The accounting, auditing and reporting practices of Summit Communications Limited

Abstract

The major goal of this report is to meet the requirements of the BBA program. This internship program is aimed to apply theoretical information earned in the BBA degree's courses to a specific field. This report provides information on management of accounts payables of SCL to understand payments of the organization. In the report different expense vouchers are used which the organization uses to support and record transactions. In addition, I attempted to show the efficiency of SCL Finance's Accounts Payable department's invoice processing system in terms of achieving on-time payment deadlines. In SCL, Microsoft Excel is used to record daily and monthly information which is the shifted to the software. Furthermore, this paper concentrated on the role of the SCL Finance team's Invoice Processing Procedure. I quickly reviewed SCL's finance department and how invoices are processed in order to satisfy the contract's on-time payment deadline. The information was gathered from the Finance division's Accounts Payable. This data is a sample size obtained throughout my three-month stay at the host organization, and data is examined based on those three months. The report also considers the fact that it has some limitations in presenting management of payable through the software as I do have very limited access to the software and the internship period was very short time to understand an organization in depth and the report only focuses on the expense related transactions.