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TITLE

ACCOUNT MANAGEMENT

PLACE CITY

: :

Malanpur, Bhind Road, Near Gwalior Gwalior

A PROJECT TRAINING REPORT SUBMITTED IN PARTIAL FULFILMENT FOR THE AWARD OF THE DEGREE OF BACHELOR OF COMMERCE 2010-2011

GUIDED BY: SUBMITTED BY: Mr. Raj Kumar Sharma Bhargava sem SUBMITTED TO: Mrs. GOKARNAMALA LENDHE
Submitted To

Ashwini B.com Final Year 5th

DEPARTMENT OF COMMERCE

JAIN COLLEGE, GWALIOR (AFFILIATED TO JIWAJI UNIVERSITY, GWALIOR)

STUDENT DECLARATION

I Ashwini Bhargava hereby declare that this project training report entitled, ACCOUNT MANAGEMENT is carried out by me at JAIN COLLEGE under the guidance of MISS. ANSHUL SHRIVASTAV for partial fulfillment for the award of the degree of, Bachelor of commerce at department of commerce Jain College, Gwalior (M.P.)

DATE: PLACE: Gwalior.

(NAME & SIGNATURE OF STUDENT)

Ashwini Bhargava

GUIDE CERTIFICATE

It is certified that the project training report entitled, ACCOUNT MANAGEMENT is submitted by Mr. Ashwini Bhargava partial fulfillment for the award of the degree of bachelor of commerce at Department of commerce, Jain College, Gwalior (M.P.). It is a record of candidates own work carried out at Supreme Industries.

(Guide Name) Mrs. Gokarnamala Lendhe (Designation & department) (Asst. Prof. of Comm. & Mgmt. Dept.)

ACKNOWLEDGEMENT
The completion of project training report entitled ACCOUNT MANAGEMENT gives me an opportunity to convey my gratitudes to all those who have helped me to complete this research work successfully and well within time. I would like to express my deep sense of gratitude to give me an opportunity to do my project work at Supreme Industries. I am sincerely thankful to my guide for his ideas and suggestions during my project work which inspired me to put in best my efforts in the research work. I would be failing in my duties if I do not express my overwhelming sense of gratitude to Mr. Manoj Jain, Chairman, and Mr.Sanjay Jain & Miss. Mayuri chaudhry, Director, Jain College, and Gwalior (M.P.) I owe utmost thanks, Miss. Anshul Shrivastav Jain College, Gwalior (M.P.) for their valuable suggestions and discussions made throughout my research work. In the last I would like to thanks all individuals known or unknown who have helped me directly or indirectly during the research fellowship period. I must say that all of these great people have done their social job, which I will also like to oblige in form of similar or even better support throughout my life. (Name & signature of student) ASHWINI BHARGAVA

PREFACE
True learning is born out of experience and observations; practical experience is one the best types of learning that one can remember throughout the life. After four semesters in learning theoretical, aspects of administration & management the day comes to apply these in corporate world in content of modern industrial enterprise that has go through its different phases to achieve that corporate goals. The main object of practical training is to develop practical knowledge & experience & awareness about industrial environment & management in the student as a supplement to theoretical studies of administration & management in specific area like ACCOUNT MANAGEMENT .It increases the skill, ability & attitude of a student to perform specific job in corporate environment. Fortunately, I got golden opportunity to visit and complete my two months training at SUPREME INDUSTRIES Here, I got chance to see the functioning DB Activation and have lot of learning this subject.

INDEX
Sr. No. 1 2 3 4 5 6 7 8 CHAPTER NO. Introduction of project. Company Profile. Training Objective. Topic Description. Data Analysis & Representation Findings. Suggestions & recommendations Conclusion. Limitations. Bibliography PAGE NO. 1-2 3-12 13 14-18 19-22 23-24 25 26 27 28

CHAPTERS: NO. 1. Introduction of project. 2. Company Profile. 3. Training Objective. 4. Topic Description. Data Analysis & Representation 6. Findings. 7. Suggestions & recommendations 8. Conclusion. . Limitations.

PAGE

1-2 3-12 13 14-18 19-22 23-24 25 26 27

INTRODUCTION OF PROJECT

INTRODUCTION

The field of Accounting Management is concerned with the collection of resource consumption data for the purposes of capacity and trend analysis, cost allocation, auditing, and billing. of modern accounting systems. Since accounting applications do not have uniform security and reliability requirements, it is not possible to devise a single accounting protocol and set of security services that will meet all needs. Thus the goal of accounting management is to provide a set of tools that can be used to meet the requirements of each application. This document describes the currently available tools as well as the state of the art in accounting protocol design.. A companion document, RFC 2924, reviews the state of the art in accounting attributes and record formats. Managerial accounting is concerned with providing information to managers-that is, people inside an organization who direct and control its operation. In contrast, financial accounting is concerned with providing information to stockholders, creditors, and others who are outside an organization. Managerial accounting provides the essential data with which the organizations are actually run. Managerial accounting is also termed as management accounting or cost accounting. Financial accounting provides the scorecard by which a company's overall past performance is judged by outsiders. Managerial accountants prepare a variety of reports. Some reports focus on how well managers or business units have performed-comparing actual results to plans and to benchmarks. Some reports provide timely, frequent updates on key indicators such as orders received, order backlog, 1 capacity utilization, and sales. Other analytical reports are prepared as needed to investigate specific problems such as a decline in the profitability This document describes each of these problems, and discusses the issues involve din design

of a product line. And yet other reports analyze a developing business situation or opportunity. In contrast, financial accounting is oriented toward producing a limited set of specific prescribed annual and quarterly financial statements in accordance with Generally Accepted Accounting Principles

COMPANY PROFILE

Objective
Founded in 1942, Supreme is an acknowledged leader of India's plastics industry. Handling volumes of over 100,000 tones of polymers annually, effectively makes us the country's largest plastics processors. Not surprisingly, we also offer the widest and most comprehensive range of plastic products in India. Our 18 advanced plants are powered by technology from world leaders, and complement our extensive facilities for R & D and new product development. In fact, Supreme is credited with pioneering several products in India. These include Cross- Laminated Films, HMHD Films, Multilayer Films, SWR Piping Systems, PP Mats and more. We are seeking to perform strongly internationally as well. Exports remain a focal area of our operations, even as we add newer markets to our list worldwide. 2009 will see The Supreme Group turnover touch a projected Rs. 21,000 million (USD 500 million).

Vision and Mission:


To conduct business with ethical practices and Walk our Talk. To offer consistent Products and Services with uncompromising

quality supported by continuous improvements and innovations thereby exceeding Customers expectation.
To ensure the culture of utmost respect and empowerment to

individuals and be a catalyst in enhancing their competencies. Subscribing to the one world, one market view, Supreme's holistic approach to business is expressed in its global success. Strategic technological alliances with world leaders reflect our commitment to making products of uncompromising quality. Products that, in turn, are well received in the most discerning international markets. We are associating with the best in the world on one hand and embracing new frontiers on the other. With Schoeller Wavin Systems International Services GmbH & Co. KG of Germany for bottle crate moulds. And with Rasmussen Polymer Development AG of Switzerland for cross- laminated films. Our Plastics Piping Systems, for instance, have garnered a particularly good response, even from the most demanding customers. UK, Australia and New Zealand are among the markets that have appreciated these. Supreme's Cross-Laminated Films, likewise, have won over clients in the US and Australia. Multilayer Films, Material Handling Products, Furniture, Industrial Moldings, PP Mats, have all made 4 a global mark-- in places as diverse

as South Africa and South America, Russia and Singapore, Cyprus and Canada, Spain and Bangladesh.

CHAIRMAN
B.L.Taparia,Chairman

MANAGING DIRECTOR
MPTaparia,Managing Director

BOARD OF DIRECTOR
BVBhargava,Director

BOARD OF DIRECTOR
EBDesai,Director

BOARD OF DIRECTOR
SRTaparia,Director

ORGANIZATIONAL STRUCTURE AT UNIT LEVEL

STATE OFFICE / NATIONAL OFFICE

\ STATE OFFICE / NATIONAL OFFICE

UNIT HEAD (GM/DGM)

UNIT HEAD (GM /DGM)

MARKETING

CIRCULATION

PRODUCTION

FINANCE

HR / ADMINIST.

CHIEF MANAGER

SMD MANAGER

PRODUCTION MANAGER

FINACE MANAGER

HR /ADM. MANAGER

HUMAN RESOURCE:
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At Supreme, we value people as our most prized asset. Nurturing this resource is therefore a priority with us. By providing opportunities for enhancement of individual skills and personal growth, we seek Employees at all levels are encouraged to participate in quality management and technological update programmes. We reward the spirit of dynamism and proactive response, across the board, in our 2000 strong organization. to synthesize motivation of the self with the belief in the larger growth of the company.

PRODUCTION:

Molded furniture Storage & material handling products Petrochemicals XF films- and products Performance films Industrials Molded products Protective packaging Plastic piping system

LACQUER FINISH CHAIRS CHAIRS WITHOUT ARMS TABLES CHILDREN'S FURNITURE(CHAIRS) STOOLS

9 CHAIRS WITH ARMS

SOFAS CENTRE TABLES CHILDREN'S FURNITURE(TABLES)

LACQUER FINISH CHAIRS

CHAIRS WITH ARMS

CHAIRS WITHOUT ARMS

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SOFAS

TABLES

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10 10 10 12

TRAINING OBJECTIVE

To get knowledge and experience in the field of Accounting Management. To categorize and compute costs
o of production which is also known as cost accounting. Accounting

Management gives future prediction for expenses and profits which is known as budgeting. Management accounting also helps in seeking opportunities which could be exploited by the firm. In short this kind of accounting helps in classifying all the key aspects on which a companys decisions are based. To ascertain the actual importance of Account Management in Industries. My main motive is to do this training because if I will do M.B.A. in Future it will be help full for me in the field of Account Management and in My Business also.

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TOPIC DESCRIPTION

Account Management Description

Account management entails calling on certain accounts periodically. Significance 1. Account management is highly important to companies because each account is usually worth a significant amount of money. The account management professional is the key contact for all his accounts. He must call on these accounts, analyze their business situation, select the products that best fit their needs and close the sale. The account management employee must also be available to answer any questions and technical issues and ensure complete satisfaction among all their accounts. Identification 2. Other responsibilities of account management include presenting new products to all accounts, filling out sales orders or purchase invoices, collecting payments whenever necessary and making sure customers receive the exact products and services they ordered. For example, the process for implementing certain software into a company's system can be very complicated. Often, a number of steps are required to complete the process. It is up to the account manager to ensure that the implementation process is completed for each account. Function 3. Account management professionals must also make cold calls each month to offset possible attrition among their accounts. For example, some
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client companies may go out of business or decide to order from a competitive company. Though the account manager will likely try to save that account, inevitably some business will be lost during the year. Because most account management employees have certain sales quotas, they must offset their losses with new business. Education and Skills 4. Because of the technical nature of some clients, most account management positions require a college degree. Additionally, account management professionals must be self-driven, well organized, analytical and have excellent communication and management skills, according to the article "What Are The Job Responsibilities Of An Account Manager?" at degreedirectory.com. Account managers must also be trustworthy and reliable and have excellent computer skills. Salary 5. The average account manager earns between $38,982 and $65, 409 per year, according to June 2010 compensation data at payscale.com. These figures reflect both salary, commissions and bonuses

Accounting management of architecture The accounting management of architecture involves interactions between network devices, accounting servers, and billing servers. The network device collects resource consumption data in the form of accounting metrics. This information is then transferred to an accounting server. Typically this is accomplished via an accounting protocol, although it is also possible for devices to generate their own session records.

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The accounting server then processes the accounting data received from the network device. This processing may include summarization of interim accounting information, elimination of duplicate data, or generation of session records. The processed accounting data is then submitted to a billing server, which typically handles rating and invoice generation, but may also carry out auditing, cost allocation, trend analysis or capacity planning functions. Session records may be batched and compressed by the accounting server prior to submission to the billing server in order to reduce the volume of accounting data and the bandwidth required to accomplish the transfer. One of the functions of the accounting server is to distinguish between inter and intra-domain accounting events and to route them appropriately. For session records containing a Network Access Identifier (NAI), described in [8], the distinction can be made by examining the domain portion of the NAI. If the domain portion is absent or corresponds to the local domain, then the session record is treated as an intra-domain accounting event. Otherwise, it is treated as an interdomain accounting event..

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Account management is actually a synonym for account penetration. Just because you have sold one product or service to one business entity within an organization doesn't mean your job is done. Think of all the additional opportunities that may exist in the account! For example:

Does your company offer additional products or services that might be a "fit" for this customer? How many other business units, departments, divisions, and subsidiaries are potential prospects for your company's offering(s)?

Required Skills and Talents


A critical talent for successful account management is the ability to build relationships, as relationship selling is a very effective way to increase account penetration. Another critical skill/talent is organization. If you are going to manage large accounts effectively, you need to be willing and able to keep meticulous records. What kinds of records do you need to keep? Picture a large, threedimensional spreadsheet in your mind. In the left-hand column is a list of every product and service that you could possibly sell to a customer. Across the top of the spreadsheet are all of the business units, departments, divisions, and other business entities that make up your account's entire organization. Behind each business entity is every contact you know within that business entity. Hopefully your organization has some type of CRM (Client Relationship Management) software application to help you keep track of your answers to these questions. If you don't have access to a corporate CRM system, here are some other options:

You can purchase a software package like ACT! Or Goldmine


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You can subscribe to an online service like salesforce.com You can track information using a spreadsheet, database, or e-mail program

There More to Account Management:


There can be, but activities focused on increasing account penetration make up the critical core. Account management does become more complex if a team of people is managing a regional, national, or global account, but most of the complexity pertains to coordinating the activities of the team members. Don't make account management more complex than it needs to be! The basic goal is to maximize account penetration. Look for opportunities to sell every product and service in your portfolio to every business entity (business unit, department, division, etc.) in the account. Make maximum use of referrals and testimonials to help you initiate new relationships. Regularly remind all of your contacts of the full breadth of your portfolio of products and services. Be organized and keep meticulous records. If you do these things, you should be amply rewarded for your efforts! The primary objectives of the accounting function in an organization are to process financial information and to prepare at the end of the accounting period. Companies must systematically process financial information and must have staffs who prepare financial statements on a monthly, quarterly, and/or annual basis. To meet these primary objectives, a series of steps is required. Collectively these steps are known as the accounting cycle discussed in this post.

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GRAPHICAL REPRESENTATION

Balance Sheet
Year
Share Capital Reserves & Surplus Net Worth Total Assets Secured Loans Unsecured Loans Total Debt Net Block Investments Net Current Assets Debt to Equity (x)

200506
13.8

200607
27.6

200708
27.6

200809
25.4

200910
25.4

202.4
216.2 453.7 168.8 68.7 237.5 326.8 49.6 87.7 1.1

215.9
243.5 471.9 201.3 27.0 228.3 367.6 51.1 14.0 0.9

242.9
270.5 588.1 272.3 28.1 300.4 489.0 53.6 12.0 1.11

278.7
304.1 552.9 215.2 33.6 248.7 544.3 49.6 11.0 0.8

388.7
414.1 643.1 190.4 38.7 229.1 565.6 69.3 65.1 0.6

June Year ending, Rs in crores Consolidated Numbers

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Revenue Break Up
2008-09
Industrial Products 20% Plastic Piping 43% Consumer Products 12%

Packaging Products 25%

2009-10
Industrial Products 20% Plastic Piping 44% Consumer Products 12% Packaging Products 24%

June Year ending

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Net Sales Segment Wise


2250

Net S ales (R s Crore)


165

1500
106 74 412 478

103 803 682

750
302 164 321 149 256

460 385 180 310 212 381

217

2006-07

2007-08

2008-09

2009-10

Industrial Products

Consum er Products

Packag ingProducts

Plastic Piping

Others

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Year- Wise Growth in Percentage

PBDIT%
25% 20% 15% 10% 5% 0% 2006-07 2007-08 2008-09 2009-10

Industrial Products

Consumer Products

Packaging Products

Plastic Piping

Others

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FINDINGS

85 people of the respondents are aware about IMP. OF ACCOUNT MANAGEMENT IN INDUSTRY whereas 15 people are not aware about it.

The analysis on the 85 people of the respondents from the above graph we conclude that 60 people of respondents attend the events 1-5 in a month whereas 25 people of respondents attend 5-10 events. The analysis on the 85 people of respondents from the above graph we conclude that 50 people of respondents thinks that events helps in sales & branding whereas 20 people were not and 15 people cant say. The analysis on the 85 people of respondents from the above graph we conclude that 70 people of respondents thinks event management is a part of marketing whereas 10 people not in favor and 5 people cant say. The analysis on the 85 people of respondents from the above graph we conclude that 70 people of respondents think events helps in media whereas 10 people not in favor and 5 people cant say. The analysis on the 85 people of respondents from the above graph we conclude that 80 people of respondents think that conference, promotion, launches, road shows etc are the part of events whereas 5people not in favor.

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The analysis on the 85 people respondents from the above graph we conclude that 60 people of respondents think that Events helps in direct interaction, building relationship and brand value whereas 15 people not in favor and 10 people cant say.

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SUGGESTIONS

Under the study done in Gwalior region I observed that Supreme Industries is having good Reputation among many

people but it should work on the Account managing to make a good stand and not only in the city but also in whole Nation. One thing I found that people are not much aware about Account management properly thats a part of Industries which could be in knowledge of people. Account management should be strong according to the required Industries Management. Account management should be kept in various fields of companies and it is very essential to manage account in industries according to new creativity.

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CONCLUSION

The entire project proved to be of immense help in my learning process. I came across the various practicalities existing in the performance appraisal system.

During the study of the project I got to know various aspects of the training & development such as how it helps to get a insight into the strong and weak areas of the employees in terms of the effective performance of roles , activities , styles , traits, qualities, competencies (knowledge , attitude and skills), impact on others etc. It also helps in performance Accounting System and preparing action plans accordingly to enhance the performance of individual or group of individuals. Hence I would like to conclude by mentioning, that the corporate experience which I got in SUPREME INDUSTRIES, regarding my project on ACCOUNTING MANAGEMENT shows how much importance is given to the training and development of employees in SUPREME INDUSTRIES for enhancing the employees skills and knowing their development needs by the top Accounting management and their commitment play a very important role in the successful implementation and use of the system.

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LIMITATIONS

The Account Management suffers from certain Limitations as follow: Based on Accounting Information: Account Mgt. is based on data of Financial and Cost Accounting. Historical data is used to make future decisions. The correctness and effectiveness of managerial decisions will depend upon the quality of data on which these decisions are based. If financial data is not reliable then Account Mgt. will not provide correct analysis. Lack of Knowledge: the application of Account Mgt. will be useful to person connected with Decision making process as they have proper understanding of Account Mgt. and related subjects such as Statistics, Economics, Principles of Mgt, Engineering etc., Intuitive decision: In Account Mgt. decision making based on facts and figures, there is a tendency to make decisions intuitively. Mgt may avoid lengthy courses of deciding things and may take an easy course of arriving at decision, using intuitive. Iterative decisions limits the usefulness of Account Management. Not an alternative to Administration: The tools and techniques of Account Mgt. provide only information and not decision. Decisions and their implementations are done, by Mgt. So it has supplementary service function and has no final say in taking decisions and their implementations. Top heavy structure: Introduction of this system is costly affair and can be used by big concerns only. Smaller concerns cant afford to use this system because of heavy cost. Evolutionary state: Account Mgt. is only in a developmental stage. The technique and tools used by this system give differing results. The conclusions taken from analysis and interpretation are not the same. It will take some time to take a final shape. Psychological Resistance: The Installation of Account Mgt. involves basic changeless in organizational setup. New rule and regulations are to be framed which affect a number of personnel and hence there is a possibility of resistance from some or other.

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BIBLIOGRAPHY

REFERENCE: www.supreme.co.in

www.google .com
http://en.wikipedia.org

www.Questionnaire .com

AUTHORS:
1. Earl D. Honeycutt, John B. Ford, Antonis C. Simintiras (2003), Sales management: a global perspective 2. Lynette Ryals, Malcolm McDonald (2007)

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