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INDUSTRIAL TRAINING
(ITR 3514)
PREPARED FOR:
MADAM NORHASHIMAH BINTI OMAR
PREPARED BY:
MOHAMAD AMIR RAIMI BIN MOHAMAD ISKANDAR
MDA 09-01-022
12 SEPTEMBER 2011
INDUSTRIAL TRAINING
ITR 3514
Name
Student IC No.
Age & Gender
Student No.
Student Tel. No.
KPMs Address
2.0 ACKNOWLEDGEMENT
In this past three months, I had undergone my industrial training in Robert Teo,
Kuan & Co located in Dang Wangi, Kuala Lumpur. The purpose of conducting this study
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is to fulfill the requirement for the Diploma in Accountancy, Kolej Profesional Mara Ayer
Molek (KPMAM).
Here, I would like to take this opportunity to thank you all the individuals that had
been supported and helping me in this past three months. Firstly, I would like to thank
my family who had been supporting me all this years. Thank you for all the tolerant that
you all gave to me.
Next, I would like to acknowledge the following people for their support and
assistance with this internship. I would like to specially thank my supervisor and audit
partner from RSM Robert Teo, Kuan & Co., Ng Thiam Liang and Ms. Tan Yen Feng from
Audit Department. The supervision and support that they gave truly help the
progression and smoothness of my internship program. Their co-operation is much
indeed appreciated. From the officers in charge of the trainee at RSM Robert Teo Kuan
& Co., Ms. Fanny Liang, I am grateful for your assistance and helpful support. I also
want to show my gratefulness to all the workers of Robert Teo, Kuan & Co., who spared
their precious time in helping me with my works and activities.
Great deals appreciated also go to the contribution of my college - Kolej Profesional
Mara Ayer Molek. I also would like to thank to Ahmad Kamel Bin Mat Noor of Industrial
Training Coordinator and all the staff in the office that patiently helping us completes this
program.
Last but not least I would like to thank all my colleagues friends at RSM Robert Teo,
Kuan & Co. especially the seniors, Low Sok Cheng and Kong Seow Teng for the help
and encouragement in finishing the works and tasks given. Without their helped, I would
not have gone through my practical training smoothly.
3.0 INTRODUCTION
3.1 About the Industrial Training
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Practical training is compulsory for all students in Kolej Profesional Mara (KPM)
which is a part of academic credit hour to have a diploma. As an accounting student,
they must undergone practical training for 3 months as per requirement of Kolej
Profesional Mara before they were qualified to receive a Diploma in accountancy.
With the combination of knowledge working experience during the 3 months training,
students are required to produce a written report.
3.2 Objective / Purpose of Industrial Training
The main objective of Industrial Training program is to expose students to actual
working environment and enhance their knowledge and skill from what they have
learnt in the college. Another purpose of this program is to instill the good qualities of
integrity, responsibility and self confidence. All ethical values and good working
practices must be followed by student. It is also to help the students about the safety
practices and regulations inside the industry and to instill spirit of teamwork and
good relationship between student and other employees.
Preciously, I have learned lots of knowledge in auditing, taxation and accounting.
However, I was attracting to the adjusting and reclassification entries (RJE) while I
am doing an auditing on some client accounts. Currently, auditors are able to identify
which errors incurred in the financial statements although it was prepared by an
experience accountant. Finally, this training also helps to assess students ability and
competency in preparation to join workface during completion of studies in KPM.
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Block A, No. 2,
Jalan Raja Abdullah Off Jalan Sultan Ismail,
50300 Kuala Lumpur, Malaysia.
: 03 2610 2888 & 03 2698 6600
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Audit Staf
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5.2 Operation
For the operation side, RSM Robert Teo, Kuan & Co is a firm that
available gives their professional services of Audit & Assurance, Business
Strategies, Corporate Finances, Tax, Risk Management & Internal Audit,
Corporate Recovery & Insolvency, Operational Data Engineering,
Business Process Outsourcing, International Business Centre, and Public
Sector & Public Private Partnership. RSM also offers full range of
professional services which cater for businesses of any size.
Time
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8.30a.m. 12.45p.m.
LUNCH
1.45p.m. 5.30p.m.
Friday
5.3 Marketing
In a marketing side, this firm use brochure and flyers to promote their
services to the public. They also having their own website for a public to
view and know about their firm existence. These firms also hire marketing
communication associates for:
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SPEECHES - Draft
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Another factor that the company can maintain until now is the business
is running automatically between the clients because they have introduced
this company to their friends. RSM also provides detailed strategies and
target driven programmes for a wide range of clients and sectors,from
specific marketing activities to fully loaded marketing campaigns.
Marketing services also offer research and analysis to help client
understand the market and identify new opportunities for growth. Besides,
RSM also offer customer relationship management and telemarketing
services.
5.4 Finance
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In the finance site, the people that have the responsibility to control
firm cash flow in the firm Finance Manager. They will control all the cash in
and out from the firm. Before make or received a payment from clients,
she will get an approval from Dato Robert Teo Keng Tuan, the company
director to verify the payment first and signs if he agreed.
Usually this firm has use computer system to update and control
cash in and out from clients and firm. The system that they use is using
Microsoft Word and Microsoft Excel. All the clients can make a payment
either by cash or cheque.
This firm paid their staff salary through bank such as Public Bank,
CIMB, Maybank and others. It was an easy way to pay salary to the staff
because staff using many different kind of bank. Besides that, they were
also pay to the staff if they have taken overtime.
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programs. I learned a lot in doing the audit programs. First of all, I learned how to
prepare letter of representation which is a summary of all the accounts. Second, I
learned how to prepare the instruction sheets. Instruction sheets include how
many costs include in audit the account. Besides from that, I also learned how to
planning the audit through the audit planning memorandum and audit planning
materiality schedule.
Moreover, I also learned how much audit fee charged for small company,
big company and also medium company through audit minimum fee computation
schedule. Moreover, I got a chance to prepare the financial statement but under
review of the audit partner. Its the most interesting task that I have done.
Although I prepared many schedule, I found that adjusting and reclassification
journal entries is kind of interesting.
Besides preparing the audit programs and working paper, I also given a
chance in doing the tax job. I learned a lot while doing internship at audit firm. Its
not very different from what I have learned in college. The difference is only
because, what I learned in college is in theory, and what I have done in industrial
training is explanation of that theory into the visualization form. From most of the
trainee in the firm, I think I got the opportunity to prepare the tax computation
schedule, capital allowances schedule, tax recoverable schedule, reconciliation
of qualifying and non qualifying expenditure schedule, deferred tax summary
schedule, deferred tax computation schedule and also disclosure items schedule.
While Im doing my internship in RSM Robert Teo, Kuan & Co, I got many
opportunities and benefits. The company provides the annual dinner for staff in
the company and trainee were invited to the dinner. It was fun and great. The
company also provides activities like bowling contest, futsal contest, and also
watch free movie at cinema. I think its a great opportunity for me to be at RSM
because I think other company will not threat trainee like RSM do. Be as a
trainee at RSM boost my confidence level and make me easy to talk to the client.
Training at RSM make me a talkative person and more responsible to myself. I
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also become a punctual person in the office. Every day, I will arrive in the office at
8.30a.m and back to my home at 5.30 p.m.
Sadly my industrial training period ended. My training program ended on
26 September 2011. I feel very glad because I finally finished my industrial
training with success. During 3 month training, I have gained so much knowledge
and valuable experience that I cannot forget. I am also having changed a way of
thinking from negative to positive thinking. I finally can handle myself with the
working life environment, and hope I can use my experience and knowledge that
I gained while further my education.
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letter to the bank and also make me easy to prepare a letter for client
review. Its fast and easy handling. So, I have to know and master the
Microsoft Office software.
7.3 TAXATION
Taxation is the subject that I have taken when in semester five
before my practical training. This subject is very useful to me because
what I have learn in taxation make me easy doing to complete my task
because at my industrial training, I have to prepare tax computation
schedule, calculate taxation include in the client account, prepare
qualifying expenditure schedule and much more. As a result, I have to
calculate deferred tax and also tax computation for company. Usually, if
the business loss, they dont have deferred tax but they have to pay tax
even though the company is at loss. As part of my work, I also have to
prepare income tax for individual, business and company. This subject is
very useful to me because all knowledge that I have learned I can use to
solve my problem about taxation.
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7.5 AUDITING
Auditing is the subject that I learned in semester five together with
the taxation subject. Auditing subject is totally theory subject and its
different from accounting and taxation subjects because auditing is not
include any calculation matter. During my practical training, I get a chance
to do an audit for the client company. There are many works that I done
relate to the audit such as vouching, statutory audit, audit working paper,
audit program, audit report and many more. As a result, I know now what I
learned at practical training is the same as I learned in college.
subject
exposes
the
students
with
more
formal
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winding up engagements and staff recruitment assignments. Even she has many
experience in the past, she is now very loyal to RSM Robert Teo Kuan & Co.
SUPPORTING STAFF
After Interview with the supporting staff, Rajamani A/L Ramiah, also
known as Raja in the office, now I know some about him. He join RSM
Robert Teo, Kuan & Co. on 5th January 2009 and now still working with
RSM until today. He is a friendly person, energetic, cool and innovative
person. His work is handling the administration work filing, ROC. Besides,
he also handles the client search (CCM), courier and posting, the
document of RSM. Even though he is a clerk at RSM, he got many other
works to do, like maintenance, follow up all the clientele files, handle all
files, keep all files in order and also record every person who take the file
so that the file will not be missing. He doing great with his job and love
every work he do.
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Lastly, I suggest that company should provide open classes to trainee to train
themselves in doing the audit task and to manage the account well without any errors
and mistakes.
In overall I am quite satisfied with the School of Management effort in making the
program perform smooth and successfully. However there were some part that has to
be improving, such as the school information and preference channel related to the
industrial training program, which now not quite satisfying. For example I am having
some difficulty to get confirmation from the school whether they have received my
interim report.
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where the students are able to apply their knowledge they have learned before into the
working job and gaining more useful lesson from the training.
Apart from that, these programs also inspired students to gain more effort to
success in their life because they sometimes know how hard to achieve some goals
while they in the job field. While they in the work field, they can ask the supervisor or the
manager to give an opinion about students attitude and work they done and also ask
them to give an advice on how to success in life. All of these will make us practiced to
be more discipline when working in the future undertakings.
Moreover, these programs also support the students in obtain the experience on
how the work might be done well, how to manage the quality of the work, tips and idea
by the senior employer and so much more. Besides this experience will never students
get while learning in college because what they learned in college only in theory terms.
Lastly, these programs also encourage the students to socialize with the office
members and how to behave with the seniors and superior while doing the job. This is
very importance because not all students have the guts to talk and communicate with
others workers especially that they are the same age as their father and mother. Due to
the fact that students mostly less talk to the others workers, this is a chance to know
everyone and make them apart of their life.
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CONCLUSION
They are a great opportunity having an internship programme in RSM Robert Teo
Kuan & Co. Besides the experience gained during the 12 weeks it is widen up my minds
on what is mean by working environment. I have covered the knowledge of auditing,
accounting and taxation during my time spent inside the company. Through this training,
I have learned much technical and non technical stuff. About non- technical stuff, I
learned such as way managing the relationship between workers and boss, the right
attitude in solving problem, and the way to deal with clients.
From safety briefings, I managed to follow all safety procedure and regulation set by
the organization. I complete my training program without any accident and completed
the task given in time. I learned how to do the audit programme, audit working paper,
how to solve the case, how to deal with client and so much more. All of this learning
make me realized that auditing is fun and interested although a lot of stress coming
through.
From other department, mostly I learned about how to get a tax computation,
form C, and form R from tax department. In addition, I also learned how to give a copy
of financial statement and also to ask for director signature from that department. From
secretary department, I also learned how to get the information for statutory records,
annual return and forms related.
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The most memorable parts that I gained during my training are the true friendship
express from the staff and my colleagues.
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