Philippine Christian University

Dasmarinas City, Cavite

A Narrative Report in Internship Training undertaken at

Caballero-Lacsa and Company CPAs (CLCC)
located at Amethyst Building Samaloc 3 Dasmarinas Cavite, Philippines

In partial fulfillment of the requirements for the degree of

Bachelor of Science in Accountancy

Submitted by: Vher Christopher L. Ducay

Submitted to: Prof. Leo S. Maningding CPA

December 2016
 ACKNOWLEGDEMENT
With deepest gratitude and appreciation, I humbly give thanks to the people who,
with all they can, helped me in making my On-the-Job Training a possible one.

To my loving parents and family, for their unending love and support, for
providing all my needs financially and morally, for their understanding during my
tiring days that I cant help the chores, for their never fading advices and for being
there for me no matter what.
To my brothers who serve as an inspiration to me, who keep on encouraging me
to always make the best out of everything and for their being proud and ever
supporting siblings to me.
To the institution where I am studying, Philippine Christian University, where I am
continuously growing as a Bachelor of Science in Accountancy student.
To all my professors who shared and continuously sharing their knowledge with
students like me and keep on molding me into a better person.
To the Caballero-Lacsa Company and CPAs employees, for their warm welcome to
me. To Mrs. Lorna Caballero Lacsa, Managing Partner, for the guidance and
supervision of our work. To Mr. Mark Perez, HR department, for the assurance of
the document needed for the internship. To Ms. Pauline Ellao and Ms. Apple
Marie Plaza, CLCC Employees, for sharing their knowledge to us to expose and
utilize our accounting skills. To my Co-trainees, the bonding and for the piece of
advice given and learning experience shared.
Above all, to our Almighty God, for His unconditional love and for all the blessing
He is showering upon me each day of life. With love and gratitude, I thank Him for
making this On-the-Job Training a possible one. By His grace, I was able to finish
this training without any conflict.
Most of all, I thank Him for His Word that keeps on reminding me that I can do
all things through Christ who strengthens me. (Philippians 4:13)
Vher Christopher L. Ducay
Bachelor of Science in Accountancy
 INTRODUCTION
It is the responsibility of the supervisors and managers to utilize available
resources to train, qualify, and develop their employees.

Internship is one of the best training methods because it is planned, organized,

and conducted at the employees worksite, it will generally be the primary
method use for broadening employee skills and increasing productivity. It is
particularly appropriate for developing proficiency skills unique to an employees
job, especially jobs that are relatively easy to develop, learn and require locally-
owned equipment and facilities. To have a successful practicum program,
supervisors need to assign a coach to each employee involved in Internship
practicum.

It is the responsibility of the coach to plan training carefully and conduct it

effectively. The Internship Trainee must be able to cope much with the tasks
given to him/her. The Internship coach must in turn observe the trainee as he/she
is working on that given task.
 COMPANY PROFILE

Caballero-Lacsa & Co., CPAs, formerly Portfolio Consultancy Co. (the Firm) was
registered with Securities and Exchange Commission (SEC) on May 15, 1998
with registration number A199805351 to engage in the practice in public
accountancy providing professional services such as audit and business advisory
services, tax, financial, economic and business consulting services.

As a Firm, it has been recognized by the Board of Accountancy (BOA) on October

25, 2004 and accredited by Securities and Exchange Commission (SEC) as an
auditing firm for public companies, Group C secondary licensees per SEC
Memorandum Circular No. 15 on August 11, 2005. The Firm also accredited by
Subic Bay Metropolitan Authority (SBMA) since 2003 providing a full range of
professional services and was accredited by BIR with Accreditation No. 04-
003461-1-2006 issued October 23, 2006.

The Firm is currently being managed by Lorna Caballero-Lacsa, who obtained

her Bachelor of Science in Commerce, Major in Accounting from University
 of La Consolacion in 1982 and subsequently passed the Certified Public
Accountant licensure examination on June 1984. On January 2012, she completed
her Masters Degree in Business Administration at Philippine Christian University.
On October 12, 2004, she was granted by the Bureau of Internal Revenue (BIR) an
accreditation as a tax practitioner to act for and in behalf of taxpayers in the
preparation and filing of tax returns, statements, reports, protest and other
papers with and/or to appear and transact official business before their office
pursuant to provisions of Section 6 (G) of the National Internal Revenue Code of
1997. She worked as Finance Manager with several SBMA locators such as
Asian Armoured Vehicle & Tech. Inc. and BICC Brand Rex Inc. before she
established her own accounting firm. She also recognized by Cooperative External
Auditors Recognition Board of Cooperative Development Authority (CDA) for
having satisfactorily complied with the necessary requirements as a Cooperative
External Auditor pursuant to CDA Memorandum Circular 2000-07 relative to
the Memorandum of Agreement by and between the Cooperative
Development Authority (CDA) and the Philippine Institute of Public
Accountants (PICPA) on March 04, 2 005. The SEC also granted Ms. Lacsa
an accreditation as a Group C external auditor per SEC Memorandum Circular
No.15 on August 11, 2005, making her eligible to provide attestation for
companies listed under Group C. This accreditation shall cover Financing
Companies, Transfer Agents and Companies with more than P15 Million total
assets (per BSP Circular No. 439) of the Bangko Sentral ng Pilipinas (BSP).
 FIRMS VISION
An auditing firm committed to deliver excellent professional service

FIRMS MISSON
To contribute to the improvement of its clientele by providing professional,
accurate and reliable services and timely information that best helps
maximize their profitability.

To fulfill this mission the Firm shall:

encourage innovativeness to help clients align its strategies and
processes
develop its human resources to ensure professional and personal
growth and approve the things that are excellent while maintaining
integrity
endeavor to remain competitive to ensure stability and continued
existence
remain committed to its obligation as a good corporate entity.
 Daily Accomplishment Report

Week 1
Caballero-Lacsa and Co CPAs this is the office where I was assigned to conduct
my Internship Training. On my first day of training, I was very excited and
somewhat nervous because of the new environment and the new people
surrounding me. I didnt have any idea of what kind of people they are and it
made me adjust myself with their personalities and attitudes. My Training
Supervisor accompanied me to my table where I will be staying during my On-the-
Job Training.
During that moment, I felt that I was really an office boy already having my own
office chair and table. The first task that my Training Supervisor asked me to do is
to update the books of some clients to familiarize myself in the manual
bookkeeping program, I wrote the entries and transaction manually in the
General Journal, Cash Receipts and Cash Disbursement books. Some may laugh at
my first task which is updating some manual books, but they do not know that
Ive learned many things which are related in my chosen course Bachelor of
Science in Accountancy. While writing, I was reading it at the same time. Thats
why I was able to learn new things as well as those terms that are already familiar
to me related to auditing.

There were two kinds of books which Im working with. Businesses that are
Percentage Tax Payer contain only four books, the General Journal, General
Ledger, Sales Journal and Disbursement Journal. While businesses that are
VATable contain six books the General Journal, General Ledger, Sales Journal,
Disbursement Journal, the Subsidiary Purchase Journal and the Subsidiary Sales
Journal.
My first week was really a good start and I was motivated to perform excellently
because of what I have already accomplished and because of my Supervisor who
was very accommodating and kind to me and to my co-trainee.
 Week 2

On the second week of my On-the-Job Training, I was only able to go to work for 4
hours only because there are some trainees applied too so they divide our time
into half, our duty is now on 1pm- 4pm.
On this week they taught me to encode some receipts and disbursement on the
computer using Microsoft excel. They gave us some tips and shortcuts to be able
to finish our work early using the software. They also explained us how the
receipts and disbursement affect the Financial Statement of a company.
Maam Lorna told us that every Saturday, we are required to attend EXCEL,
morning devotion at Church of God Dasmarias, to praise and thank God for a
wonderful week of existence. After excel we went to the office to continue our
work and I personally meet Maam Juvy, one of the Managing Partner of CLCC,
she interviewed us and taught as some techniques regarding tax compliance
 Week 3
On my third week of training, there are many things that I had accomplished
because there is a new client in CLCC named Sigekiya Ramen Incorporaed, a
franchised-restaurant from Japan, Maam Lorna want us, the trainees, to handle
it, starting on manual bookkeeping up to updating their monthly and Interim
Financial Statements.

Every time Maam Lorna calls me for help, I can feel my heart beating like a drum.
She is very strict but an encouraging one. She always tells me to study hard for my
family, especially for my parents who are supporting me in every way possible.
Back to my accomplishments, I was also asked to reclassify their receipts per year,
because they want to know their expense starting year that they opened their
business 2014 up to 2016

This 3rd week was a very heavy week but despite of it, I really learned a lot not
just academically but socially as well because I learned to adjust myself to the
people I am with and I learned to socialize with them in a good manner. Though
some of the people there are not so kind, I was still able to handle the situation
with them properly.
 Week 4
It is a rough week for me because I was not around for 3 days because I was sick,
Mr. Mark Perez, the HR told me that If Im going to be absent I need to informed
them the day before Im going to be absent because they treat us like Im one of
their employee from the start I began my Internship on CLCC all the rules even in
absents are now needed to be followed
 Week 5
The tasks were getting harder as the days went by. First, My Training Manager ask
me to arrange the books of the company according to their respective place, then
she told me after I arrange the book there are some receipts and disbursement
needed to be encoded and then she told me that after encoding, there are some
books needed to be updated as Maam Lorna ask to. As usual, with my heart
beating so fast because of nervousness, I assisted my Training Manager regarding
the documents that he was working on.

I started having normal conversations with the people there. I became more
comfortable with them compared to my first week of training. I also started to
socialize with other people, especially those who are on higher position. I learned
to handle some situations and adjust with the environment where I am
conducting my On-the-Job Training. I can say that it was not just my skills and
knowledge that were being developed during my training but also my personality
as a student today and as a future professional someday. This OJT really helped
me to be more determined and to be more competitive in everything that I do in
life.
 Week 6
Another week for another set of works to do. The first thing I did was Update
some cash receipts, disbursement, general journal subsidiary ledger and sales
journal. After the month of May the books are not updated anymore, so as a
trainee I need to be efficient I update some books without telling my training
manager and then when she caught me updating some books, at first I taught
shes going to be mad at me, instead, she praised me and told me to keep it up.

I dont want to just sit on my chair, in front of my table, and waiting for my boss
to ask me to do something, but I still learned to behave and to be alert whenever
they call me abruptly.
 Week 7
The tasks that I did this week were just the other week but there is a little
different on this week because one of our client, Metrogate Dasmarinas Estate
want to see their 2015 manual books, but when we checked it, it was updated as
of the year 2014 so my Training manager tasked me to update all of their books as
of December 2015, so from Tuesday up to Friday all I did was to update the book
of Metrogate, my arm and fingers were hurting because of writing too much.
 Week 8
The tasks that I did this week were just the continuation of the tasks that I did on
the previous week, which is to update the books of Metrogate to December 2015.
Before I went at the office I enrolled first at PCU for the 1st Semester for the Year
2016-2017, to be honest I want to absent on that day because all I know is that
Im going to update again the books of Metrogate which I did as of last week. So I
told that to my friend and suggested that I should e-mail or text our boss Maam
Lorna about my issue, so I texted her and she replied to me that we well have a
meeting on Wednesday and she told me that I need to come too.

I am so very nervous about what Ive done but they said it is for my own good.
 Week 9
This is the week that well have a meeting, Maam Lorna wants us to report to her
whats the update of the companies we handle and she asked our progress in our
internship training. I told her that I already know the manual bookkeeping cycle,
encoding of receipts and updating the monthly FS of a company, she was pleased
about what she had heard about us, but she told all of us that we dont stick on
that kind of work we know in the 2nd half of our internship, she want us to be
exposed on Tax compliance and Audit so she want us to come with Maam Juvy
together with Sir GV Charni and Jonimar to go to Blaggan Lending Services to
exposed our self on audit world

On that day we went to Blaggan Lending Services and exposed our self on whats
going to do when you are a auditor

And this week I was so happy because my Training Manager taught me how to
send some Tax compliance on BIR though online
 Week 10
I learned another things this week, First I used the software GL sure at Metrogate
Dasmarinas Estste, this is the software they used to encode all of their
transactions and send it to CLCC to update their FS, I was fascinated about it
because it is programmed only for accountancy, it is very helpful because it is so
easy to use, but of course at first it is little confusing but if you master it, it is so
easy for you to record all the transactions. Then I learned to use the VAT relief
software, it to separate all transaction that is VATABLE and VAT EXEMPT after you
encode all of their receipts

Im so happy when I learned something on my Internship training course, I

learned things that outside the school
 Week 11
On this week I requested that I will know go to office at 8 am-5pm (8 hours) to be
able to finished my Internship before the semester starts, I estimated it that I only
have 3 weeks left in my Internship

It was a busy week because there are so many deadlines ahead of us First is the
tax compliances then the some companies are giving us their receipts and finally
the books are now not updated

I learned to work under pressure on this Internship, I need to finished a work after
another, and even thou Im only a trainee, they divide the work equally to
finished all of our work on time
 Week 12
This week is only a continuation of last weeks work, I helped my co trainees to
lessen their works, I encoded a lot of receipts just to minimize the work line of our
company, not just encoding of receipts I encode also the Vat relief of all the
receipts, I also prepared some tax compliance and sent it to Maam Glenda for
review and comments before sending it to BIR

On the same week, we went to some companies for their monthly audit, I was
exposed to various errors like wrong encoding of journal entries, misleading of
amounts and unrecorded receipts

Lastly, we went to Accuthermtech located at FCIE on Trece Martirez to visit them

for their first audit visit, we are shocked that, their old accountant mislead some
of their account and stole from their money and worse they dont file a tax
compliance in BIR
 Week 13
This is my last week of Internship Training and I still need to finish and to perform
the tasks assigned to me. First, I encoded some VAT relief and cash receipts and
disbursement and then I helped them to assemble the 3 sets of computer and
connect it to make connections between all the computers. I was happy because
I will finally finish my training but somehow sad because I will be leaving the office
where I had lots of memories and I will be missing the people that became close
to me for a period of time. Despite the sorrow of leaving them, I am still happy
that once in my life, I have met people like them in my life who taught me things
related to my chosen course, and most importantly, they helped me to be the
best that I can be. They are the ones who helped me in molding myself to be the
individual I am right now. They challenged my skills, abilities and knowledge and
gave me a chance to prove myself to them. It is a very heartwarming thing to
know that there are people who believe in me. Im very grateful because I made
them proud of what I have accomplished during my training and they were very
thankful for everything that I have helped them with.
 CONCLUTION
Nothing beats experience as the perfect learning tool. This Internship Training
served as my stepping stone to pursue my dream to be a Certified Public
Accountant someday. This training gave me an inspiration to be more serious and
focused in studying. I was encouraged to do more efforts in my studies. Since I
was given some ideas about the work of an auditor in the company where I
conducted my training, I am inspired to be like them someday. Despite the short
period of my training, it was still a very meaningful one. The training enriched my
confidence created a foundation of being a good employee someday. It caused a
very huge effect to me as a Bachelor of Science in Accountancy Student. I was
really renewed. I learned to be diplomatic in both action and words. This training
made me realize that it is really good to know what youre doing, and to love it. As
a student, what I can do for now is to learn whatever I can in school, be inspired,
love the path I am taking, and do my best in everything I do, with a positive
outlook in mind. I realized that I should be more focused in school and do
everything heartily and with all that I can. It is also very warm to the heart to
know that you have accomplished something and even warmer when there are
people who are so proud of what you have done and I felt this feeling during my
On- the-Job Training. It inspired me to be more determined and competitive in
everything that I do in my daily life as a student today and as a professional
someday. My On-the-Job Training is very helpful and will be very helpful to me as
I continue to take my journey as a fourth year student in the field of Accountancy.
It really gave me a taste of the real world a glimpse of what lies ahead after I
graduate.
 Philippine Christian University
City of Dasmarias, Cavite

ON THE JOB TRAINING EVALUATION

Bachelor of Science in Accountancy

NAME OF STUDENT: Ducay, Vher Chirstopher L.

Cooperating Company: Caballero-Lacsa and Co., CPA
Address: Unit 1, Amethyst Bldg., Metro Gate Estate Emilio Aguinaldo Highway, Sampaloc
1, Dasmarias, 4114 Cavite
Telephone No.: (046) 431 4971

Please rate the performance of the student (s) based on the following CRITERIA:

Attendance / Punctuality 10% ____7____ %

Ability to learn 10% ____10___ %

Ability to cope up with the work standards 15% ____12___ %

Accounting Proficiency (Application of GAAP) 15% ____15___ %

Quality of work accomplished 20% ____18___ %

Attitudes towards the supervisors/peers 15% ____15___ %

Personality (grooming/hygiene/cleanliness) 10% ____10___ %

Social Skills 5% ____3____ %

GENERAL AVERAGE 100% ____90___ %

COMMENTS/SUGGESTION

Vher is hardworking, easy-learner, approachable, diligent and gumptious. But, he must

observe time and manage to excuse himself a week before his leave. To sum it all, we would
like to congratulate Vher in completing his 300-hour training. We are proud to have him as
our trainee and we are also hoping to work with him soon.

RATER
INTERPRETATIONS:
_____________________________
(Signature over Printed Name)
OUTSTANDING 95 100 %
VERY SATISFACTORY 90 94 %
SATISFACTORY 85 89 %
FAIR 80 84 %
NEEDS IMPROVEMENT 75 79 %
 Philippine Christian University
Dasmarias Campus

COLLEGE OF BUSINESS AND TECHNOLOGY

FAITH CHARACTER SERVICE

August 24, 2016

MR. MARK ANTHONY PEREZ

Human Resource Associate
Caballero-Lacsa & Co., CPAs
Sampaloc 1, City of Dasmarias, Cavite

Dear Madam:

Mr. Vher Christopher L. Ducay is a 4th year Bachelor of Science in Accountancy student of
our school, Philippine Christian University, Dasmarias City. He is enrolled in Accounting
Internship, a 3-unit course, this First Semester of the Academic Year 2016-2017. The subject
requires the completion of 300-hour internship training to enhance the competency of our
accounting students.

Mr. Ducay has informed us he has filed an application to undertake her accounting internship in
your company. In this connection, we would like to endorse Mr Ducays request to have his
training in your office. Mr Ducay has been one of our conscientious accounting students. May
we request your confirmation of this undertaking by signing on the space provided below.

Thank you very much for your kind attention.

Very truly yours,

Noted by: Confirmed by:

DR. JENNIFER B. RAQUION MR. MARK ANTHONY PEREZ

Acting Dean, College of Business and Technology Human Resource Associate
Caballero-Lacsa & Co., CPAs
City of Dasmarias, Cavite
 MEMORANDUM OF AGREEMENT
INTERNSHIP PROGRAM FOR ACCOUNTANCY STUDENTS

KNOW ALL MEN BY THESE PRESENTS:

This agreement is made and entered into by and between Philippine Christian University,
Dasmarias Campus and the Cooperating Institution/Company.

PHILIPPINE CHRISTIAN UNIVERSITY (PCU) through the College of Business

and Technology, with principal address at Dasmarias, Cavite, represented by its Acting Dean,
Dr. Jennifer B Raquion
- and
CABALLERO-LACSA & Co.,CPA with principal address at Dasmarias City, Cavite
represented by its Human Resource Assistant, MR MARK ANTHONY PEREZ, referred to as
COOPERATION PARTY hereby agrees:

1. That the inclusive internship period shall be for 300 hours.

2. That the cooperating institution/company shall not be held liable to the student-intern
for any fortuitous event that may happen in the course of the internship training.
3. That the cooperating institution/company shall closely supervise the intern in the
undertaking of their approved plan of work or activities.
4. That the faculty handing the subject Accounting Internship shall visit the intern at
least once during the period of internship.
5. The student-intern shall observe the policies, rules and regulations of the cooperating
institution/company and school standards.
6. That the cooperating institution/company shall evaluate the performance of the intern
and shall issue a certificate of completion for 150-hour accounting internship.

This agreement shall take effect upon approval of the both parties, shall continue to be in
effect until amended/repealed by mutual written consent of the parties.

IN WITNESS WHEREOF, the parties have hereunto signed this agreement this
________ day of _______________ 20___.

PHILIPPINE CHRISTIAN UNIVERSITY CABALLERO-LACSA& Co., CPAs

(PCU) (Cooperating Party)

BY: BY:

DR. JENNIFER B. RAQUION MR. MARK ANTHONY PEREZ

Acting Dean, College of Business and Technology Human Resource Associate
SIGNED IN THE PRESENCE OF:

MR. LEO S. MANINGDING MR. VHER CHRISTOPHER DUCAY

Faculty Adviser BSA Student-Intern
VHER CHRISTOPHER L. DUCAY

Blk16, Lot 22 Phase I

Yakal St. Villa Luisa Subd
Dasmarias Cavite
Contact Number: 09069552106
Email: vhertot24@gmail.com

OBJECTIVES:
Seeking a summer internship with well-respected accountants whom can utilizes and
develop my accounting knowledge and the discipline and focus that I bring to my work
JOB DESCRIPTION:

Help with month-end financial reports

Work under supervision of other accountant
Assist with the preparation of balance sheet and other internal reports
File and scan journal entries

PERSONAL INFORMATION:
Date of Birth: January 24, 1996
Age: 20 years old
Gender: Male
Nickname: Vher
Mother: Imelda Ducay

Father: Vergel Ducay

Religion: Roman Catholic
Place of Birth: San Juan Metro Manila
Status: Single
EDUCATIONAL ATTAINMENT

TERTIARY EDUCATION
School: Philippine Christian University (PCU)
Course: Bachelor of Science in Accountancy (BSA)
Address: Sampaloc III Emilio Aguinaldo Highway, Dasmarinas City
Year: 2011-Present

SECONDARY EDUCATION
School: Mabini Colleges
Address: Gov. Panotes Ave. Daet Camarines Norte
Year Graduated: 2010-2011

ELEMENTARY SCHOOL
School: Gems International School
Address: Jeddah Saudi Arabia
Year Graduated: 2009-2010

TRAININGS AND SEMINARS

Road Imaging Success and Excellency Seminar
Philippine Christian University (2015)

Leadership Training Seminar

Green Papaya Hotel, Silang, Cavite (2012 and 2015)
 Accounting Seminar
Philippine Christian University-AVR (2013)
First Aid Seminar
Philippine Christian University (2014)

ORGANIZATIONAL AFFILIATIONS
Junior Philippine Institute of Accountants
1. Ambassador of Goodwill: 2011-2013
2. VP Membership: 2013-2014
3. VP Non-Academic: 2014- Present

Dulaang PCU
1. Member: 2013-2014
2. Assistant Dance Coordinator: 2014-2015
3. VP Internal: 2015-Present

CHARACTER REFERENCES

Leo S. Maningding
Philippine Christian University
Faculty, College of Business and Technology
09166476131

Imelda L. Ducay
Diamond Village, Salawag Dasmarinas Cavite
09281719925
doc.mhel07@gmail.com

Charni F. Sepanton
Mabuhay Homes 2000 Paliparan II Dasmarias, Cavite
Paliparan II Dasmarias Cavite
09161942633
chinchen1324@yahoo.com.ph

Vher Christopher L. Ducay

Applicant