Engro Foods Limited

8km Pakpatan Road Sahiwal

Submitted To:
Mr. Shoaib Sajjad
Lecturer

Submitted By:
Aqsa Iram
FALL 13-BAF-002
20-December-17

COMSATS Road off GT road, Comsats

University Rd, Sahiwal

1
 Acknowledgement

I take this opportunity to express my profound gratitude and deep regards to my

internship supervisor at the institute Mr. Shoaib Sajjad and Mr. Suhail Afzal Qureshi
for their exemplary guidance, monitoring and constant encouragement throughout the
internship. The blessing, help and guidance given by them time to time shall carry me
a long way in the journey of my life.

I also take this opportunity to express a deep sense of gratitude to all the staff
members of Engro Foods for their cordial support, valuable information and guidance,
which helped me in completing this task through various stages.

Lastly, I thank Allah Almighty, my parents and friends for their constant
encouragement without which this internship would not be possible.

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 TABLE OF CONTENTS

1. EXECUTIVE SUMMARY…………………………………………….05
2. CHAPTER 01: OVERVIEW OF THE ORGANIZATION…………....06
2.1 BACKGROUND OF THE HOST ORGANIZATION………………..06
2.1.1 Historical background of the organization………………………....06
2.1.2 Business portfolio of the organization……………………………..08
2.1.3 List of major competitors…………………………………………..08
2.2 STRATEGIC ORIENTATION…………………………………….09
2.2.1 VISION STATEMENT…………………………………………….09
2.2.2 MISSION STATEMENT…………………………………………..09
2.2.3 OBJECTIVES & CORE VALUES…………………………………09
3. CHAPTER 02: BUSINESS OPERATIONS AND IMPLEMENTATIONS
3.1 ORGANIZATIONAL STRUCTURE…………………………………12
3.1.1 Organizational hierarchy chart……………………………………..12
3.1.2 Number of Employees…………………………………………...…13
3.1.3 Introduction of all departments……………………………………..13
3.2 STRUCTURE OF THE ACCOUNTS AND FINANCE DEPARTMENT
3.2.1 Department hierarchy……………………………………………….15
3.3 FINANCIAL STATEMENT ANALYSIS……………………………..16
3.3.1 Common Size Analysis (Horizontal and Vertical)………………….16
3.3.2 Ratios Analysis……………………………………………………...25
3.3.3 Comparison with Competitor……………………………………….25
4. CHAPTER 03: LEARNING AS STUDENT INTERN ………………..36
4.1 DUTIES & ACCOMPLISHMENT…………………………………….36
4.2 NEW KNOWLEDGE ACQUIRED…………………………………...39
4.3 PROBLEM ENCOUNTRED…………………………………………..40
4.4 HOW EXPERIENCE IMPACT ON YOUR CAREER………………40
4.5 WEEKLY REPORTS…………………………………………………41
BIBLIOGRAPHY……………………………………………………..46

3
 Executive Summary

This report is about my internship experience. My Six weeks internship in EFL

Sahiwal Plant was a compulsory part of my degree. Doing internship in EFL Sahiwal
Plant was a great opportunity for me as I got platform to acquire practical knowledge
and experience in Finance Department. EFL is an affiliate of Engro group. Now in
short span of five years they are offering a number of products. A new ice cream
Omore’ Tiramisu and Peanut Butter and Traang launched by EFL is a great success
on the side of EFL. The company is continuously moving towards success. In this
report I have discussed the brief history of EFL, their brands, departments in Sahiwal
Plant, the working of different Departments and most of all I focused on my learning
as an internee in EFL. I have explained my duties that were assigned to me during my
internship. On the basis of my working experience I also did the SWOT analysis of
the company specially focusing on the EFL Sahiwal Plant. My internship experience
will smooth the progress of my career specially while entering the professional life, as
now I have the practical experience of working in any organization. I have also
thrown light on the aspect that how internship will impact my career. Internship
experience is also a great opportunity in a way that I got a chance to evaluate and
examine the practical implementation of what I have read in my course of Accounting
and Finance. I have explained all my findings and new knowledge acquired while
working as an internee.

4
Chapter #01

2. Overview of the Organization:

“Safety Begins With Team Work”

2.1.1 Historical Background of the Host Organization:

Engro Foods Limited (EFL) has been

established in 2005 as part of a
diversification process at the Engro Group.
The plant located at Sukkur on 23 acre
land, has the raw milk reception capability
of 300,000 liters per day and UHT milk
capacity of 200,000 liters per day. The
plant has been established at a cost of Rs. 1
billion which provides direct employment to 1500 people. Engro Foods has entered
the Food business through milk processing and sale with the company’s vision to
pursue growth opportunities based on country fundamentals down strength. It also
positions the company to leverage its corporate social responsibility initiatives and
work closely with rural communities to promote integrated farming and livestock
development. This effort is expected to play pivotal role in poverty alleviation and
improving livelihoods of the poor in the milk collection areas.

Engro Foods will work with the Pakistan Poverty Alleviation Fund and its
three partner organizations to help implement sustainable business models that
increase farmer’s profitability and develop a positive social and business climate for
growth and expansion of livestock and other forms of value added agriculture.

Engro EXIMP was established in 2003, after which in 2005 Engro decided to
diversify their business more by venturing into the food business by
establishing Engro Foods Limited. Engro also ventured into the power generation
business by setting up Engro Energy Limited in 2006, which later on was renamed as
"Engro Powergen Limited" in 2008. It was established with the basic aim to play
Engro's part to tackle the energy crisis in the country. In year 2007, Engro Asahi

5
polymer divested its share in joint venture with Mitsubishi and the company renamed
as Engro Polymer and Chemicals Limited. In 2010, keeping in view the immense
diversification of Engro Chemical Pakistan Limited, it was decided to rename the
company as Engro Corporation as the holding company.

Engro Foods Limited was officially launched as a fully owned subsidiary of Engro in
2004. Using dairy as a stepping stone to enter into the food business, the Company
has established state-of-the-art processing units in Sukkur and Sahiwal, along with an
ice cream production facility in Sahiwal. Engro Foods' made its foray into the
consumer foods business in 2006 with the launch of Olper's, our flag-ship all-purpose
milk, which soon became a house-hold name widely known for its rich, creamy
freshness, high nutrition content and exciting, vibrant packaging. Since then, we have
surpassed all expectations and given the foods business in Pakistan a new direction
and a different spin with brands that go beyond the conventional and the ordinary by
forging new standards in product innovation.

Now Engro Foods Ltd is acquired by the frieslandcampina an organization of

Netherlands.

Subsidiaries:

As a holding company its subsidiaries include:

 Engro Fertilizers Limited

 Engro Foods Limited
 Engro Eximp Private Limited
 Engro PowerGen Limited
 Engro Polymers and Chemicals Limited
 Engro Vopak Limited
 Elengy Terminal Pakistan Limited

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2.1.2 Business Portfolio of the Organization:

At Engro Foods, they put great emphasis on manufacturing food products that
combine great taste with the best value and nutrition to enhance lives, excite
consumers
and exceed
expectatio
ns every
day.

Production Segments (MAIN BRNADS):

 Dairy and Beverages Segment
 Olper's Milk
 Olper's Lite
 Olper's Cream
 Olper'sTarrka
 Tarang
 OmungDobala
 Frozen Desserts Segment:
 Kulfa
 Mango
 Stick
 Orange
 Chocolate stick
 Caramel choc-bar
 Family packs

2.1.3 Major Competitors:

 Nestle (in dairy segment)

 Walls (in ice-cream segment)

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2.2 Strategic Orientation:

2.2.1 Vision:

"Our vision is to become a fast expanding

mega foods company. To achieve our vision,
the company will initially focus on dairy by
investing a substantial amount in plant, milk
collection capability and Accounts and
Finance. We are making concrete efforts to
expand in and beyond Pakistan; through
strategic international alliances, to eventually
become global."

2.2.2 Mission:

(Our mission is twofold) “To help farmers maximize their farm produce by providing
quality plant nutrients and technical services upon which they can depend. To create
wealth by building new businesses based on company and country strengths in Petro
chemicals, Information Technology, Infrastructure and other Agricultural sectors. In
pursuing the mission we shall at all time be guided in our conduct and decision
making by our Core Values.”

2.2.3 Objectives & Core Values:

At Engro Foods our core values continue to define every aspect of our way of doing
business ensuring that we value the five hats that we wear to guide us in our purpose,
principles and business operations.

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  Ethics and Integrity:

According to them, we do care how results are achieved and will demonstrate honest
and ethical behavior in all our activities. Choosing the course of highest integrity is
our intent and we will establish and maintain the highest professional and personal
standards. A well-founded reputation for scrupulous dealing is itself a priceless asset.

 Health, Safety & Environment:

According to them, we will manage and utilize resources and operations in such a
way that the safety and health of our people, neighbors, customers, and visitors is
ensured. We believe our safety, health and environmental responsibilities extend
beyond protection and enhancement of our own facilities

 Innovation & Risk Taking:

According to them, Success requires us to continually strive to produce breakthrough

ideas that result in improved solutions and services. We encourage challenges to the
status quo and seek organizational environments in which ideas are generated,
nurtured and developed. Engro appreciates employees for well thought out risks taken
in all realms of business, and for the results achieved due to them, acknowledging the
fact that not all risks will result in success.

 Community & Society:

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According to them, we believe that a successful business creates much bigger
economic impact and value in the community, which dwarfs any philanthropic
contribution. Hence, sustainable business development is to be anchored in
commitment to engage with key stakeholders in the community and society.

 Our People:

According to them, we strongly believe in the dignity and value of our people. We
must consistently treat each other with respect and strive to create an organizational
environment in which individuals are fairly treated, encouraged and empowered to
contribute, grow and develop themselves and help to develop each other. We do not
tolerate any form of harassment or discrimination.

10
Chapter#02

3. Business Operations and Implementation:

3.1 Organizational Hierarchy Chart:

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3.1.2 No of Employees:

There are 560 employees of the company working on permanent posts and 1500
employees are hired by third party. Some contractual companies are also working
within plant adding labor needs of the North plant.

3.1.3 Introduction of all the Departments:

 Administration:

Efficient management of all administrative affairs of Engro Foods (Pvt.) Limited

is the job of the Administration department. From legal matters to general day-to-
day operations of the office, the Administration department ensures that all affairs
run smoothly.

 Finance and Accounts:

The Finance and Accounting departments at Engro Foods are responsible for the
total financial management of the different businesses of the company. From the
usual accounting statements and sheets to risk and portfolio management, the team
ensures that every rupee coming into and out of the Companies' pockets is
properly documented and audited.

 Human Resource:

The Human Resource department at Engro Foods (Pvt.) limited spearheads there
recruitment process to ensure that the finest human resource is taken on board at
Engro Foods. Resumes of candidates are carefully filed and documented for
current or future reference. The department, besides carrying out succession
planning, maintains and implements HR policies pertaining to employment,
retention and superannuation. Assessing training needs of employees and ensuring
adequate training is also carried out by the professional HR team at Engro Foods.

 Marketing:

Consisting of leading marketing professionals of the industry, who are graduates

of top business schools of Pakistan, the Marketing Department ensures that from
product need identification to product development, launch and post-launch, all

12
strategic decisions are made based on authentic information and research.
Identifying the target markets, effectively communicating to them and building
the image of the brands as well as the Companies, is the job of the professionals
running the marketing at Engro Foods.

 Procurement:

As all of our food products are milk based the entire Milk Procurement
department plays a critical role in defining the quality of the end product that
reaches our customers. Ensuring regular collection of fresh and pure milk right
from the farmer to the factory and ascertaining the freshness of milk all across the
milk procurement process, is the responsibility of Milk Procurement department,
consisting of food technologists working at the collection centers and veterinary
doctors providing service to the farmers.

 Management Information System:

The MIS department at Engro Foods ensures that all automation is running error-
free at all times. Regularly modifying and updating the Company's accounting
software is also the MIS team's responsibility.

 Production:

Modern technology is part and parcel of Production at Engro Foods. The state-of-
the-art plant set up near Sukkhar has a processing capacity of more than 300,000
liters of milk per day, making it one of the largest in the country. Professionally
qualified human resource efficiently works night and day to maintain highest
hygiene standards.

 Quality Assurance:

Quality Assurance is strictly followed in Engro Foods. Qualified food

technologists at this department ensure that highest quality parameters are adhered
to through all steps of production and that the products reach the consumers as per
promise.

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  Supply and Distribution:

This department ensures timely and effective distribution of the products to

different shops and stores spread all across Pakistan. From transportation
management to obtaining route permits and approvals, is done by this department.

Structure of the Accounts & Finance Departments:

3.2.1 Department Hierarchy:

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3.3 Financial Statement Analysis:

3.3.1Common Size Analysis (Horizontal and vertical)

Horizental Analysis Of Balance Sheet

Non-Current Assets 2015 2014 2013 2012 2011

Property, Plant and Equipment 53% 58% 60% 49% 58%

Biological Assets 3.90% 3.34% 2.98% 3.01% 3%
Intangible Assets 0.24% 0.44% 0.51% 0.47% 1%
Long-term Advances and
deposits 0.51% 0.42% 0.39% 0.37% 0%

Deferred employee share

option compensation expense 0.56% 0.44% 0.70% 0.00% 0%
Investment in subsidiary 0% 0% 2% 0% 0%
Advance against purchase of
shares of Engro Foods
Netherlands B.V. 0% 0% 0% 4% 0%
Total Non-Current Assets 58% 63% 67% 57% 62%

Current Assets

Stores, spares and loose tools 3.02% 3.07% 3.08% 3.05% 3%

Stock-in-trade 11.68% 14.39% 12.82% 15.75% 16%
Trade debts 0.45% 0.37% 0.64% 0.67% 1%
Advance, deposits and
prepayments 0.51% 0.44% 0.75% 1.18% 2%
Other receivables 2.28% 11.15% 9.79% 6.49% 7%
Sales tax recoverable 14% 0% 0% 0% 0%
Taxes recoverable 8% 6% 3% 2% 0%

Deferred employee share

option compensation expense 0.35% 0.35% 0.57% 0.00% 0%
Derivative financial
instruments 0% 0% 0% 0% 0%
Short-term investments 0% 0% 1% 12% 8%
Cash and bank balances 1.10% 0.77% 2.32% 1.90% 2%
Total Current Assets 42% 37% 33% 43% 38%

Total Assets 100% 100% 100% 100% 100%

15
EQUITIES AND
LIABILITIES 2015 2014 2013 2012 2011
Equity
Share Capital 29% 30% 32% 34% 45%
Advance against issue of share
capital 0% 0% 0% 0% 0%
Share Premium 3.29% 3.37% 3.60% 3.65% 4%
Employee share option
compensation reserves 2.26% 1.56% 1.69% 0.00% 0%
Hedging reserve -0.01% -0.11% -0.04% 0.08% 0%
Premeasurements of post-
employment benefit - Actuarial
loss -0.32% -0.14% -0.14% 0.00% -6%
Unappropriated profit 22% 11% 8% 7% 0%
Total Equity 57% 45% 45% 45% 44%

Non-Current Liabilities
Long-term finances 8% 21% 30% 27% 34%
Deferred taxation 7% 5% 6% 7% 2%
Deferred income 0.00% 0.01% 0.04% 0.08% 0%

Total Non-Current Liabilities 15% 26% 36% 35% 36%

Current Liabilities
Current portion of long-term
finances 12% 6% 4% 8% 3%
Current portion of deferred
income 0% 0% 0% 0% 0%
Trade and other payables 14% 13% 14% 11% 14%
Derivative financial
instruments 0.01% 0.16% 0.06% 0.00% 0%

Accrued interest/ Mark-up on 0%

- long-term finances 0.38% 0.75% 0.95% 1.36% 2%
- short-term finances 0.03% 0.24% 0.04% 0.03% 0%
Short-term finances 1.56% 9.07% 0.00% 0.38% 2%

Current portion of obligations

under finance lease 0% 0% 0% 0% 0%
Total Current liabilities 28% 29% 19% 20% 21%

Total Equities and Liabilities 100% 100% 100% 100% 100%

16
Analysis:

First of all we will talk about position of the corporation. According to historical
data or trend analysis of the balance sheets of the corporation from year 2011 to
2015, in year 2011 the most liquid assets which are bank or cash was not in excess
that was 2 % more than the year 2012 and it was contributed little in the total assets
of the corporation but after 2011 these assets were fluctuate a lot. In year 2012 it
was decreased by 1.90% and in year 2012 it was increased a bit and the total most
liquid assets were now 2.32 %, in 2014 it decreased by 0.77 % that show company
have not enough in their hands but it depends on other related factors like short
term investments and accounts receivables. In year 2015 this ratio increases a little
by 1.10 overall performances was a very bad indication about the most liquid assets
of the corporation if we talk about acid test ratio of the firm. But condition of short
term investments which are in last 3 years from 2011 to 2013 was contributed
which are a good sign for the company. In 2011 company invest 8% of their cash in
short term investments due to which the ratio of most liquid assets was 2%, in 2012
this ratio is increased by 12 % that also reflect the reason behind the low ratio of
most liquid assets that was in 2012 1.90%. In 2013 they not invest a lot in short
term investments so the contribution of short term investments in current assets of
the company in 2013 was just 1% and they have cash and bank more as compare to
previous years. In next 2 years they invest nothing but the ratio of most liquid assets
was also low due to high ratios of stock in trade and other receivables. Fixed assets
were constantly fluctuate in 2011 this was 62% but in 2012 this ratio is decreased
by 57% due to discounting the processes of Omore Lassi in case of flop in
market.in very next year they start manufacturing of Tarang a tea whitener so there
noncurrent assets are increased by 67%. In 2015 this ratio again decreased due to
the stop manufacturing of some ice-cream flavors like Khoya Khajoor, Strawberry
flavor and ice-creams sticks.

According to Equity & Liabilities side of balance sheet, in year 2011 share capital
was increased by 45% but in next 4 years this ratio is decreased due to low share
premium. Ratio of unappropriated profits was also increased every year. While the
hedging reserves are also in decreasing trend from year 2013 to 2015.It remained
highest in year 2013. Non-current liabilities have a decreasing trend from 2011 to

17
2015 that was a good sign for the company and its means also they invest their on
profits in the business for expansion rather than getting loans and owners’ equity.
This ratio was starting to decrease by 36% in 2011 to 15% in 2015. They just get
short term financing and in 2015 they have to pay 12% of the long term financing
that’s why their current liabilities in 2015 were 28. According to the liabilities side
of the firm against year 2011 was remained stable and good.

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 Vertical Analysis of Balance Sheet:

Non-Current Assets 2015 2014 2013 2012 2011

Property, Plant and 144% 156% 151% 114% 100%
Equipment
Biological Assets 206% 173% 144% 135% 100%
Intangible Assets 48% 84% 92% 78% 100%
Long-term Advances 555% 451% 385% 338% 100%
and deposits
Deferred employee 87% 67% 100% 0% 0%
share option
compensation expense
Investment in 0% 0% 0% 0% 0%
subsidiary
Advance against 0% 0% 0% 0% 0%
purchse of shares of
Engro Foods
Netherlands B.V.
Total Non-Current 148% 158% 156% 123% 100%
Assets
Current Assets
Stores, spares and 139% 138% 129% 118% 100%
loose tools
Stock-in-trade 116% 140% 117% 132% 100%
Trade debts 135% 110% 176% 171% 100%
Advance, deposits and 50% 43% 68% 98% 100%
prepayments
Other receivables 52% 247% 203% 124% 100%
Sales tax recoverable 0% 0% 0% 0% 0%
Taxes recoverable 154825% 113445% 44116% 23196% 100%
Deferred employee 68% 66% 100% 0% 0%
share option
compensation expense
Derivative financial 0% 0% 0% 0% 0%
instruments
Short-term 0% 0% 13% 209% 100%
investments
Cash and bank 82% 56% 159% 120% 100%
balances

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Total Current Assets 174% 149% 126% 149% 100%
Total Assets 158% 154% 145% 133% 100%
0% 0% 0% 0%
EQUITIES AND
LIABILITIES
Equity
Share Capital 102% 102% 102% 101% 100%
Advance against issue 0% 0% 0% 0% 0%
of share capital
Share Premium 120% 120% 120% 112% 100%
Employee share 146% 98% 100% 0% 0%
option compensation
reserves
Hedging reserve 10% 153% 53% -92% 100%
Premeasurement of 9% 4% 4% 0% 100%
post-employment
benefit - Actuarial loss
Unappropriated profit 365% 168% 113% 100% 0%
Total Equity 206% 160% 148% 139% 100%
Non-Current
Liabilities
Long-term finances 39% 98% 127% 107% 100%
Deferred taxation 590% 385% 499% 536% 100%
Deferred income 3% 14% 54% 100% 0%
Total Non-Current 68% 113% 147% 130% 100%
Liabilities

Current Liabilities
Current portion of 682% 345% 222% 363% 100%
long-term finances
Current portion of 0% 0% 0% 0% 0%
deferred income
Trade and other 156% 138% 144% 101% 100%
payables
Derivative financial 9% 148% 52% 0% 100%
instruments
Accrued interest/ 0% 0% 0% 0% 0%
Mark-up on
- long-term finances 27% 53% 62% 82% 100%

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- short-term finances 34% 302% 51% 32% 100%
Short-term finances 162% 924% 0% 34% 100%
Current portion of 0% 0% 0% 67% 100%
obligations under
finance lease
Total Current 211% 214% 134% 128% 100%
liabilities

Total Equities and 158% 154% 145% 133% 100%

Liabilities

Analysis:

In year 2011 and 2012 the ratio of cash and banks were increased by 100% and 120
%. While in years 2013 ratio was increased by 159 % but in 2014 it was decreased
by 56% and in 2015 this ratio increased by 82%. This shows in year 2011, 2012 and
in 2013 corporation have highest cash in hand as compared to other years. Stock in
trade in 2011 was 100% while in year 2012 the ratio was increased by 132%. In
2013 ratio was deceased a little by 117% as compared to last year. In 2013 the ratio
was increased by 140% and in 2015 again ratio was decreased a little by 116%.
This shows that in 2014 company has highest stock in trade as compared to other
years. Overall current assets of the company have a constant increasing trend which
was remained increased by 133% to 158%from 2011 to 2015. The ratio of property
plant and equipment from fixed assets was also an increasing trend with some slow
fluctuations. Long term advances and deposits were also in increasing trend and
grow year by year. In year 2015 the ratio was 555% which shows company invests
more and it was a good sign for the company. Investment in long term deposits
were remained most contributing item in total assets of the corporation. Deferred
employees share options are also increase in last three years which was zero in 2011
and 2012. Fixed assets were constantly increase by 123% from year 2011 to year
2014the ratio in year 2014 was 158% and in year 2015 ratio was decreased a little
by 148%.

According to Equity & Liabilities side of balance sheet, in year 2011 share capital
of the company was45% and in next four years the ratio is decreased and in 2015

21
this ratio was at 29%. While the employees’ compensation reserve was increased
year by year from 0% in 2011 to 2.26% in 2015. Ratio of unappropriated profits
was also having an increasing trend and the ratio in 2011 was 0% but in 2015 this
ratio was 22%. Long term financing non-current liabilities were highly contributed
item of the Liabilities side of Balance Sheet throughout 5 years. The ratio of long
term financing liabilities was decreased year by year. In 2011 the ratio was 34% and
in 2015 this ratio was at only 8% that was a good sign for the company. And
according to vertical analysis year 2011 remained most stable year as compared to
all other years. While year 2013 remained most fluctuating and with highest assets
and liabilities year.

Horizontal Analysis of income Statement:

Profit and Loss Account 2015 2014 2013 2012 2011
Sales 100% 100% 100% 100% 100%
Cost of Goods 76.86% 81.17% 78.51% 74.31% 77.80%

Gross Profit 23.14% 18.83% 21.49% 25.69% 22.20%

Marketing and distribution

expenses 9.94% 10.91% 13.36% 11.72% 12.45%
Administrative expenses 2.78% 2.98% 2.75% 1.84% 1.69%
Other operating expenses 0.74% 0.24% 0.50% 1.07% 0.70%
Other income 0.65% 0.71% 0.86% 0.95% 0.71%
Operating Profit 10.34% 5.41% 5.74% 12.01% 8.08%
Other expenses 0.00% 1.39% 2.33% 0.00% 0.00%
Finance costs 1.72% 2.87% 2.07% 2.25% 3.51%
Profit before taxation 8.62% 1.15% 1.34% 9.76% 4.56%
Taxation 2.27% 0.92% 0.78% 3.30% 1.58%
Profit for the year 6.35% 2.07% 0.56% 6.46% 2.98%

If we talk about performance of the corporation so in profit & loss account, net
income was fluctuated in preceding 5 years. In year 2011 the ratio of net income
was 2.98 % in year 2012, ratio was increased by 6.46% while in year 2013 it was
decreased by 0.56%, in year 2014 ratio was again increased by 2.07%and in year
2015 it was increased by 6.35 %. Profit before income tax was highest in year 2012
which was more than 50 % as compared to year 2011, and in year 2015 this was
also increased by more than 80% as compared to year 2014. But in year 2011

22
income before tax was increased by 40%. Taxation was also highest in year 2012,
which was increased by 70 % than the last year. While taxation ration was increased
by 15 % in year 2011. It was increased by 70 % in year 2012, while it was
decreased a lot by in year 2013 and again decreased by 0.92% in year 2014. Profit
after tax remained highest in year 2012 that was increased by 51 % from previous
year. According to these extracted ratios of Profit & Loss Account, in year 2012 the
financial performance of corporation remained very good throughout year and
Surplus Appropriated was most contributing item of Profit & Loss Account in year
2012.

Vertical Analysis of Income Statement:

Profit and Loss Account 2015 2014 2013 2012 2011

Sales 167% 144% 127% 135% 100%
Cost of Goods 165% 150% 128% 128% 100%
Gross Profit 174% 122% 123% 156% 100%
Marketing and 133% 126% 136% 127% 100%
distribution expenses

Administrative expenses 274% 254% 206% 147% 100%

Other operating expenses 176% 50% 90% 206% 100%

Other income 153% 143% 152% 179% 100%
Operating Profit 214% 97% 90% 200% 100%
Other expenses 0% 0% 0% 0% 0%
Finance costs 82% 118% 75% 86% 100%
Profit before taxation 315% 36% 37% 288% 100%
Taxation 240% -84% 63% 281% 100%
Profit for the year 355% 100% 24% 291% 100%

Analysis:

And if we talk about the performance of the corporation then according to Profit &
Loss Account of the corporation, in years 2011, 2012, 2013, 2014 and 2015 the net
income was fluctuated. And surprisingly the profit before tax was constantly
increased by 100 % in all 4 years expects 2013. Taxation was increased with same

23
trend in all years but also decreased with the same trend in year 2013 and in 2014
and profit after tax was increased by 100 % in year 2011, 291% in year 2012, 24 %
in year 2013, 100 % in year 2014, 355 % in year 2014. The overall performance
remained good in all years and increased over the year relatively to the effecting
factors.

3.3.2 Ratio Analysis:

Liquidity Ratio:

Liquidity ratios are the ratios that measure the ability of a firm to meet their current
obligations. These ratios are shows the number of times a firm pay their current
obligations from their current assets. If the value is 1 that’s means company fully
covered their current obligation. Liquidity ratios greater than 1 shows that firm is in
good financial position and it have a low chance of falling into financial difficulties.

Liquidity ratio can be measure by using three liquidity ratios:

 Current ratio
 Acid test ratio
 Working capital ratio
Current Ratio:

Years 2015 2014 2013 2012 2011

Efoods 1.5 1.3 1.7 2.1 1.8
Nestle 1.16 1.06 1.1 1.1 1.03

2.5

1.5 E Foods
1 Nestle

0.5

0
2015 2014 2013 2012 2011

24
Explanation:

Bench mark of current ratio is 1.5 to 2. A ratio under 1 show that an organization's
liabilities are higher than its current assets and organization is not able to meet their
current obligations. Ratio less than 1 demonstrates that the organization is not having
enough money. Ratio greater than 2 indicates that firm has excess assets but not
invest them properly. This ratio varies industry to industry. For some industries 2 is a
good sign but for some industries 1.5 is a good ratio.

The current ratio of the company is shows a good performance. In previous two years
in 2011 and 2013 company performance is good but in 2012 company have excess
assets manager not efficiently invest excess assets. Current ratio of Engro Foods Ltd
indicates that the company managers efficiently manage their liquidity but also they
have some excess money for investment.

Acid Test Ratio:

Years 2015 2014 2013 2012 2011

Efoods 1 0.7 0.9 1.2 0.9
Nestle 0.26 0.23 0.25 0.24 0.18

1.4

1.2

0.8
E Foods
0.6 Nestle
0.4

0.2

0
2015 2014 2013 2012 2011

Explanation:

Quick ratio standard bench mark is 1 to 1.5. Ratio under 1, shows that company’s
current assets have a large part of inventory other than most liquid assets. Ratio

25
greater than 1 shows a good performance and healthy position of most liquid assets
that a firm has.

Quick ratio of Engro Foods Ltd shows that in 2011, 2013 and 2014 company mostly
relay on their inventory. In 2012, 2015 and 2016 company have a good ratio but in
next two years company have surplus assets in their stock and manager did not invest
excess assets in the business. Cash is surplus in the hand but not invested by the
manager very well.

Cash to Current Liabilities Ratio:

Years 2015 2014 2013 2012 2011

Efoods 0 0 0.1 0.1 0.1
Nestle 0.1 0.1 0.2 0.1 0.2

0.25

0.2

0.15
E Foods
0.1 Nestle

0.05

0
2015 2014 2013 2012 2011

Explanation:

Generally speaking, high cash to current liabilities ratio is good for firm. This
indicates a better liquidity position and shows us that a greater portion of the firms
current liabilities can be covered using its cash and cash equivalents. Engro Foods
have low cash to current Liabilities ratio because they have less equivalent assets and
they manage their excess cash very well. A firm which is very efficient in managing
its excess cash but it doesn’t necessarily mean that it is less creditworthy as compared
to a firm having a higher ratio. So that’s why Engro Foods have a low ratio.

26
Activity Ratios:

The second type of ratios is known as the Activity Ratios. Activity ratios shows that
how son a company convert their operating assets into cash. Activity Ratios show
how much an organization has put resources into a specific kind of advantage (or
gathering of benefits), in respect to the income the advantage is creating.

Account Receivable Turnover/ Average Collection Period:

Years 2015 2014 2013 2012 2011

Efoods 1.9 1.7 1.6 1.8 1.8
Nestle 1.74 1.69 1.81 1.95 1.98

2.5

1.5
E Foods
1 Nestle

0.5

0
2015 2014 2013 2012 2011

Explanation:

Accounts receivable should always be greater than accounts payable. The company
will receive its money faster from its customer when the average collection period is
low and on the other side the higher the average collection period the customer will
take longer time to pay their payments. In this situation the company will be less
stable.

Account receivables ratio shows that how many times a company recover their debts.
A company must receivables turnover is higher as compare to payables turnover. In
Engro Foods Company pay early but receive late. This is a not a good sign for the

27
company. In 2011, 2015 this ratio is very low its means they recover more late and
accounts payables times are much higher. So it was a alarming sign for the company.

Account Payable Turnover:

Years 2015 2014 2013 2012 2011

Efoods 0.8 1.1 1.5 1.1 0.9
Nestle 6.5 6.8 6.7 7.8 7.6

50
45
40
35
30
25 E Foods
20 Industry
15
10
5
0
2015 2014 2013 2012 2011

Explanation:

This ratio shows the time period to the investor, in which the company pays its
average payable amount. Alternately, a lower creditor liabilities turnover proportion
as a rule means that an organization is moderate in paying its suppliers. Be that as it
may, a high records payable turnover proportion is not generally to the greatest
advantage of an organization. Numerous organizations develop the time of credit
turnover (i.e. lower creditor liabilities turnover proportions) getting additional
liquidity.

Accounts payables turnover ratio means how many times a company payout their
current liabilities in a year. This ratio of Engro Foods is very high that means they pay
more early but receive money late. This is a not a good sign for the company health.
Company must retain constant the number of their payouts and increase the number of
receivables times.

28
No of Days Inventory Turnover:

Years 2015 2014 2013 2012 2011

Efoods 32.2 35.4 40.4 37.5 37.1
Nestle 61.6 61.1 51.9 65.4 68.5

80
70
60
50
40 E Foods

30 Nestle

20
10
0
2015 2014 2013 2012 2011

Explanation:

Stock turnover proportion is utilized to evaluate how proficiently a business is dealing

with its inventories so it is important to have high turn. When all is said in done, a
high stock turnover shows proficient operations. This also shows the liquidity of the
inventory. And how easily a company turns its inventory into cash?

Inventory turnover shows that how many times a company covert their raw material
into finished goods and sell out. Engro foods inventory turnover is very well and
according to industry average. In 2013 they complete their cycle 40.4 times in a year
but in next 4 years this ratio is low but not much low. Average ratio is approximately
equal to 23 times in a year. Engro Foods have to introduce such technology that their
competitors are used and try to increase their production cycle.

29
Profitability Analysis:

Gross Profit Margin:

Years 2015 2014 2013 2012 2011

Efoods 23.10% 18.00% 20.50% 24.70% 21.60%
Nestle 28.82% 25.01% 28.66% 28.03% 26.66%

35.00%

30.00%

25.00%

20.00%
E Foods
15.00% Nestle

10.00%

5.00%

0.00%
2015 2014 2013 2012 2011

Explanation:

Gross profit margin ratio measures benefit. Higher amount of gross profit shows that
firm has a more amount of revenue to cover their non-production costs. In large
production and manufacturing business process gross profit margin measure the
efficiency of production plant.

Gross profit margin ratio indicates that how much a firm gain from their operations.
Engro gain a large part of profit from their operation. In 2011 this ratio is 21.60% and
in 2015 this ratio reaches at 23.10%. Continuously this ratio is in increasing trend till
now. This is a good sign because they minimize their cost and gain profits. But the
ratio is below from the competitors. Nestle was stand at this time in market with the
highest efficiency ratio that was in year 2015 is 28.82%. Engro Foods must have to
attain the ratio equal to industry average.

30
Return on equity:

Years 2015 2014 2013 2012 2011

Efoods 21.10% 7.70% 2.00% 25.90% 12.30%
Nestle 34.98% 30.67% 56.27% 68.53% 70.83%

80.00%
70.00%
60.00%
50.00%
40.00% E Foods
30.00% Industry
20.00%
10.00%
0.00%
2015 2014 2013 2012 2011

Explanation:

Normally the investors like to see the high return on equity because it shows that
company is using its investor’s funds effectively. Higher ratios are always better than
the lower ratios but have to be compared with the others company’s ratio of the
industry

Return on equity ratio shows that how much investor can gain on their investment.
Engro Foods return on equity ratio in 2011 is 12.30% and in 2015 this ratio is reaches
at 21.10%. In 2012 this ratio is 25.90% that shows a positive trend and investors gain
a high return on their investment. But according to the Nestle this ratio shows that
they have a much high return on their assets as compare to Engro. Reason behind the
low ratio of Engro Foods is their low popular and low established brands as Nestle
have.

Total Asset turnover:

Years 2015 2014 2013 2012 2011

E Foods 1.9 1.7 1.6 1.8 1.8
Nestle 1.74 1.69 1.81 1.95 1.98

31
 2.5

1.5
E Foods
1 Nestle

0.5

0
2015 2014 2013 2012 2011

Explanation:

On the off chance that an organization can produce more deals with fewer resources it
has a higher turnover proportion which lets it know is a decent organization since it is
utilizing its benefits proficiently. A lower turnover proportion tells that the
organization is not utilizing its advantages ideally.

Total assets turnover ratio shows that how much a firm utilized their assets effectively
for generating profit. Engro Foods generates profits from their assets 1.8 in 2011. This
ratio is gradually fluctuates during the upcoming years with a constant trend. In 2015
this ratio reaches at 1.9 this ratio is a positive sign for the company. According to the
Nestle trend Engro foods performance is very good and they earn almost equal and
more than their competitor’s Nestle.

Return on Equity:
Equity
Ratio 2015 2014 2013 2012 2011
Efoods 57% 45% 45% 45% 43%
Nestle 45% 40% 34% 35% 34%

80.00%
70.00%
60.00%
50.00%
40.00% E Foods
30.00% Nestle
20.00%
10.00%
0.00%
2015 2014 2013 2012 2011

32
Explanation:

Normally the investors like to see the high return on equity because it shows that
company is using its investor’s funds effectively. Higher ratios are always better than
the lower ratios but have to be compared with the others company’s ratio of the
industry.

Return on equity ratio shows that how much investor can gain on their investment.
Engro Foods return on equity ratio in 2011 is 43% and in 2015 this ratio is reaches at
57%. In 2013 this ratio is 45% that shows a positive trend and investors gain a high
return on their investment. Nestles profitability on equity is fluctuated during the
observing year and they earn less as compare to Engro Foods.

Leverage Analysis:
Times Interest Earned Ratio / Coverage Ratio:

Interest Coverage
Ratio 2015 2014 2013 2012 2011
Efoods 6.21 1.93 2.89 5.54 2.36
Nestle 9.48 6.26 8.05 8.58 7.96

10

6
E
4 Foods

0
2015 2014 2013 2012 2011

Explanation:

A high proportion demonstrates that a firm has a good record of paying their
obligations. A low and fluctuating scope from year to year demonstrates a poor
period. In speculation a deeply stable business a moderately low scheme scope
proportion might be fitting, where as it may not be suitable in an exceedingly
repetitive business.

Times interest earned ratio shows that how many times a firm pays interest on debts
which they borrow. Engro Foods pays their debt holders 2.36 times a year in 2011 and
in 2012 they pay 5.54 times. This ratio gradually in increasing trend and in last in
2015 this ratio reaches 6.21 times a year. In investors point of view this is good

33
because they receive a high return as compare to debt holders. Nestle pay more as
compare to Engro Foods their ratio is going to the benefits of creditors.

Debt to Equity:

Debt-to-Equity 2015 2014 2013 2012 2011

Efoods 0.76 1.22 1.24 1.21 1.3
Nestle 1.24 1.52 1.93 1.83 1.94

2.5

1.5
E Foods
1 Nestle

0.5

0
2015 2014 2013 2012 2011

Explanation:

A lower debt ratio is favorable for the company it seems to be less risky. A higher
debt ratio is unfavorable because it shows that company is rely most on its external
lenders which seems to be high risk.

Debt to equity ratio shows that how many part of capital is covered by the equity.
This ratio is good as much high this ratio. In Engro Foods this ratio is 1.3 in 2011 and
1.22 in 2014 that shows a positive trend. In 2015 this ratio is 0.76 that is not much
high. In industry ratios of Engro Foods is according to industry trend but not much
high, they are close to their competitors.

34
Chapter #04

Learning as a Student Intern:

4.1 Duties & Accomplishment:

I worked on DES (Daily Expense sheet). This is a sheet that employees use in order to
claim for some specified expenses such as mobile, travelling expenses. Firstly I
verified the amounts and bills that are attached to the sheets and then I put their data
in SAP.
I work for different departments like accounts, HR, logistics, EMAN, Purchase,
commercial, and also get a brief overview about the Audit procedure of Milk
procurement and agri. Services business. I attend a safety training and safety
orientation on the rules of safety department and also get knowledge about the safety
measures and preventing measures of the Engro Foods in case of any danger.

 Accounts:

First of all I learn about the daily expense statements of the employees which account
office receive for the payments of daily or monthly expenses in felid and area offices.
I also learn how to prepare Daily expense statements. I cross check a lot of daily
expense statements during my internship program and also prepare. After that I learn
about the petty cash books of the Engro Foods that are known as PCDV’s (Petty Cash
Disbursement Vouchers) in which they records all the daily expenses of the field and
area offices including zonal offices of the Engro foods. PCDV’s contain two columns
in which two types of expenses are recorded MCC (Milk Collection Center) and area
office expenses.

I learn about the payment procedure of the tankers weight bridge charges of each
tanker. When tanker come in Plant first of all check the weight of milk in the tanker at
Weight Bridge and then move it for further procedures.

I learn about the leasing procedure of the buildings which Engro Foods get after
advance payment of the buildings for conducting their business in different locations
for the different business usage. I also learn about the journal vouchers which the
accounts officer prepares against the expenses. I also prepare journal voucher and

35
journal entries for the given cases by the supervisor. Engro Foods deals with lease
under IAS17 lease standards.

I learn about the bank reconciliation procedure of the Engro Foods and learn how to
prepare in excel sheets and in SAP. I also cross verify the bank statements with the
Engro Foods accounts with the help of Sir Ishaq khan.

I learn about the phone billing procedure of Engro Foods Employees. Engro foods
provide phone billing facility to their employees for office use and provide them their
separate sim numbers. I cross check the final excel sheet with the bills which accounts
office receive from Jazz Telecommunication Company.

I learn about the accruals procedures of the expenses and learn how to prepare
monthly expenses statement by calculating cost of the month. I also learn how to
calculate cost for one month. Engro Foods use IAS 1.27 for the treatment of accruals.

I learn about the salary scroll and add new employees in the salary scroll from the
contracts which they made with the Engro Foods.

I learn about the tax procedure and also learn how calculate tax and procedure of the
payment of tax. Engro foods pay input and output tax on the production and also pay
withholding tax on the behalf of the vendors before making payments to them.
Payment of withholding tax is made on weekly bases to the National Bank of Pakistan
(NBP).

Learn about the concept of cash and bank book which Engro Foods Ltd prepare for
recording the transaction with banks and for the record of payments which they
receive from customers.

 Human Resource:

I work for the HR department and design an activity for the employee engagement
and check the employee’s personnel profiles according the P numbers. I attend a CSR
activity conducted by Engro Foods Ltd and visit the Daar ul Amaan and spend a day
with the residents and distribute gifts among the residents and staff of the Daar ul
Amaan.

36
I learn about the Employees Old Age Benefits EOBI’s and work on the excel sheet
and cross check the data base records with the company final records and also
highlighted the employees data who’s cards are receive from the insurance company.

 Logistics:

I learn about the logistics procedure and in Engro foods two types of logistics are used

Inbound: use for carry raw materials from the recommended places and raw milk
from MCC’s.

Outbound: used for delivering finished goods at warehouse and to distributers.

I convert the SOP’s (Standards of Operations) in the format of Frieslandcampina.

I also separate the values of main, feeder and total for the month of July.

I also learn about the procedure of how they collect milk from MCC’s, from the small
chillers, big farmers and farm houses. Engro Foods use transportation for milk
collection in the form of milk tanker and send milk tankers to areas on demand and
according to the capacity of milk which they have to collect. I also get a brief over
view about the procedure when tankers are reached at plant and first of all they have
to ensure their entry pass from the related authority and after that procedure of
measuring the weight of the milk at Weight Bridge and cross check the documents
and it make sure that the tankers have the same quantity of milk which they receive
from the MCC’s or not. After this procedure quality tests are applied on milk and test
the milk according to the required quality standards if milk is according to the
required quality standards then accept that milk if not then sold it to local hotels or
any other party who wanted to purchase that milk.

 EMAN:

I learn about the Engro milk Automation Network how it works and convert the
SOP’s of EMAN in the format of Frieslandcampina.

37
  Purchase:

I work for the purchase department and learn how to prepare purchase orders after
getting purchase requisition from the different departments and after verification of
the authority.

After this procedure purchase officer conduct bidding with the vendors in SAP Ariba
software and invite vendors for bidding and gain order. Every authority has a specific
limit for approving purchase order. This procedure called as LOAM (Limit of
Authority Members) at this workplace.

 Audit:

I get a brief overview about the audit functions of Milk Procurement and Agri.
Services department and the field of this department including Area Offices and
satellites offices and the MCC’s. I learn about all the preventing and deducting
measures that Engro Foods used for avoidance of any mishap.

 Commercial:
I work for the commercial department and separate the fixed assets codes area
vise with the name and location of that asset and find them in excel sheet and
highlighted the found results.

4.2 New knowledge Acquired:

Basically I am a student of Accounting &Finance and did not have much knowledge
about the other fields like HR, Commercial, and Logistics. I work for them and gain
new knowledge about them and the working procedure of the departments. I work
more in HR department and acquire more and more knowledge about the HR process
and the functions of the HR departments.

I also learn how to prepare daily expenses statements and how to transfer the salaries
of the employees with the affiliation of Mr. Abdul Hakeem budgeting officer of Milk
Procurement & Agri. Services. I also learn about the tax payments procedures.

38
4.3 Problem Encountered:

Due to the confidential data and information of Finance and accounts I can’t gain
particle knowledge about the payments procedures and most of the work of the
finance department. I just have a brief overview about the finance department. The
time period was too short that’s why I can’t do working and observe all departments
in depth except Finance and Accounts Department. Supervisors in all departments did
not enough time to guide me about each and every thing about departments there I did
work with their sub-ordinates. Financial Statements are only prepared at Principal
Office, that’s why I can’t do financial analysis at zone level.

4.4 How Experience Impacts Your Career

 Become familiar with organizational set up.

 Learn how to response to organizational culture.

 Observe the practical working activities.

 Learn how we can implement our gained knowledge in our related field.

 How to communicate with our supervisor and colleagues.

 Which type of office decorum we have to maintain to be an employee?

 And learn why punctuality and dress code is mattered a lot in any
organization.

 It will help to reduce hesitation, nervousness and curiosity about the

management of any organization and help to adjust in the culture and politics
of organization at the time when we newly joined or going for an interview in
any organization.

 And we will also be a little bit familiar with the working activities and
practical implementations of knowledge that we have gained by our
institutions.
Learn these things will definitely impact our career because before internship
we did not know anything about above things.

39
 4.5 Weekly Reports:

1st Weekly Report:

COMSATS Institute of Information Technology,

Sahiwal
Department of Management Sciences

WEEKLY REPORTS PRO FORMA

Student Name: Aqsa Iram Reg. #: FA13-BAF-

Information 002

Weekly Starting Date: 11th July 2017 End Date: 18th July
Reports 2017

Weeks Lessons learnt

Week 1 from Activities Performed:
DD/MM/YYYY to Verification of documents against receipts which account
DD/MM/YYYY office receives from felid for payments. Documents include
daily expense statements of workers which perform duty in
milk collection department and petty cash book statements of
area offices.

Tasks Accomplished:
Engro Foods Ltd is acquired by Frieslandcampina and the head
quarter converts the system of Engro Foods Ltd according to
the system of Frieslandcampina. For this I convert the
Logistics SOPs of the Engro Foods according to the
requirements and format of Frieslandcampina.
Others:
I work for the HR manager and design an activity for
employee engagement.

40
 2nd Weekly Report:

COMSATS Institute of Information Technology,

Sahiwal
Department of Management Sciences

WEEKLY REPORTS PRO FORMA

Student Name: AQSA IRAM Reg. #:FA13-BAF-002

Information

Weekly Starting Date: 19-7-17 End Date:25-7-17

Reports

Weeks Lessons learnt

Week 2 from Activities Performed:
19/07/2017 to Verification of logistics milk tanker receiving receipts.
25/07/2017
I prepare daily expense statement.
Learning about the audit system of the Engro Foods and check
their controls and their deductive and preventing approaches
for handling the frauds.
Engro foods use SAP Ariba software for biding with vendors I
learn how to use SAP Ariba software for biding and monitor 2
biddings with vendors.

Tasks Accomplished:
Resource allocation of the assets of all the departments and
area offices including chillers and logistics.

Others:
I work for the IT department and prepare SOPs for them
according to the format of Frieslandcampina. SOPs are Engro Milk
Automation Network (EMAN).

41
 3rd Weekly Report:

COMSATS Institute of Information Technology,

Sahiwal
Department of Management Sciences

WEEKLY REPORTS PRO FORMA

Student Name: Aqsa Iram Reg. #: FA13-BAF-002

Information

Weekly Reports Starting Date: 26-07-2017 End Date: 01-08-2017

Weeks Lessons learnt

Week 1 from Activities Performed:
26/07/2017To Prepare purchase order and monitor bidding.
01/08/2017 Resource allocation of the assets of Engro foods and all the area
offices.
Prepare daily expense statements.
Verification of petty cash books.

Tasks Accomplished:
Prepare petty cash books and expense statements for the month
of July.

Others:
Conduct a CSR activity for charity purpose on behalf of Engro
foods management and visit Daar ul Amaan Sahiwal and spend
hole day there.
Attend a safety training orientation.

42
 4th Weekly Report:

COMSATS Institute of Information Technology,

Sahiwal
Department of Management Sciences

WEEKLY REPORTS PRO FORMA

Student Name: AQSA IRAM Reg. #:FA13-BAF-002

Information

Weekly Reports Starting Date: 01-08-2017 End Date:08-08-2017

Weeks Lessons learnt

Week 1 from Activities Performed:
01/08/2017to Learn about the lease procedure of the buildings which Engro Foods
08/08/2017 Ltd use for training to employees and for other business uses.
Prepare journal vouchers for the payments records of lease.
Learn about the accruals procedures and treatments of accruals in
Engro Foods Ltd accounts. Learn how to prepare and calculate cost for
the month in excel sheet.

Tasks Accomplished:
Perform bank reconciliation procedure and cross verify the bank and
company record for the month of July.

Others:
Cross verify the company employees’ insurance cards record with the
data base of the insurance company.

43
 5th Weekly Report:

COMSATS Institute of Information Technology,

Sahiwal
Department of Management Sciences

WEEKLY REPORTS PRO FORMA

Student Name: Aqsa Iram Reg. #: FA13-BAF-002

Information

Weekly Reports Starting Date: 09-08-2017 End Date: 16-08-2017

Weeks Lessons learnt

Week 5 from Activities Performed:
09/08/2017To Learn about the phone billing procedure and cross verification of the bills
16/08/2017 which Engro Foods receive from Jazz telecommunication Company with the
excel sheet of the company records. This facility is provided by Engro Foods
to their employees for office use.
Checking of logistics bills against the final sheets of bills which is presented
for payments.

Tasks Accomplished:
Visit Dairy and Ice Cream Plant and check all the fixed assets which
are used in production and also checking of assets codes.

Others:
Update personnel profile of employees and cross verification of existing
documents.

44
 6th Weekly Report:

COMSATS Institute of Information Technology,

Sahiwal
Department of Management Sciences

WEEKLY REPORTS PRO FORMA

Student Information Name: Aqsa Iram Reg. #: FA13-BAF-002

Weekly Reports Starting Date17-08-2017 End Date: 21-08-2017

Weeks Lessons learnt

Week 6 Activities Performed:
from Learn about Job description.
17/08/2017 Learn about hiring process of employees
to
Learn about the procedure of logistics payment of Engro foods
21/08/2017
Task Perform:
Learn about the taxation procedure of Engro foods and also learn
about the concept of filer and non-filer tax payer and also learn about the
procedure of withholding tax payments
Others:
Design MPAS hierarchy and also prepare report on learning
during internship program and submitted to the supervisor at
Engro foods

45
BIBLOGRAPHY:

Naeem Ahmed , R. K. (2017, July- August). HR Officer. (A. Iram, Interviewer)

Engro Foods. (n.d.). Retrieved September 2016, from www.engrofoods .com:

http://www.engrofoods.com

Ihtusham, S. (2017, July). Procurement Officer. (A. Iram, Interviewer)

John, M. J. (2017, July- August). Audit Officer. (A. Iram, Interviewer)

Mumtaz, H. (2017, July-August). Billing Officer. (A. Iram, Interviewer)

Ihtisham, R. (2017, July-August). Purchase Officer. (A. Iram, Interviewer)

46