Letter of transmittal

6th May, 2018.

To
Ms. Trisha Ahmed
Lecturer
Department of Accounting & Finance
School of Business & Economics (SBE)
North South University
Subject: Submission of Internship Report on ‘Banglalink Digital Communications Limited’.

Dear Ma’am,

It is a great pleasure to have the opportunity to submit my internship report on the experience
gained during my internship period in finance department at Banglalink Digital
Communications Limited. I have prepared this report in accordance with your instructions
and the guideline that have been given to me by my organization’s supervisors. I expect this
report to be informative as well as comprehensive.

Working in Banglalink Digital Communications Limited was inspiring and a great learning
experience for me. I hope this knowledge will facilitate me a lot in my future career
endeavors. I have given utmost care to be as thorough as possible for preparing this report.
With my limited knowledge, I have tried my level best to prepare the report worthwhile.

I hope you will accept my sincere effort with kind consideration. If you have any further
enquiry concerning any additional information, I would be very pleased to provide you the
required information.

Sincerely,
 Acknowledgement

The internship opportunity I had with Banglalink Digital Communications Ltd. was a great

chance for learning and professional development. Therefore, I consider myself as a very

lucky individual as I was provided with an opportunity to be a part of it. I am also grateful for

having a chance to meet so many wonderful people and professionals who led me through

this internship period. Bearing in mind I am using this opportunity to express my deepest

gratitude and special thanks to my line manager MD. Tareq Ahmed and my team financial

reporting for creating an opportunity for me to complete my internship in Banglalink Digital

Communications Ltd. In spite of being extraordinarily busy with his duties, MD. Tareq

Ahmed took time out to hear, guide and keep me on the correct path and allowing me to carry

out my project at their esteemed organization.

I express my deepest thanks to my course instructor Ms. Trisha Ahmed, Lecturer of

Accounting and Finance Department, School of Business, North South University for taking

part in useful decision & giving necessary advices and guidance and arranged all facilities to

make life easier.

I perceive this opportunity as a big milestone in my career development. I will strive to use

these gained skills and knowledge in the best possible way, and I will continue to work on its

improvement, in order to attain desired career objectives.

Sincerely,
 Executive Summary

This is the internship report based on the three-month long internship program that I had

successfully completed in Banglalink Digital Communications Ltd. under MD. Tareq

Ahmed, Senior Executive of Financial Reporting team, Banglalink, as a requirement of my

BBA program on School of Business Studies, North South University. Every hour spent in

the office gave me some amount of experience. These are all useful for my career.

This report is divided into two phase. In the first phase that is main body of the report I tried

to come up with the brief description of the departments of Banglalink Digital

Communications Ltd., Overview of the Organization, Department and the People,

Assignment and Contribution, Lessons Learned, Interaction with Supervisors and Coworkers,

Difficulties Encountered, Differences between Expectations and Experience, how this

Internship Influenced Career Plans and What would do differently if had to redo Internship.

Basically I have tried to explain my personal experience in Banglalink in this part.

In my second phase of the report I have attached ten weeks of the journal where I have put

my experiences, works that have been completed and observation of the internship in

Banglalink Digital Communications Ltd.

Before drawing any conclusion based on this report it may be noted that the report has been

prepared in a very short time and there is lack in data. But still this report may be useful for

designing any further study to evaluate the overall environment & internship facilities

provided by Banglalink Digital Communications Ltd.

TABLE OF CONTENT

Serial Topic Page

1 Overview of The Organization 1-2

 Mission, Vision, Values & Slogan 2-4
 Organogram of management team of 4-5
Banglalink
 Products & Services offerings 5-8

2 Department and People 8-10

3 Assignments and Contribution 10-11
4 Lessons Learned 11-13
5 Interaction with Supervisor and 13-14
Coworkers
6 Challenges Faced In Workplace 14-15
7 Differences between Expectations and 15-16
Experience
8 How this internship influenced career 16
plans
9 What Would I Do Differently If I Had to 16-17
Redo Internship
10 Conclusion 17
11 Appendix 18-27
 Overview of The Organization

Banglalink Digital Communications Ltd is a leading brand in Bangladesh. The company

started its operation in Bangladesh in 2005, and since then it has been successfully doing

business. It has a great impact in the market from the beginning. From the starting of

Banglalink, it has always tried to make telecommunication affordable for mass population.

Banglalink digital communications Ltd is completely owned by Telecom Ventures Ltd,

which is 100% owned subsidiary of Global Telecom Holding. 51.9% of the shares belong to

Veon of global telecom shares. Apart from being in Bangladesh the company operates in

various countries with different names such as Russia, Italy, Algeria, Pakistan, Uzbekistan,

Kazakhstan, Ukraine, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. Veon operates in

various names such as Banglalink, Beeline, Wind, Jazz and Djezzy brands. Banglalink now is

having employees over 1,100 people. Also apart from their permanent employees’ Banglalink

hire a lot of 3rd parties’ employees in a contractual manner.

Banglalink came up with innovative and low cost product & service offerings and the sales

increased like wildfire and it became the fastest growing mobile operator of the country with

a growth rate of 257%. This milestone was achieved with innovative and attractive products

and services targeting the different market segments; aggressive improvement of network

quality and dedicated customer care and effective communication that emotionally connected

customers with Banglalink. The customer base is growing exponentially every day and in

March, 2014 the company has reported the current customer base is more than 29 million.

Although Banglalink has experienced stable growth in the revenue every year, the average

revenue per user (ARPU) has seen a declining trend. In the year 2009, the ARPU was $2.5

and the declined ARPU in the year 2010 & 2011 was $2.3 & $1.9 respectively. This is
happening because of the high rivalry among the operators and also because of low switching

cost. This must be alarming for Banglalink as while the customer base is increasing

significantly, the ARPU is declining; which implies the existing customers are switching to

other operators and to stop this Banglalink needs to focus more on retaining existing

customer more than creating new customers.

Mission, Vision, Values & Slogan:

Mission:

 Segmented approach in terms of products and services.

 Delivering superior benefits in every phase of customer experience (before, during

and after sales)

 Creating optimum shareholder value.

Vision:

 To be a pioneer by working at the frontier to unlock new opportunities for customers

as they navigate the digital world.

Values:

Customer Obsessed:

 They have a passion for their customers, customers are at the heart of everything they

do.

 They have a passion for their customers, customers are at the heart of everything they

do.

 They keep an eye on their competitors but it’s the customers who are always front of

mind.
  They are driven by their customer insight - all their digital innovations are borne out

of customers’ needs.

 They never stop. They are always moving, looking for the next disruptive digital

ideas.

 They are adventurous and excited about trying new things.

 They are quick to bring new digital products and services to market, always driven by

a clear customer need.

 They don’t follow the status quo; they are passionate about creating their own path.

 They have an ownership mentality, demonstrating passion and taking responsibility of

the business as if it their own.

 They are agile and dynamic. They like to push boundaries and explore what’s

possible.

 They are not held back by a fear of failure and are always looking to develop new

things.

 They take smart risks, but only when it’s in their customer’s best interests.

 They lead by example - They do what they say they are going to do.

Entrepreneurial

 They bring people together by their passion for customers.

 They work with each other and they respect the time of others.

 They don’t look to blame, they look for solutions to problems and they take

ownership.

 They partner with others in order to achieve more.

 When doing things together, they do them smarter and faster.

 They are a team

Collaborative

 They are open, honest and demonstrate integrity and respect in all their dealings –

both internally and externally.

 They are trustworthy; they keep their promises and admit their mistakes.

 They are focused on upholding the highest level of ethics at all times.

 They set clear expectations and communicate feedback in transparent and respectful

way.

Slogan:

“Start Something New” is their new slogan which inspires to always think something

out of the box.

Organogram of Management Team of Banglalink

Shareholders

Board of Directors

Erik Aas Chief Executive Officer

Chief Financial Officer Chief Technical Officer

(CFO),

Chief Human Resources

Chief legal Officer &
& Administration Officer
Company Secretary,
etc.

Chief Marketing Officer Chief Corporate &

Regulatory affairs
 Chief Procurement
Officer

Banglalink maintains organizational hierarchy like other multinational companies. After

having Shareholders & Board of Directors at the top Erik Aas is the Chief Executive Officer

(CEO) & Managing Director. Under his supervision there are several head of the departments

like, Anton Landma the Chief Financial Officer (CFO), Snajay Baghasia the Chief Technical

Officer (CTO), Jahrat Adib Chowdhury the Chief Legal Officer & Company Secretary,

Monzula Morshed the Chief Human Resources & Administration Officer etc.

Product & Service Offerings

Products:

Banglalink offers three fundamental bundles What's more offers them to those projects.

Client Also bundle Prepaid, Postpaid and Priyojan system. These three bundles would have

altered in light of advertise needs and Hence. The genuine item line will be truly tall. The

prepaid also postpaid one bundle need its identity or in the three projects specified

previously. The sub-product and the prisons project is a devotion system that means with

expansion the client. Banglalink's resistance Prepaid one bundle may be eight altered results

Furthermore under. Postpaid one bundle clients could delight in two sorts about items.

Furthermore, postpaid results would have recorded ahead a table below:

Product Name Features

Banglalink play 16 fnf (any operator) with best fnf rates in
the market.
 One special fnf @ 4.17 paisa/10 sec.
 Sms to fnf and special fnf number:
29p/sms & mmsto all Banglalink
number.

Banglalink desh
Banglalink desh hello package
Banglalink desh ek rate
Banglalink desh 10 fnf
Banglalink inspire
 Special sms pack-100 sms @
99paisa/day
 Special data pack-5 mb @ tk. 2/day.
 Data pack gifting between members of
this package
 3 fnf to any operator.
 10 second pulse.
 Only 10paisa/ 10 second to banglalink
fnf number
 Lowest 10 paisa/10 second call rate to
other operators.
 1 special fnf at only 4.17 paisa/10
second.
 10 sec pulse.
 Simple tariff plan.
 flat rate to all operator
 10 sec pulse
 10 fnf to any operator
 1 special fnf at lowest 4.5 paisa/10
second
 Lowest 9 paisa/10 second in banglalink
fnf and 10 paisa/ 10 second in other
operator fnf
 no security deposit is required for auto
bill pay
 Subscribers
 Every new connection comes with 300
sms/month to
 Any operator, 500 mms/month, 100
mb/month
 10 sec pulse
 Internet, amar tune subscription and
news service.
 Subscription free for the first 3 months.
  Enjoy your Banglalink inspire
connection with zero line.
 Rent (without any conditions).
 Up to 15% loyalty discount on usage.
 7 fnf numbers to any mobile operator:
60 paisa/min to
 Banglalink fnf numbers and 84
paisa/min to other operators’ fnf
numbers.
 Only 42 paisa/minute on 2
supplementary numbers.
 Only 45 paisa/minute for 24 hours
within the same professional group.
 10% bonus on incoming
Banglalink sme  Flexibility to choose from 2 packages:
Banglalink sme
 Post-paid and banglalink sme call &
control.
 1 second pulse to banglalink numbers.
Best call rates during business hours.
 Best rates in 5 fnf numbers calls from
other operators

Services:

 Vas may be a prevalent thought "around the telecom organizations and the

organizations are constantly searching for new utilization about cell telephone that

might settle on those existences about people exceptional with the goal that amidst the

operators could evaluate a great wellspring from claiming income. In the sum,

different operators Banglalink need imaginative quality included benefits which are

sorted under three measures What's more the individuals are: majority of the data

based services, excitement based services, bring administration benefits.

  Upon getting those permit Banglalink need started its 3G benefits done January, 2014

What's more presently the 3g administration is accessible to those clients of Dhaka,

Comilla, Chittagong, Barishal, Bogra, Khulna, Gazipur, Tangi, Munshiganj,

Mymensingh, Narayanganj, Rajshahi, Rangpur, Sylhet,Tangail.

 Data based vas are: Wikipedia zero, Facebook around ussd, krishi news, travel guide,

bibaholink, occupations link, Islamic service, banglalink krishibazaar, banglalink

emergency, blood bank, healthlink, banglalink jigyasha, i´info, track junction, yellow

pages, sms (text, Cites & jokes), global sms, namaz caution.

 Administrations Banglalink gives 3G & Internet, vas (value included services), global

roaming, MFS (mobile budgetary services) to its clients.

Department and People

The finance department at Banglalink is a highly energetic, proactive and quality-focused

partner standing on five pillars of integrity, ethics, mutual respect, excellence and service

orientation. It focuses highly on quality of work, efficiency, rigid control, employee

development and recognition. The same vision value is followed all over the world in

different business centers.

In Banglalink, this department is quite big as it has to deal with the whole of Banglalink from

one center. It consists of the CFO, the head of the department, the Senior Finance Director,

the Treasury Director. The department had various sections which include Accounts Payable,

Revenue Assurance, Tax, Reporting, Inventory Management, Procurement & supply chain
Cash Management, Treasury, Budgeting and Planning, Contract Management, Program

Management Office, Fixed Assets. Each of these sections has one person as a head of the unit

who reports to either the Finance Director or the Director of Treasury. The directors then

report to the CFO who the reports to the CEO. The CEO then reports to the head office in

Asia which is in charge of Banglalink or the operators in Asia. That office then sends the

final report to the head office of VION at Amsterdam.

Throughout the three months of my internship program, I have observed that the finance

department is the most important supporting function of Banglalink. All the other supporting

functions such marketing, sales or HR depend highly on the finance department for various

issues and clearances. All the departments are heavily relied on the finance team for any kind

of problems that needed to be resolved or any suggestions needed to make a better decision.

This gave me the satisfaction of working in the most valued department of a MNC-

Banglalink.

I was lucky enough that I got a chance to work with Financial Reporting team. This is the

most powerful team in the finance department. Every financial work needed to be approved

by my team before submitting it to the FC, CFO and CEO. There were only four members in

my team excluding me. My line manager was Md. Tareq Ahmed. Although it was a short

journey there but still I was so much attached with them and got the chance to have some

special learnings and experiences from them. The work environment is also very friendly.

Even as an intern I got chance to talk to the Financial Controller and CFO directly. So

employees are more involved with the organization here and participating in the

organizational development more efficiently.

 Assignments and Contribution

Being an intern in Banglalink, I had a chance to work with professionals. I was allowed to

work in a compatible environment there that helped me to gain confidence to work in any

competitive organization in future. Also, my seniors were generous and always helped me

with my assignments.

In Banglalink my biggest assignment was with the litigation cases. From the first week I was

working on different cases of Banglalink. I had to establish an excel file with all updated

status of all these 80 cases. There present statuses, bank guarantee amount, provisional

amount all were updated by me. Even I had to sit with PWC auditors with these cases and

successfully faced their inquiry.

Also, I have worked in the GL Definition file. Banglalink has a huge number of GL code to

record their transaction. But many of them are now blocked and also there were different new

GL code. As in every quarter Banglalink need to post all these GL code in the Oracle

database by maintaining a given mapping so they were facing difficulties with these

unstructured GL codes. I went to every team in the department and took the list of their

blocked GL codes. Also, I took proper definition from each team for every GL code so that

any new person working with the GL code for the first time can understand that which

transaction goes under which GL code and can give explanation for this. This was a very

lengthy work and also challenging because I had to take appointment with every team to sit

with this work. Getting time from other team members was not easy always. But I was able to

undertake this challenge and successfully completed my assignment and got approval from

our Financial Controller.

I was also assigned to prepare a presentation for our CFO. Banglalink has a proper

accounting manual to follow. But all the regulations were not being maintained by every

team. My challenge was to find out which regulations were violated by the teams. I had to

mention those and with my supervisor gave proper recommendation to overcome the

problems.

In spite of these works there were some routine work assigned to me like preparing aging

report, managing SOX Auditors for monthly and quarterly inquiry, checking of all quarterly

invoices, preparing Management Certification report, preparing Mass Addition status report

for inventory recognition process, quarterly IFRS based movement schedule preparation,

preparing month end check list for ensuring all appropriate procedure and routine activities

have been followed. It was my honor that I was assigned with different works in this short

period of time. My contribution was always appreciated by my team.

Lessons Learned

In these three months I had a lot of chance to learn different things from Banglalink. For the

first time I had an experience outside of our regular academic life. I have learned to

implement my academic knowledge here. I have learned to perform in a competitive

environment. With the practical working knowledge, I also have developed some

interpersonal skills as mentioned bellow-

Technical skill
As an intern, I was not allowed to use any internal software. But in finance department most

of the works are being done through Oracle Database and Warehouse Inventory Management

System (WIMS). Whenever I needed to do some works on these databases my team members

gave me their user id to get access in the website. Mainly I had to extract different datasets,

update them or evaluating them with manual entries. One interesting thing is that if someone

gives an entry in the Oracle database then no one can omit it ever. So whenever I used to

work on database software, I had to be very careful while putting the entries. Also, I have

learned new functions in excel. Pivot table, VLOOKUP was one of the important learning.

Analytical Skill

In my internship time I understood it very closely that analytical ability is very important in

corporate life. Here we had to take various decisions in different perspective. Every month

the financial scenario changed and also we have to give explanation to CFO regarding this

and also need to mention the future opportunities. Even we need to interact with different

vendors always about different procurement matters. But as an intern I was never in the

decision taking meetings. Although I have observed and realized that maintaining company

interest and also satisfying the vendors is very difficult.

Communication skill

I have developed my communication skill through my internship period. As I was working in

financial reporting team so I had to go and communicate with all other finance group

regarding different document and meetings. Also, managing an audit team was the best

experience during this whole period. Sitting in front of PWC Audit team and convincing

them about all their quarries was one of the best challenge here. I am very confident now, and
I have developed a strong networking capability. Also being an intern preparing a

presentation for CFO was my achievement.

Personal Development

Punctuality is a norm that I believe everyone should maintain. Our office starts from 9 a.m. I

was never late for a single day and usually reached there by 8 to 8.15 a.m. Also I was very

conscious about the deadline of my works. Always I tried to maintain my work timely and

efficiently. Even I stayed in the office till 10 p.m. two days just to complete my

responsibilities before the deadline. Banglalink also taught me to work under pressure all the

time. I used to work for the whole team. So I had to complete different assignment in the

same time. So learning multitasking and working under pressure had made me enable to face

more challenges and I believe that it will also help me to perform better in my future career.

Interaction with Supervisor and Coworkers

From the first day of my internship, I found out the environment to be very friendly. My line

manager MD. Tareq Ahmed introduced me with my other team members and Financial

Controller in the first day. Constantly he advised me, guided me to be in the right way.

Whenever I faced any problem, he used to help me with my difficulties in a friendly manner.

Also because of my assignments I got a chance to interact with almost everyone in the

department. The main thing I noticed that everyone was very helpful towards me. I never felt

neglected by anyone. Whenever I used to go to different departments for different works,

they have always helped me in a positive way even if they were busy.
Banglalink has given me some memories that I will cherish for rest of my life. I was just a

small intern but the love and affection I got from them I can never forget these memories

ever. On my last day in Banglalink, my team gave a lunch party in my honor. Not only that

also my team members and other coworkers arranged a party in the evening for me. I was

really overwhelmed by their love and affection for me.

Also, I had a wonderful time with other interns. Everyone was so supportive and helpful. We

used to have hangouts sometimes. Mainly in lunch time we all used to have a joyful time. So

concluding I would say that I was blessed that I completed my internship with these beautiful

people and had a wonderful memory for life. Even still I am in touch with them and having

their blessings for my future life.

Challenges Faced in Workplace

While writing about this portion I was really thinking about the past three months. Amusingly

I really can’t recall a lot of incidents which were very difficult for me. It’s true that while

working, there were some situations which were hard to overcome. But I would say it also

helped me to learn more and to be strong.

My main challenge was to complete my assignment on GL code definition. As I had to

prepare this report by taking information from others so I really needed to convince them a

lot to give me some time. Banglalink Finance team is actually very busy always, and it was

tough for them to spare some time for other works. I used to go to every member there and

requested for an appointment. I was really frightened that whether I would be able to finish

my assignment in due time or not. But finally it was done with the help and support of

everyone. Also, another problem was with oracle access. As an intern I was not supposed to
have any access in Oracle. But most of our workings are done on this website. So I had to

collect the password from my supervisor sometimes to complete my works.

So I really won’t say that in Banglalink I have faced very difficult time. Rather I got support

from everyone while working. Everyone was so amusing and really they make it a better

workplace. I will remember my line manager MD Tareq Ahmed always for supporting me

always and teaching me the necessary workings. My team always made me feel comfortable

and treated me as their closest one.

Differences between Expectations and Experience

I had a different idea about corporate culture when I joined Banglalink. I used to think that

corporate world would be very strict. I thought that I would be in a very unfriendly place

where no one will help me or guide me. And if I do anything wrong, my boss will shout at

me. So to be honest I was actually a bit nervous when I first joined.

However, after being in Banglalink my whole concept was changed. The place was actually

beyond my imagination. All the interns and employees were actually allowed to take break

anytime. We used to have tea or coffee anytime, chat with others, and eat wherever and

whenever possible. I have seen the employees to have friendly conversations with each other

between their works. Banglalink maintains a flat organizational culture. Employees are given

freedom to take their own decision. And because of these employees are much more involved

with the organization.

So I really had a lifetime memory to cherish with. I have learned that even in a friendly way

an organization can run in an effective way and also employees give their best output to the
organization. I will really miss this workplace and wish to work in a friendly environment

like Banglalink in future.

How this internship influenced career plans

After completing my internship now I have an idea about the corporate world now. From the

beginning of my academic life, I had a strong desire to work in the academic field. I won’t

say that now I don’t want to work in academic field but the fear I had about corporate life is

now decreased and I feel more confidence that I will do better in corporate sector now.

Telecommunication sector is now very saturated. So everyone here works in a very

competitive environment.

However, the challenges I faced while working here now I would love to give a second

thought on my career plan. Still I would want to work in academic sector but before that I

would love to work in corporate sector for some time. I would be able to have more practical

knowledge from corporate work environment and also it will help to make me more self-

sufficient. Thus, I believe I will be able to give a better output when I come to work in

academic sector.

What Would I Do Differently If I Had to Redo

Internship

Working with a multinational company is always a big achievement for everyone. I feel so

lucky that I got a chance to work in a multinational company at the beginning of my work
life. Banglalink Digital Communications Ltd was a big opportunity for me to expand my

knowledge about work life. I feel lucky that I got a chance to work here and with one of the

most important departments. As a finance major student, it was a great opportunity for me to

see my theoretical knowledge through practical experience.

If I need to redo the internship, I will really want to work with the procurement team a bit.

The reason behind this is I have seen them to work with numerous vendors always. I think

that would help me to deal with different situations in a single time. Also if I want to build

my career in telecommunication sector, it is very important to deal with the vendors in a

proper way. So as I got chance to work in the department related to my major so if I need to

redo the internship I would love to have a different experience from other departments.

Conclusion

This three-month internship program was a great learning experience for me. Now I can see

myself in a different way. I have become more responsible and the practical work

environment has taught me to deal with different situations. I have learned multitasking and

working under pressure which is essential for any career oriented person. I got the chance to

learn a lot from all professional individuals. I have started thinking in a more constructive

way now. There were some differences between theoretical knowledge and practical

experience. For the first time I implemented my theoretical knowledge into real life. It was

challenging, exciting but I can say that I have enjoyed each and every moment purely. So

lastly I would love to say that may be there were some limitations but in spite of all these the

learning I have got from my internship it will definitely help me a lot to perform in a better

manner in future.
 APPENDIX

Journal 1

11th January – 18th January

Activities Done
 Building Network with people.
 Checked all quarterly invoices.
 Cross checked and prepared updated status of the invoices.

Learning & Achievements

 This week I have learnt about the Financial Reporting Process briefly. This
department confirms completion of necessary entries regarding inter-company
transaction and balance in Oracle.
 Learned to communicate inter-company balance with respective counter parties and
confirms inter-company balances after necessary reconciliation and preserve signed
copy for future preference.
 Learned the steps of preparing invoices.
 I got to know some terms like CQV, CPV, SP, etc. and their specifications.

Observations
 While I was preparing invoice files some relevant documents were missing like
Assessment Notice, Bill of entry (in case of overseas orders) and registration form.
 There were some mistakes in P/O amount.
 The work environment is very friendly. Every help that I needed was gladly supported
by department and others.
Notable Incident
 Attended a lunch invitation from one of my colleague. It was for his birthday
celebration. The event was great and I enjoyed a lot there.

Journal 2

21st January -25th January

Activities Done

 Prepared papers like Reporting Pack, Intercompany reconciliation, GRS journals and
representation letter.

 Worked on all the litigation cases of Banglalink.

 Preparation of aging report of various accrued heads and taking justification for long
outstanding accruals from respective departments.

 Recorded GL for some inventory items.

Learning & Achievements

 Learned about the updated status of the cases.

 I got to know the provisional factors related to a case. Banglalink only keeping
provisions for those cases that show a probable state.

 Representation letter is prepared on the observation basis of the audit term and then
approved by the CFO.

Observations

 GL input is done manually. There is no supporting software to confirm the accuracy.

Because of this problem, four level reviews are done before they are submitted in the
GRS system. So the overall process is lengthy.

 As they are dealing with a good number of cases still they are not focusing properly in
this sector. They have hired six agencies to deal with these cases but internal
observation needs to be stronger.

Noticeable incident
  This week was “Banglalink Innovation week”. Banglalink introduced different
offerings like a common help desk number for all departments, auction facilities of
office laptop and computer for their employees.

Journal 3
28th January – 1st February
Activities Done

 Prepared Assessment notice.

 I had to continue my work on Litigation process as the updated case for Quarter-3 was
delivered from the agencies.
 Prepared a Mass Addition starts report which is used for inventory recognition
process.
 Started working on GL code user defined report.
 Prepared Management Certification report.

Learning & Achievements

 Learned about the fixed asset recording process. Banglalink mainly categorized their
assets into two parts after the goods are placed in inventory. It is basically
categorized in CIP and categorized assets.
 I have also learned about impaired Assets. Banglalink usually keeps provision for
their impaired asset 1 year.
 Learned to do GL Account analysis using pivot table.
 Had some basic idea about preparing Monthly Financial Report.
 While preparing Management Certification report management informs that the
statements are correct assuming Group governance model with the local one.

Observations

 While preparing Management Certification report BOD approve the appropriate

control of the process whether group manual was prepared in accordance with group
instruction or not.
 Categorizing GL is a bit difficult because the whole GL record needs to be placed into
a fixed mapping according to GRS.
  Some new FIR was filed against Banglalink.

Notable Incident

 It was a “Information Security week 2018”. The event focused mainly on data
privacy procedure.

Journal 4
4th February – 8th February

Activities Done
 Worked on GTH loan papers.
 Prepared IFRS based movement schedule for quarter four.
 Check customer related balances.
 Prepared intercompany receivable report.
 Prepared a month end check list for ensuring all appropriate procedure and routine
activities have been followed.

Learning & Achievements

 Learned about sox control process. This process is mainly followed to ensure
transparency in GL post, P/O process. My team (Financial Reporting basically works
on 10 SOX Control Process. Among them 8 are key processes and 2 are Non-Key
processes which has some dependency requirement.
 Learned the process for opening a new GL. Department leader request for the GL and
financial reporting team review the proposal. Upon their satisfaction Financial
Controller finally approves the request.
 Only Reporting team has the authority to upgrade GL code in chart of account. ERP
has some access for troubleshooting and if they do any changes immediate
notification will be sent to the financial controller.

Observations
 Opening new GL requires a lengthy process as it requires approval from the financial
controller. For this reason, sometimes transaction recording process is also delayed.
 All open P/O are downloaded from the oracle for marketing sales, IT, CCD, HR &
Admin and PM & SC based on the cutoff date of each month. So, if any department
does delay the overall impact falls upon the month end workings.
  AP (Account Payable team) Downloads all rental related prepayment and adjusts
charging respective cost centers and expense head for the respective month.

Notable Incident
 Attended a meeting with central auditors of PWC from India for the first time. I was
very excited and also successfully faced the inquiry with my team.

Journal 5
11th February – 15th February

Activities Done

 Prepared papers for supplementary information to group (quarterly). Basically,

respective departments prepare their disclosure data and submit to the financial
reporting team; keeping the respective unit head copied.
 Worked on process manual journal entry.
 Prepared document for ICX operator payment process.
 ADI report preparation.

Learning & Achievements

 In case of supplementary information all reports are collected from each team. After
that may team (Financial Reporting) checks all the closing balance of the schedule
with trial balance.
 Process manual journal entry is mainly operated by technological department. But
financial reporting team basically monitors this to ensure the accuracy.
 The payment process involves invoice information and it is updated in Oracle
database. Then in the summary page we do reconciliation with the actual report.
Accounts payable team mainly makes the payments.
 In ADI report we basically add up new assets for a month. Assets are divided into
CAPX & OPEX and then it is uploaded in the GRS system.
Observations

 Collecting disclosure reports from different teams is a bit difficult work. Also,
dependency over other teams makes the process longer.
 All journal entries are entered and posted/ approved in the ERP system by different
individuals. System generates a unique reference for each journal entry which cannot
be edited.
 Only Financial control and Treasury team has access to General Ledger. For support
purpose, IT team also has access to General Ledger but as compensating Controls are
 i) IT can create a journal entry but cannot post the same in GL ii) Same person cannot
create and post a journal entry.
 If there is any difference IT report and real amount, then it is informed to ICX
operators and adjusting is made accordingly.
Notable Incident

 Celebrated Banglalink Digital Day. It was a seminar by Google Bangladesh on digital

marketing & machine learning. Also Google gadgets were exhibited in the seminar.

Journal 6
18th February – 22 February
Activities Done
 Prepared fixed asset register.
 Prepared closing schedule.
 “Separate Acquisition” report preparation.
 Prepared slide on accounting manual for CFO.
 Learned about “Upgrades versus Capitalization” process.
Learning & Achievements
 Fixed assets register is done mainly to create reconciliation between warehouse record
and balance sheet. Basically finance team and warehouse maintain two separate
records. If any variation is found, then we tress the site id and assets are allocated in
particular site.
 Preparing closing schedule was not that much difficult. In Banglalink they maintain a
cut-off date which is 25th of every month. So while preparing the schedule I came to
know about the month closing activities of different teams.
 Learned about the rental agreement process for tower sides and mono brand purpose.
Rental agreements are often (but not always) treated as operating leases. In the
situation where VEON is a lessee in an operating lease, no asset should be capitalized.
Instead the periodic payments (lease payments) shall be recognized as operating lease
expenses in the income statement of a straight-line basis over the lease term unless
another systematic basis is more representative of the time pattern of the user's
benefit. If the periodic payment or parts of the periodic payment has been prepaid,
VEON shall recognize these prepayments in the balance sheet.
Observations
 In one of my previous journal I have mentioned that Banglalink does a lot of work
manually. So here also the fixed asset register was made by me. As per the rule I was
not allowed to keep the value of more than one asset in one row. So it was very time
consuming and took me almost 4 days to complete the task.
 I had sent a mail to admin with the list of people who will work in holidays for the
closing purpose. I was very surprised to know that even if the employees want to
 work on their holidays they have to have access from admin or else they won’t be able
to come to the office.
Notable Incident
 For the first time I gave a presentation before CFO on accounting manual. I was very
frightened but the presentation was really nice and also got compliment from the
CFO. It is really one of my best days in Banglalink and it helped me to gain a lot of
confidence.

Journal 7
25th February – 1st March

Activities Done
 Analyzed Cost Adjustment Report.
 Prepared Disposal report.
 Attend a meeting with revenue team about GL modification.
 Worked on Asset Retirement Obligation (ARO) agreement.
 Prepared inventory management report.
Learning & Achievements
 Cost adjustment report preparing was a very big challenge for me this week. Usually
whenever Banglalink bring any offshore asset then different costs are incurred like
custom duty, Bank Charge, LC Charge etc. I had to collect the P/O from treasury
team. According to this I had to identify capitalized assets and used weighted average
method for adding different charges. Then according to the asset id I had to post the
report in oracle database.
 Learned about Asset Retirement Obligation (ARO). Basically it is made when
Banglalink share site with other companies like Airtel or GP then they make a master
agreement. Banglalink needs to maintain the disposal obligations maintained there.
 The objective of the meeting with revenue team was to reduce their GL Code number.
Revenue team currently has around more than 700 GL code. This vast number of GL
code basically creates problems when we do our month end operation. We basically
use a database mapping for uploading all the GL in the database. But with is huge
number of GL it is difficult to follow the mapping accordingly.
 While preparing the disposal report I had to contact with the technological department
to get the disposal list. After that I identified the particular site of each asset. As I am
disposing it so I had to extract data from the server and then make the balance 0
which will financially impact the balance sheet.

Observations
  While I was posting the cost adjustment report I had to rearrange my whole report
according to asset id not P/O wise. The process is very time consuming and
maintaining the accuracy is also a challenge.
 Inventory management process mainly deals with uploading all warehouses product
movement information from POS system to oracle inventory module for updating all
commercial products quantity & cost and then reconciles all data with warehouse
information.

Notable Incident
 No notable incident in this week.

Journal 8
4th March – 8th March
Activities Done
 Monthly document collection for SOX audit.
 Worked on “Foreign ADI” report.
 Reviewed IFRS’16 documents.
 Prepared “Validation of Provision Balance Report”.
 Reviewed provisional methodology.
Learning & Achievements
 Foreign ADI report is mainly related to risk and reward transformation process. I had
to extract ODA report from oracle system where I got the LC copy and shipment
papers. Then I had to break down the P/O to know the items. Also, I had to find out
the risk and reward terms from the shipment agreement. Then I got to know about the
obligations related to foreign shipments. Assets are transferred into the site
maintaining the obligations and rest of the assets are sent to warehouse according to
the warehouse schedule.
 IFRS’16 document contains all lease related data like lease id, initiation date,
extension possibility, etc. Also I have come to know that at the inception of the lease
the present value of the minimum lease payments amounts to at least substantially all
of the fair value of the leased asset (a minimum threshold of 90% of fair value is
applied).
 Validation of provision balance report is prepared to see that whether we need to have
any adjustment in provisional balance. Usually it is prepared for those provisional
balances which are remaining for a very long time. So according to the ageing report I
checked the accuracy of the values.
 Provisional methodology is just a review of the provisional balance to find out the
estimations are correct or not. Mainly we need to consider additional expenses like
promotional factors or maintenance cost and then check whether we are taking
appropriate provision or not.
Observations
 When we breakdown the assets P/O wise then we record these assets as provisional
assets manually. Only after transferring the risk and reward it is uploaded in the
system.
 Validation of provisional balance and provisional methodology is overlapping. These
two works can be done in a single report which will be more efficient and the overall
situation can be seen in a single picture.
Notable Incident
 This week Banglalink Celebrated Women’s day. The arranged a session where our
honorable CEO has given a speech. Also the gave all the women’s gift hampers and
some discount cards. I really enjoyed this.

Journal 9
11th March – 15th March
Activities Done
 Prepared “Asset Disposal or Write-off Report”.
 Prepared “Physical Verification of Fixed Asset” report.
 Learned about stolen asset write-off process.
 Prepared dispatch of Intercompany debit/credit notes to the intercompany parties.
 Checked current month TB opening balance and last month closing balance after
opening the new period.

Learning & Achievements

 Banglalink gives a lot of concern while preparing the Asset disposal report. I had to
collect disposal assets record from technology team and had to take ODA (Online
Document Approval) from FC & CFO. Also I learned to extract report from the
Oracle database using asset id and then made the balance of those disposal asset 0 to
prevent any further financial impact.
 Some employees of Banglalink are from mother company VIMPLECOM. They are
known as rechargeable employees in Banglalink. So I had to prepare a debit not to
VIMPLECOM addressing all the expenses like salary, transportation, etc. of the
rechargeable employees.
 I checked current month’s opening amount from trial balance with last month’s
closing balance. The main purpose is to see whether there is any wrong entry given
for the next period or not.

Observations
  When any fixed asset gets stolen usually Banglalink make the balance 1 in their
system. They basically do this so that they can escape audit enquiry. This fact seemed
unethical to me.
 Banglalink Employees were not very much helpful to their auditors. Even I have
noticed that auditors asked for some documents for a long time and still they faced a
lot of trouble to get those papers.

Notable Incident
 As I previously mentioned that I was working on GL Code definition report, this
week it got approval from Financial Controller Sir. He was very happy with my work.
I was very excited after getting appraisal from him.

Journal 10
18th March – 22nd March
Activities Done

 Updated VAT information in Excel.

 Collected report from different teams according to closing schedule.
 Again I had to work on litigation file of Banglalink. Auditors demanded for the latest
provision amount. So I went through the cases and updated provisional amount along
with bank guarantee amount.
 Prepared and checked asset reconciliation file for the month of November.
 Checked bad debt movement file and its explanations.

Learning & Achievements

 I have learnt to prepare invoices accordingly for asset reconciliation.

 Learned to extract dashboard working report from Oracle and also report construction
for management review.
 Learned to enter data in Hyperion Financial Management (HFM) module.
 Learned to carry out common size analysis in the income statement and incorporated
analysis comments in the income statement for management review.

Observations
  Asset reconciliation process is dominated by Revenue Operation team. They validated
the report and then again cross check it with Revenue Assurance team.
 While I was checking the provisional balances I have found out that Banglalink still
has some past dues on some cases. Still they have not paid it and because of this
problem Banglalink is now having a large amount of provision.
 Finance department is already in immense pressure and preparing themselves for
yearend closing. PWC auditors will be here from the second week of December. So
everyone is busy preparing all necessary documents.

Notable Incident

 In the photography competition I previously mentioned only one employee got

selected from the finance team. Though she could not win still we all celebrated her
participation in the competition.