PHINMA ARAULLO UNIVERSITY

PRACTICUM REPORT
at

F.G. Valino Accounting and Tax

Advisors

In Partial Fulfilment
of the requirements for
Bachelor of Science in Accountancy

Submitted by:
Daryl Mae S. Grospe

Submitted to:
Mr. Kevin Roy P. Corpuz, CPA
Practicum Adviser
 Table of Contents

Chapter One:
 Acknowledgment
 Company’s Historical Background
 Company’s Mission/Vision Statement
 Company’s Organizational Chart

Chapter Two:
 Daily Task Report
 Weekly Task Report

Chapter Three:
 Narrative Report
 Case Study

Chapter Four: Pertinent Documents:

1. Endorsement Letter
2. Information Sheet
3. Resume
4. Parental Consent
5. Training Agreement and Liability Waiver
6. Daily Time Record
7. Performance Rating Report
8. Certificate of Completion
9. Student Apprentice in Action [4 Pictures]
 CHAPTER ONE

Acknowledgment

I would like to thank all individuals who assisted and

help us in this On-The-Job Training. It would not have been
possible that we can do our tasks without our supervisors
where we assigned to.
With deepest gratitude and appreciation to the people
who have been our guidance for the successful of this
training. I would like to show how grateful I am because of
F.G Valino Accounting and Tax Advisors for the warm welcome
to us. To the owner of F.G Valino Accounting and Tax Advisors,
Mr. Freddie G. Valino, to my Training Supervisor, Ms. Arlene
Garcia and to all the staff of the F.G. Valino Accounting
Office, I am grateful for having them as part of my On-The-
Job Training. I would also like to take this opportunity to
thank them because they taught us how to be responsible on
our obligations and duty during our stay in the F.G. Valino
Accounting Office.
To my co-interns, I thank you for being there whenever
I need your help in doing my tasks when I don’t even know how
to do it or finish it. Thank you for giving me support
whenever I need you.
To our OJT coordinator, Mr. Kevin Roy P. Corpuz and Dean
Emerita J. Modesto, our dean of College of Management and
Accountancy for their trust for letting us to take our OJT at
F.G. Valino Accounting and Tax Advisors and also for their
guidance and help.
Above all, thank you to our Almighty God for His love
and guidance during our stay at F.G. Valino Accounting Office.

Company’s Historical Background

The F.G. Valino Accounting Office is a firm committed to

providing high quality services in the field of audit,
taxation, accounting and management consultancy. Our practice
is strongly founded on a philosophy of providing the most
reliable, effective and efficient service that delivers value
to our CLIENTS in Central and Northern Luzon.

F.G. Valino Accounting Office was established in

Cabanatuan City, Nueva Ecija in 2008 and was registered with
the Department of Trade and Industry as sole proprietorship
firm.

The FGV was formerly SFAS Accounting Office managed by

its partners Mr. Freddie G. Valino & Mr. Shelwin Jalova, the
managing CPA during 2003. Upon the request of the one partner
Mr. Jalova to dissolve the partnership due to the plan of the
said partner to go into abroad to work there, the both partner
then decided to dissolved the SFAS Accounting Office.

The partner Mr. FGV decided to continue its operation to

serve to its clients in Central Luzon. He decided to register
his accounting firm by its name, the FG Valino Accounting and
Tax Advisors.
 FGV is now serving its clients in Region III and some
part outside the region including Metro Manila and some part
in Izabela Province for its being well known by providing
clients an excellent service when it comes to Financial Audit
& Tax Management.

At present, the FGV with its goal of becoming the number

1 Accounting Service provider in the entire Central and
Northern Luzon specializing the business services when it
comes to the following:

 TAX MANAGEMENT
 FINANCIAL AUDIT
 COMPLIANCE AUDIT
 ACCOUNTING & BOOKKEEPING
 MANAGEMENT CONSULTANCY, and
 BUSINESS REGISTRATION ASSISTANCE

Company’s Mission/Vision Statement

Mission
To provide high quality service in the field of audit,
accounting and management services to small and medium scale
enterprises, professionals and individual clients with great
satisfactions.
Vision
To become the region’s most successful Accounting &
Management Consultancy Firm, a strong company capable of
helping uplift the standard of living of the greater Filipino
Accountants by providing excellent service to its clients.

Company’s Organizational Chart

FREDDIE G. VALINO
Manager/Department
Head

ANGELUS EDWARD JOSE,

Managing Consultant CPA
Accountant

TAX COMPLIANCE & AUDIT & BUSINESS ADVISORY

BOOKKEEPING DEPARTMENT DEPARTMENT

DIVINA MAY D. PADILLA AURORA J. VALINO

Sr. Auditor/Tax Admin & Finance
Compliance Officer/Sr. Auditor

AIREEN C. GONZALES ARLENE S. GARCIA

Senior Accountant Junior Auditor
Officer

TRAINEE TRAINEE TRAINEE

 CHAPTER TWO
Weekly Task Report

Student Period April 2 to April

Name: Daryl Mae S. Grospe Covered: 7, 2018
F.G. Valino
Course & Partner Accounting and
Section: 4BSA Company: Tax Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
HOURS
DAYS RESPONSIBILITES
RENDERED
April 2,
ORIENTATION 8 hours
Monday
 Familiarization of different
April 3, BIR forms
8 hours
Tuesday  Making summary of Creditable
Withholding tax
April 4, Preparation of Income Tax Returns 8 hours
Wednesday
Preparation of Income Tax
April 5, Quarterly Schedule, VAT Quarterly 8 hours
Thursday Schedule, and Financial Statements

April 6, Continuation of preparation of

8 hours
Friday Income Tax Returns

April 7, Continuation of preparation of

8 hours
Saturday Income Tax Returns

TOTAL NUMBER OF HOURS: 48 hours

Noted by:

Supervisor
 Weekly Task Report

Student Period April 9 to April

Name: Daryl Mae S. Grospe Covered: 14, 2018
F.G. Valino
Course & Partner Accounting and
Section: 4BSA Company: Tax Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED
 Filing of SSS, Philhealth,
April 9, and Pag-ibig Documents
8 hours
Monday  Preparation of Income Tax
Returns (Individual)
 Went to BPI for deposit
April 10,
Tuesday  Making a comparative Balance 8 hours
Sheet and Income Statement
April 11,  Went to BIR for Receiving 8 hours
Wednesday Income Tax Returns

April 12, Preparation of Income Tax Returns

8 hours
Thursday (Corporation)

April 13, Sorting documents of an Individual

8 hours
Friday clients and Corporation

 Continuation of Income Tax

April 14, Returns
9 hours
Saturday  Making a comparative Balance
Sheet and Income Statement

TOTAL NUMBER OF HOURS: 49 hours

Noted by:

Supervisor
 Weekly Task Report

Student Period April 16 to April

Name: Daryl Mae S. Grospe Covered: 20, 2018
F.G. Valino
Course & Partner Accounting and Tax
Section: 4BSA Company: Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED

April 16,  Went to BIR for Receiving 8 hours and

Monday  Sorting some documents 40 minutes

April 17,  Listing for audit findings

8 hours
Tuesday  Checking of ITR

April 18, Encoding and preparing Income Tax

8 hours
Wednesday Returns of a corporation

 Sorting and photocopying of

April 19,
documents from SEC 9 hours
Thursday
 Idle time

April 20,
Went to SEC for filing 9 hours
Friday

42 hours and
TOTAL NUMBER OF HOURS:
40 minutes
Noted by:

Supervisor
 Weekly Task Report

Student Daryl Mae S. Period April 23 to April

Name: Grospe Covered: 26, 2018
F.G. Valino
Course & Partner Accounting and Tax
Section: 4BSA Company: Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED
 Arrange files alphabetically
April 23, 8 hours and
Monday  Audited vouchers of a 30 minutes
certain company
 Continuation of audited
April 24,
vouchers 9 hours
Tuesday
 Sorting some documents

April 25, Typing for SSS information of 8 hours and

Wednesday different clients 30 minutes

April 26, Encoding of BIR Forms for

8 hours
Thursday different clients

TOTAL NUMBER OF HOURS: 34 hours

Noted by:

Supervisor
 Weekly Task Report

Student Period April 30 to May

Name: Daryl Mae S. Grospe Covered: 4, 2018
F.G. Valino
Course & Partner Accounting and
Section: 4BSA Company: Tax Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED
 Sorting of documents of
April 30, different clients
8 hours
Monday  Arranging information of the
clients

May 2, Filing SSS, Philhealth and Pag-ibig

9 hours
Wednesday documents of different firms

May 3, Printing BIR Forms of different

8 hours
Thursday clients

 Filing and arranging different

May 4,
forms 8 hours
Friday
 Printing documents

TOTAL NUMBER OF HOURS: 33 hours

Noted by:

Supervisor
 Weekly Task Report

Student Period May 7 to May 11,

Name: Daryl Mae S. Grospe Covered: 2018
F.G. Valino
Course & Partner Accounting and
Section: 4BSA Company: Tax Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED

8 hours
May 7, Went to different firm for giving
and 20
Monday some documents
minutes

May 8,
Encoding and printing documents 8 hours
Tuesday

May 9, Filing SSS, Philhealth and Pag-ibig

9 hours
Wednesday documemts

May 10,
Audited vouchers 9 hours
Thursday

May 11,  Went to BPI for deposit

8 hours
Friday  Encoding BIR Forms

42 hours and 20
TOTAL NUMBER OF HOURS:
minutes
Noted by:

Supervisor
 Weekly Task Report

Student Period May 15 to May

Name: Daryl Mae S. Grospe Covered: 18, 2018
F.G. Valino
Course & Partner Accounting and
Section: 4BSA Company: Tax Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED

May 15,
Preparation of Worksheet 9 hours
Tuesday

 Continuation of preparation of
May 16,
Worksheet 8 hours
Wednesday
 Sorting some documents

May 17, Continuation of preparation of

9 hours
Thursday Worksheet

May 18,
Went to Insular Life for payment 8 hours
Friday

TOTAL NUMBER OF HOURS: 34 hours

Noted by:

Supervisor
 Weekly Task Report

Student Period May 21 to May 25,

Name: Daryl Mae S. Grospe Covered: 2018
F.G. Valino
Course & Partner Accounting and Tax
Section: 4BSA Company: Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED
 Filing SSS, Philhealth and
May 21, Pag-ibig of different clients
8 hours
Monday  Encoding different
information of clients

May 22, Photocopying of documents and

8 hours
Tuesday sorting it

May 23,
Audited vouchers 8 hours
Wednesday

May 24, Continuation of Audited vouchers

8 hours
Thursday and bank statement

May 25, Printing and photocopying of BIR

8 hours
Friday Forms

TOTAL NUMBER OF HOURS: 40 hours

Noted by:

Supervisor
 Weekly Task Report

Student Period
Name: Daryl Mae S. Grospe Covered: May 28, 2018
F.G. Valino
Course & Partner Accounting and
Section: 4BSA Company: Tax Advisors

NUMBER OF
SUMMARY OF WORK, DUTIES AND
DAYS HOURS
RESPONSIBILITES
RENDERED

May 28,  Went to LBC to send documents

9 hours
Monday  Filing of some documents

TOTAL NUMBER OF HOURS: 9 hours

Noted by:

Supervisor
 CHAPTER THREE

Narrative Report
On-the-job-training or OJT is one of the training
methods organized for every student to be able for them to
know what will the real industry would be. OJT will generally
help them to increase their knowledge and skills essential
for the effective and efficient, full and adequate
performance on the job.

What I have learned from the experience?

I learned that being an OJT trainee, you have you be

very responsible on everything you are assigned to. I’m so
grateful that I was given the chance to be trained on this
field, I learned from the experience to work flexible under
pressure, I learned how to prepare Income Tax Return’s or
ITR’s, Financial Statements of every individuals and
corporations, and I learned how to work slowly but surely for
everything I’m going to do and I also learned how to trace
and recognize errors for every documents I’ve checked.

I learned how to deal with other people with different

attitudes and I learned how to manage time efficiently and
effectively when there’s work that are assigned to me to do
and finish it on time.

My experiences with the people around me.

For almost two months, I enjoyed staying at F.G. Valino

Accounting Office because I’ve experienced so much
appreciation, care and love from those staffs and employees
and from my co-interns. I admit, at first I feel so
uncomfortable and shy to the people around me but as time
goes by, I’m enjoying working with them because they are so
kind and jolly. Even we are so busy to our assigned works, we
are still committed to each other and that’s what I’ve
experienced to those people who surrounded by me.

The most memorable event during my practicum.

For me, my last day at F.G. Valino Accounting and Tax

Advisors was the most memorable experienced that I’ve
experienced during my practicum, because we all hang out
together with our supervisors, Department Head with their
partner company staffs and my co-interns. It was a lot of fun
being with them, we talked a lot and we laugh together. They
shared so much knowledge to us that day.

What I recommend for the improvement of the Practicum Program.

I just want to recommend for the school to let the

student enter into bigger companies because it will help them
to improve their skills and knowledge and to gain more
experience in much larger working environment.

My advice to those who will take their practicum in the near

future.

For those who will take their practicum in the near

future, my advice to them is just be confident enough and
always wear your smile when you become a trainee someday. Be
humble and respectful to your supervisors and to other people
that you will encounter. Learn to communicate more to the
people that surrounds you. Learn to share knowledge and ideas
to everyone for it will be the source for all to be
successful.

Case Study

Statement of the Problems

According to my own observations, I think the problem is
that those documents that are given to the supervisors are
not sorted properly so that when someone need that document,
they cannot find it. Also, they are complaining when the
trainees are doing nothing because there is no work assigned
to them that they are going to work on with.

Recommendations

I suggest that the people are working efficiently and

effectively when it comes on their own tasks. It is better
that the people would be in proper coordination and
cooperation on everything.

I recommend that they should be more responsible and

leave every document properly so that when someone needs it,
it is very easy for them to find it.
CHAPTER FOUR
 DARYL MAE S. GROSPE
On-the-Job Training (OJT) Training Plan

Section 1: Contact and OJT Information

Complete the contact information for the Employer and the Trainee.

EMPLOYER NAME: FREDDIE G. VALINO CONTACT PERSON: ARLENE S. GARCIA TELEPHONE #: 09773652695

TRAINEE NAME: DARYL MAE S. GROSPE EMAIL: daryl.grospe26@gmail.com TELEPHONE #: 09368723552

BEGINNING DATE: April 2, 2018 END DATE: May 28, 2018 TOTAL TRAINING HOURS: 341
hours

Section 2: Occupational Information

Complete the occupational information for the Trainee’s skill level.

JOB TITLE: HOURS/WEEK:

JOB DESCRIPTION:

Section 3: Training Information

Complete the training outline and estimated time for each skill.

STARTING CAPABILITY (DATE ESTIMATED END

MEASURED) TRAINING CAPABILITY
Skills to be learned HOURS: (DATE
MEASURED)
Accounting
Beginning:
Beginning: Intermediate: Intermediate:
Prepare and verify daily reports Skilled: Skilled:
Beginning:
Prepare daily income/sales and prepare daily Beginning: Intermediate: Intermediate:
journal entry Skilled: Skilled:
Beginning:
Beginning: Intermediate: Intermediate:
Reconcile bank account Skilled: Skilled:
 Beginning:
Beginning: Intermediate: Intermediate:
Compile monthly reports Skilled: Skilled:
Beginning:
Beginning: Intermediate: Intermediate:
Prepare monthly balance sheet schedules Skilled: Skilled:
Beginning:
Verifying the accuracy of invoices and other Beginning: Intermediate: Intermediate:
accounting documents or records. Skilled: Skilled:
Update and maintain accounting journals,
ledgers and other records detailing financial
business transactions (e.g., disbursements,
expense vouchers, receipts, accounts Beginning:
payable). Enters data into computer system Beginning: Intermediate: Intermediate:
using defined computer programs (SAP) Skilled: Skilled:
Beginning:
Compile data and prepare a variety of Beginning: Intermediate: Intermediate:
reports. Skilled: Skilled:
Reconciles records with internal company Beginning:
employees and management, or external Beginning: Intermediate: Intermediate:
vendors or customers. Skilled: Skilled:
Beginning:
Recommends actions to resolve Beginning: Intermediate: Intermediate:
discrepancies. Skilled: Skilled:
Beginning:
Beginning: Intermediate: Intermediate:
Investigates questionable data. Skilled: Skilled:
Audit and Assurance
Beginning:
Assisting with the completion of audit Beginning: Intermediate: Intermediate:
engagements. Skilled: Skilled:
Beginning:
Learning a thorough knowledge of the Beginning: Intermediate: Intermediate:
Client’s business and related needs. Skilled: Skilled:
Preparing financial statements, and Beginning:
management letters in accordance with Beginning: Intermediate: Intermediate:
professional and Firm standards. Skilled: Skilled:
Tax

Beginning:
Beginning: Intermediate: Intermediate:
Prepare estimated income tax payments. Skilled: Skilled:

Beginning: Intermediate: Beginning:

Prepare various income tax returns. Skilled: Intermediate:
 Skilled:

Beginning:
Prepare various personal property tax Beginning: Intermediate: Intermediate:
returns. Skilled: Skilled:
Beginning:
Prepare/Review other various tax filings: Beginning: Intermediate: Intermediate:
Annual reports, etc. Skilled: Skilled:
Beginning:
Assists in maintaining company's tax Beginning: Intermediate: Intermediate:
preparation system. Skilled: Skilled:
Social and Communication Skills

Beginning:
Beginning: Intermediate: Intermediate:
Working in a work environment Skilled: Skilled:
Beginning:
Beginning: Intermediate: Intermediate:
Client Handling (both internal and external) Skilled: Skilled:
Beginning:
Communicate with managers and others working
Beginning: Intermediate: Intermediate:
on the systems problems
Skilled: Skilled:
Beginning:
Beginning: Intermediate: Intermediate:
Written communication Skilled: Skilled:
Beginning:
Beginning: Intermediate: Intermediate:
Oral communication Skilled: Skilled:

Section 5: Signatures
All parties agree to provide or obtain training for the skills outlined in this Training Plan.

Authorized Signatures
DATE:

TRAINEE SIGNATURE:

TYPE/PRINT NAME: DARYL MAE S. GROSPE

DATE: DATE:
 EMPLOYER SIGNATURE: OJT PROVIDER SIGNATURE:

TYPE/PRINT NAME: FREDDIE G. VALINO TYPE/PRINT NAME: ARLENE S. GARCIA

TITLE: GENERAL MANAGER/OWNER TITLE: JUNIOR AUDITOR

TRAINING PLAN INFORMATION AND INSTRUCTIONS

Training Plans are used to outline the specific skill requirements for on-the-job training (OJT).
They are also used as the assessment tool to document which skills the Trainee lacks at the start
of the training and to measure skill attainment during the course of the training.

Job Description:
A job description may be obtained from the Employer or the OJT Provider may assist the
employer in writing a job description, thus providing a “value-added” for the employer

Skill Requirements:
List the skills needed to perform the job to the standards specified by the Employer. Record
skills as specifically and briefly as possible.

Trainee’s Starting Capability:

Used to assess the trainee’s skill level near the beginning of the training period and to document
skill deficiencies which will be addressed through training. The skills gap can be addressed in the
list of “Skills To Be Learned”. The “Starting” and “Ending Capability” scores are based upon an
interview with the Trainee’s supervisor or by utilizing another skill assessment method used by
the employer

Trainee’s Ending Capability:

Record the date on which the “Ending Capability” assessment is made and the skill level which
has been obtained using the following rating scale:

1. Beginning - Can do only simple parts of the task.

2. Intermediate - Can do most parts of the task.
3. Skilled – Meets the Employer’s standard for the task.
Training Length:
a) The OJT Provider determines the job title for the position to be trained for.
b) The OJT Provider considers the trainee’s past work experience, knowledge, and skills
gap to assist in determining the length of training.
c) An OJT contract must be limited to the period of time required for a participant to
become proficient in the occupation for which the training is being provided. In
determining the appropriate length of the contract, consideration should be given to
the skill requirements of the occupation, the academic and occupational skill level of the
participant, prior work experience, and the participant's individual employment plan.
d) It may be necessary to deviate from the training schedule, depending on the trainee’s
ability to gain and retain knowledge of the various tasks within the occupation. If there
is disruption of the planned training period through no fault of the trainee or the
employer, provide modifications in writing with the Training Plan Modification
Template.
 PERFORMANCE RATING REPORT
FOR STUDENT APPRENTICE

Name: Daryl Mae S. Grospe Course/Year: 4BSA

Evaluation Period: From: April 2,2018 To: May 28, 2018 Total Hours: 341
F.G. Valino Accounting and Tax
Company: Advisors Department: Audit & Tax Advisory Department
Name of Evaluator: Ms. Arlene S. Garcia Position of Evaluator: Junior Auditor

The Program expects each Trainee to demonstrate at all times desirable qualities and traits as
indicated in the Performance Rating Report. Please rate the Trainee according to the scale
indicated below. A total score of 75 or better is considered passing.

RATING: 95 - 100 OUTSTANDING 75 - 79 FAIR

85 - 94 VERY SATISFACTORY 74 - BELOW POOR
80 - 84 SATISFACTORY

APPRAISAL FACTORS: RATINGS

1. QUALITY OF WORK
Ability to work with thoroughness

2. QUANTITY OF WORK
Individual productivity

3. DEPENDABILITY
Ability to perform and finish work as instructed and when needed

4. COOPERATION
Ability to work harmoniously with others

5. PERSONALITY
 Ability to deal and relate with others with courtesy, and when needed

6. ATTENDANCE
Regularity and punctuality in office attendance.

7. PERSONAL APPEARANCE
Comes to work in proper attire, good grooming and hygiene.

8. COMMUNICATION SKILLS
Ability to exchange ideas and understand others' perspectives, and
are able to communicate with others.

TOTAL RATING:

Other comments about the Trainee:

Signature of Evaluator: Date:

IMPORTANT-All corrections must be countersigned by the evaluator. As a control measure, the Evaluator must sign every
page of this form. It should be returned through the trainee in a sealed short brown envelope. Upon sealing the envelope,
the evaluator must sign over the flap.
Student Appreciation in Action