First and foremost to our Almighty God, for giving me enough strength for daily training for the guidance and especially good health, and for the financial provision that sustained my daily expenses. To our Dean of Business Administration, DRP. Inertias Rexes, thank you for the utmost approval. For your support and always being there for all the queries I have. TO our professor and JOT Coordinator, Mr… William Aviary, for challenging and giving us instructions and encouragements before, during and after our On- the-Job Training. Your guidance helped me achieved my aspirations and ideals as I go along with my journey in life. Thank you Sir! To Emus Rural Bank, Inc, thank you for the warm welcome and giving me this one of a kind experience having my JOT in your company and corporate world.
For the chance that you have given me to be with your Accounting Department Team and for helping me to hone my knowledge in this fast and furious world of corporate as continue to strive my ambitions in life. To Accounting Department Head, Mr… Joel A. Hearer, thank you for letting me experience and feel how was it to be in your department. Your busyness et me realized that corporate world is full of challenges. For giving me a chance to explore the real world of accounting, finance and audit. Thank you for letting me experience some accounting and auditing hands-on work. I really appreciate how you patiently taught me and for the time you’ve spent instructing me what to do.
To Main Branch Manager, Mrs… Elise O. Dominique for the support you had given on me. Have learned a lot from you Ma’am. This time, you really made this Internship at the Emus Rural Bank, Inc a challenging one for me. To my Parents and friends, my deepest gratitude and appreciation for being tit me all through the way from the very beginning and for showing your unconditional love and unending support financially, emotionally and spiritually. On-The-Job Training (JOT) is a form of training taking place in a normal working situation. On-the-job training describes the process of teaching an employee to complete the key activities needed for their job after they are hired.
Read about this practice, learn to recognize what it looks like, and take a test (training: hands-on) to test what you’ve learned. On-the-job training, sometimes called direct instruction, is one of the earliest forms Of training observational learning is probably the earliest). It is a one-on-one training located at the job site, where someone who knows how to do a task shows another how to perform it. In antiquity, the kind of work that people did was mainly unskilled or semiskilled work that did not require specialized knowledge. Parents or other community members, who knew how to do a job necessary for survival, passed their knowledge on to the children through direct instruction.
JOT is still widely in use today. In fact, it is probably the most popular method of training because it requires only a person who knows how to do the task, and the tools the person uses to do the task. It may not be the most effective or the most efficient method at times, but it is normally the easiest to arrange and manage. Because the training takes place on the job, it can be highly realistic and no transfer of learning is required. It is Often inexpensive because no special equipment is needed other than what is normally used on the job. The other Side is that TOTS takes the trainer and materials out of production for the duration of the training time.
In addition, due to safety or other production factors, it is prohibitive in some environments. 1 . Objectives of the JOT Program The objective of On-job-training (JOT) is directly related to the teaching learning experiences and should help the student to: Enhance their knowledge and skills acquired in the classroom in order to become more responsive to the demands of the students’ related course profession. Develop the value of professionalism, love of work and commitment to people they serve. Apply the relevant theories of students’ profession and Code of Ethics into practice. Feel and experience the actual world of work in computerized services.
Fill areas of gaps with knowledge and skills, and hanged all negative attitudes to positive attitude. Fulfill organizational long term goals I. E. Vision, and quality objectives. Adopt proactive and zero defect culture. Encourage innovative and creative ideas of employees for optimum use of materials. 2. Importance of the JOT Program It is an avenue for applying enriching and enhancing the acquired knowledge in the school in their particular field of endeavor. It is a way of changing the students outlook in life through exposure in the performance of actual work relevant to IT that may serve as a stepping-stone for future career. It develops interpersonal relationship with other employees within the cooperating agency. 3.
Time Lost due to Illness of Other Reasons Time lost because of personal reasons, including illness must be made up. Only with the approval of the CO T Coordinator or the Supervisor can the student take time off for personal reasons. Students are allowed the regular holidays and may be observe religious holidays, however; any time lost must be made up. They are also allowed to attend symposia, however; must be made up if scheduled on a working day. 4. Attendance to Orientation Seminar Workshops and Conferences On-the-Job Training students are required to attend the orientation seminar and workshops before they are endorsed to their respective offices.
The conferences are held as a way to monitor the activities of the students and to give them opportunity to thresh out problems they encounter in their respective offices. 5. Uniforms Students undergoing On-the-Job Training should wear their School Uniform/ JOT Uniform/Corporate Attire when they report to their respective offices. Bachelor of Science in Business Administration Major in Management Accounting Program The Bachelor of Science in Business Administration major in Management Accounting program (BIBS-MA) is designed to provide dents with the principles of business management with orientation in accounting. The accounting profession is experiencing rapid change as a result of technology and a global economy.
Accounting graduates must be prepared to succeed in this rapidly-changing business environment. Emus Institutes’ Bachelor of Science in Business Administration Major in Management Accounting Professional Program provides students with a sound knowledge of the theory and practice of accounting and the skills necessary to stay abreast of continuing developments. It encourages students to recognize the importance of professional ethics, personal responsibility, ND the continuing development of leadership skills. The Program aims to develop the business competency and management level skills needed in order to drive business performance and establish a quality financial practice.
Career opportunities for graduates of BIBS in Management Accounting program in the Philippines Accounting Officer Accounting Systems Analyst Business Manager Project Evaluator Treasury Analyst Assistant Researcher Researcher Senior Manager Finance Director Chief Executive Management Consultant Investigative Forensic Accountants Controllers Business and Financial Analysts Special Project Accountants A Bachelor of Science in Business Administration in accounting program is designed to provide students with knowledge of financial and managerial accounting concepts, accounting policy choices and ethics in accounting. Some programs allow students to further specialize in more specific areas of accounting such as managerial or financial accounting. Students gain hand-on training with accounting software through learning labs.
Upon graduating and in anticipation of becoming Certified Public Accountants, students of these programs may be prepared to sit for the Uniform CPA examination. Admission into a BIBS program typically requires a high school diploma or the equivalent. Continuing Education and Professional Licenser Graduates of bachelor’s degree programs in accounting can further their studies through a Master of Business Administration (MBA) in accounting or financial management. These 2-year programs are available in traditional classroom formats or may be available through distance learning. Students often take international trips to learn about business in another country as part of their MBA studies. Professional licenser requirements depend on an individual’s chosen career. For example, the U. S.
Bureau Of Labor Statistics noted that accountants filing with the U. S. Securities and Exchange Commission must be a CPA. The American Institute of Certified Public Accountants (Aspics) noted that an accountant be proficient in two areas education and experience – and pass the certified public accountant examination in order to practice as a CPA. Certified Management Accountant (CAM) A Certified Management Accountant (CAM) is an accounting specialist who works for businesses to inform their financial procedures and decisions. The CAM is the globally recognized, advanced-level credential appropriate or accountants and financial professionals in business.
Achieving the CAM demonstrates your professional expertise in financial planning, analysis, control, decision support, and professional ethics – skills that are in demand by organizations around the world. Whether you want to enhance the value you bring to your current position, or expand your career potential, the CAM will help you set the standard for professional excellence. Company profile Emus Rural Bank, Inc. Was incorporated with the Securities and Exchange Commission on February 27, 1953 with SEC Registration No. 7386. It was the second rural bank to be incorporated in the country. It was not only corporate in structure and character but truly corporate in ownership.
It also has the distinction of being the first rural bank in the whole province of Cavity with its first office located in dimly-lit space inside the warehouse of Former Decapitating Rice Mill in policy, Emus Cavity. At present, RIB, the acronym by which it is known to employees and clients alike, is now a showcase of the government’s success rural banking program. In fact, it has been fully independent of the re-discounting assistance program of the Bangkok Central Eng Philippians (BSP). This was made possible by the fact that the bank has, through the years, been continually increasing its capital stock in response to the increasing capital demand for credit by the agricultural sector even without any call for capital build up from the banking authorities.
Aside from its role in providing credit assistance to the people of Emus and environs, the Emus Rural Bank not only maximized profit but also remains and continues its role as a service oriented bank. It has financed the concreting of the gymnasium at the Emus Pilot Elementary School (PIPES) as well as sponsoring seminars that benefited and allowed additional sources of polished to the people of the town through its piggery and poultry programs held jointly with the University of the Philippines College of Agriculture. The Board Of Directors, cognizant Of the changing demographics and economic realities in its sphere of operation fully realized that the agricultural sector is now slowly diminishing and becoming minimalists.
They are fully aware that the Bank must adapt to this changing times and must re-focus its thrust from the agricultural sector to the needs of the small and medium scale industrial entrepreneurs which should provide the engine for the economic growth not only of the municipality of Emus but of the whole country in general. The Bank is committed to deliver products and services that surpass customer expectations in value and every aspect of customer services, while remaining to be prudent and trustworthy steward of their wealth. This is made possible by the presence of an efficient work force of employees and staff distributed into the Main Office at Cool. Sappiness SST. , and its branches located at the Emus Public Market and at Million II, Bacon cavity. Life purpose “To provide credit, financial and other related services in communities where
Emus Bank operates. ” Vision A progressive, reliable bank providing personalized, fast, efficient services responsive to the emerging needs of the community. 1 To develop, improve and expand customer relations and bank services. 2. To generate funds from various sources to support expanded and diversified services. 3. To optimized the use of assets to enhance sustainable groom. 4. TO create and sustain harmonious and professional relationship among staff, customers and the public for the common good. 5. To develop, establish and maintain a functional human resource development or management program. 6. To promote and foster shared values and vision.
Expectations in On-The-Job Training (JOT) Being an On-The-Job Trainee in Emus Rural Bank, Inc, I am indeed very grateful for somehow reaching my expectations: EXPECTATIONS Application of accounting knowledge understand and earn how banks operates Develop communication skills Exposure to working environment and atmosphere Familiarize oneself with documents Understand banking terms Develop self-confidence Work under pressure Develop character, attitude and personality Enable learning and personal development Apply myself to the training and make effort to learn the skills need to gain a lubrication Understand that I’m making a commitment to my workplace and that I’ll be responsible for my workmates and work property Complete the training both on and off the job Mingle with all the employees in my work area Experience extraordinary things and feel how is it to be in the corporate world Boost my self-confidence in dealing with people (employees, clients and other trainees) Enjoy each day with the thought that am learning new things as time passes by Learning’s and Activities Date: October 22, 2014- March 10, 2015 October 22, 2014, was my first duty at Emus Rural Bank, Inc. Main Branch. This is it!
That was my first day of my first duty at Emus Rural Bank, Inc ; Main Branch. I arrived at Emus Rural Bank at exactly 8:30 in the morning. Mrs… Elise O. Dominique, the Branch Manager, decided to put me as an on-the-job trainee at the Accounting Department headed by the Chief Accountant Mr… Joel A. Hearer. Ma’am Dominique introduced me in the CASE Department, Cashier Department, Loan Department, Internal Audit Department and finally in the Accounting Department. At around 9:00 in the morning, took my place in the Accounting Department. I was so nervous but as I entered the Accounting Department, I felt a great joy. My superior – Mr… Joel A.
Hearer, introduced me to the officers of their department to wit: Ma’am Gene (Acting Accountant), Sir Junk (IT Professional), Sir Roberto (Accounting Assistant), Sir Andy (Loan Processor), Sir Serge (Loan Processor), Sir Allan (Appraiser) and Sir Lit (Chief Appraiser). Sir Joel gave me my first task – to read the Financial Reporting Package and after I read it, I’m going to take a quiz about that. Less a more than 500 pages of principles about bank account title and their respective treatment. I finished reading the review materials around 1 1 o’clock in the morning. Sir Joel told me to take a rest until 12 o’clock. In the afternoon at 1:00 PM, Sir Joel gave my first hands-on work.
Sir Joel gave me the deposit slip and withdrawal slips. He told me that needed to validate the deposit and withdrawal slips. In validating the slips, I needed to check the account number, the account name, the date (post or ante-dated), and the amount deposited Or withdrawn. After the validation, I photocopied some important documents of transactions and forwarded it to Sir Allan and Sir Andy. I treasured the learning’s and moments that had with my supervisor and other employees of the bank. As the month of October progresses, learned a lot of things through experiences, documents, communication and as well as the different tasks and duties I performed.
I always had routine works in the morning and afternoon to wit: reading and reviewing the Financial Reporting Package, validation of deposit slips and withdrawal slips (savings account withdrawal slips, savings account deposit slips, current account withdrawal slips and current account deposit slips), preparation of the cash transfer slips, preparation of peso cash deposits, preparation of payment slips, validation Of the cash transfer slips (if the cash transfer slips ere already prepared), validation of the peso cash deposits (if the peso deposit slips were already prepared), validation of the payment slips (if the payment slips were already prepared), validation of the proof sheet report, validation and checking of the ticket consolidation report, audit of Trial Balances (Main Branch, Million Branch, Emus public Market Branch), audit of Trial Balance with DAB and Interim Reporting, audit of collections from the Internal Audit Department, weekly report on required and available reserves against deposit liabilities, updating the records of appraisal, reconciliation of he dead files, updating the amount and recording of the ARPA checking of the daily ticket transactions, validation of the cashier’s check, validation of the managers check, filing of important documents and photocopying of documents (audited financial statements, auditor’s report, BSP Circular Memorandum, Audit Letters and Memo, ABA Report, ABA Forms, Credit Investigation Forms, Land Title, Secured and Unsecured Loans Applications, Appraisal Report, daily ticket transactions). The duties, tasks and responsibilities I had as an on-the-job trainee in the Accounting Department of Emus Rural Bank, Inc helps me a lot. These tasks and duties imparted the knowledge, skills, and attitudes and as well as the core values that I need to be a professional accountant someday. First, the reading and reviewing of the Financial Reporting Packages.
The Financial Reporting Package (FRR) is a set of financial statements for prudential reporting purposes composed of the Balance Sheet, Income Statement and Supporting Schedules. The FRR is primarily designed to align the BSP reportorial requirements with the (1) provisions of the Philippine Financial Reporting Standards (PARS)/ Philippine Accounting Standards (PAS) and (2) Basel 2 Capital Adequacy Framework. It is also designed to meet BSP statistical requirements. This first task thought me a lot. Although reading and reviewing the Financial Reporting Package is a tricky and hard one, it definitely helps me to enjoy reading, understanding, applying and internalizing the knowledge that I’ve learned from it.
It helps me to broaden, flourish and improve my understanding about how a bank operate, how it deals with bankruptcy, how it performs debt restructuring, and the different accounting principles and treatments it observes and complied with. The Financial Reporting Package deals with the different count titles and their respective treatments and principles to be observed when dealing with such transactions or events. It helps me to be familiar with the different accounting transactions that a bank has. I enjoyed reading and reviewing the Financial Reporting Package. Second, validation of deposit slips and withdrawal slips (savings account withdrawal slips, savings account deposit slips, current account withdrawal slips and current account deposit slips).
These tasks let me to validate the account name, the date of deposit or date of withdrawal, the lump sum of amount deposited or withdrawn, the reawaken of amounts deposited or withdrawn (if any) and as well as the signature of the depositor or the one who withdraw. The validation Of the deposit and withdrawal slips test my patience. There are times that bulks of slips that I need to validate and finish on time but still I let my patience work and develop me as a whole. Third, the preparation and validation of cash transfer slips, peso cash deposit and payment slips. These tasks are very similar with the validation of deposit and withdrawal slips.
All I have to do is to check the validation done by the cashier or the teller and in some special ease, I will assist Sir Joel Hearer in preparing the cash transfer slips, peso cash deposit and the payment slips. Fourth, the validation of the proof Sheet Report. In validating the proof sheet report, I Will just compare the amount of the recorded transactions to the individual tickets that my superior will give t me. Also, in most instances, I will compute the amount of the transactions and record it to the proof sheet report. Fifth, validation and checking of the Ticket Consolidation Report. In this task, will validate and check the amount of each tickets being received by the Accounting Department from the CASE Department, Loan Department, Collections Department and the Internal Audit Department.
If there is a mistake, will inform the officer responsible for that ticket and will check it to the ticket consolidation report given by Sir Joel. Sixth, Audit of Trial Balances (Main Branch, Million Branch, Emus Public Market Branch). This task is the one that I liked most. The audit of trial balances is an easy yet a tricky task. First, you must definitely know the contents of the financial reporting packages and being able to familiarize with the different accounting principles and treatments. Simply computing the trial lance itself and compute the breakdown for each financial statement items. Seventh, Audit of Trial Balance with DAB and Interim Reporting.
In doing this type of audit, I will compare the amount posted in the Trial Balance with DAB to Trial Balance in Interim Reporting. I will validate the amounts recorded in the Interim Reporting to the Trial Balance with DAB. If there is a mistake or error, I will just write it down to a special paper and report it to Ma’am Gene. I will compute the breakdown of the amount that has been mistakenly recorded. I will trace the genesis of the amount, the sources, the principles applied and as well as the posting done by Ma’am Gene. Eighth, Audit of collections from the Internal Audit Department. This task was given by the Internal Auditor in Emus Rural Bank, Inc – Ma’am Florien.
The objective of this task is to identify the errors in the transactions done by the CASE Department, Loans Department and the Collections Department. In auditing the collection, I will validate the account name, the date of collection and as well as the amount being collected. After auditing the collection, will trace it to the Number Control that contains all the collection number and I will check t as a sign of being audited. Ninth, weekly report on required and available reserves against deposit liabilities. Always do this task every Wednesday. Will compute the cash on hand, the saving deposit, the demand deposit and as well as the retained earnings. The information was extracted from the Trial Balance with DAB.