Scanwell Logistics (Pvt)

8/10/2019 Scanwell Logistics (Pvt)

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SUBMITTED TO:- SIR KAMRAN

MADE BY:- 1,AHMED KANANI

2,WASIF AHMED

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MR.ADNAN HUSSAIN

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The company was formerly known as

National Logistics Limited and

changed its name to Scanwell-

Logistics Pakistan) Limited in

March 1990. Scanwell-Logistics

Pakistan) Limited was incorporated

in 1977 and is based in Karachi,

Pakistan.

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We strive to become a leader in the field

providing seamless logistics services and

effective supply chain management

solutions to our clients. We take pride on

the quality of service from our specialized

staff providing personal understanding of

customer needs.


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SCANWELL LOGISTICS PAKISTAN (PVT)LTD. is one of the Transport & Logistics inKarachi, Sindh.

It is one the largest Asia-based freightforwarding and Logistics company.

Its headquarter is located in Hong Kong,but its regional headquarter operates inChina, South East-Asia, and NorthAmerica to facilitate for better service.


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Oral Care

Personal Care

Home CarePet Nutrition


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Succeeding With Consumers, The

profession And Our Customers

Innovating Everywhere

Effectiveness And Efficiency In

Everything

Strengthening Leadership

Worldwide


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STRENGTH WEAKNESS OPPORTUNIY THREAD

CHEAP

LABOUR

LACK OF

RESEARCH &

DEVELOPME

NT

BRANDING DUE TO

UNAWAREN

ESS THE

DEMAND OFPRODUCT

MAY

COLLAPSE

AREA &

LOCATION

NO

MARKETINGOF

PRODUCTS

EXPORTS

GENERATE

PROFITS

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THECOLLECTIVEPROCESSOFRECORDING

ANDPROCESSINGTHEACCOUNTINGEVENTS

OFACOMPANYISCALLEDANACCOUNTING

CYCLE

. I

T

IS

A

SERIES

OF

ACTIVITIES

THAT

BEGINSWITHATRANSACTIONANDENDS

WITH

THE

CLOSING

OF

THE

BOOKS

. B

ECAUSE

THIS

PROCESS

IS

REPEATED

EACH

REPORTING

PERIOD

,

IT

IS

REFERRED

TO

AS

THE

ACCOUNTINGCYCLE.

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1-SOURCE

DOCUMENTS 2-JOURNALS

3-LEDGER 4-TRIALBALANCE

5-FINANCIALSTATEMENTS

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ITISCOMMONFORABOOKKEEPERTOKEEPSEVENDIFFERENT

JOURNALS I.E. SEVENBOOKSOFFIRSTENTRY). EACHBOOK

COVERSADIFFERENTASPECTOFTHEBUSINESS.

THEYARE:

SALESDAYBOOK

RECORDINGCREDITSALES

PURCHASESDAYBOOK- RECORDINGCREDITPURCHASES

RETURNSINWARDSDAYBOOK

RECORDINGSALESRETURNS

RETURNSOUTWARDSDAYBOOKRECORDINGPURCHASES

RETURNS

CASHBOOK- ALLCASH/BANKTRANSACTIONS

PETTYCASHBOOKALLSMALLCASHTRANSACTIONS

JOURNALALLTRANSACTIONSNOTRECORDEDELSEWHERE

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WHENWEBRINGTOGETHERALLTHE

ACCOUNTSOFTHESAMENATUREONONE

PAGE, WEAREINFACTPREPARINGALEDGER

ACCOUNT.

TOPREPAREATRIALBALANCEFORPROVING

THEARITHMETICALACCURACYOFTHERECORD.

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SCANWELLPREPARESTHETRIALBALANCETOMAKESURETHATDEBITSEQUALCREDITS. THETRIALBALANCEISALISTINGOFALLOFTHELEDGERACCOUNTS, WITHDEBITSINTHELEFTCOLUMNANDCREDITSINTHERIGHTCOLUMN.WHENTHELEDGERSAREBALANCEDOFF, THEYARE

TRANSFERREDTOTRIALBALANCEBYTHESENIORACCOUNTANTWHEREERRORSARERECTIFIEDIFFOUND.ASTHETRIALBALANCEISPREPARED, NOWITISRECHECKEDBYTHECHIEFACCOUNTANTTOFINDOUTIFTHEREARESOMEERRORSINIT. A COMPANYPREPARESATRIALBALANCEPERIODICALLY, USUALLYATTHEENDOFEVERYREPORTINGPERIOD. THEGENERALPURPOSEOFPRODUCINGATRIALBALANCEISTOENSURETHEENTRIESINACOMPANY'SBOOKKEEPINGSYSTEMAREMATHEMATICALLYCORRECT.

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THEBALANCESHEETISONEOFTHEMOSTIMPORTANT

STATEMENTSINACOMPANY'SACCOUNTS. ITSHOWS

WHATASSETSANDLIABILITIESACOMPANYHAS, AND

HOWTHEBUSINESSISFUNDED

THEBALANCESHEETPROVIDESINFORMATIONTHATIS

USEFULWHENASSESSINGTHEFINANCIALSTABILITYOF

ACOMPANY.

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Assets Capital & Owners Equity

Deficit Dr. Ghazala Ahmed######

Dr. Ghazala Ahmed ######

Deficit Mrs. Uzma Tahir######

Mrs. Uzma Tahir ######

Deficit Dr. Muddasir Saqib######

Dr. Muddasir Saqib ######

Total Capitals ######

Current Account:-

Dr. Ghazala Ahmed######

Mrs. Uzma Tahir######

Dr. Muddasir Saqib######

Net Profit 12 Month

Total Current account ######

Total Deficit ###### Total Capital ######

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Current Assets:- Current liabilities:-

Cash In Hand ###### Bills Payable #####

Cash in Bank (002497001)

###### Security Deposit

(C.Clinic)

#####

Security Deposit###### #####

Accounts receivable ###### D.I.Bank (004858) #####

Dr Ghazala Ahmed (Welfare loan) ###### Audit Fees Payable #####

W.H.T Clinet ###### #####

###### #####

Staff Loan ###### #####

Closing Stock###### #####

###### #####

Total current assets ###### Total current liabilities #####

Fixed Assets:- Allowances For Depreciation:-

Lab. Equipment #### Lab. Equipment ###

Office Equipment #### Office Equipment ###Computer & Printer #### Computer & Printer ###

Computer & Software #### Computer & Software ###

Furniture & Fixture #### Furniture & Fixture ###

Total Fixed assets#### Total Allowances For

Depreciation

###

Total Assets #### Total liabilities ###12/18/2014 22


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THESALESTURNOVERDURING2012 HASINCREASEDBY4.21% OVERTHEPREVIOUSYEAR. HOWEVERWITHTHEINCREASEINTURNOVER, SALESTAXANDOTHERSALESDISCOUNTSWHICHREPRESENTOUTFLOWSHASALSOINCREASED, BUTTHEOVERALLEFFECTONNETTURNOVERISTHATITINCREASEDIN2012 BY2.35%. ITMAYBEDUETOINCREASEINNUMBEROFUNITSSOLDORINCREASEINTHESELLINGPRICE. ITSEEMSTHATEITHERTHECOMPANYHASLAUNCHEDANEWPRODUCT, WHICHHASBEENVERYSUCCESSFULAMONGTHECUSTOMERS

ORTHECOMPANYHASMADEANENORMOUSADVERTISEMENTCAMPAIGNWHICHMIGHTHAVEINCREASEDTHEDEMANDOFTHEPRODUCTEVENATHIGHERPRICES.

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The Scanwell-Logistics company looks like a great investing opportunity;

it is one of the largest companies operating in Pakistan and has a reliable

good will. However, the reason to invest in this company must not be its

good will but some important accounting concepts must be applied in

order to decide whether or not the investment should be made. One of the

basic reasons to invest in the company is that it has a good accounting

system, it has developed great internal control through internal auditingwhich minimizes the chance of frauds, and moreover the company is

complying exactly with the code of corporate governance and also fulfills

the corporate social responsibilities. Another reason that must attract the

investors is the remarkable performance of the company over the years,

from 2012-2011, the gross profit has increased by 37.7% where as the

operating profit increased by 48.5%; the plant property and equipment

experienced about 60% increase; furthermore we see an increased paid-up

capital. The gross profit margin has increased from 25%(2011) to

33%(2012), the operating profit margin increased from 11% to 15%, the

current ratio moved from 2.5:1 in 2012 to 2.8:1 in 2011, the quick ratio

being constant, i.e. 1.5:1,the working capital, total assets total liabilities

has increased by 32.4%.

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Improvements required by the mint printers according to our

analysis are:

They should maintain provision for bad debts We got to know

from

Mr. Ali Abbas that the company does not maintain provisions fordoubtful debts. In our course we have learnt that the benefits of

the allowing accounting for doubtful debts are very useful.

Expensing estimated losses each month offsets the revenue for the

month affected by the loss. If one doesnt account for these losses

on a monthly basis, the income statement is likely to take a big hit

at the end of the fiscal year. This has a negative impact on thecompanys financial statements and may impact the company's

ability to obtain credit.

The business can expand if more directors/share holders are asked

to invest capital in the business.

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Documents

Scanwell Logistics (Pvt)