About this course
Finance Internship Program: 6-Week Structured Learning and Experience
This finance internship program provides a comprehensive understanding of key financial concepts and hands-on experience over six weeks. Interns will gain insights into financial accounting, financial analysis, budgeting, taxation, auditing, and investment techniques.
Program Highlights
1. Financial Accounting and Statements
· Learn fundamental accounting principles.
· Analyze balance sheets and income statements.
· Understand financial calculations using Excel functions like SUM, AVERAGE, IF, and LOOKUP.
2. Financial Analysis and Tally ERP
· Learn financial modeling and pivot tables.
· Set up a company profile and input transactions in Tally.
· Perform bank reconciliations and generate financial reports.
3. Budgeting and Taxation
· Create budget plans and analyze budget vs. actual variances.
· Record GST transactions and generate reports in Tally.
· Conduct cost-benefit analysis for investment decisions.
4. Payroll, Cash Flow, and Capital Management
· Configure payroll and generate salary slips.
· Develop cash flow statements and evaluate working capital needs.
· Apply capital budgeting techniques for investment decisions.
5. Auditing and Investment Analysis
· Perform internal audit checklist reviews.
· Apply investment appraisal techniques like NPV, IRR, and payback period.
· Create a tax compliance checklist for companies.
6. Final Project: Financial Performance Analysis
· Conduct a comprehensive financial performance analysis of a company.
Expected Outcomes
By the end of the program, interns will:
· Gain practical experience in financial management tools and techniques.
· Improve their analytical and decision-making skills in finance.
· Develop a strong understanding of financial statements, budgeting, and investment decisions.
· Be able to assess and optimize financial performance for business growth.
Reference Links
· Financial Accounting Principles - https://www.investopedia.com/terms/f/financialaccounting.asp
· Financial Ratio Analysis - https://www.investopedia.com/terms/r/ratioanalysis.asp
· Investment Appraisal Techniques - https://www.investopedia.com/terms/n/npv.asp
Requirements
Laptop
Internet Connection
Microsoft Excel
Tally ERP 9
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To gain a solid understanding of fundamental accounting principles, the accounting cycle, and key financial statements, providing a foundation for further finance-related tasks.
To analyze a sample balance sheet and income statement, identify key financial ratios, and assess the financial health of a business.
To develop proficiency in using basic Excel functions such as SUM, AVERAGE, IF, and LOOKUP to perform essential financial calculations, including revenue, expenses, and profitability.
To develop proficiency in using pivot tables and financial modeling techniques in Excel to analyze financial data and create an interactive dashboard with key insights and visualizations.
To familiarize students with the basics of Tally ERP 9 by setting up a company profile and entering basic financial transactions, providing a hands-on understanding of accounting software functionalities.
To understand and perform bank reconciliation in Tally ERP 9 by matching the company's recorded transactions with the bank statement, identifying discrepancies, and generating a reconciled report.
To develop a comprehensive budget plan for a hypothetical company using Excel, incorporating projected income and expenses for the next fiscal year, and utilizing formulas and charts to analyze financial data.
To understand and record GST transactions in Tally ERP 9, generate GST reports, and analyze the breakdown of input and output tax for compliance and reporting purposes.
To analyze a company’s financial health by calculating and interpreting key financial ratios, focusing on liquidity, profitability, and solvency ratios using financial statements.
To learn how to configure payroll in Tally ERP 9, process employee salaries, and generate salary slips that include basic pay, allowances, deductions, and net pay.
To conduct a cost-benefit analysis for a business investment decision using Excel, summarizing costs, expected benefits, and calculating the return on investment (ROI) to aid decision-making.
To develop a monthly cash flow statement in Excel, tracking inflows and outflows to assess liquidity and cash management efficiency.
To evaluate the working capital needs of a business by analyzing current assets and liabilities and proposing strategies to optimize working capital efficiency.
To compare budgeted financial data with actual results, identify variances, and highlight areas that need corrective action using Excel.
To perform an internal audit checklist review to assess compliance with financial regulations, internal controls, and business policies, and provide recommendations for improvement.
To evaluate investment decisions using key financial appraisal techniques, including Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period. This will help in determining the viability of business projects based on cash flow projections.
To analyze a capital expenditure decision using Excel by evaluating financial data, applying capital budgeting techniques, and recommending whether to proceed with the investment.
To create a comprehensive tax compliance checklist for a company, ensuring all tax obligations are met on time, and filing requirements are adhered to in order to avoid penalties and maintain regulatory compliance.
To generate a Profit and Loss Account and Balance Sheet in Tally ERP 9, providing a snapshot of the company’s financial performance and position with detailed explanations of key financial metrics.
To conduct a comprehensive financial performance analysis of a company by combining data from Tally ERP 9 reports and Excel analytics to assess profitability, liquidity, and financial stability, providing actionable recommendations.
