Internship Report on Procurement and Accounts & Finance Operations at United Medical College

Abstract

This report is a presentation of my internship at United Medical College, where I was working in the Procurement section in the Accounts and Finance Department. The internship was undertaken as the partial requirement for the Bachelor of Business Administration (BBA) program with major in Supply Chain Management from United International University. The primary goal of this report is to introduce the practical knowledge that was acquired in the internship program and how the theoretical knowledge was utilized for the practical activities in the organization. The report primarily focuses on the procurement practices followed by the organization and details the structured purchasing system of the institutional reports. During my internship, I observed and assisted in some major procurement process like Supplier Selection and Quotation Collection, Vendor Evaluation and Selection, Purchase Order (PO) Issuance, Work Order Preparation and proper Documentation and Record keeping. These processes are critical to ensuring that efficiency, transparency, and accountability are maintained in the procurement activities. The report also highlights the coordination from the Procurement unit and the Accounts and Finance Department in the area of proper financial control and smooth functioning of the purchasing process. Throughout the internship period, I was actively participated in supporting various purchase daily and financial work. My responsibilities involved gathering quotes from various suppliers, preparing comparative statements for consideration and working with vendors under supervision. I was also involved in supporting Purchase Orders (POs) and Work Orders preparation ensuring that required approvals were taken and documents maintained. These activities helped me understand the practical knowledge of procurement procedures, management of suppliers and internal control systems. In addition to procurement duties, I also helped with several accounting and financial reporting activities. I supported in the preparation of tuition fee collection reports and penalty fee collection reports keeping accuracy in data entry and financial calculations. I also helped organize and review financial documents which helped me gain a better understanding of accounting practices and financial documentation procedures. Overall, the experience involved in this internship helped in bridging the gap between what I had learned in my academics and to apply this knowledge in a professional setting. I developed important professional skills such as analytical thinking, attention to detail, communication, teamwork, time management and maintaining confidentiality in financial matters. This report is a summary of my roles, responsibilities, and key learning outcomes in my internship at United Medical College.