Posted on 16th Nov 2024 01:16:19 AM Accounting
What is Internship?
Internship means practical training through attending the particular work physically. Practical training means a way through which a person or a trainee can gather experience about the related subject practically and be able to apply his theoretical experience in the field of real life action. Practical training paves the way for gaining practical knowledge through activities other than reading textbooks and attending formal academic courses. Practical training is necessary to achieve complete knowledge about something. Internship program is actually a form of practical training. I firmly believe, practical training can open the inner eyes of a man. The works conducted during the Internship Program will expand the horizon of our practical knowledge.
According to Mr. Green “Standard methods taken for searching knowledge are meant internship.”
For the students of MBA of the Department of Accounting & Information Systems internship is an academic requirement. For the internship every student is required to work in a selected institution to enhance his practical experiences. The internship is managed and supervised by a supervisor who is a teacher of the department.
For my internship, I was sent to the ASA under the supervision of ABC, Professor, Department of Accounting & Information Systems, University of XYZ. My topic was "Micro-Credit Financing of ASA." I have done my internship in ASA from 18th December to 10th January 2007.
Importance of Internship
Internship program, in Accounting especially is of great importance and significance under the circumstances of the present competitive state of the business world. Business strategies are in a continuous flux. Internship prepares an intern for this highly fluid situation. Its importance is gradually increasing due to the development and expansion of industries. Industries are the main elements of production and supply of consumer goods; Business industries need highly skilled personnel for proper functioning. Internship prepares the trainee for the tough job conditions and future challenges of business activities. The trainee learns how to adapt himself in situations quickly and how to work in a team environment. Internship increases the interpersonal communicative skill of the trainee as it opens in front of him a panorama towards the functioning of corporate institutions. In addition internship helps a trainee to fulfill his practical knowledge and makes him fit for important jobs.
Objectives of Internship
The objective of internship incorporates so many things. To be specific, the objectives of the internship program undertaken by the Department of Accounting & Information Systems, University of XYZ is as follows:
1) It helps the trainee to know the institution as a national organization contributing to the economic development of the country.
2) It provides the opportunity for the trainee to see how the theories he learnt from academic lessons are applied in the practice of real life.
3) It helps him evaluate the relationship existing among cost, volume and profit of the selected institution.
4) It teaches the trainee to be able to identify various problems of the institution and ways of solving them.
5) It prepares the trainee for the future challenges of modern business world.
Limitation of Internship Program
In internship training, I have faced some problems, which may be termed as the limitations. They are as follows:
· To get clear knowledge is any field we required sufficient time. I get only seven days for internship training, this time is not sufficient to acquire data from field during the study period, Due to shortage of time, I could not go into depth.
· Collected information was not adequate. Some key figure regarding cost structure and overdue sundry debtors where not available for certain years.
· The internship is mainly based on published annual report. But for the preparation of the report, we cannot get sufficient official data.
· Since, we are students, so we have no depth knowledge and experience in preparing report.
· This is the first research of my life; that is why my knowledge in this field is not enough to prepare the report.
Introduction
ASA is a non-government organization organized by Md. Shafiqual Haque Chowdhury, founder and president of ASA in 1978. Now ASA is the most popular service provider dedicated to poverty alleviation. But ASA started its operation as an advisor of the poor people at the beginning. Now ASA is working for lifting up the standard of life of the people living at grass root level.
ASA’s successes are co-operation of its members, staffs sincerity, simple methodology, transparent and innovative management. ASA is the only NGO in the world which is liable with less default loans and the organization is conducting its operation without government aid or foreign donation.
ASA is the biggest micro-finance organization in the world which covers 5.6 million members.
Every organization must have one or more goals and objectives ASA non-government organization is not an exception to this rule.
Goal
To pose ASA as an independent and practical organization bringing the common people of Bangladesh under the scope of an organizational structure and providing them certain financial assistance.
ASA started its voyage in 1978 for the purpose of organizing in establishing the right of disadvantaged people.
ASA changed the motto of its own in 1991. ASA initiated its program for poverty alleviation through small loan.
ASA is the biggest and internationally well reputed non-government organization in the world. Its main major operation is to provide diversified and flexible financial services for the poor.
All the activities performed by ASA are pertinent to micro credit loans provided to the people of grass roots level.
However the following activities are performed by ASA:
1. To recover the loans provided.
2. To provide social services in the time of natural disasters.
3. To run the program like life insurance.
4. To provide health & safety facilities.
5. To extend financial assistance in hard times like food and Monga.
6. To extend support to the development of poor children’s education.
7. To support the hardcore poor to be free from the clutches of poverty.
Every organization must have a structure that will show the no. of employees & officials and their status from the top to the bottom of the organization.
The number of employees of ASA (up to September, 2005) is 14035, and total no. of branches 2,233 (up to September, 2005).
Key Characteristics of Operational System
1. Management decentralized to branch level.
2. Innovative recruitment training.
3. Standardized and rapid client identification procedure.
4. Simple and cost effective standardized branch structure.
5. Simple and standardized accounting and record keeping procedure.
6. Mid level staff based at regular branches no separate office or secretarial staff.
7. Comprehensive and detailed ASA Manual.
Objective of the Study
The foremost objective of the study is to know about “Micro-credit Financing of ASA, Rajshahi Sadar Branch, Rajshahi”. The goal of the study is to interpret and analyze the micro-credit financing activities of Rajshahi Sadar Branch, Rajshahi.
To attain the objectives the study is to consider the following:
a) To focus on the micro-credit finance activities of Sadar branch-1 of Rajshahi.
b) To detect the problems encountered in case of micro-credit financing.
c) To know about the measures those are taken in order to solve the problems.
d) To know the loan recovery system of the branch.
e) To get information about “Loan management” of the branch.
f) To know how many people are getting loan advantages of the branch?
g) To evaluate the total activities performed by the branch.
Methodology of the Study
“Micro-credit financing” is such an important topic at present day world that it should be interpreted and analyzed intensively. Considering the significance of the topic I have tried my best to pose all the relevant information available to me.
Both the quantitative and analytical data have been added to my discussion.
I have discussed the overall activities along with micro credit financing of the branch.
ASA-Pride of Bangladesh
Mr. Badar Uddin Ahmed Kamran, Mayor, Sylhet City Corporation, in a ceremony arranged by the ASA Sylhet Office on 16th January 2006, has said “ASA is a self-reliant institution and does not accept foreign aid. The achievement of ASA has brought pride and respect, at the cost of its services, for Bangladesh from all over the world.”
Microcredit Ensured a Special Place for BD Worldwide
Mirza Fakrul Islam Alamgir, Ex MP, State Minister of Civil Aviation and Tourism on the occasion of inaugurating ASA’s branch in Thakurgoan District on 26th January, has said “Micro credit has given a special identity to Bangladesh worldwide. Bangladesh is, at present, not known as the country of poverty and natural calamities, but it is well known as the pioneer of micro credit.”
Bangladesh’s Microcredit Industry is Acclaimed Globally as ASA
Praful C Patal is South Asia Regional Vice-President, the World Bank has said, “While new services are developed it is essential for MFIs to remain cost-effective micro credit delivery model is another reason why Bangladesh’s micro credit industry is acclaimed globally”
ASA Corporate Client of Grameen Phone
ASA has signed an agreement with Grameen Phone as corporate consumer client. Through this agreement ASA has become the corporate client of Grameen Phone since July 1, 2005. With this the cost of telecommunication of the organization has been minimized remarkably.
ASA-Free From Politics & Donor’s Fund
Dr. M. Osman Faruque, Ex Minister of education of the Govt. of Bangladesh on the occasion of inauguration of branch office at Gujadia Bazar in Karimganj Thana of Kishoreganj district has said that, poverty alleviation is possible through the effort of standing on ones owned feet without extending hands to others for developing one’s own fate.
He added, ASA is a good organization and it does not take foreign fund and it is also not involved in politics.
Organization can be Successful Following ASA Methodology
A loan disbursement and discussion meeting organized by ASA-Dhaka district was held at Tejgaon college to Textile Technology Auditorium in Dhaka on 4 September 2005. Alhaj Md. Mosaddeque Ali, Ex Mp of Dhaka 10 constituency, was present in the meeting as the chief guest. Md. Shafiqual Haque Choudhury, the founder and president of ASA, presided over the discussion meeting. The chief guest appreciated ASA’s code of quality must succeed. He also assured cooperation to the activities of the organization. In his presidential speech, Md. Shafiqual Haque Choudhury told that ASA has attained the top place among the MF is in the world due to following the simple and easy, hassle free and low costs principles. He also commented that if our government follow ASA’s principles, the foreign aids will not be required.
In the General meeting 2005 it is said that ASA will covers 6.34 million members during next year. ASA’s target of loan disbursement during next the year is TK. [45183] million. ASA provides disbursified & flexible financial services for the poor. ASA can face the unavoidable situation with its reserve fund amount of TK. 60 crore.
Non Government Sector Can Bring a Positive Change in the Country
After liberation in 1971 several NGOs side the government began their work with a view to poverty alleviation and developing the standard of life for the common propel of the country. Though at first they provided relief assistance to the people suffered from natural calamity, gradually they expanded their program up to poverty reduction, education, health, social awareness, environment, democracy good governance etc. In this context ASA started its voyage in 1978. ASA initiated its program for poverty alleviation through small loan. By Last 14 tears (1991-2005) ASA succeeded in reaching its small financial services to about 4 million families most of whom could able to stand on their own feet. Up to this time 15 million poor people were provided with financial assistance through all the NGOs in Bangladesh. Naturally a question that comes here is how many people amongst them have got rid of the curse of poverty and how many people amongst them have got rid of the curse of poverty and how many people and families have attained financial solvency. In responding of this question it can be said that many poor people have been capable of making a positive change in their change in their position through using properly small loan. But there may be some people who are in doubt in this context. As for example, many of us think the meaning of making a man self-reliant is to bring him on the stage of middies that how many poor people have reached the stage of middle class or lower middle class with the help of small loan. NGOs provide loan of TK. 5,000 to TK. 7,000 to the poor people with which, by no means, a poor people can develop his position up to the lower middle class. If any poor man desires to ascend on the lower middle, he will need a lot of money which is not possible to provide for NGOs at all. It is not possible to raise the poor people up over night. This task will be done step by step through different stage. Providing Loans in different stages, NGOs have made the poor people development minded. Involving, especially the women, in the financial activities, NGOs have increased their (poor woman) power and dignity in the family as well as society.
These woman are changing the picture of their families involving themselves in different financial activities with talking loans from loans from NGOs. Different statistics say that the number of poor people has decreased satisfactorily on last 30 years. It is beyond doubt that NGOs have played vital roles behind this achievement.
Internship, Report, Microcredit, Financing, Association, Social, Advancement, ASA, Rajshahi, NGOs, Loan, Management, Disbursement, Donor, Foreign, Fund, Shafiqual, Haque, Chowdhury, Founder, President
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