SUMMER INTERNSHIP REPORT

ON

"ACCOUNTING & FINANCE AT RADIANT HONDA LIMITED"

A report submitted in partial fulfillment of the requirements for the
award of degree of MASTER OF COMMERCE

(RADIANT HONDA PVT LTD, LUCKNOW)

DURATION (From 10th October 2022 to 5th December 2022)

SUBMITTED BY:
RISHITA SINGH
ROLL NO. 2110366250011

HEERA LAL YADAV BALIKA

DEGREE COLLEGE
Associated to :- Lucknow University
Sarojini Nagar, Lucknow, Uttar Pradesh-226008
An ISO 9001 : 2015 Certified Organization

LUCKNOW UNIVERSITY, RADIANT HONDA PVT LTD , LUCKNOW

 DECLARATION

I do hereby declare that all the work presented in the summer

training report entitled "ACCOUNTING & FINANCE AT RADIANT

HONDA " is carried out and being submitted at the school of

management for the award of MASTER OF COMMERCE, is an

authentic record of RISHITA SINGH. It hasn't been submitted at any

other place for any other academic purpose.

RISHITA SINGH
ROLL NO. 2110366250011
SEMESTER 3rd
 PREFACE

As a part of the Bachelor of commerce curriculum and in order to

gain practical knowledge in the field of finance, we are required to
make a report on "RECRUITMENT AND SELECTION PROCESS
CONDUCTED BY HONDA CARS* the basic objective behind doing
this project report is to get knowledge of different tools of
marketing In this project I have included various concepts, effects
and implications regarding distribution management and surveying.
Doing this project report helped me to enhance my knowledge
regarding the work into the attitude of surveying I undergo many
experiences related with my topic concepts. Through this project I
came to know about importance of team work and role of devotion
towards the work.
 ACKNOWLEDGEMENT

I feel deeply indebted towards Branch Manager; RADIANT

HONDA PVT.Ltd who has guided me in this project. It would
have not have been possible to make such an extensive.
report without the help. guidance and input from them.
I would firstly like to express my gratitude toward faculty
Guide for having shown much of Flexibility and guiding in
such a way that I really learning the subject all the time. He
helped me in deciding the project topic. He showed a lot of
openness in his approach and I would like to thank him for
his support in a way that has lead to proper
& effective learning
Last but not least I am great full to all iny family members &
my friends for being my side always. Without their help and
motivation it wouldn't have been possible to
complete my project.

RISHITA SINGH
ROLL NO. 2110366250011
SEMESTER 3rd
 TABLE OF CONTENT

Sl. No. Contents Page No.

Cover Page

Internship Offer Letter

Certificate of Internship

Declaration

Acknowledgment

Table of Content

1. About internship Organization 1

2. About Work Profile 24

3. Work Experience 69

4. Key learnings 71

5. Challenges faced during internship

6. Conclusion

7. Future Scope
HISTORY

OF

HONDA
 COMPANY PROFILE

Honda Motor Company Ltd.

Honda has been the world's largest motorcycle manufacturer since 1959 as well as the world's
largest manufacturer of internal combustion engines measured by volume, producing more than
14 million internal combustion engines each year. Honda surpassed Nissan in 2001 to become the
second-largest Japanese automobile manufacturer As of August 2008, Honda surpassedChrysler
as the fourth largest automobile manufacturer in the United States Honda is the sixth largest
automobile manufacturer in the world.

Honda was the first Japanese automobile manufacturer to release a dedicated luxury brand,
Acura, in 1986. Aside from their core automobile and motorcycle businesses, Honda also
manufactures garden equipment, marine engines, personal watercraft and power generators,
amongst others. Since 1986, Honda has been involved with artificial intelligence/robotics
research and released their ASIMO robot in 2000. They have also ventured into Aero space with
the establishment of GE Honda Aero Engines in 2004 and the Honda HA-420HondaJet, scheduled
to be released in 2011. Honda spends about 5% of its revenues into R&D.
 HISTORY OF HONDA
The history of the Honda Motor Company began with the vision of one man Soichiro
Honda. His dream was personal mobility for everyone. Soichiro Honda founded the Honda
Motor Company in 1948. In the same year, he designed and engineered the first product of this
company - a 50 cc motorized bike on a bicycle frame - in his small shed at Hamamatsu. Today,
Honda is a global company with a global viewpoint that is reflected in a solid commitment to
local markets and economies. Honda Siel Power Products was incorporated in Sep. '85 as a joint
venture, earlier it is called Shriram Honda Power, was promoted by Honda Motor Co, Japan, and
Shriram Industrial Enterprises. Honda Motor, Japan, holds a 66.67% stake in the company. In
1998-99, it changed its name to Honda Siel Power Products. Its works is situated in
Rudrapur (Uttaranchal), Pondicherry and at Greater Noida. The company manufactures and
markets portable generating (PG) sets (inst. cap.: 1,75,000 pa), general purpose engines and wat
er pumps at its plant in the Udham Singh Nagar district of Uttar Pradesh. It also has set up a pla
nt at Pondicherry, commercial production at which commenced in Sep.'95. In 1991-92, the
company took up a major in digenisation programme to set up in-house machining facilities for
crankshafts rot or shafts. In Jul.'93, it received the ISO 9001 certification from RWTUV ,
Germany, for quality assurance systems in the design, manufacture, installation and after-sales
service of its products. It achieved the Export House status in Sep.'94. The company sells its
products to customers and institutions through regional offices and dealers.
At present, it exports to over 25 countries in Africa, Europe, South America and Asia. In
June,2000, the company commenced the in-house manufacture of flywheel required for Gensets,
GP Engines and water pumping sets. The Company has set up a Pressure Die-Casting plant in
Greater Noida, U.P, at a capital outlay of 7.80 crores. The Commercial production commenced in
December 2000. The Company has drawn plans to take up ERP (IT Project) for all its functions
across the company in a phased manner. Honda Siel Power, manufacturer of Portable
Generators, Water Pumping Sets and General Purpose Engines recorded 15% growth in net
sales to Rs. 114.49 crore for the quarter ended September 2011, driven by the 27% growth in
domestic business (87% of total sales)to Rs. 99.41 crore. However, Revenues from the Export
business fell by 29% to Rs. 15.13crore.
 At operating level, margins fell by 80 basis points to 9.5% on the back of higher other
expenses which has dwindled the growth in operating profit to 6% to Rs. 10.92 crore. Further, the
decline in other income coupled with the higher depreciation there was 4% fall in PBT before EO
to Rs. 10.01 crore. However, Rs. 20.49 crore EO gain resulted from the disposal of the Rudrapur
factory coupled with the fall in effective tax rate during the quarter bolstered the growth in
bottom-line to 228% to Rs. 23.19 crore. Honda Siel Power Products has announced that Takashi
Nagai and Masato Saito has ceased to be directors of the company. The company has appointed
H Kanayama as director of the company. Further, Vinay Mittal has been appointed as vice-
president & whole time director of the company.

Sales and Distribution Network

Honda Siel Cars India has a strong sales and distribution network spread across the
country.The network includes 51 Honda Exclusive Authorized Dealerships in 21 cities. All
HSCIdealerships are based on the "3S Facility" (Sales, Service, Spares) format, offering
completerange of services to its customers. The company istargeting 100 dealer outlets across
India by 2012, as per their expansion strategy which is based on the

Formula

'1 dealer per 1000 Units’

Honda's vision and role

Fulfilling the global needs of personal mobility in the new automotive society – go hand in
hand with the corporate philosophy: maintaining a global viewpoint, they are dedicated to
supplying products of the highest efficiency and quality at a reasonable price for worldwide
customer satisfaction. In India, it is through HSCI that customers can enjoy the benefits ofHonda's
expertise. Soichiro's vision was international in character. His desire was to lead the world in
technology, and make a significant contribution to the creation of a better society. As a result, most
of the products that Honda developed started out by making a difference. However, the most
enduring challenge has been to satisfy the ever-changing needs of their customers

This is the essential spirit of Honda.The Company's vision is "To be a Company that the
Society would want to Exist". It strongly believes in Co-existence and Co-evolution, wherever it
operates.
Company Principle (Mission Statement)

Maintaining a global view point, we are dedicated to supplying products of the highest
quality, yet at a reasonable price for worldwide customer satisfaction.

Fundamental Beliefs

Respect for the Individual

Initiative

Initiative means not to be bound by preconceived ideas, but to think creatively and acton
your own initiative and judgment, while understanding that you must take responsibility for the
results of those actions.

Equality
Equality means to recognize and respect individual differences in one another
andtreateach other fairly. Our company is committed to this principle and to creating equal
opportunities for each individual. An individual’s race, gender, age, religion, national origin,
educational background, social or economic status has no bearing on the individual’s
opportunities.

Trust

The relationship among associates at Honda should be based on mutual trust. Trust is
created by recognizing each other as individuals, helping out where others are deficient, accepting
help where we are deficient, sharing our knowledge, and making a sincere effort to fulfill our
responsibilities.
 The Three Joys

The Joy of Buying

The joy of buying is achieved through providing products and services that exceed
theneeds and expectations of each customer.

The Joy of Selling

The joy of selling occurs when those who are engaged in selling and servicing Honda
products develop relationships with a customer based on mutual trust. Through thisrelat ionship,
Honda associates, dealers and distributors experience pride and joy insatisfying the customer and
in representing Honda to the customer.

The Joy of Creating

The joy of creating occurs when Honda associates and suppliers involved in the
design,development, engineering and manufacturing of Honda products recognize a sense
of joy in our customers and dealers. The joy of creating occurs when quality productsexceed
expectations and we experience pride in a job well done.

Racing

Honda has always played an important role in motor sports, believing it to be the
springboardfor technological advancement. Honda has made its mark in the 500cc class
MotorcycleRacing World Championship and more.

Technology
Our fundamental design philosophy seeks to maximize space and comfort for people,
whileminimizing the space required for mechanical components. With this aim in mind,
Honda'sR&D activities include product-specific development and research.
Safety

At Honda, we use a three-prong approach, based on preventing accidents, minimizing

injuryin the unlikely event of an accident and our Driving Safety Promotion operations.
Honda'ssafety philosophy emphasizes the development of appropriate technologies for its
products,so as to ultimately achieve maximum riding comfort for its customers. Honda was the
firstmanufacturer in Japan and India to develop and apply the anti-lock brake system for the
twowheelers.

Environment
Honda is unrivalled in making a conscious effort to lower the emissions of every oneof its
vehicles, 2 and 4-wheelers. It is actively pursuing the development of a 4-stroke enginein all 2-
wheelers from 2009.

Honda and Honda Activa:

The Honda Activa has set a new standard for new era of scooters in India. It has been
developed exclusively for the Indian market after closely examining the changing lifestyles, wants
and needs of the consumers.

The Honda Activa has been designed to cater people who believe:

 The conventional Indian scooter is too big and difficult to handle

 The scooterette is too small and similar to mopeds

The Honda Activa is equipped with a number of new functions and mechanisms, introduced
for the first time in India. It is designed to offer greater functionality, performance, economy,
and ease of handling and maintenance to a wide cross-section of the Indian society.As responsible
members of society and industry, we Honda Motorcycle and Scooters India Pvt. Ltd. (HMSI),
Manesar manufacturer of two wheelers, recognize that well being of humans and conservation of
earth's environment is important. By adopting environmental management system, HMSI is
moving towards realization of Honda's green factory concept. We shall
endeavor to continually monitor, improve and conserve the environment in which we operate.
HMSI is committed to achieve, environmental excellence in all its industrial activities, in the
following ways:

 Conserving environment through preventing pollution at its source of generation and

strengthening our existing pollution control system.
 Promoting conservation of resources such as energy, water, oil and grease and other raw
materials, by reusing, recycling and minimizing the waste generation.
 Complying with all applicable legal/regulatory requirements and strive to go beyond
wherever possible.
 Regular monitoring and reviewing of environmental objectives and targets.
 Increasing environment awareness and competence amongst our employees and
encourage vendors & dealers to adopt EMS
HMSI will establish its environmental management system following PDCA cycle
and continuously work to make it more effective. The policy will be well disseminated to
our employees as well as to public at large.
 Motorcycles
Honda is the largest motorcycle manufacturer in Japan and has been since it started
production in 1955 At its peak in 1982, Honda manufactured almost 3 million motorcycles
annually. By 2006 this figure had reduced to around 550,000 but was still higher than its three
domestic competitors

During the 1960s, when it was a small manufacturer, Honda broke out of the Japanese
motorcycle market and began exporting to the U.S. Taking Honda’s story as an archetype of the
smaller manufacturer entering a new market already occupied by highly dominant competitors,
the story of their market entry, and their subsequent huge success in the U.S. and around the
world, has been the subject of some academic controversy. Competing explanations have been
advanced to explain Honda’s strategy and the reasons for their success.

The first of these explanations was put forward when, in 1975, Boston Consulting Group
(BCG) was commissioned by the UK government to write a report explaining why and how the
British motorcycle industry had been out-competed by its Japanese competitors. The report
concluded that the Japanese firms, including Honda, had sought a very high scale of production
(they had made a large number of motorbikes) in order to benefit from economies of scale and
learning curve effects. It blamed the decline of the British motorcycle industry on the failure of
British managers to invest enough in their businesses to profit from economies of scale and scope.

The second explanation was offered in 1984 by Richard Pascale, who had interviewed
the Honda executives responsible for the firm’s entry into the U.S. market. As opposed to the
tightly focused strategy of low cost and high scale that BCG accredited to Honda, Pascale found
that their entry into the U.S. market was a story of “miscalculation, serendipity, and organizational
learning” – in other words, Hondas success was due to the adaptability and hard work of its staff,
rather than any long term strategy. For example, Honda s initial plan on entering the U.S. was to
compete in large motorcycles, around 300 cc. It was only when the team found that the scooters
they were using to get themselves around their U.S. base of San Francisco attracted positive
interest from consumers that they came up with the idea of selling the Super cub.
Racing
Honda has always played an important role in motor sports, believing it to be the
springboard for technological advancement.

It has also been an aggressive force in the endurance, motocross and trial races held around the
world. We, at Honda, are not allowing this momentum to let up, as we pursue even greater
achievements.

Honda has always loved racing, ever since Sochiro Honda took his company into motorcycle
competition, sometime in the 1950s. Hondas engineers have tested themselves on the
international stage, proving their technology to be the best in the world. These technologies are
tested in the extreme conditions of motorcycle racing, to adapt them for use in vehicles that ply
on roads today.

In the past, Honda has powered some of the all time great racers, including Redman, Hail wood,
Spencer, Gardner, Capirossi and Doohan, to 39 riders titles. Even today, some of the greatest
motorcycle racers, like Alex Baros, Max Biaggi, Nicky Hayden ride on Honda bikes, at the races.

Honda enters the Isle of Man TT Races in 1959 Honda is an active participant in many off-road
races Michael Doohan riding Repsol Honda's NSR 500.

Technologies like these are not just for the race tracks, but are also incorporated in our everyday
vehicles. They are first tested, refined and proven under the trying conditions in the races, and
then finally adapted in the vehicles, so that two wheelers like Activa and Dio can utilise and benefit
from such technologies.
 ABOUT

INTERNSHIP

ORGANISATION
 INTERNSHIP ORGANISATION

HISTORY :

Radiant Honda motors Authorised dealer of Honda Company in Lucknow. Operation in

2010. which is now popularly known as Radiant Honda pvt ltd.

The main owner of Radiant Honda is Mr.Sumit Rastogi. And the manager is Mr. Sarvjeet Singh

From Monthly Sale of 160 Two wheelers initially it has reached a monthly sales volume 200nos.

(3000 per annum). This spectacular growth is mainly due to aggressive, clear headed

management and with sheer hard work of every staff member and above all out standing

customer support.

Radiant Honda captured 25% of Lucknow two wheelers market successfully standing with the

challenges from competition. As of now Radiant Honda. has a work force of 100 members, with

an annual turnover of Rs. 18 crores. They have also opened a separate service station for better

customer care.
 MAIN BRANCH
ALAMBAGH
(Radiant Honda)

SUB BRANCH

 J.S HONDA
 SUNIL HONDA
 TELIBAGH RADIANT HONDA
 RAJAJIPURAM RADIANT HONDA
PROMOTIONAL ACTIVITIES OF RADIANT H0NDA

The promotional activities adopted by Radiant Honda motors are:

1. Test Rides
2. Exchange Melas
3. Mileage Contest
4. Loan Melas
5. Harding & Wall Paintings
6. Sponsoring youth Events.
7. Financing in the spot
8. Distributing pamphlets
9. Advertising in news paper

SERVICE DEPARTMENT

Head : Mukund Singh

1.. 6 Free Services and nine Paid Services for active aviator dio shine cbr250etc.

2. 6 Free Services and 14 Paid Services for 125CC and 150CC Vehicles.

3. Extended warranty also giving to all models. except twister

4. Free Checkup Camp. For every.sunday

5. Engine over hauling for all Post Warranty Vehicle.

6. We are giving warranty for fuel adultration for single time.

7. Total Workers are 42 members.

8 After Free Services 200 rupees Charged.

 WORKING TIME

10 AM TO 09 P.M

PRODUCTS AVAILABLE IN Radiant Honda pvt ltd.

S.No. Scooter Motor Cycle Mopeds 3 wheelers.

1 Dio nil

2 Activa

3 Aviator

4 Shine

5 Unicorn

6 Stunner

7 Dazzler

8 Twister

9 CBR 250
Spare Parts

Spare Parts Incharge – Mukund Singh

Input : Every Month Purchase of of Spare Parts Company of Honda Motor (Delhi)

Out put: Sols of Spare parts – work shop of Honda Show Room out side Mechanics and

Customers . Total Spare Parts above 11,000 Parts.

Finance Level

1. The RADIANT HONDA Provides sum finance facility to the customers. The
finance facility Banks are
a. HDFC
b. IDFC
c. Sriram Finance
d. Axis Bank
e. ICICI
The finance lever provides interest rate Rs. 1 per 100. The customer paid minimum 30% of the
Vehicle Amount. The finance facility taken by the above 6000 people of them.
ABOUT
WORK
PROFILE
 MEANING OF ACOUNTANT
An accountant is a person who records business transactions on behalf of an organization, reports
on company performance to management, and issues financial statements. Here are several
examples of the types of transactions in which an accountant may become involved:

 Issuing an invoice to a customer, which involves recording a sale and account receivable.
 Receiving an invoice from a supplier, which involves recording an expense or asset and an
account payable.
 Issuing a salary or wage payment to an employee, which involves recording an expense and the
outflow of cash.
 Reconciling a bank statement, which likely produces adjustments to the cash account.

In addition to transaction recordation, an accountant produces a number of reports. The key types
are as follows:

 Financial statements are issued to the owners and/or operators of a business, as well as to lenders
and other creditors. The financial statements include the income statement, balance sheet, and
statement of cash flows.

 Management reports are issued to the management team. The reports are highly customized to
the needs of each entity, and may cover such topics as the sales of certain product lines,
investigations of cost variances, sales returns, and an analysis of overtime incurred.

 Tax reports are issued to several government entities. The reports provide detail regarding the
amounts paid for income taxes, property taxes, sales taxes, use taxes, and so forth.
 DEFINITION
An accountant is a person who works in the accounting field and conducts tasks including
account analysis, audits, and financial statement analysis.

ROLE OF ACCOUNTANT IN ORGANISATION

 Role of an accountant is doing functions related to the collection, accuracy, recording, analysis,
and presentation of a business, company or organization’s financial operations. He also holds a
number of administrative functions in the company. Statutory auditing, internal audit, taxation
are some of the roles of accountant.

 Accounting is both a science as well as an art. A person performing functions like recording,
classifying and summarizing data to generate useful information like profit and loss for the period
of an organization is known as an accountant.

 Knowledge, skills, and experience of accountant play an important role in the growth of an
organization. Role of Accountant is very important in every organization. Some of the major areas
where the role of an accountant is important are as below:

 There are many functions which an accountant performs. Some of them are:
1. Maintenance of books of accounts

Role of Accountant is very crucial in maintaining systematic records of financial

transactions in order to calculate the net profit or loss for an accounting period and the
financial position of an entity as on a particular date.

Maintaining proper books of accounts in the manner required by law and accounting
policies followed by the entity is important for the entity. The books of accounts of the entity also
support the future planning of business operations.

2. Statutory Audit
Usually, a Chartered Accountant audits the books of the entities like Limited companies,
firms etc. according to the law. He ensures that the entities prepare the financial statements in
accordance with generally accepted accounting principles, standards, and legal considerations. He
also ensures that the financial statements show a true and fair view of the financial position of
an entity.

3. Internal Audit
Accountants, internal staff are engaged in an internal audit by large-sized entities (like listed
companies, companies required to conduct an internal audit under any law etc.) to ensure that all
the accounting transactions related to respective accounting year are recorded, classified and
summarized in accordance with the accounting policies followed by the entity. It also enables
management to check whether all the instructions given by it is followed or not.

4. Budgeting
Budgeting refers to the planning of various business activities, transactions before their
occurrence. Accountants and management prepare various plans to balance their business
incomes and expenses.

Actual results are compared with the budgeted to find out the variation if any. Roleof
accounting is very important while preparing the budget.

5. Taxation
Another very important role of the accountant is to plan the tax liabilities of an entity. Accountants
are capable to manage the tax matters of an entity, file returns, make representations before tax
authorities, and settle the tax liabilities of an entity under various laws. Various tax planning
advice, investments etc services can be provided by accountants
6. Investigation
The accountants also carry an investigation to ascertain the financial position of some parties.
They perform this function either by themselves or by hiring external professionals.

However, external professionals are more preferable than the internal staff due to their
independence, which enhances the confidentiality of investigation report.

7. Management advisory services

Reporting internal controls to management, long-term plans, advisory regarding the business
operation of an entity are the major responsibilities of an accountant.

An accountant also provides the management consultancy services in the areas of

Management information systems, expenditure control and evaluation of appraisal techniques.

8. Other Activities
The accountant also performs activities such as acting as a liquidator, cost accountant, arbitratorfor
settlement of disputes etc. Thus, these activities make the role of accountants important
 ABOUT WORK PROFILE

The Radiant Honda Pvt. Ltd. uses Tally. ERP9 to maintain store & manage all accounting
information’s. In this part of this report I have discussed about the Tally software &
explain how Radiant Honda uses the software along the way.

Accounting Software (Tally ERP9):

Tally is one of the integrated business management software. Tally ERP 9 is user friendly
software. It is packed with all the features that required for regular business operations.
When it comes to world’s top business management software, the conversation cannot be
complete without a mention of ‘Tally ERP 9’. Trusted and used by millions of businesses in
India and across the world, the latest version of Tally ERP 9 with GST offers a remarkable
ability to attune to the needs of your business and takes the complexity out of your business
operations.
While people can have their opinions about the price of ERP 9 software, the fact remains the
same that the capabilities provided by the latest version of the ERP 9 software with GST
makes it an investment in the truest sense.
The ERP system allows businesses to seamlessly manage all operational functions, including
key aspects such as accounting, sale and purchase, manufacturing, inventory, payroll,
taxation, and MIS reporting.
Tally ERP 9 Modules:
An all-in-one ERP solution for SMEs, the Tally ERP 9 bundles a comprehensive portfolio of
modules
Here’s a quick snapshot:

 Accounts
 Taxation
 Banking
 Sales Management

 Purchase Management
 Payroll Management
 Manufacturing & Job Work
 Inventory

 Internet
 Data Exchange
 Data Security
 Miscellaneous
Core Features of Tally Software:

 Simplicity: It is easy to setup and use. It requires general knowledge of Accounts and
English to use of Tally.
 Flexible Inventory Management: The software allows integration of accounting and
inventory information. For multiple product lines, unlimited groups, categories,
batches can be defined. To monitor the inventory continuously, tally facilitates the
same by providing you with analysis report. Stock movement can be tracked and
item wise profit can be seen through tally.
 Easy to Share: No internet is needed to access accounts. Software has a build security
levels data can be remotely accessed without any worry.
 Bank Reconciliation: Bank Reconciliation is another feature of Tally. ERP9.
 Remote Access: Tally. ERP 9 provides remote access from any place and anytime.
 Technical support: Timely support provide by Tally Service Partners.
 Accounting while not Codes: Tally. ERP 9 permits accounting with the regular names
with none account codes.
 Multi-lingual capability: Tally. ERP 9 allows to user multi language such as Indian
language, Arabic, English etc.

 Scalability: Its capable to any kind of business desires and eliminates the need for
a business to alter its kind of operation, so as to adapt to the appliance.
How to use Tally Software:-
For the use of Tally, following steps must be followed:

1. Create a company
2. Enable GST features
3. Ledger creation

Below discuss the details:

1. How to create a company?

 Go to Gateway of Tally > Alt + F3 > Create Company

 Enter the basic information, i.e., name, mailing name and address of the
company, currency ,symbol etc.
 In the ‘maintain field’, select Accounts Only or Accounts with Inventory as per the
company requirements.
 In the Financial Year from, the first day of the current financial year for e.g., 1-7-
20178 will be displayed by default, which can be changed as per requirement.
 Enter the Tally Vault Password if required.
 Press Enter to accept and save.
2. Enabling GST features in Tally

1. Go to Gateway of Tally > F11: Features > F3: Statutory & Taxation
2. In the screen you will find following options:
3. Enable goods and service tax (GST): Yes, Set/alter GST Details: Yes.

 This will display another screen where you can set GST details of the company such
as the state in which company is registered, registration type, GSTIN number etc.
 Press Y or Enter to accept and save.

1. Ledger Creation

After creating a company and activating GST features, you need to create ledgers that will
enable you to pass accounting entries in Tally.

Here are the following steps:

 Go to Gateway of Tally > Accounts Info > Ledgers > Create

 Enter the Name for the ledger want to create such as purchase, sales, receive etc.
 Select the appropriate group to which such ledger belongs for example state tax
under duties and taxes group.
 Enter the other related information required and press Y or Enter to accept and save.

After having done the above 3 steps, you can start entering accounting entries in Tally. For this,
Go to Gateway of Tally >Accounting Vouchers. There are many accountings Vouchers in Tally
such as Payment, Receipt, Contra, Sales, Purchase, etc. Choose the relevant Voucher and start
passing the accounting entries.
Step: 1 (Go to Account Info)

Step: 2 (Select Group/Ledgers)

(c) Daffodil International University 10

Step: 3 Create Group/Ledger

11
 Types of Voucher

Below is the voucher, books & register of Tally software:

Receipt Voucher: To Receipt voucher records all receipt in to Bank or Cash Accounts. Such
as receipt from debtors, any income refund of loan or advance, sales of fixed assets etc.

Go to Gateway to Tally Accounting Voucher Click on F6: Receipt button

presentation the button panel to have the Receipt Voucher Creation Screen.

Figure: 1 Receipt Voucher

12
Payment Voucher:

Payment Vouchers records all the payments made through Bank & Cash. It is also used for
payment of fixed assets, purchase, loan & advance etc.

Go to Gateway to Tally Accounting Voucher Click on F5: Payment button

presentation the button panel to have the Payment Voucher Creation Screen.

Figure:2 Payment Voucher

13
Journal Voucher:

Journal voucher is for adjustment between any two ledgers.

Go to Gateway to Tally Accounting Voucher Click on F7: Journal button

presentation the button panel to have the Journal Voucher Creation Screen.

Figure:3 Journal Voucher

Sales Invoice:

Go to Gateway to Tally Accounting Voucher Click on F8: Click on V

(As Invoice) SalesInvoice Creation Screen.

Figure: 4 Sales Invoice

14
Sales Voucher:

Go to Gateway to Tally Accounting Voucher Click on F8: Click on V

(As Voucher) Sales Voucher Creation Screen.

Figure: 5 Sales Voucher

Purchase Invoice:

Go to Gateway to Tally Accounting Voucher Click on F9: Click on V

(As Invoice) Purchase Invoice Creation Screen.

Figure:6 Purchase Invoice

15
Purchase Voucher:

Go to Gateway to Tally Accounting Voucher Click on F9: Click on V

(As Voucher) Purchase Invoice Creation Screen.

Figure: 7 Purchase Voucher

Day Book: The day book list showing all transactions made in a particular day.

Go to Gateway of Tally>Display> Daybook

Figure: 8 Day Book

16
Trial Balance: Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step
towards the preparation of financial statements. It is usually prepared at the end of an accounting period to
assist in the drafting of financial statements. Asset and expense accounts on the debit side of the trial balance
& liabilities, capital and income accounts on the credit side. Debit & Credit side should be equal balance.

Go to Gateway of Tally>Display> Trial Balance

Figure: 9 Trial Balance

17
Balance Sheet: A balance sheet is a statement of the financial position of a business. which
included the assets, liabilities and owner's equity at a specific time.

Go to Gateway of Tally>Balance sheet

Figure: 10 Balance Sheets

18
Profit & Loss Account: It’s a financial statement that are showing the value of
summarizesthe revenues, costs and expenses that was incurred during a specified
period.

Go to Gateway of Tally>Profit & Loss A/C

Figure: 11Profit & Loss Account

11
SWOT Analysis

11
 1. STRENGTHS OF HONDA: Honda enterprise has a plethora of strengths to assist it
to thrive within the primary field. A Honda SWOT analysis will help to a
consciousness of those strengths. based totally on Fern fortress college’s research, a
number of these strengths are enlisted underneath:

1.1 International Attain: Honda is an international jap multinational employer.

It operates
in nearly all nations throughout the globe. So, it has an extraordinary deal of
global
footprint. This makes it greater recognizable to the general public and enables
its
exposure. So, it can enforce its international questioning with nearby
execution.
Because of this it can pursue its ubiquitous dreams and can still win the hearts
of its
clients.

1.2 Economic Position: Honda has a sturdy financial base. it’s been gaining market
slowly
however surely for approximately 75 years. It has earned public acceptance as true
as a
celebrity enterprise within the vehicle field. Its financial function has it on a pure
gain that
accelerated its market value and emblem call by leaps and limits. So, this
financially cozy
function does properly for the employer.

1.3 Large Studies and Development: Honda’s business enterprise is rather targeted
on its
research and improvement department. This is the only reason why Honda has
been on the top of the game for goodbye. In 2013, Honda invested approximately
five.7% of its
total revenue, which is about 6. eight million greenbacks, on its research and
development quarter. in addition, they take unique care to teach their workforces
regarding this area.

2. WEAKNESS OF HONDA: Weaknesses are part of the internal factors of an

employer.
These points leave the company at risk of drawbacks and as a result, the business
enterprise suffers deeply. A Honda SWOT evaluation will convey lots of those to
mild.

2.1 Financial Planning: All though Honda spends enough cash to expand its
technological
websites. it’s miles nonetheless quite at the back of in this be counted a because of
its

11
 competitors are ahead of it on this count. This puts it as quite an inconvenience as
positioned a damper on the crew’s morale.

2.2 Excessive Costs: As the Honda agency makes large investments in the research
and
development zone and the modern generation, the product pricing is going over
the roof.
So clearly, the goods are a bit on the steeply-priced aspect. Even though it is a
weak spot,
it’s miles essential. due to the fact if it attempts to lower the rate the logo equity
will even
fall. And this is something the Honda organization can invest in a nation to find
the money
for.

2.3 Hero and Honda Separation: Hero and Honda have been a hit merger of the
two
successful brands in India. but, for multiple motives, they had to separate which
left Honda in a prone position inside the Indian marketplace. It’s miles
nonetheless trying to recover from it.

3. OPPORTUNITIES OF HONDA

3.1 Improvement in US Economy: The US markets have improved over the period
and a demand for new vehicles and models has been identified. It is a great
opportunity for automobile manufacturers to fulfil the demand and create business
opportunities.

3.2 Government Regulations: Governments are working towards reducing carbon

footprints and coming with more strict regulations which will impact the automobile
industry. Honda can convert this into an opportunity to innovate and come up with
electric vehicles.

3.3 Diversification: Honda is a traditional company, it can expand its business activities
in new markets.

4. THREATS FOR HONDA: Threats are an essential part of a swot analysis. Those also are
the external elements of the organization. A Honda SWOT evaluation will factor out the
threats to this community that has been preserving its lower back.

11
4.1 Increasing Opposition: In recent times, many new organizations are mushrooming
in this new marketplace. This will increase the opposition. Many neighbour hoods,
nearby and country-wide gamers are threatening to take over Honda’s function
within the market. It has to live ever vigilant about its every move. This example
is making dents in Honda’s general sales.

4.2 Effect of Pandemic: This is the time of the pandemic. Honda is one of the main
companies inside the client goods department. Even though this pandemic hasn’t
made any large effect on the sales discern, that does not mean that the significance
of the situation is any less. This pandemic has affected the production, distribution,
and purchasing of Honda merchandise. This has fuelled fundamental changes in
Honda’s business strategies.

4.3 Government Law: The policies and rules that the government imposes may be a chief
hazard for Honda, particularly if it does not abide by its profit-primarily based schedule.
Environmental pollution is one of the many reasons the authorities are keeping a watch
on it. That is giving Honda a difficult time in its business and manufacturing.

11
 WORK
EXPERIENCE

11
 WORK EXPERIENCE
The summer training of a management student plays an important role to
develop him

into a well groomed professional. It gives theoretical concepts a practical shape in

the

field of applications.

Financial accounting is the framework that sets the rules on how financial
statements

are prepared. These guidelines dictate how a company translates its operations
into a

series of widely-accepted and standardized financial reports. Financial accounting

plays a critical part in keeping companies accountable for their performance and

transparent regarding their operations.

Reviewed and analyzed financial accounting information and presented analysis

and

commentary to key business partners.

Worked to ensure that the financial control framework was in place to ensure the

accurate reporting of financial conditions.

Collaborated with teams including Cash Operations, Treasury, and Tax.

Successfully interpreted and communicated financial information to teams across

the business.

Oversaw the month-end, quarter-end, and year-end closing of the books,

reconciliations, and journal entries.

11
 KEY
LEARNING’S

11
 KEY LEARNING’S
Financial accounting is the framework that dictates the rules, processes, and

standards for financial recordkeeping.

• Nonprofits, corporations, and small businesses use financial accountants

toprepare their books and records and generate their financial reports.

Financial reporting occurs through the use of financial statements such as the

balance sheet, income statement, statement of cash flow, and statement of

changes in shareholder equity.

• Financial accounting differs from managerial (or cost) accounting as financial

reporting is more for reporting to external parties while cost accounting is

more for strategic planning internally.

Financial accounting may be performed under the accrual method (recording

expenses for items that have not yet been paid or under the cash method

(only cash transactions are recorded).

11
CHALLENGES
FACED
DURING
INTERNSHIP

11
CHALLENGES FACED DURING INTERNSHIP

1) As proect has to be completed within a short span of time, the scarcity of time

was an important hindrance and hence much information could not be gathered,

nor evaluated.

2) Another important limitation is that analysis is very much dependent on the

company's internal bulletin.

3) Supervisor forget that you are new to the field.

4) There are competition with other interns.

5) It’s New lifestyle.

11
CONCLUSION

11
 CONCLUSION

Accounting is summarising of all transactions at one place to reflect a company's

financial position. Theory makes you knowledgeable but unless you know how to

apply this knowledge in real scenario or the true working environment you cannot

become a successful accountant.

In books, the examples of topics are set in perfect scenarios but when you work
on

them in real life, you will realize that situations you are working on are full of

imperfections and you will have to apply your mind to be successful in achieving
the

goal of the company.

Accounting plays an important role in all business operations, such as sales,

purchases, taxes, costs, and investment, in short, all operations and transactions
are

related in one way or another with accounting and is the primary basis for the
taking

of managerial and financial decisions. In this case, companies understand that

apart

from a good academic background, work experience in accounting is essential

when

choosing a candidate, especially when it is a department that will be responsible

for

11
ensuring the economic and financial resources. A candidate with accounting work

experience gives the company confidence and trust and ensures that the new

employee familiar with the functions performed, and will not be a long learning
time.

11
FUTURE
SCOPE

11
 FUTURE SCOPE

Accounting is summarising of all transactions at one place to reflect a company's

financial position. Theory makes you knowledgeable but unless you know how to

apply this knowledge in real scenario or the true working environment you cannot

become a successful accountant.

In books, the examples of topics are set in perfect scenarios but when you work
on

them in real life, you will realize that situations you are working on are full of

imperfections and you will have to apply your mind to be successful in achieving
the

goal of the company.

Accounting plays an important role in all business operations, such as sales,

purchases, taxes, costs, and investment, in short, all operations and transactions
are

related in one way or another with accounting and is the primary basis for the
taking

of managerial and financial decisions. In this case, companies understand that

apart

from a good academic background, work experience in accounting is essential

when

choosing a candidate, especially when it is a department that will be responsible

for

12
ensuring the economic and financial resources. A candidate with accounting work

experience gives the company confidence and trust and ensures that the new

employee familiar with the functions performed, and will not be a long learning
time.

12