Internship Report

PRISM STATE AND BUILDERS

Submitted By: Shahzaib Ahmed

LBBA 3rd

Session: 2023

Supervised By:

Prof. Dr. Irfan Ullah Afreen

Quaid I Azam School of Management Sciences

Quaid I Azam University, Islamabad

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LIST OF ABBREVIATIONS

UCS User Coordinate System

CDA Capital Development Authority

DHA Defense Housing Authority

BTESC Business And Technology

Education Council

RDA Rawalpindi Development

Authority

CSC Certificate of Statutory

Completion

CPEC China-Pakistan Economic

Corridor

ECR Establishment Check Register

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INTERNSHIP CERTIFICATE

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ACKNOWLEDGEMENT

Thanks to almighty “ALLAH” the most merciful and beneficiary who gave me

enough strength to complete this task successfully.

I am also thankful to the Quaid-I-Azam school of management sciences (QASMS) for

providing me such an opportunity to practice my knowledge and gain experience and some

new ideas.

Also, I would like to express my deep gratitude to Prism estate and builders for providing

me such a healthy platform for learning and grooming myself I am also Thankful to Mr. Asad

Khattak (C.E.O) Mr. Ayan Khan (Managing director) all other staff of Prism estate and

builders for helping me and sharing the required knowledge More ever I would like to thanks

Dr. Ali Raza for supervising me and for providing me the guideline to complete this report.

Additionally, I would like to thank my friend’s Muhammad Idrees, Irfan Haider and a like for

their moral support.

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EXECUTIVE SUMMARY

This report aims at studying and analysis of Prism estate and builders the data of this report

is based on 8 weeks of study, research and practical work at this company this report provides

insights into the Prism estate and builders what actually are they doing about their work,

duties and responsibilities their organizational culture and structure.

The methodology in this report is based on two types of data. One is primary data which is

based on the discussion with company staff and other is secondary data which is based on

based on internet, journals, and reports.

This report provides information about mission and vision statement of Prism estate and

builders. The SWOT analysis is also discussed and likewise some recommendations are given

which are as there must be experienced and relevant staff available to provide services on

time. In this competitive era the system used must be computerized and must be updated to

latest technology. There must be training sessions to boost the morale of employee and update

them with new knowledge and skills. In order achieve goals and objectives. it is very

important to have customer satisfaction for the organization.

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TABLE OF CONTENTS

List Of Abbreviations

Acknowledgement

Executive Summary

Chapter No# 1

History Of Deal Properties Consultnats

Chapter No# 2

Week 1&2

Week 3

Week 4

Week 5 And 6

Chapter No#3

Swot Analysis

6.1 Strenghts

6.2 Weakness

6.3 Opportunities

6.4 Threats

Chapter No# 4

Conclusion And Recommendation

Plagarism report ………………………………………………………………………………46

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Chapter NO# 1

HISTORY OF Prism estate and builders:

Prism estate and builders is a real estate marketing company which is working for

more than 7 years in sales and marketing fields which provide guidance o the clients

that where to invest their money. Its offices are in Rawalpindi and Islamabad

It has strategic partners which are working together on other different projects. Prism

estate and builders is the company adopted the unique concept of one stop solutions.

It is dealing with not only Real Estate, but it deals with interior designing, Manpower,

Events, Logistics, Maintenance. CEO MR Asad Khattak started this company from

scratch made it successful in a very short span they have very good customer base

now. Company has maintained very good relations with its customer’s employee and

all the stack holders. At the start there were just small group of people with the vision

to establish a company and provide feasible solutions for all customers. Now they

have highly skilled human capital which is highly focused towards delivering quality

services their customers in Islamabad

1.1 Nature of the Organization and business volume:

A global leader in real estate marketing, sales and property, Prism estate and

builders, The Resource Group, earned a solid reputation for providing clients with

vital support services.

A few of the industries that Prism estate and builders has professionals include real

estate, Marketing, housing societies, sales and construction.

Prism estate and builders has prides itself as one of the leaders in the acquisition and

liquidation of real estate mainly dealing in Blue world city, kingdom Valley,

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Parkview city Islamabad, NOVA city Islamabad, NOVA City Peshawar, Silver city

Taj residencia, multi garden B-17 and Faisal Hills. Prism estate and builders assist

customers to meet their demands by giving them the best possible offers in the No

Hassel Way. Infiniti aspires to offer customers with the most reliable investment

opportunities. To attain customer’s desired resources switch on to Network with

numerous Investment Opportunities.

Prism estate and builders -The Resource Group has an atmosphere were

people with energy, imagination, and obligation work together to fulfil ambitious

aims. We all effort for the maximum standards of professional quality and reliability.

What is real state?

Real estate includes both the land and any enduring, natural or artificial, structures or

enhancements connected to the property, such as a house.

Real estate is one sort of real property. Contrast this with personal property, which is

not permanently attached to the land and includes items like automobiles, boats,

jewelry, furniture, and farm equipment. Despite the fact that they are sometimes used

interchangeably, land, real estate, and real property have some differences. Land

includes the trees, minerals, and water that are present on the earth's surface up to its

center and above it in the upper atmosphere. The immobility, invulnerability, and

distinctiveness of land, where each parcel of land differs regionally, are some of its

physical properties. Real estate includes the land as well as any enduring human

modifications.

There are certain types of real estate business and are mentioned below

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Residential real estate: “Any property used for residential purposes. Examples

include single-family homes, condos, cooperatives, duplexes, townhouses, and

multifamily residences”

Commercial real estate: “Any property used exclusively for business purposes, such

as apartment complexes, gas stations, grocery stores, hospitals, hotels, offices, parking

facilities, restaurants, shopping centers, stores, and theatres”

Industrial real estate: “Any property used for manufacturing, production, distribution,

storage, and research and development”

Land: “Includes undeveloped property, vacant land, and agricultural lands such as

farms, orchards, ranches, and timberland”

Special purpose: “Property used by the public, such as cemeteries, government

buildings, libraries, parks, places of worship, and schools”

1.2 Vision

Prism estate and builders management founded this prestigious real estate marketing company

with the vision to revolutionize the Pakistani real estate market by introducing agile marketing

techniques to maximize the benefit of the guests. Customers and progress and grow as a

leading real estate marketing company.

1.2 Mission

Our mission is to provide our clients with advanced, tailored, and comprehensive marketing

solutions that maximize returns. We aim to bring the highest real estate business standards and

professionalism to our dealings to deliver excellence in our services and provide our clients

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with optimized real estate deals. Prism estate and builders is on a mission to be the client’s

preferred choice for real estate marketing and consulting services.

1.3 Achieving aspiring objectives

The Resource Group provides its staff with surroundings in which they can flourish.

It look for people with vitality, inspiration commitment and provide them the tools

they require to achieve ambitious aims, while struggling to accomplish the maximum

standards of professional brilliance and integrity. The Resource Group offers a variety

of roles to satisfy numerous people. A team of innovation and Commitment keeps

clients driven with the essence of winning. Workplace diversity keeps the atmosphere

sincere, fascinating and encourages experimental knowledge. Yield as fast as

customer want. Teaching and growth programs for all levels confirm a high expert

standard between team. Above all, its commitment to it Improve durable truly

worldwide businesses is what makes them unique, that's why it calls itself the ‘local

multinational'. In coordination with Bahria Town it has established outclass and

modern societies housing thousands of families enjoying a whole living experience.

1.4 Business volume:

Prism estate and builders is dealing with many running projects some of them

have been completed. It has dealt with more than 3568 projects. Its size is too huge

that it wasn’t enough time to know this organization completely within only 8

weeks. If I start writing about all of its project then it wouldn’t be possible for me.

Infiniti’s large projects are Rock Bistro Terrace, Rock Bistro Garden, Rock Bistro

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“simply not dining”, 2F2F Formula Karting Pakistan, Laguardia (stock exchange),

and crimson group. These are the most famous projects.

1.5 Competitors:

Prism estate and builders has a great advantage that there is no company I have seen

which has on stop solution, so there is no competitors as a whole against the company

but still there are competitors which are trying to compete Prism estate and builders

partially.

Prism estate and builders is dealing with Real Estate so there are many companies

which are dealing with it some of the famous Real Estate companies are New York,

Vertex, Star marketing (pvt.) Ltd Gulberg Greens, Prism, Rubbani Associates

PROPMATH is dealing with logistics so there are some competitors also like Agility,

Free line movers (packing, forwarding and unloading), Degron (forwarding and

clearing).

1.6 Introduction of all departments:

PROPMATH has following departments in its main office

1. Marketing

2. Human Resources

3. Financial Accounting & Revenue Assurance

4. IT department

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5. Interior decoration

6. Events

7. Property

1.6.1 Marketing

One of the key divisions of every telecom sector is marketing.

The marketing department at Prism estate and builders is in charge of:

Identifying devoted customers;

Designing marketing initiatives that will benefit devoted customers;

And maintaining current profiles of devoted customers, including their purchasing

histories and habits.

Maintaining financial records of costs incurred, conducting frequent customer

campaigns, and dealing with issues related to paying vendors according to invoices

• Put the customer first

• Be aware of the competition • Locate & Manage Outside Vendors.

• Invent fresh ideas.

• Control a budget.

• Promotional coordination

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 • Decide on a strategy, prepare an attack, and carry it out

1.6.2 Human Resource department:

HR department is responsible for

 Recruitment Process, Interviews, Candidate evaluation, Training programs

employees, Career Development programs. Human Resource Planning

 Training and Development

 Human Resource Information system

 Give compensation and benefits at PROPMATH, following benefits are given

phones facility, overtime and

 Paid Vacations, Gratuity, Provident fund etc.

 In-house Training and External Training

 Orientation

 Timely issuance and record keeping of Salaries of all employees.

 Timely execution of payroll and related reporting pertaining to payroll.

 Managing attendance Management System

 Employee payroll taxation and related queries

 Implementation and activation of new employee joining benefits

 Issuance and record keeping of all non-salary related employee letters

 Timely conclusion of final settlement and clearance of resigned employees

 Personal management and up to date record keeping of all personnel

documents in personnel files

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1.6.3 Accounts Department:

This department is responsible for

 Financial issues related to the

company

 Looks after the fixed assets of

infinity.

 Looks after the liabilities to be paid

 Responsible for developing t-accounts which specify detail of each

account separately. Looks after the finances, controls the budgets and

investments made by country from treasure.

 Payments for PTCL, Mobil ink, and kitchen expenses.

Making balance sheets, profit, and loss statements

 Manage CEO personal expenses

1.6.4 Information Technology:

MIS is responsible for evaluating and implementing new technology systems, to

insure proper and efficient utilization of technology in order to facilitate cost-effective

and mission critical services to community. Maintain the necessary service level for

response to user and system issues. Maintain a secure technology environment with a

high availability necessary for Public Safety operations and disaster considerations.

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Maintain and implement best practices while identifying technology solutions that

streamline business practices.

1.6.5 Real Estate

Prism estate and builders is a company that deals in acquisition and liquidation of real

estate. Now it offers modern and luxury apartments/houses/plots in all over

Pakistan in following categories

 All CDA Sectors in Islamabad

 Bahria Town & DHA

 Residential/Commercial

 Plots/Land

 Apartments

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CHAPTER #2

PERSONAL WORKING AND LEARNING

Duration of our internship was 6 to 8 weeks in total. I wanted to do an internship of 8

weeks and I applied for internship in many places However, I did get any response on

time. So, I did an internship of 8 weeks in Prism estate and builders. It began on 22-

07-2022 and ended on 22-09-2022.

2.1 Week 1&2

Officially I joined the Prism estate and builders on 22 of July 2022. Mr. Asad Ullah

the HR manager welcomed me warm heartedly on 22th of July Mr. Asad Ullah

introduced himself and other workers who were working with him to me, he told he is

from Islamabad he has a MBA degree specialization in marketing and he has a good

grip on commercial leasing , comparative market analysis, sales prospecting, and

investment strategies so on first day only human capital of the organization was

introduced to me and on 16th August means on 2nd day of internship HR Department

introduced me about the Rules and Regulations of his company he handed over me a

slight book where rules of his organization along its vision & mission and projects

descriptions were written in detail he told me you should take two days to read this

business document and you have to report me on 25th of July. I took 2 days to study

the document thoroughly where the rules and other details were written. First chapter

I studied was about the rules and regulations of Prism estate and builders.

Professional conduct:

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In this portion the conduct of agents and agent’s representative were laid down in

detail

1. An agent must be problem solving mind-set

2. Honesty and integrity

3. Self-motivated entrepreneurs

4. Engaging personalities

5. Understand the local housing market,

6. Build a network of connections

Then, on the following page, real estate regulations were laid out. Similar to other

nations across the world, Pakistan likewise has law enforcement organizations in

charge of overseeing the purchasing and selling of real estate. The Transfer of

Property Act of 1881, the Land Revenue Act of 1968, the Stamp Act of 1898, and the

Registration Act of 1908 are the most significant laws that control real estate

ownership, titles, sales, leases, and other transactions. In Pakistan, there are several

additional local laws and rules that affect real estate transactions. However, to

complete transactions smoothly and prevent fraud, Pakistani people must scrupulously

follow by these real estate laws. For this reason, it's crucial for every employee and

intern to be familiar with the governmental regulations governing the real estate

industry. There were four main acts.

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2.1.1 Registration Act 1908

The real estate registration was initially confirmed by the Registration Act of 1908.

There are sixteen provisions in the Registration Act of 1908. The Registration Act of

1908 contains all the necessary details concerning the creation of registration and

specifies the locations where properties may be registered. It is a rather

comprehensive statute that provides clear guidance for ordinary people on all issues

relating to real estate in Pakistan.

2.1.2 Stamp Act 1898

The Stamp Act of 1898 mandates that buyers and sellers of real estate in Pakistan pay

the government a set price in exchange for the stamp papers required to create the

legal agreements or contracts. Using the Stamp Act of 1899, real estate buyers and

sellers can legally legitimize their transactions. Depending on the nation's economic

state, the cost of stamp papers may change.

2.1.3 Land Revenue Act 1968

The whole organization and hierarchy of Pakistan's land and revenue department are

shown in the Land Revenue Act of 1967. The Land Income Act provides precise

instructions for collecting land revenue. The Land Revenue Act of 1967 also provides

guidance on the crucial concerns of performing surveys, dividing land, delineating

boundaries, and arbitrating disputes.

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2.1.4 Transfer of Property Act 1881

Purchase of real estate in Pakistan has never been easy or risk-free. The land records

system is outdated, and there are gaps and traps that might deceive unwary buyers into

falling victim to fraud. Therefore, before engaging in any transaction or signing any

contract, consumers should thoroughly and shrewdly investigate the seller's property

title. The Transfer of Property Act of 1881 gives buyers and sellers instructions on

how to transfer real estate in Pakistan and provides information on who is qualified to

conduct business. It has an immediate effect on the purchasing and selling of real

estate nationwide. The Transfer of Property Act of 1881 clarifies who has the right to

transfer a property, how it can be transferred, and what kinds of goods are

transferable.

Real estate agents and other parties involved in real estate transactions must have a

basic understanding of these regulations in order to prevent mistakes while buying

and selling properties in Pakistan because these rules have a significant impact on the

selling and buying of property in Pakistan.

After reading the document I reported to Mr. Gondal just after reporting Mr. Gondal

conferred me another set of a thick magazines like documents, he told me these are

documents of main housing and real estate projects where they buy or invest in

properties, and they sell them further he told me from 13th of April to 16th of April

you have to read these all documents in full detail.

The documents were of

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2.1.5 Gulberg housing scheme

IBECHS's Gulberg Islamabad project. Although there are other housing societies in

Islamabad and Rawalpindi, the stunning setting of Gulberg Islamabad is comparable

to heaven in beauty. From Goldberg, it takes just 30 minutes to get to other areas of

Islamabad, 15 minutes to the airport, and 10 minutes to the G.T. road. Gulberg

Residential and Gulberg Green were lovely visions that are now a reality. There are

numerous colleges, universities, and schools being built in the Gulberg Knowledge

Village. Shopping complexes and hotels with five and three stars are also being built.

In Gulberg, Islamabad, your dreams can come true.

2.1.6 Defence housing scheme

Within Pakistan's Rawalpindi and Islamabad metropolitan area is the Defense

Housing Authority Islamabad, a wealthy residential or housing society. [2] DHA is

split into five sections and borders the province of Punjab. [3] The Pakistan Armed

Forces Welfare Department originally developed this neighborhood in 1992 with the

intention of housing military and civilian families, however this has since changed.

2.1.7 Bahria housing scheme

Over 100,000 people live in the initial project, the gated community, which has a

series of projects. It is broken up into many projects and phases. Bahria produces its

own electricity and sells it to its residents through BTESC, unlike other housing

societies in Pakistan. In Islamabad and Lahore, the Bahria Town developments were

each operating 11 and 8 megawatts of independent generating capacity. Bahria Town

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has also built four grid stations using its own resources and offers its residents

underground lines.

2.1.8 Top city 1

It is a thoughtfully designed home development where construction is moving quickly

on several development regions. The Rawalpindi Development Authority and the

Islamabad Development Authority, or RDA & IDA for short, have also given their

approval to TopCity-1.

2.1.9 Capital smart city

Due to the increasing need for housing in Rawalpindi and Islamabad, CSC plans to

construct a high-quality housing complex on the M2 Motorway close to the New

Islamabad Airport, which is located on the western route of CPEC. CSC wants to

establish itself as Pakistan's first smart city and serve as an example of sustainable

growth. And other documents included were off and above are other few projects

which I studied about them in documents.

Ghori town

Pakistan town

Korang town

Faisal town

Islamabad cooperative housing scheme

Faizal a housing scheme

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Then after reading these documents fully MR. Asad Ullah took me with himself and

visited these different schemes personally for different transactions so from 17th of

April to 23rd of April.

2.1.10 Residential plots

5 Marala

Price of residential plots of 5 marala starts from 340k to 290k.

10 Marala

Price starts from 1800k to 670k

1 canal

Price starts from 2.1million to 1.1million

2 canal

Price starts from 3.5 million to 1.9 million

2.1.11 Farmhouse plots

Size of plots started from 4 kanal to 10 kanal and their prices were in between 9.5

million to 60 million

Houses in Gulberg were sold down

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2.1.12 Apartments

There were three types of apartments in Gulberg 1 bed, 2 bed, 3 bed their prices

started from 12,500,000 to Rs 13,000,000

Then on 18th of April he took me to bahira housing scheme where he introduced me to

the projects going on bahira town like safari valley, overseas enclave, bahira town

garden city, Aawmi valleys apartments, he also told me about different types of plots

for sales with their prices.

2.1.13 Plot size and prices:

Plot Size: 5 Marla (110 Sq,y )

Price Start: 45,00,000

Plot Size: 8 Marla

Price Start: 60,00,000

Plot Size: 10 Marla (250 Sq,y )

Price Start: 80,00,000

Plot Size: 20 Marla (500 Sq,y )

Price Start:100,00,000

20th of April we visited Defense housing scheme where only few plots and houses

were available to sale he told me about their prices and sizes

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 1. 1 kanal house was available for 9 million pkr.

2. 5bedroom house was available for pkr 5 million

21st of April we visited capital smart city he brought into my knowledge why this city

is called smart city then he introduced me with master plans, smart villas, pricing, and

development of this city.

23rd of April we visited top city 1

Where Mr. Gondal told me about features of Top city 1, its master plans and

developments.

2.1.14 Main features of Top city 1

• Grand high-rise residences.

• Five-star luxury hotel.

• Commercial area with cutting-edge office buildings.

• Excellent educational institutions.

• Medical and healthcare facilities that are well-equipped.

• Dedicated lake, parks, zoos, and green areas.

• Well-planned parking areas.

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 • A shopping center of international standards with upscale retail

establishments.

WEEK 3 & 4

On third week, we were shifted to another section where a group of internees was

already stationed who were then were then shifted to another section. In our section,

Sir Asad sahib introduced himself and explained his duties, experiences and tasks in

detail, then we internees introduced ourselves one by one to of Sir Asad Sahib. After

that, he explained the tasks that we have to do. He provided us white pages and asked

us to draw a layout of house on the page. He instructed the criteria of making the

layout, for example, he explained the dimensions which we were about to use of

making the layout of two bedroom, one living room, two bathroom and one kitchen.

We tried our best and completed the following task and showed it to Sir Asad, and he

took out the week points and mistakes of the task. What’s more’ some of the internees

were a little week and could not make it possible to do the task in first attempt, so sir

provided them page again and asked them do it once more. On the second attempt,

they did it but still had mistakes. We found Sir Asad sahib to be very kind towards the

internees. We had a break and again Sir Asad gave us another task to complete it. As

compared to the first task, we had a great deal of improvement and did the task much

better than the first one. Those internees who were week on the first, they also had

improvement owing to Sir’s kindness towards them.

The next day of the week, Sir Asad gave us another task and every one of us got it

checked from sir but this time every one of us had improved a lot. Not even a single

mistake was taken out from the task. Then he continued his lecture on Multimedia

where he told us about a software and its functions and uses. He also made a layout of

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software and showed us how to make it. The following software was installed in

computers and sir asked us to practice it and make a layout on it and show it to him.

We had confusion while making the layout but we asked him and he helped us a lot.

For the entire week, we made three layouts on each day and got it checked from sir.

The overall performance rate was improved a lot.

WEEK 5 & 6

On 22nd August which is the start of my 5 week Sir Asad Ullah introduced me about

the HR duties and responsibilities.

2.2 Post Advertisement

They advertised the positions using various venues such as newspapers, social media,

and websites, including every detail, documents, and qualifying criteria.

2.2.1 Policy on Recruitment

Recruitment is the process of locating, selecting, and hiring the best individuals for

the job based on the job specifications.

He explained that Prism estate and builders Consultant recruits for various positions in

the following manner.

1. Direct Appointment

2. Promotion

3. Transfer from other departments

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4. Deputation

5. Induction

2.2.3 Test/Interview

He stated that Prism estate and builders will administer a written test for each position

and only conduct interviews for certain roles. For each position, the top five

candidates in a test will be invited to an interview. The interview procedure entails a

preliminary conversation to assess potential candidates' academic and professional

credentials. Top management will create a five-member Interview

Committee/Selection Committee to conduct interviews and make recommendations to

top management for the best candidate for the post, who will provide their approval to

extend an offer of appointment.

2.2.4 Compensation and Benefits for Employees

There will be no bonuses, medical reimbursement, pay raises, or other forms of

employee compensation and benefits, but if the employee recognizes himself as a hard

worker, Sir Asad Ullah believes that “there could be many opportunities for contract

basis employees to become permanent by doing hard work, demonstrating

technicality, or having outstanding skills.”

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4.5 Employee Training

When the selection is complete, Prism estate and builders will organize the Training

Needs Assessment program. An assessment of training needs can be done to look at a

company's overall training needs or to support a specific project, change initiative, or

one-time need within an organization or department. They will train the staff and

improve their abilities for the project to succeed.

Sir Asad Ullah described the procedure for selecting the best candidates for the post.

• In the degree part, the highest degree holder will receive the highest scores.

• The most significant component of the application is the job experience

period, which receives the highest points.

• What if one person (A) has less work experience (3 years) but the highest

degree (Ph.D.), while another person (B) has more work experience (6 years)

but a lower degree? (MPhil). Then there will be a preference for (B).

• Other factors such as degree grades, behavior, communication skills,

seminars, credentials, or skills, among others, have an impact on your overall rating.

After all of the inquiries, interviews, and conversations, Sir Asad Ullah assigned us

the data entry work, in which he provided us with the format and instructed us to enter

data in Microsoft Excel from various job applications based on the serial number. Sir

Rizwan emailed the format to us, and we (a group of two students) began entering

data. The format includes the following elements:

1. NAME

2. FATHER NAME

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3. CNIC

4. DOMICILE

5. DATE OF BIRTH

6. DEGREE QUALIFICATIONS

7. CERTIFICATE

2.2.6 JOB EXPERIENCE

Within two days, we had entered many applications into Microsoft Excel. Then sir

handed us the more applications and told us to enter those as well, so we resumed the

data entry process for the next remaining days of the week.

We gave all the data we had recorded for two vacancies to Sir Asad Ullah when the

data entry was completed.

Week 7 and 8

Finance Department

During the 7- & 8-week internship Sir Ayan introduced himself the tasks, experiences,

responsibilities, and duties in detail than we introduced ourselves. After that he

introduced the Accounts department and informed us about the four vacancies

announced on open merit by the Prism estate and builders with fixed pay and duration

on a contract basis. I gained a little knowledge, but I am thankful to the staff for their

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support and their co-operation they gave me the time and effort based on which I

collected data for the report, improved my practical knowledge and skills about

working system of company.

The posts were following.

1. Financial Statements Analysis

2. Ledgers

3. Accounting Software (QuickBooks, Zeros)

4. Assistant Accountant

There are many departments in company but as restriction of my specialization I

worked in accounts section and collect some of the informational views which are as

under

2.3 Cash Book

There is a separate book to record the income and Expenditure related with cash

account. The Cash book is used to Record the Transactions that have impact on the

cash account. As cash entries are more in Number that’s why Prism estate and

builders

has a separate register for the Cash accounts Named as Cash Book. In cash book I

learned about receipts and payments cash book entries are treated as like entries of a

Asset because these transactions are related with cash and cash itself

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falls in the category of asset That’s why when cash is debited it is recorded under

receipts column with the description of Transaction and likewise when cash is

credited it is recorded under the payments column with the description of transaction

and date.

The cashbook contains two modes of entries one without the opening balance and one

with the opening balance the remaining cash balance at the end of the month is treated

as opening balance for the next month

The cashbook functions as a division of the general ledger, where all cash transactions

for a time period are listed in the cashbook in chronological order, and the balance is

continuously updated and validated.

In contrast to a cash account, which is an account within a general ledger, a cashbook

is a separate ledger in which cash transactions are recorded.

The Prism estate and builders uses a single column cashbook with the main objective

of managing cash effectively by making it simple to determine cash balances at any

time, allowing the accountants to budget their cash effectively when necessary. It is

also significantly faster to access the cash information in a cashbook than by

following the cash through ledger.

Daily cash balances are simple to use and access, making it simple to spot errors

through verification. Entries are also kept current as the balance is checked daily. The

company keeps track of all of its daily cash transactions in the cash book. Any kind

of money received, including client payments, withdrawals from one's own bank

account, service fees, and loans from banks, other organizations, or directors.

Following that, daily cash outlays are also noted. It is important to note that every

transaction is documented using a journal voucher. A voucher that serves as a journal

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book is referred to as a journal voucher. Transactions are kept together with dates and

justifications.

Date Particular Folio Amount Date Particular Folio Amount

00/00/00 Balance/ Money XXX 00/00/00 Any Voucher XXX

Received
receipt Expense/ no.
from
no.
clients/bank
Bank
withdraw/

Any Deposit/

income Loan

instalment/

loan to any

Party

2.4 General Ledger book

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General ledger is the accounting book used by the accountants to record the

transactions in more formalized manner it deals with five major accountants’ asset,

expense, Revenue, liability, and capital

Firstly raw entries square measure created generally journal and so a separate account

is created to post these entries generally ledger every accounting item is displayed as a

columned T formed table the controller places account title at the highest of T and

debit entries square measure settled at the left aspect of table and credit entries square

measure settled at the proper aspect of table and additionally a column is created for

group action description and date.

It is additionally called book of the final entries.

In the ledger book there is a separate section for each single head of income and

expenditure.

The general ledger book has a vast array of account heads. The majority of those are

organization-related expenses. This ledger book often contains records for

conveyance, office upkeep, rent, bills, legal costs, salaries, and tax accounts. As per

my observation at Prism estate and builders I practically noted that there are around

twenty heads of income from which company earned Money and likewise thirty-

eight heads of expenditure in which Prism estate and builders incurred his money

Every single head of income and Expenditure of company is recorded under their

assigned book at end of every month every head of accounts are closed and as per

rules the balanced amounts are transferred to next Month

At the Prism estate and builders all transactions are based on cash basis not on the

accrual basis

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The Prism estate and builders uses general ledger to get following advantages

To understand the financial situation only if we manage ledger accounts correctly will

we be able to determine the financial status of an enterprise (i.e., after preparing final

accounts).

To make final account preparations we are aware that only a trial balance can be used

to prepare a final account (i.e., Trading Account, Profit and Loss Account and

Balance Sheet). Therefore, it is impossible for us to produce final accounts if we do

not have the ledger account balance from a trial balance.

To get the trial balance ready without ledgers, it is impossible to prepare a trial

balance. Because the balance of the ledger accounts is used to generate a trial balance.

Additionally, mathematical correctness is impossible.

To collect the information the ledger may be called the collection or storeroom of

various transactions

2.5 Establishment Check Register

This book is designed by accountants to get an ease on designing the salary packages

for employees of Prism estate and builders.

All the increments in the salary of employee which are added in the end of year, basic

pays and all the type of allowances such as house rent allowances medical allowances

and convenience allowances all these are the records and kept in the book of E.C.R

There is one single section assigned for every single employee of Prism estate and

builders in which all the above allowances and other monetary facilities are recorded

which are given to him. This book is updated with the change in roles of employees at

the local government or the announcement of new budget for next year

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With the Help of E.C.R the service book of every employee at Prism estate and

builders is maintained and his salary packages are drawn every month

Chapter No#3

SWOT ANALYSIS

Swot analysis is considered as very important for every organization it is composed of

organizations internal as well as external component which have a significant impact

on the success of the organization there are few important factors which are

considered important for the smooth running of an organization. If an organization

have a significant capital, skilled labors and healthy assets and other resources then

targets are achievable for that organization. But practically when we observe there are

many problems faced by the organizations during implementation of certain plans.

That’s why swot analysis is based on strength, weakness, opportunities, and threats.

Which means careful evaluation of internal strengths and weaknesses of the

organization and external threats and opportunities which provide significant benefit

to them and threats that which stand against the success of the organization.

3.1.1 STRENGHTS

When discussing about strengths of organization the only question that comes in mind

is that how efficiently and effectively organization is working. I must say

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Prism estate and builders have very competent management, sales and marketing staff

which is always a plus point for the organization. same is the case with Prism estate

and builders it is a plus point. Other strengths of organization are:

3.1.2 Staff Relation: In my observation I noticed that they had a very good attitude

and behavior of staff with each other, and higher authorities were also very humble

and cooperative to staff.

3.1.3 Profitability: Prism estate and builders uses its resources very efficiently and

effectively which in turn generates a huge amount of revenue for the organization by

which company can operate its activities and pay wages to the employees also.

3.1.4 Secured branch: Prism estate and builders has very outstanding location for

its office its really appealing security wise as well as feasibility wise.

• It is the largest and oldest organization

• Only one office in ISLAMABAD

• Computerize system is used for record keeping.

• It is the strongest organization that maintain all records of employee salary

• Maximum are achieved at local level.

• Community takes part in different events.

• Prism estate and builders celebrates different days/ weeks in accordance to create

awareness

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3.2 WEAKNESS

Beside the strengths there also some weaknesses to the organization which hinders the

normal day to day operations. Weakness is defined as some internal attributes and

resources that work against the successful outcomes.

Following are the weaknesses in the Prism estate and builders:

3.2.1 Limited Number Of Staff: There Is limited number of staff at Prism estate and

builders if someone goes on leave there is no one to work on that seat that’s why it

creates problems like either work is stuck till person return to the job after leave or it

is given to the person as additional responsibility the person who have less or no

knowledge of that work. Employees work begin to pile up so when he returns from

job he faces huge work burden.

3.2.2 Work burden: During my 8 weeks of internship, I noticed that work is not

distributed equally among the authority due to which a discomfort is observable in

faces of the employees. As I personally observe that there are some authorities who do

not have that much work I whole day(who’s days are passed without significant work

or no work at all which is very much below their responsibilities and given job

descriptions) where as there are some employees and authorities who work all day and

do not have a even single minute of relaxation even I also noticed that some employee

work even after the office hours without being paid any additional incentives for these

additional work hours. They leave after completing their assigned task. This creates

inequality as some have too much relaxation and some do not have any single minute

of relaxation that’s why this leads the staff to depression and laziness.

3.2.3 Lack of Training: The most significant weakness for Prism estate and builders

is that they do not have any training and development workshops for the grooming of

the employees from training sessions employees can learn new skill and improve a lot
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their way of working. By training sessions they can also learn new techniques and

change their attitude and behaviors toward the work these training builds motivation

and build up the awareness of the employees toward their jobs and responsibilities and

provides the platform of punctuality and honesty with their work. But if some

organization does not conduct these kinds of training sessions it gradually decreases

the competitiveness of the organization and decreases the organizations efficiency and

effectiveness if required measures are not taken it may lead the organization toward

failure.

1. Morale of employee is very low

2. Computerized system is not fully adopted

3. Employees are not skilled

4. Oldest equipment’s are used. And also, shortage of equipment’s

3.3 Opportunities

Opportunities are referred as favorable external factors that can provide a

competitive advantage to the organization talking about opportunities these are the

factors which are found in and out of the organization. If organization uses these

chances it can boost its performance and simultaneously can increase the outcome of

the projects. As For Prism estate and builders some opportunities which I felt during

internship are mentioned below.

3.3.1 Thumb Impression Prism estate and builders uses manual register for marking

the attendance of employee which do have some flaws but now due to advancement in

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technology these flaw can be eradicated there are some latest invented system which

are directly connected to headquarters of the organization. The system completely

works on thumb impression in which the input is finger print of the staff and

attendances are automatically recoded and sent to the headquarters This system can

be used for both in and out of staff from the office and departments due to this the

attendances are accurately recorded and likewise punctuality can be maintained in the

organization

3.3.2 New Technology: due to the rapid advancements in the technology in this new

era new technology and new methods are introduced for efficiency and success of

different businesses and other institutes to survive in this globe so for the sake of the

competitiveness adoption of new technology is utmost important.

One of the necessary step which I observed during internship is that to adopt the

software system to record all their data and other business records because now days

these are being recorded manually which complete waste of time is and staff faces

various issues

The software based programs has no room for errors and are easy to use and all the

data is safe if required the data can be taken very easily

3.3.3 New developmental programs

As per the bank statements there are much of rupees of Prism estate and builders at

different banks through which they earns some interest but they can earn much more

if they invest this amount into developmental program which have more earning

opportunities than the banks and also this will open the room of employment for many

people.

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So the best opportunity for Prism estate and builders is create and execute plan for

these projects which should be environment friendly and should create opportunities

for other also and earn significant amount of profit

3.3.4 Adopt latest technology

• Training programs can be introduced to train the employees

• Public private mix program

• Less number of competitors

• Hiring employees

• Improve Staff morale

3.4 Threats

Threats are the external factors than can put organization into worry or that might

prevent organization from achieving goal or taking advantage of the benefits. If

the organization did not practice it opportunities, it can become the threats for

organization in future some major threats for Prism estate and builders are

following.

3.4.1 Declining business activities: Government imposed high taxes on every single

business activity due to which many people shifted their assets to foreign countries

and developmental works got stuck only due to these high taxes this a threat to

Prism estate and builders to affects the regularity and stability of company

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And below are some other major threats to the Prism estate and builders

3.4.2 Understanding of technology

• Instable economy

• Political instability

• Society is not well educated

• Government Policies

• Less Employees morale

Chapter No# 4

CONCLUSION AND RECOMMENDATION

4.1 Conclusion

In general, Prism estate and builders assess issues, provide advice and solutions, as

well as any additional resources required for the implementation process. The main

goals of a Prism estate and builders are to enhance the customer's organization's

performance and assist in achieving its goals. Organizations typically use consultants

to bring value. They have expanded roles that are intended to bring value to the

customers, therefore their functions and responsibilities are not just confined to

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helping the client make decisions. Consultants are required to be technically proficient

in their profession in order to accomplish this achievement.

Theoretically, a consultant should be able to build and maintain the essential cordial

relationships with their clients, act professionally at all times, and have certain traits

that will allow them to carry out their duties and keep these friendly relationships. The

consultant must be able to effectively interact with people, comprehend organizational

decision-making processes, and comprehend client expectations. The primary goal of

the consultant is to give their clients more value.

Finally, spending days at orientation and training has been a wonderful experience.

Learning more about what consultants do was quite helpful. Every day at the end, the

notion would cross one's mind: "Perhaps consultants are applying everything they

have learnt so far." However, the following dawn brought more sunshine and

understanding, and this process is still ongoing. There was not a single individual

present who did not appear friendly and helpful. Everyone was eager to contribute the

knowledge and skills they had. Executives, middle management, and lower level staff

all appeared to be content with the company and giving their best efforts.

4.2 Recommendations

 Keeping in view the hurdles few remedies are suggested for the betterment of

the Prism estate and builders. Which are mentioned below:

 In various sections, professional workers should be hired, or present

employees should be taught for capacity building purposes.

 A variety of training courses should be organized to increase staff morale and

job quality.

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 They must overcome the dangers and weaknesses identified in the SWOT

analysis.

 They should have knowledge about their competitors that what they are doing.

 Environment of Prism estate and builders was good, but I found gap in

relationship among the lower and middle staffs. So, the consultant have to

work to develop a friendly environment not only for the betterment of

revenues.

 Prism estate and builders should launch new advertising strategies. In other

words, marketing department should be made effective at what they are paying

for.

 Employees should occasionally be offered a training course, though they can

also learn on the job. The following areas are where training is available:

 Better communication skills training for staff members o

Undergraduates must receive the necessary training.

 Ongoing instruction in the most recent changes

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Plagiarism report: p

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References:

Websites

www. idealpropertiesisb.com

https://idealpropertiesisb.com/

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