Profit Planning and Control Process for an Online Trading Store

Citation

Rishav Agrawal (2020). Profit planning and control process for an online trading store (Cooperative Education). Bangkok: Siam University.

Abstract

This cooperative report titled “Profit Planning and Control Process for an Online Trading Store: A case study of Classic Shades, Nepal” has an aim to study the usage of accounting and financial metrics and techniques in an ecommerce industry. The objectives include: (1) to study the profit planning and control process in an online business (2) to study the applications of various techniques of managerial accounting in an online business, (3) to study the use of operational metrics in online business, (4) to understand the financial techniques involved in online business and (5) to implement the financial knowledge acquired. This report is based upon my experience as a finance intern at Classic Shades, Nepal. As an intern, I was required to do book-keeping, data presentation and visualization, assist in budgeting and financial analysis, prepare break-even analysis and help in communicating information for the finance department. I was able to learn the importance of having a strong knowledge in managerial accounting techniques and finance can help the online business to make its operation efficient by considering various costs and revenue streams, and eliminating unnecessary activities. Upon the completion of the internship, in-depth research and feedbacks helped to solve the problems. With good self-discipline, self-learning, initiatives, enthusiasm and strong work-ethics, any task in can be completed with ease.

Keywords: finance, budgets, E-commerce, Classic Shades

Profit Planning and Control Process for an Online Trading Store

Faculty of Business Administration, Siam University, Bangkok, Thailand