INDUSTRIAL TRAINING REPORT

ACKNOWLEDGEMENT
In this past three months, I had undergone my industrial training in S.P. Kong & Chang
located in Kuantan, Pahang Darul Makmur. The purpose of conducting this study is to fulfill the
requirement for the Diploma and Accounting, Kolej Poly-Tech Mara (KPTM).
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.
Secondly, I would like to thank my employer, S. P. Kong & Chang, and also my
colleagues especially the seniors, Mr. Chou Chee Keong and Mr. Cheong Boon Meng. Without
their helped, I would not have gone through my practical training smoothly. While under their
supervision, I have learned a lot of things and also knowledge.
Thirdly, I would like to thank Miss Azrinarizan Idarnis Bt. Abd. Aziz, who is my
supervisor (KPTM) for this past three months while I undergo my practical training. Without her
advice, I would not have finished this study. She gave me a lot of inspiration on how to conduct
this study.
Lastly, I want to thank all my friends. Although they did not helped me in preparing my
report and study, but without their mentally support, I would not have pass my practical training
and did this study smoothly.

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ABSTRACT
Practical training is compulsory for all students in Kolej Poly-Tech Mara 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 Malaysian Institute of Accountants (MIA)
before they were qualified as members of MIA and received a Diploma in accountancy.
Purposely, the objective of this practical training is to give an opportunity for students to
gain more working experience and career training before they finished their studies related to
their field of study. In addition, practical training allows student to apply theories (common
studies) to practical. Instead on having a practical, firms will treat trainee as their workmanship
to help them to run a business. Consequently, practical training students will not only gain
relevant skills and experience but also they will contribute to the growth of their firm or
organization where this will help students to enter the real world jobs.
Other than that, the objective of this practical training is to expose students to the actual
working environment. Besides, to cultivate teamwork, spirit and familiarize with colleagues. By
undergo the practical training, student will create a trust worthy and responsible person. Besides
that objective of practical training is to build self-confidence among students and lets students
know the technical knowledge and professionalism. Preciously, I have learned lots of knowledge
in auditing, taxation and accounting. This training gives me good experience from the view of
implementing my knowledge in accounting aspect. Finally, students are required to prepare
practical report which should be submitted within two weeks after practical training. Practical
reports will provide 80 % marks of the total of practical training while firms and organizations
would be estimated to 20 % of the total.

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1.0 INTRODUCTION OF THE COMPANY

1.1 COMPANY BACKGROUND
S. P. Kong & Chang established its business in 1994 by two managing partners who are
Mr. Kong Seng Poh and Mr. Chang Hong Seong. The firm is situated at B-170, 1 st Floor, Jalan
Dato Lim Hoe Lek, 25200 Kuantan, Pahang Darul Makmur. The firm now has 2 managing
partners, 14 permanent staffs and 6 trainees. The clients of S.P. Kong & Chang vary from
manufacturing, trading, housing developers, construction companies to plantations.
The company is professional services firm providing several services such as auditing
service, financial accounting service and taxation service. For auditing, they audit clients
company's records by providing the highest level of assurance. The firm provides a range of
accounting services include general ledger and financial statement preparation and taxation
services including tax planning and return preparation.
Other than S. P. Kong & Chang, the partners also have set-up three other companies that
are KNC Management Services Sdn. Bhd. with 2 directors and 7 staffs which are providing
secretarial services including formation or incorporation of companies with limited liability,
offshore company, sole proprietorship and partnership, advisory on corporate law provisions,
arranging the annual general meeting and co-coordinating the production of the annual report,
organizing, preparing agendas and taking minutes of meetings, maintenance of the Statutory
Books of the Company as required by the Companies Act 1965, liquidation, winding up and
receivership.

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KNC Tax Services Sdn Bhd with 2 directors, 3 permanent staffs which providing taxation
services including tax planning and tax return preparation, preparation of companys return of
original estimated tax payable in compliance with the Income Tax Act, 1967 or based on the
amount of estimated tax payable provided by the company, tax minimization by several
strategies via splitting income, shifting income, shifting deductions and others, advising clients
plan for lowest possible tax bill, advise the client regarding dates for all revisions to the amount
of estimated tax payable, advise the client regarding payment of the balance of tax based on the
companys annual tax return, requesting for refunds of any tax overpaid, filing the employers
return Form E and provide services on non-income tax matters such as real property gains tax.
Pose Consultancy Sdn. Bhd. with 2 directors which are provides financial advisory and
business advisory to clients.

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1.2 MISSION AND VISION

S.P. Kong & Changs to its service assignment is based on the Team Concept. In the
course of carrying out its responsibility, the scope of the service and review work is allocated to
the appropriate staff levels, wherever possible, at a lower charge out rate. Such allocation of
work and duties ensures that the fees are kept to the minimum and correct level.
Furthermore, this arrangement allows our clients to gain access to a wider range of
expertise with the work being completed by the appropriate qualified staff members which also
ensures timely and efficient completion of service assignment.
S.P. Kong & Chang maintains a strong partner involvement and any work performed is
invoiced in accordance with the time taken to complete the task assigned. Naturally,
confidentiality is held to be of utmost importance and as a client of S.P. Kong & Chang,
confidentiality is assured at all times.
Mission statement:
To be recognized as a strategic financial business partner in fulfilling and to value-add the needs
of our clients by way of a Multiple Disciplinary Partnership.
Vision statement:
To continuously scale new heights and to embrace the vision of The Business Mind with the
focus to meet global challenges of tomorrow.

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1.3 COMPANY ORGANIZATION CHART

S.P. KONG & CHANG

S.P. KONG & CHANG

Mr. Kong Seng Poh

Managing Partner
Mr. Cheong Kim Choy
Audit Senior

Mr. Chang Hong Seong

Managing Partner

Mr. Chou Chee Keong

Audit Senior

Mr. Goh Jeck Seng

Audit Semi-Senior

Mr. Cheong Boon Meng

Audit Senior

Mrs. Loo Ying Hui

Audit Semi-Senior

Audit Assisstant
Cheng Sheau Ying
Chee Wen Ying
Hong Suh Yin
Norhaslinda Binti Ibrahim
Loong Muh Rouh
Ahmad Azlan Bin Abu Bakar
Chak Pei Pei
Chan Ying Ming
Chong Poh Sin
Audit Trainee
Samihah Aisa Bin Sharafuddin
Noor Fatihah Binti Azhar
Kong Jia Yong
Carmen Chang KahMan
Najatul Haya Binti Rohaizat
Fazrin Binti Muhmed Abdullah

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KNC MANAGEMENT SERVICES SDN. BHD.

KNC MANAGEMENT SERVICES SDN. BHD.

Mr. Kong Seng Poh

Director

Mr. Chang Hong Seong

Director

Ting Mooi Nark

Company Secretary

Norlelawati Bte Mohd Shah

Office Administrator

Jakamisah Bte Mohamed

Siti Nor Laila Bte Mohamed
Razimah Bte Rahmat
Rughayah Bte Mat Jusoh
Muhammad Syahadzrie Bin Mustafar

Administrator
Clerk cum Typist
Data Processing Clerk
Data Processing Clerk
Despatch Officer

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KNC TAX SERVICES SDN. BHD.

KNC TAX SERVICES SDN. BHD.

Mr. Kong Seng Poh

Director

Mr. Chang Hong Seong

Director
Mrs. Chan Poh Yoke
Tax Senior

Tax Assisstant
Goh Hwee Keang
Lim Kah Hau

Tax Trainee
Tai Kwang Ti

POSE CONSULTANCY SDN. BHD.

POSE CONSULTANCY SDN. BHD

Mr. Kong Seng Poh

Director

Mr. Chang Hong Seong

Director

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1.4 SERVICES PROVIDED BY THE COMPANY

The primary role of S.P. Kong & Chang is to perform assurance and compliance service
in accordance with the guidelines set out by the legislation of the country. S.P. Kong & Chang
also has technical expertise and experience to conduct financial due diligence reviews and
internal audit where appropriate. S.P. Kong & Chang tailors its professional business approach to
the specific needs and requirement of its clients to ensure that the work is conducted in the most
efficient and cost-effective manner.
In this respect, an integrated approach to our professional business services is adopted to
fulfill the requirements and objectives of the three main areas: Auditing Service

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