INTRODUCTION
Origin of the Report
Objectives of the Report
The Methodology of Report
Scope of the Report
Limitations of the Report
OVERVIEW OFTHE ORGANIZATION
- About the Organization
- Objectives oftheSheba.xyz
- Mission
- Vision
Sheba.xyz is an online service marketplace in Bangladesh that connects households with verified service providers to make life more convenient and hassle-free. Research proves that companies with board connections to state-owned firms and family business groups had greater accounting performance in the crisis period and stock returns (Acemoglu et al., 2016; Baek et al., 2004; Carney et al., 2020). Sheba.xyz is a start-up organization that aims to achieve the following general goals that uphold the necessity of people from a social business perspective that is considered one of the prioritized aspect of business entrepreneurs these days (Fisk et al., 2019 ; Kabadayi et al., 2019; Mejia, 2019).
The mission of sheba.xyz is to provide services at a very convenient price and to improve the quality of services. The organization wants to be the most admired and respected well-known company in the country. Sheba.xyz has been successful in realizing this vision by creating an enduring brand name in every sector.
It also describes striving for the future, without specifying the means required to achieve those desired ends.
ORGANIZATIONALSTRUCTURE
- Human Resources Department
- Marketing Department
- Finance Department
- Finance & Accounts
- Credit department
- Internal Audit department
- Corporate Affairs
- MIS Department
- Distribution Department
Sheba.xyz creates a complementary and healthy work environment, values its human assets and is committed to their growth and prosperity. Sheba.xyz strives to ensure that the company is capable of continued growth and profitability by meeting customer needs and providing employees with a high level of job satisfaction. Because the company believes that well-trained and proactive employees with a high level of job satisfaction will ultimately contribute to the increase in the company's profitability (Dastmalchian et al., 2020; Iqbal et al., 2019; Zhang, 2010).
However, the HR department of Sheba.xyz is the combination of four other departments, i.e.-HR Management, Administration, Training and Legal department (Figure 1). Sheba.xyz is the only company in the country with such a wide retail network. As a retail company that markets consumer durables, the Sheba.xyz Group's efforts are focused on the store merchandising concept.
This department is responsible for ensuring optimal and most efficient uses of the company's resources through various control and monitoring activities. However, the last four units are reportable to the Chief Accounts Manager, who is himself reportable to the Controller. Seller has a security interest in the goods until all amounts due have been paid by the customer.
It will send a message to the bad customers that no one can escape without paying. In the commercial and logistics department, they are responsible for checking all import transactions and opening the L/C operation. This is generally done according to the guidelines of the National Board of Revenue (NBR) of Bangladesh.
In the internal audit department, they are responsible for control to reduce the deviation of revenue and cost operation. In the corporate affairs department, they are responsible for managing all company-related secretarial matters. Sheba.xyz is the only company in the country with such an extensive retail network of its own.
POLICY & GUIDELINE FOR FINANCE AND ACCOUNTS
- Cash receipts
- Cash disbursement
- Account payable
- Recurring expenses
- Payroll
- Imprest cash
- Advances
- Prepayments & security deposits
- Investment
- General ledger
- Accounting Activities
- Cash activities
- Operating activities
- Cash flow
- Budgets and forecasting
- Sales
- Profit and Loss Statement
- Statement of changes inequity
- Fixed Assets Register
- Balance Sheet
The set of instructions acts as the basis for the department's system of internal accounting controls. Examples of key documentation to achieve departmental objectives are discussed below. Control signatories will be senior management and senior staff are authorized.
The salary of the staff must be paid based on the employment contract with the company. An advance to an employee for humanitarian reasons, regardless of the nature of the advance, must be available to the beneficiary after appropriate approval from the company's top management. The company's finance and accounting department will be responsible for returning them at the end of the stipulated period.
As evidenced by the objective, the activities of a (G/L) system are diverse, ranging from the preparation of journal entries to the production of final financial statements. At the end of the month, the journal entries of the accumulated figure should be posted to the accounts (G/L). Cash flows are classified as operating, investing or financing activities in the statement of cash flows, depending on the nature of the transaction.
In this function, the finance department works with managers to prepare the company's budgets and forecasts and also provide feedback regarding the company's financial conditions. The statement of changes in equity is a reconciliation of the beginning and ending balances of a company's equity during a reporting period. It is not considered a significant part of the monthly accounts and is the most likely of all accounts not to be issued.
It is also possible to provide a much expanded version of the statement disclosing the various elements of equity. The balance sheet is one of three (income statement and cash flow statement being the other two) primary financial statements used to evaluate a business. The balance sheet is a snapshot, representing the state of a company's finances (what it owns and what it owes) as of the publication date.
These accounts vary greatly by industry, and the same terms can have different implications depending on the nature of the business. By itself, it cannot give a sense of the trends that play out over a longer period of time.
CONCLUSION& RECOMMENDATIONS
Conclusion
The analysis of a company's financial statements consists of a mixture of steps and parts that are interrelated and affect each other. Specific conclusions will be influenced by the initial objectives set at the beginning of the analytical process.
Recommendations
Short-term liquidity affects profitability; profitability starts with sales, which relate to the liquidity of assets. The efficiency of asset management influences the cost and availability of credit, which determines capital structure. Sheba.xyz Group should try to fulfill a social responsibility such as establishing a hospital, providing medical facilities to rural areas for a period of time, etc.
The delivery schedule must be adjusted, i.e. the number of weekly deliveries must be increased in line with the demand and expectations of the dealers. More studies could be done to dig deeper into the causes of poor performance and other shortcomings. The customer database should be maintained using software that is more advanced so that the existing roadmap/plan can be easily changed at any time.
Modern and versatile software should be used to manage the process of keeping records and accounts, so that re-control is possible at any time. Apart from distribution, the Sheba.xyz group should also focus on improving other areas of operations. Brand equity in terms of market share should now be the focus because distribution can't do anything if customers don't ultimately demand the product.
Training and motivation for the work performance of teachers of technical and vocational education: the role of adaptation of the person to the workplace. Perceived organizational support for the use of employee strengths and employee well-being: A cross-country comparison.
