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HLB Ijaaz Tabussum & Company by Mehar PDF
HLB Ijaaz Tabussum & Company by Mehar PDF
HLB Ijaaz Tabussum & Company by Mehar PDF
Internship Report submitted to the Faculty of Management & Administrative Sciences in Partial Fulfillment of the Requirements for the Degree of Master of Business Administration.
UNIVERSITY OF GUJRAT
Date of Submission Name of Program Coordinator ___________________ Signature of Program Coordinator_________________
Acknowledgement
In the name of thy Lord who created, man from clot. Thy Lord is the most Bounteous who taught man that he knew nothing. Above all we are indebted to almighty ALLAH, Lord of our lives and of everything in the universe and his Holly Prophet (P.B.U.H) whose blessing enabled us to perceive life. By the grace of Allah Almighty we have been able to complete our work. We would like to thank The Commerce Department for giving us the opportunity and providing us with a platform to prove our mettle. We would particularly like to thank our Supervising Members and other members who have patiently and incessantly guided us in completing this task. Their collateral assistance helped us realize and achieve what we initially aimed at. Finally, we would specially like to thank our families and friends who were always there when we needed them and also were never around when we did not need them! This report would not have been possible without them. We also offer heartiest thanks to all the persons who guided us and encouraged to complete this tough task successfully.
Table of Content
Executive Summery Main Body Of Report Overview of Organization Services of Company Organization Structure Management Hierarchy Introduction of Departments Functions Of Departments Work Done During Internship (internee work) Weekly Time Table Duties & Responsibility SWOT Analysis Recommendations Refernces 1 2 3 6 9 10 11 23 23 27 45 52 54 55
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At the end of this report we analyze the flaws of each department and also give our recommendations to improve management and the working of the organization.
Part I
2.1 Introduction:
During Master in Business Administration it is compulsory for every student to get the internship of six weeks from any business sector through which he can explore his knowledge. So, I was looking for the organization for the purpose of internship and for gaining the practical experience. After consulting my elders, seniors and with my own thinking I decided to do internship in audit firm instead of any bank or any manufacturing organization because in audit firm I can get the real practical experience and knowledge related to my interest. .For this purpose I have chosen HLB Ijaz Tabussum & Co. (Chartered Accountants) Gujranwala branch. They required a recommendation letter from the University and CV. HLB Ijaz Tabussum & Co the audit firm is one of the biggest firms of Gujranwala and has so many very clients in Gujranwala and other cities also. HLB Ijaz Tabussum & Co has a very good reputation because of their work. Clients of HLB Ijaz Tabussum & Co are very satisfied from the firm work. With this company I tried to implement educational experience in this company. Auditing section of CA firm support me to do audit in different type of organization and share with me their experiences. This research report is the reflection of my working
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experience at this company and summary of my responsibilities that had been bestowed on me.
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of clients are owner-managed or director-controlled businesses and many are Stock Exchange listed. HLB member firms handle multi-national assignments varying enormously in size and complexity in most parts of the world. The regular involvement of HLB member firms in multi-national assignments, working with colleagues around the world, means that they are well aware of the needs of clients with international operations and can respond accordingly. 2.2.3.1 Clients of HLB Ijaz Tabussum & Co: In Gujranwala HLB Ijaz Tabussum & Co. is working as market leader, it has more than 100 clients in different sectors. Client portfolio comprises of large as well as medium to small-sized organizations in the public and private sectors. HLB Ijaz Tabussum has serviced clients in the following sectors:
Agriculture Automobile Cement Electrical Goods Power Engineering HealthCare Hospitality Mineral Mining Oil & Gas Textile Tobacco Utility Companies
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As Gujranwala is a rural urban area so clients of HLB Ijaz Tabussum & Co are not very big firms but it has more clients as compared to other audit firms operating in Gujranwala. Actually HLB Ijaz Tabussum & Co is an audit firm which provides the financial help and service to their clients which registered in ICAP. HLB Ijaz Tabussum & Co. has a very big business volume because of long history and a great goodwill. Iyaz Ahmad CEO is a very hardworking person which built up a good name in his field and has so many high clients like, Pak pipes steel industry Master Tiles Super Asia Pioneer industry Climax Asia Fan Heno Fans Faisal Industry Golden Pumps Gujrat Chamber of commerce Different Schools Hospitals
And so many others, all clients of HLB Ijaz Tabussum & Co are very satisfied from the work of it. The market share of HLB Ijaz Tabussum & Co is so high. 2.2.3.2 Major Competitors: There are not so many competitors of HLB Ijaz Tabussum & Co in Gujranwala. There are main competitors of HLB Ijaz Tabussum & Co in Gujranwala which are as follows: 1. M.A Choudhary & Co. which started their business since 7 years. 2. The second competitor of HLB Ijaz Tabussum & Co is Ch. Shafaqat Ali & Co. Which started their business from 3 years which also not a very shocking competitor of HLB Ijaz Tabussum & Co.
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3. Rahim Jan & Co. 4. M. Hussain Ch. & Co. 5. Ibrahim Sh. & Co 6. Hameed Khan & Co. 7. Hameed Ch. & Co. 2.2.3.3 Comparison Competitors: No doubt HLB Ijaz Tabussum & Co is best from their all competitor in all aspects. HLB Ijaz Tabussum & Co. is very old firm and has a very great goodwill and then I come to know that more people rely and feel confident on it. There are so many aspects which made HLB Ijaz Tabussum & Co. best from their competitors and some of these are as follows. Old history Good reputation People confident Clients priority Employs seniority Confidential Employs loyalty High market share Business explorer
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Accounting Audit and Assurance Services Business Recovery & Liquidations Business Structuring Corporate Finance Forensic Accounting Risk Management Business Start Up mentoring Management Consulting and coaching Strategic planning mentoring business consultancy on-line book keeping e-commerce Taxation management
Every service sectored has its products in the form of its services. So, that HLB Ijaz Tabussum and Co. has also its various products in the form different services with they have provided to the clients. The three major services are as follows: 2.2.4.1Taxation: HLB Ijaz Tabussum Co. provides to its customers the taxation consultancy. In tax consultancy the firm provides to his customers the consultancy of sales tax return, income tax return, calculation of income tax, the replies of the notices given to the client from FBR, online registration of clients in FBR and E-filing of returns. The firm also gives the consultancy by making the wealth statement of the clients if the FBR by notice demanded from the client. 2.2.4.2 Audit & Accountancy: Today in that modern era in the organizations the managers and the owners are two separate entities. So, that the owners and the shareholders want to know that is there firm is running well or not? They want the surety that there
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is not any material misstatement in the books of account and the management has not conducted any fraud. So that the management hire the auditor for audit the books of accounts. So, that the HLB Ijaz Tabussum also provides the same services to the organizations and different companies. The firm also made the financials of different companies in which it made the trading and profit and loss account, balance sheet, cash flows, the ratio analysis and the projected financial statements for future financial years. OUR RANGE OF SERVICES INCLUDES THE FOLLOWING: Statutory audit Internal audit Cost audit Investigation and forensic auditing Preparing interim management accounts, Training of the accounting staff. Improvement of existing system and training of staff and officers to understand and follow newly improved system. 2.2.4.3 Management & corporate consultancy: In the corporate consultancy HLB Ijaz Tabussum & Co. deals with their customers and collects the payments from different banks and customers. For the purpose of audit the audit fee and audit planning is shared by the clients in the consultancy department. It helps the clients of solve their different problems relating to the accounts. Our range of services includes the following: Project financing and working capital financing Financial management and organizational research and studies Management information system (MIS) Management audit and performance evaluation studies
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Designing of accounting system, procedures and methods Corporate budgeting and planning Business acquisition and disposal support Monitoring of effective use of funds Capital expenditure planning and control Preparation of feasibility reports Undertaking turnkey assignments/projects including financing procedures arrangements for long term/short term financing underwriting etc.
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2.3.1 Organizational Hierarchy chart:
,, ,
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c, , ,,
,,a,
OQ,,M, ,
:,, M,
OM,MOOM,MOM,, ,,
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2.3.2 Number of employees: Firm collectively, have 1,900 partners and 14,500 staff in 500 offices in over 100 countries. In our branch in Gujranwala there are 5 permanent employees working in the firm out of which three are the managers of different departments of the firm. There are also some internees, doing ACCA, C.A and masters of accounting and business administration, working under the supervision of the employees. 2.3.3 Main Offices: Our professional partners and their branches of HLB firms as under. Ijaz Akber FCA, FITM, FICS (Brief resume on page 07) M. Aslam Tabussum FCA (Eng. & Wales) (Brief resume on page 08) Iyaz Ahmad FCA Abdus Salam Jan FCA Muhammad Waheed ACA (Afghanistan) Gujranwala Peshawar Kabul Lahore Islamabad
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In the taxation department, tax consultancy and guidance is provided to different clients whenever it is needed. Monthly E-filing of sales tax returns and E-filing of income tax return is also done in this department of the firm. Following are the services that are provided under the head of auditing department. Tax consultancy:
HLB Ijaz Tabussum & Co. is one of the market leaders for tax services. We assist businesses, individuals and organizations with tax strategy, planning, and compliance, whilst also delivering a wide range of business advisory services with dedicated tax professionals. We take a holistic view, combining industry insight with the technical skills of financial and tax professionals and our other in-house resources as necessary, to develop comprehensive integrated solutions. We have experience of working with an expansive and diverse client-base comprising all types of businesses multinationals, local companies, privately-owned organizations, entrepreneurs, family businesses, trusts, partnerships and private individuals. Tax services include the following: v Income Tax v Corporate Taxation v Non Resident Taxation v Personal Taxation v Specialized Services v Indirect Taxation (Sales Tax, Customs & Federal Excise) Income Tax
The objective of our tax services is to deliver integrated solutions that result in most tax efficient structure. We also provide business advice tailored to meet the specific needs of individual clients. We suggest doable options always keeping in view the fact that such options should be within the legal framework.
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Corporate Taxation
Our range of services in the area of corporate taxation includes: Preparation and filing of tax returns. Advisory services on interpretational issues in the tax laws. Determination of income and chargeability of tax. Obtaining exemptions and withholding tax certificates on behalf of clients. Assisting the client in preparation, review and filing of various statutory statements. Compliance services relating to corporate taxation including advance payment of tax. Assisting the client in preparation of reply of notices issued by various taxation authorities. Representations before tax authorities and Central Board of Revenue. Representing the clients before various appellate forums. Non Resident Taxation The tax services are also provided to non residents and the partners are capable to handle intricate tax issues involving nonresident taxation. The services interlaid include the following: Advising nonresident on transactions before these are entered into. Obtaining Advance Ruling from CBR on tax treatment of any proposed transaction. Advising on tax implications of stock options plans. Advising the tax implications under various Agreements for Avoidance of Double Taxation (Treaties). Personal tax services including International Executive Tax Services. Specialized Services Our specialized services encompass the following: Researching tax implications of proposed business transactions or of new businesses.
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Assisting in the preparation of and in obtaining various approvals for employee retirement schemes such as Provident Fund, Gratuity Fund and Pension Fund. Indirect Taxation (Sales Tax, Customs & Federal Excise)
Over the past few years, the indirect tax net has spread all over the economy, covering almost all sectors of business. Lack of knowledge on the part of tax administrators / tax payers coupled with abrupt changes in law require the provision of timely and effective business advice to help organizations plan and implement the required compliance measures.
2.3.4.2 Auditing Department: In the audit department audit teams visit the client premises and verify the different accounts and balances when the financial year closes. Following are the services that are provided under the head of auditing department. Assurance:
The role of assurance services in the running of a successful business has changed beyond just fulfilling statutory requirements. We offer appropriate and timely advice in addition to statutory reporting, which enable our clients to effectively handle issues requiring immediate attention and further assist them in taking informed decisions on timely basis. Assurance services include the following: v Corporate Reporting Improvement v Financial Statement Audit v Sustainability Reporting v Independent Controls & Systems Process Assurance v Internal Audit v Regulatory Compliance and Reporting Corporate Reporting Improvement
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Reporting more comprehensively on important non-financial assets can often improve the valuation of your company in the capital markets. Research shows that investors and analysts consider financial reports by themselves to be of limited use in determining a company's prospects. HLB Ijaz Tabussum & Co. can assist organizations that need to ensure the quality and credibility of internal management information and external disclosures and, in particular, nonfinancial indicators. Our professional leadership on issues related to nonfinancial performance reporting, has not been limited to simply advocating reform. Instead, HLB Ijaz Tabussum & Co. can help its client in the practice of non-financial performance reporting with the development of Value Reporting the most comprehensive and robust approach to reporting transparency available in the marketplace. Financial Statements Audit
The financial statement audit has never been more important. In today's business environment there is more scrutiny and skepticism of a company's financial statements than ever before. For organizations that require an audit for statutory or regulatory reasons associated with the filing of their annual and periodic financial information, HLB Ijaz Tabussum & Co. can provide high quality audit services. HLB Ijaz Tabussum & Co work takes into account all current and where appropriate prospective auditing, accounting, and reporting regulations and guidance. Sustainability Reporting
Shareholders expect your company to generate profits. But, they also want your company to assume its responsibilities to contribute to society while minimizing any negative effects on the environment. For companies looking to improve business performance and create long-term shareholder value, HLB Ijaz Tabussum & Co. can help develop a corporate social responsibility (CSR)/sustainability strategy that focuses on key issues for your business and enhances relationships with key stakeholder groups.
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We can assist our clients in the areas of corporate governance and business ethics, environmental health and safety management, social responsibility, strategy and economics, responsible supply-chain management, and reporting and assurance of non-financial information. Independent Controls & Systems Process Assurance
Attention to the design, documentation and operation of controls is critical to ensuring the accuracy and timeliness of information used for financial reporting and management decision-making. HLB Ijaz Tabussum & Co. provides services related to controls around the financial reporting process, including financial business process and IT management controls. Internal Audit
Internal audit function in todays world needs to walk on a fine line between providing assurance and consulting to management without impairing its objectivity and independence. We can assist organizations that need help improving the quality and effectiveness of their internal audit processes in a number of ways. First, by advising and assisting in the development of internal audit and risk management methodologies, including assessing whether the internal audit function is delivering effectively to stakeholders. Second, by providing internal audit resourcing solutions, including full outsourcing or complementing in-house functions with specialist skills or geographical coverage. In addition, we can develop training for internal auditors using our extensive market and industry knowledge to create highly tailored solutions. Regulatory Compliance & Reporting
Regulatory compliance and reporting needs to be viewed as a natural extension of the governance duties entrusted on top management and corporate boards. For all organizations engaged in activities that come under the control of a regulator, HLB Ijaz Tabussum & Co. provides support, advice, and assurance to help you manage your regulatory risks. In an ever-changing
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regulatory environment, we help ensure that you identify, manage, and control any existing and future regulatory risks. A proactive rather than a monitoring approach to regulation is now a full time strategic necessity. HLB Ijaz Tabussum & Co. experienced regulatory risk specialists, who not only know the rules, but have also, implemented and assessed compliance against them. Our people can help you at the strategic level by maximizing any competitive advantages from regulation through to the operational level and by minimizing the costs and disruptions to your business, thereby freeing up management time in the process. 2.3.4.3 Corporate consultancy department: Financial consultancy: Finance professionals provide comprehensive expertise, encompassing mergers, advice and execution
acquisitions, divestitures, restructurings, private placements, privatizations and equity capital markets to clients ranging from corporations and financial institutions; adding value for our clients throughout all stages of the process. Financial Consulting services include the following: v Financial Performance Improvement v Financial Accounting v Accounting Valuation v Advice on Fundraising v Financial Due Diligence v Mergers & Acquisitions Advisory v Project Finance v Structuring Services Financial Performance Improvement
We support CEOs, CFOs, Controller and Treasurers to optimize the structure of their Finance functions thus improving contribution to business.
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We structure our support to ensure that Finance addresses the challenges of achieving appropriate standards of control, efficient back office opportunities and support to the business through insight and challenge. Recently, the emphasis of Finance has been control and efficiency characterized by a heavy focus on compliance delivered through streamlined back office models. Financial Accounting
With the advancement in International Financial Reporting Standards (IFRS) for many of our clients, financial accounting has become a lot more complicated. And if the past few years are any guide, the future holds more regulations, new requirements, and an increasing compliance burden. Accounting Valuation
International Financial Reporting Standards (IFRS) introduce significant changes to the way that accounts must be prepared and presented, requiring a wider range of assets to be valued on an annual basis. IFRS changes the accounting treatment for acquisitions. All assets (tangible and intangible) from a merger or acquisition now have to be included in the balance sheet of the acquirer at their current market value and are depreciated over their useful economic life. Goodwill is now tested for impairment annually, and is marked down according to the conclusions of that annual process. A range of financial assets now also need to be valued under IFRS, including financial instruments and insurance contracts. IFRS requires# share options to be valued as they are charged against the profit and loss account on an annual basis. These considerable changes call for specialist valuation services that both understand the specific accounting implications and the wider commercial context in which those accounting valuations will apply.
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HLB Ijaz Tabussum & Co. valuation services draw on considerable technical and financial specialization, as well being able to access accounting specialists to deliver integrated advice to our clients. Advice on Fundraising
Raising finance to fund expansion plans means examining a wide range of issues and answering a complex set of questions. The capital markets have a challenging environment and selecting the right location and structure requires considerable insight and experience. HLB Ijaz Tabussum & Co. has experience of advising businesses on their fund-raising plans in all markets. Whether through a public or private market, through equity or debt instruments, our experience covers all possible scenarios and our independence means that we focus solely on identifying and structuring the best source of finance for our client. We have understanding of local markets, and can help clients to negotiate the challenges that may otherwise derail the unprepared. Our networks of contacts and deep relationships with countless sources of finance place us in the best possible position to make sure that our clients get the finance that fits their purposes and helps them meet their goals. Financial Due Diligence
All businesses involved in an acquisition, as buyers or sellers, need to ensure that the financial information they hold is as accurate as possible, not only to prevent paying too much (or in a sellers case receiving too little) but also to ensure that their governance and risk management objectives are met. Mergers & Acquisitions Advisory
A merger or acquisition can add considerable value to a business, but making sure that each stage of the transaction process from valuation to
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negotiation and completion is successful demands considerable
experience and knowledge. Our services are designed to help our clients reach their strategic goals by Identifying and then implementing opportunities to merge with or acquire other businesses. Many drivers can affect a deal; from regulatory restrictions to tax issues. As the professional services organization, we can call upon our dedicated specialists to address any specific challenges that may arise. Project Finance
Funding for large projects (like infrastructure projects) is a complex area, and there are specific challenges involved in creating the appropriate finance structures to manage risks effectively. HLB Ijaz Tabussum & Co. has experienced professionals who have working experience with both governments and private sector bidders. We help the public sector develop the right approach to procurement. We help private sector partners to get the best out of the process. Structuring Services
A number of different considerations can influence the optimal structure for a deal requiring a balance between the objectives behind the deal and accounting, tax, regulatory and commercial considerations. We help clients to identify the principal concerns that will determine the right structure for a transaction. We can assist with marshalling the complex range of factors including tax, legal, accounting and regulatory issues that will need to be considered together. We create a feasibility plan to assess the chosen structure and once this is confirmed as the right choice we will provide continuous support throughout implementation.
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Business Consultancy:
Today's business world is fast-paced. To succeed, you must seize the opportunities while also managing the risks. You need to move quickly, but you also need long-term strategies to help ensure your business can cope with the demands placed on it today and tomorrow. HLB Ijaz Tabussum & Co. business consulting practices: Take an objective, long-term view. Deploy professional resources that can bring global knowledge to local issues. Have an integrated approach to client service with teams of experienced professionals with a breadth of specific technical and industry sector skills. HLB Ijaz Tabussum & Co. provides advice and assistance to companies, corporations and other concerns. Our services can help you respond to immediate needs as well as put in place the strategies for the longer term. Business consulting includes the following: v Business Recovery Services v Dispute Analysis & Investigations v Commercial & Market Due Diligence v Modeling And Business Planning v Information Technology Consulting v Enterprise Risk Management v Human Capital v Aid to Industry v Third Party Assurance
Business Process Outsourcing (BPO) provides accounting, financial reporting and transaction-intensive process support to clients. While your management concentrates on enhancing the core business, our skilled professionals focus
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on your financial accounting and reporting. We perform these functions efficiently and cost-effectively, using a broad knowledge of business processes and financial software packages. These resources not only enhance our ability to help clients with their finance, accounting and applications outsourcing, but also assists them in selecting and implementing software systems; establishing company-wide networks; writing policies and procedures; creating call centers; and, standardizing processing after mergers and acquisitions. Through Business Process Outsourcing (BPO) services, we take over a client's back-office F&A and related procurement business processes and manage them on an ongoing basis. We offer a full IFRS compliant services and solutions, including transaction processing; financial accounting and reporting; statutory/regulatory accounting and reporting; and, transaction processing. Our transaction processing services cover payables, disbursements and expenses; receivables, receipts and revenues; general ledger; and, payroll. Our approach to BPO is a highly collaborative blend of client and firm strengths. We customize each engagement according to our client's processes, internal controls and system requirements.
Under the head of the feasibility studies, HLB Ijaz Tabussum & Co. can conduct the project feasibility study on behalf of the other companies. Firm conduct the study and furnish the comprehensive report on that and make the recommendation to other companies for the project. Foreign study consultancy: Foreign study consultancy is the new service provided by the HLB Ijaz Tabussum & Co. for those students who wish to study abroad and those who
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want the foreign immigration. Mr. Bilal Yaqoob is expert in foreign study consultancy and he provides the consultancy for Canada, England and Australia.
Part-II
2.4 Internee Work:
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I applied for internship in HLB Ijaz Tabussum & co. at Gujranwala office it is basically chartered accountant and audit firm where many dealings with clients and area of official work is big. Chartered accountancy most growing sector in Pakistan related the knowledge of accounting and finance it is the no one field of finance and I think it is the best opportunity for me to get knowledge about my field of finance. This internship is offering me by university (university of gujrat). After some interview & written test by manager recruit me as internee. I join this organization for six weeks it is very short time for learning audit and tax work but I take interest in my job with hard working and gain max knowledge that I can do. I start my 1st day with introduction of organization workers by our branch manager after that my assistant and manager share some experience with me and tell me how to develop relation with our customers and how to face the customer in audit position and how to do tax works. My internship work is mainly divided into two parts firstly I start my work at audit department and complete audit assignments after that I move to tax department and complete my internship time period. As I worked in an audit department & tax department I have read about that in my regular course of study, so all the theories and concepts which I had read in these books are implementing in real life and I realized all the things that we read in books are not just stories but they have some real time applications. Some management concepts are there as well as like in the organization there was authoritarian style of management, the boss or senior give any orders about office work employees have to fulfill that without any argument.
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Situated in 300-A, Main Market, Model Town, Gujranwala- Pakistan, Telephone +92 (55) 3258025, Fax +92 (55)-3257925 2.4.1.1 Duration of internship: I started my internship for six weeks and works in the different departments of the branch under co workers or assistants. Date of joining in HLB Ijaz Tabussum & CO: Date of leaving HLB Ijaz Tabussum & CO: 2.4.1.2 Branch Details: September 04, 2012 October 15, 2012
Branch Name
Gujranwala- Pakistan +92 (55) 3258025 +92 (55)-3257925 Gujranwala Gujranwala Punjab www.ijaztabussun.com
2.4.1.3 History: HLB IJAZ TABUSSUM & CO. is a partnership firm registered under Institute of Chartered Accountants Ordinance, 1961. It was established in early 1970s as a firm of chartered accountants at Lahore by Mr. Muhammad Aslam Tabussum (FCA) and servicing clients through its member firms in over 100 countries.
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2.4.1.4 Number of employees: Firm collectively, have 1,900 partners and 14,500 staff in 500 offices in over 100 countries. 2.4.1.5 Services: By meeting the varying needs of clients over the years HLB International's member firms have developed a comprehensive range of services and expertise. 2.4.1.6 Some of the major services provides are as under: Accounting, Audit and Assurance Services, Business Recovery &
Liquidations, Business Structuring, Corporate Finance, Forensic Accounting, Risk Management, Business Start Up mentoring, Management Consulting and coaching, Strategic planning mentoring, business consultancy , on-line book keeping, e-commerce, Taxation management, legal services, financial services, provides business development coaching and mentoring system.
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Name of supervisor Mr. Farhan Mr. Nadeem Miss Anam Miss Snoober
Department Audit and Accountancy Tax Management Roles & Regulations of organization Customers Dealing
Mr. M. Farhan
Activities Undertaken Date Department Activities 3-Sep12 Audit and Formal introduction with Supervisor and co workers Rules and regulations of the branch Timings of the branch Allotment of my working position(seat)
Accountancy
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4-Sep12 Audit and 5-Sep12 Audit and Accountancy Overview about the previous
documentation of the Audit file Which Documents are arranged in the Audit file Understanding Statements Check last year financial statements of the SDO (Sahil Development Organization) Information about the Mr. CM Taqi Went to audit site which was in progress by Mr. Frhan (Sadeeq Sadiq Trust Hospital) Lightly Introduction with client office staff Job in charge told us how to check the amounts in voucher and ledgers Audit with checking opening balances Job in charge told us checking of vouchers & ledgers Checked the evidence of voucher in files Verify the posting of all Liabilities in ledgers Note the quires of accounts in separate pad Verification of posting in cash accounts Discuses the quires with the accountant of (SSTH) of the Financial
Accountancy
6-Sep12
Audit
and
Accountancy
7-Sep12
Audit
and
Accountancy
8-Sep12
Audit
and
Accountancy
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In this week we completed the audit file of (SSTH) and discuss in HLB office with our manager sir Shahzad and solve all problems and singed the report by CEO. Weekend Date: Report No. Name. 02 Dawood Sadiq Period Covered. 2012 Roll. No. HLB Ijaz Tabussum & Company Mr. Nadeem 11022720088 16-Sep-2012
Mr. M. Farhan
Activities Undertaken Date 10-Sep12 Department Audit and Activities 11-Sep12 Audit and 12-Sep12 Audit and Accountancy Continue with the verification of vouchers Posting in ledgers of remaining months Completed the verification of vouchers and posting Tally the bank ledgers with bank statements Note curries Collected the detail of fixed asset and checked the evidence of assets Check assets Noted down the curies with increased checking End of the day discussed with the accountant physically existence of fixed
Accountancy
Accountancy
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Checked the all previous curies after rectified by the accountant of audited 13-Sep12 Audit and organization 14-Sep12 Audit and 15-Sep12 Audit and Accountancy Completed the documentation and make an audit file All ledgers and evidences and related documents attached in the file Verified trial balance attached in the audit file Presented the file to the manager in office of HLB Ijaz Tabussum & Co. All the report presented on the last day and discuss about it with the manger and the supervisor Then audit file provide to CEO of HLB for singed 2.4.3.3 Report of 3rd week: In this week a new project assigned to our team to have the audit of the SDO Sahil Development Organization situated in Sui gas road, near under pass Jinnah road Gujranwala. SDO: SDO is a nonprofit organization it is a NGO or Welfares organization. Weekend Date: Report No. Name. 03 Dawood Sadiq Period 23-Sep-2012
Accountancy
Accountancy
Covered. 2012
Mr. M. Farhan
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Activities Undertaken Date Department Activities 17-Sep12 Audit and Went to Sahil Development Organization (SDO) for audit. Introduction with client staff or audited organization staff Our senior sir Farhan told us again with detail how to check the amounts in voucher and ledgers. Then we started the audit and first of all we take all ledger accounts in hard copy form or prints off all ledgers. Start tally the opening balances of these accounts with last year financial statements closing balances. We continue the accounts checking by ticking accounts entry and with its entry 18-Sep12 Audit and voucher in voucher file. 19-Sep12 Audit and As it checked the accounts with evidence of voucher in file Note all the quires in accounts checking process. Checked the evidence of entries in vouchers files Verified account balances of all accounts in end of checking all entries Then verify all head of ledger accounts posting under the income. Note all quires in this process. Discuss all quires with accountants and cleared at day end.
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20-Sep12 Audit and 21-Sep12 Audit and 22-Sep12 Audit and Checked the evidence of entries in vouchers files Verified account balances of all accounts in end of checking all entries Then verify all head of ledger accounts posting under the expenditure. Note all quires in this process. Discuss all quires with accountants and cleared at day end. Checked the evidence of entries in vouchers files Verified account balances of all accounts in end of checking all entries Then verify all head of ledger accounts posting under the bank ledgers. Accountancy I am on leave. Accountancy
Accountancy
2.4.3.4 Report of 4th week: Weekend Date: Report No. Name. 04 Period Covered. 30-Sep-2012
Dawood Sadiq
Mr. M. Farhan
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24-Sep12 Audit and Continue checking the evidence of entries in vouchers files of remaining. Verified Then account verify all balances head of of all Accountancy accounts in end of checking all entries. ledger accounts posting under the Liabilities. Checked the evidence of entries in vouchers files 25-Sep12 Audit and Then verify all head under of the ledger cash accounts 26-Sep12 Audit and Accountancy posting
Accountancy
ledgers. Note all quires in this process. Discuss all quires with accountant of SDO and cleared at day end. Collected the detail of fixed asset and checked the evidence of assets Check physically existence of fixed assets Noted down the curies with increased checking End of the day discussed with the accountant Checked the all previous curies after rectified by the accountant of audited organization Completed the documentation and make an audit file All ledgers and evidences and related documents attached in the file Verified trial balance attached in the audit file Presented the file to the manager in
27-Sep12
Audit
and
Accountancy
28-Sep12
Audit
and
Accountancy
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office of HLB Ijaz Tabussum & Co. All the report presented on the last day and discuss about it with the manger and the supervisor 29-Sep12 Audit and Finally audit file completed verified and provide to CEO of HLB for singed and singed or stamped by Iyaz Ahmed and Audit report provided to client organization. 2.4.3.5 Report of 5th week: In last two weeks I worked in Taxation and management department. In these two weeks assigned me to prepare details of various accounts and submitted tax returns under the help of my supervisor sir Farhan. Weekend Date: Report No. Name. 05 Period Covered. 7-Oct-2012 Accountancy
Dawood Sadiq
Mr. M. Farhan
Activities Undertaken Date Department Activities 1-Oct-12 Tax and Managements Made the detail of purchases of Awami Auto Rickshaw industry on Ms Excel. Made the details of Sales of Awami Auto Rickshaw industry on Ms Excel.
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2-Oct-12 Tax and Tax and 4-Oct-12 Tax and Managements Details of expenses for Awami Auto Rickshaw industry on Ms Excel. Details of some electricity bills for Awami Auto Rickshaw industry on Ms Excel. Details of Sui gas bills for Awami Auto Rickshaw industry on Ms Excel. 3-Oct-12 Details of PTCL bills for Awami Auto Rickshaw industry on Ms Excel. Details of mobile phones for Awami Auto Rickshaw industry on Ms Excel. Details of imports for Awami Auto Rickshaw industry on Ms Excel. Details of exports for Awami Auto Rickshaw industry on Ms Excel. Details of expenses for Awami Auto Rickshaw industry on Ms Excel. After making all these details file the tax return for Awami Auto Rickshaw on the web site of FBR. 5-Oct-12 Tax and 6-Oct-12 Tax and Managements Managements The detail of purchases prepare of Rohail traders on Ms Excel. Details of Sales prepare of Rohail traders on Ms Excel. Details of expenses prepare for Rohail traders on Ms Excel. Details of some electricity bills prepare for Rohail traders. Details of Sui gas bills prepare for Rohail traders. Details of PTCL bills prepare for Rohail traders.
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Details of mobile phones prepare for Rohail traders. Details of imports prepare for Rohail traders. Details of exports prepare for Rohail traders. After making all these details file the tax return for Rohail traders on the web site of FBR. 2.4.3.6 Report of 6th week:
14-Oct-2012
Dawood Sadiq
Mr. M. Farhan
Activities Undertaken Date Department Activities Prepare details of PTCL Bills, Electricity Bills, Mobile Phones Bills, Purchase, 8-Oct-12 Tax and Sales, Other Expenses, of Nawaz Traders & company. Prepare details of Sui Gas Bills, Imports and Exports and then file the tax return of Nawaz Traders & company.
Managements
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Prepare details of PTCL Bills, Electricity Bills, Mobile Phones Bills, Purchase, 9-Oct-12 Tax and Sales, Other Expenses, of Anwar brothers & company. Prepare details of Sui Gas Bills, Imports and Exports and then file the tax return of Anwar brothers & company. Prepare details of PTCL Bills, Electricity Bills, Mobile Phones Bills, Purchase, 10-Oct-12 Tax and Sales, Other Expenses, of Ayesha & co. and Amir Mills limited. Prepare details of Sui Gas Bills, Imports and Exports and then file the tax return of Ayesha & co. and Amir Mills limited. Party vise detail of misalliance expenses prepared of Gujranwala Food Industry (GFI). 11-Oct-12 Tax and Party vise detail for entertainment expenses prepared of Gujranwala Food Industry (GFI). Prepared the party vise detail for oil and lubricant expenses of Gujranwala Food Industry (GFI). Party vise detail for Building repair expense made of Gujranwala Food Industry (GFI). 12-Oct-12 Tax and Party vise detail for Vehicle running and maintenance expenses made for Gujranwala Food Industry (GFI). Sorted the total amount paid to all parties for misalliance expense from the Managements
Managements
Managements
Managements
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detail made in last. Tax and Sorted the total amount paid to each party for entertainment expense from 13-Oct-12 previous detail made. Sorted out the total amount paid to all parties for oil and lubricant expenses from the detail made in last day. Tax and Sorted out the total amount paid to each party for Building repair expense and 14-Oct-12 Sorted out the total amount paid to each party for Vehicle running and maintenance expense from the detail made in last day. 15-Oct-12 Main Office Assigned me to arrange the files of Aslam traders. It was my last day of internship, Today we had a fair well party from our manager. After that party I acknowledged and thanked to all of co workers and manager for giving the good time, help and cooperation during internship. Managements Managements
2.4.4 Detailed description of the departments alone with operations/activities of the department you worked in during your internship:
2.4.4.1 Audit and Accountancy Department: Definition: Word audit is derived from a Latin word AUDIRE which means To Hear. In the past whenever the owner of the business feels that there is
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some fraud or disturbance in accounts of organization, he appoints specific person to check the accounts. Such person hears the accountants. Types of Audit: There are two types of audit, which are as follow. 1-Internal Audit 2-External Audit Works performed in Audit Department: Different tasks, operations and procedures that I performed during auditing in audit department are as weekly detail and attach here as follows. We perform audit work or assignment with the help of the following techniques are Ticking, Cross checking, Record curries, Evidence checking, Check physically position, Check ownership, Check depreciation, Check fair market price, Casting, Calling Over, Vouching, Verification, Reporting, Arrangement of file, External party conformation I performed these entire tasks as weekly and prepared weekly reports of tasks as under. 2.4.4.1.1 First week performance: Accomplishments: After some introduction with organization staff I learn about some rules and regulation in which timing of my office job, break timing, position or table and computer where I can do my assigned work. It is the learning of my starting days of week major officially works that I perform is overview of previous documents or files of clients firms and learn how we can arrange our client detail in file. In overview of documents I see audit files of some clients organizations which already done by our staff. In this time period I check carefully the audit file of SAHIL DEVELOPMENT ORGANIZATION (SDO) see all documents of that firm and understand the financial statements of that organization. I also introduced with CM Taqi that is our partner in HLB that perform the services of consultancy and he is a legal advisor for our clients and solves the legal cases of clients firms because he is the advocate of high court. In this week I also went with our audit team that already perform the audit of Sadeeq Sadiq Trust Hospital (SSTH) because this job already in under process before my recruit here I has no understand more knowledge
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about that organization I only see final process of audit. 1st day at (SSTH) introduce me with client staff after that my supervisor Mr. Nadeem told me about audit work how we checks the voucher with ledgers and assign me with other internee to checking opening balances of organization ledgers accounts any problem in this work or mistake or errors record in separate pad in the form of quires. Challenges: I face some challenges to done these activities in which first challenge was to understand the statements of organization and it was very difficult for me to understand all arrangement of audit file documents related audit file. Secondly challenge was to face how to verify and check the amount in voucher to their relative ledger account. There were so many ledgers under one head account like Income, banks, and customers etc so it was difficult to find out the respective ledger account. But I faced & overcome all these challenges with the help of my job in charge. Learning Outcomes: I have no experience of professional work in any organization it is my first chance to do job in a company and I understand that how we implement book knowledge in practical work. I learn about the files documentations of different companys accounts. As it was my first chance to make a part of an audit team it was a wonder full experience for me. In audit work I found so many things like how to work in professional manners, how to deals and work with our seniors, co workers etc. 2.4.4.1.2 Second week performance: Accomplishments: In this week our audit team completed the audit of Saddique Sadiq Trust Hospital. During this completion we done these activities complete checking that is in process of last week by using ticking and some other techniques. After that we collected the detail of fixed asset and checked the evidence of assets and physically existence of these assets. We also examine the fair market value of these assets and check the ownership of these assets. Checked all previous curries already noted down and record new curries at final day end discussed these curries with the
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accountant of Saddique Sadiq Trust Hospital and rectified all the curries. When audit work is completed in this hospital we completed the documentation and prepared audit file all ledgers and evidences and related documents attached in the file. Completed audit file and presented it to our manager in office of HLB Ijaz Tabussum & Co. Challenges: I face some challenges to done these activities in which first challenge was to face how to verify and check the amount in voucher to their relative ledger account. There were so many ledgers under one head account like Income, banks, and customers etc so it was difficult to find out the respective ledger account. Second challenge to check amount of banks ledgers in bank statement during this week because the sequence of amounts in bank statements and ledgers were not same, some time these amounts or changed by this way that company do single amount entry and bank do it more than one entries but total amount is same and a challenge for us to check bank reconciliation statement. After that we face problem to check fair market values of different assets and also to verify the ownership of these existing assets. Another challenge was to understand all arrangement of audit file documents related audit file. But we faced all these challenges with the help of our job assistance and in charges. Learning Outcomes: In this process I learned how we can check the fair market value of assets and how we found the ownership of assets. I learn how to make curries and how solve these curries by consult of accountant. I learn about that how we complete the documentations of audit file and the arrangement of audit file. 2.4.4.1.3 Third week performance: Accomplishments: In this time period I check carefully accounts of SAHIL DEVELOPMENT ORGANIZATION (SDO) see all documents of that firm and understand the financial statements of that organization. In this process of audit 1st day at (SDO) introduction with client staff after that my supervisor Mr. Farhan told me about audit work how we checks the voucher with ledgers and assign me with other internee to checking opening balances of organization
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ledgers accounts any problem in this work or mistake or errors record in separate pad in the form of quires. Challenges: I face some challenges to done these activities in which first challenge was to face how to verify and check the amount in voucher to their relative ledger account. There were so many ledgers under one head account like Income, banks, and customers etc so it was difficult to find out the respective ledger account. Second challenge to check amount of banks ledgers in bank statement during this week because the sequence of amounts in bank statements and ledgers were not same, some time these amounts or changed by this way that company do single amount entry and bank do it more than one entries but total amount is same. Another challenge for us to find out any mistake in accounts and make quires and problem to clear these quires. Learning Outcomes: In this process I learned how we can check all accounts of an organization verified these accounts by ticking and cross checking. How we can note quires in various situations I also get experience to find out mistakes in accounts records. I get some experience to clear quires by discussing these quires with accountant. 2.4.4.1.4 Fourth week performance: Accomplishments: In this week our audit team completed the audit of SDO. During this completion we done these activities complete checking that is in process of last week by using ticking and some other techniques. After that we collected the detail of fixed asset and checked the evidence of assets and physically existence of these assets. We also examine the fair market value of these assets and check the ownership of these assets. Checked all previous curries already noted down and record new curries at final day end discussed these curries with the accountant of SDO and rectified all the curries. When audit work is completed in this hospital we completed the documentation and prepared audit file all ledgers and evidences and related documents attached in the file. Completed audit file and presented it to our manager in office of HLB Ijaz Tabussum & Co. After all this process is completed when this report is examine and sing by the CEO of HLB.
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Challenges: I face some challenges to done these activities in which first challenge was to face how to verify and check the amount in voucher to their relative ledger account. There were so many ledgers under one head account like Income, banks, and customers etc so it was difficult to find out the respective ledger account. Second challenge to check amount of banks ledgers in bank statement during this week because the sequence of amounts in bank statements and ledgers were not same, some time these amounts or changed by this way that company do single amount entry and bank do it more than one entries but total amount is same and a challenge for us to check bank reconciliation statement. After that we face problem to check fair market values of different assets and also to verify the ownership of these existing assets. Another challenge was to understand all arrangement of audit file documents related audit file. But we faced all these challenges with the help of our job assistance and in charges. Learning Outcomes: In this process I learned how we can check the fair market value of assets and how we found the ownership of assets. I learn how to make curries and how solve these curries by consult of accountant. I learn about that how we complete the documentations of audit file and the arrangement of audit file.
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expenses, detail of purchases, details of Sales, file the tax return on FBR Web site, Prepare the imports detail, Made the party vise detail for misalliance expenses, Made the party vise detail for entertainment expenses, Made the party vise detail for oil and lubricant expense, Made the party vise detail for Building repair expense, Made the party vise detail for Vehicle running and maintenance expense, Made the sales tax detail, Made the sales tax invoices All the activities I record weekly and now I attach here: 2.4.4.2.1 Fifth & sixth week Performance: Accomplishments: In these last two weeks I prepared the imports details of some companies in which details of bills, (electricity, PTCL, mobile phones, Sui gas) details of imports and exports, details of other expenses, details of sales, details of purchases and almost second whole week passed in making the details of Gujranwala food Industry (GFI) and sorted out the total amount paid to each party under the same head from the detail which have been made in second last week. In these two weeks also filed the tax returns for some companies whose details made in these weeks and also name available in tables of daily work and also completed the Taxation paper work for some company with the help of Senior Co worker and supervisors. Challenges: In last two weeks challenges for me are to calculation of tax and value of Goods without tax and search whit holding tax and I overcame with the help of Senior Co workers. It is a difficult for me to prepare some different reports in thus process use of formulas of Ms excel is a challenge find out amounts different type of data is a target for me. And file the tax return is difficult process to FBR site online but I done all these activities with the help of my co workers and in charges. Learning Outcomes: In last two weeks of my internship I learned how to prepare the party vise details of expenses for any company, how to make details of different bills, how to make the details of imports & exports, how to make details of sales & purchases and experienced some work place politics and learnt how to tackle them. And I leant how to file Tax return on FBR Web site and to Sorting out the data.
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As I had done six weeks work one thing that I experienced is the feelings of saying good bye to the work place, co workers and all others staff as an employ or internee.
2.4.5 Detail description of the tasks assigned to you OR Detail description of the project assigned to you to you during your internship:
I performed so many duties and responsibilities about my job in different departments that assigned me by my supervisor. Below headings details of main official duties that performed by me some extra duties that I performed in which get prints of details or photocopies of pages, deals of clients or customers etc. 2.4.5.1 Income tax & Sales tax details: In my job duration I performed official responsibilities in which main duty to making income tax and sales tax details. 2.4.5.2 Purchases and sales detail: I performed the duties to making purchases and sales detail of different companies for example details of Awami Auto and GFI etc. 2.4.5.3 Imports and Exports detail: I performed the duties to making imports and exports detail of different companies. 2.4.5.4 Assets detail: I performed the duties to making assets detail of different companies. 2.4.5.5 Audit assignment:
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I performed duties with my team to do audit of two organizations. 2.4.5.6 Tax filing: The duty is assigned to me to filing the return of tax online on FBR Web site.
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qualifications in which some social and some professional skills now explain in detail below. 2.4.6.1.1 Dealing with customers: In my internship period my supervisor guides me about customers dealings and I did a lot of customer dealing in branch head office and these customers dealings became the part of my knowledge. 2.4.6.1.2 Professionalism: In my internship period a positive change in my behavior was professionalism I get experience about professional job. Being the graduate in business this change is very important. 2.4.6.1.3 Punctuality & Regularity: In my internship period one positives change in my life is this, I done regularly and punctual my job that has been become the important part of my life. Being the graduate in business this change is very important in my job in practical life as well as student life. After completed my internship I am very punctual and regular in routine work of my life and I perform my all task and assignments on time and also mange the time for daily routine work. 2.4.6.1.4 Confidence: Before my internship in HLB I have not more confident or I lose my confident in various tasks but after completed my internship I have gain so many confidence by dealings with clients or customers. Simply I did my training that granted me the lot of confidence for my next study life and for my whole practical life. 2.4.6.1.5 Communication Skills:
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By the help of my internship as professional work it is enhance my communications skills as well as my spiking style. In the training work I always focused dealing styles and communication of the staff and my seniors. 2.4.6.1.6 Discipline: In my internship work I learned discipline of management staff and also understand the way of working in any department. 2.4.6.1.7 Team work & Co-operation: In my whole job I did work with co workers and seniors and I in all departments, in any audit we perform it with a team or in tax department performed team work in these situation I leant and understand how performed team work with co-operations. 2.4.6.1.8 Details of Different Heads of Accounts: In my job in tax department I get experience of making details of different accounts in which involve details of sales and purchases, details of imports & exports, details of expenses, details of assets, details of different bills and details of some others accounts. 2.4.6.1.9 Tax Returns: I learnt the process of filed the income tax and sales tax returns on FBR Web site. 2.4.6.1.10 Audit Process: In my internship period we perform all activities of audit procedure and I learnt the procedure of auditing of any organization. First of all check of the accounting system, standards and Evaluation of internal controls after that simple checking of vouchers and verification of all accounts and financial statements for example assets and liabilities and income & expenses etc and after these steps submission of auditor reports
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which get prints of details or photocopies of pages, deals of clients or customers etc. 2.4.6.2.1 Income tax & Sales tax details: In my job duration I performed official responsibilities in which main duty to making income tax and sales tax details. 2.4.6.2.2 Purchases and sales detail: I performed the duties to making purchases and sales detail of different companies for example details of Awami Auto and GFI etc. 2.4.6.2.3 Imports and Exports detail: I performed the duties to making imports and exports detail of different companies. 2.4.6.2.4 Assets detail: I performed the duties to making assets detail of different companies. 2.4.6.2.5 Audit assignment: I performed duties with my team to do audit of two organizations. 2.4.6.2.6 Tax filing: The duty is assigned to me to filing the return of tax online on FBR Web site.
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first step of my professional life or we can say it was a demo of the practical field and it will make me different from other fresher whom did not experience the internship. In our organization almost all department are exists related our finance field and there is lot of opportunities in this field for success in my life in future. And the internship training helped me in choosing the field of my specialization in finance. In our university I have three choices in my specialization marketing, finance or HRM but when I completed my internship job in charted accountant company I felt that finance will the best for my future. So I worked in HLB Ijaz Tabussum & co. very heartedly from which I gained experience, skills and knowledge in my field of study that will really influence in my future careers plans and the internship has disclosed all the hidden factors that will help in my future planning. By this training a positive change in my behavior, thinking, personality etc in simple this is the best experience for me.
2.4.6.4 How the internship activities that I carried out are correlated with my classroom knowledge:
After completed my internship work I think that all the activities which I performed in my job training in different departments are mostly correlated with my class room knowledge. I am getting the education of MBA and before it I completed my b.com and I red different subjects of accounts and learned different concepts of accounts orally but during my internship I was observed that about all work which I am doing related to that concepts of books. I have learned in my education duration some courses for example maintain books of accounts or accounting, income tax & sales tax, auditing and business law etc all concepts of these books I performed practically in my internship job.
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In this section I describe the organization according to your evaluation or assessment in the light of critical and SWOT analysis.
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turnover the employee from the organization due to low level of job satisfaction in their work. 3.2.3 Lack of promotion and advertisement: My personally observation the level of promotion and advertisement is very low. 3.2.4 Service charges high: I observed in the organization there are high service charges for the small quantity customers or clients that will create dissatisfaction for them. 3.2.5 Less staff members: No of staff members are low due to this reason working speed is low are a task is not completed on time. This creates burden on staff. 3.2.6 Computers problem: The computers used by staff are not updated and there quality of performance is very low. 3.2.7 Communication gap: This is also a problem in organization communication gap between CEO and employees.
3.3.1 Strength:
HLB Gujranwala branch providing good team for audit. Our branch providing good team for tax estimation. Tree of branches is spread all over the Pakistan as well as international level which assist to customers. Good reputation with among customers and has goodwill in market. HLB Gujranwala branch has well structured departments. The services provided by our organization are very convenience for the customers. Providing best cooperation to their customers or clients which provide them high level of satisfaction.
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Our branch provides internet facility to clients to do return file of sales or income tax. HLB Gujranwala branch has large business and industrialists as client or customers; they regularly doing worked by our organization. It is located in the commercial and advanced area of city where approach of peoples is easy.
3.3.2 Weakness:
The environment of the firm is not comfortable to work and is very strict. Less no of staff that creates burden on staff. Computer systems of the firm were very slow and not updated. There is no motivation for employees lees salary for them and the turnover of employees is high. Pakistan is a big country and there are not enough branches. It has not the high qualified staff and mostly is CA internee staff.
3.3.3 Opportunity:
HLB can open more branches in the Pakistan. This organization has opportunity to introduced training programs and by this way provide trained staff to different firms Its opportunity for organization that adopt new technologies that competitors are not use. It is a big threat for competitor if company hires most professional skilled persons. Company can target the large level of market by increasing efficiency.
3.3.4 Threats:
There are many competitors in the market for organization in related field for example Ch. CA firm, Ferguson & Co. Change in government policies or procedures are also a threat for company.
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Development in technology change in CA market is must adopt by organization is a threat. Our organization charged high fees as services that do create customers low satisfaction.
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5 References:
The following are the different references: Book Last five year annual reports from 2007 to 2011, HLB Ijaz Tabussum & Co, Gujranwala, Pamphlets of HLB Ijaz Tabussum & Co Personally Personally interview from HLB Ijaz Tabussum & Co, Notes prepared during Internship and personal experience and observation Electronic Web / Page www.google.com.Pk www.HLB.com.pk
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