8/8/2019 anand rathi2
1/31
Financial Services in Anand Rathi
Dissertation submitted to the Rajasthan Technical University inpartial fulfillment of the requirements for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION
(2007-09)
Submitted byVIVEK RAMAWAT
(Enrolment no.07108118)
Submitted To:
IILM ACADEMY OF HIGHER LEARNING35/95, Sector 10, Kumbha Marg, R.H.B.
Colony, Pratap Nagar, Sanganer, Jaipur - 302030
1
http://www.rathi.com/index.asp8/8/2019 anand rathi2
2/31
ACKNOWLEDGEMENT
I would like to express my sincerest gratitude to Mr. Rakesh Shah
(Company Guide), Mr. Kailash Sharma (Manager- Finance) and Mr.
Narendra Sharma (Officer-Finance) for helping me in summer training at
Anand Rathi Financial Services Ltd.
This training has helped me to a great extent in developing a team
spirit as well as a sense of responsibility and dedication to efficiently and
effectively complete an undertaken work. The training has also instilled
in me the confidence to communicate with people in a professional
manner.
It has given me a chance to apply certain accounting principles and
techniques in real world business situations and to apply theory in
practice.
In the course of this training I had an opportunity to undertake this
project, A Financial report on cost control", I am sure that my transition
from being a student in a Management Institute to a position of
responsibility in the corporate world will be much more smooth and
confident.
(VIVEK RAMAWAT)
2
http://www.rathi.com/index.asp8/8/2019 anand rathi2
3/31
TABLE OF CONTENTS
Contents Page No . Abstract
3
Introduction to Anand Rathi Financial Services Ltd.5
o Vision5
o Milestones6
o Services Provided by Company7
o Clients 10o Competitors
11o Management Team 12
Objective of the Study
15
SWOT Analysis of the Company16
Finance Department17
My Role
17
On The Job Training18
o Introduction & Need of study19
o Objectives of the study20
Project 213
http://www.rathi.com/index.asp8/8/2019 anand rathi2
4/31
o Data Collection22
o Analysis & Interpretation22
Conclusion 26 Suggestions 27 Bibliography 28
Abstract
Anand Rathi is a leading full service securities firm providing the entire
gamut of financial services. The firm, founded in 1994 by Mr. Anand
Rathi, today has a pan India presence as well as an international presence
through offices in Dubai and Bangkok. AR provides a breadth of
financial and advisory services including wealth management, investment
banking, corporate advisory, brokerage & distribution of equities,
commodities, mutual funds and insurance, structured products - all of
which are supported by powerful research teams.
As a trainee in Anand Rathi Financial Services Ltd., the company has
given me the exposure to work in finance department. Apart from this the
company has given one more responsibility to me which is my project. I
have chosen A Financial report on cost control as my project title.
I have chosen this title because this is directly related to my OJT.For this project I have learnt that how to control the cost of company by
making petty cash, checking the vouchers and parties/contractors bills.
This project is very useful for the company because this will help in
controlling the cost.
This project is useful for me also because with the help of this my
knowledge in the finance department is increasing.
My project is related to core finance department because it controlsthe cost of the company. At the end of my project, I want to add that after
4
http://www.rathi.com/index.asp8/8/2019 anand rathi2
5/31
two months I shall be capable to do the work in finance department and
monitor the financial function of the company.
5
http://www.rathi.com/index.asp8/8/2019 anand rathi2
6/31
INTRODUCTION To ANAND RATHI
Anand Rathi is a leading full service investment bank providing a wide
range of financial services to institutions, corporations, wealthy families
and individuals.
Founded in 1994 by Mr. Anand Rathi and Mr. Pradeep Gupta, the group
employs close to 7,000 professionals across India and its internationaloffices. Citigroup Venture Capital currently holds 20% of the groups
equity.
Anand Rathi Vision:
To be a shining example as a leader in innovation, and the first
choice for clients & employees.
About Anand Rathi:
AnandRathi (AR) set up in 1994, is one of Indias fastest growing full-
service securities firm with a presence in more than 350 locations across
India and has offices in Dubai & Bangkok. AR provides wealth
management services, investment banking, brokerage & distribution
services in the areas of equities, commodities, mutual funds and
insurance. The group caters to the financial needs of diversified group of
clients, which include the well-reputed Corporate Groups, Institutions,
Foreign Investors, Individuals as well as wealthy families and was
6
http://www.rathi.com/index.asp8/8/2019 anand rathi2
7/31
recently ranked by an Asia Money 2006 poll amongst South Asias top 5
wealth managers for the ultra-rich.
The firm's philosophy is entirely client centric, with a
clear focus on providing long term value addition to clients, whilemaintaining the highest standards of excellence, ethics and
professionalism. The entire firm activities are divided across distinct
client groups: Individuals, Private Clients, Corporate and Institutions.
Milestones
1994:
Started activities in consulting and Institutional equity sales with staff of 15
1995:
Set up a research desk and empanelled with major institutional investors
1997:
Introduced investment banking businesses
Retail brokerage services launched
1999:
Lead managed first IPO and executed first M & A deal
2001:
Initiated Wealth Management Services
2002:
Retail business expansion recommences with ownership model
2003:
Wealth Management assets cross Rs1500 crores
Insurance broking launched
Launch of Wealth Management services in Dubai
Retail Branch network exceeds 50
2004:
Commodities brokerage and real estate services introduced
Wealth Management assets cross Rs3000crores
Institutional equities business relaunched and senior research team put in place
Retail Branch network expands across 100 locations within India
2005:
Real Estate Private Equity Fund Launched
7
http://www.rathi.com/index.asp8/8/2019 anand rathi2
8/31
Retail Branch network expands across 200 locations within India
2006:
AR Middle East, WOS acquires membership of Dubai Gold & Commodity
Exchange (DGCX)
Ranked amongst South Asia's top 5 wealth managers for the ultra-rich by Asia
Money 2006 poll
Ranked 6th in FY2006 for All India Broker Performance in equity distribution in
the High Networth Individuals (HNI) Category
Ranked 9th in the Retail Category having more than 5% market share
Completes its presence in all States across the country with offices at 300+
locations within India
2007:
Citigroup Venture Capital International picks up 19.9% equity stake
Retail customer base crosses 200 thousand
Establishes presence in over 450 locations
Services provided by Anand Rathi to its customers
Equity & Derivatives Brokerage:
AnandRathi provides end-to-end equity solutions to institutional and
individual investors. Consistent delivery of high quality advice on
individual stocks, sector trends and investment strategy has established a
competent and reliable research unit across the country.
Clients can trade through online on BSE and NSE for both equities and
derivatives. They are supported by dedicated sales & trading teams in
trading desks across the country. Research and investment ideas can be
accessed by clients either through their designated dealers, email, web or
Sms.
Mutual Funds:
AR is one of India's top mutual fund distribution houses. Their success
lies in their philosophy of providing consistently superior, independent
and unbiased advice to their clients backed by in-depth research. They
firmly believe in the importance of selecting appropriate asset allocations
based on the client's risk profile.
AR have a dedicated mutual fund research cell for mutual funds that
8
http://www.rathi.com/index.asp8/8/2019 anand rathi2
9/31
consistently churns out superior investment ideas, picking best
performing funds across asset classes and providing insights into
performances of select funds.
Depository Services:
AR Depository Services provides with a secure and convenient way for
holding your securities on both CDSL and NSDL.
AR depository services include settlement, clearing and custody of
securities, registration of shares and dematerialization. Also offer daily
updated internet access to holding statement and transaction summary.
Commodities:
AR commodities broking services include online futures
trading through NCDEX and MCX and depository services through
CDSL. Commodities broking is supported by a dedicated research cell
that provides both technical as well as fundamental research. Our
research covers a broad range of traded commodities including precious
and base metals, Oils and Oilseeds, agri-commodities such as wheat,chana, guar, guar gum and spices such as sugar, jeera and cotton.
In addition to transaction execution, we provide our clients customized
advice on hedging strategies, investment ideas and arbitrage
opportunities.
Insurance Broking:
As an insurance broker, AR provide to his clients
comprehensive risk management techniques, both within the business as
well as on the personal front. Risk management includes identification,
measurement and assessment of the risk and handling of the risk, of
which insurance is an integral part. The firm deals with both life
insurance and general insurance products across all insurance companies
Their guiding philosophy is to manage the clients' entire risk set by
providing the optimal level of cover at the least possible cost. The entiresales process and product selection is research oriented and customized to
9
http://www.rathi.com/index.asp8/8/2019 anand rathi2
10/31
the client's needs. They lay strong emphasis on timely claim settlement and
post sales services.
Our services :
Risk Management
Due diligence and research on policies available
Recommendation on a comprehensive insurance cover based on
clients needs
Maintain proper records of client policies
Assist client in paying premiums
Continuous monitoring of client account
Assist client in claim negotiation and settlement
IPOs:
AR is a leading primary market distributor across the country.
Our strong performance in IPOs has been a result of our vast experience
in the Primary Market, a wide network of branches across India, strong
distribution capabilities and a dedicated research team.
Our IPO research team provides clients with in-depth overviews of
forthcoming IPOs as well as investment recommendations. Online filling
of forms is also available.
Major Departments
Equity
Commodity
Life Insurance
General Insurance
Mutual Fund
Depository
IPO
Internet Broking
Information Technology
Client Acquisition
Finance Compliance
10
http://www.rathi.com/index.asp8/8/2019 anand rathi2
11/31
Settlement
Accounts
Operations
HR/Administration
Clients of Anand Rathi
Corporate and Institutional treasuries need ever more sophisticated advice
that is backed by serious and credible research. AR IWM provides its
institutional clients integrated wealth management solutions across global
markets, which are backed by proprietary global economic & investmentresearch.
We understand that your needs could range from finding short-term
surplus management strategies to higher yielding and long term
investments. The IWM team brings together the highly-rated AR research
across fixed income, currencies and equities markets to provide
investment solutions that meet your complex needs - from simple money-
market mutual funds to complex arbitrage strategies in the equities or
commodities markets.
11
http://www.rathi.com/index.asp8/8/2019 anand rathi2
12/31
Competitors of Anand Rathi overall India
Company NameTotal
TerminalsSub
BrokersNo.of
Employees
Numberof
Branches
City
Client List
ACC
Bayer
Century Textiles Clariant
CRISIL
Crompton Greaves
Dabur
Datamatics
GE Shipping
Godrej
Goodlass Nerolac
Grasim Gujarat Abuja Cements
Gujarat Pipavav Port
Heinz India
Hindalco
Hindustan Lever
H&R Johnson
IDFC
Indian Rayon
Jindal Group Larsen & Toubro
Mastek
Mahindra & Mahindra
Raymonds
Sterlite Group
Syngenta
Tata Iron & Steel
Trent
VSNL
Wartsila
12
http://www.rathi.com/index.asp8/8/2019 anand rathi2
13/31
A S Stock Broking & ManagementPrivate Limited
15 NA 25 2 Mumbai
Action Financial Services (India)Limited
18 25 31 10 Mumbai
Alankit Assignments Limited 650 60 700 20New
DelhiAnagram Securities Limited 999 964 1183 139 Mumbai
Angel Broking Limited 5081 2408 1800 66 Mumbai
Anush Shares & Securities PrivateLimited
37 10 40 30 Chennai
Arcadia Share & Stock BrokersPrivate Limited
191 121 150 60 Mumbai
Arch Finance Limited 16 NA 45 10New
Delhi
Zuari Investments Limited 31 NA 50 15New
Delhi
skyes & Ray Equities (India)Limited
18 300 50 250 Mumbai
SKI Capital Services Limited 88 NA 60 18 NewDelhi
Bonanza Portfolio Limited 2177 536 1200 380 Delhi
UTI Securities Limited 270 150 575 35 Mumbai
India Infoline Limited 970 NA 3858 540 Mumbai
Indiabulls Securities Limited 2700 NA 8922 475NewDelhi
Bonanza Portfolio Limited 2177 536 1200 380 Delhi
IL&FS Investmart SecuritiesLimited
661 NA 1600 288 Mumbai
ICICI Securities Limited 1051 587 1833 270 Mumbai
In Jaipur
Hem Securities Ltd.
Religare
India Infoline
India Bulls
Angel Broking Ltd.
Kotak Mahindra
Management Team (Corporate)
Anand Rathi (AR) set up in 1994, is one of Indias fastest growing full-
service securities firm with a presence in more than 350 locations across
India and has offices in Dubai & Bangkok. AR provides wealth
management services, investment banking, brokerage & distribution
services in the areas of equities, commodities, mutual funds andinsurance. The group caters to the financial needs of diversified group of
13
http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=14&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=13&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=13&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=12&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=2&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=14&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.rathi.com/index.asphttp://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=14&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=13&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=13&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=12&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=2&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?PageNo=14&q=CompanyName&r=#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=Tot_Branches#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%23http://www.dnb.co.in/EquityBroking/company_listing.asp?q=CompanyName#%238/8/2019 anand rathi2
14/31
clients, which include the well-reputed Corporate Groups, Institutions,
Foreign Investors, Individuals as well as wealthy families.
Mr. Anand Rathi - Group ChairmanChartered AccountantPast President, BSEHeld several Senior Management positions with one of India's largest industrialgroups
Mr. Pradeep Gupta - Managing DirectorPlus 15 years of experience in Financial Services
Mr. Amit Rathi - Managing Director
Chartered Accountant & MBAplus 9 years of experience in Financial Services
Management Team (Rajasthan)
Hierarchy of Region
14
http://www.rathi.com/index.asp8/8/2019 anand rathi2
15/31
Mr. Rajkumar Jain
(Regional Director)
Rajasthan region is headed by Mr. Rajkumar Jain.
Jaipur- C-Scheme is the Regional Office
Region is divided into 2 clusters:
1. Rest of Rajasthan
2. Udaipur
Apart from Regional office we have 13 branches in the region
Total Manpower in region -331
Branches in Region
Jaipur - Regional Office
Cluster 1 Rest of Rajasthan
Rajapark Branch Mansarovar Branch
REGIONAL
OFFICE
Mr. Rajkumar Jain
(Regional Director)
CLUSTER-1
Rest of Rajasthan
Mr. Amit Mehta
(Cluster Head)
CLUSTER-2
Udaipur
Mr. K. C. Pandya
(Cluster Head)
15
http://www.rathi.com/index.asp8/8/2019 anand rathi2
16/31
Vaishali Nagar Branch Vidhyadhar Nagar Branch Shyam Nagar Branch Kota Branch
Ajmer Branch Sikar Branch Tonk Road Kishangarh
Cluster 2 - Udaipur
Udaipur- Main Branch Udaipur - Sector-11 Branch Bhilwara Branch Chittorgarh Branch Dungarpur Branch
OBJECTIVES OF THE STUDY
The overall objectives of my study is to increase my confidence
and knowledge in Finance Department. Apart from this the following are
objectives of my study:-
To learn the tactics to control the cost.
To apply my theoretical knowledge into real world environment and
how to behave in professional manner.
To increase analytical skill.
16
http://www.rathi.com/index.asp8/8/2019 anand rathi2
17/31
To handle the different type of parties and how should we behave in
different situations.
To know what is the role of finance department in the organization.
SWOT Analysis of ARFSL
Strength:-
Indias Leading Broking House Online and Offline Trading facility
The company is a distribution house of other products like
Life Insurance, General Insurance and Mutual Fund.
Weakness:-
The company is not having its own product unless Dematand Trading Account.
17
http://www.rathi.com/index.asp8/8/2019 anand rathi2
18/31
Opportunity:-
The financial sector is on boom in Indian Economy, this is
the biggest opportunity for a broking house. The company is growing and opening new branches in
Rajasthan also.
Threat:-
Many new Brokers are entering in this field.
Many Players create the price war in the market.
Finance Department's Workings:
Preparing and maintaining day to day vouchers.
Maintaining of party's ledgers.
Passing of party's and contractor's bills. Brokerage generation on daily basis.
Maintaining of bank accounts with reconciliation.
Monthly trial balance and balance sheet.
MIS report on day to day basis.
Branch accounts and profitability statements.
Monitoring of electricity and telephone bills.
Preparation of employee's salary.
Calculation of PF and ESIC on monthly basis.
Half yearly and annual return of service tax and income tax.
18
http://www.rathi.com/index.asp8/8/2019 anand rathi2
19/31
My role in Finance Department:
Preparing and maintaining day to day vouchers. Daily vouchers incorporated in Tally software.
Maintaining of party's ledgers.
Verification of bills.
Passing of party's and contractor's bills.
Maintaining of bank accounts with reconciliation.
Monthly trial balance.
Branch accounts and profitability statements.
Monitoring of electricity and telephone bills.
19
http://www.rathi.com/index.asp8/8/2019 anand rathi2
20/31
INTRODUCTION & NEED OF THE STUDY
After having discussion with my company guide I have chosen my
project which is beneficial for company and me also. I want to introduce
you my project which is A Financial report on Cost Control.
I have chosen this topic as my project because normally it has been
seen that in a company money is being wasted mostly in small petty cash
expenses. Employees are unaware about this fact and therefore the needof cost control is aroused.
20
http://www.rathi.com/index.asp8/8/2019 anand rathi2
21/31
I also felt the need of my study because by the help of this the
company can target the specific expenses which can be minimized.
Cost control is very important for employees also because it affectsin increments.
My project will help the company because it has given some facts
which were hidden earlier and I hope that they will use them to control
the cost. After completion of my project the company can target specific
expenses.
OBJECTIVES
My main objective of on the job training is petty cash,
checking the vouchers and parties/contractors bills. The followings are
some of my On Job Training objectives:-
Working on Tally. Entries of Journal Voucher into Tally.
21
http://www.rathi.com/index.asp8/8/2019 anand rathi2
22/31
Preparing brokerage of Sub-brokers.
Passing parties bills.
Apart from this the OJT helped me to know that how to
overcome the stress of working in corporate environment. This training
has given me knowledge about making schedule for work and making our
self for working with schedule.
22
http://www.rathi.com/index.asp8/8/2019 anand rathi2
23/31
DATA COLLECTION
Irrespective of type of study the cost is calculated in the department itself
so I have taken secondary source of data for my study instead of primary.
Secondary Data:-
Secondary data is the one which researches did not collected
him self & got the information from Department.
23
http://www.rathi.com/index.asp8/8/2019 anand rathi2
24/31
Sample Size - 120
Sample Area - Jaipur-RO
Analysis and Interpretation
I have collected very useful data working along with the
Anand Rathi Financial Services Ltd. I had collected data related to
employee's education and their contribution in the cost because I want
to know that are these factors related to each other.
My sample size of project was 120 It means I have collected data
from all the employees of Regional Office. Out of 120 people 24employees were under Sr. Sec., 60 were under graduate and 36 were
above graduate. For the analysis part I have taken the cost data in % and
45% of the cost is occurred by under Sr. Sec. employees, 32 % cost is
occurred by under graduates and 23 % by above graduates. The analysis
shows that as the education level increases cost reduces.
Education and Cost:- This interpretation tells about howQualification of employees affects the cost of company. Out of 48
interested customers 10% were below senior secondary that are thosepersons who have held shares in physical form or who trade in
commodity. 60% were graduate and 40% were above graduate.
24
http://www.rathi.com/index.asp8/8/2019 anand rathi2
25/31
Relation Between Employee Education and Cost
45 3223
0
1020
30
40
50
BelowSr.
Sec.
Under
Graduate
Above
Graduate
Qualification
Co
st
Below Sr. Sec.
Under Graduate
Above Graduate
Co-relation between Education and Cost
Qualification Below Sr.
Secondary
Under Graduate Above Graduate
X 24 60 36
Y 45 32 23
X= Total no. of employees
Y=Cost in %
Qualification X(Total no.
of
employees)
Y(Cost
in %)
dX=
(X-
A)
dY=
(Y-
B)
dX2 dY2 dXdY
Below S.Sec. 24 45 -16 12 256 144 -192
Under
Graduate
60 32 20 -1 400 1 -20
25
http://www.rathi.com/index.asp8/8/2019 anand rathi2
26/31
Above
Graduate
36 23 -4 -10 16 100 40
N=3 X
=120
Y
=100
dX
=0
d
Y
=1
dX2
=672
dY
2
=245
dXd
Y
=-172
Solution: -N=3, X=120, Y=100
Actual mean=120/3 = 40 (For X Series)
Actual mean=100/3=33.33(For Y Series)
Let A=Assumed mean for X series = 40
B=Assumed mean for Y series = 33
The coefficient of correlation is given by
r = N dXdY- dX dY
N dX2-( dX)2 N dY2-( dY)2
Substituting the values in the formula,
r = 3 (-172) (0*1)
3(672)-(0)2 3(245)-(1)2
r = -516
44.9* 27.09
r = -0.4240
26
http://www.rathi.com/index.asp8/8/2019 anand rathi2
27/31
There is medium degree of negative correlation between Education
and Cost.
CONCLUSION
It was a great experience to work with Anand Rathi Financial
Services Ltd. It is India's leading broking house. As the company has
given me a chance to work with finance department I have collected the
data of cost from finance department itself. HR department helped me in
collecting data of employee's qualification.
27
http://www.rathi.com/index.asp8/8/2019 anand rathi2
28/31
The analysis shows that there is medium degree negative
co-relation between employee's qualification and cost incurred by
employees, which shows that as the qualification increases cost reduces.
The employees who are well educated utilizing the resources provided by
the company very carefully, they are aware of the fact that if the cost
increased it would directly affect on region's profit and lastly on their
increments. They want to grow with the company and that is why they
fully co-operate with finance department. The employees who are less
qualified they are careless while using the resources. They make lots of
wastage unknowingly.
Finance department is like a back bone of the company. It
manages the earnings and expenditures. The analysis also shows that
there is a vast scope of reducing the expenses and wastages. If finance
department is active, it can do wonders in controlling the cost.
SUGESSIONS
1. Budgetary control system should be implemented. In this system
yearly cost budget is made and followed.
2. Company should arrange trainings time to time to increase the
awareness in the employees, because of training the bonding between
28
http://www.rathi.com/index.asp8/8/2019 anand rathi2
29/31
employee and employer get stronger due to which they try to do optimum
utilization of company resources and wastage get reduced.
3. Qualified (at least graduate) employees should be recruited so that
good and healthy working environment could be developed.
4. Finance Department should be more active towards the resources
provided to employees so that it can make the quality resources available
at minimum price.
BIBLIOGRAPHY
www.rathi.com
http:// intra.rathi.com
Monthly Cost Sheets
Employee Data from HR Department
29
http://www.rathi.com/http://www.rathi.com/index.asphttp://www.rathi.com/8/8/2019 anand rathi2
30/31
Quantitative Methods (ICFAI Publications)
30
http://www.rathi.com/index.asp8/8/2019 anand rathi2
31/31
http://www.rathi.com/index.aspTop Related