Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
SUBMITTED BY
V. VIKNESH
(1XXXXXX2)
JUNE 2016
Page | 1
DECLARATION
Department of Commerce with Business Process Services, XXX College of Arts and
Science, (Autonomous) in partial fulfillment of the requirements for the award of the
Degree of Bachelor of Commerce with Business Process Services of xxxxxxxxx
University, Coimbatore.
Student
Submitted on:
Guide
Examiners: 1.
2.
Page | 2
INDEX
Chapter No
CONTENT
Page no.
INTRODUCTION
1 - 19
II
20 - 28
III
28 - 48
IV
49 - 52
CONCLUSION
53, 54
Page | 3
CHAPTER - I
INTRODUCTION : CO-OPERATIVE SOCIETY
A co-operative society is an autonomous association of persons united voluntarily to
meet their common economic, social and cultural needs and aspirations through a
jointly-owned and democratically-controlled enterprise. A co-operative society is
another means for forming a legal entity to conduct business besides forming a
company. It pools together human resources in the spirit of self and mutual help with
the object of providing services and support to members. In India credit co-op. sector
developed to help the peoples of low income group whom banks generally do not give
loans because of risk, they are taking loans from the financiers at high interest rates.
So society is the better option to help them. Society generally gives a wide range of
banking and financial services like Loans, F.D., R.D., Saving, Insurance etc. Generally
Co-operative Credit Society is formed by members, who are at the same time the
owners and the customers of their Society. The Co-operative Principles under which a
co-operative society operates and carries out its business are :1. Voluntary and open membership.
2. Democratic control, one member one vote.
3. Autonomy and independence.
4. Promoting economic activities.
5. Promoting education and information technology.
6. Co-operation among co-operatives.
7. Concern for the social and ecological environment.
The co-operative society is the only alternative to protect the weaker sections of the
society and to promote the economic interest of the people. In certain situations when
Page | 1
it is not possible to achieve the target by individual effort, collective effort in the form
of a co-operative society is preferred. Housing co-operatives, Marketing cooperatives, etc., are formed to achieve the common economic objectives of the
members.
Page | 2
Page | 3
capital enterprises) the decisions taken by co-operatives balance the need for
profitability with the needs of their members and the wider interests of the community.
Page | 5
Are motivated not by profit, but by service-to meet their member's needs or
affordable and high quality goods or services.
Profit of Society Dividends:
Society gives dividends on the share to the members depend on the profit.
Page | 6
Co-operatives started out as small grass roots organizations in Western Europe, North
America and Japan in the middle of the last century; however, it is the Rochdale
Pioneers that is regarded as the prototype of the modern co-operative society and the
founders of the Co-operative Movement.
In 1844 a group of 28 artisans working in the cotton mills in the town of Rochdale, in
the north of England established the first modern co-operative business, the Rochdale
Equitable Pioneers Society (photo). The weavers faced miserable working conditions
and low wages, and they could not afford the high prices of food and household
goods. They decided that by pooling their scarce resources and working together they
could access basic goods at a lower price. Initially, there were only four items for sale:
flour, oatmeal, sugar and butter. The Pioneers decided it was time shoppers were
treated with honesty, openness and respect, that they should be able to share in the
profits that their custom contributed to and that they should have a democracy.
ADVANTAGES:
a) Unlike other retailers, cooperative stores supply quality goods. Consumers are
thus saved from adulteration and other malpractices.
Page | 7
I. EASY FORMATION:
Formation of a co-operative society is very easy compared to a joint stock company.
Any ten adults can voluntarily form an association and get it registered with the
Registrar of Co-operative Societies.
members of the co-operative societies are free from any kind of risk because of
business liabilities.
DISADVANTAGES:
a) It caters to the needs of small and medium-income groups.
b) There is too much dependence on the honesty, integrity and loyalty of members
and workers.
c) There is lack of proper sales promotion drives by the sales force of these stores.
Page | 9
Page | 10
V. DEPENDENCE ON GOVERNMENT:
The inadequacy of capital and various other limitations make cooperative societies
dependant on the government for support and patronage in terms of grants, loans
subsidies, etc. Due to this, the government sometimes directly interferes in the
management of the society and also audits their annual accounts.
Page | 11
These societies are formed by small producers and manufacturers who find it difficult
to sell their products individually. The society collects the products from the
individual members and takes the responsibility of selling those products in the
market. Gujarat Co-operative Milk Marketing Federation that sells AMUL milk
products is an example of marketing co-operative society.
4. CO-OPERATIVE CREDIT SOCIETY:
These societies are formed to provide financial support to the members. The society
accepts deposits from members and grants them loans at reasonable rates of interest in
times of need. Village Service Co-operative Society and Urban Cooperative Banks are
examples of co-operative credit society.
5. CO-OPERATIVE FARMING SOCIETY:
These societies are formed by small farmers to work jointly and thereby enjoy the
benefits of large-scale farming. Lift-irrigation cooperative societies and panipanchayats are some of the examples of co-operative farming society.
6. Housing Co-operative Society:
These societies are formed to provide residential houses to members. They purchase
land, develop it and construct houses or flats and allot the same to members. Some
societies also provide loans at low rate of interest to members to construct their own
houses. The Employees Housing Societies and Metropolitan Housing Co-operative
Society are examples of housing co-operative society
I. OPEN MEMBERSHIP:
Page | 12
The membership of a Co-operative Society is open to all those who have a common
interest. A minimum of ten members are required to form a cooperative society. The
Cooperative society Act does not specify the maximum number of members for any
co-operative society. However, after the formation of the society, the member may
specify the maximum number of members.
II. VOLUNTARY ASSOCIATION:
Members join the co-operative society voluntarily, that is, by choice. A member can
join the society as and when he likes, continue for as long as he likes, and leave the
society at will.
Page | 13
Co-operatives are not formed to maximize profit like other forms of business
organization. The main purpose of a Co-operative Society is to provide service to its
members. For example, in a Consumer Co-operative Store, goods are sold to its
members at a reasonable price by retaining a small margin of profit. It also provides
better quality goods to its members and the general public.
V. SEPARATE LEGAL ENTITY:
A Co-operative Society is registered under the Co-operative Societies Act. After
registration a society becomes a separate legal entity, with limited liability of its
members. Death, insolvency or lunacy of a member does not affect the existence of a
society. It can enter into agreements with others and can purchase or sell properties in
its own name.
Page | 14
mutual co-operation. It is only by working jointly on the principle of Each for all and
all for each; the members can fight exploitation and secure a place in society.
where
ITES
stands
for
Information
Technology
Enabled
Service. Knowledge process outsourcing (KPO) and legal process outsourcing (LPO)
are some of the sub-segments of business process outsourcing industry.
Page | 16
Most services provided by BPO vendors are offered on a fee-for-service basis, using
business models such as Remote In-Sourcing or similar software development and
outsourcing models. This can help a company to become more flexible by
transforming fixed into variable. A variable cost structure helps a company responding
to changes in required capacity and does not require a company to invest in assets,
thereby making the company more flexible.
Another way in which BPO contributes to a companys flexibility is that a company is
able to focus on its core competencies, without being burdened by the demands of
bureaucratic restraints. Key employees are herewith released from performing noncore or administrative processes and can invest more time and energy in building the
firms core businesses. The key lies in knowing which of the main value drivers to
focus on customer intimacy, product leadership, or operational excellence. Focusing
more on one of these drivers may help a company create a competitive edge.
Page | 17
Threats
Risk is the major drawback with Business Process Outsourcing. Outsourcing of an
Information System, for example, can cause security risks both from a communication
and from a privacy perspective. For example, security of North American or European
Page | 18
company data is more difficult to maintain when accessed or controlled in the Indian
Sub-Continent. From a knowledge perspective, a changing attitude in employees,
underestimation of running costs and the major risk of losing independence,
outsourcing leads to a different relationship between an organization and its
contractor.
Risks and threats of outsourcing must therefore be managed, to achieve any benefits.
In order to manage outsourcing in a structured way, maximizing positive outcome,
minimizing risks and avoiding any threats, a Business continuity management (BCM)
model is set up. BCM consists of a set of steps, to successfully identify, manage and
control the business processes that are, or can be outsourced.
Industry size
India has revenues of US$10.9 billion from offshore BPO and $30 billion from IT and
total BPO (expected in FY 2008). India thus has some 5-6% share of the total BPO
Industry, but a commanding 63% share of the offshore component. This 63% is a drop
from the 70% offshore share that India enjoyed last year: despite the industry growing
38% in India last year, other locations like Philippines, and South Africa have
emerged to take a share of the market. By the year 2016, the BPO Industry in
the Philippines will employ 1.2 million workers with $25 billion in revenues. The
South African call centre industry has grown by approximately 8% per year since
2003 and it directly employs about 54,000 people, contributing 0.92% to South
Africa's gross domestic product (GDP). China is also trying to grow from a very small
base in this industry. However, while the BPO industry is expected to continue to
grow in India, its market share of the offshore piece is expected to decline. Important
centers in India are Bangalore, Gorgon, Chennai, Kolkata, Mumbai, Pune, and New
Delhi.
Page | 19
The Association of Southeast Asian Nations (ASEAN) countries, along with the
People's Republic of China and Indiaknown collectively as ACI countriesare
likely to see services like BPO figure strongly in their economies over the medium
term. Services trade among ACI countries has been growing at a very rapid rate over
recent years, despite starting from a relatively low baseline. Although data are scarce
and must be interpreted with caution, an analysis of applied services sector policies in
the region suggests there is much policymakers can do to intensify this process, and
increase the pace at which the transformation to a service economy is taking place.
CHAPTER - II
ORGANISATIONAL PROFILE
NAME OF THE
ORGANISTAION
DATE OF ESTABLISHMENT
07.07.1924
REGISTRATION NUMBER
MSCS CR 10/86
CASH ON HAND
SHARE CAPITAL
TOTAL BORROWNGS
NET PROFIT
ADDRESS OF THE
HEAD QUARTER
ADDRESS OF THE
Coimbatore:
Trichy:
Salem:
BRANCH OFFICES
Bangalore:
Page | 21
deposits from the members. The society has issued loan to the members and the
amount outstanding is Rs. 393.85/-crores as on 31.03.2011.
Staffs
The society has five branches spread over different geographies and has over 94 staff
including permanent and temporary. The organization constantly thrive on servicing
their members to their fullest satisfaction and with fastest response time. Towards
that direction they have set themselves a goal of computerizing their entire operations
within the 2010 and also train their entire staff in all basic computer skills and
advanced computer skills so that they can serve their members better. They provide a
very relaxed work environment with the open door policy so that any of their
employees can approach the senior management and the board including the
President any time with their grievances and suggestions to improve. As we are the
India's first ever society which is in the process of total automation and they proudly
say that all their staff members are truly excited about the new Board and the recent
developments.
GTECS is very proud to inform that their service to their members by introducing
various innovative schemes for welfare and benefits of their members. Scheme of
Fixed Deposit is best in the financial surroundings by all standards. We would like
you to compare yourself with the following information.
Page | 22
S.No
Institution
% AS OF June 2011
POST OFFICE
8%
9 .25 %
INDIAN BANK
9 .25%
CANARA BANK
9 .25%
9 .25%
REPCO BANK
10 .10%
10 .25%
10%
ICICI BANK
8 .25%
10
GTECS(Ours)
11 .5 %
Members
They are always happy to have new members into their society family. They accept
two type of membership into their society.
Page | 23
Member Admission
(a) Regular Member : (A-Class)
On eligibility and with the approval of the board, the applicant shall be admitted into
the society as a regular member. At the time of admission, the member shall pay:
Share Capital of at least Re 10/- (one share)
A non-refundable entrance fee of Re 1/- per share up to a maximum of Rs 50/overall. The fee may be paid proportionately at the time of taking the shares.
Postage charges of Rs 6/- for sending membership admission intimation
Total amount payable: Rs 17/- ((may change if postage charges is changed)
Regular members have voting power and can avail all the facilities provided by
GTECS for regular members (given later)
Page | 24
be
withdrawn
until
their
cessation
of
membership.
is dependent on the performance of the society. The maximum dividend that will be
paid subject to availability of profit may be provided is 15% as per the bye laws.
Loans Issued
Regular members can avail the following loans (or other new loans that may be
introduced from time to time):
Currently we allow maximum of Rs. 10,000 for Festival Loan with the interest rate
of 16%. The maximum allowed installments are 10. Please contact the society for
further information.
Page | 26
Jewel loans are given both Regular and Nominal members. One can avail any
number of Jewel Loans. We give up to Rs. 1800 per gram as the loan amount and
member can avail the jewel loan up to 8,00,000. with the interest rate of 13.5%.
e) Computer Loan (CL)
Currently we allow maximum of Rs. 20,000 for Computer Loan with the interest
rate of 16%. The maximum allowed installments are 20. Please contact the society for
further information.
Page | 27
Particulars
No. of members
24290
23950
22806
21656
21402
21749
21389
21876
23.28
23.1
29.43
31.51
32.99
34.47
35.91
50.81
Working Capital
(Rupees in crores)
168.44
177.46
247.62
263.74
277.41
284.37
290.35
510.8
Fixed Deposit
( Rupees in Crores)
2.52
3.24
4.77
4.46
4.52
4.42
16.72
28.22
54.98
55.3
57.78
64.82
72.4
80.34
87.65
97.77
16.47
18.06
20.36
24.17
27.93
31.39
34.32
39.93
6.59
6.01
4.78
3.89
3.48
6.66
7.6
8.47
Dividend
12
12
12
12
12
12
12
68.6
75.24
132.96
136.67
137.49
131.19
113.31
291.07
10
Members Loan
outstanding
(Rupees
in crores)
177.01
171.4
228.13
243.02
255.94
261.2
269.09
393.85
11
1.72
1.55
1.3
2.35
3.13
2.68
2.59
3.31
Page | 28
% of overdue
0.97
0.91
0.57
0.97
1.23
1.03
0.96%
0.84%
Page | 29
ORGANISATIONAL CHART
B oard of
M anagem e
nt
TEDARCSPFC etlysmaoc h ctops yu aofteip eho fsni br Biopilranut lpof eanMoteci ytcisnEaro t echl aotnk exl mneMmtsi e irsa eo pctka g nc runse t o iratc ov si gl vnei e d r ae r ek n n s d( tE( L f sB u (ot Carn abdna n l s i chs h s m e c e t n i o t n )
tcsCwMPSrnInrO enlyte lr cfaeo ri tf hrn ki i e okac r nsrge g er) er
Page | 28
ORGANISATIONAL CHART
RDTVPM riecpmasrie n ta iv e G e n ra l
bBtupdoer nstyid me n tm b e rs
Page | 29
CHAPTER - III
DEPARTMENTS (SECTIONS) AND ITS FUNCTIONS
1. Reception Section:
The Reception is a Front office and the first department of the institution in
each organization. Receptionist is the person who takes care of the reception section in
each of the organization and acts as a guide for the third person and helps the
organization through attending the enquires by face to face or through phone.
a. What is a Receptionist?
A Receptionist is a specialized type of Administrative Assistant. A receptionist
(sometimes referred to as an administrative assistant) is someone who performs
various administrative tasks, including answering telephones and giving information
to the public and customers. Receptionists are often the first employee that the public
or customer has contact with. They are responsible for making a good first impression
for the organization, which can affect the organization's success.
b. What does a Receptionist do?
Receptionists typically do the following:
Answer, screen, and forward telephone calls
Greet walk-in customers and other visitors and escort them to specific
destinations
Contribute to the security of the office by helping to monitor visitors' access
Obtain or send information or documents using a computer, mail, or a fax
machine
Perform other administrative support tasks, such as keeping appointment
calendars
Copy, file, and maintain documents and records
Collect, sort, distribute, and prepare mail and courier deliveries
Page | 29
ii.
assisting the office staffs by diverting the phone call enquiries to the
concern staff or section (department).
Page | 30
iii.
helps the members to reach the particular counter and guides them in the
correct manner to satisfy their queries.
2. Loan Section:
This is the section where the company scrutinizes the details given by the
persons those who request loans from the company. This is section is the
section where the company is indulges
Clerical staffs
Receipt Writers
Peons
in the work.
a) Loan
In finance, a loan is the lending of money from one individual, organization or
entity to another individual, organization or entity. A loan is a debt provided by an
entity (organization or individual) to another entity at an interest rate, and evidenced
by a promissory note which specifies, among other things, the principal amount of
money borrowed, the interest rate the lender is charging, and date of repayment. A
loan entails the reallocation of the subject asset(s) for a period of time, between
the lender and the borrower.
In a loan, the borrower initially receives or borrows an amount of money, called
the principal, from the lender, and is obligated to pay back or repay an equal amount
of money to the lender at a later time.
The loan is generally provided at a cost, referred to as interest on the debt, which
provides an incentive for the lender to engage in the loan. In a legal loan, each of these
obligations and restrictions is enforced by contract, which can also place the borrower
Page | 31
under additional restrictions known as loan covenants. Although this article focuses on
monetary loans, in practice any material object might be lent.
Acting as a provider of loans is one of the principal tasks for financial
institutions such as banks and credit card companies. For other institutions, issuing
of debt contracts such as bonds is a typical source of funding.
I.
Types of Loans:
i.
Secured
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or
property) as collateral.
A mortgage loan is a very common type of loan, used by many individuals to
purchase things. In this arrangement, the money is used to purchase the property. The
financial institution, however, is given security a lien on the title to the house until
the mortgage is paid off in full. If the borrower defaults on the loan, the bank would
have the legal right to repossess the house and sell it, to recover sums owing to it.
ii.
Unsecured
Unsecured loans are monetary loans that are not secured against the borrower's
assets. These may be available from financial institutions under many different guises
or marketing packages:
credit card debt
personal loans
bank overdrafts
credit facilities or lines of credit
corporate bonds (may be secured or unsecured)
peer-to-peer lending
Page | 32
The interest rates applicable to these different forms may vary depending on the
lender and the borrower. These may or may not be regulated by law. In the United
Kingdom, when applied to individuals, these may come under the Consumer Credit
Act 1974.
Interest rates on unsecured loans are nearly always higher than for secured
loans, because an unsecured lender's options for recourse against the borrower in the
event of default are severely limited. An unsecured lender must sue the borrower,
obtain a money judgment for breach of contract, and then pursue execution of the
judgment against the borrower's unencumbered assets (that is, the ones not already
pledged to secured lenders).
iii.
Demand
Demand loans are short term loans that are typically in that they do not have
fixed dates for repayment and carry a floating interest rate which varies according to
the prime lending rate. They can be "called" for repayment by the lending institution
at any time. Demand loans may be unsecured or secured.
iv.
Subsidized
A subsidized loan is a loan on which the interest is reduced by an explicit or
hidden subsidy. In the context of college loans in the United States, it refers to a loan
on which no interest is accrued while a student remains enrolled in education.
v.
Concessional
A concessional loan, sometimes called a "soft loan", is granted on terms
substantially more generous than market loans either through below-market interest
rates, by grace periods or a combination of both. Such loans may be made by foreign
governments to developing countries or may be offered to employees of lending
institutions as an employee benefit.
II.
i.
Target markets:
Personal
Page | 33
ii.
Commercial
Loans to businesses are similar to the above, but also include commercial
mortgages and corporate bonds. Underwriting is not based upon credit score but
rather credit rating.
b. Clerks:
The clerks are the official staffs those who checks all the details of the
entering third party and scrutinizes al the details . They are the most important
staffs in each office.
i.
Page | 34
Compile, copy, sort, and file records of office activities, business transactions,
and other activities.
Complete and mail bills, contracts, policies, invoices, or checks.
Operate office machines, such as photocopiers and scanners, facsimile
machines, voice mail systems and personal computers.
Compute, record, and proofread data and other information, such as records or
reports.
Maintain and update filing, inventory, mailing, and database systems, either
manually or using a computer.
Open, sort and route incoming mail, answer correspondence, and prepare
outgoing mail.
Page | 35
Train other staff members to perform work activities, such as using computer
applications.
Prepare meeting agendas, attend meetings, and record and transcribe minutes.
Troubleshoot problems involving office equipment, such as computer hardware
and software.
Make travel arrangements for office personnel.
ii.
Administrative
Activities
--
Performing
day-to-day
Page | 36
auditing,
or
verifying
information
or
data.6)
Processing
iii.
In this section the society 's clerical staffs indulge in the following activities
Scrutinizing of application
Processing of Loan Application
Fulfilling the members' satisfaction
Calculating the amount of loan to be issued as per the Pay bill
produced by the member
Calculating the amount of principle and the interest to be paid each
month
Page | 38
3. Accounting Section:
This is the section where the company's accounts are being calculated and the
balance sheet is being produced for each and every day.
a. Accounting
Accounting or accountancy is the measurement, processing and communication
of financial information about economic entities. The modern field was established by
the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the
"language of business", measures the results of an organization's economic activities
and
conveys
this
information
to
variety
of
users,
of
accounting are known as accountants. The terms 'accounting' and 'financial reporting'
are often used as synonyms.
Accounting can be divided into several fields including financial
accounting, management
accounting, auditing,
and tax
accounting.
Accounting
has
several
subfields
or
subject
areas,
including financial
i.
Financial accounting
to
external
users
of
the
information,
such
Page | 40
ii.
Management accounting
Auditing
Page | 41
i.
Page | 42
ii.
Impartiality
iii.
Accountancy is one of the most detailed and diverse roles in the finance industry and
as such accountants are required to be competent in a number of areas.
The role of an accountant might include the following:
Prepare profit and loss statements on behalf of a business.
Set up accounting practices and procedures for new companies and
advise on how to manage these.
Analyze budgets and other financial information and advise where
savings could be made.
Help to produce budgets for businesses and implement strategies for
cost savings.
Ensure company accounts and tax returns are prepared and filed
correctly and on time.
Page | 43
It is such a diverse role that these areas might not ever be explored by some
within the industry, although this is a typical representation of what an accountant will
do.
It is important that an accountant has impeccable standards when it comes to both
competence and behavior, as without them theyll be unable to do their job correctly
and potentially harm their organization, certainly their own reputation, and perhaps
even the whole industry.
ii.
iii.
4. Cash Section:
This is the section of the organization where the cash flow takes place. This is
one of the most important section in the organization since the main process of the
organization takes place. The Cashier is the incharge of this section for maintaining all
the Receipts and Payments.
Page | 44
The job of cashier includes many things and it is job of accuracy. They have to interact
with customer on daily basis for solving queries, handling money etc.
The first duty of cashier is to greet the customers entering into organization
ii.
iii.
iv.
v.
vi.
vii.
become a cashier he/she should be graduate in accounting and should have knowledge
of bank policies. He/she should be strong in mathematics and statistics. The skills
required for a cashier are communication, honesty, sincerity etc.
ii.
iii.
iv.
Book to be maintained:
Page | 45
5. Dispatch Section:
Dispatch is a procedure for assigning employees (workers) or vehicles to
customers. Industries that dispatch include taxicabs, couriers, emergency services, as
well as home and commercial services such as maid services, plumbing, HVAC, pest
control and electricians.
With vehicle dispatching, clients are matched to vehicles according to the order
in which clients called and the proximity of vehicles to each client's pick-up location.
Telephone operators take calls from clients, then either enter the client's information
into a computer or write it down and give it to a dispatcher. In some cases, calls may
be assigned a priority by the call-taker. Priority calls may jump the queue of pending
calls. In the first scenario, a central computer then communicates with the mobile data
terminal located in each vehicle; in the second, the dispatcher communicates with the
driver of each vehicle via two-way radio.
Page | 46
ii.
iii.
6. Establishment Section:
This section in the society deals with the society's discipline and acts as the
discipline keeper of the society. This section ensures the company's staffs are working
under the rules and regulations of the society. This section takes actions on the staffs
and the officers if they do not abide by the rules and regulations of the company. This
section ha s the rights to punish the workers by giving memos or suspension for them
with a correct reason.
The Establishment clerks work as the inspectors and see to it the company runs in
the proper way and all the staffs are under the rules of the company.
The Typist works as the assistant for the establishment clerk in typing the official
orders passed by the higher authorities or the establishment clerks.
7. Audit Section:
An audit is a systematic and independent examination of books, accounts,
statutory records, documents and vouchers of an organization to ascertain how far the
financial statements as well as non-financial disclosures present a true and fair view of
the concern. It also attempts to ensure that the books of accounts are properly
maintained by the concern as required by law. Auditing has become such a ubiquitous
phenomenon in the corporate and the public sector that academics started identifying
Page | 47
an "Audit Society". The auditor perceives and recognize the propositions before
him/her for examination, obtains evidence, evaluates the same and formulates an
opinion on the basis of his judgment which is communicated through his audit report.
Any subject matter may be audited. Audits provide third party assurance to
various stakeholders that the subject matter is free from material misstatement. The
term is most frequently applied to audits of the financial information relating to a legal
person. Other areas which are commonly audited include: secretarial & compliance
audit, internal controls, quality management, project management, water management,
and energy conservation.
As a result of an audit, stakeholders may effectively evaluate and improve the
effectiveness of risk management, control, and the governance process over the
subject matter.
In GTECS the Reconciliation clerks audits the monthly reports and the balance
sheet of the company. The clerk makes the recovery statement and the
subsidiary statement of the members of the society. The clerk makes the woks
of the loan section clerks for the posting of the ledger in the loan subsidiaries
and their recovery.
8. Computer Section:
Page | 48
This section is the society's important department where the all the automation
of the entries and the society's details are updatedly mentioned in the company's
website. These are the responsibilities of the computer section clerk
i.
Selection of Hardware/Software.
ii.
iii.
iv.
Installation of Hardware/Software.
v.
vi.
vii.
viii.
ix.
x.
Digitization of resources.
xi.
xii.
xiii.
xiv.
In this computer section the GTECS outsources the work of uploading the details of
the new members those who join the society.
Page | 49
CHAPTER - IV
SUMMARY OF WORK DONE
Day
Date
13.05.2016
14.05.2016
17.05.2016
Reception
Face to Face and Phone enquiries
18.05.2016
Page | 51
19.05.2016
Loan Section
Scrutinizing of Loan application
20.05.2016
10
11
12
13
14
23.05.2016
Loan Section
24.05.2016
25.05.2016
26.05.2016
27.05.2016
Adjustment Slip
Cash Section
30.05.2016
31.05.2016
Issuing of cheque
Cash Section
01.06.2016
15
02.06.2016
Coin ware
Accounting Section
Ordinary Loan Subsidiary
16
03.06.2016
17
04.06.2016
Accounting Section
Fixed Deposit
18
19
20
21
06.06.2016
Recurring Deposit
Accounting Section
07.06.2016
Day Book
Accounting Section
08.06.2016
09.06.2016
22
10.06.2016
Stamp note
Dispatch Section
Maintenance of Dispatch Register
CHAPTER - V
CONCLUSION
Page | 53
The past months of my internship have been very instructive for me. The
GTECS.ltd has offered me opportunities to learn and develop myself in many areas. I
gained a lot of experience from the society. A lot of the tasks and activities that I have
worked on during my internship are familiar with what Im studying at the moment. I
worked in many areas where I did different work. This gave me the chance to find out
which areas I want work in after my education
Before my internship started my ideas did not match the experiences that I had
gained during my internship. This internship was definitely an introduction to the
actual work field for me. I have learned to work in a organization and apply my
knowledge into practice. I learned a lot from the different interns that I have been
working with during my internship. Each intern had a different educational
background and that made it interesting for me. By working with them I got to learn
from them and become aware of educational background.
I enjoyed working in the GTECS.ltd. I learned a lot about the areas of the society
and the departments of it. Interning at The GTECS was definitely a learning
experience. This had helped me to understand the various departments and its
functions in the cooperative credit society. The best strategy to get the best inventory,
the traffic building technique and crowd control that I observed were impressive. I
understood about the hurdles in the operation of a cooperative credit society and how
to overcome it successfully.
This internship was definitely beneficial for me and Im grateful and thankful that
I got to experience and learn many things.
Page | 54
Page | 55