Name: Beberlie T.

Laping MA41

Course: Bachelor of Science in Management Accounting

SUMMARY OF LEARNINGS IN THE OJT PROGRAM

In 3 months of being an intern at Agusan del Norte Electric Cooperative (ANECO)

allows me to experience real work setting. Even though, I am ANECO scholar still this
experience considered new to me knowing that I’m doing tasks which are related to my chosen
course. The first and second month of the on the job training focuses on the processing of BIR
form 2307 or the Certification of Creditable Tax Withheld at Source. I was task for the sorting
and filing of those forms base on designated power suppliers, although this may consider an easy
task but I learned a lot especially with regards to taxation. First thing is how does ANECO
complied with the BIR Form 2307; so considering Aneco as a distributor and a business entity of
course it requires to comply with the BIR Form 2307 as a withholding agent provided that it has
a 10 major electric suppliers with that Aneco will most likely issue 2307 to its suppliers. The
next thing is I learned that form 2307 function as an income tax credit which means it is a legal
way to lessen the taxes that a business entity pay to the BIR. Furthermore, Aneco is a non- profit
organization which means that only 2% of withholding tax will be subjected to its suppliers
instead of 5% this accord to the new tax reform which is the TRAIN Law. Another thing is
checking vouchers; in Aneco it is much important to keep the manual records in each
transactions and not just depending on system records. Since Aneco don’t have a fully
established accounting system, the record keeping is a bit hassle when there are transactions that
have gone missing or did not include in the financial computation. With that specific task I
learned the use of vouchers not just the concept that I learned from school but in the real work
setting. In which vouchers describe the authorising payment of a liability to a supplier and this
document attached to the supplier invoice, evidence receipt and a purchase orders. That’s why
when I was assigned in this task I wasn’t expecting that huge pile of documents. Then, in the
month of November which is the last month of the on the job training. I was task with the
encoding of bill of materials for the Capital Expenditure (CAPEX) in this task I have
realizations of what taught in school is somehow difficult than to apply in reality. Provided that
in this task we are dealing with encoding the materials and amount indicated in each job orders.
With that I learned different set of materials used in the distribution of electricity also as Aneco a
servicing type of business I learned how transactions made from its source as to the distribution
of electricity and the costing system as to the rates of each kilowatt-hour (KWh) I learned that
this depends on the rates of each supplier that’s why KWh does have a fixed amount since the
supplier tend to decrease or increase the cost of electricity it produce.

On the top of this on the job training I learned a lot not just those related with my course
but also how things work after I graduate. I learned that talent alone is not enough. Although, it
is important but it is no guarantee of success, it also requires hard work and practice self-
discipline; sacrifice is important too.