Acknowledgement All the praise is for ALLAH, the most merciful and beneficent, who blessed me with the

knowledge, gave the courage and allowed me to accomplish this task. May His Mercy and Peace Be Upon all His messengers including my Mild tempered Lord, the Sovereign of Medina, who brought the last and final message from Him to a mankind.

Executive Summary

Internship was my first step in practical life, through which I learnt a lot and it has aided me in being well equipped with valuable experience that would help me once I enter the professional life after the completion of my studies. Internship offered to me was of 4 weeks in finance department which was later extended to 6 weeks so I can complete my project of budgeting reconciliation. During the month of Aug and Sep 2010, I worked in Warid Telecom as an internee. My association with this company was being a part of the Finance Department. It was a great experience for me and it helped me in realizing where my potential lies. What I learnt at Warid Telecom over the weeks was how to get along with the people that I have to work with everyday, building confidence and improving my skills. I tried to remain to the point, in writing the report. Brief history, management, organizational structure of Warid Telecom and my work at EFU Building, Head Office Jail road Lahore. Suggestions for improvement/Recommendations are also given in it. Moreover, particularly being a student of Finance & Accounts it is necessary for me to get practical knowledge of the managerial & financial activities of the organization. So I have tried my best to learn a lot about financial activities. I have made all possible efforts to summaries the broad history and working of the organization. This work is a collection of my observations and experience during the internship period and after Warid, this internship has also prepared me for my future career in Finance so this internship has helped me a great deal. The experience has taught me responsibility, teamwork and how to handle problems occurring. Even though the nature of work was quite basic as an internee, nevertheless I got to see what practical life is. This internship overall has been a great experience. This report gives a profile of Warid Telecom and an insight into the Finance department where I was assigned to work. This report also reflects my learning and experiences at Warid Telecom along with my responsibilities and the tasks that I performed. Last part of the report consists of some recommendations and suggestions that I

have given.
History of Business:

Cellular mobile Telecommunication services were introduced in Pakistan in 1990.six operators currently provides this service and their subscriber base as of December 2010. Paktel is regarded as the Founder of the Mobile Industry in Pakistan. Paktel was granted a license in 1990 to operate a cellular system across Pakistan and has improved its network capacity from time to time.
Introduction to Business

Warid Telecom launched in Pakistan on 23rd May 2005 but its pre launch operations started working six months before the launch this shows the planning masters took enough time studying Pakistans Market and is well equipped to serve in the field of service based cellular industries in Pakistan .
Nature of Business:

Warid Telecom is a private limited registered company, having registered trademark. The total investment is debt -equity based with the ratio of 40:60. Means the 40% of the total investment is loan based and the other 60 % is equity based. The company have license to sell MOBI E GSM connection and provide of all kinds of mobile connection services to run business.
About Warid:

Warid Telecom is a joint venture between Abu Dhabi Group & SingTel Group. Abu Dhabi Group entered into a strategic alliance with Singapore Telecom. Subsequent to this transaction in July 2007, Telecom giant SingTel acquired 30% percent equity stake in Warid Telecom, Pakistan, for $758 million. This partnership is part of a strategy to support Warid Telecom s continued growth and to enhance its market position. Abu Dhabi Group, one of the largest business groups in the Middle East and the single largest foreign investor in Pakistan. It has diversified business interests, offering strong financial resources and extensive management expertise that result in commercial success for several institutions. Abu Dhabi Group: Warid Telecom takes pride in being backed by the Abu Dhabi Group, one of the largest business groups in the Middle East and the single largest foreign investor in Pakistan. It has diversified business interests, offering strong financial resources and extensive management expertise that result in commercial success for several institutions.

The Abu Dhabi group's major investments are in the following sectors: y Oil and gas exploration y Banking and financial services y Automotive y Hospitality services y Property development y Telecommunications

Warid Mission statement:

Warid Telecom's stated mission is to be the leader in innovation and services

Company Vision

To become the leader in national communications arena with a strong international to Presence. To be the national communication provider with a strong International presence.
Core Values Honesty: Communicating Truthfully Integrity: Our Pride Compassion: We Listen, We Care, and We feel Fairness: Our Pledge to practice Promise Keeping: We Promise, We deliver Respect: Respect that we owe, care, what we gain Organizational Behavior

Warid telecom is a commercial organization and only profit is not its objective. Warid telecom is working as a private company with the direct foreign investment.
Warid telecom is a large organization having a large number of employees middle level, lower level and non managerial level. Policies:

Warid Telecom believes in working with strategic partners and employees for long term relationships. As a consequence of the above Warid Telecom is looking for the following to deliver its vision: Strategic vendors and partners to assist in rolling out these services in a timely and efficient manner with a focus on turnkey solutions and premium propositions. Strong partners to assist in launching these services and creating effective sales & marketing/business development opportunities for all the operationally and financially gain. Consultants and experts to help deliver the vision. Well rounded employees who wish to become part of this adventure. Financial Objectives: The basic goal of any firm is to earn money or generate profits on its investment. Wari Telecom has clear strategies to maximize profits by selling more. Company is working well according to its plans and strategies and has been very successful to achieve all its financial goals. Its expanding day by day and the financial status of

the company is improving constantly. Warid Telecom, had acquired over1350, 000 customers since the network went live on 23 May. The GSM/GPRS network was built from scratch, starting on 23 October 004, and at launch covered 28 cities, Warid is attracting an average of over 10,000 new customers daily. Companys financial objective is to increase profit by using the selling technique of more selling to maximize profit. The company not only wants all the financial benefits but its wants to serve people and by charging less. The more the people get use to of that, the more profit could be earn by the company. Short Term Objectives: As the company is new the short-term objectives are as follows: 1. Improve quality 2. Satisfy customers 3. Increase outlets 4. Provide all the advertised features 5. Work according to the strategies to achieve goals (SHORT TERM) Long Term Objectives: Companys long-term objectives are as follows: 1. Work with Government to cut prices and provide better quality 2. Control inflation in the country 3. Set standards for the market and involve Government in it 4. Network in whole Pakistan 5. To achieve all the financial benefits by serving people 6. Work according to the strategies to achieve goals (LONG TERM)

Management Team:

Mr. Muneer Farooqui Chief Executive Officer Mr. Muneer Farooqui has served as CEO of Warid Telecom International limited, Bangladesh for over four years. In view of his dynamic work experience in Telecom secotr and proven leadership in various capacities where his last assignment was CEO of Warid Telecom, Bangladesh, he has been assigned to undertake hi s responsibilities as CEO of Warid Telecom (pvt) limited, Pakistan, to optimize and lift the business performance of the company from its current level and ensure a potential niche for the company in the local Telecom industry.

Mr. Tariq Gulzar Chief Financial Officer Mr. Tariq Gulzar brings with him a combined professional and industry background gained from over 15 years of experience in assurance, internal audit, accounting, risk management and general consulting in Telecom and media industries. Mr. Gulzar is a fellow chartered accountant (Pakistan), a certified public accountant (Colorado, SA) and a certified Internal Auditor (New York, SA).

Mr. Shahza Rauf

Chief Strategy & Operations Officer

Mr. Shahzad Rauf joined Warid Telecom in March 2005. Prior to joining the

company, Mr. Rauf was a founder and CEO of WebLight Productions Inc. providing B2B e -commerce supply chain management solutions for the food industry. He also has over 10 year experience of finance and information technology departments of public sectors in USA.

Mr. Muhamma Irfan Chau hry

Chief Technical Officer

Mr. Irfan joined Warid Telecom in November 2004. He has got 15 years of local and international cellular experience gained by working in operations, projects, planning, performance and services departments of multinational operators and vendor. Before joining Warid Telecom, he has worked with Ericsson, Cingular Wireless USA and Paktel. He is an Engineering University Lahore graduate.

Affinity Partners

Warid is one of the world's largest mobile operators, with over 18 million subscribers in Pakistan alone and millions more to come. We offer cutting edge products like Blackberry, and innovative services like Caller Tunes, 123 FREE, and enterprise solution packages. More importantly to you, our great range of price plans and special offers attracts thousands of new customers everyday. We already have under mentioned companies as our proud affinity partners.

Organizational Structure

ORGANIZATIONAL DEPARTMENTALIZATION
Warid Telecom (Pvt).Ltd head office is in EFU House on Jail road, Lahore. Warid has the maximum number of Sales and customer Service Centers countrywide, backed by two state of art Contact Centers of international standards that are equipped with the right facilities to ensure real-time online ser vices. T heir highly trained and well-groomed team of Customer Service Executives provides round the clock support. Warid has setup corporate lounges, with a customer -friendly environment to provide personalized care to our corporate clients. Furthermore, an extensive network of franchises, kiosks and mobile units ensure easy and convenient accessibility. Different division, departments and functionaries working in head office are: 1. Finance 2. Human Resources 3. Marketing 4. Sales & Customer services 5. Administration 6. Products & Services 7. Procurement & Logistics 8. Legal Affairs 9. Engineering & Information Technology 10. Audit & Risk Services 11. Quality Assurance 12. International Business 13. Public Relations 14. Operations and Project Management 15. Govt. Relations
Finance Department

Finance department of Warid Telecom is accountable for all the issues related to financial transactions no matter it is managerial accounting or financial accounting. Finance department of Warid Telecom deals with issues related to Financial Accounting, Fixed Assets, Accounts Payable, Tax Returns, General ledger maintenance and treasury control. So, finance department is divided in two divisions according to matters dealt.

Financial Accounting Division

Financial accounting means reporting of the financial position and performance of a firm through financial statements issued to external users on a periodic basis. Financial accounting divisions of Warid Telecom consist following sections.

Operations Section
Financial accounting related to operations. Operations include the financial issues related to franchises operations.

Fixed Assets Section

Fixed assets division of Warid Telecom looks after the fixed assets of Warid Telecom. Fixed assets are very important for every organization because fixed assets tell the worth of the company.

Accounts Payable Section

Accounts payable division of Warid Telecom looks after the liabilities to be paid. Account payable is very important for better credit rating of a company.

General Ledger Section

General ledger division is responsible for developing T-accounts which specify detail of each account separately.

Treasury Control Section

Treasury control section looks after the finances, controls the budgets and investments made by country from treasure. It includes all maters related to Trade finance and import functions.

MANAGERIAL ACC OUNTING

The process of identifying, measuring, analyzing, interpreting, and communicating information for the pursuit of an organization's goals. The key difference between managerial and financial accounting is that managerial accounting information is aimed at helping managers within the organization make decisions. In contrast, financial accounting is aimed at providing information to parties outside the organization. In Warid Telecom this division deals with the accounts management and co-ordinates with the financial accounting division.

Warid in Telecom Market

Market Overview of Mobile Companies in Pakistan The Pakistan market has nearly million subscribers as of Nov2009 (PTA data). The growth slowed down in 2009 but has picked up again gradually. See more about the recent competition among mobile network providers.

For those interested in the change from last year, the chart below shows the market share of mobile phone companies of Pakistan, as of September 2008. Compared with July, the market share changed little. Mobilink lost % share (35%), picked up by Zong which is cash rich and has a ready-to-invest attitude. he ARPU in Pakistan remains low and is not projected to go up. The year 2008 was marked by changes in SIM sales and registration process, enforced by PTA, the government regulator.

Warid Offerings

Warid puts a great focus on development of its products according to the customer demand and satisfaction. In recent year Warid has introduced Glow and made a greater impact in the market. Warid Telecom offers three main products that are: 1. Zem Prepaid 2. Warid Postpaid 3. Glow

Zem Prepaid
Zem prepaid is a service for which customer has to pay in Advance for which he/she is going to use. Enjoy a prepaid convenience that is backed up by the promise of service, service & more service. Not only it is simple to use but it also offers a host of revolutionary products & features that will forever change the way you communicate. Zem prepaid offers two major types of services.
y y Voice Based Text based

Voice based Services

Voice related services include communication services which are associated with the transfer of voice. When Warid started its services there were two leading GSM cellular companies, one was Mobilink and the other was Ufone. Mobilink was the main market leader and Ufone was the successor in Pakistan. Then the main challenge for Warid was to attract customer towards it with the help of such services that will be exciting and attracting enough to move customers from the competitors.

Text Based Services

Zem also provide many text packages so that you can text on any network with the cheapest rates any time any where. Also multi media messages (MMS) on the cheaper rates then any other network. Warid introduced various call packages with cheaper rates for each type of customer according to there need. So every customer can switch to calling plan that suits him the best.

Calling plans:
Warid had introduced three calling plans Zem 1 second, Zem LCR 30 second, Zem 60 Sec. Each package is offering different call rates and sms plans.

Warid Post Paid

Warid post paid connection is associated with Royalty. Post paid subscription is also called a billing connection. In this type of a connection, you can avail the services of cellular connection first and pay the usage at the end of the month. On consistent and regular payment and high usage pattern you could win yourself the opportunity to enjoy exclusive loyalty and frequent user facility provided by Warid Telecom. Keeping in mind our brand philosophy, Warid postpaid is a name that depicts class and sophistication. Warid postpaid that defines commitment and satisfaction to the customers. Like zem prepaid Warid postpaid is also offering both voice related services and text based services. Calling Plans Warid postpaid when launch was called Zahi Postpaid. Zahi means royalty. And it was offering 5 calling plans to the mobile users. These plans were after re launch, zahi postpaid was replaced by its generic name that was Warid postpaid. Warid also revised tariffs for the postpaid calling plans. Now the Warid postpaid calling plans are:

Glow Feel Free

Warid brings you an exciting new prepaid brand which is as different from others as you are. GLOW empowers you to make choices in service and style. You take the call on how you make your calls. The best quality network gives you what you really want. Total control! Warid have introduced glow 1.0 with the great rates on the best network.
Call Rates

UNLIMITED SMS BUNDLES Enjoy 250 SMS at Rs.2.99/day Enjoy 700 SMS at Rs.6.99/week
*All are exclusive Taxes

PRODUCTS AND SERVICES

Warid presents a wide selection of value added services that ensure you well manage your life via your mobile phone & express yourself effectively. The world of Warid Value Added Services has unlimited options of not only communication, but also convenience, entertainment & personalization. These services comprise a myriad of options from entertainment to utility based services. You think of it and we have it! Keep exploring & stay amused!

Learning as a Student at Internship