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I. IntroductionInternship ProgramThe real world is a very cruel place to those who arent prepared. Universities and colleges provide us sufficient knowledge for us to be prepared for the real world. But sometimes, knowledge isnt enough to endure the difficulties of the real world. Two people with the same knowledge dont mean that their performance is the same. The difference lies on experience. Lack of experience frequently leads to under-performance or worse, failure. That is why aside for the lessons and lectures that were learned inside the class, universities and colleges give us the opportunity to experience the real world on hand and personal. This all is through the means of internship. Internship is a job training which provides real working experience to those looking to gain relevant knowledge and skills related to the particular field they would like to enter. Internship is usually done in short duration which focuses on getting some training and taking whats learned in the class and applying it to the real world. Interns generally have a supervisor who assigns specific task and evaluates the interns overall performance. Many college students do internship to gain relevant experience in a particular career field as well as to get exposure to determine if they have a genuine interest in the field. Internship is an excellent way to begin building those all important connections that are invaluable in developing and maintaining a strong professional network for the future.Internship isnt only offered to students. Young adults and out of school youths can also apply for internship.Objectives of the Internship ProgramThe objective of the internship program is aligned to their respective courses (BS Accountancy) and should help the student to: Enhance their knowledge and skills acquired in the classroom in order to become more responsive to the demands of Accountancy Profession. Develop the value of professionalism, love of work and commitment to people they serve. Apply the relevant theories of the Accountancy profession and Code of Ethics into practice. Feel and experience the actual world of work in the corporate world.Importance of the Internship Program It is an avenue for applying, enriching and enhancing the acquired knowledge in the school in their particular field of endeavor. It is a way of changing the students outlook in life through exposure in the performance of actual work relevant to IT that may serve as a stepping-stone for future career. It develops interpersonal relationship with other employees within the cooperating agency.Time RequirementsThe students are required to undergo 240 hours on On-the-job training as required by the Dr. Gloria D. Lacson Foundation Colleges Incorporated. The student must have a Daily Time Record (DTR) which the students fill-out, and should be used for reference at the time of evaluation.

II. Background of the FirmHistory of Alalay Sa Kaunlaran IncorporatedASKI the organization was born in October 1986 in the year of the EDSA People Power Revolution when social issues like poverty and unemployment were widely felt. A group of business leaders in Nueva Ecija, out of Christian zeal and compassion, joined hands to think of a positive response to the issues and help deliver an economic turnaround - micro-enterprise.ASKI was officially registered with the Securities and Exchange Commission (SEC) on March 23, 1987 as a non-stock, non-profit organization committed to the promotion and development of micro and small-to-medium enterprises and the delivery of social services. It formally launched operations on July 1, 1987. From its starting fund of 460 thousand peso, ASKI's investment has grown to a total portfolio of 76 million peso in 2004. From a small playing field in Cabanatuan City, ASKI has branched out into other provinces in Central Luzon and adjacent Regions I and II. From a handful of savings and loan services, ASKI's lines have diversified into a capital build-up and other cooperating arrangements.They chose to start small and right at home in Cabanatuan City. With a small capital of investment of Php 460,000 provided by the Maranatha Trust of Australia, the group reached out to small entrepreneurs, to the street players, to the movers of the micro economy that had no access to bigger funding institutions. Challenged by their mission and the efforts of other development NGOs, the founders and managers dug deep and wide on their routes of service. Slowly, the organization grew into what it is today, a byword in eco-social development in Central Luzon and nearby regions - Alalay sa Kaunlaran - a partner in development.ASKI attributes its success to a values-oriented philosophy on entrepreneurial lending, believing that no Return on Equity can be realized without an informed, responsible and conscientious clientele. For ASKI's loan portfolio in complemented by support services like values training, social preparation, community organizing, institution building and financial management. ASKI today goes on, inspired by the confidence that the strength of any country lies in a strong middle class that can only come about by putting into the hands of the micro entrepreneur what he needs to become a macro.The Company Logo Figure 1. ASKI LogoASKI's logo immediately tells us that Christian values animate the organization: the world appears to be held by two encompassing hands and overlaid by a cross. In ASKI's own words: "two open palms anchoring a globe and a tall cross standing in the middle of them" inspired by ASKI's ambition to reach out the world while tugging the sleeve, or conscience, of the world so that its rich nations could aid poor in the Philippines.Putting to heart the biblical passage, "Without a vision, man shall perish," (Proverbs 29:18), the members of the initially thought of their work as a way of providing the conditions for indigent people to attain dignity through the provision of food on their table and shelter above their head. They inteded to do these by providing initial capital and training the poor to be entrepreneurs, so that small the initial capital may be, with work their income would grow.The Vision statementA global development organization committed to Holistic transformationThe Mission statementTo promote socio-economic development through client-focused financial and non-financial services anchored on Christian principles.Core ValuesGod-centerednessStewardshipCommitted to serve the needy TransformationHumilityIntegrityRespectThe Organizational StructureFigure 2. ASKI Organizational StructureThe Alalay Sa Kaunlaran Inc. use the divisional model of organizational structure. It divided its products and services to different division. This provides them a greater stability and growth for the firm. The services offered by ASKI are the following:ASKI MicrofinanceASKI provides credit to those who does not have access to financial institutions, establishing market links and networks with private and public sectors.We change the image of the poor, being viewed as a male farmer needing subsidized agricultural credit; we came to see them as generally female micro-entrepreneurs with no collateral to pledge but with a business world to overcome with the help of micro credit. ASKI is gender sensitive, giving opportunities for both the male and female capitalistsiSynergies, IncorporatedAt 25, ASKI has embraced technological breaktrhoughs in order to service its clients more efficiently. To further accomodate advancements in technology, it established its 8th business unit, the iSynergies, Inc. It started as a department handling the Management Information System of ASKI, but with the growing demand in practical technological applications in microfinance and the income generating potential of this department, ASKI decided to register it as an independent business unit on October 2012.ASKI Mutual Benefit Association IncASKI Mutual Benefit Association Inc., the first business unit emanating from ASKI, is a non-stock, non-profit organization duly registered with the Securities and Exchange Commission on June 21, 2006 and was issued a license to operate by the Insurance Commission (IC) on October 5, 2006. Being the first business unit that serves as ASKIs micro-insurance arm, it aims to promote the welfare of the poor and extend financial assistance to its members in the form of death benefits, medical subsidy, pension and loan redemption assistance. ASKI MBA offers an affordable basic life insurance to its members covering its principal member for Php120,000, his/her legal spouse for Php20,000 and up to three of his/her legitimate children under 21 years old for Php10,000.ASKI FoundationASKI's outreach and ministry started almost simultaneously with its Microfinance Institution (MFI) back in 1987. Informally, together with its MFI outreach, ASKI has been reaching out to its clients in need of assistance not only financially, but in socially and spiritually as well, especially in times of dire necessity.Seeing the need for an institution to focus on ministry, ASKI decided to register ASKI Foundation as an accredited organization with SEC whose thrusts is to help the needy in Luzon. It was officially registered in June 23, 2008. ASKI Foundation, Inc. as the carrying arm of ASKI on so-called "corporate social responsibility" (CSR) caters to all of ASKI's clients and staff as well. It utilizes public and private partnerships (PPP) as one of the main effective strategies in assisting target beneficiaries. The main assistance to target families, groups and communities include Education, Health, Environment and Community Development ServicesASKI MultiPurpose CooperativeASKI MultiPurpose Cooperative (AMPC) provides marketing venues to Micro entrepreneurs and commodities at reasonable price through its One-Stop-Shops.It was registered with Cooperative Development Authority (CDA) on November 14, 2008 under the laws of the Philippines, particularly R.A 6938.Established as the trading arm of ASKI, the AMPC links clients' products to a wider local and global market through a wide network of trading partners.ASKI Skills and Knowledge InstituteThe ASKI Skills and Knowledge Institute, Inc. was established on June 11, 2010 as a non-stock, not-for profit training institute, registered under the Securities and Exchange Commission. It serves as the capacity building arm of the ASKI group of institutions and business units.ASKI Global LimitedEstablished in 5 July 2010, ASKI Global Limited is a non-stock, non-profit organization that recognizes the presence of migrant workers in Singapore, which totals up to 180,000 in 2012. The organization is wholly committed to helping the overseas foreign worker (OFW) communities be economically and socially developed by harnessing on their potentials through courses offered by the organization, thus helping build small and medium enterprises (SMEs) as a result of change in their mind-set and remittance behaviors.

Alalay Holding and Trading CorporationAlalay Holding and Trading Corporation or AHTC was registered to Security and Exchange Commission on November 24, 2011. AHTC is the 7th business unit established under Alalay Sa Kaunlaran Incorporated (ASKI), Inc. mutually reinforcing institutions. Classified as profit organization - AHTC earnings shall be utilized to further fulfill social development programs and other services of ASKI. AHTC offers an array of services from wholesale to retails business transactions. Programs and services include water refilling station, non-life insurance, and group accident insurance. It is also the goal of this unit to serve as hub for bulk purchasing of goods and commodities.ASKI Emplyees Credit CooperativeASKI Employees Credit Cooperative is a cooperative owned and managed by ASKI employees who have voluntarily joined together to achieve a common bond of interest.ASKI School of KnowledgeASKI School of Knowledge Incorporated's primary purpose is to provide formal learning education that will help develop the academic and social foundation of children.

III. Location, layout, facilities and equipmentBrief discussion of the Placement of WorkThe interns worked at Alalay Sa Kaunlaran Inc.. They were separated between two different offices. Mr. Mark Christian A. Bombita was placed in the iSynergies office which is one of the business unit of ASKI. It is under the supervision of Mrs. Anna Liza L. Engracia, the Manager. Mr. Edgardo Sicorsicon on the other hand was situated at the Executive Directors office, one of the departments under the main branch. It is under the supervision of Mr. Rolando B. Victoria, the Executive Director of the Alalay Sa Kaunlaran Inc.. Its a norm in ASKI to have interns in their firm regularly. This ensures that the interns will have an on hand experience of the professional working environment. These will help them build self-esteem, and provides proper working etiquette. Location of the companyFigure 3. Map location of ASKIOffice FacilitiesThe facilities are the main operational area where most of the business and important activities are situated. The ASKIs office facilities provides the employees a healthy and organize working environment. The main-building of ASKI also contained the main offices of its business units. Office Equipment

Table 1. Equipment of iSynergiesEquipmentQuantityPurpose/Use

Desktop Computer3Used to store, retrieve, and process data; like typing and processing transactions

Cabinet4Used to keep important files and documents

Printer2Used to print files, EWT, Disbursement vouchers and remittances

Server1Used for connecting many different computers within or outside the main building

Telephone1Used for communication to other departments; more importantly to their clients

The Executive Directors Office (EDO) is one of the important departments of Microfinance Institute of Alalay Sa Kaunlaran (ASKI), Inc. for being the head and center of the said institute. This office composed the Executive Director, Executive Secretary, Assistant Executive Secretary and Administrative Secretary. The EDO is the office of the Executive Director of ASKI, which always give very inspiring messages and advises, sharing his own experiences on how to deal with their work, how to network with their partners and clients locally and abroad, and how to become a future leader of their company to help its lower-positioned employees to do their work with their best and beating their own limits for them to become the best company in their line. This office accepts or rejects the proposed projects of each department of the company and also the loan products of the branches. This office composed of three areas; the Board Room where all important meetings like board meeting, management meetings and department meeting are held. Also if the company has their visitors, they accommodate them and bring to this office for them to entertain it and talk about their businesses. Second is the Office of the Executive Directors, where we can find the Executive Director and the Board of Trustees if they are in the company. And the third one is the office where we can see the Executive Secretary, Assistant Executive Secretary and Administrative Secretary and performed their duties and task. This office has its own equipments for them to used and helps them to communicate and performed their task easily. The office has a desktop computer, three netbooks, a printer, an air-condition unit, an electric fan, and two telephones.

IV. TrainingHours WorkedThe students are required to undergo 240 hours on On-the-job training as required by the Dr. Gloria D. Lacson Foundation Colleges Incorporated. Mr. Mark Christian A. Bombita and Mr. Edgardo Sicorsicon rendered a total of 240 hours from April 20, 2015 until June 4, 2015. The interns followed the office hours that the company is implementing. The office hours is composed of an hour of Devotion from 8:00 am to 9:00 am and seven hours of operational activities from 9:00 am to 5:00 pm with lunch break from Monday to Friday. The Devotion is an everyday activity which is composed of worships and talks. It provides the employees with spiritual enhancement to boost their morale on their everyday activities.Responsibilities AssumedMr. Mark Christian A. Bombita was positioned in the iSynergies Inc, a business unit of Alalay Sa Kaunlaran Inc.. He was placed under the supervision of Mrs. Anna Liza Engracia, manager, and mentored by Ms. Rochelle Maderia, iSynergies accountant. He assisted Ms. Rochelle Maderia in clerical and accounting activities. Task Performed by both internsRecord ManagementThese involves managing, sorting and store keeping of important files of the firm. The interns must first identify which files are needed to be kept. These are called active records. On the other hand, an inactive records are records that is no longer needed to conduct current business but is being preserved until it meets the end of its retention period, such as when a project ends, a product line is retired, or the end of a fiscal reporting period is reached. Records management was sometimes used to refer only to the management of records which were no longer in everyday use but still needed to be kept - 'semi-current' or 'inactive' records, often stored in basements or offsite.Posting of transactions through an Electronic Accounting SystemThe interns helped in posting transactions in an electronic accounting system made and develop by the firm. The interns used receipts and invoices as basis of the transactions to be posted.Bank ReconciliationA company's general ledger account Cash contains a record of the transactions (checks written, receipts from customers, etc.) that involve its checking account. The bank also creates a record of the company's checking account when it processes the company's checks, deposits, service charges, and other items. Soon after each month ends the bank usually mails a bank statement to the company. The bank statement lists the activity in the bank account during the recent month as well as the balance in the bank account.When the company receives its bank statement, the company should verify that the amounts on the bank statement are consistent or compatible with the amounts in the company's Cash account in its general ledger and vice versa. This process of confirming the amounts is referred to as reconciling the bank statement, bank statement reconciliation, bank reconciliation, or doing a "bank rec." The benefit of reconciling the bank statement is knowing that the amount of Cash reported by the company (company's books) is consistent with the amount of cash shown in the bank's records.Prepared Financial Statement for the first quarter of the yearA financial statement (or financial report) is a formal record of the financial activities of a business, person, or other entity.Relevant financial information is presented in a structured manner and in a form easy to understand. They typically include basic financial statements, accompanied by a management discussion and analysis:A balance sheet, also referred to as a statement of financial position, reports on a company's assets, liabilities, and ownership equity at a given point in time.An income statement, also known as a statement of comprehensive income, statement of revenue & expense, P&L or profit and loss report, reports on a company's income, expenses, and profits over a period of time. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period.A statement of cash flows reports on a company's cash flow activities, particularly its operating, investing and financing activities.The financial statements made by the interns were presented during the quarterly board meeting.

Reprographics Reprographics is a term encompassing multiple methods of reproducing content, such as scanning, photography, xerography and digital printing. The term applies to both physical (hard copy) and digital (soft copy) reproductions of documents and images. CommunicationThese includes answering the telephone, transacting with customers, passing message and files to other departments etc. Table 2. Summary of Scheduled Activities of Mark Christian BombitaWEEK 1 The interns participated on the orientation The interns were introduced to the employees of the company. Compared the bank passbook and the tellers proof for accuracy Sort files and records according to branches and department

WEEK 2 Sort files and records according to branches and department. Transacted customers and recording it to the accounting software Arranged the customers file alphabetically. Review 2014 journals and ledgers

WEEK 3 Review 2014 journals and ledgers Help prepare in making of financial statements Sort files and records according to branches and department. Transacted customers and recording it to the accounting software

WEEK 4 Transacted customers and recording it to the accounting software Manage the monthly tracking of physical inventory Compare physical inventory count to the accounting software records Help prepare in making of financial statements Review 2014 journals and ledgers

WEEK 5 Transacted customers and recording it to the accounting software Help prepare in making of financial statements Attaching the source documents to different records in the ledgers Check errors regarding the system Bank Reconciliation Compare the manual recording of accounts receivable to the accounting software records

WEEK 6 Compare the manual recording of accounts receivable to the accounting software records. Bank Reconciliation Find the error in the book that is not balanced. Compare the manual entry of all of the accounts versus the accounting software records Sort the sales invoice

Activies of Mr. Edgardo SicorsiconDuring my internship days, I performed a lot of task which are very essential for the office. First is the Filing of the Documents, this task is one the important task performed, this office has many documents come from the others departments and braches likes the policies, recommendation, transmittal forms, and documents for their loan products. Second is the transmittal of documents, this is important one task I performed because these documents are important for the other departments. There are the approved documents which they are needed in their work in their own departments. The third one is answering of phone calls, this task is essential because if the other departments has a concerned regarding with the executive directors and the board of trustees. Also when they follow-up their documents for the signature and approval if the directors. Assisting in boards meetings, this task is essential one, because in this offices their often conduct their meetings, assisting my heads to distribute the documents needed for the meetings, giving the foods and snacks of the persons in the meeting and assisting and giving them when they needed something. Monitoring the inventory of supplies and forms, this is a minor task I performed, every end of the day I observed the supplies and forms to determine what I should stock up before I leave at the office. List of ActivitiesThese are the activities I performed during my internship. They are as follows: Filing of Documents Transmittal of Documents Answering of Telephone Calls Assisting in the Board Meetings Monitoring the Inventory of Supplies and FormsSkills Acquired of Mr. Mark Christian A. BombitaConceptual SkillsThe internship provided the sensation of a real world work experience for the interns. Though such skills are thought at schools and universities, lessons and real world work experience has a mile of differences. The interns might get to assist at buying personal stuffs for the employees, complying on their non-related demands, making coffee for them or even learn behind the scenes activities of running a corporation. The experience they garnered from those activities will give them an edge during job hunting.Interpersonal SkillsCommunicating with different people cant be avoided when you get yourself a job so that is a skill that shouldnt be overlooked. Interpersonal skills are those skills that will help in effectively dealing with different people. Both the interns have a good interpersonal skills to begin with so they never encountered any difficulties dealing with other people. But dealing with the employees and bosses is much different than dealing with masses. The experience will help them more to become a professionally inclined employees in the future.Technical SkillsHands on experience is very important. Having a real world problems to solve will really test the wits of the interns. Compared to made problems from books and reviewers, real world problems have many factors that arent constant. So to have insights on how accounting works outside the classroom, the interns immerse themselves in working and garnering experience. The interns learned the proper application of their skills acquired in their classroom on their activities during the internship Skills Acquired of Mr. Edgardo SicorsiconUndertaking an on-the-job training brings plenty of knowledge and skills to students. As I undertake my OJT at the Alalay Sa Kaunlaran (ASKI), Inc.. I was assigned as Administrative Assistant, to do task which doesnt really helps me to improve my knowledge in terms of my course but it helps to improved on how to develop yourself in an environment which you do not know and to do the task which I really dont know. This internship helps me to adopt and experience the business world. I have learned a lot of values which I can apply in the future. The training I had in ASKI is like learning new lessons each day. Since I was assigned at the Executive Directors Office, I became familiar with the transactions being used by the company. I also became familiar with the documents being prepared by the department. I became more knowledgeable in clerical works using computers because I was often assigned to encode and prepare documents regarding with the board of trustees in the company. I also learned how to talk and interact with a high-positioned employee in the company. Aside from these, I had been aware with the tools and equipment usually used in the office. In my seven weeks stay in ASKI, I have acquired lessons that are not only related to my course but lessons that mold me from being a student in to professional.As I was working as a trainee, I learned to become hardworking and responsible. I always make sure that I do the task assigned to me correctly and efficiently. During the training I learned to follow instruction and I became open-minded in accepting criticisms and accepting my wrong moves. This training also helped me to boost my self-confidence because of the people I worked with who always give compliment with the thing I had done. I also learned how to adjust myself in the environment where I am working and to the people I worked with. During the training I also learned the importance of motivation. I was able to realize that for to do the task being assigned to me efficiently I should be highly motivated and what motivates m is the appreciation showed by the people I worked with. Working and learning with them is really a one of kind experience. Because of them This OJT became my turning point from being a student into a career woman. It gives me knowledge and skill that I can treasure and use as I continue to the path on the field that I had chosen. This on-the-job training gives me a glimpse on what lies ahead after graduation.