Bargains Group Internship Journal: Business Development Report

This report is an internship journal documenting the experiences of Kishankumar Patel, a Market Marketing Intern at Bargains Group in Toronto. The journal details the intern's tasks and learning outcomes over four days. The initial days involved familiarizing with company data, including competitors, products, and audit procedures. The intern analyzed financial statements, identified numerical errors, and gained experience with Case Ware software. Tasks included reviewing management letters, making financial statements, and translating accounting sheets. The internship provided insights into financial statement preparation, audit processes, and various services offered by the organization. The journal highlights the challenges faced and the skills acquired during the internship, offering a comprehensive overview of the intern's practical experience in business development.

Running Head: INTERNSHIP JOURNAL 1
Internship Journal (20 Hours)
Business Development Internship
Name - Kishankumar Patel
Company Name – Bargains Group
I have been a Market Marketing Intern at Bargains Company, Toronto. The first day of an
internship appears to be very challenging when any person of an organization, thus, does not
have time to print temporary reports to guide me to work. On the first day the job with our own
business was given to read the appraisal software. My supervisor was named Gargi who gave me
the book which had all data of our company like competitors, products details, prices of products
etc. which I had already read on website. It was exciting to see all these forms as well as the
documents that this organization uses since it made me remember audit procedures I used to
learn in school as well as their application. After that she told me to make word file of our
company products, competitors, details of our competitors, growth of our company and which
ethics would be great to develop marketing and business. On the same week, I received the files
of one of their big customers from my mentor.

INTERNSHIP JOURNAL 2
Actually, I thought this would be tiresome, but this part was more interesting than I
thought. In spite of having the basic knowledge about the fundamentals of audit, documents and
files of the audit gave me more clarification and explanation about how auditing process is done
in big organization.
I was also requested by my client to review the final drafts of the financial statements
which the organization was planning to give to their clients. I felt very good as I am interested in
task. I was assigned to analyze the cash flow statements, the retained earnings statement, balance
sheet and the income statement. I was also responsible auditing the statements and make
correction if needed. During this process, I discovered that there were numerical errors in two
reports. I was appreciated for pointing out these mistakes as this was the final drafts which were
to be submitted to clients. She was not expecting from me that I could figure out any mistake.
Learning outcomes:
 The GAAP Manual I learned during my audit procedure and the audit handbook I
could appreciate.
 I have an opportunity to learn how to record audit work documents, categorize
audit work documents and how to register audit documents.
 I have known how to take a stance and review the accounting statements for
errors.
 Learnt how to check for the current numbers in the audit files.
Day 2
On the second day I took the file of auditing and I revised it then I requested the manager
of audit to give me some work to do. The audit manager gave me a management letter which I

INTERNSHIP JOURNAL 3
was supposed to review it and clarify how I should do it. The audit manager was very proud of
me since I noticed some numerical as well as the organization mistakes in the management letter.
He also gave ten more letters to look for any mistakes and just like the management letter I got
some mistakes too.
On the same day the audit manager left and because he knew and recognized my work,
he approached me and requested one member of staff to give me a case and gave me authority to
make the financial statements. I was to make financial statements through the use of certain
software used by this organization. The software that I used is known as the case ware. Case
ware is software that is mostly used while the files are audited therefore this made me want to
learn more about case ware and how to use it. This work was a little bit challenging since I was
required to group sub accounts as well as allocating them to their primary accounts and then
combine the primary accounts to have an outcome of a single figure in the financial statements.
It wasn’t an easier task since several accounts were same and also several accounts would fit in
more than one primary account. Since the audit manager was not there and no one would have
helped me, I made decisions myself in order to make the income statement without mistakes
something that I succeeded.
Learning outcomes:
- I was able to understand how the management letters are revised in a more organized
manner.
- I also learnt how to make the letters of management which consists of the financial
statement as well as tips for increasing the client based on the data.

INTERNSHIP JOURNAL 4
- I learnt more about the auditing software case ware and how it is used in making the
financial statements.
Day 3
On the third day I did the work that I had done earlier of revising the final audit reports of
the financial statements. Organization reports that I was revising were totally different therefore I
was familiarized to new language and reports. Since I was able to revise twenty audits reports
and discover mistakes within four hours, my mentor recognized my work. This is mainly because
I took less time to review these audit reports.
On the same day I did a job of making financial guide as well as the managerial guide
real estate organization. My task was employing workers, ensuring that I pay them their salary as
well as arranging their leave days and holidays. The most challenging part was that I had to write
all the procedures in French language something that I had never done before. I was given a
challenging task of translating the accounting sheets and modules of this system from French to
English but through the use of Shenzhen Company “Accountancy and Business Dictionary” I
succeeded.
Learning outcomes:
- I learnt more on financial statements of franchise organization and how it differs from
other organizations.
- I was able to learn how to make managerial guide as well as the financial guide.
- I also learnt how to translate financial statements from English to French and vice
versa.

INTERNSHIP JOURNAL 5
Day4
On the fourth day I felt relaxed now after learning many things. I revised the audit reports
on this day as well as financial statements. I was able to understand other forms of services
performed by the organization. One of the forms of services that I learned was revising which is
less in scope than an audit. I was learning how I should make financial statements for small
organizations which do not have history of accounting records.
On this day I made financial statements from beginning as well as the income statements.
I also prepared cash flows statements and the financial positions statements. They were really
challenging to prepare since they confused me a lot. It was a challenging task but at the same
time it was interesting part of the job. I took almost nine hours to complete the job. However
through this task learnt more on the source of each account and its correct position.
Learning outcomes:
- I was able to understand other forms of services performed by the
organization.
- I learnt how to create financial statements from beginning through the use of
the Case Ware auditing system.
- I also understood other services less in scope than audit for an instance review
as well as compilation.