Internship Report submitted to Bengaluru City University in partial

fulfilment of the requirement for the award of the Degree of Bachelor of

Commerce

Bengaluru City University

By

PREETHI.D

Register Number: U18AC21C0066

Under the Guidance of

ASSOCIATE PROF. SHILPA C.S

Seshadripuram Institute of Commerce & Management

SESHADRIPURAM INSTITUTE OF COMMERCE AND MANAGEMENT

(Affiliated to Bengaluru City University)
NAAC ACCREDITED 'A' GRADE
#40, Girls' School Street, Seshadripuram, Bengaluru-560020.
Ph: 080-22955382 Fax:080-23462472
info@[Link] [Link]
DECLARATION BY THE STUDENT

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I hereby declare that the Internship report prepared by me is the result of the original work
undertaken at ‘R.S PRABHU & COMPANY’ carried out by me under the guidance of Associate
Prof. Shilpa C.S in partial fulfilment for the award of Bachelor of Commerce (BCOM) by
Bengaluru City University.

I also declare that this report is the outcome of my own efforts and that it has not been submitted
to any other university or Institute for the award of any other degree or Diploma or Certificate.

Place: Bengaluru Name: PREETHI.D

Date: 15-05-2024 Register Number: U18AC21C0066

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 SESHADRIPURAM EDUCATIONAL TRUST
SESHADRIPURAM INSTITUTE OF COMMERCE AND MANAGEMENT
(Affiliated to Bengaluru City University) NAAC ACCREDITED ‘A’ GRADE
# No. 40, Girls’ School Street, Seshadripuram, Bengaluru-560020.
Ph: 080-22955382 Fax:080-23462472 info@[Link] [Link]

CERTIFICATE

Certified that PREETHI.D is a student of Final year Bachelor of Commerce of Seshadripuram

Institute of Commerce and Management, Bangalore-20. Has submitted a Internship Report
prepared in partial fulfilment of the requirements for the award of the Degree of "Bachelor of
Commerce" of Bengaluru City University and has not formed a basis for the award of any other
Degree or Diploma of any other University.

Prof. Vidya Shivannanvar

PRINCIPAL

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 SESHADRIPURAM EDUCATIONAL TRUST
SESHADRIPURAM INSTITUTE OF COMMERCE AND MANAGEMENT
(Affiliated to Bengaluru City University) NAAC ACCREDITED ‘A’ GRADE
# No. 40, Girls’ School Street, Seshadripuram, Bengaluru-560020.
Ph: 080-22955382 Fax:080-23462472 info@[Link] [Link]

CERTIFICATE

Certified that PREETHI.D is a student of Final year Bachelor of Commerce of Seshadripuram

Institute of Commerce and Management, Bangalore-20. Has submitted a Internship Report is
prepared under the guidance of faculty of our college in partial fulfilment of the requirements for
the award of the Degree of "Bachelor of Commerce" of Bengaluru City University and has not
formed a basis for the award of any other Degree or Diploma of any University or Institution.

Assoc. Prof. Punitha G

Head of the Department

SESHADRIPURAM EDUCATIONAL TRUST

SESHADRIPURAM INSTITUTE OF COMMERCE AND MANAGEMENT

[4]
 (Affiliated to Bengaluru City University) NAAC ACCREDITED ‘A’ GRADE
# No. 40, Girls’ School Street, Seshadripuram, Bengaluru-560020.
Ph: 080-22955382 Fax:080-23462472 info@[Link] [Link]

GUIDE CERTIFICATE

This is to certify that PREETHI.D bearing university register number U18AC21C0066 has
prepared the report under my guidance. This report has not formed a basis for awarding any
other Degree/Diploma/ Certificate by this University or any other University.

Place: Bengaluru
Date: 15-05-2024 Signature of the Guide

ACKNOWLEDGEMENT

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I take this as an opportunity to express my profound gratitude to all who have been significant
contributors to this Internship Report.

I convey my deepest gratitude to all the staff members of various departments of R.S. PRABHU
& COMPANY and Proprietor. R. Shiva Prabhu who has guided us in the company.

I express my deepest sense of gratitude to Prof. Vidya Shivannanvar, Principle Seshadripuram

Institute of Commerce and Management for her constant support.

I am thankful to Associate Prof. Punitha.G Head, Department of Commerce and Management,

Seshadripuram Institute of Commerce and Management, for her support, guidance, and
encouragement.

I am grateful to Associate Prof. Shilpa C. S, Department of Commerce and Management,

Seshadripuram Institute of Commerce and Management, for sparing her valuable time and
guiding in the successful completion of the report.

Place: Bengaluru ( PREETHI.D )

Date: 15-05-2024 Signature of Student

TABLE OF CONTENT

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SL NO CONTENT

01 PROFILE OF THE COMPANY

02 INTRODUCTION

03 BENEFITS OF INTERNSHIP

04 WORK UNDERTAKEN IN THE COMPANY

05 LEARNING EXPERIENCE

06 MY CONTRIBUTIONS

07 SUGGESTIONS

08 INTERNSHIP EXPERIENCE IN COMPANY

09 CONCLUSION

10 SWOT ANALYSIS

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 PROFILE OF THE COMPANY

NAME OF THE COMPANY R.S. PRABHU & COMPANY

REGISTRATION OFFICE Bilwashree Apartments, No. 580, 2nd Floor,2nd

Main,2nd Block, Rajajinagar, Bangalore-
560010

PROPRIETOR R. SHIVA PRABHU

CONTACT NUMBER 9900140718

FIRM REG. N0. 002703S

INTRODUCTION

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An internship is a professional learning experience that offers meaningful, practical work related
to a student’s field of study or career interest. An internship gives a student the opportunity for
career exploration and development, and to learn new skills.

Such opportunity was given to me by ‘R.S. PRABHU & COMPANY’

The company was started in 1985 and they have an in-depth knowledge in financial matters.
They are expert financial professionals who take care of budgeting, auditing, taxing and business
strategies for clients. By taking care of the financial matters of the business, they help them scale
great heights.

The firm is expertise in serving clients from various industries, such as manufacturing, services,
healthcare, and technology. They also offer specialized services tailored to the needs of specific
sectors or businesses.

The firm likely emphasizes professional development and continuous learning for its staff. This
could involve providing training programs, seminars, and workshops to keep employees updated
on industry trends, regulatory changes, and emerging technologies.

R.S. Prabhu & Company is recognized for its quality of service, adherence to professional
standards, and ethical practices within the accounting profession. Positive client testimonials,
industry awards, and certifications can indicate the firm's reputation and credibility.

R.S. Prabhu & Company likely leverages technology and software tools to enhance its services
and streamline operations. This could include using accounting software, tax preparation
software, and digital communication tools to serve clients efficiently.

I started my internship from 05-11-2023 to 05-12-2023 in ‘R.S. PRABHU & COMPANY’. R.S.
PRABHU & COMPANY gives opportunity for internship in very less number as it is a small
scale distribution company by which the students can make most use of it.

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 Adding on new clients frequently by customer satisfactory service
 They also provide students with best opportunity to learn about Auditing Data entry, Taxation
services etc.
 They have good client relationship.

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 BENEFITS OF INTERNSHIP

1. Hands-on Experience: Internships provide students with practical, real-world

experience in their field of study.

2. Skill Development: Internships offer opportunities for students to develop and enhance a
wide range of skills, technical skills, transferable skills such as communication,
teamwork, problem-solving, and time management.

3. Networking Opportunities: Internships allow students to build professional networks by

interacting with professionals and mentors.

4. Resume Building: Internships provide students with valuable experience to include on

their resumes, making them more competitive in the job market.

5. Exploration of Career Paths: Internships allow students to explore different career paths
within their field of study and gain insight into various industries, job roles, and
organizational cultures.

6. Potential for Job Offers: Internships can sometimes lead to job offers upon graduation.
Employers may choose to hire interns who have demonstrated their abilities and fit
within the organization during the internship period, saving time and resources on
recruitment and training.

7. Personal Growth: Internships provide opportunities for personal growth and self-
discovery. Students often gain confidence, independence, and a deeper understanding of
their strengths, weaknesses, and career interests through their internship experiences.

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 WORK UNDERTAKEN IN ORGANIZATION

[Link] Date Time Activities Learning outcomes

1 5-11-23 12pm Orientation On the First day of my

to internship I was just given
2pm the brief introduction of the
company’s mission ,
services and achievements.

2 6-11-23 12pm Test on basics. On the second day I was

to given a test regarding
6pm Journal entries, General
knowledge, Basics of
accounting.

3 7-11-23 12pm Accounting software On the third day they gave

to proficiency. me training on accounting
6pm software.

4 8-11-23 12pm Accounting software I had to practice entering

to proficiency. transactions and generate
6pm reports with the help of
software.

5 9-11-23 12pm Audit procedures and I had to about learn about

to standards. auditing procedures and
6pm standards.

6 10-11- 12pm Audit procedures and I was given test on audit

23 to standards. procedures and standards.

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 6pm

7 11-11- 12pm Communication and Enhancing communication

23 to teamwork skills. and teamwork skills through
6pm activities.

8 13-11- 12pm Improve time Managing tasks and deadline

23 to management and effectively. Create and
6pm organisational skills. maintain files and
documentation.

9 14-11- 12pm Develop presentation and I was told to prepare

23 to reporting skills. presentations and practice
6pm delivering presentations.

10 15-11- 12pm Introduction to GST. Introduction on basics of

23 to GST.
6pm

11 16-11- 12pm GST rates and Studying GST rates,

23 to classification. structure for goods and
6pm services, exemptions.

12 17-11- 12pm Implementation of GST. Understand the concept and

23 to implementation of GST.
6pm

13 18-11- 12pm Implementation of GST. Implementation of GST in

23 to reports.
6pm

14 20-11- 12pm Introduction to Tally. Learning about tally basics

23 to and data entry.

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 6pm

15 22-11- 12pm Introduction to Tally Learning software features

23 to software. and functionalities of Tally.
6pm

16 23-11- 12pm Implementation of Tally. Implementation of Tally in

23 to reports.
6pm

17 24-11- 12pm Budgeting Understanding budgeting

23 to principles.
6pm

18 25-11- 12pm Developing Audit skills Learning Audit software

23 to tools.
6pm

19 27-11- 12pm Learn about risks and Know how firms handle
23 to controls. risks and how they avoid
6pm problems.

20 28-11- 12pm Under firm strategy Learn how firms make big
23 to decisions, help with
6pm planning budgets.

21 29-11- 12pm Improve communication Practice explaining finance

23 to stuff.
6pm Skills.

22 30-11- 12pm Regulatory compliance. Learning and applying

23 to relevant laws and

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 6pm regulations.

23 31-11- 12pm Taxation Gather data for Taxation

23 to filings
6pm

24 1-12-23 12pm Presentation and Group presentations and

to reporting. reporting.
6pm

25 2-12-23 12pm Accounting software. Data entry, journal entry and

to generating reports.
6pm

26 3-12-23 12pm Accounting software. Data entry, journal entry and

to generating reports.
6pm

27 4-12-23 12pm Receiving feedback and Meeting with mentors for

to Evaluation. feedback.
4pm

28 5-12-23 12pm Reflecting on the Writing a reflection paper.

to internship experience.
4pm

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 LEARNING EXPERIENCE

The internship experience at R.S PRABHU & COMPANY has been an enriching journey,
offering invaluable insights into the world of accounting, taxation, auditing, and financial
management. I had the opportunity to immerse myself in various aspects of professional
accounting practice, under the guidance of professionals.

KNOWLEDGE

 Gain practical exposure to accounting principles and practices.

 Understand the role of a Chartered Accountant in client services and advisory.

 Develop proficiency in utilizing accounting software and tools.

 Understanding of taxation laws and compliance

 Participate in audit engagements to understand the process of assurance.

ACHIEVEMENTS

 Received positive feedback from supervisors for attention to detail and analytical skills.

 Successfully completed assigned tasks within deadlines.

 Developed a comprehensive understanding of auditing, taxation, and financial

management practices.

 Improved communication skills through interaction sessions and group activities.

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  Enhanced time management and multitasking abilities to meet project deadlines.

Challenges

 Understanding complex tax regulations and their implications on client businesses.

 Adapting to new software and tools used in the profession.

 Balancing multiple tasks and deadlines in a fast-paced work environment.

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 MY CONTRIBUTION

My contribution to the firm was to research, gather information on tax regulations,

accounting standards.

I was tasked with analysing financial data, such as balance sheets, income statements,
and cash flow statements.

I was instructed to maintain accurate documents, records, organizing client files,

preparing audit working papers.

I was told look over documents to make sure they're correct and follow the rules.
Making sure there aren't any mistakes or things missing.

Preparing presentations for meetings.

Gathering client information.

Support financial planning efforts by assisting with budget preparation, expense tracking,
and financial analysis.

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 SUGGESTIONS

 Employee Recognition Programs.

 Employee Feedback.

 Create opportunities for employees to share non-work interests.

 Provide employees with flexibility.

 collaboration between employees.

 relationships with new employees.

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 INTERNSHIP EXPERIENCE IN COMPANY

In field work I found out that practical skills cannot be acquired by just reading textbooks and
attending lectures only, but one needs field attachment to skills, knowledge, and experience real
life of work such as, filling, Recording, Printing, and photocopying and computer skills like
running different computer software application. During the internship, we get to do all sorts of
tasks, from helping with audits and taxes to meeting clients. We learn a ton from professionals,
make connections, and improve our skills.

Plus, we figure out what it means to be professional and ethical in the accounting world.
Overall, it's a hands-on experience that sets us up nicely for our future career. I learned not only
the technical aspects of accounting but also the importance of attention to detail, accuracy, and
adherence to professional standards. Participating in group activities and presentations, where I
had the opportunity to apply my knowledge and contribute to meaningful discussions about
financial strategies.

Experience at the firm was instrumental in my personal and professional growth. Working at
Company provided me with valuable exposure to current industry trends, best practices and
ongoing and emerging technologies. By staying updated on the latest developments in the firm, I
was able to apply this knowledge to my work.

The supportive and inclusive culture at the firm provided me with a learning environment where
I could seek guidance, ask questions, and receive constructive feedback. Mentors and supervisors
played a crucial role in guiding me through challenging tasks, providing mentorship, and
facilitating my professional development. Their mentorship and encouragement empowered me
to take ownership of my learning and strive for excellence in all my tasks.

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 CONCLUSION

Internship has been an invaluable learning experience, providing me with practical skills and
insights essential for my future career. Throughout the internship, I have gained hands-on
experience in financial analysis, auditing, taxation, and accounting software usage.

This experience has not only enhanced my technical proficiency but also strengthened my
communication, time management, and problem-solving abilities. Furthermore, the internship
has reinforced the importance of ethics and professionalism in the accounting profession,
instilling in me values of integrity, accountability, and respect. I am confident that the
knowledge and skills acquired during this internship will serve as a solid foundation.

Additionally, I was able to contribute to the company's goals through my work and ideas. I
was
encouraged to provide feedback and suggestions for improvement, and my input was valued
and taken into consideration. This allowed me to develop my critical thinking skills and gain
experience.

I had the opportunity to observe and work with professionals in various roles within the
organization. This exposure allowed me to gain a better understanding of how different
departments and teams work together to achieve the company's goals. I was able to learn from
their experiences and see first-hand how they applied their skills to achieve
success in their respective roles.

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 SWOC ANALYSIS

 STRENGTHS:
1. Strong communication skills.
2. Leadership abilities.
3. Creativity and innovation.

 WEAKNESS:
1. Low social capital
2. Easily distracted
3. Procrastination

 OPPORTUNITY:
1. Improve Communication
2. Perform More Extracurricular Activities
3. Improve Academically

 THREATS:
1. Academic Challenges
2. Poor mental Breakdown
3. Career Uncertainty

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