Interim Report: Icfai Business School

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INTERIM REPORT

ICFAI BUSINESS SCHOOL

SUMMER INTERNSHIP PROGRAMME

Academic Report 28/6/2022 1

COVER PAGE

INTERIM REPORT

ON SUMMER INTERNSHIP PROGRAMME

By Dande poorvika.
FMUCHH
/ /

The 2-months Summer Internship Program at icfai Institute for Higher Education is
a vital part of the 3-year BBA Course. Since majority of the students come without any
prior work experience, the Summer Internship adds worth to their CVs by giving each
student immense learning.and this is my internship report I am working as an intern
under an accountant in meridian educational society.it is a two month internship program
the objective to to understand and learn the ways of corporate finance.and to gain
knowledge and work experience in the field of accountancy.

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OBJECTIVE

As a part of my BBA curriculum I have done my internship


programme in Meridian educational society.In this report I
am going to share my experience in the company for the
period of 60. During this period my role was to understand
the ways of corporate finance .accounting and to maintain
and learn account keeping.via the guidance of a accountant
I was supposed to understand the concept of tally software
internship I had identified some problems and provide the
necessary adjustments.

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Introduction
The main objective of internship is to get exposure in the corporate
finance world.This is an ideal way to learn about an industry and to
build a relationship with a prospective employer as well as giving one a
chance to simply hone my skills. In this internship I have got to learn
different methods and softwares when it comes to
accounting.implement my knowledge in maintaining accounts and
learning with new and already existing accounts .I was told to watch
and learn the entries and methodology of the accounting software.how
we have to check the values and make sure they are correct so when the
outcome doesn't end up incorrect.

Company Pro ile

Meridian educational society is an educational institute which has 4


schools and branches in Banjarahills ,Jubllie Hills,Madhapur,Kukatpali
aimed at providing best education.the branch which mainly operates the
accounts is Madhapur and does the most accounting.is is a corporate
level finance dealing which is providing me knowledge as working in
the firm as an intern.

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I have joined the internship on 7/6/2022.the school is in Madhapur I


my timings new 9:00 AM to 5:00 PM.This internship is has helped me
acquire knowledge about corporate finance.and its operations I have
learned tally software it is an accounting software that helps in creating
journals when information and values are entered.first we get the date
sheets of different branches for a whole month the date sheet is in a
table format that specifies the payments made ans receipts received in a
month with date and specifications was given the work to make sure
that all of the payments and receipts had bills and proof.then I was told
to check the opening and closing balance.now I have learned tally
software which requires a user and password to operate and we must
choose which branch entries we are going to enter there will be quite
some branches and then we must select the date and accounting period
that u want to enter the information there are various options given but I
have been entering accounting vouchers ,then I was to enter the details
from the date sheet, first I has to select F2 in order to select the date I
had to enter the date of the specific entry I was going to put in then I
had to choose if I want to enter it in receipts F6 or payments F5 and
contra F4 after this I have to enter the name for receipts and expense
type for payments and select it then enter the amount, next I have to
choose tho mode of payment if its cash or bank if its bank which back
and differentiate between card payment and cheque payment.there is a
box to your bottom left where we must enter the details of the specific
accounting voucher mentioned in the date sheet for clear and easy
understanding of the journal that was created the ledgers must be
created according to the company, and preferences.after doing so I had
to go to the main menu and type DAL which Will take me to a page that
shows all the current entries have been made can also look up old

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journal entries that can also be changed but not deleted even if an. Extra
entry is made I couldn’t delete them ,I had to write down the voucher
number in-order to delete them I had to give the voucher number to the
guide and then she could delete it because it wasn’t accessible to
everyone.then I had to categorise each entries based on their payment
type if it was expense or income and categorise them into real,nominal
and personal accounts.then I was given bank statements for 3 accounts
and had to check if all the money was received through cheque, card
payment ans cash to verify that all the entries that were made based on
the date sheet were received if the money is received and payments are
made the cash deposits and etc were received.some entries were not
present in the date sheet those were to be rectified and entered again
example bank charges and within the school money transfers these were
to be entered.then we had to check the outstanding fees of students how
much they have paid ans how much is there outstanding payments.and
to make sure all the values are correct.

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