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Internship Report

On

SUBMITTED BY Abid Hussain

MB-1-10-54622

Submission date February 28, 2013

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Table of Contents

ACKNOWLEDGEMENTS ............................................................................................................ 3

EXECUTIVE SUMMARY ............................................................................................................ 4

ABOUT ORGANIZATION ........................................................................................................... 5

Our Vision................................................................................................................................... 6

Our Mission................................................................................................................................. 6

University.................................................................................................................................... 8

Main Business Function of the Organization: ............................................................................ 9

FINANCE DEPARTMENT AND IT’S FUNCTIONS .................................................................. 9

Various Sections in Finance Department.................................................................................... 9

Book and Budget....................................................................................................................... 10

Bills Payable ............................................................................................................................. 10

Establishment ............................................................................................................................ 10

Internal audit: ............................................................................................................................ 10

Other functions of Finance Department are, ............................................................................. 10

SUMMARY OF MY LEARNING AS INTERNEE .................................................................... 11

CONCLUSIONS........................................................................................................................... 13

RECOMMENDATIONS .............................................................................................................. 13

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ACKNOWLEDGEMENTS

All the praises are for the almighty, Allah who bestowed me with the ability and potential to

complete this Internship. I also pay my gratitude to the Almighty for enabling me to

complete this Internship Report within due course of time.

Words are very few to express enormous humble obligations to my affectionate Parents for

their prayers and strong determination to enabling me to achieve this job.

I take this opportunity to record my deep sense of gratitude and appreciation to my

Supervisor Mr. Noor Mohammad Shahzad, Accounts Officer Aga Khan University

Hospital for his constant encouragement and inspiring guidance with his Wisdom.

I also appreciate the cordial co-operation from all my concern Managers in the different

departments of Aga Khan University Hospital especially Mr. Ameen Megani and HR

Department for providing me requisite information and knowledge for compilation of my

complete Internship.

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EXECUTIVE SUMMARY

Aga Khan University Hospital, Karachi is a philanthropic, not-for-profit, private teaching

institution committed to providing the best possible options for disease diagnosis and team-

based patient care.

I have my internship in Aga Khan University Hospital, in which I got training from its

finance department. The internship basically revolved around the product knowledge

training. The system, the style of working & the commitment of the employees in AKUH is

really exemplary.

The difference between the success & failure is doing things right and doing things nearly

right, & AKUH has always tried for success & that is why it is known to be one of the

leading organizations in Pakistan and in the World as well.

In this report I have given a brief review of what I have seen during my internship. I have

mentioned all these as I have made an internship as according to the schedule. I also

mentioned about the AKUH and vision/mission of The Organization.

Then I have discussed about my learning in the whole internship that is all about the

terminologies. I have made it possible to write each and every thing that I have learnt there. I

have all my practical efforts in the form of this manuscript that’s the asset for my future

career.

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ABOUT ORGANIZATION

Aga Khan University Hospital,

Karachi, (AKUH) started operations in

1985, as an integrated, health care

delivery component of Aga Khan

University (AKU). It is a philanthropic,

not-for-profit, private teaching

institution committed to providing the

best possible options for diagnosis of

disease and team management of

patient care. AKUH's multidisciplinary

approach to diagnosis and care ensures

a continuum of safe and high-quality care for patients – all services under one roof.

This University Hospital has 542 beds in operation and provides services to over 38,000

hospitalized patients and to over 500,000 outpatients annually with the help of professional

staff and facilities that are among the best in the region. Care is available to all patients in

need. Those who are unable to pay for treatment, receive assistance through a variety of

subsidies and the

Hospital's Patient Welfare

Program.

AKUH is the first hospital

in Pakistan and among the

first few teaching

hospitals in the world to

be awarded the

prestigious Joint

Commission International

Accreditation (JCIA) for

practicing the highest

internationally recognized

quality standards in health

care. Similarly, the Hospital also holds ISO 9001: 2000 certifications for practicing

consistent international standards of quality services.

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Our Vision

“Aga Khan University will be an autonomous, international

institution of distinction, primarily serving the developing

World and Muslim societies in innovative and enduring ways.”

Our Mission

“AKU is committed to the development of

human capacities through the discovery and dissemination

of knowledge, and application through service.”

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Facilities

The Hospital is equipped to diagnose and treat Medical (including Cardiac), Surgical,

Obstetrics and Gynecology, Pediatrics and Psychiatry patients and its inpatients have an

average length of stay of 3.6 days. The Hospital also provides comprehensive Oncology

Services including: Medical and Surgical Management, Radiation Therapy, Chemotherapy

and Bone Marrow Transplant. AKUH has 577 beds in operation including 4 VIP, 106 Private

and 100 Semi-Private air-conditioned rooms, 202 General Ward beds and 32 Surgical Day

Care beds. In addition, 70 Special Care Units (SCU) and 08 Cardiac Step Down (CSDU)

beds are located at various locations within the hospital and55 Critical Care beds are

available in Intensive Care Unit (ICU), Coronary Care Unit (CCU), Coronary Intensive Care

Unit (CICU) and Neonatal Intensive Care Unit (NICU). The Hospital has 11 main operating

theatres. There arefour additional operating theatres in Surgical Day Care, 2 in Community

Health Centre, 1 in Obstetrics and Gynaecology and 2 mini-theatres in the Section of

Emergency.

State-of-the-art Pharmacy, Radiology (including nuclear medicine), Laboratory,

Cardiopulmonary, Neurophysiology and Rehabilitation services are available at AKUH. A

fully equipped Emergency Room is open 24 hours a day with a Triage desk and Fast Track

System to ensure prompt medical attention for all patients. AKUH Laboratory operates over

130 phlebotomy or specimen collection centers in Karachi and all major cities of Pakistan.

The Hospital also operates nine off-site medical centers (Integrated Medical Service Units) in

various parts of Karachi. Home Physiotherapy and Home Nursing and Health Care Services

are also available in almost all areas of the city. These off-site services are a part of AKUH's

outreach programmed to facilitate public accessibility to quality health care. The Hospital

draws a large number of referrals from outside Karachi and Pakistan and operates Patient

Information and Referral Desks in Hyderabad and Quetta and a Representative Office in

Dubai, U.A.E. These offices provide assistance by coordinating all necessary arrangements,

including review of medical history by consultants prior to the patient's arrival at the

Hospital.

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University

Founded by His Highness the Aga Khan and chartered in 1983 as Pakistan's first private

university, Aga Khan University's (AKU) objective is to promote human welfare in general,

and the welfare of the people of Pakistan in particular, by disseminating knowledge and

providing instruction, training, research and service in the health sciences, education and

such other branches of learning as the University may determine. It occupies a pivotal place

within Aga Khan Development Network. AKU brings international expertise to bear upon

the establishment and enhancement of its current and future programs and services through

ongoing partnerships with prestigious overseas institutions. Additionally, in line with its

commitment to the advancement of the status and professional opportunities for women, the

University seeks similar collaborations to strengthen women-oriented professions such as

nursing and teaching. Through its Medical College, School of Nursing and teaching Hospital,

its Institute for Educational Development, Institute for the Study of Muslim Civilizations and

the Examination Board, the University educates while contributing to the development of the

areas in which it operates.

AKU is a non-

denominational institution

open to all, irrespective of

religion, ethnicity, gender

or national origin. Forty-

four per cent of the

University's faculty is

women, many in senior

posts. Fifty per cent of

students in the Medical

College are also women.

The University's admission policy is needs blind and based on merit. For 2006-07, almost

half of the students receive financial aid. While the University sets its sights on the latest

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breakthroughs in health sciences and technology, as well as the application of well-proven

and appropriate technologies that have been insufficiently applied in Pakistan,

it also seeks to integrate systems of values, ethics and principles. In doing so, AKU is an

important force for pluralism, teaching the skills of critical thinking, analysis and problem

solving, while inculcating moral reasoning, ethics and respect for others.

In its first two decades, AKUH’s major focus was in the fields of health and education. In the

decade ahead, the University plans to step beyond professional education towards becoming

a comprehensive university.

Following the liberal arts model, a Faculty of Arts and Sciences will be established on a new

campus in Karachi and East Africa. It will develop skills in critical thinking and analysis,

raise proficiency in verbal and written communication, enhance human resource

development in the region, and advance understanding in particular academic disciplines.

Main Business Function of the Organization:

There are two main business functions of Aga Khan University Hospital.

To provide health services to the patients

To provide education to the students

AKUH is the first hospital in Pakistan and among the first few teaching hospitals in the

world to be awarded the prestigious Joint Commission International Accreditation (JCIA) for

practicing the highest internationally recognized quality standards in health care. Similarly,

the Hospital also holds ISO 9001: 2000 certifications for practicing consistent international

standards of quality services.

FINANCE DEPARTMENT AND IT’S FUNCTIONS

Various Sections in Finance Department

Book and Budget

Sales & bills payable

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Costing & establishments

Internal audit & price store ledger

Book and Budget

Book and Budget

Collection of accounts from different sections

Preparation of trial balance and final accounts

Co-ordination with auditors

Helping statutory auditor

Bills Payable

This section handles the payment to be made to the suppliers. This includes the receiving of

stores receipt vouchers, purchase order and their verification in terms of quality and quantity.

Once the claims are found satisfactory, the payment is made as per the terms.

Establishment

This section handles all the payment to the employees such as

Salary & provident fund

Incentives

Medical reimbursement

Internal audit:

After preparing the balance sheet, the internal auditors will audit & they send audited balance

sheets to the government auditors to audit the balance sheet.

Other functions of Finance Department are,

Payment of wages and salaries

Payment to suppliers

Foreign purchase payments.

Cash management.

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SUMMARY OF MY LEARNING AS INTERNEE

It was a tremendous experience that I have availed with devotion and commitment. But one

thing I want to share its not easy that looks it has a great toughness and complications in its

process but the overall it was nice and great. Here I am sharing some of my learning

regarding my internship in respective departments.

Following are the some terminologies which I learnt, which I practiced during my internship

in Finance Department of AKUH, Karachi.

Making Vouchers

Making Payments

Making Adjustments

Remittance Vouchers

Making proposals of Vendors

AKUH uses Oracle's PeopleSoft (SAP applications): designed to address the most complex

business requirements. They provide comprehensive business and industry solutions,

enabling organizations to increase productivity, accelerate business performance, and

provide a lower cost of ownership. All the departments are centralized through PeopleSoft.

Following are difference functions of PeopleSoft application.

People Soft Financials

People Soft Financials sets new standards for financial systems power, performance, and

precision. Unlike traditional systems that automate clerical accounting functions, People Soft

Financials focuses on the operational and management aspects of accounting. People Soft

Financials packs new approaches to financial management into tightly integrated systems

that span all aspects of accounting. People Soft Financials makes it easy to respond to

operational changes and access and analyze the financial information one need across

departments, business units, and international borders.

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People Soft General Ledger

People Soft General Ledger combines accounting, consolidation, management reporting,

executive information, decision support and budget into one streamlined systems package.

They include an unrestricted chart of accounts definitions, balancing by Chart Field,

summary ledger processing, average daily balancing, an unlimited number of accounting

periods, effective dated information, summarization using graphical tree structures, multiple

ledgers, multiple business units, sophisticated allocation and budgeting-plus. Taken together

it is probably the most innovative integration of spreadsheet technology and financial

reporting ever.

People Soft Payables

People Soft Payables reaches beyond simple payment processing to anticipate the

disbursement requirements of complex organizations. It delivers comprehensive payables

functionality for traditional AP tasks-from entering invoices to setting up pay cycles to

reconciling bank statements. It also offers innovative decision making capabilities, such as

lost discount alerts, long term cash forecasting, and "what if" trial payment registers.

People Soft Receivables

People Soft Receivables is an accounting and management information system. The system

can fulfill the business requirements of both accounts receivable and credit management

staff. The system furnishes sophisticated online and background processing for billing

activity, payment application, and open-item maintenance. Credit management personnel

also have access to extensive status and payment history data for all customer accounts.

Inventory

People Soft helps in inventory management. Now, there is no need to raise requisition for

daily purchases such as stationary and biscuits and it has become a single window operation.

There is no need to call finance and every manager can review his department’s order

information. The requisition status can also be known.

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Advantages of People Soft

o Overall, People Soft modules provide the following benefits:

o Empower the users

o Is good functionality wise

o Upgrading data is easy

o Makes processes efficient

o Provides information for decision making

o Employees have more access

o Searching for information is easy

o Work flow is maintained

CONCLUSIONS

The time spent for the internship at AKUH were no doubt a source of great learning for me

about many things particularly working in Finance Department. This practical project do

help me attain loads of knowledge about the predominant functions performed by banking

companies, but also impart a lot of training as regards the set of behavioral traits which

distinguish a particular person from the rest of the lot in a professional environment.

RECOMMENDATIONS

The training program should also be more inviting and involving. It has been proven

that when people are part of the change process their resistance to the change is much

lower. Rather than imposing change, helping employees bring that change will result

in quicker and wider acceptance of the system.

People Soft is internationally developed software and some of the modules need to be

customized according to Pakistani law requirements and business practices. This

requires a specialist team to customize the modules, which causes errors and bugs in

the system. If AKUH collaborates with other organizations that use People Soft, it can

collectively overcome the problems caused by customization.

The End!