A Project Report on Summer Internship Program of VPA

Submitted In Partial Fulfillment for the Award of Degree

of Master in Business Administration (MBA) In the Faculty of Commerce of Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur

Submitted By Sadhu Charan Birua

Project Guide Mr.Hemant Deshmukh

Dr. Ambedkar Institute of Management Studies and Research Deekshabhoomi, Nagpur

[DAIMSR, NAGPUR]

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CERTIFICATE

This is to certify that the report entitled to the SIP VPA is a bonafide work carried out & developed by Sadhu Charan Birua in partial fulfillment of the award for the MBA Course during the Academic year 2010-2011, submitted to Dr.Ambedkar Institute of Management Studies And Research.

To the best of my knowledge the matter presented in this project report is not been submitted earlier for a similar degree and is of sufficiently high standard to warrant its presentation for the said examination.

Place: Date: Director

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DECLARATION

I, the undersigned hereby declare that the report entitled on the SIP is the record of original work done by me during academic session 2010-2011. The work presented here is not duplicated from any other source and also not submitted earlier by me for any other degree. I understand that any such duplication is liable to be punished in accordance with the Collage rules.

Sadhu Charan Birua Signature

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ACKNOWLEDGEMENT

I take this opportunity to express my deep sense of gratitude to my project guide Mr.Hemant Deshmukh who has rendered guidance throughout the year in making my project work a success. He deserves special thanks for his patience in clarifying my doubts whenever necessary. I am extremely indebted to Mr.Hemant Deshmukh for his invaluable help, guidance and cooperation that he extended to me through this project work. I would also like to thank our respected Director Sujit Metre, for providing me with all necessary facilities to carry out my SIP work successfully.

Sadhu Charan Birua Signature

INDEX
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No. 1

CONTENTS Introduction :- VPA The Background Promoters Products

PAGE NO. 7

2 3 4

8 9

12 14 17

5 6

Competitors Market share position Objective of the project SWOT Analysis of VPA Actual work done Project review Conclusion Suggestion Bibliography

7 8 9 10 11 12 13

18 19 22 29 33 34 35

EXECUTIVE SUMMARY

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Vidarbha Professional Academy (VPA) is one of the leading institutions imparting class room teaching to students pursuing CHARTERED ACCOUNTANCY in Central India. It was founded in 23rd June, 1996 by CA Rakesh Agrawal. He started with a single branch in Laxmi Nagar with only one in few subjects. Later CA Vipul Vora joined him in February 2005 as a managing partner. With time and dedication of promoters today VPA has grown to such an extent that it provides all the subjects of all levels in CA/CS and also provides basic commerce coaching for XI & XII commerce (State & CBSE Board) from last 5 years. VPA has mainly two promoters that is CA Rakesh Agrawal (Founder) & CA Vipul Vora (Managing Partner). VPA pays only service tax as per the government rule that is 10.3%.VPA has mainly three products, XI & XII Commerce, CA & CS. There are many coaching classes who deal with same products of VPA but mainly two competitors of VPA in Nagpur are Central Academy of Professional Studies (CAPS) & Accountancy Academy. I worked in the VPA for 48 days. Different works which i had done in VPA are counseling, interviewing, event management, promotion, distributions tell counseling, back office, which was a great experience

With the help of Summer Internship I got an opportunity to get a practical exposure and to know the organizational realities. I also got to know the management, functions of manager that is planning, organizing, staffing, directing, coordinating, controlling, decision making etc. practically which was an awesome experience and which will help me in my future.

INTRODUCTION OF VPA
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Vidarbha Professional Academy (VPA) is one of the leading institutions imparting class room teaching to students pursuing CHARTERED ACCOUNTANCY in Central India. It was founded in 23 rd June, 1996 by an excellent and dedicated expert. VPA experts endeavor to provide quality education to students so that the latter can face the examination with renewed vigor and confidence. The Institution ensures intellectual competency with the formula for success, where preparation meets opportunity. Academic Excellence characterized by innovative teaching, personalized services and easy class schedules meet the needs of our students. The Institute has its own modules for CPT, PCC, IPCC and Final students which are thoroughly concept based, to add to these modules, VPA provide class notes, which are very systematic, well-planned and exhaustive so as to cater to the needs of the CA students and aspirants. VPA act as a catalyst to help the students overcome this challenge and reap the benefits of a glorious career option. VPA has proved oneself as the BEST ACADEMY in NAGPUR by giving the highest scorer in Accounts, Taxation and IT/SM which is not possible without knowledge.

THE BACKGROUND

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Vidarbha Professional Academy was founded in the year 23 rd June, 1996. CA Rakesh Agrawal is the founder of VPA. He started with a single branch in Laxmi Nagar with only one in few subjects. Later CA Vipul Vora joined him in February 2005 as a managing partner. With time and dedication of promoters today VPA has grown to such an extent that it provides all the subjects of all levels in CA/CS and also provides basic commerce coaching for XI & XII commerce (State & CBSE Board) from last 5 years.

THE PROMOTERS
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o CA Rakesh Agrawal (Founder) o CA Vipul Vora (Managing Partner)

CA RAKESH AGARWAL (Founder): Founder of VPA B.Com from Pune University with merit Gold Medalist in Cost Accountancy during B.Com from Pune University. M.com first class with distinction in advanced cost & Management Accounting from University of Pune.

Passed ICWA in the very first attempt & secured 3rd position in Pune chapter of cost Accountants. Passed CA Final with 32nd rank in all India merit list from ICAI, New Delhi.

Passed State Eligibility Test (SET) in commerce in the very first attempt. Passed Mutual Fund & Derivations core, module examination of Capital Market, held by National Stock Exchange, Mumbai. Teaching experience of 20 yrs. in the field of Professional coaching, known as one of the best teacher in India for the subject of Cost & Management Accounting. Passed Information Systems Audit Exam (ISA) conducted by ICAI, New Delhi. He is considered as a God of Costing.

CA VIPUL VORA (Managing Partner):-

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 Managing Partner of VPA Passed C.A. Final in May 2002, at the age of 21 to become one of the youngest CAs in India. Core faculty for Income Tax & Account. Visiting Faculty to one of the top ten MBA College in India- IMT Mobile tiger trainer for ICICI Prudential Life. He is known for his conceptual clarity & instant doubt solving.

TAXATION:VPA pays only service tax as per the government rule 10.3%.

Organization chart VPA

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Founder CA Rakesh Agrawal

Managing Partner-CAVipul Vora

Teaching staff

Non teaching staff

CA Rakesh Agarwal CA Vipul Vora CA Gautam Jain CA Amit Bajaj CA Pooja Hurkat CA Vishal Bhattad CA Atul Hurkat CA Rama Wadki CA Akash Soni CA Rakesh Jogani

Girish Muaja Madhavi Nagdeve Chandrakant

PRODUCT:ABOUT CA:
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CHARTERED ACCOUNTANCY (CA) has very boom scope in the present scenario in the field of commerce. because of the saturation in the field of engineering an in the medical field, students are preferring to go towards some different field of education and therefore they prefer the field of commerce and preparing themself for CA. CA As A Career CAs is highly demanded professionals in industry. They are statutorily recognized Audit professionals. They are sought after experts in the practice of income tax, Service Tax and other indirect Tax areas. CA's are well equipped to perform as management consultants. CA takes 4 years to complete the course. CA is not the degree course and not diploma course. It is the certificate which is provided by ICAI (institute of chartered accountancy of India). The ICAI is situated in Delhi and it has 118 branches all over India. There are several steps to complete the course is as follows Step 1 CA-CPT: - CA-CPT is the entrance exam for the students who want to become CA, which is given by the students after 10 or 12th exams. Step 2 CA-IPCC: - once the student is cleared the first step then he has to register in the ICAI and go for the next examination of IPCC. IPCC has its two groups i.e. IPCC1 and IPCC2. Once students have cleared IPCC1 group then he will be able to start his article ship which is of three year. In which the student has to work under the CA for 3 years add simultaneously he can give the IPCC2 group.

Step 3 CA FINAL: - After completing all above steps then he will be able to give CA[DAIMSR, NAGPUR] Page 12

FINAL exam. Commerce @ VPA

CA @ VPA

CS @ VPA

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COMPETITORS
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There are many coaching classes who deal with same products of VPA but mainly two competitors of VPA in Nagpur which are as follows:Central Academy Of Professional Studies (CAPS) Accountancy Academy

CENTRAL ACADEMY OF PROFESSIONAL STUDIES (CAPS):

Central Academy of Professional Studies (CAPS) is a pioneering name, set up in 1988 as first of its kind institute in Central India by a group of dedicated professionals with a vision to deliver quality professional education, guidance, counseling and training to students. CAPS began its journey by providing education for Charted Accountancy students. In 1992 Central Academy of Professional Studies (CAPS) was formally registered as a society and spread it vision to cater to students pursuing Company Secretary Ship in collaboration with The Institute of Company Secretaries of India, New Delhi. CAPS are providing education to: CA CS Grad.:- B.Com (Computer Application) / BBA

ACCOUNTANCY ACADEMY:[DAIMSR, NAGPUR] Page 15

Accounting Academy, established in the year 1998 by CA Farooq Haque, is the only institute from Vidarbha region to have its branches at major educational hubs like BOMBAY and PUNE for imparting coaching for professional courses like CA, ICWA and CS. It caters to students from Maharashtra, Madhya Pradesh, Chhattisgarh, Bihar, Jharkhand, Gujarat and Rajasthan. Accountancy Academy is providing education to CA CS CWA XI & XII students

CURRENT MARKET POSITION

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Data in percentage (%)

OBJECTIVE OF THE STUDY

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The objectives of the study are as follows: The promotion strategies. Human resources dealing. Communication with customers. Superior subordinate relationship and management. Interviewing the customers. Conducting and organizing seminar Telecounselling To know how to deal with competitors To convince the customer

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S.W.O.T. ANALYSIS OF VPA

S.W.O.T. analyses of VPA are as follows:STRENGTHS: Experienced faculty Well qualified faculty Infrastructure Personal attention towards students Regularly mock test is done

In Nagpur the institute having classes in different places.

The institute having exclusive batch for CBSE commerce students. The institute also having CAs as faculties for 10th and 12th students.

WEAKNESS: VPA have less marketing work force Very small % of students choose CA/CS as a career

The institute is having a very big competitor with it i.e. CAPs academy, and comparatively to it the VPA is very small and not much renowned.

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OPPORTUNITIES: Students now also choose commerce as a career option.

% of students is increasing for CA /CS. In caps academy after doing counseling we come to know that the students are not happy in accounts subjects, the doubts are not cleared in that institute, so this is the very good opportunity for the VPA, because VPA is having best faculty with it for the accounting, CA VIPUL VORA and CA GAUTAM JAIN.

THREATS:

Increase in no. of Competitors.eg CAPS, AA etc.

Very less % of students easily clears the exam of CA/CS.

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MAJOR PROBLEMS:1) As the students and parents are very much interested in the field of higher studies such as engineering and in the medical field, the students not easily converted to the commerce field. The basic thinking of the people is to toward s the science field first.
2)

Students think that CA is very tough course and they will face trouble while doing it.

3) People are not aware much about the CA and its future scope.
4)

Students first choice is science field only not commerce, therefore in getting admissions in the CA field is short. CA is not the degree course and not the diploma course; it is only the certificate which is provided by the ICAI. Therefore the students have to do their degree course simultaneously.

5)

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ACTUAL WORK DONE

We worked in the VPA for 3months. We generally do the counseling to the students and their parents and motivate them to move towards the field of commerce and make them aware about the CA course through the telecalling and home counseling. We generally first ask them about their interest in which field they have their interest and then tries to motivate them towards the commerce field. We used to aware about the future scenario of the CA as compared to the other field. As because of the saturation in the field of the engineering & medical some students also get motivated. We also organized various seminars about the CAs and managed them. We do the promotion, counseling, telecalling, managing students, events management etc..

Different works which i had done in VPA are as follows:-

Counseling Interviewing Event management Promotion Distribution

Tell counseling

Back office

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1. COUNSELING:We got the opportunity to counsel not only the students but also their parents, which made them and our self clear about the thoughts and requirement. We did in-house counseling, tell counseling, personal counseling, which do aimed to enlighten the students about the options available in the market. I helped me to understand:1. 2.

The mentality of the customers. The requirements of the customers.

3. On spots requirements.
4.

The psychology of the customers.

5. The ability to turn the No into YES. 6. To provide them what they want through our product.

2. INTERVIEWING:When Raisoni students came for Summer Internship Project in Vidarbha Professional Academy, we organized the interview of the Raisoni students. It was a great experience to recruit the students for the SIP, which I was myself performing.

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It enlightened me with: How to conduct interview Through this I learned, how to conduct an interview and it will help in my future. How to organize interview Through this I learned how to organize an interview. Experience to search the right person for the right job. This gave me the honor to recruit students, searching the right person for the right job.

3. Event Management:We conducted seminar on 03/04/2011 at IMA hall. In spite of that there was my active participation in management and admistration, as we were lacking manpower. I look upon the backstage.

The guest facilitation and the stage arrangements.

Bridging the gap between the parents and the speaker. To get feedback from both students and their parents. To counsel the parents and the students after the seminar. It fixed my:[DAIMSR, NAGPUR] Page 24

1. Stage fear 2. Lack of management. 3. Hesitation while counseling. Etc

4. PROMOTION:
I was also involved in promotion of VPA. We promoted VPA through different ways: Newspapers. Radios. Hoardings. Banners. Stalls in various events e.g. Edufest, career expo etc. Posts. Mails.

Text messages. Social networking site e.g. Facebook.

This gave me the awareness that there are lots of ways to communicate and make people aware about the product.

5. DISTRIBUTION:There was my active participation in distribution of brochures in the start, and then I started recruiting humans for the distribution purpose. Managing them was a hard nut to crack, but at last with a profit gain I succeeded in doing so. I used to give them brochures so that they became aware about the carrier options available in their lives. From here I learned that there is a lack of awareness in the society

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because of which gathering information and counseling is as important as just collecting.

For CBSE Board (Brochures)

Distribution in Exams centers, schools, collage, and events .It helped me to enhance: Communication. Through this I learned, how to interact with customers, as I had to explain them about VPA and the courses they are providing, so it was a good experience to know how to interact with strangers who could be future customer. Behavior Management. Through this I learned how to behave in front of customers. I had to remain very calm in front of customer even if they are not listening to me, as the behavior impacts a lot, so it will be very beneficial for me in future.

For State Board (Pamphlets)

In State Board of both Class X and XII commerce, I recruited the manpower for the distribution and then supervised my mates who used to supervise the boys. They used to distribute pamphlets to the students in exam center. It helped me to enhance: Relationship with subordinate.

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Through this I learned, how to deal with subordinate, as they were my mates so a lot of things came into picture. Many a times I also managed the boys, I had to negotiate with them and played role as a mediator. . How to supervise the subordinate. My serious eye on the working of my subordinates gave me a senses responsibility. I saw myself in different shades, dealing with different people in different situations. Managing the subordinate. Through this I learned how to control the subordinate as sometime subordinate do not perform the work, so in that case I had to watch out that they are performing well or not, so I was a great learning and it will help in my future.

6. TELLECOUNSELLING:This was a great experience to increase communication skills and to have conversation with strangers on phone. The conversation with students was done for different purposes:

Information giving. (To tell the students about the courses we have and give information about the CA/CS.) Invitation. (To invite them for free seminar, this was conducted on 03/04/2011 at IMA hall.) Counseling. (Providing all the req. information to the student n giving them the best which we can give.) Appointments. (To take appointments for free counseling.) Status check (To know the admission status of students that whether they are taking admission or not.)

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It Added:1. Communication. 2. Maturity level. 3. Future thinking. 4. Thoughts into words.

7.

Back office:I also got the opportunity to work back office, enter the records, manage the daily work, plan, and work on CRM. (Customers Relationship management)

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PROJECT REVIEW
This project basically focuses on the awareness, experience, information, and some predictions. This will enlighten both the students, and the company about their pros and corns. We have tried to put on the necessary points to make the project sufficient to read and understand. During Summer Internship Project @ VPA, I got to know that organizational realities somehow similar to the management theories as we learn during our course.

MANAGEMENT:As we know that the Management is defined as a process of getting things done with the aim of achieving goal effectively and efficiently. Yes it is very true and I got an opportunity to supervise in which I use to get things done through my subordinate and also my superior get things done through me.

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FUNCTIONS OF MANAGER:As we learn the functions of Manager and during my internship @ VPA I used to complete these activities. Planning Organizing Staffing Directing Coordinating Controlling Decision Making

PLANNING:As planning involves a rational and orderly thinking of ways and means with the help of which goals are desired to be achieved. It derives help from past events and anticipates actions for the future. It is a thinking involving decision for future course of action depending upon the aim, which is sought to be achieved through such a decision.

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 During my Internship I was practically involved in Planning as we have to plan for next activity how to do it, how to promote VPA, how to bring boys to distribute pamphlets. Etc.

ORGANIZING:As Organizing is a tool for achieving the objectives in a planned manner. It is a mechanism for purposeful action for the implementation of policies and programs.

During my Internship I was involved in Organizing as it includes putting life into the plan by bringing together personnel, capital, machinery, materials etc.

STAFFING:AS staffing involves filling the positions needed in the organization structure by appointing competent and qualified persons for the job.

During my Internship I was also involve in staffing as I had to bring boys on a daily basis for distributing pamphlets.

DIRECTING:-

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AS Directing involves managing managers, managing workers and the work through the means of motivation, proper leadership, effective communication as well as a coordination.

During my Internship I used to direct my subordinates to perform the work.

COORDINATING:As Coordination is concerned with harmonious and unified action directed toward a common objective, person to person communication is most effective for coordination.

During my Internship I used to coordinate with my colleagues so that common objective could be achieved.

CONTROLLING:As Controlling is the process of measuring actual results with some standards of performance, finding the reason for deviations of actual from desired result and taking corrective actions when necessary.

During my Internship I used to check out the performances of my subordinates that they are performing as desired, to look those subordinates are working efficiently and to know the problem which they are facing during work and short out them.
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DECISION MAKING:Decision implies that there are various alternatives and the most desirable alternatives are chosen to solve the problem or to arrive at expected results. During the Internship I was also involve in decision making as we had took decision according to the situation

CONCLUSION

The aim of the project was to create awareness among the students about the future scenario of the CA as there is saturation in the field of higher degrees. Let the students know about different field in education.CA is one of the best option available. By doing this we came to know about the different views of the people and their thinking about the same.

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SUGGESTIONS
1.

VPA should modify its infrastructure and students admitting capacity.

2. There should not be any money restriction policy as some of parents are not able to pay at the time of admission.
3.

As the tuition goes for 5 to 6 hours, there must be sufficient break time in between tuition hours so that the students can refresh themselves for further class. Price of accounting package in VPA for CBSE students is very high, it should be reduce up to some extent so that the Parents can afford and more can VPA get.

4.

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BIBLIOGRAPHY:

http://www.capseducation.org/index.html

http://www.hotfrog.in/Companies/Accounting-Academy

http://www.accountingacademy.net

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