Practicum Manual

For the Department of Accountancy of the University of San Carlos

Revised (1st Semester 2015 - 2016)

Revised by:
Ritchie Z. Tejana
Student Training Program Coordinator (AY 2015 2016)

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UNIVERSITY OF SAN CARLOS

School of Business and Economics
Department of Accountancy

PRACTICUM MANUAL
AC523 or AC524 for the
Bachelor of Science in Accountancy (BSA),
Bachelor of Science in Management Accounting (BSMA) and
Bachelor of Science in Accounting Technology (BSAcT)
The time to narrow the gap between academe and industry should be done early on in the Bachelor of
Science in Accountancy (BSA), Bachelor of Science in Management Accounting (BSMA) or Bachelor
of Science in Accounting Technology (BSAT / BSAcT) program. For the learning process to impact on
the day-to-day life of the student, there is a need to understand the realities of the actual business
environment.
Students have to be made aware that the classroom is entirely different from the business setting through
actual exposure in the workplace. This is a way to indirectly condition them to the life after their
Accountancy, Management Accounting or Accounting Technology program.
The Practicum Program is a direction geared towards the further comprehension of classroom theories as
applied to the practice world.
The following matrix, after taking into account the CHED Memorandum Order No. 23 Series of 2009,
shows information for AC 523, AC 524 practicum of the BSA, BSMA and BSAT/BSAcT programs of
the university.
Particulars

Practicum

Objective

To be able to narrow the gap between knowledge and

skills acquired in the classroom versus knowledge and
skills acquired in the working environment

Who shall enroll in the

Practicum Course

BSA/BSMA/BSAcT students who have completed their

3rd year level requirements

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When offered

Second semester of 4th year (for BSA/BSMA/BSAcT

enrolled in AC 523)
Summer of 5th year (for BSA enrolled in AC 524)

Nature of practicum work

4.1

Industry

For BSA, areas relating to accounting, auditing, finance

or taxation; For BSMA/BSAcT, areas relating to
accounting, finance or taxation
BSA students should, as far as practicable, render their
practicum in different sectors for AC 523 and AC 524
and one must in the Public Practice. The four sectors of
the Accountancy profession are Public Practice,
Commerce and Industry, Government and Academe.

Required practicum hours

Minimum of two hundred (200) hours for BSA and

BSMA
Minimum of four hundred (400) hours for BSAcT
The duration of the practicum is around ten (10) to
twelve (12) weeks during the first and second semester,
while around five (5) to six (6) weeks during the
summer term
The required man-hours for BSAcT is 400 hours to be
taken in the 2nd semester of the school year.

Number of units

3 units

Dress code

STP uniform or office attire

Minimum and Maximum

number of hours per day of
practicum

4 hours (continuous); 8 hours maximum; (for Summer 8 hours/day or 48 hours/week)

Initial practicum requirement

Incoming 4th year BSA/BSMA students or incoming 3rd

year BSAcT students

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Accreditation of Companies

The department will provide a list of accredited

companies for the practicum program. Companies
who wish to be accredited need to submit the
following and are subject to the approval of the
chairperson and the practicum coordinator:
10.1 Letter of Intent
10.2 Company Profile
10.3 Practicum Proposal (Scope of Work to be assigned

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to the trainee)
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Enrollment requirement

Enroll in AC 523, AC 524

Submit AC 523, AC 524 Admission Slip and
Parents/Guardians Certification of Waiver/
Permission (Annex 1) to practicum
adviser/coordinator

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Initial work requirement

Make an application letter.

Endorse the application letter to the practicum adviser
(Annex 2).
The enrollee, after being accepted, shall provide the
company the following:
1. Thank You Letter (Annex 3)
2. Memorandum of Agreement (MOA) which shall be
signed by the USC VPAA and the company
authorized official. (Softcopy is provided in the
Facebook Group)
3. Daily Attendance Record (Annex 4)
4. Performance Evaluation Sheet (Annex 5)
The enrollee also needs to submit to the practicum
coordinator a copy of the Student Information Sheet.
(Annex 8). This should be included in the compilation
report. The student is also required to fill-up the OJT
database for their information sheet in lieu of
separately submitting a Student Information Sheet.

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Practicum Culminating
Activity

Nos. 3 & 4 above are to be filled out by the company.

The Department Chair will issue a Certificate of
Appreciation to the companies accommodating USC
student trainees and Certificate of Completion for USC
student trainees who have completed the OJT
requirements.

Objectives
1. To be able to share the experiences in the work place
2. To increase the confidence level of the student
3. To strengthen the partnership with the business
partners
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Practicum Grading system

The final grade is equitably computed based on the

following criteria:

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Adviser's Rating:
Daily Journal (Annex 9)1
Compilation - Form & Completeness2
Compilation - Content
Total Adviser's Rating

20%
10%
20%
50%

Supervisor's Rating3

30%

Attendance4

20%

Grand Total

100%

Additional information:
1
Daily Journal also includes the Time Budget. Daily
Journal should be submitted weekly to the
corresponding adviser.
2

The compilation should include the ff.:

-Company Profile
-Signed Weekly Progress Report Compilation
-Assessment of Practicum Program (Learnings,
Experience, Most Memorable Event,
Recommendations for the STP and Advice for Future
Student Trainees)
-Application Letter
-Acceptance Letter
-Student Information Sheet
-Parent's Certification
-MOA
-Completed Time Budget
-Daily Attendance Record
-Certification of Completion of Practicum Hours
-Performance Evaluation Sheet

In case the student trainee has more than one

evaluation sheets, the average rating of the supervisors
is used.

Attendance also includes the ff.:

-Batch orientation
-Group orientation
-Class meetings
-Culminating Activity

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Student Training Program (STP) Coordinator

Role:
The STP Coordinator will supervise the effective design, planning, implementation and evaluation of the
student training program of the Department of Accountancy. He/She will liaise with various partner
organizations and jointly develop with them training plans with the end goal of making the student
apprentices better equipped with professional competencies ready to embark on a professional career.
Duties and Responsibilities:
Conveys the purposes, objectives and requirements of the apprenticeship program to students,
advisers and site supervisors.
Develops the schedule of activities for the student training program for the semester which shall
include the four basic components, namely: (a) preparatory activities; (b) student placement
mechanism; (c) monitoring system; and (d) evaluation process.
Conducts orientation for incoming students as part of the preparatory activities of the student
training program.
Maintains and updates the directory of accredited partner organizations/institutions for the
student apprenticeship placements and endeavors to expand this network.
Maintains database of students files containing necessary documentation (e.g. Memorandum of
Agreement (MOA)/contract, application letters, curriculum vitae/resume, evaluation forms,
placement letters, waiver, etc.)
Convenes a focus discussion meeting with the partner organizations/institutions, together with
the advisers, Department Chair and Vice Chair to facilitate constructive feedback for the
improvement of the program.
Oversees all administrative responsibilities associated with the apprenticeship program in terms
of preparation of MOA, endorsement letter, evaluation and submission of final grades.
In coordination with the advisers, collaborates and conducts on-site visits with the
institution/company, when necessary, for purposes of administration, assistance, monitoring and
evaluation of the students performance to improve the apprenticeship program and strengthen its
linkages for building future demand.
Serves, if and when necessary, as a mediator between the participating institution and student.
Meets with students, advisers and partner organizations during the semester, in a group setting,
for the purpose of bringing them together to share their experiences and to suggest improvements
to the program.
Meets with the advisers regularly to assess the progress of the training of the student apprentices
and get timely feedback on level of actual practical learning being acquired by the student
apprentices and to recommend interventions and corrective measures, if necessary.
Sends letters and tokens of appreciation, if necessary, to forge closer ties with the affiliating
institutions/companies.
Submits all necessary documents and reports monthly to the Department Chair for completion of
reports and other evaluations.

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Student Training Program (STP) Adviser

Role:
The STP Adviser supervises the training program of assigned student trainee through an effective
monitoring mechanism of apprentices work performance and decorum. This is done by ensuring that
quality consultation and intervention are exercised with creativity and flexibility so as to achieve a
competent and a well-rounded graduate ready to embark on a professional career.
Duties and Responsibilities:
Participates in the preparatory activities and assists in the student trainees placement in
coordination with the STP Coordinator.
Assists students in the prompt placement process so that they are trained only in accredited
partner organizations and prevent their placement in companies whose owners or supervisors are
related to the trainee up to third degree of consanguinity.
Establishes meeting at least once during the semester with the student trainees to discuss the
learning objectives, activities and issues/concern relevant to the progress of the training, except
for special cases where periodic discussion is a must.
Reviews the student trainees daily journals to assess the students training progress and
intervenes any shortcomings whenever possible to provide timely course of actions and
recommendations.
Collaborates and conducts on-site visits with the institution/company of his/her advisees for
purposes of assistance, monitoring and evaluation of the students performance to improve the
apprenticeship program and strengthen its linkages for building future demand.
Verifies the report submitted by the student trainees by communicating with the site supervisor
when necessary.
Convenes student trainees to facilitate constructive feedback for the improvement of the
program.
Submits monthly reports to the STP Coordinator about the status of students placements, on-site
training, attendance, attitudes and issues concerning the students activities. The contents of the
monthly report are as follows:
a. Accomplishments
a.1 by the Adviser (including outcome of company visits)
a.2 by the Advisees (technical skills developed)
b. Learnings by the Advisees (soft skills developed)
c. Deficiencies/Concerns (with corresponding Action Taken/Proposed Solution)
d. Future Activities
e. Schedule of Transportation Expenses for Reimbursement
Attends meetings regularly convened by the STP Coordinator or when necessary.
Assigns students final grades based on the established criteria for grading, encodes it to the
system and submits a printed copy of the final grade computation to the STP Coordinator.

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Student Trainees
Duties and Responsibilities:

Submits to the practicum adviser a copy of student information sheet (Annex8) once accepted
from work and a copy of the letter of acceptance from the company and within a week from the
first day of work.
Secures the notarized Memorandum of Agreement with the corresponding signatories.
Prepares Daily Journals (Annex 9) which will be submitted weekly to the respective advisers.
Attends the OJT orientation, group discussion with the practicum adviser on a regular basis and
OJT culminating activity.
Notifies the practicum adviser promptly of any changes.
Submits the Written Practicum Paper (Annex 7) (inside a long size clear book) one week after
the last day of the practicum period.

Guidelines for Student Trainees:

Duty hours will be credited only for companies that are accredited.
For the protection of all parties involved, it is necessary that the MOA be processed before the
start of the actual OJT. The hours to be credited for OJT will start from the date stamped by the
Department as the date when it received the MOA.
The student trainees must render a minimum of four (4) continuous hours per day and maximum
of eight (8) hours per day. The minimum number of hours to be rendered shall be twenty four
(24) hours per week during the first semester and second semester or forty (40) hours per week
during the summer term and a maximum of forty-eight (48) hours per week.
BSA students are required to have their practicum equivalent to two hundred (200) hours in
companies belonging to the public practice or any auditing/consultancy-related job and another
two hundred (200) hours in firms belonging to the commerce and industry or government.
Each Daily Journal (Annex 9) should be submitted on or before the Saturday following the week
covered by it. The OJT hours will not be credited if the student trainee submits the Daily Journal
after the weekly deadline.
The Time Budget (Annex 10) should be filled out regularly. In preparing it (from the first Daily
Journal), the Budget column should be completed already for the whole duration of the
practicum with a minimum of two hundred (200) hours. The Actual hours column should be
filled out regularly, with a corresponding increase in total Actual hours, for each Daily Journal
until the student trainee reaches the last week of the practicum.
Students are not allowed to do their practicum in companies that hire their relatives up to the
third degree of consanguinity. This includes relatives who are not the direct supervisor of the
student, relatives that are working in another department, or any relative who can influence the
students performance evaluation.

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Annex 1: Parents/Guardians Certification of Waiver/Permission

CERTIFICATION
This is to certify that I am allowing my <son/daughter>, <Student Name>, to attend a practicum
(on-the-job training) for a minimum of 200 hours on <start date> until <finish date> at <company
name> in partial fulfillment of the requirements for the degree in <Bachelor of Science in
Accountancy/Bachelor of Science in Management Accounting/Bachelor of Science in Accounting
Technology>.
It is understood that <he/she> abides by the rules and regulations that may be imposed by the
Supervisor/Staff-in-Charge for <his/her> welfare and safety.
I fully agree to waive any responsibility on the part of the University of San Carlos, <company
name>, and/or their representative/s, in case of any untoward incident that may happen to my
<son/daughter> during the duration of the practicum.

<Name of Parent/Guardian>

<Signature>

<date>

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Annex 2: Sample Application Letter (To be sent to the company where the students will have their
practicum training)
<Date>

Ms. ___________________________
Human Resource Manager
XYZ Corporation
Address
Dear Ms. ___________________________:
Good day!
I am <Student Name>, currently a 4 th year student of the University of San Carlos taking up Bachelor of
Science in <Accountancy/Management Accounting/Accounting Technology>. I learned that the
accounting and finance department of your company is accepting student trainee. It is my great interest
to fill in the position as it is also one of my course requirements. The program requires me to undergo a
practicum of at least two hundred (200) hours to any company of my choice.
I believe my education has equipped me with the necessary knowledge and skills needed for the tasks
and activities that I might undergo in your company. My available schedule for practicum will be every
<schedule>, since I will have my classes every <schedule>.
Attached are my resume and the USC Guidelines for Practicum for your perusal. I would be very
willing to come to your office for an interview at your convenience. You can contact me through my
mobile phone at 0922-XXX-XXXX. I am hoping to hear from you soon.
Sincerely yours,
<Student Name>
Endorsed by:
<Practicum Coordinators name>
Practicum Coordinator
Department of Accountancy
University of San Carlos

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Attachment to Annex 2 (To be sent to the company together with Annex 2)

UNIVERSITY OF SAN CARLOS
School of Business and Economics
Department of Accountancy
GUIDELINES FOR PRACTICUM
June 1, 2015

Incoming 3rd year or 4th year students are required to undergo a practicum program for a total of
<200 hours for BSMA, 500 hours for BSAcT students> or <400 hours for BSA students>.

The student is required to enroll in practicum as a 3-unit requirement.

Each student shall submit a practicum proposal for new companies which will include the
following details:
Nature of Work
Timetable/Schedule
Company Profile
Company Address & Telephone Number
Contact Person
Relevance of work to the Accountancy, Management Accounting or Accounting Technology
program

Upon approval of the practicum proposal, an application letter will be prepared and sent by the
student, after the same is endorsed by his/her respective practicum adviser.

The student shall furnish the practicum adviser a letter of acceptance from the company within a
week from the first day of work. In addition, the student shall secure a letter of thanks from the
adviser, Daily Attendance Record, and Performance Evaluation Sheet to be delivered to the
company where the practicum student is working.

The practicum adviser shall make a prearranged visit to the workplace where the practicum
student is assigned.

The student shall prepare a report paper on the practicum experience. It is submitted together
with the Daily Attendance Record , Performance Evaluation Sheet and Certification of
Completion of Practicum Hours to the practicum adviser.

Group discussion on the work experience will be done on a regular basis with the department
chairperson or practicum adviser.

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Annex 3: Thank You Letter (To be sent to the company where the student is going for practicum upon
receipt of the letter of acceptance)

School of Business and Economics

Department of Accountancy

<Date>
Ms. _________
Human Resource Manager
XYZ Corporation
Address
Dear Ms. ___________:
We wish to thank you for accommodating <Student Name> as an accounting student intern in your
company.
We hope to be able to pursue the internship program with your company in the coming semesters. Should
you wish to receive more interns, please email to us your intent, so that we can communicate with you and
select the appropriate interns for you.
Thank you for your support in this undertaking. We look forward to establishing a continuing mutually
beneficial relationship with your company.
Very truly yours,

<Practicum Coordinators Name>

Practicum Coordinator
Department of Accountancy

University of San Carlos P. del Rosario Street,Cebu City Phone: 253-1000 loc.210 e-mail: bsadept@usc.edu.ph

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Annex 4: Daily Attendance Record (To be filled out by the company on a daily basis)
UNIVERSITY OF SAN CARLOS
School of Business and Economics
Department of Accountancy
PRACTICUM DAILY ATTENDANCE RECORD
Name of the Company: _______________________________________________
Department: ________________________________________________________
Name of Student: ____________________________________________________

DATE

TIME
IN

TIME
OUT

SIGNATURE

DATE

TIME
IN

TIME
OUT

SIGNATURE

EVALUATORS NAME: ____________________________________________________

Position: __________________________________________________________________
Signature: _________________________________________________________________

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Annex 5: Performance Evaluation Sheet (To be filled out by the company upon completion of the
practicum hours and to be placed inside a sealed envelope)

University of San Carlos

School of Business and Economics
Department of Accountancy

STUDENT TRAINEES PERFORMANCE EVALUATION SHEET

Name of Student: _______________________________________________________________
Course: __________________________ Semester/Academic Year: 2nd Semester, CY 20152016
Name of Establishment: __________________________________________________________
Evaluated by: ________________________ Department/Section: _______________________
Nature of Work Performed by the Trainee: ________________________________________
Period Covered by the Evaluation: ___________________________________________
Please rate the student trainee according to the following scale:
5 Excellent; 4 Very Good; 3 Satisfactory; 2 Needs Improvement; 1 Unacceptable

The student trainee:

1.Maintains professionalism in both appearance and attitude.
2.

Reports for work promptly and regularly.

3.

Makes optimum use of working time.

4.

Has the ability to set priorities in his/her work in a day/week.

5.

Can effectively apply he skills and knows how to meet set standards of
his/her job.

6.

Can comply with the quantity of work required or the amount of acceptable
results within a prescribed period.

7.

Can submit quality work in which the intern observes accuracy,

thoroughness and neatness regardless of volume.

8.

Can understand directions, established methods and procedures reflected in

his/her work behavior and performance.

9.

Can be counted on to carry out assigned work and work with minimal or no
supervision and follow-up.

10. Can start effective action without the need of prompting or prodding from
his/her supervisor, showing full effort and/or devising ways and means to
work on situations.
11. Is flexible and receptive in dealing with new situations, ideas or methods.

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12. Has the ability to think and make decisions independently.

13. Has the ability to perceive problems, analyze situations and develop
solutions.
14. Can effectively apply the principles of good human relations in carrying out
work activities which require interpersonal contacts.
15. Has willingness to learn.
16. Can communicate and express his/her thoughts well.
17. Has interest and enthusiasm towards work.
18. Has the ability to effectively work under pressure.

You may use the extra spaces below to add particular criteria that your company would like to rate.
Comments:______________________________________________________________________
_______________________________________________________________________________
______________________________________________________________________________

___________________________
Signature of Supervisor

_____________
Date

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Annex 6: Sample Weekly Progress Report Compilation

Inclusive Dates

Activities

Nov. 21-Nov. 25

Preparation of
bank reconciliation

Documents

Objective/s

Bank Statement
Passbook
Ledger

To reconcile
bank
statement
with cash in
bank per
book

Supervisors
name, position
and signature
(Sgd.)
Maria Dela Cruz
Acctg. Supervisor

xxx

xxx

Annex 7: Written Practicum Paper

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All students undergoing practicum are required to submit a written report after the practicum term. The
contents of the report are as follows:
Title Page
Table of Contents
Chapter One

: Brief History/Background of the Company/Company Profile

(1 to 3 pages)

Chapter Two

: Weekly Progress Report Compilation

(including duties and responsibilities)

Chapter Three

: Assessment of Practicum Program

(Reaction paper of the student with the following suggested
format)
What have I learned from the experience? (technical)
My experience with the people around me
The most memorable event during my practicum
What I can recommend for the improvement of the Practicum program
My advice to those who will take their practicum in the near future

Chapter Four

: Pertinent Documents
Application Letter
Acceptance Letter
Parents/Guardians Certification of Waiver/Permission
Student Information Sheet
MOA (2 copies)
Completed Time Budget
Practicum Daily Attendance Record
Certification of Completion of Practicum Hours
Performance Evaluation Sheet (sealed in an envelope)
Others

Format

: 8.5 x 11 size bond paper, double space, Arial font, size 12

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Annex 8: Student Information Sheet

Student Trainee Information Sheet

UNIVERSITY OF SAN CARLOS
College of Commerce
Department of Accountancy
Name of Student Trainee: ____________________________________Course: __________________
Contact Number:_____________________________ Email Address: __________________________
Faculty Adviser: ____________________________________________________________________
Name of Company/Institution/Organization: ______________________________________________
Company Address: __________________________________________________________________
Name of Supervisor/ Office Head: ______________________________________________________
Contact Number:_____________________________ Email Address: __________________________
Work Schedule: ________________________ Estimated date to finish practicum:________________

(Please make a sketch of the location of your company)

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Annex 9: Daily Journal and Time Budget

UNIVERSITY OF SAN CARLOS

School of Business and Economics
Department of Accountancy
Student Trainees Daily Journal
Name of Student Trainee: ____________________________Course: ___________________
Faculty Adviser:

_________________________________________________________

Name of Company/Institution/Organization:

____________________________________

Name of Supervisor: _________________________Area Assigned: _______________________

Period Covered: _____________________________ No. of Hours: _____________________
Date

What I Did
(Activities)

What Did I Learn?

Deficiency/ Concerns

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Reflections for the Week:

Note(s):
1. Students are required to write their journal daily or they may use electronic means in encoding the daily tasks.
After one (1) week, this report will be sent by the students to the Adviser, as well as to the Coordinator.
2. The content of your journal should include: areas of personal growth; types of clients you find interesting to
work with and those you find difficult to work with; issues that you have with co-workers and supervisors;
feelings that you are experiencing such as inadequacy or areas in which you are improving. It is a personal
reflection of how you reacted to the days experience. Do not allow yourself to get behind with your journal
entries you will be missing the piece! It is difficult to remember days later what happened a week ago.
3. This form is used only for the weekly submission of the report to the Adviser. At the end of your practicum, you
are to use the format indicated in Annex 6 of your Practicum Manual for your Weekly Progress Report, which
is submitted together with your written report.

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Annex 10: Time Budget

Wee
k No.

Date Covered

No. of Hours
Actu Budg
al
et

Varian
ce

Remarks

1
2
3
4
5
6
7
8
9
10
Total

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