INTERNATIONAL INSTITUTE OF PLANNING &

MANAGEMENT
[MUMBAI]

INTERNSHIP REPORT

ON

ALTERNATE BRAND SOLUTIONS LTD

SUBMITTED
BY
TUSHAR B. BHOSALE
(Batch: SS/PGP/08-10)

FROM
ST
1 JANUARY, 2009

TO
TH
15 FEBRUARY, 2009

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 PREFACE

The purpose of this report is to explain what I did and learned during my internship
period with the Alternate Brand Solutions Ltd in the Finance & Business
Accounting. The report focuses primarily on the assignments handled, working
environment, successes and short comings that the intern did encounter when
handling various tasks assigned to him by the supervisor.

Because the various parts of the report reflect the intern’s shortcomings, successes,
observations and comments, it would be imperative that the recommendations are
also given. Therefore the report gives a number of comments and
recommendations on the internship programme.

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 TABLE OF CONTENTS

PREFACE............................................................................................................................................. 2

TABLE OF CONTENTS ... ....................................................................................................... . 3

CHAPTER ONE ... ............................................................................................................................. 5

1.0 INTRODUCTION.................................................................................................................. 5

1.1 Company Background & Company structure... ............................................................... 5

1. 1. 0 LEARNING... ..................................................................................................................... .10

1.1.0 Account Receivable & Payable ....................................................................................... 10

1.1.1 General Ledger Process ................................................................................................... 11

1.1.2 MIS ................................................................................................................................. 11

1.1.3 Payment process ............................................................................................................... 12

1.1.4 Systems Application & Product (SAP) ........................................................................... 14

1.2.0 DUTIES & RESPONSIBILITIES.................................................................................... . 16

1.2.0 Vendor Payments ............................................................................................................ 16

1.2.1 Invoicing and Receipts.................................................................................................... 17

1.2.2 Assisting in generation of Daily/ Weekly reports ......................................................... 17

1.2.3 Record Keeping............................................................................................................... 17

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CHAPTER TWO... ............................................................................................................................. 18

2.0 Work Experiences... ................................................................................................................ 18

2.1 The Impact of My Work ......................................................................................................... 18

2.2 Success & Short Comings ... ................................................................................................... 19

CHAPTER THREE........................................................................................................................... . 20

3.0 INTERNSHIP AS A LEARNING PROCESS... ................................................................... . 20

3.1 My Expectations ..................................................................................................................... 20

3.2 Benefits of the Program......................................................................................................... 20

CHAPTER FOUR... ........................................................................................................................... . 21

3.0 OBSERVATION & CONCLUSION... ................................................................................. .21

3.1 Observations... ......................................................................................................................... 21

3.2 Conclusion............................................................................................................................. 21

3.3 Recommendations ................................................................................................................... 21

APPENDIX...............................................................................................................................................22

DECLARATION.......................................................................................................................................23

ACKNOWLEDGEMENT.........................................................................................................................24

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 CHAPTER ONE

1.0 INTRODUCTION

As an intern with Times Of India Group Company, I was working in Alternate Brand Solutions Ltd
(ABSL) subsidiary company of Times Of India Group Company. I was worked under the supervision of
Mr.Rakesh Indulker who is the group manager–Finance of Alternate Brand Solutions Ltd.
ENIL recently hived off its Event management business 360 Degree Entertainment from Times Innovative
Media Limited (TIM) to a wholly owned subsidiary ABSL (Alternate Brand Solutions Ltd.) the company
has managed many big ticket Events in this segment.

1.1 COMPANY BACKGROUND:

Entertainment network India ltd is a leading city-centric media Company and is listed on the BSE and
NSE. Incorporated in June, 1999, ENIL operates FM radio broadcasting stations through the brand Radio
Mirchi in 32 Indian cities and is headquartered in Mumbai. ENIL has a wholly owned subsidiary, Times
Innovative Media Limited, through which it operates its out-of-home media brand Times OOH and
experiential marketing brand 360 Degree Experience. Its promoter, Bennett, Coleman & Co. Limited
(BCCL), is the flagship company of The Times Group, which has a heritage of over 150 years and is one
of India's leading media groups.

Entertainment Network India ltd operates in three segments, viz.

 FM (Radio Business)
 OOH (Out of Home Media), &
 360 Degree ( Event Management Business)

RADIO BUSINESS:

i) ENIL is the largest private FM Radio operator in the country in terms of number of operational
stations and revenue. Enil operates FM radio broadcasting stations through the brand Radio Mirchi in
32 Indian cities. It is the only company with private FM radio stations in all four metropolitan cities of
Delhi, Mumbai, Chennai and Kolkota. It is also the only private FM radio broadcaster in the cities of
Ahmedabad, Indore and pune.

ii) ENIL has retained its market leadership with approximately 49% share of private FM radio industry.
The company has operationalised all its 32 licenses in the current year & hence all the costs associated
with it are completed, which implies higher margins in the coming years in the radio business.

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 iii) The major cost involved in the radio business is the license fees & the initial set up cost. Most of the
costs in the radio business are fixed except for the license fee which is on a revenue sharing model. As
per the phase II license norms all the operators have to pay a license fee which is 4% of its gross
revenues or 10% of the OTEF (one time entry fee) whichever is higher. The other costs are however
fixed in nature.

iv) One of the major cost components is the Royalty paid to the music companies. The Company pays
royalty to PPL, an industry organization, and various music companies (such as SCIL) that are not a
part of PPL. In addition, for each sound recording from Phonographic Performance Limited (PPL),
they also pay royalty to The Indian Performing Right Society (IPRS), a collective society that
represents artists. They pay royalty on a per needle hour basis, which is based on the duration of sound
recordings of the licensor that they broadcast. ENIL pays royalties to PPL at rates that have currently
sound recordings at all their radio stations at an average cost per needle hour of Rs.661. Similarly,
they pay SCIL for sound recordings at the three radio stations of Mumbai, Delhi and Kolkata, at
needle hour rates that vary between Rs.300 and Rs.1,200 depending upon the time of the day the
sound recording is broadcast pursuant to a Copyright Board order.

OOH (Out of Home Media):

Times OOH owned by Times Innovative Media Limited (TIM), a Times of India group Company, is
India's leading player in Out of Home category. Times OOH has a wide set of assets across the key
Metros in India that provides a broad range of platforms across a variety of verticals-

- Transport: Mumbai and Delhi Domestic and International Airports, Delhi Metro, Kolkota Metro,
- Billboards such as Patel Bridge in Mumbai; Billboards in Pune;
- Street Furniture such as Mumbai Bus Queue Shelters,
- LED Screens in airports and malls to name a few.

v) Times OOH gives a range of products and solutions to reach out to discerning audiences. In the out-
of-home media business, the company markets the space on various out-of- home media sites to
advertisers and advertising agencies. The company is also the marketing agent of space on six metro
railway stations around central Delhi, which were recently licensed by the Delhi Metro Railway
Corporation to TIML

vi) In an environment when out-of-home sites in India were predominantly owned or operated by small,
local players and are typically, directly marketed by them to advertisers and advertising agencies,
Times OOH stands out as a marked contrast. Its success stems from its ability to provide geographic
flexibility of the highest order to the advertiser. Coupled with innovations that allow this medium to be
used for mass segments as well as niche segments, Times OOH managed to bring to life OOH
advertising's inherent benefits of freshness, freedom and scale.

vii) Recognizing the strong long term potential of the Out of Home media business and the attendant
capital requirements, ENIL recently approved capital rising up to Rs.500.

viii) Core through a mix of Debt & Equity.

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 EVENT MANAGEMENT BUSINESS:

ENIL recently hived off its Event management business 360 Degree Entertainment from TIM to a
wholly owned subsidiary ABSL (Alternate Brand Solutions Ltd.) the company has managed many big
ticket Events in this segment. The company has a huge clientele base of corporates in this business
due to its association with the Times group & due to the advent of Mirchi Activation i.e. cross selling
of radio & Events business advertisements.

Live entertainment industry –

The live entertainment industry (also known as the "events management industry’) comprises a wide gamut
of on-the-ground events that include corporate events felicitations and contests, festivals and personal
events. Over the years, live entertainment business in India has grown into a Rs. 11 billion industry. The
industry has just begun to gather steam, as events increasingly become a part of large corporates and
advertisers' marketing plans. Live entertainment is a huge source of revenue for the global Media and
Entertainment industry. Live entertainment sometimes also called event management- is growing at a fast
and steady rate. The number of corporate awards, television, films, and sports events are increasing rapidly,
helping the sector grow at a fast rate.

Size and Growth of Live Entertainment Industry in India

- Current size: Rs.1100 crore

- Projected size by 2010: Rs.1800 crore

Various types of live entertainment events are:

- Award shows
· Celebrity appearances
· Music concerts
· Variety entertainment shows
· Fashion shows/beauty contests
· Branded Events (promotion and management of brands)
· Televised Events (Events specially created for television channels)

The revenue streams for the live entertainment sector are:

· Sponsorship receipts
· Ticket sales
· Advertising revenues
· Licensing / assignment of Intellectual Property Rights of television, music,
video and internet.

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The major challenge faced by the segment is the unorganized nature of most event management companies,
which continues to hinder the growth of this segment.

360 Degree Entertainment - - - Focus on Owned Events rather then Managed

Events to improve Margins going forward.

In the Event Management business of the company, ENIL plans to lay more emphasis on owned events
rather than managed events. This will give the company a platform to get big ticket events under their
brand & that intern will improve the overall profitability of the business. We see the Event management
business of the company growing at a CAGR of 40% for the period FY2008-2012. The operating margins
for this business are expected to be in the range of 20% for the same period.

360 Degree Entertainment:

ENIL recently hived off its Event management business 360 Degree Entertainment from TIM to a wholly
owned subsidiary ABSL (Alternate Brand Solutions Ltd.) On the Event management business front the
company plans to Focus on “owned” rather than “managed” events. The company also wants to focus more
on life style & Fashion shows.

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Company structure
Bennett Coleman & Co

Publishing Division

The Times of India
Times Global Private

The Economic Times Times Internet

Navbharat Times Treaties
Broadcasting

Maharashtra Times

News Channel –

indiatimes.com
Times Now

Sandhya Times Times Infotainment
Wallet365.com

Vijay Times Media

Zoom Entertainment

Entertainment & Retail Network

Times Music

Ent. Channel – Zoom

Mopix Animation TIML Global Mirchi Movies

Times Wellness

Times Multimedia

World Wide Media

Entertainment (JV with BBC)

Network (India)

Femina
Times Business Solutions
Filmfare

Radio Mirchi
Top Gear

Grazia

Timesjobs.com

Other

SimplyMarry.com

Magicbricks.com
TIM ABSL
Times OOH 360Degrees

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1.1.0 Learning’s

1.1.0 Account Receivable & Payables

Accounts receivable :

Accounts receivable (A/R) is one of a series of accounting transactions dealing with the billing of customers
who owe money to a person, Alternate Brand Solutions Ltd for goods and services that have been provided to
the customer. In most business entities this is typically done by generating an invoice and mailing or
electronically delivering it to the customer, who in turn must pay it within an established timeframe called
credit or payment terms.

An example of a common payment term is Net 30, meaning payment is due in the amount of the invoice 30
days from the date of invoice. Other common payment terms include Net 45 and Net 60 but could in reality be
for any time period agreed upon by the vendor and the customer. This is same with ABSL.

While booking a receivable is accomplished by a simple accounting transaction, the process of maintaining
and collecting payments on the accounts receivable subsidiary account balances can be a full time proposition.
Depending on the industry in practice, accounts receivable payments can be received up to 10 - 15 days after
the due date has been reached. These types of payment practices are sometimes developed by industry
standards, corporate policy, or because of the financial condition of the client.

On a company's balance sheet, accounts receivable is the amount that customers owe to that company.
Sometimes called trade receivables, they are classified as current assets assuming that they are due within one
year. To record a journal entry for a sale on account, one must debit a receivable and credit a revenue account.
When the customer pays off their accounts, one debits cash and credits the receivable in the journal entry. The
ending balance on the trial balance sheet for accounts receivable is always debit.

Business organizations which have become too large to perform such tasks by hand .ABSL are using SAP
(accounting software) on a computer to perform this task.

Accounts payable:
Accounts payable is a file or account that contains money that a person or company owes to suppliers, but
hasn't paid yet (a form of debt). When you receive an invoice you add it to the file, and then you remove it
when you pay. Thus, the A/P is a form of credit that suppliers offer to their purchasers by allowing them to
pay for a product or service after it has already been received.

There is usually a much broader range of services in the A/P file, and ABSL are use accounting software to
track the flow of money into this liability account when they receive invoices and out of it when they make
payments. Increasingly, large firms are using specialized Accounts Payable Automation to automate the paper
and manual elements of processing an organization's invoices.

Commonly, a supplier will ship a product, issue an invoice, and collect payment later, which creates a cash
conversion cycle, a period of time during which the supplier has already paid for raw materials but hasn't been
paid in return by the final customer.

When the invoice arrives it is matched to the packing slip and purchase order, and if all is in order, the invoice
is paid. This is referred to as the three-way match.

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1.1.1 General Ledger Process:
The general ledger is the core of ABSL company’s financial records. These constitute the central “books” of
ABSL system, and every transaction flows through the general ledger. These records remain as a permanent
track of the history of all financial transactions since day one of the life of ABSL Company.
Subledgers and the General Ledger
ABSL accounting system will have a number of subsidiary ledgers (called subledgers) for items such as cash,
accounts receivable, and accounts payable. All the entries that are entered (called posted) to these subledgers
will transact through the general ledger account. For example, when a credit sale posted in the account
receivable subledger turns into cash due to a payment, the transaction will be posted to the general ledger and
the two (cash and accounts receivable) subledgers as well.

There are times when items will go directly to the general ledger without any subledger posting. These are
primarily capital financial transactions that have no operational subledgers. These may include items such as
capital contributions, loan proceeds, loan repayments (principal), and proceeds from sale of assets. These
items will be linked to your balance sheet but not to your profit and loss statement.

1.1.2 MIS (Monthly Information Status/Statement)

MIS report actually means, it is a report conducts day to days transaction details of a company whether it is
small or big. It covers day to day receipts, payments, any contra, sales; purchase etc. any transaction
depending upon on the company. It is monthly submitted to the head of the unit. It is like a monthly
performance report. A financial statement that measures a company's financial performance over a specific
accounting period. Financial performance is assessed by giving a summary of how the business incurred its
revenues and expenses - due to both operating and non-operating activities. It also shows the net profit or
loss incurred over a specific accounting period, typically over a fiscal quarter or year.

Also known as the "profit and loss statement" or "statement of revenue and expense".
ABSL use an income statement to track revenues and expenses so that ABSL can determine the operating
performance of there business over a period of time. ABSL are using these statements to find out what areas
of their business are over budget or under budget. Specific items that are causing unexpected expenditures can
be pinpointed, such as phone, fax, mail, or supply expenses. Income statements can also track dramatic
increases in product returns or cost of goods sold as a percentage of sales. They also can be used to determine
income tax liability.

It is very important to format an income statement so that it is appropriate to the business being conducted.
Different type of monthly report as follows:
- Eventwise Cost & Revenue
- Revenue & DVC
- Outstanding Receivables & Collections
- Profit and Loss Statement
- Cummulative Billings Report
- Clientwise Breakup Revenue
- Sector Analysis
- Value Analysis

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1.1.3 Payment Process

In ABSL, Payment process made from different type (as per requirement).Most probably ABSL prefer
payment through system. But sometime vendor need urgent payment that time they prefer manual
payment process.
Following are different types of Payment process with there respective code & effect.

Process Code Effect Code

Payment Process through system

For Booking Expenses FV-60 Exp…………….Dr KR

Vendor ………...Cr

For Advance to Vendor F-47 Vendor ………...Dr KA

Bank a/c ……….Cr

Payment Process Manually (Chq/DD)

1)100% Paid with original Invoice

i) For booking Expenses FV-60 Exp…………….Dr KR

Vendor ………...Cr

ii) For Payment entry F-53 Vendor ………...Dr

Bank a/c ……….Cr KZ

iii) For attach manual Chq/DD FCH5

2) For Advance Payment F-48 Vendor ………...Dr

Bank a/c ……….Cr KZ

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Process Code Effect Code

Advance Adjustment

100% Advance Settlement

i) Book Expenses 100% FV60 Expenses……….Dr

Vendor ……….....Cr KR

ii) Knock off advance with

KR document 100% F-44

Advance Settlement & Remaining

Payment Process System

i) Book Expenses 100% FV60 Expenses……….Dr

Vendor ……….....Cr KR

ii) Knock off advance with

KR document 50% F-44

iii) Change Business Place F-04

Advance Settlement & Remaining

Payment Process Manually (CHQ/DD)

i) Book Expenses 100% FV60 Expenses……….Dr

Vendor ……….....Cr KR

ii) Knock off advance with

KR document 50% F-44

iii) For Payment Entry F-53

iv) For attach Manual Chq/DD FCH5

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1.1.4 Systems Application & Product (SAP)

Enterprise structure:
Enterprise structure is nothing but Organizational unit structure, which is used to structure Business functions
and Reporting. Organizational units are used in mapping the physical organization of a company on to the
SAP system. There are two types of structures.
External structures: They are used for external reporting purposes.
Ex: Company code
Internal Structure: They are used for Internal reporting purposes.
ex: Business area, Controlling area.

Document type in SAP terminology:

Document type is nothing but two character alphabetical key which is used to classify Accounting documents
and is used to distinguish Business transactions.
And it controls Document storage by storing the documents belonging to the same document type together.
Ex: SA, KA, KR, KZ, DR, DZ etc...

Creating vendor master records:

1. First we need to define Vendor account groups and Number ranges.
2. Assign number ranges to Vendor account groups.
3. Define Reconciliation account for Vendors
4. Then we create a Vendor master using the transaction code XK01.

In the creation of vendor master record, we have to specify

To which account group that Vendor belongs to.
And we have to give the address and Basic Information about that Vendor.
We have to give reconciliation account for that Vendor.

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Create Vendor
Process

Reconciliation account in SAP:

Reconciliation Account is nothing but a G/L account, to which the Transactions posted in Subsidiary legers
are posted automatically.

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1.2.0 Duties and Responsibilities

- Vendor Payments
- Invoicing and Receipts
- Assisting in generation of Daily/ Weekly reports
- Record Keeping

Vendor Payments:

Vendor - I
The SAP R/3 accounts payable manages the accounting data of all of a company’s vendors.
A vendor is company’s business partner who has outstanding payables for received goods or services.
Key areas of accounts payable are:
– Integration of information
– Payment procedures

Vendor – II
Vendor master record processing
The basic data object is the vendor master record, and contains the link to the general ledger,
information on each vendor and the purchasing and accounting functions in the R/3 system
The master record consist of:
– Company code data

Vendor – III
Vendor master record processing
General data
– Basic information such as company address, phone, etc
Company code data
– Individual account information concerning the vendor
– The smallest org. unit for which a set of accounts can be drawn up for reporting purposes
Purchasing organization data
– Information on request for quotation, purchase orders and invoice verification

Vendor – IV
Vendor master record processing
A new master record is made for each individual account group
Two types exist:
– Internal: Created by the system itself
– External: Determined by the user
All information for master records is entered through a customized UI
A master record must be created in order to process transactions

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Vendor – V
Vendor invoice processing
Involves data entry
Invoices may or may not have a vendor master record
If an invoice arrives from a vendor without a master record, it must be created before invoice data can
be entered.

Vendor – VI
Down payment release
The payment program generates down payments to vendors
The first step is to generate a request for down payment and a due date, stored as a document
The system automatically creates the actual down payment, and pays the invoice amount
The system also reports the amounts accurately in a balance sheet.

Vendor – VII
Automatic payment
Automatic payment is carried out in three steps:
– Create payment proposal
Based on specifications in the customer master record

– Process payment proposal

Editing, processing, triggering of payment

– Post payment documents

Generation of payments with matching documents. Payable items are cleared and linked to the

payments

Vendor – VIII
Manual payment
An additional option for processing payments
The following information must always be entered manually:
– The general ledger account number for the bank
– The payment amount
– Any charges/fee
– The document number

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 CHAPTER TWO

2.0 Work Experiences

When I first arrived, it was unclear to me exactly what my duties were to be. This was because my
terms of reference didn’t indicate exactly what I was to work on. Through my senior supervisor
Mr.Rakesh Indulker, my immediate supervisor Mr.Devendra Pednekar and other colleagues within
ABSL, I was able to quickly understand what my work involved and to what extend I was to do it. The
following were some of the motivations that made my work easier and enjoyable:

Working as team with the rest of Alternate Brand Solutions Ltd (ABSL) contributors was something
that I truly treasured then since it was through them that I found it more enjoyable.

Working on projects that I believed would eventually provide a clear understanding on the daily
operation of ABSL. This gave me the morale to work even harder in order to meet deadlines.

Being given a chance to learn and use System Applications & Product (SAP).

Working in ABSL was good work experience for me.

2.1 The Impact of My Work

Most of the task that I did work on focused more on account receivable & payable, MIS. Accounts receivable
is one of a series of accounting transactions dealing with the billing of customers who owe money to a person,
company or organization for goods and services that have been provided to the customer & Accounts payable
is a file or account that contains money that a person or company owes to suppliers, but hasn't paid yet (a
form of debt).
MIS report actually means, it is a report conducts day to days transaction details of a company whether it is
small or big. It covers day to day receipts, payments, any contra, sales; purchase etc. any transaction
depending upon on the company. It is monthly submitted to the head of the unit. It is like a monthly
performance report.
Though my contribution might have been small compared to what the entire team contributed.

2.2 Successes and Short Comings

Successes
There were many successes, both on my side and on the organization side. Personally the following is
what I succeeded on:

First, to me it was a success having been given a chance to handle work on system & application.

I wasn’t familiar with SAP software then but now I can confidently use it with ease. It is one of the
software that really makes finance one of the most enjoyable fields to deal with

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The ABSL largely succeeded a lot through my skills, competence and the overall output of my work
because;

I used to hand in my assignments in time. Therefore enabling ABSL to meet deadlines

Short Comings
There weren’t many short comings since as an intern I was given a lot of support by my supervisor and
other fellow staff. Therefore the major short comings that I did face were:

Time was limited and therefore I had to leave pre-maturely before the complete products of my effort
were finalised.

In terms of cultural differences I must say that nobody should expect it as easy to integrate in a
different culture. But the difficulty was not based on the way I was welcomed here, it was that I
needed some time to feel comfortable with my new environment.

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 CHAPTER THREE

3.0 INTERNSHIP AS A LEARNING PROCESS

While the work I performed during this period was particularly glamorous and equally thrilling, I feel that
this internship period exposed me to experiences which have significantly altered my perception of finance
& Business Accounting.

3.1 My Expectations

My expectation was exceeded. I have not only gained the knowledge from the ABSL but also benefited
from vast experience and knowledge of the Financial & Business Accounting.
I had originally intended to join Times Of India Group as a way to participate directly in financial
Accounting. What this meant is that I wished to participate largely in the SAP based company. I am
worked with ABSL for 45 days. ENIL recently hived off its Event management business 360 Degree
Entertainment from TIM to a wholly owned subsidiary ABSL (Alternate Brand Solutions Ltd.) the
company has managed many big ticket Events in this segment. The company has a huge clientele base of
corporates in this business due to its association with the Times group. I can proudly now say that I learned
a lot from.

3.2 Benefits of the Program

In retrospective, I can say that I benefited from the internship programme than I thought I would in a
number of ways:

Having a rare opportunity to use the knowledge and skills that I had acquired back at the college to
provide in Accounts.

Career-wise, the internship programme undoubtedly enriched my curriculum vitae (CV). Also, having
gotten a chance to interact with most staff, I have had an insight on how to shape my career towards a
humanitarian job in the near future.

The internship programme gave me a chance not only to work with Times of India Group but also a
chance to learn from the best financial analyst & manager experts. This would reflect much onto my
experience.

Working with people from different fields was a rare chance that you can’t easily get from any other
organization in financial sector. Therefore to me this was another opportunity to make friends and
share ideas.

To conclude, I can state that my internship at the ABSL was a rewarding experience and provided me
with some new perspectives that I did not come across during my studies back at the college. I also
have to stress that my colleagues at the ABSL contributed greatly to making my stay there a very
enjoyable one. Particularly, working together with Mr.Rakesh Indulker & Mr.Devendra Pednekar
was a true pleasure and his faith in my abilities was a real source of motivation to date.

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 CHAPTER FOUR

3.0 OBSERVATION AND CONCLUSION

3.1 Observations

During the forty five days, I realized that it takes many steps (even in a smaller company) to achieve a
vision. This was ascertained by a number of observations:

I did observe that teamwork played quite a huge role in attaining most of the Companies. It was
equally important as the ability to work independent. But the goal must be to find a way to combine
it in the right way.

Most of the Times of India Group employees especially those within the ABSL & ENIL (of course
because I worked with them) are committed to their work. Most of them would come to work early,
leave late in the evenings and a time come to work during the weekends in order for them to meet
their deadlines. This is something that I feel few employees in any given organization would do.

Interns are given the much needed supervisory support that goes beyond work related issues. This is
so given the fact that a supervisor would once in a while spend at least part of his/her private time to
talk with an intern over issues that touches on personal life. This was very encouraging.

Even with the aforementioned positive observations, honestly I think that Times of India Group staff
does need frequent common group activity/activities that would bring them together once in a while.
This will eventually result in a stronger bond amongst them. I did observe that the lack of these activities
affects stronger teamwork play.

3.2 Conclusion

In conclusion, I have to attest both of my supervisors (Mr.Rakesh Indulker who was my senior
supervisor and Mr.Devendra Pednekar who was my immediate supervisor) at ABSL for the good job. I
really appreciate the way I have been guided through this internship programme with ABSL, beginning
from the opportunity to take the time I needed to refresh and expand my knowledge in several issues
concerning finance & monthly reports, over a somehow protected period where I could discover and
learn to value my new working environment, and finally earned the confidence to deal with assignments
myself. It is through them that I did enjoy my work everyday.

3.3 Recommendations

I recommend that ABSL should once in a while organize a team building exercises to its staff in order to
bring them closer. This would give staff time to re-examine what they have achieved so far, share
personal experiences and ideas, learn to be together and appreciate the importance of team work at work.

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 APPENDIX

TERMS OF REFERENCE FOR INTERNSHIP

Tushar Balasaheb Bhosale

Organisation Alternate Brand Solutions Ltd

Division Finance
Proposed beginning 01 January 2009
And end 15 February, 2009
Name of Supervisor Mr.Rakesh Indulker
Title Group Head-Finance
Office Alternate Brand Solutions Ltd
Trade Gardens, Ground Floor, Kamala Mills Compound, Senapati
Bapat Marg, Lower Parel (West), Mumbai - 400 013. Tel: +91 22
6753 6983; Fax: +91 22 6753 6900.

Background: The ABSL is focus on event management business. The company plans
to focus on “owned” rather than “managed” events. The company
also wants to focus more on life style & Fashion shows.

Terms of Reference

Under the supervision of the Finance Manager the intern will carry out the following tasks as part of the learning
process: -

1. Vendor Payments;

2. Invoicing and Receipts;

3. Assisting in generation of Daily/ Weekly reports.

4. Record Keeping

5. Monthly Information Status/Statement.

Duration: 45 Days

Name of Supervisor: Mr.Rakesh Indulker Name of Intern: Tushar Bhosale

Signature.................................... Signature................................

Date.................................... Date................................

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 DECLARATION

I Tushar Bhosale, student of International Institute of Planning and Management, Mumbai,

hereby declared that I have completed the project on Study of Finance Department Functions
at Alternate Brand Solutions Ltd as a trainee.

The information submitted by me is true and original and to the best of my knowledge.

PLACE:

DATED:

Signature of student:

(TUSHAR B. BHOSALE)

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 ACKNOWLEDGEMENT

I got the opportunity to do a challenging training in Finance Department with Alternate Brand
Solutions Ltd during 1st January, 2009 to 15th February, 2009 and I would like to thank
Mr.Saurav Banerjee (Sr. Vice President-Finance) & Mr.Sanjay Dwivedi (Jr. Vice President-
Finance) for giving me this opportunity.

At the outset I would like to thank Mr.Rakesh Indulker (Group Head-Finance) &
Mr.Devendra Pednekar (Finance Manager) at Alternate Brand Solutions Ltd. It was my
proud privilege to be trained by them, as I have gained valuable guidance & cooperation from
them, throughout the Internship.

In the end I would like to thank all the employees of Alternate Brand Solutions Ltd in
cooperating and guiding me throughout my training period.

Tushar Bhosale

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