Philippine Christian University Dasmarinas City, Cavite
A Narrative Report in Internship Training undertaken at Caballero-Lacsa and Company CPAs (CLCC) located at Amethyst Building Samaloc 3 Dasmarinas Cavite, Philippines
In partial fulfillment of the requirements for the degree of Bachelor of Science in Accountancy
Submitted by: Vher Christopher L. Ducay
Submitted to: Prof. Leo S. Maningding CPA
December 2016
ACKNOWLEGDEMENT With deepest gratitude and appreciation, I humbly give thanks to the people who, with all they can, helped me in making my On-the-Job Training a possible one. To my loving parents and family, for their unending love and support, for providing all my needs financially financially and morally, for their understanding understanding during my tiring days that I can’t help the chores, for their never fading advices and for being there for me no matter what. To my brothers who serve as an inspiration to me, who keep on encouraging me to always make the best out of everything and for their being proud and ever supporting siblings to me. To the institution where I am studying, Philippine Christian University, where I am continuously growing as a Bachelor of Science in Accountancy student. To all my professors who shared and continuously sharing their knowledge with students like me and keep on molding me into a better person. To the Caballero-Lacsa Company and CPAs employees, for their warm welcome to me. To Mrs. Lorna Caballero Lacsa, Managing Partner, for the gu idance and supervision of our work. To Mr. Mark Perez, HR department, for the assurance of the document needed for the internship. To Ms. Pauline Ellao and Ms. Apple Marie Plaza, CLCC Employees, for sharing their knowledge to us to expose and utilize our accounting skills. To my Co-trainees, Co -trainees, the bonding and for the piece of advice given and learning experience shared. Above all, to our Almighty God, for His unconditional love and for all the blessing He is showering upon me each day of life. With love and gratitude, I thank Him for making this On-the-Job Training a possible one. By His grace, I was able to finish this training without any conflict. Most of all, I thank Him for His Word that keeps on reminding me that “I can do all things through Christ who strengthens me.” (Philippians 4:13)
Vher Christopher L. Ducay Bachelor of Science in Accountancy
INTRODUCTION It is the responsibility of the supervisors and managers to utilize available resources to train, qualify, and develop their employees.
Internship is one of the best training methods because it is planned, organized, and conducted at the employee’s worksite, it will generally be the primary method use for broadening employee skills and increasing productivity. It is particularly appropriate for developing proficiency ski lls unique to an employee’s job, especially jobs that are relatively easy to develop, learn and require locallyowned equipment and facilities. To have a successful practicum program, supervisors need to assign a coach to each employee involved in Internship practicum.
It is the responsibility of the coach to plan training carefully and conduct it effectively. The Internship Trainee must be able to cope much with the tasks given to him/her. The Internship coach must in turn observe the trainee as he/she is working on that given task.
COMPANY PROFILE
Caballero-Lacsa & Co., CPAs, formerly Portfolio Consultancy Co. (the “Firm”) was registered with Securities and Exchange Commission (SEC) on May 15, 1998 with registration number A199805351 to engage in the practice in public accountancy providing professional services such as audit and business advisory services, tax, financial, economic and business consulting services.
As a Firm, it has been recognized by the Board of Accountancy (BOA) on October 25, 2004 and accredited by Securities and Exchange Commission (SEC) as an auditing firm for public companies, Group C secondary licensees per SEC Memorandum Circular No. 15 on August 11, 2005. The Firm also accredited by Subic Bay Metropolitan Authority (SBMA) since 2003 providing a full range of professional services and was accredited by BIR with Accreditation No. 04003461-1-2006 issued October 23, 2006.
The Firm is currently being managed by Lorna Caballero-Lacsa, who obtained her Bachelor of Science in Commerce, Major in Accounting from University
of La Consolacion in 1982 and subsequently passed the Certified Public Accountant licensure examination on June 1984. On January 2012, she completed her Masters Degree in Business Administration at Philippine Christian University. On October 12, 2004, she was granted by the Bureau of Internal Revenue (BIR) an accreditation as a tax practitioner to act for and in behalf of taxpayers in the preparation and filing of tax returns, statements, reports, protest and other papers with and/or to appear and transact official business before their office pursuant to provisions of Section 6 (G) of the National Internal Revenue Code of 1997. She worked as Finance Manager with several SBMA locators such as Asian Armoured Vehicle & Tech. Inc. and BICC Brand Rex Inc. before she established her own accounting firm. She also recognized by Cooperative External Auditors Recognition Board of Cooperative Development Authority (CDA) for having satisfactorily complied with the necessary requirements as a Cooperative External Auditor pursuant to CDA Memorandum Circular 2000-07 relative to the Memorandum of Agreement by and between the Cooperative Development Authority (CDA) and the Philippine Institute of Public Accountants (PICPA) on March 04, 2 005. The SEC also granted Ms. Lacsa an accreditation as a Group C external auditor per SEC Memorandum Circular No.15 on August 11, 2005, making her eligible to provide attestation for companies listed under Group C. This accreditation shall cover Financing Companies, Transfer Agents and Companies with more than P15 Million total assets (per BSP Circular No. 439) of the Bangko Sentral ng Pilipinas (BSP).
FIRMS VISION An auditing firm committed to deliver excellent professional service
FIRMS MISSON To contribute to the improvement of its clientele by providing professional, accurate and reliable services and timely information that best helps maximize their profitability.
To fulfill this mission the Firm shall:
encourage innovativeness to help clients align its strategies and processes
develop its human resources to ensure professional and personal growth and approve the things that are excellent while maintaining integrity
endeavor to remain competitive to ensure stability and continued existence
remain committed to its obligation as a good corporate entity.
Daily Accomplishment Report Week 1
Caballero-Lacsa and Co CPAs – this is the office where I was assigned to conduct my Internship Training. On my first day of training, I was very excited and somewhat nervous because of the new environment and the new people surrounding me. I didn’t have any idea of what kind of people they are and it made me adjust myself with their personalities and attitudes. My Training Supervisor accompanied me to my table where I will be staying during my On-theJob Training. During that moment, I felt that I was really an office boy already having my own office chair and table. The first task that my Training Supervisor asked me to do is to update the books of some clients to familiarize myself in the manual bookkeeping program, I wrote the entries and transaction manually in the General Journal, Cash Receipts and Cash Disbursement books. Some may laugh at my first task which is updating some manual books, but they do not know that I’ve learned many things which are related in my chosen course – Bachelor of Science in Accountancy. While writing, I was reading it at the same time. That’s why I was able to learn new things as well as those terms that are already familiar to me related to auditing.
There were two kinds of books which I’m working with. Businesses that are Percentage Tax Payer contain only four books, the General Journal, G eneral Ledger, Sales Journal and Disbursement Journal. While businesses that are VATable contain six books the General Journal, General Ledger, Sales Journal, Disbursement Journal, the Subsidiary Purchase Journal and the Subsidiary Sales Journal.
My first week was really a good start and I was motivated to perform excellently because of what I have already accomplished and because of my Supervisor who was very accommodating and kind to me and to my co-trainee.
Week 2
On the second week of my On-the-Job Training, I was only able to go to work for 4 hours only because there are some trainees applied too so they divide our time into half, our duty is now on 1pm- 4pm. On this week they taught me to encode some receipts and disbursement on the computer using Microsoft excel. They gave us some tips and s hortcuts to be able to finish our work early using the software. They also explained us how the receipts and disbursement affect the Financial Statement of a company. Ma’am Lorna told us that every Saturday, we are required to attend EXCEL, morning devotion at Church of God Dasmariñas, to praise and thank God for a wonderful week of existence. After excel we went to the office to continue our work and I personally meet Ma’am Juvy, one of the Managing Partner of CLCC, she interviewed us and taught as some techniques regarding tax compliance
Week 3
On my third week of training, there are many things that I had accomplished because there is a new client in CLCC named Sigekiya Ramen Incorporaed, a franchised-restaurant from Japan, Ma’am Lorna want us, the trainees, to handle it, starting on manual bookkeeping up to updating their monthly and Interim Financial Statements.
Every time Ma’am Lorna calls me for help, I can feel my heart beating like a drum. She is very strict but an encouraging one. She always tells me to study hard for my family, especially for my parents who are supporting me in every way possible. Back to my accomplishments, I was also asked to reclassify their receipts per year, because they want to know their expense starting year that they opened their business 2014 up to 2016
This 3rd week was a very heavy week but despite of it, I really learned a lot not just academically but socially as well because I learned to adjust myself to the people I am with and I learned to socialize with them in a good manner. Though some of the people there are not so kind, I was still able to handle the situation with them properly.
Week 4
It is a rough week for me because I was not around for 3 days because I was sick, Mr. Mark Perez, the HR told me that If I’m going to be absent I need to informed them the day before I’m going to be absent because they treat us like I’m one of their employee from the start I began my Internship on CLCC all the rules even in absents are now needed to be followed
Week 5
The tasks were getting harder as the days went by. First, My Training Manager ask me to arrange the books of the company according to their respective place, then she told me after I arrange the book there are some receipts and disbursement needed to be encoded and then she told me that after encoding, there are some books needed to be updated as Ma’am Lorna ask to . As usual, with my heart beating so fast because of nervousness, I assisted my Training Manager regarding the documents that he was working on.
I started having normal conversations with the people there. I became more comfortable with them compared to my first week of training. I also started to socialize with other people, especially those who are on higher position. I learned to handle some situations and adjust with the environment where I am conducting my On-the-Job Training. I can say that it was not just my skills and knowledge that were being developed during my training bu t also my personality as a student today and as a future professional someday. This OJT really helped me to be more determined and to be more competitive in everything that I do in life.
Week 6
Another week for another set of works to do. The first thing I did was Update some cash receipts, disbursement, general journal subsidiary ledger and sales journal. After the month of May the books are not updated anymore, so as a trainee I need to be efficient I update some books without telling my training manager and then when she caught me updating some books, at first I taught she’s going to be mad at me, instead, she praised me and told me to keep it up.
I don’t want to just sit on my chair, in front of my table, and waiting for my boss to ask me to do something, but I still learned to behave and to be alert whenever they call me abruptly.
Week 7
The tasks that I did this week were just the other week but there is a little different on this week because one of our client, Metrogate Dasmarinas Estate want to see their 2015 manual books, but when we checked it, it was updated as of the year 2014 so my Training manager tasked me to update all of their books as of December 2015, so from Tuesday up to Friday all I did was to update the book of Metrogate, my arm and fingers were hurting because of writing too much.
Week 8
The tasks that I did this week were just the continuation of the tasks that I did on the previous week, which is to update the books of Metrogate to December 2015. Before I went at the office I enrolled first at PCU for the 1 st Semester for the Year 2016-2017, to be honest I want to absent on that day because all I know is that I’m going to update again the books of Metrogate which I did as of last week. So I told that to my friend and suggested that I should e-mail or text our boss Ma’am Lorna about my issue, so I texted her and she replied to me that we we’ll have a meeting on Wednesday and she told me that I need to come too.
I am so very nervous about what I’ve done but they said it is for my own good .
Week 9
This is the week that we’ll have a meeting, Ma’am Lorna wants us to report to her what’s the update of the companies we handle and she asked our progress in our internship training. I told her that I already know the manual bookkeeping cycle, encoding of receipts and updating the monthly FS of a company, she was pleased
about what she had heard about us, but she told all of us that we don’t stick on that kind of work we know in the 2nd half of our internship, she want us to be exposed on Tax compliance and Audit so she want us to come with Ma’am Juvy together with Sir GV Charni and Jonimar to go to Blaggan Lending Services to exposed our self on audit world
On that day we went to Blaggan Lending Services and exposed our self on what’s going to do when you are a auditor
And this week I was so happy because my Training Manager taught me how to send some Tax compliance on BIR though online
Week 10
I learned another things this week, First I used the software GL sure at Metrogate Dasmarinas Estste, this is the software they used to encode all of their transactions and send it to CLCC to update their FS, I was fascinated about it because it is programmed only for accountancy, it is very helpful because it is so easy to use, but of course at first it is little confusing but if you master it, it is so easy for you to record all the transactions. Then I learned to use the VAT relief software, it to separate all transaction that is VATABLE and VAT EXEMPT after you encode all of their receipts
I’m so happy when I learned something on my Internship training course, I learned things that outside the school
Week 11
On this week I requested that I will know go to office at 8 am-5pm (8 hours) to be able to finished my Internship before the semester starts, I estimated it that I only have 3 weeks left in my Internship
It was a busy week because there are so many deadlines ahead of us First is the tax compliances then the some companies are giving us their receipts and finally the books are now not updated
I learned to work under pressure on this Internship, I need to finished a work after another, and even thou I’m only a trainee, they divide the work equally to finished all of our work on time
Week 12
This week is only a continuation of last weeks work, I helped my co trainees to lessen their works, I encoded a lot of receipts just to minimize the work line of our company, not just encoding of receipts I encode also the Vat relief of all the receipts, I also prepared some tax compliance and sent it to M a’am Glenda for review and comments before sending it to BIR
On the same week, we went to some companies for their monthly audit, I was exposed to various errors like wrong encoding of journal entries, misleading of amounts and unrecorded receipts
Lastly, we went to Accuthermtech located at FCIE on Trece Martirez to visit them for their first audit visit, we are shocked that, their old accountant mislead some of their account and stole from their money and worse they don’t file a tax compliance in BIR
Week 13
This is my last week of Internship Training and I still need to finish and to perform the tasks assigned to me. First, I encoded some VAT relief and cash receipts and disbursement and then I helped them to assemble the 3 sets of computer and connect it to make connections between all the computers. I was happy because I will finally finish my training but somehow sad because I will be leaving the office where I had lots of memories and I will be missing the people that became close to me for a period of time. Despite the sorrow of leaving them, I am still happy that once in my life, I have met people like them in my life who taught me things related to my chosen course, and most importantly, they helped me to be the best that I can be. They are the ones who helped me in molding myself to be the individual I am right now. They challenged my skills, abilities and knowledge and gave me a chance to prove myself to them. It is a very heartwarming thing to know that there are people who believe in me. I’m very grateful because I made them proud of what I have accomplished during my training and they were very thankful for everything that I have helped them with.
CONCLUTION Nothing beats experience as the perfect learning tool. This Internship Training served as my stepping stone to pursue my dream to be a Certified Public Accountant someday. This training gave me an inspiration to be more serious and focused in studying. I was encouraged to do more efforts in my studies. Since I was given some ideas about the work of an auditor in the company where I conducted my training, I am inspired to be like them someday. Despite the short period of my training, it was still a very meaningful one. The training enriched my confidence created a foundation of being a good employee someday. It caused a very huge effect to me as a Bachelor of Science in Accountancy Student. I was really renewed. I learned to be diplomatic in both action and words. This training made me realize that it is really good to know what you’re doing, and to love it. As a student, what I can do for now is to learn whatever I can in school, be inspired, love the path I am taking, and do my best in everything I do, with a positive outlook in mind. I realized that I should be more focused in school and do everything heartily and with all that I can. It is also very warm to the heart to know that you have accomplished something and even warmer when there are people who are so proud of what you have done and I felt this feeling during my On- the-Job Training. It inspired me to be more determined and competitive in everything that I do in my daily life as a student today and as a professional someday. My On-the-Job Training is very helpful and will be very helpful to me as I continue to take my journey as a fourth year student in the field of Accountancy. It really gave me a taste of the real world – a glimpse of what lies ahead after I graduate.
Philippine Christian University City of Dasmariñas, Cavite ON THE JOB TRAINING EVALUATION
Bachelor of Science in A ccountancy NAME OF STUDENT: Ducay, Vher Chirstopher L. Cooperating Company: Caballero-Lacsa and Co., CPA Address: Unit 1, Amethyst Bldg., Metro Gate Estate Emilio Aguinaldo Highway, Sampaloc 1, Dasmariñas, 4114 Cavite Telephone No.: (046) 431 4971
Please rate the performance of the student (s) b ased on the following CRITERIA: Attendance / Punctuality
10%
____7____ %
Ability to learn
10%
____10___ %
Ability to cope up with the work standards
15%
____12___ %
Accounting Proficiency (Application of GAAP)
15%
____15___ %
Quality of work accomplished
20%
____18___ %
Attitudes towards the supervisors/peers
15%
____15___ %
Personality (grooming/hygiene/cleanliness)
10%
____10___ %
Social Skills
5%
____3____ %
100%
____90___ %
GENERAL AVERAGE COMMENTS/SUGGESTION
Vher is hardworking, easy-learner, approachable, diligent and gumptious. But, he must observe time and manage to excuse himself a week before his leave. To sum it all, we would like to congratulate Vher in completing his 300-hour training. We are proud to have him as our trainee and we are also hoping to work with him soon.
RATER INTERPRETATIONS: _____________________________ OUTSTANDING VERY SATISFACTORY SATISFACTORY FAIR NEEDS IMPROVEMENT
95 – 100 % 90 – 94 % 85 – 89 % 80 – 84 % 75 – 79 %
(Signature over Printed Name)
Philippine Christian University Dasmariñas Campus
COLLEGE OF BUSINESS AND TECHNOLOGY
August 24, 2016 MR. MARK ANTHONY PEREZ Human Resource Associate Caballero-Lacsa & Co., CPAs Sampaloc 1, City of Dasmariñas, Cavite
Dear Madam: Mr. Vher Christopher L. Ducay is a 4th year Bachelor of Science in Accountancy student of our school, Philippine Christian University, Dasmariñas City. He is enrolled in Accounting Internship, a 3-unit course, this First Semester of the Academic Year 2016-2017. The subject requires the completion of 300-hour internship training to enhance the competency of our accounting students.
Mr. Ducay has informed us he has filed an application to undertake her accounting internship in your company. In this connection, we would like to endorse Mr Ducay’s request to have his training in your office. Mr Ducay has been one of our conscientious accounting students. May we request your confirmation of this undertaking by signing on the space provided below. Thank you very much for your kind attention. Very truly yours,
Noted by:
Confirmed by:
DR. JENNIFER B. RAQUION Acting Dean, College of Business and Technology
MR. MARK ANTHONY PEREZ Human Resource Associate Caballero-Lacsa & Co., CPAs City of Dasmariñas, Cavite
MEMORANDUM OF AGREEMENT INTERNSHIP PROGRAM FOR ACCOUNTANCY STUDENTS KNOW ALL MEN BY THESE PRESENTS:
This agreement is made and entered into by and between Philippine Christian University, Dasmariñas Campus and the Cooperating Institution/Company. PHILIPPINE CHRISTIAN UNIVERSITY (PCU) through the College of Business and Technology, with principal address at Dasmariñas, Cavite, represented by its Acting Dean, Dr. Jennifer B Raquion - and – CABALLERO-LACSA & Co.,CPA with principal address at Dasmariñas City, Cavite represented by its Human Resource Assistant, MR MARK ANTHONY PEREZ , referred to as “COOPERATION PARTY” hereby agrees:
1. That the inclusive internship period shall be for 300 hours. 2. That the cooperating institution/company shall not be held liable to the student-intern for any fortuitous event that may happen in the course of the internship training. 3. That the cooperating institution/company shall closely supervise the intern in the undertaking of their approved plan of work or activities. 4. That the faculty handing the subject Accounting Internship shall visit the intern at least once during the period of internship. 5. The student-intern shall observe the policies, rules and regulations of the cooperating institution/company and school standards. 6. That the cooperating institution/company shall evaluate the performance of the intern and shall issue a certificate of completion for 150-hou r accounting internship. This agreement shall take effect upon approval of the both parties, shall continue to be in effect until amended/repealed by mutual written co nsent of the parties. IN WITNESS WHEREOF , the parties have hereunto signed this agreement this ________ day of _______________ 20___. PHILIPPINE CHRISTIAN UNIVERSITY (PCU)
BY:
CABALLERO-LACSA& Co., CPAs (Cooperating Party)
BY:
DR. JENNIFER B. RAQUION MR. MARK ANTHONY PEREZ Acting Dean, College of Business and Technology Human Resource Associate SIGNED IN THE PRESENCE OF:
MR. LEO S. MANINGDING
MR. VHER CHRISTOPHER DUCAY
Faculty Adviser
BSA Student-Intern
VHER CHRISTOPHER L. DUCAY Blk16, Lot 22 Phase I Yakal St. Villa Luisa Subd Dasmariñas Cavite Contact Number: 09069552106 Email:
[email protected]
OBJECTIVES:
Seeking a summer internship with well-respected accountants whom can utilizes and develop my accounting knowledge and the discipline and focus that I bring to my work JOB DESCRIPTION:
Help with month-end financial reports
Work under supervision of other accountant
Assist with the preparation of balance sheet and other internal reports
File and scan journal entries
PERSONAL INFORMATION: Date of Birth: January 24, 1996 Age: 20 years old Gender: Male Nickname: Vher Mother: Imelda Ducay
Father: Vergel Ducay Religion: Roman Catholic Place of Birth: San Juan Metro Manila Status: Single
EDUCATIONAL ATTAINMENT TERTIARY EDUCATION School: Philippine Christian University (PCU) Course: Bachelor of Science in Accountancy (BSA) Address: Sampaloc III Emilio Aguinaldo Highway, Dasmarinas City Year: 2011-Present
SECONDARY EDUCATION School: Mabini Colleges Address: Gov. Panotes Ave. Daet Camarines Norte Year Graduated: 2010-2011
ELEMENTARY SCHOOL School: Gems International School Address: Jeddah Saudi Arabia Year Graduated: 2009-2010
TRAININGS AND SEMINARS
Road Imaging Success and Excellency Seminar Philippine Christian University (2015) Leadership Training Seminar Green Papaya Hotel, Silang, Cavite (2012 and 2015)
Accounting Seminar Philippine Christian University-AVR (2013) First Aid Seminar Philippine Christian University (2014)
ORGANIZATIONAL AFFILIATIONS
Junior Philippine Institute of Accountants 1. Ambassador of Goodwill: 2011-2013 2. VP Membership: 2013-2014 3. VP Non-Academic: 2014- Present Dulaang PCU 1. Member: 2013-2014 2. Assistant Dance Coordinator: 2014-2015 3. VP Internal: 2015-Present
CHARACTER REFERENCES
Leo S. Maningding Philippine Christian University Faculty, College of Business and Technology 09166476131 Imelda L. Ducay Diamond Village, Salawag Dasmarinas Cavite 09281719925
[email protected] Charni F. Sepanton Mabuhay Homes 2000 Paliparan II • Dasmariñas, Cavite Paliparan II Dasmariñas Cavite 09161942633
[email protected]
Vher Christopher L. Ducay Applicant
