PREFACE

Account payable is related to processing of invoice and payment to party . The subject matter of Financial Management has been changing at rapid pace. About a decade ago, the scope of Financial Management was circumscribed to the raising of funds, whenever needed, the financial decision making, and problem solving. But now it has become an integral part of any business enterprise and growth of any business enterprise depends largely on their financial strategy and how finance is being managed. The summer training program is designed to give the future managers the feel of the corporate happenings and work culture. Theses real life situation are entirely different from the stimulated exercise enacted in an artificial environment inside the classroom and it is precisely because of this reason that this summer training has been designed, so that managers of tomorrow does not fill ill in the case when the times comes to shoulder responsibilities. The summer training is a bridge between the institution and organization to make us understand how theoretical knowledge will be applied in the practical field. It was exactly in this context that I was privileged to join Jindal steel & power Ltd. (Finance Division) as a summer trainee. The experience that I have gathered over the past two months has certainly provided me with an orientation, which I believe, will help me shoulder any assignment successfully in

ACKNOWLEDGEMENT
First of all I would like to express my whole hearted thanks and deep gratitude to my parents who have always been my source of inspiration for any challenging work, project, or assignment. Any work is not perfect and complete without the help and guidance from other people. This project work of mine Account pyabale would not have reached its fulfillment, hadnt it been the guidance given to me by various people directly or indirectly related to this project. At first, I deeply express my gratitude to my (HOD) Mr. Anant Srivastava and my faculty Guide for giving necessary instruction and guidance on how to pursue this summer project. I really found your guidance extremely helpful at every step of the research and in analyzing the various facts and figures. I would also extend my sincere thanks to Mr. Husan sir(head of training in charge in hr) for providing me an opportunity to do a project work in their esteemed organization. I whole heartedly acknowledge the intellectual stimulation of my esteem Project Guide, Mr. Abhijet Mandal sir ( Hod of Finance Department) for his continuous help and guidance throughout the project duration in spite of his busy schedule. I thank to my mentor Ms. versa Rajawat mam (Finance dept.) .

Guide certificate
To whom it concern I am Sapna Singh and I have done my summer training for Account payable from Jspl patratu (Jharkhand) and my Gide was there Varsha Rajawat mam. I am doing MBA from Shri Ram Murti Smarak Collage Of Engg. &Tech. Bareli.

Varsha Rajawat

Abhijet Mandal(AGM, Finance dept.)

S.P. Verma(G.M, HR dept.)

TABLE OF CONTENT
Page no
About the organization
Introduction History
Strong pillars Key person Product Achievements 7 to 10 10 to 13 14 15 to 17 18 to 22 23 24 25 to 27 30 to 38 30 31 32 33 to 34 35 36 to 38

Swot analysis Other business

Jspl patratu
Overview Facilities Growth potential of steel Steel making process of steel making wire , road and plates steel making reforms other fasilites

Topic
Account payable
Introduction Overview process Store department PPC department Financial /account Department sales tax
40 40 42 to 53 54 to 58 59 to 62 63to 71 72 to 74 75 76 to 78 79 to 80 81 83

Budgeting Balance sheet Profit and loss Bibliographic Questionnaire

TABLE OF CHART
Chart no. Page no.
Account payable process store Transportation bill Service bill Material Bill Finance /account department Exices department Payable Types of bill Types of form types of permit 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.1 2.2 2.3 42 54 60 61 62 63 64 64 66 67 72 74

ACCOUNTS PAYABLE
INTRODUCTION OF A/CS PAYABLE:Accounts payable is a strategic, value-added accounting function that performs the primary non-payroll disbursement functions in an organization. As such, the AP operation plays a critical role in the financial cycle of the organization. AP enables an organization to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of the entire payables process. In addition to the traditional AP activities whereby liabilities to third-party entities (suppliers, vendors, taxing authorities, etc.) are recognized and paid based on the credit policies agreed to between the company and its suppliers, today's AP departments have taken on much wider roles including fraud prevention, cost reduction, workflow system solutions, cashflow management, internal controls and vendor (supply chain) financing. It is the obligation that business owes to its creditors for buying goods or services. It is The Unpaid Invoices, Bills, or Statements for Goods or Services Rendered by outside Contractors, Vendors or Suppliers. Accounts Payable Are Sometimes Referred To As "Payables."

OVERVIEW:In recent years, accounts payable (A/P) operations have automated and streamlined their processes. New technology, such as electronic invoice presentment and payment (EIPP) and electronic funds transfer (EFT), has enabled automation of many A/P transactions. Businesses also have recognized that A/P professionals can play a strategic role in advancing a companys financial goals if they shift focus from transaction-oriented Processes to value-adding activities. Leading companies use a variety of EFT tools to make payments Electronically and rely on computer-assisted audit techniques (CAAT) and techniques (CAAT) and other technology-based antifraud procedures to monitor and stop illegal A/P Transactions. Many companies also seek to streamline or eliminate steps in A/P transactions, such as invoice processing. Despite this push toward automation, companies still strive to maintain a strong relationship-based focus. They seek progressive approaches to supplier communications, payment timing, and fraud prevention. They also leverage other organizational initiatives, such as regulatory compliance and Internal control efforts, to achieve better A/P efficiency.

A company's outstanding debts, or liabilities, to vendors for purchases of goods and services made on credit.
It's important to track accounts payable in a timely manner to ensure that you know how much you owe each supplier and when payment is due. Many a good supplier relationship has been damaged due to a sloppy accounts payable system. Also, if your suppliers offer discounts for payment within 10 days of invoice, a good automated accounts payable system will alert you when to pay to maximize the discounts earned.

Account Payable Process In Patratu

User

Purchase Department

Security

Purchase Requisition (P R)

Purchase order (P O)

Gate Entry (G E)

PPC Department

Store
Goods Receipt Note

Invoice

(GRN)

User
GRN Verification PPC Finance

Chrt: 1.1

STEP 1:- PURCHASE REQUISITION

MEANING OF PR
A purchase requisition is an authorization for a purchasing department to procure goods or services. It is originated and approved by the department requiring the goods or services. Typically, it contains a description and quantity of the goods or services to be purchased, a required delivery date, account number and the amount of money that the purchasing department is authorized to spend for the goods or services. Often, the names of suggested supply sources are also included. A purchase requisition is owned by the originating department and should not be changed by the purchasing department without obtaining approval from the originating department. This important distinction (e.g. essential control) is not clearly defined in some of the more popular integrated procurement software systems on the market today. In some industrial (e.g. production line) environments, the purchasing department may be assigned responsibility for requesting and purchasing goods. This is especially true for raw material purchases where the purchasing department is also responsible for inventory management. A purchase requisition is not a purchase order and therefore should never be used to purchase goods or services or be used as an authorization to pay an invoice from a supplier or service provider.

PROCEDURE OF RAISING PR THROUGH SAP IN JSPL

1) Put Transaction Code:-Me51n 2) Put Patratu Material There Are Two Types of Material a) Raw Material b) Services 3) Material Code:-Material Code Should Be In Ten Digits. Ex:-100018786 4) Material Description:-Quality, Tentative Price, Plant 5) Requistioner:-It Means That the Person Who is the Head of Department

6) Account Assignment Category:-Under this we check that for purchasing material money is available or not.

THERE ARE TWO TYPES OF CODES

a) P For Services b) Q For Raw Material Then Upon the Type of Work, Concerned WBS element is selected In the PR. WBS:-Under WBS the materials are divided into different codes. Ex:-Raw Material- X and Spheres- Y etc. It helps to choose the material whatever is required. Work Breakdown Structure is required and mandatory because it reflects the amount to be consumed. 7) Then Name, Phone No. of the person who is raising the Purchase Requisition. 8) Then End Usage: - Either Cenvat or Non Cenvat. 9) Then PR is saved and forwarded to further releaser from concerned HOD. 10) Then Purchase Department comes into picture.

PREREQUISITE FOR PR CREATION

1. Material No 2. Material Qty 3. Unit of Measure 4. Value Price 5. Total Value 6. Delivery Date 7. Material Group 8. Plant 9. Storage Location

10. Purchasing Group 11. Requisitioned 12. Purchasing Organization 13. Tracking No 14. Account Assignment Category 15. WBS Element No. / Cost Center / Internal Order

STEP 2:- TO MAKE QUOTATION AND NEGOTIATION

Quotation Means The Overall Description Of The Supplier Material. Basically It Includes Serial No., Description Of Material, Quantity, Rate And Terms And Condition Of The Company. In Terms and Condition basic things are Excise Duty, VAT/CST, Delivery Period, Payment Terms (Basically it includes Advance Bank Guarantee and Performance Bank Guarantee) etc. After sending the purchase requisition, supplier sends the quotation to the company. Out of 3 to 4 Quotation company selects the best quotation. For selecting the best quotation company prepares the comparative statement. Under this statement company compares the different quotation on the basis of price, material quality and company terms and condition and then company selects the best quotation. On the basis of quotation company negotiates the price with the supplier. Negotiation generally means the Companys Discounted Price. Company negotiates the price with the supplier and takes some discount from the supplier. The Negotiable / Discount Price are being selected by Purchase Head of Department.

Payment Period: A) Advance Bank Guarantee:-It is based on advance payment. It is 10 or 20% of

order value. Generally company is deposited certain advance amount to the bank. If delivery is acceptable without any fault then the amount will be transferred to the supplier. It comes on the beginning of the period.

B) Performance Bank Guarantee: - It depends on the performance of the

supplier. Period Limit is 12 Months. PBG comes after performance of the work.

STEP 3:- TO PREPARE PURCHASE ORDER

MEANING OF PURCHASE ORDER
It is a sales contract between buyer and seller detailing the exact merchandise or services to be rendered from a single vendor. It will specify payment terms, delivery dates, item identification, quantities, shipping terms and all other obligations and conditions. Purchase orders are generally preprinted, numbered documents generated by the retailer's financial management system which shows that purchase details have been recorded and payment will be made Purchase Order is provided to the vendor as a record of the Purchase.

PROCESS FOR MAKING PURCHASE ORDER THROUGH SAP IN JSPL

STEPS:1) Put Transaction code:-ME21N 2) Define: - patratu material or service depending on purchase requisition raised. 3) Enter vendor code. 4) Organizational data like company code, purchasing group, purchase organization. 5) At the suitable place, give the particular PR no. with line item no. 6) After this system will import the data from PR. Ex: - material code, material description, quantity, unit of measurement etc. 7) Then give delivery/ Invoice

a) Payment terms depending upon the negotiation. b) Inco terms. 8) Enter invoice means taxes, either VAT, EXCISE DUTY or CST. 9) Put delivery date 10) Put unit price and necessary terms and conditions. 11) After feeding all the data, then purchase order is saved and unique PO no. is generated.

TERMS & CONDITION

1) INSURANCE Transit insurance is in buyer or seller scope.

2) DELIVERY Material shall be door delivered to JSPL site as per DELIVERY DATE or earlier 3) FREIGHT In the scope of seller or buyer scope. 4) PAYMENT TERMS 100% payment within such n such days ( depend on the negation ) from the date of receipt and acceptance of materials at our site . 5) PACKING The material shall be roadworthy packed as per the Indian standards considering multiple handling and long storage period at site . The seller shall take suitable precaution and measures to protect the goods against dampness , moisture ,rain , rust, shock and deformation etc. All expenses in this connection shall be borne and paid by the seller alone.

Should it be proved that the material are damaged and/or lost, attributable to improper packing or inadequate protective measure , the seller shall be liable for free replacement of same. 6) WARRANTY The seller warrants that the materials to be supplied by the seller shall be brand new , unused and free from any material defects and shall be off good workmanship in accordance with the technical specification and/or applicable standards . 12 months from the date of commissioning or 18 months from the date of supply whichever Is earlier. 7) INSPESTION Inspection of materials shall be carried out at site . All necessary certificates, Internal Inspection report s, test reports shall be submitted along with dispatch document .In the event of supplied material not matching with our TS requirements the same shall be rejected & returned at your risk & cost . INDEMNITY 8) The seller shall indemnify and hold buyer harmless from any loss , cost, claim expenses or liability arising from adverse claim by any third party with respect to goods delivered to buyer. 9) TERMINATION In the event of the seller failure to comply with any of the terms & conditions of this contract and/or perform or observe the obligation imposed on it buyer shall be entitled to forthwith termination this order . Upon such termination ,the injured party shall be entitled to claim all damages/cost and expenses etc. Which it may suffer/incur as a result thereof.

10) FORCE MAJEURE Force majeure means any accordance event or circumstances such as act of god, sabotages , civil commotion, riots, insurrections, revolution, blockades, earthquake, fire , floods, lightening , storms , typhoon etc. In such case the time for completion

of the work shall be extended for a reasonable period to be determined by mutual agreement between seller & buyer. 11) RISK PURCHASE In the event of seller defaulting in supplying the material to be supplied under this contract to the purchase within a stipulated time agreed between the parties , the purchase shall have the rights to procure required material from an alternate source at seller cost & risk including incidental expenses/taxes etc.

12) ARBITRATION AND APPLICABLE LAW Any dispute arising shall be referred to any finally resolved by arbitration under the rules of arbitration of Indian council of arbitration (the Ica rules) as amended in force , from time to time . This contract shall be governed by Indian law as applicable . Any disputes and differences arising will be subject to the jurisdiction of that particular place court (buyer place) and has only exclusive jurisdiction in the matter .

12) ROAD PERMIT The requirement of road permit shall be intimated by the seller in advance for dispatch of material. Further the utilization statement shall also be submitted by seller before issue of fresh forms to seller. 14) OTHER 1) You will have to provide us Excise controlled Invoice to enable us to claim CENVAT. (if excise duty is involved ) 2) Please ensure that all dispatch document containing commercial Invoice ,Excise Invoice ,Challan , Packing List and Material test Certificate /Physical Inspection Report etc . Are sent alone with the consignment .

3) In Excise Invoice ,in any case , consignee name address must be mentioned subheading must be proper and according to commodity & in 8 digits . in case of your failure to comply with above ,we may reject the supplies to at your cost & risk . 4) The material must be dispatched through your authorized transporter on freight PAID basis or to pay basis (depend on the negotiation). 5) All necessary test certificate should be dispatched along with consignment. 6) Please mention our item code strictly in your Invoice while dispatching the materials.

STEP 4 :- GOODS SENT BY PARTY TO THE COMPANY

After making the purchase order the purchase department sent the PO to the supplier or vendor. On the basis of purchase order supplier sent the material to the company.

STEP 5 :- GATE ENTRY OF THE MATERIAL

After sending the material by the vendor, when materials are reached to the company then security department does some gate entry. Under gate entry system the security guards check the following document:a) Supplier or vendor name. b) Challan no. and PO no. c) Details of material like rate, weight, quantity, description of material. d) Truck no. and driving license no. e) RC (Owner Book):-name of vehicle, chasis no., engine no., driver name, type of vehic

STORE

Store

Receipt department

Issue department

Cart:1.2 After that G. E loaded truck with material came in store than it will be weighted that is called cata according to nature of material for example litter, tone , meter and unit etc. and here standard weight is 100 tone and 30 tone.

RECEIPT DEPARTMENT

After loading it will came in receipt department here checked all necessary document and first of all they checked own name of the company for confirmation that consignment is our or not if its ok than checked other papers just like. 1) Bill 2)Invoice 3)Chalan 4)Purchase Order 5)Excise 6)Road permit

7)Bilty NOTE:-no.7 is necessary only that time when vehicle have transporters and the have give bilty no. Receipt department has checked P.O. order and compare with chalan if every thing is ok than they accept the bill of party. Than after they call the user (who make the PR) for checked the material it is ok or not if it is ok than they make GRN(goods Receipt Note) ,if there is any kind of mistake for example shortage than they mention in the report(GRN)or if it not up to the requirement than they reject the material .

STEP 6:- TO MAKE GOODS RECEIPT NOTE

MEANING OF GRN
Goods Receipt Note is a document used to record the inward entry of the any goods received at the premises of the organization. The document normally consists of the details of Quantity Received, Quantity Rejected and Quantity Accepted, Supplier Name & P.O. No. The practice of preparing GRNs is important as it promotes proper inventory control and restricts the unwanted, unauthorized entry of goods in the organiz

ISSUE DEPARTMENT
Material issue slip

If user did not take the material directly that time when party deliver the goods than they have collect the material through the issue department. With the help of material issue voucher gated signed by the HOD . Then issue department checked the Budget of the user department if there is enough balance then issue department issue the material as per requirement of the user .

ISSUE DEPARTMENT USE SOME MOUEMENT TYPE FOR TRANSATION:1) FOR TRANSFER Mblb

2) FOR POSTING mbla 3) TO CHECK BUDGET Zps_budget 4) FOR SAME PLANT (WBS toWBS) Movement type 415Q (special material) 301 (general)

me2m-: With help of material code to see the purchase order. 412Q-: Transfer from General to WBS. 411Q-: Transfer from WBS to Ge

PROJECT PLANING &CONTROL DEPARTMENT (P P C)

PPC department is work like a mediator among store dept., finance dept. and party also .It has been collect the bill than they verified the bill with the help of all related dept. after that clearance of all the department they will be sent the bill in finance department for payment .It has been provide the facilities for doing the work easily.

PPC DEPARTMENT RECEIVED THE BILL FOR TWO WAYS:1)Through party 2)Through store department

TYPES OF BILL :1) Transportation bill 2) Service bill 3) Materia

BILLS CYCLE
TRANSPORTATION BILL
6. Purchase for

payment payment

4.

Finance Time: 3 days

1.Project Monitoring Dept Time: 1 Day

2.PPC(Logistic) Time: 3 Days

5.

Audit Cell Time: 2 Days

No If Observation

Yes

Chart 1.3

Service Bill Cycle

6. Purchase for

payment payment

4. Finance Time: 3 days

1.Project Monitoring Dept Time: 1 Day

2. User Time : 3 Days

5. Audit Cell Time: 2 Days

No If Observation

Yes

Chart 1.4

Material Bill
6.Purchase for payment

4. Finance Time: 3 days

Project monitoring Dept Time:1 Day

2. Stores Time: 3 Days

3. User Time: 2 Days 5. Audit Cell Time: 2 Days

No

Yes

If Observation

Chart 1.5

FINANCE /ACCOUNT DEPARTMENT

Bill Receivable

Excise

Bills Service Supply

Payables

Cheque Creation

Signing Of Cheque

Payment to Party

Chart 1.6

FINANCE DEPARTMENT
Bill will be come in finance department after that PPC Dept. it will be received by finance dept for for the verification of the bill carefully before payment to the party that is called bill receivable .After B/R it will be transfer in excise dept. for charged the required taxes which is very important of the every company .
Finance department

Excise

Payable Payable

Chart 1.7

EXCISE DEPARTMENT
Excise department has been charged all types of taxes which required according to material.
Excise Department

Input credit

Capital Goods

1oo%taxable

50% same yr 50% next yr

Oil, petrol ,desal

Machinery, cable

Char 1.8

Types Of Material
1)Fully tax free material 2)Partly tax rebate same year and partly next year 3)Fully taxable material.

Tax Free Material

Those row material which is directly involve in production that is tax free. Example Steel etc.

Partly Tax Rebate Given Same Year & Partly Next Year
Under this categories that type material include which not include directly in production and other types of material also .Which are receive the tax rebate 50% same year and 50% next year.

Fully Tax Able Material

Some material is fully taxable.

General ENTRY BED A/C ED A/C SHESS A/C TO GENRAL CLEARING A/C Dr. Dr. Dr.

PAYABLE
Payable dpt. Is also divided into two part service and supply in this dpt.all bills will be verified that is called Miro (invoice verification). After that miro bill booking and generate a new number this is invoice no.

Payable

Service

Supply

Miro

chatr 1.9

SERVICE BILL PAYMENT

Service bill is related to the service only it is not related any kind of physical transaction .It is related to the contractor who are do the for contract basis only .In this company get the work through the outsider for that type of work which is not related to the company directly but it is helpful or useful for the company to doing the work easily .for exp. road construction, building construction etc which required for the organization.

MATERIAL BILL PAYMENT

Material bill is related to the physical transaction here party deliver the goods as per requirement for the user .material is also called consumable goods it means it is directly related to the production . Just as row materials, petrol ,computers, machines etc.

Major Differences Between Service Bill & Supply Bill

Types of bill
Types of bill

Services Bill

Supply bill

Service entry no.

Goods receipt note

Purchase order

Purchase order

Work order no

Chart 2.1

SAP FORMATE FOR PAYABLE(Service & Supply)

PROCESS IN THE SAP

T Code (Miro)
Basic date

Invoice date

Reference

Bill no.

Bus. Place/Sectn Text

107/107

Activity Description

Services Entry Sheet

Services entry no.

Details

Business aria

7000

Document type

R M Invoice

Assignment

P.O no

Payment

Print mathed

C(check)

TAX

In calculate tax will click in the calculate tax column whatever tax will be charged it will be automatically add to the basic amount column will be sown in the total amount.

Withholding Tax

In withholding tax column will be deducted the TDS as per the required .

Simulate

Than will be post the document. When it will be generate the document no . This document no. is deferent for the making cheque

PHYSICAL PROCESS FOR THE BILLS PAYABLE

1. Qty in the invoice. 2. Work order date comparison with till date . 3. LD applicable with fixing date. 4. Service entry no. 5. services tax registration no. if it is taken than @10.3% of service tax will Be given at the party. 6. TDS (tax deductable sources) will be charged to party at the following rate 1) 2% on contractor 2) 1% on Individual 3) 10% on professional 7 Work contract (W.C) @2% if they are supply own material

General Entry For Miro General clearing a/c To, Payable a/c dr

SALES TAX
Sales tax dept. is related to the tax which is given or received to the related party if company purchased the material than give the tax or if sale than received the tax. In Case Of Purchase: If company purchase the material or received any kind of service to another company than have to pay tax only that time when company has been registrar. In Case Of Sales : If company sales then company have to received the tax according to the amount and nature of the material also . in case company did not charged tax or less charge according to the terms & condition than it will have to pay the tax to own side to the government .So that company have to very carefully for charged and calculate tax.

This dept is issue the form and permit also which is required for the business because without form business cant work properly .And these form issued by the government .

TYPES OF FORM ISSUED BY SALES TAX DEPT

Types Of Form

C Form

F Form

E Form

Chart 2.2

C FORM C form issue with two condensation purchase and sales . In case of sales if company charged only 2% cst than we received c form to the party agenst the 2% cst because it is prove for tax payment of 2% only. In case of purchase if we are charged the cst to the party only 2% than if party wanted c form than company issued the c form. It has three copy one is taken to the party and another one take the related dpt of material and last one is taken to the sales tax dept. as a prove.

FORM F This form is used only inter branch transation for purchase or sales .

TYPE OF TAX
VAT Vat is related to that type of material which is transit under state. Some popular % of vat are 4%, 5%,12%, &12.5% etc. SALE TAX Sale tax is related to that type of material which are transfer out of state and this time it is running on 10%

PERMIT

Permit is written document as a permission of the government for sales or purchased of the required material & product one place to another place without any restriction of the government.
PERMIT

PINK

BLUE

GREEN

With in state

Outside state

Export &purchase

Chart 2.3

PINK PERMIT
Pink permit is issued by the company who sale the product to another company or another branch for transfer of consignment without any problem. It is a written permit of the government for interstate business. Its paper colure is Pink that why permit it is called pink permit colure is also helpful for knowing easily .

BLUE PERMIT
Blue permit is related to the other state transaction permit. It means if anybody have blue permit with consignment than they have permission to transfer the material to one state to another state easily without any problem because they have permission of the government for business.

GREEN PERMIT

Green permit is permission for business to other country .it means with green permit government has provide permission for import & export.

BUDGETING
BUDGETING in simple word it is predication of the future for financial exp.It means budgeting is list of exp. For defiant time and subject both. In another word we can say that it is list of exp for future . With the help of budget we can predict the future.

PROCESS OF BUDGETIN IN JSPL

At Plant Level: Head of department consult of engineers Civil Equipments etc Costing Plant (review) Add contingency 7% to 10% Prepare the budget Send to head office Monitoring and checked the budget Compare to another branches M.D.(OP jindal) will be approved

BLANCESHEET

BALANCE SHEET AS AT 31st MARCH 2010 Jharkhand Schedule 31-Mar-10 SOURCES OF FUNDS SHAREHOLDERS' FUND Share Capital Reserves and Surplus Employees' Stock Options Outstanding Less :- Deferred employee compensation expenditure (see note 8 of Schedule 20) Business Area clearing Branch Accounts 10,731,811,073.95 10,731,811,073.95

LOAN FUNDS Secured Unsecured DEFERRED TAX LIABILITY (NET) TOTAL APPLICATION OF FUNDS FIXED ASSETS Gross Block Less:Depreciation Add: Capital work in progress (including preoperative expenses pending allocation/capitalization and Capital goods lying in stores)

3 4 20 10,731,811,073.95

4,863,020,879.42 (19,866,582.64) 4,843,154,296.78

3,405,841,555.25 8,248,995,852.03 6

INVESTMENTS

CURRENT ASSETS, LOANS AND ADVANCES Inventories Sundry Debtors Cash and Bank balances Loans and Advances

7 8 9 10

442,452,822.12 29,371,502.77 1,395,088,835.59 1,866,913,160.48

LESS: CURRENT LIABILITIES AND PROVISIONS Liabilities Provisions

11 12

478,757,362.22 12,784,804.00 491,542,166.22 1,375,370,994.26

NET CURRENT ASSETS Debit balance of profit & Loss Account MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) TOTAL Diff 2 13

(1,107,444,227.67) 10,731,811,073.95 (0.00)

JINDAL STEEL & POWER LIMITED PROFIT AND LOSS ACCOUNT FOR THE MONTH ENDED 31ST MARCH, 2010 Jharkhand Schedule 31-Mar-10 INCOME Sales and Operational Income Less: Inter Branch Transfer Less: Excise Duty Net Sales and Operational Income Other Income 14 2,758,785.00 770,086.00 1,988,699.00 229,532.00

15

2,218,231.00 EXPENDITURE Material, Manufacturing and others Less: Inter Division Transfer 16 24,156,477.76 24,156,477.76 48,039,489.63 47,795,449.99 (393,286.27)

Personnel 17 Administrating and Selling 18 Interest 19 Employees compensation expenses ( under ESPS scheme) Miscellaneous Expenditure written off Provision for Diminution in value of Investments Depreciation 5

3,504,004.47 123,102,135.58

PROFIT \ (LOSS)

(120,883,904.58)

LESS: Exceptional Item

PROFIT BEFORE TAXATION LESS: Provision for taxation (a) Income tax - For Current Year - For Previous Year (b) Deferred tax (c) Wealth Tax (d) Fringe Benefit Tax PROFIT AFTER TAXATION ADD/(LESS) Surplus / (Loss) brought forward Debenture Redemption Reserve written back PROFIT AVAILABLE FOR APPROPRIATION Interim Dividend on Preference Shares Interim Dividend on Equity Shares Corporate tax on Interim Dividend Proposed Dividend on Equity Shares Proposed Dividend on Preference Shares Corporate tax on Proposed Dividend General Reserve Capital Redemption Reserve Debenture Redemption Reserve Balance carried to Balance Sheet

(120,883,904.58)

(120,883,904.58) (986,560,323.09)

(1,107,444,227.67)

(1,107,444,227.67) Basic Earning per share (in Rs.) (See note 15 of Schedule 20) Diluted Earning per share (in Rs.) (See note 15 of Schedule 20) Significant Accounting Policies & Notes to Accounts 20 The accompanying schedules 1 to 20 form an integral part of these accounts

Notes: 1) The TDS on the provision shown in outstanding liabilities has been provided 2) we have added the capital inventory stores and spares in Capital

BIBLIOGRAPHIC

During at the time of training I have taken help from both types data primary or secondary. Under primary data who gave me their support and help both .

NAME
Husan sir Abhijet mandal

POSITION

DEPARTMENT
HR

AGM Depti manager Depti manag

Finance

Kisor chandra gouda L N mandal Om prakash prasad Purusotam Neha srivastav Anup sir Warsa rajawat

Store Store

Store(receipt) Store(issue) PPC deot. Purchase Finance Finance(survice bill) Finance (supply bill)

Preeti agarwal

Swata Parmeshware sir Madhu menan Depash agarwal

Finance(exice) Budgeting Balance sheet Finance

Ravi sir

Secondary data Secondary data is more helpful for making report .So many maters which is collected with the help of net and books also.Here generally I have take the help from some books of A/c Which author name is Dr. S.P. Gupta and R . S. Agrawal

Questionnaire
1)In Jspl , Patratu branche Inventory management

is ? a) Satisfied

b) Unsatisfied

c)Fully satisfied d)Fully unsatisfied Ans: b) Unsatisfied 2)Work with sap campare to previous software which is used after sap is? a) Satisfied b)Unsatisfied c)Fully satisfied d)Fully unsatisfied Ans: c)Fully satisfied 3) Working environment in patratu branch compare to other branches is? a) Satisfied b)Unsatisfied c)Fully satisfied Ans: a) Satisfied d)Fully unsatisfied

4)Providing facilities are ? a) Satisfied b)Unsatisfied c)Fully satisfied d)Fully unsatisfied Ans: a) Satisfied 5)PPC Department has been doing the work as a bridge so it is? a) Satisfied b)Unsatisfied

c)Fully satisfied d)Fully unsatisfied Ans: a) Satisfied 6)A/c Payable procedure is required to every organization? a)Yes Ans: Yes b) No