Narrative Report

Bachelor of Science in Accountacy General de Jesus College Poblacion, San Isidro, Nueva Ecija Narrative Report In partial fulfillment of Internship under GM Bank of Luzon Inc. , San Isidro Branch by Sarah Jane G. Cucio presented to Jeffrey Franco, CPA March 30, 2011 MEMORABLE MOMENTS The 40 days I have spent in GM Bank of Luzon was lavishly full of hilarious, crazy, yet fruitfull moments. But my favorite part had occured on my earlier days in the Bank. It was then the most exhauting part.

I’m pertaining to the task given by Ms.

Joy. She asked me to record their transactions(per branch) starting Jan, 2011 onwards to revised their usual way of recording in the books due to merger. The exciting part is that I needed their proof sheet and all those splendid number of documents to be able to compute the correct balance of each per day. It was that particular date, Feb. 14 when I just spent the whole 4 hours rooting for the document for a particular transaction since it was not balance.

Luckily I was able to detect the error that made it not balance.

The whole transactions during that day consumed almost 5 pages, for its debits and credits,of the subsidiary ledger. That could actually be the most memorable experince for that was the time I think I have used my studies. I kind of do a little ‘vouching-like’ thing; see the balance first from their proof sheet then ripped for appropriate document where it is credited or debited. Next to that is the computation of their due to and due from Executives and other balances of each branch.

Again in this task we were able to apply some of our learnings in connection with accounting. My cup of tea would be the time when i was told to send a document to one of their branch using the fax machine since it was the most insane, funny part. The cashier was too busy that time which left me to look for myself how to use fax machine. To cut the long story short I was able to do what I was task to do. EXPERIENCE As an Accountancy student it isn’t oblivious on my part that we are to take Internship at not later before we reached fourth year.

As such whether we like it or not, we will be interns on such time to accumulate at least 160 hours. Consequently, I need to search where I could make myself belong as an apprentice. And It was last Jan. 24 when we got the Endorsement Letter and thus went straight away to GM Bank of Luzon Inc. , San Isidro Branch, the former known as the Bangko Luzon, before its main office was relinquished to Cabanatuan and before the occurrence of the merger. I was with Armi and we talked to Mr. Jesus Lazo, their Cluster Head (now one of the Executives).

Fortunately we were accomodated and we were to start on Jan. 26 assigned in the Accounting Department under the supervision of Mrs. Florida Cano, Accounting Head. First day, I’ve got mixed emotions, and it was kind of bit nerve-racking to established a harmonious relationship and to work with them. Still they looked welcoming. Honestly I did not bother think for a sec what we could be doing essential with our course as their interns. But I guess I had underestimated my expectations for we did some accounting related works. My first day started a little well.

LEARNINGS AND OBSERVATIONS Some people succeed because they are DESTINED to, but MOST people succeed because they are DETERMINED to. ” This quotation has for itself its essence and were justified apparently. As for those times when their Executive, the former Cluster Head visited the bank and talked to the employees with humor, I have got that feeling that ‘PERSEVERANCE’, not merely intelligence would made one succeed in his endeavors. The way he treated and talked justified that if one grasp that ‘DETERMINATION’,he is undoubtedly to succeed.

Some of my obsevations would include stuff regarding their workplace, ‘habits’ and relationship with their co-employees. I have noticed from the very first day that the Bank kept that ‘closeness’ within their workplace. They managed to have a sort of a light, blissful ambiance that could relieve stress while doing their own thing. That being said ensued in the Accounting Department, at least where we were assigned. Jokes and usual talkings were just usual indeed, yet all seemed professional when it comes in doing their respective task.

I was also able to gain an idea on how their department operated for a single day; have appreciated further the ‘ever dramatic’ Bank Reconciliatiion; learned and did personally how to trace or vouch to check the existence and correctness of a transaction and accounts; and saw how important those internal controls are like transaction authorization.. etc,. And not only those but i handled to stay put, be attentive and have myself open for learnings and those kind of boost my confidence . PREFACE

The purpose of this modest work is intended to serve as an accomplishment report in pursuit of my fulfillment as an apprentice in GM Bank of Luzon Inc. , San Isidro Branch. The paper covered all the activities performed in the apprenticeship, some exceptional, memorable experience, learnings and personal observations, as well as my own genuine relish and appreciation for being able to serve the company even for a short span of time. This work could proved of help to those who may have ocassion to use it, especially to those who were prepared to embrace internship, since nowadays, it had hit its importance.

This could be a ‘trailer’ on how it would like to become an intern in a general perspective so as well to give them some insights and stuff that has to do with it. ACTIVITIES -posting transaction in subsidiary ledger -recording loans(secured) -assisting cashiers -computing for the account ‘due from executive’ -checking the corresponding documents to those of recorded accounts in their proof sheet – computing and recording transactions per branch -fax