INTERNSHIP REPORT

Submitted in partial fulfillment of the requirement for the award of the

degree of MASTER OF BUSINESS ADMINISTRATION
of University of Kerala.

Submitted by
SRUTHI DEVAN
Reg No : 59517940071

INTERNSHIP AT
KERALA STATE COIR CORPORATION LTD, ALAPPUZHA

Faculty Guide : Company Guide

Mrs SOUMYA C NAIR Mrs Shyni M S
(Lecturer At UIM, Alappuzha) (Finance Manager, KSCC)

UNIVERSITY INSTITUTE OF MANAGEMENT

ALAPPUZHA

August 2017
 DECLARATION

I declare that the Internship report done at KERALA STATE COIR

CORPORATION LTD, ALAPPUZHA and submitted by me for the award of the degree
of Master of Business Administration of the University of Kerala is my own work.
The report has not been submitted for the award of any other degree of this University or
any other University.

Place : ALAPPUZHA SRUTHI DEVAN

Date : Reg No:59517940071
 ACKNOWLEDGEMENT

The internship opportunity I had with KERALA STATE COIR CORPORATION was a
great chance of learning and professional development. Therefore, I consider myself as a
very lucky individual as I was provided with an opportunity to be part of it. I am also
greatful for having a chance to meet so many wonderful people and professionals who
lead me through this internship period.
I extend my heartfelt thanks to Dr. Vijayan, Principal, University Institute of
Management, Alappuzha for providing me the facilities to carry out the internship
successfully.
I wish to express my sincere gratitude to Mrs. Soumya C Nair, faculty guide, university
Institute Of Management, Alappuzha for her valuable support, guidance and suggestions
for the completion of my internship.
I express my sincere gratitude to Mr. SunuRaj, Business Manager of COIR
CORPORATION for his kind cooperation and granting permission to do my internship.
I express my sincere and hearty thanks to Mrs. Shyni, Finance Manager(ic) of COIR
CORPORATION for her guidance and support for the completion of my internship.
I would also like to thank all other staffs in the organization for their enthusiastic
guidance and supervision for the completion of my internship.
I extend my gratitude to my parents and friends who all guided me a lot in this work.
Above all, I would like to use this opportunity to thank the almighty for his grace and
kind protection.
CONTENTS

PART NO TITLE PAGE NO

INTRODUCTION 1-2

SCOPE AND OBJECTIVES OF INTERNSHIP 3

CHAPTER - 1
COMPANY PROFILE 4-12

ORGANIZATIONAL STRUCTURE 14-15

CHAPTER - 2 BRIEF DESCRIPTION ABOUT EACH DEPARTMENT 16-27

DETAILED STUDY OF FINANCE DEPARTMENT 28-31

TASK AND DUTIES 32-35

CHAPTER - 3 LEARNING SUMMARIZATION 36

CONCLUSION 37

BIBLIOGRAPHY 38
CHAPTER : 1

1
 INTRODUCTION
An internship is a period of work experience offered by an employer to
give students and graduate exposure to the working environment, often with in a specific
industry, which relates to their field of study.

Internship can be short as a week or as long as 12 months. They can be

paid or voluntary. Internship can be done in a range of sectors, including sales,
marketing, management and many more. Throughout an internship will develop a variety
of soft skills, including communication skills, personal effectiveness, presentation skills,
creative problem solving and influencing skills.

Kerala State Coir Corporation Ltd., is a fully Government Company set up

in 1969 for the systematic development of Coir Industry in the state. The Corporation
has its Administrative wing and manufacturing facilities in a sprawling complex
Alappuzha. The Corporation has status of being the largest and most diverse
manufacturing plant in the country.

Coir is a versatile natural golden fiber extract from the protective husk of
coconut. Coir Industry is a traditional Indian Cortage craft centered in the State of Kerala
and the beautiful products represents skills handed over generations. The history of coir
and its association with the state of Kerala dates back to the 19th century. Kerala is one of
the most beautiful state in India. Coir Industry is one of the major traditional industries
in the state and second only to agriculture as a source of employment in Kerala. It
provides employment to a lakhs of people of which 64% of them are women with 10.5
lakh hectares under coconut cultivation.

2
OBJECTIVES OF INTERNSHIP

The internship was conducted at KSCC LTD, Alappuzha is undertaken

with clear cut objectives which are defined below:

 To study about the organization.

 To analyze various functions performed by the various departments in the
organization.
 To compare theoretical knowledge with actual practice.
 To access the functions of Finance department at KSCC LTD, Alappuzha.
 To interact with the managers at different levels and find out the duties and
responsibilities.

SCOPE OF INTERNSHIP

It helps to understand about various factors and activities which are assigned to
various people in Finance department. Internship helps to gain knowledge about the real
life situations faced by finance employees in each stage of work. It provides a chance to
see the practical constraints faced by the manager while putting theory into practice.
Internship helps to maintain personal contact with the organization. It is also very
beneficial because they provide both theoretical and practical knowledge regarding
various aspects of financial management and their implication.

3
INDUSTRY PROFILE

Coir came from Malayalam word ‘kayaru’, which means cord, to be

twisted. Coir came from Malayalam is a course fiber extracted from husk, the fiberous
outer shell of coconut used chiefly in making rope and matting. The history explains
different stories on the birth of golden fiber. The first recorded history of coconut in the
country dates back to Ramayana period. In the Valmiki Ramayana there are references of
coconut in the Kishkindha Kanda and Aranya Kanda. It is reported that Ramayana was
written by Valmiki sometimes in 3rd Century BC. Generally it is believed that coconut
was introduced in India during the post-Vedic period. In the Valmiki Ramayana there are
references of coconut in the Kishkindha Kanda and Aranya Kanda. It is reported that
Ramayana was written by Valmiki sometimes in 3rd Century BC. Generally it is believed
that coconut was introduced in India during the post-Vedic period.

References have been made on coconut in Raghuvamsa of Kalidasa and

Sangam literatures, which proves the antiquity of the coconut in India. But its origin in
India remains disputed. But Marco Polo, the famous Arab traveler who visited India in
the 13th Century called coconut “Indian Nut” and the logic for such a reference needs
investigation by historians. Shri. P. K. Balakrishnan, a Kerala historian argues that
organised coconut cultivation started in Kerala only after the arrival of the Portugese.

Ropes and cordage, made out of coconut fibre have been in use from
ancient times. Indian navigators, who sailed the seas to Malaya, Java, China and to the
Gulf of Arabia centuries ago, had been using coir as their ship’s cables. Arab writers of
the 11 th Century AD referred to the extensive use of coir as ship’s cables, fenders and
for rigging. Facts record that there was coir industry in UK before the 2nd half of the 19
th Century. During the year 1840, Captain Widely, in co-operation with Captain Logan
and Mr. Thomas Treloar, founded the well-known carpet firms of Treloar and Sons in
Ludgate Hill, England for the manufacture of coir into various fabrics suitable for floor
coverings.

4
 COMPANY PROFILE

The Kerala State Coir Corporation Ltd. is a fully owned

Government company set up in 1969 for the systematic development of coir industry in
the State. The Corporation has its administrative wings and manufacturing facilities in a
sprawling complex in Alleppy, Kerala, S.India. Its diversified operations include curled
coir manufacturing and allied products sectors. The Corporation has the status of being
the largest and the most diversified manufacturing plant in the country.

The Corporation believes in the philosophy of producing quality

built in products through a dedicated team of staff and workers from top to bottom. This
commitment to quality enables the company to face any sort of challenge in this sector.
This is the first company in the public sector to introduce quality circles successfully
among the workers and staff, proving its commitments to quality. The company has
achieved an ISO 9002 certification in the year of 2001.

The Kerala State Coir Corporation Ltd, was established by the

Govt. to find out market for the coir products of more than 4000 small scale producers in
the state of Kerala in addition to our own manufacturing. The coir industry in Kerala is a
traditional one and employs nearly 0.40 million workers and majority of them are women
from villages. Uplift of this industry means the upliftment of the life standards of 0.40
millions workers mainly that of village women.

In its Model Coir Factory, the Corporation can manufacture mats

up to 8ft. and mattings up to 4mt. width with the help of specially trained work force. The
Corporation also has a capability to manufacture power loom mattings in various width.
In the Model Coir Factory, latest management techniques are applied in the areas of man,
material and machine management so as to give out the best products possible. A highly
successful, statistical quality control device has been evolved for on line production,
quality check up and also to ensure timely delivery of goods.

5
 CORPORATIVE OBJECTIVES

 To maintain optimum levels of efficiency and productivity and to secure

optimum returns on investment.
 To maximize profits from projects taken.
 To continuously upgrade the quality of human resources of the company
and to promote organization development.
 To continuously improve the plant operational safety and to confirm
statutory population control standards.
 To ensure corporate growth by expansion and diversification.

MISSION AND VISION OF KSCC LTD

MISSION

A major part of the coir production in Kerala comes from the small-scale
producers, based in the villages of Kerala, employing around 0.4 million women. We are
marketing the products of the small scale producers, in addition to our own products,
there by the upliftment and promotion of this industry will result in improved life style of
village women in the state of Kerala.

VISION

Progressive economic development and sustainable employment generation in the

coir sector of kerala through planned development of coir industry.

6
FUNCTIONS OF KSCC

The main functions of KSCC are:

( 1) To carry on the business of developing promoting, and stabilising the coir industry in
Kerala.
(2) To establish and work as export house for coir and coir products.
The objectives ancillary to the attainment of the above are:
(a) To provide :financial, technical, marketing, developmental or any other guidance or
assistance to any establishment undertaking or enterprise of any description whatsoever,
which is likely to accelerate the development of coir industry in Kerala.
(b) To promote, establish and operate sales office like show rooms to improve the
marketability of coir at1d coir products of the state within at1d outside India.
(c) To undertake the development and marketing of coir at1d coir products (of Kerala)
within and outside the state and supply the raw materials and controlled commodities
required for the coir industry whether the unit is owned or run by government, statutory
body, company, firm cooperative or individuals.
(d) To undertake export of coir and coir products from Kerala directly or in collaboration
with exporting business corporations, companies or agencies, government or private; to
establish trade connections, sales depots, selling agencies, offices for distnbuting agents
etc.
(e) To aid, advice, assist, finance and protect the interests of coir industry in Kerala and
to provide them with capital credit and technical and managerial assistance for the
execution of their work and business and to enable them to develop and improve their
techniques of production, management and marketing.
(f) To putforth schemes of standardisation and quality control according to the
specifications fixed by the lSI, the Coir Board and Government ofKerala and to make
available technical assistance to coir industrial units for establishing a system of
inspection and quality control

7
 PRODUCT PROFILE

TYPES OF PRODUCTS IN KSCC LTD.

 MATS
 COCOPEAT
 COIR GEO TEXTILES
 JUTE LOOP CARPET
 BROADLOOMS
 CRICKET MATS

MATS
Coir mats are environment friendly traditional choice for entrance mats where
maximum moisture absorbing dust removal and other shoe drying action required.
Depending on the construction weave quality and thickness of fiber and types of door
mats available they provide innovative designs on their mats to requirement a large range
of mats are available such as

 FIBER MATS
 CREEL MATS
 CARNATIC MATS
 ROAD MATS

A wide range of products were manufacturing from rubberized poly propylene

carpets with attractive designs embossed on its top.

8
COCOPEAT

 Coco Peat (Cocopeat )100% biodegradable, organic and a renewable resource.

 Coco Peat (Cocopeat )Eco-friendly, Organic, Soil Substitute & Soil conditioner.
 Coco Peat (Cocopeat ) An excellent substitute to Peat-Moss which is widely used
in gardens, especially in growing orchids and anthuriums.
 Coco Peat (Cocopeat ) An Organic soil-less growing media for Horticulture and
Floriculture. Excellent for flower beds, potted plants, horticultural crops, golf
courses,lawns, landscaping, nursery poly bags, etc.
 Coco Peat (Cocopeat) absorb and hold up 8 to 10 times it's own weight in water.
Excellent water uptake, even after drying.
 Coco Peat (Cocopeat) 4 times lighter than soil and is therefore excellent for
terrace gardens.

9
COIR GEO TEXTILES

Coir geo textile is a natural solution to large scale soil erosion / soil
degradation. It has achieved wide acceptance all over the world. As a
natural product, Coir geo textiles are bio-degradable and environment friendly. Studies
conducted in geo-textiles have indicated that coir is better preferred, as compared
to jute or other natural materials owing to certain characteristics like durability, wat
strength, hairy surface etc. It enables vegetation to take root on the applied area thus
making the bonding of the soil very strong. They are ideal for application on hill slopes,
road.

ECHO FRIENDLY AND ECONOMICAL SOLUTION FOR SOIL EROSION

Coir Geo textiles can be classified as woven and non-woven, based on the method of
manufacture. These can be further classified as below.

A. Woven Geo textiles

a. Coir mesh mattings of two shaft weave.

b. Coir woven fabric with loop construction
c. Coir bags made with latex backed coir matting.

B. Non-Woven Geo textiles

a. Coco logs
b. Coir fiber beds
c. Coir needle felts.

JUTE LOOP CARPET

Coir carpets and rugs are eco- friendly floorings. Widely accepted by
foreign households for their versatile and robust nature. The thick natural fibre makes
these products very comfortable especially in severe weather conditions.

10
BROODLOOMS

Broadloom is the traditional and still most popular choice of carpeting

in corporate flooring, and it comes with many design options, including patterns, colors,
even mosaics — nearly limitless aesthetic possibilities. Since broadloom is installed over
a carpet pad, it can look great even if your substrate has minor imperfections. Quality
broadloom that comes with a moisture backing offers superior stain resistance, and seams
can be hidden well using chemical welding. Certain broadloom with the right underlay
material can be used to create a softer and more plush feel than carpet tile allows.
Broadly speaking, you’ll find broadloom carpets are less expensive than carpet tiles.

11
CRICKET MATS

Cricket pitches and non turf cricket matting surfaces for outdoor
artificial cricket pitch installations with over 15 years experience. Range of bowlers run
up matting and coconut throw down mats for indoor use to county level professional non
turf cricket carpets such as the Woven or Match bowl.

12
CHAPTER : 2

13
 ORGANISATIONAL STRUCTURE

MANAGING DIRECTOR

COMPANY SECRETARY SYSTEM

ANALYST

STAFF

PERSONNEL FINANCE MANAGER BUSINESS

MANAGER MANAGER

ASSISTANT SECURITY ACCOUNT CASHIER

OFFICER ANT

STAFF CLERK

PEON PEON

14
 BUSINESS MANAGER

PURCHASE
SALES STORE FACTORY
MANAGER
MANAGER MANAGER MANAGER

STAFF WORKERS STAFF

DYE SUPER
MASTER VISOR
R
PEON
WORKE WORKERS PEON
RS

15
 BRIEF DESCRIPTION ABOUT EACH FUNCTIONAL
DEPARTMENT

FUCTIONAL DEPARTMENTS

An organization is a roof under which group of people work together as a team

towards common objectives. This is achieved when there is an organized effort from all
concerned. The organizational objectives are desired state of affairs which an
organization attempts to realized.

Realization of objectives sought through the coordinated efforts of the

people and resources which constitutes an organization. Resources include men, money,
machines and material. Essence of management is integration of various organizational
departments.

In every organization there are mainly 5 departments such as production,

marketing, personnel, finance and quality management which coordinate the work and
maintain a good relationship between superiors and subordinates.

Like all other organization, in KSCC, for proper functioning is the most
competitive environment, the function of the management is divided into 8 main sections
or departments. They can be named as;
(a) Factory and Production Department
(b) Finance Department
(c) Personnel Department
(d) Purchase Department
(e) IT Department
(f) Sales and Marketing Department
(g) Store Department
(h) H R Department

16
 (a) FACTORY AND PRODUCTION DEPARTMENT

Among the functional area of management, production by which raw materials

and other inputs are converted into finished products, production function where worker
material and machine are used to convert the inputs into the production.

The production is headed by the Factory Manager. Under factory manager

supervisors are look after the production activities. The main factory of KSCC and its
head office is located in Alleppey. The 135 manufacturing section consists of a unit with
150 looms (hand) for manufacturing mats and matting. They also have a power loom·
factory inside the main factory with 100 looms. The KSCC also has a Modem Dye-house
opened on August 1981 inside the compound at a cost of Rs.30 lakhs. Currently the
modern dye house is closed due to the -inefficiency of the management and most of the
machines and boilers are not working. The factmy employs around 150 workers of which
around 120 are the permanent workers. The rest are kept temporary and do not avail any
benefits. In order to keep them temporary, after every 80-89 days they are not allowed to
work for 15-30 days.

17
 STRUCTURE OF PRODUCTION DEPARTMENT

WORK
MANAGER

PRODUCTION UNIT ADMINISTRATION

UNIT

PLANT ENGINEERS ASSISTANT

FINANCE
MANAGER

CLERK
MECHANICAL ELECTRICAL

STENO TYPIST
CHEMIST

OTHERS

QUALITY QUALITY
CONTROL CONTROL

MACHINE WORKERS
OPERATORS

18
 (b) FINANCE DEPARTMENT

The finance manager is the head of finance department who responsible for
overall functioning of the financial matters. He decides the major functional decisions
like capital budgeting, financial decisions and management of earning. Accountant is
authorized to perform the duties in the absence of manager. The office is responsible for
the verification of all documents, purchase and vouchers and debt notes. The finance
department of a business takes the responsibility for organizing the financial and
accounting affairs including the preparation and presentation of appropriate accounts, and
the provision of financial formation for managers.

MAJOR FUNCTIONS OF FINANCE DEPARTMENT IN KSCC

 Book keeping procedure.
 Preparing final accounts.
 Providing management information.
 Arrange the finance to meet the working capital requirement.
 Budgetary control and tally.
 Administration and control of expenditure according to the availability of fund.
 All matters relating to bank and banking construction.
 Maintenance of loans, advances, accounts.

19
STRUCTURE OF FINANCE DEPARTMENT

FINANCE MANAGER

DEPUTY FINANCE
MANAGER

ASSISTANT FINANCE
MANAGER

U D CLERK

L D CLERK

20
( c) PERSONNEL DEPARTMENT

Personnel department is the key department of every organization because

successful functioning of an organization is mainly due to proper behavioural pattern of
personnel in an oraganisation. The main functions of this department are to guide human
resource to attain the organizational goal with a high degree of morale and enthusiasm.

OBJECTIVES OF PERSONNEL DEPARTMENT

 Accessing man power need for future and making plans for recruitment and
selection.
 Assessing skill recruitment in future.
 Determining training and development.
 Controlling wages and salary cost.
 Ensuring optimum use of human resources.
 Ensuring higher labour productivity.

21
STRUCTURE OF PERSONNEL DEPARTMENT

PERSONNEL MANAGER

SENIOR SUPERINTEND

JUNIOR SUPERINTEND

U D CLERK

L D CLERK

22
 (d) PURCHASE DEPARTMENT

The purchase department in KSCC Alappuzha is very actively functioning

with their dedicated effort. Without purchasing of raw material we can’t produce desired
output. The purchase manager has got to have the skill of negotiation, knowledge of
material, familiarity with concerned law.
Purchased department is responsible for bargaining, procuring, managing and storing the
raw materials need for production. The department plays a vital role in carrying out
production process very smoothly. The main function of this department is to maintain
the stock in order to avoid the delay in production. Purpose buying of material and
control of stock are of great importance in business. If the proper quantity and style of
merchandise bought at the right place and time, have the task of selling is completed.

FUNCTIONS OF PURCHASE DEPARTMENT

 To effectively plan and control the inventory level.

 Planning inventory.
 Identifying vendor.
 Issue of purchase order.
 Monitor recorder level.
 Coordinate with production department.
 Checking inward bill and passing it for payment in material.
 To coordinate and assist finance and settlement of law anf financial dues.

23
STRUCTURE OF PURCHASE DEPARTMENT

PURCHASE MANAGER

ASSISTANT PURCHASE MANAGER

OFFICERS

OFFICE ASSISTANT

PEON

24
 (e) IT DEPARTMENT

The interest society is focused on ensuring that a healthy, sustainable internet is

available to everyone today and the next for billion users. Technology focused programs
are vital component of the internet societies mission. The KSCC Alappuzha is having a
functional it department. The department is having a manager and a system analyst, is a
person who is controller and checker of this section. Information technology is very
powerful in organization for the better work. The department has plays a key role to
maintain records in a company.

STRUCTURE OF IT DEPARTMENT

IT HEAD

SYSTEM ANALYST

IT STAFF

25
 (f) SALES AND MARKETING DEPARTMENT

Sales and marketing is the process of communicating the value of a

product or service to consumers for the purpose of selling the product or service. It is
critical business function for attracting the consumers.

Kerala state coir corporation alappuzha is having a well functioning

sales department having a manager and other staff. Here marketing is done by different
ways that are direct selling, selling through exporting, outside selling.

Marketing involves a range of processes concerned with finding out

what consumers want, and then providing it for them. The marketing department is the
key to good marketing and sales. It promotes and establishes business in its niche, based
on the products or services the business is offering. It identifies the area in which the
product fits and where the business should focus its marketing strategy and thereof, spend
its budget for the maximum coverage and results. The marketing department helps the
business to build relationship with the audience, involves the customer, and generate
income. The very aim of marketing is to attract new customers by promising superior
keep current customers by delivering satisfaction.

FUNCTIONS
 Identifying the needs of the customer.
 Ensure the supply of the product corresponding to its demand.
 Distributing products to its distributors.
 Providing ware housing and transportation facilities.
 Conducting market research.
 Meeting the sales target.
 Adopting new methods for meeting the competition.
 Providing pricing strategies.
 Sales promotion activities.

26
 (g) STORE DEPARTMENT

The material purchased may not be used once. There may be time lag
between purchase and usage of material. Store is a place where various items of materials
are kept safely till they re issued for production.

The inputs like coir husk and related things are stored there. Mainly
the raw materials are collected from various societies. Store department plays a vital role
in production by storing materials and giving products without any delay.

The products like mats, yarns, geo textiles etc are stored for selling.
Store keeping is physical storing of material and supply them to respective department
and exercising the overall movements of these goods.

FUNCTIONS OF STORE DEPARTMENT

 Receiving the purchased goods.

 Preparation of the material tag for the purchased item.
 Storing of the material in the respective section.
 Issue of material to concerned department.
 Visual inspection, purchased order number is checked.
 Preparation of receiving report.
 Checking of received material.
 Preparation of inspection note.
 Payments.

27
 DETAILED STUDY OF FINANCE DEPARTMENT IN KSCC
ALAPPUZHA

Finance is one of the major pillars of any organisation and an

essential ingredient to a successful business. Nowadays, a finance department has a broad
range of roles to carry out within or outside an organization. The performance and
success of any company greatly depend on how well the finance is handled. Keeping a
close watch on the financing function is very important for the smooth operation of a
company.
The term, finance has to be understood clearly as it has different
meaning and interpretation in various contexts. In the words of Howard and Upton,
“finance may be defined as that administrative area or set of administrative functions in
an organization which relates with the arrangement of cash and credit so that the
organization may have the means of carrying out its objectives as satisfactorily as
possible”.
To Fabozzi et al., finance is the application of economic principles to
decision-making that involves the allocation of money under conditions of uncertainty.

The finance department is part of an organization that manages its

money. The business functions of a finance department typically include planning,
organizing, auditing, accounting for and controlling its company's finances. The finance
department also usually produces the company's financial statements.

Finance Department is the part of an organization that is responsible

for acquiring funds for the firm, managing funds within the organization and planning for
the expenditure of funds on various assets. It is the part of an organization that ensures
efficient financial management and financial control necessary to support all business
activities

28
 ROLES AND RESPONSIBILITIES OF FINANCE DEPARTMENT
OF KSCC, ALAPPUZHA

a. Bookkeeping

This is the most basic function of the finance department. It involves the day-to-
day recording, analysis and interpretation of a company’s financial transactions. This will
include the tracking of all expenses (purchases, payments etc.) and sales of finished
products. In some startup companies, this role is often carried out by a bookkeeper who
might be replaced by more specialized payables and receivables clerks as the company
grows or expands its operations.

b. Management of company’s cash flow

It is the duty of the finance department to manage all cash flows into and out of a
company and ensure that there are enough funds available to meet the day-to-day running
of the company. This area also encompasses the credit and collections policies for the
company’s customers, to ensure that vendors and creditors are paid correctly and on time;
and that the company is also paid correctly and as when due.

d. Budgets and forecasting

In this function, the finance department works with managers to prepare the
company’s budgets and forecasts and also give feedback with regards to the financial
standing of the company. This information can be used to fulfil the cash needs of each
department, plan company staffing levels, plan asset purchase and expansions at
minimum cost before they become necessary. The finance department can also use past
records from respective departments to make better budget and forecast over long-term
and short-term time horizons.

29
 e. Advising and sourcing longer-term financing

It is the duty of the finance department to advise companies on the best financing mix
that could yield the company the best profit and also help them source longer-term
financing at the lowest cost such that there is a profit level of liquidity.

f. Management of Taxes

Running a company involves paying tax, and it is the duty of the finance department
to handle tax issues. This includes creating good corporate relationships with government
by remitting PAYE (Pay As You Earn) to the relevant authority, and ensuring that
implementation of tax matters are done within the framed policies.

g. Management of Company’s Investments

Apart from analyzing and selecting new investments, it is also the duty of the finance
department to manage company’s existing assets. The finance department should be
concerned with current assets apart from fixed assets. The company’s working capital
needs to be managed efficiently in such a way as to maximize profitability relative to the
amount of funds tied up since it has more implication on the firm liquidity than its fixed
asset.

h. Financial Reporting and analysis

Financial reporting and analysis is the function that takes raw accounting entries and
transforms them into meaningful, usable and comparable financial statements. The
finance department contributes to organizational growth by measuring and reporting on
regular bases, key numbers that are vital to the success of the company. This will likely
include a summary of all funding sources, expenditures and reserves available for future
use (excluding those already committed and budgeted for current period) some non-
30
financial information. And are usually communicated to managers in a logical and
understandable format.

SOURCES OF FINANCE IN KSCC, ALAPPUZHA

The company receives finance from government as share capital. Now the
company is working with its own fund and there is no borrowing from any financial
institution. The company appoints internal auditors for verifying the accounts and they
submit a report to management.

The company shall submit an audited copy of balance sheet and P&L account
with a copy of Auditors report to the finance secretary of government of kerala.

Major banks involved in the transactions are;

 Union bank of india.

Some fuctions of finance department includes:

 Finalization of accounts.

 Preparation of wage sheet.

 Disabilities of wages and salaries.

 Budget making and setting targets to be achieved.

 Maintaining cost records.

31
CHAPTER : 3

32
TASKS ASSIGNED DURING INTERNSHIP

 To familiarize with the working condition of finance department

The first day that I went to KSCC, Alappuzha is on 1st August 2018.
The finance manager (ic) introduced me to the other employees and there were
total of 9 members in finance department. Each and every member have a
cooperative behavior and very social.
The finance councellor Mr. Abbas asked me about the internship programme and
gave me a brief about the finance department.

 Introduction about ERP software.

Only computerized accounts are maintained in finance department.

Here the entire organization is connected through a software naming ERP
(Enterprise Resource Planning) which helps for the coordinated work in KSCC.
Mrs Sabitha who deals with the bank reconcillation process in finance department
explains about the working of ERP. In ERP each and every employee have a
separate login Id nd password. They can enter details about the work that they are
doing. The ERP consists of various journal entries, ledgers, bill details,
transaction details, bank reconcillation details etc. ERP is confidential to the
organization and no other person outside the organization cannot enter into this
software. ERP increases the accuracy of working in kerala state coir corporation.

 Go through the annual reports of the year ending.

As an intern, they gave me an annual report of the company that

clearly gives the audit details and profit and loss account of the company. These
help me to identify more about the financial position of the concern. From the

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 annual report i reached at a conclusion that the company is at top in coir products
marketing.

 Invoice verification.

The company has various stalls during the onam season entirely in
kerala. The company sells most of its product through these stalls. The invoice
gives the bill details of items sold in each stall. My duty is to verify the invoices.
Each invoice book consists of 50 separate invoices. The orginal is given to the
customer and the Xerox are available. Mrs Remya who deals with the invoice
verification in finance department gave me or allot me to do the verification of the
stall namely Anchalumoodu at Kollam district. The stall at their consists of about
5 separate invoices. I had verified them correctly.

 Sales analysis.

After the invoice verification, the total sales that were done in these
stalls has been computed and the wage amount which is given to the concerned
employees in onam stall is also calculated and entered in corresponding cash
vouchers.

 Computation of GST and discount for each item.

As the sale takes place in Onam season, each item is given upto 50%
discount. So the discount is calculated. After that there should be gst for each
item. The GST is of 2 types, CGst and SGst.
Both these GSTs are calculated and their sum is added to the total amount. The
GST rates given are commonly 2.5, 9, 18 for KSCC products.

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  Calculation of net amount.

The net amount which has been obtained from the bills are
calculated. This net amount is compared with the bill amount. These processes were done
through the Microsoft excel. So the process became easy and accurate.

 Reverification of invoices.

The invoices were reverified. The onam stalls at Cherupulassery,

Thrissur, North Paravoor, Gandhipark were done and thus successfully completed the
works allotted.

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LEARNING SUMMERISATION

The organisation is fully computerized, so the works which re done

in paper is comparitievely less. This helps to increase the speed and accuracy of the work.
In finance department, there consists of a finance councellor, finance
manager, cashier, Ud clerk, Ld clerk, and other accountants and a peon. The department
consists of 9 to 10 members in total. They work together in a well coordinated and
disciplined manner.
I had learned a lot from the KSCC. I got an idea about the working
environment of employees in the finance department and types of works that every
employee deals with. I had learned how to analyse the sales and how much money which
is obatained from the sales.
Also I had get a clear idea about the calculation of GST and discount
for the items. As a consumer I did not know about the details about the discount and Gst
rates, but, as an intern I am really satisfied about the calculation of gst and discounts of
products.
Also I had got proper knowledge about the financial position of the
company and the sources of funds.

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CONCLUSION

Coir industry is one of the most important agro based employement

oriented traditional industries in india. Coir industries contribute a major share in world
market. The kerala state coir corporation (KSCC) Ltd is a fully owned government
company. KSCC is engaged in marketing of coir and coir products.
The company has a well functioning finance department so that the
entire financial status of the company goes in smooth. Through the use of ERP(Enterprise
Resource Planning ) the company has acquired efficiency in management. The company
offers a good working environment for the employees.
Coir corporation is known for good quality products at lower price .
coir corporation has changed a lot in the past few years; today it is using better
technology and is exploring new markets. KSCC is now in the top exporters of coir
products in India.

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 BIBLIOGRAPHY

 Bhat S. (2008). Financial Management: Principles and Practice. New-Delhi: Excel

Books.
 Fabozzi, F. and Drake, P. (2009). Finance: Capital Markets, Financial Management, and
Investment Management. New Jersey: John Wiley & Sons, Inc.
 Howard, B. and Upton, M. (1953). Introduction to Business Finance. New York:
McGraw-Hill.
 https://finance.uw.edu/fmat/responsibilities
 https://www.coursehero.com/file/13359621/Financial-Management-Notes/
 www.coircraft.com

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