CHAPTER ONE

INTRODUCTION:

1.1. Background of the internship

Definition of Internship: An internship is a supervised and structured learning

experience in a professional setting, typically offered by an organisation for a
limited period of time. It allows students or individuals to gain valuable work
experience and apply their knowledge in a practical setting, relevant to their
chosen field of study. Internships are considered a form of experiential learning
that integrates theory and practice, providing individuals with the opportunity to
develop skills, build their network, and enhance their understanding of the
workforce transition from college to their desired career.

The intern completed a two-month internship at Banque Internationale du

Cameroun pour L’epargne et le Credit (BICEC), BICEC is a financial
cooperative that serves the local community and the nation, from August to
October 2023. The intern was assigned to the “financial department”, where the
intern assisted the staff (the various account managers), in carrying out the
banking services (Creation of accounts, Issuing of loans on daily basis. During
the internship, the intern learned a lot about the Bank and the Banking system
and the principles and values that guide its operations. The intern also gained
valuable skills in banking, accounting, creativity, and customer relations. The
intern worked on various files and tasks that involved registering and organising
various products and services, conducting accounting research analysis,
organising forms, documents and activities, and managing customers, other
summarised activities contained registering customers bank cards and check
booklets.

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During the course of the internship at BICEC, the intern was involved in
activities such as:

1. Assisting with customer account inquiries and transactions.

2. Analysing financial data and preparing reports.

3. Supporting the loan processing and underwriting process.

4. Participating in training programs and workshops to learn about banking

operations and regulations.

5. Shadowing employees in different roles to gain insight into various aspects of

banking.

6. Assisting with administrative tasks, such as filing, data entry, and document
preparation.

7. Learning about risk management and compliance procedures.

Internships in banks are usually structured to provide interns with a holistic

understanding of the operations and business functions of the bank. They may
also offer opportunities for interns to develop their skills, such as financial
analysis, customer service, problem-solving, and teamwork.

1.2. Aims and Objectives of the Internship

The aims and objectives of an internship in a bank can vary depending on the
specific program and the goals of the organisation. However, the aims and
objectives include:

1. To provide students and recent graduates with practical experience and the
opportunity to learn about the banking industry. In that regard the intern had the
chance to develop their skills, expand their knowledge, and gain a deeper
understanding of banking operations and processes.

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2. To help students like their self to develop and enhance relevant skills for a
career in the banking industry. These skills included: financial analysis,
customer service, communication, problem-solving, and teamwork. The intern
was given several opportunities to apply these skills in real-world situations and
receive feedback that enhanced their capabilities.

3. To provide interns with networking opportunities. The intern ought to have

the chance to connect with professionals in the bank, build relationships, and
expand their professional network. This will prove to be valuable for future job
opportunities or references within the industry.

4. To gain exposure to different departments and functions within the bank. This
helped me as an intern to gain a broader understanding of the various roles and
responsibilities in the banking industry and potentially help me identify areas of
interest for their future career path.

5. To provide interns with meaningful work and the opportunity to contribute to

projects and tasks within the bank. By actively participating and making a
positive impact, the intern gained a sense of accomplishment and developed a
professional mind-set.

6. To be provided with feedback and evaluation of their performance. This

helped me as an intern to understand their strengths and areas for improvement,
as well as helping me to get better and align their skills and goals with their
future career plans.

7. To identify potential candidates for future employment within the

organisation. By evaluating interns' performance and fit with the organisation,
banks may offer full-time positions to interns who demonstrate exceptional
skills and potential.

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1.3. Operational definition of terms and List of abbreviations

1.3.1. Operational definition of terms

Account agreement: A written contract between BICEC and its customer. It

specifies the terms and conditions under which the account shall operate as well
as the rights and obligations of both parties. All accounts are necessarily opened
subject to the signing of an account opening agreement.

Account balance: The difference between all debit and credit transactions in an
account. An account is said to have a credit balance (positive balance) when the
total credits exceed the total debits and a debit balance (negative balance) when
this is the contrary.

BICEC bank card: Payment solution in the form of a card issued by BICEC
through which the holder, in accordance with a contract signed with his bank,
can make payments and/or withdrawals. Other related services can be associated
to this card (Insurance, assistance....).

BICEC New Concept Branches: Customer reception premises where funds

transactions, card withdrawals and deposits are optimized.

Cash: General term used to describe bank notes and coins.

Cash credit facility: Short term loan in form of authorised over draft on a
current account. It is essentially used to manage cash flow discrepancies.

Cash Dispenser: A BICEC device through which money can be withdrawn

from the balance left in an account using a bank card and a secret code within
limits stipulated in advance through a contract.

Checking account: An ordinary bank account used to manage daily finances.

(Payment of salaries, utility bills, provisioning savings account, cash
withdrawals, direct debits, etc...) The customer of such an account may be issued
a card and a cheque book.

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Checking accounts (with salary domiciliation): A checking account with
direct transfer of salary.

Cheque: Payment mechanism with which an account holder orders BICEC to

pay the bearer of the cheque the amount indicated on such a cheque. There must
be sufficient funds in the account when a cheque is issued and such funds have
to be maintained until the cheque is presented.

Cheque book: A booklet issued by BICEC usually comprising 25 to 50 paper

cheques.

Cheque deposit(s): Formalities involved in cashing a cheque whereby the

beneficiary signs on the back of the cheque. For a cheque to be cashed and your
account credited, it is imperative to endorse the cheque beforehand.

Cheque Issuance: Signing and remitting or forwarding of a cheque by a cheque

holder to a beneficiary.

Rejected Cheque: Cheque deposited for cashing by beneficiary but returned

unpaid by the issuer's bank. This refusal to pay is very often due to
unavailability or insufficient funds or existence of a stop payment order...

Commission: An amount collected by BICEC as payment for a service provided

to a customer.

Credit (a credit entry): An accounting operation that increases the account

balance, for instance after a transfer, cash deposit or cheque deposit.

Credit (lending transaction): A transaction whereby BICEC provides or

undertakes to provide a customer with a given amount of money that shall be
refunded with payment of fees and interests, either for a specified or an
unspecified period. (A loan is considered free when fees and interests are not
applied on the principal amount).

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Credit interest: An amount owed by a customer accruing from his interest-
bearing accounts or his investments. Value dates are taken into consideration
when calculating these amounts.

Creditor: Physical person or legal entity to whom (or to which) a sum of money
is owed.

Posting Date: Date on which BICEC records a transaction in a customer’s

account.

Transaction Date: Date on which a transaction is carried out by a BICEC

customer.

Value Date: Reference date that is used to calculate credit or debit interests.

Debit (Debit entry): An accounting operation that decreases the account

balance, for instance after a cheque issuance, direct debit or cash withdrawal
from an ATM.

Debit Interest: An amount owed to BICEC by a customer when their accounts

show a negative balance for one or several days. Value dates are taken into
consideration when these amounts.

Debtor (noun): Physical person or legal entity that is obliged to fulfil an

obligation. Very often, this has to do with paying an amount to a creditor.

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1.3.2. List of abbreviations

Abbreviations Their meanings

ATM Automatic Teller Machine

BICEC Banque Internationale pour l’Epargne et le Credit

(International Bank for Savings and Credit)

CRESCO Credit Scholaire (School Fee Loan)

CFA Communaute Financiere Africaine (African Financial

Community)

BIC Bank Identifier Code

IBAN International Bank Account Number

EP Establissement Public (Public Institution)

CA Conseil d’Administration (Board of Directors)

CEO Chief Executive Officer

SME Small and Medium size Enterprises

CSR Corporate Social Responsibility

AML Anti Money Laundering

KYC Know Your Customer

AGM Annual General Meeting

ICT Information Communication Technology

UIN Unique Identification Number

BCP Banque Centrale Populaire

BEAC Banque des Etats d’Afrique Centrale

BPE Bonne Pour Execution

CCP Charge Clientele Particuliers

BPCE Banque Populaire Caisse d’Epargne

CEMAC Communaute Economique et Monetaire de l’Afrique

Centrale

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DRO Direction Regionale de l’Ouest

DA Directeur de l’Agence

RA Responsable Administratif

ISIC International Standard Industrial Classification

BC-PME Banque Camerounais de Petite et Moyenne Enterprise

COBAC Commission Bancaire de l’Afrique Centrale

RIB Releve d’identite Bancaire

SWIFT Society for Worldwide Interbank Financial

Telecommunication

OPS Operations

IT Information Technology

GPDR General Data Protection Regulation

HR Human Resource

CP Charge du Produit

CRO Chief Risk Officer

CHAPTER TWO:

PRESENTATION OF BICEC LIMBE

2.1. Historical background of BICEC LIMBE

 BICEC (Banque Internationale du Cameroun pour l'Epargne et le Crédit) is a
well-known bank in Cameroon that has a significant history. Founded in 1963 in
Douala, Cameroon, BICEC started as a subsidiary of the French banking group
Société Générale, which played a crucial role in its early development.

In the city of Limbe, BICEC is one of the prominent banking institutions that
caters to the financial needs of the local population, businesses, and
organisations. Limbe, situated in the Southwest Region of Cameroon, is known
for its economic activities, including the oil and gas industry, agriculture, and
tourism. BICEC Bank in Limbe serves as an important financial hub for the
residents and businesses in the region.

BICEC Bank has a strong commitment to providing quality banking services

and contributing to the development of the communities it serves. Over the
years, the bank has expanded its network and services, offering a wide range of
financial products, including savings accounts, loans, investments, insurance,
and online banking facilities.

As a part of the larger BICEC banking group, BICEC Bank in Limbe benefits
from the bank's extensive experience and expertise in the financial sector. The
bank has established a reputation for reliability, professionalism, and innovation
within the Cameroonian banking industry. Moreover, BICEC Bank has
continuously adapted and evolved to keep up with advancements in technology
and changes in the financial landscape. This has allowed it to provide efficient
and convenient banking services to its customers.

Overall, BICEC Bank in Limbe, Cameroon, has a long-standing presence in the

region and remains committed to serving the financial needs of individuals,
businesses, and organisations.
2.2. Aims and objectives of BICEC LIMBE:

As an Intern, I can provide you with a few useful and important aims and
objectives that BICEC Bank in Limbe, Cameroon, has set up. However, please
note that these objectives and aims are based on inquiries I made at the Limbe
branch and may not the total or the specific goals of BICEC Bank. Here are
some aims and objectives of BICEC Bank:

1. Provide excellent customer service: BICEC Bank aims to deliver outstanding

customer service and prioritize customer satisfaction by ensuring prompt and
efficient handling of inquiries, complaints, and transactions.

2. Facilitate financial inclusion: BICEC Bank strives to extend its services to

unbanked or underbanked populations in Limbe by promoting financial literacy,
offering accessible banking products, and expanding its branch network to reach
a wider range of customers.

3. Foster economic growth and development: BICEC Bank moves towards

focusing on supporting local businesses and entrepreneurs by providing flexible
financing options, business advisory services, and tailored products to stimulate
economic growth in Limbe and contribute to the overall development of the
region.

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4. Enhance digital banking services: BICEC Bank aims to upgrade its

technological infrastructure to offer innovative and user-friendly digital banking
solutions. This could include features such as online banking, mobile banking
applications, and secure electronic payment systems.

5. Maintain financial stability and compliance: BICEC Bank prioritizes

maintaining financial stability by adhering to regulatory requirements, ensuring
adequate risk management measures, and implementing robust internal controls
to safeguard the bank's assets and maintain the trust of its customers.

6. Support sustainable development: BICEC Bank wishes to incorporate

environmental and social sustainability into its business practices. This could
involve promoting environmentally-friendly banking initiatives, supporting
social causes, and adopting responsible lending and investment practices.

Below are other aims and objectives that also of notable concern to the BICEC
banking community:

The aims and objectives of BICEC Bank in Limbe, Cameroon are to provide
quality banking services to its customers and contribute to the economic
development of the local community. Some specific aims and objectives include:

7. Providing a wide range of financial products and services to meet the needs of
individual and corporate customers.

8. Ensuring efficient and reliable banking operations through the use of modern
technology and digital banking solutions.

9. Promoting financial inclusion by expanding access to banking services in

underserved areas of Limbe.

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10. Supporting local businesses and entrepreneurs through the provision of

credit and financial advice.

11. Contributing to the development of the local econotheir by providing

financing for infrastructure projects and other initiatives.

12. Implementing sustainable and responsible banking practices, including

environmental and social risk management
13. Building strong relationships with customers, employees, and other
stakeholders based on trust, integrity, and professionalism.

14. Promoting a positive work environment and investing in the training and
development of employees.

15. Adhering to all regulatory requirements and maintaining high ethical

standards in all aspects of the bank's operations.

16. Engaging in corporate social responsibility initiatives to positively impact

the local community and environment
2.3. Major activities of BICEC LIMBE

BICEC being a financial institution in the national territory with over 20

branches scattered across Cameroon, Is a bank with prosperous financial
activities. Some major activities of BICEC Bank in Limbe, Cameroon include:

1. Retail banking: BICEC Bank provides various retail banking services to

individuals, including savings accounts, checking accounts, fixed deposit
accounts, and consumer loans.

2. Corporate banking: BICEC Bank offers a range of corporate banking

services, such as business loans, financing solutions, trade finance, and cash
management services to businesses and corporations in Limbe.

3. Investment services: BICEC Bank provides investment services to its

customers, including investment advice, portfolio management, and investment
products such as mutual funds.

4. Foreign exchange services: BICEC Bank offers foreign exchange services,

enabling customers to convert currencies and engage in international
transactions.

5. Online and mobile banking: BICEC Bank provides digital banking services,
allowing customers to access their accounts, make payments, transfer funds, and
manage their finances through online and mobile banking platforms.

6. Treasury services: BICEC Bank offers treasury services, including foreign

exchange trading, money market operations, and asset-liability management to
manage the bank's liquidity and overall financial position.

7. Risk management: BICEC Bank provides risk management services to its

customers, helping them identify and manage risks associated with their
financial transactions and investments.
8. Credit facilities: BICEC Bank offers credit facilities to individuals and
businesses in Limbe, including personal loans, business loans, and trade finance
facilities.

9. Account Services: BICEC Bank likely offers various types of bank accounts,
such as savings accounts, current accounts, and fixed deposit accounts.
Customers can open and manage their accounts, make deposits and withdrawals,
and obtain account statements.

10. Money Transfers: Banks typically offer domestic and international money
transfer services. Customers can send or receive funds through wire transfers,
SWIFT transfers, or other electronic payment methods. However, this facility is
no longer available at BICEC Limbe for the time being.

11. Business Banking: BICEC Bank is likely involved in providing banking

services to businesses, including corporate accounts, commercial lending, cash
management, and trade finance.

12. Customer Support: BICEC Bank has a customer support department that
assists customers with inquiries, account issues, and resolves any problems or
concerns they may have.

2.4. Organisational structure OF BICEC LIMBE

Organisational Structure: An organisational structure refers to the arrangement

of roles, responsibilities, and relationships within an organisation. It defines how
work is divided, assigned, and coordinated among different individuals, teams,
and departments in order to achieve the organisation's goals.

An organisational structure typically includes elements such as hierarchy,

reporting lines, decision-making processes, and communication channels. It
provides a framework for organising and managing activities, resources, and
people within the organisation. There are various types of organisational
structures, including functional, divisional, matrix, and hybrid structures. Each
structure has its own advantages and disadvantages, and organisations choose a
structure that best suits their goals, size, and operations.

The organisational structure helps clarify roles and responsibilities, facilitates

communication and coordination, establishes reporting relationships, and
provides a framework for decision making. It can also impact the organisation's
culture, efficiency, and ability to adapt to changes in the external environment.

Directeur d’agence: Also known as the branch manager of BICEC limbe has
the following roles to play in regards to efficient management and decision
making at BICEC Limbe;

Leadership and Management: One of the primary roles is to provide effective

leadership and managerial oversight to the branch. This involves organising and
directing the activities of branch staff, such as setting targets, managing
performance, and resolving issues.

Customer Service: Ensuring excellent customer service is a vital responsibility.

You need to oversee daily interactions with customers, addressing their inquiries,
resolving complaints, and maintaining a high level of customer satisfaction.
Implementing strategies to enhance customer retention and attracting new
customers is also essential.

Responsable Administratif: Also known as the administrative manager has the

following roles at the BICEC branch in Limbe;

Team Management: He is responsible for managing and supervising the

administrative team, including office staff, clerical workers, and support staff.
This includes overseeing their daily tasks, providing guidance and training, and
ensuring optimal team performance. Office Operations: It is His duty to ensure
the efficient functioning of the office operations. This includes managing office
supplies, coordinating facility maintenance and repairs, organising office spaces
and implementing security measures to protect company assets. The
ORGANIGRAM of BICEC is as seen below:
 DIRECTEUR D’AGENCE (BRANCH MANAGER)

RESPONSABLE ADMINISTRATIF (ADMINISTRATIVE MANAGER)

CHARGE DU CCP 2 CCP 3 CHARGE DU

CLIENTELE PRODUIT
PARTICULIERS

(CCP 1)

CASH TELLER 1 CASH TELLER 2

THE ORGANIGRAM OF BICEC BRANCH AT LIMBE

CHAPTER THREE
 ACTIVITIES CARRIED OUT BY THE INTERN

3.1. Activities carried out by the student during the internship

As an intern at BICEC bank, there where various activities that the intern was
involved in. Here are the tasks and responsibilities the intern carried out as an
intern at BICEC bank:

1. Assisting with customer service: the intern helped customers with their
inquiries, provide general information about the bank's products, and assist them
with account-related activities, Where ever the intern could with their knowledge
of the bank, helping the customers in filling out deposit and withdrawal forms
for those who haven’t totally understood the steps and what to fill in the form.
Challenges also came about in the sense that a few times the intern couldn’t fully
understand some of the information giving by customers of the bank to fill in. A
copy of the deposit and withdrawal forms are available on the appendices
attached to the back of my report

2. Shadowing bank employees: I had the opportunity to shadow and observe

the different bank employees to gain an understanding of their roles and
responsibilities. This includes The Account Managers (2), The Responsable
Administratif (Administrative manager), Charge du produit and risk and the
Chief Account manager, but of course every one of these workers have their duty
to fulfil in BICEC LIMBE, so during busy working hours especially at the end of
the month where customers will come in large numbers to collect salaries and or
settle bills and debts, the intern would make sure to be available for any
assistance needed rather than shadowing this time because experience they say is
the best teacher, and also the French language proved difficult for me to
understand sometimes.

3. Conducting research: the intern often did research assignments, such as

analysing market trends, studying competitors, or conducting industry analysis.
This research would go further to help me make informed decisions about new
products or services. As statistics have proven new commercial banks such as
BICEC LIMBE are being established rapidly so having knowledge of how the
banking domain works is what will separate top banks from others and there was
a challenge because the intern cannot fully analyse the banking system without
knowledge of how other commercial banks operate on a national scale.

4. Data entry and administration: The intern assisted with data entry tasks
such as: Registering and Editing customer bank cards using Microsoft Excel and
there after checking the cards sealed in envelopes to know which has been
registered so as to delete from the system, maintain customer records, printing
statements of accounts (Account History) and perform general administrative
duties, it was a not so difficult task as the intern’s current level of education
made the software familiar and easy for the intern to work with

5. Assisting with financial analysis: the intern worked closely with more
experienced professionals to analyse account statements, evaluate
creditworthiness, and assess investment opportunities for the bank's clients,
giving clients alternative choices and helping them grow financially and become
credit worthy so as to benefit from opportunities and merits granted by BICEC
LIMBE

6. Shadowing loan officers: At BICEC bank in Limbe, the account managers

also serve as the loan officers and loan recovery officers. The intern had the
opportunity to shadow loan officers (Account managers) on client visits and
keenly watched and listened in on the process, various requirements,
qualifications and terms of giving out loans, assist with loan documentation:
Printing out loan contracts to be signed by both the Charge clientèle (Account
manager) there after scanning the files and sending to the account manager who

initiated the loan, whereby he/she later on send the hard copy of the loan file
through mail (DHL) to the regional office at the BICEC agency at Bafoussam in
the West region, and learned about the process of approving and disbursing
loans.
8. Learning about compliance and regulatory requirements: Banks operate
under strict regulations, so as an intern I received training on compliance
procedures and assist with tasks related to ensuring the bank's adherence to
regulations. Some regulations I adhered to are as follows: when discharging a
customer’s new bank card which a new pin code for the card is required, the
code and the card shouldn’t be held at the same time by anyone except the
customer himself, customers are not allowed in the back office (which is located
behind the office of the cash tellers, noise of any kind is not tolerated at the bank,
customers are required to leave their heavy loads outside before entering the
bank.

9. Professional development opportunities: At BICEC bank I was offered

priceless and very helpful knowledge in sessions I had with account managers or
providing me with skills relevant to the banking industry, such as financial
modelling, risk management, or customer relationship management (which is the
most important skill for a banker to have).

10. Networking and mentorship: In the Internship experience the intern

observed valuable networking opportunities. I had the chance to connect with
professionals in various positions at the bank, attending few of their meetings
held on new information passed on to the various, and was assigned mentors
who provided guidance and advice for their future career, but also putting into
practice hard work and respectful humility.

3.2 Focus area: Enhancing Efficiency and Security in Cash Transactions at

BICEC Bank, Limbe
Internships provide invaluable opportunities for practical learning and skill
development. During my internship at BICEC Bank in Limbe, the intern had the
privilege of gaining insights into the operations related to cash deposit, cash
withdrawal, and transfer order forms. This experience shed light on the
significance of efficiency and security in these essential banking processes.
Cash deposit procedures form a fundamental aspect of banking operations. At
BICEC Bank, the intern observed the meticulous verification and documentation
processes involved in accepting cash deposits from customers. The emphasis on
accuracy and attention to detail not only ensures customer satisfaction but also
contributes to the overall integrity of the bank’s financial transactions.
Similarly, the protocols for cash withdrawal are designed to prioritize customer
convenience while upholding stringent security measures. Understanding the
importance of identity verification and authorization in withdrawal requests
highlighted the bank’s commitment to safeguarding the interests of its clients.
Moreover, witnessing the prompt and organized disbursement of funds
underscored the significance of streamlined processes in meeting customer needs
effectively.
In the realm of transfer order forms, the intern gained valuable insights into the
intricate mechanisms governing inter-account transfers and external remittances.
The adherence to regulatory guidelines and internal controls underscored the
bank’s dedication to preventing fraudulent activities and ensuring the seamless
transfer of funds. Furthermore, the integration of technology in managing
transfer orders showcased the bank’s commitment to embracing innovation for
enhanced operational efficiency. The internship experience at BICEC Bank in
Limbe underscored the pivotal role of efficiency and security in cash
transactions.

By prioritizing these aspects, the bank not only fosters trust and confidence
among its clientele but also contributes to the stability and reliability of the
financial system.
This experience has instilled in me a profound appreciation for the meticulous
orchestration of cash-related processes and the imperative need for continuous
improvement in aligning with evolving industry standards. In conclusion, the
internship at BICEC Bank in Limbe provided a comprehensive understanding of
the intricacies associated with cash deposit, cash withdrawal, and transfer order
forms. The commitment to upholding efficiency and security in these domains
not only reflects the bank’s dedication to customer-centric services but also
serves as a testament to its unwavering pursuit of excellence in the financial
landscape. This experience has undoubtedly enriched the intern’s perspective on
the vital synergy between operational proficiency and customer trust in the realm
of banking. Below are examples of the forms used in dealings with cash at the
bank:

Cash Deposit form: this form is used when a customer or any individual, wishes
to send money to an account of a customer at BICEC. It can be the account
holder himself in the case where he wishes to deposit money into his savings
account or a current/checking account.

Cash Withdrawal form: this form is used by an account holder without access
to a cheque-booklets or an ATM card (when concerned with withdrawal from a
checking/current account and not a savings account) he/she fills this form they
pass it at the Cash tellers to withdraw from his account.

Transfer order: this form is filled when the client wishes to send more from his
current account to his savings account, or from his current account to his BICEC
JR or BICEC IMMO account (Created for next of kin or children who are still
minors) and when big companies or corporations with accounts at BICEC wish
to pay their workers’ salaries (who have accounts at BICEC). These 3 forms are
as seen in the appendices at the end pages of the report.

3.3. Comparison between theory and practice; Accounting in theory and

accounting in practice, as observed during my internship at BICEC Bank Limbe,
exhibit both similarities and differences that are crucial for aspiring accountants
to comprehend.

3.3.1. Similarities
Theoretical Foundation: Both accounting in theory and practice rely on the same
fundamental principles such as the matching principle, accrual concept, and
consistency principle.

Regulatory Compliance: In both realms, adherence to accounting standards like

IFRS is essential to ensure financial statements’ accuracy and transparency.

Importance of Ethics: Ethical considerations play a significant role in both

theoretical accounting frameworks and practical applications to maintain
integrity and trust in financial reporting.

3.3.2. Differences

Real-world Constraints: While accounting theory provides a structured

framework, practical accounting faces real-world constraints like time pressures,
resource limitations, and unexpected challenges that demand adaptability.

Technology Integration: Practical accounting heavily relies on accounting

software and tools for data processing and analysis, which may not be
extensively covered in traditional accounting theories.

Decision-Making Complexity: In practice, accountants often encounter complex

scenarios that require judgment calls and strategic decision-making beyond what
is typically taught in accounting theory.

In conclusion, bridging the gap between accounting theory and practice is

essential for accounting professionals to navigate the complexities of the
financial landscape effectively. By understanding the nuances of both realms,
aspiring accountants can develop a holistic approach towards financial
management and reporting, ensuring success in their careers.

Overall, while accounting in theory provides the foundation for financial

reporting, practical work at a bank involves the application of these concepts and
principles to meet the specific accounting needs of the banking industry.
 CHAPTER FOUR:
EVALUATION OF THE INTERNSHIP

4.1. Strengths and weaknesses of BICEC LIMBE:

Strengths: The main points on a positive point of view where by which the
excellence of an organisation is evaluated on.

Weaknesses: The setbacks and drawbacks associated with BICEC LIMBE.

4.1.1. Strengths of BICEC Bank in Limbe, Cameroon:

1. Established reputation: BICEC Bank is one of the oldest banks in Cameroon
and has been operating for over 60 years. Its long history and established
reputation make it a trusted institution in the local community.

2. Wide range of products and services: BICEC Bank offers a comprehensive

range of banking products and services, including current and savings accounts,
loans, mortgages, investment solutions, and insurance. This allows customers to
access various financial services under one roof.

3. Strong network: BICEC Bank has a strong network of branches and ATMs in
Limbe, making it easily accessible for customers in the area.

4. Customer service: BICEC Bank is known for providing good customer

service and maintaining strong relationships with its clients. It has a team of
dedicated and knowledgeable staff who are committed to meeting the needs of
their customers.

5. Corporate social responsibility: BICEC Bank actively participates in

corporate social responsibility initiatives and contributes to the development of
the local community. This involvement helps to enhance its reputation and build
trust among customers.

4.1.2. Weaknesses of BICEC Bank in Limbe, Cameroon:

1. Limited digital banking services: BICEC Bank has been slow in adopting
digital banking technologies. This may be a disadvantage for customers who
prefer to conduct their banking transactions online or through mobile banking
apps.

2. Limited international presence: BICEC Bank primarily operates within

Cameroon and has limited international presence compared to other international
banks. This could impact its ability to serve customers who require international
banking services or travel frequently.
3. Limited accessibility outside of Limbe: While BICEC Bank has a strong
presence within Limbe, its accessibility may be limited in other areas of
Cameroon. This could be a challenge for customers who live in remote areas or
prefer to have access to a bank branch nearby.

4. Limited product innovation: BICEC Bank to some degree lags behind

competitors in terms of product innovation. This could make it less attractive to
customers who are looking for innovative and personalized banking solutions.

5. Potential security risks: As with any financial institution, BICEC Bank faces
security risks related to fraud and cyberattacks. It is important for the bank to
invest in robust security measures to protect its customers' information and
funds.

4.2. Positive and negative experiences encountered

Experiences can be seen in different ways, either positive and negative or in-
between. In this section the intern will be writing about both the positive and
negatives experiences the intern encountered.

4.2.1. Positive experiences during the internship at BICEC bank Limbe:

1. Learning Opportunity: The internship provided a great opportunity to learn

about the banking industry and gain practical experience in a professional
setting. The intern was able to apply knowledge and concepts learned in the
classroom to actual work tasks and responsibilities.

2. Supportive Supervisors: The supervisors at BICEC bank Limbe were

supportive and provided guidance throughout the internship. They were willing
to answer questions, explain processes, and offer feedback on their work. This
helped me grow and develop as a professional.

3. Exposure to Different Departments: During the internship, the intern had

the opportunity to work in different departments within the bank. This exposure
allowed me to understand the different functions and operations of a bank and
gave me a well-rounded experience.

4.2.2. Negative experiences during the internship at BICEC bank Limbe:

1. Lack of Hands-on Experience: There were instances where the intern felt
limited in the amount of hands-on experience I was given. Some tasks were
repetitive and did not challenge me to learn new skills or gain a deeper
understanding of the work.

2. Limited Interaction with Clients: Due to the nature of their role during the
internship, the intern had limited interaction with clients. This made it difficult
to fully understand and appreciate the client relationship aspect of the banking
industry.

3. Limited Innovation Opportunities: the intern noticed that the bank had a
more traditional and conservative approach to banking practices. This limited
the opportunities to explore innovative ideas and technologies that could
enhance the bank's operations and customer experience.

4.2.3. Objectives attained: The objectives of the internship done at BICEC

Bank Limbe varies depending on the specific program of the department which
is Accounting and work at the bank was highly scared towards banking and
finance. However, these objectives include:
1. Gaining practical experience: One objective of their internship was to be
provided as a student with an opportunity to apply the knowledge and skills the
intern has learnt in a real-world setting. This includes tasks such as providing
customer service, assisting with financial transactions, or supporting the bank's
operations.

2. Learning about the banking industry: Another objective of their internship

at BICEC Bank Limbe was to familiarize their self with the banking industry and
its various functions and operations. This included learning about different types
of accounts, understanding banking regulations and procedures, and becoming
familiar with financial products and services.

3. Developing professional skills: Internships are also designed to help students

develop and enhance their professional skills, such as communication,
teamwork, problem-solving, and time management. These skills are essential for
success in the workplace and can be honed through daily tasks and interactions
with colleagues and clients.

4. Networking and building connections: Internships provide an opportunity

for students to network and build connections within the industry. This can
involve interacting with bank staff, attending meetings or events, and engaging
in professional development opportunities. Building relationships with
professionals in the field can be valuable for future job prospects and career
advancement.

5. Understanding the bank's culture and values: Lastly, their internship at

BICEC Bank Limbe aimed to provide me with insight into the bank's culture,
values, and work environment. This includes understanding the bank's mission
and vision, its commitment to customer service, and its ethical and social
responsibilities.

To attain these objectives, as an intern at BICEC Bank Limbe, the intern was
assigned specific tasks and responsibilities that align with these goals. The intern
also received mentorship and guidance from experienced professionals within
the bank, participated in the bank’s operations and tasks, and had the opportunity
to observe and learn from various departments and functions within the bank.
Progress and achievement of objectives was evaluated through performance
assessments, feedback sessions, and periodic meetings with supervisors or
mentors.

CHAPTER FIVE
RECOMMENDATIONS AND CONCLUSIONS

5.1. Recommendations:

Based on the intern’s observation during the internship at BICEC Limbe, some
recommendations for an improvement in services at BICEC bank Limbe,
Cameroon are:
1. To establish interesting financial packages and more serviceable products
which can help clients to facilitate their in-bank transactions smoothly.

2. To provide clear and accurate information about the account details and the
process of withdrawing money from abroad.

3. To update their online banking services so as to promote E-banking

opportunities for clients and ease their displacement expenses

4. To improve the customer satisfaction by establishing their banking services in

other remote areas so as to draw out more potential customers

5. To create wider connections abroad so as to establish an international brand

name and call in more traveling clients who wish to enjoy their services home
and abroad

6. With the intervention from the headquarters of BICEC situated at Avenue de

Gaulle, Bonanjo, Douala. Reconstruction of the offices situated at 2nd floor of the
bank branch should be taken up, so as to increase the size of the workforce and
facilitate customer attention and interaction.

7. To consider raising the temperature slightly to make the office more

comfortable and cosier. Studies have shown that warmer temperatures can
improve performance and reduce errors in cognitive tasks.

8. To locate a space for idea storage, such as a bulletin board, a whiteboard, or a

digital platform, where the employees can share their thoughts, suggestions,
feedback, or achievements. This can encourage innovation, communication, and
recognition among the employees.

9. Ask the employees what they want and need from their office space and
involve them in the design process. This can increase their satisfaction,
engagement, and loyalty to the bank, as well as reflect their values and culture.

5.2. Conclusion:
The conclusion of this report about the internship done at BICEC bank in Limbe
Cameroon goes thus:

The internship at BICEC bank in Limbe Cameroon was a valuable learning

experience that helped the intern develop their professional and personal skills.
During the two-month internship at the Banque Internationale du Cameroon pour
l’Epargne et le Credit (BICEC) branch in LIMBE, the intern had the opportunity
to work in various areas of the bank, such as customer service, account
management, product marketing and client management. The intern learned how
to perform different tasks, such as requirements for opening and closing
accounts, processing transactions, creating attestations of accounts.

One of the most important skills the intern developed during their internship was
communication. The intern learned how to communicate effectively with
different types of customers, colleagues and managers. The intern improved their
oral and written communication skills, as well as their listening and feedback
skills. The intern also learned how to adapt their communication style to
different situations and cultures. Communication is essential for any career,
especially in the banking sector, where customer satisfaction and trust are
crucial.

Overall the two months industrial internship done at the Banque Internationale
du Cameroon pour l’Epargne et le Credit (BICEC) branch in LIMBE, was a very
thrilling and knowledgeable academic journey for the intern which added on a
lot of experience and real time analysis of how the outside world works as
compared to studies in theory.