INDUSTRIAL TRAINING REPORT

ABBAZ ADVISORY SDN. BHD.

AHMAD SYAKIR BIN SHAHRUDDIN

62213117002

REPORT SUBMITTED IN PARTIAL

FULFILMENT FOR THE BACHELOR IN
ACCOUNTING (HONS.)

ACCOUNTING SECTION
UNIVERSITI KUALA LUMPUR BUSINESS SCHOOL
KUALA LUMPUR

2020
INDUSTRIAL TRAINING REPORT
ABBAZ ADVISORY SDN. BHD.

AHMAD SYAKIR BIN SHAHRUDDIN

62213117002

REPORT SUBMITTED IN PARTIAL

FULFILMENT FOR THE BACHELOR IN
ACCOUNTING (HONS.)

ACCOUNTING SECTION
UNIVERSITI KUALA LUMPUR BUSINESS SCHOOL
KUALA LUMPUR

2020
 DECLARATION

I declare that the work in this Industrial Training Report was carried out in accordance
with the regulations of Universiti Kuala Lumpur Business School. It is original and it
is the results of my own work, unless otherwise indicated or acknowledged as
referenced work.

Name of Student : Ahmad Syakir Bin Shahruddin

Student I.D. No. : 62213117002

Programme : Bachelor in Accounting (Hons)

Signature of Student : ……………………………………………..

Date : July 2020

This report was read and verified by:

Name of Company : Razali Mat Sarif

Supervisor Accounting Manager
Abbaz Advisory Sdn. Bhd.

Signature / Date : ……………………………………………..

Name of University : Dr Haslina Hassan

Supervisor Accounting Section Lecturer
UniKL Business School

Signature / Date : ……………………………………………..

ii
 ACKNOWLEDGEMENT

Firstly, I wish to thank God for giving me the opportunity to embark on my

Bachelor’s Degree and for completing industrial internship successfully. My gratitude
and thanks goes to my company manager and supervisor En Razali Mat Sarif.

My appreciation and thanks also goes to my university supervisor Dr Haslina Hassan.

Special thanks to my colleagues and friends during the internship at Abbaz
Accounting Sdn Bhd.

Thanks to my mentor, Ms. Shahirah, Mrs. Naimah, Mr. Ahmad Azhar, and Mr.
Rahimi and who is the senior staff in the accounting department. They helped me so
much in completing my task and shared lots of beneficial knowledge that helped me
understand better in this field. With the help of everyone now I am completely done
with my internship.

Finally, I would like to express my gratitude to both of my parent for their continuous
support and advice that gave me my vision and determination to excel. This piece of
victory is dedicated to the both of them. Alhamdulilah.

iii
 ABSTRACT

Industrial training is one of the requirements to be fulfilled in order to obtain a degree.

Each student in this field needs to do industrial training in accounting and finance or
in audit firms that are cognized member of Malaysian Institute of Accountants. It is a
compulsory for the students to undergo a 6 months industrial training which consist of
24 weeks before completing their course. The objective of this industrial training is to
expose students to the actual working environment.

The training also helped students to cultivate a sense of camaraderie that would help
them in communication, teamwork that would enables them to spread positive energy
among their colleagues. Students who underwent industrial training will eventually
become a more trustworthy and responsible person. Besides, objective of industrial
training is to build self-confidence among students and let students know the technical
knowledge and professionalism. I was placed in accounting department during my
industrial training. This industrial training really examines the understanding and
responsibility in completing the assignment given by the firm. Specifically, it
measures the creativity in conducting the task to fulfil the firm and clients wants and
needs. This training gives me good experience from the view of implementing my
knowledge in accounting aspects.

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 TABLE OF CONTENTS

DECLARATION ii
ACKNOWLEDGEMENT iii
ABSTRACT iv
TABLE OF CONTENTS v
LIST OF TABLES vii
LIST OF PLATES viii
LIST OF ABBREVIATIONS ix

CHAPTER ONE INTRODUCTION 1

1.1 Objective of INTRA 1
1.2 Details of Industrial Training 2
1.2.1 Brief Details of Company 2
1.2.2 Position in Department 2
1.2.3 Major Task or Project 3
1.2.4 Schedule of Training 3

CHAPTER TWO GENERAL PRESENTATION OF THE COMPANY 4

2.1 Company Profile 4
2.2 Corporate Logo 6
2.3 Company History 6
2.4 Location 7
2.5 Mission and Values 8
2.5.1 Vision 8
2.5.2 Purpose 8
2.5.3 Values 8
2.6 Product or Services Provided 9
2.6.1 Financial Advisor 9
2.6.2 Audit Service 9
2.6.3 Secretarial Service 9
2.6.4 Taxation 9

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 2.6.5 Management Consultation 10
2.6.6 Bookkeeping 10

CHAPTER THREE REPORT ON JOB/TASK/PROJECT 11

3.1 Role on job and task 11
3.2 Job Responsibilities 12
3.3 Details of task 14
3.3.1 Understanding the nature of the business. 14
3.3.2 Record bank statements. 14
3.3.3 Make suspense account. 15
3.3.4 Make the bank reconciliation. 15
3.3.5 Make the journal for opening balance. 15
3.3.6 Clear all transaction in suspense account. 16
3.4 Accounting Software System 19
3.4.1 QuickBooks 19
3.4.2 Microsoft Office Excel 23
3.5 Issue encountered during internship 27
3.5.1 Insufficient data and documentation. 27
3.5.2 Error made by client 27
3.5.3 The accounting software frequently crashed 27
3.5.4 Lack of efficiency from the staff 27

CHAPTER FOUR RECOMMENDATION AND CONCLUSION 28

4.1 Recommendation 28
4.2 Conclusion 30

APPENDICES 31

vi
 LIST OF TABLES

Table 3.1 List of client company 11

Table 3.2 Task & Job 12

vii
 LIST OF PLATES

Plate 1.1 Department Organisational Chart 2

Plate 2.1 Abbaz Group’s Logo 6
Plate 2.2 Map of the company location 7
Plate 3.3 Main Interface 19
Plate 3.4 Main Interface for the company 20
Plate 3.5 Menu bar 20
Plate 3.6 Reconciliation interface 21
Plate 3.7 Balance sheet 21
Plate 3.8 Profit and Loss 22
Plate 3.9 Sales Report Excel for JM Bariani House Subang Jaya Sdn Bhd 23
Plate 3.10 MBB QRPay for JM Bariani House Subang Jaya Sdn Bhd 24
Plate 3.11 Credit Card for JM Bariani House Subang Jaya Sdn Bhd 24
Plate 3.12 Property, Plant and Equipment Schedule 25
Plate 3.13 Hire Purchase Loan Schedule 25
Plate 3.14 Summary of Salary Schedule 26

viii
 LIST OF ABBREVIATIONS

Abbreviations

UniKL Universiti Kuala Lumpur

Intern Industrialmanship

COVID-19 Coronavirus Disease 2019

MCO Movement Control Order

AR Account Receivables

AP Account Payables

PPE Property, Plant & Equipment

HP Hire Purchase

ix
 CHAPTER ONE
INTRODUCTION

One.1 Objective of INTRA

The main purpose of Industrial Training is to expose students to a real working

environment experience and at the same time to help gain knowledge through hands
on observation and job execution. In addition, from the industrial training, the student
will be able to develop their skills in work ethic, communication, management and
also build their self-confidence. By undergoing this training, this will allows student to
relate theoretical knowledge that they have learnt during the class session with its
application in the working industry related to their courses. Beside, this training also
provide student with an opportunity to test out their interest in a particular career
before permanent commitments are made. If they feel like the working environment
and job scope are not suitable for them so they can find another job that suits them
well.

Internships will also help in cultivating teamwork among colleagues. This will
help the student to train themselves to be a good team player contributing to the
performance of the organization. At the same time, this can also nurture them to be a
trustworthy person and increase their sense of responsibilities in implementing a good
working habit. Furthermore, the experience and knowledge gain through this training
will be an advantage for the student when applying for their permanent job in the
future. While working on their task, the students were taught to use their critical
thinking and creativity while dealing with problem.

Lastly, they would be able to build a good communication skill with group of
workers and learn a proper behaviour of corporate life in industrial sector. From this,
the student will be able instilled with good moral values such as responsibilities,
commitments and trustworthy during their training.

1
One.2 Details of Industrial Training

One.2.1.1 Brief Details of Company

ABBAZ GROUP is a boutique firm of professional advisers with a proactive

and personalized approach. We are focused on you and always start our consultative
process by asking "what do you want to achieve?" Our financial solutions are tailored
to meet clients needs and goals which focusing on Auditing, Bookkeeping, Taxation,
Accounting and etc.

ABBAZ group of companies’ wholly manage by Abbaz Advisory Sdn Bhd

which has three (3) Managing Partner : Abu Bakar Uzair, Badrul Ariffin Mohd Yasin
and Zul Faqar Muhammad Fadzil.

One.2.1.2 Position in Department

ABU BAKAR
Account & Tax Manager

RAZALI
Account Manager

NAIMAH NAZRAN
Asst. Account Manager Account Supervisor

RAHIMI NORSHAHIRAH
Acct Senior Account Asst

AZHAR Account Trainee

Semi Sr Account SYAFIQ
AIMAN
SYAKIR
SUHAIRI
NORAZLIN
NADIRAH
IFFAH
SABARINI
QAHIRAH

Plate 1.1 Department Organisational Chart

2
One.2.1.3 Major Task or Project

During the intern at Abbaz Advisory Sdn Bhd, I was placed at the Accounting
Department and given task to record all the transaction for client by QuickBook. Most
of the time during this intern, JM Bariani Sdn Bhd was the pioneer task for me to go
through lot of things regarding the bookkeeping.

One.2.1.4 Schedule of Training

The duration of the intern as per cover letter is 6 months or 24 weeks, but the
unexpected event happens all around the world, the Coronavirus Disease 2019 spread
rapidly. Malaysia been affected since January 2020, and the government have been
declare to exercise the Movement Control Order starting 18th Mac until 31st August
2020. The duration of the intern also been effected due to the MCO where some of the
company not operate during the MCO. The Senate University come out the solution to
the shortage the intern period only for 17 weeks at least.

3
 CHAPTER TWO
GENERAL PRESENTATION OF THE COMPANY

Two.1 Company Profile

Abu Bakar & Partners is a boutique firm of professional advisers with a

proactive and personalized approach. We are focused on you and always start our
consultative process by asking “what do you want to achieve”? Our financial solutions
are tailored to meet clients needs and goals which focusing on Auditing, Bookkeeping,
Taxation, Accounting and etc.

ABBAZ group of companies’ wholly manage by Abbaz Advisory Sdn Bhd

which has three (3) Managing Partner :

Abu Bakar Uzir

He is recognized as a qualified Chartered Accountant (CA), Chartered Tax

Practitioner (CTP), Certified Financial Planner (CFP) and Director of the Company.
Abu Bakar established ABBAZ ADVISORY SDN BHD with a view to providing a
niche, specialist service to medium business, and personal taxation clientele.

Abu Bakar has extensive experience in all areas of Accounting and Finance,
with his prior expertise in taxation advice and planning, business structuring and
development, audit and assurance, self managed superannuation and providing
general management advice to a large portfolio of diverse business clients.

4
 Badrul Arifin Mohd Yasin

He is one of audit managers of the Firm at Kuala Lumpur Branch Office. He

graduated with a Bachelor of Accountancy (Hons) from International Islamic
University (Malaysia). He has been in the professional practice for over seventeen
years and has gain extensive experience in auditing, taxation and new business
development. He is presently a member of the Malaysian Institute of Accountants
(MIA) as a Chartered Accountant.

Zul Faqar Muhammad Fadzil

He is a Chartered Accountant (CA) with the Malaysian Institute of

Accountant (MIA) and since 2002 he manages his own Chartered Accountant firm,
Zul Arifin Associates (ZAA) in Pandan Indah, Kuala Lumpur rendering services in
the area of company secretarial, accounting, auditing, taxation, business
consultancy, investment and financial planning and Tax & GST Consultant.

5
Two.2 Corporate Logo

Plate 2.2 Abbaz Group’s Logo

Two.3 Company History

The firm was established in 2012 and it has become one of the leading virtual
Chartered Accountant services firms in Malaysia. The firm is providing services to
over 100 clients from local companies. The firm has significant presence across
manufacturing, services, commercial, financial and public sector entities in the
country.

Abbaz Group was established through merging of the company Abu Bakar &
Partners and Zul Arifin Associates (which merged with Adib Azhar & Co.). The
Group of Companies : Abbaz Advisory Sdn Bhd, Abbaz Secretarial Services PLT,
Abbaz Tax Services Sdn Bhd, Abbaz Premium Training Sdn Bhd, Abbaz Accounting
Sdn Bhd, Eccounting PLT, Zurin & Co, Zul Arifin Associates and Abu Bakar &
Partners.

6
Two.4 Location

Plate 2.3 Map of the company location

7
Two.5 Mission and Values

Two.5.1.1Vision

Their main vision is to be the Standard of Excellence. It is realized through

being highly respected by their broad community of stakeholders, and by being:
i) The first choice of the most coveted talent drawn by our eminence, culture
and diversity.

ii) The first choice of the most sought-after clients, attracted by the breadth and
depth of our world-class service in each market segment.

Two.5.1.2Purpose

The main objective of the firm’s service to the clients is based on the
professional reputation, high ethical standards and mutual trust. These standards
bound the staff, include being professionally independent in all assignment and to
treat all the information obtained from clients in the strictest confidence.

Two.5.1.3Values

Firm’s mission is to provide competent and professional services by

optimizing talented human capital and resources, exceeding clients’ expectations
whilst creating values to the stakeholders.

8
Two.6 Product or Services Provided

Two.6.1.1Financial Advisor

They provide a diverse range of strategic and financial advice to clients in

relation to corporate finance, valuation and other corporate activities. The firm has a
dedicated team of multi-disciplinary, experienced professionals who offers a range of
services designed to meet your different needs. We are Malaysian-based with access
to all of the benefits a worldwide footprint can provide.

Two.6.1.2Audit Service

They also offer audit services to organizations needing external assurance of

its financial as required by statutes or otherwise. They help their client in design
internal audit processes to help management/directors to have a closer check on the
controls in the organization to assure themselves of the reliability of the systems in
place. They are also extending their services to financial and commercial due
diligence reviews and reporting.

Two.6.1.3Secretarial Service

• Maintenance of statutory books and records

• Preparation of resolutions
• Reminders and assistance in setting up statutory meetings
• Preparation of minutes if meetings
• Filing of necessary documents and returns

Two.6.1.4Taxation

They also provide services as tax agent for the company help to eliminate
missed datelines for various filing of documents and returns and completeness in
submission of statutory forms. They identify GST compliance issues and design
strategies to smoothen transaction. Our experienced and certified team of GST
professional offers GST advisory services customized to meet specific business needs
necessary to be GST-ready in various areas.

9
Two.6.1.5Management Consultation

They enable their customers to create new value by delivering diligent and
quality work at competitive prices. They achieve this with strong and proven
methodologies and increased productivity. Backed by more than 30 years of
experience, they specialize in enabling Small to Medium Sized Companies (SMEs) to
greater heights and it is their passion to be able to assist their clients to be successful
and grow together with them.

Two.6.1.6Bookkeeping

They offer a wide variety of accounting solutions to large and small businesses
alike. Virtual Chartered Accountant is an accounting service designed with small
business entrepreneurs in mind. It combines an easy-to-use, online data entry and
reporting system with expert advice and hands-on assistance from the experienced
team of Chartered Accountants. They aim is to provide cost effective services through
a substantially paperless working environment. By taking advantage of online
communication, Virtual Accounting Services facilitates effective client contact. The
team of qualified accountants and associates cover a large area of expertise and are
always happy to provide help and advice on accounting products, services and
complete business solutions.

10
 CHAPTER THREE
REPORT ON JOB/TASK/PROJECT

Three.1 Role on job and task

During the intern period, I was assign to prepare full set of account for the
companies as shown in Table 3.1.

Table 3.1 List of client company

Company Sole-proprietorship
MAIWP Healthcare Sdn Bhd MA Trading
Workforce Security Sdn Bhd Klinik Ikhlas
PT Bravo Sdn Bhd Muhammad Zahir & Co
ASCO Global Sdn Bhd
UMCAS Resources Sdn Bhd
Drosstech Sdn Bhd
Elaza Niaga Sdn Bhd
SM Manik Flooring Sdn Bhd
JM Bariani House Sdn Bhd
JM Bariani House Subang Jaya Sdn Bhd
JM Bariani House Catering Sdn Bhd
DCAC Solutions Sdn Bhd

I was allocated in the Accounting Department to assist the senior staff in

handling the bookkeeping process. The process began when Accounting Manager
assigned his staff to handle client’s company and then the staff will seek for trainee to
assist them. I was entrusted to handle a full set account for a few companies during
my intern.

11
Three.2 Job Responsibilities

Every client’s company account was updated differently. Some of it we

managed to update their account on daily basis, monthly basis and some company was
back log which means we need to update the account for the pass whole year. The
selected detail of job and task that I am done as shown in Table 3.2.

Table 3.2 Task & Job

Client Task & Job
MAIWP Healthcare Sdn Bhd a. Check recorded transaction in the
Under this company, they handle most of the bank statement and reconciled.
clinic in Kuala Lumpur and Pusrawi Hospital

MA Trading a. Record and reconcile Bank

Involve in tender for cleaning services and Statement.
most of the tender from government b. Record invoice.

ASCO Global Sdn Bhd a. Record and reconcile Bank Statement

Involve in construction and most of the for 2019.
construction tender from government b. Clearing suspense account which
reallocate the transaction.

Muhammad Zahir & Co a. Record and reconcile Bank Statement

Legal firm for 2019.
b. Record invoice.
b. Manage Clients Account, Client Trust
Account and Office Account.

JM Bariani House Sdn Bhd a. Record Bill and Knockoff payment

Food & Beverage industry for utilities.
c. Record and reconcile Bank
Statement.
b. Knockoff Payment for AR.
c. Knockoff Payment for AP.
d. Record Depreciation.
e. Record Payroll items.

JM Bariani House Subang Jaya Sdn a. Record Bill and Knockoff payment
Bhd for utilities.
b. Record and reconcile Bank

12
Food & Beverage industry Statement.
c. Knockoff Payment for AR.
d. Knockoff Payment for AP.
e. Record Depreciation.
f. Record Payroll items.
g. Record Daily Sales for Outlets :
 Subang Jaya
 Rawang
 Bangi
h. Record amount due between
company.
i. Knockoff regarding Sales.

JM Bariani House Catering Sdn Bhd a. Record and reconcile Bank

Food & Beverage industry Statement.
j. Record Depreciation.
k. Record Payroll items.
l. Record Daily Sales for Outlets :
 Wangsa Walk
m. Record amount due between
company.
n. Knockoff regarding Sales.

DCAC Solutions Sdn Bhd a. Create list of account in the system.

Electrical engineering industry b. Record Bank Statement.
c. Record AP and AR.
d. Knockoff payment for AP and AR.
e. Record expenses.
f. Record Petty Cash
g. Record Depreciation.
h. Create the Hire Purchase table.
i. Record Payroll items.
j. Finalize the account.

13
Three.3 Details of task

During the 6 months period, I was entrusted to do the following job scope as
follow:

Three.3.1.1 Understanding the nature of the business.

First of all, it is very important to start every task by gaining more

understanding about it. Every client comes with different type of business background
and industry such as manufacturing, food and beverages and also legal firm. Each of
this industry has different kind of accounting treatment so it is crucial for me to
understand the flow of the process first. I do research from the web and ask senior
staff for a better clarification.

Three.3.1.2 Record bank statements.

Abbaz Accounting is using software called ‘Quickbooks’. In my opinion, this

software is more convenient to be used compared to any others. It is very easy to use
and most importantly I can access it anywhere as long as I have internet connection as
everything were saved online. I can work from home if I did not have much time
during office hours. For the first process of bookkeeping, I need to record monthly or
yearly bank statement into the system depends on what basis the client use. So I will
be given the bank statement, print it out and start recording.

From the bank statements, cash outflow will be recorded as cheque expense
will cash inflow will be recorded as bank deposit in the Quickbooks software. It is a
repetitive process as I only need to differentiate between these two transactions but it
is an easy process as long as you are being detailed with your recording.

14
Three.3.1.3 Make suspense account.

During recording the bank statement, I need to identify what the transaction is
being used for so that I can transfer it according to their account category. Most of the
time, I can easily track and hit it directly to their designated account. But, if there is
any unknown transaction and there is no documentation for me to refer I will transfer
it to a dummy account first. Usually I’ll name the dummy account as ‘Ask My
Accountant’ or “Suspense Income/Expense”. Later then after I obtain the related
document needed for the clearance, I will transfer it to the right account category. This
applied on both cheque expense and bank deposit.

Three.3.1.4 Make the bank reconciliation.

After all of the bank statements have been completely recorded, the next step is
to ensure that all of the transactions are accurately and precisely inserted into the
Quickbooks. Firstly, go to the reconciliation tab in the software and insert the closing
amount of the bank statements. Then, the next step is to tick every each of the
transaction that had been recorded until the balance show zero. Zero balance means
that all the transaction are precisely recorded according to the bank statement.

Three.3.1.5 Make the journal for opening balance.

In determining the opening balance of the bank account, the journal entry of
opening balance has to be made. All assets, liabilities, equity, income and expenses
have to be recorded using “Journal entry” in the Quickbooks application. If the credit
side and debit side is balance, the journal entry made is true. If it is vice versa, the
adjustment has to be made. Then, the opening balance of bank could be used for the
bank reconciliation purposes.

15
Three.3.1.6 Clear all transaction in suspense account.

Three.3.1.6.1 Classified the bank deposit transaction into income account.

The bank’s deposits that have been temporarily recorded in the suspense
account need to be classified based on the transactions have been made. The suspense
account will be replaced with the income account. In my casa, I was handling a client
business who involve with food and beverages who owns plenty of restaurants. Their
deposit are mostly their sales income that came from their outlet, so usually I will hit
it up directly to the sales account.

Three.3.1.6.2 Classified the cheque expense into expense account.

The same approach applied to cheque transactions that have been recorded in
suspense account. The suspense account will be replaced with the expense account.
The cheque expense transactions of my client only involve payment to supplier and
expenses for the company. I just need to identify what the transactions are paid for and
then hit it to their expense account.

Three.3.1.6.3 Create the invoices and bills.

Invoices and bills are two different things. Invoices will be issued to the
customers from the supplier while bills will be made from the customer. When client
receive invoices from their supplier, it need to be recorded as bills in the Quickbooks
and set it off with cheque expense when they have done with the payment.

For invoices, usually client will be issued it to their customers who buy their
product or using their services. The same treatment such as bill, this invoices also
need to be set off with bank deposit when their receivables have paid for it.

16
Three.3.1.6.4 Tabulate the plant, property and equipment transactions.

Plant, property and equipment need to be recorded in order to determine the

total cost, total accumulated depreciation and total net book value. After that, we need
to record the journal entry of the depreciation expenses of the current accounting
period in the Quickbook.

Three.3.1.6.5 Tabulate the Hire Purchase Loan, if required.

Some of the assets such as Motor Vehicle bought through Hire Purchase Loan
with the bank. In order to track down the payment and the interest that been paid to
the bank, we need to create the account such as Hire Purchase Creditor to track down
the balance of the HP loan, Interest in Suspense to track down the interest that been
paid and it contra account, Interest expenses on HP located in Statement Profit and
Loss. In order to record in the system, HP Loan need to have it own table or schedule
for easy to us to record in the system.

Three.3.1.6.6 Preparing the salary items.

The salary items that contain basic salary, allowance, contribution from
employer and employee itself, and other deduction. First thing before record in the
system, I create the table in excel to track down the tabulation of the salary items. The
most difficult part is when it come to EPP, SOCSO and EIS. Each items must be
separated between the employer contribution and employee contribution. Some of
company already have their salary schedule, but some don’t have, so I must create by
my self. To record in the Quickbooks, we usually use the Journal Entry because the
salary item might be more then eight item.

17
Three.3.1.6.7 Preparing the financial statements.

The last step to be done is prepare the financial statements such as Balance
Sheet, Statement of Profit or Loss and Statement of Changes in Equity that could be
generated from Quickbooks. I need to ensure that every month of the statement are
consistent and free from any misstatement or material amount. The account of the
company that have been made will be reviewed by the Account Manager, Encik
Razali bin Mat Sarip. All financial statement will be given to Audit Department to be
audited.

18
Three.4 Accounting Software System

Three.4.1.1 QuickBooks

QuickBooks is an accounting software package developed and marketed by

Intuit. QuickBooks products are geared mainly toward small and medium-sized
businesses and offer on-premises accounting applications as well as cloud-based
versions that accept business payments, manage and pay bills, and payroll functions.
Small business owners typically use QuickBooks to manage their invoices, pay their
bills, and track their cash flows. They also use it to generate month- and year-end
financial reports as well as prepare for quarterly or annual business taxes. It’s common
for business owners to manage QuickBooks themselves or use an in-house or
outsourced bookkeeper. Below shown the interface that provided by QuickBooks :

Plate 3.4 Main Interface

19
Plate 3.5 Main Interface for the company

Plate 3.6 Menu bar

20
Plate 3.7 Reconciliation interface

Plate 3.8 Balance sheet

21
Plate 3.9 Profit and Loss

22
Three.4.1.2 Microsoft Office Excel

Microsoft Office Excel is a spreadsheet developed by Microsoft. It features

calculation, graphing tools, pivot tables, and a macro programming language called
Visual Basic for Applications. Microsoft Office Excel was designed to support
accounting functions such as budgeting, preparing financial statements and creating
balance sheets. It comes with basic spreadsheet functionality and many functions for
performing complex mathematical calculations. It also supports many add-ons for
activities such as modelling and financial forecasting, and seamlessly integrates with
external data to allow you to import and export banking information and financial data
to and from other accounting software platforms.

I use this Excel when it come to the calculation on depreciation, hire purchase
and payroll for each client. The special Excel that I have been upgrade is for Sales
Report, Credit Card tracking and MBB QR tracking for JM Bariani House Sdn Bhd.
Usually we prepared the Excel for us to record the final figure inside the Quickbook,
and this Excel also being useful for the auditing team. Below are the example Excel
that I created :

Plate 3.10 Sales Report Excel for JM Bariani House Subang Jaya Sdn Bhd

23
24
Plate 3.11 MBB QRPay for JM Bariani House Subang Jaya Sdn Bhd

Plate 3.12 Credit Card for JM Bariani House Subang Jaya Sdn Bhd

25
Plate 3.13 Property, Plant and Equipment Schedule

Plate 3.14 Hire Purchase Loan Schedule

26
Plate 3.15 Summary of Salary Schedule

27
Three.5 Issue encountered during internship

Three.5.1.1 Insufficient data and documentation.

Documents such as payment voucher, bank statement and invoice are very
important in completing every task as this is the only reliable sources that can be
trusted for data entry. Inquiry from client is not sufficient enough as they need to
come up with this reliable documentation. If this issue occurs, all we need to do is to
follow up with client to send us the remaining documents needed to complete the
accounting work.

Three.5.1.2 Error made by client

One of the companies that I handle key in their own sales in the company drive
shared with them so every daily sales record will be recorded by the staff at client’s
office. The problem arised when they wrongly recorded the amount or transaction for
certain days or month. This will directly affect my work here in the office as I have to
record their sales according to the amount that have been recorded by them. The
solution to this problem is to request their monthly sales record in order to avoid this
error.

Three.5.1.3 The accounting software frequently crashed

We are using Quickbooks accounting software in our daily task. Due to

transaction overload, the software will crash most of the time that I need to close the
browser in order to fix it. Moreover, the specification of the PC is also the reasons that
cause the software to crash as it is not enough to support the process.

Three.5.1.4 Lack of efficiency from the staff

One of the staff need to undergo more training as she has low knowledge
regarding some of the accounting terms and only keeps on relying on trainee assistant
without detailed reviewed on their work done. As a result, if there is any error from
backlog transaction, the new trainees need to amend it up for her resulting pressure
among the trainees. It is good that the trainee can learn how to handle the problem but

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the staff also need to be more competent and shows a good example in front of their
junior.

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 CHAPTER FOUR
RECOMMENDATION AND CONCLUSION

Four.1 Recommendation

Although it was an honour to train under Abbaz Advisory but there are still
things that they need to fix up. Firstly, they need consider to provide more training to
their staff and trainee to attend a leadership seminar or any accounting related courses
so that everyone can obtain and learn about new knowledge and update regarding
current issue or new obligation. Through this, they can be more competitive and
knowledgeable whenever they are being ask about accounting related issue. This is
because whenever the Account Manager ask them about accounting terms, they are
hardly know how to answer it well. Plus, this is a good approach by sending them to
this kind of seminar or courses as they can also exposed to the important of time
management, leadership and emotion handling when working in a pressure state. This
will also directly impact overall the performance of the company as they can
positively impact the growth of the company.

Besides, the staff should be more competitive and avoid procrastination. What
I can see during my training is, one of the staff are lack of efficiency in doing the task
given by Account Manager resulting to late submission of account. Being a staff there
meanings that every each of them need to show that they are more capable and
knowledgeable than the trainee. This will bring a bad impression from the trainee side
as well as client that are using their services.

In addition, this inefficiency is also caused by lack of staff in the department. If

they can hire one or more new staff it will surely helps them to handle those account
work more easily. Too many trainees in the department is good but if they hire more
people with good experience it can surely benefits more to the organization.

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 Due to COVID-19, the government announce that all operation of business
must be stop at the point where the Movement Control Order were enforced. I facing a
few confusing information regarding the operation of the business where the
announcement by the UniKL itself keep dragging once the MCO keep extend, and the
company also make the same things. As the MCO keep extended, the company
decided to break and no work from home were conducted for a month and after the
government decided to open the operation of few industries, the company decided to
working on Saturday as fair to the company already paid to us during the break. Due
to this problem, the trainee actually didn’t being paid and the trainee who stranded at
the rental house facing the problem for financial. I voice out the problem to the
management which is the Directors, but the directors keep questioning us whether we
want the special treatment for this kind of problem. As result, and as the management
of the company should show empathy and being tolerant toward the student even we
come here to learn, but at the same time, we were working on the job as the
permanent staff.

Finally, the company should pay the trainee if they are working overtime. Most
of the time, when the due date to submit the account is getting near, the trainees need
to stay back for about 1-2 hours in order to complete the task given. Although we can
claim leaves from the overtime but it will be more considerate for us if they pay for
overtime. Other than that, I am happy to work at Abbaz and the environment is very
friendly that everyone were treat as one family. Overall, it is a good company for an
trainee like me gain to gain the experience.

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Four.2 Conclusion

In conclusion, this 24 weeks period of industrial training will create a very

good exposure for student to experience real life working environment on how to
handle themselves physically and mentally. At the same time, student can learn on
how to be more independent in managing their time and working schedule in order to
fully utilize their capability to perform the task given in a period of time. From this
training, we can develop a very good working habit out of the student itself. This is
one of the benefits that they can obtain during this internship period.

This training also provides experience that can’t be applied within the
institution, so this is the only chance that they can prove themselves what they are
capable of. During this training, they are dealing with real client, management and
working environment. Due to this factor, they can learn a lot of thing such as
communication, teamwork and how they handle their emotion if they are working
under pressure. This is crucial as in the future they will be working for an organization
so this is the time to test how they are going to handle problems in their workplace.

In addition, by only learning theoretical knowledge is not sufficient enough to

explore what is the working field looks like. They need this kind of training in order to
nurture and develop a very good value within themselves. For example is
communication with other colleague. Communication is very important in every
organization especially when working as a team. I have improved my communication
skills a lot during this period of training and it is a positive improvement for me.

Last but not least, given the opportunity to undergo training under Abbaz
Advisory is a really good experience for me as I can see the overflow on how the
process of accounting works being done. It is a great exposure for me as I learnt a lot
of things from the senior staff and they are really helpful during this training. There
are so much new knowledge that I managed to obtained throughout this period and it
will be really helpful for me in the future. Moreover, I was able to train myself to be
more efficient and multitasking in doing the task. That was a good achievement that I
can be proud of it.

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APPENDICES

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 APPENDIX 1
Details of Industrial Supervisor

NAME : MR. RAZALI BIN MAT SARIP

POSITION : Account Manager
PHONE NO : 019-6501238
EMAIL : [email protected]

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 APPENDIX 2
Logbook during Internship

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 APPENDIX 3
Attendance during Internship

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