Intern Report Final
Intern Report Final
Intern Report Final
MARY’S UNIVERSITY
BUSINESS FACULTY
DEPARTMENT OF MANAGEMENT
August 2024
2. Company background
The organization is influenced by various factors that significantly impact its success. Importing
and exporting goods is not only central to the company's operations but also contributes to
national economic growth and expansion. By importing goods, the company introduces new
products to the market, reduces costs, provides high-quality products, and positions itself as a
market leader. Furthermore, these activities support the country's economy, particularly in areas
where local resources Frew Abebe Chekol Import Export P.L.C. has become a prominent player
in Ethiopia's import-export sector. since 2014 GC The company plays a crucial role in
connecting Ethiopian suppliers with international markets, facilitating the exchange of high-
quality agricultural products and essential industrial goods.
1
its portfolio over the years to include a diverse array of agricultural commodities and industrial
imports. The company’s growth has been marked by strategic partnerships, investments in
technology, and a strong commitment to quality.
2
3
Buildings Straight-line 5%
Equipment, Machinery, Motor Vehicles Straight-line 15%
Computers, Software, Related Items Straight-line 20%
3.3.4 Inventory
Fixed Asset
1. Cost valuation
Description
July 8/2021 Addition Disposed June30 7/2024
vehicle 599,615.30 - 346,081.99
Computer and 10,793.48 183,271.95 150,295.52
gadget
Office furniture 90,202.75 369,079.24 406,400.82
and equipment
Total 581,511.53 542,351.19 902,778.33
2. Depreciation
Description
June 30 /2024 Addition Disposed June 30/2024
vehicle 93,923.06 - 69,216.40
Computer and 2,948.37 43,317.99 37,573.88
gadget
Office furniture 18,020.55 73,815.85 81,280.16
and equipment
Total 114,891.98 117,133.84 188,070.44
Description Acc.Depr.As
of
July 8/2021 Addition Disposed June 30 /2024
vehicle 125,533.31 - 192,749.71
Computer and soft 34,769.91 43,317.99 115,651.78
ware
Office furniture 52,781.17 73,815.85 207,877.18
and equipment
Total 211,034.39 117,233.84 516,288.67
Net Fixed Asset 360,427.14 386,489.66
3. Stocks 2024
Inventory 9,744,789.54
Total 9,744,789.54
4
VAT receivable 344,587.85
Pre-paid rent 0.00
Pre-paid insurance 1,086.59
Bid 0.00
Total 392,435.60
10. Revenue
Income from sales 33,932,870.06
Total revenue 33,932,870.06
6
Description Notes Currency: ETB
Revenues
Sales 33,932,870.06
Total revenue 10 33,932,870.06
Cost of sales
Cost of sales 11 31,575,251.85
Gross profit 2,357,618.21
Expense
Total expense 12 998,246.81
Operating income 1,359,371.40
Minus: Financial charges 310,775.94
Net income before tax 1,048,595.46
Tax due amount 349,008.41
Less: withholding tax receivable 46,761.16
Provision for taxation 302,247.25
Net income after tax 746,348.21
Asset
Property, Plant, and Equipment: Currency: ETB
Fixed asset 386,489.66
Total property and equipment 386,489.66
Current Assets
Cash and Bank balance 1,378,645.21
VAT receivable 344,587.85
Pre-paid insurance 1,086.59
Stock 9,744,789.54
Total current asset 11,469,109.19
Total asset 11,855,598.85
Description
Cash flows from operating activities Currency: ETB
Net income to reconcile 746,348.21
Depreciation expense 188,070.44
Stock (9,744,789.54)
Adjustments to reconcile net
Income to net cash provided
By operating activities (8,810,370.89)
Accounts receivable -
With-holding Tax receivable -
Accounts payable -
Income Tax payable -
Total adjustments (8,810,370.89)
Net cash provided by operations -
Cash flows from investing activities
Capital investment (386,489.66)
Net cash used in investing -
Cash flows from financing activities
Divided payable -
Long term loan 10,222,214.53
Profit tax liability (349,008.41)
Net cash used in financing 9,873,206.12
8
Net increase/decrease in cash 676,345.57
Summary
Cash balance at end of period 1,378,645.21
Cash balance at beg of period -
Net increase /decrease in cash 1,378,645.21
4.1 vision
4.2 Mission
4.3 Goals
9
To meet customer’s, need promptly and qualitatively.
During my internship, I had the opportunity to rotate through various departments, gaining
experience in different areas of the company.
Weeks 1 and 2: I started in the materials department, where I was responsible for inventory
management, resource planning, and organizing materials. I also helped prepare new material
requests for the organization and its customers.
Weeks 3 and 4: I then moved to the marketing management department. Here, I took on new
challenges like preparing presentations on improving the marketing department and enhancing
customer satisfaction. I also learned how to better handle customer needs and ensure their
satisfaction with the company.
Weeks 5 and 6 My next assignment was in the financial management department. I focused on
maintaining the financial health of the company by analyzing costs, pricing, sales results, and
overall company performance. I also worked on budgeting, forecasting, and reviewing financial
statements, such as profit and loss reports and balance sheets.
Weeks 7 and 8 Finally, I joined the human resources management department. I assisted with
recruitment efforts, including advertising job openings, coordinating interviews, and managing
job offers. I also conducted new staff inductions and participated in gathering market salary data
for the annual review.
This rotation allowed me to gain a well-rounded understanding of the company's operations and
develop skills in various key areas. Organization Activities
10
5.2 Strategic Plan
The organization employees and managerial work in this plan. The strategic plans mainly focus
on their mission. How long our vision and reality are going well this include the plan.
In this strategic plan all the organization employees have meeting in 4 month or every 2 months
about what they do. The employee has their own strategic plan to improve their work skill and
also how they work to get to the organization goal real. Every employee must work on their goal
to improve the organization performance and be competitive in the market.
Managerial Director
Director Human
Resource
Service
- Career planning
research
11
5.4 Human Resource Planning
The organization properly utilizes and maintains the most valuable asset: -skilled and effective
employees. The company uses the plan to accommodate various tasks and goals such as: -
The recruiting director sees their entire applier document the document includes like educational
background, the employee profile or background. The manager selects who is qualified for the
place then there is a rank which the organization put a GPA to the new employees who is pass
the rank they tested by paper which means paper exam all employees get their exam; they must
get the paper exam above 50 to go to the last level which is interview.
The interview process will be asking the employee some question like: -
When a new employee is hired from outside a new job position is opened, or an existing job
position is opened or an existing job position is released and it is not possible to fill it through
transfer and promotion because there is no employee who meets the criteria.When any employee
is hired, will be notified of the position and salary in writing, as well as a list of the work.
Candidates who have equal point in the competition for recruitment will be considered according
to the mentioned criteria and the recruitment and development will be done according to the
12
decision of the human resource management guidelines. The probationary period of a new
employee shall not exceed 60 working days of commencement of work. When the employee
performances good the person will be permanent this means the person will be work in the
organization like regular workers
5.5.1 Orientation
In consultation with the labor union, the company organizes a work visit program when it is
convenient for the workers in each department to visit manufacturing companies to develop their
work skills and have good work motivation.
Also, an educational seminar will be given by the director so that workers and production and
productivity can be further increased.
The vacancy that will be promoted by the company a problem arises and it is necessary to fulfill
it an internal notification is issued t the employees the company with the permission of the
managing director. Workers who meet the required educational and experience, physical or
mental qualification will be invited to compete.
When the employees productive in their work the organization give them a gift like add extra
money that is not charge on their salary it’s like bonus, the other one is annual leave and other
thing the organization do for their employees.
13
5.5.4 Decision Making
The decision making the manager plays a crucial role in serving the decision as the growth and
failure of an organization are dependent on timely decision taken. That is consciously chosen
from among a set of desired options to achieve the result.
When every person who work in the organization fill the form in this process the employees and
also the manager gets above 60% to be effectiveness in the organization otherwise the
organization need to work and make a training process for the employees.
To say the organization is effective there must follow their rule and regulations also achieve their
goal by scheduled time.
I observe and work also on 3 tasks: -purchasing, inventory control and material storage. In
purchasing process to arrange the supply of materials, spare parts and services or semi-finished
goods, required for the organization. And specified quality in desired quantity available at a
prescribed time at a competitive price. In purchasing process, it does not stop at placing orders it
ensure that material do arrive at the right time. It also contributes cost reduction through value
analysis, standardization.
Working with supplies and purchase add value to the organization. The cost has been identified
the buyer can develop strategies on how to manage purchase in each category.
Inventory control the way of the organization controlling the material such as setting inventory
level doing various analyses as fixing economic order quantities, setting safety stock level, lead
time analysis and reporting.
In material storage I was carried in receipt of income goods, inspection of all receipts, stored
and preservation, identification of all material stored, packaging. In the material storage there
some rules the organization follow: -all materials have good security, controlled, cleanliness, and
insurance for the material, minimization of obsolescence and damage through timely disposal
and efficient handling, maintenance of records, proper locations and stocking is done.
Investment decision
Financing decision
Dividend decision
Working capital decision
15
-Investment decision the organization involves the evaluation of risk measurement of cost of
capital and estimation of expected benefit from a project. This decision involves the organization
with respect to replacement and renovation of old assets. The manager of finance must maintain
an appropriate balance between fixed and current asset in order to maximize profitability and to
maintain desired liquidity in the organization.
The investment decision manager also makes capital budgeting. Is important decision as it
affects the long-term term success and growth of the organization. The same time it is difficult
decision because it involves the estimation of costs and benefits which are uncertain and
unknown.
-Financing decision the manager concerned the financing mix or financial structure of the
organization the raising of funds requires decision regarding the methods and sources of finance
relative proportion and choice between alternative sources time of floatation of securities.
The financial manager must develop the best financial mix or optimum capital structure for the
enterprise so to maximize the long-term market price of the company shares. A proper balance
between debt and equity is required so that the return to equity shareholders is high and their risk
is low.
-Dividend decision the manager decision to achieve wealth maximization objective this policy is
decide whether to distribute all the profit in the form of dividends or to distribute a part of the
profits and retain the balanceThe manager should consider the investment opportunities available
to the company, plans for expansion and growth.
-Working capital decision, the manager decided to the related to the investment in current assets
and current liabilities. Current asset include cash, receivables, inventory, short-term securities.
Current liabilities include creditors, bills payable, outstanding expenses, bank overdraft.
Personnel management
Employee welfare
Industrial relation
-Personnel management to ensure the individual growth of each employee which indirectly
contributes to the overall growth of the entire organization.
16
-Employee welfare concerned with the working condition and the amenities at the workplace. It
makes the environment worth working by eliminating workplace hazards, providing job safety,
medical and health services.
-Industrial relation maintains peace and harmony in the organization. It requires effective
interaction with the labor or employee unions, sensitively addressing their grievances and setting
their disputes.
How to work with group of people and new culture, new atmosphere of working, new way of
understanding the work. How to adopted to new tea also working area. Try the best and set
priorities make sure handle the situation where ever the problem is hard also unbelievable try do
give up. It’s not only work culture it’s about optimal career path.
I Understand and possess a willingness to work hard. In addition to work hard, it is also
important to work smart. This means learning the most efficient way to complete tasks and
finding way of save time while completing daily. It’s also important to care about job and
complete all tasks while maintaining a positive attitude.
Come to work on time, are there are supposed to be are responsible for the action and behavior.
It’s important to keep supervisor abreast of changes in the schedule or to be late for any reason
this means keeping the supervisor informed on the tasks that has been assigned.
17
7.2. Classroom experience to actual work
The educations I learn in the classroom help me a lot in different way like every subject I took
have their own advantage in the internship program I work on material management the course
material help me like how to control material by my own idea and work with team it is not easy
work in the area of material without any concept and knowledge. In this department there are 5
types the material management focuses on to work the course helps me to handle and work
comfortable.
Let’s define the organization strength as this time it’s hard to handle materials and import large
things from other country there is customer need, transport risk like if anything happened on the
materials the organization is on the risk handle this all thing as a company in my opinion it’s the
strength of the company.
There are many risks in the organization like: -transport risk, political
risk in international trade.
Limited product availability
Too many levels of reporting in the organizational structure
Confusing service policies
18
Inadequate of market development
Area growth
8.1 Summary
The company is a business and services giver these means they import Tractors,
combiners, pumps and agricultural machinery spare parts Importing this kind of
Agricultural materials from other countries and exporting different a gricultural products
allowed them to benefit the customer and also makes profit so it means they are both a
business and also service provider.
The companies have two branches one in Addis Ababa and the other one in Bahirdar. The
Company have warehouse in Addis Ababa and also in Bahirdar.
The organization properly utilizes and maintains the most valuable asset: -skilled and
effective employees. The company uses the plan to accommodate various tasks and goals.
The organization follow rule on effectiveness of the employee and managers also
generally the organization. These works every works have evaluate this work year or
semi year.
19