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Iag Narrative Report
Iag Narrative Report
HOSPITALITY
TRAINEE:
GANTE, IMELDA A.
July 2019
TABLE OF CONTENTS
A. HISTORY --------------------------------------------------------------------------------- 1
B. MISSION ---------------------------------------------------------------------------------- 2
C. VISION ------------------------------------------------------------------------------------ 3
V. NARRATIVE REPORT
VI. DOCUMENTATION
X. CERTIFICATE OF COMPLETION
XI. RESUME
XIII. APPENDICES
A. MEMORANDUM OF AGREEMENT
B. ENDORSEMENT LETTER
C. COMMUNICATIONS
With the deepest gratitude and appreciation, I humbly give thanks to the people who
To my parents, thank you for your unending love and support, for providing all my needs
financially and morally, for your patience and understanding, for your pieces of advice
To the institution where I am studying, University of Saint Louis Tuguegarao where I was
To all my professors who patiently imparted their knowledge in order for us to acquire a
better future.
To SyCip Gorres Velayo & Company and all the staffs, thank you for all the learnings
I’ve acquired during my internship and for making me realize the true essence of
Above all, to our Almighty God for His immeasurable love and for all the blessings He
has showered upon me. With all my heart and soul I thank Him for guiding me during my
training in this On-The-Job Training. For the provisions and wisdom He has bestowed
upon me. For keeping me and my love ones safe. I thank Him for His comfort when I
was to give up. By His grace I was able to finish without any conflict.
Sincerely,
Imelda A. Gante
COMPANY PROFILE
Company Profile
History
Established in 1946 as W. SyCip & Co., the Firm changed its name
twice: first in 1947, to SyCip Velayo Jose & Co., and again in 1953, to
services firm with eight offices across the country. The Firm employs
SGV & Co.’s track record has remained unmatched in the region. We
SGV & Co. became a member practice of Ernst & Young Global
play a critical role in building a better working world for our people,
Since it was established in 1946, SGV has held true to its core values
achieving our late Founder Washington SyCip’s vision for the Firm –
Vision
SGV remains strong because the Firm and its people believe that in
working world.
Core Values
Our Values
Assurance
To grow and create value, your company must have the trust of its
this trust and gaining access to global capital markets. Whether you
assure the fairness of your financial information — SGV & Co. can
help.
auditors are equipped with our global audit process management and
Tax
NOW, more than ever, enterprises need to find new ways to align their
tax strategies with their overall business needs, while meeting their
concerns.
Advisory
dominating the workforce and we’re all being asked to adopt new
more everything.
• Could you execute your strategy better by seeing digital from every
angle?
• Do you change your people or change the way your people work?
attacked?
you new insights and equip you to operate in an entirely new way.
It’s clear that the more we all connect, the better able we are to meet
the complex challenges of our times, and forge new p aths to growth.
connections.
Transaction Advisory Services
Our professionals can help evaluate, structure, and execute the deal
celebrating the Firm’s people and values, 2016 was a year for the
books.
the SGV’s Got Talent competition, the Staff Anniversary Party, and a
Services Hub. 2016 also marked the 95th birthday of SGV Founder
Wash SyCip.
the top auditor of choice for the country’s business entities listed in
Store.
MG-8 Assurance
Ricmel John Mangulabnan( Senior 1), Arthnie Duque (Senior 1), Ryan Arcega (Senior 1)
Staffs:
Alvin Halog
Juluis Caezar
Jen-Jen Cruz
Nino Roman
that requires students to undergo such training within a specific number of hours. It
computations that they have learned from the school. It also helps the students to
Sycip Gorres Velayo & Company is the firm I was assigned to conduct my On-The-Job
Training. I started on June 10, 2019 and have my July 12, 2019 to complete the required
Two Hundred (200) hours for my OJT. SGV & Company is the largest professional
services firm in the Philippines that provides assurance, tax, transaction and advisory
services. I was assigned to the Assurance Department with Ms. Karen Marie Reyes,
Senior Associate as my Supervisor. On the other hand, the works was given by Mr.
Davidson Nerizon, Ms. JenJen Cruz, Mr. Ricmel Mangulabnan, Mr. Irvin Garcia, Mr. Jim
Villa, Mr. Marc Angelo Mercado, and Ms. Mary Angeline Berjamin, all are well
experienced staff who became our mentors and who guided and assisted us in order to
The objective of this On-The-Job Training is to enable the college students to experience
to work in an actual working environment within Two Hundred (200) hours, to let the
students apply the learnings and skills gained from the school, to help the students in
building their competence and develop one’s professionalism in dealing with people, and
to enhance their social and communication skills in order for them to interact with others
effectively.
On my first week at SGV & Co., Dr. Rovelle Siazon, our Internship Adviser indorsed us
to the said Company. Thereafter, Ms. Camille of SGV Talent Team oriented us of what
the company is all about – their people, mission, vision, and the dos and don’ts inside
the company. We were assigned to our cluster specifically MG-8 under Partner Lloyd
Kenneth Chua. I did footing on my first day and vouching of different transactions on my
next days. I was very excited but somewhat anxious about starting something new. I was
very afraid to do something wrong that it might affect the performance of the company.
Nonetheless, I’m grateful to have my colleagues beside me, thus, it made me
My second week of internship seems more challenging than the first one because of the
works I’ve done. I was asked to read, compare, and provide the difference of the
accounting policies that was implemented by the Group and its Associate. This task
made me realize that Accounting Standards form a big part in terms of audit and I’ve
learned that there are some instances that the accounting policies implemented by the
Group might be different with that of its Associates. I’ve also learned to do the actual cut-
On my third week of internship, I was tasked to do the bank reconciliation for our client.
This task requires me to become a keen observer to the bank transactions because we
are to find about fifteen transactions in the records of different banks and see if such
transaction really happened. I was also asked to classify taxes and licenses. Lastly, one
policies implemented by the Group and the Subsidiaries. This takes us a longer time to
finish because the Group has many Subsidiaries and we are about to read all the
On my fourth week of internship, I was given a chance to do the test of due dates and
test of aging of accounts receivable. The firm adopted the new impairment model under
IFRS 9 which provides allowance for expected credit losses and is also different from
their previous approach. On the third day for of fourth week, I, with my two colleagues
were transferred to Ortigas, the place of one of the Subsidiaries of our client company. I
got sick for two consecutive days but despite of that I still go for a work. We vouched
boxes of sales invoices dating from April 24, 2019 to April 30, 2019. This work also
Lastly, on my fifth week of internship, we did the clearing of accounts receivable. It was a
tough work for the three of us because we are about to clear the floating negative
balances of the accounts receivable arising from different transactions that seems to
appear unpaid where in fact it was already paid. The clearing of accounts receivable
started from 2014 up to present due to the adaptation of IFRS 9 which probably affects
To conclude, my internship at Sycip Gorres Velayo & Co. was a dream for me. It was a
privilege and pleasure of joining a team with dedicated auditors. We had our internship
when the season isn’t busy but we are lucky because the cluster that was assigned to us
is currently preparing their Interim Report, and that gave us a chance to experience a lot
of works. I’ve learned a lot about accounting and audit. Aside from that, I learned to
become more flexible, more patient, and more determined in doing my work. Having my
internship at SGV & Co. made me realize and appreciate the essence of becoming an
The university should conduct more trainings and seminars inside the school to expose
conducted when the auditing firms is in its busy season so they could accommodate
more interns. Lastly, when choosing an agency or firm for the internship, auditing firms
should be the priority because it will be a learning and working experience for the
students.
DOCUMENTATION