Académique Documents
Professionnel Documents
Culture Documents
Dear Mam,
This is my pleasure to present my internship report. This report is an
outcome of the internship program that I have involved for Three
months (Thirteen weeks) in MEDI ROME Limited. I have tried my best
to prepare this report with providing all of my effort and to cover all
aspects regarding the matter.
Consequently, I am transmitting this report to your very concern.
Hopefully, you will notice the report informative approach as a hallmark
of my hard work. In case of any future clarification or elaboration
regarding this report I would welcome the opportunity to consult with
you to explore how my findings could best meet your needs.
Acknowledgement
Origin of report
Background
Objectives of study
Methodology
Limitations of study
Organization profile
Overview
History
Departments& branches
Vision & mission
Administration function
Swot analysis
Strength
Weakness
Opportunities
Threats
Job profile
description of the job
Specific responsibilities of job
Critical observation
Analysis
Predicament
Recommendations
Conclusion
Reference
Origin of study
Internship program is the most significant stage for a B.COM students.
The length of internship program is three months, which carries a
greatest learning technique to know about the business and cope up the
environment in such a way like trained employees. The experience that
got by an intern during the internship period will make them more
elegant and professional in their future job sector. We started my
internship at premier engineering works, head office, from 25th April,
2018 and finished at 30th may, 2018. The internship report focuses on
Account Management Team as well as its activities in premier
engineering works.
Background:
Internship has merged the theoretical and practical knowledge which is
important in our future life. For developing the practical knowledge I
want to do internship. As our educational system predominantly text
based, inclusion practical orientation program, as an academic
component is an exception to the norm. As the parties; educational
institution and the organization substantially benefit from such a
program. The process establishes networking contracts, which may help
student to get a job, which means students can train and prepare them for
the job market. Internship experience gives professional experience
which practical orientation provides positive development in
professional arena. In such a state of the affairs we join in premier
engineering works under the guidance of my supervisor M .A. HAI
HADI, Principal of this institute.
Objectives of study:
Broad Objectives:
To understand the functional activities of how the Accounts department
is conducted within the organization which change the work activities
and success of the academic work and their achievement for the
organization based on academic related programs.
Specific Objectives:
To understand the function of Accounts department of premier
engineering works.
This affiliation will help to get information from the activities of
different Department.
To know how they maintain the national university’s professional
curriculum rules in their institute.
To focus on their admission and key activities.
Methodology:
Data source:
Data for this report has been extracted from primary sources as well
as secondary sources.
Primary Data:
Primary Data will be collected Official records (files, rules &
regulation).
Secondary Data:
Majority of the data will be collected from Annual Report, Informal
discussions mainly with my supervisor, brochures, and PISFT official
web sites.
Limitations of study:
Data availability could be another big issue here because company
might not want to disclose all the confidential information
regarding their managerial strategies and plans.
Data from different sources were quite inconsistent which created
some problems making the report.
Organization profile
Overview:
Leveraging on the experience and expertise of the professionals
working with them, they have carved a distinct position in
industry. Its professionals are very well aware of their duties and
responsibilities and ensure that the work assigned to them is
efficiently completed on time. Their team comprises quality
controllers, manufacturing experts, engineers, marketing
personnel, sales executives and other skilled and unskilled staff. In
order to keep their employees aware of the latest technological and
market changes, training sessions are conducted by them on
regular basis. They majorly export in UK.
The functions of purchasing department are varied and wide which are
based upon different approaches. The purchasing activities may be
divided into those that are always assigned to the purchasing department
and those that are sometimes assigned to some other department.
The followings are some of the important functions which are
necessary to be performed.
Receiving indents
Receiving of quotation
Placing order
Verification of invoices
Sales department:
MISSION
"To display tremendous capabilities of working in
diversified fields and derive excellent performances
consistently through dedicated and timely managed precise
efforts".
Empowering through power & infrastructure.
Administrative function:
The functions of administrative department are:
Accounts
Security service
Maintain work order
Take report from accounts & admission officer
Hiring and firing
General service
Training procedure
Maintain organization rules and regulations
SWOT ANALYSIS
Strength:
Weakness:
Limited financial capacity
Lack of experienced personal
Few employee motivational program
Lack of job commitment of the employees
Opportunity:
J
Ik
Y
Yg
Threat:
The market is becoming dreadfully competitive
T
g
JOB PROFILE
Description of the job:
our job in premier engineering works Ltd was to work in Account
Management Department. We were assisting an account manager. First
few days we have to do anything except observing them and we were
asked to learn by communicating and staying with Account management
department. At the first month our primary work was to learn how to
operate a customize software which is used for maintaining company
account. Then, we practically involved in work with the account
management team. we was mainly handling cheque register book where
we kept record of each cheque received from client. In addition we have
to make a notification report every day according to the cheques’
drawing date. It is worth to mention that, we had great opportunity to be
a part of audit of the company at the end of the year. At that time our
responsibility was to find out the total account receivable of the year
2016 and 2017 with detail break up. In premier engineering works Ltd
both account management and financial planning is done by account
management team. To be part of the team it is responsible for
maintaining an efficient and accurate Accounting function.
Specific responsibilities given in jobs:
Cross checking :
Sales book
Purchase book
Tax paid
Preparing bank reconciliation statement
verify calculations
maintained cheque book register
Critical Observation
The Working environment is very friendly and employees are ready to
help all the time. There is a good chain of command always followed.
Moreover, premier engineering works Ltd has software to maintain their
total accounting system while company is not relying on that software
rather then keeping record of transaction manually. This manual method
is time consuming and laborious. From my point of view I think the
company should more efficiently use the customize software that they
have. By upgrading and using software might fruitful for the company.
Project part analysis
Methodology
Throughout the internship period I worked at Account management department
and earned experience on that department. By working as a member of this
department, I had opportunity to accumulate lot of information; to some extent I
had excess to see company’s voucher, ledger, audit report and so forth. It is worth
to mention that, the members of the office were very informative. Moreover,
studying in university course, course text book and search engine was helpful to
accumulate theoretical knowledge with practical.
Limitations
There are certain limitations in this report; otherwise the report including the
analysis might be more accurate and beneficial. At first, it was difficult to get an
appointment with auditor as an internee like me. In addition, the report could be
more informative if I were able to visit the head office, Rome Corporation limited.
Besides, during my internship period I neither visit company’s store nor
acknowledge about the company’s cost account, inventory report or how it is
maintained. As a result, this report does not carry any information concerning to
the company’s cost account and inventory report. Several time I felt that, company
maintain some privacy while giving information, hence they do not disclose many
thing to an internee. Because of lack of information, I have to make some
assumptions that may cause few errors in the report. In spite of, all these
limitations, I have tried to put my best effort as far as possible.
(POLICY GUIDELINE FOR FINANCE AND ACCOUNTS)
Introduction
This manual is prepared as a guideline for the operating activities of finance &
accounts department of the company. This will lay the foundation for a system of
internal accounting controls. Examples of the key documentation are included in
this manual to achieve the objectives of the department. This manual is intended to
be used only as an aid and should not be considered a replacement for management
involvement.
Cash receipts
Cash disbursement
3. The signatories of the cheque will be top management and top level staff is
authorized.
Account payable
4. Money receipt should be received when payment is made. 5. Source tax should
be deducted, if applicable, form the payment.
Recurring expenses
Recurring expenses are of different types. They may be one time in a month,
occasionally and regular. The monthly ones are utilities bills and examples of
regular type are conveyance, entertainment, etc. expenses in connection with
business travel, training, promotional etc. are occasional expenses in nature.
(i) Monthly
Monthly expenses should be paid on the basis of invoice/ bill
submitted by the authority concerned. Payment is this regard should
be ensured to the designated deposit centers within the stipulated time
in order to avoid disruption of services.
(ii) Occasional
Occasional expenses are incurred for specific purposes in this regard
are as follows:
Expense report should be completed on a timely basis
Receipts for expensed should be attached to the expenses
report prior to the expense report.
Date, time and business purpose should be stated.
The staff should sign and dated the expense report prior to its
submission to finance and accounts department.
Before disbursement or adjustment of advance made against
him/her, the expenses report should be approved by the
authority.
Payroll
The salary of the staff should be paid on the basis of the employment agreement
with the company.
3. The concerned section of finance and accounts department should process the
vouchers and send to the proper authority for approval.
5.The amount in the vouchers as found and approved should be made available to
the concerned after posting to the concerned account.
4.8 Advances
There may require some unavoidable advance such as: Advance to vendor for
specific product. Advance to employee on humanitarian ground Whatever the
nature of advance this should be made available to the beneficiary after proper
approval from the top management of the company. The department should take
necessary steps to realize the advance as per understanding.
Prepayments required for rental office should be made available as per agreement
on approval by the management. The department of finance and accounts should
adjust the prepayments as per agreement. No lapse in this regard will be allowed.
In addition, there require some security deposits for securing business telephone,
customs etc. these should be made through cheque subject to the approval from the
management. The corporate finance and accounts department will be responsible to
bring back the same at the end of the stipulated period. In addition, the transactions
should be accounted for properly.
Investment
Investment policies are too complex to fully discuss here, but controls for
managing investments should include the following:
• The present policy in this regard is to place fund in fixed deposit reserve with
banks and in saving certificated issued by the government.
• The investment will be made when the board of directors takes decision.
• The interest earning in this regard will be accounted for on maturity of the
investment.
The general ledger (G/L) accumulated all accounting activities for an accounting
period. The importance of the (G/L) systems become apparent in light of a double
entry objective that:-
As stated above, summarization of the month’s activities is done via journal entry.
The different accounting activities that give rise to journal entries are as follows:-
Cash activities
Cash receipts:
Disbursements:
Posting is required at the time of each payment individually to the respective head
of accounts.
Operating activities
Accounts payable:
Salary for the working month is to be paid and at the end of each month
payable account for salary is to be posted and when paid payment is to be
adjusted in reporting software. 30
Depreciation:
Prepaid/ Advanced:
Additional entry:
Any additional journal entry, if required must be supported by proper
documentation