INTERNSHIP PROGRAM:

I did my internship in Ghani Global Gases Head Office which is situated
in Lahore Modal town 10 -N 54000. The Office Building Consist of 2 High class
apartments. The area was quite good and
suitable for the working. The whole building was air conditioned also there
were no hurdles during the work of electricity or any IT Bugs because IT and
the electrical staff was there.

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The work environment was
not Stressful instead everyone works under cooperative managers.

The office Staff was
Cooperative and honest. All the personnel work like a team, supports each other
and help in all the matters. The best thing a4bout head office was that all the
staff is treated equally all managers, Executives offer prayers in one mosque
that was for everyone.

Also, company offer lunch to all its employees’ only executives but
as well as all labour staff sweepers, office boys, and driver everyone. 

 In head office following major department
operates:

ü  Marketing                                                             

ü  Finance

ü  Tax
& Audit HR/Admin                                                                  

ü  Procurement

All the departments
operate under the supervision of Board of Director who also came there on daily
basic and supervise all the operation of the company. As all the decisions of
management are taken by directors so their availability ensures the work to run
smoothly effectively & efficiently.

My internship was in the
Finance Department that manages accounting and financing needs of the
organization and the functional area of my internship was Inventory Department
sub department in Finance department.Monitor & Maintain the Purchase Record

Inventory
department was responsible to monitor the purchase cycle. Which was as follow:

 

In
this Purchase cycle first of all Material Demand Note (MDN) made by any
department who need the thing for the use than this note is  sent 
to directors for sign if it is approved then purchase Requisition then
according to PR Store check how much quantity is present and how much should
purchase after this inquiry is made and 
purchasers bring quotation by market search and then this on this
quotation chairman Mr. Masroor decide which is the best thing to  buy  
than purchase order is made  with
the  name of this company and Item
purchased then Inward gate pass is made also lab inspection to check
things  then Good receipt note (GRN) is
made by purchase department to Check mention the quantity amount of purchase
item.

When purchase department’s procedure completed then documents come
in Inventory department we check all the document to verify all the documents
are prepared properly, if documents are prepared correctly than we receive the
documents and on the basic of this documents we prepare Purchase Invoice
Voucher (PIV) both in 2 Software’s that are CSI (ERP Software) and ORACLE
(Accounting Software).

Bookkeeping of financial
Entries of Letter of Credit

Inventory department is responsible to the check letter of Credit
Cost Sheet and Bookkeeping of financial accounting entries for the letter of
credit payment. Also, to Add the imported material in the Store Stock of
company. This includes the entries of Bank Charges for LC, Custom Duty charges,
Excise Duty, Freight Expenses, Insurance Expenses Etc.

Prepare Journal Vouchers

Inventory Department makes Journal Vouchers for the payments of Freight
Expenses, Office assets service charges and all that expenses that did not fall
in any other account in the software. 

Monitor the Physical Stock
Report

Inventory Department monitors the physical Stock report of inventory
present in Stores of Ghani Gases that are Head followings

1.     
Head
Office Store

2.     
Ghani
Gases I Production Plant Store

3.     
Ghani
Gases II Production Plant Store

Material Issued report

Inventory Department checks the report of material issued by head
office, GGL I and GGL II Store and made the report of total Material issued at
the end of each month. This report clearly shows how much material used by the
company.

Prepare MDN TO PIV:

Inventory department prepares a report that is called MDN to PIV in
this report we check all the documents and each document is shown with his
cycle the item whose cycle is incomplete are separated that show all the
Pending Voucher and their status is shown on the basis of which document
Purchase Invoice is incomplete. This report is made on every month end to check
full month pending voucher and coordinates with Purchase department to resolve
the issues of the pending Voucher to complete their transactions.

Work as a Internee

This section is about the training and development being done at
Ghani Gases Ltd. This section includes the
detailed information about different tasks & activates I perfumed in
Inventory Department I have completed my training with two good 3 trainers that
was following The Senior Executive in Inventory Mr. Zaheer Ahmad also with two
account officers Mr. Usman Safdar and Hafiz Irfan. They all were very
corporative and motivating during my internship period.

My internship consists of six weeks and every week was full of
learning for me and I felt trained as the time passes. My internship six weeks
daily dairy report is following:

4.1 Week # 1

The first week of my internship report starts with the fabulous day
when I did come to inventory department and meet with the staff of inventory
department Personnel. The senior executives Mr. 
Zaheer Ahmad ask me about my educational background and check my
intellectual skills with an informal interview. Then he introduces me from
other two account officers in our department and linked me with Mr. Hafiz Irfan
to tell me about some basic information. He was very cooperated account officer
he did tell me about the Purchase Cycle on the first day and give me some
document of purchase cycle and guide me about all documents. I saw all the
documents and understand the Purchase Cycle. On the 2nd day, he did
tell me about the software’s they use for bookkeeping of financial entries
which was CSI & ORACLE. Also, he did tell me about how to take print of
documents of Purchase Invoices that prepared after the completion of Purchase
Cycle.

On 3rd day he booked some Purchase invoice in   the ERP Software and taught me about the
full procedure and I did make some notes of the procedure. On 4th day
he guided me and under his instructions I booked a Purchase invoice voucher and
take the Print of this voucher and he tell me how to arrange this documents in
office box files. Purchase invoices are made after verifying all the documents
of the Purchase Cycle that are showed in the diagram as well. 

In this Purchase cycle first of all Material Demand Note (MDN) made
by any department who need the thing for the use than this note is  sent 
to directors for sign if it is approved then purchase Requisition is
made  then according to PR, Store
department check how much quantity is present and how much should purchase
after this inquiry is made and 
purchasers bring quotation by market search and then on this quotation
chairman Mr. Masroor decide which is the best thing to  buy  
than purchase order is made  on
the  name of this company and Item
purchased then Inward gate pass is made also lab inspection to check
things  then Good receipt note (GRN) is
made by purchase department to the Check mention quantity & amount of
purchase item. When we verify all the documents are prepared properly we did
book the Purchase invoice in ERP.

This On 5th day he told me about bookkeeping of the Purchase
invoice in Oracle after printing the document that is already entertained in
the CSI software and I booked a document in the Oracle Software. And after this
according to his instructions, I arrange the document properly in the Office
Box file and put the Oracle Entertain Stamp on it.  In Oracle, the purchase invoices were booked
under the header of the payable invoice current month batch. In preparation of
oracle Entry, we credit the supplier in case of credit purchase and in case of
cash payment we did credit our purchaser who made the cash payment. against
this credit amount we did match all the goods or tools or equipment’s that we
actually purchase and after match when amount is same we did save this invoice
and put the stamp on document. When the Purchase invoice had entertained in
both software’s our seniors check this invoice and sign that document which
shows it had checked then send it in internal audit for further check.

On 6th day I perfume the full entry of the document in
both Software’s and I felt learned this process and further I got the
assistance in the whole internship for this documents entry and also, I was
involving in whole internship time in bookkeeping of purchase invoices with Mr.
hafiz Irfan till the last day that because these entries are performed on the
daily basic and these entries were learned during this first week.

4.2 Week # 2

The second week of my internship was also very good. During this
week, my Senior Executive Mr. Zaheer Ahmad trained me. In these days Letter of
credits entries was pending and there was work pressure of our account manager
so, he ask me how much I know about letter of credit procedure and told me
about brief procedure of letter of credit on 1st day of this weak
and taught me about how to  take prints  of General ledger related to letter of credit
. On 2nd day I was also involved in taking prints of letter of
credit and matching the payment of Letter of Credit’s General ledger with LC
Cost Sheet. On 3rd day he Started bookkeeping of Letter of Credit In
Oracle Software, also told me about the procedure I did write the whole
procedure and on the 4th day I booked an entry of Letter of credit
under the supervision of Mr. Zaheer Ahmad. He did appreciate me about this and
he gave me some document that he assigned me for bookkeeping On the 5th and
6th   day I remain busy in
bookkeeping of Financial Entries of the Letter of Credit. It was Really Long
Procedure consists of the all the Letter of Credit Financial Entries like
Bank Charges, Customs Duty Payments, Excise duty, Other charges, Freight
charges, Insurance Expense and Letter of Credit Documents Retirement Charges.

In the Procedure of booking Financial entries of letter of Credit In
Oracle first of all I did open the ORACLE Software, come in Payable invoices
batch and Search the Batch of LC No # E.g.(L.C # 54613/17) then enter the
entries date wise . First of all, we booked the LC item amount by mentioning
dollars exchange rate of LC. In this procedure, we did Credit the Supplier or 3rd
party with its amount and then match the Entries of debt Side expenses.
E.g.  In Insurance expense, we did match
sales tax and insurance amount one by one. 
And then my seniors check the entries and validate all by checking them
in software.

4.3 Week # 3

The 3rd week of my internship program was very beneficial
to me. During the Whole week I remained attach with Mr. Hafiz Irfan , he was
very friendly person and always try to taught me new things, On 1st day
of he did tell me about the Journal Voucher , like why we prepare this
Voucher and how to prepare this Vouchers and help me to prepare some notes on
it. On 2nd day he showed me all document of Journal Voucher and he
prepared some Voucher In CSI software. On 3rd day I did practically
prepare this Journal Voucher under his supervision & gaudiness. On 4th
day I came to know bookkeeping of the Journal vouchers in the ORACLE
Software and booked some documents. On 5th and 6th day as
well I remained busy in the entries of Journal Vouchers in CSI & ORACLE and
this practice helped me to learn this procedure properly.

Process of Preparing General Voucher & Reasons

Journal Voucher Prepares for service charges Like Freight Expense,
maintenance of Inventory like in Office Printers maintenance charges or company
Vehicles Maintenance.      

These documents entries came under the head of JVs in the payable
invoices in ORACLE & CSI. In these entries, I did debt the Freight expense
and Credit the Purchaser or Company account number from which we made the
payment.

 

4.4 Week # 4

The 4th week of my internship Program was Quite good and
beneficial to me. During this week, I did learn about the Generation of item
Codes to new Purchased items. This work was the responsibly of Mr. Usman Safdar
he prepares new codes and in this Week, he has to open some new codes so Mr.
Zaheer ask him to teach me about how to generate the Product code and what are
the categories of Product code. On 1st day he told me what are the
codes category and which code is used for which purchase. He told me about
Electrical, Chemical and Mechanical local item codes and gave me an Excel file
in which all Chemical Electrical and Mechanical items were mix and gave me an
assignment to separate these item on the basic of their codes.  On 2nd day as well I remained busy
in the activity to separate the Item according to category. On 3rd
day he gave me another file which consists of consumables, tools and raw
materials and he gave me assignment to separate the 3 types from one another,
he did guide me how I can separate them in Excel software . On 4th  day I remained busy in same task and
when I completed the assignment I came to know which items could fall in which
category he did appreciate me and correct my mistakes.  

On 5th day all the Item were separated so he started
Generating codes and tell me all the steps and I did make some notes of it. On
6th  day I did assign the
Codes to some items for the practice under the supervision of Mr. Usman Safdar.

Category

Local
Code

Import
Code

Electrical

06

09

Chemical

01, 02, 04

 

Mechanical

07

10

Consumable

05

 

Tools

08

 

Raw
Material

14

15

The
Code Category was following

 

 

 

 

 

 

The Process of generating code was tough but I did learn it. In the
Start when item come we did check the category of item then we check this item code
already either or not. If the code is not already exist in ORACLE then we check
the Last code copy in the category of this item Codes then this code is copied
in excel and then generate the next code of the copied code also mention its
description.

4.5 Week # 5

The 5th week was very incredible for me. On this week, I
did learn reconciliation of Inventory department with Mr. Usman Safdar. On 1st
day he did tell me about   why we
do reconciliation and told me about which reports are to be reconcile. He did
give me his CSI ID on which have all the excess to all the reports of Head
office and plant issuance. On 2nd day he Started reconciliation of
GGL I Store issuance report and told me about this Report and on 3rd day
I did Start the reconciliation of the Issuance Report of Store GGL II under the
supervision of MR. Usman Safdar. On the 4th day I remained Busy in
this task and he guides me about the report. On 5th day I did
involve in the reconciliation physical Stock Report with Mr. Usman Safdar. On 6th
day I also involve in Reconciliation of Physical Stock report.

The Reconciliation process of issuance   report includes the checking of items issued
under the correct head like consumables like office stationary expense should
be issued under consumables, Mess expenses should be Issued under Mess Expenses
and mechanical expenses should be booked under mess Expenses Head. we did find
the mistakes and call the store Sup­ervisor about the corrections. In the
physical Stock report recondition we check the Stock physically present in the
stores.

4.6 Week # 6

The Six week of my internship was full of practical work. During the
last week, I did learn about MDN to PIV Report. On 1st day of this
week Mr. Irfan explained me about the purpose of this report and also show me
the format of this report and Also, I booked some purchase invoices. On 2nd
day Mr. hafiz Irfan guided me and I did prepare the report. On 3rd day
I sent the pending voucher list to Purchase department by Email also send this
report to GGL I & GGL II Store. On the 4th day I booked the
remaining documents whose issues solved by the purchase department and Stores.

I did prepare MDN to PIV from the CSI Software this report’s purpose
is to check the remaining vouchers at the end of the month. The documents whose
MDN to PIV status is incomplete were separated from the list and this list is
send to the purchase department or the Stores whom to the Issue was link from
purchase cycle it could be GRN or PR or Purchase order.

 

 

 

 

 

 

 

 

 

 

 

                                    

 

For conducting SWOT analysis, its mandatory to identify External and
Internal factors which can be identified through GPEST, Porter Five Force
analyses and Porter Value Chain Analysis. SWOT Analyses bellow are based on
these internal and external forces for which proper analysis were conducted in
company’s interest.

 

 

 

 

 

 

 

 

 

Following is the
description of SWOT Analyses Ghani Gases Ltd

6.1 Strengths:

Strengths

>       Customers client and vendors are
loyal with the company.
>       Company’s operations are Riba
free.
>       Vast and easy availability
natural resources uses as a raw material.
>       Value-based leadership in the
company.
>       Strong Technical edge due to
imported machinery and economy of Scale Introduction.
>       Focus on SHEQ which is to develop
Safety, Health, Environment and Quality oriented culture.
>       Experienced team of professionals
in the management of the company.
>       High profitability and revenue.
>       Monetary assistance provided
>       Effective polices to reduce labor
cost
>       High growth rate due to
Efficiency and Effectiveness.
>       Productive and skilled workforce
>       Domestic Market   existence  

>       Existing Distribution and Sales
Networks
>       The market size is adequate.
>       The industry is more robust than
the economy in general. 
>       Quality oriented products
>       Save the marketing cost.
>       Health oriented products and
services for better environment.
>       Save the promotion cost.
>       Strong goodwill
>       Offers all benefits to employees
including Provident Fund and gratuity etc.

6.2 Weaknesses:
>       High Employee turnover due to
lack of employee’s retention
>       Dissatisfied employees with fewer
growth opportunities.
>       Taxes
>       Brand Portfolio very less
>       Poor infrastructure
>       Lack of Decision making authority
due to centralized management
>       Company is offering low salary as
compare to market practice.        
 
>       High investments in research and
development.
>       Lack of strategic relationships
with clients.
>       Dependence on Domestic market for
growth
>       Under Performance of Oil and Gas
fields means limited market share
>       Less attention to social
responsibility.
>       Load shedding high alternate
energy resource cause raise in cost of production
>       Less focus on retaining
competitive employees.

 

Weaknesses

Opportunities

6.3 Opportunities:
>       Income level is at a constant
increase
>       Continues Growth rates and
profitability  
>       Possibility of new markets  
>       New acquisitions 
>       Venture capital
>       Ability to Expand business in
global markets
>       Growing Chemical Industry.
>       New products and services are
possible.
>       The market changes fast.
>       Hire trainees to contribute in
reducing unemployment
>       Fast track development of its
current and future projects at an aggressive pace without compromising
quality and transparency
>       Accelerate Production Growth by
continuing to accelerate production growth through utilizing cutting-edge
technologies.

 

 
6.4 Threats:
>       Restricted Government regulations

>       Market’s price fluctuations
>       Increase in Labor Cost due to
inflation.
>       Increasing Rate of Interest
>       Financial Capacity lower than
competitors 
>       Increasing Costs on Imports 
>       External business risks
>       New products and technologies
change demand
>       Technological changes are
affecting the industry.
>       Exchange rate and Reserve
Depletion
>       Irrational tax policy
>       Increasing cost of power
resources.
>       Heavy import duties like Customs
duty, Excise duty
>       Political and Economic risk
>       Low barriers of market entry

 

Threats

 

Chapter # 7 CONCLUSIONS AND
RECOMMENDATION

7.1 Conclusion:

Ghani Gases Ltd. is the major player of
chemical sector in producing Medical and industrial gases. From natural air to liquid
gases entire manufacturing process is the result of company’s sequential
production planning and sustainable business policies. Company aim to provide
quality products to its customers. It’s the efforts of directors that the
company is now ISO 4001 :2004 certified.

Ghani gases has strong technical edge due
to imported machinery.Due to the Growing Chemical Industry and medical gases
demand new products  and services are
possible.

Company is offering low salary as compare
to market practice also the company strategic relationships with clients is low. but highest production capacity is the result of its
productive employees. Company faces multiple threats from domestic competitors
and converting threats to opportunity is a sign of successful company. But the
company growth is increasing rapidly as compare to past few years.

7.2 Recommendation:

 
Ghani Gases is the fastest growing private company in Pakistan but marketing
and promotional strategies are limiting company’s full potential and growth in
much larger scale. Company must focus on strategies which are mandatory for any
type of business to succeed in this advance technological era.

 
Ghani Gases focus on retaining competitive
employees is low and offering low salaries to its employee’s due to which the
employee’s turnover is high and often become problematic issue.

 
Company should resolve this issue by focusing on marketing and
promotional activities to perform their operations effectively. Ghani gases
have opportunity to introduce new products in Domestic market also can move to
global market. Also for their employee they should set the salary increments
provide the Job enrichment and enlargement.