Industrial Placement Portfolio: Business and Law Report

This industrial placement portfolio is a reflective report detailing a student's experience during an internship at Best Buy enterprise Limited, focusing on the accounting aspects. The report is divided into two parts: preparation for placement and a reflective diary. The student discusses the company's ...Read More

Industrial Placement Portfolio

Table of Contents
INTRODUCTION...........................................................................................................................3
PART A: PREPARATION FOR PLACEMENT............................................................................3
PART B: REFLECTIVE DIARY OF INDUSTRIAL PLACEMENT............................................4
About Company...........................................................................................................................4
About Project...............................................................................................................................5
PERSONAL SKILLS THAT WERE ELEVATED........................................................................6
DESCRIPTIVE REFLECTION......................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Placements are regarded to be the considerable criteria where students from all over the
universities will get into certain industries for their drop techniques. It is a well-known and real
fact that there are certain employee evaluation that are being studied by students and gain
experience. The industrial placement experience is nothing but the onset of work criteria where
they will get in contact with different regulations that are usually not familiar to them. The
placement work is regarded to be the one that is being guided by a supervisor of the industry
where they are ought to work (Mashayekh and et.al, 2017). This support is usually provided by
the University from which the students are going ahead with industrial placement. In order to get
placed in certain industrial aspects that are in regard to the study post wedding it is necessary that
they cope up with all the challenges of placement. It is not a cakewalk to go through because
there are a lot of implication that fall in this regard. All these implications are usually dealt by
the management of the university where the person is usually graduated. The support they
provide will help them to move ahead with the circumstances of work approach and that will
help them to grow individually. The entire report process upon the industrial placement portfolio
and the different aspects that are being highlighted. It is necessary to understand the strategies as
well as the components that fall in this regard for example that of a curriculum vitae.
PART A: PREPARATION FOR PLACEMENT
The placement for industrial job opportunities is said to be one of the biggest procedure that is to
be accomplished upon attending skills which are required to secure a position. Placement
preparation is almost done with an experience or by a guidance that is attended by different
professionals who are already in to different industrial sectors. It is more like an internship
through which one can easily attend the qualities that are required for a job opportunity.
Basically these are ought to be taught by university at there are certain circumstances where
people get to experience the fact that are related to different industrial aspects. the placement
preparation will include the following:
Pre placement presentation: this is when the organisations that have come to recruit people
from the organisations or the universities they get to present their industry with definite
presentations (Forder and Fowlie). This will include all the factors and components of their
organisation such that people who are selected to get into the company will understand the

prospects they are dealing with. This plays a major role because it will develop a potential in the
candidates that that was elected.
Qualifications: qualifications play a major role in determining the standards of a placement. An
individual when is in a hustle to get into a company for an organisation will have to purchase
some standard potential and qualifications which are mandatory. Usually the sectors are the
industries that are visiting the universities will pick up people from their stream and particularly
their focus upon them. This is because a formula that deal with will only belong to the study that
is required in their own field. In this regard where I being the accounting assistant intern in the
organisation Best Buy enterprise Limited the qualifications I need to process in this regard will
include those of the accounting process. These are to be enhanced at regular intervals such that
the chances of getting placed will be more.
Group discussion: group discussion is one of those criteria where complete set of knowledge is
determined by the activity of representation through speaking. This is usually done where the
companies that are into the organisation for the recruitment process will get to incorporate the
ideologies of different streams that are required for them to clear the interview. In this regard
they will give a scenario where people will have to form into a group and will have to identify
the choices that are to be discussed as a group (Murray and et.al, 2017). The potential up to
which an individual can speak will therefore be known in this particular format.
Curriculum vitae: this is one of the important procedure or the mechanism that will have to be
carry forwarded while preparing for a placement. A scenario where a curriculum vitae is being
processed by an individual that is heading for an interview process will include all the highlights
of whatever is to be described about. Curriculum vitae will have to be prepared in such a manner
that will have to be very professional while heading for an industrial interview. Including points
that are relatable for a particular position and most probably the one that is mentioned here is the
accounting assistant and will have to contain all the qualifications that are related to it. Personal
biodata without going completely into the personal details and depicting the standards of skills
and accomplishments will be a boon to the placement criteria of.
PART B: REFLECTIVE DIARY OF INDUSTRIAL PLACEMENT
About Company
Upon taking an internship in to the organisation Best Buy enterprise Limited which is more
dealing where to the accountant as well as the policies that are in relation to it. What I got to

understand the with regard to the work prospect of this organisation is that there are a set of
officers that will work towards all the processes which are significant and are in control with
certain accounts. There are a lot of financial documents that are to be categorised and
demonstrated based on the different titles which are to be worked for (Kim, 2019). Also there are
certain circumstances where financial documents along with reports will have to be made such
that they will help clients to decide upon different financial decisions. There is a lot to learn and
this company with regard to the field I am into. Being an accountant where all the data that is to
be required and to be process include those of the calculations as well as the financial
matriculation and that is being entered in this organisation. Also preparing tax returns is
completely being understood under the maintenance of books of accounts. In this organisation
preparation of budgets is also being taught and a complete knowledge regarding the transactions
and reconciling account balances is also practiced. Responsibilities of account is being
understood being an intern in this organisation.
About Project
The project that I have been dealing in the organisation Best Buy shares the analysis of financial
statements. This project revolves around the accounting. Almost half of the economy is mostly
towards household aspects and also there are certain entities like that of congested inter
industrialisation. This is regarded to be one of the immense economic activity and the biggest
sector that is a contributor for economy. Almost 70% of the population everywhere are into
households and you might be into retailing. The work in this regard for being an assistant
accountant is to look after all the profitability aspects of the business. Also, there is a probability
of maintaining the Assets of the management or the firm that they are dealing with. There is also
a chance of dealing the short term and long-term financial position and that with regard to the
client is said to be one of the recommendation based. All the financial statements will include
subtle techniques which are related to the capital requirement and the investment. Different
techniques are ought to be understood and some will be dealing with a comparison between the
balance sheet and income statement. The profitability ratio will also be known along with the
liquidity ratio (van Vuuren and et.al, 2019, June). Simple mathematical tools are required in
order to get over the circumstances like that of averages percentages. Since this is an accounting
project this also requires certain tools like that of ratios and trend analysis along with the
statistical tools. The limitations of this project are as follows:

The sample size: usually when dealing with a project the sample size of the project will have to
be at a convenient size because the data which is to be analysed will have to be represented in a
certain format. This observation will require right amount of analysis only when the credible data
reaches the maximum size of the project. But in this regard the sample size is very small and
only 5 data are provided to be analysed.
Considerations: the project has many considerations like that of monetary factors and non-
monetary factors are not yet considered. The balance will have to be maintained between the
monetary factors and non-monetary factors which is not particularly maintained in this study. All
the data used in this project is of secondary data basis and therefore it will be a kind of hectic.
PERSONAL SKILLS THAT WERE ELEVATED
The project that we took up as a part of the organisational amendment is said to be one of those
approaches where we have dealt with the agricultural sector and their Finance Management.
Finance management is said to be one of the key criteria for every organisation because their
annual budget is dependent upon the fact that every resource that has been used in their
organisational operation is said to be highlighted (Sama and et.al, 2020). Being an accountant the
output with regard to this that I have produced include the yearly project for the financial report
which entirely consists of the data that has been reflected over the scenario which was explained
by the client.
Problem solving: problem solving skill is said to be one of those organisational requirement that
has been processed by me while dealing with all the financial aspects of the organisation. In this
criteria there were complex problems that were related to all the calculations and this requires
appropriate decision making and spontaneity (Adnan and et.al). Prepare data catalogue related to
the financial management.
Decision making: while dealing with the accounts it is one of the most tedious task to
accomplish because the process involves gathering information and the decision-making with
regard to the knowledge that is perceived by the information that is gathered with regard to all
the agricultural aspects and finance is said to be a risk oriented one that is being tackled.
Management and leadership: the prospect of leadership in this criteria will reflect along the
choices that are being made as well as guiding the processes when working as a team. Although
there were no circumstances of me being a leader but the leadership that is oriented towards the
project that I was dealing that based on the agricultural aspect is said to be one of the probable

quality. The mentor I was allotted with was guiding made throughout the project and was
teaching me everything that is in regard to the project. The responsibility of mentor towards my
contribution is said to be one of the greatest approach and the ethical dilemma that is falling in
this regard as something sustainable.
Strategic thinking and planning: computation is not a small topic to discuss that there are
certain circumstances where the financial data that is to be calculated or managed over requires
all the information because even a single drop out will change the entire scenario of the financial
document (Ziakas and Getz, 2020). The logic as well as the reasons that are oriented in collecting
the data is said to be one of the biggest barrier that is to be accomplished. Calculations cannot be
performed on assumptions and therefore the thinking process is a considerable fact in this
scenario. There is a lot of calculation that is put into while dealing with the annual budget that is
to be calculated over the organisation that we are dealing with.
Commercial awareness: financial management company sari includes commercial awareness. It
is not until when a person yes completely oriented where the commercial prospective that is to be
dealt with regard to the project that he or she can take over all the processes that are included in
computing the choices. I have personally acquired this by researching various hypothetical
projects such that I might gain some awareness regarding the things I am dealing with.
Resilience: when there are hardship that are in the way of dealing with the aspects of project that
cannot always be a cakewalk. There are certain feedbacks that will arise as a part of the project.
All that is required by me is to win over all the circumstances and that is what I usually do. I
used to come back with a very good approach and used to succeed the task.
Innovation: being an accountant there is no big deal to go with innovation yet there are certain
circumstances where innovation is usually required. Inhibiting Technology into the computation
part as well as a calculating the choices need to be little because there is a hectic data that is to be
dealt with when it comes to financial management (Joubert and Pretorius, 2017). The internet
satus oriented with the work or the project that we are doing well have to be a good speed such
that work will be completed within stipulated time.
Interpersonal skills and communication: I have a good communication skills as well as the
interpersonal skills. I got to understand when I was communicating with the team and rapidly I
got into their decision-making as well as they started taking my decisions as well. There are
business reports that are to be prepared by me and those with regard to the financial

collaborations for submitted without negotiations. I had a good communication with the team as
well as imbibing all the skills did not take much time.
Professional commitment: while dealing with any project the first and the foremost thing that is
to be inhibited is the professional commitment. Coming from a background where there is a lot
of hectic schedule that is oriented will require a lot of potential to move ahead. I got to
understand the importance of professional commitment when I was given a hectic schedule and I
had to manage all the reports all at once (Pennbrant and et.al, 2019). The professional
commitment w will push ahead and individual towards growth prospects. The compliance as
well as the code of conduct were successfully maintained and there is no obligation that arise as
a part of my work.
Accounting activities
Prepare Data Catalogue Related To The Financial Management
Analyse Financial Data
Safeguard Business Decisions
Carry Supplier Records
Help In Revenue Generation
Carry Expenditure Records
Carry Statement Receipts On Monthly And Yearly Basis
Help In Company System And Its Software
Proficient In Managing Required Documents
Handle Implications Of Tax
Monitoring Of Billing
Monitoring Of Taxation System
Thorough With Custom Based Regulations
Proficient In Expenditure On Not Claimable Basis
Knows About The Custom Duty Entry
Properly Handle Exchange Rate Reviews
Carry Import Purchase Records
Know The Accounting Of Commercial Goods
Proficient In Self-Assessment Authorization
Thorough With Non- Performing Asset

Deals With Commercial Invoices Of Imported Goods
Deals With Chartered Accounting
Deals With Interim Accounting
Releasing Of Blueprints And Equipment Details
Deals With Certified Cheque System
Having A Complete Distributor Details
Look In To The Agreement With Government Bodies
Documentation Of Transmit To Distributors
Description Of External Policies
Description Of Dispatch And Discrepancies
DESCRIPTIVE REFLECTION
The work experience is said to be one of the most distinguishing factor that has made a
difference between the education as well as putting it into existence. Work has taught me many
things based on how far I have achieved the knowledge of good understanding as well as how far
I can apply the theories towards the fact that I was placed into a company or an organisation.
This organisation has given me an opportunity to win over all the circumstances that I was
doubting about. The mentors that guided me in regard to my project which was revolving around
the financial management techniques with regards to the client is said to be one of the most
probable approach and is a worthwhile. I was placed in this organisation has an assistant account
and all that I have learnt and achieved in my graduation is seem to be portrayed in this particular
cadre. There is a difference between learning and implementing. Implementing all that I have
learnt is small thing where I ask something that I have earned from observing the work as well as
the services that what made by the organisation is said to be leaving me with different
experiences. While dealing with the project which is almost associated with computation and
calculations I felt like I had to image has one of these conception where they are different skills
that are to be portrayed. Although there are hectic schedules at times but still there was also work
which I have learnt from my mentor. The project that I was dealing with which was nothing but
the financial management with regard to an agricultural sector is towards maintaining a
profitability of all the Assets of the organisation. I have learnt all the sectors that are associated
in the agricultural background and their areas I would have to deal with. Different statistical tools
were known by the time I have ended my project. The organisation Best Buy has provided me all

the information that is necessary to be an accountant. Experience of work has given me the basic
and the feeling of how far an individual can serve towards all the atrocities as well as the
adequate measures that are to be taken while dealing with burden. Skills like that of problem
solving has made be one of those individuals who can deal with spontaneity. Decision making
and management leadership what are the aspects that were portrayed along with strategic
thinking and planning. The commercial awareness that is required in order to work in a resilient
manner along with the innovation and interpersonal skills is one of the professional commitment
that is portrayed through this experience.
CONCLUSION
The entire report concludes upon the prospect of preparation for a placement. Through this report
one can easily understand the requirement that are to be inhibited while preparing for an
industrial placement. The report highlighted the fact that a preparation is required in order to win
over the choices of placement. Through this report everything that is depicted involves the
criteria that has required to be processed by an individual when is going to approach and
organisational interview. The report highlights the different approaches like that of Pre
placement presentation qualifications group discussion curriculum vitae which are the major
constituent for every individual to process. The part B of the report is said to be highlighting the
company which here in this regard as Best Buy enterprise Limited. The project that was dealt in
the organisation is explained in this report and it is revolving around the agricultural background.
The sample size along with the considerations is been put forth in this report. The personal skills
that were elevated during the operational policies is also highlighted in this report. A descriptive
reflection has concluded the entire report by explaining all the experiences that were gained
through this work.

REFERENCES
Books and journals
Adnan and et.al, THE PERCEPTION AND EXPERIENCE ON THE USE OF E-PORTFOLIO
AMONG ART & DESIGN STUDENTS.
Forder and Fowlie, Future-proofing placements: the importance of local opportunities for
placement students. In ASET Annual Conference 2018 (p. 50).
Joubert and Pretorius, 2017. Using Monte Carlo simulation to create a ranked check list of risks
in a portfolio of railway construction projects. South African Journal of Industrial
Engineering. 28(2). pp.133-148.
Kim, 2019. Development of an integrated smart water grid model as a portfolio of climate smart
cities. Journal of Smart Cities. 3(1). pp.23-34.
Mashayekh and et.al, 2017. A mixed integer linear programming approach for optimal DER
portfolio, sizing, and placement in multi-energy microgrids. Applied Energy. 187. pp.154-
168.
Murray and et.al, 2017. Talk the talk and walk the walk: are career academics gatekeepers to my
Kim, K.G., 2019. Development of an integrated smart water grid model as a portfolio of
climate smart cities. Journal of Smart Cities, 3(1), pp.23-34.
Pennbrant and et.al, 2019. Learning Through Reflection: The Portfolio Method As A Tool To
Promote Work-Integrated Learning In Higher Education. In 13th International Technology,
Education and Development Conference (pp. 729-739). The International Academy of
Technology, Education and Development.
Sama and et.al, 2020. Case Studies on Integrating 3D Sand-Printing Technology into the
Production Portfolio of a Sand-Casting Foundry. International Journal of Metalcasting.
14(1). pp.12-24.
van Vuuren and et.al, 2019, June. Optimised Geographical Allocation of Wind Energy Capacity
using a Mean-Variance Portfolio Algorithm for Clustered and Un-clustered Profiles. In
2019 IEEE International Conference on Environment and Electrical Engineering and 2019
IEEE Industrial and Commercial Power Systems Europe (EEEIC/I&CPS Europe) (pp. 1-
6). IEEE.
Ziakas and Getz, 2020. Shaping the event portfolio management field: premises and integration.
International Journal of Contemporary Hospitality Management.
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