Week 2

 

Firstly, my supervisor had assigned me to sort out the invoice that was compiled for a year in 2014 from the file based on the name of the suppliers showed in the SQL accounting software. These invoices was received when the company purchase the fixed asset such as computer, furniture, office equipment for our office and factory. The main objective of helping my colleague to sort out these invoices is because they will need these invoices to close the account for the year 2014 and also prepare for the income statement and balance sheet too. Then, my colleague will teach me how to close the account for the first time. After I have understand the procedures of closing the account, then we will do it together so that we can finish our work as soon as possible to meet the deadlines. One of the problem that I faced in sorting out the invoices is I couldn't find some invoices. Therefore, I decided to ask my colleague and she told me that some invoices are actually attached with the staff's claim form. Furthermore, they also told me that our company will help the staff to pay off 70% of the total amount if the staffs want to buy a laptop. However, the staff can only claim the 70% for every three years only. Before the internship, I does not know how to take the initiative to ask for someone whenever I faced a problem. Therefore, I hope that I can improve myself more by attending some motivation seminars so that I can become a successful person in the future. 

 

 

 

 

 

 

After that, my supervisor had also assigned me to read through some notes which my colleague went to attend a course regarding about Goods and Service Tax (GST) on 24th November 2014 in Armada Hotel. Then by using the knowledge that I understand based on the notes, I will need to prepare a presentation slides regarding about the summary of GST based on our company which is a manufacturing company. Besides, I had also take an intiative to do some additional research online too. The main objective of preparing this presentation slides is because we as an accounting and finance department need to ensure that the employees especially the sales department will understand what is GST and how it may affect our manufacturing company and the penalty which we need to pay if we did not register for GST before 31st December 2014. However, if my colleagues does not fully understand how GST will affect our manufacturing company, they will not actually know that there are some supplies such as donations and loan repayments are not subjected to GST.  After I had finished preparing the presentation slides, I will then need to discuss with my supervisor to reconfirm which points is neccessary to include and the points that I wrote is correct. At the end of January, I will represent my department to do a 15 minutes presentation in a weekly meeting and answer all the questions that my colleagues asked. However, I had also faced some problems on presenting the presentation slides. My supervisor had told me that my way of presenting the slides is not attractive as I did not add any animations or graphics on the slides. Therefore, I need to redo all again before I can present to my colleagues and directors in the meeting. On that day of presentation, I had also used some non verbal communication such as the body language to make the presentation more effective and send a stronger message to my colleagues and directors. I had learnt the strategy of mind map since I was young in a holiday camp. However, I had only apply the mind map strategy on my studies. Hence, in the process of preparing the slides, I had learnt how to make use of a mind map to present all the detail information effectively. In the future, I can apply this strategy the I had learnt in this internship into my career.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Moreover, I was also assigned to key in the export schedule data into Microsoft Excel. In addition, my colleague had also taught me on the procedures on keying the data into the computer system for the first time. Hence, I will need to key in the data such as the product exported, quantity, invoice number and amount, exchange rate and countries to which products are exported based on the invoice, custom form No 2 - K2 and bill of lading. By keying all these data into Microsoft Excel, our company will eventually know whether our company's exportation is more or less than last year exportation. For example, if our company's exportation amount for last year is RM100,000 and for this year is RM250,000. In short, it means that our company's exportation amount is more than 50% and our company will able to get a fixed percentage of refund from the government. However, I had also faced a problem when I keying these data because I always calculate wrongly for the currency conversion to foreign countries with the given exchange rate although my colleague had taught me. Therefore, I had asked my colleague to teach me again on how to convert the currencies and do more practice so that I will be familiarize on the calculations for currency conversion. Before this internship, I only have the basic knowledge on using Microsoft Excel to do my calculations in assignments. However, I had learnt how to use Microsoft Excel to calculate the Net Present Value (NPV), standard deviation and interest payment over time. Hence, I appreciate that I have the opportunity to learn an extra knowlege on Microsoft Excel as I can help my company to create an income statement, balance sheet and cash flow statements in the future.