INTERNSHIP REPORT

ON
” SCOTTS AND GARMENTS”

Submitted in Partial Fulfillment of the Requirements of Bachelor of Business

Administration Degree Course of Bengaluru City University

Submitted by
SHUBHA. M
(Reg. No. B2021343)

Mentored by
Aiswarya D Pillai
Assistant Professor
Department of Management Studies – BBA

M.S RAMAIAH COLLEGE OF ARTS, SCIENCE AND COMMERCE

BENGALURU-560054
2023
 EVALUATION REPORT

INTERNSHIP REPORT
ON
‘SCOTTS AND GARMENTS’
Peenya industrial area, Bengaluru

Student Mentor

Name Shubha. M Aiswarya Pillai

Name
Reg. No. B2021343

Signature Signature

Date Date

Maximum Marks Sign. of

Name of the Examiner Date
Marks Scored Examiner
Presentation
25
/ Viva-Voce

Report 75

Total Marks 100

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Page 3 of 50
 Dr. M Lakshmi Pathi Naidu M.Com., L.L.B., M.Phil., Ph.D.
Associate Professor and HOD,
Department of Management Studies – BBA
M S Ramaiah College of Arts, Science and Commerce,
Bengaluru - 560054

MENTOR CERTIFICATE

Certified that, this Internship Report on “Scotts & Garments, Bangalore” is based on an original study
done by SHUBHA. M (Reg. No. Reg. No. B2021343) under my supervision. She has attended the required
guidance sessions held by me. This Internship Report has not formed a basis for the award of any other
Degree/Diploma of any University or Institution.

Place: Bengaluru
Date: ___/07/2023

Mentor
 ACKNOWLEDGEMENT

This report has been prepared for the internship that has been done in the “Scotts & Garments” to study
the practical aspect of the course and implementation of the theory in the field with the purpose of
fulfilling the requirements of the course of Bachelor of Business Administration

I would like to express my sincere gratitude to I would like to express my sincere gratitude to Mr.
Prashanth Raj, assistant manager of Scotts and Garments. I take this opportunity to thank Dr.
VATSALA.G, Principal, M S Ramaiah college of arts science and commerce, Bangalore.

I will take this opportunity to thank DR.M. LAKSHMI PATHI NAIDU, coordinator of M S
Ramaiah college of arts science and commerce, Bangalore.
Ms. SAVITHA. BS, hod of the BBA Department, for this constant support, encouragement and
guidance. I would also like to thank the internal guide Ms. AISWARYA PILLAI, Assistant
professor, for the valuable inputs provided to this report, which was immensely helpful in applying
various frameworks to particular situations.

This Internship has been a great learning experience for me and it would have not been possible
without the support of the guidance of the above-mentioned people

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 EXECUTIVE SUMMARY

This report is all about my internship in Scotts and Garments, Bangalore. The main aim of doing internship
under the accounting is to interact with the professional bodies and gain some practical knowledge about
the direct and indirect taxes and other accounting related subjects.

My objective of this report is to share my experience during internship period. This report provides analysis
on the firm, working of - the employees and labors in the firm. This report is the outcome of the Internship
program and summary of my work which I have done in Scotts and Garments for my academic’s purpose.
It was a great experience for me to work there. My theoretical and practical knowledge related to taxation;
technical skills is helping me a lot.
I also performed different tasks during my internship: Preparing the data in the excel sheet. Theoretical
learning of different types of taxation, GST, TDS and TCS. I have also studied about the different functions
of the industry.

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 CHAPTER-01
INTRODUCTION

SCOTTS GARMENTS

Established in year 2018, SCOTTS GARMENTS is a well-known Manufacturer, Wholesaler and

Trader of Kids Shirts, Menes Denim Jacket, Men Striped Shirts, Men Cotton Shirts, Men Cotton
Pant and many more. All these products are quality assured by the quality assurance executive to
ensure perfect qualities and longer life. Highly demanded in different industries, these products are
accessible from the market in different shapes, sizes and configurations...
SCOTTS GARMENTS has started with an aim to be one of the leading high fashion, multi-
categorygarment manufacturing and exporting business in India that provides one-stop solutions
to retailers and brand owners and uniforms companies with uncompromising prices and quality
assured products in various genres such as youth, smart creed, and classic. Along with the
uniforms for various industries including protective work wear. Our talented pool of designers
and product developers has vast experience. They have an eye for commercial trends and
products. Ability to develop mood-board based on Brand DNA. Have good long relationship with
most of the known mills can counter develop any fabric and product and can further enhance it
with value additions or a submit it along with updated variations. Flexibility is one of the
fundamental principles for the eternal sustainability Factsheet.

CEO'S Message

With an industry experience of 03 years, I and my company have thrived through my extensive
knowledge of quality fabric sourcing and its production ethically and cost-effectively. We believe
that quality is a consumer's first right and as such ensure that quality control and assurance take
place at every step in the garment manufacturing process. It is with this uncompromising belief
and the dedication and integrity of those involved in the process that SCOTTS GARMENTS has
been able to flourish for the past 03 years in the fast fashion business. Therelationship with our

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suppliers and customers, our unwavering creative outlook stands as a true testament in our success
in expanding our business with the following Ideologies.

“Quality is Consumer First Right.”

“Timely Delivery is as Holy as Timely as Justice”

“TNA as perfection and consistent as Sunrises and Sunsets”

“Creativity is infinitive”

PURPOSE
From finance and accounting perspective, Scotts Garments

Bookkeeping: Accounts assistants often assist with bookkeeping tasks, including recording financial
transactions, maintaining general ledgers, and reconciling accounts. This may involve data entry, organizing
and filing documents, and ensuring accurate and up-to-date records.

Accounts Payable and Receivable: Accounts assistants typically handle tasks related to accounts payable
and accounts receivable. This includes processing vendor invoices, preparing payment requests, monitoring
payment schedules, and following up on overdue payments. They may also assist in issuing customer
invoices and tracking outstanding receivables.

Expense Management: Managing employee expenses is another responsibility of an accounts assistant.

This involves reviewing and processing expense claims, verifying supporting documents, and reconciling
expense reports. They may also help enforce company expense policies and procedures.
Financial Reporting: Accounts assistants often contribute to financial reporting activities. They may assist
in preparing financial statements, such as income statements and balance sheets, by compiling data,
performing calculations, and ensuring the accuracy of information. They may also assist with budgeting and
forecasting processes.

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Data Analysis: Accounts assistants may be involved in analyzing financial data to identify trends, patterns,
and discrepancies. They may help prepare financial reports and provide insights to support decision-making
processes.

Payroll Support: Depending on the organization's structure, accounts assistants may assist with payroll
processing. This could involve calculating employee salaries, deducting taxes and benefits, maintaining
payroll records, and ensuring compliance with payroll regulations.

Administrative Tasks: In addition to accounting-specific responsibilities, accounts assistants may also

perform general administrative tasks. This may include answering phone calls, responding to emails,
organizing meetings, and assisting with other administrative duties as required.

It's important to note that the exact responsibilities of an accounts assistant can vary depending on the
organization's size, industry, and specific job requirements. Some accounts assistants may have more
specialized roles or additional responsibilities, while others may have a broader range of duties.

Techniques used in analysis:

1.SWOT analysis:
SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and
threats associated with a business or a specific situation. It provides a comprehensive overview of the
internal and external factors that can impact the success or failure of an organization or a project. The
importance of SWOT analysis lies in its ability to identify key areas of focus and develop effective
strategies. Here are some reasons why SWOT analysis is important:

1. Strategic Planning: SWOT analysis helps organizations develop a strategic plan by assessing their
internal strengths and weaknesses along with external opportunities and threats. It enables
companies to align their resources and capabilities with the external environment, maximizing their
chances of success.

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2. Internal Assessment: By examining internal strengths and weaknesses, SWOT analysis provides
insights into what the organization does well and where it may face challenges. This self-assessment
allows companies to capitalize on their strengths and work on improving their weaknesses.

3. External Assessment: SWOT analysis identifies external opportunities and threats that can impact
the organization's performance. It helps organizations understand market trends, industry dynamics,
competitive forces, and customer preferences, enabling them to adapt and take advantage of
opportunities while mitigating threats

4. Decision Making: SWOT analysis provides a structured framework for decision making. It helps
organizations make informed choices by considering both internal and external factors. The analysis
allows companies to prioritize initiatives, allocate resources effectively, and make decisions that
align with their strengths and opportunities.
5. Strategy Development: SWOT analysis forms the basis for developing effective strategies. By
leveraging strengths and opportunities, organizations can identify strategic initiatives that will drive
growth and competitive advantage. Likewise, by addressing weaknesses and mitigating threats,
companies can minimize risks and improve performance.

6. Risk Management: SWOT analysis highlights potential threats and risks to the organization. By
identifying these risks early on, companies can develop risk management strategies to minimize their
impact. This proactive approach helps organizations anticipate and prepare for potential challenges,
enhancing their resilience and sustainability.

7. Competitive Advantage: SWOT analysis allows organizations to identify their unique strengths and
competitive advantages. By leveraging these strengths, companies can differentiate themselves from
competitors and position themselves effectively in the market. It also helps identify areas where
competitors may have an advantage, allowing organizations to develop strategies to overcome those
challenges.

8. Performance Evaluation: SWOT analysis provides a benchmark for evaluating performance. By

periodically revisiting the analysis, organizations can assess the progress made in leveraging
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 strengths, addressing weaknesses, capitalizing on opportunities, and mitigating threats. It helps
measure the effectiveness of strategies and identify areas that require further improvement.

PESTEL analysis:
PESTEL analysis is a framework used to analyse and evaluate the external macro-environmental factors
that can impact an organization or a specific industry. PESTEL stands for Political, Economic, Social,
Technological, Environmental, and Legal factors. It provides a comprehensive understanding of the broader
context in which an organization operates and helps identify potential opportunities and threats.

1. Political Factors: This refers to the influence of political institutions, policies, and stability on the
business environment. It includes factors such as government regulations, political stability, taxation
policies, trade restrictions, labour laws, and government stability. Political factors can impact
business operations, market entry barriers, and industry regulations.

2. Economic Factors: Economic factors examine the overall economic conditions and trends that can
affect the business environment. This includes factors such as economic growth, inflation rates,
interest rates, exchange rates, disposable income, consumer confidence, and unemployment rates.
Economic factors can influence consumer purchasing power, market demand, cost of capital, and
business profitability.

3. Social Factors: Social factors encompass the cultural, demographic, and societal aspects that
influence business operations. This includes factors such as population demographics, lifestyle
trends, consumer attitudes and behaviours, social values, education levels, and health consciousness.
Social factors can impact consumer preferences, market segmentation, product demand, and
corporate social responsibility initiatives.

4. Technological Factors: Technological factors analyse the impact of technology on the business
environment. This includes factors such as technological advancements, research and development
activities, automation, digitalization, intellectual property protection, and infrastructure

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 development. Technological factors can create new business opportunities, disrupt existing
industries, and influence operational efficiency.

5. Environmental Factors: Environmental factors consider the ecological and environmental aspects
that can affect business operations and sustainability. This includes factors such as climate change,
environmental regulations, sustainability practices, renewable energy, waste management, and
natural resource availability. Environmental factors can drive the need for sustainable practices,
impact resource availability and costs, and influence consumer preferences.

6. Legal Factors: Legal factors encompass the legal and regulatory framework within which businesses
operate. This includes factors such as employment laws, consumer protection laws, intellectual
property rights, health and safety regulations, and industry-specific regulations. Legal factors can
affect business operations, compliance requirements, product development, and competitive
practices.

By analysing these six components of PESTEL, organizations can gain insights into the external factors that
may impact their industry, market, or specific project. PESTEL analysis helps identify opportunities that
can be capitalized on, as well as threats that need to be mitigated. It assists in strategic decision-making,
risk assessment, and adapting to the external environment. By understanding the macro-environmental
factors, organizations can develop effective strategies, anticipate changes, and stay competitive in their
respective markets.

Porter’s five force model:

Porter's Five Forces model is a strategic framework developed by Michael Porter that helps analyze the
competitive dynamics and attractiveness of an industry. It provides insights into the competitive forces that
shape an industry's profitability and helps organizations understand their competitive position. The five
forces considered in this model are:

1. Threat of New Entrants: This force examines the ease or difficulty for new competitors to enter the
industry. Factors such as barriers to entry, economies of scale, capital requirements, brand loyalty,

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 and government regulations influence the threat of new entrants. Higher barriers to entry reduce the
threat and protect existing industry players, while lower barriers make it easier for new competitors
to enter and intensify competition.

2. Bargaining Power of Suppliers: This force assesses the power suppliers have over the industry and
its participants. Factors such as supplier concentration, availability of substitute inputs, switching
costs, and the uniqueness of suppliers' products or services impact their bargaining power. Suppliers
with strong bargaining power can demand higher prices, better terms, or limit the availability of
inputs, reducing the profitability of industry participants.

3. Bargaining Power of Buyers: This force examines the power buyers have over the industry and its
participants. Factors such as buyer concentration, buyer switching costs, price sensitivity, and the
availability of substitute products or services influence their bargaining power. Buyers with strong
bargaining power can exert pressure on industry participants to lower prices, improve quality, or
offer better terms, potentially squeezing profit margins.

4. Threat of Substitutes: This force considers the availability of substitute products or services that can
fulfil the same needs as those offered by the industry. Factors such as the price-performance ratio,
switching costs, and buyer propensity to substitute impact the threat of substitutes. Industries with a
higher threat of substitutes face a higher risk of losing customers to alternative solutions, putting
pressure on pricing and profitability.

5. Intensity of Competitive Rivalry: This force analyses the level of competition among existing
industry players. Factors such as the number and size of competitors, industry growth rate, product
differentiation, and exit barriers influence the intensity of competitive rivalry. High rivalry leads to
price competition, reduced profit margins, and the need for continuous innovation and differentiation
to maintain a competitive advantage.

By analysing these five forces, organizations can gain a deeper understanding of their industry's competitive
dynamics, assess the attractiveness of the industry, and formulate strategies to enhance their competitive
position. The goal is to identify opportunities for differentiation, develop effective competitive strategies,
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and mitigate the impact of competitive forces on profitability. Additionally, the Five Forces model can help
organizations anticipate industry changes, evaluate entry into new markets, and make informed strategic
decisions.

DATA COLLECTION
1. Primary source (from industry)
2. Secondary source

SCOPE
DEPARTMENT OF ACCOUNTS

The Department of Accounts in a garments industry plays a vital role in managing the financial aspects of
the business. Here are the key functions and responsibilities typically associated with the Accounts
Department:

1. Financial Analysis: Assist in conducting financial analysis by analysing financial statements, assessing
financial performance, and identifying trends or patterns. This may involve calculating financial ratios,
preparing financial models, or conducting benchmarking analysis.

2. Budgeting and Forecasting: Contribute to the budgeting and forecasting process by assisting in the
preparation of budgets, financial projections, and variance analysis. This includes analysing historical
data, gathering relevant information, and participating in budget meetings.

3. Financial Reporting: Support the preparation of financial reports, including balance sheets, income
statements, cash flow statements, and management reports. Assist in ensuring compliance with
accounting standards and internal control procedures.

4. Accounts Payable/Receivable: Assist in managing accounts payable and accounts receivable functions
by processing invoices, reconciling statements, and monitoring payment collections. Gain exposure to
invoice processing systems, vendor management, and customer account reconciliation.
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5. Cost Analysis: Contribute to cost analysis activities by examining cost structures, analysing cost drivers,
and identifying opportunities for cost reduction or efficiency improvements. Assist in evaluating cost
variances and preparing cost reports.

6. Internal Control and Audit: Participate in internal control procedures, including documentation, testing,
and evaluation of internal controls. Assist in conducting internal audits and supporting external audit
processes.

7. Financial Systems and Tools: Gain exposure to financial systems and tools used for accounting and
financial analysis purposes. Assist in data entry, report generation, system testing, and process
improvement initiatives.

8. Compliance and Regulations: Assist in ensuring compliance with relevant financial regulations and
accounting standards. Gain understanding of compliance requirements, participate in compliance
monitoring, and support internal/external audits.

9. Financial Planning and Strategy: Contribute to financial planning and strategic initiatives by conducting
research, gathering data, and providing analysis for decision-making processes. Assist in evaluating
investment opportunities, performing market research, or conducting feasibility studies

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 CHAPTER-02
OVERVIEW OF THE ORGANISATION

Nature of Enterprise

Clothing industry or garment industry summarizes the types of trade and industry along the
production and life chain of clothing and garments, starting with the textile industry (producers of
cotton, wool, fur, and synthetic fiber) via fashion industry to fashion retailers up to trade with
second-hand clothes and textile recycling. The producing sectors build upon a wealth of clothing
technology some of which, like the loom, the cotton gin, and the sewing machine heralded
industrialization not only of the previous textile manufacturing practices.

Industries in the Apparel Manufacturing subsector group establishments with two distinct
manufacturing processes:

(1) cut and sew purchasing fabric and cutting and sewing to make a garment)

(2) the manufacture of garments in establishments that first knit fabric and then cut and
sew thefabric into a garment.

The Apparel Manufacturing subsector includes a diverse range of establishments manufacturing

full lines of ready-to-wear apparel and custom apparel: apparel contractors, performing cutting or
sewing operations on materials owned by others; jobbers performing entrepreneurial functions
involved in apparel manufacture; and tailors, manufacturing custom garments for individual clients
are all included. Knitting, when done alone, is classified in the Textile Mills subsector, but when
knitting is combined with the production of complete garments, the activity is classified in Apparel
Manufacturing.
There are considerable overlaps between the terms clothing-/garment-, textile- and fashion
industry. The clothing sector is concerned with all types of clothes, from fashion to uniforms, e-
textiles and work wear. Textile industry is less concerned with the fashion aspect but produces the
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fabrics and fibers that are required for tailoring. The fashion industry closely follows - and sets -
fashion trends to always supply the latest in non-functional clothing.

MACHINERY & EQUIPMENTS

Right from the pattern making and grading to final Pressing and packing, the latest state-of-art
machinery has been put in place with primary focus on special operations and automation. While
no asset is better than Human Resources, we strongly believe that if these resources are supported
with the right machinery and training, the results will be consistent with assured quality products
and better efficiency, thereby proving as cost-effective. Machine Brands: Ballmer/ Durkopp/Juki/
Brother/ Pegasus/AmfReece/ Kansai Special/ Jack/ Rotondi/ Ramsons/Weishi/ Ngai Shing/MMS
and many others. Infrastructure built with 6 productions lines-with full flexibility of the
steam/condensate / air and vacuum in all the 6 lines. 400 machineries have been installed already.
At its peak -it will have 475 employees and production capacity 4000 pcs per day.

OUR VISION

To serve most of the Global Retailers and Premium Brands. To provide customers one-stop
solutions for the major lifestyle categories for men, women-kids. To provide customers total
transparency on the progress and the quality of their orders, in real-time through our
comprehensive ERP system. To be a leader in the industry of fashion manufacturing and setting
the high standard in quality, reliability and social compliances. To be the flag bearer of the fair
and ethical manufacturing and trading practice in the manufacturing industry. We believe
sustainability has many faces and one of them is growth. We want our employees to be sustainable,
which means we must provide a platform for them to enrich their skills continuously. This will
further cement our policy of 100% customer satisfaction by ensuring- assured quality of products
and services on time.

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OUR MISSION
To be a leader in the industry of fashion manufacturing and setting the high standard for the rest of
the industry to follow in quality, reliability and social compliances. One of our goals to set up a state
of art in house design studio along with a fully accredited laboratory for Fabric / Accessories and
Garment testing. To lay the foundation for creativity center, where an opportunity will be given to
upcoming new creative passionate beginners and thus lays the base for future India to achieve the
status of FASHION CAPITAL of the world. To take care of our employees and give abundant
opportunities to further enhance their knowledge and skill. Making them proud and sustainable by
encouraging them to play a contributory role for their self-growth.To provide a complete one stop
solution from fiber to fashion to our customers to be one of the best Suits Manufacturing Company
in the WORLD.

Our Compliance Plan

Our production facility has been planned right from the construction design phase to achieve full
compliance status with zero tolerance. Careful attention has been given to all aspects of
compliances- HEALTH, SAFETY & COMFORT. All the pre-approval has been taken from
various concerned government agencies before the start of construction. All the good practice and
process have been adopted and the Policies have been put in place, to ensure all kind of social,
health and safety compliances. SEDEX Audit / Certification in process and expected to be
achieved in November 2022 and presently our company is certified with INDITEX.

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Particulars Details

Name of the Company / Scotts and Garments

Organisation
Location of the Company / Peenya industrial area, Bengaluru
Organisation
Internship Start Date 27 May, 2023

Internship close date 28 May, 2023

Total Internship period (No. of 23

Days)
Internship external Guide (If any) -

Type of Company / Organisation Textile industry

Year of establishment 2018

Address of the Company / #491-8, 4th phase, Peenya Indu area,

Organisation Peenya, Bengaluru -58

Turnover of the Company / 50 Lakhs

Organisation

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Basic Information

Nature of Business Textiles Manufacturer

Trader/
Additional Business
Wholesaler

Total Number of Employees 450 to 500 People

Year of Establishment 2018

Legal Status of Firm Individual - Proprietor

Annual Turnover Up to Rs. 50 Lakh

Type of Industry Micro (As on MSME Act)

Products Men's wear

4000pcs per day,

Infrastructure
200 machines,

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Certificates of company:

• GST Certificate/ MSME certification

• PF certification
• ESI certification
• Export and import certification
• Statutory certification
• Certification of stability
• Fire no obligation certification
• Fire department certification
• First aid training certification Company registration certificate
• Business commencement certification

Products manufacturing in SCOTTS GARMENTS.

1. Zudio
2. Netplay
3. Zara
4. Arvind

MAIN BRANDS DEALING WITH:

ZARA

ZARA Spanish’s a Spanish multi-national retail clothing chain. It specializes in fast fashion, and
sells clothing, accessories, shoes, beauty products and perfumes. The head office is in Arteixo, in a
Corunna in Galicia. It is the largest constituent company of the Inditex group. In 2020 it was
launching over twenty new product lines per year.

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ZUDIO

Zudio stores in India. All offers, deals, discounts, promotions, events, online shopping, sales at
Zudio. Established in 1998 and part of the Tata group, Trent Ltd. operates Zudio. Zudio is a mass
market brand in the value format offering and a separate fashion destination. The Zudio stores have
several departments to meet the varied shopping needs of customers. These include apparel across
men, women and kids, footwear and home. Tata Trent Ltd opened its first 8,000 sq.

RELIANCE NETPLAY

Netplay is based on Reliance Retail is an Indian retail company and a subsidiary of Reliance
Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. [4] Its retail outlets
offer foods, groceries, apparel, footwear, toys, home improvement products, electronicgoods, and
farm implements and inputs. Apart from physical outlets, the company also sells products on its e-
commerce channels. It has 280,000 employees at 16,700 store locations.

VOI JEANS

Voi Jeans was established in 1988 in Preston, Lancashire. The name Voi was decided from a trip
to Italy that the brothers had taken, incorporating the style and love of denim that the Italians have.
Voi standing for "You" was a crucial decision in the making of the brand Voi Jeans as this was
always a forefront thought, to keep "you" the consumer in mind at all times. It was at this time,
that the decision was taken to move on from their past of laundering and start manufacturing actual
denims; taking into account, trends, and styles. From this Voi Jeans was born. Over the last few
years, they have expanded and incorporated a wider, more varied range of denim wear to open up
to a wider consumer market.

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COMPANY DEALS WITH:

Purchase:

❖ Reliance retail limited (Fabric shirt)

❖ ARVIND AGENCES (shirt prices)
❖ Fine attire trading company (Fabric shirt prices)
❖ Troop enterprises (Cotton pieces)
❖ Kamal industries (Kaja button)
❖ Classic garments (Navy blue shirt prices)
❖ Uttam enterprise (Sanatory product)
❖ Guru fab (Fabric shirt price)
❖ Sav (White shirt prices)
❖ Kaveri creation (Sewing Machine)
❖ Shri hair industry (Threads and pins)
❖ Gabballi industry (Iron Machine)
❖ Suvastra India (Fabric White shirt pieces)
❖ Sri chakra ribbons (White, Blue, Black Threads)
❖ Sonee enterprise (Navy blue shirts prices)
❖ S.R enterprise (Printer cartridge)
❖ Ccl enterprise (Fusing machine)
❖ Interface (white shirt prices)
❖ Meera enterprise (Fabric navy blue shirt prices)
Sales:
Voi jeans (checks shirts)
Dhanalakshmi textile ltd (men’s shirts)
Go Go international PVT LTD (WOMEN’S TOP)
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 Usha garment. (ZARA SHIRTS WHITE)
Magnum enterprise (shirt blue and black)

WORK CULTURE
Some general insights into the work culture commonly found in the garment industry.

Fast-paced and deadline-oriented: The garment industry often operates on tight production schedules and
strict deadlines. The work culture can be fast-paced, with a focus on meeting targets and delivering orders
within specified timelines.
Teamwork and collaboration: Collaboration is crucial in the garment industry, as different departments and
individuals need to work together to ensure smooth production processes. Teamwork and effective
communication are often valued to streamline operations and achieve efficiency.
Attention to detail and quality: The garment industry places significant importance on maintaining quality
standards. Employees are expected to pay attention to detail, follow precise specifications, and ensure that
garments meet the required quality criteria.
Adaptability and flexibility: Due to changing fashion trends, customer demands, and market dynamics, the
garment industry requires employees who are adaptable and flexible. This may involve adjusting production
schedules, responding to last-minute changes, or quickly implementing new processes.
Emphasis on compliance: Compliance with labor laws, health and safety regulations, and ethical standards
is a crucial aspect of work culture in the garment industry. Companies often prioritize providing a safe and
fair working environment for their employees.
Diverse workforce: The garment industry typically employs a diverse workforce, including individuals from
different backgrounds, cultures, and skill sets. Embracing diversity and fostering an inclusive work
environment is increasingly recognized as essential in the industry.

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 ORGANIZATION STRUCTURE

Here's a typical structure that you may find in a garment manufacturing company:

Top Management/Executive Level:

• Chief Executive Officer (CEO): The highest-ranking executive responsible for overall company
strategy and decision-making.
• Chief Operating Officer (COO): Oversees the day-to-day operations of the company, including
production, supply chain, and logistics.
• Chief Financial Officer (CFO): Manages financial operations, budgeting, and financial planning.
• Chief Marketing Officer (CMO): Develops and implements marketing strategies to promote the
company's products and brands.
• Chief Human Resources Officer (CHRO): Responsible for managing the company's human
resources, including recruitment, employee relations, and training.

Production and Operations:

• Production Manager: Oversees the entire production process, including cutting, sewing, finishing,
and quality control.
• Merchandising Manager: Coordinates between buyers and production teams, ensuring that
production meets customer requirements.
• Quality Control Manager: Ensures that garments meet the required quality standards by
implementing quality control procedures and inspections.
• Supply Chain Manager: Manages the procurement of raw materials, inventory management, and
logistics.

Design and Development:

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 • Fashion Designers: Create and develop garment designs based on market trends and customer
preferences.
• Pattern Makers: Translate design concepts into patterns used for cutting fabric and sewing garments.
• Sample Makers: Create prototypes and samples based on design specifications for approval and
testing.
• Technical Designers: Collaborate with pattern makers and sample makers to ensure the proper fit,
functionality, and construction of garments.

Sales and Marketing:

• Sales Managers: Develop sales strategies, manage customer accounts, and coordinate sales
activities.
• Marketing Managers: Plan and execute marketing campaigns, conduct market research, and manage
brand promotion.
• Customer Service Representatives: Handle inquiries, orders, and customer support.
Support Functions:
• Finance and Accounting: Responsible for financial management, budgeting, accounts
payable/receivable, and financial reporting.
• Human Resources: Manage recruitment, employee relations, training and development, and payroll.
• IT and Systems: Support and maintain the company's information technology infrastructure and
systems.
• Administrative Staff: Provide administrative support and assist with general office management.

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SEWING

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INISHING

DISPATCH

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Advantages of the Garment Industry:
• Employment Generation: The garment industry is a significant source of employment,
especially in developing countries. It provides jobs to millions of workers, including skilled and
unskilled labour, supporting livelihoods and economic growth.
• Economic Contribution: The garment industry contributes to the economy through export
earnings, tax revenues, and foreign exchange inflows. It can boost a country's GDP and improve
its balance of payments, particularly for countries that have a competitive advantage in garment
production.
• Technological Upgradation: The industry drives technological advancements in machinery,
production processes, and materials. Innovations in automation and digitalization have led to
increased efficiency, reduced production time, and improved product quality.
• Market Expansion: Garment manufacturing enables countries to access global markets and
participate in international trade. This can lead to increased market diversification, higher export
volumes, and improved economic integration.
• Skill Development: Working in the garment industry can provide workers with valuable skills
such as sewing, pattern-making, cutting, and quality control. These skills can be transferable
and can enhance employability prospects in related industries.

Disadvantages of the Garment Industry:

• Low Wages and Poor Working Conditions: Many garment factories, especially in developing
countries, have been criticized for low wages, long working hours, and unsafe working
conditions. Workers often face exploitation, lack of job security, and limited access to labour
rights and benefits.
• Environmental Impact: The garment industry has a significant environmental footprint. It
consumes large amounts of water, energy, and chemicals during production. Additionally,
improper disposal of waste and the use of non-sustainable materials contribute to pollution and
resource depletion.
• Ethical Concerns: Concerns over labour rights violations, including child labour, forced labour,
and discrimination, have been raised in the garment industry. Unethical practices, such as
subcontracting to unregulated factories, can lead to poor working conditions and exploitation of
workers.
• Price Pressure and Fast Fashion: The demand for low-cost garments and fast fashion has led to a
competitive environment where price pressure often compromises the quality and durability of
products. This can result in a throwaway culture, excessive waste, and a negative impact on the
environment.
• Supply Chain Complexity: The garment industry involves complex global supply chains with
multiple stakeholders. Coordinating production, sourcing raw materials, and ensuring
compliance with labour and environmental standards can be challenging, particularly for smaller
manufacturers.
• It's important to note that while these advantages and disadvantages exist in the garment
industry, efforts are being made by various stakeholders to address the industry's shortcomings,
promote sustainability, and improve working conditions.
Page 29 of 50
 FINANCIAL STATEMENT
Balance sheet 2022-2023
M/S SCOTTS GARMENTS
(Propx: Smt Savitha B C)
1st Phase, No 5F2, Peenya Industrial Area Jalahalli West Bangalore
BALANCE SHEET AS AT 31.03.2022
Amoun Amount Amount Amount
Liabilities t in Rs. in Rs. ASSETS in Rs. in Rs.
Capital Account: Non-Current Assets
Capital Account (Opening) Fixed Asset

ADD: Additional during the year 774,097 Business assets

ADD: Net Profit/Loss for the year (540,799) (Schedule-4) 291,226

233,298
Current Assets, Loans and
LESS: Drawings 75,000 158,298 advance

Deposit 1,500,000
Loans & Liabilities Loans & Advances

Secured loan - (Schedule-5) 303,000

Unsecured loan - - Sundry debtors

(Schedule-6) 1,107,074
Current Liabilities and
Provisions: Cash and bank balances

Current Liabilities (Schedule-7) 262,341

(Schedule -1) 250,000 Other Current assets

Sundry creditors (Schedule-8) 136,539 3,308,954

(Schedule -2) 1,123,646

Other Current Liabilities

(Schedule-3) 2,068,236 3,441,882

3,600,180 3,600,180

Page 30 of 50
 Schedules

M/S SCOTTS GARMENTS

(Prop: Smt Savitha B C)
1st Phase, No 5F2, Peenya Industrial Area Jalahalli West Bangalore
Schedules Forming part of balance Sheet as at 31.03.2022
Amount in Amount
Particulars Rs. Particulars in Rs.
Schedule Schedule
1 3

Current Liability Other Current Liability

ESI-Employees
Deposit received 250,000 Contribution 9,089
PF-Employees
contribution 131,385
Schedule Professional Tax
2 Payable 4,400

Sundry Creditors Salary Payable 290,424

BM International 2,991 Wages Payable 1,057,505

Deepak Hardware & Electricals 8,807 Bonus Payable 361,486

Harshitha enterprises 124,549 TDS Payable 163,947

Kamal Industrial Hardware 23,088 Audit Fee Payable 50,000

Kaveri Creations 10,482 Total 2,068,236

Schedu
Likith Enterprises 5,500 le5

N V Diesel Solutions 23,000

Loans & Advances
Priyadarshini Industries 378,000 (Asset)

Sawaae International 6,253 Advance Salary/wages 1,000

Royal oak Incorporation Private
Limited 65,000 Mahaadeva R 302,000
Sai Enterprises 206,500 Total 303,000

SDN Technologies 4,425

Schedule
SLR Enterprises 123,891 6

SR Enterprises 111,002 Sundry Debtors

Page 31 of 50
 First Step Baby Wear
Sri Ammajee Enterprises 14,868 Private Ltd 190,542
Go Go International
Srinidhi Pest Control 3,540 Pvt Ltd 261,663
Voi Jeans Retail
Uttam Enterprises 11,750 IndiaPvt Ltd 509,900

Total 1,123,646 Likith Enterprises 144,969

Total 1,107,074

Schedule Schedul
7 e8

Cash & Bank Balance Others Current Assets

Cash in Hand 255,766 TDS Receivable 94,590

Cash at Bank 6,575 ITC Input Credit 41,949

Total 262,341 Total 136,539

Page 32 of 50
 Schedule -4

Assets: As on 31.03.2022

Addition Addition Deletion WDV as

WDV as s Before s after during on 31-
Particulars on 9/30/202 9/30/202 theyear Total Depreciation 03-
4/1/2021 1 1 2022
% Rs.

CCTV - - 40,000 - 40,000 40% 8,000 32,000

Furshing
Machine - - 250,000 - 250,000 15% 18,750 231,250

Mobile - - 30,244 - 30,244 15% 2,268 27,976

Total Rs. 320,244 320,244 29,018 291,226

Page 33 of 50
 Profit and Loss Account

M/S SCOTTS GARMENTS

(Propx: SmtSavitha B C)
481/B 4 PEENYA INDUSTRIAL AREA BANGALORE-68
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31.03.2022
Amount Amount Amount
Expenditure in Rs. in Rs. Income in Rs.
Employee Cost and
To related expenses By Income from operations 9,404,069

To Salary and wages 723,488

EPF Employer
To Contribution 128,690 By Other Income
ESI Employer
To Contribution 100,287 Rounding Off 1

To Wages 4,217,893 Sundry Balance w/off 1,750

To Bonus 361,486
Net Loss for the year trfd
To Production Incentive 185,358 5,717,202 By to Capital A/c 540,799
Direct Expenses

To Electricity Charges 284,976

Processing Charges-Job
To work 525,278

To Consumables 24,073

To Factory Rent 1,575,000

Repair and Machinary
To maintenance 191,913 2,601,240

Indirect Expenses

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To Audit Fee 50,000

To Bank charges 926

To Conveyance 200
To Diesel Expenses 12,751

To Factory Maintenance 310,541

To Machinery hires charges 60,000

To Internet Charges 7,132

To Medical Expenses 9,698

To Labor Welfare Fund 3,880

To Pooja Expenses 100

To Printing and Stationary 28,741

To Professional Charges 40,700

To Rates and Taxes 89,788

Repairs and
To maintenance-Others 665,611
Security service
To Charges 257,008

To Sundry Expenses 23,000

To Transportation Charges 30,783

To Water Charges 8,300

To Depreciation 29,018 1,628,177

9,946,619 9,946,619

Page 35 of 50
 Income Statement

Previous
A.Y.2022-2023 Year: : 2021-2022
DOUPS7538
Name: SAVITHA B C PAN: G
Father's Name: CHANDRAYYA Status Individual
No.44.2ND CROSS 1ST
MAIN DR. RAMANNA
RAO ENCLAVE, Date of
Address: 11-Feb-1988
MADANAYAKAHALLI Birth:
, BANGALORE NORTH
, Bangalore-562162
Aadhaar No 65135317364
Resident : 7
Statement of Income
Rs Rs Rs
Profit and Gains of Business or profession
Business -1
Net Profit Before Tax as per P&L a/c (540,799)
Add: Inadmissible expenses & Income not
Included

Deprecation debited to P&L a/c 29,018

Adjusted Profit of Business-1 (511,781)
Total income of Business and Profession (511,781)
: less: Depreciation as per IT Act 3 29,018
: Income chargeable under the head " Business
and profession " (540,799)

Total income of Business and Profession (540,799)

Unabsorbed Losses 1 540,799

Total income -
Tax on total income 2 94,590

TDS 94,590

Total prepaid taxes 94,590

Refund Due
Schedule 1

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 Loss not
Unabsorbed to be C/F,
Description Loss if any

Ordinary Business Loss 511,781 511,781

Depreciation unabsorbed 29,081

Total 540,779 511,781

Schedule 2
TDS as per form 16A
TDS
claimed in
current Gross receipt
Diductor, TAN TDS deducted year offered
First Steps Bodywear Private Limited, TAN-
BLRF00667C 10,180 10,180 1,018,018
Go Go International Private Limited, TAN-
MUMG13193F 52,162 52,162 5,216,200
Voi Jeans Retail Indian Private Limited, TAN-
BLRV10770E 4,903 4,903 490,288

Likhith Enterprises, TAN -BLRM30377E 27,345 27,345 2,871,225

Total 94,590 94,590 9,595,731

Page 37 of 50
 CHAPTER -03
LEARNINGS AND OUTCOMES

LEARNING OUTCOME

23 days of experience in "SCOTTS GARMENTS" has helped me to gain knowledge about the
Accounts department. The complete details about how Accounts Department work undergone
for a period of one month was great help in understanding the application of theory into
practical. During the training periods the entire Enterprises structure was studied. I have
understood various activities the function of the Enterprises.
The program of Enterprises study is very effective as we got know the ambience of Enterprises
world and also the practical aspects of what we learn theoretically, this learning background
gives a cross functional orientation in basis management idea, quantitative techniques and
analytical skills. The three-week internship which we had undergone it has been founded very
helpful and knowledgeable. The project duration has given me an excellent opportunity to gain
vital exposure it has given me the opportunity to known about the structure, functions of the
Enterprises and also how all departments work. The people are working very fast as it is 8 to 10
hours running Enterprises, they have to decide all the programmers time to time.

1. Understanding of finance concepts and terminology:

I as Interns in a finance department had gain a deeper understanding of finance concepts such
as financial statements, budgeting, financial analysis, and financial reporting. They will also
learn the terminology used in the finance industry. I had also learned calculation of TDS (Tax
Deducted at Sources) it is calculated on the amount which is taxable, one percentage on that
amount will be calculated and deducted by the total amount and it can be clam on the TDS
portal. As per this concept, a person (deductor) who is liable to make payment of specified
natureto any other person (deductee) shall deduct tax at source and remit the same into the
account of the Central Government.
TCS (Tax collection at Sources) is an extra amount collected as tax by a seller of specified
goodsfrom the buyer at the time of sale over and above the sale amount and is remitted to the
government account. TCS will be charge when the amount is more than 5000000rs. And I had
also learned a Cash Voucher is a standard form used to document a petty cash payment. When
someone wants to withdraw cash from the petty cash fund, that person fills out the cash voucher

Page 38 of 50
to indicate the reason for the withdrawal, and receives cash from the petty cash custodian in
exchange.
2. Improved knowledge of Financial and Accounting principle:

Depending on the role, interns may have the opportunity to work with financial data, analyze
trends, and create financial models to forecast future performance. These skills can be valuable
in many industries and can help prepare interns for future roles in finance or business.

3. Enhancing skill of financial data analyzing:

Depending on the role, I had the opportunity to work with financial data, analyze trends, and
forecast the future company’s performance. These skills can be valuable in many industries and
can help prepare interns for future roles in finance or business.

4.We had an opportunity to interact with colleagues at all levels of organization:

5.Exposure to different financial instrument: An internship in a finance department. I had

gained knowledge to various financial instruments such as stocks, bonds, derivatives, and
currencies.

6.Familiarity with the financial software and tool: In finance department I had the
opportunity to work with financial software and tools such as Excel, Tally software, and other
financial databases.

Page 39 of 50
DEPARTMENT OF ACCOUNTS

The Department of Accounts in a garments industry is responsible for managing the financial aspects of
the business. The Accounts Department plays a critical role in maintaining financial records, managing
cash flows, and providing financial insights to support decision-making within the garments industry.
Financial record-keeping: Assist in maintaining and updating financial records, including invoices,
receipts, and payments. This could involve data entry, filing, and organizing documents.

Accounts payable and receivable: Help manage the company's accounts payable by processing vendor
invoices and ensuring timely payments. You may also assist in tracking accounts receivable, including
generating invoices for customers and following up on payments.

Bank transactions: Assist in reconciling bank statements, monitoring cash flow, and recording
transactions in the accounting system. This could involve tracking deposits, withdrawals, and any other
financial activities.

Budgeting and forecasting: Support the finance team in preparing budgets and forecasts by providing
necessary data and assisting with financial analysis. This may involve gathering information from
various departments and helping to identify areas of cost savings or revenue opportunities.

Inventory management: Collaborate with the inventory or production team to monitor and reconcile
inventory records. This could include conducting regular stock checks, updating inventory databases,
and assisting with inventory valuation.

Financial reporting: Assist in preparing financial reports, such as balance sheets, income statements,
and cash flow statements. You may also be involved in analyzing financial data and preparing ad hoc
reports for management.

Compliance and audits: Help ensure compliance with financial regulations and internal controls. You
may assist with preparing documentation and providing support during internal or external audits.

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Communication and coordination: Collaborate with other departments, such as purchasing, sales, and
production, to gather and share financial information. Effective communication and coordination skills
are crucial in this role.

LEARNINGS

I can honestly say that my time spent doing my internship with elegant decors "SCOTTS
GARMENTS" Resulted in best experience of my life. Not only did I gain practical skills but I
also had the opportunity to learn new things. The atmosphere at the Enterprises was always
welcoming which made me feel good and comfortable. I felt like I was able to contribute to the
Enterprises by assisting and working in the Enterprises I also helped in Estimation on profits
earned, Calculation of Cash Voucher and book maintaining, bill entry. And maintaining a petty
cash book. etc.…And I was able to learn a lot from normal office Life. I do think that there
some aspects of the job that I could have done better and that I Need to work on.I need to Build
more confidence in Appling accounting principles. I had also learned that discipline, more
punctuality important and respect. I had also seen the work environment in the enterprise.

I Realized that I could have completed the work earlier than I did. Also, the technically parts of
the job were a bit flawed and I was asked multiple times to correct it. Overall, my internship at
elegant decors has been a success. I was able to gain practical skills, work in a fantastic
environment, and make connections that will last long.

Page 41 of 50
 CHAPTER-04
ANALYSIS

SWOT Analysis

Strengths:
1. Wide Product Range: The garment industry offers a diverse range of products, including
apparel, accessories, and textiles, catering to various customer segments and markets.
2. Skilled Workforce: The industry benefits from a skilled and adaptable workforce, with expertise
in design, manufacturing, and distribution.
3. Established Supply Chains: The garment industry has well-established supply chains, ensuring
efficient sourcing of raw materials, manufacturing processes, and timely delivery of products.
4. Branding and Marketing: Many garment companies have built strong brands and effective
marketing strategies, enabling them to create customer loyalty and capture market share.
5. Global Presence: The garment industry has a global footprint, with companies operating in
multiple countries and accessing diverse markets.

Weaknesses:
1. Price Sensitivity: The garment industry often faces price sensitivity from customers, leading to
intense competition and pressure to maintain competitive pricing.
2. Environmental Impact: The industry's manufacturing processes and materials can have a
significant environmental impact, leading to concerns about sustainability and ethical practices.
3. Labor Conditions: Labor conditions and worker rights have been a challenge in certain regions,
leading to scrutiny and reputational risks for companies.
4. Rapid Fashion Cycles: The industry is characterized by rapid fashion cycles, which require
quick response times and can lead to inventory management challenges and potential waste.
5. Reliance on External Factors: The industry is subject to external factors such as trade policies,
regulations, and currency fluctuations, which can impact profitability and business operations.

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Opportunities:
1. Emerging Markets: The garment industry has opportunities to tap into emerging markets with
growing populations and rising disposable incomes, particularly in Asia and Africa.
2. E-commerce Growth: The rapid growth of e-commerce presents opportunities for garment
companies to expand their reach, sell directly to customers, and leverage online marketing
strategies.
3. Sustainable Practices: Growing consumer demand for sustainable and ethical products creates
opportunities for companies to adopt environmentally friendly practices and promote responsible
sourcing.
4. Technological Advancements: The adoption of technology, such as automation, digitalization,
and data analytics, can enhance efficiency, reduce costs, and improve supply chain management
in the industry.
5. Customization and Personalization: Offering customized and personalized products allows
garment companies to cater to individual preferences and differentiate themselves in the market.

Threats:
1. Intense Competition: The garment industry faces intense competition from both domestic and
international players, leading to pricing pressures and reduced profit margins.
2. Changing Consumer Preferences: Shifts in consumer preferences, fashion trends, and
purchasing behaviour can impact demand for certain products and require companies to adapt
quickly.
3. Counterfeit Products: The garment industry is susceptible to counterfeit products, which can
harm brand reputation and erode customer trust.
4. Trade Disruptions: Trade disputes, tariffs, and changes in trade policies can disrupt supply
chains, increase costs, and hinder market access for garment companies.
5. Regulatory Compliance: Changing regulations related to labor standards, environmental
practices, and safety requirements can pose compliance challenges and increase operational costs
for the industry.

This SWOT analysis provides a snapshot of the internal and external factors that can influence the Scotts
and garment industry's performance.

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 PESTEL ANALYSIS
Political Factors:
• Government regulations: Laws and regulations related to labour, minimum wage, working
conditions, health and safety standards, and trade policies can significantly impact the garment
industry.
• Political stability: Political stability in a country or region is crucial for the smooth operation of
the industry and attracting foreign investments.
• International relations: Trade agreements, tariffs, and geopolitical factors can affect the import
and export of garments.

Economic Factors:
• Economic growth: The overall economic growth of a country or region influences consumer
purchasing power and demand for garments.
• Exchange rates: Currency exchange rates impact the cost of raw materials, manufacturing, and
exports, as well as competitiveness in international markets.
• Inflation and interest rates: High inflation or interest rates can affect consumer spending and
the cost of production for garment manufacturers.
• Disposable income: The level of disposable income available to consumers affects their
purchasing decisions and demand for clothing.

Social Factors:
• Fashion trends and consumer preferences: Changing fashion trends and consumer preferences
have a significant impact on garment sales and production.
• Demographics: Factors such as population size, age distribution, and cultural diversity can
influence the demand for different types of garments.
• Labor force: Availability of skilled and low-cost labour, as well as labour rights and social
responsibility, are important considerations in the garment industry.

Technological Factors:
• Automation and machinery: Advancements in technology, such as automation and robotics,
can impact production processes, efficiency, and labour requirements.
• E-commerce and online retail: The growth of online platforms and e-commerce has
transformed the retail landscape, affecting garment sales and distribution channels.
Page 44 of 50
 • Manufacturing technologies: Innovations in manufacturing techniques, such as 3D printing or
sustainable practices, can shape the industry's competitiveness and environmental impact.

Environmental Factors:
• Sustainability and eco-friendliness: Increasing consumer awareness and demand for sustainable
and ethically produced garments drive the need for environmentally friendly practices.
• Waste management: The industry's impact on waste generation, recycling, and disposal is a
significant environmental concern.
• Environmental regulations: Compliance with regulations related to pollution control, waste
management, and sustainable sourcing can affect garment manufacturers.

Legal Factors:
• Intellectual property protection: Legal frameworks governing intellectual property rights can
impact fashion designs and brand protection.
• Employment laws: Regulations related to employment contracts, working hours,
discrimination, and health and safety have implications for the industry.
• Product safety and labelling: Compliance with regulations regarding product safety, labelling,
and consumer protection is essential for garment manufacturers.

Page 45 of 50
 Porter’s Five force model

Threat of New Entrants:

The garments industry typically has a moderate threat of new entrants. While it may be relatively easy
to start a small-scale clothing business, entering the industry on a larger scale requires significant
investments in manufacturing facilities, supply chain management, distribution networks, and brand
establishment. Established brands and economies of scale act as barriers to entry, making it challenging
for new players to compete.

Bargaining Power of Suppliers:

The bargaining power of suppliers in the garments industry can vary depending on the specific segment
of the market. In general, there are numerous suppliers of fabrics, accessories, and other raw materials,
which reduces their individual bargaining power. However, if a particular supplier has unique or
exclusive materials, they may have more leverage. Additionally, fluctuations in commodity prices, such
as cotton or synthetic fibers, can impact the industry's profitability.

Bargaining Power of Buyers:

Buyers in the garments industry typically have a significant amount of bargaining power. This is due to
several factors, such as the availability of multiple brands and products, ease of switching between
brands, and the rise of e-commerce platforms that provide greater price transparency. Buyers can demand
competitive pricing, high-quality products, and better service, which puts pressure on manufacturers and
retailers to meet their demands.

Threat of Substitutes:
The garments industry faces a moderate threat of substitutes. Substitutes can include clothing rental
services, second-hand or vintage clothing stores, or even alternative forms of fashion such as athleisure
or loungewear. Changing consumer preferences and trends can drive the demand for substitutes.
However, many consumers still prefer buying new clothing, and fashion trends drive frequent purchases,
which mitigates the threat to some extent.

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Industry Rivalry:
The garments industry is highly competitive, with numerous brands and retailers vying for market
share. Competition is intense, leading to price wars, extensive marketing campaigns, and frequent
product launches. Established brands with strong customer loyalty and market presence have a
competitive advantage. Additionally, the growth of fast fashion and e-commerce has increased rivalry
by enabling more players to enter the market quickly.

Page 47 of 50
 Conclusion:

In conclusion, my internship experience in the accounts department at Scotts Garments has been a
valuable and enriching opportunity for my professional growth. Throughout my internship, I have gained
practical knowledge and hands-on experience in various accounting processes and procedures.

During my time in the accounts department, I had the opportunity to work closely with experienced
professionals who provided guidance and mentorship, allowing me to learn and develop my skills. I was
exposed to a wide range of tasks, including bookkeeping, financial analysis, accounts payable and
receivable management, and financial reporting. These experiences have given me a comprehensive
understanding of the financial operations within the organization.

Working in the accounts department has enhanced my proficiency in using accounting software and
tools, as well as my ability to analyze and interpret financial data. I have learned how to accurately
record and reconcile transactions, prepare financial statements, and assist in budgeting and forecasting
processes. These skills are crucial in maintaining the financial health and stability of an organization.

Furthermore, my internship at Scotts Garments has provided me with insights into the importance of
compliance and adherence to accounting standards and regulations. I have gained an understanding of
the ethical responsibilities associated with financial reporting and the significance of maintaining
transparency and accuracy in financial records. This knowledge will serve me well in my future career
as an accountant.

Working as part of a team in the accounts department has also enhanced my communication and
collaboration skills. I have had the opportunity to interact with colleagues from different departments,
including finance, production, and procurement, to gather information and ensure the accuracy of
financial records. This collaborative environment has taught me the value of effective communication,
teamwork, and coordination in achieving organizational goals.

Additionally, my internship at Scotts Garments has provided me with insights into the financial
challenges and considerations specific to the fashion industry. I have learned about inventory
management, cost control, and pricing strategies, which are crucial factors in the profitability and

Page 48 of 50
sustainability of a garment manufacturing company. This knowledge will be valuable in my future
endeavors within the industry.

Overall, my internship in the accounts department at Scotts Garments has been a valuable and rewarding
experience. I am grateful for the opportunity to learn from experienced professionals and apply
theoretical knowledge in a practical setting. The skills and knowledge I have acquired during this
internship will undoubtedly contribute to my future success as an accountant.

I would like to express my sincere gratitude to all the individuals at Scotts Garments who have supported
and guided me throughout my internship. Their mentorship, feedback, and encouragement have played
a significant role in my professional development. I am thankful for the valuable experiences and
opportunities I have had during my time in the accounts department.

In conclusion, my internship at Scotts Garments in the accounts department has provided me with a solid
foundation in accounting principles and practices. I am confident that the knowledge and skills I have
gained will serve me well as I pursue a career in the field of finance and accounting. I look forward to
applying what I have learned and continuing to grow professionally in the future.

Page 49 of 50
 BIBILOGRAPHY

Scoots and garments

https://www.inc.com
https://sg.indeed.com/
https:www.investopedia.com

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