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It contain no material previously published or written by another person, nor has this
material, to a substantial extent been accepted, for the award of any other degree or
diploma of the university or other institute of higher learning. I was in regular contact with
the nominated guide and contacted several times for discussing the project.
Raghoo Dalela
1872270036
ACKNOWLEDGEMENT
This research project report is one of the important parts of MBA program conducted at
Axis colleges, Kanpur. It has helped me to gain a lot of experience and insights benefiting
my career.
I did an internship at Kanpur Electricity Supply Company LTD from 07 June 2019 to 04
July 2019. It is one of the leading company of India. My area of work was to Accounting
and Finance Technique. I am thankful and fortunate for having an opportunity to work in
an active, friendly as well as challenging environment of the company.
I express my gratitude and profound thanks to Mr. Pankaj Saxena and Mr. Ashish Dixit,
project guides in Kanpur Electricity Supply Company LTD who have guided and helped
me in preparation of the project.
I take this opportunity to express my deep sense of indebtedness and gratitude to Dr. Vineet
Kumar Pandey , Head of Department(AIPM) for his encouragement, support and
guidance in carrying out the project.
Last but not the least; I am grateful to my parents, friends and all those who have directly or
indirectly helped me during my project work.
RAGHOO DALELA
PREFACE
Every organization has adequate working capital for its efficient functioning. The growth
can be ensured by a systematic and continuous analysis of fixed assets, current assets, fixed
and current liabilities, sales liquidity etc. An analysis of financial statements will help to
identify the weak points and convert it to strong points by taking some remedial measures.
The present study is an attempt in this direction.
TABLE OF CONTENTS
1. Introduction 2
2. 5
Company profile
3. Research Objective
16
4. Review of Literature 18
Research Methodology
i. Research Problem 20
v. Sample area 22
8. Limitation 31
9. Conclusion 33
10. Recommendations 35
11. Bibliography 37
12. Annexure 38
Questionnaire 39
TABLE OF FIGURES
This is internship report based on the one month period internship program that I has
successfully completed in THE KANPUR ELECTRICITY SUPPLY COMPANY
LTD(KESCO) under accounting and finance from 07.06.2019 to 04.07.2019 as a
requirement of my MBA program on AXIS COLLEGES. Kesco is the company which deal
with the electricity distribution in Kanpur.
The objectives of the report is to identify how theories and concept are discussed in my
educational program can be practiced in the aspect of accounting and finance Procedure at
the KANPUR ELECTRICITY SUPPLY COMPANU LTD(KESCO)in Kanpur.
As usual, primary data and secondary data were used to prepare this report. Primary data
came from my day to day observation. Secondary data was collected by company books
accounts, website, and relevant books. I tried to minimize to bias and produce an unbiased
report.
This report tried to look on how accounting and finance process have done. This report also
shows my observation on accounting and finance process. This report provides some
recommendation which may help to improve their process.
Finally, the report allows focusing on theories and concepts used in THE KANPUR
ELECTRICITY SUPPLY COMPANY LTD (KESCO) to relate with academic purpose.
INTRODUCTION
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1. History of Accounting and Finance
Financial Accounting is the field of accounting concerned with the summary, analysis and
reporting of financial transactions related to a company.
The two types of methods are financial accounting are cash and accrual.
Cash Accounting-
The cash basis of accounting recognizes revenues when cash is received, and expenses
when they are paid. This method does not recognize accounts receivable or accounts
payable.
The cash method is also beneficial in terms of tracking how much cash the business
actually has at any given time; you can look at your bank balance and understand the exact
resources at your disposal.
Accrual basis accounting-
Accrual accounting is a method of accounting where revenues and expenses are recorded
when they are earned, regardless of when the money is actually received or paid.
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Accrual basis accounting without careful monitoring of cash flow can have potentially
devastating consequences.
A disadvantage of the cash method is that it might overstate the health of a company that
is cash-rich but has large sums of accounts payables that far exceed the cash on the
books and the company's current revenue stream. An investor might conclude the
company is making a profit when, in reality, the company is losing money.
The disadvantage of the accrual method is that it doesn't track cash flow and, as a result,
might not account for a company with a major cash shortage in the short term, despite
looking profitable in the long term.
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COMPANY PROFILE
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2. Company Profile
The Kanpur Electricity Supply Company Ltd. (KESCO) formerly known as Kanpur
Electricity Supply Authority) is an electrical power company in Kanpur, India. A
Government of Uttar Pradesh undertaking, part of Uttar Pradesh Power Corporation
Limited, it was formed on 14 January 2000, and supplies power to the entire area under
the Kanpur Municipal Corporation
KESCO is responsible for distribution and bulk supply of power in Kanpur and provides
power to over 427,158 consumers, consisting of approximately 350,000 domestic, 73
thousand commercial, eight thousand others including small, medium, large, and heavy
power connections. Maintaining all the consumers through a network based on 61
electrical substations of 33/6.6 kV level, 333 feeders of 11 kV level and more than 3000
distribution transformers of different levels. Currently. Mrs Saumya Aggarwal is the
Managing Director at KESCo
In pursuance of a reform- restricting exercise, erstwhile UPSEB was unbundled under the
first reform transfer schemes dated 14th Jan 2000, into three separate entitities:-
UTTAR PRADESH POWER CORPORATION LIMITED(UPPCL)- vested with the
function of transmission and distribution within the state.
UTTAR PRADESH POWER RAJYA UTPADAN NIGAM LIMITED(UPRVUNL)-
vested with the function of thermal generation within the state.
UTTAR PRADESH JAL VIDYUT NIGAM LIMITED(UPJVNL)- Vested with the
function of hydro generation within the state.
Need for the further unbundling of UPPCL( responsible for both transmission and
distribution function) along functional lines was again after the enhancement of the
Electricity act 2003,and four other companies (“ discoms”) were created vide Uttar
Pradesh transfer of distribution undertaking schemes 2003.Though another transfer
schemes dated 15th Jan 2000, assets, liabilities and personnel of Kanpur Electricity supply
company( KESCO), a company registered under the companies act,1956.
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2.1 Vision & Mission
a. COST EFFECTIVE
b. GOOD QUALITY
c. 24*7 POWER SUPPLY AND AT COMPETITIVE RATE TO ALL THE CONSUMER
OF STATE OF KESCO.
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2.3 New Service Connection
Procedure
New Service Connection procedure is made easy through Web Self Service. Now consumer
can apply for new service connection online.
New Service Connection Processing Fee Rs 100 and 200 with respect to apply load and
Tatkal charges Rs 800 for Domestic and Rs 1100 for Commercial connection.
To apply for Domestic connection consumer have to select main category as LMV-1 and
Supply type as Domestic Other Metered Urban- Other than Life Line.
To apply for Commercial connection consumer have to select main category as
LMV-2 and Supply type Non-Domestic Other Metered.
The consumer can upload support documents through online or She/he can submit
at concern Sub-Division, Customer must carry the following documents for
registration purposes.
Welcome to the "NIVESH MITRA", a dedicated Single Window System of Govt. of Uttar
Pradesh.
Nivesh Mitra
i. Transparent, unified, one-stop solution for investor on boarding & time delivery of
services.
ii. Online access, document submission & processing of application forms for setting up of
industries/enterprises.
iii. Provision of Common Application Form (CAF) for applying to pre-establishment and
pre-operation clearances/approvals.
iv. Details filled by entrepreneur in CAF being auto populated in clearance specific
application form.
v. Online payment of processing of application fees.
vi. Provision to download final approved digitally signed NOC in PDF format.
vii. The ‘Know your Approvals’ feature to assist investors in understanding the approvals
required.
2.7 Privacy Policy
This policy explains how KESCO treats your personal information, and protects your
privacy, when you use the services.
You agree and understand that you are responsible for maintaining the confidentiality of
passwords associated with any account you use to access the services.
Security and Virus Protection: No data transmission over the Internet can be guaranteed
as totally secure. While we strive to protect such information, we do not warrant and
cannot ensure the security of any information which you transmit to us. Accordingly, such
transmission is at your own risk. We will not be liable for any damages or loss arising out
of or resulting from any unauthorized access to, alternation to or modification of
information contained on this website. We accept no liability for any loss, disruption or
damage to your computer system or your data caused by using this website or arising as a
result of having website.
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2.8 Cash Expenditure
A cash book is a financial journal that contains all cash receipts and payments, including
bank deposits and withdrawals. Entries in the cash book are then posted into the general
ledger. Larger firms usually divide the cash book into two parts: the cash disbursement
journal that records all cash payments, such as accounts payable and operating expenses,
and the cash receipts journal, which records all cash receipts, such as accounts receivable
and cash sales.
Image Showing Cash Book used in Kesco
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2.10 Temporary Imprest and Personal Imprest
The most well- known type of imprest is a petty cash account. Petty cash is used for
transactions for which it doesn't make sense to go through the hassle of writing a check. It
is typically a set amount of cash held on-site that a business can use to reimburse
employees and pay for small expenses.
GPF stands for General Provident Fund. It is a provident fund account available for the
government employees. In this fund, the government employees contribute a certain
percentage of their salary to the account. The accumulated amount is paid to the employee
at the time of superannuation or retirement.
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2.12 CPF( Contributory Provident Fund)
Contributory provident fund is that in which employee and employer make their
contribution for the benefits of his employees. Provident fund is one of secured fund in
which the
contribute a part of their salary and the employer also contributes o behalf of their
employees.
2.13 Voucher
A voucher is an accounting document representing an internal intent to make a payment to
an external entity, such as a vendor or service provider. A voucher is produced usually
after receiving a vendor invoice, after the invoice is successfully matched to a purchase
order. A voucher will contain detailed information regarding the payee, the monetary
amount of the payment, a description of the transaction, and more. In accounts payable
systems, a process called a "payment run" is executed to generate payments corresponding
to the unpaid vouchers. These payments can then be released or held at the discretion of an
accounts payable supervisor or the company controller.
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iv. Testing products and processes.
Maintenance expenses are the costs incurred to keep an item in good condition or good
working order. Sometimes items that are merely leased and not owned, such as a leased
car, will require the operator to pay maintenance expenses
Ensures that all transactions and accounting records are in accordance with generally
accepted accounting principles and applicable laws, and shall be in sufficient detail to
permit an annual audit
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2.17 Salary Head
A salary is a form of payment from an employer to an employee, which may be specified
in an employment contract. It is contrasted with piece wages, where each job, hour or
other unit is paid separately, rather than on a periodic basis. From the point of view of
running a business, salary can also be viewed as the cost of acquiring and retaining human
resources for running operations, and is then termed personnel expense or salary expense.
In accounting, salaries are recorded on payroll accounts.
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2.19. NCR(National Cash Register)
National cash Register includes all the payments received from all the four circles.
All payments received in cash and cheque is been maintained in the same register.
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RESEARCH OBJECTIVES
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3. RESEARCH OBJECTIVES
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Review of Literature
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4. Review of Literature
A huge number of studies is to be done and also study how a financial performance of
accounting and finance have been carried out during the past, in the developed and
developing countries.
Accounting and finance is the process of identifying the strength and weakness of the
company with the help of accounting information provided in profit and loss account and
balance sheet. It is the process of evaluation of relationship between component part of
financial statements to obtain a better understand of the company position and
performance.
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•
.
RESEARCH
METHODOLOGY
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5. RESEARCH METHODOLOGY
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5.4 Research Methodology
Under research methodology, there are three type of method. They are as follow-
The observation method
The experimental method
The survey method
In observation method data are collected on the direct observation by observing the
employee how they maintained all the cash book account easily.
In experimental method, it is based on the concept that all the employee who are working
in a company and who are coming to deposit an electricity bill in all the divisions are at
large scale.
In survey method information is gathered directly from individual view only.
5.6 Sampling
5.6.1 Sample Population:
There are 200 employees working in the KESCO Company.
5.6.2 Sample Size:
I have taken 20 employees from each department,
There are 2 Department of the KESCO Company which are account and finance. Sample
size is 40( 20*2=40)
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5.6.3 Sample Area:
I am conducting this in the account and finance department.
5.6.4 Sampling Techniques:
The method I am using here is convenient sampling method.
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DATA ANALYSIS
AND
INTERPRETATION
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6. Data Analysis
The data analysis and interpretation contain bar charts, pie charts and other tools for the
purpose of understanding the fact and figure in a specified manners.
The data is magnificently fed into excel tool to extract relevant results.
The researcher present and analyze the data collected through the primary source to enable
him read meaning into the responses to the questionnaire. The collected data presented in
tables, with frequency of each variables calculated the analysis drawn depends largely on
response from the data collected the set of questionnaire.
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6.1 SURVEY
Q1. How to find out the percentage of employee’s salary by the collection of data?
30
25
20
15600-39100
15
9300-32800
5500-9000
10
0
1 2 3
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Q2. Explain some fixed asset of company KESCO as an example?
16
14
12
10 domestic metre
8 commercial metre
6 industrial metre
0
1 2 3
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Q3. Explain the capital turnover of KESCO company in 2016-2019?
2500
2000
Series1
1500
Series2
1000
Series3
500 Series4 Series4
Series3
0 Series2
year Series1
capital turnover ( in crore)
profit
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FINDINGS
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7. FINDINDS
i. The finding of the study on accounting and finance strategy prevailing in the company is
very effective. The employees are quite satisfied with the current method of doing work in
the company ie; handwritten work.
ii. As per the studies conducted and the data analysis done I found that the techniques of
doing work in accounting and finance department are at great attention.
iii. Accounting and finance is the process of identifying the financial strengths and
weakness of a company by properly establishing relationship between the items of the
balance sheet and the profit and loss account.
iv. It is found that the capital turnover of 2018 is more than other year of capital turnover
ie; in 2016,2017 and 2019 etc.
v. In accounting and finance technique all the employees coordinate with each department
easily.
vi. Company has attention only on accounting and finance techniques ie; maintaining
proper cash ledgers, maintaining all the cash expenditure related to item they study in
accounting and finance only.
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.
LIMITATIONS
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8. LIMITATIONS
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CONCLUSION
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9. CONCLUSION
On the basis of my experience during the 30 days summer training analyzing the data was
collected face to face conservation with the people I conclude this project work with the
word that – I feeds very pleasured to conclude my project report. It was a nice experience
from both the part that is knowledge as well as practical aspects.
The research and practitioner implications of this paper create an immerse opportunity for
employees to become more effective in establishing and developing long term satisfying
relationship with the consumer easily.
The efficiency of asset management influences the cost and availability of credit, which
shapes the capital structure of the accounting and finance techniques followed at KESCO
Company.
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RECOMMENDATIONS
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10. Recommendations
On the basis of above report and some other facts I realized during summer training there
are some recommendation for the company which is beneficial for the growth of company.
This research is an initial step in designing a model to assess and develop accounting and
finance skills. There is a tremendous opportunity to generate new knowledge that would
explore financial work on their communication skill and their own perception of the
intimidating behaviour. So often cited by the consumer in this study.
Problem in this research project was to study the impact or effect of manually work in
accounting and finance procedure. So according to my survey partners are highly aware
about the accounting and finance procedure and most of the partner were interested in
doing online work only.
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BIBLIOGRAPHY
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11. BIBLIOGRAPHY
11.1 WEBSITES:
i. Https://www.google.co.in
ii. Https://www.accountingweb.com
iii. www.kesco.co.in
iv. Https://slideshare.net
v.https://www.seminarsonly.com/Engineering-Projects/Finance/Financial-Accounting-
Projects-Topics.php
vi.https://www.seminarsonly.com/Engineering-Projects/Finance/Analysis-of-Financial-
Statement-by-Using-the-Technique-of-Ratio-Analysis.php
vii.http://uperc.org/app_file/apdrpschemeforkesco-23-02-2005-pdf85201134911pm.pdf
viii.https://www.scribd.com/doc/88351687/Financial-Accounting-Final-Project-Report
11.2 BOOKS:
i. Warren Buffett, Accounting Books, Stig Brodersen and Preston Pysh, 9th Edition, 2014
ii. I.M Pandey , Financial Management, 11th Edition
iii. S.M Shukla , Financial Accounting, Sahitya Bhawan Publications, 12th Edition, 2015
11.3 JOURNALS:
i. Mohammad Rahimi , (2017)- journals of finance and accounting, IISN No: 2330-7331,
Volume 4, No.5, November 2017.
ii. Vivien Beattie (2013)- accounting and finance research, IISN No: 0001-4788, volume 2,
No. 6, April 2013.
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ANNEXURES
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12. QUESTIONNAIRES
Dear sir/ma’am,
I am doing a research work to identify the Accounting and finance technique followed at
KESCO Company ltd. I would request you to kindly spare sometime to fill this
questionnaire.
1.YES ()
2.NO ()
1. YES ( )
2. NO ( )
1. YES [ ]
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2. NO [ ]
1. GOOD
2. BAD
3. NONE OF THE ABOVE
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THANK YOU
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