PAK ELEKTRON LTD.INTERNSHIP REPORT

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SUBMITTED BY: MUHAMMAD MOUVIA KHAN

SUBMITTED TO : H.R DEPARTMENT

INTERNSHIP AREA: FINANCE & ACCOUNTS Depts.

COMSATS Institute of Information Technology, Lahore.

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EXECUTIVE SUMMARY

Pak Elektron Ltd. incorporated in Pakistan on March 03, 1956 as a public limited company under the

companies Act, 1984 (replaced by companies’ ordinance 1984). Registered office of the company is

situated at 17 Aziz Avenue, canal bank Gulberg, Lahore. The company is currently listed on all three

stock exchange of Pakistan. The principal activity of the company is manufacturing and sales of electrical

capital goods and domestic appliances. These activities are organized under following divisions.

Pak Elektron Ltd. is the well known company in

Home Appliances Sector,

Power division:

Switchgear,

Energy Meter,

Transformers.

Appliances Division:

Manufacture and assembling of

Refrigerators,

Air Conditioner,

Microwave oven,

Television,

Washing machine.

But now the company has strategic partnership with LG.

My evaluation of the internship process is also part of this organization. The suggestions to

improve the system, the ideas which can be helpful for the organization are also part of the report. Every

one wishes to work with known, valuable and standardized organization. There are given some reasons to

join PEL are given in the end of the report.

The culture /process and product of the company was also part of observation, comments and ideas

about the company is also part of in the report. How this internship have a link with my qualification, what

I have studied and how my study helped me to learn the process and flow of work in the organization. The

overall view of my internship and the feedback is present in the organization.

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INTERNSHIP AND LEARNING

During my internship I worked in FINANCE & ACCOUNTS departments. In finance department I

analyzed financial position of company, sales, earning per share, profit, liabilities and assets of the

company. Further in

Finance department I worked in different sections of finance department.

1. Logistics section:

This is a material related section. Daily work done in material section is.

Daily check on production

Controlling the production plan for the future

Control on orders in hand

2. Corporate finance:

Corporate finance section is the main part of the finance department.

Here learned about

Leasing

Guarantee

Loan

3. Budgeting:

The learning in this section was How to prepare the budget for all the different sections and the departments. And allocation of budgets for different departments.

4. Treasury : The learning in this section was based on the different tasks of the section.

This section directly relates to the cash and cash affairs Inflow and outflow of cash was the basic work of

this section..

Collection

Payments

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This section deals with:

Bank dealing

Fund payments/collection

Updating banks

Foreign payments

Export transactions

5. Pre-shipment:

The learning in this section was the different steps of the work

Tender

Bidding

Acceptance

Inspection

Purchase Order

Learned about the work, how to perform etc.

Accounts department:

In accounts department we worked in different section of the

Costing

Inventory

Payable

Payrolls

Taxes

In this department we worked on

Payment and collection of funds

Prepare voters

Invoices

How to control inventory

How to calculate salaries, bonuses, and funds?

Allocation of expenses, reimbursement of expenses to employees.

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IMPROVEMENTS IN ADMINISTRATION

The timings of duty of internees should less then the employees.

Increase the stipend amount for the internee to motivate internee.

Mess requires improvement in quality as well as quantity.

Need to improve the training system of internees.

There is no differentiation between the employees through their post, designation etc. Set

specific identity / designation for E1, E2, and E3.

Improvements required in their training system, sitting places in department and their duration

in the company.

Internees must be given a lecture about the working in any specific section bye a well trained

trainee

IMPROVEMENT IN OTHER AREAS

It was a great experience to work in PEL. I got lot of experience for my professional field. I found every

thing so impressive, mannered, and regular.

In my observation this is fully mannered company still need some improvements which can increase the

productivity, goodwill and the loyalty of employees. The increase in theses field will result the worth of

organization.

When I analyzed the annual report of the company I came to know the low financial position, lot

of loans which causes the low growth of the company and low profit margin.

More the area where it needs to improve that is

Company is in over trading condition

Here need to improve the “gradually decreasing share price”.

Financial charges must decrease.

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SUGGESTIONS

PAK ELEKTRON LTD is company which has a standard in the companies of Pakistan. PEL has

disciplined and ethical groups of employees. There is a better portfolio of the company. I found here

disciplined and proper mannered in working, dressing, arrangement etc. But in some areas need to

improve some things which are beneficial to the company.

Process:

In organization is lack of employee empowerment. There should be direct communication

between manager and the employee who doing some work.

Huge documentation is used in organization.

Organization portrays the scene of centralized culture.

Culture:

Lack of female staff shows the gender discrimination in organization.

Female internees must be given a separate room for prayer.

There should be the valuable identity of the company in performing the social responsibilities like

charity, helping poor students.

PEL should be known as environmental friendly organization.

Product:

Company should have a visible competitive edge on competitors about products and services.

Quality of products needs more improvements

The shape and the designing of the products should attractive.

Low cost products as compared to competitors must be prepared.

There is much lack of advertisement of POWER DIVISION products.

There should be given the packages in different appliances products.

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INTERNSHIP PROGRAM EVALUATION

Internship should base on two steps first study and then practical work.

Study: which internee done before he comes in organization

Practical work: the basic aim of internee to join the organization

Practical work involves

Overview of work

Documentation of work

Practical work

INTERNSHIP IN PEL

Internship in PEL is based just on overview of work documentation of work and the flow of work. There

is a gap between the internees and the employees. And this gap causes the lack of practice or work for

internees. That is why the trainee is not being train through practical work. We could not do as much as

practical work here.

We got the knowledge about the departments and different sections in departments about their

responsibilities, their tasks and their functions. We got, what document is in use in which work.

We worked in account and finance department. Here the learning was

Financial position of company

Their process of financing

Software of account which is in use in organization.

Learned about their compensation and facility

Learned about leasing, budgeting, corporate finance, deals with banks.

Strategies about financing.

In accounts

Expense management

Inventory control.

Payable and receivable funds process.

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LINK BETWEEN QUALIFICATION AND INTERNSHIP PROGRAM

My qualification is MBA (Finance). And I worked in finance department and accounts departments. This

is totally relevant to my qualification.

Qualification:

During my finance study I learned:

How to prepare financial strategy for any business?

How to prepare the journal, ledgers, profit and loss statement and the balance sheets?

How to prepare budget for any special job?

The process of costing.

The system of payrolls

The process of cash inflow and out flow, Etc.

Internship :

During my internship I also worked on these points also

Here I knew what the process to perform all these works is.

There is a huge difference between the theory and the practical work of finance.during internship

we practice

How to prepare invoice or any financial document?

Practical examples of financial conditions of company.

Letter of credit procedure.

Payroll system.

How to manage expenses?

How to prepare budget?

Which strategy is suitable for which condition?

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PEL AS A FUTURE EMPLOYER

Every one wishes to work in known, standard and valuable firm. And it would be a great experience and

wish to work in PAK ELEKTRON LTD .there is some reasons to be employee in PEL.

Pak Electrons Limited is known for its continuous research and development and transfer of

technology from abroad.

There is strong position of the company which appeals the graduates to work with PEL.

There are chances to work in PEL because there most departments in the company.

In the many departments of the company there are chances to have many vacancies in the

company.

There are some reasons to join PEL

There is a strong portfolio of the company which attracts the people.

There are chances to learn more and more because advanced system are in use in PEL.

Most advanced software of accounts is in use in PEL.

There are more chances to learn and be up to date.

A strong package and compensation is a reason to be a part of PEL.

Facilities and the reimbursement of expenses is also attractive part to be part of PEL.

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TABLE OF CONTENT

1. INTERNSHIP AND LEARNING................................................................................................................2

2. IMPROVEMENT IN OTHER AREAS.......................................................................................................4

3. SUGGESTIONS...........................................................................................................................................5

4. INTERNSHIP PROGRAM EVALUATION................................................................................................6

5. LINK BETWEEN QUALIFICATION AND INTERNSHIP PROGRAM...................................................7

6. PEL AS A FUTURE EMPLOYER..............................................................................................................8

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