THE INSTITUTE OF FINANCE MANAGEMENT

FACULTY OF ACCOUNTING, BANKING & FINANCE

DEPARTMENT OF ACCOUNTING & FINANCE
BACHELOR OF ACCOUNTING

FIELD REPORT
A FIELD WORK REPORT AT SUB-TREASURY OFFICE IN KIGOMA MUNICIPAL
COUNCIL

NAME: KALEKEZI, BENJAMIN B

REG. NUMBER: IMC/BAC/14/76808
DATE OF SUBMISSION: 27/01/2017
i
 CERTIFICATION

The undersigned certify that I have read and hereby submit for examination by the
university of Institute of Finance Management a practical training report in partial
fulfillment of the requirements for the Bachelor of Accountancy course of the Institute of
Finance Management.

Mr KALEKEZI, BENJAMIN B.

Date…………………………………

ii
 DECLARATION

I, KALEKEZI, BENJAMIN B, declare that this PT report is my own original work and
that it has not been presented and will not be presented to any other university for a
similar or any other degree award.

Signature ……………………….

iii
 ACKNOWLEDGEMENTS

Before everything and above anything, I would like to acknowledge God’s grace upon me in
terms of health, mental stability and moreover, the opportunity to begin and finalize this field
project. Secondly, I wish to thank the Tanzanian taxpayers and the government of the united
republic through the Ministry of Finance for taking care of my studies and practical training
expenses.

Among those who merit special thanks, the following cannot be left out; Mrs Manyama
Theresia B for for her readiness to help whenever I needed her experience and skills, Mfinanga
Kundaeli W for his unconditional support throughout the PT and my fellow student, Emmanuel
Patrick for work reminders and knowledge and skills debates.

This acknowledgement cannot be closed without recognizing the contribution of my late

mother’s memory on how she nurtured me into a fighter who does not know defeat which has
helped me to overcome all trouble that came my way during my practical training. In a very
special way, I would like to recognize my wife, Hoithasia E Kawiche and my son Blaise
Kalekezi for always reminding me that I am a responsible man. My young brother Adil
Kalekezi was very instrumental during the typing, proof reading and editing of this work.

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 LIST OF ABBREVIATIONS

IFM…………………….Institute of Finance Management

PT……………………… Practical Training

IFMS……………………Integrated Financial Management System

TISS……………………..Tanzania Interbank Settlement System

VPN……………………...Virtual Private Network

BOT………………………Bank Of Tanzania

RCCB…………………….Receipt Collection Cash Book

B. O. T…………………….Bank of Tanzania

BACC……………………..Bachelor of Accountancy

MOF……………………….Ministry of Finance

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 EXECUTIVE SUMMARY
The central aim of attending the practical training at Kigoma sub-treasury office was to learn
and put the knowledge and skills I have learned in class theoretically into practice. I chose to
do the training at Kigoma sub-treasury because it is my working station at the moment and the
undergraduate degree training I am attending so far aims at boosting my capacity to carry out
my duties for the welfare of the Treasury office and the nation at large.

The Kigoma sub-treasury office performs two financial activities which are reserving and
paying money. The first activity the organization does is receiving money from the government
since the sub-treasury is the only place where the government reserves its money collected
from different sources, The second activity performed by sub-treasury is making payments to
all central Government sectors in Kigoma region according to the Government budget. The
mentioned financial activities are in fact the ones the student (me) got an opportunity to learn
how they are effectively carried while working in the Accounting unit of the sub-treasury office
which is divided into two departments which are The Bank Reconciliation department and the
Data Entry department. The main duties of the departments are reconciling the books of
Accounts of the Ministry of Finance at the sub-treasury office and Registration of vendors in
the Integrated Financial Management System (IFMS) respectively.

The field work at the Kigoma sub-treasury office was done accordingly and a lot of lessons
were effectively learnt. I got an opportunity to practice what I have learnt in theories and also
got the chance to compare and contrast what is learned in class with what is currently applied
in accounting market. I finished my practical training happily and proudly because I realized
that IFM has been offering me what really the market is hungry for. However, I also learned
that practical training is very important because there are many things done during practice
which are not effectively learnt in class.

vi
 TABLE OF CONTENTS
CERTIFICATION ............................................................................................................. ii
DECLARATION ..............................................................................................................iii
AND ................................................................................. Error! Bookmark not defined.
COPYRIGHT ................................................................... Error! Bookmark not defined.
ACKNOWLEDGEMENTS .............................................................................................. iv
LIST OF ABBREVIATIONS ............................................................................................ v
EXECUTIVE SUMMARY .............................................................................................. vi
LIST OT FIGURES AND TABLES ..............................................................................viii
CHAPTER ONE ................................................................................................................ 1
1.0 Introduction: ............................................................................................................. 1
1.1 Background of KigomaSUB-TREASURY office; .................................................. 1
1.1.1. Major products/ services .................................................................................. 2
1.1.2 The Organization Structure ................................................................................... 2
1.1.3 Number of employees. ........................................................................................ 4
1.1.4 Activities performed. ........................................................................................... 4
1.1.5 Level of technology. ........................................................................................... 4
1.1.6 Customers ........................................................................................................... 5
CHAPTER TWO: ............................................................ Error! Bookmark not defined.
2.0 Work done and lessons learnt .................................................................................. 6
2.1 Placement in organization. ....................................................................................... 6
2.2. Working environment: ............................................................................................ 6
2.3.1. Cash office department ..................................................................................... 6
2.3.2 Examination and registry department. ............................................................... 7
2.3.3 Data entry department. ...................................................................................... 8
2.3.4. Bank reconciliation department. ....................................................................... 9
2.3.5. Pension/mirathi department. ............................................................................. 9
CHAPTER THREE ..................................................................................................... 12
3.O ANALYSIS .............................................................................................................. 14
6.0 REFERENCES .......................................................................................................... 17

vii
 LIST OT FIGURES AND TABLES

Figure 1.0: Showing the organization structure of Sub-treasury Kigoma…Page number 3

viii
 CHAPTER ONE

1.0 Introduction:
TREASURY is a government organization which is operated under the Ministry of Finance, the
head of TREASURY is the Minister of Finance. The treasury's offices located in the
headquarters of different regions are known as Sub-treasury offices. Sub-treasury is where the
government reserves its money from different sources and uses it purposeful, appropriately and
conforming to the authority that govern it.

1.1 Background of Kigoma sub-treasury office;

In 1998 the government of Tanzania decided to establish a sub treasury office in Kigoma as the
branch of the treasury head quarters located in Dar-es-salaam which is headed by Minister of
Finance. The treasury was established in 1973 by the government Act no 9 1973, that granted it
the power to reserve and distribute government’s money. During the time of its establishment,
the treasury office was capable of handling all transactions all over the country considering that
the financial circulation was low and only a few transactions were being made. However, the
situation did not last very long, twenty years later; in 1993 the government’s transactions had
increased to the level that made the treasury office in Dar-es-salaam inefficient of handling them.
As a result, the government decided to establish three branches of the treasury in three regions as
a trial, those regions were Rukwa, Arusha and Mwanza. These offices performed very well and
convinced the government that establishment of sub-treasury offices was the perfect solution to
the piling up of transactions in the treasury main office and hence more offices at regional level
were established to improve the efficiency. In 1997 new sub-treasury offices were established
including the Kigoma sub-treasury office which came into existence on 15th May 1997 was given
Sub Vote number 23 as the (Id) identity. Since then until to-date the sub-treasury in Kigoma is
the main financial provider to Kigoma region for all sectors which are under the central
Government.

1
 1.1. 1.0 Location
One can arrive from Dar es salaam where the treasury's headquarters is located to Kigoma where
the Sub-treasury office is located by In Air, Road or Railway transport. Geographically, sub-
treasury Kogoma is located between 8o18’N to 8o33’S and 35o6’E to 35o20’E , it is found 2.5Km
from Kigoma Airport, 1Km from Kigoma railway station and also 90Km from Kasulu district.

1.1.1. Major products/ services

The major service provided by SUB-TREASURY KIGOMA is financial service to all central
government sectors in Kigoma. The organization receives money from their authorities
according to the budget passed by the National Assembly of Tanzania and distribute to its
customers (central Government sectors in Kigoma). Therefore, the major service of sub-treasury
Kigoma is to provide financial service by receiving and distributing money to its customers
according to the authority that govern it.

1.1.2 The Organization Structure

The organization structure of sub-treasury Kigoma is made under the ministry of finance where
by the structure is designed as; The head of sub-treasury known as Host, appointed by the
Accountant General, Deputy Host who is working as the Human Resource Manager, Head of
accounting unit, Head of internal auditing, Head of cash office, Reception office, Secretary
office. Most of the employees are accountants by profession except the Secretary Office and
Reception office. The structure is summarized in a figure below:

2
 FIGURE 1.0: THE ORGANIZATION STRUCTURE OF SUB-TREASURY KIGOMA.

F HEAD OF SUB TREASURY

i KIGOMA
g
u DIPUTY HOST
r
e
ACCOUNTING UNIT AUDITING CASH OFFICE
OFFICE
N
o
Bank reconciliation Data entry
.
department; 1 department;

Reconciling the Registration of

Accounting bookss of the vendors in the Secretary Reception office
h
MoF at the sub-treasury IFMS. office
office o
w
i
n
g

t
h
From the above organization
e structure bellow is the clarification of all departments and their
function.
o
a. Host
r
b. Deputyghost
c. a
Accounting unit
n
d. Internal auditing department
i
e. Cash office
z
f. Reconciliation
a department
g. t department
Data entry
i
h. Secretary office
o
i. Reception
n office
a
l
3

s
t
The host is the head of the Kigoma sub-treasury office who is responsible for managing all
operations of the office in Kigoma region, Deputy Host is the second from top responsible as the
human resource manager of the sub-treasury. The accounting section is divided into two
departments which are Reconciliation and Data entry, Data entry department is responsible for
entering primary data in the Integrated Financial Management system, while the reconciliation
department is responsible for making sure that all transactions within the organization match
with the transactions from the bank account for Mirathi deposit and PACS in Bank of Tanzania
for development, recurrent and deposit accounts. Also there is a secretary office; the office is
responsible for all secretarial services while the reception office is responsible for all reception
duties within the organization.

1.1.3 Number of employees.

SUB-TREASURY KIGOMA has sixteen employees who are professionals from different
disciplines: eleven accountants, secretary, driver, office attendant and two office watchmen.

1.1.4 Activities performed.

SUB-TREASURY performs only a single activity that is financial activity. The financial activity
is divided into two activities which are reserving and paying money. The first activity is
reserving money from the government since SUB-TREASURY is the only place where the
government reserves its money collected form deferent sources, The second activity performed
by SUB-TREASURY is making payments to all central Government sectors in Kigoma region
according to the Government budget regardless of from which sector the money was collected
and reserved by the SUB-TREASURY before coming into expenditure.

1.1.5 Level of technology.

The organization uses automated technology because all offices in the organization are having
enough computers for each employee and also each computer is connected to Integrated
Financial Management System having the accounting version EPICOR9, the software that helps
employees to perform accounting activities. Moreover, the organization is connected with
internet meaning that everything performed at the sub-treasury is connected to the head office in
Dar-es-salaam for observation and supervision.

4
1.1.6 Customers
Major customers of sub-treasury are sub-warrant holders who are authorised to spend during the
financial year the amount specified as they become due in accordance with the financial Orders
of the Republic from their authority that governs it. The fund issued under this warrant cannot
be used for any purposes other than those authorized. The warrant holders found in Kigoma
region are Regional Police Force vote 28, Regional Prison Force vote 29, Regional Medical
Officer Vote 52, Kasulu Teachers Training College vote 46, Kabanga Teachers Training College
vote 46, Kibondo Nursing College vote 52 and Resident Magistrate Kigoma vote 40.

5
 CHAPTER TWO

2.0 Work done and lessons learnt

2.1 Placement in organization.

During practical training at sub-treasury Kigoma the following departments were visited and
working was done accordingly and lessons learnt effectively and efficiently: Cash office,
Examination and Registry, data entry, Bank reconciliation and pension and Mirathi department.

2.2. Working environment:

The working environment of sub-treasury Kigoma was so friendly and this was among
impressive things which made the learning process easy. Whenever problems happened in the
office, they were discussed and solved accordingly and this evidenced how the work was done in
team work. No one was working independently and this shows how the nature of work in the
sub-treasury is in team work and hence the works are done effectively.

2.3. Descriptions of the Tasks undertaken.

At the Sub-treasury everyday duties and tasks performed in different departments which depend
on each other in accomplishing work in the office.

2.3.1. Cash office department

In the first week of practical training the wok was in the cash office department where by the
following works were done: receiving of warrant of funds and funds letter, the funds direct from
Paymaster General and the funds that are not direct from the Paymaster General like deposit
from Hospital, fines from courts and fees from colleges which are working under central
government in Kigoma such as Kibondo Nursing and Clinical Assistant College. Another work
done in the Cash Office department in the first week were issuing the exchequer receipt to sub
warrant holders who presented the warrant of funds from the authority that governs it and to sub
warrant holders who presented letters used to deposit funds in the bank. The exchequer receipts
issued to sub warrant holders are issued only after making sure that the amount on warrant of
funds from their authorities that governs them and to the letters of fund used to deposit money in

6
bank are tally with the amount that appears to the bank statement for mirathi deposit account and
for recurrent account, development account and deposit account that appears to PACS report
from bank of Tanzania.

Lessons learnt in the cash office in the first week of practical training, was how the funds are
issued from the Paymaster General to sub warrant holders and other funds that are not direct
from the Paymaster General such as deposit by credit slip with sub warrant holders collection
using receipt collection cash book (RCCB), the government accounts prevailed in sub-treasury
which are recurrent account, development account, deposit account and mirathi deposit account
and also how to reconcile between document used by customers to deposit money to the bank
and funds direct from Paymaster General with bank statement for mirathi deposit account and
PACS bank of Tanzania report for recurrent, deposit and development accounts.

2.3.2 Examination and registry department.

In the second week of practical training the work was in the examination and registry department
where by the following works were done: receiving of the payment voucher, request of the
purchasing order from sub warrant holders and examining them if it has been prepared according
to the Finance and procurement Act.
After sub-warrant holders receive the copy of the issued exchequer receipt to sub warrant
holders, the same amount on the copy of issued receipts to the sub warrant holders are recorded
to the registry book for keeping record of balance for the sub warrant holders before they bring
the payment voucher and request for payment. There after the sub warrant holders after getting
the exchequer receipt they prepare the payment voucher and request of purchasing order and
bring them to examination and registry to be examined if they prepared according to the Finance
Act and procurement Act and checking the balance in the registry book if there are enough funds
to pay the amount on payment voucher and request purchasing order. If they are enough the
payment vouchers are given voucher numbers ready to be paid in the data entry and on part of
request of purchasing order are taken to the data entry to be given authorized local purchasing
order from the Integrate Financial Management System in EPICOR 9 ready for sub warrant
holders to take and write the payment voucher to be paid by following the same procedure of the
payment voucher.

7
Lessons learnt in the examination and registry department during the second week was how the
payment voucher are supposed to be prepared according to Finance Act and the procedures to
follow when preparing the request of purchasing order according to procurement Act.

2.3.3 Data entry department.

In the third week of practical training the work done was in the data entry department where by
the following works were done in the data entry department: registration of vendors in the
Integrated Financial Management System, vendors is the persons who are the ministry of
Finance payees. Any person whether the individual or a supplier must be registered in the
Integrated Financial Management System so that to get the own identity number in the system
which will be used to pay a person in IFMS version EPICOR 9.
Entering exchequer receipts of mirathi account and deposit account in the Integrated Financial
Management System and receiving exchequer receipts of recurrent account and development
account in the Integrated Financial Management System ready for the payment to the customers.
After the payment voucher examined and given voucher number from the examination and
registry department, the payment voucher are taken to data entry department to be paid in the
system in according to their identity entered before in the IFMS version EPICOR 9 and after that
the paid voucher by data entrants they taken to head of sub treasury to be approved if the money
is paid to the respective person and that process of approving the paid voucher by head of sub
treasury are done in the EPICOR 9.After the paid voucher approved by head of sub treasury and
approved okay, the head of sub treasury produce the list voucher and bring it to the cash office
where the list voucher are used to create one file ready for the money to be transfer to the
respected account of venders by Tanzania Interbank Settlement System (TISS) through Virtual
Private Network (VPN) and the right of using the VPN is owned by head of sub treasury and
deputy head of sub treasury.
After the money to be transferred from bank of Tanzania (BOT) to respective accounts through
Virtual Private Network (VPN) by head of sub treasury or deputy head of sub treasury in absence
of head of sub treasury the file used to transfer the money to customers in EPICOR 9 is posted to
IFMIS report viewer where all TISS report and EPICOR 9 report are produced, and then
Electronic Payment Remittance Advice are printed and attach to the paid voucher in order to
notify the payee about the money transferred by TISS to their account though VPN.

8
NOTE: The paid voucher are given to the payees after stamped on PAID to each copy of voucher
and detached one copy for retain in cash office and file it for reference purposes.
Lessons learnt in the data entry department during the third week of practical training is that
every person whether employees, supplier and others should registered in IFMS so that to get the
specific identification number which is different to others in IFMS. And every receipt received
and recorded its amount in the registry book the same amount are received in IFMS and
approved by head of sub treasury ready for payment in IFMS.

2.3.4. Bank reconciliation department.

In the fourth week the work done was in the department of the bank reconciliation where by the
following works were done in the bank reconciliation department: Reconciling the books of
accounts of the ministry of Finance in the sub treasury Kigoma, is done by electronic matching
where by bank statement are imported in the Integrated Financial Management System and find
out for the un-reconciled figures which found in Cash book and not in bank statement and also
the figures found in bank statement and not in the Cash book, after checking the figures missed
in either Cash book not in bank statement or bank statement not in Cash book then they do
matched electronically in the system of IFMS and normally the sub treasury performs
reconciliation of its accounts in Monthly basis and there is no way to make reconciliation with no
electronic cash book and bank statement.
Lessons learnt in the bank reconciliation department, after doing reconciliation of each account
at the end of the Month the report of each account reconciled is given out basing on the
discrepancies found and give out the solutions for the next reconciliation report.

2.3.5. Pension/mirathi department.

In the fifth week of the practical training the work done was in the pension/mirathi department
and the following are the works done in the pension/mirathi department: collecting of the
documents of the pensioners within three Months before he or she retiring and such document
for the employee supposed to collect before the time of retiring are as follows: letter of first
appointment, birth certificate, letter of contract permanent and pensionable, letter of job contract,
letter of last promotion before the time of retiring, letter of retire permission, two passport size
stamped with employer and retiring award which shows the salary of the last three years before

9
of the employee to retire. After the employee collecting all the named documents to sub treasury
he or she will be okay to retire at the right time and be pensioned accordingly.

Mirathi payment for the death of employee

The relative of the death employee are supposed to give the report immediately to the employer
of the death employee and then to proceeds with the procedure of mirathi as soon as possible so
that to avoid to be late paid the mirathi to the respective persons, and those procedures starts with
court procedures by making sure the relative of the death employee they report to the court, and
after the court procedures all document from the court are taken to the employer, after the
employer gets that documents from the court given by the relative of the death of employee it
brings to sub treasury together with all documents of the employee from the office which shows
all the rights of the death employee to be paid to his or her relative concerned together with the
document for mirathi as follows: original death certificate, original certificate of the next keen
attached with two passport size and stamped on with the court where the case opened, original
married certificate if the death of employee was married, original certificate to next keen given
by the death employee to take care children’s under 21 before his death and should be attached
with the next keen passport and stamped with the court the case opened, copies of birth
certificates of the children under 21 of the death employee, two passport size of the next keen
wife or husband of the death employee and children of the death of employee all of them
stamped with the court the case opened and minutes of the meeting of the relative of the death of
employee which shows the appointment of the next keen who will be responsible for making
sure all the procedure of mirathi is taken accordingly.

Mirathi payment for the death of retired employee

Mirathi for the death of retired employee; Relatives of the retired employee should report to sub
treasury about the death of retired employee and then report to the court so that the procedures
formirathi can take place. After the procedures meet the requirements, dependants of the retired
employee should bring all required documents to the sub treasury office. Dependants include the
wife or husband and children of the age under 12 if any according to the law no.4 of 1978.

10
Lessons learnt in pension/mirathi department; All letters received by the employee from the
employer must be kept for further use because all rights of the dead employee are paid to his/her
dependants considering all the necessary documents. Only the wife or husband and children
under 21 years will continue to be paid the retired pension after the death of the retired
employee.

11
 3.0. CHAPTER THREE: LITERATURE REVIEW

During the practical training period, an important task that was performed regularly was bank
reconciliation. A definition by Cox (2003) attempts to define bank reconciliation as the
explanation of the difference between the final bank balance on the bank statement and the
cashbook maintained by an individual.

Cox and Faradon (2003) have identified major causes of the differences between the bank
balances and the cash book balances to be un-presented cheques, outstanding lodgments,
payments in, payments out and other errors.

Gupta (2003), states that "a bank reconciliation statement is prepared to reconcile bank balances
shown by a cash book and by bank statements. It helps in detecting, if there is any error in
recording the transactions and ascertaining the correct bank balance on a particular date"

Following the recent trends in the technological industry as well as the banking industry, most
people use electronic (cyber) banking as their main mode of accessing their bank accounts. This
has led to a change in the main fees and structure of the bank statements. Authors Slatter &
Wittry (2014) have observed that recently causes of the discrepancies between bank balances and
cash book balances are caused by ATM withdrawal charges, online fees, automatic transferes
and direct deposits.

In recent years bank reconciliation has evolved from the normal manual reconciliation to a
different easier and faster proccess. Accounting software has risen in popularity currently, these
softwares have reduced the bulkiness and manual labour required to undertake a bank
reconciliation procedure. An example is the software which allows a user to reconcile a bank
account and even print out the reconciliation statement at the will of the user.

Following the financial management reforms in Tanzania, the Government through the Public
finance Act (2001) adopted the Integrated Financial Management Information Systems (IFMS).

According to Diamond & Khemani, (2006) the attributes of a well established IFMS is to enable
real-time reconciliation of parallel but related streams of transaction data – at the agency level:
cheques issued with those paid by the banks; at treasury: receipts from banks with the cheques

12
paid by taxpayers; cash balances reflected in the agency ledgers with the cash balances in the
banks.

During the practical training I was involved with reconciling the books of accounts of the
ministry of Finance in the sub treasury Kigoma, which is done by electronic matching where by
bank statement are imported in the Integrated Financial Management System and find out for the
un-reconciled figures which found in Cash book and not in bank statement and also the figures
found in bank statement and not in the Cash book, after checking the figures missed in either
Cash book not in bank statement or bank statement not in Cash book then they do matched
electronically in the system of IFMS and normally the sub treasury performs reconciliation of its
accounts in Monthly basis and there is no way to make reconciliation with no electronic cash
book and bank statement.

13
 4.0 CHAPTER FOUR: ANALYSIS

There is always a tension between Theory and Practice. These two separate realms are connected
through a process of abstraction and application. To explain this relationship by way of theory,
Theory deterritorializes Practice, and Practice reterritorializes Theory: A Theory which is a
becoming-Practice and a Practice which is a becoming-Theory. To explain this relationship by
way of practice, Theory is abstracted Practice, and Practice is applied Theory. Theory is a belief
that guides action; therefore it’s a systematically organized knowledge applicable in relatively
wide variety cases. Normally it is what one has in theory that will apply when it comes into
practice. Theory on the other hand does not cover all what is needed in practice given variety
tasks and duties undertaken in different organizations. The following below is what were
observed during practical training at the sub-treasury office in Kigoma as the comparison
between theory and practice:-

Preparation of bank reconciliation; At the college, I learned only one method of preparing the
bank reconciliation statement, but in practice I have learned more than one method and the most
interesting method was that of using the computerized accounting system which is currently not
insisted so much by academicians at IFM in comparison to the conversional method. There is an
age-old problem with this particular relationship: those who specialize in Practice often claim
that those who specialize in theory are detached from the ‘real world,’ ie, the world of Practice.
Those who specialize in Theory often claim that those who specialize in Practice have no
fundamental understanding of what they do, and this leads to contradictory, incongruous
practices. Most of the personnel at the sub-treasury office prefer the computerized packages to
the conversional ways and believe that it should be the one insisted most by academicians to
learning students. However, reasoning brought me to the conclusion that colleges want to
produce creative graduates who can use the conversional methods combined with technologies to
produce even better software for performing Accounting duties such as preparations of bank
statements. Moreover, the purpose of having students to attend Practical training is a way used
by colleges such as IFM to cement and supplement the knowledge and skills that students
acquire in classes. Rational prediction requires theory and builds knowledge through systematic
revision and extension of theory based on comparison of prediction with observation. It is an

14
extension of application that discloses inadequacy of a theory, and need for revision, or even new
theory. Again, without theory, there is nothing to revise and hence the Institution can revise and
start insisting on the use of the modern systems.

Studies taught at the college were very applicable at the Sub-treasury offices; This made the
practical training at Kigoma sub-treasury office very enjoyable and the office really appreciated
the service given by the student. I hope that they will be free to accept any student from the IFM
college with no doubt of performance, and this really affected positively the plans and ambitions
of the student and made him proud of the education given by Institute of Finance Management.

On the other hand the skills the student currently lacks is because of the level he has reached in
study and hence hopes after completion of studies at the Institute of Finance Management such
lacking skills will have been met and he will be capable of meeting different challenges in the
market. However, in theory, the difference between theory and practice is small. In practice, the
difference between theory and practice is large.

15
CHAPTER FIVE: CONCLUSION AND RECOMMENDATION

The field work at SUB TREASURY KIGOMA was done accordingly and a lot of lessons were
effectively learnt. The student got an opportunity to practice what he has learned in theories and
also got the chance to compare between what is learned in class with what is currently applied in
the market. The student finished his practical training happily and proudly because he realized
that IFM has been offering him what really the market is hungry for. However, the student also
learned that practical training is very important because from practice comes innovation that
makes work performance easier. Conclusively, the student learned that rational prediction
requires theory and builds knowledge through systematic revision and extension of theory based
on comparison of prediction with observation. It is an extension of application that discloses
inadequacy of a theory, and need for revision, or even new theory. Again, without theory, there
is nothing to revise. Without theory, experience has no meaning. Without theory, one has no
questions to ask. Hence without theory, there is no learning."
.
Recommendations; If possible the college should cooperate with government entities and private
entities in making sure that the student get officially enough time at least six months to work in
different business entities so that they can be competent in working before they get employed.
This will help the student to be aware enough about what is going on in the market before they
start job-hunting at different employers or employ themselves. This will help them to get enough
experience which is among the factors considered by employers everywhere.
And because of development of technology it is better to insist the study of accounting packages
in the course of accountancy starting from the beginning of the course so as to make students of
accountancy competent in accounting packages and hence simple for them to adopt to any
accounting package in the market that will make it easier for them to secure jobs as most firms
nowadays prefer Computer packages to old methods.

16
6.0 REFERENCES
 www.mof.go.tz,
 Journal of wizara ya fedha (UTARATIBU WA MALIPO YA UZEENI NA MIRATHI)
 WWW.DAILYNEWS /REPORTERS IN Dodoma 22nd August 2011 @ 12:00
 INSTITUTE OF FINANCE MANAGEMENT (July,2016), practical training Guidelines
for Bachelor Students.
 Document of world bank in March 18 1982- Report no. 3634-TA
 SUB-TREASURY KIGOMA (2015) The annual report 2014-2015

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