Part 1
I am undergraduate from Business Administration Course, the College of Business, Universiti Utara Malaysia. I am required to undergo a 4 months industrial preparation which is my pick to carry through my Bachelor of Business Administration grade class. Therefore, it is a great award to transport out my practical preparation at Hifin Strategik Management Consultants, Perak. I had undergone my industrial preparation from 1 st June 2010 until 30th September 2010. I had placed at Hifin Strategik Management Consultants under the supervising of Mr. Peter Chee Hin Leong who is the Director of the administrative of Hifin Strategik Management Consultants.
During the 4 months of developing plan, I have gained a batch of experience and cognition which I can non acquire from the books. Besides working for Hifin Strategik Management Consultant, I besides help my manager to make the audit portion for the measures of the client of company. Therefore, with the opportunities that my manager gives to me, I have increased my accomplishments to manage the different undertaking in occupation.
Besides that, this preparation plan besides helps me to make my interpersonal relationship with co-workers in an organisation. Through the experiences and cognition that I get from the preparation plan, it will go my counsel to work out the challenges in my hereafter.
2.0 COMPANY PROFILE – RICHAL RESOURCES
2.1 Organizational Goal
Hifin Strategik Management Consultant ‘s end is to offer the quality of fiscal and revenue enhancement adviser services to the full clients. Besides that besides cultivate a diverse high executing squad environment that grows the concern through attracting, developing, forming and retaining people. Furthermore, Hifin Strategik Management Consultant provides prime direction of accounting confer withing services to public and private employers.
2.2 Company Background
Figure: Logo of Hifin Strategik Management Consultant.
Hifin Strategik Management Consultant was set up since 1989, Hifin Strategik Management Consultant is a house that provide a complete scope of professional services which including revenue enhancement, accounting, fiscal, audit and besides developing to all the populace. Hifin Strategik Management Consultant is located in 83B ( 2nd floor ) , Jalan Sultan Abdul Jalil, 30300 Ipoh Perak.
The company has clients scopes are from big corporation to little companies in assorted industries crossing from fabricating to retail to services. The working hr of the Company starts from 8.30am to 5.30pm every Monday to Friday, and the tiffin clip interruption starts at 1.00pm to 2.00pm.
Vision & A ; Mission
Vision – To give our aid and support to your concern through our broad range of services.
Mission – To construct digesting relationships and be ever working of our clients, people and society ‘s trust.
Servicess And Activities Organization
Tax Servicess
Hifin Strategik Management Consultant provides several types of revenue enhancement services for client:
a ) Company Income Tax
A company, whether occupant or non, is assessable on income accrued in or derived from Malaysia. Income derived from beginnings outside Malaysia and remitted by a resident company is exempted from revenue enhancement, except in the instance of the banking and insurance concern, and sea and air conveyance projects. A company is considered a occupant in Malaysia if the control and direction of its personal businesss are exercised in Malaysia.
Following are the signifier that required to filling:
I ) Form C – Return Form of a Company under Section 77A of the Income Tax Act 1967
two ) Form R – Statement of Revised 108 Balance under the economy and Transitional Provisions of Finance Act 2007 ( Act 683 )
B ) Personal Income Tax
All persons are apt to pay revenue enhancement on income accrued in, derived from or remitted to Malaysia. Beginnings of income which can be taxed includes additions and net incomes from trade, profession and concern, wages, wages, additions and net incomes from an employment, dividends, involvements or price reductions, rents, royalties or premiums, pensions, rentes or other periodic payments and other additions or net incomes of an income nature non mentioned above.
Following are the signifier that required to filling:
Form B – Resident Who Carry on Business
Form BE – Resident Who Does Not Carry on Business
Accounting Servicess
Hifin Strategik Management Consultant besides provides accounting services to the full client:
Personal Accounting Consultant
Personal Accounting is a complete solution with fiscal accounting capablenesss, the bundle particularly meant for Share Traders. Company is utilizing Peachtree package to cipher all the fiscal statement for the personal accounting, for illustration the sum having to managers and besides the entire investing that have been invested by the proprietor.
B ) Company Accounting Consultant
Hifin Strategik Management Consultant assist the company that help make mensurable aims for the strategic history group and find the most effectual organisation and compensation plan for the peculiar company. Furthermore Hifin besides assist clients in specifying and aiming clients strategic histories and their possible gross.
Hifin can clearly place the functions and duties of other sections that interact with strategic history development, and measure possible booby traps.
Then, Hifin will maximise the effectivity of the client present strategic histories gross revenues force. Hifin will supervise and measure client bing schemes and maximise public presentation, and besides will analyse the client organisational construction, its compensation, and the interaction with internal section. Hifin will place the barriers to success, both internal and external. Hifin will measure the direction tools being utilised and the accomplishments of the current strategic history gross revenues forces.
Training
Hifin Strategik Management Consultant offer accounting preparation which is direction in puting up a fiscal trailing system, supervising the data-entry procedure for fiscal minutess, and the interpret of fiscal statement for direction. There have a small spot different between big concern and besides little concern. For the big concern is most frequently a fiscal analyst, reexamining the consequence of operations, construing the consequence, and showing information to direction. Then, little concern need person that can put up a system that will suit their demands and guarantee the information is entered right, and consult on thoughts and schemes that will better the bottom line.
Following, Hifin will work side by side with the trainee forces to guarantee that the recommendations made are specific for the peculiar company ‘s success and if desired. Help in the execution of these recommendations.
Information Technology
Hifin Strategik Management Consultant besides provides information engineering services to the clients. The information engineering services which Hifin provides are utilizing the computing machine package to analyse the current state of affairs of the company. Furthermore, Hifin will utilize the Peachtree to assist the full client to analyse the net income and loss of the company in inside informations and demo the diagram to the full client about the company ‘s position and besides will clearly place. This is because Peachtree can provides tools to make bill, record client payments, write cheque, path disbursals, produce client statement, general fiscal statement and make customizable studies and integrates with Microsoft Excel and word.
Organization Structure
Chief executive officer
Operation
Director
Promotion
TRANING
CUSTOMER SERVICES
Research AND DEVELOPMENT
SQL DATABASE
HUMEN RESOURCE
FINANCIAL
Figure: Organizational Structure of Hifin Strategik Management Consultant.
Management Team
Duties of Chief executive officer
a ) Managerial experiences of managing direct revenue enhancement related affairs.
B ) Experience of managing authorities bureaus related with indirect revenue enhancement related affairs.
degree Celsius ) To propose the new tendencies of managerial maps that can hike company ‘s net income.
vitamin D ) Attend and aid at secretarial meetings.
vitamin E ) Monitor day-to-day helper and arrange replacement staffing.
degree Fahrenheit ) Oversee supervisor and trainee ‘s work load and use, organize overflow supervisor aid.
g ) Deal with clients.
H ) Approve and subscribe the secretarial paperss.
2.6.2 Duties of Operation Manager
a ) Prepare the papers for registry of concern and company.
B ) Prepare payment verifier.
degree Celsiuss ) Maintain work flow, coach staff and support director briefed on staff preparation demands.
vitamin D ) Train and usher subsidiaries and trainees.
vitamin E ) Give feedback to clients.
degree Fahrenheit ) Remind director about the outstanding occupation.
2.6.3 Duties of Promotion
a ) Provides professional services to the full clients.
B ) Always stay alert with the changing of the media direction and maintain on receive all the suggestion from the client to do betterment to the company.
degree Celsius ) Make hereafter planning to maintain the company have high competence with others.
vitamin D ) Directs workers engaged in fixing promotional correspondence to the societal group and maintain in touch with the clients.
vitamin E ) Confers with others director to discourse and explicate new programs for the soliciting concern.
2.6.4 Duties of Training
a ) The director will do certain that the full trainee can manage with the undertaking that had given.
B ) Always evaluate the acquisition of cognition, accomplishments, and competences as a consequence of the practical accomplishments that the trainee can derive after complete the undertaking given by the director.
degree Celsius ) Using the tools, equipment. Document or stuffs that the trainee will utilize when to the full trained, to do certain that the trainee has a good repute as most effectual for career work.
vitamin D ) Training has specific ends of bettering the trainee ‘s capableness, capacity and public presentation.
2.6.5 Duties of Customer Services
a ) Greeting to the client by phone or face to face with the clients in the positive linguistic communication and with the nice voice.
B ) Understand the client ‘s demand or job, hearing, corroborating, understanding, reacting with value, extinguishing slang with the clients with the positive linguistic communication and positive tone of voice.
degree Celsius ) Demonstrate professional client service accomplishment which can better client satisfaction and client trueness. This, in bend, helps the concern retain clients and better net incomes as it costs less to retain clients than to get a new one.
vitamin D ) Using good hearing accomplishments and oppugning techniques can shorten the interaction clip with clients. This can let organisation to function more clients in less clip with merely fewer staff.
vitamin E ) Bing able to clearly explicate following stairss in a procedure and corroborating that the client is satisfied will diminish the figure of recalls or return of goods from client. This is because ; bettering first contact declaration is one of the primary drivers of client.
degree Fahrenheit ) Able to utilize the common procedure and linguistic communication for covering with clients, and this will let concern to trade name the interaction and do first-class services portion of their offering to the client, thereby adding value to company.
g ) Make certain employees feel valued and improves motive from the investing of the company to the employees. In add-on, employees will handle clients good by utilizing proper client service accomplishment, and employee will more likely to be treated good in return. Both these will assist to increase employee trueness and cut down turnover, thereby take downing costs.
2.6.6 Duties of Research and Development
a ) Able to do certain company are able to vie with the rivals, and the method are quickly increasing.
B ) Research and Development ( R & A ; D ) are of import in the field of marketing where R & A ; D director supports and eagle oculus on rivals and clients in order to maintain gait with modern tendencies and analyse the demands, demands and desires of their clients.
degree Celsius ) There, R & A ; D degree are really hard to director, but HIFIN ‘s R & A ; D director will do certain that all the R & A ; D squads can work hard together to do certain that more creativeness that they invest, more net income or a greater market portion can be generate.
2.6.7 Duties of SQL Database ( SQL )
a ) SQL is Structured Query Language which is a database computing machine linguistic communication designed for pull offing informations in relational database direction system ( RDBMS ) , and originally based upon relational algebra.
B ) SQL director range include informations insert, question and delete, schema creative activity and alteration, and informations entree control. Then, the SQL director besides need to do certain that all the information that had been key in are the latest and updated, this can do company go more efficiency and up to day of the month.
2.6.8 Duties of Human Resource
a ) Human Resource ( HR ) is a term that used to depict the persons who comprise the work force of an organisation, although it is besides applied in labour economic sciences to. Hifin ‘s HR director demand to implement the HR schemes and policies to the direction of persons, like topographic points the suited people in a suited work topographic point.
B ) HR may put schemes and develop policies, criterions, systems and procedure that implement these schemes in a whole scope of countries. The schemes are including:
I ) Recruitment, choice, and on embarkation ( resourcing ) .
two ) Organizational design and development.
Business transmutation and alteration direction.
four ) Performance, behavior and behavior direction.
Industrial and employee dealingss.
Workforce analysis and work force forces data direction.
Compensation, wagess and benefits direction.
Training and development.
degree Celsius ) Execution of policies, procedure or criterions which can straight pull off by the HR map itself or the map may in straight oversee the execution of such activities by directors, other concern map or via 3rd party external spouse organisation.
2.6.9 Duties of Financial
a ) The general country of finance is concern finance, personal finance, which includes salvaging money and imparting money to the client.
B ) The undertaking they have to touch are trades with the constructs of clip, money, and hazard and besides how they are interrelated, which deals with how money is spent and budgeted.
degree Celsius ) Capital budget of Hifin will be calculated by the fiscal director to do certain how much of the fixed plus will be financed and besides frequently adjusted yearly and it will be portion of a longer-term Capital Improvements Plan.
vitamin D ) Financial director besides need to supervise at all times to guarantee that there are sufficient financess available to run into short-run disbursals. Normally hard currency budget include the undermentioned subdivisions:
I ) Get downing Cash Balance which includes the last period ‘s shutting hard currency balance.
two ) Cash aggregations which are include all the expected hard currency grosss, such as all the beginnings of hard currency for the counted period.
Cash expenses is list wholly planed hard currency escapes for the period, excepting involvement payments on short-run loans, which appear in the funding subdivision, such as depreciation, amortisation and others.
Cash surplus of lack is a map of the hard currency demands and hard currency available. Cash demand is determined by the entire hard currency expenses plus the minimal hard currency balanced required by company policy. If entire hard currency available less than hard currency demand, a lack will be exists.
Financing are discloses the planned adoptions and refunds, including involvement.
Ending hard currency balance are merely reveals the planned stoping hard currency balance.
