DR. FILEMON C.

AGUILAR MEMORIAL COLLEGE OF LAS PIAS

Golden Gate Subdivision, Talon III, Las Pias City Tel. No.: 805-84-25 / Fax No.: 805-85-22

STUDENT TRAINEES ACCOMPLISHMENT REPORT

Period Covered: March 22, 2015 April 15, 2015
Name of Student:

BUENO, ARLAN BOHOL

Course/Major:

Bachelor of Science in Accountancy

Year & Section:

Fifth Year Two

Name of Training
Company/Office:

Corazon B. Zabala Auditing and Accounting Services

Company Office
Address:

Block 3 Lot 6 Las Pias City

Name of Immediate
Supervisor:

Miss Elaine Palenzuela

Designation:

Area Supervisor Admin

Contact No.:
Telephone

800-4056

Fax

806-3589

E-mail

info@cbz-cpa.com
cbzcerberus@gmail.com

I Summary of Jobs/Tasks Assigned

In entering the Internship Program, I have no idea how would it be and what will
it takes to accomplish each task that would be given to me. I stayed in the company for
almost eight (8) weeks, acting like Im a regular employee, given different levels of job
assigned each week and, using all my capabilities and skills to finish it efficiently and
effectively. And because of their heartwarming welcome for us, OJT trainees, it motivates
us to achieve the goal for each client to execute further actions beyond their expectations.
On the first week of my training, our Area Supervisor assigned me to do the
Annual Income Tax Return for our Makati-based clients. It took several steps for me to
finish a piece of an Annual ITR including the preparation, bank reconciliation,
worksheets,attachments, and compilation of different forms for submission to the Bureau
of Internal Revenue that were needed in order to verify each account. I had the
opportunity to prepare the Annual Income Tax Return for individual and corporate
taxpayers including those considered as big clients of the company and that is an
achievement that I should be proud of.

In the middle of my training, I was assigned to prepare the VAT Computation for
several clients. It includes the encoding of expenses and sales for the period covered and
the summarization of those expenses. It also introduced me to the usage of the eBIR
application used by each of us in the offline preparation of VAT Computation.
Corazon B. Zabala Auditing and Accounting Services shared to me their idea on
how to prepare the VAT Relief using the VAT Relief Application. It is quite enjoyable for
me because it let me work efficiently and effectively in a way that every centavo reported
in the BIR forms prepared must also the same presentation in the Vat Relief. Overall, it
let me verify each transaction if I got the correct Input/Output Tax.
SSS, PhilHealth, Pag-ibig Monthly Contribution is one of the task that I can say I
have applied those that I learned from our subjects. I remembered that Ms. Ferraris was
the last professor who taught us regarding this matter. This is included in one of our topic
Payroll. In this task, I was able to apply my knowledge in computing the monthly
contribution for each of those premiums and it helped me to become more realistic in the
corporate approach compare to what Ive read from the textbook.
Every week, I used to update the books of our clients. I was assigned to do the
general ledger of various clients and to journalize transactions in the books of accounts.
They entrusted to me the handling of those books because they want me to practice my
good penmanship and for them to have a good record in terms of updating the books.
II Skills Acquired/Developed from the Training Company/Office
Filing the Annual Income Tax Return allowed me to enter the real corporate world
because it acquainted me to the processes and procedures needed to prepare the ITR and
to value the importance of each source document needed in the auditing process.
The task of preparing the VAT Computation helped me to become a rapid
typewriter because each receipt given is important in computing the Input Tax for
Purchases and the supplier and its address is needed to support the computation or the
validity of that transaction. It also helped me to identify those charges reported only in
terms of Importation so I had the chance to remember the lessons from Taxation.
The VAT Relief Application is a good training because it enhanced my typing
skills, taught me to prepare it effectively and to appreciate the essence of each centavo
that it should be correct and equal to those reported in the VAT Computation.
The usage of the Monthly Contribution table, the preparation of each premium on
time and the connection or communication always with the client regarding if there is a
new employee or one is terminated are the key factors to fulfill the task for Monthly
Contribution for SSS, PhilHealth, and Pag-Ibig. It helped me boost my confidence in
meeting the deadlines. It is also a good learning process for all those knowledge Id
acquired from our subjects because it let me apply those lerning I have in my mind.
Encoding of Sales and Purchases, scanning of documents, preparing a report for
each document received, enhances my proficiency in computer operation, as these tasks
requires automated intervention by the use of machines and softwares.
Journalizing transactions, recording of different accounts, is a necessary to be able
to prepare the financial statements together with the nots and other attachments, which is
a reflection of the financial performance of firms in its annual operations. Given the
lessons I acquired in the Accounting subjects I took up in school, I was able to generate
entries for transactions, by analyzing the summary of expenses. Doing such task is
wonderful for it teaches me to value the lessons I first acquired before those higher
Accounting subjects Basic Accounting.

III Remarks/Comments/Suggestions/Recommendations on the Practicum (OJT)

Program.
The Practicum Internship Program is one of the biggest achievements that I can
be proud of. I can say that this training helped me grow as a better person and acquaints
me what will I be facing in the real corporate world.
Being a part of the Makati Area Team is a memorable experience because through
them, I had a second family during my Internship and they let me feel that I am important
in their daily jobs and tasks. They do not let us feel bored for a single minute having no
task to do. They always boost our confidence in a way that they trust us student trainees
in handling most of their big clients.
Also, it helped me apply the knowledge I learned from our alma mater, DFCAM
College of Las Pias, especially those from Taxation, Basic Accounting, and Financial
Accounting. It seemed like it was a review for me.
I am grateful and thankful because I was given a big opportunity to be part of
Corazon B. Zabala Auditing and Accounting Services as their Audit Assistant and for all
the skills and knowledge they have shared to us. They let me enter their world of
Accounting and Taxation.
I hope that there will be more Accountancy Students that will be a part also of the
CBZ Firm because I am proud to say that I enjoyed the Internship Program with them as
a team and as a second family.

, 2015
Date Accomplished

ARLAN B. BUENO
Signature of Student Trainee

NOTE: Trainee must attach the following in this report:

1. Corporate profile of Training Company/Office.
2. Picture or photo on his/her work station with immediate supervisor.