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INTERNSHIP REPORT

State Timber Corporation

MC 67320
CPM 10390

University of Sri Jayewardenepura


Department of Information Technology

Acknowledgment
This part of our degree programme is more valuable to develop us as careers in our
professional life.
I started my career as Finance Trainee in State Timber Corporation. State Timber Corporation
is the main supplier of furniture to state organizations and quality household furniture to our
domestic market.
I Would like to express my Gratitude for Mr.G.D.S Kumarasinghe (Deputy General Manager
Finance) and all other Staff Memebers of Finance Devision. All of them are helpful to me,
for completing my internship successfully.
And also I must thankful to Dr.Malkanthi Samarasinghe( Head of department Information
Technology) for gave us such a important chance in our university life and also for her
guidance and support.

STATE TIMBER CORPORATION


Vision
To be the nation's most trusted and best quality Timber & Timber based product provider
with market genuine leadership.

Mission
To produce Timber & Timber based products for our Customers through the Goodwill,
Updated Knowledge & Skills Gained Over Time, Within the Acceptable Quality and Legal
Frame work and by Contributing to National and Environmental Demands of Sri Lanka.

Objectives And Functions


The State Timber Corporation was established in April 1968, under the State Industrial
Corporation's Act No 49 of 1957. The functions of the State Timber Corporation are given as
follows:
Extraction of Timber from State Forests, conversion of such timber into sawn timber and
finished products, sale of logs, sawn timber and finished products and construction of forest
roads required for the above purpose.
Operation of timber and firewood sales depots.
Manufacture and marketing of any by-products from timber.
Import of Timber
Agricultural production.
Export of timber Related Finished and Semi Finished Products
Purchase of timber from private lands
Processing of forest related products.
Import of Cane.
Identification and Certification of local and Imported Timber Species through Sample
Testing.
Conduct Training Programmes on Timber Industry Related Subjects and Issue Certificate
and Under Take Environmental Awareness Programmes To Contribute Towards Developing
and Environmental Conscious Society.
Sate Timber Corporation is functioning under the Minister of Environment & Natural
Resources. Forest Plantation areas are released annually by the Forest Department under their

Forestry Management Plans to the State Timber Corporation for felling of trees and
extraction of timber. In addition a certain quantity of timber are received from the lands
owned by the Government Institutions such as Courts, Divisional Secretariats, Wild Life
Department etc.,
State Timber Corporation is functioning under the Minister of Environment & Natural
Resources. Forest Plantation areas are released annually by the Forest Department under their
Forestry Management Plans to the State Timber Corporation for felling of trees and
extraction of timber. In addition a certain quantity of timber are received from the lands
owned by the Government Institutions such as Courts, Divisional Secretariats, Wild Life
Department etc.,

State Timber Corporation


"Sampath Paya"
No. 82,
Rajamalwatta Road,
Battaramulla,
Sri Lanka

Finance Division Of State Timber Corporation

I completed my Internship with STC as finance trainee. I worked in Finance division of


STC.Deputy general manager of Finance of STC is Mr.G.D.S Kumarasinghe.And this is the
hierarchy of Finance division of STC

Sage ERP Accpac Version 5.6


Accpac ERP 5.6 Version is used in State timber Corporation as their Accounting Package.
Sage ERP Accpac integration provides access to back-office data and customer information.
Sage provides bi-directional data transferupdating both systems and avoiding redundant
data entry. Transactional and statistical data in the back office system can be viewed in realtime through the Sage interface. Sage Accpac offers point and click promotion of prospects to
customers or vendors, creating the account in the Accounts Receivable module (or Accounts
Payable module for vendors), allowing users to view the necessary transactional information
through Sage Accpac.

Benefits of using Sage Accpac ERP Business Accounting Software and ERP
solution:
1. Eliminate cost inefficiencies
2. Gain better control of processes
3. Enhance productivity, customer satisfaction, flexibility and control
4. Handle operations across multi-national markets with full multi-currency support
5. Improve communication and collaboration between all areas of your business

Training Summary

Details Of Work Done

Got Knowledge about Accpac Erp 5.6

Time Spent in hours


40hrs

version and entered cash sales Invoices


of Head office showroom and entered
journal entries into the general ledger of

STC
Prepared Contractor Payment final bills

32hrs

of kavinda construction,Peral Lanka

construction and Niron Enterprises


Prepared Region vise Profit and loss

40hrs

Statements
Prepared PowerPoint Presentation for

40hrs

Loss Making units of Stc


Prepared Stumpage Calculations and

55hrs

Stumpage Report Quarterly


Helped to prepare New annual report

25hrs

2013 and new Corporate plan of state

timber corporation
Prepared cash flow statements
monthly for STC

35hrs

I Started my internship Training with State Timber corporation on 23rd of march


2015.First,I got knowledge about all the divisions of stc by visiting those divisions. It is

helpful to identify organization main income generating sources. And also referred Past
Corporate plan and Past annual reports.
Accpac ERP 5.6 Version is used in STC as their Accounting Packege.After studying
it got knowledge about how to operate it.

Main Tasks I Performed in my Internship

Prepared Contractor Payment Final bill

State timber Corporation deal with contractors for their constructions. Pear lanka,Niron
construction,Kavinda Construction are some of them. First of all contractor gave a Cotation
with their prices. After starting the construction, Contractors send finished quantities and
amounts.STC have to check those details with the previous cotetion and finally prepare a
final bill for
payments.

Prepared profit and loss statements

State Timber Corporation has 12 Regions. Head Office has to prepare profit and loss
statements region vise. Regions send their incomes and expenses. Then I used those details to
prepare profit and loss statement.

Stumpage Calculation

Forest Department send stumpage values for forest offence and donated timber. All the
regions also quarterly send their values for that forest offence and donated timber. If there is
any dis agreed values I mentioned that in my Report that I prepared for Stumpage Quarterly.

Entered Cash Sales To the Sage Accpac

Region offices send their weekly summary of income transactions to the


head office. All income transactions are checked by considering the
sequence of invoice numbers, invoice amount with bank deposited
amount and invoice date with slip date. After verifying the accuracy of
every transaction, such transactions are recorded into the system to settle
their invoices. I was responsible for the cash transactions of Boossa
Showroom.

Prepared PowerPoint Presentation monthly for Loss Making units of Stc

Loss making units of every region is identified by analyzing the MIS 05


which is send by every region monthly. Units of which gross profit
become negative are identified as loss making units. To know the
reasons, relevant and authorized persons are contacted. And also we
have to identify cost f employees for that presentation. This
Presentation is presented by Deputy general manager finance in
Performance Conference of STC.

Helped to prepare New annual report 2013 and new Corporate plan of state timber
corporation

I prepared corporate governance, Review the Financial situation of STC, Analyze current
situation and New trends of furniture industry and also analyze how to use marketing
strategies for STC

Future Development

Over the period of my Training I think I Developed,

My Communication Skills and Analytical Skills.

Also I think Its Developed my Computer skills and technical skills.

And I developed Relationship skills because I learnt how to manage people in office
environment.
But I think I need to develop in future,

My commercial awareness. Because in my internship period I felt that it is my


mistake and I need to develop that kind of skills also.

I fell I must develop my Quantity of work in future.

I need to develop my Leadership skills and positive thinking Attitudes.