Internship report

on
Financial Performance Analysis of Evershine Enterprise.

Submitted To:
MOHAMMAD SHARIF HOSSAIN
Assistant Professor, Uttara University

Submitted by:
Md. Sharif
MBA For BBA, SoB, Uttara University
Major: Accounting
ID: 2223061011
Batch: 59th
Section: A

Submission Date:
 Letter of Transmittal

21 September, 2023
Mohammad Sharif Hossain
Assistant professor
School of Business, Uttara University
Dhaka 1230, Bangladesh.

Subject: Submission of Internship report.

Respected Sir,
I am pleased to submit my Internship Report on Financial performance of Evershine
Enterprise, Completed as part of my MBA program. The report provides an overview of the
organization, its business operations, and responsibilities of the department, the
accounting and financial analysis procedures followed, and the challenges faced.

Thank you for your guidance and support throughout the internship period.

Sincerely Yours,

………………….
Md. Sharif
ID#2223061011
Program: MBA for BBA
Batch-59th Major: Accounting
School of Business, Uttara University.
 Declaration

I am Md.Sharif, declare that this report on the “Financial Performance Analysis

of Evershine Enterprise” is solely prepared by me during my four months of
internship at the company. This is exclusively for academic purposes and
cannot be used for any other intention, including the benefit of the opposite
party.

………………….
Md. Sharif
ID#2223061011
Program: MBA for BBA
Batch-59th Major: Accounting
School of Business, Uttara University.
Letter of Authorization
 Acknowledgement

I would like to thank “Evershine Enterprise” for giving me the opportunity to intern with
them. I am grateful to my internship supervisor, Mohammad Sharif Hossain, for guiding and
supporting me throughout my internship. I also appreciate the Finance & Accounts
Department for their expertise and kindness.

I am thankful to my colleagues and fellow interns for making my internship experience

enjoyable and memorable.

Thank you all for making my internship at “Evershine Enterprise” a valuable and rewarding
experience.
Table of Contents
 Executive Summery

This executive summary provides an overview of a report on Evershine Enterprise. The

report highlights the importance of the industry in the overall economy of the country and
focuses on the organization, products, and Accounts and Finance process of Evershine
Enterprise.

The report covers the vision, mission, objectives, products and services, reticulation system
and the function of the department. The author also shares their internship experience and
outcomes, as well as the obstacles and challenges they faced during their time at Evershine
Enterprise. The report also includes a discussion on the ethical and unethical issues of
Evershine Enterprise, and provides recommendations to improve the growth of the
company.

Overall, the report provides valuable insights into the operations and practices of Evershine
Enterprise, and offers recommendations for future improvements.
 Chapter: 1
Introduction
Background of the Study
Financial performance analysis can identify the financial strengths and weaknesses of the
firm by properly establishing the relationship between the items of balance sheet and profit
and loss. It helps a firm to identify short term and long term growth forecasting. This
analysis can be undertaken by management of the firm or by parties outside the namely,
owner, creditors, investors. Financial statement analysis involves the re-organization of the
entire financial data contained the financial statements. It is the establishment of significant
relationships between the individual components of balance sheet and profit loss account.
This is done through the application tools of financial analysis like ratio analysis, trend
analysis, common size balance sheet and comparative balance sheet. This is used for
determining the investment value of the business, credit rating and for testing efficiency of
operation. Every company need to analyze financial statement to know the performance of
a company and company take their decision and recovery procedure if need.
This internship report is prepared as a mandatory course fulfillment of the requirement of
MBA program. It is my great pleasure to permit to complete internship report on “Financial
Performance Analysis of “Evershine Enterprise”. I am student of MBA program. I sincerely
believe that my practical knowledge and experiences gathered from this study will be very
helpful in my future life for doing any types of research work.

Objective of the Study:

Broad objective
To analyze the financial performance analysis of Evershine Enterprise.
Specific Objectives
The study includes the following specific objectives:
 To analyze the Methods of Ratio.
 To Analyze the Liquidity Ratio, Asset Management/Efficiency Ratio, Debt
Management Ratio, Profitability Ratio.
 To Analyze the Evaluation of Financial Performance of Evershine Enterprise.
Limitations of the study
The present study was not out of limitations. There are certain limitations in this report
otherwise the report including the analysis might be more accurate and beneficial. Some
constraints are appended bellow:
 Sometimes it is difficult to understand a few accounting or financial term which
could otherwise be incorporated sufficiently in preparing the report.
 Inconsistent data from various sources caused some problems make this report
 To continue this report it requires a big deal in time. As an employee I have a very
few time to prepare this report, which is not enough
 It requires lot of assistance from all level officers and staffs but as an Accessories
sector everyone is so busy in doing their respective duties.
 As an employee of this company it's difficult to maintain report after completing
daily works & don't have enough time to give the information elaborately.
 In many cases the relevant authorities are not aware about internship report & they
are unwillingness to provide data due to confidentiality.
 Website of the organization wasn't effective to gather valuable information.
 Chapter Two
Profile of the Organization
1.1 Introduction of Evershine Enterprise:

Evershine Enterprise established in 1993, Evershine Enterprise is a one-stop-solution for

Dyestuff, Chemicals and Auxiliaries aiming at supplying quality and environment friendly
dyestuff to end users as well as textile industries engaged in export to the world market. In
1995, we were entrusted with an agency agreement with Everlight Chemical industrial
Corporation of Tiawan. Everlight is one of the largest and renowned dyestuff manufacturing
companies in the world. Within very short time, this coorperation has allowed us to secure
a strong market presence amongst the Bangladesh dyeing industry. Since the start of our
journey, we have expanded our product line to provide full range textile dyestuff, chemicals
and auxiliaries to our customers. We represent a range of reputed suppliers from Taiwan,
Korea, Japan, Thailand and China. With this end in view, it was entrusted with an agency
agreement (sole agent for whole of Bangladesh) by Everlight Chemical Industrial
Corporation, Taipei, Taiwan, which is one of the largest and renowned Dyestuff
manufacturing companies in the world. Everlight brand name has been well recognized in
more than 80 countries in the world.
Since establishment, the company has been rapidly promoting its import in Bangladesh
market, which by now reached 1000 MT yearly until last year. Meantime, ECIC has
developed a wide variety of Dyestuff for world markets.

Evershine Enterprise is not only committed to supplying products of outstanding quality, it

is also committed to render technical services to users by sending Technician/Textile
Engineers from Everlight. It also arranges visits of technical persons from among the users
in Taipei annually. Everlight also assures that all of their Dyestuffs are non-hazardous and
free from banned substances by providing certificates as needed.

Evershine Enterprise is also one of the distributors of Clariant (Bangladesh) Ltd., which has
reputed world brand of Textile Dyestuff and Auxiliaries. The marketing of the Clariant
products is being done through its sister company Tex-Tech Corporation. We are selling all
dyeing auxiliaries & dyestuffs of Clariant from our own stocks. We are also associated with
Samwon Industrial Co., Ltd., Korea, offering a broad range of OBA products (4BK, BYB,
ERN), helping customers to provide the best white result they need. We have a strong
marketing team comprising of young and energetic textile engineers, which is always at the
services to our clients and working very hard for market development.
We are keeping available stocks of Dyestuff and Auxiliaries for instant service/delivery to
our valued customers apart from which we also issue indents for those industries who
want to import directly in bulk quantity.
 We are pledge-bound to develop better business relationship with our existing and
prospective client’s day by day.

1.2 Key Facts about Evershine Enterprise.

Evershine Enterprise looking towards further development and expansion in order to cover
all branches of the industry, taking into consideration the availability of the raw material-
cotton, competitive labor, and low power cost. They have directed, hardworking, and
efficient workforces, supervised and directed by a well-coordinated supportive
management team. Not only Skyline ensures the top quality of the products but also they
treat safety, security, and hygiene as their priority area. They are equipped with firefighting
services and have a medical team of doctors and nurses to render services to their
employees.

Name of the Company Evershine Enterprise

Legal Form Garments

Date of Commencement 2001

Registered Office Evershine Enterprise 50,

Purana paltan lane
Ground floor , Dhaka-1000.
Bangladesh.
Web Page https://www.evershinebd.com/contact.html

Chairman Sanjay Gupta

Figure: Key Facts about Evershine Enterprise.

1.3 Production Process
Buying house is the middle man between the buyer and RMG factory. It is quite difficult to
arrange buyer for RMG factory because most of the buyer come from foreign. And RMG
factories website is not that much effective that‟s why a class of broker grow in this gap
between buyer and the manufacturer. As they always maintain correspondence with the
buyer they have better understanding of buyer‟s requirement. They act as a helping hand
for us.

1.4 Vision
To be the leading distributor of high-quality dyes and chemicals, recognized for our
unwavering commitment to customer satisfaction, industry expertise, and sustainable
business practices.

1.5 Mission
At Evershine Enterprise, our mission is to provide our clients with a comprehensive range
of premium dyes and chemicals sourced from reliable global suppliers. We aim to build
long-term partnerships with our customers, offering exceptional service, competitive
pricing, and consistent product quality. We are dedicated to staying at the forefront of
market trends, expanding our product portfolio, and driving innovation in the dyes and
chemicals industry. Moreover, we are committed to conducting our business ethically and
responsibly, promoting environmental sustainability and ensuring the well-being of our
employees and stakeholders.
1.6 Product Range:

 Reactive Dyes
 Direct Dyes
 Acid Dyes
 Leather Dyes
 Disperse Dyes
 Optical Brightening Agent
 Softener Flakes
 Auxiliaries Chemicals
 Screen Printing Chemicals
 Bio-Polishing Enzymes
 Fastness Improving Chemicals

1.7 Main Strengths:

 No compromise with quality while ensuring competitive price

 Technical support by local and foreign trained textile/chemical experts
 Newly renovated textile wet processing laboratory
 Efficient inventory management and sufficient stock of entire product range

1.8 Organizational Strategies:

 Taking the full advantages for staying near the airport and port as the business is
export oriented.
 Developing own supply units for minimizing the cost of raw materials.
 Re-emphasizing on service delivery.
 Diversification of business for having the market of other products.
 Aligning operational procedures information system towards business goal
achievement and service delivery.
1.9 Business Philosophy:

 Profit Maximization
 Cost Minimization
 Company's Wealth Maximization
 Create customer value & satisfaction

1.10 Departments of the company:

In Evershine Enterprise major departments. The name of those departments & activities are
given below.
 Marketing & Sales Department
 Procurement Department
 Human Resource & Administration Department
 Finance & Accounts Department

1.11 Marketing & Sales Department:

Marketing department is mostly responsible for increase sales and providing service.
Besides, this department introduces promotional activity, range advertisement and
achieves target sales and so on. Marketing department covered whole BD to sell company's
product as well as provide after sale service. As a result, both sales and service revenue lead
by this department.

1.12 Procurement Department:

The total process of import is executed by import management department. The process is
started form LC opening and ended by goods receiving. Furthermore, Clearing &
Forwarding (C&F) agent is also managed by this department.
According to my observation, this is the busiest department in this organization.
1.13 Human Resource & Administration Department:

The role of the Human Resource Department is to deal with management of people within
an organization
The Department is responsible for hiring members of staff and ensuring that they person to
expectation HR department is also responsible for organization of people in the whole
company and planning of future ventures that involves people in the company. The human
resources department in Evershine Enterprise id oversees employee relations, including
determining salaries and wages, hiring staff and establishing employee performance
objectives. The policies and procedures in regards to employee relations, which are
coordinated by human resources management, are consistent with the overall business
goals and objectives of the organization.
Administration Department:
The administration department of Evershine Enterprise always looks after the whole
organization. They always run the organization smooth. If any employee does any fault then
the department takes action against the employee. The company reward is given to the
employee who has done well.

1.14 Structure of the Accounting Department:

A typical accounting department has more than one employee. The functions that the
accounting department performs are large, time-consuming, and labor-intensive. There is a
need for every accounting department to have an organizational structure for increased
productivity.
Every function the accounting department performs can be handed over to certain
individuals for better performance. It is the structure of the accounting department that
determines if it can handle its primary functions efficiently. A pre-employment accounting

test is an unbiased and effective way to get insight into potential candidates' skillsets and
build an accounting department with exceptional accounting skills. Create an employee
handbook to streamline your hiring process and gauge predictive role performance; you
can also consider making pre-employment assessments a part of your custom workflows.
Investing in its structure is one of the best ways to improve your business efficiency. The
accounting department is headed by the Chief Financial Officer (CFO).
1.15 Chief Financial Officer (CFO):

The CFO is the highest hierarchy officer in any accounting department. He or she reports
directly to the Chief Executive Officer (CEO) or the business owner. Some of the roles the
CFO plays include:
 Hiring and overseeing the activities of employees in the accounting department.
 Providing financial advice for the success of the business.
 Responsible for keeping the organization in compliance with government
regulations.
 Responsible for maintaining accounting and financial activities in tune with the
company’s policies.

1.16 Financial Controller:

The financial controller works with and reports directly to the CFO. They are responsible
for managing financial accounting tasks such as preparing reports, budgets, inventory, and
so on. Also, they oversee the day-to-day accounting activities and assign tasks to other
employees in the department.
The controller is also responsible for communicating the business financials in a language
that can easily be utilized to manage the business. They provide accurate financial
reporting and analysis that helps understand the business’s financial health and
performance. Additionally, statistics such as Key Performance Indicators (KPIs),
performance reviews, and other metrics are communicated through graphs, info graphics,
and charts.
1.17 Division Managers:

In large corporations, the financial controller has three division managers reporting
directly to him or her. Some managers are responsible for specific functions.

 The accounts receivable manager is responsible for accounts receivable tasks.

 The accounts payable manager is responsible for accounts payable tasks.
 The payroll manager is responsible for payroll management tasks.
Each division manager has a team of accountants. Smaller organizations may assign these
three functions to an individual.

1.18 The Accounting Manager:

The accounting manager is responsible for maintaining and reporting financial
transactions. He or she oversees the works of other accountants in the organization.
Another crucial role accounting managers play is to provide checks and balances for the
company by detecting theft and fraud. They ensure that employees keep to accounting
principles and follow the company’s requirements.
An accounting manager is knowledgeable about accounting requirements and GAAP rules.

1.19 Staff Accountant:

Accountants that do not hold any position in the accounting department are called staff
accountants. They are responsible for day-to-day accounting activities as assigned to them
by the accounting manager and other superiors.
Some of the tasks they perform include:
 Maintaining files
 Data entry
 Processing bills and payments
 Opening mails
 Creating invoices and generating receipts
 Matching checks and invoices
 Mailing checks and invoices
 Bank reconciliations
Staff accountants hold a degree or training in accounting. Organizations should also
organize employee training and development opportunities for accounting staff.

1.20 Description of internship work in accounting department

An internship in an accounting department typically involves working alongside
experienced professionals in the field to gain practical experience and develop skills in
various accounting functions. I am working at Evershine Enterprise. as a permanent
employee bearing designation of accounts executive.
Some of my function and roll of the company finance and accounts department is given
bellow:
  I learned about how to handle Petty cash management.
 Handling sensitive or confidential information with honesty and integrity.
 To maintain Debit voucher, Credit voucher.
 To manage the day-to-day operations of the accounts department.
 To manage accounts payable (bill payments, salaries, petty cash, etc.) and receivable
through cash/cheque/voucher in a timely manner.
 Inform the dealer and customer about the company's essential notice & information
 Monitoring credit of dealers.
 Monthly close reports.
 Chines Web “OA” software work some activity
 EBS Oracle software work and others

Learning how to work as part of the Accounting team to compile and analyze data, track
information, and support the company.

1.21 Accounting Activities

As stated above, summarization of the month’s activities is done via journal entry. The
different accounting activities that give rise to journal entries are as follows:
Cash activities
Cash receipts: Cash payment is received through money receipt from different sources
 Cash sales
 Credit collection

All receipts either cash or cheque must be entered to the respective revenue centers
individually Accumulated figure is to be posted to the (G/L) accounts.
 Chapter – 3
Data Collection and Processing

Data Description

The study contains both primary and secondary data. Secondary data had been collected
from both internal and external sources.

Primary data sources: I have worked for the accounts department mostly when I was a
Job at Evershine Enterprise. While working there I have tried to collect imperative and
necessary data which I needed to accomplish this report. And
The executives and officer of Evershine Enterprise.
Secondary data sources:
 Annual report of Evershine Enterprise.
 Website of Evershine Enterprise.
 Internal report.
 Different papers/ Manuals of Evershine Enterprise.

Ways of Data Collection

I collect my data from various ways which based on internal ways. Maximum primary data I
collected from our intern training season. There Person is trained before joining internship.
Then some of data I have collect from my job place. There are many different departments.
They were very helpful for me to collect actual data and information. And some of
secondary data I collected financial data from various web links of Evershine Enterprise.

Primary source of data

 Face to face conversation: Some primary data are collected by talking interview and
by discussion with the executives and officer of Evershine Enterprise.
 Observation: Here primary data are collected through spending three month in the
Evershine Enterprise during the working hour. Here I observed the total financial
process of Evershine Enterprise.

Secondary sources of data

 By browsing annual report of Evershine Enterprise.
 By browsing Website of Evershine Enterprise.
 By browsing data collected from internal report.
 I read Different papers/ Manuals of Evershine Enterprise.
Data Processing
The bank officials of different departments of Evershine Enterprise and their general officers,
borrowers and account holders are considered as the sample unit for this report paper and after
their approval I added any data in my report. I used necessary number of table, chart to present
the report.

Recommendation

The Overall Activities of Financial performance of Evershine Enterprise shows a satisfactory

position. It is not easy to recommend some suggestion to enhance the performance level of the
organization. I have observed some shortcoming regarding operational and other aspects. On
the basis of my observation I would like to present the following recommendations:
• Though New Hope has qualified employee in Finance and Accounting department, but
the organization should recruit some new employee to run this department smoothly.
• New Hope should increase their equity capital in their capital structure, because debt
capital is already higher.
• New Hope should utilize their assets properly by investing them in more profitable
projects as there liquidity is higher than actual need.
•
• Contribution analysis for each of the product lines to optimize profit in light of demand
factors.
• Effects to bring selling prices in line with costs having regard to competition and other
market factors.
• They should minimize their financing expenses to make higher net profit.
• They should maximize the average collection period and average payable period.
• They should be careful about the market price of share, because the price of share
would decrease in future.
• Standard set-up for staff and officers to minimize administrative overhead.
• Provision for the training of officers and employees in modern management techniques.

Necessary measures to be taken for the prompt seminars, advertisement and promotional
activities by the representatives. In the face of today's global competition with open market
operation, New Hope must develop and retain the high achievers and motivated work force and
equip them with the latest skills and technologies.