Internship Report on ‘Financial Reporting System of Arla Foods Bangladesh Ltd’

Abstract

This report has been written from the point of view of a finance student. In this report, I mainly focused on the Procure to Pay Process (P2P) and all the other financial activities that I got to practice as an intern there. I have tried to summarize all the notes I took in my internship journal in this report. The Finance and IT department is one of the largest departments at AFBL after the marketing department. Here, I worked in the Financial Reporting team. My internship focused on the P2P process. This is the process in which supplies needs are detected and purchased. Small firms conduct it manually, but large MNCS use software like SAP to conduct this. All the steps are carried out by SAP except the process of financial payment, which is done through Financial Institutions like Banks. My responsibilities in this process as an intern were Vendor Data Management, assisting in Financial Reporting activities, issuing Tax Certificate, calculating Tax and VAT for vendors, managing Finance Archive, managing invoices & preparing them for posting and creating Ledgers and summaries for Advance Income Tax. I have discussed all these in details in my report.