Samuel A. Madayag Final Report PDF

MABALACAT CITY COLLEGE
PRACTICUM REPORT: TRAINING EXPERIENCE INC

ZAMBALES RURAL BANK
Mc Arthur Highway, Dau Mabalacat City, Pampanga
January 07, 2019 – May 29, 2019
A Practicum Report Presented to the Faculty of

Institute of Business Education, Mabalacat City College,
Mabalacat City, Pampanga
In Partial Fulfillment of the Requirement for the Degree of

Bachelor of Science in Accounting Technology
By:
Samuel A. Madayag
May 2019
APPROVAL SHEET
This journal entitled “PRACTICUM REPORT: Training Experience in
“Zambales Rural Bank” prepared and submitted by Samuel A. Madayag, in partial
fulfillment of the requirements for the degree Bachelor of Science in Accounting
Technology has been examined for acceptance and approval.
Approved by the Committee with a grade of .
Accepted and approved in partial fulfillment of the requirements for the
degree Bachelor of Science in Accounting Technology.
COMMITTEE
REYNALDO L. LAXAMANA, MBM, DMB(car)
Practicum Coordinator
Date
REYNALDO L. LAXAMANA, MBM, DMB(car) Dr. Myrna C. Calma, CPA
Dean, Institute of Business Education VP for Academic Affairs
Date Date
Institute Of Business Education i

ACKNOWLEDGEMENT
This success would not have been possible without the guidance and the
help of several individuals who in one way or another contributed and extended
their valuable assistance in the completion of the requirement of the intern.
A big thanks to all the people behind this success. First, to our Almighty
God who never failed to help the intern through the times of hardships, for giving
him the knowledge and the courage to do the assigned tasks during the internship
and for giving him the strength to face every challenge with ease and confidence.
His unconditional love and guidance has made the intern stronger than he was
before, leading him to the completion of the said internship.
To the dean of Institute of Business Education, Mr. Reynaldo L. Laxamana,
for providing necessary instructions and advices to the intern which had been a great
help during the training.
To Ms. Jonalyn L. Angeles, company branch manager; and to all the staff of
Zambales Rural Bank, for giving the intern the opportunity to be part of their
company, to be trained and be knowledgeable about the current trends in the
industry and for their efforts and kindness to assist him during the training.
Lastly, to the parents and relatives of the intern, for giving him unending
love and support to continue on fighting and striving to achieve his goals, for
providing him the needs in financial matters and for helping him all throughout the
training.
Institute Of Business Education ii

TABLE OF CONTENTS
TITLE PAGE
APPROVAL SHEET................................................................................................. i
ACKNOWLEDGEMENT......................................................................................... ii
TABLE OF CONTENTS........................................................................................... iii
INTRODUCTION......................................................................................................1
Vision, Mission & Beliefs of the Company………………………… 2
Logo of the Company...................................................................................3
Location Map…............................................................................................3
History/Background of the Company...........................................................4
Organizational Structure...............................................................................5
Service Offered….........................................................................................6
CONTENT
Summary of Weekly Activities.................................................................... 7
Strengths....................................................................................................... 10
Weaknesses.................................................................................................. 10
Company Problems
as perceived by the company........................................................................12
as perceived by the practicumer................................................................... 12
SUMMARY/CONCLUSION.................................................................................... 13
RECOMMENDATION............................................................................................. 14
Institute Of Business Education iii

APPENDICES
Appendix A - Company Facilities and Employees
Appendix B - Photos During OJT Proper
Appendix C - OJT Requirements
Practicum Endorsement
Certificate of Completion
Evaluation Form
Waiver
Weekly Report
Appendix D - Grammar Critic Certification
Appendix E – Curriculum Vitae
Institute Of Business Education iv

INTRODUCTION
The knowledge of a student gained from the college professors are
not enough when only learned by pure imagination. That is why an internship or the
so-called OJT (On-the-Job Training)is created. This serves as a way that gives
students a chance to apply the lessons learned from the school.
On the job training (OJT) is a form of training taking place in a normal
working situation. It helps the students to obtain applicable knowledge and skills by
performing in actual working setting. The training is a part of the curriculum that
aims to train and orient students about the work and their future career. Trainees are
acquainted in a formal real-life work environment that enables them to understand
and respond better.
On the part of the trainees, it is an opportunity for them to undergo through
training before applying for work since it will help them enhance their skills and
gain knowledge about their future careers. This training would also give them ideas
on how it really feels like being in a company, doing real practices using real
documents, and dealing with different types of people.
On the other hand, companies would also benefit from the trainees since they
can also impart their knowledge for the success of the company. Aside from that,
additional manpower could help the company achieve its goals timely and efficiently.
Institute Of Business Education 1

COMPANY PROFILE
Vision
The Zambank will position itself as the leading force in Zambales and within the
region in bringing the benefits of the economic system to increasing number of rural
customers through a strong and responsive rural banking operation.
Mission
The Mission of the Zambank, Inc is:
1. To offer quality banking services to all clients;
2. To inculcate service, integrity and good training to all officers and staff
3. To comply with regulatory requirements; and
4. To promote the welfare of the banking communities in which the bank operates.
Beliefs
1. Integrity, professionalism, resourcefulness and team work
2. People are our most important service.

Logo of the Company
Location of Company map

History/Background of the Company
The Rural Bank of Castillejos, Inc. was established in May 27, 1947 with an
initial capitalization of P110, 000. The main office is located right across the
municipal hall of castillejos in front of public market.
In 1991, Mt. Pinatubo erupted that caused great damage to Zambales. In
1944 spouses Mr & Mrs. Coloma, Invested a fresh capital to rehabilitate the bank
operations. Mr. Jerry Coloma Jr. was elected Chairman & President of the board in
1995.
The new management then requested the BSP for transfer the branch from
Castillejos to Olongapo office and Castillejos as a regular branch. The stockholders
decided to change its corporate name from Rural Bank of Castillejos to Zambales
Rural Bank Inc. under the trade name Zambales Bank.

Organizational Structure
MABALACAT BRANCH
Jonalyn L. Angeles
Branch Manager
Loan Accounting Cash Admisnistrative

Department Department Department Department
Jonathan D. Cemania Lorena F. Pangan Gladys T. Lusabia Roger E. Garcia

LOANS GL BOOKKEEPER CASHIER/TELLE MARKETING
BOOKKEEPER R STAFF
Danelle Joy S. Palo John Bernard F.

CASA Lauriano
BOOKKEEPER SECURITY GUARD

Services Offered:
DEPOSITS
Types of Deposits Offered:
● PESO ACCOUNT
❖ Savings Deposits
❖ Time Deposits
❖ Current checking account
● DOLLAR ACCOUNT
❖ Dollar Savings Deposits
LOANS
Kinds of Loans offered:
❖ Agricultural Loans
❖ Commercial Loans
❖ Housing Loans

CITY GOVERNMENTS OF MABALACAT ACCOUNTING DEPARTMENT
WEEKLY ACTIVITIES NARRATIVE REPORT
DATE SPECIFIC ACTIVITY/ ASSIGNED TASK
WEEK 1: Endorsement to the Zambales Rural Bank. As part of the
Jan. 07-08, 2019 orientation, the organization’s policies and important
guidelines were discussed. Sorting of proofsheets.

WEEK 2: Run ups transaction (withdrawal and deposit slips).
Jan. 14-16, 2019 Sorting ledger by current and savings account.

WEEK 3: Run ups transaction (withdrawal and deposit slips). Check
Jan. 21-23, 2019 deposits to Land Bank. Making cover for proofsheets.
WEEK 4: Updating Book of accounts (BOA). Run ups transaction
Jan. 28-30, 2019 (withdrawal and deposit slips). Making new aacounts
documents.
WEEK 5: Run ups transaction (withdrawal and deposit slips). Filing
Feb. 26-27, 2019 and sorting documents. Updating book of accounts
(BOA).
Mar. 11-13, 2019 deposits to Land Bank. Filing new account sigcard by
order (Alphabetical and Numerical).

WEEK 7: Run ups transaction (withdrawal and deposit slips).
Mar. 18-19, 2019 Check deposits to Land Bank. Pulling out closed account
documents.

WEEK 8: Updating book of accounts. Stamping check by account
Mar. 25-27, 2019 number. Check deposits to Land Bank.

WEEK 9: Run ups, filing documents in current and savings account.
April 01-03, 2019 Check deposits to Land Bank. Sorting proofsheets. Pulling
sigcard closed accounts.

April 08-10, 2019 deposits to Land Bank. Stamping Dormant accounts.
Filing and Soring documents.
April 15-17, 2019 deposits to Land Bank. Sorting and filing documents.
Making cover for proofsheets.
WEEK 12 Filing poofsheets from beginning of the month to end.
April 29-30, 2019 Run ups transaction (withdrawal and deposit slips). Check
deposits to Land Bank. Updating book of accounts (BOA).

WEEK 13 Making requirements for new accounts. Stamping
May 06-07, 2019 dormant and closed accounts. Run ups transaction
(withdrawal and deposit slips).

WEEK 14 Run ups transaction (withdrawal and deposit slips). Filing
May 15, 2019 documents. Sorting documents. Check deposits to Land
Bank.
WEEK 15 Run ups transaction (withdrawal and deposit slips). Check
May 20-22, 2019 deposits to Land Bank. Filing and sorting documents.

Updating book of accounts (BOA).
WEEK 16 Check depostis to Land Bank. Run ups transaction
Apr. 22-24, 2019 (withdrawal and deposit slips). Filing and sorting
documents. Making cover for proofsheets.

STRENGTHS OF THE COMPANY
The Strengths of Zambales Rural Bank are:
STRENGTHS DISCUSSION
In ZAMBANK, quality of work conducted is
assured by each employee. They have enough tools and
QUALITY OF software in checking their works. Aside from that, the
WORK manager also monitors the work of each staff to ensure
that any material misstatements would be done.
The ZAMBANK staffs have enough training and
WORK EXPERTISE experience in terms of providing good services to the
clients.
The Bank has a good working environment which
WORKING makes their staffs feel comfortable. The facilities are also
ENVIRONMENT well-organized and are useful to make the work of the
staffs be efficient.

WEAKNESSES OF THE COMPANY
The Weakneses of Zambales Rural Bank are:
WEAKNESSES DISCUSSION
Some of the documents in the Bank are not well

UNORGANIZED
organized that makes it hard for the staff to find the
PAPER WORKS
specific documents they are looking for.
Some of the employees in ZAMBANK don’t come
EMPLOYEES’ to work on time.
TIME CARD
ZAMBANK have lots of documents to file wherein
LACKING OF they don’t fit anymore on file cabinets.
FILE CABINET
ZAMBANK do not have CCTV cameras outside the
SECURITY & company and security guard sometimes to secure them
PROTECTION from harm and from bad people.

COMPANY PROBLEMS
As Perceived by the Company:
`Delayed Collections
Some clients of the company do not pay on time. This causes major problem
since the company is responsible for payments and these are to be paid in the
government such as the taxes contribution so the delayed collection causes payment
of penalties.
As Perceived by the Practicumer:
Lack of security personnel or resources
The trainee has recognized the need of security personnel or even CCTV
cameras in Zambales Rural Bank. Lacking of security resources might be harmful to
the bank since it could result to loss and damages of important documents or assets
within the company. The Manager and staffs should seek for solution unto this
problem for safety purposes.
Lack of cabinet file
Many documents in the firm are not properly filed or organized since they were
lacking of containers or cabinets. The intern has also observed that because of this,
some of the documents are being misplaced or hard to find since they are not
properly organized. These problems have also led to delay of work.

SUMMARY/ CONCLUSION
Experience is the best teacher that could give you knowledge and learning
not written in any reading materials. The On-the-job training has served as a
learning tool that could help the intern in his future career. This training was a way
closer on his dream to become a Certified Public Accountant.
To be part of the Zambales Rural Bank has taught the intern a lot of r
ealizations and ideas in the field of accounting. The intern was able to
experience different bank transactions such as, filling sorting, run ups and updating
on the book of accounts and the exciting part is that he was able to mingled to
different kinds of people asking with regards to the opening of new accounts,
savings accounts and a lot more.
Aside from the technical knowledge the trainee has learned, he was also able
to enhance his interpersonal skills and has able to adjust or cope with the
environment. Dealing with different types of people was not easy, but since the
staffs of Zambales Rural Bank are kind and very approachable, the trainee has able
to have good relationship with them.
Finally, the intern’s training was a meaningful one. Aside from the
experience and knowledge he gained, the training has also opened his eyes in the
real world of accountancy profession. He was able to showcase his skills and
knowledge as well and has able to assess himself on the things that he needs to
improve more. The training has also taught him to be strong and to continue on
striving hard to achieve his goals in life.

RECOMMENDATION
To the Zambales Rural Bank
It is recommended for the firm to continue on giving other students the
opportunity to grow and experience real work procedures in their company. Aside
from that, the good relationship that each staff has with their co-staff should also be
maintained since it could be one of the edges of the company over others. Also,
maintain or continue to capitalize on the company’s strengths while finding
solutions to their weaknesses to ensure the company’s success in the future.
To the College
It is recommended for the college to continue on providing trainings and
practices to the students since it will be a big help to them in their preparation to
becoming a Certified Public Accountant someday. It is also recommended to give
the students allowances during their internship as a reward for their efforts and
sacrifices as well.
To the Future Trainees
It is not easy to study while having training in a company but always
remember not to give up during those hard times, ask for the assistance of those
people that could help you and never forget to pray and thank our Almighty God for
all the challenges that make you stronger than you were before. Do not also forget
to enjoy your days training in a company and do your best as a trainee not just to
help yourself but to help the company as well.

To the Perceived Problems by the Company
The intern has observed that the major problem in the company is their
internal control. There are lots of ways that could help the company overcome this
problem.
Regarding the unorganized paper works, it is recommended for the company
to buy file cabinets and put labels in it to make the organizing and filing of
documents easier. Aside from that, they can also save time since they will no longer
misplace some of their documents.
A well-written ethical policies and guidelines and security resources like
CCTV cameras or security personnel are also recommended since it can help the
company prevent fraud and misappropriations of assets inside the company.
Changing the computers’ passwords regularly should also be done for the security of
their important information.
Finally, since some of their employees are not coming in work on time, it is
also recommended to the company to make rules and regulations about their time in
and out. Give rewards or incentives to those employees who are always on time and
are rarely absent and do monitoring as well.

APPENDICES
Apendix A. Company Facilities
RECEIVING AREA
BRANCH MANAGER

LOAN BOOKKEEPER
GLBOOKKEEPER & MARKETING STAFF
CASA BOOKKEEPER & CASHIER/TELLER

Appendix B. Photos during OJT Proper
SORTING CURRENT/SAVINGS LEDGER
FILLING LOANS REQUIREMENTS

RUN UPS (WITHDRAWAL AND DEPOSIT SLIPS)
UPDATING BOOK OF ACCOUNTS

Branch Manager
Ms. Jonalyn L.Angeles
GLBOOKKEEPER
Ms. Lorena F. Pangan
LOAN BOOKKEEPER
Mr. Jonathan D. Cemania

CASHIER/TELLER
Ms. Gladys Faye T. Lusabia
CASA BOOKKEEPER
Ms. Dannelle Joy. S. Palo
MARKETING STAFF
Mr. Roger E. Garcia

Appendix C. OJT Requirements
Practicum Endorsement Letter

Certificate of Completion

Evaluation Form

Waiver

Weekly Report
















Apendix D. Grammar Critic Certification

Appendix E. Curriculum Vitae
SAMUEL A. MADAYAG
Blk. 9 Lot 22 Northville 16, Brgy. Atlu Bola,
Mabalacat City, Pampanga
0975-6640-100
sam.alegado90@gmail.com
OBJECTIVE: To obtain a position where I can maximize the use and practice of
my skills, knowledge, and abilities in my profession as an Accounting Technology
graduate and grow professionally in the field of accounting.
EDUCATION
Mabalacat City College
Dolores, Mabalacat City, Pampanga
Bachelor of Science in Accounting Technology
2015- Present
Atlu Bola High School
Brgy. Atlu Bola, Mabalacat City, Pampanga
2011-2015
INTERNSHIP/WORK EXPERIENCE
Zambales Rural Bank

Mc Arthur Hi-way Dau Mabalacat City, Pampanga
January 7- May 29, 2019

Description: Successfully completed my three hundred twenty- hours
supervised/unsupervised industry training.
AFFILIATIONS
Junior Philippine Institute of Accountants
Member
2016 –2017
National Federation of Junior Philippine Institute of Accountants
Member
January 4, 2016
SEMINARS ATTENDED
Accountancy Days 2017
1. Diamond Effect: Polishing Your Skills to Make You Shine
Organized by the Junior Philippine Institute of Accountants (Mabalacat City College
Chapter) Council held at Garden of Petals and Petals, Mabiga, Mabalacat City,
Pampanga on November 08, 2017
Accountancy Days 2016
The Emotional Intelligence of Accountant
Unleashed the CPA within: Accounting updates and CPA taking strategies

Organized by the Junior Philippine Institute of Accountants (Mabalacat City College
Chapter) Council held at Heaven’s Favor, Green Meadows, Mabiga, Mabalacat City,
Pampanga on September 08, 2016.
PERSONAL DATA
Date of Birth: March 22, 1999
Place of Birth: Dau, Mabalacat Cyti, Pampanga
Age : 20 years old
Sex: Male
Civil Status: Single
Nationality: Filipino
Height : 156cm.
Weight: 54’lbs
Religion: Christian
SKILLS
 Can operate computer programs (Microsoft Word, Excel and PowerPoint)
 Can speak different languages
 Can type 30 words in a minute
REFERENCES
REYNALDO L. LAXAMANA
Dean, Institute of Business Education
Rizal St., Dolores, Mabalacat City, Pampanga
0933-315-1358

Reynaldo_laxamana@ymail.com
MYRNA C. CALMA
Program Head, Accountancy
Rizal St., Dolores, Mabalacat City, Pampanga
0915-981-6290
josecalma@rocketmail.com


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MABALACAT CITY COLLEGE

PRACTICUM REPORT: TRAINING EXPERIENCE INC

A Practicum Report Presented to the Faculty of

In Partial Fulfillment of the Requirement for the Degree of

This journal entitled “PRACTICUM REPORT: Training Experience in

“Zambales Rural Bank” prepared and submitted by Samuel A. Madayag, in partial

fulfillment of the requirements for the degree Bachelor of Science in Accounting

Technology has been examined for acceptance and approval.

Approved by the Committee with a grade of .

Accepted and approved in partial fulfillment of the requirements for the

degree Bachelor of Science in Accounting Technology.

REYNALDO L. LAXAMANA, MBM, DMB(car)

REYNALDO L. LAXAMANA, MBM, DMB(car) Dr. Myrna C. Calma, CPA

Dean, Institute of Business Education VP for Academic Affairs

Institute Of Business Education i

their valuable assistance in the completion of the requirement of the intern.

before, leading him to the completion of the said internship.

To the dean of Institute of Business Education, Mr. Reynaldo L. Laxamana,

help during the training.

company, to be trained and be knowledgeable about the current trends in the

Institute Of Business Education ii

TABLE OF CONTENTS........................................................................................... iii

Vision, Mission & Beliefs of the Company………………………… 2

Logo of the Company...................................................................................3

History/Background of the Company...........................................................4

Summary of Weekly Activities.................................................................... 7

as perceived by the company........................................................................12

as perceived by the practicumer................................................................... 12

Institute Of Business Education iii

Appendix A - Company Facilities and Employees

Appendix B - Photos During OJT Proper

Appendix C - OJT Requirements

Appendix D - Grammar Critic Certification

Appendix E – Curriculum Vitae

Institute Of Business Education iv

The knowledge of a student gained from the college professors are

students a chance to apply the lessons learned from the school.

On the job training (OJT) is a form of training taking place in a normal

acquainted in a formal real-life work environment that enables them to understand

and respond better.

On the part of the trainees, it is an opportunity for them to undergo through

documents, and dealing with different types of people.

Institute Of Business Education 1

customers through a strong and responsive rural banking operation.

The Mission of the Zambank, Inc is:

1. To offer quality banking services to all clients;

3. To comply with regulatory requirements; and

1. Integrity, professionalism, resourcefulness and team work

2. People are our most important service.

Institute Of Business Education 2

Logo of the Company

Location of Company map

Institute Of Business Education 3

History/Background of the Company

municipal hall of castillejos in front of public market.

In 1991, Mt. Pinatubo erupted that caused great damage to Zambales. In

Castillejos to Olongapo office and Castillejos as a regular branch. The stockholders

Rural Bank Inc. under the trade name Zambales Bank.

Institute Of Business Education 4

Loan Accounting Cash Admisnistrative

Jonathan D. Cemania Lorena F. Pangan Gladys T. Lusabia Roger E. Garcia

Danelle Joy S. Palo John Bernard F.

Institute Of Business Education 5