This document is a summer internship project report submitted by Devashree Nadkarni to Christ University Institute of Management in partial fulfillment of an MBA degree. The report declares that the study was conducted under the guidance of Dr. V. Prabhu Dev on the topic of "A Study of E-Payments: Proceeds and Improvements at Hindustan Petroleum Corporation Limited." The report includes an acknowledgement, executive summary, table of contents, and sections covering the petroleum industry overview, major players in India including HPCL, e-payment processes, vendor/employee payments, benefits, and conclusions.
Capital structure Analysis of Indian Oil Corporation Limited (IOCL)Kangkan Deka
The document discusses the capital structure analysis of Indian Oil Corporation Limited (IOCL). It provides background information on IOCL, describing it as India's largest company by sales. The document outlines IOCL's vision, mission and values. It then discusses the methodology used for the capital structure analysis, which involves analyzing data from IOCL's annual reports. Various components of IOCL's capital structure are examined, including share capital, paid-up capital, long-term debt and leverage ratios.
This document provides information about Indian Oil Corporation Limited (IOCL), India's largest commercial enterprise. It discusses IOCL's history, vision, mission, values, operations, and financial performance for 2016-2017. Some key details include:
- IOCL was formed in 1964 through the merger of two public sector companies and today has a network spanning the country.
- Its vision is to be a major diversified, trans-national energy company playing a role in India's oil security and public distribution.
- In 2016-2017, IOCL had sales of Rs. 4,38,710 crore and profits of Rs. 19,106 crore.
- It owns and operates 11 of India
A study on customer satisfaction towards honda activaHardik Ranpariya
This document provides a literature review on customer relationship management (CRM) strategies in the automobile industry, specifically related to Honda Motors. It discusses how Honda uses a customer loyalty program called Good Life Passport to build relationships. It also describes Honda's CRM and dealer management system for integrating sales across 1200 dealers in India. The literature highlights the importance of having the right product, distribution, CRM, and after-sales service to compete in the automobile sector. Overall, the review examines how Honda and other companies like Hero MotoCorp, Caterpillar, and Bajaj Auto use CRM to improve customer value, service, and brand differentiation.
This document is a project report submitted by Kangkan Deka to Pondicherry University for a Master's degree in Business Administration. The project analyzes the financial performance of Indian Oil Corporation Limited over four years from 2010-11 to 2013-14. Various financial analysis tools such as ratio analysis, DuPont analysis, liquidity tests, and trend analysis are used to assess the company's profitability, liquidity, leverage, and overall financial position. The report includes an introduction to Indian Oil Corporation and its operations as well as the research methodology used in the study.
MBA marketing (summer internship report)MANUJ SINGH
The document is a marketing internship report submitted by Manuj Singh to Dr. Sanjeev Arora at Graphic Era University in Dehradun, India. The report focuses on the marketing strategies of Mahindra & Mahindra, an Indian automaker, with special reference to their SUV model Mahindra Scorpio. The report includes sections on the company profile, milestone achievements, product profiles of various Mahindra vehicles, research methodology used in the study, data analysis and findings on marketing strategies.
details of NFL, sources of cash management at NFL, Investment procedure in NFL, working capital management in NFL, SWOT Analysis, sip report , history of NFL, legal process by NFL, Details of finance and accounts department of NFL.
This document is a summer training report submitted by Amrinder Singh, an MBA student at Surajmal College of Engineering and Management, for their internship at Axis Bank. The report includes declarations by the student and faculty guide, acknowledgements, preface, and outlines of upcoming chapters which will cover the introduction, literature review, company profile of Axis Bank, training and development practices at Axis Bank, research methodology, data analysis, findings, suggestions and conclusions.
Capital structure Analysis of Indian Oil Corporation Limited (IOCL)Kangkan Deka
The document discusses the capital structure analysis of Indian Oil Corporation Limited (IOCL). It provides background information on IOCL, describing it as India's largest company by sales. The document outlines IOCL's vision, mission and values. It then discusses the methodology used for the capital structure analysis, which involves analyzing data from IOCL's annual reports. Various components of IOCL's capital structure are examined, including share capital, paid-up capital, long-term debt and leverage ratios.
This document provides information about Indian Oil Corporation Limited (IOCL), India's largest commercial enterprise. It discusses IOCL's history, vision, mission, values, operations, and financial performance for 2016-2017. Some key details include:
- IOCL was formed in 1964 through the merger of two public sector companies and today has a network spanning the country.
- Its vision is to be a major diversified, trans-national energy company playing a role in India's oil security and public distribution.
- In 2016-2017, IOCL had sales of Rs. 4,38,710 crore and profits of Rs. 19,106 crore.
- It owns and operates 11 of India
A study on customer satisfaction towards honda activaHardik Ranpariya
This document provides a literature review on customer relationship management (CRM) strategies in the automobile industry, specifically related to Honda Motors. It discusses how Honda uses a customer loyalty program called Good Life Passport to build relationships. It also describes Honda's CRM and dealer management system for integrating sales across 1200 dealers in India. The literature highlights the importance of having the right product, distribution, CRM, and after-sales service to compete in the automobile sector. Overall, the review examines how Honda and other companies like Hero MotoCorp, Caterpillar, and Bajaj Auto use CRM to improve customer value, service, and brand differentiation.
This document is a project report submitted by Kangkan Deka to Pondicherry University for a Master's degree in Business Administration. The project analyzes the financial performance of Indian Oil Corporation Limited over four years from 2010-11 to 2013-14. Various financial analysis tools such as ratio analysis, DuPont analysis, liquidity tests, and trend analysis are used to assess the company's profitability, liquidity, leverage, and overall financial position. The report includes an introduction to Indian Oil Corporation and its operations as well as the research methodology used in the study.
MBA marketing (summer internship report)MANUJ SINGH
The document is a marketing internship report submitted by Manuj Singh to Dr. Sanjeev Arora at Graphic Era University in Dehradun, India. The report focuses on the marketing strategies of Mahindra & Mahindra, an Indian automaker, with special reference to their SUV model Mahindra Scorpio. The report includes sections on the company profile, milestone achievements, product profiles of various Mahindra vehicles, research methodology used in the study, data analysis and findings on marketing strategies.
details of NFL, sources of cash management at NFL, Investment procedure in NFL, working capital management in NFL, SWOT Analysis, sip report , history of NFL, legal process by NFL, Details of finance and accounts department of NFL.
This document is a summer training report submitted by Amrinder Singh, an MBA student at Surajmal College of Engineering and Management, for their internship at Axis Bank. The report includes declarations by the student and faculty guide, acknowledgements, preface, and outlines of upcoming chapters which will cover the introduction, literature review, company profile of Axis Bank, training and development practices at Axis Bank, research methodology, data analysis, findings, suggestions and conclusions.
Here are the key points from the literature review:
- Ratio analysis has been used as a financial analysis tool for over a century, with major developments in the 19th century.
- In the 19th century, more ratios were developed compared to earlier periods. Proper ratio criteria also emerged, such as the current ratio criterion.
- Analysts recognized the need for inter-firm comparisons, leading to the development of relative ratio criteria.
- While ratio analysis has been used for a long time, the literature suggests there is still room for improvements and new developments in its application and methodology.
The document is a summer internship project report on studying the sales process of advertising at Grok Communications LLP. It includes an abstract, executive summary, literature review on related research papers, and chapters on the advertising industry profile, company profile, different advertising mediums, objectives of the study, methodology, implementation of the SPANCO sales process, findings, recommendations, and conclusion. The intern aims to analyze Grok Communication's client acquisition process and tools, understand the functions of the client servicing team, and examine how campaign ideas are designed for clients.
This document is a study on customer satisfaction towards products and services of Axis Bank in Chennai, India. It was submitted by Vijendra Kumar in partial fulfillment of the requirements for a Master's degree in Business Administration at Sathyabama University under the guidance of Krishna Priya. The study examines customer satisfaction with Axis Bank's products and services and provides a comparison with other banks. It includes chapters on the company profile, literature review, research methodology, data analysis, findings, suggestions, and conclusions.
This document provides an overview of a project on the HR practices of Hindustan Unilever. It includes an executive summary that outlines the purpose of studying HUL's HR policies and processes. It then provides a brief company profile of HUL and introduces the various HR practices implemented, which are then explored in more detail in subsequent chapters. These HR practices covered include recruitment and selection, performance management, training and development, compensation, and employee engagement. The document aims to gain knowledge on how HUL approaches and carries out its HR functions.
Indian Oil Corporation (IOC) is India's largest company by revenue and market share. It has a network of over 17,600 retail outlets across India selling petroleum products under various brands like Xtra Premium petrol and Xtra Mile diesel. IOC also sells other energy products like cooking gas (Indane), lubricants (Servo), and has launched loyalty programs like Xtra Power Fleet Card to build customer loyalty. The document provides an overview of IOC's operations, market share, brands and products.
SIP REPORT Capital Structure Analysis Of Indian Oil Corporation Limitedzeeshan ali khan
The document is a summer training report submitted by Zeeshan Ali Khan on capital structure analysis of Indian Oil Corporation Limited (IOCL) at their Kanpur bottling plant location. It includes declarations by the student and faculty mentor certifying that the report is the student's original work. It also includes an acknowledgements section thanking various individuals who provided assistance and support. The table of contents outlines that the report will cover an introduction, company profile, research methodology, data analysis and interpretation, conclusions and recommendations.
Project Report on Financial Analysis by Nirbhay Kumar, MBA - 3rd Sem.,TMBU,B...Nirbhay Kumar
The document appears to be a summer internship report submitted by a student named Nirbhay Kumar to the National Thermal Power Corporation (NTPC) in India analyzing the financial performance of NTPC from 2012-2016. The report includes an executive summary of the financial analysis, ratios calculated, findings, and recommendations to improve NTPC's profitability and financial position based on the financial statements over the period studied.
This document provides an overview of a study on working capital management conducted at Sejal Glass Limited. It includes:
1) An introduction outlining the purpose and scope of the study, as well as acknowledgements of those who guided the project.
2) A table of contents listing the different chapters covering topics such as the company profile, data analysis, findings, and conclusion.
3) Background information on working capital management, including definitions, objectives, and the operating cycle.
The document appears to be a student project report analyzing working capital practices at Sejal Glass Limited in order to make recommendations for improvement.
MBA Internship Project Report on Byju's by Sibananda Sahu Sibananda Sahu
Internship Project Report Submitted to Department of Business Administration Berhampur University for the partial fulfilment of the requirement for the Degree in
Master of Business Administration
#MBA
Under The Supervision of
Dr.Sunil Kumar Pradhan, Assistant Profesor - Marketing
Mr.Sanatan Podili , Manager - Marketing
Ms.Gayatri Kindo , Assistant Manager - Marketing
Title- Market Research for Curriculum Sequence at BYJU'S
This project report compromise of
CUSTOMERS VIEWS ON PRESENT PRICE DIFFERENCE BETWEEN MS AND XP.
STRENGTH IN THE BRANDED MS WHICH MAKES THE CUSTOMER USE THE SAME.
STUDY ON THE POSITIONING OF XP IN RO’S.
PROFILE OF XP USERS.
THE INCENTIVE STRATEGY FOR XP USERS.
SYNERGY BETWEEN XTRAPREMIUM AND XTRAREWARD PROGRAMME.
Project report on customer satisfactionAnkit Gupta
The document discusses customer satisfaction and techniques for measuring it. It provides an overview of why organizations focus on customer satisfaction, noting that satisfied customers improve cash flow and are less costly to retain than gaining new customers. The document also summarizes various techniques for measuring customer satisfaction, including through surveys, the Kano model, and SERVQUAL. It emphasizes that measuring customer satisfaction can provide insights into how well an organization is meeting customer needs and expectations.
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIAM Diable
This document provides a final project report on the financial analysis of Dabur and Britannia. It includes an introduction, literature review on ratio analysis and financial ratios, company profiles of Dabur and Britannia, research methodology, analysis and interpretation of financial ratios, and recommendations and conclusions. The analysis examines the liquidity, activity, leverage and profitability ratios of both companies over three years to evaluate their financial performance and position. Key findings and suggestions for improvement are also provided.
This document appears to be a summer training report submitted by a student named Aparna Sharma to fulfill requirements for an MBA degree. The report focuses on assessing customer satisfaction at Sri Krishna Rolling Mills Ltd. in Jaipur, India. It includes chapters on the company profile, research methodology used in the study, data analysis and interpretation of findings, and conclusions. The research methodology discusses objectives of studying factors influencing customer purchase decisions and satisfaction levels. A sample of 35 current and past customers in Jaipur was used to collect primary data through random and stratified sampling.
This document contains a list of 133 potential MBA project topics. The topics cover a wide range of business subjects including marketing, finance, human resources, operations management, and more. Some of the topics listed include customer satisfaction studies, investment pattern analyses, brand analyses, capital structure analyses, and export/import procedures. The list provides students with many options for choosing an MBA project on an area of business that interests them.
Multidisciplinary action project reportHIMANI SONI
Pharmaceuticals are medicinally effective chemicals, which are converted to
dosage forms suitable for patients to imbibe. In its basic chemical form, pharmaceuticals
are called bulk drugs and the final dosage forms are known as formulations. Bulk drugs
are derived from 4 types of intermediates (raw material), namely:
Plant derivatives (herbal products)
Animal derivatives e.g. Insulin extracted from bovine pancreas.
Synthetic Chemicals.
Biogenetic (human) derivatives e.g. Human Insulin.
Doctors, post-diagnosis to cure a disease or disorder in the patient primarily
prescribes formulations. To prevent misuse/incorrect administration, most formulations
are disbursed by pharmacies only under medical prescription and these are called ethical
products.
This document provides information about a project report submitted by Srabani Dutta for their MBA degree. The 3-page document includes a title page, student and guide declarations, and table of contents. It outlines that the report is a study on ratio analysis of Eastern Coalfield Limited conducted under the supervision of faculty and industry guides. The document also acknowledges contributions and provides certifications from the examiner and guides.
This document is a project report submitted by Mitesh Ghiya to the University of Rajasthan in partial fulfillment of a Bachelor of Business Administration degree. The report provides a financial overview of the telecom sector in India, with a focus on Bharat Sanchar Nigam Limited (BSNL). The report includes sections on financial analysis, BSNL's profile, research methodology, a SWOT analysis, conclusions, and suggestions. Mitesh Ghiya conducted the project under the guidance of Dr. Dileep Singh to analyze BSNL's financial performance and strategies in the competitive telecom industry.
A project report on comparative study of bajaj and hero hondaProjects Kart
The document provides an introduction and background information on Bajaj Auto Limited and Hero Honda Motorcycles Limited, two major Indian motorcycle manufacturers. It discusses the founding and history of both companies. Bajaj Auto was established in 1945 and initially imported two-wheelers before beginning domestic production in 1959. Hero Honda was formed in 1984 through a joint venture between Hero Cycles of India and Honda of Japan. The document outlines some of the popular models produced by each company over the years and provides key details like headquarters, revenue, and management.
This document provides a summary of a summer training report for an MBA program. It discusses a summer training project conducted at HDFC Bank in Bhavnagar, India. The first few pages provide background information on HDFC Bank and banking in India. It then outlines the report's contents which will cover organizational structure, products, services, marketing, finance, HR, data analysis, findings, recommendations and conclusions from the training project.
Project Report on Study Of BPO HR ConsultancyKumari Swati
The mission of Corpgen is to be the world's best at helping employers achieve success through people by delivering value, advice and expertise at each step of the relationship with clients and candidates. They aim to accomplish this through seven core principles - having no ego, getting placements right, leading by example, valuing loyalty, supporting goal achievement, caring for employees, and maintaining a fun work environment. Corpgen's strategy guarantees to understand candidates' needs, refer genuine positions, maintain confidentiality, provide career guidance, introduce unadvertised opportunities, offer resume advice, and discuss unconsidered job areas - with the benefits of their services including no candidate fees and market awareness beyond advertised roles.
Here are the key points from the literature review:
- Ratio analysis has been used as a financial analysis tool for over a century, with major developments in the 19th century.
- In the 19th century, more ratios were developed compared to earlier periods. Proper ratio criteria also emerged, such as the current ratio criterion.
- Analysts recognized the need for inter-firm comparisons, leading to the development of relative ratio criteria.
- While ratio analysis has been used for a long time, the literature suggests there is still room for improvements and new developments in its application and methodology.
The document is a summer internship project report on studying the sales process of advertising at Grok Communications LLP. It includes an abstract, executive summary, literature review on related research papers, and chapters on the advertising industry profile, company profile, different advertising mediums, objectives of the study, methodology, implementation of the SPANCO sales process, findings, recommendations, and conclusion. The intern aims to analyze Grok Communication's client acquisition process and tools, understand the functions of the client servicing team, and examine how campaign ideas are designed for clients.
This document is a study on customer satisfaction towards products and services of Axis Bank in Chennai, India. It was submitted by Vijendra Kumar in partial fulfillment of the requirements for a Master's degree in Business Administration at Sathyabama University under the guidance of Krishna Priya. The study examines customer satisfaction with Axis Bank's products and services and provides a comparison with other banks. It includes chapters on the company profile, literature review, research methodology, data analysis, findings, suggestions, and conclusions.
This document provides an overview of a project on the HR practices of Hindustan Unilever. It includes an executive summary that outlines the purpose of studying HUL's HR policies and processes. It then provides a brief company profile of HUL and introduces the various HR practices implemented, which are then explored in more detail in subsequent chapters. These HR practices covered include recruitment and selection, performance management, training and development, compensation, and employee engagement. The document aims to gain knowledge on how HUL approaches and carries out its HR functions.
Indian Oil Corporation (IOC) is India's largest company by revenue and market share. It has a network of over 17,600 retail outlets across India selling petroleum products under various brands like Xtra Premium petrol and Xtra Mile diesel. IOC also sells other energy products like cooking gas (Indane), lubricants (Servo), and has launched loyalty programs like Xtra Power Fleet Card to build customer loyalty. The document provides an overview of IOC's operations, market share, brands and products.
SIP REPORT Capital Structure Analysis Of Indian Oil Corporation Limitedzeeshan ali khan
The document is a summer training report submitted by Zeeshan Ali Khan on capital structure analysis of Indian Oil Corporation Limited (IOCL) at their Kanpur bottling plant location. It includes declarations by the student and faculty mentor certifying that the report is the student's original work. It also includes an acknowledgements section thanking various individuals who provided assistance and support. The table of contents outlines that the report will cover an introduction, company profile, research methodology, data analysis and interpretation, conclusions and recommendations.
Project Report on Financial Analysis by Nirbhay Kumar, MBA - 3rd Sem.,TMBU,B...Nirbhay Kumar
The document appears to be a summer internship report submitted by a student named Nirbhay Kumar to the National Thermal Power Corporation (NTPC) in India analyzing the financial performance of NTPC from 2012-2016. The report includes an executive summary of the financial analysis, ratios calculated, findings, and recommendations to improve NTPC's profitability and financial position based on the financial statements over the period studied.
This document provides an overview of a study on working capital management conducted at Sejal Glass Limited. It includes:
1) An introduction outlining the purpose and scope of the study, as well as acknowledgements of those who guided the project.
2) A table of contents listing the different chapters covering topics such as the company profile, data analysis, findings, and conclusion.
3) Background information on working capital management, including definitions, objectives, and the operating cycle.
The document appears to be a student project report analyzing working capital practices at Sejal Glass Limited in order to make recommendations for improvement.
MBA Internship Project Report on Byju's by Sibananda Sahu Sibananda Sahu
Internship Project Report Submitted to Department of Business Administration Berhampur University for the partial fulfilment of the requirement for the Degree in
Master of Business Administration
#MBA
Under The Supervision of
Dr.Sunil Kumar Pradhan, Assistant Profesor - Marketing
Mr.Sanatan Podili , Manager - Marketing
Ms.Gayatri Kindo , Assistant Manager - Marketing
Title- Market Research for Curriculum Sequence at BYJU'S
This project report compromise of
CUSTOMERS VIEWS ON PRESENT PRICE DIFFERENCE BETWEEN MS AND XP.
STRENGTH IN THE BRANDED MS WHICH MAKES THE CUSTOMER USE THE SAME.
STUDY ON THE POSITIONING OF XP IN RO’S.
PROFILE OF XP USERS.
THE INCENTIVE STRATEGY FOR XP USERS.
SYNERGY BETWEEN XTRAPREMIUM AND XTRAREWARD PROGRAMME.
Project report on customer satisfactionAnkit Gupta
The document discusses customer satisfaction and techniques for measuring it. It provides an overview of why organizations focus on customer satisfaction, noting that satisfied customers improve cash flow and are less costly to retain than gaining new customers. The document also summarizes various techniques for measuring customer satisfaction, including through surveys, the Kano model, and SERVQUAL. It emphasizes that measuring customer satisfaction can provide insights into how well an organization is meeting customer needs and expectations.
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIAM Diable
This document provides a final project report on the financial analysis of Dabur and Britannia. It includes an introduction, literature review on ratio analysis and financial ratios, company profiles of Dabur and Britannia, research methodology, analysis and interpretation of financial ratios, and recommendations and conclusions. The analysis examines the liquidity, activity, leverage and profitability ratios of both companies over three years to evaluate their financial performance and position. Key findings and suggestions for improvement are also provided.
This document appears to be a summer training report submitted by a student named Aparna Sharma to fulfill requirements for an MBA degree. The report focuses on assessing customer satisfaction at Sri Krishna Rolling Mills Ltd. in Jaipur, India. It includes chapters on the company profile, research methodology used in the study, data analysis and interpretation of findings, and conclusions. The research methodology discusses objectives of studying factors influencing customer purchase decisions and satisfaction levels. A sample of 35 current and past customers in Jaipur was used to collect primary data through random and stratified sampling.
This document contains a list of 133 potential MBA project topics. The topics cover a wide range of business subjects including marketing, finance, human resources, operations management, and more. Some of the topics listed include customer satisfaction studies, investment pattern analyses, brand analyses, capital structure analyses, and export/import procedures. The list provides students with many options for choosing an MBA project on an area of business that interests them.
Multidisciplinary action project reportHIMANI SONI
Pharmaceuticals are medicinally effective chemicals, which are converted to
dosage forms suitable for patients to imbibe. In its basic chemical form, pharmaceuticals
are called bulk drugs and the final dosage forms are known as formulations. Bulk drugs
are derived from 4 types of intermediates (raw material), namely:
Plant derivatives (herbal products)
Animal derivatives e.g. Insulin extracted from bovine pancreas.
Synthetic Chemicals.
Biogenetic (human) derivatives e.g. Human Insulin.
Doctors, post-diagnosis to cure a disease or disorder in the patient primarily
prescribes formulations. To prevent misuse/incorrect administration, most formulations
are disbursed by pharmacies only under medical prescription and these are called ethical
products.
This document provides information about a project report submitted by Srabani Dutta for their MBA degree. The 3-page document includes a title page, student and guide declarations, and table of contents. It outlines that the report is a study on ratio analysis of Eastern Coalfield Limited conducted under the supervision of faculty and industry guides. The document also acknowledges contributions and provides certifications from the examiner and guides.
This document is a project report submitted by Mitesh Ghiya to the University of Rajasthan in partial fulfillment of a Bachelor of Business Administration degree. The report provides a financial overview of the telecom sector in India, with a focus on Bharat Sanchar Nigam Limited (BSNL). The report includes sections on financial analysis, BSNL's profile, research methodology, a SWOT analysis, conclusions, and suggestions. Mitesh Ghiya conducted the project under the guidance of Dr. Dileep Singh to analyze BSNL's financial performance and strategies in the competitive telecom industry.
A project report on comparative study of bajaj and hero hondaProjects Kart
The document provides an introduction and background information on Bajaj Auto Limited and Hero Honda Motorcycles Limited, two major Indian motorcycle manufacturers. It discusses the founding and history of both companies. Bajaj Auto was established in 1945 and initially imported two-wheelers before beginning domestic production in 1959. Hero Honda was formed in 1984 through a joint venture between Hero Cycles of India and Honda of Japan. The document outlines some of the popular models produced by each company over the years and provides key details like headquarters, revenue, and management.
This document provides a summary of a summer training report for an MBA program. It discusses a summer training project conducted at HDFC Bank in Bhavnagar, India. The first few pages provide background information on HDFC Bank and banking in India. It then outlines the report's contents which will cover organizational structure, products, services, marketing, finance, HR, data analysis, findings, recommendations and conclusions from the training project.
Project Report on Study Of BPO HR ConsultancyKumari Swati
The mission of Corpgen is to be the world's best at helping employers achieve success through people by delivering value, advice and expertise at each step of the relationship with clients and candidates. They aim to accomplish this through seven core principles - having no ego, getting placements right, leading by example, valuing loyalty, supporting goal achievement, caring for employees, and maintaining a fun work environment. Corpgen's strategy guarantees to understand candidates' needs, refer genuine positions, maintain confidentiality, provide career guidance, introduce unadvertised opportunities, offer resume advice, and discuss unconsidered job areas - with the benefits of their services including no candidate fees and market awareness beyond advertised roles.
Este documento describe los cinco sentidos humanos principales: la vista, el oído, el olfato, el gusto y el tacto. Cada sentido se enumera en una línea separada con su nombre.
888810 educa a tus hijos con un poco de hambre y un poco de frío - (6)brayangnavarro
El documento habla sobre la importancia de educar a los hijos con un poco de hambre y frío para prepararlos para la realidad. Relata la historia triste de Pelé cuyo hijo se involucró con narcotraficantes debido a que Pelé estaba demasiado ocupado y no se dio cuenta de lo que pasaba. Argumenta que darles todo a los hijos sin educarlos bien puede formar niños malcriados que sufrirán consecuencias en el futuro.
SEEBURGER's Business Integration Suite (BIS) is a platform for integrating enterprise applications and exchanging data between diverse IT systems. BIS provides functionality for file transfer, data transformation, application integration and process automation to enable seamless data exchange. It allows organizations to connect applications from SAP, Oracle and other vendors for improved collaboration and business processes.
Este documento describe diferentes herramientas de evaluación como portafolios, pruebas y exámenes. Discute tipos de preguntas como completamiento, verdadero-falso, correspondencia y opción múltiple. También cubre categorías de comportamiento como conceptual, procedimental y actitudinal.
Este documento presenta los contenidos mínimos de Química de 2o Bachillerato según el currículo oficial, estructurados en seis unidades didácticas que cubren temas como la estructura y propiedades de las sustancias, termodinámica, cinética química, equilibrio químico y reacciones ácido-base. Además, incluye los criterios de evaluación y estándares de aprendizaje evaluables para cada unidad.
This document provides an overview of ONGC Ltd and summarizes the internship project. The internship involved studying ONGC's pricing mechanism and consolidating the financial statements of ONGC and its subsidiaries. ONGC is India's largest oil and gas exploration and production company. It operates in the upstream sector of the petroleum industry through oil and gas exploration and production. The internship provided insight into ONGC's operations including its exploration and production activities, subsidiaries, and the process of consolidating financial statements across the organization. The intern also analyzed ONGC's pricing mechanism and how various economic factors influence crude oil prices.
Based on the data provided, here is the analysis of IOCL's paid up capital from 2010-2014:
- The paid up capital remained constant at Rs. 2427.95 crore from 2013-2014, 2012-2013 and 2011-2012. This indicates that during these years, IOCL did not issue any additional shares to increase its paid up capital.
- In 2010-2011, the paid up capital was Rs. 1192 crore. This increased significantly to Rs. 2427.95 crore in the next year. This suggests that IOCL must have issued additional shares and increased its paid up share capital in 2011.
- Overall, the paid up capital increased over the years from Rs. 1192
Indian Oil Corporation (IOC) conducts regular training programs for its employees. To identify training needs, IOC uses a Training Need Identification (TNI) form that employees complete after each program. This project analyzed 237 TNI forms from 10 programs. The forms identify additional topics employees want covered in functional area training as well as ranking behavioral programs by priority. Topics and programs mentioned most frequently are prioritized for future training. The analysis helps IOC customize training to meet employees' professional development needs.
Hi Friends
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ANALYSIS OF FINANCIAL STATEMENT using technique of Ratio Analysis By Furkan K...Lisa Graves
This document is a project report on analyzing the financial statements of UltraTech Cement Ltd using ratio analysis. It was submitted by Furkan Y. Kamdar in partial fulfillment of an MBA program. The report provides an overview of the company, describes the methodology used to analyze UltraTech Cement's financial statements over five years, and presents the results of the ratio analysis. The ratios analyzed provide insights into the company's profitability, liquidity, leverage, and efficiency. The report concludes that ratio analysis is an important tool that can help management make strategic decisions.
Indian Oil Corporation Limited (IOCL) is India's largest commercial enterprise and the only Indian company in the Fortune Global 500 list. It was formed in 1964 through the merger of Indian Oil Company Limited and Indian Refineries Limited. IOCL owns and operates seven of India's 17 oil refineries and controls nearly 40% of the country's refining capacity. The report provides an overview of IOCL's history, products, corporate structure, mission, values and SWOT analysis. It also introduces Barauni Refinery, one of IOCL's refineries located in Bihar. The report aims to provide knowledge about IOCL's capital budgeting decisions through analyzing investment projects.
This document provides information about a summer internship project on capital budgeting conducted at Indian Oil Corporation Limited (IOCL) by Meena Akhilesh Kumar. It includes an introduction to IOCL, details about the internship, acknowledgements, an abstract summarizing the project, and a table of contents outlining the report sections. The internship involved analyzing IOCL's capital investment decisions and evaluating projects using financial tools like net present value and internal rate of return to determine the most profitable investments.
Financial services for fund based credit facility in the from of cash creditPritesh Radadiya
Nikul Shah & Associates is a sole proprietorship firm established in 1997 that provides financial services and arranges loans from banks. It has 10 employees led by director Nikul Shah. The company aims to understand clients' financial needs and deliver customized solutions through a team of accounting, finance, legal and banking experts. It arranges various types of individual, business and project loans from nationalized, private banks and non-banking financial institutions. The company strives to maintain high integrity and focus on client needs through innovative financing solutions.
This document is a project report submitted by Tanmay Kumar Chakrabarty for the partial fulfillment of the requirements for a Masters in Business Administration degree. The project conducts a comparative financial analysis of the top five oil and gas companies listed on the Bombay Stock Exchange over a five year period from 2011-2015. Various financial ratios will be used to analyze the profitability, liquidity, efficiency, and solvency of each company. The report includes an introduction, literature review, industry profile, research analysis and interpretation through financial ratios, findings, suggestions, and a conclusion. Secondary data from annual reports and company databases will be relied on for the study.
This document is a project report submitted by Tanmay Kumar Chakrabarty for a Masters in Business Administration degree. The report conducts a comparative financial analysis of the top five oil and gas companies listed on the Bombay Stock Exchange. It includes an introduction on the growth and uniqueness of the Indian oil and gas industry. The report contains chapters on literature review, industry profile, research analysis and interpretation of financial ratios, findings, suggestions, and conclusions. Financial ratios are used to analyze and compare the companies' profitability, assets management, efficiency, liquidity, and long-term solvency over a five-year period from 2011-2015.
This document is a project report submitted by Tanmay Kumar Chakrabarty for the partial fulfillment of the requirements for a Masters in Business Administration degree. The project conducts a comparative financial analysis of the top five oil and gas companies listed on the Bombay Stock Exchange over a five year period from 2011-2015. Various financial ratios will be used to analyze the profitability, liquidity, efficiency, and solvency of each company. The report includes an introduction, literature review, industry profile, research analysis and interpretation through financial ratios, findings, suggestions, and a conclusion. Secondary data from annual reports and company databases will be the main sources used for the study.
This document is a project report submitted by Tanmay Kumar Chakrabarty in partial fulfillment of the requirements for a Masters in Business Administration degree. The report conducts a comparative financial analysis of the top five oil and gas companies listed on the Bombay Stock Exchange over a five year period from 2011-2015. Various financial ratios are used to analyze the profitability, liquidity, efficiency, and solvency of each company. The introductory chapter provides background on the Indian oil and gas industry and outlines the objectives, methodology, and limitations of the study.
This document provides an overview of Indian Oil Corporation Ltd (IOCL), India's largest company by sales. It discusses IOCL's vision, mission, values and objectives which center around serving national oil security, maximizing stakeholder value, attaining technological leadership, and enriching communities. The document also outlines IOCL's organizational structure and subsidiaries. It provides background on IOCL's formation, size and market share in India's petroleum products market.
This document provides an overview of Indian Oil Corporation Limited (IOCL). It discusses that IOCL is India's largest national oil company, operating across the hydrocarbon value chain from refining to marketing of petroleum products. IOCL owns and operates 10 of India's 19 refineries with a total refining capacity of 60.2 million metric tons per year. It has a 47% share in the Indian petroleum products market and a 40% share in domestic refining capacity. IOCL was formed in 1964 through the merger of Indian Oil Company Ltd. and Indian Refineries Ltd. and is fully owned by the Government of India.
The document is a certificate certifying that a project titled "WORKING CAPITAL MANAGEMENT" completed by a student is a bonafide work done under the guidance of faculty at Jawaharlal Nehru Technological University Hyderabad. It includes signatures of the head of the department, internal guide and external examiner certifying the project.
This document is a thesis submitted for the degree of Bachelor of Technology in Business Administration at VIT University. It examines the impact of customer satisfaction on business in a B2B context. The thesis includes an introduction outlining the objectives, motivation and background of the study. It provides context on the chemical industry globally and in India, and details about the company Enviros India. It also reviews relevant literature on topics like B2B marketing strategies, value co-creation, trust in global B2B services, and challenges of marketing in a global context.
This document provides an overview of the oil and gas industry in India. It discusses the history and growth of the industry since independence. It outlines the major segments of the industry including exploration, extraction, refining, transporting and marketing. It provides details of the major oil and gas companies operating in India such as ONGC, IOC, BPCL, HPCL and Reliance. It discusses the production, distribution and consumption of petroleum in India and highlights the key developments and establishment of refineries over the post-independence period. The document also covers availability, utilization, allocation and supply of natural gas in India.
Jibu hmt working capital management projectJIBU AB
This document provides background information on a study conducted on working capital management at HMT Machine Tools in Kalamassery. It includes an introduction, objectives of the study, scope of the study, and background on HMT Machine Tools and the machine tool industry in India and globally. The study was conducted by Jibu AB for their MBA program and aims to analyze the working capital position and financial performance of HMT Machine Tools from 2010-2014.
1. 1
“A Study of E-Payments: Proceeds and
Improvements at Hindustan Petroleum Corporation
Limited, Hindustan Bhavan, Mumbai”
Summer Intern Project report submitted in partial fulfilment of the
requirements for the degree of
Master of Business Administration
By
Devashree Nadkarni
1420740
Under the guidance of
Dr V. Prabhu Dev
Professor
Institute of Management
Christ University, Bangalore
Christ University Institute of Management
2015
2. 2
Declaration
I hereby declare that the Summer Intern Project report entitled “A Study of E-Payments:
Proceeds and Improvements at Hindustan Petroleum Corporation Limited, Hindustan Bhavan,
Mumbai” has been undertaken by me for the award of Master of Business Administration. I have
completed this study under the guidance of Dr V. Prabhu Dev.
I also declare that this Summer Intern Project report has not been submitted for the award of any
degree, Diploma, Associate ship, Fellowship or any other title, in Christ University or in any
other University.
Place: Bangalore Signature of the candidate
Date: ( )
3. 3
Certificate
This is to certify that the Summer Intern Project report submitted by Devashree Nadkarni
on the title “A Study of E-Payments: Proceeds and Improvements at Hindustan Petroleum
Corporation Limited, Hindustan Bhavan, Mumbai” is a record of summer intern project work
done by her during the academic year 2014-2015 under my guidance and supervision in partial
fulfilment of Master of Business Administration.
Place: Bangalore Signature of the Guide
Date: Dr V. Prabhu Dev
Professor
Institute of Management
Christ University
Bangalore
4. 4
ACKNOWLEDGEMENT
It gives me immense pleasure to present the report of Summer Internship Project which is
integral part of MBA program at Institute of Management, Christ University, and Bengaluru. I
consider it an honored privilege to have undergone this Internship in Hindustan Petroleum
Corporation Limited.
This Training period has enriched me with valuable experience & the practical knowledge of
Industry with special emphasis on knowledge building and people management skills. This
training period has provided me with the best opportunity to put my theoretical management
knowledge to its practical use. During my training I worked with some highly knowledgeable
and enthusiastic people, without mentioning their names I could not conclude this report.
First, I would like to express my sincere gratitude towards Mrs. Dipika Malpekar – Sr. Manger
(Finance, Disbursement) for giving me the opportunity to work in this organization and for the
timely guidance, cognitive insights and constant source of inspiration provided to me to make it a
success.
I would like to thank Mr. P. R. Hedau – Manager (Finance), who all in spite of their busy
schedule has co-operated with me continuously and indeed, their valuable contribution and
guidance have been certainly indispensable for my project work.
I would also like to extend my sincere thanks and gratitude to Dr V. Prabhu Dev - Faculty Guide,
Institute of Management, Christ University, for assisting me in settling all the issues related to
this project. He has been of utmost help in all matters and has been extremely cooperative and
understanding to sort out all my problems.
Last but not the least I owe my sincere regards to the employees of HPCL for their co-operation
and support.
5. 5
EXECUTIVE SUMMARY
Hindustan Petroleum Corporation Limited is country's once of the largest company in the
field of oil Industry which has the leading shares in the market. Improvements of the company's
infrastructure to increase the profit of the company various number of projects have been
undertaken.
The report below mainly deals with the in depth study of E-payments which are carried
out at Hindustan Petroleum Corporation Limited. These payments are done towards two parties
namely payments to the employees and payments to the vendors. There has also been a detailed
study where different processes such as transfer of cash, different types of vouchers along with
the process of accounts payments are also mentioned.
The report has also focused on the concept of matching procedures which are followed
while maintaining and opening the ledger accounts along with the analysis and reconciliation of
the payments at various different levels in the organization. The process of foreign payments is
also thoroughly analysed.
6. 6
TABLE OF CONTENT
Sr. No. Section Page No.
1 Acknowledgement 4
2 Executive Summary 5
3 Need for Study 7
4 Objectives of the Study 7
5 Research Methodology 8
6 Petroleum Industry - An Overview 9
7 Indian Scenario 14
8 Major Players in the Market 15
9 Hindustan Petroleum Corporation Limited 18
10 E-Payment Processes 21
11 Creation of Vendor Code 26
12 Creation of E-mandate 28
13 Disbursement/ Reimbursement 29
14 Other Activities – Disbursement 39
15 Purchase Order 44
16 Benefits 47
17 Learnings 48
18 Conclusions 49
19 Bibliography 50
7. 7
NEED FOR THE STUDY:
To understand the working of the finance department of the company.
To analyse and evaluate the performance of the E-payment processes for the current
financial year.
To analyse the process of payments and procedures of accounts payables.
OBJECTIVES OF THE STUDY:
The major objective of this study is to understand and analyse the E-payment processes
and its improvement over the time period at Hindustan Petroleum Corporation Limited
and also to analyse whether there are any errors in the system and then recommend
certain changes in the same.
The important objective of the study is to analyse the methods of payments along with its
terms and conditions.
Another objective of the study is to understand and analyse the process of E-payment for
vendors or dealers who have HDFC account as compared to the vendors or dealers who
do not have the HDFC account.
8. 8
RESEARCH METHODOLOGY:
Primary Research:
The data which is collected as part of the primary research is collected through
observations in the finance department and also by visiting the officials related to finance
department of HPCL and gaining the information about the payment processes of the
company.
Secondary Research:
Secondary research includes the data which is collected from the internet along with the
information on E-payments which is collected through various reports.
9. 9
PETROLEUM INDUSTRY - AN OVERVIEW
The Indian oil and gas sector is one of the six core industries in India. The Indian oil and
gas sector is of strategic importance and plays a predominantly pivotal role in influencing
decisions in all other spheres of the economy. Refined petroleum products are very important as
they remain fundamental in our day to day life and economic activities of the nation ranging
from domestic cooking, transportation as well as employment. The increasing growth in the
developing countries has led to an increased demand for the petroleum products. The refining
industry has advanced to such great lengths in such countries whether or not there is crude oil
production in the domestic scene. Any Economy in the world would fail to take a single step in
the absence of Petroleum Industry. The main reason for an underdeveloped economy is its
underdeveloped petroleum industry.
The price of the petroleum is directly related to the inflation and the prices of goods and
services which are directly or indirectly related to the petroleum industry. The price of the
petroleum is determined by the demand and supply mechanism around the world. Petroleum is
considered as not a domestic project and any kind of shortages in the same has serious
ramifications on all the possible industries along with the economies around the world.
10. 10
Petroleum Industry is generally divided into two categories which are differentiated with respect
to their processes:
Upstream Companies:
The upstream sector includes the searching for underground or underwater oil and gas
fields, or drilling the wells in search of oil, and also operate the wells and also recover and bring
the crude oil or raw natural gas to the surface.
Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL), Cairn India etc. are some
of the upstream companies in India.
The upstream companies have always been experiencing the highest level of mergers and
acquisitions. M&A activities for upstream oil and gas deals in total of about $254 billion in
around 679 deals. These deals had actually doubled from $46 billion in 2009 to $90 billion in
2010. But then it remained the same reaching around $85 billion in Dec, 2012. The upstream
capital expenditure was about $77 billion in the fourth quarter of 2014.
India has 26 sedimentary basins which range to approximately 3.14 million sq.km out of
which around 1.35 million sq. km is under deep waters. Hence, these parts remain unexplored or
explored to a very limited range by the oil companies. The major upstream activities were mainly
concentrated on OIL & ONGC, till the late eighties. But during the nineties, these discovered as
well as undiscovered areas or wells were opened for international competitive bidding. The
India's crude oil reserves are located off the Western coast as well as on the north-eastern part of
the country whereas the unfound and undeveloped reserves are located in the state of Rajasthan
and on the offshore of Bay of Bengal.
11. 11
Downstream Companies:
The downstream oil sector companies comprises of activities which include refining of
crude oil, and selling and distribution of natural gas and products that are an outcome of crude
oil. The products include Liquefied Petroleum Gas (LPG), Gasoline or petrol, Fuel, Diesel oil
and other fuel oils along with Asphalt and petroleum coke.
The downstream companies are also known as oil marketing companies. Hindustan
Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL), Indian Oil
Corporation Ltd (IOCL) are the public sector companies on the list of downstream companies
whereas Reliance and Essar Oil are the private sector companies.
The public sector companies have increased their capacity at the existing locations or
increase the number of refineries at new locations. Today there are more than 20-25 refineries in
the country where in the refining capacity is of around 190 million tonnes per annum. The
private company like ESSAR along with the public sector companies such as HPCL, BPCL and
IOCL are planning the large expansions of the refineries in the country.
12. 12
MINISTRY OF PETROLEUM & NATURAL
GAS
UPSTREAM COMPANIES DOWNSTREAM
COMPANIES
EXPLORATION & PRODUCTION
ONGC
OIL
CAIR
N
DISTRIBUTION
HPCL
BPCL
IOCL
RIL
GAIL
India
RIL
REFINING AND
MARKETING
13. 13
Midstream Companies:
The midstream companies involve transportation of the petroleum or oil through rail,
pipeline, truck or other modes of transport, and then along with the transportation services these
companies also provide storage facilities, wholesale marketing of crude or refined petroleum
products. These services are used to for transporting the crude oil from production sites to
refineries and deliver these products which are refined to the downstream distributors. These
downstream distributors then deliver the natural gas from the natural gas purification plants to
the downstream customers.
Midstream companies can be considered as a combination as downstream and upstream
companies. Because midstream companies have both the elements from upstream as well as
downstream companies.
E.g. the midstream companies may include processing plants that purify the raw natural gas
along with removing and producing the natural gas liquids as finished end products.
Services providers which are involved in the midstream companies:
Barge Companies, Railroad Companies, Trucking and hauling companies, pipeline transport
companies, logistics and technology companies, transloading companies and terminal developers
and operators.
14. 14
INDIAN SCENARIO
The Indian Petroleum Industry is one of the oldest in the world. The oil sector in India
has seen the growth of giant national oil companies for the past sixty years since Independence.
A process of transition of the sector has begun since the mid-nineties, from a state of complete
protection to the phase of open competition. It was obvious that the technology and the
investments from abroad where going to be a part of the Indian petroleum sector. This sector
comprises of oil products, declining crude production and low reserve accretion. Till the early
90's the market was protected by the government of India. The domestic prices of petroleum
were regulated and insulated through Administered Pricing Mechanisms (APM)as against the
volatility of International price fluctuations. The APM dominated the pre-liberalized India with
the public sector units holding absolute monopoly over the entire industry. The process of de-
regulating few non-essential petroleum products in 1993, and dismantling the APM came into
force in April 2002, when the sector has been completely liberalized from the control of the
government of India, which led to an enormous pace of activities in this industry in India.
Oil and Gas Industry size is estimated approx. at $US 110 bn. which is around 15% of the
Indian GDP. It contributes to about 45% of India's primary energy consumption. There has been
a significant growth in the foreign trade in petroleum and petroleum products. It has further
increased and attracted new foreign investments. Petroleum Gas, Oil, Propane, distilled crude oil;
naphtha, ethane and kerosene are some of the main petroleum products that are manufactured for
trade abroad. Rapid globalization, fast changing technology, and the changes in the way business
is conducted have brought huge opportunities for the petroleum companies in India to flourish
and expand their operation to global market.
15. 15
MAJOR PLAYERS IN THE MARKET
The major players in the market in India include Oil & Natural Gas Commission
(ONCG), the Indian Oil Corporation Ltd. (IOCL), The Hindustan Petroleum Corporation Ltd.
(HPCL), Bharat Petroleum Corporation Ltd. (BPCL), Reliance Industries Ltd. (RIL), Gas
Authority of India Ltd. (GAIL), India's principal gas transmission and marketing companies. The
Reliance Industries Ltd. (RIL) is an integrated company with one of the largest refineries in the
world.
OIL & NATURAL GAS COMMISSION:
Oil and Natural Gas Commission (ONGC) is a public sector unit of Government of India
which was set up in 1959, and is under the control of the Ministry of Petroleum and Natural Gas.
It is an Indian multinational oil and gas organization which has its headquarters at Dehradun,
India. It is the largest oil and gas exploration and production company in India. ONCG is an
upstream company dealing with the exploration and production of oil and gas. It produces
around 69% of India's crude oil which is approximately equal to the country's 30% of the total
demand and it produces around 62% of country's natural gas. ONGC has been ranked 424th in
the Fortune Global 500 list of world's biggest companies in the year 2014. According to Platts,
ONCG has been ranked 21st among the Top 250 Global Energy Companies. ONGC earns
revenue from Crude oil of around Rs.562.38 billion, with respect to Gas it was Rs 168.88 billion,
revenue from LPG was Rs 31.48 billion, Naphtha's revenue was around Rs 76.80 billion but the
total revenue was for the year was around Rs 825.52 billion.
16. 16
INDIAN OIL CORPORATION(IOCL):
Indian Oil Corporation Limited is a government and state owned gas and Oil Company
which has its headquarters in New Delhi, India. Indian oil and its subsidiaries account for around
49% share in the petroleum market, 31% in the refining market, and around 67% downstream
company in India. Indian Oil Corporation Limited owns, manages and operates 10 of the total 22
refineries with a total capacity of 67.5 million metric tonnes per year. The government has
approximately 79% shares in the company. IOCL is one of the seven Maharatna status
companies in India. IOCL has been ranked 96th in the Fortune Global 500 list of world's biggest
companies in the year 2014. According to Platts, ONCG has been ranked 44th among the Top
250 Global Energy Companies.
RELIANCE INDUSTRIES LIMITED (RIL):
Reliance Industries Limited is an Indian company which is headquartered in Mumbai,
India. The company operates in exploration and production, refining and marketing as well as
petrochemicals. Reliance Industries Limited is the second largest publicly traded company in
India. It is also the second largest company in India in terms of revenue which is followed after
the government owned company that is Indian Oil Corporation. The company is ranked on the
114th position on the Fortune Global 500 list of the world's biggest companies as of 2014.
Reliance Industries Limited contributes approximately 14% of India's total exports. According to
Platts, RIL has been ranked 22th among the Top 250 Global Energy Companies.
17. 17
ESSAR OIL:
Essar Oil is an Indian company which is engaged in the exploration and production of oil
and natural gas along with refining of the crude oil and also marketing of the petroleum products.
Its headquarters is based in Mumbai. It has the second largest private sector refinery in India
which is situated in Vadinar in Gujarat, India. According to Platts, ESSAR OIL has been ranked
209th among the Top 250 Global Energy Companies.
BHARAT PETROLEUM CORPORATION
LIMITED (BPCL):
Bharat Petroleum Corporation Limited is the government owned company which has its
headquarters in Mumbai, Maharashtra. Bharat Petroleum Corporation Limited operates two huge
refineries of the country which is located at Kochi and Mumbai. BPCL has been ranked 242th in
the Fortune Global 500 list of world's biggest companies in the year 2014. According to Platts,
ONCG has been ranked 66th among the Top 250 Global Energy Companies. It is the second
largest in the downstream companies with respect to state owned companies. The company has
around 14% share of refining capacity. It is also the second largest oil marketing and distributing
company in the country. The company operates an extensive distribution network of over 4500
retail outlets out of which around 62% of them are owned by the company. Apart from Mumbai
and Kochi refineries, BPCL also established two more refineries which were located in Madhya
Pradesh (Bina Refinery, Sagar District) and the other refinery is in Assam (Numaligarh Refinery,
GolaghatDistrict).
18. 18
HINDUSTAN PETROLEUM CORPORATION LIMITED:
Hindustan Petroleum Corporation Limited is an Indian state-owned oil and natural gas
company which has its headquarters at Mumbai, India. HPCL has been ranked 284th in the
Fortune Global 500 rankings of the World's biggest corporation for the year 2014. HPCL has
about 25% marketing share in India among all the public sector units and has a strong marketing
infrastructure. The company was founded in 1974 and its major products are oil, natural gas,
petroleum, lubricant and petroleum. Hindustan Petroleum Corporation Limited has also ranked
on the 6th Position in achieving the Navratna Award in the year 2014.
The total no. of employees in the company is approximately 11,226 (2014). It is a listed
company in the Bombay Stock Exchange as well as the National Stock Exchange. The current
revenue of the company in the year 2014 was US$ 37.85 billion, Operating Income was around
US$ 621.6 million, Net income for the year was about US$ 174.7 million, the total assets of the
company was around US$ 15.64 billion.
HPCL'S MISSION:
"HPCL, along with its joint ventures, will be a fully integrated company in the
hydrocarbons sector of exploration and production, refining and marketing; focusing on
enhancement of productivity, quality and profitability; caring for customers and employees;
caring for environment protection and cultural heritage.
It will also attain scale dimensions by diversifying into other energy related fields and by
taking up transnational operations."
19. 19
HPCL'S VISISON:
To be a World Class Energy Company known for caring and delighting the customers
with high quality products and innovative services across domestic and international markets
with aggressive growth and delivering superior financial performance. The Company will be a
model of excellence in meeting social commitment, environment, health and safety norms and in
employee welfare and relations.
QUALITY POLICY:
To ensure that the consistency is up to the mark with respect to the quality of products
and services provided by making sure that the work or task is done right at the first time.
Continuous training, teamwork, motivation should be provided to the employees of the
company along with the continuous up gradation of the technology.
Providing the customers with total satisfaction through quality products and solving their
grievances (if any) as quickly as possible.
To make sure there are no wastages or to avoid wastage of resources, increase the level of
productivity and optimize the quality of products and services in order to make sure that
it is cost effective.
PRODUCT COMMITMENT:
To build and maintain team bonding and quality culture through employee participation,
motivation and continuous training.
To follow the path where the products are developed in an eco-friendly environment.
To make sure that the products and services provided to the customers are all high quality
so that it increases the level of satisfied customers.
20. 20
RECOGNITIONSAND AWARDS:
Reader’s Digest ‘Trusted Brand Asia Platinum’ Award
Golden Peacock Corporate Governance Award 2008 &2014
CIO 100 Award 2008
India Star Award
NDTV Profit Business Leadership Award
National Award For Excellence In Cost Management
Greentech Environment Excellence Award 2008
Best HR Practices in ‘People Management’
OISD Safety Award.
COMPANY BREAK-UP:
51%
23%
11%
4%
11%
Share Holding (%) Government of India
Financial Institutes and
Banks
FIIs
Mutual Funds
Others (employees)
22. 22
E-PAYMENTS - PROCESSES AND IMPROVEMENTS
MAPPING OF ACCOUNTS FOR HPCL:
Hindustan Petroleum Corporation Limited has an operative account in HDFC. The
process of mapping should be done by the bank before making any payments either for
employees or vendors. There are two types of mapping that takes place the one in which an
employee or a vendor has an HDFC account then the amount directly gets debited to their
respective account and the second in which an employee or vendors have another account which
is not in HDFC then the transfer of payment takes time.
The mapping which is done from HDFC to HDFC is done through the pay instrument 3
where the client code is HHIN where if the mapping of the account is done from HDFC to SBI
then the pay instrument 5 with client code HHNN is used. Other bank payments are done
through RBI route for clearance. An e-mail is triggered once the payment is done. The HDFC
bank will require the employee number or vendor number, their name, account number and e-
mail id after the account is mapped.
The testing of the mapped accounts are carried out by making a test payment of Re.1
which is sent to the vendor account or the employee, once they have approved that they have
received the payment only then the actual payments are to be made.
23. 23
E-PAYMENTS
E-Payments system or collection of payments through E-collection is the newest form of
payment system which is developed by HPCL. To carry out the system of E-payments smoothly
HPCL has tied up with HDFC bank as well as SBI bank. The major motive of the e-payments
was to make sure that the payment process was transparent and was carried out faster with
minimum errors or defaults in the payments.
There are two ways in which the payments are collected through E-payments:
NEFT (National Electronic Fund Transfer)
If the payments are between Re.1 to Rs. 2 lakh then the NEFT payment system is used.
RTGS (Real Time Gross Settlement)
If the sum of the payment is above Rs. 2 lakhs then the RTGS payment system is applicable.
SBI
Core to core
(Activities take
place in the same
bank)
RTGS (Dealer has
an account with
different bank)
Account Mapping
3025 +8 Digit dealer code
Account Mapping
30727053103+A
+8 Digit dealer code
30726811886+A
+8 Digit dealer entry
NEFT/RTGS
HDFC
Core to core
(Activities take
place in the same
bank)
RTGS (Dealer has
an account with
different bank)
24. 24
Process:
The interface mapping between the HPCL server and the Bank server is done via
seamless data transfer. The functional setup in JDE for data transmission to the bank and also
doing test transaction to check the completeness of the transaction. Then the bank mandate
should be collected and updated. The initial payment of Re.1 should be made to the vendors to
ensure that the bank mandate is correctly updated. And once the payment from the vendor is
confirmed the vendor E-payment is enabled for all the payments and then there is no need to
change the general ledger bank account.
Dealers NOT having an accountwith HDFC Bank:
HDFC bank has allocated the Virtual account number for each dealer which has different
combination which is as follows:
SBU wise unique prefix is given which is followed by the dealer code.
HDFC bank prefix:
DSRO - 3018
Retail - 3025
LPG – 3028
And these unique numbers are followed by 8 digit unique dealer code. Hence, the length of the
virtual account number is of 12 digits.
Dealers having an accountwith HDFC Bank:
A separate 14 digit virtual account number will be given to each dealer of HPCL, who
has an account with the bank. Dealer can walk into any of the HDFC bank branch and give the
request for fund transfer from their existing HDFC bank account to the allocated virtual account
number; the only prerequisite is that the HPCL needs to inform the bank in advance.
25. 25
E-Payments Controls:
Start entering the data through creator/approver matrix and keep updating it. But the data
can be extracted or uploaded only once. The data that is transmitted through the internet is in the
encrypted form. The authorities who are also the signatories can view these transactions in both
JDE as well as the bank server.
FOREIGN PAYMENT:
Equipment or Services sometimes requires for foreign payment
For the foreign payment, acquire equipment Form -A1 and service form -A2 are filled.
Certification is done by the Chartered Accountant for which form 15-CBis filled.
Then, Form 15-CA is filled at NSDL site and invoice copy is printed.
Bank sheet and beneficiary remittance detail copies are maintained.
26. 26
CREATION OF VENDOR CODE THROUGHJDE SUPPLIER CLONE:
CREATION:
The mandatory fields should be filled in the application. The "PAN NUMBER" needs to be
updated in the Localization link and an appropriate "PERSON/CORPORATION CODE" should
be updated in the clone application.
If the vendor is SME/ NSIC, then it needs to be updated under localization link available in
the exit bar and also update the correct Type of Entity under additional tab in the main page.
Also update other relevant licenses and certification details of vendor in "Localization" exit bar
link depending upon the type of vendor.
One vendor contact no and Email Id has been made mandatory for VA type of vendor. Update
these two details using the exit bar "Phone" link, the email id to be updated in the field
'Electronic Address' in the 'Phone' link.
Custom Table updation has been added as an additional requirement. Update such Type of
Vendor, Vendor class, type of jobs, item class only (as applicable). Do not update other fields
which are meant only for registered vendors. One custom table detail is mandatory for VA type
of vendor.
Clearly mention the reason for creating the code under the remark field while sending the
transaction for approval action. Get the transaction approved by minimum salary grade 10E or
above at the location level approval. On approval, the system will route the transaction
automatically to CPO (Central Processing Office) for further handling. The transaction details
are checked at CPO and approved with code getting created in the JDE.
Transactions with any missing details are rejected and sent back to the creator with remarks
which can be resubmitted again with necessary changes. A system generated email will go to the
creator on approval/ rejection of the transaction.
27. 27
CHANGES OR UPDATION IN THE EXISTING CODE:
Check all the fields for availability are filled correctly. Fill in the missing details if any and
then only initiate a change request.
Get the transaction approved by minimum salary grade 10E or above. On approval, the
system will route the transaction to CPO automatically for further handling. The transaction
details are checked at CPO and on approval, the change will be effected in JDE. Transactions
with missing details are sent back to the initiator with remarks.
Mention the reason for change request under remark field while sending for approval. A
system generated email will go to respective initiator on approval/rejection of transaction.
STEPS TO BE TAKEN BEFORE CREATION:
Check for the availability of the code in JDE for the vendor. Always use the existing code for
the transactions and avoid putting up duplicate requests which will be declined by the CPO.
Verify and Validate all details including Name, Address, Email Id, Contact Details, Pan
number, Tax, TIN details if any Vendor for SME status if any.
Use JDE supplier clone (Pur) -Misc. for creation if the vendor code is required for making
miscellaneous / PX payments on a one time basis. In this case the search type of the casual
vendor shall be VC. These transactions will get approved locally and get updated to JDE.
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CREATION OF E-MANDATE:
The E-mandate is the most important document which is created when a company starts
their business with HPCL or when an employee joins the company. The mandate form for the
suppliers and for that of the employees is different for updation in the JDE. The details of the
vendor/supplier/employee are mentioned in the E-mandate.
The documents required to create an E-mandate are
Details of the employee/suppliers bank account numbers and NEFT or RTGS no. to be filled
in the E-mandate. This form should be filled by the concerned party and should get the
confirmation from his or her bankers by way of bank seal and authentication.
The form should include the PAN Card's photocopy of the vendor along with the cancelled
cheques for statutory and clarity purposes.
The details provided by the party should be updated in the JDE and should be sent to the
disbursement officer for approval and the officer should review and update the E-mandate in the
system.
Once the updation is done, a test payment of Re. 1 is done immediately through standalone
(PX) voucher. This test payment voucher should be approved by the disbursement officer in the
JDE.
After getting the confirmation from the employee or vendor concerned for test payment, the
regular payment transactions can be started through the Electronic mode.
Disbursement and Reimbursement section shall maintain the records for test payments and
confirmation of the test payment.
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DISBURSEMENTS/REIMBURSEMENTS:
Disbursement refers to the act of payments which may include payment done towards a
business, or for certain business expenditures or payment towards the vendors or the employees.
These payments can be done via cash, cheque, vouchers or through E-payments.
Mainly the payments are classified in two different categories:
1) Payment to the Vendors/ Contractors/ Transporters.
2) Payment to Employees.
1) PAYMENT TO THE VENDORS/SUPPLIERS/CONTRACTORS:
The payments which are done towards the suppliers or vendors are done through two
methods which involve either the purchase order or the stand alone vouchers. The purchase order
method is used only when the contract order is above Rs.20000 or else the stand alone voucher
method of payment would be used.
The Bill Tracking System (BTS) is used so that the bills can be generated and entered by
the user department and this process of BTS is used before booking the vouchers in the JDE for
payment. Then the bill no. is assigned to the concerned employee so that they can process the
transaction correctly without any errors.
STANDALONE VOUCHER METHOD:
Standalone is also known as the PX voucher method which is used for petty cash
payments. The standalone voucher is made only when the transaction price for the contract is
equal to or below Rs.20000.
The invoice /bill should be in the name of Hindustan Petroleum Corporation Limited.
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The service tax registration number, TIN No., PAN No., VAT No. should be mentioned on
the vendor invoice.
For proper accounting of expenses, the vendor number and the expense code should be
mentioned on the bill/ payment voucher before entering the voucher in JDE.
One of the most important things is that the invoice bill should bear the signature of two
officials. The first officer should be the one who is certifying the receipt of materials or job done
whereas the other approving officer should be competent to approve the payment which is
mentioned as per the LAM (limits of authority manual).
While creating a PX voucher, the voucher once done can be modified again before sending
for approval. The creation of the PX voucher is done through manual entry. Hence, the PX
vouchers are checked twice before approving.
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AP Clone Vouchers:
A standalone AP clone voucher is created by the creator which is mapped in the JDE.
Once the voucher is created it is then approved by the disbursement officer and then the payment
group is created. All the transaction details are uploaded manually. The first step is to create a
transaction batch (may include multiple transaction under one batch or may include multiple
details under one transaction). Once the transaction is created it is sent for approval (status
denoted as"1"). If the voucher is sent back for modification then the status would show a
"blank" whereas if the batch is approved it denotes "A" and the batch that is under process will
be seen as "Z". Once this process is done, batch will be updated in the JDE "U". If there is an
error in the batch then it will show "E" and if it is cancelled then "X". Then either a cheque is
written or an E-payment is done. The summary of the payment group is then sent to the
authorised signatory.
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On exceptional basis PX voucher are created where the payments exceed Rs.20000 where either
the payments are for:
Payments through file note approvals (approved by concerned SBU executive director).
Charter hires payment as per the charter party agreement.
Once the payment group is created it has to be approved in the system by the authorised
Disbursement functionary.
Even M/s Hindustan Colas is an exception to the PX voucher. The payments with respect
to M/s Hindustan Colas is as per the agreement with Hindustan Petroleum Corporation Limited.
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The document of Joint Verification is created by HPCL/HINDCOL in system for
payments to M/s Hindustan Colas where payment is above Rs.20000. Hence, no purchase order
is created.
This document of Joint verification includes the location of the products, the basic rate,
the amount of discount provided on the invoice, excise duty, total price after the discount, CST,
transportation details, entry tax (LBT), bitumen rate, product and the type of product, selling
price, final rate, quantity sold, VAT and grand total.
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PAYMENTS AGAINST PURCHASE ORDERS:
Payments which are made against purchase orders are those payments which are above
Rs.20000 for which local purchase orders are prepared by the purchase department on receipt of
request by the user department. Tenders are floated for a particular product/service through E-
proc site through competitive bidding process.
Tenders are opened at the scheduled time and the vendors are also aware of the rates
which are quoted by the other vendors. The vendor is chosen based on the lowest rate quoted and
the purchase order is issued to the successful vendor.
These purchase orders are sent to disbursement department wherein commercial terms
and conditions are mentioned along with the date of delivery. Accordingly, disbursement
department receives a MRR (Material Received Report) from the location/user department. The
purchase order quantity rate or taxes are entered in the ERP system. The MRR receipt included
the quantity and the per unit rate which is matched in the ERP and a PV voucher is generated for
the payment.
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MRR needs to be approved by the respective officer and the bill of the contractor should be
approved and certified by the user.
The value of the MRR should be the same as the bill submitted by the vendor and amount
payable, and then the payment can be released for the MRR account without any hassle.
The taxes or other expenses which cannot be forecasted correctly while making the purchase
order are to be paid on actual basis. The extra amount should be mentioned on the MRR by the
official approving the MRR.
Once the matching of the vouchers is done it is sent for approval. After approval, the TDS
which is applicable is deducted along with the retention money; payment may be released against
the PV voucher through the mode of either E-payments or cheques.
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In case, if the value of the accounts payable is different from that of the bill generated by the
vendor, then the user may mention the amount payable on MRR with the reason thereof. In case
of liquidated damages the user has to mention it on the MRR if the amount payable which is
certified by the user is correct as per the purchase order condition, then the same is to be paid by
just making certain changes in the amount of the MRR. This can be done with the help of Line
type 4 while matching the voucher.
Line 4 is basically created when there are discrepancies in the amount of the MRR or the bill
generated by the vendor or for adding tax lines. After the payments are done, they are stamped
along with the date on the PV voucher.
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The MRR includes product description, quantity ordered, unit rate, and amount. Remarks are
to be mentioned if any liquidation damages are to be deducted for late receipt of materials.
Point to be noted while generating the vouchers from MRR:
The PV voucher once made cannot be rectified but can be modified only by the senior
manager. So, it is best to make no errors while creating MRR.
The payment terms should be clearly mentioned. The documents such as Invoice bill, delivery
proof, manufacturer test certificate and guarantee certificate, and other documents should be
attached with the MRR.
The Tax lines which are related to the MRR should be checked. And also make sure that the
voucher line and the tax lines are always together.
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2) PAYMENT TO THE EMPLOYEES:
The payments towards the employees are done according to the HR policy of the
corporation. The employees usually claim for TES, transfer expenses, telephone services, club
fees, conveyance claims, medical claims etc.
Employees should submit their claims through the 'My HPCL Portal' using 'Online self-
services’ menus such as leave, medical claim, vehicle reimbursement, telephone and mobile
claims and also for business travel. They can also go to the payroll and benefits menu for vehicle
loan, housing loan, etc.
The employees are supposed to produce the necessary documents to get the claims. These
documents will be verified by the disbursement officer and then will be approved for payment. If
these payments are approved, they are then sent to the JDE for the report generation and
updation. Now, once the report is generated, E-payment or cheques are created in order to make
the payment to the employee.
E-PAYMENTS:
Once the E-cheques are written in JDE, a scheduler is run so that the E-payments can be
authorized in HDFC site by the nominated authorizers (manager and above).
Once the payments are authorized the bank debits HPCL for all the E-payments made which
are checked in the HDFC site by the concerned disbursement officer at the day end by logging in
the HDFC bank site.
The authorized officer then confirms the payment at the HDFC site. Once this processes are
done the payments gets credited to the respective employees account.
MANUAL CHEQUE:
Once the payment is approved, the cheques (SBI) are printed by the clerk and are sent to
the authorized signatories wherein two signatures are required on the cheques. These cheques are
kept separately and should be collected by the respective department from the reimbursement -
disbursement section. This section shall get the acknowledgement while collecting the cheque by
concerned user departmental person.
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OTHER ACTIVITIES/DISBURSEMENTS:
1) Petty Cash Disbursements (PCD):
PCD mostly deals with the receiving and paying of petty cash dealing in the company. They
mostly deal with the day to any transactions.
They include creating transactions relating to the conveyance charges, medical receipt (for
employees as well as non-management retired employees), EMD, Security Deposits,
reconciliation, creation of proof sheets, as well as cash receipt generation.
Petty Cash Disbursement limit is Rs. 300,000 but the system default setup is up to Rs.100000.
Recently, ERP has done the set up in such a way but earlier the limit was up to Rs. 150,000.
The cashier has the authority to check the payment voucher which is attached with the
document or the bill and to make sure that the approval has been obtained from the concerned
officials.
The cashier then prepares a payment group in the JDE for all the vouchers which are collected
for which the petty cash is to be disbursed and they documents are then sent to the disbursement
officer for approval.
The cashiers prepares the PCD cheque and get the signature of the respective officials for
reimbursement of the petty cash once the cashier has received the approval from the
disbursement officer.
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2) MedicalBills/Telephone Bills/PersonalLoans/Maintenance Charges:
There are lists of payments which are approved by the P&A and given to the
disbursement officer. This approved list of payment is given to the clerk for preparation of the
payment group either through a cheque or an e-payment. The clerks then prepares the payment
group and prints out the same and send it to the disbursement officer for E-payment along with
the list of approved payments. Then the normal procedure of the e-payments or cheque payment
is carried out.
a) MedicalBills:
The employees are covered under the company's medical insurance. The employees are
registered with the company. The management employees are allowed the medical claim up to
Rs.15, 00,000 for their lifetime whereas the non-management staff can avail the claim up to
Rs.1000000 in their lifetime. This claim is available for the employee himself along with his/ her
dependent spouse, dependent children and one of the dependent parents. If any of these members
from the employee's family is hospitalized, then the employee has to take a letter of credit from
the HR department which is then submitted to the hospital. The employees then have to submit
the bills, prescription and other related documents to the HR and the finance department. If any
amount is to be provided to the employee then a payment group is created through the mode of
cheques and the amount is reimbursed to the employees.
b) Telephone Bills:
The telephone bills are reimbursed only to the officers. There is a limit which is given to
the officers up to which the bill amount will be reimbursed. To avail the claim the officers are
supposed to submit the original copy of the bill as a proof. If the bill amount is lower as
compared to the amount available for claim then the actual amount of the bill is reimbursed to
the officer. He cannot claim more than the amount allotted to him.
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c) PersonalLoans:
The employees are given certain benefits that they can avail. Out of these, one of them
is the personal loans. The employees can take car loan, home loan, education loan, etc. from the
company at a lower rate of interest as compared to the commercial banks. The amount of interest
and principal gets deducted on monthly basis from the employee's salary in order to repay the
loan to the company.
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3) Travel Expenses:
The expenses which are incurred by the employees on travelling for business purpose are
reimbursed to them. A travel expense statement is generated. The first step is to create a tour
itinerary which is then approved by the concerned official. The managers and the officials above
them are provided with air tickets. The travel expenses are decided on the basis of the bhatta.
These are the allotted bhatta which are provided to the employees on the basis of their position
on a daily basis.
Position Grade Metro Cities Non metropolitan
Cities
Juniors A Rs. 1200 Rs. 1150
Seniors B
Deputy Manager C Rs. 1300 Rs.1250
Manager D
Senior Manager E Rs. 1400 Rs. 1350
Chief Manager F
Deputy General
Manager
G
Rs.1500 Rs.1450General Manager H
Executive Director I
The allotted bhatta along with the conveyance and the hotel stay is then reimbursed to the
employees if any extra amount is incurred during their business trip.
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4) Forex Currency:
The forex currency is arranged through Thomas Cook. The employees who are going
Outside India on a business trip should comply with certain rules and regulations.
Arranging the Foreign Exchange Currency:
On the basis of the instructions received from Banking and Insurance HQO forex currency
has to be arranged and a file note is to be approved.
On the approval of the file note, a requisition letter is being prepared for the arrangement of
the currency and a scanned copy of the letter is then sent to Thomas Cook.
Once the forex currency is arranged from Thomas Cook, they will send an invoice bill of the
document. Based on this invoice bill and file note approval disbursement section will prepare a
standalone (PX) voucher and shall process the same for making payment to Thomas Cook
through E-payment.
Surrendering the Foreign Exchange Currency:
The employee will get instructions from the banking and insurance HQO forex currency to
surrender the forex currency. The disbursement officer would inform the employee the same and
collect the forex from the employee and surrender to Thomas Cook.
Deposit the cheque and surrender the forex amount to Thomas Cook. Once the cheque is
deposited prepare a cash receipt copy and send it to the banking and insurance HQO and
employee for acknowledgement of the transaction.
All the documents shall be maintained in a separate file for surrender and arrangement of the
forex transactions.
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PURCHASE ORDER
90% against irrevocable letter of credit with an issuance of 75 days from the bill of lading
date along with the inspection release note by TPI and the balance 10% on the successful
commissioning of the monitors at site.
The Shipping Documents should include:
1. Bill of lading
2. Packaging List
3. Freight Memo
4. Certificate of Country of origin
5. Drawing
6. Catalogue
7. Purchaser inspection release note
Unless otherwise mentioned, the following documents should be submitted to HPCL and
payments for dispatches should be made by HPCL:
Excise Invoice and lorry receipt of the consignment
Packaging list for the consignment
Manufacturers test certificate as per approved QAP.
Drawings/ catalogues covering the materials wherever applicable
Original receipt for Octroi/other statutory levies are applicable
Operation and maintenance manual
Other relevant document
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There should be two sets of these documents out of which one should be submitted to the
consignee and other should be kept with the vendor himself. The document for payments should
be submitted to the senior manager of finance in original and the other set should be submitted to
the officer who is present at the location of the supply.
On time delivery of the activities is very essential. Delivery period would be counted
from the date of notification of award up to the date of receipt of goods at defined locations.
Delivery period should be specified in the tender.
In case of any delay in execution of the order beyond the stipulated delivery period,
penalty will be applicable at 0.5% of the basic value of the goods not delivered per week of delay
and the liquidation damages shall be applicable on the pro-rata basis which is subject to a
maximum of 5% of the total basic order value.
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Accounting Entries for Purchase Order Payments:
Received materials into Inventory
Expenses or Inventory Account Dr. (10000006.735100)
To Receipt - non vouchered account (10000.302110)
While voucher matching
Receipt - non vouchered account Dr. (10000.302110)
To Accounts payable account (10000.305050)
On Payment
Accounts Payable account Dr. (10000.305050)
To Cash/Bank account (11000.233500.1135051)
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BENEFITSOF E-PAYMENTS:
The E-payment system helps the corporation in maintaining the level of transparency in the
transactions of the payments.
The increase in the E-payments has led to a tremendous decrease in the cost of transactions
which were incurred while carrying out a payment.
The method of payments through electronic mode has increased the level of operational
efficiency in the finance department as well as in the entire corporation and their dealings with
the vendors.
The electronic mode of payments has helped in making quick comparisons between the
different balances and to check whether the payments made towards a certain vendor are correct.
48. 48
LEARNINGS:
During the course of the internship I had the opportunity to observe, understand and learn
from the experienced members of the organization who were occupying different levels of
position in the organization. I had the opportunity to work along with them on a daily basis for a
period of two months and learn all about the finance department. It was my first experience
working in the corporate world which taught me the importance of corporate etiquettes. I learned
the importance of punctuality that is reaching office on time without any excuses. The
environment of the corporation was a competitive one which demanded long hours of desk job
which had to be completed on a daily basis with absolute efficiency and within the stipulated
time. The SIP programme also gave me the opportunity to learn the basics of how to use and
work on the software called as JD.E (JD Edwards) which is used to carry out all the financial
transactions in the corporation. It also gave me an opportunity to communicate with different
senior executives coming together from different backgrounds and shared their experiences with
me. One of the important factors I learned was to keep patience and deal with the situations
within the corporation.
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CONCLUSION:
The corporation found that E-payments are the best practises as they continue to process
large no. of transactions electronically. There are a no. of technologies and products for
payments which are currently available. The JDE system is used to make the payments and even
the bank payment gateways are used for electronic fund transfer.
Over the past recent year, there has been a promising growth in the use of E-payments.
The total cash or manual payments transactions have declined significantly. It is believed that the
development of E-payments may raise a no. of unrelated policy issues but currently there has
been no evidence indicating any adverse impacts arising from the development of E-payments.
Currently, there is a clear indication that E-payment systems are going to grow and
continue to develop as it is critical to facilitate the efficient payment system.