Internship-report - INTERNSHIP REPORT SYED ARSALAN ALI 8990 BBA(H Bank Alfalah Limited Name Syed Arsalan Ali ID No 8990 Control No S12-19 Major Field

Internship-report - INTERNSHIP REPORT SYED ARSALAN ALI 8990...

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INTERNSHIP REPORTSYED ARSALAN ALI8990BBA (H)
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Bank Alfalah LimitedName: Syed Arsalan AliID No.: 8990Control No.: S12-19Major Field: Finance 1.1.Company where internship was served : Bank Alfalah LimitedDuration: From 28thMay, 2012to 8thJuly 20121.2.Report based on (Tick) Option 1 ___________________ Option 2 ________________1.3.Due date of the report 23rdJuly, 2012(2 weeks after the successful completion of internship)1.4.Report submitted on 26thJuly 20121.5.Delayed by 3 days (if applicable) 1.6.Reasons for delay: Evaluation could not be done due to supervisor’s leave(If applicable)
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Bank Alfalah LimitedTable of Contents1. Department Attached To..........................................................................................................................11.1.Functions of the Department.......................................................................................................11.2.Work done in the Department.....................................................................................................22. Theories/Concepts Learned and Their Application..................................................................................52.1.Department.................................................................................................................................52.2.Concepts learned in IoBM being applied.....................................................................................52.2.01.The Accounting Cycle...........................................................................................................52.2.02.Balance Sheet and Income Statement.................................................................................52.2.03.Cost Principle.......................................................................................................................62.2.04.Mark-to-Market Principle.....................................................................................................62.2.05.Advances and Provisioning...................................................................................................72.2.06.Cash Reserve Requirement (CRR) and Statutory Liquidity Reserve (SLR).............................72.2.07.Bank’s Spread.......................................................................................................................72.2.08.Off-Balance Sheet Activities.................................................................................................72.3.New Concepts Learned................................................................................................................82.3.01.Nostro Accounts...................................................................................................................82.3.02.Interest Suspense Account...................................................................................................82.3.03.Branch Adjustment Account................................................................................................82.3.04.Call Money Lendings and Borrowings..................................................................................92.3.05.Revaluation of Fixed Assets................................................................................................102.3.06.Statutory Reserve...............................................................................................................102.3.07.Reserves.............................................................................................................................112.3.08.Off-Balance Sheet Activities...............................................................................................112.3.09.Key Ratios...........................................................................................................................122.3.10.Effect of Loan Losses and Provisioning on Balance Sheet...................................................152.3.11.SBP and its Measures of Capital Adequacy (NPL Monitoring)............................................16References.................................................................................................................................................17
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Bank Alfalah Limited1. Department Attached ToDepartment Finance Division (Financial Reporting Unit)Supervisor’s NameFahad AsadDesignationSenior Manager Financial ReportingDuration 6 weeks1.1.Functions of the DepartmentThe Finance Division of Bank Alfalah is composed of multiple units namely: Financial Reporting,Budgeting and Monitoring, Internal Control, Tax, Reconciliation, Equity Settlement, Temenos-24(Core Banking Platform), Basel II and Stress Testing, and SBP reporting units.The first and foremost function of the Financial Reporting unit is the preparation of thequarterly and annual financial statements of the Bank. These statements are prepared incompliance with the Companies Ordinance 1984, Banking Companies Ordinance 1962,International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles(GAAP). The statements and the accompanying notes are prepared in accordance with theformat provided by the State Bank of Pakistan (SBP) through its Circular No. 36 issued on 10thOctober 2001.To prepare these statements, the reporting unit coordinates with other departments of theBank to get the figures that have to be entered into the statements. For example, the figure forinvestment in securities is obtained from the Treasury Department, the figure for provisioning ofloan losses is obtained from the Credit Administration Department and Risk Managementguidelines and procedures which are reported in the notes are taken from Risk ManagementDepartment.
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