In plant wise requirement various excel files are prepared which is as follows

In plant wise requirement various excel files are

This preview shows page 64 - 68 out of 91 pages.

In plant wise requirement various excel files are prepared which is as follows Summery statement Revenue expenditure Capital expenditure RCC wise Similarly depending upon the functions various budgets is prepared. Basically here for production and engineering GJ-IMT,MOHALI ANUJ KUMAR SRIVASTAVA Page 64 of 91
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requirements send by RCC head is provided in plant wise description chart but for others such as Personnel/security Safety/ETP QA/QC Stores In above functions division wise budgets are also made for example QA/QC -> Division -> PDL QA Contract Manufacturing Personnel/security -> Division -> Personnel/security Division Management Division Accounts Separate budgets are prepared and then sanctioned by respective head. Now the budgets prepared by finance department is further send to respective departmental head. Then plant heads, followed by Vice President & onwards as per the Capex amount, approves these capex’s. As explained earlier Finance manager maintain the budget information, following manufacturing locations of API are catered at Mohali Division MOHALI TOANSA DEWAS GJ-IMT,MOHALI ANUJ KUMAR SRIVASTAVA Page 65 of 91
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After preparation of Budgets, BOD approves Capital Expenditure by initiating CAPEX form by Plant head that is appropriately signed by requisite authorities. In CAPEX Form itself amount is classified into various categories A. Replacement/Cost Reduction B. Expansion into New Product/New Product Packs C. Quality, Safety, Environmental D. Expansion of Existing Products Packs E. Replacement: Maintenance of Business F. Others All kinds of expenditure are classified into above head for API Manufacturing for approval of Capital Expenditure Accounting Route for API Manufacturing Capital Expenditure When top authorities approve the Capex requirement then an internal order number is created by Plant department. After the creation of internal order number finance department inform respective accounts department about the same. On receipt of the IO, indenter will create the purchase requisition that subsequently go to purchase department. Purchase department will float enquires and prepare comparative charts for at least 3 vendors. After selecting the vendor, purchase department will place a purchase order (PO) on the vendor for supply of the asset. In case, as per the terms of the PO, any advance is to be given to vendor, the same is released by accounts department, after passing the necessary entries in the vendor account under respective business area (BA). The purchase department while preparing the PO would ensure to mention complete name as “RANBAXY LABORATORIES LIMITED, API MANUFACTURING” and address/ location of delivery of the asset. On receipt of the goods, the GJ-IMT,MOHALI ANUJ KUMAR SRIVASTAVA Page 66 of 91
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Stores department will arrange to prepare the GRN and get the same approved by the user department. On approval of the GRN, the stores department will send the bill to accounts for invoice verification. The accounts department will verify the invoice with PO and release the balance payment to vendor.
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