Professional Documents
Culture Documents
Submitted in partial fulfillment for the Award of degree of Master of Business Administration
SUBMITTED BY:
SUBMITTED TO:
PREFACE
I had undergone a practical training under Dainik Bhaskar. It was a good exposure for me to undergo training in such a company to get the knowledge and experience regarding Financial Budgets.
Summer training is one of the major experiencing components of the knowledge, gain of relevant of information for dealing with situations in a professional course like M.B.A. where a professional person faces a problem in a field.
To analyze the Dainik Bhaskar Monthly Review Report on Which basis I can make my Own JUNE month Projected Budget of Dainik Bhaskar With effective Profit Planning & Cost Cutting.
Hence my study will highlight the Important Area of Costs where company can really have to look upon.
This project really helped me to analyze the financial tools very closely.
It is good to have enthusiasm but it is essential to have training. Training can be in all way of life. Thus I would say that this training was beneficial educative & good exposure to me, which will certainly help in my near future. This project was designed with respect to this company. The project made me to get the enhanced knowledge regarding Financial Budgets.
Acknowledgement
I express my sincere thanks to my project guide, Mr. Pradeep Soni Designation General Manager, Department Finance , for guiding me right form the inception till the successful completion of the project. I sincerely acknowledge him/her/them for extending their valuable guidance, support for literature, critical reviews of project and the report and above all the moral support he/she/they had provided to me with all stages of this project. I would also like to thank the supporting staff of DAINIK BHASKAR Department, for their help and cooperation throughout our project.
(Signature of Student)
EXECUTIVE SUMMARY
The newspaper is the most popular media in the print category. Today reading newspaper is a habitual activity for educated people all over the world. A booming Indian economy literate population on the rise, increasing consumerism, entry of global brands in the country and opening of the sector to foreign investors would drive the growth in print media. Also, with newspaper companies entering into newer regions and segments would lead to stronger growth. Newspaper in India can benefit a lot from an exchange of ideas within the industry and be learning from other industries as well. Newspapers are valuable and they can be sustained by making them good brands. Building the brand value of a newspaper is really important for circulation, audiences and advertising revenues. In any organization Finance and Accounts department work as backbone of the organization. As we already know importance of newspaper, I decided to understand the Financial and Accounting work of the newspaper company. Then we undergo training in Dainik Bhaskar. I learn here, how Financial and Accounting work is done. The Finance work in Dainik Bhaskar is based on Budget. A budget is a detailed plan of operations for some specific future period. It is an estimate prepared in advance of the period to which it applies. In Dainik Bhaskar I learn how budget of month for all expenses are made and how actual expenses incurred is also derived, they also taught us how variance between budget and actual are calculated and how corrective measure is taken to minimum the variance, if any. Budget acts as a business barometer as it is a complete programmed of activities of the business for the period covered.
CONTENTS
PART I
INTRODUCTION TO INDUSTRY Industry 8 Overview 9 of Newspaper Industry 7 Scenario
PART II
PART III
METHODOLOGY SAP ERP Implementation of SAP in Organization
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24 25 26 29
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PART V
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&
FINDINGS
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PART VI
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73
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INTODUCTION TO INDUSTRY
Industry Scenario
INDUSTRY SCENARIO
A Brief History of Newspapers:- The newspaper as we know it today is a
product borne of necessity, invention, the middle class, democracy, free enterprise, and professional standards. Pre-history "newspapers" were one-to-one in nature. The earliest variation on a newspaper was a daily sheet published in 59 BC in Rome called Acta Diurna (Daily Events), which Julius Caesar ordered posted throughout the city. The earliest known printed newspaper was in Beijing in 748. The 1700s was a century in which market elements were created that encouraged the development of daily newspapers: rising literacy, the formation of nation-states, a developing postal system, the proliferation of urban centers, a rising literary and philosophical tradition emphasizing democratic involvement in government, and technologies that supported newspaper production. In short, it was a great news century. The first daily newspaper was The Daily Courant in London, 1702. In 1754, The Daily Advertiser in London uses the first four-column format. France's first daily newspaper appears in 1777, Journal de Paris, while the first United States daily was the Pennsylvania Packet in 1784. In 1878 the first full-page newspaper advertisements appear, and in 1880 the first photographs are seen in newspapers, using halftones. By 2000, newspapers were juggling priorities: fragmentation of news consumption, fragmentation of advertising investments, the advantages and disadvantages of being a mass medium, balancing the wants of the marketplace with the company's duty to provide the needs of the marketplace, a journalistic backlash against industry changes, the sheer physicality of ink-on-paper production and distribution versus digital distribution, increasing profit pressure surrounding the core print product, and extension of the company's core brand into other profit centers.
Today reading newspaper is a habitual activity for educated people all over the world because of the following reasons:1.
current events. On issue of social, political, cultural and technological importance through news, articles & advertisement.
2.
people by providing information regarding medicine, agriculture, history, economics geography, politics & various other such dimensions. 3.
Aims-A Newspaper also aims at protecting the rights of people and creating
awareness among people about their duties and rights. It guards the people interest. 4.
puzzles, comedy & other feature pieces. The newspaper is a unique as it is unlike any other commodity whose life is just like for few hours. It has to be replenished in every 34 hrs.There are two type of consumers of newspaper; one the reader who are actually consumers or use the final product for their intellectual, emotional, cultural and informational needs. The other are advertisers who use space in the pages of newspapers to make announcement, issue public notice, etc.
Today newspaper industry is facing a major threat from broadcast media (TV, radio etc.). Various channels are introduced where one can receive the news of any happening instantly and at any moment, and it is also highly preferred medium of advertisement because of its audio visual qualities. Thus press naturally felt the measure of competition. The newspaper industry reacted very positively to this situation through better printing technology and started publishing colored pages. Thus the get-ups and visuals appeal improved considerably. They also bring out several local editions, offering more focused target audience & consequent cost advantages to advertisement. This changing profile of the newspaper considerably helped the medium in facing the competition emerging from the T.V.
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COMPANY PROFILE
Bhaskar Group A Brief History & Success Story Dainik Bhaskar Jaipur Position Dainik Bhaskar Its Features Organization Structure
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COMPANY PROFILE
VISION MEETS MISSION:Bhaskar Dream- Bhaskar Group has a dream to create a niche for itself in the international media scenario.
Bhaskar Group has its roots in India but its action and thoughts are of the world standard. The groups study the best in the world and implement them as per its local requirement, which would enable it to emerge as strong media group in the future. Its efforts in this direction will not be limited to the newspaper alone, It would march ahead with the times and would reach where its consumer are.
Its group actions and thoughts are based on the following principles:-
1. 2. 3. 4.
Background:
The Rs. 4400 crores Bhaskar Group is a leading news services group in India with a strong presence in the Media Industry, Entertainment, Printing, Textiles, Fast moving consumer good, oils, Solvent and Internet Services. Its Media business includes ownership of Print Media, Radio Stations and TV Channels. The group is the largest read newspaper group of India with a total readership of 2.67 crores, as per NRS 2006. Its flagship Hindi daily newspaper, Dainik Bhaskar, and the Gujarati newspaper, Divya Bhaskar collectively make it the largest read daily newspapers. MY FM has already launched In 12
Jaipur, Chandigarh and Jalandhar and will soon be available in a total of 17 cities , it would be the 4th largest FM station network of the Country. DNA launched jointly with the Zee Group has already achieved the distinction of being Mumbais Second largest English daily. DAINIK BHASKAR is a big name in the print media. Bhaskar Group has a dream to create a niche for itself in the international media scenario.
It efforts in this direction marching ahead with the times and reaching where its consumer are. Bhaskar Group
A 4400 crore media house with 10000 manpower strengths & 160 offices all over India has 6 daily newspaper, 2 stand-alone weeklies & 1 magazine in 10 states of the country. Bhaskar is the largest read newspaper group containing 28% potential of India with Bhaskar markets. The company board consists of:-
Dainik Bhaskar Divya Bhaskar Saurashatra Samachar Prabhat Kiran DNA & DNA Money.
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Magazines: Monthly- Aha! Zindgi!- Hindi&Gujarati& Lakshya (New Magazine) Bi- Monthly- Young Bhaskar, Bal Bhaskar
T.V.: BTV
Activations: DB Aktivations
Radio:Synergy Media Entertainment Ltd (FM Radio) is a wholly owned company of the Bhaskar Group has acquired FM Radio Licenses in 7 states, 17 cities. The stations are operational in Madhya Pradesh: Indore, Bhopal, Gwalior, Jabalpur. Chhattisgarh: Raipur, Bilaspur. Rajasthan: Jaipur, Jodhpur,Udaipur, Kota, Ajmer. Gujarat: Ahmedabad, Surat. Punjab: Jalandhar, Amristsar, Chandigarh. Maharashtra: Nagpur.
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The group uses latest ERP Solution application Product (SAP) to integrate all departments in every edition of newspaper. All centers are interconnected through leased lines and Centrex facility.
Diversification:Beside print media, the group has diversified into: Textiles Oil Extraction & Refining FMGC Cable TV Broadband Family Entertainment Art & Culture Event Promotion & Real Estate Shopping Mall.
In order to raise equity for further expansion, the group is planning to list on the stock exchange and is going for an IPO very soon.
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Further, it launched its edition from Raipur in 1992 followed by Bilaspur in 1993. This was the time when Rameshji officially inducted Shri Sudhir Agarwal and his younger brother Shri Girish Agarwal in the business. Shri Sudhir Agarwal had a passion for editorial & Shri Girish Agarwal preferred to take part into core marketing.
After achieved No. 1 status and strong leadership in 1995 in MP, the group identified RAJASTHAN as a potential market in Dec. 1996, launched its Jaipur edition with net paid sale of 1,72,933 copies on day 1. JAIPUR launch of Dainik Bhaskar created a history in the Newspaper industry, which is now a case study In the top business school of India.
Since 1996 father & sons began transforming the group into a customer centre organization. Keeping this in mind, Dainik Bhaskar launched its Chandigarh edition in mid 2000 adapting Hinglish language pattern in editorial contents. Today it is the No.1 newspaper in Chandigarh, Panchkula & Mohali. Followed by Faridabad edition. In the same year Bhaskar entered Haryana & Captured the spillover market by launching its edition in Panipat & Hissar
After achieving the leadership position in Hindi belts, the group entered into the state of Gujarat a non Hindi Market, where local player were formidable. The group launched its
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Gujarat, newspaper, Divya Bhaskar in Ahmedabad in June 2003 is a Case study with IIM AHMEDABAD for its first day net paid sale of 4, 52,000 lakh copies. After setting many new trends in Hindi & Gujarati market, Bhaskar group in association with Zee, launched Its English newspaper DNA [Daily News & Analysis] in July 2005 with a circulation of 3 lakhs + copies Per day.
In September 2004, the group had also launched a monthly complete Hindi magazine Aha Zindigi for Positive and good life. Today the magazine enjoys circulation of 1.35 lakh copies with 5.95 lakh readers.
Recently on 7th June, 2008 the group successfully launched DNA JAIPUR edition. And on 6th June the group celebrated 3 years completion of its Daily supplement CITY BHASKAR.
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Its main competitior in Jaipur is Rajasthan Patrika. Jaipur office of Dainik Bhaskar has some separate units like My F.M., BTV and Aha Zindagi. It has state of art technology for printing purpose, and Dainik Bhaskar at Jaipur is headed by Mr. Pawan Agarwal.
Before launch of Dainik Bhaskar a survey is conducted to find the taste & performance of the customers. Its design is based on requirements of customers. Its initial customers in Jaipur were 80,000.
campaigns with the help of hoardings at prime locations like theatre, temples, flyovers, malls and also conducted road shows. It used manpower banners at different locations. It has support of Bhaskar T.V.
It distributed gifts, discounts & gave many scheme like subscription, free calendar etc. It also used posters for publicity. It run a 45 day campaign to increase the circulation in which they conducted many events, games, road shows etc. which made its circulation doubled of Rajasthan Patrika.
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Major Suppliers:
M/s Rama Newspaper Nepa Mills Hindustan Ink
Newsprint material is purchased from Delhi & Mumbai. Foreign Newsprint material comes from Mumbai, Surat & Nepanagar.
Major Buyers :
Major buyers of the newspaper are the Jaipurites.
Major Competitors:
Rajasthan has been a state which continued to be an exclusive domain of a particular newspaper. Rajasthan Patrika for the past 50 years. Attempts even by giants like The Times of India to make a dent in this territory proved futile as it failed take off.
Market Share:
subscribe to
In a recent survey conducted it was found that 8 out of 10 readers DAINIK BHASKAR.
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Product Profile:
The product is a Hindi Daily. The news is quality oriented and the coverage is wide enough to cover almost every aspect. Dainik Bhaskar was the first newspaper to come up with the concept of colored front Hindi Daily.
Rasrang:
Its a Sunday supplement. It contains the mix news for every customer.
It is of 4 pages.
SHE Magazine:
It was launched on 8th June 2008 all over India. It is printed at Noida & its matter is from Bhopal. It is magazine targeted towards women customer with 40 No. of pages pricing Rs.5
Aha Zindagi :
In September 2004, the group launched a monthly complete Hindi
Magazine Aha Zindigi for positive & good life. The print office is in Noida. It is of 84 pages & priced Rs.25.
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Lakshy:
It is a career magazine targeting to students mainly. It is monthly magazine of
DNA:
After setting many new trends in Hindi & Gujarati market, Bhaskar group
in association with Zee, launched its English newspaper DNA [Daily News Analysis] in July 2005.
Distribution Channel :
They have ten channels for distribution, 30% to 40% share are given to distributors. Company has its own Taxies for transportation. It has its sales depot. The company has its agents all over Rajasthan.
Source of revenue :
1. 2. 3.
1. 2.
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Departmentalization :
The job functions of the employees in the organization are divided among them & combined in a logical ways. Employees with related functions usually share a common work area and constitute a work unit. Departments are therefore constituted as: Editorial Department Advertising Department Printing & Processing Department H R & Admin Department SMD Department F & A Department
ORGANIZATIONAL STRUCTURE
Dainik Bhaskar has ten units in Rajasthan. Namely Jaipur, Sikar, Alwar, Jodhpur, Udaipur, Kota, Ajmer, Bhilwara, Bikaner, Sriganganagar. It has six vertical departments. Reporting is done in two ways first is Administrating reporting to unit heads & second is functional reporting. So it has mainly functional type of structure. this:Dainik Bhaskar (Jaipur-State Office) The structure is like
Manageme nt
Editorial
Production
SMD
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METHODOLOGY
SAP ERP
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METHODOLOGY
The methodology adopted in Dainik Bhaskar is SAP. What is SAP? SAP R/3 is popular ERP software from the German-based company SAP AG. The acronym of SAP stands for Systems, Applications & Products in data processing R/3 is a Client-Server three-tiered Architecture Base, which is introduced in 1992. The R/3 Systems three-tiered client/server architecture separates the system into areas devoted to database, application functionality, and desktop presentation.
About ERP:
In the era of stiff competition, demanding customers and shrinking margins, it is important for a brand to acquire and retain the best. Being the leading media house, we ensure correct information exchange at every stage and every level in its day- to-day execution.
What is ERP?
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What is ERP?
ERP stands for Enterprise Resource Planning. It is process-oriented information system for identifying and planning the enterprise wide resources needed to take, make, ship and account for customer orders. Enterprise Resource Planning (ERP) systems attempt to integrate several data sources and processes of an organization into a unified system. A typical ERP system will use multiple components of computer software and hardware to achieve the integration. A key ingredient of most ERP systems is the use of a unified database to store data for the various system modules. ERP is package software solution that addresses the enterprise needs of an organization by tightly integrating the various functions of an organization using a process view of the organization. It is package software and not custom made software for a specific firm. It understands the needs of any organization within a specific industry segment. Many of the processes implemented in an ERP software are core processes such as order processing, order fulfillment, shipping, invoicing, BOM processing, purchase order processing, preparation of Balance Sheet, Profit and Loss statement etc., that are common to all industry segments. That is the reason why the package software solution
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works so well. The firm specific needs are met through a process of customization. ERP addresses not merely the needs of a single function such as finance, marketing, production or HR. Rather it addresses the entire needs of an enterprise that cuts across these functions to meaningfully execute any of the core processes. ERP integrates the functional modules tightly. It is not merely the import and export of data across the functional modules. The integration ensures that the logic of a process that cuts across the function is captured genuinely. This in turn implies that data once entered in any of the functional modules (whichever of the module owns the data) is made available to every other module that needs this data. This leads to significant improvements by way of improved consistency and integrity of data. ERP users the process view of the organization in the place of function view which dominated the enterprise software before the advent of ERP. The process view provides a much better insight into the organizational systems and procedures and also breaks the "kingdoms" that work at cross-purposes in many organizations. To implement such a demanding software one needs high performance computing, high availability systems, large, high speed high availability on line storage and high speed, high reliable net works, all at affordable cost. Though many ERP software vendors have been around for more than two decades, ERP software started to make major inroads into the corporate world only in the last couple of years. Interestingly Indian corporate houses are taking the ERP route exceptionally fast, even by world standards in the past two years. Thus, it is an industry term for integrated, multi-module application software packages that are designed to serve and support multiple business functions. It attempts to integrate all departments and functions across a company to create a single software program that runs on one database. ERP modules may be able to interface with an organizations own software with varying degrees of effort, and depending on the software ERP modules may be alterable via the vendors proprietary tools as well as proprietary or standard programming languages.
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3. 4.
Integrate and optimize business processes. It will avoid the interaction among the people, which might leave chaos or
misunderstanding. 5. 6. 7. need 8. 9. 10. 11. To reduce the throughput cycle (Gap between demand and supply) Well-controlled and balanced financial management Single source for your financial information Capturing your business transactions in one location allows you to easily Management can have each information at their fingertips. SAP System
provides up-to-the-minute, real-time information wherever and whenever you need it Increase productivity at desired level Optimum and effective utilization of available resources to respond market
review inventory, customer and vendor activity 12. On the technical side, a solution on a single platform will enable easier
maintenance and support, reducing costs. 13. 14. Having a consolidated system means fewer interfaces to support By having a single system of record your human resources will become familiar
with terminology associated with this data and the standard processes. 15. This may improve communication and create a work force that is easier to
transfer between roles 16. Improve alignment of strategies and operations by running the enterprise in
accordance with strategy and plans, accessing the right information in real time to identify concerns early. 17. 18. 19. Improve productivity and insight Find the best people and leverage their talent in the right job at the right time. Achieve corporate objectives by aligning workforce and organizational
objectives. 20. 21. Leverage self-services and analytics across your organization. Improve operational efficiency and productivity within and beyond your
enterprise. 22. Give employees new ways to access the enterprise information required for
1.1 Cost center : Cost center is an organization unit, which captures actual and planned (Budgeted) costs. In DBCA we have defined cost centers on the basis of center and products. Example: Bhopal Dainik Bhaskar Production Bhopal Dainik Bhaskar Editorial Jaipur Dainik Bhaskar Production Jaipur Dainik Bhaskar Marketing Etc.
2.1 Internal Order : Internal order is also an organization unit which captures actual & planned cost. Internal order capture can capture sales revenue also where as cost center can capture only Cost. 3.1 Profit Center : Profit Center is also an organizational unit, which displays Revenue, Cost & Profit. In PCA, we can have certain balance sheet values also. In DBCA we have defined profit center based on Center & Product. Example:Bhopal Dainik Bhaskar Bhopal City Bhaskar Jaipur Dainik Bhaskar Jaipur City Bhaskar Bhopal Aha Zindgi 28
Jaipur Madhurima, likewise. Cost centers and profit centers are codified so that the digits indicates center and product for example P100100 P=Profit Center first 3 digits that is 100 indicates Bhopal Center, next 100 indicates Dainik Bhaskar(Product) P200100 p=Profit Center first 3 digits that is 200 indicates Jaipur Center, next 100 indicates Dainik Bhaskar (Product) All profit center codes will begin with P and all cost center values will begin with C All the above objects are grouped to facilitate MIS reporting.
1.1.02 Cost Center Reporting : In cost center reporting we have actual plan variance reports for a cost center & group of cost centers. The report can be had both for the month & YTD basis. The menu path & Transaction codes as follows: Menu Path: Sap Easy > Information System > Controlling > Report for Cost Center Accounting > Plan/Actual > S_ALR_87013611
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BUDGET
Budgeting Important Heads comes under Monthly & Annual Report of Dainik Bhaskar Calculation of Individual Heads
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BUDGET
A budget is defined as a comprehensive and coordinated plan, expressed in financial terms, for the operations and resources of an enterprise for some specified period in the future. A budget is a money plan. With it, you can organize and control your financial resources, set and realize goals, and decide in advance how your money will work for you. A budget can be as simple as it is powerful. The basic idea behind budgeting is to save money up front for both known and unknown expenses.
Budgeting:
Budgeting or profit planning is a detailed plan of action during a period of one year, onemonth or less.
Introduction:
Profit plan (Or Budget) is a short term financial plan. It is an action plan to guide managers in achieving the objective of the firm. Thus a profit plan is a comprehensive and co-ordinate plan, expressed in financial terms, for the operations and resources of an enterprise for some specific period in the future.
so that they are understood, supported and implemented. 3. To provide a detailed plan of action for reducing uncertainty and for the proper
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Types of Budgets:
1. 2. 3. 4. 5. Operating Budgets Financial Budgets Special Decision Budgets Fixed / Static Budgets Flexible / Variable / Sliding Budgets
Elements:
1. 2. 3. 4. It is comprehensive and co-ordinate plan. It is expressed in financial terms. It is a plan for the firms operation & resources. It is a future plan for a specific period.
Control: A budget is the key to enabling you to take charge of your finances. With a
budget, you have the tools to decide exactly what is going to happen to your hard-earned moneyand when. You can be in control of your money, instead of having your money limit what you do. This bears repeating: you can be in control of your money, instead of letting it control you.
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Organization: Even in its simplest form, a budget divides funds into categories of
expenditures and savings. Beyond that, however, budgets can provide further organization by automatically providing records of all your monetary transactions. They can also provide the foundation for a simple filing system to organize bills, receipts, and financial statements.
Communication: If you are married, have a family, or share money with anyone,
having a budget that you both (or all) create together is a key to resolving personal differences about money handling. The budget is a communication tool to discuss the priorities for where your money should be spent, as well as enabling all involved parties to "run" the system.
Extra Time: All your financial transactions are automatically organized for tax time, for
creditor questions, in fact, for any query which may come up regarding how and when you spent money. Being armed with such information sure saves time digging through old records.
Extra Money: This might well be everyone's favorite benefit. A budget will almost
certainly produce extra money for you to do with as you wish. Hidden fees and lost interest paid to outsiders can be eliminated forever. Unnecessary expenditures, once identified, can be stripped out. Savings, even small ones, can be accumulated and made to work for you.
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Circulation
Job Work
Advertisement
Events/ DB AKTIVATION
Operating Expenditure
Capital Expenditure
Financing
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August onwards all accounts will be controlled by SAP (Finance, marketing, H.R. or I.T.) Monthly Circulation is controlled by SAP. Consolidated entries on monthly are made in financial books in respect of
circulation & advertisement. Others transaction are recorded directed in tally. Balance sheet is prepared for each main center on monthly basis. Analysis is made on each activity level. Analysis is made at product level also. Consolidation is made at regional level & H.O. level.
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180 days and above. We keep material quality wise separately i.e. Imported SNP, Imported GNP,
Rama Type, Indian A Type, Indian B Type and others (LWC, Art papers, ABC Gold, etc..) We keep damaged material and material rejected, by production manager
separately centers informed to the H.O. and material will be disposed as per the norms of the company. We take fire floater insurance policy for fire, earthquake flood etc. we file
monthly declarations to insurance company and revise our policy from time to time to maintain the coverage of Godown stocks. We take daily stock position and daily consumption report from all publishing
centers and supplements printing centers. We maintain group coverage Indian newsprint stock level for 10 days
depending upon the distance from centers from the mill, stock level of centers may vary make wise. planning. Daily stock report copy is sent to H.O. Bhopal for groups compel- nation
production process. There are four types of wastage, i.e. print wastage layer, core (bhongla),
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Important Heads comes under Monthly & Annual Report of Dainik Bhaskar
OPERATING EXPENSES
A. PRODUCTION EXPENSES PRODUCTION MATERIALS Ink Consumed Plate consumed LPF consumed Tracing paper consumed Fountain Solution Other prod. Material Packing Material Cons.: Polythenes Packing Material Cons.: Others Printer Toners cons. - prod. OTHER PRODUCTION MATERIAL Electricity Consumption D.G. Fuel MACHINE MAINTENANCE D.G. Maintenance Multi Wash / Nova Wash Dhotis Blankets Rubber Roller Maintenance Repair & Maintenance P. & M.
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1.
1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2 2.1 2.2 3 3.1 3.2 3.3 3.4 3.5
3.6
3.7 3.8
A.M.C. - Plant & machinery Repair & Maintenance - Electric LOADING UNLOADING & FREIGHT
BINDING CHARGES
B.
NEWS EXPENSES
1.
1.1
2.
2.1
2.2
C.
PERSONNEL COST
SALARY (REF.) Salary Budget Gross Salary EPF (Employee Providend Fund) ESI Mobile Expenses (Fix & Actual Basis) Vehicle Fuel Maintenance & Insurance Annual Benefits
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1.7 1.8
2
2.1 2.2
STAFF WELFARE EXPENSES Canteen & Pantry Expenses Medical Expenses (Other than Mediclaim) Mediclaim Policys Premium Pooja Expenses Marriage Gift
3.
Gratuity
Leave Encashment
OFFICE & ADMINISTRATION EXPENSES Main Office/ Press Rent Godown Rent Postage & Courier Telephone: Landline Internet Expenses Printing & Stationary Photocopy Expenses Traveling Expenses Conveyance Other than salary
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Guest House Expenses Security Expenses House keeping Expenses Gardening Expenses Water Expenses Repair & Maintenance (Building) Repairs & Maintenance Office Equipment & Others Repairs & MaintenanceComputer & UPS Annual Maint. Contracts (AMC) Computer & UPS Legal & Professional Fees Legal & Professional Expenses
1.17
1.18
1.19 1.20
E.
1.1
1.2
F. 1
G.
H. 1.1 1.2
saw in newspaper are result of ink. Ink provides colour to pages and also the news is printed with the help of ink. The requirement of ink in printing depends upon the following things:1. 2. 3. 4. Print Order (P.O.) Pagination (No. of Pages) Days Ink Mileage
There are four types of ink used in print media, these are: Black Magenta Cyan Yellow
These four types of ink are used to from multi colours in newspaper quantity of ink used are calculated with the help of following formulae:-
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General Calculation:
Ink A newspaper is a combination of both black and while and coloured pages. The numbers of pages are calculated with the help of following formula: For Total Pages = Total Print Order * No. of Pagination * Days For Coloured Pages = Total Print Order * No. of Coloured Pages * Days Ink Consumed = Total Number of Pages / Mileage * Rate of Ink Black Ink = Total Number of Pages / Black Mileage * Rate of Black Ink Cyan Ink = Colour Pages / Colour Mileage (Cyan) * Rate of Colour Ink Magenta Ink = Colour Pages / Colour Mileage (Magenta) * Rate of Colour Ink Yellow Ink = Colour Pages / Colour Mileage (Yellow) * Rate of colour
Ink Calculation- For 15 Pages and 80000 Copies 10 Colour + 5 Black & White Days = 30 No. of Black & White Pages = 15 * 30 * 80000 = 36000000 No of Colour Pages = 10 * 30 * 80000 = 24000000
Cost = 2000 * Rs. 50 = Rs. 100000 Yellow Ink = 24000000 / 25000 = 960 Kg
Cost = 960 * Rs. 150 = Rs. 144000 Cyan Ink = 24000000 / 40000 = 600 Kg
Cost = 600 * Rs. 150 = Rs. 90000 Magenta Ink = 21000000 / 35000 = 686 kg
Cost = 686 * Rs. 150 = Rs. 102900 Budget for All Types of InkBlack = Rs. 100000 Yellow = Rs. 144000
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Cyan = Rs 90000
Plates- Plates are very important in print media. Plates are used for seeing impression
of printing material before actual printing is done: Plates Required in the Printing Machine: MachinesPagesPlates4 5 4Hi 2+2 4 3C 2+2 4 3C 2 2 Mono 1 0.5 Mono
Calculation of Number of Plates Required in Month is as Follows: Basically 2 colour page require 4 plates, Let us suppose that a newspaper contains 15 pages i.e., 15 printed pages,
then the number of plates required is as follows: 4 Plates 4 Plates 4 Plates 4 Plates 4 Plates 1 Plate 1 Plate 1 Plate 0.5 Plate 2 Coloured Pages 2 Coloured Pages 2 Coloured Pages 2 Coloured Pages 2 Coloured Pages 2 Black & White Pages 2 Black & White Pages 2 Black & White Pages 1 Black & White Page
Total Required Plates = 22.5 Rate of One Plate = Rs. 100 Requirement per Month = 22.5 * 30 =675 Plates Budget for Month - 675 * 100 = 67500
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LPF- LPF is a butter paper which is used in colour pages. It is used for printing coloured
impressions on the plate. Per Page per Colour = 2 LPF 1 Plate Requires = 4 LPF
LPF Required in the Printing Machine: MachinesPagesPlatesLPF 4 5 20 52 LPF are requires for 1 Day For 1 Month LPF Required = 52 * 30 = 1560 LPF per Month 4Hi 2+2 4 16 3C 2+2 4 16 3C
1 Packet of LPF Contains = 100 LPF Sheets Cost Of 1 Packet = Rs. 600
Tracing- Tracing is used for printing black and white impressions on the plate.
Tracing Sheet Required in the Printing Machines: MachinesPagesTracing Sheet 2 4 Mono 1 2 Mono
Tracing Sheet required per month:- 6 * 30 = 180 1 Packet contains 250 Tracing Sheets and cost of each packet is Rs. 700
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Fountain Solution-
printing. Fountain Solution improves hardness of water, improves mileage of ink colours. This chemical is required in liters. Suppose 80000 copies of newspaper have to be printed. On an average number of pages in a newspaper are 15. Therefore, Total Pages to be printed 80000 * 15 = 1200000 Pages Now, Fountain Solution required per day is calculated as below:Water Tank Capacity = 200 Litres Water required per day = 150 Litres Requirement of solution = 1.5% of Water tank capacity Therefore, 1.5% of 150 Liters = 2.25 Liters Rate pf solution per Liter = Rs. 35 Cost of Solution required per day = 35 * 2.25 = Rs 78.75 or Rs. 79 Requirement of Solution in a month = 2.25 * 30 = 67.5 Liters Budget for Month 67.5 * 35 = Rs. 2362.50
packing of newspaper in rainy season. There is a gear of spoilage of finished goods i.e., newspaper (as it is finished goods for the print media).For prevention of spoilage of newspaper packing material is used. As a precaution packing material is also used in other seasons also. For making budget of packing material the calculation shown below is used:Let average page order = 80000 1 Bundle contains= 150 Polythene Therefore, No of bundle used per day=Average Page Order / Copy in 1 Bundle 80000 / 150 = 533 Bundles per Day No. of Polythene Bag per Kg. is 35
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Therefore, Polythene required per Day in Kg is = No of Bundles per Day / No. of Polybags 533 / 35 = 15.2 Publishing Days in Month 30 Days Therefore Total requirement in the month = 30*15.2 = 456 Kg Rate of Polythene per Kg = Rs. 100 Therefore, Budget for Month- 456 * 100 = 45600
packing of newspaper. Other packing material like Strip Role is used for binding the
Suppose that print order = 80000 Copies No. of strips in Bundle = 200 Total No. of Bundle = 80000/200 = 400 1 Strip contains = 2.00 Meter Strip Per day requirement = 400 * 2 = 800 Meter Requirement for a month- 800 * 30 = 24000 Meter 1 roll contain 2000 meter strip Total strip in month = 24000 / 2000 = 12 Roll Rate = Rs. 350 Budget for month- Rs.350 * 12 = Rs 4200
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2.1
Electricity Consumption-
organization but also in our life. The budget of electricity is prepared or based on annual consumption basis or on trend basis. Besides this we have to keep certain things that are Billing Demand which we have to maintain less than 20% to 30% on contract demand. This is because if billing demand is higher from the contract demand than electric board charge power factor which increase the electricity consumption. Electricity Bill of Dainik Bhaskar is given below:
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DAINIK BHASKAR Electricity Bill MONTH PARTICULARS Contract Demand Billing Demand Gross Consumption Rate per KWH Energy Charges Billing Demand Fixed Charges Rate [Per KVA] Fixed Charges Sub Total Power Factor & Other Adjustments Electricity Duty Rate [Per KWH] Electricity Duty Total Bill Rs. April'09 UNIT KVA KVA KWH Rs. Rs. KVA Rs. Rs. A B C=AXB D E F=DxE G=C+F H I J=A X I K=G+H+J
2.2
that much fuel we require. Its requirement is calculated in the followings ways:1 D G is of 325kva It consumed 20-25ltr in 1Hour. If we have power cut of 15 days then, DG running timing in a month for 15hrs is as follows:-
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In 1hour, 25 ltr fuel is consumed. In 15hour diesel consumed per liter- 15x25 = 375 liter Rate of 1 liter diesel = Rs. 35 Budget for Month- 375 Liter xRs.35 = Rs. 13125per month.
3 3.1
is essential task so that we can always have electricity supply even in the case of power cut. Therefore its budget is prepared on annual contract basis.
Let us take an example for making Monthly Budget for requirement and cost of Multiwash. Suppose 10 Liters of Multiwash is used per day. Therefore, Multiwash required per month- 10 * 30 = 300 Liters Cost of Multiwash per liter = Rs. 40 Budget for Month- 300 * 40 = Rs. 12000
Blanket-
Blanket is made of rubber and is used for supporting the plate. 1 Blanket
gives 65 Lakhs impression pages. Thickness of Blanket is 8-10mm 1 Blanket Cost = Rs. 2500 Per Piece Master Blanket Cost = Rs. 5000 Per Piece In the Machine: MachinesBlanket8 4Hi 5 3C 5 3C 2 Mono 2 Mono
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Dhotis- Dhotis are used for cleaning purpose in machines like 4HI, 3C, Mono, etc.
In the Machine: MachinesBlanket8 4Hi 5 25 3C 5 25 3C 2 8 Mono 2 8 Mono
Estimation: 1 Blanket requires 5 Dhotis in 4Hi and 3C, and 4 Dhotis in Mono. Per day requirement = 106 Per Month Dhotis Required = 106 * 30 = 3180 Dhotis per Day Rate per Dhoti = 2.25 Budget for Month 3180 * 2.25 = Rs. 7155
3.2
Machinery once installed remains until the life of the plant and machinery. In this long period of time plant and machinery require maintenance like repairs of small wear ad tear, any technical problem, etc. Budget for Month- On Actual Average Basis
Unloading comes under this head. We need Loading and Unloading when we keep material in stores and also when we have to supply printed or other material at different sources. The budget for such expenses is based on actual average. Budget for Month- On Actual Average Basis
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BINDING CHARGES-
completed then we have to count the printed material. After that we have to bind the newspapers and magazines to make them in proper form to sell. For these purposes we require binders to count and bind the printed material. Binding work is given on contract basis. They are also paid by vouchers or on fix basis. Budget for Month- On Calculation & Contract Basis.
A.
1 1.1
NEWS EXPENSES
AGENCY PAYMENT: PTI- As we all know that PTI stands for Press Trust of India which is a news
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Core Services Cost Rs. 365 per 1000 Copies. And; Full Services Cost Rs 540 per 1000 Copies. It has circulation base filling, If our circulation is 80000 copies then PTI can claim amount average core service tax i.e, we have to pay= 80000 / 1000= 80 80 * 365 = Rs. 29200 Budget for Month- On Actual Average / Calculation Basis
2 2.1
NEWS EXPENSES - NEWSPAPER: Payments for PhotographPhotographs are very useful for
Newspaper Company as it supports the written articles published in the newspaper. Such photographs are made available to company by photographers. Photographers when appointed on payroll are liable for receiving salary and other benefits, but many companies hire photographers on contract basis, Such photographers are gives Rs. 30 per published photograph irrespective of the number of photographs he have. Budget for Month- On Actual Average Basis
2.2
not a childs play. The scope of newspaper printing is very wide. For getting news from various areas company appoints agents and correspondents of that place. The agents and correspondents provide news to the company. The agents and correspondents are paid Rs. 2.50 per centimeter column.
B.
PERSONAL COST
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1. 1.1
SALARY: Gross Salary- Gross Salary is 55-60% of basic salary (Excluding and
40% of basic Salary is HRA i.e., house rent allowance 25% for Conveyance or Rs. 800 whichever is minimum. Rest for other allowances
Medical (Rs. 1250 Maximum), Education Allowance (Rs. 200 Maximum), Performance Allowance, Other Allowances. Now comes CTC i.e., Cost to Company which includes Bonus, Medical, Transportation, FBT (Fringe Benefit Tax), Gratuity. Budget for Month- On Fixed Monthly Basis
1.2
employee on basic salary And Basic D.A. (Dearness Allowance) is 25.61 % 12% share comprises of 8.33% for pension fund and 3.67% for providend fund. EDCI- Employee Dealing Insurance = 50% Administration Charges = 1.11% Total = 51.11%
Forms used in EPF: Form No. 2:- Nomination form (Declaration of Nominee for P.F. and Pension) Form No.5:- New joining declaration during the month submitted by company Department. Form No. 10:- Submitted to company (Details of the employee left in the month). Form No. 12:- Monthly return (Details of form no. 5,10 deposits of challans). Form No. 13:- Transfer of P.F. Amount to other P.F. Company Account. Budget for Month- On Calculation Basis to P.F.
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1.3
ESI-
employees. For deduction of ESI maximum limit for gross salary is Rs. 10000 How ESI is deducted ESI is deducted 1.75% employee share on higher side. And 4.75% of employees share on higher side Total ESI deducted is 1.75% + 4.75% =6.50%
ESI is applied only on government declared area. Budget for Month- On Calculation Basis
1.4
given to the employees for doing business conversation on mobile phones. Mobile expenses are given on fix and actual basis both. On fix basis employees are given a fix amount for their mobile expenses, and on actual basis mobile expenses are paid on reimbursement basis. Budget for Month- On Actual Average or Fixed Basis
1.5
Vehicle fuel,
maintenance and installation expenses are given to employees to commute place to place for business purposes. Budget for these expenses are made on actual average basis. Budget for Month- On Actual Average Basis
1.6
year and budget for such expense is made up on actual average basis. Budget for Month- On Actual Average Basis
1.7
head salary bonus is given to employee on some special occasion like diwali festival.
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Such bonus is given on 10% of basic salary of the employees. The budgets for such expenses are made on actual average basis. Budget for Month- On Actual Average Basis
1.8
work extra hours then their normal working hours, such extra hours are known as overtime. Overtime payments are given to the employees of production department. Budget for such payments are made on actual average basis. Budget for Month- On Actual Average Basis
2.
2.1 Canteen and Pantry Expenses- Canteen and Pantry expenses incurred
when employees are paid for their refreshment at workplace. Employer is issued coupons for employees of a fix amount of their refreshment in the office canteen. Budget for Month- On Actual Average Basis
2.2
Medical
Expenses incurred when there are certain medical checkup camps and first aid provided to employees Budget for Month- On Actual Average Basis
2.3
.
depends on grades.
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M1
No. of Coverdness- Self, Spouse and two children. Budget for Month- On Actual Average Basis
2.4
Pooja Expenses-
which is situated in the office campus. Priests are paid for maintenance o the temple and performing worship on various festivals. Budget for such expenses are made on actual average basis. Budget for Month- On Actual Average Basis
2.5
Marriage Gift-
family. The following amount for marriage within their immediate family are as follow:
3100 5100
3. 3.1
OTHER SALARY PAYMAENTS: Gratuity- Gratuity is paid according to Factory Act 1948
Condition It is applicable on minimum 5 Years completion of job. Formula for calculation Gratuity: Gratuity from basic = Basic Salary *15 * No. of Working Year / 26
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Example Ram Employees Basic Salary is Rs. 8000. He joind the organization in 1996 and he leave organization in March 2005 Calculate Amount of Gratuity Solution- Basic Salary = Rs. 8000 No. of Working Years = 9 Years Gratuity = 8000 * 15 * 9 / 26 = Rs. 41538 Budget for Month- On Calculation Basis
3.2
Leave Encashment-
Formula for Calculation is as under:Basic Salary * No. of Paid Leave (Maximum) /30 Example- Ram employees basic salary is Rs. 8000. The Maximum paid leave is 5 Days. Calculate leave encashment Solution- Basic Salary * No. of paid leave (Maximum) / 30 8000*5 / 30 = Rs. 1600
Types of Leave:-
1.
Casual Leave (CL)Casual leave cannot be availed for more than 3 days at a stretch. Casual leave cannot be calculated on annual basis and shall automatically laps
1.
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Medical leave cannot be encashed. Medical leave availed in excess of entitled / accumulated leave can be adjusted
against PL. Those employees covered under ESI / Factories act and therein would not be
covered under this scheme. A medical certificate from an authorized medical practitioner would be required to
2.
Privilege Leave (PL)Privilege Leave can be combined with medical leave but no with casual leave. Privilege leave may be encashed not exceeding 12 days in a year (Only for M
grade Employees). Encashment would be affected on the basis of basic salary only. Type of Entitlement for the Year Accumulation Level Encashment Numbers (Annual) Leave Casual Medical Privilege 9 12 21 No Accumulative 36 Days 54 Days No No 12
3.
employees. These are treated as leave with pay and are in addition to the normal leaves available:
C.
1.1
assembled in same place or a re connected with each other. For efficient working
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company hires office building. A company has to ay rent for hiring building. The rent is paid on agreement basis. Such agreement is done on market rate. Budget for Month- On Agreement Basis
1.2
Godown Rent-
Godown is an essential part of every organization For Godown we have to paid rent & this rent is on
especially where we have to purchase the material. These purchased material we have to keep in stock in Godown. agreement basic according to market rate. Budget for Month- On Agreement Basis
1.3
another place.
courier services are paid as per contract basis or as per document basis Budget for Month- On Actual or Agreement Basis
1.4
Telephone-
we require telephone in a huge amount so that every members of company remains in touch with each other. The budgeting of this is based on actual average trend basis. If a company has 5 telephones connection lines than for budgeting purpose we see past trend of all the connection lines. Budget for Month- On Actual Average Basis
1.5
Internet Expenses-
communication. Organization which has large number of branches in all over India for them Internet is the effective mode. The internet connection is taken on plan basis. Internet is used for data transfer & exchange from the main office to the bureau office and it also used for global information. Budget for Month- On Actual Average Basis
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1.6
registers, alpines, calculator, are required as well as printing material like office receipts, bills, files are also required. The budgeting of these expenses is as per trend basic or as per requirement basis. Budget for Month- On Actual Average Basis
1.7
type of office document. These expenses are paid as per agreement or as per copy. Budget for Month- On Actual Average Basis
1.8
Traveling Expenses-
than his traveling expenses reimbursed by company as per norms & conditions after making audit of Traveling expenses bills. The budgeting of these expenses is based as per actual basis and policy basis. Budget for Month- On Actual Average Basis
1.9
Conveyance-
then company paid Rs. 2.50 per km. or as per policy. Budget for Month- On Actual Average Basis
1.10
stays in the guest house. Guest house includes salary of care taker, rent of guest house, food expenses and electricity exp. The budgeting of these expenses is based on actual basis or on calculation basis. Budget for Month- On Actual Average Basis
1.11
Security Expenses-
who are responsible for safety of vehicles; keeping records of persons enter in the office
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building. How many guards we appoint is depend on our requirement & its budgeting is made on agreement basis. Budget for Month- On Agreement/Contract Basis
1.12
Housekeeping Expenses-
life. When we work in clean environment we can work efficiently & effectively as per saying Healthy mind in Healthy body we require clean environment. For cleaning purpose company appoints sweepers. The budgeting of these expenses is on agreement basis. Budget for Month- On Agreement/Contract Basis
1.13
Gardening Expenses-
plantation or form garden. The maintenance of garden contains certain expenses like salary of gardener, purchasing cost of plants, manure, fertilizers etc. Its budgeting is based on actual expenses incurred. Budget for Month- On Actual Average Basis
1.14
Water Expenses-
paid as per PWD rate but if we are water from outside agency is paid as per their fixed rate basis. Budget for Month- On Consumption / Fixed Rate Basis
1.15
in case of building is whitewash, paint, floor furnishing, etc. Budgeting of this expense is done on actual average bases. Budget for Month- On Actual Average Basis
1.16
Computer is an
electronic device which performs various task to enable its user to achieve his objective or to complete work efficiently and effectively, In case of computer maintenance is done
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in the form of changing or enhancing RAM, upgrading antivirus software to protect the various files in the computer. The budgeting of such expense is done on actual average basis. Budget for Month- On Actual Average Basis
1.17
Various office equipments like Fax Machine, Xerox Machine, Telephone, A.C., Cooler, etc. are those which require proper maintenance otherwise it changes work into tedious task. Budgeting of some expenses are done on actual average basis. Budget for Month- On Actual Average Basis
1.18
high equipments are involved like UPS, printers, etc. If we not maintain this equipment it affects our working. Therefore we have to maintain this. The budget of these expenses is on agreement basis. Budget for Month- On Contract / Agreement Basis
1.19
known as legal or professional fees. It budgeting is on fixed or case to case basis. Budget for Month- On Fixed / Actual Average Basis
1.20
regarding the case like stamp duty is known as legal & professional expenses. budgeting is on fixed or case to case basis. Budget for Month- On Actual Average Basis
D.
SMD EXPENSES:
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1.1
circulation of newspaper is done by means of jeep. Bhaskar owns some jeep and it has to hire some jeeps for circulation purpose. Budget for such expenses are made on the basis of actual average/Contract basis. Budget for Month- On Actual Average / Contract Basis
1.2
basis.
newspaper for which rent is paid. Budget for such expenses are made on the agreement
E.
1.1
BUSINESS PROMOTION:
Advertisement & PublicityExpenses incurred on advertisement
and publicity of newspaper is covered under this head. Budget for such expenses are made on actual average basis. Budget for Month- On Actual Average Basis
1.2
Barter Expenses-
exchange of goods and services, the goods and services are not exchange with money. Suppose an LCD is purchased from Sony then rather paying them that amount in money, we issue advertisements for Sony of particular cost. But barter system is not in practice now-a-days. Budget for Month- On Actual Average Basis
F.
managing so
many activities from a single office is not a childs play. Therefore, many bureau offices are opened to manage and perform some activities there. The expense incurred on such
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offices comes under city and bureau expenses. The budgets for such expenses are made on the basis of actual average basis.
Graphical Presentations
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50,000,000 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 35,036,000 35050667 Actual 40,049,000 40,412,320 Budget 45,255,370
April month
May month
INTERPRETATION:Advertisement collection is a main source of generate the income from the market, thus on the basis of average ratio and comparison of actual and budgeted amount of previous month the growth rate of Advertisement collection is around 12.5% thus the projected amount of collection could be 45,255,370.
2500000
2000000
500000
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INTERPRETATION:SMD Expenses are fixed in nature as per the previous two months trends are showing, and their Budgeted and Actual Amount also very closed to each other so the next month budget is also keep the same trend value of 921150.
2500000
2000000
500000
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INTERPRETATION:In the month of April & May the BUDGETED amount of BUSINESS & MARKETING PROMOTION was 2235580. While the Actual expenses was quite lesser than the Budgeted amount thus on the basis of two months budget & actual Expenses & also in the June month company is not going to launch any big promotion strategy thus in the month of June the projected budgeted amount could be much lesser than previous budget (20, 45,000).
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90000 88000 86000 84000 82000 80000 78000 76000 74000 APRIL MAY Projected JUNE Month Budget Actual
INTERPRETATION:CITY & BUREAU Expenses are quite STATIC in nature. Because there is no scope of advancement in this area. Thus the Projected budgeted amount of June month in this head will remain the same (88000).
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20000000 18000000 16000000 14000000 12000000 10000000 8000000 6000000 4000000 2000000 0 APRIL MAY Projected JUNE Month
Budget Actual
INTERPRETATION:In the month of June Company is not going to launch any new Scheme in the market thus on basis of previous schemes and ratios the next month projected center transfer amount could be around 14,750,000.
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50000000 45000000 40000000 35000000 30000000 25000000 20000000 15000000 10000000 5000000 0 APRIL MAY PROJECTED JUNE MONTH BUDGET ACTUAL
INTERPRETATION:-
On the basis of whole actual & budgeted expenses review it has been clearly seen that there is a lot of difference between companys actual & budgeted expenses.
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CONCLUSION
The newspaper is unique product as it is unlike any other commodity whose life is just like for few hours. It has to be replenished in every 24hours. The structure of the Indian print media industry is highly fragmented with importance to regional dominance. In our training we come to know that the sources of income for newspaper companies are only advertisement. There are so many expenses which incur right from manufacturing of newspaper to convert it into finished product and providing it place utility i.e., making available the product to their final consumer at the place where they require the product. The expenses are categorized into two categories: Consumption Based Expenses Budgeted Expenses
The budgeting for both expenses are done differently. In my training I am also understand the methodology of Dainik Bhaskar which is SAP. SAP stands for System Application Product, which enables the organization to effectively and efficiently utilize the resources of the organization. Our project shows the importance of budget in any organization, as it provide a forecast of revenues and expenditure i.e., construct a model of how our business might perform financially speaking if certain strategies events and plans are carried out. It also provides a financial framework for the decision making process.
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Year basis. 5. Per year 30 lacs. Rs. Spent as Godown rent is a huge amount. Thus Bhaskar, Jaipur can cut down its cost through buying a Godown for storing its materials. 6. Per year 40 lacs. Rs. Spent as a Binding Charges Which is a huge Amount for the company thus if company set up its own Binding Machine for its purpose they can Save a lot of money for it. 7. In other Expenses head company should look at their attention Because this head really make a big difference between actual & Company budgeted amount level. 8. 9. Company also should check their liquidity position. Top management level should try to start the ABC or XYZ analysis method to
maintain their stock level. Because during the project I come to know that because of FIFO method it has been seen that material which comes last is going to wasted and sold as wastage. Thus company top level management should look at the store management. INVENTORY MANAGEMENT is a great concern for the DAINIK BHASKAR
specially stores & Spares. The purchase manager should take certain steps for procurement of material. Keep stock level as low as possible, consistent not without running out of stock
and not ordering stock in a small uneconomically quantity. JUST IN STOCK Management is fine, as long as it is JIT and never fails to deliver on time. JUST IN TIME management process could beneficial for the firm if company
maintain this process they can avoid the wastage of material quite effectively.
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BIBLIOGRAPHY
Books
1. Sharma R.K. and Sashi K. Gupta, Text Book of Management Accounting, Kalyani Publishers, New Delhi, 1998. 2.Jain S.P. and Narang K.L., Advanced Cost and Management Accounting, Kalyani Publishers, New Delhi, 1999. 3.Srivastav R.M., Essentials of Business Finance, Himalaya Publishing House, Bangalore, 1998. 4. Raman B.S., Financial Management, United Publisher, Mangalore, 2001.
Websites
1. 2. 3. 4. www.Bhaskar.com www.google.com www.wikipedia.com www.newspaperindustry.com
Others
1. 2. 3. 4. Dainik Bhaskar monthly Review report. Monthly Variance report of Dainik Bhaskar Annual Financial Report Annual Report of Market share of Bhaskar group Corporation.
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