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    Sruti

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    sabbir194121
    This document is a term paper submitted to Md. Nazmus Sakib, Lecturer of the Department of Management at the University of Dhaka by Group 6 students Sruti Saha, Saima Akter Mou, Tania Sultana, and Rejwan Sheikh. The paper analyzes the financial statements of Colour Woven Bag Industries Limited to evaluate accounting processes, identify challenges, and assess strategies. Key findings include that the company uses Tally accounting software and the straight-line depreciation method. The paper also calculates the trial balance, income statement, retained earnings, and annual depreciation cost.

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    Sruti

    Uploaded by

    sabbir194121
    37 views11 pages
    This document is a term paper submitted to Md. Nazmus Sakib, Lecturer of the Department of Management at the University of Dhaka by Group 6 students Sruti Saha, Saima Akter Mou, Tania Sultana, and Rejwan Sheikh. The paper analyzes the financial statements of Colour Woven Bag Industries Limited to evaluate accounting processes, identify challenges, and assess strategies. Key findings include that the company uses Tally accounting software and the straight-line depreciation method. The paper also calculates the trial balance, income statement, retained earnings, and annual depreciation cost.

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    This document is a term paper submitted to Md. Nazmus Sakib, Lecturer of the Department of Management at the University of Dhaka by Group 6 students Sruti Saha, Saima Akter Mou, Tania Sultana, and Rejwan Sheikh. The paper analyzes the financial statements of Colour Woven Bag Industries Limited to evaluate accounting processes, identify challenges, and assess strategies. Key findings include that the company uses Tally accounting software and the straight-line depreciation method. The paper also calculates the trial balance, income statement, retained earnings, and annual depreciation cost.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    37 views11 pages

    Sruti

    Uploaded by

    sabbir194121
    This document is a term paper submitted to Md. Nazmus Sakib, Lecturer of the Department of Management at the University of Dhaka by Group 6 students Sruti Saha, Saima Akter Mou, Tania Sultana, and Rejwan Sheikh. The paper analyzes the financial statements of Colour Woven Bag Industries Limited to evaluate accounting processes, identify challenges, and assess strategies. Key findings include that the company uses Tally accounting software and the straight-line depreciation method. The paper also calculates the trial balance, income statement, retained earnings, and annual depreciation cost.

    Copyright:

    © All Rights Reserved
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    of 11

    A Term Paper

    on

    Submitted to:
    Md.Nazmus Sakib
    Lecturer
    Department of Management
    University of Dhaka

    Submitted by: Group - 6


    Serial ID Name

    1 147 Sruti Saha

    2 82 Saima Akter Mou

    3 175 Tania Sultana

    4 132 Rejwan Sheikh

    Section -B Batch:28th
    Department of Management
    University of Dhaka

    Date of Submission: 10th December, 2023


    Contents
    Executive Summary ..................................................................................................................................... 3
    Introduction.................................................................................................................................................. 4
    Objectives .................................................................................................................................................. 4
    Overview of The Company ....................................................................................................................... 4
    Methodology .............................................................................................................................................. 6
    Analysis & Findings ..................................................................................................................................... 6
    Accounting software: ................................................................................................................................. 6
    Depriciation Method: ................................................................................................................................. 6
    Calculation of Depriciation: ...................................................................................................................... 6
    Trial Balance:............................................................................................................................................. 7
    Calculation of Income Statement: ............................................................................................................. 8
    Calculation of Retained Earnings: ............................................................................................................. 9
    Challene/Opprtunity of Accouting Process: ............................................................................................10
    Conclusion : ............................................................................................................................................11
    References: .............................................................................................................................................10
    Executive
    T Summary
    The research focuses on Colour Woven Bag Industries Limited, analysis of financial statements,
    where we calculated income statement, trial balance, Retained earnings statement and
    Depreciation.
    We attempted to write about Colour Woven Bag Industries accounting related data analysis
    because the time for thinking just about profit has passed. A new age has arrived in which we must
    consider the individuals who live in our immediate vicinity. To improve the quality of life, the
    Colour Woven Bag Industries Limited group focuses on their four values:- Cost, Quality, Delivery
    and Service.
    Furthermore, the Colour Woven Bag Industries Limited capabilities and skills have grown through
    time, and the PRAN group strives to deliver the greatest working environment and a high-quality
    product to its customers. In addition, Colour Woven Bag Industries Limited primary advantage in
    Bangladesh includes its expertise, big economy, stronger financial resources, greater control over
    raw material sources, and risk- pooling vast distribution network. Standardization, economies of
    scale, and the creation of a prospective market in the new world.
    Eventually, the company is committed to serve the best products with highest quality and service
    satisfaction to the Honorable client.This has enabled the company to establish a strong business
    relationship with all of it’s clients nationally and internationally.
    Introduction

    ‘Color Woven Bag Industries Ltd’ is the leading manufacturer, exporter, and supplier of
    polypropylene bags suitable for all kinds of packaging requirements. It was established in
    2009.The aim of this company is to provide customers with complete packaging solutions in
    accordance with their requirements and specifications.
    Background of the study –
    Analyzing financial statements for the company to make a decision on what steps should be
    taken to improve. Basically it is a manufacturing company and provides bags to the customers as
    per their requirements. They produce tea bags, chemical bags and woven bags in various shapes
    and sizes as per customers' requirements. They have been serving clients in Bangladesh and
    abroad with their wealth of experience, enabling them to be a reputed international player from
    being domestic manufacturers and exporters. They provide customized solutions for their clients'
    packaging requirements and specifications. Data collection link: https://www.colorwoven.com

    Objectives
    ‘Color Woven Bag Industries Ltd’ is the most leading manufacturing company. So we went to that
    company for the purpose of-
    • Which depreciation process the company follows?
    • Check if the company follows the proper steps to generate the income statement.
    • Evaluating existing strategies and structures for the company's goals.
    • Considering whether the company is able to produce products according to the needs of its
    customer.

    Overview of The Company


    Mission & Vision:
    Mission:
    Color woven Bag Industries Limited & Bags & Packs Industries Limited have been committed to
    their customer for ensuring that it provides world class quality products in time at competitive
    price for consumers among all over the world based on customer distance and communication
    service.
    Color woven Bag Industries Limited & Bags & Packs Industries Limited deeply cares about
    improving their ways to serve their customers. For that they are continuously improving their
    current products and pursuing new product opportunities.

    Vision:
    To be a giant in the manufacturing of the woven bags and products by manufacturing the best
    product, no causes of unnecessary harm and fulfil corporate social responsibility to the
    environmental crisis.

    Color Woven Bag Industries Ltd is the leading manufacturer, exporter and supplier of
    Polypropylene bags suitable for all kind of packaging requirements. It was established on 2009.
    Its aim is to provide the customers with complete packaging solutions in accordance to their
    requirements and specifications. It offer packaging solutions to our customers. It has been serving
    its clients in Bangladesh and abroad. Its wealth of experience enables to be a reputed international
    player from being domestic manufacturers and exporters. It provide customized solutions for its
    client’s packaging requirements and specifications.

    It provide bags to customer as per the customer requirement. And also give product in various
    shapes and sizes. It offer people that kind of woven bags can bear heavy weight of products. These
    are very ideal for packing agro-based products, cement, chemicals etc. Also range of big bags is
    widely used for packing sugar and fertilizers etc. The variety of paper bags, which it offer, is very
    ideal for packing foodstuff. In this category, it also offer tea bags, which are laminated from inside
    to protect the content from moisture. Such kind of bags is also used for packaging of chemicals as
    well. Besides, we also have the expertise to manufacture bags, which are widely used for the
    packaging of apparels, courier and mailing services

    The manufacturing technology and machinery are imported from China, India, Korea, Taiwan and
    all products are highly updated and from renowned manufacturer in this line of capital machinery.

    Export Country :
    Color Woven Bag industries export its product in Netherland, UK, Spain, Belgium, France, USA,
    Poland, Germany, Ireland, Canada, Switzerland, Australia, Brazil, New Zealand, Saudi Arabia
    & Japan.
    The company is committed to serve the best products with the highest quality and service
    satisfaction to the honourable client. This has enabled the company to establish a strong business
    relationship with all of its client

    Methodology
    The main purpose of this report is analyzing financial statements of this company. In line with
    this purpose this report seeks to answer the following research questions.
    • Identify and examine the potential threats of the company.
    • Analyze the impact of depreciation method on various aspects.
    • Analyzing how far the company has put itself ahead of its competitors .

    Analysis & Findings


    Accounting software:
    This company use tally accounting software for processing their accounting data. Tally is a popular
    accounting software that small and medium-sized business use for financial management, book-
    keeping, and other related tasks. It helps with tasks like recording transactions, managing
    inventory, generating financial statements and tax compliance. This company use tally to manage
    inventory, track sales and generate invoices. This company use tally in retail, manufacturing,
    services and more areas to do their accounting work and provide financial information

    Depriciation Method:
    Color Woven Bag Industries Ltd. use the Straight -line depreciation method for determining the
    amount of depreciation cost. This company have 87 machine and 2 thread machine. These
    machine’s purchasing price is 57500000tk in total and its approximate depreciation cost per year
    1500000tk.

    Calculation of Depriciation:
    Trial Balance:
    Calculation of Income Statement:

    Color Woven Bag Industries Ltd.


    Income Statement
    For the year ended 30th June 2022
    Calculation of Retained Earnings:

    Color Woven Bag Industries Ltd.


    Statement of Retained Earnings
    Particulars Amount (tk) Amount (tk)

    Sales Revenue 40,2932,450


    Less: Cost of Goods Sold (327,322,176)
    Gross Profit 75,610,274
    (-) Selling & Administrative Expenses

    Selling Expenses 5,673,640


    Administrative Expenses 11,314,729
    (16,988,369)
    Income from operations
    58,621,905
    (+) Other Revenues and Gains
    Other Income 1,209,331
    (-) Other Expenses and Loss
    Other Expenses (13,621,536)

    Income before Tax (12,412,205)


    46,209,700
    (-) Tax @ 30%
    Income after Tax (13,862,910)
    Other comprehensive income/ loss 32,346,790
    ----

    Net Income/Loss 32,346,790


    th
    For the year ended 30 June 2022
    Particulars Amount (tk)
    Retained Earnings at January 2022 26,350,680

    Add: Net Income ended in 2022 32,346,790

    Retained Earnings at December 2022


    58,697,470

    Challene/Opprtunity of Accouting Process:


    Conclusion :
    Organizations in our day are extraordinarily sensitive to demographic, political, technical, and
    economic changes, as they must be. Color Woven Bag Industries Ltd is the leading manufacturer,
    exporter, and supplier of polypropylene bags suitable for all kinds of packaging requirements.
    There are more than 20 countries where Colour Woven Bag Industries goods are frequently
    exported. All products of Colour Woven Bag Industries are manufactured in accordance with
    international standards, ensuring the highest degree of quality at all stages of the
    manufacturing process.

    References
    There are no sources in the current document.

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