ACKNOWLEDGEMENTWhile showing my interest in chartered accountant firm so many people support my idea and many others helped me in preparing this comprehensive report. This is now completed.

I am thankful to my family how really support me and my ideas, without which I cannot take a single step. I am also thankful to my respected teachers who guides and provides me skills on which I have completed the report.

I am very thankful to Ghafoor & Co. Principal and Staff, which adds value of professionalism to my personality and polished my skills further. Especially i want to mention the names without which it would very difficult for me includes Mr. Abid Hussain, Mr. Asim Iqbal, Mr. Mansoor Khan, Mr. Aamir Jamal and my other colleagues share useful views and suggestion in preparing my report.Table of Contents

1ACKNOWLEDGEMENT

2Table of Contents

3PREFACE

4CHAPTER - 01

4INTRODUCTION OF STUDY

41.1)BACKGROUND OF THE STUDY

51.2)PURPOSE OF STUDY

51.3)SCOPE OF STUDY

61.4)LIMITATION OF THE STUDY

61.5)RESEARCH METHODOLOGY

8CHAPTER - 02

8INTRODUCTION

82.1)ABOUT CHARTERED ACCOUNTANT FIRM

82.2)HEAD OFFICE

92.3)INTRODUCTION OF GHAFOOR & CO

92.4)ORGANIZATIONAL STRUCURE

102.5 SERVICES RENDERED BY THE CA FIRMS

102.5.1)AUDITING

112.5.2)TAXATION

112.5.3)CORPORATE SECTOR

122.5.4)PROFESSIONAL CONSULTANCY

122.5.5)MANAGEMENT CONSULTANCY

13Chapter 3

13What I learned

133.1 DUTIES AND OBLIGATIONS OF STUDENTS AND PRINCIPALS IN CA FIRM

14HOW TO CONDUCT AUDIT

18AUDIT PROCESS

24CHAPTER 4

24Critical ANALYSIS

24SWOT ANALYSIS

24STRENGTH:

25WEAKNESSES

26OPPORTUNITIES

26THREATS

27RATIO ANALYSIS

31FINANCIAL ANALYSIS

31CONSIDERATIONS FOR PROJECT ANALYSIS

32Chapter 5

32FINDINGS AND RECOMMENDATIONS

33CONCLUSION

35BIBLIOGRAPHY

PREFACE

In this special report an attempt has been made to contextualize the scenario by pooling scattered information on CHARTERED ACCOUNTANT FIRM.After the completion of four years course of M.COM (Finance) all the students are must be prepare a Report of the practical experience. For this purpose student are to be allowed to do an Internship of two months from any business organization i.e. banks, factory or any Institution.

The members of CA Firms are authorized for public are the real sources where the activities of the profession are originates and flourished.Therefore, I have highlighted almost all relevant topics including giving background of the accounting profession in the country areas of work being performed by a firm of chartered setup it has to maintain and also by fairly describing the terminologies generally found by the commerce and management students in their books.

CHAPTER - 01

INTRODUCTION OF STUDY1.1)BACKGROUND OF THE STUDY

A firm runs by one or two more partners authorized by Institute of Chartered Accountant Pakistan Ordinance 1961 to conduct internal and external audit of public and private limited companies, NGOs and other organization.

CA firms assist the organization in legal and financial matter. They assist him in making their statement up to international standard of accounting. They conduct audit of the organization compute their tax and submit the report to the concerned authority.

The main aim behind the establishment of the institute of Chartered Accountant of Pakistan was to conduct the training of CA students and provide highly dedicated professionals though a process of conducting and passing specific examinations successful students were then admitted the members of the institute and after the fulfillment of certain conditions, eligible members were entitled to practice and were allowed to train CA students.

Ghafoor & Co was established as a Chartered Accountant Firm in 23rd April 1990. This firm has provided useful services to the Govt. Private and other Institutions.1.2)PURPOSE OF STUDYThe purpose of the study is to give a comprehensive review of the chartered accountant firm and to analyze its financial aspects. Besides that, the purpose of the study is to compare the theoretical knowledge with the actual practical work.

In short the study will be a standard to determine how tasks should be performed and carried out and how is they being performed in reality.

1.3)SCOPE OF STUDY

The time duration of eight weeks is quite insufficient for conducting complete study and observation of a large firm. Being a student specializing in finance, the main focus of my study research was to get maximum knowledge and practical know how of conducting audit and tax dealing of the firm.

1.4)LIMITATION OF THE STUDY

Nothing is perfect except Allah, since this is a sincere effort. No matter how efficiently the study is conducted, it cannot be perfect in all respects. This study is conducted in accordance with its objectives of the study. Thats May not include broad explanation of facts and figure due to nature of the study. Secondly the limitation, which affects the study, is the restriction on mentioning every fact of the CA firms due to the problem of secrecy.

1.5)RESEARCH METHODOLOGYFor writing this report the information has been collected by following ways.

There are two types of data used for report writing.

i-PRIMARY DATA

The data, which is collected for the first time and exist in raw form, is called primary data.

It includes:

a. Personal observation

b. Discussion with staff

c. Informal interviews with senior auditor

ii- SECONDARY DATA

The data gathered from existing sources are called secondary data. They are in processed form.

The main sources of secondary data are:a. Annual reports of ICAP

b. ICAP website/ internet

c. Monthly newsletter of ICAP

d. Brochures

e. Relevant book

1.6)SCHEME OF STUDYThe scheme of study of the report is as under

Section one is about the introduction of the study, which includes its Background, Purpose and Scope of the study Research methodology and the Scheme of study.

Section two is about the literature review, which includes services rendered by CA Firm Auditing, Taxation, Consultancy services and corporate sector services.

Section three is about the financial analysis of the company, which includes the swat analysis, Ratio analysis, and Project consideration.

Section four include finding & recommendation prescribes for the CA Firm to further improve its functioning and conclusions.

CHAPTER - 02

INTRODUCTION

2.1)ABOUT CHARTERED ACCOUNTANT FIRM

A firm runs authorized by institute of chartered Accountant of Pakistan Ordinance 1961 to conduct internal and external audit of public and private limited companies, NGOs and the other organization.

C.A firms provide tax, audit and advice on other legal matters to the financial aspect of the organization under the rule and regulation of the CA by laws of the International Accounting Standards.

The main aim behind the establishment of the institute of Chartered Accountant of Pakistan was to conduct the training of CA students and provided highly dedicated professionals through a process of conducting and passing specific examinations successful students were then admitted the members of the institute and after the fulfillment of certain conditions, eligible members were entitled to practice and were allowed to train CA students. With the passage of time the institute of Chartered Accountant of Pakistan is playing its role as one of the most organized professional body of the country.Ghafoor & Co was established as a Chartered Accountant Firm in 23rd April 1990. This firm has provided useful services to the Govt. as well as private department and other institutions.2.2)HEAD OFFICEThe head office of Ghafoor & Co is opposite of GPO Saddar Road.2.3)INTRODUCTION OF GHAFOOR & COThe principal of this Chartered Accountant firm is Abdul Ghafoor. At present time Ghafoor & Co constitute 15 staff Members out of which 9 are the students of this firm and the remaining staff consists of Mr. Syed Asif Aziz ud- Din Bukhari is General Manager & Mr. Abid Hussain is Audit Manager, Mr. Mateen Khan acting as Corporate Manager, Mr. Mansoor Khan acting as Accounts and Tax Manager.

In case any complexity they take guidance from General Manager who is specialist of tax and management affairs.

2.4)ORGANIZATIONAL STRUCURE

The GHAFOOR & CO. current organizational structure as follows:-

2.5 SERVICES RENDERED BY THE CA FIRMSChartered Accountant firms render various types of services to their clients according to the type and nature of the clients. The nature of service also differs from firm to firm, which includes corporate services, feasibility report, professional consultancy etc. Firm has also been widened individuals, corporations, association of persons, nonprofit making organizations and Non-Governmental Organizations (NGOs).

Chartered Accountant firms provide professional services in the field of auditing, taxation, and management consultancy to utmost satisfaction of their client. Today the service rendered by a CA firm in such a wide variety has made it more and more worthwhile. The detail of services by the CA firms in the various fields is below.

2.5.1)AUDITING

An audit is the independent examination of financial statement or related information of an entity, whether profit oriented or not, and irrespective of its size, or legal form, when such an examination is conduct with a view to expressing an opinion thereon

An audit is the independent examination of books of account and all the public and private limited company under company ordinance 1984 are mandatory that the chartered accountant must sign their books of accounts

All the NGOs And welfare trust also examine their books of account from chartered accountant firm because the govt. and their donors have trust on the certificate of chartered accountant

The audit process include the checking of trial balance then the entry in trail balance are reconciled with the entries in Ledger accounts and the amounts of ledger are reconciled with the Journal voucher(JV) with supporting evidence. After this process then they express their opinion upon the accuracy or inaccuracy of the accounts. They write an audit report and also mention the various transactions, which are not duly verified. They also write audit report to the management in which they express any weakness of the management how to control these weaknesses. They are rendering for such services charges some fee.2.5.2)TAXATION

Under income tax law tax could be defined as t Tax means any tax imposed under the income tax law. It also includes any penalty, fee or other charge or any sum or amount livable or payable under income tax ordinance 2001

The chartered accountant firm have specialized department for taxation as I early mentioned and some firms only in tax related matter.

The client who needs the services regarding to tax pay fee for such services and the auditor gives him a very useful service by the tax returns.2.5.3)CORPORATE SECTOR

This field deals with the Security exchange commission of Pakistan (SECP), that includes the services registration of partnerships, Companies. License from S.E.C.P for commencement of business. Changing in the article of association and memorandum of association, and many other services.

2.5.4)PROFESSIONAL CONSULTANCY

CA Accountant firm provide professional consultancy services to its valuable customer, The staff may not have professional auditor but he has all the necessary skill and professional education so they analyze the organization , identify the sick unit for privatization, and also for the establishment of the organization .

2.5.5)MANAGEMENT CONSULTANCYCA firms provide management consultancy to their clients. In management consultancy include development and implementation for accounting system, manuals and management information system. In order to make their management efficient they appoint staff may or may not have a professional auditors qualification. Sometimes the company independent auditors to conduct the internal audit of their accounts. The auditor checks the system and the policies of the management along with the books of accounts. The auditor has to report to the management whether the policy and plans of activities prescribed by them have been implemented, whether the internal check and internal control established are adequate, whether the actual result are obtained and varying form the estimates, and to enable the management to achieve the objective of the company in a planned manner.

Chapter 3

What I learned

3.1 DUTIES AND OBLIGATIONS OF STUDENTS AND PRINCIPALS IN CA FIRM

The duties and obligations of a student in a CA firm are

I. He will throughout his term of training serve in his principals office on his principals business of public accountant or occupation.

II. He will not at any time during the said term destroy, cancel, spoil, embezzle or take copies of books, papers, plans, documents, monies of his principal, partner or for his clients.

III. He will at all times keep the secrets of the principal or his partner or of their clients.

IV. He will readily obey and execute the lawful and reasonable commands of the principal during the said term.

DUTIES AND OBLIGATIONS OF A PRINCIPAL IN A CA FIRMS

I. He will by the best means in his power and to the most of his skill and knowledge instruct the trainee student and afford him such reasonable opportunities as may be required to enable him to acquire the art, science and knowledge of accountancy.

II. He will at the expiration of the said term use his best means and endeavors at the request, cost and charges of the trainee student to cause to be admitted on the register of members, pursuit to the chartered accountant ordinance 1961.HOW TO CONDUCT AUDIT

THE OPERATION OF AUDIT

The audit work is operated with the help of the following techniques:

.1)TICKING.

.2)CASTING.

.3) CALLING OVER

.4)VOUCHING.

.5)VERIFICATION.

.6)REPORTING.

1. TICKINGTicking indicates the placing of a mark against an entry in the book to denote that the auditor has examined it for a certain purpose. Variously shaped marks are used to denote checking of additions, posting, carry-forward, tracing, extraction of balances etc. Ticks are generally put in indelible pencil, although some auditors also use pen and ink for this purpose.

2. CASTINGCasting refers to the checking of additions of books of accounts and financial statements. It is essential that arithmetical accuracy be checked so that frauds or errors (if any) may be detected. A junior member of audit staff normally does this job. Most of the auditors use mechanical appliances or adding machines to check the casting of the books of accounts.

3. CALLING OVERSome part of audit work consists of comparison of two or more books of accounts with supporting documents; this is usually performed by two members of staff. One Member is reading the item and the other is reconciled. Here the precaution is that check complete evidence/supports not only the amounts the books, checking and posting of the personal ledger, names and title of accounts, otherwise the error may not be detected clarity of voice is essential.

4. VOUCHINGA voucher is a documentary evidence which proves the accuracy or otherwise of transaction appearing in the books of accounts.

The different types of voucher are follows

Cash receipt

Cash payment

Purchases

Sales

Purchase return

Sales return

Journal entries

Vouching means and includes the examination of every business transaction wit its supporting documentary evidence, the checking of which satisfy the auditor that transaction is in order. If the auditor failed to vouch the item correctly he must be held negligent in the performance of his duties.

5. VERIFICATIONThe process of vouching enables an auditor to confirm the acquisition of an asset or the assumption of a liability on a stated date.

Sub section 3 of section 255 of the require and auditor to submit his report to shareholder specifically mentioning whether or not the balance sheet exhibits a true and fair view of the state of company affairs according to the best of his information and the explanation given to him true as shown in the books of the companyThe auditor discharge his duty after due verification. The techniques of verification are followings.

He satisfies himself of the existence of and asset or liability.

Correct valuation of the assets and liability.

Question of ownership is valid and true in respect of and asset and liability.

Each time of asset and liability disclosed as legally required under the law.

6. REPORTINGPerforming the above duties the auditor has to submit a report. The report of the content depends upon several factors.

E.g. the legal status of the appointing authority

The audit is performed under the companys ordinance 1984. Banking ordinance 1962, insurance act 1938.The audit report to be submitted after the annual audit of account of company in prescribed form 35-A annexed to the companies rules 1985Modern trends follow the under noted sequence: Examination of the accounting system.

Evaluation of internal controls.

Sample checking of vouchers.

Verification of assets and liabilities.

Submission of auditors report.AUDIT PROCESS

Every successful audit is based on sound planning and an atmosphere of constructive involvement and communication between the client and the auditor. I see quite a few organizations that include a web based explanation to their clients how the audit process work. The purpose of providing this page is for those audit organizations that have not explained to their clients how, in general, the audit process works. It is also design to provide a resource of for sharing tools and techniques for each of the distinct phases of the audit process.

Audit Process

Although every audit project is unique, the audit process is similar for most engagement and normally consists of four stages: Planning (Sometimes called survey or Primary review), field work, audit report, and follow up Review. Client involvement is critical at each stage of the audit process. As in any special project, an audit results in a certain amount of time being diverted from your departments as usual routine. One of the key objectives is to minimize this time and avoid deputing ongoing activities.

Planning

During the planning portion of audit, the auditor notifies the client of the audit, discusses the scope and objectives of the examination in a formal meeting with organization management, gathers information on important processes, evaluates existing controls, and plans the remaining audit steps.

Announcement Letter

The client is informed of the audit through an announcement or Engagement letter from the internal audit director. This letter communicates the scope and objectives of the audit, the auditors assigned to the project and other relevant information.

Initial Meeting

During this opening conference meeting, the client describe the unit or system to be reviewed, the organization, available resources (Personnel, facilities, equipments, funds) and other relevant information. The internal auditor meets with the senior officer directly responsible for the unit under review and any staff members s/he wishes to include. It is important that the client identify issues or areas of special concern that should be addressed.

Preliminary Survey

In this phase the auditor gather the relevant information about the unit in order to obtain a general overview of operations. S/He talks key personnel and review reports, files, and other sources of information.Audit Program

Preparation of the audit program concludes the preliminary review phase. This program outlines the fieldwork necessary to achieve the audit objectives.

Fieldwork

The fieldwork concentrates on transaction testing and informal communications. It is during this phase that the auditor determines whether the controls identified during the preliminary review are opening properly and in the manner described by the client. The fieldwork stage concludes with a list of significant findings from which the auditor will prepare a draft of the audit report.

Transaction TestingAfter completing the preliminary review, the auditor performs the procedures in the audit program. These procedures usually test the major internal controls and the accuracy and propriety of the transactions. Various techniques including sampling are used the fieldwork phase

Advice and Informal Communications

As the fieldwork progresses, the auditor discusses any significant findings with the client. Hopefully, the client can offer insights and work with the auditor to determine the best method of resolving the finding. Usually these communications are oral. However in more complex situations, memos and emails are written in order to ensure full understanding by the client and the auditor.

Audit Summary

Upon Completion of the fieldwork, the auditor summarizes the audit findings, conclusions, and recommendations necessary for the audit report discussion draft.

Working Papers

Working papers are a vital tool of the audit profession. They are the support of the audit opinion. They connect the clients accounting records and financials to the auditors opinion. They are comprehensive and serve many functions.

Audit Report

Our principal product is the final report in which we express our opinions, present the audit findings, and discuss recommendations for improvements. To facilitate communication and ensure that the recommendations presented in the final report are practical, internal audit discusses the rough draft with the client prior to issuing the final report.

Discussion Draft

At the conclusion of fieldwork, the auditor drafts the report. Audit management thoroughly reviews the audit working papers and the discussion draft before it is presented to the client for comments. This discussion draft is prepared for the units operating management and is submitted for the clients review before the exit conference.

Exit Conference

When audit management has approved the discussion draft, internal audit meets with the units management team to discuss the feelings recommendations, and text of the draft. At this meeting, the client comment on the draft and group works to reach an agreement on the audit findings.

Formal Draft

The auditor then prepares a formal draft, taking into account any revision resulting from the exit conference and other discussions. When the changes have been reviewed by audit management and the client, the final report is issued.

Final Report

Internal audit prints and distributes the final report to the units operating management; the units reporting supervisor, the vice president for Administration, the University Chief Accountant, and other appropriate members of senior University Management. This report is primarily for internal university management use. The approval of the internal audit director is required for release of the report outside of the university.

Client Response

The client has the opportunity to response the audit findings prior to issuance of the final report which can be included or attached to our final report. However, if the client decides to respond after we issue the report; the first page of the final report is a letter requesting the clients written response to the report recommendations.

Client Comments

Finally, as part of internal audits self-evaluation program, we ask comment on internal audits performance. This feedback has proven to be very beneficial to us, and we have made changes in our procedures as a result of clients suggestions.

Audit Follow-Up

Within approximately one year of the final report, internal audit will perform a follow-up review to verify resolution of the report findings.

Follow-Up Review

The client response letter is reviewed and the actions taken to resolve the audit report findings may be tested to ensure that the desired results were achieved. All unresolved findings will be discussed in the follow-up report.

Follow-Up Report

The review will conclude a follow-up report which lists the actions taken by the client to resolve the original report findings. Unresolved findings will also appear in the follow-up report and will include a brief description of the finding, the original audit recommendations, the client response and the current condition.CHAPTER 4Critical ANALYSIS

SWOT ANALYSIS

CHARTERED ACCOUNTANT FIRM AT ITS STRENGTHS WEAKNESSES OPPORTUNITIES AND THREATS

STRENGTH:I. INCORPORATION

Experience of operations, as the firm was incorporated / established in 1961.

II. AUDIT

Ghafoor and company has a qualified staff for audit all the work is based on manual as well as computer.

III. INCOME ESTIMATION

Has a good team for income estimation.

IV. GOOD INFRASTRUCTUREThe infrastructure of Ghafoor & company is very much probable and effective. Progress work carried out time to time to maintain the standard up to the mark.

V. RELIABILTY

Strong centralized & reliable system controlled by Institute of Chartered Accountants of Pakistan.VI. REWARD TO STUDETNSOffering good stipend for article ship students and for internees for their hard work.

VII. GOODWILL

Good reputation among customers & have got honorable good will amongst all.

VIII. FINANCIAL RESOURCES

It has adequate financial resources which fulfill his basic requirements to maintain current status in the society.

IX. BUSINESS ATITUDE

The company has good competitive skills to compete with the other companies.X. RUNING WITH TIME

By small means we adapt our programmed each year to meet our members requests.

XI. COLLABORATION

Ghafoor & company have a very good & friendly environment among the staff members and with the honorable clients.

WEAKNESSESI. PUNCTUATIONDelay in report delivery to companies.

II. LESS NUMBER OF STAFF MEMBERS

Less number of staff members providing services to number of clients, which causes delay in work to be done on time.

III. COSTLY SERVICES

Provides costly services to customers as compared to other companies.IV. MARKET VALUE

Ghafoor and company have low market presence or reputation.

V. COMPETITVE SKILLS

Ghafoor and company is never as competitive as compared to its clients.

OPPORTUNITIESI. PROGRESSIVE RESULT

Ghafoor and company clients are increasing with the passage of time.II. FINANCIAL SERVICES

Trying to provide financial services that have a wide use in this field.

III. ACCURACY

In comparison of Ghafoor and company with its competitors has an edge to make an accurate and error free report.

IV. SUPPORTING BODY

The Ghafoor and company have the facility to give coverage even the small retailers for income estimation who want to take loans from.

V. QUALIFIED STAFF

The company has mostly professional educated human resources, which are the biggest threat for their competitors.

VI. DETERMINATION & SELF CONFIDENCE

The total economy of the company continues to be strong and we believe our typical clients will continue to flourish.

THREATS

I. CHALLENGING ENVIRONMENT

Ghafoor and company has many competitors under certain circumstances

These companies may have a act as major threat to the organization. Change in ICAP policies can act as a threat for chartered accountant firms.

II. FLUCTUATION IN MARKET POSITION

A small change in focus of a large competitor might wipe out any market position, Ghafoor and company achieve.

III. FBR POLICIES

Sudden change in the policies of FBR urges ICAP to change its policies which put extreme pressure on chartered accountant firms to level their current status.

RATIO ANALYSIS

A ratio is a quantitative relation between two magnitudes of the same kind. In ratio analysis, the financial ratios of the firm are compared to that of its competitors. This comparison allows the firm to detect major operating differences, which, if corrected, will increase its efficiency. Another very popular method of ratio analysis is to compare the firms financial ratios to industry averages.

Before discussing financial ratios, three cautions are in order:

I. A single ratio does not generally provide sufficient information to judge the overall performance of the firm. Only when a group of ratios is used, a reasonable judgment concerning the firms overall financial state can be made.

II. An analyst, when comparing financial statement, should ensure that predetermined uniform standards are used for this purpose.

III. It must be ensured that the data used in calculating financial ratios have been developed in the same manner and are sound and reliable.

There is no doubt that financial ratios are a useful guide for managerial decision-making but these are not exact and definite. Ratios only suggest the questions that need to be answered and provide no answers.

Let us now calculate some of the key financial ratios of Taj syringes (pvt) Ltd for the years 2008-2012, and try to answer the questions that these ratios suggest.

These ratios are calculated from the Balance Sheet and Profit & Loss Account of TAJ SYRINGES (PVT) LTD. 1)CURRENT RATIO

Current Assets

Current Ratio

Current Liabilities

Current Ratio (2012) =20671907 / 13156669 = 1.32

Current Ratio (2013) =23393169 / 42097696 = 5.5

Current ratio of the Ghafoor & Co. has increased to 4.18 in 2012-12. This shows that liquidity of the company has increased. But it should also be kept in mind that too much liquidity decreases the profitability. The reason is that the cash on hand is the most unproductive asset and the surplus cash should be invested in short-term ventures.

2)INTEREST MARGIN

Int. Income Int. Expense

Interest Margin = ( 100

Int. Income

Interest Margin (2012) =

Interest Margin (2013) =

The interest margin of the company has improved from 35.7 percent in 2012 to 40.6 percent in 2013. This suggests managements efficiency to attract less costly deposits and make higher-yield investments.

3)NET PROFIT MARGIN

Profit after Taxation

Net Profit Margin =

( 100

Interest Income

Net Profit Margin (2012)=

Net Profit Margin (2013)=

The net profit margin of Taj syringes (pvt) Ltd has also shown an improvement as its raised to 3.61 percent in 2013 as compared to 2.32 percent in 2012. These signals towards higher efficiency and lower administrative costs of the company during 2013.4)RETURN ON EQUITY

Profit after Taxation

Return on Equity=

( 100

Share holders Equity

Return on Equity (2012)=

Return on Equity (2013)=

The return on equity has increased to 14.53 percent in 2012 as compared to 11.03 percent in 2013. The return on equity replicates the net profit margin trends, with the company registering good performance because of better efficiency.

5)RETURN ON ASSETS

Profit before Taxation

Return on Assets=

( 100

Total Assets

Return on Assets (2012)=

Return on Assets (2013)=

The return on assets has improved to 0.76 percent in 2013 as compared to 0.63 percent in 2012. This indicates the success of management to utilize the assets of the company efficiently.

6)INVESTMENT-DEPOSIT RATIO:

Investments

Investment Deposit Ratio

Deposits

Investment Deposit Ratio (2012)=

Investment Deposit Ratio (2013)=

The investment-deposit ratio of the company has also dropped drastically during 2013. This suggests a tilt of the company towards higher risk and consequently higher-yield investments, rather than undertaking less risky loaning activity.

FINANCIAL ANALYSIS

The following schedules are prepared to judge the project from the financial angle:

I. Cost of Project

II. Means of Financing

III. Estimates of Sales and Production

IV. Cost of Production

V. Working Capital Requirements

VI. Break Even Point

VII. Projected Cash Flow Statement

VIII. Projected Balance Sheet

CONSIDERATIONS FOR PROJECT ANALYSISI. To Identify Promising Business Opportunities

II. To Develop a strategy for Sustainable Competitive Advantage

III. To Forecast Realistic and Incremental Cash Flows

To Calculate the Net Present Value of a Project

Chapter 5

FINDINGS AND RECOMMENDATIONS

Following are my recommendations to increase the quality of serviceI. Its my suggestion for chartered accountant firm to maintain superlative planning from start to end.

II. Its my suggestion for chartered accountant firm to maintain computerized system in the firm for different task.

III. Allocate duties and responsibilities to member of the firm.

IV. Create department in the firm.

V. Create definable organizational structure for different operationsVI. Create top to bottom information system.

VII. Create definable financial structure

VIII. Look at all complaints about your service as an opportunity to improve.IX. Establish an environment where great service is recognized and rewarded and poor service is challenged and rectified

X. Have a fun staff meeting where good service elements are discussed and role played.

XI. Ensure that your staff feels they are an important part of your success.

XII. Do things regularly to improve the workplace.

XIII. Create a sort of enthusiasm you want to inspire in your employees. Their enthusiasm will naturally pass on through their service.

XIV. Be sure your employees are aware of your expectations .clear service guide lines and knowledge of the companys mission are necessary.

XV. Hire the right people for the right job

XVI. To improve the loyalty of employees with the organization it is necessary that proper incentive must provide to each level of employees.

XVII. It is necessary that the management must continuously develop technical and managerial skills at all levels.

If all the above suggestions are seriously considered. It will help to develop long run relations with the clients and they will become brand loyal forever.

CONCLUSION

In the conclusion remarks I would like to say something that Ghafoor and company is the profitable organization Ghafoor and company played very vital role in his field by providing attractive service and packages to the customers.

Ghafoor and company has very wide network coverage national and international with latest technologies and provide services to its valued customers. I have done internship in Ghafoor and company for a period of six weeks and this period is quiet a small period of time yet I have learn a lot.

Here I apply my knowledge and get a technical practice of my knowledge. Now I know about the environment of organization and how to communicate with colleagues and boss.

I learn that how to use theoretical knowledge in organization my communication skills are improved my decision making power is improved now I have power to decide about the future.

Ghafoor and company is a customer oriented as well as employee-oriented company so it provides a very friendly environment for the employee any internee like me has a good chance of learning new things and techniques and increases his confidence.

Now I have the advance knowledge and analytical and problem solving skills needed to be a truly effective part of todays business environment. Now I can prepare the accounting records analyses financial reports and document of an organization check the accuracy of financial statement can ensure that the documents represented are drawn up on correct accounting principles can maintain cost auditing records, compiling cost information and performing cost audits.

Taxation involves dealing with direct taxes like income tax assessment of taxes, e-filling of returns and providing advice on indirect taxes, investigation includes expert examination of specific aspects of business for the information of interested parties on new issues of share capital, the purchase, sale or financing of a business and for reconstruction.

In concluding all this I can say that Ghafoor and company add a great value in my professional life.

BIBLIOGRAPHY

www.icap.gov.pk.

Auditing Books.

Income Tax Books.

Wikipedia.

ICAP Newsletter.

ICAP Brochures.

Annual Report of ICAP.

Business Magazines Personal Interview form seniors.

Head of the Firm (Principal)

General Manager

Corporate Manager

Audit Manager

Tax Manager

STUDENTS

Serious grammatical mistakes. There is a need to proofread the report from a well versed English literature student or teacher.

Inclusion of commas can help the reader to understand the viewpoint of the report writer

There is a need to learn the use of comma to separate different sentences

Background of the report is required, not that of ICAP

Consul the format

Be specific

The definitions and unnecessary details must be omitted

Unable to understand

Kindly make me understand

CA Firm must be replaced with Abdul Ghafoor & Co. in this report

History of Ghafoor & Co. is required

IS THIS REQUIRED?

Can not understand

Serious errors and lack of conformity among the statements at different parts of report

TAJ SYRINGES (pvt) LTD. ????????

Can the financial statements of the firm be provided?

Who are depositing with the firm?

Make me understand

Who are the shareholders?

Where are they investing?

This is beyond my understanding

Please explain

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