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- Words: 8,677
- Pages: 55
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INTERNSHIP REPORTS PREPARED BY M. Usman Khan
POWER TRACK (UW-07-MGT-MBA-009) A project submitted in partial fulfillment of the Requirements of the Degree of \
Master of Business Administration MBA Department of Management Sciences University of wah WAH CANTT PAKISTAN
2009
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INTERNSHIP REPORTS PREPARED BY M. USMAN KHAN (UW-07-MGT-MBA-009) INTERNSHIP REPORT (SIX WEEK) START DATE FOR INTERNSHIP: 03 SEPTEMBER 2009 END DATE FOR INTERNSHIP:
20 OCTOBER
2009
POWER TRACK
UNIVERISTY OF WAH WAH CANTT PAKISTAN 2009
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DEDICATION Dedicated to my Loving parents, My brothers & sisters, My respected and venerable teachers, My friends, & All to all those who are praying for my success
LOVED ME & all those who have a soft corner for me in their hearts
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PROJECT IN BRIEF
Project Title: Organization:
Internship Report Power Track
Objective:
Paratical and Industrial knowledge. Degree And Course requirement
Supervised By:
Ms. Komal Gulzar
Dated Started:
03 SEPTEMBER 2009
Dated Completed:
20 OCTOBER
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2009
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ACKNOWLEDGEMENT
All gratitude and thanks to almighty “ALLAH” the gracious, the most merciful and beneficent who gave me courage to undertake and complete this task. I am very much obliged to my ever caring and loving parents whose prayers have enabled to reach this stage. I am grateful to almighty ALLAH who made me able to complete the work presented in this report. It is due to HIS unending mercy that this work moved towards success. I am very great full to my teacher Ms. Komal Gulzar for providing me guideline for the completion of this report. I feel great pride and pleasure on the accomplishment of this report.
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DECLARATION
I hereby declare that I have done this internship and accompanied report entirely on the basic of my personal efforts. If any part of this report is proved to be copied out from any source or found to be reproduction of some other. I will stand by the consequences. No portion of the work presented has been submitted in support of any application for any other degree or qualification of this or any other university or institute of learning.
_______________ M Usman Khan
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CERTIFICATION It is certified that the contents and form of the project entitled “Title of the Project” submitted by M Usman Khan (UW-07-MGT-MBA-009) has been found satisfactory for the requirements of
University of Wah, Wah Cantt For the award of the degree of
MASTER OF BUSINESS ADMINISTRATION (MBA) Supervisor: ______________________________ Ms. Course Co-coordinator:________________________________ Mr. Head of Department:__________________________________ Dr.
Dated:
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EXECUTIVE SUMMARY
We, The Power Track Int.’l (Pvt) Ltd. is energy leading trading company. On the scale of performance we are one of the large Importers, Stockiest and Manufacturer’s Representatives. We are exclusively representing Generators, Construction Machinery, Compressors and maintaining a complete range of spare parts with experience of more than three decades. Purpose of this project is to study the strategies which Power Track Int.’l (Pvt) Ltd. is doing in Pakistani market for its product Power Track Int.’l (Pvt) Ltd. International is a world renowned brand. It is a very well organized multinational company, which operates almost all over the world. In Pakistan It also has proved itself to be the No.1 excevators parts. Now days Power Track Int.’l (Pvt) Ltd. is recognized as Pakistanis National hydralic parts Power Track Int.’l (Pvt) Ltd. 's greatest rival. But Power Track Int.’l (Pvt) Ltd. with its aggressive marketing planning and quick diversification in creating and promoting new ideas and product packaging, is successfully maintaining is No.1 position in Pakistan. Power Track Int.’l (Pvt) Ltd. is operating in Pakistan, through its excevators and generators, all over Pakistan. These parts are Power Track Int.’l (Pvt) Ltd. 's strength.”
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TABLE OF CONTENTS PAGE NO
1- COMPANY’S INFORMATION.........................................................10 SELECTIVE DETAILS OF ORDERS \ SELECTIVE CLIENTELE IN PRIVATE SECTOR COMPANY’S MANAGEMENT
14 17 18 20
CUSTOMER CREDIT APPLICATION............................................................................24 ACCOUNTS AND FINANCE DEPARTMENT ASSIGNMENTS OBSERVATIONS REFERENCES
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1-
COMPANY’S INFORMATION
NAME OF THE FIRM (PVT) LTD.
:
POWER TRACK INTERNATIONAL
ESTABLISHED IN
:
1967
INCORPORATED IN
:
1992
INCORPORATED OFFICE
:
SUITE NO. 103 FIRST FLOOR, JAPAN PLAZA M. A. JINNAH ROAD, KARACHI 74400 PAKISTAN
MAIN OFFICE
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: C-11, BLOCK “ I “ NORTH NAZIMABAD, KARACHI 74700 PAKISTAN
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CONTACT DETAILS
TELEPHONE 0697
:
(021) 272 4407, 272 4687, 277 (021) 667 0877, 667 0878, 275
0088 FAX
:
(021) 667 0617 & 272 6206
URL ADDRESS
:
WWW.POWER-TRACK.COM
RAWALPINDI OFFICE
:
(051) 222 6102, 222 6202 & 222 6081
LAHORE OFFICE
:
(042) 770 9759 & 770 1333
MAIN STORE KARACHI
:
(021) 667 1315
SUB-STORE KARACHI
:
(021) 277 1151
SUB-STORE KARACHI-II
:
(021) 6341182 & 680 9017
STORE LAHORE
:
(042) 780 9578
STORE RAWALPINDI
:
(051) 589 5725
BANK INFORMATION
ASKARI BANK LIMITED Preedy Street Saddar Branch, Karachi – Pakistan
MYBANK LIMITED Plaza Quarter Branch MA Jinnah Road, Karachi - Pakistan
SUBSIDIARY COMPANIES Page 11 of 55
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PINDI AUTOS 121-122 AL-NOOR CHAMBERS, PREEDY STREET, KARACHI REGISTERED WITH GOVT. SEMI-GOVT., LEADING CONSTRUCTION COMPANIES INCLUDING DEFENCE PROCUREMENT CELL I.E. ARMY, NAVY AND AIRFORCE. PINDI AUTOS (SPARE PARTS SALES) SUPER MARKET, NEAR MASJID SABAH, SOHRAB GOTD, KARACHI SALES OF SPARE PARTS FOR CONSTRUCTION MACHINERY. ESPECIALLY, HITACHI, DAEWOO, SAMSUNG, HYUNDAI, KOMATSU & CATERPILLAR AS WELL AS IN MACHINERY RENTAL BUSINESS. BIN AHMED ENGINEERING INDUSTRY 13, 24 & 25, SECTOR C-V, K.E.P.Z. MEHRAN HIGHWAY, KARACHI IMPORT CONSTRUCTION MACHINERY. RECONDITION THEM PRIOR TO EXPORT IN TARIFF AREA AND ABROAD. ASSEMBLING THE GENERATING SET, AND EXPORT TO U.A.E. MARKET. AHMED BUKSH & SONS
C-11, BLOCK “I’, NORTH NAZIMABAD, KARACHI CORRESPONDENCE OFFICE FIRST FLOOR, JAPAN PLAZA, M. A. JINNAH ROAD, KARACHI CIVIL CONSTRUCTORS, APPROVED WITH PAKISTAN ENGINEERING CONCIL AND REGISTERED WITH GOVT. ATONOMY BODIES.
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Mission and Vision MISSION STATEMENT “To be the world's premier machines Parts Company focused on convenient parts. We seek to prodvide quality and geneine parts. And in everything we do, we strive for honesty, fairness and integrity.” VISION STATEMENT “To be the world's best genuine parts company”. Being the best means providing outstanding quality, service, cleanliness and value, so that their every customer is contented and happy with their products.” “To increase the value of their shareholder’s investment through sales growth, cost control and wise investment of resources.”
Progress & Achievments Page 13 of 55
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SELECTIVE DETAILS OF ORDERS
Following list of progress and achievement of company with lint last two year nature of work and amount in rupees and dollar is given below. NATURE OF WORK
AMOUNT
SUPPLY OF SPARES FOR BARRACUDA LFCT TO M/S. CAA CONTACT NO. CAA/2175/1/1881/SUP(PROC)
RS. 665,372.00 US$ 11090.00
SUPPLY OF EQUIPMENT OF BARRACUDA LFCT TO M/S. CAA CONTACT NO. CAA/2175/1/1831/SUP(PROC)
RS. 2,403,900.00 US$. 40,000.00
RENOVATION OF WATER BOWZERS NO. W-48N, W-49N AND W-15N TO M/S. CAA CONTACT NO. GED/IT/RA/A/203,204-06
RS. 1,705,000.00 US$. 28,416.00
RENOVATION OF FIRE CRUSH TENDER ROSEN BAUER OF M/S. CAA CONTACT NO. GED/IT/RA/A/301
RS. 690,000.00 US$. 11,500.00
SUPPLY OF SPARES FOR AFL SYSTEM TO M/S. CAA CONTACT NO. CAA/2175/1/1977/SUP(PROC)
RS. 760,795.00 US$. 12,680.00
SUPPLY OF SPARES ENGINE PARTS FOR BARRACUDA LFCT TO M/S. CAA CONTACT NO. CAA/2175/1/1972/SUP(PROC)
RS. 978,360.20 US$. 16,300.00
SUPPLY OF TOYOTA TOWING TRACTOR TO M/S. CAA CONTACT NO. CAA/2175/1/2437/SUP(PROC)
RS. 3,590,000.00 US$. 59,850.00
SUPPLY FOR SPARES FOR DORMAN LB6 DIESEL ENGINE FOR GRAB CRANE FITTED ON GHD AMINUDDIN TO KARACHI PORT TRUST CONT. NO. ST/GFP/249/T-99/2000/5092
RS. 1,867,638.00 US$. 31,130.00
COMPLETE RENOVATION OF CONVEYOR BELTS AT INTERNATIONAL DEPARTURE AT J.I.A.P FOR M/S. CAA CONTRACT R1-01
RS. 3,405,453.00 US$. 56,580.00
COMPLETE RENOVATION OF CONVEYOR BELTS AT DOMESTIC DEPARTURE AT J.I.A.P FOR M/S. CAA CONTRACT RD-01
RS. 3,473,893.00 US$. 57,900.00
SUPPLY OF HYDRAULIC TEST STAND FOR AIRCRAFT TO M/S. DP AIR CONT. NO. 423298/P-42
USD. 160,463.00
SUPPLY OF 06 UNITS OF GENERATING SETS OF OF 105 KVA OF 400 HZ TO M/S. DP AIR CONT. NO. 423351 / P-42
GBP. 106,080.00
SUPPLY & INSTALLATION OF FOLDED BELLOWS FOR PASSENGER BOARDING BRIDGES OF CAA CONTACT NO. CAA / 2175 / 1 / 2125 / SUP (PROC) REPEAT ORDER FOR SUPPLY & INSTALLATION OF FOLDED BELLOWS FOR PASSENGER BOARDING BRIDGES OF CAA CONTACT NO. CAA/2175/1/2125A/SUP(PROC)
RS. 3,301,200.00 US$. 55,000.00
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RS. 3,301,200.00 US $. 55,000.00
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LIST OF FEW WORKS EXECUTED WITH GOVERNMENT ORGINIZATION
NAME OF WORK
AMOUNT
REPAIRING / MAINTENANCE OF DUMP TRUCK ISUZU FTR OF CDGK CONT. NO. DDO/CM/E&M/08/03
RS. 267,550.00 US$. 4,460.00
REPAIRING / MAINTENANCE OF DUMP TRUCK ISUZU SUPER CDGK CONT. NO. DDO/CM/E&M/06/03
RS. 252,200.00 US$.4,200.00
COMPLETE ENGINE OVERHAULING OF DUMP TRUCK ISUZU FTR CDGK CONT. NO. DDO/CM/E&M/07/03
RS. 214,690.00 US $. 3,580.00
PROCUREMENT OF DIESEL GENERATOR SET MANUAL 100 KVA CAA CONTACT NO. CAA/2175/1/2175-A/SUP(PROC)
RS. 998,000.00 US$. 16,700.00
SUPPLY OF AIR COOLED COMPRESSORS TO M/S. SWAN ENGINEERING RAWALPINDICONT. NO. SE/PROC/CONT54/2003 SUPPLY OF SPARES FOR BARRACUDA LFCT ENGINE 8VF92TA SERIES TO M/S. CAA CONTACT NO. CAA/2175/1/2095/B/SUP(PROC) REPLACEMENT OF WEAKENED / WORN OUT COMPONENTS OF BELT NO. 05 INSTALLED AT ARRIVAL OF TERMINAL – III, J.I.A.P SUPPLY OF AIR COOLED COMPRESSORS TO M/S. SWAN ENGINEERING RAWALPINDI CONT. NO. SE/PROC/CONT58/2003
EURO. 408,526.00
RS. 707,568.00 US$. 11,800.00 RS. 3,022,561.00 US$. 50,400.00 EURO. 523,480.48
SUPPLY OF SPARES FOR GROUND POWER UNITS (HOBART) M/S. DP AIR CONT. NO. 423446/P-42
USD. 32,811.84
SUPPLY OF SPARES FOR GROUND POWER UNITS (HOBART) M/S. DP AIR CONT. NO. 423445/P-42
USD. 56,594.43
SUPPLY OF SPARES FOR GROUND POWER UNITS M/S. DP AIR CONT. NO. 423448/P-42
USD. 46,024.50
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LIST OF WORKS EXECUTED IN THE YEAR 2008-2006 NATURE OF WORK
AMOUNT
SUPPLY OF SPARES FOR AD GENERATING SETS M/S. DP AIR CONT. NO. 423487-A/P-42
RS. 443,212.11 US$. 7,400.00
SUPPLY OF SPARES FOR HYDRAULIC TEST STAND M/S. DP AIR CONT. NO. 423484/P-42
USD. 5,562.05
SUPPLY OF SPARES FOR GROUND POWER UNIT TO M/S. DP AIR COTNT. NO. 423502 / P-42
USD. 100,747.80
SUPPLY OF SPARES FOR AD GENERATING SETS TO M/S. DP AIR COTNT. NO. 423485 / P-42
USD. 10,157.88
SUPPLY OF SPARES FOR CAT GENERATING SETS TO M/S. DP AIR COTNT. NO. 423521 / P-42
USD. 13,554.10
SUPPLY OF SPARES FOR TEDINGTON SHUT DOWN TO M/S. DP NAVY CONT. NO. 320683 / P-32
GBP. 41,253.86
SUPPLY OF CRANK SHAFT FOR MARINE DIESEL ENGINE TO M/S. DP NAVY CONT. NO. 320798 / P-32
RS. 943,101.00 US$. 15,800.00
SUPPLY OF TOWING TRACTOR TO CAA CONT. NO. CAA/2175/1/2437/SUP-PROC
RS. 3,590,000.00 US$. 59,850.00
SUPPLY OF SELINOMETER TO M/S. DP NAVY CONT. NO. 320729 / P-32
GBP. 8,869.95
SUPPLY OF DDC LINER TO M/S. DP NAVY CONT. NO. 320767 / 1 / P-32
RS. 497,780.00 US$. 8,300.00
SUPPLY OF CHESTER TANK TO M/S. DP NAVY CONT. NO. 320569 / P-32
GBP. 37,805.20
RENOVATION OF DOMESTIC DEPARTURE BELT NOS. MD 01 AND MD 02 AT JIAP CAA
RS. 3,405,460.00 US$. 56,760.00
MAJOR OVERHAULING OF DOMESTIC DEPARTURE RACETRACK BELT NO. RD 01 INCLUDING REPLACEMENT OF IT’S WORN-OUT COMPONENTS.
RS. 3,473,900.00 US$. 57,900.00
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LIST OF CONTRACT EXECUTED 400HZ GENERATING SETS AND GROUND POWER UNITS NATURE OF WORK
AMOUNT
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
GROUND POWER UNIT
USD. 32,811.84
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
GROUND POWER UNIT
USD. 56,594.43
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
GROUND POWER UNIT
USD. 46,024.50
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
400HZ GENERATING SETS (06 UNITS)
GBP. 106,080.00
REPRESENTATIVE LIST OF CONTRACT EXECUTED FOR 50HZ GENERATING SETS NAME OF CUSTOMER
CAPACITY
AMOUNT
DEWAN CORPORATION KARACHI
60KVA GENSET
RS. 690,000.00
S.H. ENTERPRISES, KARACHI
40KVA GENSET
RS. 550,000.00
NABI QASIM TEXTILE, KARACHI
150KVA GENSET
RS1,150,000.00
S.H. ENTERPRISES KARACHI
100KVA GENSET
RS. 900,000.00
C.A.A. KARACHI
100KVA GENSET
RS. 998,000.00
NABI QASIM TEXTILE KARACHI
300KVA GENSET
RS. 2,000,000.00
MARMONYX PVT. LTD. KARACHI
500KVA GENSET
RS. 3,200,000.00
MARMONYX PVT LTD. KARACHI
110KVA GENSET
RS. 900,000.00
ADAMJEE DIESEL LTD. KARACHI
300KVA GENSET
RS. 2,385,000.00
KARACHI HOSPITAL KARACHI
40KVA GENSET
RS. 650,000.00
\
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SELECTIVE CLIENTELE IN PRIVATE SECTOR KARACHI METROPOLITAN CORP. M. A. JINNAH ROAD, KARACHI ATTOCK CEMENT PAKISTAN LTD. 5TH FLOOR, P.N.S.C. BUILDING, M. T. KHAN ROAD, KARACHI M.IFTIKHAR & CO. PVT. LTD. TIPU SULTAN ROAD, OFF SHAHEED-E-MILLAT ROAD, KARACHI THATTA CEMENT CO. LTD. GHULAMULLAH ROAD, MAKLI – THATTA ABID MINING CO. JAPAN PLAZA, M. A. JINNAH ROAD, KARACHI
CHERAT CEMENT CO. LTD. MODERN MOTOR HOUSE, BEAUMONT ROAD, KARACHI AGRICULTURE DEPT. GOVT. OF PUNJAB, 21, DEVIS ROAD, LAHORE KARACHI DEVELOPMENT AUTHORITY CIVIC CENTRE, GULSHAN-E-IQBAL, KARACHI
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M. IFTIKHAR & COMPANY Pvt. LTD. TIPU SULTAN ROAD, OFF SHAHEED-E-MILLAT ROAD, KARACHI DEWANI CORPORATION NORTH KARACHI – KARACHI TEL: 690 9755
S. H. ENTERPRISES TARIQ ROAD – KARACHI TEL : 494 8130 MARINE GROUP OF INDUSTRIES I.I. CHUNDRIGAR ROADKARACHI TEL :241 7933 NABI QASIM INDUSTRIES I.I. CHUNDRIGAR ROAD KARACHI 263 3569
CREDIT AGRICOLE INDOSUEZ CLIFTON KARACHI TEL : 587 8697
S.K. FILLING STATION RASHID MINHAS ROAD KARACHI TEL : 498 1539
TARGET C.N.G STATION MAIN SHARAHE FAISAL KARACHI TEL :4596955
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IRRIGATION POWER AUTHORITY NEAR RITZ HOTEL, JAMSHORO, HYDERABAD
SAGHIR SONS TEXTILES KORANGI INDUSTRIAL AREA KARACHI TELL: 5057580
REFRENCE LIST OF FOREIGN FIRM GRANDMART LIMITED 96 BERKELEY AVENUE, CRANFORD, MIDDX., TW4 6LB LONDON - ENGLAND RAINER PHILIPPS INT’L TRADE GMBH BAUERNWEIDE 6, 21149 HAMBURG 92 – GERMANY
AL-SADA AUTO & HEAVY EQUIPMENT SPARE PARTS TRADING LLC P,O. BOX. 29487, OPP. SKYLINE COLLAGE SHARJAH U.A.E. GENTEC POWER SYSTEM P.O. BOX. 220, WEMBLEY, ENGLAND. INCOTEC INTERNATIONAL ( SUBSIDIARY OF FABSKUN ONTARIO INC )
2750, 14TH AVENUE, # 308, MARKHAM, ONTARIO CANADA L3R 0B6 TORONTO-CANADA
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COMPANY’S MANAGEMENT
CHIEF EXECUTIVE & MANAGING DIRECTOR
:
MR. SOHAIL AHMED
DIRECTORS
:
MRS. KANIZ FATIMA MRS. FARZANA S. AHMED
MANAGING STAFF MR. SOHAIL AHMED Mr. Iskander S. Malik
:
Director Business Dev. / Coordination
Mr. Nadeem Ahmed
:
General Manager (Parts Division)
Mr. S. M. Saqib Rizvi
: FIELD OPERATION
RECONCILI-ATION
General Manager (Marketing)
WING
Mr. Sohail Ahmed
:
General Manager (Finance)
Mr. Amir Rasheed
:
Manager (Accounts)
Mr. Mohammed Aqil
:
Manager (Administration)
Mr. Zulfiquar Ali
:
Manager (Parts Division)
Mr. Safder Hussain (Northern Region)
:
Manager Technical
Mr. Malik Itbar (Nothern Region)
:
Coordinator
Mr. Zahid Shah (Nothern Region - Civil)
:
Coordinator
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SYSTEM REVIEW WING
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CONSULTANT & ADVISORS
Mr. Kamran Ahmed Rabbani
:
M.B.A (U.S.A) Business Adviser
Muhammad Saleem & Company
:
Chartered Accountants B-1 Byculla Mansion, Shahrah-E- Liaquat,
Karachi Raza Siddiqui & Co.
:
Chartered Accountants Room No. 401, Amber Estate K.C.H.S.U. - Karachi
M/S. Najmi & Company
:
Tax Advisor 7-Saifee House Elender Road, Off I.I Chundrigar Road Karachi
M/S. Neel & Law Associates
:
Legal Advisor / Advocates 32 Sir Jahangir Kothari Building Denso Hall, Karachi
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Organization’s Departments
• Administrative department Mr. Mohammed Aqil is Administration of Power Track. He control all the activities of company in Head office as well as regional office Lahore and Rawalpindi. Following are the General rules and condition applicable on the all branch and head office as well. GENERAL RULES & CONDITION (APPLICABLE TO ALL BRANCHES AND HEAD OFFICE) Two lates are allowed in a month.(shall be counted after 10.30am.) third late shall be treated as “leave with half pay”. casual leave once in a month is allowed. second leave of the month shall be treated as “without pay” holiday before or after leave shall be treated as leave. (two days leave) WORKING ENVIRONMENT This is the responsibility of the working staff to maintain the discipline and avoid to disobedience or use of abusive language otherwise management has right to take disciplinary action entirely at their own discretion. OFFICE EQUIPMENT The staff is responsible for the maintenance of the equipment in his use. if there is any problem, it should be brought in writing with date and time to Mr. Bilal ahmed or Mr. Amir Rasheed immediately. Otherwise user shall be responsible. OFFICE DOCUMENTS No document is issued without proper reference number and date. It should indicate “file
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• Sale and marketing department Mr. S. M. Saqib Rizvi is General Manager (Marketing) of sale and marketing in PTIL. He control both Head branch and rawalpindi and Lahore branch as well. The Mr. Safder Hussain is rawalpindi branch manager of sale and marketing and Lahore branch is control by Mr. Zia. They are responsible for make Purchase order and Sale and Credit activities done in all branches. ADDITIONAL RESPONSIBLITIES OF SALE MANAGER : Sales and stock provide daily sales & expense details to h/o with copies of d/c, c/m, vouchers and day book through Mr. Akmal. All purchase requirement be reported to Mr. Nadeem by hand or e-mail [email protected] & Copy e-mail to [email protected] The credit form is fill by customer and send to Head office and then Head office decide credit limit and terms of credit with customers. The detail of credit form is given in next page.
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© © Copyright Copyright Envision Envision –– Smart Smart Business Business Solutions Solutions (4100883 (4100883 Canada Canada Inc.). Inc.). 2002. 2002. All All rights rights reserved. reserved. Protected Protected by by the the copyright copyright laws laws of of the the United United States States and and Canada DISTRIBUTE, PUBLISH, OFFER FOR SALE, LICENSE Canada and and by by international international treaties. treaties. IT IT IS IS ILLEGAL ILLEGAL AND AND STRICTLY STRICTLY PROHIBITED PROHIBITED TO TO DISTRIBUTE, PUBLISH, OFFER FOR SALE, LICENSE OR OR SUBLICENSE, SUBLICENSE, GIVE GIVE OR OR DISCLOSE DISCLOSE TO TO ANY ANY OTHER OTHER PARTY, PARTY, THIS THIS PRODUCT PRODUCT IN IN HARD HARD COPY COPY OR OR DIGITAL DIGITAL FORM. FORM. ALL ALL OFFENDERS OFFENDERS WILL WILL AUTOMATICALLY AUTOMATICALLY BE BE SUED SUED IN IN A A COURT COURT OF OF LAW. LAW.
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CUSTOMER CREDIT APPLICATION
Name:
NIC:
Address: City:
Province:
Mob:
Fax:
Postal:
Phone:
Email:
Delivery Address:
Bank Details Bank Name:
Bank Name:
Account #
Account #
Address:
Address:
Phone:
Phone:
Mob:
Mob:
Credit Details Settled due days:
Amount:
Credit limit:
Settled discount:
Reference: Name/Proprietor
NIC:
Full Address:
Mob:
Fax:
Email:
Bank detail
I hereby certify that the information contained herein is complete and accurate. This information has been furnished with the understanding that it is to be used to determine the amount and conditions of the credit to be extended. Furthermore, I hereby authorize the financial institutions listed in this credit application to release necessary information to the company for which credit is being applied for in order to verify the information contained herein.
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www.uw.edu.pk __________________________________________
Signature
______________________________________
Date
• Procurement department Mr. Nadeem Ahmed is General Manager of (Procurement department). He Manage all the supply of Karachi Lahore and rawalpindi branch. Mr. Hashim is Procurement manager of Generators parts. They contact with foreign companies (CHINA, KOREA, TAIWAN, ETC) and Take quotation and maintain supply. They coordinate with sale and marketing department and meet their demands. And they also contact with local companies for there supply business of general order supply. All branch provide special report design by software to related manager.
• Financial and account department Mr. Sohail Ahmed is General Manager (Finance) of Power Track international limited. All branch provide following details to Head of Accounts on daily and weekly basics. sales and stock is sole responsibility of the branch Incharge and will provide following details to head office: •
• • •
DAY CASH BOOK (MUST BE SENT VIA E-MAIL DAILY AS PER FORMAT) DAILY SALES DETAILS DAILY EXPENCE DETAILS COPIES OF DELIVERY CHALLAN ( WEEKLY BASIS ) COPIES OF CASH MEMO ( WEEKLY BASIS ) VOUCHERS ( WEEKLY BASIS )
through any courier service rawalpindi will dispatch weekly report on every Thursday and Lahore will dispatch on every Saturday. all purchase requirement be reported to Mr. Nadeem by courier, post or email to [email protected] & COPY E-MAIL TO [email protected] all issues related to software & accounts must be reported to Mr. Sohail khan. urgent matters via telephone (021) 6670877 & 78 and details must be sent via email on weekly basis to [email protected] all requirement of parts must be reported weekly by e-mail to [email protected] & copy e-mail to [email protected]
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Organization’s Product and services Diesel Generator Air Compressors
Construction Machinery Spare Parts Financing facility After Sales Service Service
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World renowned brand GenTec - England Diesel Generators coupled with: Cummins, Perkins, Volvo Penta, John Deere, & Lister Diesel Engines with Newage Stamford / Leroy Somer Alternators Imported from LMF AG – Austria High Pressure Piston compressors (Air / Water cooled) Process gas compressors. Oil free air compressors (Pet-bottle application). High speed balanced opposed compressors. Custom designed compressors.
Complete range of construction machinery i.e. bulldozers, Loaders, Excavator, Wheel Loaders, Cranes, Dump Trucks, Motor graders ETC. A large set up of spare parts division offers a wide range of spares at very competitive prices for Construction Machinery, Generator, Compressors etc As a part of our commitment to customer services we can arrange Financial/Leasing facility to alleviate your financial constraints. We have well established service department with the team of experienced & qualified technicians dedicated to their jobs & service at site available. Repair & maintenance of Power Generating sets. Trouble shooting Erection of individual Generating sets. Maintenance contract at very nominal charges
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2-
INTERNSHIP Accounts and finance Department
Accounts and finance department is a backend department at (power track pindiautos) that performs the following functions all base on the computerized accounting and management. The all working of accounts is done through software name Sage. The General Manager (Finance) of power track international is Mr. Sohail Ahmed and manger of Accounts is Mr. Amir Rasheed. The detail of Sage Sage include following bar A. The Task Bar The task bar view allows you to customize your sage line 50 desktop to list the core tasks that you use the most frequently. It is on left of screen. From view menu one can activate and deactivate. B. Title Bar The title bar shows the name of the window. Example (SAGE LINE 50 FINANCIAL CONTROLLER POWER TRACK) C. Menu Bar The Sage Line 50 menu bar contains nine separate menus each with its own set of options. i.
File
ii.
Edit
iii.
View
iv.
Modules
v.
Settings
vi.
Tools
vii.
Favorites
viii.
Window
ix.
Help
D. Toolbar The desktop toolbar is a series of buttons that activate the sage line 50 main options. You can change the position and appearance of your toolbar. For example, you can add a background bitmap of your choice to your toolbar. D
Control Menu
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The control menu box in the upper left corner of each window. It contain minimizes, maximize and close button. E
Status Bar The status bar show windows name and program date and working of your works.
The Modules of Sage line 50 financial:1. Customer Data of customer This module of software ware help in creating customer account with detail information like Name of customer and with full address, email fax and limit and Tax number. Record of transaction It also help to see the record of transaction to the customers with transaction number, types, date, ref, details and amounts.
Letter to customer: The software can create automatically letter to customer such as change of address . reminder of balances and transaction letter and email.
Reports: The company can generator report to customer such as summary of accounts, payment summary , discount summary etc.
2. Supplier Data of supplier This module of softwareware help in creating supplier account with detail information like Name of supplier and with full address, email fax and limit and Tax number. Record of transation It also help to see the record of transaction to the supplier with transaction number, types, date, ref, details and amounts.
Letter to supplier: The software can create automatically letter to supplier such as change of address . reminder of balances and transaction letter and email and order to supplier. Page 28 of 55
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Reports: The company can generator report to supplier such as summary of accounts, payment summary , discount summary , order summary etc.
3. Nominal Ledger Journal entry The nominal ledger modular contain journal entry options one can do direct journal entry from this option. A journal entry comprises a batch of individual debit and credit transactions. To transaction. Each line of journal entry table represents a single transaction, and there must be at least two transactions in the journal. Reverse entry If you have posted a journal entry incorrectly, you can use the reversals option to
remove the journal. You can then re-enter the journal correctly. For
example if you have posted a journal with the incorrect date, you can reverse the journal and then re-enter the information with the correct date.
Chart of account The chart of accounts is subdivided into category types. By default, the category types for the profit and loss report are sales. Purchases, direct expenses and overheads and for the balance sheet report they are fixed assets, currents assets, currents liabilities, long terms liabilities and capital and reserves. Each category type is subdivided into category accounts, each of which consists of a heading and a range of nominal accounts.
4.
Banks/Cash Accounts
Record supplier payment We can record supplier payment from this menu. We can record amount of discount and amount paid to supplier whether through bank or cash.
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Transaction number, date supplier description and check number should be give to fulfill the payments.
Record receipt from customer Same like supplier we can record receipt from customer and information required for this receipt date, amount and discount if any. cheque, or cash. Both kind of recording can be handle from this.
Banks reconciliation statement Work throught your bank statement one line at a time. Find the same transaction on screen and click the left mouse button to select it for reconciliation ( the selected line is highlighted. As you select each transaction, you will see that the reconcile balance on the bank reconciliation window changes automatically. This should match the balance shown by the bank statement (normally shown in the right hand column). If, as you work down the bank statement a transaction is shown that is not in Line 50 (i.e. bank charges or cash point withdrawals, etc.) you should record this transaction straight away. To record the transaction, use the adjustments button directly from the bank reconciliation window.
Transfer of payment This option provide transfer amount from bank to cash or cash to bank or bank to bank or petty cash account with proper transaction number and date. And report of transfer is also available.
Opening and closing of bank/cash accounts If you are creating a new record, Sage Line 50 includes a wizard to guide you through the process. To run the wizard, from the Bank Accounts window, choose the New button and follow the on-screen instructions. Alternatively click Record. In the A/C Ref box, enter a new reference number for your new account. Use the Tab key to move onto the next field. The record will display ‘New Bank Account’ alongside the A/C Ref box. Various account available such as cash account , bank accounts example askari commercial banks , petty cash etc.
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Produce Check automatically From the Bank Accounts window toolbar, click Cheques. The Print Cheques window appears displaying all remittances transaction types PI (Purchase Invoices), PC (Purchase Credit Notes) and PA (Purchase Payments on account) that have not been printed before and have blank references. The window also lists remittances for BP (Bank Payments), but only those where you have selected to print the cheque. If you want to keep a record of the cheques listed, click Print List.
5.
products
The following information regarding product can be recorded in the software: • • • • • • • • • • • • • • • • • •
Product Code Free Stock Item Type Allocated (Financial Controller only) Description On Order (Financial Controller only) Category Last Ord Qty (Financial Controller only) Location Last Ord Date (Financial Controller only) Weight Re-order Level (Accountant Plus and Financial Controller only) Com. Code Re-order Qty (Accountant Plus and Financial Controller only) Department Last Cost Price (Standard) Nominal Code Last Cost Price (Discounted)
In the Task Manager you can view the items that are out of stock, below the reorder level, on order and allocated. This provides you with a quick efficient way of viewing your stock levels, enabling you to make decisions on the items you need to reorder and the items you are waiting for
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6.
Invoicing
Invoicing lets the software user the following information entrance in the computer: * What is a Product Invoice? * How to Add or Edit your Product Invoice Details * How to Enter Product Item Lines on your Invoice * How to Add a Message to a Product Invoice * How to View the Discount Breakdown Box * How to Add Order Details to a Product Invoice * How to Add Footer Details to a Product Invoice * How to Add Payment Details to a Product Invoice * How to Print the Product Invoice Straight Away * How to Update Your Ledger
7.
Purchase order processing POP
In the boxes provided, enter the details for your purchase order. 1 Enter the product items you wish to purchase, one line of the purchase order per product. 2. Continue to enter all the lines of product items on the purchase order that you require. If you wish to copy or duplicate any of the rows or cells from an existing line of the purchase order, use the options from the Edit menu. You have now completed the header details for your purchase order. The following information appears for you automatically: 3.complete your purchase order, you may also want to enter:
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Delivery details; and Carriarge corsts and settlement terms. If you do not wish to add any order or footer details to this purchase order, you have the choice of sending it directly to a printer, recording the delivery of it straight away or saving it for later printing, putting on order and recording delIf you use this purchase order regularly, why not save it as a ‘skeleton’ purchase order, so you can re-create it quickly and easily. To save the order for later printing, putting on order and recording delivery in a ‘batch’, click Save, or to print the purchase order straight away click Print.
8.
Financials
The Financials window lists the transactions that you have entered. The transactions are listed in the order that you entered them and are given a sequential number automatically, e.g. 1,2,3,4 etc. Every single transaction you have entered will be shown unless you have used the Sage Line 50 Clear Audit Trail option, which clears down transactions that have been fully paid and reconciled • • • • • • • •
To Run a Financial Report To Print an Audit Trail Report To Run the Balance Sheet Report To Run the Budget Report To Run the Prior Year Report To Run the Profit and Loss Report To Run the Trial Balance Report To Run the Quick Ratio Report
9.
Reports
Report The Report Designer includes a special Report Variable List option that controls how variables are sorted and how they filter the data they receive. The Report Designer also includes the ability to insert graphic objects, such as rectangles and lines.Layouts
Stationery Layouts Stationery Layout files are designed to handle your every day stationery that is printed onto pre-printed forms, such as 3-part invoice paper. They include special layout template files to give you a background image of the Sage stationery that they will be printed on.
Letter Layouts Sage Line 50’s Report Designer gives you standard customer and supplier letters which you can use at any time. As you get more familiar with the Report Designer,
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you may wish to create your own standard letters that incorporate data from the boxes in your customer or supplier records.
Label Layouts The Label Report Designer includes the options to insert graphic objects. Also included is a special tab in the Page Set-up option that lets you choose the specific type of label stationery you want to use.
10. Sage MIS Sage MIS (Management Information System) allows you to see the key features of your company data as a series of tables and graphs. When you first open the Sage MIS option, the 'My Business Page' appears. this displays a set of default company reports. You can change the reports that you want to display on this page from the Settings option. The Management Information option contains the following reports: • • • • • • • • • • • • • • • • • •
Sales Reports Sales by Product (Accountant Plus and Financial Controller only) Sales by Product Category (Accountant Plus and Financial Controller only) Product Sales Chart (Monthly) (Accountant Plus and Financial Controller only) All Product Sales by Customer (Accountant Plus and Financial Controller only) All Sales by Customer Type (Accountant Plus and Financial Controller only) Customer Sales Chart (Monthly) Top Customers Product Reports Product Availability (Accountant Plus and Financial Controller only) Product Profit Margin (Accountant Plus and Financial Controller only) Slow Moving Products (Accountant Plus and Financial Controller only) Credit Control Reports Customer Account Balances Customer Aged Balances Customerr Account Balances Supplier Aged Balances Finance Report
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• •
Financial Highlights Profit and Loss
Assignments I have learned to use the following modules of the sage software that is under the use in the company:
1. Customers management: This module lets the software user to actively and continuously manage the customers in a convenient way. Managing and getting information about customers’ credit account, future creditability, the payment period/limit of the customers’ payment date, payment due date and actual payment made by the customers are the main concerned features of this module.
2. Suppliers management: Managing all information about suppliers and to conveniently manage different suppliers data is the benefit provided by this module. Having suppliers’ addresses, telephone number, website, amount payable to suppliers, amount paid in advance, amount already paid, credit limit, account status, date material received from the supplier are some of the key features of this module.
3. Nominal chart of Account We can create any new nominal account codes, use the Nominal Ledger Chart of Accounts option to make sure these codes appear in the correct categories on your financial reports.
4. Bank ♣ From the Bank Accounts window, select the bank account you wish to edit from the list displayed (or, if you are adding a new account, accept the default selection), and then click Record. The Bank Record window appears. Note: If you are creating a new record, Sage Line 50 includes a wizard to guide you through the process. To run the wizard, from the Bank Accounts window, choose the New button and follow the on-screen instructions. Alternatively click Record. In the A/C Ref box, enter a new reference number for your new account. Use the Tab key to move onto the next field. The record will display ‘New Bank Account’ alongside the A/C Ref box. ♣ To create a new account, click Discard. This clears any data shown. ♣ In the boxes provided, enter the following bank account details: Page 35 of 55
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To add further details to your bank account, choose the tab you require from the Bank Record window. ♣ To save the bank record, click Save. To clear the details you have entered and start again without saving, click Discard. ♣ To exit the Bank Record window, click Close.
5. Products The following information regarding product can be recorded in the software:
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Product Code Free Stock Item Type Allocated (Financial Controller only) Description On Order (Financial Controller only) Category Last Ord Qty (Financial Controller only) Location Last Ord Date (Financial Controller only) Weight Re-order Level (Accountant Plus and Financial Controller only) Com. Code Re-order Qty (Accountant Plus and Financial Controller only) Department Last Cost Price (Standard) Nominal Code Last Cost Price (Discounted)
6. Invoicing Invoicing lets the software user the following information entrance in the computer:
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What is a Product Invoice? How to Add or Edit your Product Invoice Details How to Enter Product Item Lines on your Invoice How to Add a Message to a Product Invoice How to View the Discount Breakdown Box How to Add Order Details to a Product Invoice How to Add Footer Details to a Product Invoice How to Add Payment Details to a Product Invoice How to Print the Product Invoice Straight Away How to Update Your Ledger
7. POP In the boxes provided, enter the details for your purchase order. 1 Enter the product items you wish to purchase, one line of the purchase order per product. 2. Continue to enter all the lines of product items on the purchase order that you require. If you wish to copy or duplicate any of the rows or cells from an existing line of the purchase order, use the options from the Edit menu. You have now completed the header details for your purchase order. The following information appears for you automatically: 3. To complete your purchase order, you may also want to enter: Delivery details; and Carriarge corsts and settlement terms. If you do not wish to add any order or footer details to this purchase order, you have the choice of sending it directly to a printer, recording the delivery of it straight away or saving it for later printing, putting on order and recording delivery.
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If you use this purchase order regularly, why not save it as a ‘skeleton’ purchase order, so you can re-create it quickly and easily. To save the order for later printing, putting on order and recording delivery in a ‘batch’, click Save, or to print the purchase order straight away click Print.
8. Financials The Financials window lists the transactions that you have entered. The transactions are listed in the order that you entered them and are given a sequential number automatically, e.g. 1,2,3,4 etc. Every single transaction you have entered will be shown unless you have used the Sage Line 50 Clear Audit Trail option, which clears down transactions that have been fully paid and reconcile
9. Day book: I daily maintain day book the format of day book is given below and I send daily day book to head Office Karachi
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Dat e:
1/1/2009
DAY BOOK SHEET RECEIPT
Date 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009
Particul ars
v .
PAYMENT
Ca sh
ASK (KAR )
P/ Ca sh
0
0
0
JV
Particulars
V.
Ca sh
AS K
0
0
P/Cash
O/B
Total Balance C/F
0
Total
0
Power Track financial analysis Common Size Analysis (Vertical and Horizontal)
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Horizontal Analysis
Vertical Analysis Liabilities and Owner Equity Issued, Subscribed and paid-up capital Capital reserves Unappropriate profit Non-Current Liabilities Long-term finance Deferred Liabilities Liabilities against subject to finance lease
2008
2007
2008/2007
6%
7.3%
150%
51.8
42.5
220
8.7
14.9
110
66.5
64.7
8.6
0
4.7
8.1
.0073
.09
0 100 10
Current Liabilities: Current portion of long-term liabilities
.044
13.3
0.6
13.8
3.8
Finance under mark up agreement
680
0.8
0
Derivatives
5.3
9.3
103
Credit and other liabilities
0.2
0.8
32
33.5
35.3
100
100.
0
Provision for taxation
Assets
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2008
2007
2008/2007
Property, Plant and Equipment
25.8%
45.4%
102%
0.05
0.01
80
Investment property
0.1
0.2
103
Asset subject to finance lease
0.1
0.2
70
28.1
5.1
990
6
10.7
100
Long Term loans
0.1
0.1
280
Retirement benefits
0.5
0.8
120
3.5
5.9
110
9.8
16.9
100
6.8
9.9
120
0
0.1
0
1.7
2.4
130
17.4
2.2
1390
44.10
51.62
100.0
100.00
Intangible Assets
Capital work in process Investment
Current Assets Store and Spaces. Stock in trade. Trade Debt. Investments Loans advances and receivables Cash and Bank Balance.
It is clear from the horizontal analysis that there is an increase in overall assets and liabilities and owner equity figure. The retained earning and long-term liabilities has increased and the capital reserves and issued shares remained the same. The increase in retained earning and long-term debt shows that the company wants to invest more in the business this year. He inventory has decreased and the receivables have also decreased that shows company’s efficiency in covering the receivables and selling the stock. Profit and Loss Accounts: Page 42 of 55
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Horizontal Analysis
Vertical Analysis 2008
2007
2008/2007
100.0%
100.0%
100%
Net Sales and Commission Income
100
100
130.6
Cost of Sales
80.9
78.1
135.4
Gross Profit
19.1
21.9
113.3
Selling and Distribution Expenses
2.8
2.9
117.9
Administration and General Expenses
4.9
5.8
100.7
Financial cost
2.6
2.3
122.6
Other Operation Charges
1.3
1.4
133.1
Other Operating Income
2.6
1.4
176.7
Investment income
8.6
9
130.5
18.7
19.9
128.3
4.4
3.8
140.8
14.3
16.1
124.8
Turnover
Profit before Taxation Taxation Profit after Taxation
It is clear that the sales of the company have increased than the previous year that may be due to decrease in sales discounts and commission. Operating income has also increased showing increased efficiency in operations and reduced operation costs. The other income has played a significant role in 2007. It may be due to gain on sale of some asset or unexpected gain. The amount of tax has increased in 2008. All these factors have reduced the increased operating income effect on net sales and net sales have reduced.
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Ratio analysis: Operating ratios: Days Sales in Receivables = Gross Receivables/(NetSales/365) 2008=39 2007=40 The days receivable indicate the length of the time that has been outstanding at the end of the year. Packages ltd have days sale of receivable of 39 days in 2008 and 40 Days in 2007 which indicates that packages ltd converted its sale into net income quickly in 2008 then in 2007. This may be changed due to seasonal sale or change in sale for any other reason. To remove this fact we take the gross receivables. Account Receivable Turnover = Net Sales/ Average Gross Receivables 2008=9 2007=9.33 Account receivable turnover indicate the liquidity of the receivables. This shows how easily company can liquidate its receivables. Packages ltd has liquidity of 9 times in 2008 and 9.33 Times in 2007. Account receivable also change due to the change in sale for different reason like seasonal fact. Companies can use the sale for different moths to overstate or understate the liquidity of receivable, but account receivable turnover use the average of gross sale. Liquidity of receivable for the companies varies according to nature of the business of that company.
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A/C Receivable Turnover in Days = Average Gross Receivables/(Net Sales/365) 2008=73 Days Sales in Inventory = Ending Inventory / (Cost of Goods Sold/365) 2008=73 days 2007=85 days The day’s sales in inventory estimate the number of days that it will take to sell the current inventory. Due to different reason estimate may be vary. The cost of goods sold figure is based last year’s sales, same divided by the number of days in a year. Ending inventory may also differ due to the by using different methods for inventory. The packages ltd has day’s sales in inventory 73 days in 2008 and 85 days in 2007.
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Inventory Turnover = Cost of Goods Sold / Average Inventory 2008=5.13 2007=4.83 In inventory turnover show the time, in which it will convert, the current inventory into sales. For inventory turnover in days we use average inventory to eliminate the change variation due to the change of sale. Packages have suitable inventory turnover. Inventory Turnover in Days = Average Inventory / (Cost of Good Sold/365) 2008=71 days 2007=76 days
Inventory turnover in days is for the estimation of the number of days that it will take to sell the current inventory. Formula is same as of day’s sales in inventory. But in inventory turnover in days we Operating Cycle = Accounts Receivable Turn Over in Days+ Inventory Turn-over In days. use average inventory. 2008
2007
73 Days
88 Days
Solution: Operating cycle represent the period of acquisition of goods and conversion of the good
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into cash. It is higher for the companies like Packages ltd. Because the company purchase raw material converts it in to product then it sells it to whole seller. All process increase the operating cycle. Working Capital = Current Assets – Current Liabilities 2008=2222907 2007=675932
Working capital of a business indicates of the short run solvency of the business. This show how easily firm can pay the short-term loans. Current Ratio = Current Assets / Current Liabilities 2008=2 2007=1.4
Current ratio also determines the short-term debt paying ability of the firm. Its ability is increased in 2008 as compare to 2007 because ratio is increased. Quick Ratio = (Cash + Account Receivables) Current Liabilities. 2008=1.20 2007=0.45 Acid test ratio includes the only most liquid items of the current assets. Acid test ratio may decrease from 1. Packages ltd is manufacturing unit. For such like company acid test ratio must be Page 47 of 55
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round about the 1. But Packages ltd has acid test ratio 1.20 in 2008 and 0.45 in 2007 although it increased in 2008 but enough. Means Packages can easily meet all its current liability with its most liquid asset. It should manage through the sale of inventories. Cash Ratio = (Cash equivalents + Marketable Securities) / Current Liabilities 2008=0.86 2007=0.08
Cash receivable indicates include the only the cash in hand. Packages ltd have low cash ratio. Packages ltd has most of its current assets in inventory and Net receivables. Packages ltd have very low amount in hand as compare to its current liability.
Sales to Working Capital = Sales / Average Working Capital
2008=3.91
2007=8.86
Sales to working capital give an indication of the turnover in working capital per year. A low working capital indicates an unprofitable use of working capital.
Debt Ratio = Total Liabilities / Share Holder Equity
2008=1.50
2007=1.54
Debt to Tangible Net Worth = Total Liabilities / (Share Holder Equity – Intangible Assets)
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2008=1.50
2007=1.55
Net Profit Margin = (Net Income Before Minority Share of Earnings and . Nonrecurring Items) Net Sales
2008=0.14
2007=0.16
This ratio measures the profitability of the company. This measures of net income rupees, generated by the each rupee. The Packages ltd have good profitability ratio.
Total Asset Turnover = Net Sales / Average Total Assets
2008=0.39
2007=0.36
Total assets turnover indicates the ability of the firm to generate sale using its assets. The Packages ltd has total asset turnover 0.39 in 2008 and 0.36 in 2007.
Return on Assets = ( Net Income Before Minority Share of Earnings and Nonrecurring Items)
Average Total Assets
2008=0.11
Return on assets measure the firm’s ability to utilize its assets to create profits by comparing with the assets that generate the profit. Packages ltd has return on assets 0.11 in 2008 .
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Operating Income Margin = Operating Income / Net Sales
2008=0.13
2007=. 0134
2008
2.242
2007 Sales to Fixed Assets = Net Sales / (Average Net Fixed Assets “Exclude Construction in Progress”) 2.618 2008=0.64
2007=0.60 Solution: Sale to fixed assets measures the firm’s ability to make productive use of its property, plant, and equipment by generating sales Rupees.
Gross Profit Margin = Gross Profit / Net Sales
2008=0.19
2007=0.22
Gross profit margin tells us about the control on the cost of goods sold. Packages ltd has gross profit margin 19% in 2008 and 22% in 2007. It means company’s gross profit margin is decreases as compare to last fiscal year. This shows the good control on the cost of goods sold. Gross profit margin predict about the profitability of the company.
Degree of Financial Leverage = EBIT / EBT
2008=0.68
2007=0.66
Basic Earnings per Common Share = (Income – Preferred Dividend)/ . (Weighted Average Number of Common Shares Outstanding)
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2008=16.25
2007=19.68
------------------------------------------------------------------------------------------------------------
Book Value per Share = (Total Stock Holder Equity – Preferred Stock) / No. of Common Shares
2008=0.11
2007=0.09
------------------------------------------------------------------------------------------------------------
Asset Turnover = Net Sales / Average Assets
2008=0.70
2007=1.06
Return on Assets = Operating Income / Average Assets
2008=.04
Cash flow Analysis
Operating cash floe to current maturity of long term debt and current notes payable = (operating cash flow)/current maturity of LT debt and N/p
2008=174
2007=0.91
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Operating cash flow to total debt=operating cash flow/total debt 2008=1.75
2007=1.23
Operating cash flow per share=operating cashflow-p.dividend/common share
2008=1.20
2007=0.45
Learning:From learning point of view this experience is very useful for me. I gain a lot from this practice. During this session I have work Accounting software sage, which is useful for me in my Paratical life. It enhances my knowledge in especially in accounting and finance. So my MBA degree in finance got more worth. From this working I have learn many other accounting software quick book and Peachtree. I have work on all module of software such as customer, supplier , banks , nominal, report and MIS. I maintain manual account as well so I got decent knowledge related manual accounts maintains. From learning point of view it put positive impact on my degree.
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Observations
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3- Conclusions:
Organization is working very well since past 30 years and the software usage in managing proper account has increased the working efficiency and effective data handling. I have been working in this company since last 3 years and I am confident that I have learned much by working in this company. Handling of accounts, their proper management is a special experience I gained in parallel with having the know-how of running the business properly with creating fruitful results. I can show my learning in a practical way by running my own successful business with the hope of a bright future and the better financial results.
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REFERENCES
•
•
Web source: www.power-track.com Annual reports of power Track
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INTERNSHIP REPORTS PREPARED BY M. Usman Khan
POWER TRACK (UW-07-MGT-MBA-009) A project submitted in partial fulfillment of the Requirements of the Degree of \
Master of Business Administration MBA Department of Management Sciences University of wah WAH CANTT PAKISTAN
2009
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INTERNSHIP REPORTS PREPARED BY M. USMAN KHAN (UW-07-MGT-MBA-009) INTERNSHIP REPORT (SIX WEEK) START DATE FOR INTERNSHIP: 03 SEPTEMBER 2009 END DATE FOR INTERNSHIP:
20 OCTOBER
2009
POWER TRACK
UNIVERISTY OF WAH WAH CANTT PAKISTAN 2009
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DEDICATION Dedicated to my Loving parents, My brothers & sisters, My respected and venerable teachers, My friends, & All to all those who are praying for my success
LOVED ME & all those who have a soft corner for me in their hearts
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PROJECT IN BRIEF
Project Title: Organization:
Internship Report Power Track
Objective:
Paratical and Industrial knowledge. Degree And Course requirement
Supervised By:
Ms. Komal Gulzar
Dated Started:
03 SEPTEMBER 2009
Dated Completed:
20 OCTOBER
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2009
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ACKNOWLEDGEMENT
All gratitude and thanks to almighty “ALLAH” the gracious, the most merciful and beneficent who gave me courage to undertake and complete this task. I am very much obliged to my ever caring and loving parents whose prayers have enabled to reach this stage. I am grateful to almighty ALLAH who made me able to complete the work presented in this report. It is due to HIS unending mercy that this work moved towards success. I am very great full to my teacher Ms. Komal Gulzar for providing me guideline for the completion of this report. I feel great pride and pleasure on the accomplishment of this report.
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DECLARATION
I hereby declare that I have done this internship and accompanied report entirely on the basic of my personal efforts. If any part of this report is proved to be copied out from any source or found to be reproduction of some other. I will stand by the consequences. No portion of the work presented has been submitted in support of any application for any other degree or qualification of this or any other university or institute of learning.
_______________ M Usman Khan
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CERTIFICATION It is certified that the contents and form of the project entitled “Title of the Project” submitted by M Usman Khan (UW-07-MGT-MBA-009) has been found satisfactory for the requirements of
University of Wah, Wah Cantt For the award of the degree of
MASTER OF BUSINESS ADMINISTRATION (MBA) Supervisor: ______________________________ Ms. Course Co-coordinator:________________________________ Mr. Head of Department:__________________________________ Dr.
Dated:
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EXECUTIVE SUMMARY
We, The Power Track Int.’l (Pvt) Ltd. is energy leading trading company. On the scale of performance we are one of the large Importers, Stockiest and Manufacturer’s Representatives. We are exclusively representing Generators, Construction Machinery, Compressors and maintaining a complete range of spare parts with experience of more than three decades. Purpose of this project is to study the strategies which Power Track Int.’l (Pvt) Ltd. is doing in Pakistani market for its product Power Track Int.’l (Pvt) Ltd. International is a world renowned brand. It is a very well organized multinational company, which operates almost all over the world. In Pakistan It also has proved itself to be the No.1 excevators parts. Now days Power Track Int.’l (Pvt) Ltd. is recognized as Pakistanis National hydralic parts Power Track Int.’l (Pvt) Ltd. 's greatest rival. But Power Track Int.’l (Pvt) Ltd. with its aggressive marketing planning and quick diversification in creating and promoting new ideas and product packaging, is successfully maintaining is No.1 position in Pakistan. Power Track Int.’l (Pvt) Ltd. is operating in Pakistan, through its excevators and generators, all over Pakistan. These parts are Power Track Int.’l (Pvt) Ltd. 's strength.”
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TABLE OF CONTENTS PAGE NO
1- COMPANY’S INFORMATION.........................................................10 SELECTIVE DETAILS OF ORDERS \ SELECTIVE CLIENTELE IN PRIVATE SECTOR COMPANY’S MANAGEMENT
14 17 18 20
CUSTOMER CREDIT APPLICATION............................................................................24 ACCOUNTS AND FINANCE DEPARTMENT ASSIGNMENTS OBSERVATIONS REFERENCES
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1-
COMPANY’S INFORMATION
NAME OF THE FIRM (PVT) LTD.
:
POWER TRACK INTERNATIONAL
ESTABLISHED IN
:
1967
INCORPORATED IN
:
1992
INCORPORATED OFFICE
:
SUITE NO. 103 FIRST FLOOR, JAPAN PLAZA M. A. JINNAH ROAD, KARACHI 74400 PAKISTAN
MAIN OFFICE
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: C-11, BLOCK “ I “ NORTH NAZIMABAD, KARACHI 74700 PAKISTAN
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CONTACT DETAILS
TELEPHONE 0697
:
(021) 272 4407, 272 4687, 277 (021) 667 0877, 667 0878, 275
0088 FAX
:
(021) 667 0617 & 272 6206
URL ADDRESS
:
WWW.POWER-TRACK.COM
RAWALPINDI OFFICE
:
(051) 222 6102, 222 6202 & 222 6081
LAHORE OFFICE
:
(042) 770 9759 & 770 1333
MAIN STORE KARACHI
:
(021) 667 1315
SUB-STORE KARACHI
:
(021) 277 1151
SUB-STORE KARACHI-II
:
(021) 6341182 & 680 9017
STORE LAHORE
:
(042) 780 9578
STORE RAWALPINDI
:
(051) 589 5725
BANK INFORMATION
ASKARI BANK LIMITED Preedy Street Saddar Branch, Karachi – Pakistan
MYBANK LIMITED Plaza Quarter Branch MA Jinnah Road, Karachi - Pakistan
SUBSIDIARY COMPANIES Page 11 of 55
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PINDI AUTOS 121-122 AL-NOOR CHAMBERS, PREEDY STREET, KARACHI REGISTERED WITH GOVT. SEMI-GOVT., LEADING CONSTRUCTION COMPANIES INCLUDING DEFENCE PROCUREMENT CELL I.E. ARMY, NAVY AND AIRFORCE. PINDI AUTOS (SPARE PARTS SALES) SUPER MARKET, NEAR MASJID SABAH, SOHRAB GOTD, KARACHI SALES OF SPARE PARTS FOR CONSTRUCTION MACHINERY. ESPECIALLY, HITACHI, DAEWOO, SAMSUNG, HYUNDAI, KOMATSU & CATERPILLAR AS WELL AS IN MACHINERY RENTAL BUSINESS. BIN AHMED ENGINEERING INDUSTRY 13, 24 & 25, SECTOR C-V, K.E.P.Z. MEHRAN HIGHWAY, KARACHI IMPORT CONSTRUCTION MACHINERY. RECONDITION THEM PRIOR TO EXPORT IN TARIFF AREA AND ABROAD. ASSEMBLING THE GENERATING SET, AND EXPORT TO U.A.E. MARKET. AHMED BUKSH & SONS
C-11, BLOCK “I’, NORTH NAZIMABAD, KARACHI CORRESPONDENCE OFFICE FIRST FLOOR, JAPAN PLAZA, M. A. JINNAH ROAD, KARACHI CIVIL CONSTRUCTORS, APPROVED WITH PAKISTAN ENGINEERING CONCIL AND REGISTERED WITH GOVT. ATONOMY BODIES.
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Mission and Vision MISSION STATEMENT “To be the world's premier machines Parts Company focused on convenient parts. We seek to prodvide quality and geneine parts. And in everything we do, we strive for honesty, fairness and integrity.” VISION STATEMENT “To be the world's best genuine parts company”. Being the best means providing outstanding quality, service, cleanliness and value, so that their every customer is contented and happy with their products.” “To increase the value of their shareholder’s investment through sales growth, cost control and wise investment of resources.”
Progress & Achievments Page 13 of 55
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SELECTIVE DETAILS OF ORDERS
Following list of progress and achievement of company with lint last two year nature of work and amount in rupees and dollar is given below. NATURE OF WORK
AMOUNT
SUPPLY OF SPARES FOR BARRACUDA LFCT TO M/S. CAA CONTACT NO. CAA/2175/1/1881/SUP(PROC)
RS. 665,372.00 US$ 11090.00
SUPPLY OF EQUIPMENT OF BARRACUDA LFCT TO M/S. CAA CONTACT NO. CAA/2175/1/1831/SUP(PROC)
RS. 2,403,900.00 US$. 40,000.00
RENOVATION OF WATER BOWZERS NO. W-48N, W-49N AND W-15N TO M/S. CAA CONTACT NO. GED/IT/RA/A/203,204-06
RS. 1,705,000.00 US$. 28,416.00
RENOVATION OF FIRE CRUSH TENDER ROSEN BAUER OF M/S. CAA CONTACT NO. GED/IT/RA/A/301
RS. 690,000.00 US$. 11,500.00
SUPPLY OF SPARES FOR AFL SYSTEM TO M/S. CAA CONTACT NO. CAA/2175/1/1977/SUP(PROC)
RS. 760,795.00 US$. 12,680.00
SUPPLY OF SPARES ENGINE PARTS FOR BARRACUDA LFCT TO M/S. CAA CONTACT NO. CAA/2175/1/1972/SUP(PROC)
RS. 978,360.20 US$. 16,300.00
SUPPLY OF TOYOTA TOWING TRACTOR TO M/S. CAA CONTACT NO. CAA/2175/1/2437/SUP(PROC)
RS. 3,590,000.00 US$. 59,850.00
SUPPLY FOR SPARES FOR DORMAN LB6 DIESEL ENGINE FOR GRAB CRANE FITTED ON GHD AMINUDDIN TO KARACHI PORT TRUST CONT. NO. ST/GFP/249/T-99/2000/5092
RS. 1,867,638.00 US$. 31,130.00
COMPLETE RENOVATION OF CONVEYOR BELTS AT INTERNATIONAL DEPARTURE AT J.I.A.P FOR M/S. CAA CONTRACT R1-01
RS. 3,405,453.00 US$. 56,580.00
COMPLETE RENOVATION OF CONVEYOR BELTS AT DOMESTIC DEPARTURE AT J.I.A.P FOR M/S. CAA CONTRACT RD-01
RS. 3,473,893.00 US$. 57,900.00
SUPPLY OF HYDRAULIC TEST STAND FOR AIRCRAFT TO M/S. DP AIR CONT. NO. 423298/P-42
USD. 160,463.00
SUPPLY OF 06 UNITS OF GENERATING SETS OF OF 105 KVA OF 400 HZ TO M/S. DP AIR CONT. NO. 423351 / P-42
GBP. 106,080.00
SUPPLY & INSTALLATION OF FOLDED BELLOWS FOR PASSENGER BOARDING BRIDGES OF CAA CONTACT NO. CAA / 2175 / 1 / 2125 / SUP (PROC) REPEAT ORDER FOR SUPPLY & INSTALLATION OF FOLDED BELLOWS FOR PASSENGER BOARDING BRIDGES OF CAA CONTACT NO. CAA/2175/1/2125A/SUP(PROC)
RS. 3,301,200.00 US$. 55,000.00
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RS. 3,301,200.00 US $. 55,000.00
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LIST OF FEW WORKS EXECUTED WITH GOVERNMENT ORGINIZATION
NAME OF WORK
AMOUNT
REPAIRING / MAINTENANCE OF DUMP TRUCK ISUZU FTR OF CDGK CONT. NO. DDO/CM/E&M/08/03
RS. 267,550.00 US$. 4,460.00
REPAIRING / MAINTENANCE OF DUMP TRUCK ISUZU SUPER CDGK CONT. NO. DDO/CM/E&M/06/03
RS. 252,200.00 US$.4,200.00
COMPLETE ENGINE OVERHAULING OF DUMP TRUCK ISUZU FTR CDGK CONT. NO. DDO/CM/E&M/07/03
RS. 214,690.00 US $. 3,580.00
PROCUREMENT OF DIESEL GENERATOR SET MANUAL 100 KVA CAA CONTACT NO. CAA/2175/1/2175-A/SUP(PROC)
RS. 998,000.00 US$. 16,700.00
SUPPLY OF AIR COOLED COMPRESSORS TO M/S. SWAN ENGINEERING RAWALPINDICONT. NO. SE/PROC/CONT54/2003 SUPPLY OF SPARES FOR BARRACUDA LFCT ENGINE 8VF92TA SERIES TO M/S. CAA CONTACT NO. CAA/2175/1/2095/B/SUP(PROC) REPLACEMENT OF WEAKENED / WORN OUT COMPONENTS OF BELT NO. 05 INSTALLED AT ARRIVAL OF TERMINAL – III, J.I.A.P SUPPLY OF AIR COOLED COMPRESSORS TO M/S. SWAN ENGINEERING RAWALPINDI CONT. NO. SE/PROC/CONT58/2003
EURO. 408,526.00
RS. 707,568.00 US$. 11,800.00 RS. 3,022,561.00 US$. 50,400.00 EURO. 523,480.48
SUPPLY OF SPARES FOR GROUND POWER UNITS (HOBART) M/S. DP AIR CONT. NO. 423446/P-42
USD. 32,811.84
SUPPLY OF SPARES FOR GROUND POWER UNITS (HOBART) M/S. DP AIR CONT. NO. 423445/P-42
USD. 56,594.43
SUPPLY OF SPARES FOR GROUND POWER UNITS M/S. DP AIR CONT. NO. 423448/P-42
USD. 46,024.50
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LIST OF WORKS EXECUTED IN THE YEAR 2008-2006 NATURE OF WORK
AMOUNT
SUPPLY OF SPARES FOR AD GENERATING SETS M/S. DP AIR CONT. NO. 423487-A/P-42
RS. 443,212.11 US$. 7,400.00
SUPPLY OF SPARES FOR HYDRAULIC TEST STAND M/S. DP AIR CONT. NO. 423484/P-42
USD. 5,562.05
SUPPLY OF SPARES FOR GROUND POWER UNIT TO M/S. DP AIR COTNT. NO. 423502 / P-42
USD. 100,747.80
SUPPLY OF SPARES FOR AD GENERATING SETS TO M/S. DP AIR COTNT. NO. 423485 / P-42
USD. 10,157.88
SUPPLY OF SPARES FOR CAT GENERATING SETS TO M/S. DP AIR COTNT. NO. 423521 / P-42
USD. 13,554.10
SUPPLY OF SPARES FOR TEDINGTON SHUT DOWN TO M/S. DP NAVY CONT. NO. 320683 / P-32
GBP. 41,253.86
SUPPLY OF CRANK SHAFT FOR MARINE DIESEL ENGINE TO M/S. DP NAVY CONT. NO. 320798 / P-32
RS. 943,101.00 US$. 15,800.00
SUPPLY OF TOWING TRACTOR TO CAA CONT. NO. CAA/2175/1/2437/SUP-PROC
RS. 3,590,000.00 US$. 59,850.00
SUPPLY OF SELINOMETER TO M/S. DP NAVY CONT. NO. 320729 / P-32
GBP. 8,869.95
SUPPLY OF DDC LINER TO M/S. DP NAVY CONT. NO. 320767 / 1 / P-32
RS. 497,780.00 US$. 8,300.00
SUPPLY OF CHESTER TANK TO M/S. DP NAVY CONT. NO. 320569 / P-32
GBP. 37,805.20
RENOVATION OF DOMESTIC DEPARTURE BELT NOS. MD 01 AND MD 02 AT JIAP CAA
RS. 3,405,460.00 US$. 56,760.00
MAJOR OVERHAULING OF DOMESTIC DEPARTURE RACETRACK BELT NO. RD 01 INCLUDING REPLACEMENT OF IT’S WORN-OUT COMPONENTS.
RS. 3,473,900.00 US$. 57,900.00
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LIST OF CONTRACT EXECUTED 400HZ GENERATING SETS AND GROUND POWER UNITS NATURE OF WORK
AMOUNT
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
GROUND POWER UNIT
USD. 32,811.84
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
GROUND POWER UNIT
USD. 56,594.43
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
GROUND POWER UNIT
USD. 46,024.50
THE DIRECTOR PROCUREMENT (AIR) THE DIRECTORATE PROCUREMENT (AIR) PAK. SECTT. II, RAWALPINDI
400HZ GENERATING SETS (06 UNITS)
GBP. 106,080.00
REPRESENTATIVE LIST OF CONTRACT EXECUTED FOR 50HZ GENERATING SETS NAME OF CUSTOMER
CAPACITY
AMOUNT
DEWAN CORPORATION KARACHI
60KVA GENSET
RS. 690,000.00
S.H. ENTERPRISES, KARACHI
40KVA GENSET
RS. 550,000.00
NABI QASIM TEXTILE, KARACHI
150KVA GENSET
RS1,150,000.00
S.H. ENTERPRISES KARACHI
100KVA GENSET
RS. 900,000.00
C.A.A. KARACHI
100KVA GENSET
RS. 998,000.00
NABI QASIM TEXTILE KARACHI
300KVA GENSET
RS. 2,000,000.00
MARMONYX PVT. LTD. KARACHI
500KVA GENSET
RS. 3,200,000.00
MARMONYX PVT LTD. KARACHI
110KVA GENSET
RS. 900,000.00
ADAMJEE DIESEL LTD. KARACHI
300KVA GENSET
RS. 2,385,000.00
KARACHI HOSPITAL KARACHI
40KVA GENSET
RS. 650,000.00
\
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SELECTIVE CLIENTELE IN PRIVATE SECTOR KARACHI METROPOLITAN CORP. M. A. JINNAH ROAD, KARACHI ATTOCK CEMENT PAKISTAN LTD. 5TH FLOOR, P.N.S.C. BUILDING, M. T. KHAN ROAD, KARACHI M.IFTIKHAR & CO. PVT. LTD. TIPU SULTAN ROAD, OFF SHAHEED-E-MILLAT ROAD, KARACHI THATTA CEMENT CO. LTD. GHULAMULLAH ROAD, MAKLI – THATTA ABID MINING CO. JAPAN PLAZA, M. A. JINNAH ROAD, KARACHI
CHERAT CEMENT CO. LTD. MODERN MOTOR HOUSE, BEAUMONT ROAD, KARACHI AGRICULTURE DEPT. GOVT. OF PUNJAB, 21, DEVIS ROAD, LAHORE KARACHI DEVELOPMENT AUTHORITY CIVIC CENTRE, GULSHAN-E-IQBAL, KARACHI
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M. IFTIKHAR & COMPANY Pvt. LTD. TIPU SULTAN ROAD, OFF SHAHEED-E-MILLAT ROAD, KARACHI DEWANI CORPORATION NORTH KARACHI – KARACHI TEL: 690 9755
S. H. ENTERPRISES TARIQ ROAD – KARACHI TEL : 494 8130 MARINE GROUP OF INDUSTRIES I.I. CHUNDRIGAR ROADKARACHI TEL :241 7933 NABI QASIM INDUSTRIES I.I. CHUNDRIGAR ROAD KARACHI 263 3569
CREDIT AGRICOLE INDOSUEZ CLIFTON KARACHI TEL : 587 8697
S.K. FILLING STATION RASHID MINHAS ROAD KARACHI TEL : 498 1539
TARGET C.N.G STATION MAIN SHARAHE FAISAL KARACHI TEL :4596955
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IRRIGATION POWER AUTHORITY NEAR RITZ HOTEL, JAMSHORO, HYDERABAD
SAGHIR SONS TEXTILES KORANGI INDUSTRIAL AREA KARACHI TELL: 5057580
REFRENCE LIST OF FOREIGN FIRM GRANDMART LIMITED 96 BERKELEY AVENUE, CRANFORD, MIDDX., TW4 6LB LONDON - ENGLAND RAINER PHILIPPS INT’L TRADE GMBH BAUERNWEIDE 6, 21149 HAMBURG 92 – GERMANY
AL-SADA AUTO & HEAVY EQUIPMENT SPARE PARTS TRADING LLC P,O. BOX. 29487, OPP. SKYLINE COLLAGE SHARJAH U.A.E. GENTEC POWER SYSTEM P.O. BOX. 220, WEMBLEY, ENGLAND. INCOTEC INTERNATIONAL ( SUBSIDIARY OF FABSKUN ONTARIO INC )
2750, 14TH AVENUE, # 308, MARKHAM, ONTARIO CANADA L3R 0B6 TORONTO-CANADA
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COMPANY’S MANAGEMENT
CHIEF EXECUTIVE & MANAGING DIRECTOR
:
MR. SOHAIL AHMED
DIRECTORS
:
MRS. KANIZ FATIMA MRS. FARZANA S. AHMED
MANAGING STAFF MR. SOHAIL AHMED Mr. Iskander S. Malik
:
Director Business Dev. / Coordination
Mr. Nadeem Ahmed
:
General Manager (Parts Division)
Mr. S. M. Saqib Rizvi
: FIELD OPERATION
RECONCILI-ATION
General Manager (Marketing)
WING
Mr. Sohail Ahmed
:
General Manager (Finance)
Mr. Amir Rasheed
:
Manager (Accounts)
Mr. Mohammed Aqil
:
Manager (Administration)
Mr. Zulfiquar Ali
:
Manager (Parts Division)
Mr. Safder Hussain (Northern Region)
:
Manager Technical
Mr. Malik Itbar (Nothern Region)
:
Coordinator
Mr. Zahid Shah (Nothern Region - Civil)
:
Coordinator
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SYSTEM REVIEW WING
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CONSULTANT & ADVISORS
Mr. Kamran Ahmed Rabbani
:
M.B.A (U.S.A) Business Adviser
Muhammad Saleem & Company
:
Chartered Accountants B-1 Byculla Mansion, Shahrah-E- Liaquat,
Karachi Raza Siddiqui & Co.
:
Chartered Accountants Room No. 401, Amber Estate K.C.H.S.U. - Karachi
M/S. Najmi & Company
:
Tax Advisor 7-Saifee House Elender Road, Off I.I Chundrigar Road Karachi
M/S. Neel & Law Associates
:
Legal Advisor / Advocates 32 Sir Jahangir Kothari Building Denso Hall, Karachi
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Organization’s Departments
• Administrative department Mr. Mohammed Aqil is Administration of Power Track. He control all the activities of company in Head office as well as regional office Lahore and Rawalpindi. Following are the General rules and condition applicable on the all branch and head office as well. GENERAL RULES & CONDITION (APPLICABLE TO ALL BRANCHES AND HEAD OFFICE) Two lates are allowed in a month.(shall be counted after 10.30am.) third late shall be treated as “leave with half pay”. casual leave once in a month is allowed. second leave of the month shall be treated as “without pay” holiday before or after leave shall be treated as leave. (two days leave) WORKING ENVIRONMENT This is the responsibility of the working staff to maintain the discipline and avoid to disobedience or use of abusive language otherwise management has right to take disciplinary action entirely at their own discretion. OFFICE EQUIPMENT The staff is responsible for the maintenance of the equipment in his use. if there is any problem, it should be brought in writing with date and time to Mr. Bilal ahmed or Mr. Amir Rasheed immediately. Otherwise user shall be responsible. OFFICE DOCUMENTS No document is issued without proper reference number and date. It should indicate “file
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• Sale and marketing department Mr. S. M. Saqib Rizvi is General Manager (Marketing) of sale and marketing in PTIL. He control both Head branch and rawalpindi and Lahore branch as well. The Mr. Safder Hussain is rawalpindi branch manager of sale and marketing and Lahore branch is control by Mr. Zia. They are responsible for make Purchase order and Sale and Credit activities done in all branches. ADDITIONAL RESPONSIBLITIES OF SALE MANAGER : Sales and stock provide daily sales & expense details to h/o with copies of d/c, c/m, vouchers and day book through Mr. Akmal. All purchase requirement be reported to Mr. Nadeem by hand or e-mail [email protected] & Copy e-mail to [email protected] The credit form is fill by customer and send to Head office and then Head office decide credit limit and terms of credit with customers. The detail of credit form is given in next page.
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© © Copyright Copyright Envision Envision –– Smart Smart Business Business Solutions Solutions (4100883 (4100883 Canada Canada Inc.). Inc.). 2002. 2002. All All rights rights reserved. reserved. Protected Protected by by the the copyright copyright laws laws of of the the United United States States and and Canada DISTRIBUTE, PUBLISH, OFFER FOR SALE, LICENSE Canada and and by by international international treaties. treaties. IT IT IS IS ILLEGAL ILLEGAL AND AND STRICTLY STRICTLY PROHIBITED PROHIBITED TO TO DISTRIBUTE, PUBLISH, OFFER FOR SALE, LICENSE OR OR SUBLICENSE, SUBLICENSE, GIVE GIVE OR OR DISCLOSE DISCLOSE TO TO ANY ANY OTHER OTHER PARTY, PARTY, THIS THIS PRODUCT PRODUCT IN IN HARD HARD COPY COPY OR OR DIGITAL DIGITAL FORM. FORM. ALL ALL OFFENDERS OFFENDERS WILL WILL AUTOMATICALLY AUTOMATICALLY BE BE SUED SUED IN IN A A COURT COURT OF OF LAW. LAW.
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CUSTOMER CREDIT APPLICATION
Name:
NIC:
Address: City:
Province:
Mob:
Fax:
Postal:
Phone:
Email:
Delivery Address:
Bank Details Bank Name:
Bank Name:
Account #
Account #
Address:
Address:
Phone:
Phone:
Mob:
Mob:
Credit Details Settled due days:
Amount:
Credit limit:
Settled discount:
Reference: Name/Proprietor
NIC:
Full Address:
Mob:
Fax:
Email:
Bank detail
I hereby certify that the information contained herein is complete and accurate. This information has been furnished with the understanding that it is to be used to determine the amount and conditions of the credit to be extended. Furthermore, I hereby authorize the financial institutions listed in this credit application to release necessary information to the company for which credit is being applied for in order to verify the information contained herein.
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www.uw.edu.pk __________________________________________
Signature
______________________________________
Date
• Procurement department Mr. Nadeem Ahmed is General Manager of (Procurement department). He Manage all the supply of Karachi Lahore and rawalpindi branch. Mr. Hashim is Procurement manager of Generators parts. They contact with foreign companies (CHINA, KOREA, TAIWAN, ETC) and Take quotation and maintain supply. They coordinate with sale and marketing department and meet their demands. And they also contact with local companies for there supply business of general order supply. All branch provide special report design by software to related manager.
• Financial and account department Mr. Sohail Ahmed is General Manager (Finance) of Power Track international limited. All branch provide following details to Head of Accounts on daily and weekly basics. sales and stock is sole responsibility of the branch Incharge and will provide following details to head office: •
• • •
DAY CASH BOOK (MUST BE SENT VIA E-MAIL DAILY AS PER FORMAT) DAILY SALES DETAILS DAILY EXPENCE DETAILS COPIES OF DELIVERY CHALLAN ( WEEKLY BASIS ) COPIES OF CASH MEMO ( WEEKLY BASIS ) VOUCHERS ( WEEKLY BASIS )
through any courier service rawalpindi will dispatch weekly report on every Thursday and Lahore will dispatch on every Saturday. all purchase requirement be reported to Mr. Nadeem by courier, post or email to [email protected] & COPY E-MAIL TO [email protected] all issues related to software & accounts must be reported to Mr. Sohail khan. urgent matters via telephone (021) 6670877 & 78 and details must be sent via email on weekly basis to [email protected] all requirement of parts must be reported weekly by e-mail to [email protected] & copy e-mail to [email protected]
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Organization’s Product and services Diesel Generator Air Compressors
Construction Machinery Spare Parts Financing facility After Sales Service Service
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World renowned brand GenTec - England Diesel Generators coupled with: Cummins, Perkins, Volvo Penta, John Deere, & Lister Diesel Engines with Newage Stamford / Leroy Somer Alternators Imported from LMF AG – Austria High Pressure Piston compressors (Air / Water cooled) Process gas compressors. Oil free air compressors (Pet-bottle application). High speed balanced opposed compressors. Custom designed compressors.
Complete range of construction machinery i.e. bulldozers, Loaders, Excavator, Wheel Loaders, Cranes, Dump Trucks, Motor graders ETC. A large set up of spare parts division offers a wide range of spares at very competitive prices for Construction Machinery, Generator, Compressors etc As a part of our commitment to customer services we can arrange Financial/Leasing facility to alleviate your financial constraints. We have well established service department with the team of experienced & qualified technicians dedicated to their jobs & service at site available. Repair & maintenance of Power Generating sets. Trouble shooting Erection of individual Generating sets. Maintenance contract at very nominal charges
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2-
INTERNSHIP Accounts and finance Department
Accounts and finance department is a backend department at (power track pindiautos) that performs the following functions all base on the computerized accounting and management. The all working of accounts is done through software name Sage. The General Manager (Finance) of power track international is Mr. Sohail Ahmed and manger of Accounts is Mr. Amir Rasheed. The detail of Sage Sage include following bar A. The Task Bar The task bar view allows you to customize your sage line 50 desktop to list the core tasks that you use the most frequently. It is on left of screen. From view menu one can activate and deactivate. B. Title Bar The title bar shows the name of the window. Example (SAGE LINE 50 FINANCIAL CONTROLLER POWER TRACK) C. Menu Bar The Sage Line 50 menu bar contains nine separate menus each with its own set of options. i.
File
ii.
Edit
iii.
View
iv.
Modules
v.
Settings
vi.
Tools
vii.
Favorites
viii.
Window
ix.
Help
D. Toolbar The desktop toolbar is a series of buttons that activate the sage line 50 main options. You can change the position and appearance of your toolbar. For example, you can add a background bitmap of your choice to your toolbar. D
Control Menu
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The control menu box in the upper left corner of each window. It contain minimizes, maximize and close button. E
Status Bar The status bar show windows name and program date and working of your works.
The Modules of Sage line 50 financial:1. Customer Data of customer This module of software ware help in creating customer account with detail information like Name of customer and with full address, email fax and limit and Tax number. Record of transaction It also help to see the record of transaction to the customers with transaction number, types, date, ref, details and amounts.
Letter to customer: The software can create automatically letter to customer such as change of address . reminder of balances and transaction letter and email.
Reports: The company can generator report to customer such as summary of accounts, payment summary , discount summary etc.
2. Supplier Data of supplier This module of softwareware help in creating supplier account with detail information like Name of supplier and with full address, email fax and limit and Tax number. Record of transation It also help to see the record of transaction to the supplier with transaction number, types, date, ref, details and amounts.
Letter to supplier: The software can create automatically letter to supplier such as change of address . reminder of balances and transaction letter and email and order to supplier. Page 28 of 55
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Reports: The company can generator report to supplier such as summary of accounts, payment summary , discount summary , order summary etc.
3. Nominal Ledger Journal entry The nominal ledger modular contain journal entry options one can do direct journal entry from this option. A journal entry comprises a batch of individual debit and credit transactions. To transaction. Each line of journal entry table represents a single transaction, and there must be at least two transactions in the journal. Reverse entry If you have posted a journal entry incorrectly, you can use the reversals option to
remove the journal. You can then re-enter the journal correctly. For
example if you have posted a journal with the incorrect date, you can reverse the journal and then re-enter the information with the correct date.
Chart of account The chart of accounts is subdivided into category types. By default, the category types for the profit and loss report are sales. Purchases, direct expenses and overheads and for the balance sheet report they are fixed assets, currents assets, currents liabilities, long terms liabilities and capital and reserves. Each category type is subdivided into category accounts, each of which consists of a heading and a range of nominal accounts.
4.
Banks/Cash Accounts
Record supplier payment We can record supplier payment from this menu. We can record amount of discount and amount paid to supplier whether through bank or cash.
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Transaction number, date supplier description and check number should be give to fulfill the payments.
Record receipt from customer Same like supplier we can record receipt from customer and information required for this receipt date, amount and discount if any. cheque, or cash. Both kind of recording can be handle from this.
Banks reconciliation statement Work throught your bank statement one line at a time. Find the same transaction on screen and click the left mouse button to select it for reconciliation ( the selected line is highlighted. As you select each transaction, you will see that the reconcile balance on the bank reconciliation window changes automatically. This should match the balance shown by the bank statement (normally shown in the right hand column). If, as you work down the bank statement a transaction is shown that is not in Line 50 (i.e. bank charges or cash point withdrawals, etc.) you should record this transaction straight away. To record the transaction, use the adjustments button directly from the bank reconciliation window.
Transfer of payment This option provide transfer amount from bank to cash or cash to bank or bank to bank or petty cash account with proper transaction number and date. And report of transfer is also available.
Opening and closing of bank/cash accounts If you are creating a new record, Sage Line 50 includes a wizard to guide you through the process. To run the wizard, from the Bank Accounts window, choose the New button and follow the on-screen instructions. Alternatively click Record. In the A/C Ref box, enter a new reference number for your new account. Use the Tab key to move onto the next field. The record will display ‘New Bank Account’ alongside the A/C Ref box. Various account available such as cash account , bank accounts example askari commercial banks , petty cash etc.
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Produce Check automatically From the Bank Accounts window toolbar, click Cheques. The Print Cheques window appears displaying all remittances transaction types PI (Purchase Invoices), PC (Purchase Credit Notes) and PA (Purchase Payments on account) that have not been printed before and have blank references. The window also lists remittances for BP (Bank Payments), but only those where you have selected to print the cheque. If you want to keep a record of the cheques listed, click Print List.
5.
products
The following information regarding product can be recorded in the software: • • • • • • • • • • • • • • • • • •
Product Code Free Stock Item Type Allocated (Financial Controller only) Description On Order (Financial Controller only) Category Last Ord Qty (Financial Controller only) Location Last Ord Date (Financial Controller only) Weight Re-order Level (Accountant Plus and Financial Controller only) Com. Code Re-order Qty (Accountant Plus and Financial Controller only) Department Last Cost Price (Standard) Nominal Code Last Cost Price (Discounted)
In the Task Manager you can view the items that are out of stock, below the reorder level, on order and allocated. This provides you with a quick efficient way of viewing your stock levels, enabling you to make decisions on the items you need to reorder and the items you are waiting for
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6.
Invoicing
Invoicing lets the software user the following information entrance in the computer: * What is a Product Invoice? * How to Add or Edit your Product Invoice Details * How to Enter Product Item Lines on your Invoice * How to Add a Message to a Product Invoice * How to View the Discount Breakdown Box * How to Add Order Details to a Product Invoice * How to Add Footer Details to a Product Invoice * How to Add Payment Details to a Product Invoice * How to Print the Product Invoice Straight Away * How to Update Your Ledger
7.
Purchase order processing POP
In the boxes provided, enter the details for your purchase order. 1 Enter the product items you wish to purchase, one line of the purchase order per product. 2. Continue to enter all the lines of product items on the purchase order that you require. If you wish to copy or duplicate any of the rows or cells from an existing line of the purchase order, use the options from the Edit menu. You have now completed the header details for your purchase order. The following information appears for you automatically: 3.complete your purchase order, you may also want to enter:
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Delivery details; and Carriarge corsts and settlement terms. If you do not wish to add any order or footer details to this purchase order, you have the choice of sending it directly to a printer, recording the delivery of it straight away or saving it for later printing, putting on order and recording delIf you use this purchase order regularly, why not save it as a ‘skeleton’ purchase order, so you can re-create it quickly and easily. To save the order for later printing, putting on order and recording delivery in a ‘batch’, click Save, or to print the purchase order straight away click Print.
8.
Financials
The Financials window lists the transactions that you have entered. The transactions are listed in the order that you entered them and are given a sequential number automatically, e.g. 1,2,3,4 etc. Every single transaction you have entered will be shown unless you have used the Sage Line 50 Clear Audit Trail option, which clears down transactions that have been fully paid and reconciled • • • • • • • •
To Run a Financial Report To Print an Audit Trail Report To Run the Balance Sheet Report To Run the Budget Report To Run the Prior Year Report To Run the Profit and Loss Report To Run the Trial Balance Report To Run the Quick Ratio Report
9.
Reports
Report The Report Designer includes a special Report Variable List option that controls how variables are sorted and how they filter the data they receive. The Report Designer also includes the ability to insert graphic objects, such as rectangles and lines.Layouts
Stationery Layouts Stationery Layout files are designed to handle your every day stationery that is printed onto pre-printed forms, such as 3-part invoice paper. They include special layout template files to give you a background image of the Sage stationery that they will be printed on.
Letter Layouts Sage Line 50’s Report Designer gives you standard customer and supplier letters which you can use at any time. As you get more familiar with the Report Designer,
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you may wish to create your own standard letters that incorporate data from the boxes in your customer or supplier records.
Label Layouts The Label Report Designer includes the options to insert graphic objects. Also included is a special tab in the Page Set-up option that lets you choose the specific type of label stationery you want to use.
10. Sage MIS Sage MIS (Management Information System) allows you to see the key features of your company data as a series of tables and graphs. When you first open the Sage MIS option, the 'My Business Page' appears. this displays a set of default company reports. You can change the reports that you want to display on this page from the Settings option. The Management Information option contains the following reports: • • • • • • • • • • • • • • • • • •
Sales Reports Sales by Product (Accountant Plus and Financial Controller only) Sales by Product Category (Accountant Plus and Financial Controller only) Product Sales Chart (Monthly) (Accountant Plus and Financial Controller only) All Product Sales by Customer (Accountant Plus and Financial Controller only) All Sales by Customer Type (Accountant Plus and Financial Controller only) Customer Sales Chart (Monthly) Top Customers Product Reports Product Availability (Accountant Plus and Financial Controller only) Product Profit Margin (Accountant Plus and Financial Controller only) Slow Moving Products (Accountant Plus and Financial Controller only) Credit Control Reports Customer Account Balances Customer Aged Balances Customerr Account Balances Supplier Aged Balances Finance Report
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• •
Financial Highlights Profit and Loss
Assignments I have learned to use the following modules of the sage software that is under the use in the company:
1. Customers management: This module lets the software user to actively and continuously manage the customers in a convenient way. Managing and getting information about customers’ credit account, future creditability, the payment period/limit of the customers’ payment date, payment due date and actual payment made by the customers are the main concerned features of this module.
2. Suppliers management: Managing all information about suppliers and to conveniently manage different suppliers data is the benefit provided by this module. Having suppliers’ addresses, telephone number, website, amount payable to suppliers, amount paid in advance, amount already paid, credit limit, account status, date material received from the supplier are some of the key features of this module.
3. Nominal chart of Account We can create any new nominal account codes, use the Nominal Ledger Chart of Accounts option to make sure these codes appear in the correct categories on your financial reports.
4. Bank ♣ From the Bank Accounts window, select the bank account you wish to edit from the list displayed (or, if you are adding a new account, accept the default selection), and then click Record. The Bank Record window appears. Note: If you are creating a new record, Sage Line 50 includes a wizard to guide you through the process. To run the wizard, from the Bank Accounts window, choose the New button and follow the on-screen instructions. Alternatively click Record. In the A/C Ref box, enter a new reference number for your new account. Use the Tab key to move onto the next field. The record will display ‘New Bank Account’ alongside the A/C Ref box. ♣ To create a new account, click Discard. This clears any data shown. ♣ In the boxes provided, enter the following bank account details: Page 35 of 55
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To add further details to your bank account, choose the tab you require from the Bank Record window. ♣ To save the bank record, click Save. To clear the details you have entered and start again without saving, click Discard. ♣ To exit the Bank Record window, click Close.
5. Products The following information regarding product can be recorded in the software:
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Product Code Free Stock Item Type Allocated (Financial Controller only) Description On Order (Financial Controller only) Category Last Ord Qty (Financial Controller only) Location Last Ord Date (Financial Controller only) Weight Re-order Level (Accountant Plus and Financial Controller only) Com. Code Re-order Qty (Accountant Plus and Financial Controller only) Department Last Cost Price (Standard) Nominal Code Last Cost Price (Discounted)
6. Invoicing Invoicing lets the software user the following information entrance in the computer:
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What is a Product Invoice? How to Add or Edit your Product Invoice Details How to Enter Product Item Lines on your Invoice How to Add a Message to a Product Invoice How to View the Discount Breakdown Box How to Add Order Details to a Product Invoice How to Add Footer Details to a Product Invoice How to Add Payment Details to a Product Invoice How to Print the Product Invoice Straight Away How to Update Your Ledger
7. POP In the boxes provided, enter the details for your purchase order. 1 Enter the product items you wish to purchase, one line of the purchase order per product. 2. Continue to enter all the lines of product items on the purchase order that you require. If you wish to copy or duplicate any of the rows or cells from an existing line of the purchase order, use the options from the Edit menu. You have now completed the header details for your purchase order. The following information appears for you automatically: 3. To complete your purchase order, you may also want to enter: Delivery details; and Carriarge corsts and settlement terms. If you do not wish to add any order or footer details to this purchase order, you have the choice of sending it directly to a printer, recording the delivery of it straight away or saving it for later printing, putting on order and recording delivery.
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If you use this purchase order regularly, why not save it as a ‘skeleton’ purchase order, so you can re-create it quickly and easily. To save the order for later printing, putting on order and recording delivery in a ‘batch’, click Save, or to print the purchase order straight away click Print.
8. Financials The Financials window lists the transactions that you have entered. The transactions are listed in the order that you entered them and are given a sequential number automatically, e.g. 1,2,3,4 etc. Every single transaction you have entered will be shown unless you have used the Sage Line 50 Clear Audit Trail option, which clears down transactions that have been fully paid and reconcile
9. Day book: I daily maintain day book the format of day book is given below and I send daily day book to head Office Karachi
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Dat e:
1/1/2009
DAY BOOK SHEET RECEIPT
Date 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009 10/1/2009
Particul ars
v .
PAYMENT
Ca sh
ASK (KAR )
P/ Ca sh
0
0
0
JV
Particulars
V.
Ca sh
AS K
0
0
P/Cash
O/B
Total Balance C/F
0
Total
0
Power Track financial analysis Common Size Analysis (Vertical and Horizontal)
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Horizontal Analysis
Vertical Analysis Liabilities and Owner Equity Issued, Subscribed and paid-up capital Capital reserves Unappropriate profit Non-Current Liabilities Long-term finance Deferred Liabilities Liabilities against subject to finance lease
2008
2007
2008/2007
6%
7.3%
150%
51.8
42.5
220
8.7
14.9
110
66.5
64.7
8.6
0
4.7
8.1
.0073
.09
0 100 10
Current Liabilities: Current portion of long-term liabilities
.044
13.3
0.6
13.8
3.8
Finance under mark up agreement
680
0.8
0
Derivatives
5.3
9.3
103
Credit and other liabilities
0.2
0.8
32
33.5
35.3
100
100.
0
Provision for taxation
Assets
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2008
2007
2008/2007
Property, Plant and Equipment
25.8%
45.4%
102%
0.05
0.01
80
Investment property
0.1
0.2
103
Asset subject to finance lease
0.1
0.2
70
28.1
5.1
990
6
10.7
100
Long Term loans
0.1
0.1
280
Retirement benefits
0.5
0.8
120
3.5
5.9
110
9.8
16.9
100
6.8
9.9
120
0
0.1
0
1.7
2.4
130
17.4
2.2
1390
44.10
51.62
100.0
100.00
Intangible Assets
Capital work in process Investment
Current Assets Store and Spaces. Stock in trade. Trade Debt. Investments Loans advances and receivables Cash and Bank Balance.
It is clear from the horizontal analysis that there is an increase in overall assets and liabilities and owner equity figure. The retained earning and long-term liabilities has increased and the capital reserves and issued shares remained the same. The increase in retained earning and long-term debt shows that the company wants to invest more in the business this year. He inventory has decreased and the receivables have also decreased that shows company’s efficiency in covering the receivables and selling the stock. Profit and Loss Accounts: Page 42 of 55
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Horizontal Analysis
Vertical Analysis 2008
2007
2008/2007
100.0%
100.0%
100%
Net Sales and Commission Income
100
100
130.6
Cost of Sales
80.9
78.1
135.4
Gross Profit
19.1
21.9
113.3
Selling and Distribution Expenses
2.8
2.9
117.9
Administration and General Expenses
4.9
5.8
100.7
Financial cost
2.6
2.3
122.6
Other Operation Charges
1.3
1.4
133.1
Other Operating Income
2.6
1.4
176.7
Investment income
8.6
9
130.5
18.7
19.9
128.3
4.4
3.8
140.8
14.3
16.1
124.8
Turnover
Profit before Taxation Taxation Profit after Taxation
It is clear that the sales of the company have increased than the previous year that may be due to decrease in sales discounts and commission. Operating income has also increased showing increased efficiency in operations and reduced operation costs. The other income has played a significant role in 2007. It may be due to gain on sale of some asset or unexpected gain. The amount of tax has increased in 2008. All these factors have reduced the increased operating income effect on net sales and net sales have reduced.
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Ratio analysis: Operating ratios: Days Sales in Receivables = Gross Receivables/(NetSales/365) 2008=39 2007=40 The days receivable indicate the length of the time that has been outstanding at the end of the year. Packages ltd have days sale of receivable of 39 days in 2008 and 40 Days in 2007 which indicates that packages ltd converted its sale into net income quickly in 2008 then in 2007. This may be changed due to seasonal sale or change in sale for any other reason. To remove this fact we take the gross receivables. Account Receivable Turnover = Net Sales/ Average Gross Receivables 2008=9 2007=9.33 Account receivable turnover indicate the liquidity of the receivables. This shows how easily company can liquidate its receivables. Packages ltd has liquidity of 9 times in 2008 and 9.33 Times in 2007. Account receivable also change due to the change in sale for different reason like seasonal fact. Companies can use the sale for different moths to overstate or understate the liquidity of receivable, but account receivable turnover use the average of gross sale. Liquidity of receivable for the companies varies according to nature of the business of that company.
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A/C Receivable Turnover in Days = Average Gross Receivables/(Net Sales/365) 2008=73 Days Sales in Inventory = Ending Inventory / (Cost of Goods Sold/365) 2008=73 days 2007=85 days The day’s sales in inventory estimate the number of days that it will take to sell the current inventory. Due to different reason estimate may be vary. The cost of goods sold figure is based last year’s sales, same divided by the number of days in a year. Ending inventory may also differ due to the by using different methods for inventory. The packages ltd has day’s sales in inventory 73 days in 2008 and 85 days in 2007.
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Inventory Turnover = Cost of Goods Sold / Average Inventory 2008=5.13 2007=4.83 In inventory turnover show the time, in which it will convert, the current inventory into sales. For inventory turnover in days we use average inventory to eliminate the change variation due to the change of sale. Packages have suitable inventory turnover. Inventory Turnover in Days = Average Inventory / (Cost of Good Sold/365) 2008=71 days 2007=76 days
Inventory turnover in days is for the estimation of the number of days that it will take to sell the current inventory. Formula is same as of day’s sales in inventory. But in inventory turnover in days we Operating Cycle = Accounts Receivable Turn Over in Days+ Inventory Turn-over In days. use average inventory. 2008
2007
73 Days
88 Days
Solution: Operating cycle represent the period of acquisition of goods and conversion of the good
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into cash. It is higher for the companies like Packages ltd. Because the company purchase raw material converts it in to product then it sells it to whole seller. All process increase the operating cycle. Working Capital = Current Assets – Current Liabilities 2008=2222907 2007=675932
Working capital of a business indicates of the short run solvency of the business. This show how easily firm can pay the short-term loans. Current Ratio = Current Assets / Current Liabilities 2008=2 2007=1.4
Current ratio also determines the short-term debt paying ability of the firm. Its ability is increased in 2008 as compare to 2007 because ratio is increased. Quick Ratio = (Cash + Account Receivables) Current Liabilities. 2008=1.20 2007=0.45 Acid test ratio includes the only most liquid items of the current assets. Acid test ratio may decrease from 1. Packages ltd is manufacturing unit. For such like company acid test ratio must be Page 47 of 55
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round about the 1. But Packages ltd has acid test ratio 1.20 in 2008 and 0.45 in 2007 although it increased in 2008 but enough. Means Packages can easily meet all its current liability with its most liquid asset. It should manage through the sale of inventories. Cash Ratio = (Cash equivalents + Marketable Securities) / Current Liabilities 2008=0.86 2007=0.08
Cash receivable indicates include the only the cash in hand. Packages ltd have low cash ratio. Packages ltd has most of its current assets in inventory and Net receivables. Packages ltd have very low amount in hand as compare to its current liability.
Sales to Working Capital = Sales / Average Working Capital
2008=3.91
2007=8.86
Sales to working capital give an indication of the turnover in working capital per year. A low working capital indicates an unprofitable use of working capital.
Debt Ratio = Total Liabilities / Share Holder Equity
2008=1.50
2007=1.54
Debt to Tangible Net Worth = Total Liabilities / (Share Holder Equity – Intangible Assets)
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2008=1.50
2007=1.55
Net Profit Margin = (Net Income Before Minority Share of Earnings and . Nonrecurring Items) Net Sales
2008=0.14
2007=0.16
This ratio measures the profitability of the company. This measures of net income rupees, generated by the each rupee. The Packages ltd have good profitability ratio.
Total Asset Turnover = Net Sales / Average Total Assets
2008=0.39
2007=0.36
Total assets turnover indicates the ability of the firm to generate sale using its assets. The Packages ltd has total asset turnover 0.39 in 2008 and 0.36 in 2007.
Return on Assets = ( Net Income Before Minority Share of Earnings and Nonrecurring Items)
Average Total Assets
2008=0.11
Return on assets measure the firm’s ability to utilize its assets to create profits by comparing with the assets that generate the profit. Packages ltd has return on assets 0.11 in 2008 .
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Operating Income Margin = Operating Income / Net Sales
2008=0.13
2007=. 0134
2008
2.242
2007 Sales to Fixed Assets = Net Sales / (Average Net Fixed Assets “Exclude Construction in Progress”) 2.618 2008=0.64
2007=0.60 Solution: Sale to fixed assets measures the firm’s ability to make productive use of its property, plant, and equipment by generating sales Rupees.
Gross Profit Margin = Gross Profit / Net Sales
2008=0.19
2007=0.22
Gross profit margin tells us about the control on the cost of goods sold. Packages ltd has gross profit margin 19% in 2008 and 22% in 2007. It means company’s gross profit margin is decreases as compare to last fiscal year. This shows the good control on the cost of goods sold. Gross profit margin predict about the profitability of the company.
Degree of Financial Leverage = EBIT / EBT
2008=0.68
2007=0.66
Basic Earnings per Common Share = (Income – Preferred Dividend)/ . (Weighted Average Number of Common Shares Outstanding)
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2008=16.25
2007=19.68
------------------------------------------------------------------------------------------------------------
Book Value per Share = (Total Stock Holder Equity – Preferred Stock) / No. of Common Shares
2008=0.11
2007=0.09
------------------------------------------------------------------------------------------------------------
Asset Turnover = Net Sales / Average Assets
2008=0.70
2007=1.06
Return on Assets = Operating Income / Average Assets
2008=.04
Cash flow Analysis
Operating cash floe to current maturity of long term debt and current notes payable = (operating cash flow)/current maturity of LT debt and N/p
2008=174
2007=0.91
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Operating cash flow to total debt=operating cash flow/total debt 2008=1.75
2007=1.23
Operating cash flow per share=operating cashflow-p.dividend/common share
2008=1.20
2007=0.45
Learning:From learning point of view this experience is very useful for me. I gain a lot from this practice. During this session I have work Accounting software sage, which is useful for me in my Paratical life. It enhances my knowledge in especially in accounting and finance. So my MBA degree in finance got more worth. From this working I have learn many other accounting software quick book and Peachtree. I have work on all module of software such as customer, supplier , banks , nominal, report and MIS. I maintain manual account as well so I got decent knowledge related manual accounts maintains. From learning point of view it put positive impact on my degree.
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Observations
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3- Conclusions:
Organization is working very well since past 30 years and the software usage in managing proper account has increased the working efficiency and effective data handling. I have been working in this company since last 3 years and I am confident that I have learned much by working in this company. Handling of accounts, their proper management is a special experience I gained in parallel with having the know-how of running the business properly with creating fruitful results. I can show my learning in a practical way by running my own successful business with the hope of a bright future and the better financial results.
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REFERENCES
•
•
Web source: www.power-track.com Annual reports of power Track
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