Assignment #3 Internship Report PDF

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Internship Report...

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Table of Contents I.

Executive Summary…………………………………………………………………..3

II.

Company Profile……………………………………………………………………...4

III.

Experience/Assignments in the Company…………………………………………..6 a. Purpose of Task………………………………………………………………..6 b. Problem………………………………………………………………………..7 c. Project Assigned………………………………………………………………7 d. Experience……………………………………………………………………..8 e. Recommendation………………………………………………………………8

IV.

Work Cited……………………………………………………………………………9

I.

Executive Summary: In this Spring quarter, I have intern at ADURA LED Solutions as an Accountant. This

company is located in the city of Corona. The company is leading in thermally conductive SinkPADTM Printed Circuit Boards. I like the organizational structure of the company. This structure is defined as a Line organizational structure. My job is to Prepare Sales Order and Triplicate, Accounts Receivable and Accounts Payable, Entries on Google doc for sales order, inventories and shipping related information, Invoice to Customers, Make Journal Entries and Adjustment Entries, Bank Reconciliation, etc. During, interning in this company, I do not face any problem. The company’s every department is well organized and mainly, I like the way that they are organized Accounting Department. In this company, work is very high volume of paper and it is difficult to trace the paper if the company need it for some verification. So, I recommended to scan the documents because it is easy to find the scan documents in the computer.

II.

Company Profile: ADURA LED Solutions (ALS) company manufacturer of all types of LED

modules. The company is leading in thermally conductive SinkPAD TM Printed Circuit Boards. As a leading global provider of efficient lighting Module solutions, ADURA LED Solutions today empowers its customers and business partners to become more successful by making their lighting Fixture product highly efficient, running cooler and offering longer life. The company’s component lighting solutions deliver superior quality, highest reliability, and impressive energy savings to provide their customers with a strong competitive edge. As a leading manufacturer of high-quality LED modules in California, ADURA LED Solutions has gained high market shares, established good reputations and credibility in the North American domestic market by offering excellent quality products with a competitive price and exceptional customer service. Mission and Vision Statement of the ADURA LED Solutions: To be lead Manufacturer of LED Solutions, specializing in LED Assembly and Thermal Management for lighting fixture manufacturers worldwide. To be the trusted leader in manufacturing customized LED Modules & SinkPAD™ Printed Circuit Boards by focusing innovation, thermal management, supply chain, excellence in quality, quick turn-around time and customer satisfaction. At ADURA, the company establish long term partnership with their customers by continuously improving quality through ongoing investment in R&D to develop leading edge technologies. The beautiful thing about this company is that is it always moving in different directions. During my internship time at Adurat LED Slotions, I have learned that they are always searching for new content and new technology.

As a small organization, there is ten sectors in the organizational structure. The following chart is called Line organizational structure chart. Line organizational structure chart is one of the simplest types of organizational structure. The advantage of a Line organizational structure can be identified as the effective communication that brings stability to the organization.

CEO

Director: Sales

Marketing Accounting & HR

Manager: Operations

Operators

Sales Personnel

Purchasing

Purchase Assistant

Logistic

As we can see above chart, each department has its own set of operations such as; Accounting, Human Resources, Operations, Marketing, Purchasing, etc. Accounting is the heart of the business. It helps to track income and expenditures, create budget and future projections, and prepare financial statements. I currently work in the Accounting department.

III.

Experience/Assignments in Company: I began my internship at ADURA LED Solutions in March of 2020. I am working as an

Accountant. By interning in Accounting at ADURA LED company, it’s great opportunity for me to learn and gain a first-hand experience in Accounting department and solidifying accounting principles. Accountant play important role in business activities. It helps to track income and expenditures, create budget and future projections, and prepare financial statements. The company was enjoyable, there was still a flaw that I was able to catch right away and I believe there are ways to refine the issue. A. Purpose of Task: Following are my activities and responsibilities at the ADURA LED Solutions. 

Prepare Sales order and Triplicates (for Accounting, Operation and Shipping).



Entries on Google doc for sales orders, inventories, and shipping related information.



Invoice to customers, once the material is shipped.



Accounts Receivable and Accounts Payable.



Make Journal Entries and Adjustment Entries to Peach-Tree.



Bank Reconciliation.



Preparation of Financial Report.

The above activities and responsibilities are performed in coordination with Operations, Purchasing and Logistic department. Operation department process the order based on information available on Triplicate and Google docs. Purchasing department placed purchase order for the parts/supplies based on inventory.

The main purpose to create Sales order and Triplicate is to make entry of purchase order received from customer. It includes the details of orders i.e. ordered item description, quantity, unit price, total order value, etc. I have to enter the sales orders and shipped material entries in google docs. Accounts Receivable are the amounts owed to a company by its customers and it considered as an asset to a company. Accounts Payable are the amounts owes to its suppliers and it considered as a liability to a company. Journal entries provides records of all business transactions in one place on the time and date basis. Adjustment entries an important part of the accounting cycle and are made at the end of an accounting period. Bank reconciliations are an essential internal control tool and are necessary in preventing and detecting fraud. They also help identify accounting and bank errors by providing explanations of the differences between the accounting record's cash balances and the bank balance position per the bank statement. B. Problem: I do not have any work experience. During intern, I got an opportunity to have an experience in Accounting department of a manufacturing company. Initially, it was difficult for me to understand the paper flow and the process. With my consistent efforts, patience and practice, under the guidance of the head of Accounting Department, I am able to understand and implement the Accounting process. For the beginners, the Accounting process is not an easy task. I realized this fact during this internship. C. Project Assigned: As an intern, I did not have any form of projects assigned that had me try to resolve that problem. Personally, because I am just an intern, I did not have the power to make any official changes. But what I did, do is work to the best of my ability to show everyone that even someone who is not of the white decent carries an equal amount of creativity and knowledge. Building

strong relation with fellow and co-workers also a great way to leave strong mark at ADURA LED Solutions. D. Experience: My experience at company was amazing. The environment was very free spirited which allows all the employees to really get inspired by their surrounding peoples. Everyone knew what he or she was doing because each and every one of had a specific job to do. Working as an Accountant include a lot of data entry to the software to keep financial date accurate. E. Recommendation: The company has very well-established process of Accounting. The work is high volume of paper and it is difficult to trace the paper if the company need it for some verification. So, I recommended to scan the documents that will ease the situation....