SCHOOL OF ACCOUNTANCY AND BUSINESS MANAGEMENT SAINT LOUIS UNIVERSITY BAGUIO CITY COURSE TITLE DESCRIPTIVE TITLE CREDIT PREREQUISITE
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ACCOUNTING 504 INTERNSHIP ON ACCOUNTING PRACTICES THREE (3) UNITS ACCTG 501 & Completion of at least 90% of courses in the BSMA curriculum
COURSE DESCRIPTION: This is an applied academic experience conducted under joint faculty internship advisor and cooperating agency supervision which requires a minimum of one semester and will include a minimum of 300 contact hours. This may be in the areas of accounting, external audit, internal audit, or tax. Each intern registers for this course which will be given three hours credit. Each internship assignment shall meet the following requirements: 1. 2. 3.
Be substantial and practical, including analysis, evaluation, and application of business, accounting, and auditing concepts; Be subject to periodic documentation of progress and review by both the cooperating agency and faculty internship advisor; and Culminate in a final evaluation prepared by the cooperating agency and a final course grade awarded by the faculty internship advisor.
Students are required to submit a written report documenting the tasks, responsibilities, learning experiences, training, and hours worked. Reports should include comments on areas such as human relations aspects of their work, including leadership and management skills; importance and emphasis on teamwork as opposed to individual work; technical, intellectual, physical, and social challenges; work schedule; and how the B.S. Accountancy / Management Accounting Program course work prepared them for internship. The report should also cover the following: (a) description of key tasks and responsibilities performed during their internship, including their assessment of the most valuable things you learned; (b) evaluation of the training and overall learning environment provided by the cooperating agency; (c) evaluation of their internship experience and how it has impacted their career goals; (d) how well the Accountancy Program prepared them for the internship including a description of how their formal education and work experience interrelate; (e) recommendations for improvement of their specific internship position and the Accountancy Internship Course in general; and (f) total number of hours worked during internship. GUIDELINES: In order to ensure a fair and manageable system to deal with internships, the following guidelines are adopted to serve as minimum requirements for a student to receive internship credit. 1.
Internships are generally reserved for those who are in their senior year or those who have already completed all or most of their major field courses [near seniors].
2.
Credit will only be assigned or accepted in cases where the faculty internship advisor is directly involved in determining both the course content and in evaluating the student's work.
3.
The internship should be purposeful, provide opportunities for reflection, present a continual challenge to the student, and incorporate active learning, with the student as active participant in all stages of the learning experience from planning to evaluation.
4.
Before deployment to the cooperating agencies, the faculty internship advisor shall:
Discuss the guidelines as prescribed in the syllabus of the subject as well as provisions of the memorandum of agreement Orient them on their responsibilities, accountabilities and proper decorum Proper attire/uniform to be used Require the submission of the following: a) Curriculum vitae - in two(2) copies: 1 copy for the advisor and 1 copy for cooperating agency b) Envelope – to place submitted reports c) Index card (5 x 8) – to indicate remarks / summary reports for each intern
5.
The student-intern must discuss the internship plan with the faculty internship advisor before being deployed to the cooperating agencies. The internship plan is prepared by the intern at the beginning of the term, indicating the objectives, the specific/actual work to be done, expected output and the expected time frame. Internships are arranged individually and must be set up before registration so that proper arrangements can be made for supervision of the work, for the type and amount of work to be done, and for evaluation of the work. Unusual internships should be discussed with the Dean's office, endorsed by the Head of the Department of Accountancy, before they are approved for offering to the student. This is accomplished in four(4) copies: st 1 copy - Internship advisor nd 2 copy – Representative of Cooperating Agency rd 3 copy - Head, Department of Accountancy th 4 copy - Intern
6.
The faculty internship advisor prepares the endorsement letter and has it endorsed by the Head of the Department of Accountancy and the Dean of the School of Accountancy and Business Management.
7.
The internship situation must have the following components or elements before it will qualify for giving the student credit: It must be a position in which the student will do work that is directly related to accounting or auditing. The student must be supervised by someone at the internship location who will be in a position to oversee and evaluate the work of the intern. The specific conditions of the internship are to be worked out between this supervisor and the faculty internship advisor in the Department of Accountancy of the School of Accountancy and Business Management. The internship supervisor will accomplish a written evaluation of the student's work at the conclusion of the internship and send it to the supervising faculty member. A written internship plan should be produced and distributed to the student, the faculty internship advisor, and the supervisor at the internship site before the internship begins. This plan should give a good idea of the work to be done, when it is to be done, and how the work will be evaluated. The internship situation must be one in which the student can submit strong and tangible evidence of his or her work to the supervising academic department for evaluation.
8.
The amount of accounting or audit work may vary, according to the difficulty level of such work. However, the faculty internship advisor should expect to receive work of the same quality and volume as would be expected in any course at the same level as the internship course for similar hours of credit.
9.
The interning student's grade will be determined by the faculty internship advisor, based on the following components: the faculty facilitator’s assessment of the student's work done during the internship the on-site supervisor's assessment of the student's work, with emphasis on the student's work directly applicable to the academic area The interning student should note the dates for beginning and ending the evaluation period; he/she must submit the work done and the evaluations in time for the faculty internship advisor to submit the course grade. This time should be set at the beginning of the semester and should be agreeable to the student, the on-site supervisor, and the supervising faculty member
Students need to keep their faculty internship advisor updated on the progress of the internship while away from campus. Periodic Progress report – to be prepared by the intern and should coincide with the internship plan submitted. It includes the objectives, actual work done, expected output, actual output, time frame, and explanation of variance (if actual output is not equal to expected output) This is to be submitted every other two weeks / end of payroll period, signed by both the intern and the on-site supervisor of the intern at the cooperating agency. This form shall be supported by a Daily Time Record (DTR). This is accomplished in three(3) copies: st 1 copy – Faculty Internship advisor nd 2 copy – Representative of Cooperating Agency (optional) rd 3 copy - Intern Final report – to be prepared by the intern at the end of the term, this should be hand-written and not more than three pages. It includes, but not limited to, comments on areas such as human relations aspects of your work; leadership and/or management skills; importance and emphasis on teamwork as opposed to individual work; technical, intellectual, physical, and social challenges; work schedule; etc. The following areas are to be commented by the intern: i. Description of key tasks and responsibilities performed during the internship: ii. Assessment of the most valuable things you learned from the internship: iii. Evaluation of the training and overall learning environment provided by your employer: iv. Evaluation of your internship experience and how it has impacted your career goals: v. How well the Accountancy Program prepared you for the internship (Include a description of how your formal education and work experience interrelate): vi. Recommendations for Improvement of (a) your specific internship position and (b) the Accountancy Internship Course in general: vii. Total number of hours worked during internship This is accomplished in three (3) copies: st 1 copy – Faculty Internship advisor nd 2 copy – Head of the Department of Accountancy rd 3 copy - Intern Internship Evaluation – this is to be filled up by the interning student’s on-site supervisor at the cooperating agency. The evaluation shall be signed and placed in a sealed envelope when submitted to the faculty internship advisor.
10. The faculty internship advisor is expected to make periodic visits (at least once per term – prelim, midterm, final) at the interning student’s work place, so as to monitor their attendance and performance as well as discuss with the on-site supervisor any augmentation/improvement of the program in relation to the intern assigned to them. 11. The faculty internship advisor shall submit a summary report for each interning student on their progress of their internship program with the cooperating agency. The summary report shall cover the prelim, midterm and final term of the semester. It shall include the following information: name of the interning student, name of cooperating agency, date when internship training started with the cooperating agency, total number of hours completed from the date started/date of last summary report, whichever is later, to date this report is prepared, total number of times visited the interning student at the cooperating agency’s office, remarks/comments during the visit. This form shall be prepared in two (2) copies with 1 copy submitted to the Head of the Department of Accountancy and 1 as their file. 12. At the end of the term, the faculty internship advisor shall submit the following to the Head of the Department of Accountancy: Summary report for the final term Final report of each interning student
Summary of Recommendations/Suggestions of Cooperating Agency for the improvement of the Internship Program Evaluation of internship
13. Before the end of the term, interning students shall attend a seminar on topics in relation to employment as coordinated by the Department of Accountancy. * This course description and policies are general statements regarding the internship program of the Bachelor of Science in Accountancy and Bachelor of Science in Management Accounting programs. Standards are to be set by the Head of the Department of Accountancy of the School of Accountancy and Business Management which will be the minimum criteria, rules, and procedures, such as the grading system, that will help ensure the achievement of the course objectives and its policies. * Chapter IV B of the Saint Louis University Student Handbook provides the following. Every student is always identified with the university he belongs. It is his responsibility to help maintain the good image of the university by conducting himself in a manner befitting a Catholic student. Consequently, he should be aware at all times that his behaviour is reflective of the training he gets in the university. While outside the campus he should observe generally accepted rules of conduct and norms of behaviour. It is accepted that accounting/accountancy students who are going to conduct internship activities will interact with persons outside of the university. During internship, students carry with them the name and reputation of Saint Louis University. Their actions are reflective of the values that Saint Louis University has imbued upon them. As such, accounting/accountancy students continue to be connected with the Department of Accountancy. As a symbol of their association with the Department of Accountancy and as a constant reminder of their duty to uphold the values of Saint Louis University, students enrolled in ACCTG 504 shall be required to be in a prescribed uniform wear in carrying out their internship activities. Guidelines for such uniform wear shall be provided for by the Head of the Department of Accountancy. Basis for Course Grade: PRELIMS MIDTERMS Internship Plan 20% Periodic Progress Report 45% 65% Observations during visit 35% 35% Final Report Internship Evaluation Total 100% 100% N.B. The effect of the percentage distribution on the official final grade is: Evaluation of Cooperating Agency (75% x 1/3) Evaluation of Faculty Internship Advisor (Observations): Prelims – 35% x 1/3 11.67% Midterms – 35% x 1/3 11.67% Finals – 5% x 1/3 1.67% Interning Student’s performance: Internship plan – prelims – 20% x 1/3 6.67% Periodic Progress Reports: Prelims – 45% x 1/3 15.00% Midterms – 65% x 1/3 21.67% Finals – 5% x 1/3 1.67% Final report – finals – 15% x1/3 5.00%
TFG 5% 5% 15% 75% 100%
25%
25%
50%
