SUMMER INTERNSHIP PROGRAM

Project Proposal
For Internship at

NewGlobe Education India LLP

Optimizing Fixed Assets Reporting: Preparation

and Maintenance of Fixed Assets Register

Submitted by
Ankit Kumar Yadav
PGDM 2022-24
ID No. 22A1HP042
Institute of Management Technology, Hyderabad

Under the guidance of

Faculty Guide Company Mentor

Prof. Dr. Amith Vikram Sandeep Vojjala
Faculty, Finance Finance Controller
IMT Hyderabad NewGlobe Education India LLP

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 Table of Contents
Title of the Project ................................................................................................................... 3

Introduction .............................................................................................................................. 3

About the Company ................................................................................................................ 3

Objective/ Purpose of the Project ........................................................................................... 3

Scope of the Project ................................................................................................................. 4

Methods that are going to be employed ................................................................................. 4

Limitation ................................................................................................................................. 5

Expected Conclusion................................................................................................................ 5

Timelines ................................................................................................................................... 5

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Title of the Project:

Optimizing Fixed Assets Reporting: Preparation and Maintenance of Fixed Assets Register.

Introduction:
About the Company:
NewGlobe Education is a global education service provider that has been growing rapidly since
its inception in 2007. The company began with proof-of-concept community school programs.
It has since evolved into participating in numerous national multi-partner public-private
partnerships, serving as a technical service delivery partner to scale up statewide programs and
ultimately supporting the nation's government education transformation programs.

In 2009, NewGlobe Education opened its first community school program, Bridge
International Academies, in Kenya. They operate and manage more than 4300 schools in
Kenya, Uganda, Nigeria, Liberia, and India, serving more than 1.4 million students. The
teaching model relies heavily on technology, delivering lessons via tablets and other digital
devices. The company uses a data-driven approach to monitor student progress, and teachers
receive regular training and support to ensure they deliver high-quality instruction.

NewGlobe Education's methodology involves delivering an integrated end-to-end solution to

enhance learning and transform education systems. Their approach includes a powerful
technology-enabled system, a digital learning platform, 360-degree support, adaptive
instructional content, and teacher training and coaching.

Objectives/ Purpose of The Project:

 This project aims to build a Fixed Asset Management System that will enable the
identification, classification, and tracking of fixed assets in compliance with statutory
requirements.
 The system will also develop a standardized process for adding new fixed assets, create a
system for tracking changes to fixed assets, create a reporting dashboard, and reconcile
financial fixed asset registers with the IT team's tools.

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Scope of The Work:

 To gather and analyze in the first step of the project is to review and analyze NewGlobe
Education's current fixed assets reporting processes to identify gaps and areas for
improvement.
 To prepare fixed assets register, develop an understanding of applicable accounting
standards and other statutory framework requirements to understand Fixed Asset
accounting.
 Understand the different tools NewGlobe uses to record its fixed assets for its various
entities and how to pull data from these tools for analysis.
 To gather and track the intercompany transfers of fixed assets, have to perform analytical
functions or reconciliation of data from different entities.

Methods That Are Going to Be Employed:

 Requirements Gathering and Analysis: This will involve conducting a detailed review of
NewGlobe Education's current fixed assets reporting processes to identify gaps and areas
for improvement. This will also include gathering all the necessary information from
various departments (IT and other internal Departments) to build the Fixed Asset Register.

 Fixed Asset Identification and Classification: All fixed assets will be identified,
categorized, and classified based on their type and location. Capture the unique
identification number from different sources for each fixed asset, and if it was not assigned
earlier, then we will assign the same.

 Standardized Process for Adding New Fixed Assets: A standardized process will be
developed to ensure that new fixed assets are correctly identified, categorized, and
classified. This process will also include approval procedures and documentation
requirements.

 System for Tracking Changes to Fixed Assets: A system will be developed to track changes
to fixed assets, such as asset transfers, disposals, and revaluations. This system will also
ensure that all changes are correctly documented and recorded in the Fixed Asset Register.

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 Reporting Dashboard: A reporting dashboard will be developed to provide real-time data
on fixed asset status. This dashboard will include information such as asset depreciation,
asset location, asset transfers, and asset disposals.

 Reconciliation of Financial Fixed Asset Registers: The financial fixed asset register will be
reconciled with the IT team's tools to identify and resolve discrepancies.

Limitation:

 Limited access to information: Some information required for the project may not be
readily available or difficult to obtain, which makes the process time-consuming and may
impact the accuracy and completeness of the Fixed Asset Register.
 The complexity of data: With NewGlobe Education's diverse operations across different
geographies, some data may be complex and challenging to manage, which may impact
the accuracy and reliability of the reporting.
 Intercompany Transfer of Assets: NewGlobe Education also has the intercompany
transfer of assets, which adds another layer of complexity to the fixed asset register.

Expected Conclusion:

This project aims to optimize the reporting of NewGlobe Education's fixed assets and enhance
the accuracy and reliability of its financial reporting. The project will develop a comprehensive
Fixed Asset Register, establish a standardized process for adding new assets, create a system
for tracking changes, and develop a reporting dashboard. Reconciling the financial fixed asset
registers with the IT team's tools will ensure the accurate recording of financial information.
The project will improve financial management and reporting, support decision-making, and
enable continued growth and success.

Timelines:

The project assigned (Optimizing Fixed Assets Reporting) would take 9 – 10 weeks to
complete.