A COMPREHENSIVE STUDY OF FINANCIAL TRENDS

A Summer Training Project Report

Submitted in partial fulfillment of the requirements for the
Award of degree of MBA

2022-2024

Submitted by – Guided by –
ADITYA BANSAL MRS. VEENU GUPTA
(INTERNAL GUIDE)
MBA
0221MBA178
 CERTIFICATE OF ORIGINALITY STUDENT

This is to certify that the project report entitled Summer training project (Assistree)
submitted to Bharati Vidyapeeth Deemed University, Pune, in partial fulfilment of
the requirement for the award of the degree of MBA, is an original work carried
out by me under the guidance of Mrs. Veenu Gupta, the matter embodied in this
project is a genuine work done by me has been submitted neither to this University nor to
any other University for the fulfilment of the requirement of the course of study.

Mr. Aditya Bansal

1
2
 Bharati Vidyapeeth (To Be Deemed) University, Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)
Ref: Date:

CERTIFICATE OF ORIGINALITY
FACULTY

This is to certify that the Summer Training Project Report Titled “A Comprehensive
study on” Assistree” Submitted to Bharati Vidyapeeth Deemed University Institute of
Management &Research, New Delhi in partial fulfillment of the requirement for the
award of the MBA is an original work carried out by “Mr. Aditya Bansal” under the
guidance of “Mrs. Veenu Gupta”. To the best of Project guide’s knowledge and belief
the matter embodied in this project is genuine work done by the student and has been
submitted neither to this University nor to any other University for the fulfillment of the
requirement of the course of study.

Mrs. Veenu Gupta

3
 Bharati Vidyapeeth (To Be Deemed) University, Institute of Management &
Research, New Delhi
An ISO 9001:2008 14001:2004 Certified Institute
A-4, Paschim Vihar, New Delhi – 110063 (Ph.: 011-25284396, 25285808 Fax: 011-25286442)
Ref: Date:

CERTIFICATE

This is to certify that the Project titled “A COMPREHENSIVE STUDY ON

FINANCIAL TRENDS ACCOUNTING ON ASSISTREE” is an academic work done
by “Aditya Bansal” submitted in partial fulfillment of the requirement, for the award of
the Degree of Course, from Bharati Vidyapeeth Deemed University, Pune. It has been
completed under the guidance of Mrs. Veenu Gupta (Faculty Guide) and Mr. Prince
Sharma (Company’s Mentor). We are thankful to ASSISTREE for having allowed our
student to undergo project work training. The authenticity of the project work will be
examined by the viva-voce examiner, which includes data verification, checking
duplicity of information etc., and it may be rejected due to nonfulfillment of quality
standards set by the Institute.

Dr. Yamini Aggarwal

Director

4
 ACKNOWLEDGEMENT

I would like to express my special thank of gratitude to my faculty Mrs. Veenu Gupta as
well as to our director Dr. Yamini Aggarwal who gave me the golden opportunity to do this
wonderful project of Summer Internship. I would also like to thank Mr. Prince Sharma for
allowing me to work in their organization as an intern. Because of this project, I came to
know about some detailed information about the corporate world. At last, I would also like to
thank my parents and friends who helped me in motivating myself and finalizing this project
within the limited time frame.

ADITYA BANSAL
MBA 3
0221MBA178

5
Chapter Particulars Page No.

1. INTRODUCTION

2. RESEARCH METHODOLOGY

3. CONCEPTUAL DISCUSSION

4. DATA ANALYSIS AND INTERPRETATION

5. CONTRIBUTION TO THE BODY

6. SUGGESTIONS AND CONCLUSION

7. SUMMARY OF THE PROJECT-

APPENDIX
BIBLIOGRAPHY AND REFERENCES

Introduction

6
Internshi p
program is an
excellent way for
students to
develop their
skills and learn how to apply what they have learnt in the real world. Students
in this program learn about and practice solving real-world business problems
over a six-week training term. Finding out more about the Account
Management Department and its main duties is the report's main objective.
Moreover, the practice path was indicated.
Help with the accounting policy I tried my best to look into and evaluate
realistic solutions.
Accounting applications and real-world situations Lastly, I come up with a brief
scenario for the circumstance. This report was written following an internship in
the finance department with Assistant.
This chapter covers a variety of internship-related topics, including the
organization's profile, scope, and other varied tasks carried out within the
company.
Changes in market, industry, or economic conditions are frequently associated
with financial trends. The emergence of virtual currencies, the growing
significance of ESG (Environmental, Social, Governance) investing, and the
continuous influence of technology on financial services are a few contemporary
financial trends. Individuals and companies can make better financial decisions
by keeping up with these developments.

7
1.2 The Internship's Goals

A. Acquire an early understanding and respect of the real-world difficulties

involved in putting academic knowledge to use in real-world contexts.
B. Develop a strong sense of self and internationalize the skills and information
needed for the job.
C. Develop and strengthen critical skills for perceptively monitoring and
evaluating issues encountered when carrying out activities and responsibilities.
D. With an emphasis on accounting services in various management, the finance
industry, non-governmental organizations, consciousness, and other contexts,
students learn more about the financial aspects of an organization's operation on
domestic and international markets.
E. Finance management and accounting courses teach students how to perform
certain tasks as well as develop their research and problem-solving abilities.
1.3 The Internship's Scope
1.3.1 Range of Content
The purpose of this internship was to provide students with the fundamental
knowledge and abilities in the field of accounting. Additionally, the intern was
required to promote the organization's activities and respond quickly to market
demands. This gives the student the opportunity to learn from replies in different
departments and directorates within the company.
1.3.2 Scope of Duration
The intern intended to make the most of his time by putting theory into practice
and honing accounting principles through the preparation of financial statements
and reports, client briefings, and financial record comparisons. These were
finished in that time frame as a result.
1.4 Overview of the Organization
The functional domains of the organization are as follows:
1.4.01 Human Resource Department - The Human Resource Department is
in charge of hiring, maintaining, educating, disciplining, superannuating, and
terminating workers.
1.4.2 Audit Department: Audit committees from the auditing process visit
the customer's location at the end of the fiscal year to confirm the various
accounts and balances. The following is a list of the services the chief of the
companies' annual reports provides. Ensures that procedures are followed,
inquiries are made, and business policies are followed, as well as that
everything is implemented correctly.

A) Assurance - The role of auditor independence in a company's seamless

operation has developed beyond only fulfilling legal requirements. Regarding
legal requirements, we offer appropriate and thorough support, making it

8
simple for our clients to evaluate matters that call for urgent action and
helping them to regularly form opinions.
Key components of risk management include:
Enhancements in Assessment Decision Income Statement Audits
Conservation Accounting.
ii) Detailed External Controls & System Reliability
iii) Audit for oversight
.
B) Enhancements to the Organization's Approach
A more thorough accounting on important non-financial items can frequently
increase the capital market value of your industry. Research indicates that
financial data on its own is a very limited tool for assessing a company's
profitability. Former executives can provide assistance to firms that need to
ensure the quality and dependability of management control knowledge.

C) Accounting Records Audit

There has never been a better reason to audit customer accounts. The commercial
environment of today examines and questions a company's banking statements more quickly
than it has in the past. for businesses that require an audit in order to comply with regulations
regarding the annual and regular publication of their accounting results. We can assist our
clients in the following areas: strategy and economics; social responsibility; environmental
health and safety management; corporate governance and business ethics; responsible supply
chain management; reporting and assurance of nonfinancial information.

D) Making Remarks About Sustainability

Analysts predict that your company will turn a profit. Customers also anticipate that your
company will seize the chance to uphold social norms while minimizing negative
environmental impacts. Businesses that wish to boost their operational effectiveness and
generate significant profits ought to think about Discussing Sustainability

Overview of the Organization

The cutting-edge infrastructure that has been chosen is adaptable and scalable, enabling it to
offer services to businesses of all sizes. Being headquartered in Delaware and having a
delivery center in Gurgaon, India, gives it a clear geographic advantage. It also maintains
offices in Australia and the United Kingdom. Our area of expertise is offering administrative
tasks, IT support, backend business support, and virtual/remote employee services. Our
primary clientele are busy business owners and entrepreneurs.
Our VAs is prepared to handle the demands of clients around the world. We have selected
seasoned VA employees to fulfill all of your needs.
We serve a variety of industries, including real estate, travel, human resources, business
process outsourcing, and information technology, and offer a wide range of services all under

9
one roof. Without a doubt, we can improve success, add value, and assist you in expanding
your company.
We want to make this tool available to everyone, in keeping with Azim Premji's wise words,
"The important thing about outsourcing or global sourcing is that it becomes a very powerful
tool to leverage talent, improve productivity, and reduce work cycles."

Though we are by no means restricted to a list of services, here is a sample of some of the
jobs that our virtual assistants can handle on your behalf.

• Job-related Activities

• Website/App Development;

• IT Support;

• Bookkeeping / Accounting;

• Calendar Management;

• Social Media Management;

• Email Management;

• Bookkeeping / Accounting;

• Virtual Dedicated Employee (we will Provide you employee according to the requirement)

We firmly think that wise delegation is the first step in ensuring the long-term success of the
companies.

Assistree is a recently established virtual workforce and outsourcing provider. Developed and
nourished by youthful and vibrant business executives with a laser-like focus and a high bar
set for itself, Assistree aims to empower start-ups, solo entrepreneurs, SMBs, and SME's
while offering the most affordable and effective solutions. To create this special model, we
have invested a great deal of knowledge, time, and perseverance.Outsource your finance and
accounting needs to Assistree today to redefine your financial processes and achieve your
financial transformation goals. Whether it's payroll, tax preparation, accounting, business
support, audit and accounts preparation, or bank reconciliations and financial reports on time
every time, we can meet the demands of a developing company. We are renowned for our
devoted and reliable staff, our incredibly prompt and accommodating services, and our
reliable financial accounting.

Go no further than Assisttree for individualized accounting services that provide flawless and
persuasive financial solutions. End-to-end accounting solutions, a sophisticated knowledge

10
base, and strategic financial advice will provide your company with the competitive edge it
needs. We provide a comprehensive range of services, including budgetary planning, cash
flow analysis, balance sheet and credit statement preparation, and expense accounting.

Assistree is a superb and strategic partner to fulfil all of your tax and financial auditing needs.
Make sure that the entire company is compliant, and that timely financial reports are prepared
to offer comprehensive business intelligence and insights. Whether it's managing approvals
and disbursements, processing invoices, processing internal or external reporting, any
growing business can meet its needs with the aid of Assistree.Match your aspirations for
financial success with your mission. Choose Assisttree to achieve the desired financial
change for your company. We provide:

• More economical solutions;

• Reduced processing costs

• Stricter adherence to regulations;

• Quicker processing cycles;

• Comprehensive financial data and insights

• Optimizing working capital and financial resource management strategically;

• Providing exceptional product cost accounting solutions;

• Simplifying data capture through invoice automation;

• Forecasting, budgeting, and reconciliation

Allow Assisttree to deliver the accuracy and precision that every prosperous company needs.
You can rely on our finance and accounting services to achieve your strategic financial goals
and streamline your business operations through outcome-driven processes.

11
Profile of the Organization

Vision
To make outsourcing accessible to all busy people, small and medium-sized
enterprises, and solo entrepreneurs.

Mission:

To help people or businesses maximize their time by relieving them of repetitive or non-
essential tasks through the use of our specialized and tailored virtual assistant services.

Features:
Integrity, dedication, constancy, proactiveness, alertness, flexibility, and a never-ending
pursuit of excellence.All of our VAs are trained with Assistree values, and they demonstrate
their dedication by acting with honesty, morality, and responsibility in everything they do.

Assistree Competitor
Tech Mahindra, Capgemini,

SWOT Analysis of a Company

Swot analysis is a technique used to determine Assistree's advantages, disadvantages,
opportunities, and threats. It is owned by for business and competitive purposes. It has
issues as a result of macroeconomic variables.
Important details regarding internal and external elements that could have an impact on an
organization's performance are provided by a SWOT analysis. It increases return on
investment, manages competition, finds new opportunities, and lowers the risks associated
with a variety of design and business issues.
Strength of Assistree
Strengths refer to the competencies and assets that the organization possesses to establish,
nurture, and advance a competitive edge within the marketplace.-

Strong Brand – In its industry, Assistree enjoys a solid reputation.

This enables the business to charge less than its rivals in a number of areas, such as for
business expansion; comprehensive income processing; and reliable bookkeeping with
modifications.

• Knowledge of debt;

12
• Cash flow management;

• Automation of processes through the effective use of technology;

• Tax efficiencies

Concepts, originality, and adaptability; meticulousness; internal and external departmental

communication and support; role variety; and knowledge synergy

Weakness of Assistree
One of Assistree's weaknesses might be the absence of key personnel or resources that the
company does not now have. Leaders have to decide if a lack of strategic planning or a lack
of strategic decision-making is the source of their weaknesses.
• Expenses process;
• Department experience;
• Due Diligence;
• Spotty filing, audit trail, and documentation;
• Prioritization; Man hours;
• Consistency;
• Bill payments without a sign-off process;
• Lack of a finance "Bible" outlining all functions, rules, and processes;
• Communication that is prone to breakdowns;
• Project management that isn't as strong as it could be;
• Feelings disconnected from the organization;
• Long-term vision

Opportunities of Assistree
•Write a process bible that all staff members, including those in finance and outside of it, can
understand.

•Acquire experience and learn how to avoid bad habits. Establish a department with natural
organization, dependable communication channels, and appropriate diligence. This will help
us grow and avoid mistakes.

•Reach a point where new hires can join the team, pick up the procedures quickly, and
require less training because they can refer to the guides.

•Use a project management tool to see the hierarchy of priorities.

•To communicate with shareholders, create a dashboard platform, regular communication,

and regular report.Grow in a sustainable manner;

•preserve and increase cost savings;

•Make quarterly, annual, and five-year plans.

13
Threats of Assistree

● Threats are elements that could have an impact on the business model of the company
as a result of shifting macroeconomic conditions and shifting customer attitudes.
Threats are manageable but uncontrollable;
● paying unjustified expenses and bills;
● failing to properly verify information, which could result in unfavorable
consequences, such as legal action
● Insufficient filing can result in the loss of important data and increase the time it takes
to find it;
● Insufficient manpower or prioritization can cause jobs to slip through the cracks;
● Slack procedures can lead to errors, inefficiencies, and costs for both new and existing
staff;
● Stockiness;
● Issues with the FCA, HMRC, or other legal or compliance bodies;
● Inefficiencies cost money, time, and cause frustration.
● Neglecting daily tasks in favor of ad hoc or larger-scale tasks, or the opposite
● Development of negative habits within a department

14
INTRODUCTION ABOUT
FINANCIAL
TRENDS

15
Trend 1: Digital money

The world of money has genuinely moved online. These days, you can use mobile apps or
your phone's scanner in a store to pay for goods and services with just a tap of the screen. In
China, a facial recognition payment service called "Smile to Pay" allows users to make
payments simply by grinning. Physical money is rarely relevant these days.

In essence, digital money is any form of money or payment that is exclusively available
electronically. This can range from something as basic as an online money transfer or
payment that is made through a traditional bank or credit card company to something as
intricate as a whole cryptocurrency like Bitcoin, which is typically not part of any one of
these platforms. conventional financial institutions). Therefore, digital money can be
transferred using credit cards, mobile devices, apps, online banking, money transfer services,
and cryptocurrency platforms. The important thing to remember is that no real money is
exchanged during the transaction process. The COVID-19 pandemic accelerated this trend by
making people and businesses less willing to accept contactless payments and handle
physical currency.To put it briefly, people are starting to trust digital money more and more,
replacing their long-standing faith in banks and other conventional payment methods. And as
a result, a plethora of new services are emerging that are poised to displace established
financial service providers (more on this to come). However, let's first examine the broader
effects of digital money.

Trend 2: The future of money – will physical money disappear?

16
Our relationship with money is being permanently changed by the digitization of money, to
the point where physical money may eventually become extinct. If you think that's
unrealistic, keep in mind that over 600,000 currencies have vanished in the last 30 years, and
it's not out of the question that more will follow suit and become digital currencies. That also
applies to major currencies. For instance, the European Central Bank is currently
investigating the possibility of implementing a "digital euro."Another effect of money going
digital is that our personal information is getting more and more entwined with our financial
information. In the future, even more information about you personally, like could be
incorporated into your financial transactions, regardless of whether you're a homeowner or a
student. One possibility is that payment methods will become mainly invisible and that
purchases of goods and services will be made automatically based on your identity. Although
this technology has the potential to be very revolutionary, there are also significant risks
related to identity theft and data security.

Trend 3: The rise of finance apps

That let users pay for goods (like contactless payments) and send money to others, are
helping to drive this new wave of digital money The fact that many of these apps and services
are provided by tech behemoths and digital-native startups like Apple, Google, Samsung, and
PayPal instead of traditional banks makes this trend extremely significant. This new wave of
fintech companies, driven by AI and data, is posing a threat to the long-standing monopoly
that traditional banks and financiMobile payment apps and so-called "digital wallets," which
are generally app-based services al service providers have regarding payments and funds. For
instance, Venmo, which is owned by PayPal, handled $159 billion in payments in 2020—a
59% increase year over year. Just consider how long a traditional bank would need to attain
that level of client growth. It's incredible. The world of unsecured lending is also starting to
embrace apps, thanks to services like Klarna, a millennial-favorite digital payment system
that allows customers to buy now and pay later. Once more, this will oust high street banks
and other lenders from market share.

Trend 4: Consumer expectations for more personalized, intelligent services

Massive data streams about customers' actual financial activities are being generated by the
digitization of money. These data streams can be leveraged to provide customers with useful
spending insights or even to cross-sell other pertinent financial products and services in the
future. An intelligent tool called Insights, for
instance, is available at independent UK bank Metro Bank. It evaluates customer spending
patterns to predict whether a customer will likely use their credit limit to the full amount
before their next paycheck or whether an unforeseen expense might put them in the red. In
the twenty-first century, banking clients will increasingly expect this kind of individualized,
custom service.Customer intelligence was identified as the most important predictor of
revenue growth in a PwC survey on technology in finance, demonstrating the significance of
this trend. In conclusion, clients demand these intelligent services, and you can be certain that
digital-native startups and tech behemoths will fill the void left by traditional providers

17
failing to deliver them. Over the coming years, banks will keep tackling technology initiatives
and customer engagement. In a report, Ate Group—a Boston-based company that predicts
trends in American banking—states that technology will keep giving customers more control
over their banking and shopping experiences. In order to gain a competitive edge in the retail
banking sector, financial institutions have gotten better at leveraging data and data analytics
to better understand the needs and behaviors of their clients.

The banking industry will continue to be disrupted by financial technology, or "fintech"

services, which will present banks and other institutions with opportunities to collaborate
closely with fintech companies that can help them innovate and streamline their business
processes. Fintech startups have the potential to displace traditional investment and lending
institutions with billions of dollars in revenue, according to recent research by Goldman
Sachs. Peer-to-peer lending, integrated financial software, payment transaction processing,
and online and mobile payment services for e-commerce businesses are just a few of the
services provided by fintech companies.

When it comes to money and investments, mobile financial apps will remain a differentiator
between traditional banking methods and cutting-edge businesses that can provide their
customers with a connected, digital experience. Customers who regularly deal with financial
institutions will anticipate personalized bank products and services. If not, they'll search
elsewhere for a competitive platform that can accommodate all of their banking and financial
requirements.

Even though the majority of banks still have local branch offices, branch banking will decline
in popularity over the coming years as online and mobile services gain traction. The majority
of banks currently provide apps that let users transfer money between accounts or deposit
checks using their smartphones. This process occurs almost instantly and eliminates the need
for users to get in their cars, drive to the bank, and place the check down in person. In
addition, smooth personal and business transactions are still made possible by online payment
platforms like PayPal, Apple Pay, Google Wallet, Shopify, Stripe, and others. Customers
expect their banking and financial transactions to be completed promptly and effectively in
this round-the-clock world.

Strategies to improve financial problem

1: Lead finance transformation and organizational change initiatives

The mandate of finance is growing, and there is increasing pressure to take the offensive
during a recession. CFOs need to make investments in finance transformation, artificial
intelligence (AI), and autonomous digital projects that make the finance organization faster
and leaner because they have a lot of competing business priorities, need to control costs, are
constantly implementing new technologies, and have a variety of service delivery options. To
achieve this, they must identify the appropriate individuals and priorities for the
transformation.

18
2: Develop and refine the data and analytics strategy
Enterprise-wide data strategy will be a primary duty for 50% of FP&A leaders by 2025.
Finance leaders must take a more active role in enterprise D&A governance and deepen their
grasp of the fundamental ideas of D&A as more finance teams become capable of carrying
out D&A strategies. Alternatively, they risk being dependent on IT to carry out their D&A
strategy. Finance leaders will need to develop a D&A strategy that fits the requirements of a
cutting-edge, modern company by 2023 and become conversant with the fundamental D&A
concepts needed to launch or advance important finance transformation projects.

3: Align spend to growth

These days, disruption is the new normal. Good planning for a company's use of its financial
resources is insufficient in this context. CFOs need to combine their more conventional
efforts to expedite capital allocation procedures with "capital activism." Capital activism
applies the stances that the most successful private equity firms and activist investors have
adopted to the internal management of capital through CFOs and their teams. Senior finance
4: Build a more human employer-employee relationship
The contemporary work and business environments have brought about changes in employee
expectations and the way in which leaders must fulfill their fundamental duties. In order to
thrive in the contemporary work environment, finance executives need to unite their staff,
restore unity, and take innovative steps. They are unable to accomplish this, though, by using
the outdated ideas. Eighty-two percent of workers believe it is critical that their employer
views them as more than just a worker. In order to meet the demands of the modern
workforce, finance leaders and their HR partners need to rethink the employee value
proposition (EVP) and develop a more humane workplace culture that leverages employee
potential by celebrating diversity.

5: Set finance’s technology strategy and roadmap

The great majority of CFOs are depending on technology investments to accelerate

transformation in response to ongoing disruption. 92% of CFOs said they intended to
increase their investment in technology in the 2022 Gartner CEO and Senior Business
Executive Survey, up from 70% in the previous year.Despite rising investments in
technology, data indicates that only thirty percent of technology projects are
successful. Finance teams find it challenging to determine which technologies to
invest in and which capabilities to prioritize due to the current complex and
compartmentalized legacy technology portfolios. A contemporary and efficient
method for evaluating and organizing a technology portfolio is for CFOs to establish a

19
composable finance technology strategy and roadmap. It aids in the transformation of
the financial industry's technological environment into an ecosystem of demountable,
modular application building blocks that allow for more business-focused and agile
financial organizations..

Future of finance
The financial industry has a very bright future if you look ahead 20–40 years. As we
can see, a large number of nations are involved in the financial sector.In general, a
large number of academics and decision-makers concur that the following five major
global forces will play a crucial role in shaping the future economy:The emergence of
digital technologies is the first;sustainability is important, particularly in light of
climate change;changing demographics is a factor in third; geopolitics is complex in
fourth;and structural transformation is inevitable in fifth

Allow me to quickly summarize the essential characteristics that will characterize each of
these factors. We will revisit and delve deeper into these characteristics throughout today's
conversation.

First, in terms of electronic devices: Automation and other technological advancements like
digitalization will be crucial for long-term, inclusive growth. They will also interact with
demographic shifts and have the potential to completely transform entire sectors and
industries. The international monetary system will also be shaped by the emergence of digital
assets and cutting-edge cross-border financial intermediation techniques. That element has
the potential to drastically change the macroeconomic environment globally.

Second, sustainability and climate change: On the one hand, these issues will cause
significant macroeconomic and financial harm, and they will disproportionately affect certain
countries, many of which are already impoverished or face food insecurity. The fiscal and
financial ramifications of policies to mitigate and adapt to climate change could have an
impact on the economic prospects of many nations. On the other hand, governments will be
able to facilitate technological innovation and diffusion, which will be crucial. That will
create a ton of brand-new possibilities.

Thirdly, with regard to demographics, the disparate dynamics of working-age population

ratios around the world will have a significant impact on the world economy. While some
large Emerging Markets and most major Advanced Economies will experience a faster
decline in working-age population ratios, other Emerging Markets, including most of Sub-
Saharan Africa, will experience a demographic boom. Therefore, policies implemented by
nations, such as providing equal opportunities for women to engage in the economy, are
essential in reducing or maximizing the effects of demographic change on the world
economy.

20
Fourth, in terms of geopolitics, the world is becoming more multipolar as new players acquire
power, and this will continue to affect financial networks and supply chains involved in
international trade. This has the potential to alter both the current multilateral environment
and globalization in general. Solutions that satisfy both parties must be found for such
changes. The growing number of multinational corporations is also anticipated to create new
difficulties for policymakers in a number of areas, including market power, taxation,
regulation, and service delivery.

Fifth and lastly, in terms of structural transformation: Supply-chain reallocation, automation,

and technological advancement have all been sparked by the pandemic. Both significant
opportunities and challenges are being presented by this transition. Supply disruptions and
disorderly labor displacement are major risks. However, there are also ways to use this
change to "build forward better," such as through making investments in resilience, climate
transition, and mitigation; generating employment for the EMDE population that is
expanding; and utilizing digitalization to boost the effectiveness of financial inclusion and
government service delivery. These changes, which are intended to hasten the recovery of a
green, sustainable, digital, and inclusive economy, will be shaped in large part by government
policies.

There will be profound interactions between all of these ongoing trends, so careful
management is required. Sound management and good governance are even more crucial
because these trends are occurring concurrently and will interact and influence one another.

What will these changes mean for our organization's role as the rate of change quickens? We
are currently working to address the challenges that we see are emerging.

The IMF is refining and bolstering its country-by-country economic analysis. The IMF is
updating surveillance to keep up with the rate of change and assist policymakers in better
preparing for an evolving economic environment. The Comprehensive Surveillance Review
for this year is a prime illustration of that pattern.

The most important question for emerging economies is whether they can provide better
education and relevant skills to accommodate their expanding populations while also creating
jobs. Furthermore, it is imperative that these economies continue to grow in an inclusive and
sustainable manner by allocating a sufficient amount of funds for social services and health
care. That will keep them appealing to a worldwide workforce that is becoming more and
more mobile. Furthermore, in order to supplement their abundance of labour, those
economies must be able to draw in capital from around the globe. Progress on structural
reforms is necessary for this.

In a world growing more interconnected by the day, migration patterns are subject to rapid
change when the prospects of a particular nation or region change, whether due to the effects

21
of climate change or a lack of inclusive economic progress. A nation's economic prospects
can be seriously harmed by the loss of young, educated citizen

In contrast, the ability of aging economies to offset the effects of population declines will
depend on their ability to boost labour participation rates, boost productivity through labour-
saving technologies like automation, and rely on migration.

Furthermore, demographic trends will interact with other trends like climate change and
technological advancement. Businesses will be able to source labour from around the world
more and more. Therefore, the greatest of challenges lie in ensuring the flexible flow of
labour, capital, and goods and services through globalized supply chains that are destined to
become ever more stretched and, consequently, ever more fragile.

22
 CHAPTER-2

RESEARCH METHODOLOGY

23
Objective of study

Establishing financial objectives can be crucial for a company's growth as it guides the
allocation of financial resources and the identification of objectives. Budgets and revenue
targets are common components of financial objectives, which assist a company in
developing policies based on particular metrics. You can assess whether financial goals are
necessary for your own organization by learning about financial objectives and how
businesses use them..

1- it helps to increase the margins

2-it helps to increase the revenue

3-it helps to increase the cost of goods which is beneficial for the companies

4-helps to reduce overheads

Data Collection Method

Assistree, may use various data collection methods to gather financial data.
These methods typically include:
Financial Statements: Financial information may be gathered by Assistree from its own
internal financial statements, which include cash flow, balance sheet, and income statement
reports.
External Data Sources: In order to monitor market trends and competitor performance, they
may also gather information from outside sources, such as stock exchanges, regulatory
bodies, and financial news websites.
Market Research: For the purpose of making financial decisions, market research is often
conducted to acquire information on consumer preferences, market demand, and industry
trends.
Customer Surveys: Customer feedback and survey data collection can reveal information
about customer satisfaction and aid in the development of better goods and services.
Accounting Systems: Managing financial data effectively through the use of accounting
software and systems for data collection.

24
Economic Indicators: Keeping an eye on economic indicators to gauge the overall state of
the economy, such as GDP growth, inflation rates, and interest rates.
Industry Reports: Reading publications and reports tailored to a particular industry to keep
up with the most recent advancements and trends.
Internal Data: Making educated financial decisions by analyzing internal operational data,
such as production volumes, sales numbers, and cost data.
Financial Modelling: Building financial models to forecast cash flows, earnings, and overall
financial performance in the future.It's crucial to remember that Assistree's particular data
collection techniques may change based on their particular requirements and business
operations.

Limitations of the Research : company's limitations could alter over time as a result of
internal problems, external competition, business, and change. You should speak with the
company directly or refer to the most recent financial reports, news, and reviews from
reputable sources to understand its current limitations.

● Inadequate data collection: As previously stated, inadequate data collection that

is crucial for the study results from the discrepancy between the expected work that
employees perform and the actual work that is observed during the work. personnel.
● Difference between expected work and assigned responsibilities: When I first
started working, I discovered that the duties I had been assigned prior to joining were
not the same as those of the job.
● Long working hours:The business is open from 9am to 6pm, and I have to report
before 10 a.m. or until my boss, the head of HR, leaves.
● Less rest: I can only enjoy 30 minutes for lunch and 15-20 minutes for tea time,
which excludes insignificant rest periods, as we have previously discussed regarding
long workdays. Get involved

25
 CHAPTER - 3
CONCEPTUAL DISCUSSIONS

26
Review of Literature

An assessment of Assistree's literature Here, we're talking about other people's work on
related topics as well as published books, articles, research projects, etc.
Assistree personnel working in the finance department are in charge of a number of financial
tasks that guarantee the company's compliance and sound financial standing. Among the
principal duties and obligations in the field of finance could be:
Financial Reporting: financial statement preparation and analysis, including cash flow,
balance sheet, and income statement preparation.
Budgeting and Forecasting: Making financial projections and budgets to direct the
business's financial planning and decision-making.
Cost Control: Cost tracking and management are necessary to guarantee smooth financial
operations.

Financial Analysis: carrying out financial analysis to evaluate the business's financial
performance and pinpoint areas in need of development.

Accounts Payable and Receivable: Taking care of money owed to suppliers (accounts
payable) and customers (money receivable).
Tax Compliance: overseeing tax planning and making sure tax laws are followed.

Treasury Management: Handling the finances, investments, and cash flow of the business.

Risk Management: recognizing and controlling financial risks, such as credit, interest rate,
and currency exchange risk.

Audit and Compliance: collaborating with external and internal auditors to guarantee
financial integrity and compliance.

Financial Strategy: working together with internal and external auditors to ensure
compliance and financial integrity
Capital Allocation: Choosing how much money to put toward investments and projects.

27
Financial Controls: Implementing and maintaining internal financial controls to safeguard
company assets.
Depending on the position within the finance department and Assistree's organizational
structure, the precise roles and responsibilities may change. In order to maintain the
company's financial stability and make sure it complies with legal and regulatory
requirements, finance professionals are essential.

Particularly when it comes to navigating the financial industry, tech startups have come to be
associated with flexibility and inventiveness. For these businesses, cryptocurrency—
especially Bitcoin—has grown significantly, providing them with new opportunities for
expansion. Let's examine how these businesses strategically take advantage of financial
trends to support their growth.

One thing tech startup excel at is responding quickly. They closely monitor Bitcoin prices,
but they do more than just observe; they also attempt to deduce what the prices indicate about
the state of the market. These startups seize the opportunity to expand by developing new
products or services in the event that the price of bitcoin rises. They may experiment with
new approaches or improve their blockchain technology if the price of bitcoin declines.

Including Bitcoin into their operations is another wise decision made by these companies. By
doing this, they're drawing in interest from companies looking to stay competitive as well as
from cryptocurrency enthusiasts. They're leading the way in the online financial industry, not
just catering to a select few clients.

For tech startups, tokenization is a brand-new, exciting opportunity. Like with Bitcoin, the
idea is to turn tangible items like real estate or artwork into digital tokens. In addition to
making it simpler for them to obtain funding, this also opens up the possibility of more
people owning a variety of assets. And all of this is taking place as they follow the current
wave of digital currency trends.

In the world of Bitcoin, decentralization is another major trend that many startups are
adopting. Startups are increasing efficiency while lowering risk exposure and operating costs
by shifting to decentralized business models. This strategy aligns nicely with the core
principles of cryptocurrencies such as Bitcoin. It's also excellent for expanding businesses
globally without using traditional banks or other middlemen.

Initial Coin Offerings, or ICOs, are quickly gaining traction as a way for startups to raise
capital without adhering to traditional fundraising guidelines. When an ICO gets going, even
with its volatility, it can raise a significant amount of money by issuing its own digital tokens.
The tech industry moves quickly, so this process is frequently quicker and less regulated.

The blockchain is also transforming the way businesses retain their clientele. Rather than the
standard points that may not be very valuable, some businesses

28
present incentives in the form of cryptocurrencies, which have the potential to appreciate in
value over time. Customers can now feel even more invested in the success of the business
they are supporting thanks to this exciting method.

Additionally, data analysis is still a crucial component of startup tactics. Startups that closely
monitor the trends in the Bitcoin market are able to predict changes in the market and modify
their strategies accordingly. By using a data-driven approach, startups can make sure they're
staying ahead of the financial curve and making wise decisions.

Tech companies are actively using financial trends like Bitcoin to propel their growth rather
than just reacting to them. These businesses keep pushing the boundaries of finance and
redefining industry standards. It will be interesting to see how they take advantage of the
upcoming financial trend to propel their grow

29
CurrentIssues
CThe sharp slowdown in the economy in 2001—which pushed bank- ruptcies to their
highest level since 1984—and the steep drop in equity prices once again raised
questions about the financial health ofJapan- ese banks and life insurance companies.
The authorities have re- sponded to the long-term weaknesses in the banking sector by
setting out a three-pronged strategy for restoring their finacialrestoring confidence in
the banking sector. Continued progress, how- ever, will be required if the removal of
the full guarantee on most de- mand deposits—now scheduled for end-March 2005
after having been delayed by two years from the previous deadline—is to proceed
health, based on (1) strengthening classification and provisioning standards to ensure
that loans are realistically valued on balance sheets; (2) removing non- performing
loans (NPLs) from balance sheets within a 2-3 year time frame; and (3) reducing
exposure to equity price risk. Together with the withdrawal of the deposit insurance
guarantee for large time deposits from April 1, 2002, these measures represent
important steps towards smoothly. In the life insurance sector, declining equity
prices and neg- ative yield spreads have adversely affected financial strength, but fur-
ther bankruptcies so far have been avoided. Given their holdings of foreign securities
and lending overseas—particularly in Asia—the con- tinued stability of the Japanese
banking and life insurance sectors are important not only for the domestic economy,
but also for international markets.

30
Ways an IT Development Company Can Help You Succeed
IT Development Process One of the most important things that IT development
companies do is work with the customer to design, develop and maintain software.
This process can be broken down into four steps that the customer will go through
with their hired IT development company. The first step is discovery. In this step, the
IT development company will learn more about what the customer wants to
accomplish and what they have in mind for this project. The second step is analysis.
This step seeks to answer questions like: are there any risks? What are the best
solutions? What should we include? How much does it cost? And many more
questions related to how to move forward with a project. The third step is delivery.
This includes everything from design and development, training, installation and
support. Finally, the last step is maintenance. This includes annual support contracts
and monthly updates for a program or software product to run properly on a computer
system.
Software Development The development process for software depends on the type of
software that is being developed. For example, there are web-based applications,
which are an application accessed through a web browser. There are also desktop-
based applications, which are an application that runs from a computer's hard drive.
Desktop-based apps can be installed on mobile devices and laptops as well. The
process for designing and developing any software can vary depending on the type of
software it is and its intended purpose. Factors like industry and company size play
into the process as well. However, there are many steps in every IT software
development process, including: design and conceptualization; coding; testing;
installation; training, maintenance, and support; developer recruitment; etc.
IT Infrastructure Development IT development companies often develop the IT
infrastructure that companies and organizations operate on. One example of this is
creating a website or online portal that the company uses. The company may also
develop software to run on their created development, such as an app. They may even
design and install hardware for the business or organization.
IT Trainee and Staffing IT training and staffing are two prevalent activities of IT
development companies. Training is educating company members in software,
coding, and other IT-related skills. Staffing is the process of hiring new employees for
company.
Developing the Software That's Right for You As part of the development process,
IT Development Companies will assess your needs and your risks before deciding
what software is right for you. Different businesses have different needs, and not all
software is created equally. It's important to find a company that understands your
specific requirements so you can be confident in the system they install.
Risk Assessment Before you start any project, it's important to identify potential
risks. An IT development company can help you by conducting a risk assessment for

31
your business. They'll examine any possible vulnerabilities and assess how likely they
will occur. This includes data loss or corruption, software errors, and even hardware
failures. This ensures that your organization has the best chance of avoiding
catastrophes in the future. It also provides valuable information that helps you prepare
success.

32
 CHAPTER- 4
DATA ANALYSIS AND
INTERPRETATION

33
1 Introduction

In the 21st-century digital age, knowledge and information are easily accessible to an
increasing number of individuals on a daily basis. Every moment, societies produce
enormous volumes of data from a variety of sources. These data sets are then transformed
into new landscapes mediated by various digital media platforms, digital services, and
technologies, giving rise to big data and business analytics ecosystems. The potential of the
generated data, which can result in value creation, business change, and social change, is
becoming more and more apparent to the various actors in society, including industry, public
and private organizations, entrepreneurs, academia, and civil society. In order to achieve this,
a large number of business owners and startups are actively working to harness the power of
big data in order to develop hardware and software that could add value, provide them a
competitive edge, and enhance a variety of facets of human life.
Startups are recently established businesses that produce innovative technology and have a
significant effect on the world economy. Startups face particular difficulties with product
development and innovation techniques in an environment of extreme unpredictability and
constrained financial, human, and physical resources [10].
This leads to a high rate of failures, mostly as a result of self-destruction as opposed to
rivalry. Operating in dynamic, competitive, high-risk environments requires constant
experimentation in order to learn and quickly bring products to market.
The body of research on the potential benefits of big data analytics for business and societal
change is growing, but more work is still required to pinpoint and remove any obstacles that
stand in the way of practitioners reaping the rewards of big data and analytics. Big data
analytics and digitization have upended business models and can be crucial instruments in
lowering the rising failure rates of well-established businesses [6]. Creative startups benefit
from lower barriers to entry for technologies that upend existing distribution.
channels, client expectations, and client connections. In the context of managerial decisions
that create value, big data analytics is especially important in augmenting or even replacing
labor with machines [8]. Even with less barriers to entry, startups still face resource
constraints and a shortage of managerial and technical expertise. Nonetheless, startups
possess certain attributes (like the capacity to swiftly modify and expand their business plan)
that allow them to rival established businesses. Although the use of data analytics can be a
significant success factor in the increasingly competitive business landscapes, the role and
prevalence of this technology in startups remains to be investigated.
In this research, we examine how hardware startups can take advantage of big data and looks
for ways to overcome obstacles so they can use big data analytics to create value and make
data-driven decisions. Hence, by responding to the following research questions, this paper
will provide insight into software and hardware startup companies:

34
 RQ1 How can startups create value from (big) data and analytics?
RQ2 What are the barriers for working with (big) data analytics in hardware
startups?
In order to investigate early-stage European hardware startups that produce both hardware
and software components, this study conducts a multiple-case investigation. Despite the
enormous potential of (big) data analytics, research shows that startups creating both software
and hardware do not capitalize on it. use data analytics not at all for a variety of reasons.
In light of this, a number of obstacles and challenges have been identified for using data
analytics in these kinds of startups, such as the scarcity of diverse data and the difficulty of
carrying out business experimentation.

Utilization of data analytics

There was generally little use of data analytics techniques among the startups under
investigation. When they first started out, they were frequently focused on creating new
features quickly and validating them with customers. For the most part, the startups included
in this study obtained customer feedback through qualitative methods like interviews and
observations. "We do not collect customer data, and we have not used data analytics." They
minimized any effort spent on data analytics when concentrating on the short-term business
goals, instead concentrating on the core values of their products to expeditiously release a
minimum viable product.
It was thought that improving data collection methods would take some time. "At this time,
we don't dedicate any resources to data analytics."
While most startups didn't dedicate much time to collecting or analyzing data from data
analytics experiments, a few were well aware of the potential advantages and business
prospects that could arise from using them. Even in that case, data analytics was typically
outside the purview of their company. "We are not focusing on data analytics at this time, but
we have looked at some potential uses for it in the future." A braking mechanism for
increasing attention to data analytics was that the startups in this
There were not a lot of data available for the study. The limited availability of valuable data
hindered the potential for data analytics to add value.
"Data analytics is too new for us to benefit from it yet."
The corresponding success of startups is significantly influenced by the team members'
abilities. Based on our investigations, we observed that startups with members who possess
experience or expertise in the field are placing a greater emphasis on data analytics.
Notwithstanding the generally low usage of data analytics, having the necessary expertise can
help a startup organization adopt the technology widely. We work primarily in-house when it
comes to data analytics. Your business must be able to obtain that knowledge.
However, while startups were aware of the potential and advantages of using data analytics to
make decisions and extract requirements, they concentrated primarily on the essential
features of their products in order to expedite development. The results indicate that activities

35
related to data analytics that add value were deemed less significant than those related to
product development.

36
Discussion and Conclusions
This study looks at how using data analytics techniques can help startups create value. Since
most of the research in this area focuses on software-only startups, we decided to look into
companies that produce both software and hardware. Due to unique challenges that set them
apart from traditional software startups, this particular category of startups is very interesting.
In fact, these startups are more likely to encounter difficulties like scarce resources or a
reliance on outside sources related to hardware development.
It is anticipated that these obstacles will impact their capacity to leverage big data and
analytics for value creation.
The results indicate that while some of the startups are aware of the potential benefits of
using (big) data analytics, they are unable to incorporate them into their business models and
processes due to a number of obstacles. The primary obstacles to using (big) data analytics
that this study identified are shown in Table 2. To be more specific, the startups struggle with
their ability to prototype because they can only create a finite number of hardware prototypes,
which limits how many people can use them simultaneously. This is closely related to the
constrained financial resources that Since they must work under tight deadlines and through
labor-intensive procedures, young startups also struggle with the time constraints that define
them.
The issue of limited prototyping capacity may have an indirect impact on the accessibility of
data. More specifically, there is an influence on generated data due to limited hardware and
users. Better planning and more targeted end-user testing of their products could help
overcome these limitations. Furthermore, a few of the startups state that because of the nature
of their industry (medical technology tested in hospitals, for example), they have unique
security and privacy challenges relating to the use of personal data. However, these obstacles
can be addressed with cooperation from the various societal actors (business, government,
and academia), and the EU's most recent data protection directive (also known as the GDPR)
is a step in that direction. Lastly, the startups state that their overall business strategies do not
include knowledge generation from data analytics because it is not a primary objective for
them. This is connected to the other obstacles in terms of prototyping ability and resource
accessibility, as they feel data analytics cannot help them accomplish their immediate
objectives.

37
 CHAPTER – 5
MY CONTRIBUTION TO THE
BODY OF KNOWLEDGE

38
WHAT IS BOARD RESOLUTION IN A COMPANY?

Board resolutions are documents that document the choices and actions made by the board of
directors of the company during a meeting or by written consent. It is a crucial component of
corporate governance and a formal, legally binding record of board decisions. The Board of
Directors' decisions are frequently used to make crucial choices, establish corporate policies,
and give the go-ahead for different actions and transactions.

Here are some key ideas and observations about board decisions.:

Formality: Board decisions are official documents. They are usually written in a pattern and
follow a specific pattern, including the title, "when" clause, "solve" clause, and signature.
Purpose: The purpose of the board of directors' decision is to record the decisions of the
board of directors on important issues. These decisions may consist of appointing officers,
accepting financial transactions, implementing policies, launching products, manufacturing
products, or other significant business activities.
Contents:

Title: The solution starts with a clear title that explains the topic. To make a decision.

Content-based: Context and context for decision-making are provided by this content. They
gave an explanation of the events and motives behind the board's investigation.
Solution: The word "decide," which denotes particular choices or actions made by the board,
is central to the resolution. This is the point at which the board authorizes or approves action.
Signature: To fulfill its obligation, the board of directors verifies the decision or a
representative sign the document.
Date: The resolution must include the date of the board meeting or the date of adoption.

Legal significance: Decisions made by the board of directors have legal implications. These
serve as evidence that the board has given it explicit permission in this regard. These can be
utilized to demonstrate that the business has put in place suitable management procedures in
the event of a legal or regulatory investigation or disagreement..
Rules and Procedures: In general, the company's policies and products govern the decisions
made by the board of directors. The design, delivery, and validation processes for solutions
are described in this document. Bylaws may also grant the right to vote on a range of issues.

39
Recording: Appropriate documentation of decisions ought to be kept on file with the
organization's official documents. Transparency, compatibility, and historical use all depend
on this. After the decision has been made, it is crucial to make sure that the decisions or
actions it specifies are carried out..
Types of resolutions: The board of directors has many different kinds of resolutions,
including ordinary resolutions (usually approved by simple vote), special resolutions (usually
approved by a majority), and dispute resolution (which requires approval from every
director).
The board of directors' decisions have a significant impact on how the company is managed
and constitute a significant portion of their authority to oversee and run the business.
How to make board resolutions?

One of the board of directors' decisions is a crucial one for the business. A written legal
document detailing the decisions or actions made by the board of directors of a company is
called a board resolution.

Here's how to call a meeting to make decisions:

Understand the purpose: Know exactly what the board's objectives are. It could involve
approving financial decisions, selecting directors, putting policies into effect, or approving
other crucial issues that need board approval.
Review Governance Information: To comprehend the guidelines and protocols controlling
the resolution, go over the company's Rules of Engagement and Rules of Engagement
policies. Verify that the solution you propose complies with this agreement as well as with all
relevant legal requirements.
Problem solving: coming up with a succinct and clear solution. Add the following essential
components:
Title: A title that clearly indicates the subject of the resolution.
Date: The date of the resolution.

Whereas Clauses: These give the resolution's background or context. They ought to be
precise and pertinent to the choice.
The resolution's most important section is the resolved clause. It describes the precise course
of action or choice that the board is following. It ought to be unmistakable and explicit.
Signatures: Make room for the board members' signatures who will be casting votes on the
resolution.
Date of Effectiveness: Indicate the day on which the resolution comes into force.

40
Give the Resolution a Look: Present the resolution for approval and discussion at a board
meeting. Be ready to respond to inquiries and offer further details to bolster the resolution.
Board Debate and Vote: The board will debate the resolution, pose queries, and then cast a
vote. Depending on the decision and the company's participation product, a simple majority,
actual majority, or universal vote may be needed.
List the names of the board members who agreed, disagreed, or voted against the coupon.
The decision must take this information into consideration.
Decision: The Board of Directors will make this decision if it is approved. To fulfill his or
her obligation, the resolution must be signed and dated by the Secretary of the Board of
Directors or another designee.
Distribution: Give copies of the decision to all parties involved, including management,
staff, and other interested parties who may be impacted by it.
Taking Notes and Filing: A copy of the ruling should be retained in the business's legal
files. For tracking, analysis, and future use, this is crucial.
Making Choices: Ensure that the decisions made are carried out and that everyone
concerned is aware of them.
Recall that board decisions ought to be treated seriously because they are legal documents.
Please get legal advice if you have questions about the rules or the legal implications of a
certain course of action.

What does the Assistree company do?

The cutting-edge infrastructure that has been chosen is adaptable and scalable, enabling it to
offer services to businesses of all sizes. Being headquartered in Delaware and having a
delivery center in Gurgaon, India, gives it a clear geographic advantage. It also maintains
offices in Australia and the United Kingdom. Our area of expertise is offering administrative
tasks, IT support, backend business support, and virtual/remote employee services. Our
primary clientele are busy business owners and entrepreneurs.
Our VAs are prepared to handle the demands of clients around the world. We have selected
seasoned VA employees to fulfill all of your needs.
We serve a variety of industries, including real estate, travel, human resources, business
process outsourcing, and information technology, and offer a wide range of services all under
one roof. Without a doubt, we can improve success, add value, and assist you in expanding
your company.
We want to make this tool available to everyone, in keeping with Azim Premji's wise words,
"The important thing about outsourcing or global sourcing is that it becomes a very powerful
tool to leverage talent, improve productivity, and reduce work cycles."

Though we are by no means restricted to a list of services, here is a sample of some of the
jobs that our virtual assistants can handle on your behalf.

41
• Job-related Activities

• Website/App Development;

• IT Support;

• Bookkeeping / Accounting;

• Calendar Management;

• Social Media Management;

• Email Management;

• Book Keeping / Accounting;

• Virtual Dedicated Employee (we will Provide you employee according to the requirement)

We firmly think that wise delegation is the first step in ensuring the long-term success of the
companies.

Assistree is a recently established virtual workforce and outsourcing provider. Developed and
nourished by youthful and vibrant business executives With a laser-like focus and a high bar
set for itself, Assistree aims to empower start-ups, solo entrepreneurs, SMBs, and SME's
while offering the most affordable and effective solutions. To create this special model, we
have invested a great deal of knowledge, time, and perseverance.

Outsource your finance and accounting needs to Assistree today to redefine your financial
processes and achieve your financial transformation goals. Whether it's payroll, tax
preparation, accounting, business support, audit and accounts preparation, or bank
reconciliations and financial reports on time every time, we can meet the demands of a
developing company. We are renowned for our devoted and reliable staff, our incredibly
prompt and accommodating services, and our reliable financial accounting.

Go no further than Assisttree for individualized accounting services that provide flawless and
persuasive financial solutions. End-to-end accounting solutions, a sophisticated knowledge
base, and strategic financial advice will provide your company with the competitive edge it
needs. We provide a comprehensive range of services, including budgetary planning, cash
flow analysis, balance sheet and credit statement preparation, and expense accounting.

Assistree is a superb and strategic partner to fulfil all of your tax and financial auditing needs.
Make sure that the entire company is compliant, and that timely financial reports are prepared
to offer comprehensive business intelligence and insights. Whether it's managing approvals

42
and disbursements, processing invoices, processing internal or external reporting, any
growing business can meet its needs with the aid of Assistree.

Match your aspirations for financial success with your mission. Choose Assisttree to achieve
the desired financial change for your company. We provide:

• More economical solutions;

• Reduced processing costs

• Stricter adherence to regulations;

• Quicker processing cycles;

• Comprehensive financial data and insights

• Optimizing working capital and financial resource management strategically;

• Providing exceptional product cost accounting solutions;

• Simplifying data capture through invoice automation;

• Forecasting, budgeting, and reconciliation

Allow Assisttree to deliver the accuracy and precision that every prosperous company needs.
You can rely on our finance and accounting services to achieve your strategic financial goals
and streamline your business operations through outcome-driven processes.

43
 CHAPTER-6

FINDING, CONCLUSION
AND SUGGESTION

44
Observations regarding the results
I gained the following skills while opening both domestic and foreign purchase
invoices into an ERP software system, preparing parties in compliance with this
standard, and itemizing deductions like VAT, Tax Deduction, and Payroll.
However, I ran into a few problems when carrying out tasks at the station. The
company is global, so there is a cultural gap. There are also times when the
system crashes and leaves work unfinished.
Recommendations suggested for the betterment of the firm:
i) Consistent communication with suppliers to ensure financial figures are
reconciled.
ii) Regular software updates should be made in order to prevent platform
billing delays. iii) The company needs to buy a voltage regulator even
though it generates enough electricity to handle blackouts.

SUGGESTION

1.Regular Training Programs: To keep staff members informed about changes

to tax laws and regulations, encourage them to attend regular training sessions.
To ensure that you are providing your clients with accurate and compliant
advice, stay up to date on new laws and revisions.

2. Client workshops or webinars: To educate clients about new regulations and

tax preparation strategies, consider hosting webinars or seminars.

3. Cutting-edge tax software: To reduce error risk, streamline computations,

and speed up compliance processes, encourage the use of cutting-edge tax
software.

4. Task Automation for Compliance: Make the recommendation to automate

time-consuming compliance tasks so that professionals can focus on more
complex tax scenarios and long-term planning.

5. Regular Risk Assessments: Promote regular risk assessments to assist

clients in identifying potential tax-related issues. Make plans to lower these
risks and ensure compliance.

45
6. Customer Due Care: Emphasize the importance of conducting thorough due
diligence on clients in order to understand their business procedures and
foresee potential tax issues.

7. Specialized Tax Assistance: Consider focusing on particular tax services or

niche markets, such as international taxation, transfer pricing, or both.
Specialization can set a company apart and attract customers seeking in-depth
information. in particular fields.

8 Sector-Specific Information: Encourage obtaining a thorough grasp of the tax

implications within specific industries and tailor services to meet the unique needs of clients
in those domains.

9. Audit Participation: Offer legal assistance during tax audits to allay client concerns and
ensure a smooth process. Establish a process for handling and resolving tax-related issues.

10. Educate Customers on Adherence: Offer educational materials to help clients understand
the need for compliance and the potential consequences of non-compliance.

Collaborate with Legal Experts: To handle clients' tax and legal concerns comprehensively,
promote collaboration with legal experts. Verify that the company has close ties to the
financial and legal sectors.

46
QUESTIONNAIRE

Age

a) 20 -30
b) 30-40
c) 40 -50
d) Above 50

Gender

a) Male
b) Female

1.Are you aware of the following investment Avenues?

a) Safe /low risk investment avenues: saving account, bank fixed deposits, public
provided funds

b) Moderate Risk investment avenue: mutual funds, life insurance, debentures, bonds

c)Traditional investment avenues: real estate, gold, silver, chit funds

d)High risk investment avenue: equity share market, commodity market, forex market

2.What do you think are the best option for investing your money? Choose from the
above

a) options

b) Mutual Fund

c) LIC

d) PF

47
3. In which sector do you prefer to invest your money?

a) Private Sector

b) public sector

c) foreign sector

4.what are you saving objective?

a) children’s education

b) retirement plan

c) home purchase

d) health care

5. What is the purpose behind investment?

a) wealth creation

b) tax saving

c) earn returns

d) future expenses

6. which factor do you consider before investing?

a) safety of principal

b) low risk

c) high return

d) maturity period

7. How often do you monitor your investment?

a) daily

b) monthly

c) occasionally

48
8. what percentage of your income do you invest?

a) 0-15%

b) 15-30%

c) 30-50%

49
Bibliography

Jones, S.L. 1992 Treasury Data on U.S. International Portfolio Investment Collection
Methods and Uses. Paper presented to the Panel on International Capital Transactions,
Washington, D.C., April 23, 1992.

J.P. Morgan 1991 Swaps: versatility at controlled risk. World Financial Markets (April).
Kester, A.Y., ed. 1992 Behind the Numbers: U.S. Trade in the World Economy. Panel on
Foreign Trade Statistics, Committee on National Statistics, National Research Council .
Washington, D.C.: National Academy Press.

Kindel, S. 1992 The esperanto of documents. Financial World 161(14):64-65.

Kindleberger, C.P., and D.B. Audretsch 1983 The Multinational Corporation in the 1980s.
Cambridge, Mass.: MIT Press.

Kliesen, K.L., and J.A. Tatom 1992 The recent credit crunch: The neglected dimensions. The
Federal Reserve Bank of St. Louis Quarterly Review 74(5):18-36.

KPMG Peat Marwick, Policy Economics Group 1992 Review of Internal Revenue Service
Statistics on Foreign-Controlled Domestic Corporations in 1983 through 1988. Paper
prepared for the Organization for International Investment. Washington, D.C.: KPMG Peat
Marwick. Krueger, R.C. 1992 Financial Innovations and National Accounts. Paper presented
at the 22nd General Conference of the International Association for Research in Income and
Wealth. (August) Flims, Switzerland.

Lall, S., and P. Streeten 1977 Foreign Investment, Transnationals and Developing Countries.
London: Macmillan.

Landefeld, J.S., and A.M. Lawson 1991 Valuation of the U.S. net international investment
position. Survey of Current Business 71(5):40-49.

Landefeld, J.S., A.M. Lawson, and D.B. Weinberg 1992 Rates of return on direct investment.
Survey of Current Business 72(9):79-86.

Lary, H.B., and Associates 1943/1975 The United States in the World Economy. Originally
published by the U.S. Department of Commerce. Westport, Conn.: Greenwood Press.
National Academies of Sciences, Engineering, and Medicine. 1995. Following the Money: U.

50
REFERENCES

[ 1] Achieving Excellence in Human Resources Management: An Assessment

of Human Resource Functions Edward E. Lawler Iii; John W. Boudreau.
Stanford Business Books, 2009.
[2] Understanding Human Resource Management Ken N. Kamoche. Open
University Press, 2001
[3] Organizational Success through Effective Human Resources Management
Ronald R. Sims. Quorum Books, 2002
[4] Apparel & Textiles Industry Employment by Business Type, U.S.: 2008-
2013 [5] Fashion Supply Chain Management: Industry and Business
Analysis. Tsan Ming Choi.
[6] Lyn M. Fraser –“Understanding financial statement” – (Ed-5th )
[7] Ross Wester field Jordan-“Fundamentals of Corporate finance” – (Ed-5th )
[8] Bodie * Kane * Marcus “Investment” – (Ed-5th )
[9] Richard Pike * Bill Neale “Corporate Finance & Investment” - (Ed-5th )
[10] Rose “Money and Capital Markets” –(Ed-6th )
[11] Choudhury, Dr. T.A. Modes of Payment in International Trade, Reading
Materials on International Trade & Finance (E- 102), BIBM, 2000.
[12] Kothari, C R, Research Methodology Methods & Techniques, (2nd Ed.).
New
Delhi, H. S. Poplai for Wishwa Prakashan

51
Appendices

1. CRC Forms

A) Joining report

B) Progress Report

C) Feedback Form

D) Completion Certificate from Company

2. Filled Feedback form by guide

3. Plage Report

4. Geotag photograph with the project guide

52
53
54