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COMPANY PROFILE
A
diversified global Infrastructure EPC major Leadership in Power Transmission EPC space Over 6 decades of experience Project footprints in over 45 countries across the globe A billion dollar turnover company
Project
was named as Study of Procedure and Practices in Accounts Department. The purpose was to know the need of accounting, its working and procedure of every sections of Accounts Department. For this 3 different sections of Accounts Department were studied. Purchase Section Taxation Section Billing Section
Software was not built for networking. Safety measures were strictly followed. Current contract details were not disclosed to outsiders.
Cash
Entry tax
BILLING SECTION
Billing of goods sold
Payment of goods purchased
Invoi ce Date
Improve
the billing cycle Building vendors confidence Reduction of additional liabilities Effective debtors management Timely collection of bills Better billing management with improved staff efficiency
Yearly
update of datas are incorporated Separate bills are maintained for purchase, sale and stock Calculation of received quantity of each item is different Auditing is done every month every quarter for which bills are maintained Every month installation of new machines has been done of which special recommendation and certificates are issued accordingly accounting process is carried on.
Fixed
assets are maintained properly and depreciation is charged every year using straight line method. Most of the payments are made throught bills of exchange If a single mistake occurs in the billing, purchase or sales process full procedure is verified and done again.
Calculation
of each material purchased is different thus errors are expected hence a proper checking system must be provided. Work delay must be eliminated. The requirements must be clearly defined so that doubts and confusion could be avoided.
APPLICABILITY
Finding of this project can be use for other manufacturing unit
LEARNING
How to work in big organization. How to work, manage , and report under 3-4 executive. How to handle pressure of above management people. How to be motivated.