows multiple network operators and value-added service providers to be paid in real
time. The methods support dynamic pricing by the association of a pricing contract with the
call which specifies the cost for each leg of the call route. The system will alleviate problems
of mobile fraud, eliminate the need for interoperates billing agreements, and simplify
payment for value-added network services. We discuss the relative merits of the two systems
described and the characteristics of the prototype implementation.

27
According to Daniel Lee Holloway A payment system that utilizes the Internet to gain
access to an Internet banking system enabling a user to purchase merchandise bought through
an online merchant or merchant who has Internet access in their store is disclosed.
The payment system may also be utilized to provide a means for a user to retrieve and view
balances and account transaction information for their bank accounts and to transfer funds
between accounts. The system uses a "virtual pin-pad" which provides a web-based, stand-
alone method of payment that is independent of banks and capable of performing real-time
currency conversions.

28
 Chapter-4

Research
Methodology

Research methodology

Research methodology is not only the application of the research methods but also the
comparision of the logic behind the methods that is being used in this context of research
study and explain why particular methods or techniques are used and why others are not
being used. Research methodology is the to systematically solve the research problem .In
various steps that are generally adopted by a researcher in studying his research problem
along with the logic behind them are studied in order to have a clear view of the study.

29
Research methodology is the way to systematically solve the research problem. It
may be understand as a science of studying how research is done scientifically. In it I study
the various steps that are generally adopted by a researcher in his research
problem along with the logic behind them. It is necessary f o r t h e researcher to
know not only the research method but also the methodology.

The report has different direction and features, including different steps as follows:

The research process includes the following steps:

Defining the problem

Statement of research objectives
Planning the research design
Planning the sample
Collection of data
Analyzing the data
Formulation of conclusion
Preparation of the report

Objectives of the study:-

Every Research study has certain objectives; there is no study without the objective because
objectives are purpose of the study. No study serves any existence without its significance
thus they are the backbone on which the body of the study stands.

1. To understand the procedure of bill passing & payment in an organization.

2. To provide suggestions and recommendations for the study conducted.
3. To find a cost analysis of bill passing & payment system.
4. To know that the process is good or it have some other options.

Focus of study:-
30
Main focus of study is to know about bill passing and payment system and how it is
important in a organization. What is the cost of per bill passing and the cost of payment. My
focus is to know how bill is passes and how it is paid to our suppliers

Limitations of the study:-

1. shortage of time
2. Only secondary Data is used

31
 Research design

A research design is the plan of a research study. The design of a study defines the study type
(descriptive, correlational, semi-experimental, experimental, review, meta-analytic) and sub-
type(e.g.,descriptive-longitudinal case study), research question, hypotheses, independent and
dependent variables, experimental design, and, if applicable, data collection methods and a
statistical analysis plan.

The research design refers to the overall strategy that you choose to integrate the different
components of the study in a coherent and logical way, thereby, ensuring you will effectively
address the research problem; it constitutes the blueprint for the collection, measurement, and
analysis of data. Note that your research problem determines the type of design you should
use, not the other way around!

Research design for the present study applied the descriptive research
Descriptive Research:-

Descriptive study is a fact- finding investigation with adequate interpretation. It is The

simplest type of research. It is more specific than an explanatory study, as it has focus On
particular aspect of the problem studied. It is designed to get her descriptive Information and
provide information for formulating more sophisticated studies. Data are Collected by using
one or more appropriate method, observation, web sides, articles and companies that provide
bill passing & payment process.

Location of study Whirlpool India ltd. (Faridabad)

Instrument for information Secondary Data: Journals, Magazines,

Web Sites, News Papers.

32
 SAMPLING FRAME:-

The area of sampling is Whirlpool India Ltd.

Period of the study: - 2 months

DATA COLLECTION:

The study is conducted empirically using secondary data.

The secondary data is collected from whirlpool India website and books and Websites. The
details about the suppliers bill passing & payment are collected from a few specialized
magazines to get information regarding the organization and bill passing & payment system.

SECONDORY DATA:-
Secondary data has been taken from bellow sources:
1) Reports
2) Newspapers
3) Magazines
4) Books

33
 Chapter-5

DATA ANALYSIS
MICRO ANALYSIS

MACRO ANALYSIS

34
Micro Analysis

35
 SAP

(SYSTEM APPLICATION AND PRODUCTS)

SAP started in 1972 by five former IBM employees in Mannheim, Germany, states that are
the worlds largest inter- enterprise software company and the worlds fourth largest
independent software supplier. The original name of SAP was German:- systeme
Anwendungen, produkte. German for Systems applications and products.

The original SAP idea was to provide customers with the ability to interact with a common
corporate database for a comprehensive range of applications.

SAP applications built around their latest R/3 system, provide the capability to manage
financial, assets, and cost accounting, production operations and materials, personnel, plants,
and archived documents. The latest version of R/3 includes a comprehensive internet-enabled
package.

EMPLOYEE AND VENDORS

1. At the beginning of the financial year, a forecast of the demand for the various
products is done based on past experiences.
2. On the basis of this demand forecast, the numbers of units to be produced in that
whole year is decided and the quantity of raw material/spare parts to be required are
also decided.
3. Originator/concerned department request for the use of specific vendor.
4. Request is processed by sourcing group, as they are responsible to obtain
corresponding vendor data. A vendor opening form needs to be filled by the
requester and same needs to be approved by the local finance team.
5. Actual registration of new vendor falls under the stewardship of the finance
department. It takes 24-48 hours (1-2days), on the average to register a new vendor.
6. Each vendor is provided with a schedule for the whole year, according to which they
have to supply the relevant material on time.

36
 Vendor Invoice Verification Accounting Entries

VENDOR INVOICE VERIFICATION

The detail process related to invoice verification is documented in Materials

Management Document.

On receipt of vendor bill the following entry will be passed:

GR/IR Account DR
Freight Clearing Account DR
Cenvat Clearing Account DR
Vendor Account CR

Invoice Verification for Foreign Vendor

On receipt of vendor bill the following entry will be passed:

GR/IR Account DR
Vendor Account CR

Invoice Verification for Custom vendor

On receipt of Vendor bill the following entry will be passed:

1) RG 23A/RG 23C Part 2 A/c (CVD) A/c DR

Cenvat Clearing A/c CR

2) G/R I/R A/c DR

Cenvat Clearing A/c DR
Vendor A/c CR

3) Cost of Material A/c DR

Vendor A/c (Customs) CR

Invoice Verification for Freight / Clearing Agent

37
Cost of Material A/c DR
Vendor A/c (Clearing Agent) CR

Invoice Verification for Octroi Expenses

Cost of Material DR
Vendor A/c (Octroi) CR

TDS (Work Contract Tax) for Service Orders shall be calculated and deducted
accordingly.
The following entry will be passed on bill passing:

Expenses Account DR
Vendor Account CR
TDS Account CR
The material shall be returned to the vendor using the Return to vendor movement
type in SAP Creating a Return PO

These transactions will be processed in the MM module.

The accounting entries will be:
Returns after GRN
GR/IR A/c Dr
Stock A/c Cr

The accounting in respect of debit / credit memos for FI vendors, the process will be
similar to that of invoice processing. The accounting entries will be:
On issue of debit note
Vendor Account DR
Expenses Account CR

38
 In respect of import vendor - capital goods exchange differences are to
be accounted manually through a Journal Voucher for capitalization.
Exchange rate differences will be accounted at HO. An example of the
accounting entry in this case shall be:
Invoice entry @ 40 INR: 1 USD

Asset / Expense A/c DR 100

Vendor A/c CR 100

Payment Entry @ 41 INR: 1 USD

Vendor A/c DR 100

Bank A/c CR 110

Exchange rate loss Capital A/c DR 10

Asset A/c DR 10
Exchange rate loss Capital A/c CR 10

A new G/L account shall be created for the special G/L transactions.
The accounting entry for making the down payment shall be:

Advance to supplier account Debit

Bank A/c Credit

When the invoice is booked the following entry is passed

GR/IR account Debit
Vendor account Credit

Clearing of Invoice against Down Payment

39
 Vendor A/c Debit
Vendor down payment account Credit

Wherever, TDS is applicable, the TDS will be deducted at the time of down-payment to the
vendor.

Down Payment for Capital (tangible) Assets

Down payment to vendors for capital acquisitions is to be reported separately in the

Balance Sheet under the head Capital Work in Progress. Hence down payment for
capital goods would be tracked through a separate special general ledger indicator.

The procedure to be followed is:

Definition of alternative reconciliation accounts for Accounts Payable for posting

down payments made for Capital assets.

Clearing the down payment in Accounts Payable with the closing invoice.
A new G/L account shall be created for the special G/L transactions.

The accounting entry for making the down payment shall be:

Vendor Advance for Capital Goods A/c Debit

Bank A/c Credit

When the invoice is booked the following entry is passed

Asset A/c / Asset WIP Debit

Vendor A/c Credit

40
Clearing of Invoice against Down Payment

Vendor A/c Debit

Vendor Advance for Capital Goods Account Credit

Informations found in the data

Company name
Company code
Vendor type
Vendor name
Purpose
Address
Search term
Telephone
Email address
TDS applicable
Pan no.
VAT no.
Payment terms
Reconciliation account
Request by
Approved by

VENDOR INVOICE PROCESSING

41
Incoming excise invoice is a business documents that supplier of goods (vendor or supplying
plant) sends along with deliveries of excisable goods. It lists the goods and states, quantity
and how much excise duty applies on them.

It is used to claim back the excise duty that a buyer has paid from the excise authorities.
Buyer of goods have to post the excise invoice in the SAPR /3 system as a proof of the excise
duty that has paid, so that he can then offset the duty against the excise duty that he levy on
outputs.

As per Indian tax system, Excise duty {10%} payable by each manufacturing unit on the
value of manufactured goods/ on the value added. The manufacturing plant is supposed to
submit on excise duty report on fortnightly / monthly basis. Various registers (RGI, RG23A,
RG23C, and PLA) are maintained for that purpose, which record all transactions including
movement of goods, cenvat credit available and cash balance available.

42
 SOME BASIC TERMS

GRN- Goods Receive Note

There are three type of GRN in whirlpool

103 :- First GRN is 103 which is attached at material gate on entry time as the material is
received.

105:- Second is 105 which is attached in store after safely receiving the material in store.

122:- GRN No. 122 is attached at production plant. When material is being send to plant and
some pieces are found defective the GRN Created named 122.

IR/GR:- Invoice Received/Goods Received

MM:- Material management

PO:- purchase order

BED:- Basic excise duty

Two way matching

In SAP we make two matching because in it we compare the prices & quantity of purchase
order with invoices.
Here the amount which is lesser will forwarded further.

Here are two types of balances

1) Credit balance
2) Debit balance

43
Credit balance:-
When bill (invoice) amount is lesser than purchase order amount then it will
be credit balance.

Debit balance:-
When bill(Invoice ) amount is greater than purchase order amount then it will
be debit balance.

PROCESS INFORMATION

The process covers accrual of vendor liability for Direct and indirect materials Domestic
(i.e. production items, capital goods, repairs and maintenance items etc.) and cost associated
with these. This process depicts the set of activities that will be carried out post receipt,
counting and inspection of material.

CENVAT Verification:-
It includes verifying excise invoice received from store, generating RG23A/C number from
the system and stamping relevant invoice.

SAP T-CODE= JIEX

Invoice verification for material:-

The process starts after the CENVAT entry has been passed in the system else after the receipt
of invoice from stores in the account section.

PROCESS:-

44
 Stores send the original invoice mentioning the GRN numbers to account sections.
Bill is verified with PO/GRN with respect to quantity and rates, clarification is sought
from procurement. If the procurement decides to pass the bill with PO AMT then
same is processed else GRN is reversed a new GRN is created after making
amendments to the PO. In case of quantity difference bill is passed as per GRN
quantity.
SAP T-code used are
1. MIRO (for individual bill processing)
2. ZAIM61 (for batch processing)

Requirements-
- Duplicate copy of invoice

Internal requirements-
- GRN and PO no. required to be mentioned on invoice itself.

Frequency-
-On going process

Inputs
- GRN
- Supplier Excise Invoice

45
Diagram of bill passing process

46
 MODVAT CREDITING (CHANGE & POST)
IN SAP

Enter vendor code & invoice number:-

Verify cenvat amount & make all effective changes:-

47
After all changes, we will post our CENVAT & a PART II number (shown below) is noted on
the duplicate copy of invoice.

48
 STEPS CARRIED OUT IN SAP FOR MODVAT CREDITING

1. Enter SAPT- code J11EX in the SAP Easy Access screen.

2. Enter the reference number, invoice date and vendor code from physical bill.
3. The excise invoice screen appears. The header data is displayed at the top,
the line items, which the system has copied from the reference document, are
displayed at the bottom.
4. Check the information in the system against the vendors excise invoice and
adjust the information in the system to match.
5. You must pay particular attention to the excise duty that is to be credited to
the CENVAT accounts.
6. To check the CENVAT posting. Choose simulate CENVAT. A dialog box
appears with a list of the posting that will be made. The excise duty account
will be debited, and the CENVAT clearing account credited.
7. Then after close dialog box
8. Then to close the excise invoice and make the CENVAT posting .
9. To post excise invoice and make the CENVAT posting. Choose post
CENVAT.
10. You can also save your changes without making any CENVAT posting.

Result

The system:
Creates an accounting document to make the appropriate CENVAT postings.
Creates the corresponding entries in part11 of the appropriate excise register.

49
BILL PASSING BY USING
MIRO-

50
 Steps carried out for passing a
Bill using MIRO

MIRO performs the invoice verification for the goods receiving at the price agreed in
purchase order. During MIRO, does not have much to do, except to look for variances in the
invoice items.

1. Select MIRO-enter invoice from the SAP easy access screen.

2. The following screen will displayed.
3. Enter the invoice date, reference/invoice number.
4. Check the calculate tax box.
5. In the lower half of the screen details of the bill like quantity, purchase order etc. will
displayed. Check the details with those on the physical bill.
6. If there is no discrepancy/balance the bill is posted using Ctrl+S.
7. The number generated is noted down on the physical bill.

INVOICE COCKPIT

Automatically matches information on your invoices against purchase order and master data
in SAP. For example, it can check tax, number, bank details, company name and even line
items.

If the invoice matches the purchase order it is automatically posted in to SAP. Any
discrepancies are detected and presented to the user.

After that invoices are automatically verified, you can post invoices for payment, view
purchase order, go to the vendor data and more, all with a single click of mouse.

If there are any errors on the invoice, or if there is no purchase order available, the invoice is
passed on to the electronic workflow WEBCYCLE.

TECHNICAL CAPABLITIES

51
 Automated transfer of invoice data in to SAP.
Field in your SAP system is automatically populated with data from the invoice.
Automated posting of consistent invoices.
All data from the invoice is presented together with a digital image of the document.
All accounting action are a mere click away.
A repetitor function can automatically check the invoice for change since it was last
accessed & post it if all inconsistencies have disappeared.
Provide reports on your invoice flow and user actions.
Can be easily customized to fit your specific needs and document workflows.
Uses your existing SAP configuration and requires no modification of SAP standards.

ENTER IN COCKPIT

52
53
54
55
CHANGE INVOICE

56
 DEBIT NOTE

Transactions signifying a payment that your Sub-Reseller or Customer Owes you, just like
Invoices. In fact structurally they are very much like Invoices. Though they have a different
meaning. Invoices always depict sales, while Debit Notes on the other hand are used for
deducting money from your Customer's or Sub-Reseller's Account without a sale being made.
This is akin to the definition of a Debit Note in the pure accounting sense. Lets take a few
examples to understand the difference between an Invoice and a Debit Note:

When a Customer buys a Product/Service and you charge him USD 100 for that
Product/Service, you would raise an Invoice for the same

When a Customer pays you USD 100 and by mistake you credit the Customer USD
1000 in his account, you have to subtract USD 900 from his account in order to
rectify your mistake. In order to subtract this USD 900, you will raise a Debit Note

In short, a Debit Note is used to deduct funds from your Customer's account when the
deduction has no relationship to an Order or any Service rendered.

First lets look at the fields that make up a Debit Note:

Transaction ID:
This is a numerical integer value which uniquely identifies every transaction. The system
automatically generates serial numbers for you, separately for your Customers and your
Sub-Resellers, starting from 1, incrementing upwards for each additional Debit Note
created.

Transaction Date:
This is the date on which the Debit Note was created.

Description:
This is the description of the Debit Note, describing the purpose for which the Debit Note
was created.

Debit Note Amount:

This is the amount of the Debit Note. This is the amount your Customer or Sub-Reseller

57
needs to pay for that Debit Note. In case your Selling Currency is different from your
Accounting Currency, you will see the Debit Note Amount in both the currencies.

Pending Amount:
This is the amount pending against this Debit Note. To begin with, this will be same as
the Debit Note Amount. For example, if the Debit Note amount is USD 200, the pending
amount will also be USD 200. If the Customer now chooses to make a payment of USD
100 against this Debit Note, the Pending Amount will then be USD 100. In case your
Selling Currency is different from your Accounting Currency, you will see the Pending
amount in both the currencies.

Forex Gain/Loss:

If your Accounting Currency is different from your Selling Currency, then the System
records your Forex Gain/Loss for every transaction. Each time an Debit Note is paid, the
appropriate Forex Gain/Loss for that Payment is calculated and maintained by the system.

Other Details:
A Debit Note contains several other details such as Contact Information, Tax information,
etc..

It is important to note that none of the above fields can be modified once a Debit Note is
created. A Debit Note can only be balanced. It can never be modified. The amounts,
address information, everything remains as it is. Another important aspect to note is that
an Debit Note contains even your own contact details. If you click the Print button in the
Debit Note Details view, it will show your contact details too. These contact details are
separately stored with each Debit Note. These too cannot be modified. Even if you
change your company name after 1 month, it will not affect the Debit Notes already
raised under the previous company name. This change will only affect newer transactions.

58
In case of an unpaid Debit Note you may see the below additional field:

Reminder Days:
This signifies the number of days after which a reminder for Payment of the Debit Note is
sent to your Customer/Sub-Reseller, by the system automatically.

Noting & posting of debit note

Noting

1) Open Sap t-code mb03

2) Fill GRN number
3) In environment click on purchase order
4) Then find all PO History & GR/IR assignment
5) ctrl+f to find specific bill
6) Fill GRN number in find option & find that bills goods details.
7) From here note item number & invoices which are needed for debit note.

Posting

1) Sap t-code MIRO is used for posting a debit note.

2) Select credit memo in transactions.
3) Enter invoice date & reference number.
4) Note all invoice numbers in column of delivery note & adopt them.
5) Make layout into MIRO & select all we need , delete others
6) Then post it.

59
PAYMENTS

60
Different way of vendor bill payment:-
1. collective payment
Cheques
Bank transfers

2. Individual payment
Cheques
DD
Pay order

Business process description

The process disbursement of funds to vendors for goods and services in the local
currency i.e. INR. This process can be divided in to two parts:-

1. Collective payment
2. Individual payment

Payment ways:-

1. Hundi
2. Cheque
3. RTGS

Collective payment

61
 Generating preliminary payment register. Using the payment terms entered in the
purchase order and maintained in the vendor master, the system calculates the due
date and generates the preliminary payment register.
SAPT-CODE is F11O.
The payment register is generated twice a week on Monday and Thursday. The
register can be generated based on specific vendor parameters entered in vendor
master. Payment register show all the due bills.
Bills which are to be paid are selected out of due bills, verified and are stamped. Final
payment proposal are created.
An encrypted file is created to upload into city banks software through SAPT-CODE
ZCITI.
The file is uploaded in the banks site and authorized by the signatories by bank as per
their limits.
Printed and signed cheques are received from bank and handed over mailed to
vendors, respective departments along with the payment details i.e. the detail of
invoice being paid as per agreement. Detailed record is maintained with respect to
cheques i.e. check no, check date, amt. numbers of bills paid, handed over to the
future references.

Individual payment
Individual payment is made in case or urgency or advance payment. First of all the
bill to pay is checked or verified. After ensuring that it is due for payment or payment
needs to be done the payment process is started. These are following ways:-
Manual hand written cheque SAP T-CODE F-53
Pre printed cheque stationary SAPT-CODE F-58
DD/Pay order SAPT-CODE F-53
Cheque/ letter along with the payment voucher are signed by the authorized
signatories per S.O.A.
Signed cheque is handed over to the vendor respective dept after noting letter/cheque
for DD is sent to bank for DD preparation.

62
Payment process diagram

HUNDI
63
BILL OF EXCHANGE
A Hundi is a negotiable instrument by usage. It is often in the form of bill of exchange
drawn in any local language in accordance with custom of the place.

According to section 13 of the negotiable instrument act 1881

A negotiable instrument means promissory note, bill of exchange or cheque,
payable either to order or to bearer.

Process:-
Enter SAPT-CODE ZAIF46 for BOE creation.
Enter code number, area number, hundi number &bank name.
For e.g.:- code-91010193
2100 for Faridabad
H.no.55 America(for bank of America)
Enter hundi date then after execute it.
Select all bills according to requirement.
Then after calculate & propose it & confirm the doc. Num. and interest num.
Check the post option.

(Hundi always create for less than 2500000 Rs. Amount

So more than 2500000 will be paid by other ways of payment)

64
Hundi screens in SAP:-

65
66
Macro Analysis

67
 Chapter -6

FINDINGS,
SUGGESTIONS
&
CONCLUSION

68
 Major Findings

1. Miro is bill passing key in SAP in which we pass the bill through original copy of bill.

2. Cockpit is a bill passing key in SAP in which we pass the bill through a scanned copy
of original bill.

3. Through cockpit company undertake the work of other countries like Australia, china
(shanghai, hongkong), Europe.

4. It increases the earning of organization and also decrease the cost of other countries.

5. SAP is good software of bill passing and payment system.

6. Investment in cockpit is profitable for organization because company has recovered

its all cost in one year and now all is its earning.

69
 RECOMMENDATIONS AND SUGGESTIONS

1. On the basis of study I can suggest that a bill passing and payment system is a need of
an organization so it must be fully designed and defined.

2. Cockpit makes SAP more effective but in future some other keys will arrive and then
they will increase the effectiveness of SAP.

3. Companys earnings are increase through the work of many other countries. So they
must be run this process continuously for extra earning in future.

70
71
 CONCLUSION

Companies have to make payment to vendors and for maintain the discipline and accuracy of
the above procedure every company has rule & regulation or system to process the bill
accurately and make payment to vendors on a timely basis with all relevant details.

The global management is much satisfied by the systems and procedures followed in India.
As a result of this, India finance has started providing back end support for entire Asia in the
current year. This shows the excellence of the department. Revenue of the company increase
as well as government gains.

72
 APPENDIX
BIBLIOGRAPHY

73
 BIBLIOGRAPHY

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Delhi,
2) Ottman, J. (1993)green finance: Challenges and opportunities for the New finance
Age Lincolnwood, Illinois :- NTC Business Books.
3) Stride, S. and Nick, C. (1993)NO Free Ride for Eco-Ads, Tomorrow, Volume iii
No.2.
4) Murphy,P.(1985) Tourism a Community Affair,New York,Methuen, 111-120,U.S.A.
5) Polonsky M.j.(1991) Spurts & Starts: Corporate Role in 90s Environmentalism
Hardly Consistent,Advertising Age 62 (46) GR14-GR16,Australiya.
6) Coddington,W.(1993). Environmental finance :Possitive Strategies for Reaching the
Green Consumers,McGraw-Hill Inc New York.
7) Davis,Joel J.1983 Ethics & Green finance, Journal of Business Ethics 11(2) 81-87.
8) Henion,K.E.and Kinnear,T.C.(1976B) A Guide to Ecological finance, Ecological
finance, Columbus, Ohio: American finance association.
9) Kangun,N.Polonsky,M.J(1994) Regulation Of Environmental finance Claims:A
Comparative Perspective,International General of Advertising,13(4).
10) Lawrence,J.(1991) The Green Revolution:MobilAdvertising Age 62(5)12-13.
11) Yurman,D.(1994) Green Technology:Markets,Competition and Barriers;New
Paradigms For Natural Resources,EcoNet Westren Lands Gopher,September.
12) Global Compact Policy Dialogue(5-6 April,2004) on Sustainable Consumption
:Marketing & CommunicationParis,France.
13) www.google.com.
14) www.wikepedia.com.
15) www.scholar google.com.
16) www.whirlpool.com

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