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Ojt Daily Journal

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Submitted By steffipantino
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UNIVERSITY OF SAN CARLOS
School of Business and Economics
Department of Accountancy
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Student Trainee’s Daily Journal
Name of Student Trainee: Pantino, Steffi Kay D. Course: BSA - 4
Faculty Adviser: Mr. Wendell Ang
Name of Company/Institution/Organization: RP Mora Accounting and Law Office
Name of Supervisor: Ms. Victoria Meñoza Area Assigned: Audit Department
Period Covered: December 1, December 3 and December 4 of 2015 No. of Hours: 24 hours Date | What I Did(Activities) | What Did I Learn? | Deficiency/ Concerns | December 1, 2015 | Today, I was asked to vouch for the expenses of Landbank Employees Credit Cooperative by looking into their general journal, cash disbursements and cash receipts for the year. | My supervisor told me that auditing for Landbank Employees Credit Cooperative would be quite a challenge since cooperatives have different accounting practices. While I was vouching for the various expenses, I realized how valuable official receipts are. It is indeed very helpful that they are numbered. | I have no concerns for today. | December 3 , 2015 | I was asked by my supervisor to verify the material amounts of the cooperative’s loans receivable. I again looked into the general journal, cash disbursements and cash receipts for the year. | I learned that before looking into the loans receivable of a company or organization, it is very important that you study their lending policies first. Vouching would be pointless if you don’t understand their lending process. | I have no concerns for today. | December 4, 2015 | We met with our faculty adviser in the morning. And in the afternoon, I was tasked to vouch the disbursements of a mining company. | This is not the first time that I have been acquainted with disbursement vouchers; hence, I learned that some things really need a bit of getting used to in order for you to work better with them. | I have no concerns for today. | Reflections for the Week I had a really great time this week because I enjoyed the fieldwork in Landbank Employees Credit Cooperative. It was a different experience because I was exposed to some of the accounting practices of a cooperative. I was also inspired by the supervisor who brought me there because I can really tell how dedicated she is with her job. What’s more amazing is that she is just a year older than I am. It is during this week that I fully realized how attached I am with the audit team already. The fact that we all are enjoying each other’s company makes accomplishing our tasks much less burdensome. Building rapport is very important in the workplace. |

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