intern ship report of forward gear pvt limited , sialkot

7/22/2019 Intern ship Report of Forward Gear Pvt Limited , Sialkot

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FORWARD GEAR PVT LIMITED

1 Hassan Raza Ahmed ( 10012720-026) FMAS

Letter of Transmittal

Respected Sir,

Here is a report, our respected Professors asked to make on Forward Gear.

First of all we collected data about this report from the management and the

employees of the company. I got detail information about that Working of the

company by observing all the activities during my internship span in the

Company.

In this report we mentioned history, products, policies and management of the

Forward Gear.. We are very thankful to Allah Almighty, Who helped us a lot to

accomplish the required task.

Cordially,

Hassan Raza Ahmed


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PREFACE

This report is about my internship at Forward Gear. In order to be able to cope

with the changing environment it is necessary to have some practical

experience. The students are deputed to different well-established

organizations. There, they not only have a close look at the working of their

respective institutions but they also take an active part in their daily

proceedings.

During this internship span I have come to know the work criteria of accounts

and planning department of Forward Gear. I spent about six weeks of my

internship in Forward Gear.

In this I have made analysis on the working and performance just as

experiencing as an employee. I have seen many daily transactions and

working criteria of the company. This Internship report contains overall

growth, working system, organizational structure, operations and other

information about the institution. My overall experience of the internship isgood.

Hassan Raza Ahmed


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4. EXECUTIVE SUMMARY

During my internship period, my supervisors were very much cooperative

and answered my queries very calmly and also gave me manuals about

organization. Besides their ever going activities, they never got irritated by my

questioning. Due to their help and cooperation, now I can confidently say that

I am fully aware of the functions and activities performed in the accounts

department of the Forward Gear.

In starting days of my internship period I observed and helped in the activities

and tasks going on in the Accounts office. I was held responsible for entering

bills in journal, ledger reconciliation, vouchers printing, maintaining records,

preparing import payment documents, maintaining employee payroll records,

preparing export documents, maintaining record of TTs and credit advices

sent by bank ,Salary slips printing, cash from banks, salary distribution ,

denomination of cash, preparation of Day book etc and I really tried to work

hard and with determination to fulfill my duties and given tasks with honesty

and timely. During my internship period I used to visit different banks which

enhance my confidence level and communication skills during my visit to bank

I was given responsibility of holding huge amount of cash to analyze abilities

of honesty .

Mr. Muzammil Rana (Accounts manager) taught me how to report your work

to your officials efficiently.

After my internship, I analyzed that my bookish knowledge become more

productive after having practical experience of my knowledge; I memorize the

journal entries but didnt know about its significance in business sector, being

a business student it was very much beneficial for me to enter in journal

because I already have idea about these entries. After internship in account

office I am very much confident that I can pursue my future career in this field

and I can work independently in accounts office.


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Punctuality is the basic requirement of working in Forward Gear, Its Managing

director himself visit to production halls daily and inquired about empty seats,

and if any employee is doing what he or she not ought to do in working hours

he or she may be terminated at the spot, From this I learned to be punctual,

disciplined and more responsible to the work.

5. INTRODUCTION

Section-1 is about introduction of report. As a component of requirement of

MBA degree, six week internship is necessary for student. This section

includes background, purpose, scope and objectives of the study.

5.1. Background of the study

Internship training program during Master in Business administration Program

is necessary for the partial fulfillment of the completion of Degree of Master in

Business Administration as per HEC (Hire education commission)

requirement. It was necessary for me to complete an internship period of

about six weeks in any service or manufacturing concern relevant to my area

of interest and specialization. So, I chose the Accounts department ofmanufacturing firm because I am interested in this field and my study

background is related to this field.

5.1.1. Purpose of Study

Internship is the capstone experience that provides internees with hands-on,

real- world experience in a work setting. Ideally, internship enables internees

to:

Use knowledge and skills got from the classroom,

Discover where further competence is needed,

Convert the bookish knowledge into practical life and

Become better acquainted with the types of work settings in which such

Competence can be applied.


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5.1.2. Scope of Study

Scope of internship is that the internee will know some basic know how about

the business companies and their working environment at different seats and

it will be helpful for them in future.

5.1.3 Objectives of Study

The main objectives of studying at Forward Gear were:

To get work experience by working with a well-reputed organization.

To gain knowledge about the professional environment of the

organization. To know about the technology utilized by the organization.

To deal and manage with the situations of stress.

To implement theoretical knowledge in practical life.

To know firms activities i.e. its products and services.

To observe the finance system of the organization.

To know how this firm supports the economy of the country.

5.2. OVERVIEW OF THE ORGANIZATION

5.2.1. Historical Background

Forward Group Pvt Limited

In Sialkot 1990 Forward group has started its working with the name of

Forward sports. Forward Sports was established by Mr. Khawaja MasoodAkhtar, A young, ambitious engineer, who had worked in the ball

manufacturing for many years. Mr. Masood had the idea of revolutionizing the

hand-stitched industry and with his innovation on team and his future

prospective, he started his new factory. The first years proved to be very

difficult and many hurdles had to be overcome. The competition in the

industry was strong and to break into these barriers seemed to be very

difficult factory was only one of the 5 or 6 suppliers for adidas and by far the


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smallest. So the first year forward produced only an average of 1,000 balls

per month, only the low end price point balls, with a lead time of 120 days,

made out of imported materials in the old traditional way of hand stitched ball

manufacturing. However, this was not what Mr. Masood wanted. So as an

entrepreneur, he started to try different things, while not forgetting his

business. He first found a local manufacturer for the ball materials. He and

Thai PU, a synthetic supplier from Thailand, which had a small plant in

Pakistan, developed their own material to be independent from imports and to

have more and better innovative choices.

At the same time, a continuous and still ongoing process of improvement and

change in the factory started.

Every operation step was questioned. Mr. Masood made numerous trips to

machine manufacturers all over the world, to see what was going on in the

industries and to implement this in his factory. In the meantime, he saw a

continuous growth of his business by delivering good quality products with

shorter and shorter lead times. For Football 2006 Season, Forward made

about 4.7 million balls and had already become the second largest ball

supplier. From 2003, he modernized and changed the way of ball making

completely. The lamination which was done by hand in rather uncomfortable

conditions was changed to machine lamination. In Printing, 15 hand printing

lines with rather high concentration of solvent were changed and replaced by

7 automatic, multicolor printing machines, with environment friendly

conditions.

The cutting section, which used conventional swing - arm cutting machines,

cutting 1 panel per time, high power machines are now being used, which can

cut up to 204 panels per stroke. Instead of buying small batches of latex,

Forward built 2 big containers for 250 tons storage with a centralized

supplying system, directly to the Factory. All this innovations and continuous

modifications made it possible for Forward to be:

The only hand-stitched ball factory for adidas Group (They make

adidas and Reebok balls) Shipper of approximately 4.7 million balls in

2007


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The most sophisticated hand-stitched ball manufacturer in the world,

with lead time of maximum 60 days, with 50-60% of the balls shipped

out within 30 days

Price reducer between 2002-2008 due to localizing of materials (almost

100% of the ball materials are made in Pakistan now) improving

efficiency and productivity

Producer of 32 panels Thermo bonded balls as of September 2007 in a

complete new building on the same compound as the hand-stitched

plant. The capacity has been increased to 25,000 balls in April 2008

.Between 60-70% of the workers in the ball factory could be reduced

and in the same way the space in the building could be saved.

Forward has now become the worlds no 1 hand stitched soccer ball

manufacturer with the capacity of producing 35000 balls/ day providing

the low price high quality in minimum lead time.

Vision Statement

20 year of innovation - the past, the present and the future Forward Group

Private Limited is one of the few companies in Sialkot industry that can trace

its history back in 20 years. Forward is family owned manufacturing and

exporting business concern of footballs, volley balls, rugby balls, beech balls,

and medicine balls, shoulder bags, gym bags, team bags, shopper bags.

The third generation of the family has entered the field of international trade

bringing together the established business and family values, experience and

skills coupled with pertinent business education, knowledge and expertise.

The Past - history of product innovation We would like to take you to the

corridors of rich business history of Forward group and its management,

which has the privilege of creating and introducing new spirit and techniques

of doing the business that became source of guidance in Sialkot for small and

large scale industries of sports goods since 1988 to this day.


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MISSION STATEMENT

Forward Group is a consumer driven, design oriented and an Innovative

Company, aiming to work with coherence of renowned global Brands,

organizations and entrepreneurs, translating marketing and business goals

into design strategy, novelty and to attain a new product success

5.2.2. Strategic business units:

Forward Group has following strategic business units:

Forward Sports

Forward Gear

Forward TM

Forward Long way

FORWARD SPORTS (PVT) LTD:

Forward Sports (Pvt) Ltd. is a football manufacturing companytargets to become the world leading football producer by

providing quality, on-time delivery, cost saving, innovation and

high tech oriented solutions to the customers.

FORWARD TM (THERMO MOLDED)

Forward Tm manufactures Stitch low quality match balls with

three days manufacturing lead time. The state of the art ball is

almost with same price range. The production of the thermo

bonded ball is increased up to 2000 balls per day.


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5.2.4 Forward Gear Profile:

Address: Wazirabad Road Adah Sahowala, Sialkot, Pakistan

Ph No# +92-52-3571991-5

Fax No# +92-52-3571996

HR Department:

Ph No# +92-52-3571990

Email [email protected]

Accounts Department

Ph No# +92-52-3571995

Export Department:

Email [email protected]
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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5.2.5. Introduction of Forward gear:

Forward Gear (Pvt.) Ltd. is a bag manufacturing company targets to become

the world leading bag producer by providing quality, on-time delivery, cost

saving, innovation and high tech oriented solutions to the customers.

With adidas as a main customer, Salomon and Diadora are the brands that

Forward Gear is manufacturing bag items for. To meet the customers

requirement and to reach the objectives, the company will be operated by the

international standards and for making results-focused management. The key

competitors of forward gear are:

Starite ( China)

Long way (Vietnam)

Pungkook (Vietnam)

5.2.6. Business volume and number of employees:

As it is manufacturing firm its production depend on the quantity of

orders received but it has production capacity of 350,000 per month.

Currently more than 1300 workers are working in organization.


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5.2.7. CLIENTS

5.2.8.COMPANY PRODUCTS:

Currently company is offering following bags for production.

Gym Bag Shopper Bag


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Backpack Team Bag

Messenger Bag Wallet


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Trolley Bag

5.2.9. PESTL Analysis

PESTL analysis stands for Political, Economic, Social, Technological and

Legal analysis that layouts a framework of macro-environmental factors used

in the environmental scanning component of strategic management. It is a

part of the external analysis while conducting a strategic analysis or executing

market research, and gives a synopsis of the different macro-environmental

factors that the company must consider. PESTL analysis is a helpful

imperative tool for understanding the growth or decline in business position,

potential and direction for business operations in the market.

PESTL Analysis OF Forward Gear:

Political: Political instability in Pakistan can lead to changes in laws

and policies which can be in favor or against the manufacturing sector.

Economical: Economy of Pakistan is facing issues about employment,

inflation, illiteracy, which hinders business growth.

Social: Cultural issues can be there but still as there are a number of
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multinational companies there, therefore, cultural issues are not

prominent.

Technological: People are highly skilled and Forward Gear can

introduce new technology for manufacturing.

Legal: Various laws such as discrimination law, consumer law,

antitrust law and employment law can affect how Forward Gear

operates, its costs, and the demand for its products.

5.2.10 Facilities

Area Covered:

Forward Gear having 26,2198 square meter available for manufacturing

facilities and 18876 square meter constructed area consist of 5 large, halls 4

halls for production purpose and 1 hall for development purpose with 24/7

backup of 1500 kv electric generators to fulfill the requirements of anytime

delivery production order.

Quick Response Orders Production

Specially designed department having capacity of 1000 bags per shift with 15

days of lead time and fulfill the requirements of small and quick order needs of

customers.

Production Capacity

Forward Gear having capacity of 11,500 bags per day to fulfill the

requirements of heavy orders from customers like Adidas.

Employees Facilities

Medical care

Group insurance

Medical allowance

Transportation

Social Security

Medical Facility &Educational facility

Medical leaves
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Education allowance

Marriage grant &Death grant

Old age benefits & pension


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5.3. ORGANIZATIONAL HIERARCHY CHART


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MDs Message:

"A bag manufacturer targets to produce for all brands in the world."

This is the goal of Forward Gear (Pvt.) Ltd. November 15th, 2007, Forward

Gear started its set up and with adidas as the major customer, the company is

moving forward to the goal it set. Forward Gear is the first bag manufacturer

in Pakistan for big brands and it is going to change the whole bag

manufacturing industry in the world.

Pakistan is a promising site for the business and the combined experience,

knowledge and technology of Pakistan and Korea will make a difference and it

will shake the world by quality, on-time delivery, price and innovative/future-

oriented bag products.

It will be fun for you to watch how Forward Gear is moving forward and how to

achieve its goal day to day, week to week and year to year.

Best regards,

Mr.Chris

Managing Director


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5.3.1.POLICIES AND ACHIEVMENTS

Social accountability policy:

Forward Gear (Pvt.) Ltd. Is committed to create a better working environment

for its employees by implementing and sustaining SA-8000 standard

requirements, to provide and ensure their basic rights. We ensure in

educating our workers and suppliers/contractors on the policies and

procedures developed by the companys top management to maintain the

highest ethical standards, conforming to:

Labor Law of Pakistan

Buyers Standard of Engagement

WFGI Code of Conduct

SA-8000 Requirements

ILO Conventions

Environment policy:

Forward Gear (Pvt) ltd. Is a company manufacturing & exporting bags for

international markets we understand that our business may have an

environmental impact by performing our activities and using raw materials,

natural and artificial resources. Forward Gear is committed to continuous

improvement of its environmental management system for the achievement of

safe and conductive environment. We are highly concerned about the

prevention of pollution for the safe living.

The Relevant NEQS of Pakistan WFSGI Regulation Related to Environment

Buyers Standard of Engagement to sustain this commitment, the

requirements are comprehensively mentioned in the document of the

environment management system of ISO 14001.

These apply to all related activities. This policy is documented, implemented,

maintained and communicated at all levels within the company and is

available to public for their interest.


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Quality Policy:

Forward Gear (Pvt.) Ltd. Aims to maintain its leading position in bags

industry by satisfying our respectable customers needs and expectations

through providing consistent quality products backed-up by:

Modern Research & Development Facilities

Lean Manufacturing

HSE/SOE Standard

OHSAS 18001 Standards

ISO-14001 Standards

SA-8000 Standards

Safety Policy:

For us nothing is more important and value able then your life and health.

Always use personal protection equipment at your work places provided by

company. Safety gloves, earplugs, goggles, eye guard, etc. always remember

that nothing is as important and value able to Forward Gear as your health

and life. For workers safety Forward Gear apply the following standards &

policies they are:

ISO-14001

SA-8000

HSE (Customer Standard)

SOE (Customer Standard)

Lean Manufacturing

ISO-9000:2000

Order Acceptance Policy:

When orders come into a hand we will check the following things:

Estimates the order capacity

Check the material arrangement

Departmental capacity

Current capacity

Planning


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Time factor

Company checks all the factors and then confirms the order.

Hiring Policy:

The Forward Gear established a system for hiring. The following points are

followed:

Advertise the vacancy in newspaper, chamber of commerce & industry

magazine Posted on factory board or by factory employees relations by

understanding the nature of job.

A job announced does not specify race or gender or other personal

characteristics.

Any job person (within the company or its associate) who considers

himself suitable for job may apply.

Race, cast national origin, religion, disability, gender, sexual

orientation, age or political affiliation does not influence in hiring

process.

Selection is made only on the basis of merit.

Application may be selected / rejected or deferred for future job

opening.

Selected candidate hired on first three months probation period, and if

the employees performance are satisfactory during the prohibition

period, then company treated as an permanent employee other wise

the prohibition period may extended.

All applications are submitted to the human resources office of the

company.

Concerned department in charge contact with human resources

department and raise the demand for new employees for his

department.

Interviewers fill up candidate assessment sheet(s).

Hiring decision (on the bases of education training and / or experience)

Forwarding applications for further approvals to concern department.

Job description writing (by M.R./EMR/SA-8000 Manager).

Attendance Cards are made at starting of job.


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Evaluation:

All employees will be evaluated every transfer and in the last month of the

year.

HR Policies:

Visitors/Guest Policy:

Visitors / Guest is not allowed to visit the production floors without

permission of the competent authority. However special areas are set a

side for their entertainment.

Personal Telephone Calls/Emails:

The telephone is available for official use only. The personal calls are

not allowed in working hours.

Meal Break

If the employee is scheduled to work more then five hours then they

are entitled for one hour lunch. This period is allocated for lunch &

prayer only. The time is as follow:

For labor / officer (Summer / Winter) From 1:00 p.m. To 2:00

p.m.

On Friday (For lunch / Prayer) From 1:00 p.m. To 2:30 p.m.

Suspicious Packages:

If you are seeing any unopened package, bags etc. Please do not deal

with them your self. Let your self, let you department in charge know

about them or inform the security staff.

Leave Information:

Except for sick leave, employees are required to take prior permission

for their manager and approved from general manager of the company

and submitted to gate in charge. If any employees earn the leave

without the prior intimation than the leave shall be considered leave

without pay. If the sick leaves are more than two, medical certificate

should be attached with leave application form.


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Lost Property Policy:

If your personal property is lost, immediately inform your boss, so that

you could help out if you find anything on the premises, please hand it

to your in charge, or admin department without any delay.

Policy On Smoking:

Forward Gear established their own policy about smoking. It is the

policy of Forward Gear in working area during working hours. Only the

nominated areas are allowed for smoking.

If any worker, supervisors, in charges, managers, and remaining all

staff member are not allowed to smoke in working areas. Company will

take serious action for that employee according to rules and regulation.

We believe that every person will be following the company rules &

regulations.

Do you know how smoking plays with your health? It is safety hazard

and cause fire.

Absenteeism is high among smokers. Productivity loses due to smoke

brakes and causes damage to property when cigarettes burn. Smokers

require more routine maintained i.e. ash/ butt clean up. Smokers create

health hazard for other employees through passive smoking.

5.3.2. CAREERS:

While a good degree is important, we're interested in your skills, experience

and aptitudes - the qualities that will help you become an outstanding

manager. Working with us our competencies

Throughout our selection process we assess candidates against our

leadership competencies. You need to be familiar with these and should

consider how you measure up against each one. Our selection process is

rigorous, so if you don't fulfill these criteria, it's best to realize this before

investing the time in applying.

Breakthrough thinking:

You generate new ideas, delving beneath the surface to find true meaning

and using conceptual and lateral thinking to create business advantage.


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Change catalyst:

You're excited by the opportunities change brings and respond positively to

challenges. You adapt creatively and will actively promote the change

process.

Organizational awareness:

You use your understanding of an organizations culture to make an impact,

working within both formal and informal structures to achieve goals.

Seizing the future:

You want to impact future performance and you take action to realize goals

and create new opportunities.

Self-confident integrity:

You act with integrity and your principles underpin your behavior, motivating

you to stand up for your beliefs and take difficult decisions when necessary.

Competitive Pay:

Forward Gear pay and benefits programs reflect how much the employees

and their families are valued. These programs are among the most

comprehensive and competitive in our industry.

Forward Gear pay practices are designed to attract, motivate, retain and

reward employees with competitive base pay complemented with short-term

and long-term incentives. Forward Gear believes in compensating employees

in a manner comparable to our competitors in the industry.


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After collecting the data the department analysis it with the order of the bag

and report the general manager to perform the necessary measures. At the

end of the month and after completion the order the manager of the

department has to prepare a report on all of the work that occurs between that

month and order and submit it to the Managing director of the company.

Development Department:

The Development department of forward gear manages all the work relating

to developing of the samples of the new bags. It checks the cost of the bag

relating to its profit. The department consists of 9 employees including one

manager in them. The department forecasts the type and amount of material

required to make a bag. Summarizing the work of development department

as:

Download ads

Distribution ads and artwork to:

1. Development office

2. Design

3. Costing

4. Development Hall

Making size table

Making Dummy Sample

Check Material

Order Material

After performing all these steps the bags is manufactured and pass to the

Quality Control department for checking. If it is ok then pass for the order

otherwise new sample is prepared.


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Production Planning Department:

The production planning department of the forward gear manages all the POs

(Purchase Orders).It checks and confirm the orders and upload it in the

system for record keeping. After confirmation of the order the planning

department makes a plan of how to complete the required order in a required

time by minimizing the cost and time and effort. After making the plan the

department has prepared the MIR report. The MIR reports consist of all the

detail about the material of the bag i.e how much material is used to complete

this amount of bags. The material is issued to the line leaders in the line

through material feeders which start production thereafter. The departmenthas four executive employees and number of material feeders to feed the

material in the line at the right time so that production not suffers.

Summarizing the work of the department as:

Adidas POs

POs confirmation

PO uploading in system

Production Request

Planning

Material in line

Start Production

Daily production report

After completing the production the bags are moved to the packing

department where after packing it scanned and shipped out.

Accounts & Finance Department:

Accounts & finance department in forward gear manages all the record of the

transactions to the banks and with the forward sports. It also manages all the

records of the local and international suppliers. The department gets all the

information from the Human Resource, Material, production and the printing

center about the transactions. The departments manages and prepares all


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the expanses and revenues of the company. The department has to maintain

all the records of the employees of the company relating to their salary,

bonuses, rewards and overtime record. The department is also responsible to

prepare the financial plans and financial statements of the company.

Summarizing the work of the department as

Making the financial plans

Managing the payments

Managing the payroll

Record keeping

Reporting to managing director

Material Department:

The material department in the company plays a very important role. This is

because without the supply of right material at right time we cannot prepare

the bag.The duty of the department is to check all the record of the material

tha used in the preparation of the bag and make the order of the material that

is short before the start of the bag to the supplier. The supplier can be local or

overseas. After ordering the department checks the status of the order and

make sure that it received on time. The department updates about the status

of the material to the Managing Director time to time. The material issued to

the material feeders on the basis of MIR report and on demand. Summarizing

the detail of the department as:

Checking the stock

Order Placement

Maintaining Record of invoices

Issuance of material on MIR

Issuance of material on demand

Making daily, monthly and weekly reports of Material


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Printing Department:

The printing department of the company is connected with the cutting hall.

According to the POs of the bags the panels made and send them to the

printing department for the printing. The printing mostly done by the screen.

The department maintains all the record of the printing mostly through the

gate passes.the department submits report time to time to the managing

director of the company. Summarizing the Work as:

Reciving cut panels

Maintain record

Printing

Dealing with the rejected printing panels

Preparing the daily, weekly and monthly report

Quality Control Department:

The quality control department of the company checks the quality of the

material , printing and the sewing of the bags. The department perform certain

tests in the lab to check the material while the sewing of the bags are check inthe line during production. The employees in the department are hired by the

head office of adidas in Sialkot. The minor missing in the printing is also

rejected in the line.The department use both inline and endline inspection.

Summarizing the work of the department as:

Physical checking of Material

Performing tests

Sewing checking

Cut panels

Shade variation

Stitching

Proper trimming

Printing checking

Color shade


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PART 2.

Internee work

5.4.Brief introduction:

Forward Gear Pvt Limited:

Forward Gear is business unit of Forward sports as stated earlier, it is bag

manufacturing company ensuring quality, on time delivery, and saves cost

and provide technology based innovation to its customer.

Location:

It is located at Sahowala, river side of Sialkot, 8 km away from Sialkot City.

5.4.1. Internship Period: 15 August 2011 -30 September 2011

5.4.2. Department of Internship: Accounting Department

5.4.3. Detail of supervisors:

Following are the details of the supervisors during my internship period:

Names Designation

1 Mr.Muzammil Rana Accounts Manager

2 Mr. Sarfraz Accounts officer

3 Miss Anum Accounts officer

4 Mr. Taufeeq Cashier

During my internship in Forward Gear, I worked in Accounts

department for 5 weeks and last week I spent in planning department ,

I successfully performed all the tasks assigned to me and carefully

analyze the situations and working department there.

My internship period was divided into three phases by Mr.Muzammil

Rana (Accounts Manager).


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I spent first two weeks with the working and tasks of Mr.Sarfraz which

includes filings, vouching, recording of bills/ printing of vouchers,

reconciliation of ledgers photocopies/faxes and bank visits which are

further explained in my weekly time table.

Next two weeks was spent at import export and employee payroll work

and my supervisor was Miss Anum and my tasks were maintaining

employees payroll records, import export documentation, and keep

record of payments, further details are explained in weekly time table

section.

Next week was spent with Cashier Mr. Taufiq, where my tasks include

denomination of cash, preparation of day book, payments, receiving of

cash, bank visits, single entry system, pessi records, tax payment

records.

Last week was spent at planning department where I observed working

conditions of warehouse, cutting .sewing, planning and packing

department, details of working are explained in next section.


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5.5. Weekly Timetable:

Following is the weekly timetable of my learning and working during my

internship at Forward Gear Pvt Limited, Sahowala, and Sialkot.

5.5.1. FIRST TWO WEEKS: 15-09-2011 to 27-09-2011

Supervisor: Mr.Sarfraz

Description of the Work:

Journal entries

Voucher printing

Ledger Reconciliation

Supplier files

Supplier payments

This officer is responsible for the following tasks:

Journal Entries:

Accepts the bills which are being passed by the costing department and

making journal entries of those bills in the company records.

Vouchers Printing:

After journal entries, he takes voucher print of that specific transaction which

are to be signed by the account officer, accounts manager as well as

managing director, after signatures these vouchers are filed with its bills in file

of that specific supplier.

Keeping Ledger Reconciliations:

Keeps record of the ledger of all suppliers and inform them regularly about the

balance outstanding, and if there are any queries in balance of supplier and

organization, demands the ledger of supplier to match against company

record. He also maintains the ledger reconciliation statements.


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Separate file of each supplier:

Keeps separate file of each supplier in which all the related bills, copies of

payments cheques are entered to maintain records.

Payment to Supplier:

When payment is to be made to Supplier of materials, then cross cheque of

Habib Metropolitan Bank is given to the supplier which photocopy is being

entered in the file also for record.

Purchase cycle:

Purchase cycle of Forward Gear starts as the order is received before six

months, first of all Costing department conduct analysis of company cost

related to the order which is going to be receive in next six months and then

inform Planning department put the order in software form which is further

used by Costing, Planning as well as Material department. This department

check out the quantity of stock at warehouse available as well as needed for

the next order and generates Purchase order which is signed by Managing

director and its copy is being sent to the local supplier in which specific dates

are mentioned in which material is to be received either in full or by parts.

Billing department concern:

As the material is received with builty documents as well as delivery challan.

The material department attach MRIN ( Material Received Inspection Note ) ,

PO ( Purchase Order ) to the billing department which further physically verify

the quantity received with the help of daily inward report which is held by the

Gate and security officer as well as other calculations related to the bill and

after keeping summary of bills forward bills to the accounting office.


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Accounting office Concern:

Accounting officer enters the bills in the form of journal entries in the

accounting software. Records are kept by the accounting office in software

form as well as in hard files.

Separate files of each supplier are maintained and ledger records are kept in

files. After Vouching rechecking of bills by manger, managing director as well

as account manager, these bills are finally filed into respective supplier file

after recording voucher is detached and kept in separate box files which are

maintained according to the dates.

Administration Purchase cycle:

Administration officer uses only one demand sheet for all kind of supplier and

this demand sheet is verified by manager as well as managing director.All

other department of Forward Gear ask administration department for any sort

of stationary material needed by giving them a demand sheet signed by their

respective managers. Administration department is also held responsible for

the arrange of any function in the organization.


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18-08-2011 I visited Meezan bank

I recorded transactions in files

Advance Salary payment

This day Mr.Muzamil sent me to the Meezan bank with the cheque

of Mr. Hafiz Abdul Qadir to deposit amount in his account and I

also recorded transaction in files of suppliers.

This is the day when workers are asked whether they want to

receive one third of their next month salary in advance or not. List

of all employees are printed and sent to the production hall and

every labor individually asked whether they want advance

payment or not, every individual sign in front of name with amount.

19-08-2011

Printed vouchers according to JV numbers

Learned how to reconcile ledgers according to supplier

and firm.

This day Mr.Sarfraz asked me to print vouchers which he already

has entered in software; I just took print of those vouchersaccording to JV numbers. After this I learned to Recognize

differences between the company ledger and the ledger of

suppliers and make reconciliation statements.

20-08-2011 Printed vouchers according to JV numbers

Learned how to reconcile ledgers according to supplier

and firm.

Visited to Suppliers office

Photocopies

This day, Again I punched vouchers and took print of the vouchers

and also make reconciliation statement. Sir Muzammil sent me to

the Suppliers office for the payment and that day I also spent a

major span of time in photocopies of the bills of suppliers and

other documents given by another officer.


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22-08-2011 Punched almost 250 vouchers

I filed vouchers in their respective files according to

the dates.

This day, Vouchers were filed in the box files which are also a

tough task to be done; a lot of vouchers have to be filed according

to the dates of their printing.

23-08-2011 Entered bills and make entries in journal

This day I entered bills of suppliers in journals and took print of

their vouchers also. Many other bills are also attached with

suppliers bills such as MRIN, PO whose comparison and

calculation must be rechecked before entering the bills in the

ledger.

24-08-2011 Entered bills and make entries in journal

Attach bills of supplier in respective files

As entries of bills is major task of this officer , so to enhance my

learning and experience I entered more bills in journal and new

entered new bills in the hard files of suppliers and record

transactions in ledger.

25-08-2011 I visited Standard Chartered Bank

This day I visited standard chartered bank for depositing the salary

of Mr.Chris Jin , MD of Forward Gear to his personal account, my

visits to bank also enhances my abilities of communication in

banking sector ,and how to deposit a large sum of money and

what are its requirements.

26-08-2011 Ledgers Reconciliation

This day I called almost 15 suppliers to send their ledgers

immediately for reconciliation. Only 10 suppliers sent ledgers and I

made reconciliation statements of ledgers, Sometimes there may

be huge differences in amounts of supplier and company ledger,

for accuracy we must check the dates of transactions, and


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Export documents:

This officer is also responsible for maintaining records of the receiving

of cash from exports.

Journal Entries for Export:

After receiving of cash, the officer enters the data into company

software.

Payroll records:

Records of new employees and leaving employees are also maintained

by this officer.

Overtime payments:

Records and sheets of overtime payment, keeping in view that there

should be no employee who has not been included in overtime

payment, but he has overtime .Such confusions create a lot of

problems for the officer and manager as well.

Dues statement:

Forward Gear has always been very strict in its rules and policies, any

employee found guilty can be terminated at the spot, thats why this

officer also make final dues statements of employees on daily basis.

The documents of his/her termination are put forward by the HR

department to this officer.

Salary slips:

Salary slips are also printed by this officer keeping in view the last

months salary and overtime payments.

Import payment Process:

Payment of import is sent through bank and also through agent.

Payment through bank:

If the payment is made through bank following documents are required:

Request letter for payment

Commercial invoices (invoices sent by exporter to importer contains

shipper name, port of loading, final destination, description of goods,

quantity, units, unit price and amount).

Bill of Lading


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Exchange control copy

I-form ( filled by importer containing name of bank through which

payment is made, beneficiary name (exporter), description of goods,

quantity ,port of shipment ,date of shipment).

Custom copy

These documents are sent to the bank for payment of import and after

verification of the documents bank make payment and send the TT

copy (Telegraphic transport) and debit invoices to its customer. After

receiving the documents from bank firm enters in its book of accounts

with following journal entries:

o Purchases a/c To bank a/c

Export Payment Received process:

Advance Payment received:

For payment to be received, export department send invoices,

FCR(forwarder cargo received) to the bank for the negotiation of

advance payment.

Legal way of Payment received:

Documents about export like invoices are sent to the forwarders which

are Maersk Logistics & Raaziq international who are responsible for

shipment .After shipment, documents are sent to the Adidas Office

which further sent to the Hong Kong (mainoffice) for verification, bank

then send the Credit Advices to the company upon payment has been

received. When payment is received, then following entry is made for

record by accounts officer:

Bank a/c, EDS (export development charges) ,Income tax, OBS

(ordinary bank charges)

To Adidas Asia

For Export sales:

Adidas Asia a/c to Export Sales

Payroll Records:


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Upon hiring of new employees, record details of new hired employees

are sent from HR department to Accounts department for working of

its salary status, which further records salary , EOBI deductions and

sent back to the HR department for filing of individual employee record.

Payment of Salary:

Monthly salary of staff employees includes:

Basic Salary

Special Allowance

Meal Allowance

While for labor employees, it also includes meal allowance and

overtime payments etc.

Salary Calculations:

Salary / working days *number of days worked

Over time calculations:

Salary /working days =per day / 8 hours *2

Termination of Employees:

Employees can also be terminated at the spot with reason and

termination documents are sent to the accounts office by HR

department and final dues are made by Accounts officer.

Dues Statement:

While making dues statement of terminated employees following

factors are taken into consideration:

Number of days worked

Gratuity ( if employees has worked for more then 1 year , this

depends upon number of years and one gratuity equal to one

month basic salary.

Leaves

Annual leaves = 14 days

Casual and medical leaves = 18 days


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WEEKLY TIME TABLE

DATE ACTIVITY

29-08-2011

Filled I-form for the payment of material imported

Recorded Overtime payments

Overtime payment process completes in last week of month,

this officer is responsible to prepare documents for payment of

material import. For such payment filling of I-form is first step, I

form is delivered by bank through which we are making

payment. It contains importer date, description of goods and

exporter data and its duly stamped by MD.

30-08-2011

Recorded Telegraphic transport sent by Habib

Metropolitan bank

Entered Import payment in journal.

After payment made through bank, It sends TT copies to the

organization, the proper record of TT copies is very necessary

for the organization for any query, after import payment has

been made, and then entries are to be made in journal.

31-08-2011

I visited bank

Being internee in accounts office, often I have to visit banks for

payment or receiving of cash.

01-09-2011

Overview and preparation of export documents

When finished goods of organizations such as bags, purse,

these are being exported to its client countries who send

organization payment for these goods, for receiving, export

department send invoices and other documents to the bank for

the negotiation of the advance payment, if the payment of

export has been received through banks then bank send credit

advices to the organization about money has been received

which includes all tax deductions. I analyze the export


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documents and the process of receiving payments.

02-09-2011

Currency exchange for exchange of money

Entered cash received from export in journal

This day Account manager, Mr.Muzammil sent me to money

exchange office for the exchange of dollars into rupees , this

activity is also very beneficial for me being finance student, it

keep updated about foreign currency exchange rates.

Coming back from currency exchange office, I entered the

amount from credit advices to journal.

03-09-2011

Bank Visit for Cash

As next week is for salaries payment, bank should be informed

about requirements of cash.

05-09-2011

06-09-2011

07-09-2011

Payment of Salaries

First week of every month for accounts office is all about

salaries payment to the employees and labor. Payment of

salaries requires too much care and attention, first of all it is

checked whether employee has received any advance or not.

Salary slips printout also requires attention, because this is for

what workers work day and night and labor is very much

conscious about salary calculations. For attachment of cash

with salary slips, members from other departments are also

called to sum up work in less duration. The Whole process of

payment of salaries to the employees completes in three days.

08-09-2011

Visited Bank for cash

Recorded Missing Salaries

After payment of salaries, cashier reported that cash is not

available for meeting daily payments, so sir sent me again to

the bank for cash.


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This month we received complaints about some missing

salaries, so we again worked on salaries sheets.

09-09-2011

Documents prints for overtime payments

I paid overtime payments to the employees

Over time payments are made throughout the months, to

motivate and encourage employees for hard work, these

payments never delayed by accounts office, if worker dont

come at account office for receiving of overtime payment,

account officer or internee goes to the production hall for

payments, these are strict rules set by the MD of organization.

10-09-2011

Missing salaries

After verification about missing salaries, I went to the

production hall for payment of the missing salaries.


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5.5.3. FIFTH WEEK FROM 12-09-2011 TO 18-09-2011

Supervisor: Mr.Taufeeq

Description of Work:

Payment of Dues:

Payment of Salaries:

Day book and closing of Cash:

Denomination of Cash

PESSI

TEXES

Payment of Dues:

Dues of terminated employees are paid by cashier, by single

debit entry All entries made by cashier are single, temporary

advances are checked, before payment temporary advances are

checked then payment is made to terminated employees. Every

payment made by cashier is vouched through cash payment

voucher.

If employees have gratuity then gratuity and other benefits

account is debited and other then gratuity only salaries

account is debited.

Payment of Salaries:

Monthly salaries are paid by Cashier after printing of salaries sheets.

Day book and closing of Cash:

This book is maintained by Cashier on daily basis which contains daily

cash receipts and cash payments for closing of cash on daily basis and

cash is verified by following formula:

Debit balance + Cash in hand = B/F + Credit balance

Denomination of Cash:

Cashier also keeps daily record of notes available in hand; this record

is called denomination of cash. This contains Notes , denomination and


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amounts, total cash, damaged notes and physical balance this amount

must be equal to cash in hand in day book.

PESSI and Tax Payment:

This officer is responsible for maintain the record of Pessi and tax

payments.

WEEKLY TIMETABLE

DATE ACTIVITY

12-09-2011

Analysis of cash receipt and payment vouchers

Preparation of Daybook

Payments of dues

Denomination of cash

Closing of cash

At very first day with cashier, I analyze vouchers which he print

when to pay or receive cash, which he distinguished by colors ,

green color voucher for payment of cash, and pink color voucher

for receiving of cash. First day was the day of analysis , I

observed his activities of preparation of day book, payments of

dues to the terminated employees ,at the end of the day how he

keep denomination of cash and how he closes his cash balance.

13-09-2011

Pessi Records

Preparation of Daybook

Payments of dues


cashier is also responsible for Pessi records , (deductions from

company staff members salary).Cashier daily activities include

payment of dues, denomination of cash and preparation of day

book.

14-09-2011

Payment of Tax

Salary Status of new employees


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Payments of dues


Closing of cash

Cashier sent me to the National Bank for the payment of taxes

form the company management employees, I maintained

Daybook include payments and receiving of cash on daily basis.

New hired employees are required to submit two copies of their

CNIC to HR department, HR department along with these copies

sent their appointment letter to the accounts office to ON their

salary status in system of organization.

15-09-2011

Preparation of Day book


Maintaining record of notes available to the cashier is called

denomination of cash, this is very simple process which includes

how much notes of 10 rupee, 100 rupee, 500 rupee, 1000 rupee

are available to the cashier.

16-09-2011

Payments to production hall

I went to production hall for payment of Bonus to the

employees.

17-09-2011

Daily payments

Preparation of Day book

Cash closing

Daily payments and receiving of cash are the routine tasks of

cashier such as payment to terminated employees, which

involves payment and to off the salary status of that employee.


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5.5.4. LAST WEEK FROM 19-09-2011 T0 25-09-2011

Department: Planning

I spent my last days of internship period in planning department to have

overview of how planning and production takes place in organization.

Production Manager: Hasnaat Khawaja

This is the main department of the organization where planning and

production takes place. The work starts form warehouse where material for

the production is issued according to the requirements and further sent to the

cutting department, here my work was to provide cut parts to the production

lines.

Purchase order:

The whole process starts from the Purchase order form Adidas which

includes quantity, quality and deadline of the order receiving. When

order is received planning department upload it in company software

and plans the production according to articles of bag.

MRIN:

Planners issue material internal requisition note, which includes how

much material is required for production and send it to the ware house.

Cutting Department:

Warehouse send the material to the cutting department for cutting and

after cut the material feeders provide the material to production lines

which includes back panel cells and simple panels.

Printing department:

Simple panels are sent to the printing department which prints logos of

Adidas or relevant client on the panel.

Sewing :

Sewing is the result of team work , one individual sew one panel and

pass it to the next individual, this work completed on hour basis.

Supervising:


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WEEKLY TIMETABLE

DATE ACTIVITY

19-09-2011

Planning

Software Upload

MRIN

First day was to have overview of planning department who

work upon the receiving of purchase orders from ADIDAS,

and uploading of MRIN at company software and prepare

MRIN for material department.

20-09-2011

Ware House

Issuing of materials

This day was to have an overview of warehouse from where

material is issued, Warehouse receives MRIN from planning

department and issue requires material to cutting

department.

21-09-2011

Cutting

I spent this day at cutting department where cutting of

material was made according to the articles of bags which

are ordered by ADIDAS.

Pieces which are required by the printing department are

sent there for printing, and other sent to the production lines

for sewing.

22-09-2011

Sewing

Sewing of pieces is teamwork, one into another person and

completed into per hour basis.

23-09-2011

Material Confirmation

This day was spent with planning officer to confirm whether

material is provided to production lines and this material is

being utilized effectively or not.


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24-09-2011

Finished Goods

This day was spent to inquire the finished bags, whether

they are according to the purchase orders from ADIDAS or

not.

25-09-2011

Scan and Packing:

The finished bags are then scanned and packed for export.

5.5.5. SUMMARY OF MY LEARNING

During my internship period I applied my theoretical concepts practicallywhich gave me better understandings which I have read in my accounts

books. This internship helped me to improve my confidence level and

communication skills as well. My internship taught me not to lose confidence

in any problem because every problem has solution. During my internship

period, my supervisors were very much cooperative and answered my queries

very calmly and also gave me manuals about organization. Besides their ever

going activities, they never got irritated by my questioning. Due to their help

and cooperation, now I can confidently say that I am fully aware of the

functions and activities performed in the accounts department of the Forward

Gear.

I joined Forward Gear on 15 august 2011 and I reported to GM of Forward

Gear, Mr. Hafiz Abdul Qadir, who introduced me to the accounts manager

Mr.Muzamil Rana and I accompanied him to the account office and in the way

to account office he advised me to have a successful internship period Ishould look busy always in work environment whether I have been given work

or not, and he introduced me to the Accounts officer Mr.Sarfraz where I have

to spend 2 weeks, during my stay there with Mr.sarfraz .


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5.5.5.1.SKILLS AND QUALIFICATIONS:

I learned how to cope with difficult situations in calm and professional manner,

under the guidance of Mr. Sarfraz I learned to enter bills in journal , ledger

reconciliations , which are very beneficial for me because of having finance

specialization and thats the reason for me choosing accounts department for

my internship. I learned to be more responsible under his guidance because

he was given vast tasks within very short time frame which he complete very

efficiently, I learned to be more attentive in listening instructions given by

accounts manager, because in accounts department communication of

figures and true understanding of figures is very important. I learned to bemore Quick responsive then before, because this is the demand of any

profession. He trained me so well that I even worked at his seat in his

absence very successfully. Yes Boss is the term which I can say should be

used for your better evaluation by your boss. Being professional is also a key

for a successful employee. My first two weeks taught me to be professional,

clear communication quick response, and deep knowledge of your filed is very

much necessary to be successful.

Under supervision of second accounts officer I learned to prepare import

documents , export documents, and how to maintain payroll records , under

her supervision I learned how better communication can solve many problems

in no time , better communication is the key in dealing people, this account

officer was concerned with employee records thats why she had to deal with

many employees. I learned, while working in competitive environment we

should keep record of every document because boss can ask anything at

anytime and delayed or confusing answers may result is underestimation of

your work abilities. Mistakes are the part of work but repeating those mistakes

may have unfruitful results for your career .Under her supervision I learned

how to learn from our mistakes and not to repeat again because in

professional and competitive work environment repetition of mistakes dont

even exist. I learned that work is divided in such a way that one mistake


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effects the working of complete system. I learned that tasks given should be

completed on time.

Under supervision of Cashier, I learned to record day book, denomination of

cash, entries in company software, maintenance of cash. He was very calm

person and performs his actions very calmly but effectively, while working with

him I learned how to maintain create a jolly environment while maintaining the

dignity of office environment. I learned to be more responsible in matters of

cash, how to handle a large sum of cash and most importantly I got a chance

to learn practical application of single entry system. Being student of Finance

specialization Accounts department taught me practical applications of mylearning through books. During my internship period I used to visit different

banks which enhance my confidence level and communication skills during

my visit to bank I was given responsibility of holding huge amount of cash to

analyze abilities of honesty .Under supervision of Cashier I learned how to

handle aggressive behavior of people if company is delaying their salaries in

very clam way.

Mr. Muzammil Rana (Accounts manager) taught me how to report your work

to your officials efficiently and how to complete tasks within given time frame.

My learning in planning department is all about the matter of Time. After

receiving order of Adidas, All next activities are time bounded from receiving

of order to delivery of finished goods. In this department I learned strictness

and professionalism is basic requirement of our officials because workers

work more efficiently under the strict head and lenient head may not produce

best results from his/her workers, So being professional and strict boss is

effective for the organization.

After my internship, I analyzed that my bookish knowledge become more

productive after having practical experience of my knowledge; I memorize the

journal entries but didnt know about its significance in business sector, being

a business student it was very much beneficial for me to enter in journal

because I already have idea about these entries. After internship in account


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office I am very much confident that I can pursue my future career in this field

and I can work independently in accounts office.

Punctuality is the basic requirement of working in Forward Gear, Its Managing

director himself visit to production halls daily and inquired about empty seats,

and if any employee is doing what he or she not ought to do in working hours

he or she may be terminated at the spot, From this I learned to be punctual,

disciplined and more responsible to the work.

5.5.5.2. RESPONSIBILITIES UNDERTAKEN:

In starting days of my internship period I observed and helped in the activitiesand tasks going on in the Accounts office. when I have learned from my first

accounting officer I was held responsible for entering bills in journal, ledger

reconciliation, vouchers printing, maintaining records, preparing import

payment documents, maintaining employee payroll records, preparing export

documents, maintaining record of TTs and credit advices sent by bank

,Salary slips printing, cash from banks, salary distribution , denomination of

cash, preparation of Day book etc and I really tried to work hard and with

determination to fulfill my duties and given tasks with honesty and timely.

5.5.5.3. INFLUENCE ON FUTURE PLANS:

Being Finance students, doing internship in Accounting and finance

department is very beneficial for me because I want to peruse my future

career in this field according to my specialization and this internship period

gave me experience of working in such accounts environment which can

create opportunity for me in employment in this sector.

Forward Gear is an organization where internee also work like employees of

firm and treated like employees and their questions are encouraged and

answered which give motivation to work hard for firm.


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5.5.6. CONCLUSION

It was really a golden opportunity for me to work in competitive and

professional environment of Forward Gear as internee because I got chance

to analyze the practical applications of my theoretical knowledge. As for as

Forward Gear is concerned, Discipline, determination in employees, on time

completion of tasks, Professionalism, Incentive given to labor for their

motivation are key factors of success. Work is decentralized into employees

very efficiently which increases effectiveness of work performed. Access to

higher offices is very easy, any employee, even labor have access to MD and

have equal right to complain if he/she is not compensated for work performed.

Terminated employees are given dues at the spot. My internship provides me

professional experience and confidence and enhanced my personal as well

as professional abilities. Forward Gear facilitates new talent and young

employees and providing employment opportunities to the people of near

areas. Besides fulfilling the degree requirements, internship provide student

possibilities for entering in the world of employment, provide students with

options to decide whether to pursue their career in that field or not. Thisexperience of internship provides students with real problem work that may

not be found in books.

In Sialkot Forward Gear is very well known bag manufacturing organization

and one of the best Adidas products manufacturers.


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5.5.7. SWOT ANALYSIS

Strengths:

During my internship period I observed following strengths of the organization:

Having strong brands as it clients like Adidas and Reebok.

In Sialkot there is no other competitor of Forward Gear

It has huge production halls which can accommodate more than 1200

workers.

Highly Qualified Management

High Security

Weaknesses:


Internal employees politics effects quality of work

Loans are affecting profits of Forward Gear and also its goodwill.

Old employees are at more risk of their job termination.

Opportunities:


Many market areas are untapped

Develop more portfolios in coming years

Threats:


Cost threats, company can have cost increments due to the the

electricity rising rates in Pakistan which may result in loss of order from

China because China demands very economical rates.

Political Threats


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Employees Union is very strong in organization, it can waste time and

resources of organization.

5.5.8. RECOMMENDATIONS There should be proper check on labor as well as on management

to avoid the management politics.

There should be more security of old employees.

In accounts office a lot of work is given to only 3 employees, there

should be at least 2 more employees in accounts office.

There should be hiring of more specialized and skilled employees in

printing department.

Promotion should be given bi-annually.

Employee union should be centralized.

Planning should be done to complete the work assigned to workers

within working hours to avoid overtime from labors.

There should be more decentralization in the higher authorities of

Forward Gear so that in absence of MD, there should be no delays

in completion of tasks.

5.5.9. REFERENCES

http://www.forward.pk/

http://gear.forward.pk/

https://www.google.com/
http://www.forward.pk/http://www.forward.pk/http://gear.forward.pk/http://gear.forward.pk/https://www.google.com/https://www.google.com/https://www.google.com/http://gear.forward.pk/http://www.forward.pk/