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Personal Observations

In the course of my internship, I have found the following learning to be of most


1. On handling the documents and accounts of client companies

a. Cash receipts and disbursement transactions vary rather greatly between

industries, even for those which have similar lines of business;

b. It is not uncommon for companies to make inadequate and/or vague

disclosures regarding cash disbursements in the vouchers;

c. Even in the actual workplace, liquidation statements may sometimes be

presented in a manner that is not consistent with its theoretical presentation;

d. Employees (bookkeepers) occasionally commit mistakes in recording the

Sales Transaction, Which further leads to omission or overstated amounts.

e. The files and documents in the office must be kept in proper arrangements to

easily find important documents which are needed.

2. On administrative functions

a. Different clients are dealt with in different ways;

b. Constant communication with the client accrues to the benefit of both the

client and the servicing firm;

c. A great deal of flexibility is needed in dealing with clients who, at some point,

show indifference to matters which relate to their business;

d. No matter how taxing and stiff government rulings are, we eventually have to

follow them; and

e. . The real world is not as compliant with standards and laws as theoretical knowledge would dictate.