SCHOOL OF OPEN LEARNING

UNIVERSITY OF DELHI

SUMMER INTERNSHIP
PROJECT FINANCE

A NETWORK PROJECT SUBMITTED IN PARTIAL

FULFILLMENT OF THE REQUIREMENT FOR
THE AWARD OF TWO-YEAR MASTER IN
BUSINESS ADMINISTRATION

SUBMITTED TO: SUBMITTED BY:

DR. KUMAR BIJOY ADITYA MISHRA
IN- CHARGE SOL ROLL NUMBER:
MBA INTERNSHIP 22-1-15-100556
 DECLARATION

I, ADITYA MISHRA {22-1-15-100556} student of Master of

Business Administration, School of Open Learning,
University of Delhi, Delhi hereby declare that the SUMMER
INTERNSHIP PROJECT submitted to the SOL during the
academic year 2022-2024 is a record of an original work done
by me under the guidance of DR. KUMAR BIJOY, In charge
of Internship in School of Open Learning University of Delhi.

This project work is Submitted in partial fulfilment of the

requirement for the award of the degree of Masters of
Business Administration, the result embodied in this report
have not been submitted to any other university or institute for
reward of any degree.

STUDENT NAME: ADITYA MISHRA

ROLL NO: 22-1-15-100556
MBA (3RD SEMESTER)
DATE: 13th October 2023
 Acknowledgement

I would like to thank School of Open Learning, University of

Delhi for giving me the opportunity to do this internship. I
would like to thank Tiwari and Associates for letting me do
the internship at their Finance Head office. I’d like to thank
DR. KUMAR BIJOY Sir, my internship supervisor for guiding me
with the completion of this report. I’d also like to thank Mr.
Sanjeev ( Finance Head ) & Finance Division for keeping me
under their supervision and provide me with all the necessary
information which has helped me in the completion of this
report. I would also like to thank all the officials of Tiwari and
Associates Finance Department for allowing me to be an
internee at their organization and help with necessary
information.
 Table of Contents

S NO. CONTENT PGNO.

EXECUTIVE SUMMARY 1
Chapter 1: ORGANIZATION
1.1 Introduction 2
1.2 Objective 2-3
1.3 Scope 3
1.4 Sources Of Information 3-4
1.5 Limitations 4
Chapter 2: ORGANIZATION PROFILE
2.1 Organisation Background 5
2.2 Organisation Mission 5
2.3 Vision 6
2.4 Key Values 6-7
2.5 Product Range 8

Chapter 3: OVERVIEW OF FINANCE

3.1 Finance 9
3.2 Financial Function 9-12
Chapter 4: DATA ANALYSIS
AND FINDINGS
4.1 SWOT analysis 13-17
Chapter 5: CONCLUSIONS
AND
RECOMENDATIONS
5.1 Findings and Learnings 18-19
5.2 Conclusions 19-20
5.3 Reference 21-22
 Executive Summary

Working in a financial firm I gained a unique and

enriching experience, shaping professionals into adept
individuals
capable of navigating the complexities of the global financial
landscape.

Tiwari and Associates is a dynamic and client-focused

financial firm dedicated to providing comprehensive financial
solutions to individuals, businesses, and organizations. With
a legacy of excellence spanning several decades, our firm has
earned a reputation for delivering expert financial
advice, innovative strategies, and personalized service.

At Tiwari and Associates, our mission is to empower our

clients to achieve their financial goals and secure their future.
We strive to deliver unparalleled financial expertise,
foster long-term client relationships, and uphold the
highest standards of integrity and professionalism.

Our team of seasoned financial experts provides personalized

financial planning and advisory services tailored to meet the
unique needs and objectives of our clients. We analyze
financial situations comprehensively and develop strategic
plans to optimize wealth growth and protection.

1
 Chapter: 1
Introduction

1.1 Introduction
The internship report was made after having internship
with Tiwari and Associates particularly in Finance
Departments from 01/06/2023 to 30/08/2023. This chapter
contains the following background of internship;
background of the organization; location; mission; gender
in the organization; organization structure; and other
main activities carried out by the organization

I have selected the topic of this report is “Finance of Tiwari

and Associates”. I tried to integrate my theoretical
knowledge of Finance and combine it with practical
examples as observed during my internship. I have tried to
cover all the
major functions of Finance and convey my understandings of
the different functions of Finance. At the end of the report I
have done a SWOT Analysis on the Finance Practice of
Tiwari and Associates followed by discussing critical points. I
have also tried to provide some recommendations based on
my knowledge followed by the conclusion which I gathered
during my internship.

1.2 Objective of the Report

 Gain early understanding and appreciation of the
practical life real-life situation challenges associated with
application of the theoretical knowledge acquired.
2
 Develop expected professional self-awareness,
internalization of career job requirements and experience.
 Develop and acquire critical skills needed to
proactively observe and analyze problems/challenges
encountered while executing career duties and
responsibilities at work.
 Knowlwdge knowledge about practical aspects of
functioning of an organization on the domestic and foreign
markets with a special emphasis on finance/
accounting management in public administration, private
sector, non-governmental organizations, self-employment
and other.
 Knowledge about performing specific tasks and develop
problem identification and problem solving skills in finance
management /accounting.

1.3 Scope of the Report

This internship aimed at providing with necessary knowledge

and skill in line with his field of accounting and finance, I
intended to provide quick response to the public and as well
market the activities of the organization .This enabled me to
generate practical skills from the respondents in the finance
department.

1.4 Sources of information

All the information incorporated in this report has been
collected from primary sources as well as secondary sources.
3
Primary sources:
Interview with assistant manager of Finance
department and in charge.
Chartered Accountants and some other
employees Discussion sessions with senior
officers as well.

Secondary Sources:
Tiwari and Associates Asset Management Ltd
Annual Report
Financial background for each employees of Tiwari and
Associates
Finance Division.
Financial and Taxes format
Financing and taxing guidelines provided by the Finance
department.

1.5 Limitations
Limitation of employment personal.
Lack of practices in Finance department.
Finance department was hesitant to provide information,
because of difficulty in accessing sensitive data and
information.
Non-availability of some previous statistical data.

The term of the internship period is brief time whereas

Finance Division is a vast area, after doing the regular
office works from 9:30 AM to 5:30 PM it is difficult to
go through in depth within this short duration of time.
The secondary source of information was not enough to
complete the report.
4
Confidentiality

5
 Chapter 2
Organisation Profile

2.1 Overview:
Tiwari & Associates in Karol Bagh, Delhi helps in the
methodical management of taxation and financial matters they
are expert financial professionals who take care of the
budgeting auditing toxing and business strategies for their
clients by taking care of the financial matters of a business,
they help them scale great heights.
Tiwari & Associates in Karol Bagh, Delhi . Established in
2017, they have an in-depth knowledge of financial matters.
With them long care of the financial aspect of business can be
focus on the other areas with ease.

2.2 Mission Statement: "At Tiwari and Associates, our

mission is to empower individuals and businesses to achieve
financial security and prosperity. We are committed to
delivering exceptional financial services, tailored to the
unique needs of our clients. By providing expert guidance,
innovative solutions, and unparalleled customer service, we
aim to build lasting relationships and create a positive impact
on the financial well-being of our clients. We uphold the
highest standards of integrity, professionalism, and
transparency, ensuring that every financial decision made with
us is a step towards a brighter and more secure future."

2.3 Vision: "Our vision at Tiwari and Associates is to be the

most trusted and sought-after financial partner for individuals
and businesses worldwide. We aspire to be recognized for our

6
unwavering commitment to excellence, innovation, and
ethical practices. By continuously adapting to the evolving
financial landscape and embracing cutting-edge technologies,
we aim to set new standards in the industry. We envision a
future where every client achieves their financial goals with
confidence, guided by our expertise and personalized
solutions. Through our dedication to empowering financial
success, we strive to make a meaningful difference in the lives
of our clients and the communities we serve.".

2.4 Key
 Integrity: Upholding honesty, transparency, and ethical

conduct in all dealings is fundamental. Financial firms

must maintain the highest levels of integrity to build
trust with clients and stakeholders.
 Client Focus: Placing clients at the center of all
operations and decisions. Understanding their needs,
providing excellent customer service, and delivering
tailored financial solutions are paramount.
 Professionalism: Fostering a culture of professionalism
ensures that employees exhibit expertise, reliability, and
respect in their interactions with clients and colleagues.
Professional behavior is crucial in building and
maintaining client relationships.
 Innovation: Embracing innovation and staying ahead of
industry trends. Financial firms should be open to
adopting new technologies, methodologies, and financial
instruments to provide innovative solutions to clients.
 Excellence: Striving for excellence in every aspect of the
business, from service delivery to client satisfaction.
Continuous improvement and a commitment to high-
quality standards are key values.

7
 Teamwork: Promoting collaboration, communication,
and mutual support among employees. A cohesive and
collaborative team ensures that the firm operates
efficiently and effectively.
 Accountability: Taking responsibility for actions,
decisions, and outcomes. Holding employees accountable
fosters a culture of ownership, where individuals are
committed to delivering results and learning from
mistakes.
 Compliance: Adhering to all relevant laws, regulations,
and industry standards. Compliance ensures that the firm
operates within legal boundaries, protecting both clients
and the organization from potential risks.
 Confidentiality: Safeguarding client information and
maintaining strict confidentiality. Clients must trust that
their sensitive financial information is secure and
protected from unauthorized access.
 Social Responsibility: Engaging in socially responsible
practices, such as supporting community initiatives,
environmental sustainability, and ethical investments.
Financial firms can make a positive impact on society
while pursuing financial goals.
 Long-Term Focus: Encouraging a long-term perspective
in financial planning and investments. Firms should
prioritize strategies that promote sustainable growth and
stability for their clients' financial futures.
 Education: Empowering clients and the community
through financial education. Providing resources and
knowledge to help individuals make informed financial
decisions contributes to financial literacy and
empowerment.

8
2.5 Product Range:

Our Also registered in CA, GST Registration Consultants etc.

Tiwari & Associates in Karol Bagh is one of the most
trustworthy names in the list. They have collected a 5.0 rating
from their customers to make the transactional experience
hassle-free for customers, they accept multi modes of payment
such as Cash, Master Card, Visa, Debit Cards, Cheques.

9
 Chapter 3
Overview Of Finance

3.1 Finance
Finance is a broad term that encompasses various activities
related to the management, creation, and study of money and
investments. It plays a fundamental role in individuals' lives,
businesses, and economies, providing the foundation for
making critical financial decisions.
The finance industry is a multifaceted sector that encompasses
a wide range of businesses and services related to managing
money. It plays a pivotal role in the global economy by
facilitating the flow of funds between individuals, businesses,
and governments. The industry comprises various institutions,
including banks, investment firms, insurance companies, and
financial markets, each serving distinct functions within the
financial ecosystem.

3.2 Functions of Finance

 Capital Allocation: One of the fundamental functions of
finance is allocating capital efficiently. Financial
institutions and markets help channel funds from savers
(individuals and institutions) to borrowers (businesses
and governments) to support productive activities,
investments, and economic development.

1
0
 Risk Management: Finance assists in identifying,
assessing, and managing various types of risks, such
as market risks, credit risks, operational risks, and
more. Through tools like insurance, derivatives, and
diversification, individuals and organizations can
mitigate potential financial losses.

 Investment Decisions: Finance helps individuals and

businesses make investment decisions. It involves
evaluating different investment options, estimating
potential returns, and assessing risks to allocate
resources effectively. Investment decisions can include
stocks, bonds, real estate, and other assets.

 Financial Planning: Personal finance focuses on

financial planning at an individual or family level. It
includes creating budgets, setting savings goals,
planning for major life events (such as education, buying
a home, and retirement), and managing debts. Financial
planning ensures individuals achieve their financial
objectives.

 Facilitating Transactions: Financial institutions and

payment systems enable smooth and secure
transactions. This includes services like online banking,
credit card transactions, wire transfers, and mobile
payments, making it easier for individuals and
businesses to conduct financial transactions efficiently.

1
 Liquidity Management: Finance helps individuals and
organizations manage their liquidity needs. Effective
liquidity management ensures that entities have enough
cash or assets that can be quickly converted into cash
to meet short-term financial obligations and
emergencies.

 Corporate Finance: In the context of businesses, finance

assists in managing the firm's financial resources. This
includes capital budgeting (deciding which projects to
invest in), capital structure decisions (choosing the right
mix of debt and equity), and working capital
management (managing short-term assets and liabilities).

 Facilitating Economic Growth: Finance is essential for

economic growth. It provides the necessary funding for
businesses to expand, innovate, and create jobs. Access
to financial resources fosters entrepreneurship,
supports infrastructure development, and contributes to
overall economic prosperity.

 Compliance and Regulation: Finance ensures

compliance with legal and regulatory requirements.
Financial institutions and businesses must adhere to
various regulations and standards to maintain integrity,
transparency, and accountability in their operations.

 Wealth Management: Finance professionals, such as

financial advisors and wealth managers, assist
individuals in managing their wealth effectively. They
provide services like investment management, tax
1
planning, estate planning, and retirement planning to
help individuals preserve and grow their wealth.

1
 Chapter 4
Data Analysis and Findings

4.1 Swot Analysis

STRENGTHS:
 Expertise and Experience: Tiwari and Associates have
a team of experienced professionals, including financial
analysts, advisors, and managers, who possess in-depth
knowledge of various financial products, markets, and
investment strategies. This expertise allows the firm to
offer valuable insights and tailored solutions to clients.

 Diverse Service Portfolio: Tiwari and Associates

provides a wide range of services, including
investment management, financial planning, insurance,
estate planning, and tax advisory. Diversification in
services
allows the firm to cater to different client needs and
preferences, enhancing its overall market presence.

 Reputation and Trust: Building a strong reputation

and earning the trust of clients is a significant strength.
A reputable financial firm is more likely to attract and
retain clients, as people tend to trust their financial
matters to firms with a proven track record of
reliability, integrity, and client satisfaction.

 Innovation and Technology: Tiwari and Associates

invest in innovative technologies and digital solutions
that provide efficient services, streamline operations, and
1
 enhance client experience. Embracing fintech solutions,
online platforms, and mobile apps can give a firm a
competitive edge in the market.

 Risk Management Capabilities: Effective

risk management practices, including thorough
risk
assessment, diversification of investments, and hedging
strategies, are essential strengths. Tiwari and Associates
can manage and mitigate risks well is better positioned to
protect its clients' investments and navigate volatile
market conditions.

 Strong Network and Partnerships: Establishing

strategic partnerships with other financial
institutions,
legal firms, and industry experts can enhance a financial
firm's capabilities. Tiwari and Associates have a lot of
it.

 Client-Centric Approach: A client-centric focus,

including personalized services, active communication,
and responsiveness to client needs, is a significant
strength. Financial firms that prioritize their clients and
maintain strong relationships are more likely to retain
existing clients and attract new ones through referrals
and positive word-of-mouth.

WEAKNESS:
 Market Volatility: Tiwari & Associates are susceptible

1
to market fluctuations and economic downturns.
Sudden changes in market conditions can impact the
firm's

1
 investments and financial portfolios, leading to losses
and decreased client confidence.

 Regulatory Compliance Challenges: Tiwari

& Associates operates within a highly regulated
environment. Changes in regulations or difficulties in
keeping up with compliance requirements can pose
significant challenges. Non-compliance can result in
fines, legal issues, and damage to the firm's reputation.

 Cybersecurity Threats: Tiwari & Associates handles

sensitive financial data, making them attractive
targets for cyberattacks. Weaknesses in cybersecurity
infrastructure can lead to data breaches, financial losses,
and loss of client trust.

 Operational Risks: Operational weaknesses, such as

inefficient processes, inadequate internal controls, or
outdated technology systems, can lead to errors, delays,
and inefficiencies. These operational risks can affect the
f Tiwari & Associates’s overall productivity and service
quality.

 Technology Dependence: While technology is

essential, overdependence on specific technologies or
software can become a weakness. Outdated technology
or failure to
adapt to emerging trends may hinder the Tiwari
& Associates efficiency and competitiveness.

1
OPPORTUNITY:
 Digital Transformation: The rise of digital technology
offers Tiwari & Associates the opportunity to enhance
customer experience through online banking, mobile
apps, and digital payment solutions. Embracing
fintech innovations can attract tech-savvy clients and
improve operational efficiency.

 Personalized Financial Services: There is an

increasing demand for personalized financial services
tailored to
individual needs and preferences. Tiwari & Associates
can leverage data analytics and artificial intelligence to
offer customized investment strategies, financial
planning, and advisory services, catering to diverse client
requirements.

 Wealth Management for Aging Population: As

the global population ages, there is a growing need
for specialized wealth management services catering
to retirees and seniors. Tiwari & Associates can offer
retirement planning, estate management, and healthcare
funding solutions tailored to the unique needs of older
clients.

 Cybersecurity Solutions: With the increasing

frequency of cyber threats, Tiwari & Associates can
provide
cybersecurity solutions and services to other businesses
and individuals. Building expertise in cybersecurity and
offering secure platforms can create a new revenue
1
stream.

1
THREATS:
 Regulatory and Compliance Risks: Tiwari & Associates
operate within a highly regulated environment.
Changes in regulations, compliance failures, or legal
disputes can result in fines, legal actions, and
reputational damage. Staying updated with evolving
regulations is crucial to avoid non-compliance risks.

 Market Volatility: Financial markets are susceptible

to fluctuations due to economic, geopolitical, or natural
events. Sudden market downturns can lead to investment
losses, impacting the firm's portfolios and client
investments. And hence Tiwari & Associates can get
affected.

 Operational Disruptions: Operational disruptions, such

as system failures, power outages, or natural disasters,
can interrupt business operations. Lack of preparedness
for such events can result in downtime, financial
losses, and client dissatisfaction.

 Reputational Damage: Negative publicity, customer

complaints, ethical misconduct, or poor service quality
can harm a financial firm's reputation. Reputational
damage can lead to loss of clients, difficulty in
attracting new clients, and a decline in the firm's market
value.

1
 Chapter 5
Conclusion and Recommendations

5.1 Findings and Learnings

 Learned different codes Daybook is maintained on daily

basis respective to the codes assigned to different heading. I
learned basic knowledge about debit and credit item to be
recorded in daybook along with different code assigned to
respective heading. With the knowledge of different codes,
I had to record the respective items under particular
headings.

 Knowledge of voucher Different types of vouchers are

collected in day book section from other different sections.
The vouchers related to purchase, sales etc. are provided by
bill payment section. The voucher of salary related to
employee is provided by salary section. Similarly voucher
related to employee loan, pension, NRB transaction,
government transaction are provided by employee loan,
pension, NRB transaction, government transaction sections
respectively. Thus, I got to know about the practical
knowledge of the vouchers.

 General understanding of Nepali terminology used in

banking As everything has to be written in Nepali
vernacular, initially it was difficult to understand the Nepali
terminology used in the bank. Hence, through practice and
guidance from the supervisor, I had the basic understanding
about the
1
meaning of such Nepali terminologies used for recording
banking transactions.

5.2 Conclusion
Self-assessment as future professional
In the modern education system internship plays a crucial
role as the act of mediator for the student to connect the
theoretical knowledge with practical working environment.
Internship program provides an opportunity to provide
practical knowledge along with academic program. Exact to
the motive of the internship program during the internship
period, I got an opportunity to explore the theoretical
knowledge into the real working environment. As an intern I
was assigned in various departments for different tasks in the
department like day book, balance certificate, central store
department, NRB department etc. The main purpose of the
internship program is to help the students by allowing them to
be practically involved in the activities carried out by the bank
on daily basis. Internship program has provided us an
opportunity to gain practical exposure in the real banking
world and obtain some experience that acts as a stepping stone
before entering into professional world hence, enhancing our
personal skill and capacity and developing managerial skills
and behavior. This program has helped in improving the
people skills, human skills and analytical skills. It has also
helped in developing the ability to work under pressure and
how to work in a team. Although the three months internship
period was not full enough to understand all the banking
system as a whole, but still the period has proved to be very
valuable in understanding the practical implications and
knowledge exposures. The internship program helped to learn
the dynamics of work culture, professionalism and systems in
1
the business world. The intern is able to learn various
new knowledge as well as the practical implications of
various theoretical knowledge after the three month
internship
exposure. As a self assessment, the achievements that I
gained through this internship are:

a) Internship program teaches us the importance of time

and how important it is in the professional world to follow
it.

b) Developing the capability to handle the work pressure was

one of the important skills learned while working in the
bank.
c) Being a partial employee, punctuality was one of
the attitudes developed while working in the bank.

d) Gained practical knowledge of importance of team

work and coordination.

e) Became more socialized while dealing and interacting

with customers and colleagues.

f) Confidence level to communicate and coordinate

with customers has gradually increased while working
in this organization.

2
5.3 References

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2018, from Accounting Coach :
https://www.accountingcoach.com/accountingbasics/explanati
on/5

HARA, T. (2006). A Review of the Double-Entry Accounting

System and Accrual Accounting in Public Sector. Government
Auditing Review, 13, 3- 15.
Ovunda, A.S. (2015). Luca Pacioli's Double-Entry System of
Accounting: A Critique. Retrieved April 23, 2018, from
ResearchGate:https://www.researchgate.net/publication/28235
7050_Luca_Pacioli%27s_DoubleEntry_System_of_Accounti
ng_A_Critique

Rawal, D. T. (2002). Banking Supervision. Kathmandu: RBB.

Schmidt, M. (2018). Double Entry System Bookkeeping and

Accounting. Retrieved May 1, 2018 , from Building the
business case: https://www.business-case-
analysis.com/double-entry-system.html

Bista, P. (2017). An Internship Report on RBB. Kathmandu:

RBB.

2
 Boyd, K. (2017). The Complete Guide To Double-Entry
Bookkeeping. Retrieved May 2, 2018, from
https://quickbooks.intuit.com/r/

AccountingExplanation.com. (n.d.). Double Entry System.

Retrieved April 22, 2018, from
http://www.accountingexplanation.com/double_entry_system.
htm

RBB. (n.d.). Introduction of Rastriya Banijya Bank. Retrieved

May 1, 2018, from https://www.rbb.com.np/intro.php

Kathmandu Infosys. (n.d.). Bank Balance Certificate.

Retrieved May 2, 2018, from
https://www.kiec.edu.np/sampledocuments/australia/bank-
balancecertificate/

Libraries. (n.d.). The Role of Accounting. Retrieved May 2,

2018, from Exploring Business :
http://open.lib.umn.edu/exploringbusiness/chapter/12-1-the-
roleof-accounting/

Rastriya Banijya Bank. (n.d.). Retrieved May 2, 2018 , from

https://www.rbb.com.np/branches.php

Scribd. (n.d.). Double Entry Book Keeping System. Retrieved

May 6, 2018, from Double entry bookkeeping system :