WOLAITA SODO UNIVERSITY

COLLEGE OF BUSINESS AND ECONOMICS

DEPARTMENT OF ACCOUNTING AND FINANCE

INTERNSHIP REPORT
ON

WOLAITA SODO TOWN FINANCE AND ECONOMIC

DEVELOPMENT OFFICE

INTERNSHIP REPORT SUBMITTED TO DEPARTMENT OF ACCOUNTING

AND FINANCE IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR

BA DEGREE IN ACCOUNTING AND FINANCE

REPORTED BY: EDEN TILAHUN

ID.NO:- ACC/WE/136/12

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 MAY, 2024

WOLATIA SODO, ETHIOPIA

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ACKNOWLEDGEMENT
First of all I would like to express my internal and endless thanks to Almighty God who
helped in every aspects of my life and made me one of the participants in this practical
attachment.

Next, I would like to thank the Wolaita Sodo University, Economics Department for
providing me with an opportunity to come up with an internship opportunity that has resulted
in widening my knowledge greatly.

Similarly, I offer my sincerest gratitude to Mr____________________ Head of Wolaita Sodo

Town Fianance and Economic Development Office, whose encouragement; supervision and
support from the starting to the end date during the entire my internship period enabled me to
develop a deeper understanding of the subject and nature of the banking industry

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EXECUTIVE SUMMARY
This internship report provides an in-depth analysis of the Wolaita Sodo Town Finance and
Economic Development Office, focusing on its organizational structure, functions,
challenges, and opportunities for improvement. The report aims to evaluate the office's
operations and provide recommendations to enhance its effectiveness in promoting economic
development and financial stability in the woreda.

The report begins with an overview of the office's background, highlighting its role in
facilitating economic growth, managing financial resources, and supporting local businesses.
It then delves into a detailed analysis of the office's strengths, weaknesses, opportunities, and
threats (SWOT), identifying key internal and external factors that impact its performance.

Based on the SWOT analysis, specific recommendations are proposed to address the
identified challenges and capitalize on opportunities for improvement. These
recommendations include strengthening internal capacity building, diversifying funding
sources, enhancing technological infrastructure, fostering community engagement, and
monitoring and evaluating performance.

In conclusion, by implementing these recommendations in a strategic and focused manner,

the Wolaita Sodo Town Finance and Economic Development Office can enhance its
operational efficiency, financial sustainability, and community impact. It is crucial for the
office to prioritize these actionable recommendations to drive positive change and contribute
effectively to the socio-economic development of the woreda.

Overall, this internship report provides valuable insights into the office's operations and
offers practical solutions to navigate current challenges and achieve long-term success in
fulfilling its mandate. By aligning strategies with the identified SWOT factors, the office can
position itself for sustainable growth and make a significant impact on economic
development in the region.

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 TABLE OF CONTENTS
ACKNOWLEDGEMENT.........................................................................................................I

EXECUTIVE SUMMARY......................................................................................................II

LIST OF FIGURE....................................................................................................................V

CHAPTER ONE...................................................................................................................... 1

INTRODUCTION OF THE REPORT.....................................................................................1

1.1. Background of the Organization....................................................................................1

1.2. Purpose of the Report.................................................................................................... 1

1.3. Data Collection..............................................................................................................1

1.4. Scope of the Internship..................................................................................................1

CHAPTER TWO..................................................................................................................... 2

2. OVERVIEW OF THE ORGANIZATION...........................................................................2

2.1. Brief Overview the organization....................................................................................2

2.2. Major Activities of the organization..............................................................................2

2.3. Mission.......................................................................................................................... 2

2.4. Vision............................................................................................................................ 2

2.5. Values............................................................................................................................ 3

2.6. Hierarchy of the organization........................................................................................ 3

2.7. Organogram of the organization....................................................................................4

2.8. Organogram...................................................................................................................4

CHAPTER THREE..................................................................................................................5

3. WHAT I HAVE LEARNED................................................................................................5

3.1. Duration of the Internship..............................................................................................5

3.2. Departments Assigned...................................................................................................5

3.3. List of Activities Performed...........................................................................................5

3.4. Performance Evaluation.................................................................................................5

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 3.5. Overall Experience........................................................................................................ 6

CHAPTER FOUR....................................................................................................................7

4. ANALYSES.........................................................................................................................7

4.1. Financial Analyses.........................................................................................................7

4.1.1. Ratio Analysis.........................................................................................................7

4.1.2. Index Analysis.........................................................................................................7

4.1.3. Common Size Analysis...........................................................................................7

4.1.4. Trend Analysis:.......................................................................................................7

4.2. SWOT Analysis.............................................................................................................7

4.2.1. Key External Opportunities of Wolaita Sodo Town FEDo.....................................8

4.2.2. Key External Threats of Wolaita Sodo Town FEDo...............................................8

4.2.3. Key Internal Strengths of Wolaita Sodo Town FEDo.............................................8

4.2.4. Key Internal Weaknesses of Wolaita Sodo Town FEDo.........................................8

CHAPTER FIVE......................................................................................................................9

5. RECOMMENDATIONS AND CONCLUSIONS...............................................................9

REFERENCES.......................................................................................................................11

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 LIST OF FIGURE

Figure 1 organogram of Wolaita Sodo Town Finance and Economic Development Office.....4

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 CHAPTER ONE
INTRODUCTION OF THE REPORT

1.1. Background of the Organization

Wolaita Sodo Town Finance and Economic Development Office play a crucial role in the
economic development and financial management of the Wolaita Sodo Town in Ethiopia.
The office is responsible for overseeing financial matters, economic planning, and
development initiatives within the woreda. This internship report aims to provide an
overview of the operations and functions of the Finance and Economic Development Office.

1.2. Purpose of the Report

The purpose of this internship report is to gain practical insights into the financial and
economic management practices of a local government office. The report will focus on
analyzing the organization from a financial perspective, including conducting SWOT
analysis, PESTEL analysis, ratio analysis, and trend analysis where applicable. The goal is to
understand how the office operates, identify strengths and weaknesses, and explore
opportunities for improvement.

1.3. Data Collection

The data for this report will be collected through a combination of primary and secondary
sources. Primary data will be gathered through direct observation, interviews with staff
members, and participation in day-to-day activities at the Finance and Economic
Development Office. Secondary data will be obtained from official documents, reports, and
relevant literature on local government finance and economic development.

1.4. Scope of the Internship

Due to the limited duration of the internship period (10 days), the focus of this report will be
on specific departments or areas within the Finance and Economic Development Office of
Wolaita Sodo Town. The intern will primarily concentrate on activities related to financial
management, budgeting, revenue generation, economic planning, and development projects.
The report will provide a detailed analysis of these specific aspects to offer insights into the
overall functioning of the office.

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 CHAPTER TWO
2. OVERVIEW OF THE ORGANIZATION
2.1. Brief Overview the organization
The Wolaita Sodo Town Finance and Economic Development Office is a key government
institution responsible for managing financial resources, economic planning, and
development initiatives within the Wolaita Sodo Town in Wolaita Zone. The office plays a
crucial role in overseeing budgeting, revenue generation, expenditure management, and
promoting economic growth in the region. It serves as a central hub for financial and
economic decision-making, working towards the overall development and well-being of the
woreda's residents.

2.2. Major Activities of the organization

1. Financial Management: The office is responsible for budget preparation, financial
reporting, revenue collection, and expenditure control. It ensures that financial resources are
allocated efficiently and transparently to support various development projects and programs.

2. Economic Planning: The office engages in economic analysis, planning, and forecasting to
identify key areas for development and investment. It works closely with stakeholders to
formulate strategies for sustainable economic growth and poverty reduction in the woreda.

3. Development Projects: The office coordinates and monitors the implementation of

development projects in various sectors such as infrastructure, agriculture, education, health,
and social services. It plays a pivotal role in ensuring that projects are executed effectively
and contribute to the overall development goals of the woreda.

2.3. Mission
To foster economic development and improve the livelihoods of the people of Wolaita Sodo
Town through effective financial management and the provision of efficient and transparent
services.

2.4. Vision
To be a leading finance and economic development office in the region, recognized for its
excellence in revenue generation, prudent financial management, and commitment to
sustainable development.

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2.5. Values
 Integrity: Adhering to the highest ethical standards and maintaining transparency in
all our operations.
 Accountability: Holding ourselves accountable for our actions and decisions, both
individually and collectively.
 Customer Focus: Prioritizing the needs of our taxpayers and other stakeholders, and
providing excellent customer service.
 Innovation: Embracing new ideas and technologies to improve our efficiency and
effectiveness.
 Teamwork: Collaborating effectively within our team and with external partners to
achieve shared goals.
 Professionalism: Conducting ourselves in a respectful and courteous manner, and
upholding the highest standards of professionalism in all aspects of our work.
 Equity: Ensuring fair and equitable treatment for all, regardless of their background
or affiliation.
 Sustainability: Promoting sustainable economic development practices that benefit
both present and future generations.
 Excellence: Continuously striving to improve our performance and achieve
exceptional results in all that we do.

2.6. Hierarchy of the organization

The Wolaita Sodo Town Finance and Economic Development Office follows a hierarchical
structure to facilitate efficient decision-making and coordination of activities. The hierarchy
typically includes the following positions:

1. Head of Office: Responsible for overall management and strategic direction of the office.

2. Finance Manager: Oversees financial operations, budgeting, and financial reporting.

3. Economic Development Officer: Focuses on economic planning, analysis, and

development projects.

4. Project Coordinators: Manage specific development projects in collaboration with relevant

stakeholders.

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5. Support Staff: Provide administrative and logistical support to ensure smooth functioning
of the office.

2.7. Organogram of the organization

The organogram of the Wolaita Sodo Town Finance and Economic Development Office
showcases the hierarchical structure and reporting relationships within the organization. It
visually represents the positions, roles, and responsibilities of each staff member, illustrating
how information flows and decision-making processes are structured within the office.

Overall, the Wolaita Sodo Town Finance and Economic Development Office plays a critical
role in driving financial management, economic planning, and development initiatives in the
region. Its activities are geared towards promoting sustainable growth, improving livelihoods,
and enhancing the overall well-being of the woreda's population.

2.8. Organogram
The Organogram of Wolaita Sodo Town Finance and Economic Development Office is as
follows:
Head of the Office

Deputy Manager

Planning
Department
Procurement HRM Department
Department Support Staff
Officers

Officers Officers

Figure 1 Organogram of Wolaita Sodo Town Finance and Economic Development Office

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 CHAPTER THREE
3. WHAT I HAVE LEARNED
3.1. Duration of the Internship
The duration of my internship was ten days starting from 13/04/2024 G.C to 22/04/2024 G.C,
during my internship at the Wolaita Sodo Town Finance and Economic Development Office;
I had the opportunity to gain valuable insights and practical experience in various aspects of
financial management, economic planning, and development projects. during which I was
assigned to different departments within the office to broaden my understanding of their
functions and responsibilities.

3.2. Departments Assigned

1. Financial Management Department: In this department, I was exposed to budget
preparation, financial reporting, revenue collection, and expenditure control. I assisted in
analyzing financial data, preparing budget reports, and reconciling accounts. I also learned
about the importance of transparency and accountability in financial management practices.

2. Economic Planning Department: In this department, I worked closely with the Economic
Development Officer to conduct economic analysis, research, and planning activities. I
assisted in data collection, trend analysis, and report writing related to economic indicators
and development projects. I gained a deeper understanding of the role of economic planning
in promoting sustainable growth and poverty reduction.

3.3. List of Activities Performed

1. Assisted in preparing budget reports and financial statements.

2. Conducted data analysis for economic planning projects.

3. Participated in meetings with stakeholders to discuss development initiatives.

4. Contributed to the preparation of project proposals and reports.

5. Conducted field visits to project sites to assess progress and impact.

3.4. Performance Evaluation

Throughout my internship, I strived to actively engage in all assigned tasks, demonstrate a
strong work ethic, and seek opportunities to learn from experienced professionals within the
office. I consistently met deadlines, paid attention to detail, and sought feedback to improve

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my performance. By actively participating in various activities and projects, I was able to
apply theoretical knowledge gained from my academic studies to real-world scenarios.

3.5. Overall Experience

My internship at the Wolaita Sodo Town Finance and Economic Development Office was a
rewarding experience that provided me with a comprehensive understanding of the intricacies
of financial management, economic planning, and development projects at the local
government level. I developed practical skills in data analysis, report writing, project
coordination, and stakeholder engagement. The exposure to diverse tasks and responsibilities
broadened my perspective on the challenges and opportunities in driving economic growth
and development in a community setting.

In conclusion, my internship experience has been invaluable in shaping my career aspirations

and enhancing my professional skills. I am grateful for the guidance and mentorship provided
by the staff members at the office, and I look forward to applying the knowledge and
experiences gained during this internship in my future endeavours.

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 CHAPTER FOUR
4. ANALYSES
4.1. Financial Analyses
4.1.1. Ratio Analysis
During my internship at the Wolaita Sodo Town Finance and Economic Development Office,
I conducted ratio analysis to assess the financial performance and efficiency of the office.
Key ratios such as liquidity ratios (current ratio, quick ratio), profitability ratios (return on
assets, return on equity), and efficiency ratios (asset turnover ratio) were calculated and
analyzed. These ratios provided insights into the office's financial health and its ability to
meet its financial obligations.

4.1.2. Index Analysis

Index analysis was conducted to compare the office's financial performance with industry
benchmarks and historical data. By analyzing key financial indicators such as revenue
growth, expenditure trends, and budget variances, I was able to identify areas of improvement
and potential risks.

4.1.3. Common Size Analysis

Common size analysis was performed to analyze the composition of the office's financial
statements in percentage terms. This analysis helped in understanding the relative importance
of different financial components such as revenues, expenses, and assets. By comparing
common size statements over multiple periods, trends and patterns were identified to support
decision-making.

4.1.4. Trend Analysis:

Trend analysis was carried out to track the office's financial performance over time. By
analyzing financial data from previous years and identifying patterns and fluctuations, I
gained insights into the office's financial stability, growth trajectory, and areas requiring
attention. Trend analysis helped in forecasting future financial outcomes and planning for
sustainable development.

4.2. SWOT Analysis

SWOT analysis is a strategic planning tool used to assess an organization's internal strengths
and weaknesses, as well as external opportunities and threats. Based on my observations and
interactions during my internship at the Wolaita Sodo Town Finance and Economic
Development Office, the following SWOT analysis was conducted:

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4.2.1. Key External Opportunities of Wolaita Sodo Town FEDo
1. Availability of government funding for development projects.

2. Collaborative partnerships with external stakeholders for project implementation.

3. Access to technical expertise and resources for capacity building initiatives.

4.2.2. Key External Threats of Wolaita Sodo Town FEDo

1. Fluctuations in government funding allocations.

2. External economic factors impacting project sustainability.

3. Competition for limited resources and funding from other government offices.

4.2.3. Key Internal Strengths of Wolaita Sodo Town FEDo

1. Dedicated and experienced staff members committed to achieving development goals.

2. Efficient financial management practices ensuring transparency and accountability.

3. Strong relationships with local communities and stakeholders for project engagement.

4.2.4. Key Internal Weaknesses of Wolaita Sodo Town FEDo

1. Limited technological infrastructure hindering data management and reporting.

2. Inadequate training programs for staff development and skill enhancement.

3. Dependency on external funding sources for project sustainability.

The SWOT analysis highlighted the office's strategic position in leveraging internal strengths
to capitalize on external opportunities while addressing internal weaknesses and mitigating
external threats. By identifying these factors, the office can develop informed strategies to
enhance its operations, achieve sustainable growth, and contribute effectively to economic
development in the region.

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 CHAPTER FIVE
5. RECOMMENDATIONS AND CONCLUSIONS
Based on the SWOT analysis conducted at the Wolaita Sodo Town Finance and Economic
Development Office, the following specific and practical recommendations are proposed to
enhance the office's operations and contribute to sustainable economic development in the
Woreda:

1. Strengthen Internal Capacity Building

 Develop a comprehensive training program for staff members to enhance their skills
and knowledge in financial management, project implementation, and data analysis.
 Implement regular workshops and seminars to update staff on industry best practices,
technological advancements, and regulatory requirements.

2. Diversify Funding Sources

 Explore alternative funding sources such as grants, partnerships with NGOs, and
private sector collaborations to reduce dependency on government funding.
 Develop a fundraising strategy to secure additional resources for priority projects and
initiatives.

3. Enhance Technological Infrastructure

 Invest in upgrading the office's technological infrastructure to improve data

management, reporting capabilities, and communication with stakeholders.
 Implement digital tools and software solutions to streamline financial processes,
enhance transparency, and facilitate decision-making.

4. Foster Community Engagement

 Strengthen relationships with local communities through regular consultations,

feedback mechanisms, and participatory decision-making processes.
 Involve community members in project planning, implementation, and monitoring to
ensure alignment with their needs and priorities.

5. Monitor and Evaluate Performance

 Establish key performance indicators (KPIs) to measure the office's progress towards
its strategic goals and objectives.

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  Conduct regular performance reviews, impact assessments, and financial audits to
track outcomes, identify areas for improvement, and ensure accountability.

In conclusion, the Wolaita Sodo Town Finance and Economic Development Office has the
potential to achieve sustainable growth and make a significant impact on economic
development in the region by leveraging its internal strengths and addressing key challenges.
By implementing the above recommendations in a focused and strategic manner, the office
can enhance its operational efficiency, financial sustainability, and community impact. It is
essential for the office to prioritize these actionable recommendations to drive positive
change and contribute effectively to the socio-economic development of the woreda.

This internship report has provided valuable insights into the office's operations, challenges,
and opportunities for improvement. By aligning strategies with the identified SWOT factors
and focusing on practical solutions, the office can navigate current challenges and achieve
long-term success in fulfilling its mandate of promoting economic development and financial
stability in Wolaita Sodo Town.

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REFERENCES
● Through interview with employees of the organization.
● Information from written documents of the organization (2015).
● Direct information from the supervisor of the organization.
● Some from daily activities.

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