Internship Report

on
Account Maintaining Procedure of Unisource Technology: A Study on New
Elephant Road Corporate Office, Dhaka

Submitted to:
Department of Business Administration,
Northern University Bangladesh

Supervised by:
Ms. Farzana Chowdhury
Senior Lecturer in Statistics
Northern University Bangladesh

Presented by:
Rafsan Jamil
ID: BBA170105846
Major in Accounting
Department of Business Administration
Northern University Bangladesh

Date of submission: 22-05-2021

i
 Declaration
I, Rafsan Jamil, ID: BBA170105846, hereby declare that the presented report of internship titled
Account Maintaining Procedure of Unisource Technology: A Study on New Elephant Road
Corporate Office, Dhaka a study on corporate office is uniquely prepared by me after
completion of three months work in Unisource Technology.

My original work is submitted to Northern University Bangladesh, and no part of the report has
been submitted for any other degree, or fellowship and the work has not been published in any
journal or magazine.

----------------------------
Rafsan Jamil
ID: BBA170105846
Department of Business Administration
Northern University Bangladesh

i
 Certificate
This is to certify that the title of internship report is Account Maintaining Procedure of
Unisource Technology: A Study on New Elephant Road Corporate Office, Dhaka. This
report is submitted in partial fulfillment of requirement for the degree of BBA program
of Northern University Bangladesh.

He is Rafsan Jamil, ID: BBA170105846 was under my supervision and guidance and no part of this
report has been submitted for the part of other degree, diploma or fellowship and the work has
not published is any paper, journal or magazine.

------------------------------- ------------------------------------
Ms. Farzana Chowdhury Prof. Dr. Nazrul Islam
Supervisor Pro Vice-Chancellor & Dean
Senior Lecturer in Statistics Faculty of Business
Department of Business Administration Northern University Bangladesh
Northern University Bangladesh

ii
 Acknowledgement

First, all praises go to the Almighty Allah, the most gracious, the most merciful, the most kind
and generous to man and his action. This internship report is on Account Maintaining
Procedure of Unisource Technology: A Study on New Elephant Road Corporate Office,
Dhaka.

For preparing this report I am grateful to my organizations supervisor Md. Ismail Hossain, Asst.
Manager, Accounts and Finance. He helped me a lot though the time of work by giving his
tender hand time to time.

I would like to convey my sincere gratitude to my university supervisor Ms. Farzana Chowdhury,
Senior Lecturer in Statistics, Department of Business Administration, Northern University
Bangladesh. Without her guidance and assistance the report would not have been seen and light
of day.

Finally, my deep gratitude goes in favor of my university for getting library, lab facilities and my
teachers to enrich my knowledge, which helps me in different stages to complete this report.

----------------------
Rafsan Jamil

iii
 Executive Summary

The study has been accomplished by focusing on the title Account Maintaining Procedure of
Unisource Technology: A Study on New Elephant Road Corporate Office, Dhaka. The
objectives of the study were to analyze Authorization & Approval policy, Responsibility
Accounting Standard, Fixed Assets Management of Unisource Technology using accounts
maintenance procedure tools. Also, the study intended to perform trend analysis of financial ratio
and to perform vertical and horizontal of Unisource Technology Bangladesh. Finally, the study
included to find out problem and recommend some measure to improve the accounts
maintenance procedure of Unisource Technology. The study is exploratory in nature. This report
is formed on theoretical and pragmatic knowledge. This arrangement is sensible that helps easy
application of logical tools. All the data were collected from company’s financial statement and
operation manuals. From the analysis it has been found that current asset in 2020 higher than
another year. Current liability in 2020 was highest and 2016 was lowest. Current ratio in 2020
was highest than other years. Unisource Technology should decrease current asset and increase
current liability for smoothly operate their business. Unisource Technology should decrease
share capital. Unisource Technology should decrease operating expenses. This organization
should take necessary steps to increase their net income and should increase their liquid asset.

iv
 Acronyms and Elaborations

Acronyms Elaborations

BBA Bachelor of Business Administration

CA Current Asset

CL Current Liability

CIB Credit Information Bureau

CC Cash credit

CRM Credit Risk Management

DD Demand Draft

GL General Ledger

UTL Unisource Technology Limited

ICD Industrial Credit Division

OD Overdraft

PO Payment Order

SOP Standard Operating Procedure

SQL Structured Query Language

TC Total Cost

VAT Value Added Tax

WO Work Order

v
 Table of Content
Page
Chapter Topic
No

DECLARATION i
ii
CERTIFICATE
iii
ACKNOWLEDGEMENT
iv
EXECUTIVE SUMMARY

ABBREVIATION v

Chapter-1
1
INTRODUCTION
1.1 Introduction of the Study 2-3
1.2 Objectives of the Study 3
1.3 Significance of the Study 3
1.4 Methodology of the study 3-4
1.5 Scope of the study 4
1.6 Limitation of the study 4-5
Chapter-2
6
OVERVIEW OF THE ORGANIZATION
2.1 Overview of the Company 7
2.2 Services 7
2.3 Approach 7
2.4 Quality & Price 7
2.5 Commitment 8
2.6 Dependability 8
2.7 Quality Assurance 8
2.8 Corporate Structure of Unisource Technology 9
2.9 Our Customers 10
2.10 Corporate Information 10

vi
 Chapter-3
11
INTERNSHIP POSITION AND DUTIES
3.1 Internee Responsibilities in the Unisource Technology 12
3.2 Internship Position 12
3.3 Internship Duties & Responsibilities 12
3.4 My Daily Routine 13
3.5 Use of Office Machinery 13
Chapter-4
14
ANALYSIS AND FINDINGS
4.1 Definition of Accounting 15
4.2 The Role of Accounts in an Organization 15
4.3 How Accounts Division Work in Unisource Technology 15-16
4.4 Divisions of Accounts Departments in Media 16-21

4.5 How these financial statements are prepared in Unisource 21-23

Technology
4.6 Quantitative Analysis of Unisource Technology 23-26
4.7 Summary of Findings 27
Chapter-5
28
CONCLUSION AND RECOMMENDATIONS
5.1 Conclusion 29
5.2 Recommendations of the Study 29
References 30

List of Tables
Table no. Table Title Page no.
1 Customers List 10
2 Current ratio 26

vii
 List of Figures
Figure no. Figure Title Page no.

1 Hierarchy of Unisource technology 09

2 Current asset scenario 24

3 Current liability scenario 25
4 Current ratio scenario 26

viii
Chapter-One

Introduction

1
1.1 Introduction of the Study:
Unisource Technology is a client-driven group of IT professionals, committed to provide the best
possible custom software development services available. Unisource Technology seeks to build
trusted relationships with our clients, providing custom software solutions for simple to complex
needs in a timely and cost-effective manner.

Each of our programmers has a variety of technical skills. Our team provides the professional
expertise needed to develop an integrated technology solution. Together we offer a
comprehensive set of aptitudes to help our clients quickly achieve the maximum benefits from
their technology.

Database applications are a major part of our business. We have the experience necessary to
work with the data structures, schemes, and SQL queries upon which our clients rely, depend,
and trust. Since we opened for business in 2001, almost 350+ clients all over Bangladesh using
our software. We've created one of a kind 'Online ERP Solutions' for warranty or non-warranty
product related companies. And we delivered Computer Sales Management System, Mobile
Sales & Distributions Management System, Pharmaceuticals Management System, CNG Station
Solutions, ISP Management Systems, One Stop Solutions, Garments Accessories Management
System, LC Management System, Trading Business Solutions, Constructions Solutions and
Healthcare Management System. Interfaces of this nature allow our clients to process large
amounts of data between unlike systems in a timely, efficient, and cost-effective manner.

Accounting is a technical business function responsible for recording, reporting and analyzing
financial information. Accounting processes and procedures are usually based on the basic
accounting cycle. The accounting process outlines how financial information flows through a
company and which individuals are responsible the information. Basically the process of the
accounts maintaining in an organization following these steps_

⮚ Identify Transactions.
⮚ Record Transactions.
⮚ Prepare Reports and Statements.

2
 ⮚ Handling Procedures.
⮚ Reconciliation Procedures.
⮚ Review Procedures.

1.2 Objectives of the Study

This report has prepared by taking under consideration of the general objective and specific
objectives, which are most important that are as follows:

General Objective
⮚ To evaluate the accounts maintaining procedure of Unisource Technology
⮚ The general or main objective of this report is to complete of my BBA program.
⮚ To identify company’s accounts related operations.

Specific Objectives
⮚ To acquire the knowledge about the activities of accounts section of the IT sector.
⮚ To know about the accounting organization and accounting system of Unisource
Technology.
⮚ To gain extensive knowledge about organizational environment.
⮚ To present an over view of the Unisource Technology.

1.3 Significance of the Study

In this study, I have tried to achieve the practical and real experience about the accounts
maintaining analysis of Unisource Technology. I want to do a real research. The report has
focused some problems of Unisource Technology which may help them in taking corrective
measure and may also help me in gathering practical knowledge about accounts maintaining
system.

1.4 Methodology of the study

Methodology is an essential part of the study. It is designed in a way so that, it corresponds to
achieve the objects of the study. All the information incorporated in this report will be done both
from the primary sources as well as the secondary sources.
3
Data Collection:
Sources of Data:
1.4.1 Primary source
A lot of the required information came from primary sources.
These sources are;
⮚ Face to face discussion with Sr. Finance & accounting Manager.
⮚ Accounts personnel of The Unisource Technology.

1.4.2 Secondary Sources

I was also use secondary data for preparing this report. Data are collected from published
material, like:
⮚ Internal brochure
⮚ Books of Accounts & related documents
⮚ Intranet
⮚ Relevant books, Manuals and Journals
⮚ The Unisource Technology. Website http://www.unisourcebd.com/

1.5 Scope of the study:

The scope of this paper has limited the organization structure, background and objectives,
functions and account maintaining procedure as a whole. The scope will also limit to different
accounts related work of Unisource Technology. This report will show the details about
Unisource Technology and its account maintaining procedure. This study will identify the
accounting condition of Unisource Technology considering key dimensions such as reliability,
responsiveness and assurance etc.

1.6 Limitation of the study

There were some limitations like
⮚ Lack of experience in preparing this sort of report.
⮚ Information was confidential and not available in the market.
⮚ All the necessary data could not be found in published or any other form.
⮚ Lake of continuity of information also put me in a troublesome situation.

4
 ⮚ Because of sensitiveness, the officials did not want to disclose information about the real
situation.
⮚ The Unisource Technology was not issue annual report.
⮚ I was deal with some ambivalent information.
⮚ There was a time constraint. The duration of the study is very short to know all the
activities of this company.

In spite of this limitation, I have tried to give my full effort to make this report a good one.
Hopefully my effort will work.

5
 Chapter- Two

Overview of the Organization

6
2.1 Overview of the Company:

Unisource Technology customizes software development services that will simplify our day-to-
day business activity, so we can focus on our core business needs and boost profitability.
Unisource Technology is a client-driven group of IT professionals, committed to provide us with
the best possible custom software development services available.
Unisource Technology seeks to build trusted relationships with our clients, providing custom
software solutions for simple to complex needs in a timely and cost-effective manner.
Database applications are a major part of our business. We have the experience necessary to
work with the data structures, schemes, and SQL queries upon which our clients rely, depend,
and trust. Since Unisource Technology was opened for business in 2001, almost 350+ clients all
over Bangladesh using our software. Unisource Technology has created one of a kind 'Online
ERP Solutions' for warranty or non-warranty product related companies.

2.2 Services:
Unisource Technology strong infrastructure facilities and sophisticated technologies facilitate
coordination in work Processes. Unisource Technology has total faith in diligent and disciplined
team of professionals & experts who have helped us in supplying world class products with
timely delivery. Unisource Technology is very much keen to extend business relation with
valued company and would appreciate receiving any query have regarding Products. Mutual
benefit business relationship and long term commitment are the two of the main pillars of
principle.

2.3 Approach:
Unisource Technology Strongly Believe that success is defined by quality. Unisource
Technology committed to provide us with the best possible custom software development
services available.

2.4 Quality & Price:

Unisource Technology product quality is ensured with the practice of advanced technology and
inclination toward meeting our customer’s satisfaction with competitive price.

7
2.5 Commitment:
Unisource Technology commitment to quality has empowered us to ensure efficient working
environment within our organization.

2.6 Vision, Mission & Value

Through their vision Unisource Technology hopes to achieve great milestones and with a culture
of continuous improvement, they hope to succeed beyond measure.
Vision:
“Become the most reliable Bangladeshi IT company providing best value solutions both locally
and globally.”
Mission:
“Help transform businesses through best IT solutions to reach new peaks in productivity and
efficiency.”
Value:
Unisource Technology shares four values. The values are:
– Make it easy
– Be inspiring
– Be respectful
– Keep promises
2.7 Solutions:
 Online ERP Solution (Warranty Or Non Warranty Product)
 One Stop Solution
 Computer/Mobile Sale Management System
 Health Care Solution
 HRM System
 Filling Station Solution
 LC Management System
 ISP Management System
 Pharmaceuticals Solutions
 Trading Business Solution
 Constructions Solutions

8
2.8 Corporate Structure of Unisource Technology

Figure 1: Hierarchy of Unisource technology

9
2.9 Our Customers:

M/S AGRO CHEMICALS COMPUTER SOLUTION INC.

Apex Husain Group UNIVET LTD
INDUSTRIES
ANNYASHA GROUP OF
Mirpur Ceramics
M. HOSSAIN ELECTRONICS MOON STAR MARKETING LIMITED COMPANIES
Works Ltd.

PROVA TRADE PRATTASHEE TRADERS

Khadim Ceramics Ltd. IMPEX MARKETING LTD
INTERNATIONAL

I MART COMPUTER TECHNOLOGIES MUN MUN LATHER PVT. LTD.

Electro Mart Ltd. US FOOD MARTS
LTD.

PARAMA PUBLISHERS & SAMSONITE

S. R Group US - BD IT CENTER
DISTRIBUTORS LTD
SUNNY TRADING AGENCY
MR. Fish ASIAN TRADING CO. LTD. HNS AUTOMOBILES PVT.LTD

BUSINESS LAND
Express Systems Ltd. NAYEEM INTERNATIONAL UNIMATE PVT LIMITED

United Computer CROCKERIES GARDEN LTD – BANGLADESH AUTOMOBILE TAHER CORPORATION

Centre 4 FILTERS MANUFACTURER
MAHABUB GARMENTS &
Resallah Properties BPDB EMPLOYERS MULTIPURPOSE
SHARANEE LIMITED HOSIARI
Ltd. C0-OPERATIVE LTD
SATTAR KHAN COMPLEX
Rome Corp. Ltd. SHEULY ENTERPRISE SOGOOD
SAMITY

Table 1: Customers list

2.10 Corporate Information:

Unisource Technology
39 New Elephant Road, Kazi Bhaban (6 th Floor)
Dhaka-1205
Phone:
88-02-8650164
88-01819-274862
88-01817-610125

10
 Chapter-Three

Internship Position and

Duties

11
3.1 Internee Responsibilities in the Unisource Technology

I did my internship at Unisource Technology, Corporate Office 39 New Elephant Road, Kazi
Bhaban (6 th Floor), Dhaka-1205, from 6th April to 6th June 2021. Senior General Manager of
Finance of Unisource Technology gave me the chance to join as internee.

3.2 Internship Position

I joined in as an internship student in the corporate office. In the time of internship period, I
worked in office to understand the accounts maintaining procedure of Unisource Technology
under the supervision of Qazi Meraj Mohammad, Deputy Manager Accounts & Finance
Division. There is a structured space or opportunities for working the internship students.

3.3 Internship Duties & Responsibilities

As an internee at the Unisource Technology, my duties and responsibilities were very simple. I
had to arrive at office at 9.00 am and leave the office at 5.00 pm. My duties and responsibilities at
the Unisource Technology are listed below:

 To report my organization supervisor every day to keep record of my working days.

 To posting vouchers.
 To posting general ledger.
 To gather information about the organization by conversing the employees.
 To kept notes about the discussion prepare a summary of the particular topic and show it
to the supervisor for correction.
 If any correction is required, I did it and then provided to the relevant person.
 Accounts Payable (money out)
 Accounts Receivable and Revenue Tracking (money in)
 Payroll
 Reporting and Financial Statements
 Financial Controls

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3.4 My Daily Routine

I joined on 6th April as an internee. After being an internee my daily work was maintained very
regularity. In this company I worked under the accounts officer taking the role of helping hand to
his daily work, completing and checking a document, observing overall financial activities of
the company.
In the company my daily working hour started at 9.00am and finished within 5.00pm. During
that time I did not have any organized or systematic duty. Sometimes as an assistant my duty was
to help the different people at accounts department.

3.5 Use of Office Machinery

At accounts department of Unisource Technology, I was permitted to use all the machineries of
the office service. I was allowed to use computer, intranet, internet, printer, photocopy machine
to complete my necessary tasks.
I used the office computer to analyze and yet data entry to carry out different type of tasks of the
company used photocopy machine in order to copy company’s essential documents.

13
 Chapter-Four

Analysis and Findings

14
4.1 Definition of Accounting

Accounting is a systematic process of identifying, recording, measuring, classifying, verifying,

summarizing, interpreting and communicating financial information. It revel profit or loss for a given
period and the value and the nature of a firms asset, liabilities and owners’ equity.
Accounting provides information on the

 Financial position and performance of a firm.

 Resources available to a firm.
 Other information for various decisions making of different users.

4.2 The Role of Accounts in an Organization

The account is an essential element of the management information system. They tell
management in financial terms, what the organization has done. But more importantly accounts
provide a basis for decision making. Although organizations are dependent on external factors of
survival careful management of resources can help to mitigate losses.
Accountants are responsible for determining an organizations overall wealth, profitability and
liquidity. Without accounting, organizations would have no basis or foundation upon which daily
and long term decisions could be made. The budgets for marketing activities, profit reinvestment,
research and development and company growth all stem from all the works of accountant.

4.3 How Accounts Division Work in Unisource Technology

Accounts maintaining and analysis of a company is very important to get an overall view about
an organization. It generally consists of journal voucher, general ledger, income statement and
balance sheet. By using these sources one can perform the accounts activities and financial
analysis which are the major tools for analyzing the financial performance of a company.
Unisource Technology has huge transaction through their nineteen different depots. They are
usually maintaining these types of accounts activities, which are given below:

 Prepare daily debit, credit and journal voucher.

 Maintaining records of daily financial transactions and preparing of accounting
statements.

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  Reports submit to the Management about monthly and yearly accounting and financial
statements.
 Ensure daily data entry in the Software in due time.
 Prepare and review budget, revenue, expense, payroll entries, invoice, party payment and
other accounting documents.
 Explain billing invoice and accounting policies to the stuff, vendors and clients.
 Make all bank transaction for the organization and ensure update of the required book,
SOP, records and relevant paper work.
 Ensure that the petty cash is properly maintained.
 Maintaining cash book.
 Maintain office cash and preparing daily cash register.
 Preparing monthly bank reconciliation statement.

4.4 Divisions of Accounts Departments

There are three accounts divisions which are maintained all accounts operations in Unisource
Technology. They are
1. Standard operating procedure for Authorization & Approval policy
2. Standard operating procedure for Responsibility Accounting Standard
3. Standard operating procedure for Fixed Assets Management

4.4.1 Activities of Authorization & Approval policy section

This division of accounts department is work for company’s rules and regulation, authorization and
corporate policy related to the business operations. An authorized person can only approve the
expenses/actions of the respective area.

Governance Approved Policy;

 The authorized persons, whose positions are mentioned in the list of the approval limit,
are eligible to improve various types of financial transaction foe smooth operations of the
company.

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  The approval limit, which is indicated in the SOP is applicable to one single voucher or
bill of the expenditure not foe total expenses.
 Any type of additional whole sales and institutional discount shall be made on the basis
of prior approval through Executive Director from ARS.
 All types of miscellaneous expenses required approval from Executive Director or above
positions.

Regarding the Circulars, Office orders and Instructions will be followed as under;

 The order of promotion, demotion, punishment and any type of changes in the company
policy will be signed by the ARS; in absence of the ARS any member of the Board will
approved the same.
 The MD or ARS will sign company Circular regarding the company policy and Head of
Accounts & Finance will sign accounts Circular regarding accounting procedure and
system.
 The GM, marketing with prior approval from ARS through Executive Director will sign
marketing Circular regarding sales & marketing policy.
 All Circular and Office orders must have prior approval of the MD or ARS.

Budget;

 Operating expenses require responsibility center wise prior approved budget by the
Board.
 Responsibility Centers Manager will propose yearly budget for capital expenditure and
foe operating expense. Divisional head will recommend the same and channeled to board
through Executive Director for necessary approval.
 For major capital expenditure and new projects must require Board approved feasibility
study which will due diligent by Business Plan Department.

Compliances;

 It is the responsibility of the divisional head to ensure full execution of the SOP with
effect from June 15, 2020.

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  For any explanation need to the SOP, Head of Accounts and Finance division to be
referred.
 Board has every right to override any provision of this policy.

Update and Modification

 There will always be accounting issues that need to be addressed. There for it is expected
that the SOP periodically revised and update as per business requirement.

4.4.2 Activities of Responsibility Accounting Standard

Responsibility Center is and individual segment of a business headed by a manager having responsibility
for its performance. It is system of accounting based upon identification of responsibility center and
reporting there on.

The Standard Operating Procedure of responsibility accounting will cover only indirect
expenditure/overhead part.

Objectives

 Regulate the approval flow of financial transactions of responsibility centers.

 Standardize policies and procedures for expenditure accumulation of responsibility
centers.
 Regulate accounting for responsibility centers to ensure better quality accounting.
 Capture financial data of responsibility centers.
 Ensure continuous cost control initiatives through effective budgetary control.
 Evaluate performance.
 Strengthening internal control system.

Establishment of New Responsibility Center

To establish a new responsibility center, the following information must be provided to the appropriate
authorities using the proper form

 A description of the responsibility center and its activities.

18
  A rational for differentiation of activities from existing responsibility center or for
proposing new activities.
 Information regarding management of the responsibility center.
 Each new responsibility center must have the endorsement of respective divisional head
followed by approval of Executive Director. After receiving approval, managers of the
central accounts department will take necessary steps to open new responsibility center.

4.4.3 Activities of Fixed Asset Management

Fixed assets management is an accounting process that seeks to track fixed assets for the
purposes of financial accounting, preventive maintenance, and theft deterrence.

Organizations face a significant challenge to track the location, quantity, condition, maintenance
and depreciation status of their fixed assets. A popular approach to tracking fixed assets uses
serial numbered Asset Tags, which are labels often with bar codes for easy and accurate reading.
Periodically, the owner of the assets can take inventory with a mobile bar code reader and then
produce a report.

Objectives
 Regulate the approval flow of Fixed Assets;
 Standardize policies and procedures for Purchase, Disposal, Written off, Movement and
Transfer of Fixed Assets;
 Regulate accounting for Fixed Assets;
 Trace life cycle cost of fixed assets, includes initial cost of the assets, subsequent
measurement, repair maintenance and operating expenses; and
 Capture information regarding capacity utilization of fixed assets.

19
Definition of Fixed Asset
Fixed assets are assets that are held for use in the production or supply of goods or services, for
rental to others or for administrative purpose and are expected to be used during more than one
period and not held for sale in normal course of business.
Fixed Asset Coding System

Total twelve digits divided into five-segment code to be used to identify the particular fixed asset
Table 4.4.3 Fixed Asset Coding System

1st Segment 2nd Segment 3rd Segment 4th Segment 5th Segment
01 79 03 043 001

First Segment: Refers for company identification e.g. 01 for Unisource Technology.
Second Segment: Refers for responsibility center e.g. 79 for Head Office Administration.
Third Segment: Refers for category e.g. 03 for Furniture.
Forth Segment: Refers for sub category e.g. 043 for software development instruments,
Fifth Segment: Refers for serial number of the item e.g. 001 for Executive Table.

Opening of New Category or Sub Category of Fixed Asset

To establish a new category/sub category of fixed assets, relevant information must be provided
the central accounts department using the fixed assets category/sub category opening form.

Financial Statements

Unisource Technology is maintained four type of financial statements, which can help to give overall
financial position of the company.
Income Statement

Income statement also referred as profit and loss statement, earnings statement, operating statement or
statement of operations is a company's financial statement that indicates how the revenue is transformed
into the net income. It displays the revenues recognized for a specific period, and the cost and expenses
charged against these revenues, including write-offs (e.g., depreciation and amortization of various assets)
and taxes. The purpose of the income statement is to show managers and investors whether the company
made or lost money during the period being reported.

20
Balance Sheet

In financial accounting, a balance sheet or statement of financial position is a summary of the financial
balances of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership
equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often
described as a "snapshot of a company's financial condition". Of the four basic financial statements, the
balance sheet is the only statement which applies to a single point in time of a business' calendar year. A
standard company balance sheet has three parts: assets, liabilities and ownership equity.
Cash Flow Statement

In financial accounting, a cash flow statement, also known as statement of cash flows, is a financial
statement that shows how changes in balance accounts and income affect cash and cash equivalents, and
breaks the analysis down to operating, investing, and financing activities. Essentially, the cash flow
statement is concerned with the flow of cash in and out of the business. The statement captures both the
current operating results and the accompanying changes in the balance sheet. As an analytical tool, the
statement of cash flows is useful in determining the short-term viability of a company, particularly its
ability to pay bills. International Accounting Standard 7 is the International accounting standard that deals
with cash flow statements.
Changes Equity Holders Statement

The statement of owner’s equity is the essential report of the financial statements. Its full name is
the statement of changes in the owners’ equity. This accounting report shows all the changes to
the owner’s equity that have occurred during the period. These changes comprise capital,
drawings and the profit for the period.

4.5 How these financial statements are prepared in Unisource Technology

Unisource Technology uses both manual as well as computerized accounting systems in maintaining their
accounting activities. In some respect they use manual system but most of the accounting activities are
maintain by the computer system.
4.5.1 Manual Accounting System

Manual accounting systems, even in today’s world where computerized accounting systems seem to

triumph over paper based systems, can still provide an effective and useful way of recording business

transactions and can deliver an efficient accounting information system.

21
Unisource Technology is also maintained some sort of manual accounting process. After Collecting
nineteen different depots voucher they filling on these vouchers. Then based on those vouchers
transactions they prepare daily journal which is posted by debit and credit according to date. All prepared
journals are posted on Software for the next accounting procedure like adjusted journal, general ledger,
income statement and balance sheet.
4.5.2 Computerized Accounting System

Computerized accounting is software run on computer equipment to record, store and analysis
information on financial transactions from internal and external operations of both small and
large businesses. Financial reports are automatically generated at the end of the each accounting
period of a given company. The computerized accounting eliminates paper work making it easier
and faster to collect, store and trail all transactions as they occur.

Computerized accounting programs can provide instant reports for management, for example;
 Aged debtor’s summary- a summary of customer accounts.
 Trail balance, profit and loss account and balance sheet.
 Stock valuation.
 Sales analysis.
 Budget analysis.
 VAT returns.
 Payroll analysis.
 Bank reconciliations.

Unisource Technology is mainly performing all the accounting activities in computerized

process. All accounting information and transactions put into the program for performing in the
accounting activities.

4.5.3 Accounting Software Oracle10g

Unisource Technology uses accounting software as well as computerized software is a Oracle

10g database which was developed in 2008 for internally purpose of the company. The meaning
of ‘g’ in oracle 10g is a ‘Gird Computing’. All accounting essence and modules set up in this

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software only user input data and it can automatically process and provide results. It has five
modules through it can give financial results. They are

Voucher entry: Unisource Technology has nineteen different depots all over the Bangladesh.
After collecting those vouchers they entry on the database to prepare journal voucher.
Journal voucher entry: After every depot vouchers are entry completed, then the journal
vouchers are posted debit and credit along with date.
Monthly journal: According to the journal vouchers, they are prepared monthly journals of the
company.
General ledger: After that they prepared ledger in the program where the transactions are posted
as a final point.
Trail balance: After posting all financial to the accounting journal and summarizing them in the
general ledger, a trail balance is prepared to verify that the debits equal the credits on the chart of
accounts.
Income statement: To calculate net profit, the income statement is prepared in the program.
Balance sheet: The last and final statement is balance sheet that shows assets, liabilities, owner’s
equity and investors investments in the company. It also can provide the overall financial
position of the company.
Beside these, oracle software is performing another accounts operation for their fixed asset
management, transactions data record, update general ledger, store depots transactions data,
equipment and machinery maintenance through these following modules.

Asset Module: This module is work for company’s overall fixed asset management, record,
store and their salvage value.
TC Module: It is the software module where the fixed asset has gets a serial number
From Builder: In this module general ledgers are posted and these are included in the next
module.
Report Builder: General ledgers are stored and keep record for all the depots GL overall the
year.
SQL Plus 8.0: Here, all the company’s inventory and all-purpose financial data records are
updated and if necessary they can change the financial data.

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4.6 Quantitative Analysis of Unisource Technology
4.6.1 Current asset: Current asset is one of the most important elements for a company because a
company’s profit or cost depends on current asset. Company operation can be hampering because of less
current asset and they will face liquidity problem. Again if the company invests more in current asset then
the shareholders wealth will not maximize

Graph 4.6.1- Current asset scenario

Amount
40000000
36691030
35000000

30000000 26888893
25000000

20000000
Amount
14043406 14818374
15000000 13642365

10000000

5000000

0
2016 2017 2018 2019 2020

Figure 2: Current asset scenario

Interpretation: From the graph it has been seen that, the current assets was respectively
increasing except in 2018. The highest amount of current asset in 2020 and the lowest amount of
current asset in 2018. It is a positive for Unisource Technology.

24
4.6.2 Current liability: Current liability has less cost but it is risky for a company because
within one year company has to repay it. But if a company cannot operate or companies earn less
profit then they are not able to repay their liability and face liquidity problem. So, it is sales for a
company if they take high amount of long term debt then short term debt.

4.6.2 Graph- Current liability scenario

Current Liability
40000000
34945493
35000000

30000000 28677744

25000000 22424906

20000000 18535168 18767392

Ammount
15000000

10000000

5000000

0
2016 2017 2018 2019 2020

Figure 3: Current liability scenario

Interpretation: From the graph it has been seen that, the current liability was respectively
increasing except in 2016. The highest amount of current liability in 2020 and the lowest amount
of current liability in 2016. It is a positive for Unisource Technology.

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4.6.3 Current ratio: The current ratio, one of the most commonly cited financial ratios,
measures the firm’s ability to meet its short term obligations. The higher the current ratio, the
better the form of the above graph it is seen that in 2020 liquidity position of the firm. It is
expressed as:
Current Ratio=Current Asset/Current Liabilities

Table 4.6.3- Current ratio:

Year Current assets Current Liabilities Current Ratio

14043406 18535168 0.76
2016
14818374 22424906 0.66
2017
13642365 18767392 0.94
2018
26888893 28677744 0.94
2019
36691030 34945493 1.05
2020
Table-2 Current ratio
Graph 4.6.3:- Current ratio

Current Ratio
1.2
0.94 0.94
1
0.76 1.05
0.8 0.66
Ratio

0.6
0.4
0.2
0
2016 2017 2018 2019 2020
Years

Figure 4: Current ratio scenario

Interpretation: From the graph it has been seen that, the current ratio was respectively
increasing except in 2017. It is a positive sign for Unisource Technology.

26
4.7 Summary of Findings

Some major Findings of the Unisource Technology

 Unisource Technology doesn’t publish their annual report to the public because it is a
private limited company. They do not provide any annual report or internal audit report to
the outsider because of their confidentiality.
 From the current ratio Analysis it can be seen that the company has an average current
ratio, which means enough current assets are not kept to pay their short term obligations.
It is also an indication that the company follows Aggressive Approach rather than
following a Conservative or Moderate Approach.
 The department people always remain busy due to lack of supporting employees so they
could not dedicate their full efforts.
 The Unisource Technology follows a policy of not disclosing all the information needed
to prepare my report for obvious reason.
 The highest amount of current asset in 2020 and the lowest amount of current asset in
2018.
 The highest amount of current liability in 2020 and the lowest amount of current liability
in 2016.
 The current ratio was respectively increasing except in 2017.

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 Chapter-Five

Conclusion and Recommendations

28
5.1 Conclusion
Unisource Technology is a full service oriented company that is passionate about communicating
clearly and effectively in developing an exciting, evolving and fostering atmosphere. I as an
intern had the opportunity to work with this giant company during my internship program. I was
placed at head office accounts division. I got a vast opportunity to observe the accounts
maintaining process of accounts department at Unisource Technology is delivering services like
other IT related companies. But if services are offered at the augmented level definitely
Unisource Technology can become the market leader. That reason inspired me to work with this
prominent organization.
So, finally I have to say that this internship at Unisource Technology Accounts policy has
enlarged my theoretical knowledge of Bachelor of Business Administration in to some practical
knowledge and made my BBA education more complete and applied. I give all my wished and
regards so that it could become the leader of IT industries in Bangladesh in near future.

5.2 Recommendation

It is not unexpected to have problems in any organization. There may be problems in operating
an organization. But there must be remedies to follow. The following commendations can be
suggested to solve the above-mentioned problems:

 The company should increase current ratio to pay their short term
obligations and should follow Conservative or Moderate Approach rather
than following an Aggressive Approach.
 From my close observation, it has been found that not every employee
knows much about financial condition and products that shou1d be provided
from Unisource Technology This communication gaps can be brought
negative impact on Unisource Technology
 Though Unisource is a private limited company but they should publish
brochures and reports that will make easier process to know Unisource
Technology

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 References

Unisource Technology “Services” viewed on 20 March, 2020,

http://www.unisourcebd.com/index.php
Unisource Technology, “Company Info” viewed on 22 March, 2020,
< http://www.unisourcebd.com/about_us.php >
Unisource Technology, “What we do “ viewed on 22 March, 2020,
http://www.unisourcebd.com/what_we_do.php
Unisource Technology, “Client List” viewed on 25 March, 2020,
http://www.unisourcebd.com/client_list.php
Madura, Jeff, 2009, “Financial Institutions and Markets”, Seventh Edition Thomson South
western, USA.
Rose, peter. S, 2006, “Commercial Bank Management”, Fifth Edition, McGraw-Hill/Irwin, New
York, USA.
Ross. A, Stophen and Jeffrey :( 2002) “Corporate Finance”: 6 th Edition, New York.

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