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INTRODUCTION
I have undergone internship program for 6 months (01/02/2015 31/07/2015).

Internship is a system on-the-job training. The firm that accepted me as intern is Rezdwan &
Co..
Rezdwan & Co. is a Secretarial and accounting firm which is provide a full range of
services such as accounting, assist in auditing, secretarial services, tax and consultation.
Rezdwan & Co. is a chartered accountants firm registered with Malaysia Institute of
Accountants (MIA) with registered number of NF 0565. It was located at 210B, 2 nd Floor,
Jalan Batu Unjur 7, Taman Bayu Perdana, 41200, Klang, Selangor.
The firm provides essential business services tailored specifically to each clients
requirements, thus company owners and management can focus on their core business. For
instance, their accounting and financial reporting services include a wide range of
bookkeeping, and accounting financial. For the bookkeeping service, the firm offers a
complete on-site or off-site, which mean they can complete clients books and records on
accrual basis. The firm mainly used QuickBooks and Mr. Accounting software to record the
clients transactions. However if the client prefer others accounting software such as UBS and
SQL, the firm will used the preferred software by client.
Other than that, Rezdwan & Co. offer tax services, such as prepared computation of
tax for their clients company.
Furthermore, Rezdwan & Co. also assist MNA & Co. and Azman Ahmad & Co. in
auditing works. MNA & Co. and Azman Ahmad & Co. will give a certain task to Rezdwan &
Co. to assist them, and then Redzwan & Co. will submit the complete task to them. They will
evaluate it. If there any unsatisfied, MNA & Co. and Azman Ahmad & Co. will ask Rezdwan
& Co. to make some adjustment.
Moreover, in company secretarial job Redwan & Co. has over 100 clients including
dormant, semi-active and active company. Rezdwan & Co. will serve the client and deal with
Companies Commission of Malaysia (CCM).

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JOB SPECIFICATION OR EXPERIENCE IN THE COMPANY.

The internship in Rezdwan & Co. enables me to understand, how the theoretical
knowledge of accounting can be applied to the practical situations. For me, theoretical
knowledge is not enough. It is because there lays a far difference between theoretical
knowledge and practical knowledge. Thus, many experiences and knowledge I gain during
my internship. During my practical training, my scope of work is accounting, secretarial,
assist in auditing and also assist tax agent in tax computation. These are briefly described
about my job in six month in this company.
2.1. Accounting work
I did a lot of works related to accounting using QuickBooks and Mr.
Accounting software. All the data and transactions are recorded into this system.
There are many ways to start key-in the data transaction in QucikBooks. But the most
steps I used to record the data in QucikBooks are follows:
i.

I need to check the audit report with previous management report. If there any
adjustment make by the auditor, I need to make journal entries to ensure the audit
report are same with management report.

ii.

Later, I will key-in all the documents given. I prefer to record the bank statement first
then reconcile it. This is to make sure that difference between bank balance shown in
an organisations bank statement, as supplied by the bank, and the corresponding
amount shown in the organisations own accounting records at a particular point in
time. Such difference may occur if a cheque issued by the organisation has not been
presented to the bank, a banking transaction, such as credit received or a bank charge
that has not yet been recorded in the organisations book and either the bank or
organisation itself has made an error. The entire amount from the bank statement I
record under suspense account. If there is provide information for the amount stated in
the bank statement, I will record under right account.

iii.

Then I record one by one of each transaction make by the organisation. I will search
the amount stated in documents given with the amount from bank statement. For
instance, the transactions that I will make are key in sales invoice, official receipt,
payment voucher, debit note and petty cash. If there is amount accrued from the
previous year, I need to find the payment or received for that amount.

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iv.

After all the documents have been vouch and there still have amount under suspense
account, I will tell Miss Nur Rozilah and she will ask the client regarding the
supporting document for the suspense transaction. Miss Nur Rozilah will pass the
supporting document to me when she received from client.

v.

Later, after the suspense account is zero, I will generate and print Profit and Loss
Statement, Balance Sheet Statement and file it in accounting file.

There are many type of companies which is from various industry I have attend during my
practical training. For instances:
i.

The company is principally engaged in the business of gold trading.

ii.

The company is principally engaged in the business of entertainment production

house.

iii.

The company is principally engaged in the business of property leasing and project
management consultant.

iv.

The company is principally engaged in the business of property sales and marketing
agency.

v.

The company is principally engaged in the business of travel and tours agency.

vi.

The company is principally engaged in production and supply of beautician and health
care products.

vii.

The company is principally engaged in the business in construction.

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Secretarial work.
There are several clients that I attend in secretarial works. However, I only
have done changes of directors documentation works. When I receive the task from
Miss Nur Rozilah, she will explain and pass to me the details that need to be
documentation. The details of the new director have been given by Miss Nur Rozilah
to me. I will record the details of new director and all the changes of directors
including remaining and resigning directors. The details need to be record in several
documents such as:
i.

Return Giving Particulars in Register of Directors, Managers And Secretaries and

Changes of Particulars (Form 49).

This Form 49 is the shows or to informs of any changes in directors. Whether

appointment and resignation of companys director.

ii.

Statutory Declaration by a Person before Appointment as Director, Or By a

Promoter before Incorporation of Corporation (Form 48A).

This form is to ensure the consent from the person before appointed to be director
of the company.

iii.

Form of Transfer of Securities (Form 32A).

This form is for the transfers of share from one shareholder to other shareholders
by cause of buying or giving a share to others.

iv.

Allotment of Shares.

This is such an application form to buy the shares and the person must submit it
together with the application monies.

v.

Director Resign Letter.

This letter is being prepared for the director whose want to resign from the client
company.

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vi.

Director Circulation Resolution (DCR).

This resolution will pass to all directors in AGM. Its to inform and to resolve
about the changes in directors and shares of the company.

vii.

Shares Certificate.

The shares certificate will be issue to the new shareholder with details of
company, numbers of units, price of shares and common seals.
After drafting all these documents, I will inform Miss Nur Rozilah and she

will check. If there any correction needs to be done, she will pass the documents to
me back. However, if she satisfied she will print the documents and courier to the
client. Client needs return the documents to Rezdwan & Co.. Then, Rezdwan & Co.
will send Form 49, Form 48A and Extract of DCR to the CCM. If there any transfer of
share, Form 32A will be pass to LHDN for stamp duty.
2.3. Assist in audit work.
My scope of work in assisting in auditing is to draft the audit report. Drafting
audit report is being done by using Microsoft Words and Microsoft Excel.
First, I will refer from the previous audit report to ensure the closing balances
of the accounts are match with current year opening balances. In Rezdwan & Co. the
audit program assist us in computation and auditing of fixed asset, debtors, creditors,
bank, term loan, hire purchase, deferred tax and audit fee accounts. The audit
programs will be used manually. The audit programs are helpful in auditing work.
Thus, I used the audit program before I key-in in to Microsoft Excel and Words.
After key-in the amount into Microsoft Excel and Words, I will use word from
last year audit report and make any changes to ensure it suitable for the current year
audit report.
Then, after done drafting audit report, the draft will be passing to Miss Nur
Rozilah. After Miss Nur Rozilah has checked the draft she will pass it to Mr.
Rezdwan. It will be courier to the audit firms (MNA & Co. or Azman Ahmad & Co.)
after been checked by Mr. Rezdwan. If the audit firms not satisfied the audit draft they
will ask for correction and the draft will send again to them.

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2.4. Taxation work.

My assignment in taxation is such as computation of deferred tax in drafting
audit report, e-filing for company and individual client.
In computing of deferred tax, I will use Microsoft Excel. First, I will list all
assets which are acquired during current year. Then, I will compute the written down
value (WDV) for all assets which still eligible for capital allowance. The amount of
WDV will be less by net book value (NBV) of assets. Then, 20% of remaining
balance will be as the current year deferred tax (whether its deferred tax assets or
liability).
To calculate total tax liabilities, net profit before tax will be added by
disallowable expenses and less by other income. The total from that computation then
will be less with total capital allowance and losses brought forward. Then, 20% from
the total computation will be less with current year deferred tax assets or add if the
deferred tax is liability. Lastly, it will be add by tax liability brought forward.
However, if there negative value after adding disallowable expenses (if the
company suffer loss from the current year) or after less capital allowance and losses
brought forward there will no tax liability in the current year.
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SWOT ANALYSIS.
Rezdwan & Co. is a small size firm. Thus, its easy for me to understand and observe
the management and operation of this firm. There are several strength, weakness, opportunity
and threats that I can point out in the SWOT analysis based on my observation during
practical training in Rezdwan & Co..
3.1. Strengths.
Rezdwan & Co. constantly focus on quality in serving their clients. The
strengths of this firm is their good relationship with their clients. The clients trust with
the firm and their clients already know who the person in charge is for their company.
By creating good relationship with clients it will ensure the stability of Rezdwan &
Co.. Most of book keeping job are done in-house. However when the clients request
the book keeping job done in their office, Rezdwan & Co. will send their staff to the
client office.
The precision in book keeping is very important in Rezdwan & Co.. All
transaction must be complete with details memo or description. Thus, clients will get
details information from the financial statement prepared by Rezdwan & Co..
Since Rezdwan & Co. is a small company, it will be easy to manage it worker and
to maintain their office. The understanding between the owner and the permanent staff
will create an efficient work environment.
3.2. Weaknesses.
The weakness that I observe in Rezdwan & Co. is the employees turnover of
this firm is very high. There are only one permanent staff currently in that firm which
is semi senior accountant and also my supervisor.
The changes of person in charges of an assignment will take high time
consuming. To continue previous staff job who is already quit will takes time. This is
because to study the job done by the previous staff and amend the error made by the
previous staff will highly time consuming. There is highly time consuming to track
back the errors and at the same time the new staff need time to study and adapt to the
environment of the firms.

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Work overload by the only one permanent staff also will make the work
overdue. This is because my supervisor needs to check all of practical student work
before she passes it to Mr. Rezdwan. At the same time she also has to attend her own
job and serve the clients needs if clients have urgent queries or request.
The other weakness may be comes from safety measures taken by Rezdwan &
Co.. There have no CCTV placed and burglar alarm systems at Rezdwan & Co., it
only relies on lock at the front door during business hours and pad lock after business
hours for the firm security. Firm security is important because clients documents are
being kept there.
3.3. Opportunity.
Rezdwan & Co. has good relationship with it clients. Thus, from the good
bonding, Rezdwan & Co. can create loyalty from its clients. It means that it has
opportunity to growth in future because of the stability of income. When the firm
growth it will increase the income to the firm.
Rezdwan & Co. will get opportunity to running it business in lower costs if it
remain the permanent staff and keep taking practical student to assist the staff. Thus,
the operation cost will be lower.
Rezdwan & Co. will get opportunity to gain it clients if move to Shah Alam.
This is because there have many established company and developments in Shah
Alam. By taking opportunity from the development, there will have many companies
will establish in Shah Alam that will use Rezdwan & Co. service if it move to Shah
Alam.
The other opportunity is Rezdwan & Co. can gain many clients if it hires more
permanent staffs. Thus, the management of it office and operation will be more
systematic and all the work will meet the deadline.
Rezdwan & Co. also has opportunity to raise their client by merger with other
firms. It may be can create strong brandname if Rezdwan & Co. merger with others
firm. Thus, it will create trusted brandname and it will attract more clients.

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3.4. Threats.
Every business has their risk. Rezdwan & Co. are facing threats from various
sides such as environment and business.
Environment threat comes from safety of the area of the firm. Many
companies operate in the area of Rezdwan & Co. has been rob. Last year, Rezdwan &
Co. has being rob and two units of laptop have been robbed. Lack of security in this
area the main factor contributing to criminal activities.
Furthermore, business threat comes from others company secretary and
accounting firms. There many other company secretary firms and accounting firms in
this area may contribute to client change their company secretary or accounting
services providers. Some client also may have to change their company secretary and
accounting services provider because of changes of clients operation office. These
factors can contribute to decrease in income of Rezdwan & Co..

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RECOMMENDATION.
There are several steps that Rezdwan & Co. can take to overcome it weaknesses and
threat.
First, to ensure the safety of the firm Rezdwan & Co., Rezdwan & Co. has to place
burglary alarm systems to secure the firm from robbery activities. This important to ensure
clients document and the firm properties are safe.
Furthermore, CCTV also should be place in area of the firm. Its important because it can
help in detecting if there any robbery activities in the firm.
On the other hand, I have another recommendation for Rezdwan & Co. regarding safety
of firm. Rezdwan & Co. possibly changes their operation to other place that more safety than
current place which is Taman Bayu Perdana, Klang. This is because robbery activities are
active in the firms current area.
The firm should hire more staff to smooth the operation of the firm. Working system can
be more systematic when there has segregation of duties and authorization. Thus, every job
has its own person in charge and responsible for that job. This step can reduce work overload
suffer by the staffs. It also can reduce the time consuming to complete the job so it can meet
the deadline. When the job meet the deadline clients will feel comfortable with the firm. Thus
it will create client loyalty of the firm.
In my opinion, all these recommendations are will reduce the risk of firms operation and
for safety of the firm.

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CONCLUSION.
In a nutshell, this internship makes me know about the rules, regulation, management
and environment of an organization before getting a job. Meanwhile, the theoretical
knowledge applied in practical field. So, these two may be synchronized. All the experience
that I have gain during my practical training is invaluable. I learn how to act as professional
accountant of the firm.
The things that I like while doing my practical training in this firm are my supervisor
and my friends are welcome me to ask them if I do not understand about anything related to
my work. They will explain to me until I really understand about it. Therefore, I experienced
that helping others is a must to achieve success.
Furthermore, from this internship program, I have also realized that there still a long
way to go to become a professional in this profession and there are lots of improvements that
need to be done in myself.
Besides that, it changes me to always think positively and do not makes decision
based own assumption. It also give me chance and space to develop my interpersonal skills,
my communication skills become much better and it helps me to be more independent and
trained me to become more confidence in facing the real working world outside there. In
addition, I had learned how to prepare a full set of account from the beginning until the end
of process. I never got this experience without going through this practical training.
Finally, I hope Rezdwan & Co. will become more success in future, continue deliver
experience and inspire many more practical students.

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