Final Written Report and Portfolio in

 

FINAL WRITTEN REPORT AND PORTFOLIO IN ACCTG 411: INTERNSHIP/THESIS IN ACCOUNTING

Presented to The Deprt!ent o" A##o$nt%n& Ed$#t%on U' T&$! Co((e&e T&$! C%t)

In Prt%( F$("%(!ent o" the Re*$%re!ents "or the De&ree +#he(or o" S#%en#e %n A##o$nt%n& Te#hno(o&)

RONIE A, OLARTE SEPTE'+ER -.1

 

  NAME OF TRAINEE

: Ron%e A, O(rte

HOST TRAINING ESTABLISHMENT

: C0h$&Soo +oo22eep%n& nd Ins$rn#e

 ADDRESS

:

3h%n&#he)

+(d&,

R%5(

St,

T&$! C%t) NAME OF THE HEAD OF OFFICE

: G(e%5(e 6o) C, Soo  CPA

DURATION OF THE TRAINING

: ') 17 -.1 8 6$ne -4 -.1

NUMBER OF HOURS IN TRAINING

: 19. ho$rs

PRACTICUM ADVISER

: 'r) Cr%s L, L$5d CPA CPA 'SA

 

CERTIFICATE OF CO'PLETION

 

AC3NOWLEDG'ENT I would not reac were I a! toda" w#tout te contr#$ut#on o% te&e nu!e nu !ero rou& u& 'e 'eo' o'le le w wo o e( e(te tend nded ed t te# e#rr a and nd& & to e el' l' !e ac ac# #e) e)e e !" a&'#rat#on& #n l#%e* I would l#+e to e(tend !" eart%elt ,rat#tude to te %ollow#n, 'er&on&To our O.T coord#n coord#nator ator and ad)# ad)#&er &er// Pro", 6net 't$&$%ns CPA '+A and Pro", 'r) Cr%s L$5d CPA 'SA/ 'SA / %or &ar#n, w#t u& te#r t#!e and an d +n +now owle led, d,e e an and d %o %orr t te e re!# re!#nd nder er& & an and d ad ad)# )#ce ce& & to e0 e0u# u#' ' u& w#t #t  a''ro'r#ate att#tude toward& our HTE& and ow to act 'ro'erl" not 1u&t %or our  own $ene%#t $ut al&o to to&e wo would $e %ollow#n, u&/ !o&t e&'ec#all" %or  $e#n, our &econd 'arent&2 To Gle#3l .o" C* Soo/ CPA CPA// .ell"!ee E&'#no3a/ C"rel Dela Cerna/ Ana Ana Ro&e Mon1a&/ .oan A!otor#a/ A!otor#a/ 4uee 4ueen n Ann Flor I&rael/ Carlo& Galen3 Galen3o,a o,a o%  Ca$au,5Soo Boo++ee'#n, and #n&urance o%%#ce %or te 'at#ence/ +nowled,e and e('er#ence& $e#n, &ared to u&* It wa& a %un5%#lled e('er#ence and at te &a!e t#!e %ull o% new learn#n,&2

To Bernadette M* Fe&t#n/ Fe$#e .ane P* Solon/ and .on Paul Sala/ !" co5#ntern& and %r#end&/ %or te ca!arader#e and %or !a+#n, !" colle,e l#%e %ull o% %un2 To Pro%n#%( Goern!ent o" Co!poste( ; ;((e) ((e)// %or te &colar&#' te" ,ranted on !e* O% cour&e/ I would l#+e to tan+ !" %a!#l" %or te#r unwa)er#n, lo)e/ &u''ort and under&tand#n,* Te" are !" &ource o% #n&'#rat#on* A$o)e all te&e t#n,&/ to Al!#,t" God/ to wo! 'ra#&e&/ ,rate%ulne&& and ,lor" &ould $e

 

,#)e ,#)en/ n/ %o %orr all all t te e +n +now owle led, d,e e an and d w# w#&d &do! o! an and d %o %orr al alll t te e $l $le& e&&# &#n, n,& & He $e&towed u'on !e*

TA+LE OF CONTENTS P&e CO;ER PAGE

%

INTERNREFLECTION?



New S+#ll& Ac0u#red and I!'ro)ed

9

Mana,e!ent Tecn#0ue& O$&er)ed

:

Cla&&roo! S+#ll& E!'lo"ed

;;

Pro$le!& Encountered

;;

Bu&#ne&& Callen,e&

;6

Le&&on& Learned

;<

CONCLUSIONS

1@

 

RECO''ENDATIONS

1

SPECIAL REPORT  A* Introduct#on

DAIL ACCO'PLISH'ENT REPORT DAIL TI'E RECORD DOCU'ENTATION ANNE=ES Me!orandu! o% A,ree!ent  A''l#cat#on Letter and Re&u!e Re&u!e Endor&e!ent Letter  Parental or Guard#an Con&ent Cedula and Puro+ Clearance Med#cal Cert#%#cate& and oter Med#cal Record P&"colo,#cal E(a!#nat#on Re&ult PORTFOLIO RU+RIC

INTRODUCTION In t#& !odern world/ co!'et#t#on #& u$#0u#tou&l" u$#0u#tou&l"** For tat rea&on rea&on// UM Ta,u! Colle,e a#!& to 'roduce ,raduate& wo are not 1u&t +nowled,ea$le $ut al&o !ore 0ual#%#ed tan countle&& oter& all around te world* Go#n, to a colle,e or un#)er&#t" #& a cr#t#cal &te'/ $ut te" can ,reatl" ena en anc nce e te# te#rr cla& cla&&r &roo oo! ! lear learn# n#n, n, $" ,a ,a#n #n#n #n, , re real al wo worl rld d e( e('e 'er# r#en ence ce

 

trou, On5te51o$ tra#n#n, 'ro,ra!* A& wat te"=)e &a#d/ >e('er#ence #& te $e&t teacer?* B" e('o&#n, &tudent& to te real wor+ 'lace #& &o!et#n, tat can $e u&ed $" te &tudent& #n te#r %uture 1o$* It !a+e& te! %le(#$le enou, to ad1u&t #n te real wor+ 'lace at!o&'ere* It de)elo'& te#r #nter'er&onal &+#ll& and &oc#al ada'ta$#l#t" ada'ta$#l#t"** On5te On5 te51o 51o$ $ tra tra#n# #n#n, n, #& )e )er" r" $e $ene% ne%#c# #c#al al to all &tu &tuden dent&* t&* In add add#t#o #t#on n #n ,a#n#n, ,reat e('er#ence to co!'lete cla&&roo! learn#n,/ colle,e #ntern&#'& allow& allow & te! to #!'ro) #!'ro)e e te#r 'ort%ol# 'ort%ol#o o or re&u! re&u!e e and !a+e )alua$le #ndu&tr" contact& tat can $e e&&ent#al to land#n, te#r #deal 1o$ u'on ,raduat#on* @e we were re $e# $e#n, n, all allowe owed d to c coo& oo&e e our o& o&tt tra tra#n# #n#n, n, e&t e&ta$l a$l#& #&!en !entt a!on, an" account#n, %#r!&/ $u&#ne&& #n&t#tut#on& and ,o)ern!ent a& lon, a& we wou would ld $e a&& a&&#,n #,ned ed #n te acc accoun ount#n t#n,/ ,/ aud aud#t#n #t#n, , and $u $ud,e d,ett &ec &ect#o t#on n or  de'art!ent* T#& #& to $e tra#ned were #n te %our %#eld& o% accountant were we are !ore #ntere&ted* Tat=& w" I co&e Ca$au,5Soo Boo++ee'#n, and In&urance o%%#ce %or !" !" on5te51o$ tra#n#n,* Tere are two !a#n rea&on w" I co&e Ca$au,5Soo Boo++ee'#n, and In&urance o%%#ce* F#r&t #& $ecau&e #t #& account#n, %#r! and &econd $ecau&e o% #t& 'ro(#!#t" to te &cool* M" wole e('er#ence #n te %#r! wa& ,reat $ecau&e o% te 'eo'le I=)e $een $e en w# w#t t an and d al&o al&o to t te e e! e!'l 'lo" o"ee ee w wo o wa war! r!l" l" we welc lco! o!e e u& u&** It %u %urt rte er  r  enanced !" +nowled,e and &+#ll& wen #t co!e& to account#n,* Al&o/ #t #!'ro)e& !" 'er&onal#t" not 1u&t a& a &tude &tudent nt $ut al&o a& a wor+er wor+er**  A& a &tudent I real#3ed now ow #!'ortant #& on5te51o$ tra#n#n, 'ro,ra! #&* It el'& !e d#&co)er &+#ll& tat I tou,t I lac+ It* #& #ndeed a el'%ul tool #n order %or u& to 'ut #nto 'ract#ce te teor#e& we learned #n &cool*

DESCRIPTION OF THE PLACE'ENT PL ACE'ENT EN;IRON'ENT

 

Cabahug–Soo Accounting and Insurance Ofce H%stor) o" the F%r! Te Ca$au,Soo Account#n, and Aud#t#n, O%%#ce &tarted on te "ear  68* T#& wa& or,an#3ed $" te Cert#%#ed Pu$l#c Accountant $" 'ro%e&&#on Gle#3l .o" C* Soo/ @#t te coo'erat#on o% one o% er tru&ted &tudent& dur#n, er 'art5t#!e teac#n, #n St* Mar"=& Colle,e o% Ta,u! / na!el" Conn#e Co&are&5Cotana&/ te %#r! wa& a$le to &ee+ %or 'ro&'ect#)e cl#ent& and ,raduall" render account#n, and cler#cal &er)#ce&to te $e&t o% te#r  a$#l#t" and a!'le +nowled,e*  A&#de %ro! $e#n, a 'ro%e&&#onal accountant/ Mr&* Soo dec#ded to )enture #n t#& t"'e o% #ndu&tr" 'r#!ar#l" $ecau&e o% te #n%luence o% er  %ater/ Mr* Mana&&e Ca$au,/ wo wa& al&o a 'art5t#!e $oo++ee'er o%  &o!e +nown $u&#ne&& e&ta$l#&!ent&/ #nclud#n, #& !an'ower a,enc"/ te Spu Sputni tnik k Janit Janitoria oriall & Allie Allied d Ser Servic vices es* Trou Trou, , t# t#&/ &/ Mr Mr** Man Mana&& a&&e e $eca!e not onl" te 'r#!e contr#$utor $ut al&o te !o&t e&&ent#al !entor  to o'erate t#& %#r! &ucce&&%ull"* In %act/ e e)en %orwarded t#& endea)or  to #& dau dau,t ,ter er// alo alon, n, w#t w#t  #& cl#ent cl#ent&* &* E)e E)entu ntuall" all"// nu! nu!$er $er& & o% cl#ent cl#ent& & au,!ent* Te %#r&t o%%#ce wa& located at Erl"n V#lle/ Br,"* San M#,uel/ Ta,u! C#t"/ were te %a!#l" 'r#nc#'all" re&#de&*  A%ter < "ear& o% tr#u!' and ad1u&t!ent&/ te %#r!=& de)elo'!ent a)e ,r ,row own n an and d e( e('a 'and nded ed 'ro! 'ro!#n #nen entl" tl"** T Tat at wa wa& & w wen en Mr Mr&* &* So Soo o $e $e,a ,an n acce't#n, On5Te5.o$ Tra#nee& and ten tran&%erred to a !ore e%%#c#ent

 

and acce&&#$le locat#on to #!'ro)e con)en#ence and enance 'ro!ot#on %or 'otent#al cl#ent&* Fro! tat t#!e u' to 're&ent/ #t o'erate& at Soo Bld,* R#3 R#3al St*/ St*/ Ta,u ,u! ! C#t" C#t"** On t te e &u &u$& $&e0 e0ue uent nt "e "ear ar// du due e to 'e 'er& r&on onal al #ncl#nat#on&/ er 'artner M&* Conn#e anded o)er er re&'on&#$#l#t#e& to te %#r&t e)er tra#nee& o% te %#r!/ na!el" .ell"!ee E&'#no&a and 4ueen Ann Flor I&rael/ and cea&ed to cont# cont#nue nue er &er) &er)#ce #ce w#t te %#r!* Te two are no lon,er tra#nee& $ut rater $eca!e te re,ular $oo++ee'er& o% te %#r!* Unt#l now/ te" l#n,er te#r lo"alt" to render te#r +nowled,e and &+#ll& trou, te %#r! w#t te !ana,e!ent o% Mr&* Soo* At 're&ent/ tere are %#)e 'lea&ant e!'lo"ee& #n te %#r!* Tu&/ a& t#!e ,oe& $" new e!'lo"ee& are #nte,rated a& well a& lot& o% cl#ent& are &t#ll a''eal#n, %or te#r &er)#ce&/ and an d #n tu turn rn te te %# %#r! r! #& )e )er" r" en ent tu& u&#a #a&t &t#c #c #n &e &er) r)#n #n, , t te# e#rr cl#e cl#ent nt& & w# w#t t 'rudence and %ull one&t"

Or&n%5t%on( Str$#t$re

 

 JCG LLY YE #ZZE E L E  EJ! SEY PLC ""A OSC ZOOE AO "C A

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F$n#t%ons/Deprt!entt Ass%&ned F$n#t%ons/Deprt!en 

Sole Pro'r#etor  Mana,e& te o)erall o'erat#on* Cec+#n, and a''ro)#n, all te tran&act#on and out'ut o% te • •

o%%#ce cler+&*



•

Reco!!end& %#nanc#al act#on& $" anal"3#n, account#n, o't#on&*

•

E(a!#n#n, %#nanc#al record& o% cl#ent&*

E(ecut#)e a&&#&tant Ma+#n, a &u!!ar#3e re'ort o% all te cl#ent& tran&act#on* Mana,e& te o)erall o'erat#on wen te &ole 'ro'r#etor #& on •

•

$u&#ne&& tr#'* •

En&u En &ure re t tat at &t &tat ate! e!en ent& t& and and re reco cord rd& & co co!' !'l" l" w# w#t t la law& w& an and d re,ulat#on&*



O%%#ce cler+& •

Mana,#n, 'ett" ca& tran&act#on&*

 

•

Calculat#n, and cec+#n, to !a+e &ure 'a"!ent&/ a!ount& and record& are correct/ an&wer#n, an" 0uer#e&*

•

Pre'ar#n, te %#nanc#al record& o% cl#ent&*

•

Doc ocu! u!en ent& t&

%# %#na nanc nc#a #all

tr tran an&a &act ct#o #on& n&

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ent nte er# r#n, n,

acc cco oun untt

#n%or!at#on* •

Mon#tor ta( 'a"!ent& o% cl#ent*

•

Su!!ar#3e& current %#nanc#al &tatu& $" collect#n, #n%or!at#on2 're'ar#n, $alance &eet/ 'ro%#t and lo&& &tate!ent/ and oter  re'ort&*

•

Co!' Co !'ut ute e ta ta(e (e& & ow owed ed// 're' 're'ar are e ta ta( ( re retu turn rn&/ &/ en en&u &ure re 'r 'ro! o!'t 't 'a"!ent*

•



Pre'are& a&&et/ l#a$#l#t"/ and ca'#tal account entr#e& $" co!'#l#n, and anal"3#n, account #n%or!at#on*

Collector  •

Collect& cl#ent=& ta( 'a"!ent %or 'ro!'t 'a"!ent to te BIR*

•

Collect& &er)#ce %ee and #n&urance 'a"!ent*

•

Del#)er !e!o&note& to te cl#ent&*

S$!!r) o" D$t%es nd Respons%0%(%t%es Te&e are te dut#e& I ad 'er%or!ed dur#n, !" on5te51o$ tra#n#n, #n Ca$au,5Soo Boo++ee'#n, and In&urance O%%#ce* 

Per%or!ed Ta(5Related Dut#e& Te %#r! o%%er& #& a w#told#n, a,ent* @#t t#&/ I %#led ta( return& o%  te cl#ent& and 'a#d te ta( due& #n Land$an+/ RCBC and Metro$an+* I ad a d al&o al&o u' u'da date ted d t te e T#n Val#da l#dat# t#on on Sl Sl#' #' o% t te e cl#e cl#ent nt& & an and d !a !ade de

 

#n)e #n)ent ntor" or" o% t te e ta( 'a 'a" "!en !ent& t& o% a re ret# t#r# r#n, n, $u $u&# &#ne ne&& &&** I a ad d al al&o &o e('er#ence co!'ut#n, out'ut ta(e& o% )ar#ou& $u&#ne&&e&*



Per%or!ed Account#n,5Related Dut#e& I wa& ta&+ed to cec+ te $alance& o% eac &tate!ent o% account o%  te cl#ent to en&ure #t& rel#a$#l#t"*



Per%or!ed Ban+#n, Tran Tran&act#on& &act#on& I wa& ta&+ed to de'o&#t cec+ at BDO/ MetroBan+/ RCBC and BPI and 'a#d te ta( due& o% te cl#ent& at certa#n $an+ #n&t#tut#on&*



Oter Re&'on&#$#l#t#e&  A&#de %ro!

'er%or!#n, account#n, related

ta&+&/ I

al&o

'er%or!ed oter ta&+&* I wa& al&o ta&+ed to $ou,t o%%#ce &u''l#e&/ 'otoco'#e 'oto co'#ed d and &can &canned ned docu docu!ent& !ent&// %#led cl#ent& docu docu!ent& !ent&// and a!on, oter t#n,&* Te" al&o ta&+ed u& to an&wer 'one call %ro! cl#ent* A& O.T& at te %#r!/ we al&o &ee to #t tat we alwa"& +ee' te %#r! clean w#tout te de!and o% our &u'er)#&or*

PRACTICU' E=PERIENCE >REFLECTION? I/ Be Bern rnad adet ette te// Fe Fe$# $#e e an and d .P de dec# c#de ded d to un unde derta rta+e +e ou ourr on on5t 5te5 e51o 1o$ $ tra#n#n, at Ca$au,5Soo Boo+++ee'#n, and In&urance o%%#ce &#!'l" $ecau&e o% #t& 'ro(#!#t" to te )#c#n#t" o% UM Ta,u! Colle,e* S#nce we are attend#n, our &u!!er cla&& at e)en#n, &o we dec#ded to ta+e te 9 our& 'er da" durat#on to %#n#& our O.T #n 1u&t a !ont* @e $el#e)ed tat we can a)e a $etter e('er#ence at te %#r! and can $e clo&el" &u'er)#&ed and d#rected $" our &u'er)#&or &#nce tere were onl" tree o% u& tra#nee&* It wa& on Ma" ;6 t#& "ear wen we &tart our on5te51o$ tra#n#n, at Ca$au,5Soo Boo++ee'#n, and In&urance O%%#ce* On tat da" te %#r&t t#n, co!e& u' on !" !#nd #& ow I=! ,o#n, to ad1u&t on t#& new en)#ron!ent*  Altou, #t #& not !" %#r&t t#!e to wor+ &#nce I=! a SPES ,rantee #n our  !un#c#'al#t" $ut &t#ll I %eel a $#t ner)ou& a& well a& e(c#ted*

 

I=! )er" 'lea&ed w#t te war! welco!e o% te e!'lo"ee* At %#r&t te" #n%or!ed u& te do=& and don=t& o% te %#r!* Te" e)en told u& tat we &ould not addre&& te! a& !aa!&#r $ut rater we &ould call te! a& ate+u"a e(ce't %or !aa! Gl#e3le .o"* On te )er" %#r&t da" te ta&+ed te" ,a)e to u& #& to 'a" !ontl" ta(e& to te Land$an+ &#nce #t #& deadl#ne %or te 'a"!ent o% !ontl" ta(e&* @e we=re )er" &oc+ wen te" ,a)e u& al!o&t P