INTERNSHIP REPORT

ON

LEGACY PHARMACEUTICALS (PVT) LIMITED

By

Name

Noman Naeem Butt

Supervisor Name

Muhammad Nauman Khan

Internship Report submitted to the Institute of Management Sciences, Peshawar.

In partial fulfillment of the requirements for the degree of

Bachelors of Sciences in Accounting and Finance

INSTITUE OF MANAGEMENT SCIENCES, PESHAWAR.

Session: 2019 – 2023

 Certificate of Approval

I, certify that I have read the report titled: Internship Report on Legacy Pharmaceutical PVT
LTD, by Noman Naeem Butt in my opinion, this work meets the criteria for approving the
report submitted in partial fulfilment of the requirements for BS Accounting & Finance at
Institute of Management Sciences, Peshawar.

Supervisor: Mr. Muhammad Nauman Khan

Assistant Professor

Signature. _________

Coordinator R&DD: Dr. Saleem Gul

Associate Professor

Signature. __________
i
 LETTER OF UNDERTAKING

I NOMAN NAEEM BUTT Student ID 194401235 hereby confirm that internship report
I provided to Research and Development center is solely on my efforts. I did not copy my
report partially or completely from any other student or from any other source either against
payment or fee. Also I did not provided any plagiarized material in any section of my report.
I further confirmed that internship completion certificate that I have provided is original
and has been issued by the authorized person in the organization. If I am found guilty of
misstating, misleading or concealing in the facts about my activities either academic or
nonacademic but relevant to this course at any stage, Institute of Management Sciences is
authorized to take disciplinary action against me according to universities policies and
regulations.

I hereby also confirmed that I carefully read and understood all the guidelines, rules and
regulations provided. I assure that I will follow the instructions regarding viva voice and
will appear on the scheduled date. In case of any negligence I shall be held responsible.

Signature…………………….

Date: June 5, 2023

ii
NAME: NOMAN NAEEM BUTT

INTERNSHIP PERIOD: 9th Feb, 2023 to 5th April, 2023

INTERNSHIP DURATION: 8 WEEKS

INTERNSHIP WORKING HOURS: 40 Hours per week

iii
 Acknowledgement

I would like to express my gratitude to all those people who contributed and supported
me to complete my internship at Legacy Pharmaceuticals (Pvt) Ltd. I am very grateful for
the help and kind behavior towards me for the whole internship period.

I would like to extend my deepest appreciation to Mr. Yasir Khan, Finance Manager at
Legacy Pharmaceuticals, for their exceptional guidance and support. Their extensive
knowledge and experience in the field of Accounting & Finance helped me a lot during
my internship period. I am grateful for their continuous support and encouragement
throughout my internship.

Additionally, I would also like to appreciate and show gratitude to the accounts and sales
department of the Legacy Pharmaceuticals for their guidance and assistance during my
internship. Their efforts for me to understand each and every activity performed in the
company are really appreciated.

Lastly, I would like to offer my deepest gratitude to my supervisor Sir Muhammad

Nauman Khan, Assistant Professor at Institute of Management Sciences for his guidance
and encouragement to complete my internship report.

Noman Naeem Butt

Bs Accounting and Finance

Institute of Management Sciences, Peshawar

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 Executive Summary
I worked as an Internee at Legacy Pharmaceuticals (Pvt) Ltd Company. It was found in
2012. It is a pharmaceutical company. They make different types of medicines for the
cure and treatment of many diseases. Currently, they make 70 – 75 medicines, which
included capsules, tablets, syrups, dry syrups and they also make herbal medicines. Their
aim is to contribute to the improvement of human health by developing and providing
safe and effective medications that prevent, treat and cure the diseases and medical
conditions of human beings.

Legacy Pharmaceuticals (Pvt) Ltd Co. is situated at 111- A, Industrial State, Hayatabad
Peshawar, Pakistan. Approximately 150+ workers are working in Legacy Pharma. They
make different types of medicines for the cure and treatment of many diseases ranging
between 70 – 75 types medications. They have highly qualified pharmacists, quality
control manager who tests and ensures that the medicines they are making are according
to the requirements and specified formulas. They have huge lab Quality Control Manager
and other pharmacists run different tests on raw materials used for the production of
medicines and once production of a batch of medicine is completed then it is again tested
in the Lab. I worked as an internee in Legacy Pharmaceuticals (Pvt) Ltd Co. and I was the
given the task of book keeping of the company, besides bookkeeping I performed
different other tasks which helped me to gain experience and was a great opportunity for
me to utilize the knowledge and information I learned from my program. At university we
only study how to record different transactions, sales and expenses but using all these
knowledge in practical life for a company we actually learn a lot and gain experience. I
was given the task to accumulate daily sales, cash receivables, purchasing of raw
materials, expenses, liabilities and revenues. I also recorded the daily expenses paid with
the petty cash. However, big payments such as paying to the suppliers, payment of raw
materials, packaging materials were mostly paid through bank accounts and sometimes
with hard cash.

Legacy Pharmaceuticals (Pvt) Ltd has very strong policies which make them more unique
in the market. Every worker is given a right to take one leave in a month and if they take
more leave then as a plenty the company would cut amount from their salary so they
should maintain discipline and follow the rules, regulations and policies of the company.

Legacy Pharmaceuticals helping people to get cure of their diseases by providing them
good quality of medicines with reasonable prices but there most of the medicines are send

v
to the Afghanistan and here in Peshawar we hardly can find the any medical store who
have Legacy Pharmaceuticals medicine because they don’t want to pay any doctor to
refer and prescribe their medicines to the patients rather they want people to choose their
medicines as an example of a great medicine with positive effect and reasonable amount.
I think the company should invest some money or marketing so that everyone could know
their company and their medicines and not only in Peshawar and Khyber Pakhtunkhwa
but also all over Pakistan.

Learning and Suggestions:

This internship was very useful for me as it was completely a new experience. I stepped
into market and learned many new things which were unknown for me before my
internship. It surely helped me to improve my skills which will benefit me in future. By
this internship I learned Interpersonal skills, communication skills, human skills and
technical skills. All these skills are necessary and useful for every level of any
organization. I would like to suggest to my juniors to start their internships as soon as
possible so, they could learn the market demands and tactics and useful skills required for
an organization. It will also help them to assess their strengths and weaknesses and they
will come to know which position of an organization suits them and where they can work
efficiently and effectively.

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Table of Contents:

Chapter 1: The Organization .........................................................................................................1

1.1 Company Overview: ................................................................................................................1
1.2 Product Portfolio:....................................................................................................................1
1.3 National Presence: ..................................................................................................................2
1.4 Regulatory Compliance: ..........................................................................................................2
1.5 Sector: .....................................................................................................................................2
1.6 Products: .................................................................................................................................2
1.7 Customers: ..............................................................................................................................3
1.8 Organization Structure:...........................................................................................................3
1.9 Mission: ...................................................................................................................................4
1.10 Vision:....................................................................................................................................4
1.11 Policy: ....................................................................................................................................4
1.12 Contact Information:.............................................................................................................4
Chapter 2: Internship Activities ....................................................................................................5
2.1 Book Keeping: .........................................................................................................................5
2.2 Cash book: ...............................................................................................................................5
2.3 Sales: .......................................................................................................................................5
2.4 Expenses: ................................................................................................................................6
2.5 Receivables: ............................................................................................................................6
2.6 Vendor updated ledger: ..........................................................................................................6
2.7 Raw Material Store (RMS):......................................................................................................6
2.8 Packaging Material Store (PMS): ............................................................................................7
2.9 Finished Goods Store (FGS):....................................................................................................7
2.10 Bank statements: ..................................................................................................................7
2.11 Material requisition form: ....................................................................................................7
2.12 Production Department: .......................................................................................................8
2.13 Cost accounting:....................................................................................................................8
Chapter 3: Recommendations .......................................................................................................9
3.1 SWOT Analysis: .......................................................................................................................9
3.1.1 Strengths: ........................................................................................................................9
3.1.2 Weaknesses: ....................................................................................................................9
3.1.3 Opportunities: ................................................................................................................9
3.1.4 Threats: ........................................................................................................................ 10
3.2 Recommendations: .............................................................................................................. 10
3.2.1 Embrace Automation and Technology: ...................................................................... 10

vii
 3.2.2 Implement Lean Manufacturing Principles: .............................................................. 10
3.2.3 Continuous Process Monitoring and optimization: .................................................... 10
3.2.4 Foster a Culture of Quality Assurance: ...................................................................... 11
Chapter 4: IMSciences And Legacy Pharmaceuticals (Pvt) Ltd. ............................................ 12
Chapter 5: Assessment ................................................................................................................ 14
5.1 Communication Skills: .......................................................................................................... 14
5.2 Time Management: .............................................................................................................. 14
5.3 Teamwork: ........................................................................................................................... 15
5.4 Technical Skills: .................................................................................................................... 15
5.5 Strengths and Weaknesses: ................................................................................................. 15
Chapter 6: Conclusion ................................................................................................................. 16
References: ................................................................................................................................... 17

viii
 Chapter 1: The Organization

Name of the company: Legacy Pharmaceuticals (Pvt) Ltd.

Product/Services: Medicines

1.1 Company Overview:

Legacy Pharmaceuticals is a private limited Company founded in 2012 by late Mr. Hamid
Ullah and the current CEO of the company is Mr. Basheer Ullah while the Operations
Manager is Amin Ullah. Employees and workers of the company working hard
effectively and efficiently to make the company grow and make it the best so they can
survive the market and fight with their competitors.

Legacy Pharmaceuticals is a competing pharmaceutical company. They sell their products

to different cities of Khyber Pakhtunkhwa and some other cities of Pakistan while their
products are also exported to Afghanistan. Legacy Pharmaceuticals deals with both
Allopathic and Neutra products. The main line of business of the Legacy Pharmaceuticals
is importing different raw materials required for the production of Allopathic and Neutra
products, manufacturing products and selling the products to their regular customers
which are certified pharmacies.

Moreover, Legacy Pharmaceuticals are really committed to provide the best of the quality
of the medicines by maintain the highest standards. Quality Control department of the
company is playing a vital to ensure the quality, safety and efficiency of their products.

1.2 Product Portfolio:

Legacy Pharmaceuticals has recognized that a strong product portfolio serves as a

foundation of success for a company. Their unwavering dedication to regulatory
compliance, quality assurance and ongoing research and development efforts ensures that
their products meets the highest standards level of safety, efficacy and quality. Legacy
Pharmaceutical stands ready to positive impact on the lives of individuals all over
Pakistan, empowering them to lead healthier, more fulfilling lives.

1
1.3 National Presence:

Talking about the national presence, Legacy Pharmaceuticals operates in different cities
of Pakistan and also exports its products to different cities of Afghanistan. Legacy
Pharmaceuticals has a strong with their customers which includes different retailers,
distributors and pharmacies.

1.4 Regulatory Compliance:

As a responsible pharmaceutical company, Legacy Pharmaceuticals is committed to

upholding and complying with all the applicable regulatory requirements. They recognize
the importance of regulatory compliance which includes ensuring the safety, efficiency
and quality of their products.

1.5 Sector:

A firm that is engaged in the creation, production and distribution of different

pharmaceutical products which includes medications, drugs and health care items, is
referred to be pharmaceutical sector. A pharmaceutical sector is very essential for any
country and so that people can live a healthy life getting cure and treatment by using the
medicines produced by the pharmaceutical sectors.

As by name we can understand that Legacy Pharmaceuticals (Pvt) Ltd is a pharmaceutical

sector based company. Saving the lives of many people by providing good quality and
effective medicines to the people so they can get cure from their diseases and live a
healthier life with their loved ones. Their aim and goal is to provide quality products with
affordable price so that everyone could buy and use their products easily.

1.6 Products:

As I have mentioned Legacy Pharmaceuticals produce both allopathic and neutral

medicines so they have a huge list of medicines which they are currently producing and
providing to their variety of customers. These medicines includes tablets, capsules,
syrups, dry syrups and other products. Some of their most demanding and top selling
products are Lexime (Cefixime U.S.P) 100mg, 200mg, 400mg, Legaceph (Cephradine
U.S.P) 125mg, 250mg, 500mg, Cipracy (Ciproflaxin HCI U.S.P) 125mg, 250mg, 500mg,
Legzith (Azithromycin U.S.P) 200mg, 250mg, 500mg, Kuf Out, Kuf Out Plus, Citro
Max.

2
1.7 Customers:

The primary customers of the Legacy Pharmaceuticals are distributors, retailers and
different pharmacies of different cities and districts of Pakistan. Furthermore, they also
export their products to different pharmacies in Afghanistan. Usually, customers belongs
to Peshawar, Nowshera, Mardan, Swabi, Malakand and other districts of Khyber
Pakhtunkhwa, while in Punjab Lahore, Gujranwala, Gujrat, Mianwali, Buttagram and
other districts of Punjab, and some districts of Sindh and Balochistan.

1.8 Organization Structure:

The organizational structure of a pharmaceutical company typically consists of certain

departments that work together to achieve the company’s goal.

Legacy Pharmaceuticals have several departments which are essential for the company.

Figure: 1

CEO(BASHEER
ULLAH)

OPERATION MANAGER
(AMIN ULLAH)

MARKETING PRODUCTION
HUMAN RESOURCE FINANCE MANAGER SALES MANAGER ( PLAN MANAGER ( UMER QUALITY CONTROL
MANAGER (HAYAT
MANAGER ( YASIR KHAN) KAMRAN) MANAGER(INAM) DEPARTMENT
GULL) KHAN)

QUALITY
RAW MATERIAL
WAREHOUSE ASSURANCE
STORE
MANAGER

PACKAGING STORE

MATERIAL STORE

FINISHED GOODS
STORE

3
1.9 Mission:

The mission of the Legacy Pharmaceuticals is to be the leading and trusted company in
Pakistan with the help of teamwork, dynamic leadership and utilizing all their skills and
abilities to come up with great results. Legacy Pharmaceuticals try their best to achieve
the best possible level of excellence development, continuous training and a fostering a
motivated skilled workplace. They prioritize their research and development to
proactively meet the future challenges of the growing market.

1.10 Vision:

For a great vision, the Legacy pharmaceuticals leadership has planned to lend
pharmaceutical industry through proactive programs that reflect caring for the family of
Legacy. Their team mates, their customers and those who provide services to Legacy
Pharmaceuticals Company. Another important expect of Legacy Pharmaceuticals is to
provide quality products with affordable price and to ensure the availability of the product
to almost all target customers throughout Pakistan.

1.11 Policy:

The quality policy of the Legacy Pharmaceuticals is to strictly follow the current good
manufacturing practices which are designed to produce good quality medicines and to
make sure to keep them under the reasonable prices so that every person in need can
easily buy it and cure from the disease. The quality system of the Legacy Pharmaceuticals
is based on the belief that there is always room for the improvement in quality and every
member contributes towards achieving the highest standard of quality.

1.12 Contact Information:

111- A, Industrial State, Hayatabad, Peshawar, Pakistan.

Website: https://www.legacypharma.com.pk/

Email: legacypharma@gmail.com

Phone: +92-5891260, +92-5891261, +92-5891286

4
 Chapter 2: Internship Activities

Following are the activities carried out the internship period.

2.1 Book Keeping:

I was given a task to maintain the records of day to day activities. Those activities
involved recording of purchases and sales of products. Similarly, I will have to record all
the expenses which they were making in order to generate revenues. I was also involved
in making balance sheet and income statement reports of the entity. Whenever a
transaction occurred, I would record the transaction in ledger account and then transfer
the data to make balance sheet and income statement for the company. To record daily
transactions, I used excel. Legacy Pharmaceuticals uses both online and offline data
record. For advance system book keepings they have their own ERP system designed by
IT experts in which they records daily transactions, sales, expense, inventory, raw
materials, payables, receivables, all the important data is recorded on it. I also got a
chance to work on that ERP software, where I recorded sales and expenses of the
company. For every department of the company they have their separate individual user
ids through which they log in and input their data.

2.2 Cash book:

Disbursements and cash receipts are recorded in this financial journal. It is simply the
cash on hand account of Statement of Financial Position.

2.3 Sales:

It contains sales invoices. These invoices are the source documents. I also worked in the
sales department of Legacy Pharmaceuticals where I used to make purchase orders. When
a distributor or a pharmacy required some medicines so they would directly send the
order list to the company through marketing team or directly to the sales team then I
would check in the excel whether the amount of products is available in inventory or not,
if products were available in inventory then I created a purchase order form against that
order and mark the number of required items ordered by the party. Then this purchase
order form is sent to the FGS (Finished Goods Store) where they take out the products
ordered by the party and loaded in the supply truck which delivers the order to the party.

5
2.4 Expenses:

The receipts that show expenses incurred to run operations. I was given task to record
daily expenses of the company where it is maintenance expense, purchase of raw
materials, utility expense, food expense or fuel expense or liabilities created or paid were
also recorded. First I recorded these expenses on excel then on ERP software.

2.5 Receivables:

The credit sales account was also updated daily to keep a check on the customer’s
balances how much they have paid and how much amount yet to be received in future.
These balances were recorded and updated in separate excel sheet of customers.
Whenever a payment was received from a customer I used to record in customer ledger,
accounts receivables are reduced while the customer’s credit balance reduced.

2.6 Vendor updated ledger:

The vendor update ledger is manually maintained record of payables in excel. It shows
how much the company has paid and will pay to the vendors. The purchase of raw of
materials for the production of medicines were on credit purchase and payables were
updated in the vendor’s updated ledger.

2.7 Raw Material Store (RMS):

I also worked in the RMS (Raw Material Store) of the Legacy Pharmaceuticals where all
the raw materials required for the production of medicines were kept. I also recorded and
updated the raw materials ledger in raw material store both manually and digitally on
Excel. When a batch of a medicine is to be produced a requisition form containing the
raw materials required for the production was received by the raw material store by the
production department. RMS after clearing and providing the raw materials to the
production department, I recorded it in the manual ledger against the individual product
as well as in excel and in the ERP software. As a student of Accounting & Finance I was
difficult for me to learn and remember the names of the products but they also had their
own batch numbers through which they could identified and selected in both excel and
ERP software which helped me a lot to record my transactions and entries.

6
2.8 Packaging Material Store (PMS):

After working in the Raw materials store, I also worked in the Packaging materials store
of the Legacy Pharmaceuticals. The same procedure as of RMS was also followed here,
releasing the required packing materials against the requisition made by the production
department and then updating the inventory. I was given this task to record the used
materials where it is bottles, bottle caps, capsule shells, boxes for tablets and syrups every
packing material.

2.9 Finished Goods Store (FGS):

I also got a chance to work in the finished goods store of the Legacy Pharmaceuticals
where I actually experience how an inventory of a company looks like and it is
maintained. When a production of a batch of medicine is completed then a stock transit
ticket is provided to the finished goods store with the prepared product and then the stock
ledger of FGS is updated. The procedure of FGS was that when a supply order form was
received from the sales department and so a delivery challan would be created against it
by the FGS. After releasing the ordered products, I updated the inventory with the number
of products sold.

2.10 Bank statements:

It shows the summary of transactions carried out through banking channel during a
specified period of time. It includes deposits, withdrawals, service charges, and taxes.
Daily statements from different banks in which company has their accounts were received
which showed deposits, withdrawals, etc. These statements are used at the end of period
for reconciliation purposes.

2.11 Material requisition form:

It is a document where an entity records the type and quantity of each type of material
needed to complete one unit of product. When the production department asked for
materials, they would send a requisition form to the raw material store, I was asked to
record the amount of quantity required by the production department and I recorded it in
the raw material accounts.

7
2.12 Production Department:

In the last week of my internship, I worked in production department. I saw how the
production department works. It was completely new experience for me. I would make
bill of materials and material requisition forms. It was an interesting job. I read these
things in books, but I never performed such activities before my internship.

So, all these activities proved useful me. I polished my skills. I learnt many things. I got
an opportunity to understand the market in a better way.

Working as an internee is not an easy task but thanks to my teachers who motivated me
and gave me the required knowledge. I also want to thanks the Legacy Pharmaceuticals
Company who gave me this golden opportunity to work in their company which helped to
understand the business environment and acquire great knowledge with experience.

2.13 Cost accounting:

I was given the task to analyze the business so I can experience how a costing of a
product is done. First I was asked to find out the price for any product they were
charging, was appropriate or not. For this purpose, I tried to collect all the information
like variable cost, fixed cost and other expense for that individual product. On the basis of
this information, I prepared a dummy record which highlighted some points. The product
was selling at low price with a very low profit margin.

8
 Chapter 3: Recommendations

3.1 SWOT Analysis:

A SWOT analysis helps a company owners to assess their position in a specific market. It
helps a company to realize and understand where they actually stand in this competent
market and how can they further perform well in future or overcome their weaknesses to
grow their company. The term SWOT stands for Strengths, Weaknesses, Opportunities
and Threats. The first two includes all the factors which are controllable and can be
controlled by the owner or manager and management while the Opportunities and Threats
include all those things which cannot be controlled by the owners or management can
have a great effect on the performance of the company.

3.1.1 Strengths:
Talking about the strengths of Legacy Pharmaceuticals they are very efficient, capable
and honest in workforce. To grow the company they keep on making new strategies and
also consider financial resources. They keep their technology up to dated so, that they couldn’t
lose their worth in the market. They also offer better quality products with an affordable and
reasonable prices as compared to the other pharmaceutical companies.

3.1.2 Weaknesses:
Talking about some of the factors that make Legacy Pharmaceuticals weaker can be their
small area they could install more machinery and grow their production if they have large
area. They also have higher unit cost as compared to the competitor companies. They also
have very limited variety of products, if they hire more highly educated pharmacists with
a great experience and make a strategy to increase their variety of products so that would
be good and positive step for the company. One of their weakness is that they do don’t
advertise or promote their company so that could also be stopping the company to grow.
If they put some efforts in promotion and advertisement it will also increase their sales
and their products would be demanded all over Pakistan.

3.1.3 Opportunities:
Legacy Pharmaceuticals as a growing company, has opportunity for expansion as their
products are also exported to across the border to Afghanistan. If they expand the
company’s product line they would be able to meet a broader range of customer needs.
Pharmaceutical market is significantly very huge and growing so, Legacy
Pharmaceuticals have many opportunities to rule the Pakistan pharmaceutical market.
9
Legacy Pharmaceuticals can also plant their new factory in different cities of Pakistan so
they can grow, expand their networks and increase their sales and can help more people
providing light to their lives by saving their loved ones by providing them quality
products which would led them to a healthier life.

3.1.4 Threats:
New strategies and aggressive movements of competitive companies can be a big threat
for Legacy Pharmaceuticals. Costly new regulatory requirements and high costs of
productions can also a threat for Legacy Pharmaceuticals. Other competitors lowering
their prices to gain attention of the distributors. New growing companies and local
competitors could also be threats from Legacy Pharmaceuticals.

3.2 Recommendations:

3.2.1 Embrace Automation and Technology:

Investing in advance automation and technology can significantly enhance the production
efficiency of Legacy Pharmaceuticals. Consider implementing robotic process automation
(RPA) for repetitive tasks, such as packaging and labelling, to reduce human error and
increase productivity. Additionally, explore the integration of Internet of Things (IOT)
devices to enable real time monitoring and data collection, allowing for proactive
maintenance and streamlined workflows.

3.2.2 Implement Lean Manufacturing Principles:

Adopting lean manufacturing principles can help to eliminate waste and improve overall
operational efficiency. Encourage cross functional collaboration to identify and eliminate
bottlenecks in the production process. Regularly review our supply chain to optimize
inventory management and reduce stock outs or overstock situations. Implementing
visual management tools, such as Kanban boards, can facilitate clear communication and
improve workflow visibility.

3.2.3 Continuous Process Monitoring and optimization:

Implement a robust monitoring system to track key performance indicators (KPIs) and
identify the areas of improvements. Analyze production data to identify recurring issues
and implement corrective actions promptly. Regularly review and update production
SOPs (Standard Operating Procedures) to reflect the latest best practices and industry
regulations.

10
3.2.4 Foster a Culture of Quality Assurance:
Quality assurance should be at the forefront of Legacy Pharmaceuticals production
processes. Encourage a culture of quality by implementing rigorous quality control
measures at every stage of production. Emphasize the importance of adherence to Good
Manufacturing Practices (GMP) well trained in quality standards and procedures.

11
 Chapter 4: IMSciences and Legacy Pharmaceuticals (Pvt) Ltd.

IMSciences has played a vital role in preparing me for this internship by providing me
with the useful knowledge and skills. Subjects I read during my degree helped me a lot to
successfully complete my internship and perform tasks assigned to me. Basic knowledge
was needed to perform every task which I already had due to those subjects. Especially
subjects like Introduction to Business, Management, Office Management Tools and
Computer Applications in Finance helped me during my internship. Not only the
theoretical learning but also the professional grooming helped me to be a perfect fit in the
office environment of Legacy Pharmaceuticals.

These subjects really helped me performing different activities and tasks during my
internship are Computer applications in finance (CAF), Office Management Tools (OMT)
and Accounting Information System (AIS). These subjects helped me carry out the
activities of book keeping. As computations, calculations and accounts are first made on
excel therefore there is a need to have full command on Microsoft Excel to perform
business activities. During our lectures of CAF and OMT we covered most of Excel and
practiced some real life scenarios that gave us a broader idea how to use this tool in our
professional life. QuickBooks is one of the common software used for accounting
purposes and which we learned in AIS. A student from background of Accounting &
Finance must have some basic knowledge of QuickBooks and it is very necessary for
accounting purpose. We learned many basic functions of QuickBooks in AIS which
helped me to use it more efficiently during my internship. Learnings from these subjects
made my work much easier to perform because in accounting world these tools are used
frequently and I happened to have basic knowledge of these already. The next subject that
helped me to complete my internship was Introduction to Business (ITB). It helped me to
carry out the activity of incorporation of companies because this subject gave me all the
basic knowledge to perform this activity. I only had to follow the procedures provided by
the supervisor. There are some legal procedures that has to be followed very carefully and
there is no room for any kind of mistakes or error as it can effect someone’s business.
Apart from these specific subjects, whole program of BS Accounting & Finance prepared
me for the professional life. Knowledge from different subjects and teachers helped me to
perform my tasks during my internship more efficiently.

12
Apart from professional grooming, various teachers helped me to gain my confidence and
to present my point of views in every situation. Many skills like communication,
presentation skills, career attributes, teamwork and problem solving which I learned
during my degree from various activities and assignments molded me into a person who
can be a fit in any office environment. IMSciences has not just helped me with the
advanced information on bookkeeping and accounting, yet additionally permitted me to
secure profession creating abilities, including correspondence and introduction aptitudes.
I have these aptitudes due to the various exercises, going from Business Fest to
introductions and gathering conversations that I have attended at IMSciences. In
conclusion I would say IMSciences has prepared me in the best possible way to face
different challenges of the market by using the skills and knowledge I learned at
IMSciences.

13
 Chapter 5: Assessment

8 weeks of internship at Legacy Pharmaceuticals (Pvt) Ltd proved to be a valuable

opportunity for me to learn and get familiar with real world market experience. During
my internship, I learned many new things as it was complete new experience for me still I
tried my best to use my knowledge in the practical work to perform different tasks during
my internship. Having theoretical knowledge from my degree and practical knowledge
from this internship has improved me a lot and made me a better accountant. Under the
supervision of the practitioners who have vast knowledge and market experience polished
me more that can help me to boost my career.

5.1 Communication Skills:

Communication skill is a very important skill for any career and is a key part of the
workplace to understand and convey affair of the company. Usually we learn or develop
this skill with in our institution but working in the Legacy Pharmaceuticals helped me a
lot to improve my communication skills by communicating daily with the colleagues and
my supervisor. I spent 4o hours a week with in the company with different group of
people which also includes workers of Legacy Pharmaceuticals which was also had a
positive impact on my communication skill. I learned how to communicate professionally
and it also helped me to learn how to disagree with someone’s opinion with sounding
rude but deal it with professionally so all these skills I learned from my internship.

5.2 Time Management:

Time management is a key factor for any company or organization. A person must also
have time management skill to perform the assigned task or work on time without being
late. As managers don’t really like the late work or delays in work, every company wants
their tasks to be performed well and on time. During my internship, I also learned this
time managing skill by trying my level best to complete the tasks assigned to me on time
and gradually with the passage I could clearly feel the difference how I performed my
tasks on time without being late and I was able to manage my time according to the work.

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5.3 Teamwork:

I also learned how to work and think as a team rather individually, whenever I was
assigned tasks I would seek help from my supervisor he would guide me and provide me
with the best possible solution which would help me a lot to understand and perform my
task. Every manager of department in Legacy Pharmaceuticals helped and guided me to
perform my tasks as team so I can experience working as team.

5.4 Technical Skills:

In our degree we learned many courses and skills but during internship my technical skills
were further improved. I learned my new skills related to QuickBooks, Microsoft Excel
and Microsoft Word. I also worked on the ERP site of the Legacy Pharmaceuticals for
updating different accounts that was a complete new experience for me and also helped
me a lot to learn about advance software used for accounting purposes.

5.5 Strengths and Weaknesses:

With the help of internship, I analyzed myself and came up with the conclusion that
having knowledge and information still I lacked many skills. At university after studying
we think all activities and tasks we can perform but it’s not true, to be able to use the
knowledge we gained from university we need practice and different skills. In internship,
I got chance to get rid of all my weaknesses and helped me improve my skills which
includes communication skills, interpersonal skills and lack of confidence. I also acquired
some of the human skills which are also essential to work with in a company.

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 Chapter 6: Conclusion

The internship play an important role in the career development of an undergraduate

student and help to understand market demands and requirements. Internship was a great
opportunity for me to use my knowledge in a company to learn new things and gain
experience for future. It is the best path for all understudies who need to develop their
abilities and understand the company situation in a straightforward method. It enables a
student to appreciate company requirements and wishes. It also enables the understudy to
appreciate market trends, for example, what kinds of skills are sought after and what
kinds of representatives associations are looking for. During my temporary role, I realized
that each employee must have strong interpersonal skills. An employee must be able to
handle problems and operate as an individual within a group.

At university level, we gain bookish knowledge with some important ideas however in
internship, we figure out how to use those knowledge and ideas. Internship also help us to
understand the difference between practical and theoretical framework. Being a student of
Accounting & Finance, I got the tasks of bookkeeping and accounts in Legacy
Pharmaceuticals. After completing an internship, a student would be able to realize which
spot is best for him in an organization. A student will be able to identify his weaknesses
and strengths, which will help them to improve their strengths and change their
weaknesses to qualities.

I would recommend every single understudy to do temporary job in any event once at
graduation level. They will clean their abilities and will recognize their characteristics.
They will come to realize what work or which position suits them and for what kind of
association they should work. In the event that they need to make due in the market and
make their own worth, they should partake in an internship movement.

To conclude this report, I consider myself very lucky that I am the part of prestigious
Institute which gave me an opportunity to work in a practical life and test my concepts
and knowledge in a practical scenario. During my internship, I also came up with the
conclusion that if you have both knowledge and skills then you can survive in the market
and make yourself valuable and worthy for an organization.

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References:

Legacy Pharmaceuticals (Pvt) Ltd (n.d.). Legacy Pharmaceuticals. Legacypharma.

https://www.legacypharma.com.pk/

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