INTERNSHIP REPORT

ILM COLLEGE SARGODHA

Institution name
Your name

SCANNED COPY OF INTERNSHIP

CERTIFICATE

ACKNOWLEGEMENT
All praise to the almighty Allah, Beneficial and the Merciful. Without
his blessing and endorsement this report would not have been
accomplished. The successful completion of this report might never be
possible in time without the help some person whose inspiration and
suggestion made it happen.
This is a matter of pleasure for me to acknowledge my deep sense
of gratitude to University of Management & Technology and my College,
ILM College, Sargodha for giving me an opportunity to explore my abilities
via this internship program. I would like to express my sincere gratitude to
our Principal, Prof. Mehboob Ahmed Ch. and our CEO, Ch. Tauseef Liaqat
for this opportunity. I also wish to express my gratitude to my internship
supervisor Mr. Mussadiq Aziz, for their valuable guidance and advice in
completing this project.
I would like to record my sincere appreciation and gratitude towards
all the officials and employees of ILM College, without whose kind
assistance, my internship program would not have succeeded. The facts
and other vital information provided by them have contributed towards
making this project as comprehensive as possible. I am indeed thankful to
them.
I am also very thankful and grateful towards my seniors, colleagues
and authorities of ILM College for their support, encouragement, and
valuable suggestions for the completion of this project as well as for their
generosity and co-operation.
Last but not the least, I would like to express my sincere thanks to
all my family members, friends and well-wishers for their immense
support and best wishes throughout the internship duration and the
preparation of this report.
I believe that this report will be a valuable asset not only for
academic institution, but will also be useful for all those who are
interested to learn about internship experiences in accounting and
consulting firm.

TABLE OF CONTENTS

1.Overview Of the Organization

2.Organizational Structure
2.Introduction To All Departments
3.Plan Of Internship Program
4.Training Program
5.My Learnings
6.SWOT Analysis
7.Conclusion

OVERVIEW OF THE ORGANIAZTION

MISSION

Impart purposeful education to the youth from all

sections of society at affordable packages under the
shadow of Islamic Values

VISION

Provide career-oriented education and inculcate

amongst the students
modern skills and techniques of Leadership through
Innovation in order to meet the challenging demands
of present era

HISTORY
ILM Trust is well recognized in the field of education due to its
notable services in education sector. The Trust started its educational
services 25 years back by establishing Institute of Leadership and
Management (ILM). That ILM College was later granted university charter
and now known as University of Management Technology.
The Trust is now embarked upon a new journey by opening a chain
of ILM Colleges in the main cities of Pakistan. The aim is to set high
academic standards by using innovative teaching techniques. The
Knowledge School network is yet another project of ILM Trust - thus
providing academic ladder from Play Group to Ph. D.

INTRODUCTION ABOUT ILM

Institute of Leadership & Management (ILM) has 25 Years of making
excellent achievement in education; excellent from ILM to a degree
awarding institute University of Management & Technology (UMT). It has
produced more than twenty thousand students in different disciplines who
are making their contribution in the national, multinational and
international Organizations. ILM has now embarked upon a new journey by
opening a chain of ILM Colleges throughout of country with an added
vision of spreading knowledge with innovation. Thus ILM is providing
academic ladder from Intermediate to Ph.D.

ACADEMIC RULES AND REGULATIONS

All students are considered to be the standard bearers for the
goodwill of the College. To maintain and academic and comfortable
environment at the college premises, students have to abide by the rules
and regulations of the college, failure to do so would result in prompt
disciplinary action.

The decision of the Principal and Discipline Committee is considered

final in all matters relating to violation of the rules and regulations.
Student should note that they are under the authority and
jurisdiction of the college during the college hours.
Therefore, the students are advised, in their best interest, to comply
with all the rules and regulations as laid down below.

COMPETITORS

C.F.E College
Comprehensive College
Dar-e-Arqam College
Green field College
Heritage College
Hi Aims College
Hira College
I-MATS College
ITM College
Meridian College
Misali Ravian College
Punjab Group of Colleges
Superior Group of Colleges

ORGANIZATIONAL STRUCTURE
NUMBER OF EMPLOYEES
ILM Group of Colleges is an educational Institute so it has approx.
150 employees under the following categories.
LECTURER
55

MALE STAFF
ADMIN
25

D-STAFF
20

LECTURER
25

FEMALE STAFF
ADMIN
15

D-STAFF
10

MAIN CAMPUS
ILM College Sargodha (Boys Campus)
86/87-A, Satellite Town, Sargodha.
Tel:

048-3212181-82

Fax: 048-3212183
www.ilm.edu.pk [email protected]

INTRODUCTION TO ALL DEPARTMENTS

DEPARTMENT OF SCIENCE
INTRODUCTION
The disciplines of Basic Sciences have been the oldest branches of
learning science, right from the time of Greeks. The Muslim Scholars of
Mathematics, Physics, Chemistry, Astronomy, etc. laid down the strong
foundation of scientific knowledge. The development of modern eras of
inventions and discoveries evolved from those strong footings. According
to Ibne-Khalun, The study of Mathematics is for the mind, like soap for
the clothes which washes away from them Dirt and cleans the Spots and
Stains.

OBJECTIVES

Basic Sciences are essential for proper understanding the technical

subjects, promoting research work, widening the vision for the
future and enhancing the quality and authenticity in Sciences.
The subjects of Basic Sciences: Mathematics, Physics, Statistics,
Economics, play a vital role in the development of a Country.
It is our intention to produce competent, motivated and socially
responsible Mathematicians, Physicists, Statistician and Economists
that they can build the good traditions through education and to
participate actively in the development of our country.

PROGRAM OFFERED
The Faulty of Basic Sciences is comprised of the following four
Departments:

10

Department
Department
Department
Department
Department
Department

of
of
of
of
of
of

Mathematics
Physics
Statistics
Chemistry
Biology
Computer Science

DEPARTMENT OF HUMANITIES
INTRODUCTION
Human thinking is affecting the Behavior, Attitude, Performance
and Life. The improvement is possible due to the critic consultation of
Social Sciences. The positive change may accrue due to Social Sciences.
Human History is accepting the truth of life.

PROGRAM OFFERED
The faculty of Social sciences is consisted of four major Departments.

Department
Department
Department
Department

of
of
of
of

Urdu
Islamiat
Comm. Geo.
Pak. Studies

DEPARTMENT OF SCIENCE
INTRODUCTION
The Department of Commerce has been instrumental in providing
candidates with thorough knowledge and understanding of the principles
of commerce and business. The B.S. four years and M.Com program are
structured on team based learning, class presentations, case studies, field
research reports and other reference materials, to combine academic
theory with practical problems. To update the students, seminars and
workshops on current economic and business issues are also organized in
the Department. These methods of study not only provide excel in
personal development but also prepare the students to accept future
challenges in the fast growing corporate world. It is for these reasons that
the M. Com degree holders have been well received by the national and
international commercial concerns in and outside the world.

OBJECTIVES

11

The main objective of Commerce Department is to produce

professional managers , accountant and businessman for the nation.
It possesses scientific knowledge and understanding of accounting ,
marketing human resource management financial management ,
Quantitative Techniques for business and also known socioeconomic Condition of the country.
Students are also able to make plan for the development of industry
and for the welfare of working people .

The Students of Commerce today occupy key position both public

and private sector.
They are able to prove themselves as a good manager and have a
creative and helpful attitude in problem solving.
They are able to play leadership role or institute a mechanism that
can targeted performance in terms of time, cost or some other
measure of effectiveness from the plan.
Students of Commerce possess a decision ability to face a various
problems.
Students possess clear idea of their path of development where
they stand and where they are going .
They possess ability and power to develop new ideas and are able to
implement these ideas.

The department offers the following courses of studies:

M.Com
B.Com (Hons.) 4 years
B.Com (IT) 2 years

COMMENTS ON ORGANIZATIONAL STRUCTURE

The organizational structure of the ILM College Sargodha is very
strong as shown in the figure the complete hierarchy of the organizational
structure of this college. Everyone always fulfill their responsibilities and
task when given to them. A complete top down and bottom up flow of
communication is present in the structure of the college.

12

PLAN OF INTERNSHIP PROGRAM

INTRODUCTION TO THE OFFICE
I work in the Department of Accounts of ILM College. Where I taught a
bundles of new things related to my field which help me a lot in my
practical life. All the staff while talking about accounts, everyone is so
competitive and supportive. The essential roles and duties of virtually any
accounting department include the following

Money out making payments and keeping the bills paid

Money in processing incoming payments
Payroll make sure everyone gets paid (including the government)
Reporting preparing financial reports, e.g. P&L, Balance sheets
and budgets
Financial Controls to avoid errors, fraud and theft

STARTING DATE OF INTERNSHIP

Starting date of my internship is

ENDING DATE OF INTERNSHIP

Ending date of my internship is

NAME OF DEPARTMENT
The name of the department I worked is, Accounts Office. This is situated
at ILM College Sargodha (Boys Campus).

DURATION OF INTERNSHIP
My duration of internship in accounts office at ILM College is 06 (Six)
weeks.

13

TRAINING PROGRAM
RESPONSIBILITIES
ACCOUNTS PAYABLE (MONEY OUT)
In order to maintain great relationships with vendors making sure that
everyone gets paid on time is a vital role. The role of the accounting
department includes keeping an eye on opportunities to save money, for
example, determining if there are discounts or incentives available for
paying certain vendors more quickly. At the very least, AP should be
scheduled to assure that the least amount of money has to go out per
payment, i.e., no late payment charges!

ACCOUNTS RECEIVABLE AND REVENUE TRACKING (MONEY IN)

Another critical duty of the accounting department is to account for and
track receivables, including outstanding invoices and any required
collection actions. Accounts receivable is responsible for creating and
tracking invoices. The responsibility here includes assuring that
customers pay those invoices on time, so a system of friendly reminders is
crucial.

PAYROLL
Payroll is a critical function of the accounting department and includes
making sure all employees are paid accurately and timely. In addition,
proper tax is assessed and tax payments are on time with state and
federal government agencies.

REPORTING AND FINANCIAL STATEMENTS

The primary reason you collect data properly in your accounting software
is to prepare financial reports that can be used for budgeting, forecasting
and other decision making processes. In addition, these and other reports
are needed for communication to investors, banks and other professionals
that play a role in the growth of your business.

FINANCIAL CONTROLS
Financial controls include reconciliations, dividing the responsibilities and
following the GAAP standards of accounting principles, all of which are
implemented with view toward compliance, fraud and theft prevention.
The role of the Controller is to ensure procedures are set up properly to
manage that process without errors.

14

ACTIVITIES
Disbursement of cash.
Keeps record of banking transactions.
Maintain cash book.
Maintain the record of payroll of all employees.
Maintain the record related to the students and employees.
Preparation of bank reconciliation statement on monthly basis.
Preparation of statement of financial performance.
Record expenses on daily bases.
Using Excel or comparable accounting software
Using computerized spreadsheets, apply basic arithmetic
functions, absolute and relative cell addressing, and cell
construction using justification, labels and values, copy and move
functions.

15

MY LEARNINGS
LEARNING FROM INTERNSHIP
Internships are the cherries on top of the resume sundae. They can
make any student stand out to colleges, future employers. Internships are
quickly becoming essential for any job and can offer a lot of experience to
students hoping to get ahead. But how can you get the most out of yours?
Well I personally learned six, things on my own internship experience.

SPEAK UP
Many times I would be sitting at my isolated desk with endless
questions about what I was supposed to be doing. I was completely
paralyzed in my chair because I was too afraid to walk around or bother
anyone. I rarely moved from my desk the first few days, but I would have
been much more efficient and happier if I had gotten up, asked my
questions, and got back to work.
If you need help, just ask! Its much easier than planning out a route
to your bosss cubicle, writing out a specific dialogue, and rehearsing it
ten times.

TAKE ON AS MUCH AS YOU CAN

In the entire two months I was at my internship working for a
newspaper, I only wrote three articles. I dont know what the normal
standards are for interns at publications, but I think I could have done
more. I wish I would have asked for more work and when I was asked to
contribute another article, I should have said yes.
Remember that the more you do, the more you have to show for the
experience when youre looking for another internship or, gulp, a job.

WORK HARD
This is an obvious one, but dont waste time. Youre there to work,
and they didnt have to give you this opportunity. Make the most of your
time and theirs.

MIMIC YOUR COWORKERS

I do not mean to play that game and repeat everything they say just
to annoy them. I mean watch how they interact, how they talk, how
they dress, and their repeated habits. For example, if you notice that
everyone is always on time and takes punctuality seriously, you darn well
better be there at 9:00 a.m. sharp, or earlier. You can learn a lot about

16

office etiquette procedures from the ones who have been there for twenty
years.

TALK WITH YOUR COWORKERS

Coworkers have a lot of experience and they have obviously made it
in that particular field. Ask them how they got this far and what advice
they have for you. You could learn a lot and get some great ideas.

BE THANKFUL
The best thing to do is send a handwritten note thanking them for
the experience and opportunity to work with them. Itll leave them with
good thoughts about you and you can most likely refer to them for a
recommendation later.

SKILLS DEVELOPMENT

17

Communication Skills
Strong Work Ethic
Teamwork Skills (work well with others)
Initiative
Interpersonal Skills (relates well to others)
Problem-solving Skills
Analytical Skills
Flexibility / Adaptability
Computer Skills
Technical Skills
Detail-oriented
Organizational Skills
Leadership Skills
Self-confidence
Friendly/Outgoing Personality
Tactfulness
Creativity
Strategic Planning Skills
Entrepreneurial Skills / Risk-Taker
Sense of Humor
Accounting skills
Communication Skills
Computer Skills
Problem-solving Skills
Strong Work Ethic

18

Teamwork Skills

CONCLUSION
On the whole, this internship was a useful experience. I have gained
new knowledge, skills and met many new people. I achieved several of my
learning goals. I got insight into professional practice. I learned the
different facets of working within a Educational Institute. I experienced
that account related activities, as in many organizations, is an important
factor for the progress of projects. The internship was also good to find out
what my strengths and weaknesses are. This helped me to define what
skills and knowledge I have to improve in the coming time. It would be
better that the knowledge level of the language is sufficient to contribute
fully to projects. After my master I think that I could start my working
career. It would also be better if I can present and express myself more
confidently.

19