Internship – ACCT 430

College of Administration and Finance SciencesForm No 4- Internship Report Cover Page
Student`s name:
Student`s ID #:
Training Organization:
Trainee Department:
Field Instructor Name:
Field Instructor Signature:
Course Title:
CRN:
Internship Start Date:
Internship End Date:
Academic Year/Semester:
For Instructor’s Use only
Instructor’s Name:
Total Training Hours /280
Students’ Grade: Marks Obtained /30
Level of Marks: High/Middle/Low
College of Administration and Finance Sciences
Academic Report Guideline(Co-op)
(please do not include this text in the final report, just follow its guidelines and
use the cover page above)
The report should be submitted within two weeks after you finish your Co-op training Program.
In addition, the report should be approximately 3000 – 4000, single –spaced and consider taking the
following format
General instructions for writing the final report:
The report must be written in English language.
The word limit is 3000-4000.
If the report word count is not within the required word limit, marks will be deducted.
The font size is 12, Times New Roman, justified, 1.5 space.
Main headings use font size of 16 and bold.
Add page numbers in the middle bottom of the page.
Plagiarism or copying from other sources will result in ZERO marks.
This report must be submitted on Blackboard (WORD format only) via the allocated folder.
Your work should be clearly and completely presented; marks may be reduced for poor presentation. This
includes filling your information on the cover page.
Assignment will be evaluated through BB Safe Assign tool. Late submission will result in ZERO marks
being awarded.
First Page
The first page should display the student’s full name, internship start and finish dates, working hours per
week, company/institution name, and the cover page.
The field instructor should sign on the first page.
A Brief Executive Summary of the Internship
A one-page summary of the company/institution and a short account of the major activities carried out
during the internship period.
Acknowledgment
To allow the student to express her/his thankful and gratitude to individuals (such as: field instructor,
academic supervisor, colleagues…etc.) who help them in carrying out and completing her/his training
journey. This part will aid the students to learn basic elements of academic writing. To express their
appreciation in a concise and professional manner.
Table of Contents
Contents of the report with page numbers, list of tables, and list of figures.
Introduction
A brief of the report. The Aim of the report.
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Chapter 1: Description of the company
This section should answer the following questions:
What is the full title of the company/institution?
Give a brief history of the company, full mailing address and relevant weblinks
What is the type of ownership of the company/institution?
State the main shareholders and their shares.
What is the sector that the company/institution operates in?
Specify the products and services produced and offered to its customers/clients.
Who are regarded as the customers/clients of your internship company (consider the end users, retailers,
other manufacturers, employees,etc.)?
Provide an organization chart of the company, along with information on the number of employees.
Provide a list of functions performed by different departments/divisions in the internship organization.
Provide an overview off the production system or service procedure (what are the resources, inputs,
outcomes, andconstraints?)
Provide a process chart of a major product and/or service.
The following questions can be classified as your major fit (Finance, Accounting, Ecommerce and
Management).
• What kind accounting/finance/IT//quality/marketing standards and principles are used in the
organization?
• Discuss telecommunication technologies (Database, Instant Messenger, Networking, Ecommerce tools)
used in the company.
• Describe the quality planning and control activities in the internship organization.
• Describe the quality control activities throughout the life cycle of the product/service groups
• What kind of financial analysis and decision-making methods are used by corporate treasurers and
financial managers in the internship organization?
• What types of marketing, selling, and human resources analysis are performed (cost system, evaluation
of consumers, needs, product strategy, distribution strategy, promotional strategy)?
Chapter 2: Internship activities
This is the main body of your report. During the internship period, the focus of the training may on the
following types of analysis and questions. You do not have to answer all the questions in the list: •
Describe your working conditions and functions, such as: Who is your supervisor (include his/her name
and his/her position); other team members or co-workers and what their functions are to complement
yours.
• Provide a detailed description about the department(s) that the trainee did her/his training with them.
Adding all sub-divisions for this department(s) if it is available. Student can add to this description a
supported chart.
• Detailed descriptions about all tasks and activities that the trainee did them during her/his training
period.
• Gained skills and how they added value to your work
• Other tasks that are not related to the trainee’s major that done by her/him at the company should be
included in this chapter as well.
• What types of incentives did you get as a trainee to be more proactive and productive?
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• Describe what kind of working documents and analysis you did there and what experiences you have
gained throughout yourtraining. Provide examples of your work.
• A comparison between theory (things you have learned in the classroom) and practice (things you did or
observed at the company) must be made and highlighted. In this section the student can add a supported
table includes which academic course (s) (course title and code) helped to perform training tasks. For
example, two columns; the first one shows the course name and second column shows the tasks
performed and related to this course.
• Show some work samples that you have encountered/conducted at the company through graphs,
pictures, data, drawings, or design calculations and include them in your report.
• Lessons learnt (what the overall benefits gained from the training program)
Chapter 3: Recommendations
• Advantageous that helped the student in completing the training program.
• Disadvantageous and challenges that faced the student and how he/she did overcome them.
• Recommendations to improve training program in the college.
• Recommendation for the training company. Conclusion Sum up and summary of the training
experience. Reference If it is needed Appendix (option) This will help the instructor to have a background
about the trainee and his/her previous experiences. Also, it helps the students in writing their CVs for
future job application especially for fresh graduates who do not have previous practical experiences.
• Basic information (name, city, contact details…etc.).
• Job objectives.
• Academic qualifications.
• Practical experiences.
• Skills this will help the instructor to have a background about the trainee and his/her previous
experiences
College of Administration and Finance Sciences
Form Number 3 – PERIODIC REPORT
Internship Student Report | Month July
Start Date: 1 / 7 / 2024
End Date: 13 / 7 / 2024
Student’s Name: Qassim Mohammed Al-Sawad
Student’s ID Number: S210028095
Training Organization: Deloitte & Touche & Co
Trainee Department: Accounting
Trainee Supervisor Name: Mahmoud Ali
Faculty Member: Hamad Al-Humoudi
Course: ACCT430
CRN: 50206
Academic Year/Semester: 2023/2024
summer semester
(Instructions)
➢ This report must be submitted on Blackboard (WORD format only) via the allocated folder.
➢ Email submission will not be accepted.
➢ Your work should be clearly and completely presented; marks may be reduced for poor
presentation. This includes filling your information on the cover page.
➢ Assignment will be evaluated through BB Safe Assign tool.
➢ Late submission will result in ZERO marks being awarded.
➢ This work should be your own, copying from students or other resources will result in ZERO
marks.
➢ Use Times New Roman font 12 for all your answers.
College of Administration and Finance Sciences
(Report Components)
What are the activities and tasks given to you during this
month?
• Assisted in preparing tax returns for various clients.
•
Task(s)
Conducted research on recent tax regulation changes
and their implications.
•
Supported senior team members in client meetings
and presentations.
What skills did you learn through the month?
• Gained proficiency in using tax preparation software.
•
New skill(s)
Improved understanding of tax compliance and
reporting requirements.
•
Enhanced research skills related to tax laws and
regulations.
How many meetings did you attend?
• I participated in three meetings as part of my
onboarding process. The initial meeting involved a
discussion with the Head of Human Resources, where
Meeting(s)
we addressed pertinent matters related to my role and
responsibilities within the organization. Subsequently,
I engaged in a meeting with my designated coach,
during which we focused on establishing objectives
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and strategies for my professional development.
Lastly, a meeting was organized to introduce me to
the team with whom I will collaborate in my new
role.
•
Following these meetings, I proceeded to complete a
series of e-learning courses designed to enhance my
knowledge and skills relevant to the job
requirements.
What are the difficulties you had this month?
• Understanding complex tax regulations and applying
them accurately to different client scenarios.
•
Managing time effectively to meet tight deadlines for
multiple clients.
Difficulty/ Challenge(s)
How did you overcome these difficulties?
• Sought guidance and clarification from senior team
members and mentors.
•
Created a detailed schedule to prioritize tasks and
ensure timely completion.
What did you learn from completing the tasks
• Learned the importance of attention to detail in tax
Learning
preparation and reporting.
•
Gained practical experience in client communication
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and presenting tax-related information.
What did you want to learn more?
• Wanted to learn more about international tax laws and
their impact on multinational clients.
•
Interested in exploring advanced tax planning
strategies and their implementation.
*Note:
1. This report is a summary of the training activities performed.
2. You may attach additional pages if needed. And student can attach any extra note to this form.
Name: Qassim Mohamed Al-Sawad
Signature:
College of Administration and Finance Sciences
Form Number 3 – PERIODIC REPORT
Internship Student Report | Month July
Start Date: 23 / 7 / 2024
End Date: 30 / 7 / 2024
Student’s Name: Qassim Mohammed Al-Sawad
Student’s ID Number: S210028095
Training Organization: Deloitte & Touche & Co
Trainee Department: Accounting
Trainee Supervisor Name: Mahmoud Ali
Faculty Member: Hamad Al-Humoudi
Course: ACCT430
CRN: 50206
Academic Year/Semester: 2023/2024
summer semester
(Instructions)
➢ This report must be submitted on Blackboard (WORD format only) via the allocated folder.
➢ Email submission will not be accepted.
➢ Your work should be clearly and completely presented; marks may be reduced for poor
presentation. This includes filling your information on the cover page.
➢ Assignment will be evaluated through BB Safe Assign tool.
➢ Late submission will result in ZERO marks being awarded.
➢ This work should be your own, copying from students or other resources will result in ZERO
marks.
➢ Use Times New Roman font 12 for all your answers.
College of Administration and Finance Sciences
(Report Components)
What are the activities and tasks given to you during this
month?
• Assisted in reviewing and validating data for an
ongoing tax compliance project.
Task(s)
•
Conducted research on potential tax credits and
incentives that could benefit a client.
•
Helped prepare materials and presentations for an
upcoming client meeting.
What skills did you learn through the month?
• Proficiency in using data validation and reconciliation
tools.
•
Ability to research and identify relevant tax credits
New skill(s)
and incentives.
•
Presentation preparation and delivery of client-facing
materials.
How many meetings did you attend?
• one meeting to prepare for the upcoming client
Meeting(s)
presentation.
What are the difficulties you had this month?
• The main challenge was quickly ramping up on the
Difficulty/ Challenge(s)
ongoing tax compliance project and getting up to
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speed on the client’s complex tax situation.
How did you overcome these difficulties?
• Proactively requesting additional background
materials and meeting with the project lead.
•
Asking clarifying questions during team meetings to
ensure I understood the key issues.
•
Working closely with senior team members to learn
from their expertise.
What did you learn from completing the tasks
• From this experience, I gained a better understanding
of the full lifecycle of a tax compliance engagement,
from data gathering to final deliverables. I also
learned how to effectively collaborate with crossfunctional teams to develop comprehensive tax
Learning
solutions for clients.
What did you want to learn more?
• I would be interested in learning more about the use
of data analytics and visualization tools to enhance
tax planning and advisory services. Additionally,
gaining exposure to international tax planning
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strategies would be valuable, as Deloitte serves many
global clients.
*Note:
1. This report is a summary of the training activities performed.
2. You may attach additional pages if needed. And student can attach any extra note to this form.
Name: Qassim Mohamed Al-Sawad
Signature:
College of Administration and Finance Sciences
Form Number 3 – PERIODIC REPORT
Internship Student Report | Month July
Start Date: 14 / 7 / 2024
End Date: 23 / 7 / 2024
Student’s Name: Qassim Mohammed Al-Sawad
Student’s ID Number: S210028095
Training Organization: Deloitte & Touche & Co
Trainee Department: Accounting
Trainee Supervisor Name: Mahmoud Ali
Faculty Member: Hamad Al-Humoudi
Course: ACCT430
CRN: 50206
Academic Year/Semester: 2023/2024
summer semester
(Instructions)
➢ This report must be submitted on Blackboard (WORD format only) via the allocated folder.
➢ Email submission will not be accepted.
➢ Your work should be clearly and completely presented; marks may be reduced for poor
presentation. This includes filling your information on the cover page.
➢ Assignment will be evaluated through BB Safe Assign tool.
➢ Late submission will result in ZERO marks being awarded.
➢ This work should be your own, copying from students or other resources will result in ZERO
marks.
➢ Use Times New Roman font 12 for all your answers.
College of Administration and Finance Sciences
(Report Components)
What are the activities and tasks given to you during this
month?
• Prepared tax forms and documentation for clients,
ensuring compliance with applicable laws and
regulations.
Task(s)
•
Participated in client meetings to gather information
and understand their withholding tax requirements.
•
Analyzed financial data and transactions to determine
the appropriate withholding tax amounts.
What skills did you learn through the month?
• Improved communication and presentation skills by
participating in client meetings and assisting in report
preparation.
New skill(s)
•
Enhanced research and analytical skills through
conducting in-depth research on withholding tax laws
and regulations.
How many meetings did you attend?
• I participated in two meetings over the past two
weeks. In the first meeting, my team and I gathered to
Meeting(s)
discuss project updates and exchange valuable
insights. The second was to focus on meeting with our
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clients to gain a deeper understanding of their
withholding tax requirements and extend our support
and guidance accordingly.
What are the difficulties you had this month?
• Adapting to changes in tax laws and regulations,
requiring continuous learning and updates.
•
Dealing with incomplete or inconsistent client
information: Clients may provide incomplete or
inconsistent information, making it challenging to
determine the correct withholding tax amounts.
Resolving such discrepancies requires thorough
investigation and collaboration with the client.
Difficulty/ Challenge(s)
How did you overcome these difficulties?
• Utilized internal resources, such as research databases
and tax guides, to enhance understanding and
overcome challenges.
•
Collaboration with the client: I collaborated closely
with the client to gather missing information or
resolve inconsistencies. This collaboration often
required regular follow-ups, requesting additional
documentation or clarification to ensure accuracy in
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the withholding tax calculations.
What did you learn from completing the tasks
• Gained hands-on experience in applying withholding
tax regulations to real-world scenarios.
•
Developed a comprehensive understanding of the
importance of accuracy and compliance in tax-related
work.
•
Learned effective communication skills while
interacting with clients and collaborating with team
members.
Learning
•
Enhanced problem-solving abilities by analyzing
complex withholding tax situations and finding
appropriate solutions.
What did you want to learn more?
• Familiarization with advanced tax software and tools
to streamline withholding tax calculations and
reporting processes.
•
Exploring industry-specific withholding tax
requirements and their impact on different sectors.
*Note:
1. This report is a summary of the training activities performed.
College of Administration and Finance Sciences
2. You may attach additional pages if needed. And student can attach any extra note to this form.
Name: Qassim Mohamed Al-Sawad
Signature:
College of Administration and Finance Sciences
Final report
Student`s name:
Student`s ID #:
Training Organization:
Trainee Department: Account Department
Field Instructor Name:
Field Instructor Signature:
Course Title: ACCT430
CRN:
Internship Start Date: 11/12/2022
Internship End Date: 5/2/2023
Academic Year/Semester: 2023 / 2nd
For Instructor’s Use only
Instructor’s Name:
Total Training Hours /280
Students’ Grade: Marks Obtained /30
Level of Marks: High/Middle/Low
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Executive Summary:
Alyamama Company is known to be one of the largest firms in Saudi Arabia. The
company was formed in the year 1952, not only as a contracting firm but also for trading. Since it
was created, the firm has completed many projects related to maintenance and operation, as well
as irrigation and landscaping. The company is known for its leadership in many sectors in Saudi
Arabia. Through this, it has gained a solid reputation and ethnicity, especially in providing its
services to its esteemed customers. During the internship period, the main activities include
displaying the firm’s marketing programs and adverts. It aided the company in reaching most of
its clients and educating them thoroughly about the goods and services it offers. Secondly, the
generation of budgets was used in advertising and marketing campaigns. These budgets were
mainly generated during the planning process and the time in which the resources would be
allocated.
Another significant activity during the period of the internship was the planning of efficient
marketing strategies. These strategies help ensure the company reaches a larger audience,
increasing sales and revenues. Another activity carried out during the internship was examining
and evaluating the impact to which extent the executed strategies would affect the target audience.
It enabled the firm to make changes or implement new solutions where needed. Finally, there was
crucial management of all decisions as well as procedures that have a direct impact on the
employees. It ensured that the employees worked in a calm environment where they were
comfortable and felt that their voices were heard.
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Acknowledgment:
The internship opportunity I was lucky to have with Alyamama Company, located in the
Kingdom of Saudi Arabia, was such a great opportunity. It allowed me to learn more about
professional development on a deeper level. Because of this, I was lucky to be part of this great
firm. I am also thankful for the chance because I met many outstanding individuals and
professionals who taught me many things and guided me throughout the internship. I am
particularly grateful to the field instructor of Alyamama Company, who ensured that I had
everything I needed and a comfortable working space, even though he had a hectic schedule. I am
also very much grateful to the academic supervisor who went down this journey with me and
corrected me where needed. I remember all my colleagues who welcomed me with warm hearts
and ensured that the duration of time I was in the firm was smooth, and also gave me guidance
which was of great importance to my theoretical and practical studies. I gained more skills than I
even anticipated, which was great.
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Table of Contents
EXECUTIVE SUMMARY: ………………………………………………………………………………………………………… 2
ACKNOWLEDGMENT: ………………………………………………………………………………………………………….. 3
INTRODUCTION: …………………………………………………………………………………………………………………. 6
CHAPTER 1…………………………………………………………………………………………………………………………. 6
BACKGROUND OF THE COMPANY: …………………………………………………………………………………………. 6
ORGANIZATION CHART ………………………………………………………………………………………………… 7
SYSTEMS ADOPTED BY THE COMPANY: ………………………………………………………………………………….. 8
CHAPTER 2…………………………………………………………………………………………………………………………10
INTRODUCTION: …………………………………………………………………………………………………………………10
SUPERVISION:…………………………………………………………………………………………………………………….10
INTERNSHIP ACTIVITIES: ………………………………………………………………………………………………………10
REQUEST PURCHASE ORDER: ………………………………………………………………………………………………………10
DIRECT CONTINGENCY MATERIAL: ………………………………………………………………………………………………..11
COLLECTION REPORT: ………………………………………………………………………………………………………………11
PAYMENT CERTIFICATES: …………………………………………………………………………………………………………..12
BANK RECONCILIATION: ……………………………………………………………………………………………………………12
PETTY CASH: …………………………………………………………………………………………………………………………12
THE SKILLS I ACQUIRED: ……………………………………………………………………………………………………….13
TYPES OF INCENTIVES OFFERED: ……………………………………………………………………………………………14
CHAPTER 3: RECOMMENDATIONS …………………………………………………………………………………………14
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INTRODUCTION: …………………………………………………………………………………………………………………14
ADVANTAGES/STRENGTHS: ………………………………………………………………………………………………….14
CHALLENGES/ DIFFICULTIES: …………………………………………………………………………………………………15
RECOMMENDATIONS TO THE COLLEGE: …………………………………………………………………………………16
RECOMMENDATIONS TO THE COMPANY: ……………………………………………………………………………….16
CONCLUSION: …………………………………………………………………………………………………………………….17
REFERENCES: ……………………………………………………………………………………………………………………..18
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Introduction:
Internship programs have become a way in which individuals can become part of the
corporate level. Through the internship, I gained more knowledge concerning the working
environment in the real world. This report will explain the whole internship journey deeply,
including what new things I learned, and the activities bestowed upon me. It will also demonstrate
the skills I gained at the end of the internship period.
Chapter 1
Background of the Company:
Alyamama Company is the company I had the opportunity to be part of during my
internship period. Alyamama Company is known to be one of the largest firms in Saudi Arabia.
The company was formed in the year 1952, not only as a contracting firm but also for trading.
Since it was created, the firm has completed many projects related to maintenance and operation,
as well as irrigation and landscaping (Mason, 2023). The company is known for its leadership in
many sectors in Saudi Arabia. Through this, it has gained a solid reputation and ethnicity,
especially in providing its services to its esteemed customers.
During the internship period, the main activities include displaying the firm’s marketing
programs and adverts. It aided the company in reaching most of its clients and educating them
thoroughly about the goods and services it offers. Secondly, there was the generation of budgets
for advertising and marketing campaigns. These budgets were mainly generated during the
planning process and the time in which the resources would be allocated. The contact address of
the company is @yc.com.sa. It is estimated that the company makes a revenue of $35 million
yearly. The firm’s website is http://www.yc.com.sa, while the address is P.O. Box 68842, Riyadh,
Ar Riyad, and S.A.
The company is a partnership. It is because some of the financial investments in quite
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several public and private companies belong to it. The company’s principal shareholders are
Abdukarim Hamad A Al-Mijil, who has a total of 2,961,556 shares. Dimensional Fund Advisors
L.P. has a total of 400,934 shares, and finally, McKinley Capital Management LLC, with a total
of 38,031 shares. (Baniasad, A., Littke, R., & Abeed, Q. (2023). Construction and engineering is
the sector in which the company operates. Its main products and services include gas and oil,
maintenance and operation, management of waste, as well as technical and environmental benefits.
The company has grown vastly in Saudi Arabia by providing these goods and services. Individuals
who have issues in the maintenance of their products, those in need of oil and gas, those who want
their waste maybe from their businesses to be managed, as well as those who require environmental
services, be it retailers or manufacturers, are termed to be the main clients of the company.
The diagram below is the organizational chart of the company. (Alajmi et al., 2023). It
visually shows the company’s internal structure by showing in deep detail the relationships, roles,
and responsibilities of all the individuals in the firm. It is easy to explain the company’s network
to potential investors and new individuals in the firm, such as employees. It is presented in the
form of a flow chart.
Organization chart
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The production system mainly involves production, planning, maintenance, and technical
or industrial design. The resources include any raw materials or labour that is utilized in the
manufacturing of the final product.
Systems Adopted by the Company:
International Financial Reporting Standards are the accounting standards used in the firm.
The use of these accounting standards has helped the company in the allocation of capital. They
have also aided the firm in identifying new opportunities, thus reaching a broader market. They
have also been helpful in that the company can identify potential risks across various industries.
With this, it can escape some losses. (Al-Bogami, 2023). As a company, using a single accounting
language trusted by all has reduced the cost of not only capital but also the cost of international
reporting. The company uses Cisco Solutions as its telecommunications technology (OCualain &
Tawiah, 2023). It has helped the company to achieve network safety, routing solutions, and
wireless networking solutions. In addition, the answers have had a significant advantage on the
company’s communication level. They have also ensured that there is timely delivery of
information not only to individuals working for the company, both junior and senior staff but also
in providing information to their clients and the target audience.
The company has maintained quality planning and control activities through continuous
execution and operation in most projects. These projects mainly lie in construction, landscaping,
and irrigation. By maintaining quality planning and control, the firm has become of the leading
companies in many sectors, such as general contracting. The company has become a highly
competitive national brand in Saudi Arabia. The quality control activities carried out in the firm
include: bringing on board the QMS. These are useful in planning, inspection, operations,
documentation, and fabrication. These control activities are carried out throughout the products’
life cycle until they reach their final or end users.
The financial analysis used is both fundamental as well as technical analysis. Fundamental
analysis is a type of valuation the company uses while analyzing its stock. It is essential to
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determine whether a particular stock is undervalued or overvalued by the market. On the other
hand, technical analysis is used to evaluate various investments and identify any trading
opportunities, as seen from the charts. The decisions are made through a consensus whereby the
firm negotiates from a position that all the other members can agree. They also use voting as a
decision-making method before taking a serious step to see who agrees and who does not. The
company conducts marketing, selling, and human resource analysis by conducting a detailed
assessment of the firm’s target market and the level of competition with its rivals.
The company uses interviews, surveys, and customer observation to analyze its market. It
involves a thorough assessment of a particular need in a specific industry. It enables the firm to
know if there is any shift in the market or if any change is required to maintain and keep delivering
up to their customer’s expectations. Market analysis has also enabled the firm to position itself well
to cope with competition and maintain its place in the industry. With this, not only does it preserve
the number of customers that it has, but also it attracts even more of them.
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Chapter 2
Introduction:
In this chapter, I will discuss mainly the training program. Describe the tasks I was
assigned, the skills I gained, and how they added value to my work. I will also discuss the types
of incentives I got as a trainee.
Supervision:
Ms. Mashael Alzubaidi, senior accountant supervised me. she was always available
whenever I needed help, which made my time at the firm even more accessible. she was a great
boss to have. she contributed significantly to successfully finishing my training by ensuring I had
a conducive working space. The whole experience made me feel at home.
Mr. John and Mr. Jermaiah are the collogues who are always available to give me a hand
whenever I need, they supported me in all tasks that assigned.
Internship Activities:
ALYAMAMAH Co. provides Aramco with two types of business lines, either services
or materials. If the service is included in the agreement, that would be called REQUEST
PURCHASE ORDER or called DIRECT CONTINGENCY MATERIALS.
Request Purchase order:
When Aramco requests a service, ALYAMAMAH Co. issues Request Purchase order with
10% retention according to the agreed terms and conditions, which will be collected by the end of
the year.
A summary of invoices will be issued after the service’s completion, including Request
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Purchase order number, period, type of service, and price, along with the 10% retention to be
signed and approved by both parties.
Note: each service has a Request Purchase order number, and similar services would take
the same Request Purchase order.
Direct Contingency Material:
This type of service will be made or issued once the requested services are not included
under the agreement between both parties. Procedures are quite similar to a Request Purchase
Order, but the percentage of 10% retention will be switched to a profit for each additional service.
The collection team will start approaching the finance to collect the total price of the invoices.
In the final stage, Accounting will issue WBS in the SAP system, which links Request
Purchase order and sales order to finalise the formalities and collect the invoice amount. The Sales
Order includes the items, quantities, delivery date and description, and it is made to ensure that
every sales process is documented and properly conducted. All the above procedures are
mandatory to reserve the right of the company.
It was so kind of the general manager who approve my request to intern in their company.
He ensured that I was received well in the company and assigned a respective place to work from.
Before being assigned a place in the organization, I was taken around all departments to familiarize
myself with the company and my fellow workmates. I could grasp a sign of what was happening
in various departments. After the introduction period, I was assigned to the accounting department,
which complements my major. I was assigned different roles in the accounting department every
week I worked for the organization.
Collection Report:
This type of task is basically shows the profits which related to a period of time as well as
the deduction that the company has afforded such as the Saudization violation, late of iqama
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renewal penalty, Municipality violation, etc.. due to non-compliance with the regulations and
clauses of the contracts
Payment Certificates:
Once the agreement is made between the supplier and the company, an advance payment
shall take a place for the supplier to help provide the service or material. Payment Certificates are
usually used in construction projects where all documentation must be verified and approved in
the first stage by the project owner, project manager, architects, and the project engineer in order
to proceed further to get the approval of the contractor as final.
The issuance of the payment certificates can be on a regular basis or after the completion of a
certain stage of the project.
The followings are mandatory to proceed in issuance the certificates:
•
PR
•
PO
•
Invoice
Bank Reconciliation:
it shows the cashflow of the company and gives the ability to detecting any fraud/stealing
case. It also helps to identify any errors in SOA that has been accord.
Petty Cash:
Petty cash is the process which used to pay the tiny daily expenses such as petrol
expenses, consumables, and electrical items.
The person who handles the cash call: cashier and there is a specific amount determined as a
maximum and minimum amount by the finance manager given to him. And the cashier must
make reimbursement by preparing a check to top up the balance once the cash balance reached to
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College of Administration and Finance Sciences
the minimum amount.
Frequently the cashier pays some large amount for emergency expenses and suddenly accidents
which need to take an action immediately.
Furthermore, there are major points must be considered during petty cash process the accountant
need to follow. Since I am a trainee many things I’ve noticed when I was working on petty cash
transactions.
Validating the name of the applicant or recipient, amount of transaction, VAT, and item amount
for billing purposes. It is important to make sure that the date, amount, name of recipient, and
VAT is correct to avoid the mistake in the billing process.
Assign appropriate account expenses based on the transaction that happens in the bill that will be
signed by the manager. The account expenses are mostly petty cash entries that are used for
buying office supplies, lunches, reimbursing purposes, etc.
The approval of will be through the approved matrix for the company to finalize the process and
check out the amount.
All the record and task that were done this month is processed by using the SAP program. SAP
makes the company able to earn more transparency in the accounting transaction and record that
going into the company.
The Skills I Acquired:
During my internship, I gained more knowledge and skills to work as an accountant. I
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learned how to treat the company’s employees with decency and respect, as well as how to assist
them with various duties and offer them practical advice and solutions. Furthermore, I learned how
culture influences how well an organization performs and affects an organization due to
differences in attitudes, beliefs, and practices. Culture is a subject that should be approached with
caution and wisdom. I learned how to build an organization with a positive culture that is
acceptable to everyone, preventing culture from negatively impacting performance. Because of
my internship, I could combine what I had learned in the classroom with what is used in real-world
job settings.
Types of Incentives Offered:
The incentives are very important in certain stages, they’ve offered me whenever I
graduated, they will transfer me to be in accounting department to be part of the team. This kind
of offers motivated me to be productive and efficient in all tasks assigned. It made me feel
appreciated and all efforts I have made were noticed.
Chapter 3: Recommendations
Introduction:
In this chapter, I will give a detailed explanation of the advantages as well as the
disadvantages which I encountered during my training period. I will also provide recommendations
for my college on the areas I think should improve.
Advantages/Strengths:
Some of the advantages that led to completing the training program include a welcoming
working environment. The individuals in the organization were very welcoming and ensured that
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everything I needed was available. They also confirmed that I had a comfortable working space.
The firm avoided singling the interns out. They even included us in the decision-making and
encouraged us to speak our views. It made us feel seen and appreciated, making the interns more
eager to learn. Another advantage that led to successful learning was that we cooperated with our
supervisors and did what they asked us without hesitation. We were also bold enough to ask
questions we did not understand, which levelled up our knowledge. Another advantage of the
training is an improvement in the level of interaction. It is because, coming out of the training, the
students would be able to interact with individuals in a much more professional way. It would give
them even more opportunities in the corporate sector. Another advantage I got from this training
is that I expanded my networks and got to know many individuals who could later help me or
connect me to a potential position in the work industry.
Challenges/ Difficulties:
Despite the advantages, there were some challenges that I faced during the training period,
I’ve felt shyness in the first stage which struggled me to do the assignments in proper way and the
end year closing was one of the difficulties which lead me to feel uncomfortable as the teams are
concentrating to get the year closing done on time. SAP system is difficult to use in the beginning
but fourtin I’ve a qualified supervisors which helped to overcome all the difficulties and challenges
I’ve face during the training period. Because the company also do payment with cash (paper
money), there are some difficulties in validating the payment with the bills that were made. Since
there are sometimes that the cash is not in the right amount because of miscommunication or loss.
There is also some transaction that is recorded temporary in an excel sheet due to some approvals
or missed bills needed to be recorded to SAP work which takes time to finalize before entering
through the system. to overcome these difficulties, I am confirming the difference between amount
of payment made by cash and the recorded bill with the manager to make sure the mistake that
maybe happens. I also trained and did daily practice to get used in merging SAP work with the
excel sheet record
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College of Administration and Finance Sciences
Recommendations to the College:
To achieve a better training program at the college, I recommend the following: make use
of blended learning. It is applicable in most cases where the skills involve physical action. With
this, the learners become more active and aware of what to expect when they go for the training.
Secondly, the college should take the analytics of the learners very seriously. It will give them an
overview of where a student is and whether they are ready to undertake the training program if
they can extend it for a short period to ensure the student is prepared. It will ensure the student is
evident at the training time. Another recommendation is that the college should create learning
paths. It would help the company from which the student will be undertaking the training to
understand the student’s potential. With this, the student will be given tasks up to their level and
will not strain while performing them.
Recommendations to the Company:
The company should also include training in soft skills in their program. It should focus on
more than just the hard skills, even though they are essential in ensuring that everyday workflow
is effective. They should also focus on soft skills because they are necessary for positions such as
those on the management level and the roles that require an individual to interact directly with the
customers (Fullerton & Gaudreault, 2023). The firm should therefore strike a balance between
hard and soft skills. Finally, I recommend that the college involve its students and ask them what
they want to learn. It will ensure everything is transparent, also in the internship placement. It will
ensure that the students will undertake a course of their passion and one they are eager to learn
about. It will provide a smooth learning and training process. Taking this into account, the training
of the students will be much easier and will not result in any inconvenience to either the student,
the college, or the company.
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Conclusion:
The work experience I had enabled me to gain specific skills which I can freely apply in
my area of specialization without any difficulty. However, there are other skills, such as the review
of ledgers, which I have to sharpen. The overall experience was terrific and had a substantial
positive impact on me as an individual. Everything I learned from the organization will be helpful
in my future career. It was a wonderful experience that made me a better individual.
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Campero, S. (2023). Racial disparities in the screening of candidates for software
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