Income and Expenditure Statement in Globe Pharmaceuticals Limited

Chapter: 1

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1. Rational of the study

I am a 6th Semester of MBA Student. I am working in Globe pharmaceuticals Group Of Companies Ltd. as a Jr. Executive Accounts & Finance Department. I have acquired required knowledge about GPL’s Accounts & Finance related activities that will help me to perceive a common picture about Accounts & Finance related activities in all similar companies in Bangladesh. I can identify my lacking and prepare myself for future job market. So, I have the same opinion that this fruitful report not only assure reasonable grade mark in my curriculum result but also assure well-done feedback for near future job market.

1.2 Origin of the Report

To acquire practical knowledge about real life situation each student of Department of Finance & Accounting, Faculty of Business Administration, American international University-Bangladesh has to carry out an internship program. As only the theoretical orientation cannot make one suitable in real life. For this reason, the internship placement committee had placed me for internship program at Globe Pharmaceuticals Limited for a period of three months duration. I have tried to get an insight about the company’s Finance and Accounts Department so that I can get an overall idea about the measures taken to ensure efficiency, steps taken to ensure quality of accounts activities.

1.3 Background of the company

Globe Pharmaceuticals Limited is now a fast growing industrial conglomerate, which was established by Mr. Harunur Rashid. During early 1983 the supply situation of Pharmaceuticals products in Bangladesh was in turmoil. Business initiatives were very limited despite huge demand in the local market.  Mr. Harunur  Rashid  established manufacturing companies and organized countrywide distribution chain this time. Gradually he got involved in more risky ventures of import trade in the early nineties. The companies participated in the bulk trade of Pharmaceuticals products like Tablet, Syrup, Injection, Capsule etc.

When the supply and demand situation eased out to a tolerable extent, Mr Harunur Rashid  felt the necessity in developing pharmaceutical processing industry that would help reduce import dependency. Due to better communication facility the site in Alipur  Majdee road , Noakhali ,The first industrial unit of Globe Pharmaceuticals Limited. Lunch 2nd Group of company factory at Kachpur , Naryangonj.

The Company has its own Power Plant of 35 MW capacity to meet its power requirement. is the latest entrant in the Globe Pharmaceuticals Limited with a production capacity of 500 cartons  Tablet and others per day.

The group of company has about 6000 permanent employees and around 2000 casual labor force. Its annual turnover is approximately BDT 2000.00 Crore and it has thus contributed much to the industrialization and development of the socio-economic condition of the country in terms of reducing unemployment, saving valuable foreign currency and reducing import dependencies and earning foreign currencies through exports of its  products .

The Consumer Brands Division boasts in having an unequivocal presence in consumers' heart with the market leading brands like OP-20, Paul Puls, Kapron,Royal Tiger energy drink, Mangolee Juice, Fizz up, Uro cola soft drinks, Delica, Brittle Biscuit and many other consumer goods.

For the uncompromising product quality and strong management policy most of the industrial units of the Globe Pharmaceuticals Limited has been awarded ISO9001; 2000 certification.

Globe Pharmaceuticals Group of Companies

1.4 Management Body