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M/s A B Sugars Limited (ABSL) is a private sector company with varied business interest including sugar, ABSL, formerly known as Guru Teg Bahadur Sugar ltd, It was taken over by Chadda Group in the year 1997, operates the sugar plant in village Randhawa in Dasuya Tehsil in Hoshiarpur District in Punjab, The capacity of Sugar Plant is 7000 TCD, It is from those few Sugar mills who have ushered in the new technologies in business such as installation of DCS (SCADA) system for mill.
Due to emphasis on the quality throughout the process, it produce high quality of sugar both in terms of grain size and color which leads to better realization in comparison to competitors, It have installed high pressure and efficient boiler and turbine to generate power to the tune of 33MW,excess power about 20MW is exported to Grid and sold to Punjab State Electricity Board. Company have bio composting process in its Distillary.In bio-composting process windows are prepared from press mud which is available from sugar unit.
set.
To highlight the key areas where actions needs to be taken. To learn and understand the budget forecast, activity planning, preparation of budget, monitoring and
controlling of budget, To ensure availability of adequate working capital for efficient operation of plants,
1. 2. 3.
4.
5. 6.
Budget Manual,
Budget Period, Standard of Activity or Output.
(a)
Long term
(b) Short
(c)
term
(g) Purchase
economic resources among alternative uses.The necessity of budgeting arises out of the scarcity of
To prevent wastes.
No system of planning can be successful without having an effective and efficient system of control. Budgeting is closely connected with control. The exercise of control in the organization with the help of budget is known as budgetary control.
organization. Executive responsibility in order to perform the specific tasks so that objectives of the company may be attained, Continues comparison of the actual performance with that of the budget and placing the responsibility of executives for failure to
achieve the desired result a given in the budget.
Taking suitable action to achieve the desired objective if there is a Revision of budgets in the light of changed circumstances.
(a)
Variance Analysis ,
Adjustment of funds ,
(d) Revised
Budgeting.
ABS LTD. follows ZERO BASED BUDGETING system to prepare its budgets. Zero Base Budgeting is an expenditure control device
where each divisional head has to justify the requirement of funds for each head of the expenditure and prepare the budget accordingly, without reference to
The technique can be used for the introduction and implementation of the system of Management By Objectives.
exploratory research and personal interviews, It is unstructured and informal way to get information about the company, all other related data to complete project had collected through the research and survey, Experience survey had been conducted in order to gather information from the knowledgeable person on the issues relevant to the research project
ii).Company websites,
Secondary data-
i).Balance sheet,
ii).profit and loss account, iii).annual budget,
1. 2. 3.