XPRACTICUM

Holy Angel University

Angeles City
School of Business and Accountancy

Narrative Report
Narrative Report Paper
In partial fullfilment for the requirements in XPRACTICUM – On the
Job Training

Criteria for the Internship Manual

CRITERIA % %
1. Organization 10%
-format, style, and techniques  
2. Content 20%
- completeness of information  
3. Visual Aids 10%
- pictures, forms with correct labeling  
4. Analysis
- critical evaluation of the standard operating 20%
procedures, citing strengths & weaknesses of
section/department  
5. Recommendation/s 20%
- feasible courses of action  
6. Punctuality
- should be submitted on or before the given 10%
deadline  
7. Neatness, presentation, cleanliness 10%  
TOTAL 100%  

Submitted by: Submitted to:

Vivar, Byron Calaunan Carolina G. Intal
A - 4S1 BSAT PRACTICUM Coordinator
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OUTLINE FOR NARRATIVE REPORT

I. The Goals of My Off – Campus Practice

A. Personal Skills

B. Business Skills

II. Company’s Background / Profile

III. The Nature of my Work in the Office

IV. Getting Along on the Job

A. New Friends Acquired (Names, Positions and duties they performed)

B. Observation on the Rules and Regulations of the Office

 For the Employees

 For the student – trainees

C. Layout of the Office where student – trainee is deployed

V. An Evaluation of my Training

A. Office Procedures Learned and Applied

For Accounting Students

a. What is the Organizational chart of the department?

b. Identify the different sections and their respective functions in the department you are

deployed?

c. If any, what accounting system/s is utilized in the department/company?

d. How are business transactions recorded? What forms are being used?

B. Office Equipment Operated

C. Duties & Responsibilities/Work done in the Office (Photos of work performed by the intern

during his/her training. This must be done for the purpose of documenting his/her internship.)
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VI. Observed Organizational Values

 Interpersonal Relationships

 Working Relationships with the Executive & Co – Workers

 Teamwork

 Quality of Service Delivered

 Punctuality

 Personal Grooming

VII. Problems Encountered During my Training and How I Solved Them

VIII. Observations and Recommendations of the student intern in their Host Establishment
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I. TheGoals of My Off – Campus Practice

a. Personal Skills

I’m a shy type of person, that’s the main reason why i encourage myself to train outside

the campus to get along with other people specially for the people who supervice Internship.

Secondly is to enhance my knowledge regarding on a field which is Accounting Technology

and a Certified Public Accountant (CPA) in transit. To learn more how to practice in the field .

I’m eager to learn so that in the future i can also educate student/intern like me, the

importance of accountant in Businesses. Also to enhance my time management which is

important even for other fields. Third is to acquire professional ethics and credits coming

from a professionals. Acquire attituted of a CPA that i can bring up to the end of my journey.

There is no right or wrong, so be a person that is physical and mentally fit. Be a professional

not just in name but in personality.

b. Business Skills

The goal of my practice related to business is to be familiarize on a software that usually

accountant used. So that when i enter in a corporate world, i can easily adjust on a

tools/software that companies provide. Also to be familiarize on Microsoft Excel by using key

shortcuts and formulas because this application is widely used when performing

bookkeeping. Regarding on filling of tax the software that i want to familiarize, is Data Relief

(SLSP) so that when in computing of the taxable of company i can easily identify what

amount of tax should company pay for.

II. Company’s Background / Profile

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SICANGCO MENOR VILLANUEVA & CO., CPAs’ (SMV CPAs) is one of the largest and

trusted accounting and auditing firms in Pampanga, which is duly accredited by the Board of

Accountancy (BOA) with accreditation no. 0719, Securities and Exchange Commission (SEC) as an

auditing firm for Group C secondary licensees per SEC Memorandum Circular No. 15, Series of

2006, upon its compliance with the accreditation requirements of SEC Memorandum Circular No. 13

(Series of 2003) with accreditation no. 0171-FR-2; Bangko Sentral ng Pilipinas (BSP); and Bureau

of Internal Revenue (BIR) with accreditation no. 04-003650-0-2013. It has earned its good name

and reputation for providing good, quality service with a high degree of confidence and satisfaction

being enjoyed by its clients.

SMV CPAs is headed by five (5) partners, three (3) associates and seven (7) staff members

that service more than 154 clients, that range from manufacturing, trading, transport services, realty,

professional services, with offices in Angeles City, Makati City and Clark Freeport Zone.

The services if offered include:

 External audits;

 Tax services – preparation and filing of tax returns, provide consultancy on tax and estate

planning, provide representation on tax issues before the Bureau of Internal Revenue (BIR);

 Management advisory services – provide advice and assistance concerning an entity’s

organization, personnel, finances, operations, systems or other activities;

 Accounting and review services – compilation or review is done on bookkeeping, payroll

processing and preparing financial statements; and

 Examination of forecasts and projections.

III. The Nature of my Work in the Office

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Sicangco Menor Villanueva (SMV) is one of the auditing firm in Pampanga, so usually the

assignment/task that given to me is to assist our supervisor in compliance of audit of the company.

Normally we do vouching of Official Receipt (OR), Credit Card of the companies customer and the

Account Receivable of companies customer. Payroll also included in our audit. To provide fair and

no bias on the salary of employees. We do comparison of the data given from the management to

us on the Date Time Record (DTR) of the employees. Regarding on the SMV office the nature of

our work is creating General Form for Financial Statement (GFFS) of the company, bookkeeping the

companies expenses such us rent, salary, purchases. Also Computing the input VAT of the

companies which is subject to WC 158, WC 160, and WC 200, 1%, 2%, 5%, respectively. Data

entry on purchases and sales of the companies using SLSP.

IV. Getting Along on the Job

A. New Friends Acquired (Names, Positions and duties they performed)

Sir. John Syril Sigua, CPA

Sir Sy, a former associate and External Auditor. The last work he did for SMV pertaining to audit,

was Sales, Account Receivable (A/R), and Credit Card to Oasis Hotel.

Maam Rachelle Sian, CPA

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Maam Chelle, one of the associate of SMV, an External Auditor. She perform an audit service in

Oasis Hotel for their Sales, A/R such billing statements, and Credit Card of the customer for the

year 2018 – 2019. She also perform an audit service in Faith Corporation for their Cash

Disbursement, Sales, and Credit Card. She filled the position that Sir John Syril left.

Maam Ma. Cristina Reyes, CPA

Maam tin, one if the Associates of SMV, an External Auditor. She perform an audit service in Laus

Group of Company for their Sales, Or, Investment. She’s also responsible of Holy Angel university

Annual Income Tax Return (1704) and Financial Statement. Personal Accountant of Angeles

Electric Corporation.

Maam Twinkle Anne Gamboa, CPA

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Maam Twinkle, one of the associate of SMV, an External Auditor. She perform an audit service in

Oasis Hotel Payroll Department. She’s also one of the CPA who perform an audit service in Laus

Group of Company for their sales, OR, and Investment.

B. Observation on the Rules and Regulations of the Office

 For the Employees

- They are not strict in time

- They have proper lunch time break

- They don’t allow for an overtime

- Arrive and Leave on time when performing an audit,

 For the student trainees

- Should always ask what to do when work is done.

- Should always ask when having difficulty on the work.

- Should always address the co-intern and supervisors.

- Smart Casual attire is must.

- Avoid doing wrong as much as possible.

C. Layout of the Office where student – trainee is deployed

CONFERENCE
Villanueva Office Menor Office Sicangco Office
ROOM

Pantry
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Door Associ Associ Associ

Payroll ates ates ates Partners Station
Front Desk STOCK ROOM

Associ
Billing OJT OJT ates

CR
EQP5 EQP4 EQP3 EQP2 EQP1

V. An evaluation of my Training

A. Office Procedure Learned and Applied

1. I learned how to manage my time.

2. I learned how to handle pressure during work time.

3. I learned how to segregate my school requirements in the workplace.

4. I learned how to handle stress in workplace.

5. I learned how to make General Form for Financial Statement

6. I learned Auditing procedures.

7. I learned how to free from bias.

8. I learned how to not disclosed the Financial Statement.

9. I learned how to use Data Entry Relief (SLSP).

10. I learned how to use Input Tax QAP Form.

11. I learned how to file the Financial Statements to SEC.

12. I learned how to file ITR 1704

FOR ACCOUNTING STUDENTS

a. What is the organizational chart of the department?

Pio Angelo P. Sicangco

Partner

Rachelle Sian Ma. Cristina Reyes Twinkle Anne Gamboa Ericson Aldana Francisco
Auditor Auditor Auditor Auditor
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b. Identify the different sections and their respective functions in the department you

are deployed?

Sicangco Menor Villanueva & Co., is a Accounting Firm which located in #2 Dona

Gloria Ave., Villa Gloria Subd., Angeles City 2009. The different sections is Payroll,

Billing, and Assurance Engagement (Auditor). As an Accounting student, I’m assigned to

assist the auditor, for vouching, bookkeeping, SLSP, GFFS, and assigned to look for

discrepancy.

c. If any, what accounting system/s is utilized in the department/company?

The accounting system/s that SMV apply in the company was Data Entry Relief

System and Alphalist Data Entry System (QAP Form). The Data Entry Relief System is a

tool created by the Philippine's Bureau of Internal Revenue. Under eRELIEF, Corporate

Taxpayers send electronically to BIR through the BIR Website its quarterly sales and

purchases data. The Alphalist Data Entry is a downloadable application created by the

BIR which was designed to help taxpayers in preparing the Alphalist of Payees when it

comes to tax forms such as Withholding tax returns.

d. How are business transactions recorded? What forms are being used?

SMV was not using General Ledger to record there business transaction but some of

our clients provide General Ledger for us to make an Assurance engagement. A general

ledger (GL) is a set of numbered accounts a business uses to keep track of its financial

transactions and to prepare financial reports. Each account is a unique record

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summarizing each type of asset, liability, equity, revenue and expense. SMV normally

use QAP Form, MAP Form, SAWT Form, this form are all included on a software namely

Alphalist Data Entry System.

B. Office Equipment Operated

Computer Desktop & Printer

Photocopy Machine
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Another Desktop for Financial Statement

C. Duties & Responsibility/Work done in the Office (Photos of work performed by the

intern during his/her training. This must be done for the purpose of ducumenting

his/her internship.)

GFFS
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AUDIT OF PAYROLL

VI. Observed Organizational Values

 Interpersonal Relationships

My very first day on SMV was not that good. I’m nervous that time, i have a lot of

what if? In my mind. So i try to face it. I though my First day it was chill but my thought

was so wrong. They assign me to create for a GFFS, so my first impression to them is
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that they are really workaholic or they are very serious. But time skip, I got know them

better, so my first impression to them was wrong, because I found that they are very

friendly, kind, and genuine. They always teach me before they assign the task to me.

They gave us a lot of advices, and they are very cheerful. Thats the reason why we call it

family.

 Working Relationships with the Executive & Co – Workers

SMV people are the most fun and happy to go. I found the interest, eager to learn, to

practice more on there profession. They value the things that they hold for. Yes, they are

serious when duty/audit is there. But when we have time to talk to, they always throw a

corny jokes. The bond we create together is not just for trash but for keep. The

Relationship of employees inside the SMV is like a family, they treat their co – workers

fairly and educate them in a good.

 Teamwork

Days past by, and in long run of the operation/process, I observed the unity of the

associates and employees. The bond of the employees, and us. I notice that when one

of the employees was left behind. Other employees will help, to help the employees who

left behind and to catch up. Especially when the deadline is on due. The unity of the

workplace was really good and excellent. As a trainee, I can adopt that attitude so that

when i enter in a corporate or business world, I can easily get along with each other

although we don’t have same culture, values, religions. Teamwork is important for the

company to act as a one. If someone left behind catch it, help it, and motivate it.

 Quality of Service Delivered

SMV offer a good quality service neither audit nor tax. SMV Financial Statements,

Forecasting and projecting services will also give clients a quality of services. The

service they rendered is free from bias. They don’t disclosed information regarding on

Financial Statement. They also give an assurance to the clients that the work done was
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fair and just. They give a 100% that the information given by the client to the associates

is safe and secured.

 Punctuality

The SMV employees is not strict in time, but the employees alwas come before the

duty start (Early). Even though they are not strict on the time that they have given, I still

have to go early because I need to beccome a responsible as an individual and as an

employee. So I acquire that attitude, so that when i finish on my OJT they cannot say

that I’m not retired.

 Personal Grooming

SMV didn’t want to wear a school uniform because they always treat us an employee

not just an OJT. They allow us to do our school requirements especially when it is on

due. They also give us time to study are lesson. They don’t want us to left behind and

having a failure grade. Also it’s up to employees if they wear uniform or not. The only

thing that our supervisor tells about personal grooming is that we shoul be presentable

and smart in looking.

VII. Problems Encountered During my Training and How I Solved Them

The problems i encoutered during my training, first is the Time. I having a hard time to adjust

my body clock what time i should wokeup and what time i will arrived at SMV. The agony is there,

because I’m not used to waking up in the morning and the fact that I came home late. So I trained
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myself to get up early, to prepare early, to adjust my body clock. If i will not do this thing, no one will

adjust for me, no one will do it for me and especially there is a tendency that i will get rid of my OJT.

First day of my training, I thought that it was chill and relax, I thought it was just an

orientation, never thought that on my first day they will gave me a bunch of load of work. I doubt

myself because i don’t know how to do and create a General Form for Financial Statement (GFFS).

So to solved it, I personaly ask my supervisor to teach and guide me how will i do it. Suddenly while

my supervisor Sir. Erick guiding me a lecturing me on how i can make it, while I’m scanning the

Financial Statement, I recall some of our lesson that i can apply. So the next day my facing on work

has really improved.

Time skip. Another problem that i encountered is that when we start the field work, when we

start auditing the Oasis Hotel. I don’t know what to do? I always ask myself how can we audit this

company, I even don’t have any knowledge about audit?. Were just taking up this subject this

semester. I feel so shy, because i don’t have any contribution on a work. So i tried to talk to Sir. Syril

about this matter, then he motivate me teach me and said that “Don’t doubt on yourself” no body

started wise and knowledgable. So to catch up, I read audit books, to know the policy and

procedures that can apply on work. To suprise me i can easily vouch OR, Sales Invoice, Credit

Card.

At the end of my training. I realized that the problem i encountered is just a challenge on my

everyday of living, challenge to face my self pitty, fear people what will say to me. Learn to be

yourself learn to motivate yourself. This is a lesson for me as a human being, a lesson that will bring

up to the end, a lesson that can pass by. Realization is needed to face your fear, struggle in order

for you to be professional. Yes it’s hard but no one will help you to do this. Just be yourself always

and everything will do fine. Remember that all of the problem you will encounter, face it and solved

it. In life there is no right and wrong. Trust and be genuine all the time and God will do the rest.
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VII. Observations and Recommendations of the student intern in their Host Establishment

I don’t have any recommendations about the Training Program. In fact Im very thankful that

this program was developed. It helps me a lot. It help me to improved my skills and capabilities as

an individual. It helps me to developed my expertise and the field that i will going to enter in future.

Thankful because this program gave me a huge experience that other students didn’t experience it.

The fun that they gave me, the knowledge that they gave me and new sets of friend that they gave

me. Just remember, be true to yourself, help others, make each day your masterpiece, make

friendship a fine art, drink deeply from good books, build a shelter against a rainy day, give thanks

for your blessings and pray for guidance every day. Thank you.