Internship Report on

T. SRIRAM, MEHTA & TADIMALLA, JAYANAGAR,

BENGALURU, KARNATAKA 560011
By

SANDEEP N

1MV23BA105

Subject Code: 22MBAIN307

Submitted to
VISVESVARAYA TECHNOLOGICAL UNIVERSITY,
BELAGAVI
In the partial fulfillment of the requirement for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION
Under the guidance of

INTERNAL GUIDE EXTERNAL GUIDE

Ms. Bhavyashree Nagaraj Mr Manjunath
Assistant Professor (Team Leader)

Department of MBA

SIR M. VISVESVARAYA INSTITUTE OF TECHNOLOGY

OFF KEMPEGOWDA INTERNATIONAL AIRPORT ROAD,

YELAHANKA, BANGALORE-562157

2024-2025
Company Certifica
 SIR M VISVESVARAYA INSTITUTE OF TECHNOLOGY
BANGALORE- 562157
DEPARTMENT OF MBA

CERTIFICATE

This is to certify that SANDEEP N bearing USN 1MV23BA105 is a bonafide student

of Master of Business Administration course of SIR M. VISVESVARAYA
INSTITUTE OF TECHNOLOGY Batch 2023-25, affiliated to Visvesvaraya
Technological University, Belgaum. Internship report on “T. SRIRAM, MEHTHA &
TADIMALLA” is prepared by him in Offline under the guidance of Ms. Bhavyashree
Nagaraj in partial fulfillment of the requirements for the award of the degree of Master
of Business Administration of Visvesvaraya Technological University, Belgavi
Karnataka.

Signature of Internal Guide Signature of HOD

Signature of Principal

External Viva Voce Examination

Name of the Examiners Affiliation Signature of the Examiners

1.
2.
 DECLARATION

I, Mr. SANDEEP N, hereby declare that the internship report entitled on “T.
SRIRAM, MEHTA & TADIMALLA” is prepared by me under the guidance of
Ms. Bhavyashree Nagaraj, Assistant Professor, Department of MBA, Sir M
Visvesvaraya Institute of Technology, Bangalore.

I also declare that this internship work is towards the partial fulfillment of the
University regulation for the award of degree of Master of Business
Administration by Visvesvaraya Technological University, Belagavi.

I have undergone an Internship for a period of four weeks. I further declare that
this project is based on the original study undertaken by me and has not been
submitted for the award of any degree/diploma from any other University/
Institution.

Place: Bangalore Name: SANDEEP N

Date: USN: 1MV23BA105
 ACKNOWLEDGMENT

I wish to express my sincere gratitude to Prof. Rakesh S. G, Principal SIR

MVIT for permitting me to undertake the project work.

I would place on record my sincere gratitude to Dr. Priyanka Sharma,

Associate Professor and HOD, Department of MBA for her constant support and
invaluable guidance throughout the completion of the project.

I am extremely thankful to Ms. Bhavyashree Nagaraj, Assistant Professor, SIR

M VISVESVARAYA INSTITUTE OF TECHNOLOGY, Bangalore, for her
technical expertise, advice and excellent guidance. The support given during the
project guidance was immense and helped me complete this Endeavour with
satisfaction.

I would like to thank “T. SRIRAM, MEHTA & TADIMALLA” for giving me
the opportunity to associate with such an esteemed organization and gain
practical exposure.

I would also like to thank my External Guide, Sir. MANJUNATH for his
constant guidance and support, which helped me successfully complete the
project undertaken.

I would like to extend my thanks to my family and all my friends who

helped me in completing this project work successfully.

PLACE: Bangalore Name: SANDEEP N

USN: 1MV23BA105
 TABLE OF CONTENT

SL CHAPTERS TOPICS PAGE NO

NO
1 Chapter 1 Introduction About the Organization &
Industry 1-3
2 Chapter 2 Organizational Profile
4-16

3 Chapter 3 Mckensy’s 7S Frame work Model &

Porter’s 5 force Model 17-22

4 Chapter 4 SWOT Analysis

23-24
5 Chapter 5 Analysis of Financial Statements
25-32
6 Chapter 6 Learning Experience
33-34
7
Bibliography 35
 LIST OF TABLES

PARTICULAR S PAGE NO

Table Showing Current Ratio 28

Table Operating Cost Ratio 29

Table Quick Ratio 30

Table Net Profit Ratio 31

Table Fixed Asset Turnover Ratio 32

 LIST OF GRAPHS

PARTICULARS PAGE NO

Graph Showing Current Ratio 28

Graph Showing Operating Cost Ratio 29

Graph Showing Quick Ratio 30

Graph Showing Net Profit Ratio 31

Graph Showing Fixed Asset Turnover 32

Ratio
 Executive Summary

This report is all about my internship in T. SRIRAM, MEHTHA & TADIMALLA. The
main aim of doing internship under the CA firm is to interact with the professional bodies
and gain some practical knowledge about the different organizations. My objective of this
report is to share my experience during internship period. This report provides an analysis
on the working of the employees and CAs in the firm. This report is the outcome of the
Internship program and summary of my work which I have done in T. SRIRAM, MEHTHA
& TADIMALLA. It was a great experience for me to work here. My theoretical and
practical knowledge related to taxation is helping me a lot.

Through this project report, I have studied about the registration and taxation services of T.
SRIRAM, MEHTHA & TADIMALLA. This report has been made to see how the
registration and taxation services management is done in T. SRIRAM, MEHTHA &
TADIMALLA.
 T. SRIRAM, MEHTA & TADIMALLA

CHAPTER: 1
INTRODUCTION ABOUT THE
ORGANISATION AND INDUSTRY

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 T. SRIRAM, MEHTA & TADIMALLA

The internship has been done in completion of the necessary for the alternative courses. The 4 weeks
internship program aims to give the students a realistic experience to the industry working atmosphere
and apply academic learning’s in the industry. This study is undertaken to realize the practical exposure
of the industry experience.

An internship is skilled work experience that provided students, bright graduates, and those who seek
to change career with opportunity to increase valuable knowledge and insight in the meticulous career
professional that will be able to achieve competitively in any of the organization of present world.

The internship study helps to enrich the practical knowledge of the students on the activities of the
organization, its functional departments, organizational structure, strengths, weakness, opportunities,
threats and the business performance.

The presents study was carried out at “T. SRIRAM, MEHTA & TADIMALLA, JAYANAGAR,
BENGALURU, KARNATAKA 560011”

INTRODUCTION ABOUT THE ORGANISATION:

T. SRIRAM, MEHTA & TADIMALLA is a professionally managed Chartered Accountancy firm offering a
wide range of services in the fields of accounting, auditing, taxation, financial advisory, and business consultancy.
Established in 1972, the firm has built a strong reputation for integrity, professionalism, and excellence in service
delivery.

The organization is structured to ensure efficient service delivery and client satisfaction. It is led by a team of
experienced Chartered Accountants who bring in-depth knowledge and expertise across various sectors. The firm
operates through specialized departments such as Audit & Assurance, Direct & Indirect Taxation, Corporate Law,
and Financial Advisory, each headed by a senior partner or manager.

We believe in a client-centric approach and strive to provide customized solutions to meet the unique needs of
every business. With a focus on continuous learning, adherence to regulatory compliance, and use of technology-
driven tools, T. SRIRAM, MEHTA & TADIMALLA aims to empower businesses and contribute to their growth
story.

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 T. SRIRAM, MEHTA & TADIMALLA

 Name of the firm T. SRIRAM, MEHTHA & TADIMALLA

 Date of Establishment 1972
 Constitution of the firm Partnership
 Date of Reconstitution of the firm 26 December 2003
 Registered office 4/02, 15th Cross Rd, South End Circle, 2nd
Block, Jaya Nagar East, Jayanagar, Bengaluru, Karnataka
560011
 No. of employees 200+
 No. of Partners 5

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CHAPTER: 2
Organization Profile

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i.Back ground

This company was started in Bangalore. The company is providing financial services to its customers since 1972
as it was started by CA T. Sriram in 1989. Firstly, there were 3 partners CA T. Sriram , CA Ritesh Mehta and CA
Vijay Tadimalla and later on 2 more partners were added they were CA Kavita P and Sushma Jindal partner of this
firm ‘T. Sriram, Mehta & Tadimalla’ has been able to create long lasting relationships with their clients through
loyalty and trust. They help their clients to achieve their commercial and personal goals. This enables T. Sriram,
Mehta & Tadimalla to match capabilities with those needed by our customers to meet the challenges of
tomorrow’s marketplace. It is a company which deals in taxation.

ii.Nature of Business:

T.Sriram, Mehta & Tadimalla is a Firm of Chartered Accountants providing a wide range of services across India
in the fields of Taxation, Audit & Assurance, Corporate Law, Finance, Risk & Transaction Advisory and related
domains, to global clientele. The Firm is headquartered At Bangalore with offices in Chennai and Hyderabad.

The Firm has served large global corporates, including many Fortune 500 Companies across Industry Verticals
and service domains.

The Firm and its 200+ members are dedicated to provide solutions and delivering promised outcomes to Clients,
with integrity at its core.

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iii.Vision, Mission and Quality policy:

Vision: ‘To be a leading comprehensive professional service provider to transform knowledge into value for
the excellence of our clients, our people and our communities’.

Mission: ‘Quality, efficacy and effectiveness in everything’

Quality policy:

 Integrity: We value integrity above all else and adopt a no-compromise approach when it comes to integrity.

 Ethics: We believe in doing what is right as opposed to what is merely easy. Our code of ethics is deep rooted and
every member of the Firm strives to inculcate its principles. The Firm adopts the code of ethics prescribed by the
Institute of Chartered Accountants of India.

 Social Responsibility: We have created an environment where a helping hand is always available. The Firm has
consciously adopted a ‘Go Green’ approach. The Firm conducts various community outreach programs through its
Foundation. The Firm also associates with Rotary International and has setup the first ever Corporate based
Rotaract Club.

 Diversity: We thrive in diversity. The Firm is home to people from different backgrounds, who bring diverse
thought process to the table, thus enabling path breaking outcomes for our Clients and the Society alike.

 Commitment: We are obsessed with our commitment! It is our constant endeavor in instilling commitment,
across the ranks, that enables us to transform our promises into reality.

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iv.Workflow Model:

1. Client Onboarding and Requirement Analysis

 Input: Inquiry from prospective clients or existing clients.

 Process:
o Conduct client meetings to understand needs (audit, taxation, bookkeeping, etc.).
o Gather client documentation (financial records, statutory information).
o Draft an engagement letter outlining scope, fees, and responsibilities.
 Output: Signed engagement letter and client details in the system.

2. Data Collection and Preliminary Review

 Input: Financial records and documents submitted by the client.

 Process:
o Review initial data for completeness and accuracy.
o Identify gaps or missing documents and request additional information.
o Set up client data in accounting or auditing tools.
 Output: Organized and verified data for further processing.

3. Service Execution (Based on Client Requirements)

 A. Audit Services
o Perform risk assessment and design audit plan.
o Conduct fieldwork, including sample checks, reconciliations, and verification.
o Document findings and discuss significant issues with the client.
o Prepare audit reports.
 B. Taxation Services
o Analyze client’s income and expenses for tax planning.
o Prepare and file tax returns (direct and indirect taxes).
o Represent the client during tax assessments or audits by authorities.
 C. Bookkeeping and Accounting
o Record financial transactions in compliance with accounting standards.
o Prepare financial statements (Balance Sheet, Profit & Loss, etc.).
 D. Advisory Services
o Provide strategic advice on mergers, acquisitions, or restructuring.
o Conduct financial feasibility studies and due diligence.
 Output: Completed audit reports, filed tax returns, financial statements, or advisory reports.

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4. Review and Quality Assurance

 Input: Draft reports, returns, or statements.

 Process:
o Senior accountants or partners review the deliverables.
o Ensure compliance with legal and regulatory frameworks.
o Perform quality checks to maintain professional standards.
 Output: Finalized and approved deliverables.

5. Client Delivery and Feedback

 Input: Finalized reports or deliverables.

 Process:
o Share deliverables with the client (via meetings, email, or secure portals).
o Address client queries or clarifications.
o Gather client feedback for future improvements.
 Output: Satisfied client and documented feedback.

6. Record Maintenance and Follow-Up

 Input: Completed projects and client feedback.

 Process:
o Archive client records securely for statutory and future reference.
o Monitor upcoming deadlines (tax filing, audit cycles).
o Follow up with clients for periodic services or renewals.
 Output: Updated records and proactive client management.

v. Product/Service profile:

 Statutory Audit: Statutory Audit under various Statutes such as Company Law, Partnership Act, GST,
etc.

A Statutory Audit is an audit mandated by a statute such as Company Law, Income Tax Law, GST, etc. The
purpose of a statutory audit is the same as the purpose of any other type of audit: to determine whether an
organization is providing a fair and accurate representation of its financial position by examining information such
as bank balances, bookkeeping records and financial transactions. The Statute specifically governs the focus of the
audit and requires the Auditor to opine on certain specific matters.

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 Internal Audit: Auditors have to think like Entrepreneurs to ensure the Needs and Risks of the Business
are accurately identified. Developing control systems in a collaborative manner to meet these needs and reduce
risks is the Firms approach to Internal Audit.

“Internal audit is a dynamic profession involved in helping organisations achieves their objectives. It is
concerned with evaluating and improving the effectiveness of risk management, control and governance
processes in an organisation .”

What They Offer:

Business Process Re-Engineering

Building and Implementing Standard Operating Procedures

Risk Profiling and Control Assessment

Cost Control and Cost Reduction Assignments

Revenue Maximisation and Revenue Assurance Assignments

 Due Diligence: Calm Waters Run Deep. Our Due Diligence Experts explore the Depths of organizations
with reference to their Financial Transaction correctness, confirmation of facts, exploring existence of undisclosed
liabilities, past, present and future.

What They Offer:

Seller Due Diligence

Buyer Due Diligence

Product Due Diligence

Technical Due Diligence

Statutory Compliances Due Diligence

Financial Due Diligence

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 T. SRIRAM, MEHTA & TADIMALLA

 Forensic Audits: To catch a thief our Forensic Experts turn Bloodhounds. Our Team of Certified Forensic
Auditors is equipped with the latest analytical tools and practices in order to gather strong evidence of transactions
of a fraudulent nature. Our Forensic Practice also covers continuous preventive checks and measures to ensure that
malpractices are identified on a real time basis and the framework for punitive action is quick and acts as a strong
deterrent.

 Management Audits: Benchmark Best Management Practices and Evaluate Results of Strategies adopted.
What are you doing Wrong???

 Are your People Happy?

 Are your Customers Satisfied?
 Is your Management Policy aligned to Local Needs?

 Market Discipline Audits: Assessment of Consistency in Retail Standards for a Multi-Location Retail
Brand.

What They Offer:

Quality Standards Review

Communication Standards Review

Sales Process Standards Review

Pricing Review

Discounting Review

Dispute Resolution

Identification of Malpractices

Scenario Simulation and Response Review

Mystery Shopping

Tailor Made Audit Engagements

Surprise Audits

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vi.Ownership Pattern:

1.Mr. T Sriram:

Mr. T Sriram is a fellow member of the Institute of Chartered Accountants of India and is in practice since 1972.

He specializes in Corporate Advisory and Taxation and is a well-known Indirect Tax consultant in India. He
especially recognized for his contribution in connection with taxation of Works Contracts and Leasing.
Mr. Sriram has served as the President of the India National Chapter of the Institute of Internal Auditors, Florida,
USA and also as its Direct Representative in the Middle East and India.

He is on the board of several well-known Companies in Bangalore.

He has been an active Rotarian over three decades and was President of Rotary Bangalore South West. In addition
to the above, he held various positions in the Rotary International District 3190.

He was the Trustee of Bangalore Kidney Foundation, a renowned charitable organization running a hospital and
Dialysis Center and the Chairman of CIVIC Bangalore, a citizen’s forum.

2. Mr. Ritesh Mehta:

Ritesh Mehta is a Managing Partner of the Firm and heads the Corporate Advisory, Valuation and the
Indirect Tax Practice of the firm.

He specializes in transaction advisory and guides Companies on tax structures, valuation and governance
framework. Along with being on the advisory board of large Corporates and advising them on strategy, finance
and governance, Ritesh has also been steering start-ups over the last decade, helping them setup robust systems
that enable better compliance and governance, and getting them ‘due diligence ready’.

He has authored several articles on Indirect Taxation and has been instrumental in setting up India specific
tax frameworks for Multinationals. Ritesh is involved in several philanthropic initiatives, working with Rotary and
also serving as a Director of Bangalore Kidney Foundation. Ritesh is a Fellow Member of the Institute of
Chartered Accountants of India and has been a Practicing Chartered Accountant since 2004. An avid reader and
passionate traveler, Ritesh lives in Bengaluru with his wife, son and numerous pets.

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3. Mr. Vijay Tadimalla:

Vijay Tadimalla, the Managing Partner of the firm, comes from a family of Professionals comprising of
Chartered Accountants and Lawyers. Vijay has vast experience in Corporate Advisory, Audit & Assurance and
highly
focused result oriented special assignments.
He completed his training from Deloitte, Haskins & Sells in 2003 and since Co-founded the Firm, heading
its Audit & Assurance Division.

He is a fellow member of the ICAI and has handled Internal Audits, Statutory Audits, Risk profiling,
Forensic Audits and Process Review assignments for several large corporations.

He has been instrumental in turning around Corporates by adopting Best Practices and Structured Systems
of Working.

His experience spans industry sectors and Geographies. He has set up the Forensic and Management Audit
Division of the Firm servicing Clientele across India.

He is currently serving as an Advisor / Director on the Board of Directors for several Companies. He is
actively involved in Rotary International and has served as Club President (One of the Youngest in India) District
Treasurer, Assistant Governor, Chairman Finance Committee and Audit Committee.

His passion has led him to advise large projects in the area of music and sports on a purely voluntary /
honorary basis. He spends considerable amount of time mentoring Philanthropic Organisations and Projects.

He is currently a Trustee of The East West School and manages the Finance Portfolio of the Institution.

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4. Ms. Kavitha P:

Kavitha, is a fellow member of the Institute of Chartered Accountants of India and is in practice since
2005. Kavitha heads the Direct Taxes, Corporate Law and Corporate Advisory divisions of the Firm.
Her experience includes tax advisory, tax litigation management, Cross Border Transactions, Transfer Pricing,
International Taxation and Corporate Tax Structuring across industries. She has successfully represented Clients
before various Appellate authorities and other forums.

She advises multi-national corporates on joint ventures, inbound and outbound investments and transaction
structuring. Her specialisation lies in offering solutions by relating business strategies to tax and regulatory
environment.

She has vast experience in dealing with statutory audits, finance and corporate governance matters of
companies, partnerships, Trusts etc. and mentoring and advising Start-ups. She also helps clients in Succession
Planning and Family Arrangements.

She is part of Board of Directors and Board of Advisors of many companies.

She is a member of Kannada Sahitya Parishad and writes articles on social awareness topics in regional
newspapers. She is the Founder and Managing Trustee of ‘Chiranthana’, a NGO functioning in rural Karnataka,
The Trust is mainly focusing on education in rural areas.

She loves Carnatic Music and plays the Veena.

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5. Sushma Jindal:

Miss Sushma Jindal, the youngest of the partners, heads the Internal Audit division of the Firm. She carries
an experience of 10 years in the field of Statutory Audits, Internal Audits, Forensic Audits and Business Advisory
Services.

Upon completing her CA in the year 2011, she joined the Firm as an Audit Manager. Being an integral part
of the robust growth of the Firm, she climbed the ladder to become a partner at the firm in January 2017.

An embodiment of calm demeanor, she soon became the go-to business operations advisor for her clients.

Also, a Certified Forensic Auditor, she is an expert in the field of Forensic audit and stewards the
Department of Forensic Audit & Investigations in the firm

She leads from the front and over the course of her career, she has mentored numerous candidates in
leadership.

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vii.Future Growth and Prospects:

1. DEFINED GROWTH PATH

At TSMT, we chalk out a growth path and opportunities for our people which are unique to us. We believe in hard
work and handsomely reward performers.

2. BIG FIRMS
Most of our alumni are working with the best in the world. We are proud of them. Some of them want to come
back and we welcome them with open arms.

3. 200 EMPLOYEES
Our people are our strength. They have made us into who we are today. We hand-pick our people and back them
up. Our team has grown past 200 people and we are proud of all of them.

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4. LEGACY OF 40 YEARS
We are proud of our roots. We have strived hard to reach where we are today and are grateful to everyone who has
been a part of the journey so far

5. 2 DECADES WITH TSMT

We have people who have been with us for over 20 years. Needless to say, they have achieved great heights in
their career.

6. 5 YEARS
Our average employment period is 5 years. Meaning we offer a pretty solid work culture and a great compensation
structure. Attrition, what’s that?

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CHAPTER: 3
McKinsey’s Model and Porters Five Force
Model

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McKINSEY’S 7’S MODEL WITH SPECIAL REFERENCE TO ORGANISATION

UNDER STUDY

It is a tool that analyses firm’s organizational design by looking at 7 key internal

Elements: strategy, structure, systems, shared values, style, staff and skills, in order to identify if
they areeffectively aligned and allow organization to achieve its objectives.
The Mckinsey 7S Framework is a management model developed by well-known business consultant
Robert
H. Waterman and Tom Peters in the1980’s. This was a strategic vision for groups to include business,
business units and teams. They published their 7’s model in article ‘structure is not organisation’ ‘the
art of Japanese Management’ and ‘in search of excellence’. This model contains 7 elements and they
are: strategy, structure, system, shared values, style, staff, and skills. And this 7’sdistinguished into
hard S’s and soft S’s.

Strategy

 The firm’s approach to gaining and maintaining clients in a competitive environment.

 Example: Focus on niche services like forensic auditing, international tax advisory, or providing value-
added consulting alongside traditional audit and compliance work.

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Structure

 Typically hierarchical with partners at the top, followed by managers, senior associates, and junior staff.
 Examine whether the CA firm uses a partnership model or a more corporate structure for accountability
and profit-sharing.

Systems

 Internal processes such as client onboarding, quality control (peer review, audit standards compliance), and
technology adoption (cloud accounting, ERP).
 Example: Use of advanced accounting software like Tally, ZohoBooks, or proprietary solutions to
streamline operations.

Shared Values

 Ethical practices, integrity, and maintaining client confidentiality are core values.
 Example: A culture that emphasizes continuing professional education to ensure compliance with evolving
laws and standards.

Style

 Leadership style (collaborative vs. directive) among partners and senior managers.
 Example: Democratic decision-making in client selection or service expansion vs. centralized leadership.

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Staff

 Skilled professionals, including Chartered Accountants, Cost Accountants, and interns pursuing CA
qualifications.
 Example: Regular training programs and clear career progression paths to retain top talent.

Skills

 Core competencies include expertise in tax laws, auditing standards, risk assessment, and advisory
services.
 Example: Specialization in cross-border taxation or industry-specific advisory (e.g., real estate, healthcare).

Skill matrix

Skills/Dept Partner Manager Senior Associate Associate

Financial Reporting Yes Yes Yes Yes

Audit & Assurance Yes Yes Yes Yes
Direct Taxation Yes Yes Yes No
Indirect Taxation Yes Yes Yes No
(GST, etc.)
Corporate Law & Yes Yes Yes No
Compliance
Financial Analysis & Yes Yes Yes No
Modeling
Internal Controls & Yes Yes Yes No
Risk
Client Yes Yes Yes No
Communication
Team Leadership Yes Yes Yes No
Accounting Software Yes Yes Yes Yes
Knowledge
Regulatory Updates Yes Yes Yes No
& Research

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2. Porter’s Five Forces Model:

Threat of New Entrants

o Moderate threat due to the high entry barrier of professional qualifications (CA certification) but low
capital requirements.
o Larger firms protect their market through brand recognition and long-standing client relationships.

Bargaining Power of Suppliers

o Minimal in this sector as the primary resources are skilled professionals and technology platforms.
o Dependency on software providers like SAP, Zoho, or accounting tools may influence costs but not
significantly.

Bargaining Power of Clients

o High, as clients often have multiple options for accounting services.

o Retention strategies: Offering personalized services, competitive pricing, or bundling services (e.g., audit +
taxation advisory).

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Threat of Substitutes

o Rising automation and AI-driven accounting tools pose a substitute threat for basic compliance tasks.
o Mitigation strategy: Shift focus to value-added services like strategic advisory, tax planning, or forensic
accounting.

Competitive Rivalry

o High competition among CA firms due to the abundance of small and medium-sized firms and a few big
players.
o Strategies to differentiate: Expertise in niche sectors, better client relationships, or leveraging technology
for efficiency.

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CHAPTER: 4
SWOT ANALYSIS

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SWOT Analysis

 STRENGTH  WEAKNESS

 Partnership Firm  Tough Competition from Other

 Skilled Workers Knowledge
 Loyal Customers  Consulting Agencies
 Strong Brand Equity  Adverse Publicity Due to Lawsuits
 Weak IT department
 Weak Training Procedure for New
Audit
assistant

 Opportunity  Threats
 Complex Tax Laws Enhancing the  Higher Competition in Market
Opportunity  External Changes
 Increase in Companies Looking for  Lower Profitability
Expert Business Solutions  Technology Problem
 GST
 There are enormous growth prospects
in emerging markets

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CHAPTER: 5
ANALYSIS OF FINANCIAL
STATEMENT

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ANALYSIS OF FINANCIAL STATEMENT

T. Sriram, Mehta & Tadimalla Chartered Accountants has shown steady growth in revenue and profitability
over the last 3 years, with diversification into advisory services. The firm maintains strong liquidity but faces
some challenges in managing operational costs.

• Revenue Growth: Revenue increased by 18.1% from 2022-2023 to 2023-2024, driven by higher
consultancy, audit, and taxation services.
• Profitability: Net profit saw a 20.6% increase due to higher revenue and controlled expenses.
• Liquidity: Cash and bank balances grew, reflecting strong liquidity.
• Assets: Increase in accounts receivable and work-in-progress indicates higher billable work.

Statement of Profit and Loss Account

Particulars 2022-2023 2023-2024

Revenue:
Professional Fees from Clients 11,59,094.02 12,87,882.24
Consultancy Income 2,89,773.50 3,54,167.62
Taxation Services Revenue 1,93,182.34 2,25,379.39
Audit Services Revenue 3,21,970.56 3,86,364.67
Other Income 64,394.11 77,272.93
Total Revenue 20,28,414.53 23,95,460.96

Expenses:
Salaries & Wages 6,43,941.12 7,72,729.34
Rent & Office Maintenance 77,272.93 83,712.35
Marketing & Promotion 32,197.06 38,636.47
Technology & Software Expenses 48,295.58 57,954.70
Professional Development & 25,757.64 28,977.35
Training
Utilities and Office Expenses 19,318.23 22,537.94
Depreciation 32,197.06 35,416.76
Miscellaneous Expenses 16,098.53 19,318.23
Total Expenses 9,14,396.39 10,52,843.73

Profit Before Tax (PBT) 11,14,018.14 13,42,617.23

Less: Tax (30%) 3,34,205.44 4,02,785.17
Net Profit 7,79,812.70 9,39,832.06

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Balance Sheet

Equity & Liabilities 2022-2023 2023-2024

Liabilities:
Accounts Payable 1,60,985.28 1,80,303.51
Short-Term Loans 64,394.11 77,272.93
Taxes Payable 32,197.06 38,636.47
Total Liabilities 2,57,576.45 2,96,212.91

Equity:
Share Capital 2,57,576 2,57,576
Retained Earnings 3,73,485.85 4,79,736.13
Total Equity 6,31,062.30 7,37,312.58
Total Liabilities & Equity 8,88,638.74 10,33,525.50

Assets 2022-2023 2023-2024

Non-Current Assets:
Office Equipment 77,272.93 83,712.35
Furniture & Fixtures 51,515.29 61,174.41
Computer Equipment 64,394.11 77,272.93
Total Non-Current Assets 1,93,182.34 2,22,159.69

Current Assets:
Cash and Bank Balances 2,57,576.45 2,89,773.50
Accounts Receivable 3,21,970.56 3,86,364.67
Work in Progress (Unbilled 96,591.17 1,09,469.99
Fees)
Prepaid Expenses 19,318.23 25,757.64
Total Current Assets 6,95,456.41 8,11,365.81
Total Assets 8,88,638.74 10,33,525.50

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RATIO ANALYSIS

1. CURRENT RATIO
Current Ratio= current assests / current liabilities

Year Current Assets Current Liabilities Current Ratios

2022-23 6,95,456.41 2,57,576.45 2.70
2023-24 8,11,365.81 2,96,212.91 2.74

Interpretation
1. Improvement Observed: The current ratio has increased from 2.70 (2022–2023) to 2.74 (2023–2024),
indicating a slight improvement in the company's short-term liquidity position.
2. Strong Liquidity: A current ratio above 2 suggests the company is in a healthy position to meet its short-
term liabilities using its current assets.
3. Operational Efficiency: The marginal increase could reflect better working capital management, such as
improved receivables collection or optimized inventory levels.
4. Stability: The current ratio has remained consistently above 2.5 for both years, showing financial stability
and prudent financial planning.
5. No Immediate Solvency Concern: With a ratio well above 1, the company is not at risk of liquidity crunch,
giving it a good cushion to handle unexpected expenses or slowdowns.

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2. OPERATING COST RATIO :

Operating Cost Ratio = Total Expenses/ Total Revenue*100

Year Total Expenses Total Revenue Operating Cost

Ratio
2022-23 9,14,396.39 20,28,414.53 45.10%
2023-24 10,52,843.73 23,95,460.96 43.96%

Interpretation:
1. Reduction in Operating Cost Ratio: The ratio has decreased from 45.10% in 2022–2023 to 43.96% in
2023–2024, showing improved cost efficiency.
2. Improved Profitability: A lower operating cost ratio means a larger portion of revenue is available as
profit, indicating better overall financial performance.
3. Cost Control Measures: The decline suggests that the company may have implemented successful cost-
cutting or optimization strategies during the year.
4. Operational Efficiency: This improvement reflects better utilization of resources and enhanced operational
control.
5. Positive Financial Trend: The trend is favorable and shows that the company is moving towards greater
financial sustainability by managing its operating expenses relative to revenue.

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3. QUICK RATIO:

Current assets – Quick assets / current liabilities

Year Quick Assets Current Liabilities Quick Ratio

2022-23 6,76,138.18 2,57,576.45 2.62
2023-24 7,85,608.16 2,96,212.91 2.65

Interpretation:

1. Slight Improvement: The quick ratio has increased from 2.62 in 2022–23 to 2.65 in 2023–24,
indicating a small but positive improvement in the company's liquidity.
2. Strong Liquidity Position: A quick ratio above 1 (and especially above 2) signifies that the
company has sufficient liquid assets to cover its current liabilities without relying on inventory.
3. Efficient Working Capital Management: The rise may reflect better management of accounts
receivable or cash reserves, enhancing the company’s ability to handle short-term obligations.
4. Lower Financial Risk: A high quick ratio reduces the risk of liquidity issues, making the company
more financially stable and attractive to investors and creditors.
5. Consistent Financial Health: The consistent improvement in the ratio over two years shows that the
company is maintaining or slightly enhancing its short-term financial health.

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4. NET PROFIT RATIO:

NET PROFIT RATIO= (NET PROFIT / TOTAL REVENUE) *100

Year Net Profit Total Revenue Net profit ratio

2022-23 7,79,812.70 20,28,414.53 38.44%
2023-24 9,39,832.06 23,95,460.96 39.23%

Interpretation:
1. Increase in Profitability: The net profit ratio has improved from 38.44% in 2022–23 to 39.23% in 2023–24,
reflecting an enhancement in the company’s overall profitability.
2. Better Cost Management or Revenue Growth: This increase may be due to either higher revenues, better
pricing strategies, or effective cost control, leading to more profit per unit of sales.
3. Healthy Bottom Line: A ratio close to or above 40% suggests a strong bottom-line performance, indicating
that a significant portion of the revenue is being converted into net profit.
4. Financial Strength: The improvement in net profit ratio strengthens the company’s financial position,
making it more attractive to investors and stakeholders.
5. Positive Business Trend: The upward trend signals efficient operations, financial discipline, and strategic
planning, which is encouraging for future growth.

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5. FIXED ASSETS TURNOVER RATIO :

Fixed Asset Turnover Ratio = Total Revenue / Total Non-current assets

Year Total Non- current Total Revenue Fixed asset

assets turnover ratio
2022-23 1,93,182.34 20,28,414.53 10.50
2023-24 2,22,159.69 23,95,460.96 10.79

Interpretation:
1. Slight Efficiency Improvement: The ratio increased from 10.50 in 2022–23 to 10.79 in 2023–24, indicating
that the company is using its fixed assets more efficiently to generate revenue.
2. Better Asset Utilization: This means for every ₹1 invested in fixed assets, the company generated ₹10.79 in
sales during 2023–24, compared to ₹10.50 in the previous year — a positive operational indicator.
3. Operational Growth: The rise suggests either higher revenue generation or optimized asset deployment,
reflecting improved management of capital investments.
4. Capital Productivity: A higher fixed asset turnover ratio is generally desirable, as it shows the firm is
achieving more output with relatively stable asset levels.
5. Strong Investment Justification: This trend can help justify past investments in fixed assets and could
support future capital expenditure decisions, indicating scalability.

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CHAPTER: 6
LEARNING EXPERIENCE

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LEARNING EXPERIENCE

Objective of the Study is to have overall idea of the working of different industries. During this internship
I worked with, ‘T. Sriram, Mehta & Tadimalla’ Chartered Accountants firm and have learnt many new
skills. Before internship I had only theoretical knowledge about work in organization. Now I have some
practical knowledge and experience of functionality in an organization. Now I have knowledge about the
transactions of different businesses be it sole proprietor, partnership, manufacturing concerns, service
providers, etc.

This internship will help me to know the applicability of accounting in the business. Following are the
objectives that I have in my mind before working as an internee: -
a) To learn about the jobs performed by a Chartered Accountant.
b) To gain experience on legal aspects of accounting
c) To experience the life in the business world.
d) To expand knowledge on areas of accounting
e) To develop personality and communication skills.
f) To interact with clients to know how the market functions.
g) To apply the theoretical knowledge in actual organization.
h) To get experience about the accountability to boss.
i) To know how to present in front of boss.
j) To learn book keeping practices of different type of organizations
k) To learn about prevalent tax structure.
l) To plan for the future of oneself and learn how to adjust in an organization.
m) To analyze the business situation.
n) To compare practical aspects with theoretical aspects.
o) To promote my personal knowledge and professional preparation for future

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 BIBILIOGRAPHY

WEBSITES:

https://www.tsmt.in/advisory-services/
https://www.tsmt.in/about-the-firm/
https://www.tsmt.in/partners/
https://www.tsmt.in/audit-and-assurance/
https://www.tsmt.in/direct-and-indirect-taxation/
https://www.tsmt.in/corporate-and-allied-laws/
https://www.tsmt.in/advisory-services/
https://www.tsmt.in/outsourcing/
https://www.tsmt.in/industries/

BOOKS NAME:

SL NO Books Name Author Name

1 Cost Accounting M Y Khan
2 Marketing Management By Philip Kotler
3 Financial Management By I M Pandey

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