INTERNSHIP DIARIES

THE ADVANTAGE OF INTERNSHIP TO STUDENTS

Learning the Importance of the Internship program to
College student pursuing Bachelor of Science in
Accountancy
 MICHELLE ANGELLI T.
CAPIRAL
I. Letter from the Author

Accountancy is way different from what I have imagined. Though it has been my choice
in high school, I was expecting it to be more on math-like problems and procedural
computations. Since I was never been patient enough in memorizations, never I once
thought of becoming a nurse nor a doctor in the future. What made me settled in this
course is because it was introduced to me as an in demand in the industry when I was
choosing a career that can easily give me a decent job that could be helpful to my
parents in the future. Unfortunately, I realized in my second year that I should not
underestimate my course as what I did in high school. I completely forgot that Business
Law is also essential in this course which caught me off-guard. My greatest challenge in
this course is memorization and in addition to that, wide coverage of topics which
makes it more difficult to comprehend.

Gratefulness and Confidence. Those are the qualities I imprint on myself for the past
few years. Gratefulness - to all generous and kind people who have helped despite my
incompetence in some areas and granted me a chance to further improve myself in
some ways. And Confidence - from all the experience and lessons that gave me
courage and strength to achieve my goals and to believe in myself no matter how
difficult the obstacles I will be facing might be.

Fortunately, I was able to continue this course in such prestigious school with high and
demanding standards. Never have I choose to leave things half done nor accomplish
tasks recklessly because ever since I was young, my parents have persistently
inculcate to me that I must be responsible enough to take the consequences to my
decisions. Regardless if my decision is right or wrong, I must be strong enough to take a
stand on my actions and thoroughly grasp any lesson I can learn from all situations. A
wise and commendable person used to say, Once you start something, dont stop
until youre done., never lose hope on whats in front of you and just think of how
good and happy you will be once you reach the end of your goals.

This is Michelle Angelli T. Capiral, an upcoming fourth year student, and is delighted to
share to you my experiences and lessons I have learned during my internship program.
Aiming to give you anticipation and encouragement after taking a sip on how the reality
and environment of this career would look.
 Michelle Angelli T. Capiral
BSA, San Beda College
II. Objectives

This Internship diary seeks:

1. To show the relevance of the internship program to a BS Accountancy student
2. To have a hands-on experience in practicing the future career
3. To quickly grasp the environment of working in an office
4. To share my experiences and lessons to readers
5. To summarize all the activities and tasks given to me during my internship
program
6. To make us of all the theories I learned from the books in actual practice

III. The Firm

LUX APPLIANCE PHILIPINES, INC.

Luxphil is a privately owned company based in the Philippines. Though founded in

2015, it looks back with pride to the men and women with vision who started the idea of
Luxphil back in 1980 in Manila. Called Electrolux then and later on - Lux Marketing, Inc,
they started the journey of LUX direct sales by improving the knowledge about health
issues to many homes in the Philippines.

Today, Luxphil is the exclusive authorized distributor of Lux products (Lux Asia Pacific)
in the Philippines, delivering with highly motivated, trained Members and customers as
Ambassadors of knowledge about health, beauty, prevention, renewable energy at the
same time protecting the environment for families around the 7107 islands of the
Philippines.

Luxphil is a partner of Lux Asia Pacific operates in more than 5 countries in Southeast
Asia and is a part of the German Vorwerk Group. Vorwerk has today more than 600,000
employees and sales consultants, has operation in more than 70 countries around the
world. Vorwerk is a global leader in direct sales and standing in line with names like
Amway, Avon and many more.

PRODUCTS
The products and services are from certified highest quality, user-friendly products
which improves efficiency in daily life and are environmental friendly. With modern tools,
Luxphil keeps contact with its members, partners and customers for updates on
products, services and health issues.

MISSION
With Health is Wealth as its slogan, Luxphil stand for its members and partners and will
do its part to constantly deliver information and solutions to better health thru
prevention, thus saving its own wealth.

To succeed together in this endeavor, it is believed that the Luxphil culture of fun
involvement - spirit and happiness; that these are the keywords for its members,
customers and partners in their daily conduct . Luxphil conduct its business based on:
Support, real interest in each other and that the trust it receives and gives are the basis
of its business today.

VISION
To become the first brand in the Philippines to educate people about modern day health
issues health and how to actually stay healthy.

Together with its partners trusted non profit organizations like the Philippine Breast
Cancer Network, Luxphil intends to create awareness about the real health situation in
the Philippines today. Networking sharing and involvements from many different
organizations enables all to prepare for the future with health and wealth.

IV. Timeline/ Task Report

I was designated in the Accounting department of the Head office. My tasks are quite
wide but inconsistent since every working day, I am assigned with different activities
that are challenging and exciting. I consider it advantageous and better because I can
have a hands-on experience on different tasks. Fortunate for me who can do better if
such tasks are accomplished directly.

There are numerous tasks as far as I could remember such as:

a. Bank Reconciling - it is a process that explains the difference on a
specified date between the bank balance shown in an organization's bank
statement, as supplied by the bank, and the corresponding amount shown
in the organization's own accounting records. Since the company does not
have a thorough system for bank reconciliation, I had to do it manually
through Windows Excel. The superior instructed me first while at the same
time giving me the reason behind such step. She was also very
approachable and respectable for answering all my doubts and questions
concerning some difficult terms I havent learn from school. Thanks to her
guidance, I was able to accomplish my task in reconciling their Bank of the
Philippines and Security bank account. Furthermore, I learned a lot in
utilizing the functions of Windows Excel which I thought would be very
helpful once I start my career.
b. Checking of Unreconciled items - After reconciling the accounts and
segregating the unreconciled items, I had to look and check its reference if
there were just errors or the person in charge of such batch should be
notified. Since I was told to reconcile the accounts from January to April of
2017, and having regard that the cut-off is May 10, there were numerous
unreconciled transactions that are dated last year. These transactions
should be give due notice to its respective batch holder and should not be
included in the unreconciled transactions. All reconciled items should be
commented with an updated and detailed source so the chief-in-charge
will be able to correct the entry at ease.
c. Journal Voucher Entries - The company only uses CMD in recording
daily transactions. Since I am not knowledgeable in such system, I was
kindly instructed by full-time employees in working effectively and
efficiently to my designated task. Fortunately, I just have to provide a note
for the confusing codes to be able to do my task well and competently.
d. Filing Transactions - It is the process of compiling and organizing
transactions by their type and reference number. Before the start of the
internship program, the supervising professor told us that never let the
company assign you to just filing since it would likely waste the hours
without the intern learning much. Fortunately, it was only assigned to me
once and just a matter of experiencing how to file transactions. It doesnt
require thorough thinking instead it was mostly on organizing and
compiling transactions though it takes a lot of time.
e. Filing Income Tax Returns - Filing quarterly returns to BIR carefully and
efficiently through Electronic Filing and Payment System (EFPS). There
were several types of forms I had to file and I am not very familiar with the
procedures. But thanks to my superior, he instructed me and helped me
 how to do my job efficiently. After filing, I was told to print the confirmation
of the filing for their compilation of records.
f. Expanded Withholding Tax Entry - The company has an application for
recording entries for Expanded Withholding Tax so my superior gave me
the procedures and the codes for the different percentage designated to
different employees.
g. SSS, PhilHealth and Pag-ibig Contributions - Fortunately, I realized this
task is connected to what I learned in Cost Accounting (ACCT10). An
employees payroll will be deducted by such contributions wherein such
deductions will be different from some employees since it varies for
several grounds. I just have to provide the correct contribution for the
following employees and check if the amounts I provide are matched from
the correct amount to be deducted.
h. Value-added Tax Computation - Since I was assigned to provide the
payroll I had to make sure to use the correct Value-added Tax formula for
different products. Thankfully, I was able to apply what I learn from school
in practice.
i. Matching of Journal vouchers and Value of Production - By using
Windows Excel, I was able to access their file containing transactions for
year 2017. I was given a task wherein I have to match the entries from the
pair of accounts. This activity is necessary to determine all the unmatched
entries and afterwhich providing it details for the convenience of the
person in charge

V. Practicum Dictum

Grab every opportunity to

learn more at all times.
As we all know, Having
abundant knowledge is
one of the key to
success. That is the

VI. What My Mentor Told Me

I actually had a lot of mentor during my internship, They gave me advices and profound
knowledge in order to accomplish the tasks designated to me systematically and
efficiently such as the convenient and easy-to-do steps of procedures for most of the
tasks and utilization of Windows Excel. They even taught me the proper use of pivot
table which they indicated as one of the essential and useful tool in the business
industry. Pivot table is a program tool that allows you to reorganize and summarize
selected columns and rows of data in a spreadsheet or database table to obtain a
desired report. I remember this program being mentioned by one of the guest speakers
during my practicum seminar as a very important tool in business. He exclaims that with
the help of the Pivot table, he can easily determine the volumes of purchases or goods
or expenses in periods of time. Since he works at a buffet-style restaurant business,
effective determination of values of expenses would be very essential and helpful for
him to work faster and efficiently.

Furthermore, they also thought me the best attitude during work which is to be
respectful, observant, and disciplined. Being respectful is the feeling or showing
deference and respect to another person or group. This attitude should not only be
directed to the superiors but also to my fellow co-workers. It shows effective
communication which will be helpful in all times. For instance, I am having a hard time
solving portions of my tasks but with my co-workers help, Ill be able to solve it faster
rather than answering it on my own which would take a lot of time. Another is being
Observant which means, I have to be quick in noticing things. This will help me
accumulate positive points from my superior for being vigilant and quick-minded which
is very advantageous in business. If a person is quick in noticing situations, he would be
the first to think of a solution which could answer the problem approaching. The last
attitude is being Disciplined. This is one of the most essential attitude which
substantially affect your co-workers impression of you. Similar to the attitude I have in
school, being disciplined in all times show my passion and commitment to such task.
This is why discipline is thoroughly engraved to students to become a better adult.

VII. Note To Future Colleague

Dear future colleague,

Cordial Greetings! I would like to extend my appreciation and happiness to you for
successfully graduating and passing the board exam. It is my greatest honor to
welcome you in this field of profession since it takes a person with competence and
passion to overcome all the hardships and struggles in college. I hope this journal will
be helpful to you as you go in the real world of business. It will be more fun if I could
meet you as my co worker and will be delighted to teach the ropes in this field of work.

Please do not hesitate to approach me because I would be more that grateful to be of

help with my fellow colleagues. If there is anything I could help, I would be more than
willing since this act is a sign of dedication and gratefulness not just to you but also to
those people who help me when I was in your shoes in the past. This way I could at
least give my thanks to those generous people by lending others a hand.

Be confident but never forget to be modest enough to admit mistakes and always be
grateful so you can enjoy your work with honor and dignity. I will be looking forward to
see you and may God bless you and your family.

Truly yours,
Michelle

VIII. Conversation With The Future

Hello future me!

I have been wondering how you are doing there. I wish that by time you set your eyes to
read this journal again you finally became a CPA and settled on a decent job. Just focus
on your goals. Remember when you are still 19 years old, you aspire to become a CPA
to help your parents and give them a peaceful and comfy life ? You also promised
yourself that you have to provide funds for your future dogs! Well, all of us have our own
reason why we work hard. One things is of course our never ending gratitude to our
parents who have done so much that they chose to sacrifice their happiness for our
sake. Dont just think of your own happiness and remember to give importance to them
first.

Another thing is that for an accomplishment for yourself. We both hate having regrets
and weve had enough of it. Do not hesitate because remember the times when we
doubt ourselves ? We just downgrade ourselves and never see the true gem hidden
underneath. Be confident because we have already made it this far. It is now our time to
keep our head held high and chin up. Just dont forget to courteous and kind. Always
take opportunity of what is in front of you. Work hard at all times and believe in yourself
because you are better than you think.

From your 19 year old self

IX. Communication Commandments

I promise that I will:

1. Always work hard
2. Always be responsible to my duties and obligations
3. Always be humble
4. Always admit my mistakes
5. Never forget the people who have supported me
6. Always be grateful
7. Always prioritize what I need to do than what I want to do
8. Always be grateful for every blessings God had given me
9. Always respect not only my superiors but also my co-workers at work
10. Always be impartial and unbiased in making judgements and decisions

X. Memo To Self

A year and a half is left and you will soon graduate. Dont keep extending your term and
be mature already. I know you are already working hard but we all know it is still not
enough. You know you still lack in some areas that is why you have to exert extra effort
to cope with your weak points.

Do not be disheartened that most of your batchmates are one step ahead of you but
instead, take it as a challenge to pass your limitations and at least be at par with them
or even better surpass them. Try accomplishing it and itll be the most satisfying gift you
could ever give to your past self. You know your old self have a lot of insecurities and
worries so even if little by little, try solving those problems you have and Im sure it will
help you boost your confidence and at the same time improve yourself in many ways.

Lets work hard for the remaining years and after graduation, lets work even harder to
pass the board exams. I do not need and evolution where you have to become a
competent person from A to Z but instead I need progress to make myself better and
more competent that I could have ever be.

XI. A Few Formulas

 Diligence xxx
Confidence xxx
Gratefulness xxx
Humbleness xxx
Courteousness xxx
Braveness xxx
Carelessness
xxx
Arrogance
xxx
Greediness
xxx
Impatience

XII. Recommendations

I recommend you to wisely choose the company or firm to apply. Remember to not just
stick to conversations or just ride on your friends connections and be diligent enough to
try many entities with credited background. Be aware that this internship program shall
appear in your resume and can be used as an advantage during your application and
interview.

Try applying your internship to big and well-known companies. And if you are a
Bachelor of Science in Accountancy (BSA) undergraduate, it is more recommendable to
choose an accounting firm rather than a company. This is for experience sake and will
be very helpful as you work in your profession. The environment of your practicum is
important because in the real world, theories from books will not be that helpful if you do
not know how to apply it in real practice. You have to take a stand for yourself with a
mind full of knowledge and experience. That way you can survive and be successful in
the real world.

XIII. Conclusion

I learned it is very important to be sociable with other people. I must never forget to be
humble and courteous not only to my superiors but also to my co workers. Being
respectful to superiors is already a given while for my co workers, it will help me in
dealing with crucial scenarios when I can no longer solve the problem by myself. With
their help, I can finish it faster rather than thinking of a solution by myself which takes a
lot of time.

I also learned that use every opportunity to learn since this instructions might be helpful
in the future. During my compliance to the required hours, I must be diligent enough to
make the first move in lending help to my co workers. It is better to not hesitate since
time is essential and it would not wait for me to collect myself in complying with my
duties.

Being grateful is also a key to success. Indeed it gave me additional work but it will also
give me a kind of fulfillment and happiness while helping others in a pinch. Always be
kind and approachable to gain respect and trust from others. This way it will gradually
build the foundation of a successful and satisfied professional.