Internship Report

July-August 2015

At

LLP “Қазақстан Zaman”

Student: Assel Nakypbekova

Course: 4

Department :Accounting and audit

Supervisor from SDU : Tleubayev Alisher

Practical supervisor :Isayeva Aiman (Chief accountant of “Қазақстан Zaman”)

Contents

1.Introduction2. Description of the internship2.1 The description of the organization“Қазақстан Zaman2.2 Internship activities 3. Reflection on the internship 4. Conclusion

Introduction

This report is a short description of my two month internship. The internship was carried out within the organization “Қазақстан Zaman” in 2015. This internship report contains my activities that I have contributed to achieve a number of my stated goals. In the following chapter a description of the organization “Қазақстан Zaman” and the activities is given. After this a reflection on my functioning and the learning goals achieved during the internship are described. Finally I give a conclusion on the internship experience according to my learning goals. Purpose of Internship

To provide an opportunity for practical application of classroom theory in professional field work, and to provide practical experience for university students who are contemplating the accounting area as their career field.

Objectives :

1. To provide the student with insight into the practical aspects of an organization’s operation through observing and participating in day-to-day activities.

2. To acquaint the student with individuals employed in his/her prospective profession or occupation.

3. To learn and participate in functions performed in a chosen field and to assist in determining if the profession or occupation selected is compatible with the student’s personal goals.

4. To provide the organization with potential employees and an opportunity for the organization to determine if the student would be compatible with their firm.

5. To make academic work more meaningful for the student through observing the practical application of principles and the exchanging of information with practitioners.

6. To assist in developing an understanding and appreciation of human relations in an organization.

7. To increase the interchange of ideas between students and managers in successful business firms.

2 Description of the internship

2.1 The description of the organization “Қазақстан Zaman”

“Қазақстан Zaman” is a organization founded in 1992. International newspaper “Қазақстан Zaman” collects and writes qualitative information at the national level on socio-economic and socio-community directions and informs the people of Kazakhstan. “Қазақстан Zaman” newspaper is distributed to all regions of Kazakhstan. 90 percent of their readers are the companies Kazakhstan. They have two main products:

1. Newspaper c2. Children’s magazine “Мөлдір-Бұлақ”

Services provided by “Қазақстан Zaman”

Readers of“Қазақстан Zaman” are offered the following headings:

• The theme of the day (the information most interesting to readers today).

• News (roundup of a few days, including the current one).

• Center (articles about the city and its problems).

• Regions (articles on the regions and their problems).

• Around the corner (news of the latest discoveries: exhibitions, restaurants, businesses).

• Coupon (discussing various issues and opinions pros).

• Help (useful information).

• environment and markets (news and business trends).

• Transportation (heading for city transport).

• Real estate and construction (surveys for business).

• Last Band (Entertainment materials).

Also publishing offers additional paid services of character:

• Advertising

• Courier service

• Tab to the newspaper

Structure of company

The process of preparing newspaper “Қазақстан Zaman”

Competitors of newspaper “Қазақстан Zaman” for today are some big publications such as «Жас қазақ», «Егемен Қазақстан», «Айқын». These publications are much cheaper than the “Қазақстан Zaman”, but inferior in quality printing, in the frequency of issuance and number of pages.However, the main advantage of “Қазақстан Zaman” is reliability and trust of readers that the newspaper gained over the years of its existence.

The organization "Kazakhstan Zaman» located at: Almaty, Str. Nauryzbai Batyr 31. And they have own site: //www.kazakhstanzaman.kz/.

History of Company

LLP "Kazakhstan Zaman” legally registered as a legal entity under the name “КазМедиа” in 29 December 2000. The founders of the partnership are a citizen of the Republic of Kazakhstan Orazaliyev Nurlan Myrkasymovich and Turkish citizen Ersin Demirzhi.

1 Orazaliyev Nurlan Myrkasymovich owned 80%, which is $ 1200 (178 800 tenge)

2 Ersin Demirzhi owned 20%, which is $ 300 (44700tenge)

The main objective of the partnership is the production and net income.

In october 6, 2004 one of the founders, Ersin Demirzhi transferred his 20% to Ahmet Alyaz. In the same year on November 24 Alyaz Ahmet was appointed as a CEO of company. In 2014 Alyaz Ahmet gave his place Serkan Hastyrk.

2.2Internship activities

At the beginning of the internship I formulated several learning goals, which I wanted to achieve:

to understand the functioning and working conditions of organization; to see what is like to work in a professional environment; fix the theoretical knowledge acquired in SDU to see if this kind of work is a possibility for my future career; to use my gained skills and knowledge; to see what skills and knowledge I still need to work in a professional

environment; to learn about the organizing of a research project (planning, preparation,

permissions etc.) to get fieldwork experience/collect data in an environment unknown for me;

to get experience in working in another conditions/with persons from another culture;

to enhance my communication skills; to build a network.

Bookkeeping and preparing of financial statements of “Қазақстан Zaman” are based on:

· Law "On Accounting and Financial Statements";

· Accounting standards;

· Guidelines to standards;

· Accounting policies, directives, instructions, orders on the organization accounting of the entity.

In the first day of my internship, I got acquainted with corporate documents of “Қазақстан Zaman” and job description of an accountant. Other days I organized large amount of files to make sure they were in order and compliance with 1C program in preparation for the audit. And also I handled accounts payable and worked with payroll. Mostly I worked with 1C program. I learned how to make following activities with 1C program:

1. account of calculations with suppliers and customers;2. account of calculations with suppliers and contractors;3. Settlement of advances paid and advances received;4. Payments on credits and loans of banks;5. Conduct of operations on cash accounts;6. Accounting for Investments;7. Equity accounting;8. Records of income and expenses.

Accounting of primary documents in “Қазақстан Zaman”

CEO of the organization “Қазақстан Zaman” performing cash operations, allows the movement of cash.Forms of primary documents used for the registration of economic operations developed and approved by an accountant on the basis of their own minimum requirements approved by the competent authority.

Source documents include the following mandatory details:

· Name of the document (form);

· Date of preparation;

· Name of the entity on whose behalf the document is prepared;

· Maintenance of economic operation;

· Gauges economic operation (in cash and kind);

· The name of the persons responsible for the commission of economic operation and correctness of its registration;

· Personal signatures and decryption.

Primary documents are drawn up at the time of the transaction, and if this is not possible, immediately after the end of operation.

The information contained in the primary documents to the accounting information necessary to reflect in the accounting records, collected and systematized in the accounting registers. These ledgers grouped transferred to the financial statements.

I have learned about the facts of accounting and what a career would be like in accounting. These two things cannot be taught in a classroom; it requires real world experience.

At “Қазақстан Zaman”, no two days are the same; I am given something different and challenging each day to broaden my technical accounting skills. I also love the people I work with and meet each day.

I have grown in many ways from my internship with “Қазақстан Zaman”. I have grown my technical accounting skills by being exposed to real word accounting issues. I have also grown professionally through building a strong, professional network with fellow “Қазақстан Zaman” employees and interns from offices all over the country. Networking is a skill that takes time to develop and my internship has helped me develop my networking skills.

My internship with “Қазақстан Zaman” will help me maintain a strong network with fellow classmates and students. Building strong relationships with fellow classmates can only help in the future. My internship with “Қазақстан Zaman” will also help me be able to integrate technical accounting skills learned at “Қазақстан Zaman” into my accounting classes.

3 Reflection

The use of skills and knowledge gained in the universityIt is difficult to say what skills and knowledge gained in my study I could put in practice in my internship. At university we have studied course accounting with compliance with international standards. I think that this knowledge could be useful if I had internship in international company.

Enhancing communication skills

My internship stressed to me the importance of communication and teamwork especially. In today’s business world a lot of communication is done through email, and it really is a skill to be able to get your point across accurately and politely through email. On top of that, I have learned that teamwork is a must – you have to know how to ask for help, how to give help, and how to work with others to collaborate effectively.

The influence on future career plans

Before my internship in “Қазақстан Zaman”, I had some doubts about my future career. I was not sure if I would like to work as an accountant.

Through this internship, I have seen what elements of my career I like and I got enthusiastic to work as accountant previous years of my career, and after some to become auditor.

4 Conclusion

On the whole, this internship was a useful experience. I have gained new knowledge, skills and met many new people. I achieved several of my learning goals. I got insight into professional practice. I learned the different facts of working within organization.I have seen that employees can contribute to conservation, for example with their knowledge. Furthermore I experienced that it is of importance that the education is objective and that you have to be aware of the view of other people. Environmental education is not one sided, but it is a way of sharing knowledge, ideas and opinions. The internship was also good to find out what my strengths and weaknesses are. This helped me to define what skills and knowledge I have to improve in the coming time. After my bachelor I think that I could start my working career. However I could perform certain tasks in accounting better if I practice/know more about 1C program. It would also be better if I can present and express myself more confidently. At last this internship has given me new insights and motivation to pursue a career in accounting.