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Industrial Training Report Assignment
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Added on 2020-07-22
Industrial Training Report Assignment
Added on 2020-07-22
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INDUSTRIAL TRAININGREPORT
ACKNOWLEDGEMENTI want to acknowledge some people without whom my industrial training and its reportcould not have been finished successfully. First and foremost, sincere thanks to my collegementor who always guided me at every aspect of my industrial training. Further, I want to thankmy industrial mentor who was there during the coarse of training, who make me aware about thepool of knowledge. I would like to thank my friend, who helped me in compiling this report andreflect the best of it. Last but not the least, a sincere thanks to my parents for always motivatingme to complete my tasks with utmost proficiency.
Table of ContentsACKNOWLEDGEMENT...............................................................................................................2INTRODUCTION...........................................................................................................................1Objective of the report................................................................................................................1Objective of Industrial training...................................................................................................1Description of the report structure..............................................................................................2Background of the company............................................................................................................2DETAILS OF INDUSTRIAL SUPERVISOR................................................................................2Learning Outcomes .........................................................................................................................3Description of the task (1800).....................................................................................................3Achievement of the task sets.......................................................................................................9Limitations and recommendations.................................................................................................11Weekly report / Log Book.............................................................................................................12CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................21APPENDIX....................................................................................................................................23Illustration IndexIllustration 1: Input tax credit..........................................................................................................4Illustration 2: GST Filing.................................................................................................................5Illustration 3: Website of Royal Malaysian Custom Department..................................................23Index of TablesTable 1: Details of industrial supervisor..........................................................................................2
INTRODUCTIONObjective of the reportReport plays an important role as it is a summary of the activities that has been learnt bythe student. An attractive work performed in the report shows how well the student hasundergone his industrial training. Hence, it is important for every student to write the report withutmost care considering all the aspect through which he has undergone during his training. Everystudent is requires preparing the report in the specific time frame and generate the report basedon the learning experience.The report acts as an evidence that the student has gone in the training. Moreover, thelearning outcome can also be easily evaluated through the report. A student goes under fourmonths of industrial training and all the specific points, learning outcomes are jot down in thereport. The student can further use this report to revise the concepts and on the job trainingexperience whose outcomes can be delivered at the time of job interviews.Moving forward, another importance of the report is that the student can record all theactivities that have been performed which can be referred in the future. It further proves that thestudent have been able to learned perform the work that was taught to him during his trainingperiod in the company (Green, 2014). If the student has undergone the training effectively, hecan very well prepare the report in reference to the tasks performed. Objective of Industrial trainingIndustrial training is a program where the student is allowed to work for a company for aspecific time frame. The main aim of this training is to provide practical working environment tothe students. It helps in developing and enhancing the skills of the students and apply theknowledge practically that have been learnt at college level. It helps in developing sense ofresponsibility in to the student. Further, enhancing integrity, self confidence and discipline aswell in the nature of the student. It helps in preparing the student for his job that he will get at theend of the college programme. Further, it acts as a guiding factor where he can understand hisown capabilities of performing a task.Another objective of industrial training is to develop sense of teamwork andcommunication skills in the student that help in making the student connected to the realenvironment of the industry in which he is planning to go after graduation (Council, 2013). Ithelps in inculcating the responsible behaviour in the student. The theories and concepts learnt in1
the lecture room can be applied while undergoing industrial training and the student is able tolearn practical aspect of it. It helps in the expansion of knowledge with respect to the latesttechnology to conduct the task in the industry which makes it easy and convenient to perform thetask later. A student gets an open ground where he can explore himself with respect to the taskdevelop his mind set that he will be able to undertake this job for long term or not. He is able toget a hint of his own abilities to perform a particular job (An, 2014). He is able to meet high rankofficials and manager, attend meeting and seminars which helps him to inculcate a decorum ofcorporate sector. Moreover, a student is able to instil problem solving behaviour based on theissued being incorporated during his internship. Hence, industrial training plays an important roleduring the coarse of graduation which is compulsory for every student to attend for a specifiedtime.Description of the report structureBackground of the companyLime Korea (M) Bhd. came into existence in 23 December 2015 and incorporated inMalaysia. The company is involved in supplying and manufacturing Lime products in Malaysia.It further helps in providing and delivering environmental friendly solutions to it clients. ThePrimary business line of the company is supplying lime products including, lime stone, calciumcarbonate powder, Calcium oxide powder, Quicklime and other products. All the products ofLime Stone are certified by SIRIM, Malaysia. Lime is considered as most versatile chemicalwhich has proved to be suitable for steel industry, water treatment, agriculture, plastering etc.The company is quite new yet have been able to make his own space in the industry.DETAILS OF INDUSTRIAL SUPERVISORTable 1: Details of industrial supervisorPERSONAL INFORMATIONNATIONALITYMALAYSIANMARITAL STATUSMARRIEDAGE42 YearsGENDERMALE2
Years of ExperienceJuly 2004 - CurrentCOMPANY INFORMATIONCOMPANY NAMELIME KOREA (M) BHDPOSITIONSENIOR ACCOUNT OFFICERLearning Outcomes Description of the task (1800)Being an intern with Lime Korea (M) Bhd., there are various services that are required tobe rendered. Hence, working in accountants department there were various responsibilities thatwere necessary to be fulfilled, which includes, Preparation of financial statementsFinancial statement are the statements responsible to reflect the current financial positionof the company. The three basic financial statements are profits and loss accounts, cash flowstatement and balance sheet. Profit and loss account shows net income earned by the companyover a period. Cash flow statement indicates inflow and outflow of cash (Sikka and Willmott,2013). In the end, balance sheet is prepared at the end of the year indicating entity's assets,liabilities and net worth.In order to prepare financial statements, it was important to gather all the relevant datawhich was required to perform the activity. Hence, to prepare income statement which playforemost importance, the responsibility was to gather all income and expenses through which areincurred by the company. Considering all the rules and regulations stated in InternationalFinancial reporting Standards (IFRS) different items are recorded in the books. These are furtherresponsible to generate the desired results (Kulikova, Garyncev and Goshunova, 2015).In order to prepare cash flow statement for the entity, it is first required to collect all thecash inflows and outflows being made by the enterprise. It helps in ascertaining that how muchcash is available with the company after completing all the cash transaction. The net flow isgenerated through deducting all the outflows from the cash inflows. It also helps in stating thathow liquid the company is at a particular point of time (Armstrong, 2014). 3
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