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IFRS Rules On Inventory Counting Process & Depreciation Calculation

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IFRS Rules on Inventory Counting Process & Depreciation Calculation

“Integrated Marketing Service Ltd- IMS.”


Course Title: Internship/Senior Project
Course ID: BBA499A
Semester: 2023 - Autumn

Prepared For
Mohammed Naveed Adnan Siddiquee
Lecturer A (Senior Lecturer), Accounting
School of Business and Entrepreneurship
Independent University, Bangladesh

Prepared By
Tahajid Sadat Arnab
ID: 2021494
Submission date: 7th December
2

Letter of Transmittal

7th December 2023

Mohammed Naveed Adnan Siddiquee

Senior Lecturer,

Accounting

School of Business & Entrepreneurship

Independent University, Bangladesh

Subject: Internship report on IMS Accounting& Operation Process.

Dear Sir,

With great pleasure and interest here, I submit my internship report Which you authorized me
to prepare by 7thdecember 2023.The internship program at Integrated Marketing Service Ltd-
IMS was a great way for me to learn a lot and get a feel for what aReal professional office is
like. It was a hard and interesting thing to do. I used everything I learned in my bachelor’s
degree courses. This study is about how IMSAccounting & operationProcess. I have talked
about the Vision, the Mission, the Operational Details, and other important things here. I
have also written about some important things I have learned during my job.

I have worked hard to make this report look good and be as correct and full of information
asPossible. Thank you for giving me this very special chance.

Sincerely yours,

Tahajid Sadat Arnab

ID-202149

Independent University, Bangladesh


3

Acknowledgment

It gives me great pleasure to express my appreciation to the many persons who provided
helpful assistance and encouraging remarks as I compiled this report. I’d like to start by
thanking the higher Power for allowing me to publish this internship report on the
Accounting&amp, operation Process of IMS. My sincerest thanks go to my supervisor,
Mohammed Naveed Adnan Siddiquee Sir, who is aSenior lecturer at the Department of
Accounting at the Independent University of Bangladesh.He let me choose this topic and
gave me advice and help that helped me finish this report. I am grateful to him for working
with me and giving up his time, both of which were crucial to making this report.I’d also like
to take this chance to thank my respected supervisor for helping me work on my topic by
giving me helpful information, ideas, and procedures.
4

Table of Contents
CHAPTER 1 .......................................................................................................................................................... 7

INTRODUCTION ................................................................................................................................................ 7

1.1 COMPANY PROFILE ............................................................................................................................ 7


1.1.1 VISION, MISSION, OBJECTIVE ETC. ................................................................................................ 9
1.1.2 CORPORATE DIVISION ................................................................................................................. 10
1.1.3 DETAILS OF THE PRODUCT LINE AND SERVICE .......................................................................... 12
1.1.4 OPERATION DETAILS ................................................................................................................... 12
1.1.5 CSR .............................................................................................................................................. 13

CHAPTER -2 ...................................................................................................................................................... 14

INTERNSHIP EXPERIENCE .......................................................................................................................... 14

2.1 JOB RESPONSIBILITIES .............................................................................................................................. 14


2.2 FUNCTION OF THE DEPARTMENT .............................................................................................................. 17

CHAPTER 3 ........................................................................................................................................................ 19

ISSUE ANALYSIS ............................................................................................................................................. 19

3.1 ANALYIS OF MARKET ................................................................................................................................ 19


3.2 FINDING PEER GROUP/ MAIN COMPETITOR(S) .......................................................................................... 21
3.3.3 IDENTIFY A SPECIFIC ISSUE AND ANALYZE THE ISSUE BASED ON RELEVANT TECHNIQUES WITH THE
SUPPORT OF SUITABLE THEORY/LITERATURE................................................................................................ 22
3.4 RECOMMENDATION ................................................................................................................................... 29

CHAPTER 4 ........................................................................................................................................................ 30

4.1 DISCUSSION ................................................................................................................................................ 30

4.2 CONCLUSION ............................................................................................................................................. 31

REFERENCES ................................................................................................................................................... 32
5

List of tables
Table 1-Objective………………………………………………………………………………………9
Table 2- Product Line and Service .......................................................................................... 12
Table 3- SWOT Analysis .......................................................................................................... 20
Table 4- Depreciation related issue ......................................................................................... 22

List of figures

Figure 1- IMS field office .......................................................................................................... 7


Figure 2- - Robi Axiata Limited ................................................................................................ 7
Figure 3- IMS e-commerce site ................................................................................................. 8
Figure 4- St Joseph Higher Secondary School - Robindro Sorobor ........................................ 13
Figure 5- Hangout program and selling activities……………………………………………………………..…………14

Figure 6- HMO-NAN 15 Event List and date ......................................................................... 16


Figure 7- Current ratio of IMS ................................................................................................. 23
Figure 8- Cash ratio of IMS ..................................................................................................... 24
Figure 9- Quick Ratio of IMS .................................................................................................. 25
Figure 10- Return on assets of IMS ......................................................................................... 26
Figure 11- Gross profit margin of IMS .................................................................................... 27
Figure 12- Debt to Equity ratio of IMS ................................................................................... 28
6

Executive Summary

My internship with IMS Accounting, Finance&Operation Department began on October 1st,


2023, and continued for a total of Four months, ending on January 31st, 2023. The report that
I am preparing is based on the tasks, responsibilities, and discoveries that I made during that
time.

The first chapter of the report provides appropriate data on the company's profile, vision, and
functions. As a consequence, everyone who takes the time to read it will have a thorough
grasp of the company and how it operates. In today's world, any company that earns profits
and retains a strong position in the industry in which it operates aspires to grow its scope of
operations and expand into other markets.A company cannot be successful in the market,
create profits from its operations, or move toward its long-term goals and objectives unless it
employs some sort of accounting and finance. In the second chapter, I recounted my
experience as an intern, as well as my job responsibilities and department activities.

Finally, I want to mention that in the last chapter, I discussed competitor analysis, industry
analysis, and the findings of empirical analysis. I also give an explanation of some of the
accounting work and offer some recommendations. Additionally, I go over a few accounting
ratios for 2021 and 2022. Working at IMS has been an interesting experience for me, and it's
given me the chance to put the skills I've learned while pursuing my bachelor's degree into
practice. I've worked very hard to make sure my report includes all pertinent facts.

.
7

CHAPTER 1
INTRODUCTION

1.1 Company Profile

Integrated Marketing Service Ltd. is a branding and


communications firm that gives customers. Experiences they
won’t soon forget. Our team of over seventy enthusiastic and
well-organized individuals specializes in several fields,
including Digital Marketing, Events and Activations, Website
and App Development, Data Science, Brand Architecture, and
Creative Visualizations. We have been evolving together to
become Better, Bigger, and Stronger since 2009. We have the
audacity to say, &; You Name It, We Do It, & every time. Figure 1- IMS field office

Our goal is to maximize outcomes via the implementation of efficient communication tactics.
And to renew each collaboration in the most sustainable way possible. They have opened a
new human resources division. The largest audience network in the country is called Clan,
and it provides HR services. The goal of Clans July 2020 launch was to oversee and select
the biggest audience network. Through marketing efforts, we aim to maximize outcomes, and
we’ll renew each partnership in the most viable way possible. Additionally, they currently
have an e-commerce segment called BUY. Customers may purchase food and accessories
from this platform.

They also have a retail sector where they sell


the GP Skitto sim cards to clients. Now, in
the future, they wish to manufacture their
own things and sell them on the market.
They are also planning to build a Bangla
restaurant. Over the top Ott platform and
wish to create films andWeb series on this ott
platform Figure 2- - Robi Axiata Limited
8

Connection between IMS & Clan

One of IMS's subsidiary companies is Clan. It is a company's method of operating in the


digital HRM space. It supplied various reputable global firms with high-caliber workers. It
also does a great deal of research for globally recognized businesses. It makes a sales
application for users. For e-commerce platforms, it also develops applications for tracking
cars and sales monitoring. It develops software for use in every kind of company.
Additionally, IT offers clients digital audiovisual services.It is a new sector for ims, and
things are getting better every day. Customers are satisfied with their service, and the
company is constantly adding new clients. It works for a few international businesses as well.

Connection between IMS & BUY Here Now

Figure 3- IMS e-commerce site

An IMS e-commerce site called BUY Here Now offers delivery services all across Dhaka
around the clock. This website is the first to provide products and dining services together. It
always aims to provide the consumer with the finest service possible. More than 100,000 VIP
clients use it.
9

1.1.1 Vision, mission, objective etc.

Vision

IMS is a leading BTL company in Bangladesh. It has worked with many multinational firms
inBangladesh. Now, it aspires to be the market leader among all BTL companies in
Bangladesh, toMake the market more digital, and to collaborate with international companies
to expand its experience. It wishes to expand internationally and establish new business
platforms in other countries, with the goal of reaching the top in the next years.

Mission

IMS is a Bangladeshi BTl marketing business. It offers its customers the greatest possible
experience. They believe they can succeed in the future provided they provide their clients
with a positive experience. They constantly seek to advance their field of work and introduce
clients to fresh concepts and goods.

Objective

•To give the best experiences to the firm for which we work.
•To present the best goods to our e-commerce client.
•Deliver our goods on schedule and add new clients to our VIP list.
•We must add additional value for our client and cultivate a positive working connection.
•For our outsourcing task, we must establish a new zone and raise the caliber of their
output.
Table 1-Objective
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1.1.2 Corporate Division

Strategy and Planning-

The most significant aspect of a BTL firm is strategy and planning. They provide the client a
clear picture of what we want to perform. First, the customer presented a quick overview of
the project to the team. The team then sits down and generates some ideas; they choose the
finest concept and begin their work; they create a Power Point presentation for the
organization; they provide a thorough pitch regarding the power point; and they set them up
if any changes are required. With assistance from the design team, they also create some 3D
concepts for the customer, which helps them better understand what has to be done for the
event. If the projectis chosen, they assist the operation team in planning the event's schedule
and timing of each program. They help organize the scheduling of the event, determining
when it will occur.

Accounting and finance -

IMS has separate accounting teams for each of its subsidiary companies. They do their task in
a separate way and forward it to the main crew. Every day, the sub team recodes all of the
revenue and expenditure related parts and sends them to the main office. The main team then
begins working, checks the amount and the statement, and safely accounts for all costs and
revenue using IFRS and GAAP regulations. Subsequently, they begin to deliver the last
remarks. They verify the statement for the audit once more. They compute the tax, prepare
the tax declaration, and gift the appropriate amount of tax. Additionally, they assist in paying
the employee's wage, pay off any outstanding debts, and obtain all owed money from the
client.

Subsequently, the team begins to consider the next project, including what kind of work
would be most beneficial for our business. The projects that take less time and yield higher
profits also take into account the time value of money. Because the time worth of money is
crucial to the business during an inflationary period. They must also prepare for the
company's profit, and what they will do with the profit in the future. They also assist in the
preparation of the budget for the next year.
11

Operation -

Operate performance of this organization is greatly impacted by the operation department.


The company's operation department is the largest department out of all of the departments,
and top management assigns tasks to it, which it does. This company's operation department
is divided into numerous sub-sections. For each subsection, they have a distinct person. For
example, the operation team for event management handles the event management portion
and assists them in completing the event item correctly. The group in charge of overseeing
the Nestle caravan site oversees every aspect of its functioning. What item is sold for what
price and when the program will take place are the factors that determine where the hangout
program will take place. They have complete control over everything, so what should they do
if something horrible happens? The buy here now team manages all operations linked to the
ecommerce platform site; they handle all processes, and the team is highly active since buy
here now is a 24/7 ecommerce platform; they all look at all work at all times to provide a
pleasant client experience. Clan operation team manages all aspects of personnel supply to
other companies and the digital planform site created by clan. They administer all digital
service platforms created by clan and care after them while helping to improve performance.

HR-

Our human resources team's primary responsibility is to produce the most competent workers
for both our business and other businesses. Since we provide well-organized work to
numerous businesses, we must choose the finest candidate, and they also assist in the
professional development of our staff. The employee receives some instruction from them as
well. If an employee violates any policies, they will address the issue and provide them with
a notice about it. They also chose the employee's compensation plan.

Design-

Design Team creates 3D designs for clients so they can understand what our business wants
to accomplish with the application. We may then properly inform them about the program's
guidelines and the stages of our work. In order to raise brand exposure, they also create 3D
logos and banners. Additionally, this 3D design aids in the effective execution of our
operating team's tasks by giving them a better understanding of what they are doing and
reducing error rates.
12

Management-

The management team assists in ensuring that every department works well. They also
facilitate departmental communication, provide guidance on what has to be done when and
what kinds of tasks are most and less crucial, and oversee the management of funds and
personnel. If something goes wrong inside the organization, management will handle the hold
think and take the next step. The management team also chose which projects we should
accept or refuse, and they established a healthy rapport with our client organization.

1.1.3 Details of the Product Line and Service

1. Event Management 9. Game Development


2. Corporate Event 10. Integrated Marketing
3. Corporate and Conference 11. Web Development
4. Theme Party 12. Ecommerce platform-
5.3d Modeling 13. Clan
6. App Development 14. Build Ecommerce site
7. Content Creation 15. Tracking web site.
8. Event Activation.

Table 2- Product Line and Service

1.1.4 Operation Details

IMS has a separate operating team for each project. The event management operation team
controls all operations in the field. The planning team provides an idea and a 3D design to the
operation team, and the operation team manages all operations in the field, arranges all
programs, balances all budgets, and supports the accounting team. They want to provide the
best experience and comfort for the client and safety. The BHN operating team is in charge
of all BHN ecommerce performance. They strive to provide the quickest delivery and the
greatest goods to the consumer. They have complete control over the delivery men's dress
code, and as soon as the delivery is completed, there will be no expired products in the
13

inventory. The Nestle caravan operation team organizes school programs to promote our
product. First, they need permission from the school administration. Next, they set up the
date and organize the caravan. Finally, they verify that all of the vice presidents are
appropriately attired, and that the product is of high quality. Additionally, they put up a
hangout program where they sell products, inspect them for quality, and oversee sales money.

Figure 4- St Joseph Higher Secondary School - RobindroSorobor

1.1.5 CSR

The company feeds many of the schools in the Dhaka area for free. In addition to food, the
product offers food items. To raise awareness among the local population in and around
Dhaka city, they organize numerous fire drill programs. During the wet season, they plant
trees. This organization also manages a few madrasas and schools to enhance our educational
system. The school instructor receives their compensation from them. They also provide a
certain sum of money to the madrasa so that its students can eat. Additionally, they assist the
ill in taking their medications.
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CHAPTER -2
INTERNSHIP EXPERIENCE

2.1Job Responsibilities

In October, I begin my internship at IMS.I begin by introducing myself to each office


member. I had a lot of work on day one, but I just learned about the company's job. They
gave me an overview of the company's operations and which people were responsible for
what kinds of tasks.

My first task is to assist my supervisor in creating a Power Point Presentation for the Cholo
Bangladesh performance, as well as creating the budget and Establish the timetable for the
DHL project that I work on, create a budget for them, assist in creating their payment bill,
and Additionally, the companying learned how to calculate taxes and how to pay taxes
through the tax payment procedure.

I begin working with the operation team in the


following section. In the field, I accompanied the
Nestle Product Team. I accompany them to a
new area. I learned how they chose the school,
managed the program, and kept up safety and
cleanliness. Then, I witnessed how the Hangout
program chose the castle and how much
inventory they had to sell every day. I also let
you know who did the product calculation. How
we keep the inventory up to date and how much
it costs each day. Every day after work, I assist in
making the statement to the revenue
manager.This operation curriculum taught me
how to manage the promotions and How can we
inform our customers about our newest products,
boost demand, and solicit their feedback?

Figure 5- Hangout program and selling activities


15

I work here right now on the IMS E-commerce platform called BUY.BHN IS A 24/7 system
for delivering food and goods. I saw how their website functions and how orders are
received. Here, I get knowledge about order inventory counting processing. I also do two
deliveries for clients and retrieve their invoices. Then I saw how they handled buying and
selling accounts, how they computed income and costs, and how they assisted me with some
day-to-day tasks related to their accounts sector. I also witnessed the process by which they
determine their expiring inventory and the impact of a lost account. From there, I observed
how an online retailer operates their business and makes money by providing customers with
the best value.

The pay-giving procedure was then visible to me. How account managers distribute staff
salaries and other costs incurred. I also witnessed how they settled the consumers' bills. How
the dollars were purchased and the foreign consumers were paid. I learned how to pay
salaries, howto purchase dollars, and which procedure to use in order to reimburse clients in
dollars.

After then, I begin working on The HMO initiative, a chain initiative that takes place in 15
different Bangladeshi cities. First, we create the PowerPoint and HMO tree. Next, we record
an interview with a foreign physician and put it to the PowerPoint. Finally, I create the
program's budget. We test our program in a dry run. I visit two programs to inspect the work
and advise who should work in the field. I compile all of the expenses and earnings from this
professional game, which is played in several cities around Bangladesh.
16

Figure 6- HMO-NAN 15 Event List and date

I then observed our Deign team's workflow. They provide a three-dimensional picture and
explain how the software ought to operate. Additionally, they design the stages and present
them to the customer. Additionally, they create the logo and QR code for the clients. Since
we perform part of our work from outdoors, I also learned how much this job would cost if it
were done outside.

I also learned about CLAN's payment system for providing experienced workers to other
companies. How they Create the Website and App for the Customer and How the Website
Functions What are the expenses there, and how do they bring in money and make a profit?
Who received the money, what they are currently profiting from, the client list, etc.?

I discovered How to Include Revenue and Cost in the Statement. Methods for taking notes
while receiving our trade receivable. How we settle our clients' debts and What we trim for
the VAT, I also learned, is how the VAT is calculated. How our organization deprecates
products, how much each item deprecates, how the account manager pays the utility bills, and
how they record these bills.
17

Additionally, the account manager displays make How they create the scene, how they
handle any losses in the pro game, and how they attempt to prevent such losses.

I also calculate what the benefits will be if they accept this proposal for our future project.
They also steal my ideas on where to invest in their next project, how long it will take to pay
them back, and how much money they may make over time.

I then collaborate with two more renowned companies. HSBC is one, and DHL is the other. I
create ppt and 3d designs for them, give them budget ideas, observe how they present to
clients, and offer suggestions for presents and their associated costs. Along with seeing the
program, I also handled the expenses and entered them into the book. I also collected client
invoices and calculated the income statement for the two recent large-scale programs.

Along with this, I also assisted my supervisor and gained knowledge of several new projects.
I helped the account manager keep the account in good standing and assisted him in
calculating the account receivable and account bankable accounts. I assist him in keeping up
the bank book. Additionally, which bank and how much Receive and pay on a daily basis.to
record the expense and degradation on a daily basis. Aid him in overseeing the inventory.

And every day, I make an effort to learn as much as I can from this department as well as
others.Every day, I learn something new that broadens my experience and expertise in the
workplace.

2.2 Function of the department

Strategy and Planning

Strategic Planning Establishing and Aligning Goals


Market Analysis and Research Planning Scenarios and Managing Risk
Resource Allocation Interaction and Congruence:
18

Accounting and finance –

Keeping financial records financial reporting


Internal control Budgeting and forecasting
Compliance and regulatory Reporting Auditing
Financial evaluation Cost Management
Analysis and Planning of Finances Accounting Reporting
Risk management

Operation-

Procedure Administration Management of the Supply Chain


Assurance and Control of Quality

Human Resource

Recruitment and Selection Orientation and Onboarding


Training and Development Management of Performance
Salary and Perquisites Talent Management and Succession Planning

Design-

Graphic Design and Branding Designing for User Interface (UI) and User
Experience (UX)
Creative Direction Prototyping and Visualization
Collaboration with other Departments Create Research

Management-

Arrangement Leadership Strategic Planning


Decision-making Resource Allocation
Communication and Coordination Policy Development and Implementation
Problem-solving and conflict resolution
19

CHAPTER 3

ISSUE ANALYSIS

3.1Analysis of Market

Market size-

In Bangladesh, IMS operates as a private limited business. Its sibling business is distinct. Its
head office is in Banani, and it began operations in 2009.The firm generated revenue of Taka
729233659 in the 2020–2021 fiscal year and increased to 1346650174 in the 2021–2022
fiscal year. Based on these figures, we can conclude that the company performed well in the
2021–2022 fiscal year. Within the city of Dhaka, it has four main offices and four regional
offices. We may classify this firm as a medium enterprise since it employs more than 200
people permanently and more than 5,000 people through outsourcing. The company also
generates considerable income each year. Next year, it will spread to the new two sectors.

Market Trends-

IMS, a below-the-line marketing business, strives to constantly advance its technology and
design. The business aims to provide clients with the greatest experience possible at all times
and strives to adapt to new developments and changes.

Competitive Analysis-

There are several below-the-line marketing firms in Bangladesh. Overall, the firm is doing
well, and they are all aiming for the same clients. Asiatic, Market access, and Dotbirth are
some well-known bTl firms. They begin their adventure before I do. They also have an
excellent manpower and management staff.

Customer Analysis:

One of the phrases seen in marketing policies is "customer is king. “We thus always wonder
how we can provide the finest customer service while spending the least amount of money.
Because there are several rivals in this industry, we must both provide the best customer
service and provide value. That is the reason we always strive to provide the finest possible
service and products to our clients so that we can build strong bonds with them.
20

SWOT Analysis:Assessing the advantages, disadvantages, opportunities, and risks that the
market as a whole and the specific businesses that make up it face.

Strengths IMS consistently maintains strong liquidity.in order for them to use their
excess money to invest in a new industry and increase their income. That
will raise their earnings and expand the market.
Weaknesses Because there aren't enough guys to complete all the programs in this
industry, there are moments when they wish to stop working
Opportunities In addition to the global corporations, our nations also make significant
investments in the marketing industry below. Thus, we must accept this
kind of labor
Threats IMS faces a danger from inflation as many of their projects are lengthy
yet the remuneration is the same as before. Lack of Doller poses a serious
risk as well, forcing them to pay overseas clients with expensive Doller
purchases.
Table 3- SWOT Analysis

Regulatory and Economic Factors

If the economy is doing well, all clients will want to perform more projects; if the economy is
not doing well, no one will want to do any work, therefore income will be minimal. They do
not wish to do or labor during times of political insecurity. And we need approval from the
local government for all of our activities.

Technological Influences

Innovation in technology is critical to this kind of business. We must always be engaged in


this sector's technical aspects. We are in great need of this kind of technological
development. The client requests updates on their work on a constant basis, therefore we
schedule meetings utilizing technology.
21

Risk Assessment

This industry carries a lot of danger. We always have to assume the risk. We must accept the
risk if we want the highest possible event quality. In the 24/7 e-commerce sectors, we have to
deliver the product constantly, so we have to deal with some issues like vehicles that are not
maintained properly, which is why they break down early. By taking risks, we can create
some nice fixtures for the event, and some time to take the event, we give them less budget
about the event. After the event, the company faces loss.

3.2 Finding peer group/ main competitor(s)

There are several businesses in this segment of below-the-line marketing. A few of them are
just opened and lack sufficient sectors, such as instant messaging. However, a few of them
opened their doors in the year 2000, are well-known businesses, large enterprises, and IMS's
main rivals in certain industries. Below is some information on rivals.

Asiatic mcl-

Asiatic is one of Bangladesh's largest BTL companies. They founded their corporation in
1970, and the opportunity in the name came after the war. They have top management
experience with numerous media people. They are IMS' key rivals in this industry. They also
share the same customer schedule. The multinational companies in Bangladesh are their
primary target consumers. Aside from Asiatic, the government works more and does some
work for local companies. They also have the same sort of revenue and the same firm size.

Market Access Providers Limited-

In Bangladesh, Market Access Providers Limited (MAPL) is the industry leader in activation.
Established in 2000, this innovative project is the leader in the BTL business sector.

Their proficiency is on delivering exceptional customer service and ingenuity. Their specialty
lies in creative marketing solutions that involve successful activation tactics. Their distinctive
and one-of-a-kind services have helped us establish a solid reputation in the Bangladeshi
marketing sector. They target the same kinds of businesses, and their markets are comparable
in size to IMS's. Additionally, they are a well-known BTL firm in Bangladesh.
22

Dotbirth-

They are a Dhaka-based creative solutions company. They begin operations in 2000 and
carry out similar tasks to those of IMS. They both want to attract the same kind of customer.
They target the same kind of business and also receive some, but their market size is similar
to that of IMS's, even if they now make less money than IMS. These days, they wish to grow
their business overseas and enter new markets.

Ananta Events & Entertainment

Among the top event management companies in Bangladesh's Dhaka. They are Bangladeshi
event planners who have won awards. We have managed corporate events, conferences,
seminars, brand activation events, arranged exhibitions, fabricated exhibition stands, ATL
and BTL activities, and product launches in Bangladesh over the past 15 years. They perform
the same kind of job as well, but they also handle ATL work.so even though the market size
is almost the same as that of IMS, they make more money than IMS, but their workforce is
less experienced. They are a young team in this industry.

3.3.3 Identify a specific issue and analyze the issue based on relevant techniques with
the Support of suitable theory/literature

I saw that they were working on operations and accounting in IMS. I also contributed a little
bit to the planning and strategy department. My primary area of employment is in
accounting-related fields. I observed how they adhere to GAAP and IFRS regulations. I saw
the procedures for revenue recognition, tax computation, and the computation of inventories
and depreciation.

Some Depreciation related issue –

Particulars Rate
Furniture & Fixture 10%
Computer & It equipment 20%
Application Development 50%
Office Decoration 10%
Office Equipment 20%
Table 4- Depreciation related issue
23

The deprecation was computed for items of this kind. However, they do not count the
bicycles they have for office work, even if they are quite important.

Here in the rules of the GAAP they can calculated the value at the historical cost and
depreciated accordingly underIFRS fixed assets are also valued at cost but the company can
revalue fixed assets .so we have to calculated this type of item deprecation as they are value
and the rate that the tax law is given. By giving this items deprecation the deprecation amount
will rise and the tax will give less that is good for the company.

Inventory Counting Process-

As is well known, GAAP permits both LIFO and FIFO accounting, but IFRS only permits
FIFO accounting. IMS does not calculate inventory using the LIFO or FIFO methods. They
adhere to the mean approach. They should use the FIFO approach in an inflationary period
since it is supported by both GAAP and IFRS and allows them to make more money.
Additionally, they won't be as concerned about things that we can control, which will
enhance our inventory damage loss and allow us to save money.

Some ratio Analysis

Liquidity ratios

Current ratio= Current Assets/Current liabilities

2021 113826167/36385909 3.1283


2022 179192166/73861655 2.4260

Figure 7- Current ratio of IMS


24

The company's current ratio for both years is respectable. The company has three times more
current assets than liabilities to pay off its obligations if its current ratio, which ranges from
2.4 to 3.2. Thus, we may conclude that the business has maintained a solid ratio to pay off its
debt over the inflationary period.

Cash ratio =Cash +Marketable securities /Current liabilities

2021 112626167/36385909 3.0953


2022 166188697/73861655 2.25.

Figure 8- Cash ratio of IMS

For a company, a cash ratio of more than one is desirable, however IMS has consistently
maintained a higher ratio than this in both years. Given that they have a sufficient ER ratio,
they may readily spend this sum in other projects if they so want.
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Quick Ratio= (cash + Account Receivables +Marketable securities)/Current liabilities

2021 113476167/36385909 3.1186


2022 167468697/73861655 2.2673

Figure 9- Quick Ratio of IMS

In general, anything above 1 or 1:1 is a good rapid ratio. The corporation would have the
same amount of liquid assets as current liabilities if the ratio was 1:1. However, IMS's quick
ratio is higher than that, indicating that it has more liquid assets than current liabilities, which
makes it suitable for a company.
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Profitability ratio

Return on assets -Net Income/Total assets.

2021 20918363/113826167 0.1837


2022 28379729/184131847 0.1541

Figure 10- Return on assets of IMS

According to the evaluation, the management of the company is more effective at making a

Profit from its financial resources in 2021 than it will be in 2022.The Corporation performed
better than other companies during the COVID-19 epidemic.
27

Gross profit margin- (sales-Cost of goods sold)/Sales.

2021 30091425/729223659 0.0412


2022 57856770/117100149 0.4940

Figure 11- Gross profit margin of IMS

The business has maintained a positive gross profit margin for the past two years, indicating
that management is working hard to turn a profit.
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Financial leverage ratio

Debt to Equity ratio -Total Debt/Shareholder equity

2021 36385909/113826167 0.3196


2022 73861655/1739192166 0.4121

Figure 12- Debt to Equity ratio of IMS

In 2021, the company will make the best use of its resources. However, it has a good ratio in

Both of the years that they have managed and used the funds.
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3.4 Recommendation

Office vehicles should have their depreciation assessed as they are used for work-related
travel and have a set lifespan. Depreciation is another tool they might use to lower their tax
liability. A lack of demarcation can result in overstatement or understatement of overall asset
costs, which can provide financial information that is deceptive and hinder the firms' ability
to recover the cost of the assets. It can also hinder the real book value of the assets.

They should upgrade their inventory system and switch to the FIFO approach, which will
benefit them more during inflation. In addition to helping with warranty control, FIFO also
helps to expand warehouse space. Additionally, it helps with product quality management.

Based on our ratio study, all of the ratios that we looked at were excellent for businesses;
nevertheless, we discovered that the company needed to invest more in some projects. Both
years' financial leverage ratio and earnings are strong. However, in my opinion, senior
management performed better during the COVID-19 epidemic. If they put in the effort, they
may perform even better in the future.
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CHAPTER 4

4.1 Discussion

I have identified a few issues that require immediate attention as a consequence of the critical
observations I make in the course of my work duties in the IMS Accounting department. For
each problem, many recommendations are provided. The specifics of these recommendations
are provided below:

• To start, IMS need to have improved the inventory counting procedure by implementing
more digital efforts. It also helps the workforce in addition. For example, they ought to make
a dashboard for each warehouse they've connected. They may obtain complete information
on all of the warehouse stock that way.

•IMS should launch an accounting website where account managers from related concern
companies may monitor accounts and update data on a regular basis.

IMS maintains a strong ratio overall across all sectors. However, the company's senior
management must act; with the leftover funds, they can invest in other sectors. Businesses
made a healthy profit margin throughout the COVID epidemic in 2022, and they performed
well during the inflationary period in 2023.They should now proceed with the firms' expiry
and begin working on government projects and with a few reputable Bangladeshi enterprises.
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4.2 Conclusion

IMS is the ideal place to work. Employees can get a great deal of knowledge from them. In
Bangladesh, IMS is another well-known BTL firm. They are employed by Bangladesh's
leading international corporation. They constantly strive to give clients the finest possible
service and consistently high-quality products. They also always design and employ the
newest technologies. IMs attempt to assist people constantly as part of their important role in
CSR. They strive to give its 6000 outsourced workers and more than 200 permanent
employees a high-quality work environment. In the last three months, this firm has taught me
a lot and I appreciate it. They assist me in learning new things and gaining new experiences.
They are now working to create a new industry and raise the caliber of their services. They
also attempt to establish their business overseas. Additionally, I believe that IMs will surpass
all other BTL companies in Bangladesh in the next five years.
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References

1. IMS. (2023). About IMS. Retrieved December 5, 2023, from http://ims.com.bd/


2. Asiatic Marketing Communications Ltd (2023). About us.Retrieved December 5,
2023, fromhttps://www.asiaticmcl.com/
3. Ananta Group. (2023). About us. Retrieved December 5, 2023, from
https://www.anantabd.net/
4. Market Access. (2023).Home. Retrieved December 5, 2023,
fromhttps://marketaccesspl.com/
5. Buy Here Now. (2023).Buy Here Now.Retrieved December 5, 2023,
fromhttps://www.buyherenow.com.bd/

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