Shipping Intern Report
Shipping Intern Report
Shipping Intern Report
BACHELOR OF COMMERCE
by
NAVANEETH AAKASH.L
600 059
APRIL 2021
Z00
0
DECLARATION
Place: Chennai
( NAVANEETH AAKASH L)
ACKNOWLEDGEMENT
I first and foremost wish to express my profound thanks to our honorable Principal
DR. P WILSON for providing me an opportunity to study in this
distinguished institute.
I then wish to extend my sincere thanks to the respectable Head of the Department
DR. NIRMALA MOHAN as her constant encouragement proved a source of
unparalleled inspiration.
I express deep gratitude to my internship advisor MRS. SHINY ISAAC for the
proper guidance and constant support to carry out this internship report. Her
guidance helped me to overcome all the hurdles. Without her support and help this
work could not have been completed.
Above all, I thank God Almighty for showering upon me His grace and blessings.
( NAVANEETH AAKASH L )
TABLE OF CONTENTS
1 CHAPTER I
History of Finance 6
2 CHAPTER I
History of Company 30
3 CHAPTER III
Learning Experience 42
4 CHAPTER IV
Consolidation of Reports 45
5 CHAPTER V
Conclusion 49
6. BIBILIOGRAPHY 51
CERTIFICATE
Place: Chennai
SIGNATURE OF INTERNSHIP
ADVISOR
Place: Chennai
SIGNATURE OF EXTERNAL
EXAMINER
CHAPTER I
INTRODUCTION
Meaning
FINANCE is the function in a business responsible for acquiring funds for the firm,
managing funds within the firm, and planning for the expenditure of funds on various
assets. Finance is defined as the management of money and includes activities like
investing, borrowing, lending, budgeting, saving, and forecasting. It represents money
management and the process of acquiring needed funds. Finance also encompasses the
oversight, creation, and study of money, banking, credit, investments, assets, and liabilities
that make up financial systems. It is giving its requirements for managing wealth and
investing money. It is not just about shifting of money. But it is more about the
management or control of money i.e. how well are we managing the funds. Because our
main motive is to develop the business with a limited expense possible
Many of the basic concepts in finance originate from micro and macroeconomic theories.
One of the most fundamental theories is the time value of money, which essentially states
that a rupee today is worth more than a rupee in the future.
Financial system
A financial system is a set of institutions, such as banks, insurance companies, and stock
exchanges, that permit the exchange of funds. Financial systems exist on firm, regional, and
global levels. Borrowers, lenders, and investors exchange current funds to finance projects,
either for consumption or productive investments, and to pursue a return on their financial
assets. The financial system also includes sets of rules and practices that borrowers and
lenders use to decide which projects get financed, who finances projects, and terms of
financial deals. Financial markets involve borrowers, lenders, and investors negotiating
loans and other transactions. In these markets, the economic good traded on both sides is
usually some form of money: current money (cash), claims on future money (credit), or
claims on the future income potential or value of real assets (equity). These also include
derivative instruments.
In a centrally planned financial system (e.g., a single firm or a command economy), the
financing of consumption and investment plans is not decided by counterparties in a
transaction but directly by a manager or central planner. Which projects receive funds,
whose
projects receive funds, and
who funds them is determined by the planner, whether that means a business manager or a party
boss.
Most financial systems contain elements of both give-and-take markets and top-down
central planning. For example, a business firm is a centrally planned financial system with
respect to its internal financial decisions; however, it typically operates within a broader
market interacting with external lenders and investors to carry out its long term plans.
At the same time, all modern financial markets operate within some kind of government
regulatory framework that sets limits on what types of transactions are allowed. Financial
systems are often strictly regulated because they directly influence decisions over real
assets, economic performance, and consumer protection.
The financial system and its efficiency dictate the success of the nation in terms of
economic growth. The larger, the proportion of financial assets to real assets, the greater the
scope of economic growth1 . Investments which are considered as the core of financial
structure are a pre- condition of economic growth. This apart, to sustain growth, continued
investment in the growth process is essential. As finance is an important input in the growth
process, it has a crucial role to play in the development off economy. The increasing rate of
saving is correlated with the increase in the proportion of savings held in the form of
financial assets relative to tangible assets. The word "system", in the term "financial
system", implies a set of complex and closely connected or interlined institutions, agents,
practices, markets, transactions, claims, and liabilities in the economy. The financial system
is concerned about money, credit and finance-the three terms are intimately related yet are
somewhat different from each other.
Indian financial system consists of financial market, financial instruments and financial
intermediation. In simple terms, financial system is the set of inter-related
activities/services working together to achieve some predetermined purpose or goal. It
includes different markets, the institutions, instruments, services and mechanisms which
include the generation of savings, investment capital formation and growth.
Van Horne defined the financial system as the purpose of financial markets to allocate
savings efficiently in an economy to ultimate users either for investment in real assets or for
consumption. Christy has opined that the objective of the financial system is to “ supply
funds to various sectors to activities of the economy in ways that promote the fullest
possible utilization of resources, the destabilizing consequence of price level changes or
unnecessary interference with individual desires. According to Robinson, the primary
function of the system is “to provide a link between savings and investment for the creation
of new wealth and to permit portfolio adjustment in the composition of the existing wealth.
Financial system provides services that are essential in a modern economy. The use of a
stable, widely accepted medium of exchange reduces the costs of transactions. It facilitates
trade and therefore, specialization in production. Financial assets with attractive yield,
liquidity and risk characteristics encourage savings in finical form. By evaluating
alternative investments and monitoring the activities of borrowers, financial intermediaries
increase the efficiency of resource use. Access to variety of financial instruments enables
an economic agent to pool, price and exchange risks in the markets. Trade, the efficient use
of resources, saving and risk taking are the cornerstones of a growing economy. In fact, the
country could make this feasible with the active support of the financial system. Seekers of
Funds (Mainly business firms and government) Suppliers of funds (Mainly households).
The financial system has been identified as the most catalyzing agent for growth of the
economy, making it one of the key inputs of development.
The financial sector plays a critical role in the function of the economy. It allows more
efficient transfer of resources from savers to investors as well as facilitates the use of funds
by households, businesses, traders and governments. In fact, an efficient financial sector
spurs economic growth. The Indian financial system comprises of an impressive network of
banks, other financial and investment institutions, offering wide range of products and
services, which together function in fairly developed capital and money markets.
As such, financial system has come to occupy an important role in the process of economic
development. The economic development of a country depends, inter alias, on its financial
structure. In the long run, the larger the proportion of financial assets to real assets, the
greater the scope for economic growth.
A sound and efficient financial system can contribute to economic growth and development
in a number of ways which include by providing a spectrum of financial assets to meet
diverse preferences of household and thus, enabling them to choose their asset portfolios to
achieve a preferred mix of return, liquidity and risk. Further, it helps to raise productivity of
capital through efficient allocation. Conditions that support the development of a more
robust and balanced financial structure with improve the ability of domestic financial
systems to contribute to their growth
Types of Finance
Since individuals, businesses, and government entities all need funding to operate, the
finance field includes three main sub-categories: personal finance, corporate finance, and
public (government) finance.
1. Personal Finance
Personal Finance is managing the finance or funds of an individual and helping them
achieve the desired goals in terms of savings and investments. Personal Finance is specific
to individuals and the strategies depend on the individuals earning potential, requirements,
goals, time frame, etc. Personal finance includes investment in education, assets like real
estate, cars, life insurance policies, medical and other insurance, saving and expense
management.
2. Corporate Finance
Corporate Finance is about funding the company expenses and building the capital
structure of the company. It deals with the source of funds and the channelization of those
funds like the allocation of funds for resources and increasing the value of the company by
improving the financial position. Corporate finance focuses on maintaining a balance
between the risk and opportunities and increasing the asset value.
3. Public Finance
This type of finance is related to states, municipalities, provinces in short government
required finances. It includes long term investment decisions related to public entities.
Public finance takes factors like distribution of income, resource allocation, economic
stability in consideration. Funds are obtained majorly from taxes, borrowing from banks or
insurance companies.
There are several other types of financing different than the 3 main types of financing
which are discussed above. They are as follows:
4. Microfinance
Microfinance is also known as microcredit. This type of finance is specifically designed for
individuals who do not have easy access to financial services. These individuals include
unemployed and lower-income group individuals. Banks may even offer additional services
like
saving accounts, microinsurance, and trainings. The main motive behind providing
microfinance is to provide an opportunity for these individuals to become self-
reliant. Lenders often grant loans after pooling borrowers to ensure better repayment
probability. The repayment amount on such microloans is higher than that of conventional
financing due to the risk involved. Microfinance includes:
● Lessons on financial terms and concepts like interest rate, cash flow, budget,
debt, etc.
5. Trade Finance
Trade Finance includes financial services and instruments that enable and facilitate trade
internationally. Trade finance is ideal for importers and exporters to carry on smooth
international transactions by reducing risk in global trade. Trade finance can help reduce
the risk associated with global trade by reconciling the divergent needs of an
exporter and importer. Unlike conventional finance, trade finance is used to protect the two
parties from the various risks involved in international trade and does not mean that the
parties lack funds or liquidity. The risks involved in international trade are currency
fluctuations, non- payment by the party, political instability, creditworthiness of parties etc.,
Trade finance involves a third party for conducting a transaction thus eliminating the risk of
supply and payment Apart from protecting against the risks, non-payment, and non-receipt
of goods, trade finance also improves the efficiency and revenue. It enables the company to
receive a cash payment based on the accounts receivables as the buyer’s bank guarantees
payment. This also ensures timely payments and assured shipment of goods. The different
parties involved in trade finance are importer, exporter, banks, insurers, credit agencies,
trade finance companies. . In trade finance, the exporter is provided with the payment as per
the agreement and the importer can avail of a credit facility to fulfill the trade orders.
6. Behavioral finance
Behavioral finance, with its roots in the psychological study of human decision-making, is a
relatively new and evolving subject in the field of finance. In brief, behavioral finance is the
study of investors’ psychology while making investment decisions. Being a relatively new
subject, not much prodigious research literature is available in this subject.
However, some research studies have revealed that psychological biases such as emotions,
fear, over- confidence, greed, and risk aversion influence investors’ behavior that, in turn,
influences stock markets. As such, there is a need for studying and understanding
behavioral finance to exploit investors’ psychology for profits.
7. Social finance
Social finance is a field that helps dispel the idea that capitalist aims and social progress are
incompatible. For individuals interested in pursuing an education in the financial sector that
also benefits human communities or the environment, this unique application of economic
knowledge and investment acumen is ideal. Many groups and companies seek to make a
positive social or environmental impact. This can include businesses that donate a portion
of profits to designated charities, but these companies are usually not directly involved in
social finance because the business itself is not focused on social impact. These companies
still seek to maximize profits, often at the expense of human or ecological factors.
7. Non-Profit
Non- Profits do not have stockholders and they do not require to create any kind of earnings
or economic benefit. But they still require the same varieties of financial management as
other for- profit companies.
Finance is required for the establishment of every business organization. With the growth
in activities, financial needs also grow. Funds are required for the purchase of land and
building, machinery and other fixed assets. Besides this, money is also needed to meet day-
today expenses
e.g. purchase of raw material, payment of wages and salaries, electricity bills, telephone
bills etc. You are aware that production continues in anticipation of demand. Expenses
continue to be incurred until the goods are sold and money is recovered. Money is required
to bridge the time gap between production and sales.
It may be necessary to change the office set up in order to install computers. Renovation of
facilities can be taken up only when adequate funds are available. Funds are always
required to meet the ups and downs of business and unforeseen problems. Suppose, some
manufacturer anticipates shortage of raw materials after a period obviously he would like to
stock raw materials. But he will be able to do so only when money would be available.
In this era of competition, lot of money is required to be spent on activities for promoting
sales like advertisement, personal selling, home delivery of goods etc. Funds are also
required to avail of business opportunities. Suppose a company wants to submit a tender but
some minimum amount is required to be deposited along with the application. In the case of
non- availability of funds it would not be possible for the company to apply.
Finances are about more than money in your hand. While most businesses have some
amount of debt – especially in the beginning stages – too much debt compared with
revenues and assets can leave your with more problems than making your loan payments.
Vendors and suppliers often run credit checks and may limit what you can buy on credit or
keep tight payment terms. Debt ratios can affect your ability to attract investors including
venture capital firms and to acquire or lease commercial space. No matter how well your
business is doing, you have to prepare for rainy
days and even storms. That's why smart businesses create financial plans for downturns.
Cash savings, good credit, smart investments, and favorable supply and real estate
arrangements can help a business stay afloat or even maintain momentum when the
business climate is unfavorable.
Every company needs to be able to pay their employees. Even the most dedicated
staff won't stick around long once the paychecks stop. The larger an organization gets, the
larger the labor costs. Employees need to receive compensation for their job without which
they will not work efficiently. Employee satisfaction is a key to higher productivity.
Therefore, any business needs to have enough cash in hand to be able to meet this
requirement
In the modern age, marketing is an important function of business, the reason being the area
of marketing has become quite wide and that has necessitated various activities, like –
advertising and publicity, sales promotion, marketing mix, selection of marketing
intermediaries, distribution of goods, transportation, warehousing and marketing research,
etc.
A profit and loss statement is relevant to business finance because it shows whether
your company can reasonably handle new expenses, such as investments in equipment or
property. However, just because your business shows a net profit on its income statement
doesn't mean you'll have the cash you need to pay off loans or buy new equipment. Some
outgoing expenditures, such as payments on loan principal, use up available cash without
appearing on your profit and loss as expenses. Despite these discrepancies, if your income
statement shows a trend toward profitability over time, you'll have greater potential for
successfully paying off debt than if your income statement shows that your company has
consistently lost money.
Financing for working capital is easier to obtain than financing for major purchases
and investments. Many banks offer unsecured credit cards and business credit lines. You
can
use these options to cover business expenses without staking personal collateral or filling
out long loan applications requiring extensive documentation. However, interest rates for
unsecured financing
options tend to be considerably higher than for business-lending products that are harder to
obtain, such as secured term loans.
Financial Instruments
⮚ Cash Instruments
⮚ Derivative Instruments
● The value of Derivative Instruments is derived from the valuation of another entity
which can be an asset, or an index, or any other factor that can influence the value
of
the
derivatives. The different types of derivative instruments available in the market are
futures, forwards, swaps, and options.
Financial instruments are also classified based on their asset class. Financial instruments
can be debt-based or equity-based.
⮚ A debt-based instrument is in the form of loans that the issuing party avails from
the investors. Debt-based financial instruments include bonds, bond futures and
options, Interest rate swaps, Treasury bills, Interest rate futures and forward rate
agreements
⮚ Another type of asset class is the Forex Instruments which includes forex futures,
forex options, currency swaps and more.
Finance consists of a wide range of activities. Some of the terms associated with finance
and financial activities are as follows:
Finance companies have experienced sustained growth throughout the 1990s. By the end
of the decade, finance companies had become America's second largest source of business
credit, behind banking institutions. Larger commercial finance companies often offer small
business owners a variety of lending options from which to choose. These include
factoring, working capital loans, equipment financing and leasing, working capital loans,
specialized equity investments, collateral- based financing, and cash-flow financing. Some
also offer additional services in connection with those loans, such as assistance with
collections.
Commercial finance companies come in all shapes and sizes. The size of the firm
usually has some bearing on the exact services it offers. The nation's largest finance firms
(The Money Store, AT&T Small Business Lending Corp.) have established networks of
offices across the country, and they sometimes offer lending services that even banks do
not. For example, The Money Store—which made more than 1,700 loans worth $635
million in fiscal year 1996—offers loans to entrepreneurs looking to take ownership of a
franchise, an option that is not available at all banks. But as Entrepreneur's Cynthia Griffin
noted, "in addition to the mega players, the commercial finance industry is populated by
hundreds of smaller firms." These firms generally make asset-based loans, providing
services to small business owners who are unable to secure loans from their banks.
Financial Management
One of the critical limitations of financial management is the rigidity it ensures within
enterprises. The standards of operation are fixed by incorporating particular accounting
parameters; however, when the tasks are done, the conditions may change from the original
situation. The rules are not able to keep up with the dynamic changes in the market
environment, and that leads to bureaucracy and lost revenue.
Similarly, implementing standards of practice within a business or an institute comes
with a cost. It requires both hardware and software installation and orientation for the entire
staff so they can adjust to the new system seamlessly.
1. Profit maximization
Main aim of any kind of economic activity is earning profit. A business concern is also
functioning mainly for the purpose of earning profit. Profit is the measuring techniques to
understand the business efficiency of the concern.
The finance manager tries to earn maximum profits for the company in the short-term and
the long- term. He cannot guarantee profits in the long term because of business
uncertainties.
2. Wealth maximization
4. Proper mobilization
Collection of finance is an important objective of financial management. After estimating
the financial requirements, the finance manager must decide about the sources of finance.
He can collect finance from many sources such as shares, debentures, bank loans, etc.
There must be a proper balance between owned finance and borrowed finance. The
company must borrow money at a low rate of interest. He must also keep in mind various
other factors such as risk involved before selecting a source of funds.
Survival is the most important objective of financial management. The company must
survive in this competitive business world. It is essential that the decisions taken are
progressive and help in sustaining the business through the ups and downs of business.
8. Creating reserves
One of the objectives of financial management is to create reserves. The company must not
distribute the full profit as a dividend to the shareholders. It must keep a part of it profit as
reserves.
Reserves can be used for future growth and expansion. It can also be used to face
contingencies in the future.
9. Proper coordination
Financial management must try to have proper coordination between the finance
department and other departments of the company.
Financial management must try to create goodwill for the company. It must improve the
image and reputation of the company. Goodwill helps the company to survive in the short-
term and succeed in the long-term. It also helps the company during bad times.
Financial management also tries to create a financial discipline. Financial discipline means:
● To invest finance only in productive areas. This will bring high returns (profits) to
the company.
● To avoid wastage and misuse of finance.
Financial management tries to reduce the cost of capital. That is, it tries to borrow money at
a low rate of interest. The finance manager must plan the capital structure in such a way that
the cost of capital it minimized.
Financial management also tries to reduce the operating risks. There are many risks and
uncertainties in a business. The finance manager must take steps to reduce these risks. He
must avoid high-risk projects. He must also take proper insurance.
1. Accounts Payable
Accounts payable represents your small business’s obligations to pay debts owed to
lenders, suppliers, and creditors. Sometimes referred to as A/P or AP for short, accounts
payable can be short or long term depending upon the type of credit provided to the
business by the lender.
2. Accounts Receivable
Also known as A/R (or AR, good guess), accounts receivables is another business finance
101 term that means the money owed to your small business by others for goods or services
rendered. These accounts are labeled as assets because they represent a legal obligation for
the customer to pay you cash for their short-term debt.
3. Accrual Basis
The accrual basis of accounting is an accounting method of recording income when it’s
actually earned and expenses when they actually occur. Accrual basis accounting is the
most common approach used by larger businesses to record and maintain financial
transactions.
4. Accruals
A business finance term and definition referring to expenses that have been incurred but
haven’t yet been recorded in the business books. Wages and payroll taxes are common
examples.
5. Asset
This business finance key term is anything that has value—whether tangible or intangible—
and is owned by the business is considered an asset. Typical items listed as business assets
are cash on hand, accounts receivable, buildings, equipment, inventory, and anything else
that can be turned into cash.
6. Balance Sheet
Along with three other reports relating to the financial health of your small business, the
balance sheet is essential information that gives a “snapshot” of the company’s net worth at
any given time. The report is a summary of the business assets and liabilities.
7. Bookkeeping
A method of accounting that involves the timely recording of all financial transactions for
the business.
8. Capital
Refers to the overall wealth of a business as demonstrated by its cash accounts, assets, and
investments. Often called “fixed capital,” it refers to the long-term worth of the business.
Capital can be tangible, like durable goods, buildings, and equipment, or intangible such as
intellectual property.
9. Working Capital
Not to be confused with fixed capital, working capital is another business finance 101 term.
It consists of the financial resources necessary for maintaining the day-to-day operation of
the business. Working capital, by definition, is the business’s cash on hand or instruments
that you can convert to cash quickly.
Future business decisions will depend on your educated cash flow projections. To plan ahead
for upcoming expenditures and working capital, you need to depend on previous cash flow
patterns. These patterns will give you a comprehensive look at how and when you receive
and spend your cash. This info is the key to unlock informed, accurate cash flow
projections.
12. Depreciation
The value of any asset can be said to depreciate when it loses some of that value in
increments over time. Depreciation occurs due to wear and tear. Various methods of
depreciation are used by businesses to decrease the recorded value of assets.
A tangible, long-term asset used for the business and not expected to be sold or otherwise
converted into cash during the current or upcoming fiscal year is called a fixed asset. Fixed
assets are items like furniture, computer equipment, equipment, and real estate.
This business finance term and definition can be calculated as total sales (income) less the
costs (expenses) directly related to those sales. Raw materials, manufacturing expenses,
labor costs, marketing, and transportation of goods are all included in expenses.
15.Income Statement
Here is one of the four most important reports lenders and investors want to see when
evaluating the viability of your small business. It is also called a profit and loss statement,
and it addresses the business’s bottom line, reporting how much the business has earned
and spent over a given period of time. The result will be either a net gain or a net loss.
A business asset that is non-physical is considered intangible. These assets can be items
like patents, goodwill, and intellectual property.
16. Liability
This business finance key term is a legal obligation to repay or otherwise settle a debt.
Liabilities are considered either current (payable within one year or less) or long-term
(payable after one year) and are listed on a business’s balance sheet. A business’s accounts
payable, wages, taxes, and accrued expenses are all considered liabilities.
17. Liquidity
Liquidity is an indicator of how quickly an asset can be turned into cash for full market
value. The more liquid your assets, the more financial flexibility you have..
One of the important documents required by lenders and investors that shows a summary of
the actual collection of revenue and payment of expenses for your business. The statement
of cash flow should reflect activity in the areas of operating, investing, and financing and
should be an integral part of your financial statement package.
TER II
HIST
O RY
OF
CARG
CONS
OL
INDIA
PVT
LTD
Headquartered in Chennai, CCL is a reliable and leading NVOCC provider with 3 own offices and 22
associate offices covering all major coastal gateways and inland presence at key ICD locations. A strong
and capable team is proactively available for clients throughout the country.
CCL offers direct consolidation services in and out of most major ports in India. With ICDs well linked to
gateway ports, CCL is able to provide a seamless inland distribution and carriage of cargo from the
hinterlands to the gateway port. Singapore, Port Klang, Colombo, Hong Kong, Busan and Dubai are also
utilized as transshipment hubs for India.
In addition, CCL is able to offer FCL carriage to clients across the world and special rates for African and
European sectors. CCL comprehensive approach to LCL management ensures reliable and rapid shipment
of goods — worldwide. Our philosophy is to run the product in-house so that we control the cargo flow,
transit times, costs and information accuracy
Though the plan may sound ambitious at the outset, with the appointment of dynamic leadership in each
location, Each office will serve the needs of other offices, partners and customers. In doing so, our offices
will continue to achieve sustainable growth in a remarkable way.
Vision
To take utmost Caring of your valuable Cargo with Logic in logistics.
Mission
Providing innovative ways to serve you and handle all of your freight needs.
Services
Ship
Advantages for our customers
As a Non Vessel Operating Common Carrier, CCL is rated among the top customers of almost all leading
shipping lines operating in the region. This reputation has ensured us competitive rates & space with
major liners for consolidated shipments on a regular basis.
CCL focused on customer’s business objectives. Our network provides you with:
It is a formal black tie ceremony that is graced by the who’s who of the cargo industry.Honoring all the
stalwarts from different regions, the second edition of the India Cargo Awards was held in October 13,
2016 at the HYATT REGENCY, GURGAON.
At the awards in GURGAON, the ceremony was graced by Mr. Sandeep Singh , Director of DDP
publications Pvt Ltd & Mrs. India 2016, along with leaders of the cargo industry.
CARGO CONSOL INDIA PVT LTD, Mr.C. Nagaraj, Managing Director, received the “FASTEST HUB
DEVELOPER OUTSIDE OF INDIA” award, The award was given by Dr. RENU SINGH PARMAR,
economic adviser, Ministry of Civil Aviation and the Title winner certificate given by Mr. Vineeth
Pandey, Chief General Manager of Indian Post , Government of India.
CARGO CONSOL INDIA PVT LTD known as CCL, offers export and import consolidation in a larger
scale mode , specialized in DG handling, air cargo operations, special equipments and freight forwarding.
CCL has been consistent on its own proliferation to an extensive level on yearly basis, speaking on the
occasion, Mr. Nagaraj , MD, thanked all of their employees and customers and well wishers for their
wonderful achievement.
It’s very glad and privilege to achieve this award, since CCL is the prime company has introduced
Colombo as a HUB for consolidation rather than using Singapore & Port Kalng , which was the
innovative thinking and initiative on the consolidation industry of so many years of journey, This pioneer
strategy of CCL created a mile stone in the industry which is remarkable to mentioned and leads to
continue to growth and vast developments in a short span of time.
India Cargo Awards supports, promotes and develops the Indian cargo and logistics industry by
identifying and rewarding excellence, and inspiring its practitioners to continuously raise the
standards of their
products, and service offerings.
These awards are also braced by esteemed trade bodies like Air Cargo Agents Association of India
(ACAAI), Domestic Air Cargo Agents Association of India (DACAAI), Express Industry Council in
India (EICI), Federation of Indian Export Organisations (FIEO) and Federation of Freight Forwarders’
Association in India (FFFAI).
India Cargo Awards runs and governs a comprehensive programme across a range of awards developed to
recognise the industry’s most vital sectors and product offerings. Awards are presented across four
regions: South & East and West & North.
Name Department
Name Department
Mr. Executive
Saravanan
CHAPTER III LEARNING
PROCESS
Introduction:
The intern, in Cargo Consol India Pvt Ltd was introduced to the Accounts and Finance
Department. The various sections of the department were introduced and the functioning
process of each section was explained to briefly educate the intern about the accounts and
finance in Cargo Consol India pvt Ltd. Among the Different accounts and finance sections,
the intern was placed in the finance and logistics section. In this section the intern learnt
about the financing of other different sections being generated through the finance and
logistics section. All the payments were made from this department based on the available
funds in the Cargo Consol India Pvt Ltd Accounts.
Week 1
The intern was placed for training in the accounts and finance sction of the finance
department in Cargo Consol India Pvt Ltd. Brief introduction about the functioning of the
section was given. The intern was taught . Later in the week the intern was made to observe
things around and have an idea of whats going inside the firm . Also the import was sent to
the import section to assist the manager who manages the imoorted goods and the intern was
asked to have a file and record of what all things had been imported and was told about the
bills of exchange procedures
Week 2
The intern was given an idea about bank advice copy and letter of credit, also
assist the manager who deals with it. The intern was given a small amount of idea
about export and ask the intern itself to research about export and come back to
office
Week 3
The intern was asked to collect all the datas of imports for all the days and
inputed in a excel sheet and have a consolidated data and upload it in a tally. This
was repeated every day of the week
Chapter IV
Consolidation of
Reports
FORM 2
ID: 1801721036055
Data enties and tally. Bank Advice copy, data entries of import and export, functioning of
import and export procedures, letter of copy and bills of exchange
In what ways did your B.Com program prepare you for this work experience?
The intern was theoretically equipped by the BCom program, to practice and apply
the concepts practically. Various Accounting concepts, acquired during the B.Com
program,
were made use to complete the given tasks and learning assignments during the
internship program.
The intern was exposed to the company’s work culture and was equipped with skills like
communication with co-workers, section staff and all higher level authorities; quick
process- learning capacity to grasp the modalities of the section; representation of the
section in various platforms among the department, responsive learning from section heads
and cooperation with co- workers. The staff in the section helped the intern to learn the
various technical process about data entry, tally, bank advice copy, letter of copy, bills of
exchange involved in the functioning of accounts and finance section in the finance
department.
What did you enjoy most about the internship (from both the personal and
professional perspectives)?
The intern enjoyed the friendly atmosphere in the department and was also given
ample space and opportunities to explore and learn from different individuals. The
intern had the privilege to observe and practice new accounting concepts.
What did you find most difficult about the experience (from both the personal and
professional perspectives)?
The intern found it difficult to learn many vast concepts in a very short span of time.
Few theoretical concepts learnt by the intern in their B.Com program were not
sufficient enough to equip the financial functioning of the department.
Would you pursue a permanent position with this firm? Why
The intern would love to have a permanent position in the firm because of the
legacy, friendly atmosphere and such optimist work space.
Overall, the intern was fully trained and furnished with sound financial knowledge about
bank advice copy, data entries of import export journal, functioning of import exports
procedures,letter of copy and bills of exchange.
Signatures:
CONCLUSI
ON
The intern was exposed to the company’s work culture and was equipped with skills like
communication with co-workers, section staff and all higher level authorities; quick process-
learning capacity to grasp the modalities of the section; representation of the section in various
platforms among the department, responsive learning from section heads and cooperation with
co- workers. The staff in the section helped the intern to learn the various technical process of
data entries, tally,journals functioning of company involved in the functioning of accounts and
finance section in the finance department. The intern was fully trained and furnished with
sound financial knowledge about bank advice copy, data entries of import export journal,
functioning of imports and exports procedures, letter of copy and bills of exchange.
BIBILIOGRAPHY
1.Definition of Finance
https://corporatefinanceinstitute.com/resources/knowledge/finance/what-is-finance-
definition/
https://www.investopedia.com/terms/f/finance.asp
1. History of Finance
https://www.investopedia.com/ask/answers/what-is-
finance/
https://history-of-finance.org/
2. History of Finance
https://www.palgrave.com/gp/blogs/business-economics-finance-
management/exploring- economic-history/history-of-finance
https://startupaplan.com/what-is-financial-management/
https://www.encyclopedia.com/finance/finance-and-accounting-
magazines/finance- historical-perspectives
3. Air India
History
http://www.airin
dia.in/
https://en.wikipedia.org/wiki/Air_India
4. Financial Terms
https://www.fundera.com/blog/business-finance-terms-and-definitions