A

PROJECT REPORT ON
Internship In “SMDL & ASSOCIATES . Ltd.”

SUBMITTED TO

ABHINAV EDUCATION SOCIETY

COLLEGE OF COMPUTER SCIENCE AND
MANAGEMENT AMBEGAON BK.
PUNE.411046

(Affiliated to SAVITRIBAI PHULE PUNE

UNIVERSITY)

IN PARTIAL FULFILLMENT OF BACHERLOR

OF BUSINESS ADMINISTRATION
(T.Y.BBA)
ACADEMIC SESSION 2021 –
2022

SUBMITTED BY Mr. AJAY ANANDA CHORMALE (Roll NO. 21, TYBBA)

UNDER THE GUIDANCE OF

PROF. NANDINI PATHAK
 ABHINAV EDUCATION SOCIETY’S COLLEGE OF COMPUTER
SCIENCE AND MANAGEMENT

This is to certify that academic goal title of the internship report on “ SMDL &
ASSOCIATS” is a confide work which is successfully carried out by AJAY ANANDA
CHORMALE T.Y.B.B.A (FINANCIAL MANAGEMENT) for the partial fulfilment of
BBA Degree from Savitribai Phule Pune University under the guidance of PROF.
NANDINI PATHAK for the academic year 2021-2022.

(External Examiner)

Seat No: (Internal

Examiner)
 ACKNOWLEDGMENT

I would like to thank the management at SMDL & ASSOCIATS or giving me the
opportunity to do my 70 hrs internship training in their esteemed organization.

I am highly obliged to for granting me to undertake my training at Pune Branch.

I express my thanks to all company managers under whose able guidance and direction. I
was able to give shape to my training; their constant review and excellent suggestion
were helpful throughout the project.

My thanks to the entire executive who helped me gain knowledge about actual working and
the process involved in various departments.

PLACE: PUNE

DATE:

Mr. AJAY ANANDA CHORMALE

(TYBBA)
 Index

S. No Content Page No
1 Introduction 1–2
2 Company Profile 3–8
3 Accounting Department 5 – 17
4 Conclusion 18-20
5 Log sheet 21-22
6 Letter Head of the company 23-24
Introduction

1
 Introduction

Internship program has become the bridge for those who want to
enter to corporate level from the college life, through internship I got
to know the real working environment that. During my internship, I
got a chance to work in the department to know about how as
companies stock audits , Accounting & services as
applications used by various financial institutions. The term I
spent at Eagle S M D L & A S S I C I A T E S was more
engaged with learning part through assignments. All my
experience helped me realize parts like grouping work, work
environment, peering support, carried out in the organization.
Thus, the internship duration provided me with the opportunity to
broaden my knowledge, acknowledge my strengths/weakness that
would be more helpful to shape up my career in the future.

2
Company Profile

3
 Company Profile

SMDL & ASSOCIATES is a private compay

incorporated . It is classified as non government
company and is registreted at registrar of company,
PUNE.
Director of SMDL and associateds are name
Chandrakant Yashwantroa , Shinde Deepa Vishnu ,
Lage Shashikant Balashaheb and Doiphode
Prakash Bhikan .

4
 ACCOUNTING
DEPAERTMENT

The function of the Accounting department 

The accounting department’s focus is on the day-to-day financial activities (the inflow and
outflow of money) in the company. 
It also deals with the processing of all accounting information. It records accounts payable
and receivable, fixed assets, payroll, inventory, and other accounting elements.
The function of the Finance department 
The financial department’s focus is on managing the company’s assets and liabilities, with a
view towards the future. While small businesses tend to combine the departments, corporate
organizations have separate functions and roles for both departments.
No organization can operate profitably without an accounting team. It is the lifeblood and
center of any business or organization. To help accountants and accounting departments
worldwide, we’ve compiled a list of the seven essential functions that every accounting
department needs to master for seamless operations. Let’s get started.

5
ACCOUNT PAYBLE

#1 Accounts Payable
Accounts Payable (AP)
Accounts payable/cash disbursement refers to money that goes out from the business and is
recorded as a liability in the accounting book. The accounting department keeps records of
the goods and services that your company pays for and ensures that all your business
expenses get paid on time.
It also keeps track of all scheduled payments in the organization, such as inventory, payroll,
and other business-related expenses. It receives invoices from vendors, records them, and
then processes the payment checks.
6
The accounting department also helps businesses identify areas to cut costs and save money.
If there are opportunities to get discounts from paying vendors early, the accounting
department will point it out to the appropriate decision-makers.
It is best to have different individuals in your accounting department performing different
roles. You can assign someone to record the accounts payable and put another person in
charge of signing the checks. Businesses often use AP automation software to streamline this
process.

7
ACCOUNT RECIEVABLE

 Accounts Receivable
 Accounts receivable refers to money/cash or receipts that the business receives. The
accounting department is in charge of tracking and accounting for cash payments by
customers for goods sold and services rendered. 
 It is also responsible for creating and tracking invoices. The accounting department
also sends friendly reminders to ensure that customers pay up their invoices when due.

8
The accounting department records accounts receivable as assets. This includes the
revenue that the business makes and the invoices that are yet to be fulfilled. 
It is best to assign the different accounts receivable tasks to different individuals in your
accounting department. You can put an employee in charge of recording the cash payments
and put another in charge of bank deposits, for instance.
Benefits of accounts receivable automation
Improve cash position
Save time and money
More accurate and timely data
Improve customer communication, customer service, and satisfaction
Reduce administrative costs
Minimize credit risk 
Shorten the sales to payment cycle

9
BUDGETING

Budgeting

Your accounting department is responsible for ensuring that other departments in the
company stay within the limit of the company’s budget. It tracks expenses and other
transactions to protect the company from excessive spending.

10
Payroll and Monitoring Employee Time Offs

 
Payroll management is a vital function of the accounting department. They keep
employee morale high by paying their earnings on time regularly. 

The department needs to ensure that employees’ earnings are up to date. It also
estimates the wages or salaries left after the appropriate deductions have been
made. 

11
The role of the accounting department includes calculating employees’ bonuses,
benefits, and commissions accurately. It also tracks employees’ time off, such as
sick leave, PTO, vacation, and absence.

Payment of government taxes on behalf of the company is another function

performed by the accounting department. Some of the taxes include FICA,
unemployment, social security taxes, federal and state withholding, and workers'
compensation.

Qualified accountants in the accounting department assess your taxes and ensure

you stay compliant with the latest tax rules. It also tracks and makes tax
payments to the appropriate state and federal government agencies.

Failure to make tax payments at the appropriate time is costly and can attract a
steep penalty if done repeatedly. Tax evasion is a crime that businesses can find
themselves committing without a functioning accounting team. The accounting
department ensures that your business does not miss a tax deadline.

Additionally, payroll is a critical and complex accounting function that every

accounting department needs to master. Some organizations even outsource payroll
functions to external accounting agencies that specialize in payroll management.

Benefits of an automated payroll management system

A payroll management system automates your payroll processes, making it easy to
improve your productivity. Some of the benefits of using an automated payroll
software are:

 Lower costs
 Saves time
 Quick and easy payroll reconciliation
 Regular and accurate tax updates

 Data security
 Accurate calculations
 Increases productivity and promotes transparency
 Reduces the risk of human errors
 Simplifies the payroll process

12
Inventory Cost Management

Inventory refers to the total number of goods that a company owns in its warehouse
or building. The accounting department is responsible for inventory cost
management. It keeps track of the organization’s inventory costs such as labor, raw
materials, and other overhead factors. 

13
Additionally, although the accounting department would ideally want to lower
inventory costs, it would need to ensure it's not at the expense of the product quality.
The department must also aim to find a middle ground between satisfying the
customer and increasing the business profit margins.

Businesses make different purchases such as raw materials for goods, types of
machinery, and more throughout the year. Some are bought on credit and financed
with loans. The accounting department records and tracks the business liabilities and
ensures payments are processed on time. It also keeps detailed records of all
the cloud inventory purchases made by the company.

Benefits of inventory cost management

 Automates manual tasks

 Reduces inventory costs
 Increased sales and profits
 Better customer experience
 Increased productivity and efficiency
 Reduced risk of overselling
 Better inventory accuracy
 Avoidance of stock-outs and excess stock

14
Cash Collections and Systematic Record Keeping 
The accounting department is responsible for identifying, tracking, and recording all
cash received from sales and other sources in the company. Apart from recording it
in its database, it also ensures that money is paid into the appropriate checking
account.

Accountants ensure that there is a steady flow of cash in the business for its day-to-
day operations. Additionally, they are tasked with balancing the business checkbook.
Large corporations assign most of the cash flow responsibilities to the treasurer. 

A key function of every accounting department is the systematic record-keeping of

the company’s financial transactions. Modern accounting departments make use
of accounting software to automate their financial record-keeping duties. The best
accounting software in the market is QuickBooks, Xero, FreshBooks, and
other QuickBooks alternatives.

15
Reporting and Financial Statements
Another function that the accounting department plays in the organization is the
delivery of financial statements. The main reason why the accounting department
collects financial information is to prepare accurate reports and financial statements.

Companies depend on these financial reports to make better decisions, forecasts

and prepare budgets. These reports prepared by accounting departments also
include internal communications. Additionally, profit or loss can be determined and
sustained better with the availability of these  reports and statements.

The accounting department is also responsible for producing end-of-the-year

financial statements. The company uses such reports to prospect leads,
communicate with investors and other professionals contributing to business growth. 
16
Providing financial reports and statements at regular intervals is a vital function of the
accounting department. Some examples of financial reports and statements include
a balance sheet, statement of activities (income statement), and cash flow
statement. 

17
Legal Compliance and Financial Control
Another vital function that every accounting department needs to master is tracking
and staying compliant with relevant financial laws.

 The accounting department is tasked with handling the tax functions in

the company. They track all taxable income the company has to pay, set
money aside for it, and ensure timely payments to avoid tax penalties.
 It keeps the company on the right side of the tax laws and tracks how tax
changes affect the business. The taxes it files on behalf of the company
include income taxes, sales taxes, property taxes, and franchise tasks.
 The department also bears the burden of maintaining financial controls in
the organization. It does this via reconciliations and staying compliant with the
applicable standards of accounting. 
 Lastly, the accounting departments also need to detect fraud and theft.
Additionally, the team is also taxed to ensure the best practices are in place to
save the business from huge losses.

18
Conclusion

19
 Conclusion

After complete my internship, I had been exposed to an supervisor in Accounting working

life. Throughout my internship, Along my training period, I realize that observation is a
main element to find out the root cause of a problem. Not only for my project but daily
activities too. During my project, I cooperate with my colleagues and operators to determine
the problems. Moreover, the project indirectly helps me to learn independently, discipline
myself, be considerate/patient, self-trust, take initiative and the ability to solve problems.
Besides, my communication skills is strengthen as well when communicating with others.
During my training period, I have received criticism and advice from engineers and
technician when mistakes were made. However, those advices are useful guidance for me to
change myself and avoid myself making the same mistakes again. Apart from that, I had also
developed my programming skills through various programs that I had done. the activities
that I had learned during industrial training really are useful for me in future to face
challenges in a working environment. Throughout the industrial training, I found that several
things are important:

A) Critical and Analytical Thinking

To organize our tasks and assignment, we need to analyze our problems and assignment, and
to formulate a good solution to the problem. We would have to set contingency plan for the
solution, so that we are well prepared for the unforeseeable situations.

B) Time Management
As overall technician and programmer are always racing against tight timeline and packed
schedule, a proper time management will minimize facing overdue deadlines. An
effective time management allows us to do our assignment efficiently and meet our
schedules.
Scheduling avoids time wastage and allows us to plan ahead, and gaining more as a result.

C) Goal Management
Opposing to a Herculean goal seemed to be reachable at first sight, it is better to sub-divide
the goals to a few achievable tasks, so that we will be gaining more confidence by
accomplishing those tasks.

D) 22Colleague Interactions
In working environment, teamwork is vital in contributing to a strong organization.

20
Teamwork is also essential in reaching the goals of the organization as an entity. Thus,

21
communicating and sharing is much needed in the working environment. Therefore, we
should be respecting each other in work, and working together as a team, instead of working
alone. This is because working together as a team is easier in reaching our targets, rather than
operating individually.

I would like to once again appreciate everyone who has made my industrial training a superb
experience

22
Log Sheet

23
 Log Sheet
Date Time Total Details of work done
Hours

From To

01-05-2022 11 am 6 pm 7 Accounting of Omkar

medical & Distributors

02-05-2022 11 am 6 pm 7 Accounting of Omkar

medical & Distributors

03-05-2022 11 am 6 pm 7 Accounting of Prathamesh

constuction

04-05-2022 11 am 6 pm 7 Accounting of Prathamesh

constuction

05-05-2022 11 am 6 pm 7 Accounting of K-sam

&insignia

06-05-2022 11 am 6 pm 7 Accounting of K-sam

&insignia

07-05-2022 11 am 6 pm 7 Accounting of Kapil

Enterprises

08-05-2022 11 am 6 pm 7 Accounting of Kapil

Enterprises

09-05-2022 11 am 6 pm 7 Accounting of Network

techsol

10-05-2022 11 am 6 pm 7 Company Audit PMC water

supply pune

24
Letter Head of the Internship Provider Organization

25
26