NARRATIVE REPORT

On the job training (OJT) is one of the subjects that students need to comply with in order to pass the requirements of the school. It is the time by which students practice and apply the knowledge they have acquired thru lots of theories and computations that they have learned. Here also, the students obtain experience and gain skills towards actual work setting. Palawan State Universitys Bachelor of Science in Accountancy and Bachelor of Science in Business Administration Major in Management Accounting students undergo their internship program during summer with the requirement of not less than 240 hours. As a BSBA MA student, I submitted my application letter and resume at Palawan Electric Cooperative, Inc. I chose this establishment because I know how well they handle their interns and this is one of the best training grounds for accounting students aiming to learn more of what is in store in the real world of business. April 18, 2011 marks the day for the start of my internship. We attended the flag ceremony at the gymnasium and were introduced to all PALECO employees and to the general manager Atty. Rohima Sarra. We had an orientation before we were taken to our offices and I was assigned in the Internal Audit Department. Maam Susanna de Ontoy is the Internal Auditor of the PALECO and she assigned me to be the intern of Maam Ruth Guinto who was the Post Audit Team Leader. Maam Guintos work was mostly based on inventories. The first work she has given was to make the As Built Summary of Bocana, Katumbalin and Meluang. Honestly, I was not familiar with those places. The As Built Summary is a worksheet wherein you check and balance all the materials used and returned in making light posts. The documents needed here is the Material Charge Ticket. The Material Charge Ticket or MCT is document wherein you can see all the materials requested to be pulled out of the warehouse for building light posts with the corresponding quantity and unit price. On the second day of our OJT, Ive prepared another As Built Summary of Sitio Mentes, Tomas Tan, Cabading, Taytay and Hotel Centro. I have also checked the amounts in the MCTs with that of the Construction Work Order. On April 20, I was given a different assignment. Maam Ruth would be leaving by the following week so she told Sir Raul Timbancaya to teach me how to prepare the Gasoline Consumption Report. I finished the 195 receipts from April 1 9, 2011. The first days of our OJT was on Holy week, so our fourth day was on April 25. I continued the preparation of the Gasoline Consumption Report, receipts from April 10-15, 2011, a total of 183 receipts. Unfortunately, I didnt balance the amounts from the Statement of Account from the gasoline station to that of the Gasoline Consumption Report I have made.

The next day, I reviewed what I have done and looked for the error. I found out that I was not the one who committed the mistake but the gasoline station itself. The one who writes on the receipt mistakenly recorded the total amount of gasoline on that specific date. I have learned that I should have first checked the receipts before entering them in the report. Thats what I did on the Aralar Gasoline Station Receipts; it has a total of 378 receipts. On April 27, I started the work left for me by Maam Guinto. It was to prepare the Analysis of Accounts of 154 and 107. Those are codes used to identify the kind of materials. In the 154, you can see there all the materials in the warehouse except for the transformer and Tritech wire which can be found in 107. For the month of March 2011, I first prepared the 154 of the Main Office, with a total of 42 MCT. I continued the preparation of 154 and 107; its a lot of MCT for the whole month of March. I only worked half day thats why I finished only 24 MCT of the main office. Some MCT of the Main office, Brookes Point, Narra, Quezon, Aborlan, Roxas and Cuyo were done on April 29 and it totaled 66 MCT. On April 30, for Quezon: 3 MCT, Aborlan: 22 MCT and Taytay: 21 MCT. May 2, Prepared 154 and 107 of Taytay and Roxas, another Gasoline Consumption Report for the receipts of Aralar Gasoline Station and when I have finished the work left for me, I helped my co-intern Loren Alotencio in filing 21 Tellers Daily Collection Report (TDCR) and receipts for the months of January to April 2010. On May 3, I helped my co-intern Odyssa Dawn Grariando to trace the receipts to Summary of

Disconnected Consumers, Cuyo Sub-office and prepare the list for outstanding consumers of Cuyo. I also checked the accuracy of the recorded disconnected bill form the old billing system (Aborlan Sub-office, 491 receipts). The next day, I continued checking the accuracy of the disconnected bill of the Aborlan Sub-office (199 receipts) and reviewed the new billing system compared the Accounts Receivable per receipt as of March 31, 2011 (72 receipts). The Tellers Daily Collection Report is the list of all those consumers who paid their electric bill. You can see there the total of the entire tellers collection on that date and the receipts of those electric bills listed are also available. On May 5, I was still working with my cointerns on their jobs; Ive done checking the TDCR of Edward Martinico (Taytay Sub-office) with a total of 103 receipts. After that, Sir Earl Rivera asked me to encode the internal audit manual, because they needed a soft copy of it for editing purposes; I encoded 9 pages on that day and helped my co-intern Queenie Rodriguez encode the Board Resolution for year 1999. It was Friday and Maam Ruth is still on leave. If Im not mistaken, it was for 2 weeks. I checked the TCDR of Edward Martinico (Tatay Sub-offcice) with a total of 157 receipts. On May 7, it was Saturday and the OJT students were asked to participate in the general cleaning in preparation for the annual meeting. Because there is still much time after the general cleaning, I continue my encoding of the Board Resolution of year 1999.

On May 9, I have done the Board Resolutions for year 1999 and started checking the TDCR of Romeo Guinto (Araceli Sub-office) with a total of 321 receipts. On my mothers birthday, I checked the TDCR of J. Lagrosa (San Vicente) with a total of 173 receipts. The following day was my sisters birthday, May 12, Maam Ruth finally return bringing some pasalubong. She asked me to prepare the Summary of Material Charge Tickets and Summary of Materials from the months of January to March. She said that this is to see if there are missing MCTs. On May 13, I was asked to check the unit price of the materials on every MCT for the month of March by using their price list. I started on the main office with a total of 47 MCT. May 14 was another day for general cleaning. On Monday, I continued checking the unit price and I finished 76 MCT. May 17, I prepared another Summary of Materials, encoded 1 MCT and repacked grocery items for the annual meeting. May 18, I encoded 4 MCT and checked the receipt of insurance for new L300 and recorded it to inspection Logbook for vehicles. May 19, I have finished checking all the unit prices of all MCT for the month of March (a total of 138 MCT). On May 20, I was asked to check the receiving reports from various dates for the year 2011. The receiving reports are those documents that represent the items purchased or bought by the PALECO and eventually received by the them or are already on hand. It is used to check if they still have a balance for their credit or not. I have checked 40 receiving reports, recorded it to their respective logbooks and filed it in their folder. May 21 marks the day for the 31st Annual Membership Meeting, we in the auditing and accounting department performed a dance number. On May 23, I prepared the Gasoline Consumption Report of the Camaro gasoline station, with a total of 126 receipts. May 24, I continued preparing the Gasoline Consumption Report of Camaro with a total of 155 receipts. After that, Maam Ruth left me a job which is preparing the Analysis of Accounts for the month of April 2011; she is going to Cuyo for auditing purposes. I have finished 9 MCT that day for the main office. On May 26: 21 MCT for the main office and on May 27: 43 MCT for the main office and Narra Sub-office. Saturday, May 27, I encoded 15 MCT for Taytay Sub-office. May 30, I prepared the 154 and 107 of the main office, Narra, Cuyo, Aborlan, Roxas, Brookes Point and Quezon with a total of 71 MCT. That afternoon, I checked the Summary of Deductions to that of the payroll register (144 accounts). I checked another 26 receiving reports, recorded it in their logbooks and filed it in a folder. On June 1, I encoded 11 MCT of Recaido, Sta. Monica, Airmen Building and Hangar Building.

On the last day of my OJT, June 2, 2011, I checked the Power Bills Inventory (Area 1010 and Area 1040) as of November 2010 with a total of 659 receipts. That day, I was happy because finally, I have finished the days of my internship. I will never forget that experience with PALECO. PALECO has taught me a lot about their accounting system, how things work in their inventory, payroll system and others. It has also served as my home because the PALECO family was very accommodating and fun to be with.

Prepared By:

VANNY JOYCE G. BALUYUT BSBA-MA 4/ OJT