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MABALACAT CITY COLLEGE

PRACTICUM REPORT: ASIA UNITED BANK


1276 Miranda Street, Angeles City, Pampanga

And

ADELIZA G GUINTO ACCOUNTING FIRM


AMC Building, Canono Compound, 75 Jake Gonzales Blvd, Angeles City, 2009
Pampanga
January 15 – May 24, 2018

A Practicum Report Presented to the Faculty of


Institute of Business Education, Mabalacat City College,
Mabalacat City, Pampanga

In Partial Fulfillment of the Requirements for the Degree of


Bachelor of Science in Accounting Technology

By:
Mary Joy V. Orsua

April 2017
MABALACAT CITY COLLEGE

APPROVAL SHEET

This journal entitled “PRACTICUM REPORT: Training Experience in

“Asia United Bank” and “Adeliza G Guinto Accounting Firm” prepared and

submitted by Mary Joy V. Orsua, in partial fulfillment of the requirements for the

degree Bachelor of Science in Accounting Technology has been examined for

acceptance and approval.

Approved by the Committee with a grade of __________.

Accepted and approved in partial fulfillment of the requirements for the degree

Bachelor of Science in Accounting Technology.

COMMITTEE

Reynaldo L. Laxamana, MBM

Practicum Coordinator

Reynaldo L. Laxamana, MBM Dr. Myrna C. Calma, CPA

Dean, Institute of Business Education VP for Academic Affairs

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ACKNOWLEDGEMENT

First I would like to express my gratitude to Almighty God who has given

me strength to go through the process of internship. It was a great pleasure for me

to work in Asia United Bank (Angeles Branch) and Adeliza G. Guinto

Accounting Firm as an intern with the help of our Dean Mr. Reynaldo Laxaman.

I thank all the employees for being friendly and cooperative. I was taught

lots of important things through-out my internship career because of their proper

attention and cooperation. My deepest appreciation and special thanks goes to

Mr. Jefrey Pangilinan the Branch Manager of the Bank (Angeles Branch) and to

Mrs. Adeliza Guinto the owner of AGG Accounting Firm, and to the other

employees and staff in the accounting firm for extending their support in

compiling this report.

At last I must mention the wonderful working environment and group

commitment in our working place that has enabled me to deal a lot of things and

observe the activities during my internship period of five months.

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TABLE OF CONTENTS

TITLE PAGE

APPROVAL SHEET…………………………………………………………….. i

ACKNOWLEDGEMENT ……………………………………………………..... ii

TABLE OF CONTENTS………………………………………………………... iii

INTRODUCTION………………………………………………………………1

ASIA UNITED BANK

Mission, Vision & Objectives of the Company……………………… 2

Logo of the Company………………………………………………... 3

Location Map……………………………………………………….… 3

History/Background of the Company………………………………… 4

Organizational Structure……………………………………………… 6

Services Offered……………………………………………………… 7

ADELIZA G GUINTO ACCOUNTING FIRM

Mission, Vision & Objectives of the Company……………………… 8

Logo of the Company………………………………………………... 9

Location Map………………………………………………………... 9

History/Background of the Company……………………………….. 10

Organizational Structure…………………………………………….. 11

Service Offered..………...…………………………………….…….. 12

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CONTENT

Summary of Weekly Activities………………………………………15

Strengths..…………………………………………………………… 17

Weaknesses………………………………………………………….. 17

SUMMARY/CONCLUSION……………………………………………….... 18

RECOMMENDATION………………………………………………………. 20

APPENDICES

Appendix A - Photos During OJT Proper

Appendix B - Company Facilities and Employees

Appendix C - OJT Requirements

Practicum Endorsement

Certificate of Completion

Evaluation Form

Weekly Report

Appendix D - Grammar Critic Certification

Appendix E – Curriculum Vitae

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INTRODUCTION

On the Job Training or Practicum is a form of training taking place in a

normal working situation. On-the-job training, sometimes called direct

instruction, is one of the earliest forms of training. OJT is still widely in use

today. In fact, it is probably the most popular method of training because it

requires only a person who knows how to do the task, and the tools the person

uses to do the task. It is a one-on-one training located at the job site, where

someone who knows how to do a task shows another how to perform it.

Most importantly, On the Job Training or Practicum is a big thing for the

student. It is where they can really realize if they are really fit on their course, and

if they really want that certain chosen field of career. It is also an outlet to build

oneself. You can gain more self-confidence and self-esteem. More than the

learning you can acquire the discipline and values you can get from the people

you work with and the experiences that would teach you essential things. It is also

a way to develop your social abilities in a way of gaining new friends and

knowing new people in the work place. By such means as well you can learn to

adjust with the different and diverse attitude of workmates. It would be easy for

you to adjust in the future.

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AUB VISION, MISSION & VALUES

VISION

We are committed to be bank of choice, known for financial strength and superior

delivery of innovative products and services, driven towards total customer

satisfaction.

MISSION

We shall be guided by our chosen cooperative values of Commitment, Integrity,

Excellence, Leadership, and Teamwork in:

 Developing long-term partnerships with clients through the delivery of

responsive, innovative, and value-added products and services;

 Providing the delivery channels that are relevant to our market to ensure

convenience and increase the bank’s accessibility;

 Creating a dynamic and meritocratic employee work environment that

fosters mutual respect, provides professional and personal growth, and

encourages creativity;

 Dealing fairly with business partners; and:

 Ensuring optimum returns for our stockholders.

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LOGO OF THE COMPANY

LOCATION MAP OF THE COMPANY

Asia United Bank is located at 1276, Miranda Street, Angeles City,

Pampanga Philippines.

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HISTORY OR BACKGROUND OF THE COMPANY

Asia United Bank Corporation (AUB) is among the very few banks that was

granted a full-branch commercial bank license in 1997 and is operating until this

day. In 2013, AUB joined the league of Philippine Banks that have become

publicly listed and acquired universal banking status.

AUB was registered with the Securities and Exchange Commission (SEC)

on October 3, 1997. Its registered office and principal executive offices are

located at Joy-Nostalg Center, 17 ADB Avenue, Ortigas Center, Pasig City,

Philippines.

AUB was granted the authority to operate as a commercial bank under the

Monetary Board (MB) Resolution No. 1149 dated September 3, 1997 and

commenced operations on October 31, 1997. In 2012, it obtained approval from

the Bangko Sentral ng Pilipinas (BSP) to upgrade its license into expanded

commercial banking status. In 2013, the Bank was granted an authority to operate

as a universal bank under MB Resolution No. 356 dated February 28, 2013. The

universal banking license authorizes, AUB, in addition to its general powers as a

commercial bank, to exercise the following: (1) Powers of an investment house,

including securities underwriting and trading, loan syndication, financial

advisory, private placement of debt and equity securities, project finance and

direct equity investment, and (2) Power to invest in allied and non-allied

enterprises, subject to regulatory caps on the amount of investment relative to the

Bank’s capital and ownership percentage.

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AUB began as a joint venture between a consortium of Filipino Industrialists

(namely Jacinto L. Ng, Sr., Luis U. Ang and Jose S. Sandejas) and Taiwanese

investment banks (namely China United Trust & Investment Corporation and

China Development Industrial Bank). As of December 31, 2013, the Bank is now

a publicly listed company with three principal/substantial stockholders: Republic

Biscuit Corporation, Kuo Yu Philippines Holdings Corporation, and Lambda

Holdings Corporation.

To expand its business and distribution network, AUB has acquired three

subsidiaries as of December 31, 2014 as shown in the table below.

Principal Country of %
Subsidiary
Activities Incorporation Ownership

Rural
Rural Bank of Angeles Philippines 99.54%
Banking

Rural
Cavite United Rural Bank Philippines 100.00%
Banking

Asia United Leasing and Finance Corp


Leasing and
(AULFC) and its 100% subsidiary, Philippines 39.00%
Financing
Asia United Fleet

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ORGANIZATIONAL STRUCTURE

Asia United Bank – Corporate Structure

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SERVICES OFFERED

Asia United Bank is a commercial Bank which provides various banking

products and services in the Philippines. The company offers:

 savings account

 time deposits

 investment funds

 cash management services

 treasury and trust products

 auto loans

 home loans

 trade financing and remittances

CONTENT

SUMMARY OF ACTIVITIES

Visual Teller Kiosk, Pulling out checks, Stamping checks, Recording

checks, Stamping signature cards, Sorting signature cards, Scanning signature

cards, Filing documents, Sorting documents, Recording outgoing documents,

Encoding client’s information, Assisting Clients, Answering phone calls,

Validating deposit slips

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ADELIZA G. GUINTO ACCOUNTING FIRM

VISION AND MISSION

VISION

“To be an elite accounting firm serving entrepreneurs, small medium

enterprises and successful individual.”

MISSION

To provide my clients with exceptional service and results-driven solutions

by developing long-term partnerships with them through the delivery of

responsive, innovative, and value-added products and services

LOGO OF THE COMPANY

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LOCATION MAP OF THE COMPANY

HISTORY OR BACKGROUND OF THE COMPANY

Adeliza G. Guinto Accounting Firm is an accounting firm which provides

accounting and other related accounting services to all its valuable clients. It was

established in October 2000 by its owner, Adeliza Gotiangco Guinto, a Certified

Public Accountant who passed the CPA Licensure Examination in October 1993

with professional license number of 0090069 and an active member of Philippine

Institute of Certified Public Accountant- Angeles City Chapter. She graduated

Magna Cum Laude at HOLY ANGEL UNIVERSITY in the March 1993 with a

degree of Bachelor of Science in Business Administration – Major in Accounting.

She was a Senior Audit Associate of Sycip, Gorres, Velayo & Co.. ( SGV &

Co.,an Earnst and Young Global affiliate) from October of 2003 till October of

2006. Major clients handled in SGV includes: Sara Lee Philippines, Inc., Colgate-

Palmolive Philippines, Inc., Aboitiz Group of Companies, World Executives’

Digest, Ltd. (ASM Group), Philtread Tire and Rubber Corporation

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(FIRESTONE), Fila Philippines, Inc., Inchcape Testing Services Philippines,

Dyno Wesfarmers Philippines, Inc., Belares Food Corporation (Jollibee

Franchise). And from October of 1996 till October of 2001, she was the

Accounting Manager of Mimosa Retail Corporation, supervising the financial

operations of the following outlets: Shoes Unlimited, Bravo Shop, Tennis

Proshop, Shiseido Salon,Frankie’s Barbershop, preparing the monthly financial

statements and performing financial statement analysis, signing, accepting and

endorsing checks, promissory notes, letters of credit, and other instruments in

behalf of the Company, reviewing and approving the journal entries made by

accounting staff and supervising and reviewing the work of accounting staff

which includes preparation of cash and check vouchers, journal vouchers,

debit/credit memos and statement of accounts.

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ORGANIZATIONAL STRUCTURE

FIRM STRUCTURE

The firm composes of Adeliza G. Guinto, a Certified Public Accountant with

a professional license number of 0090069 and a Civil Service eligible. Her staff

includes: Dennis Guinto – Liason Officer, Sheila D. Gotiangco- Senior Staff

Auditor, Gina T. Pangilinan – Accounting Clerk and Maricris S. Zabala –

Accounting Clerk.

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SERVICES OFFERED

Adeliza Guinto Accounting Firm provides Accounting services such as

Financial/Special Audit of Client Corporations which initiates planning and

scheduling of audit engagements that includes risk identification, time budgeting

and staff requirements. It also provides Evaluation of Internal Control System,

which reviews and evaluates the effectiveness of internal accounting control

procedures, both for manual and computerized environment for the purpose of

determining the extent of reliance on the client’s accounting system, defining the

audit approach to be undertaken, and drafting audit programs. It recommends the

implementation of an effective system of internal accounting control where

weaknesses in the system had been noted. Accounting and Tax Services in

General, which include preparation of audit reports, financial statements,

financial analysis and other communications relative to the engagements. It also

assists clients in the preparation of annual income tax return and other reports

required by regulating agencies. It also handles registration of newly organized

companies with the Securities and Exchange Commission (SEC); Department of

Trade and Industry (DTI) and Bureau of Internal Revenue (BIR). It handles and

prepares monthly tax payments of clients such as value added tax, percentage tax,

withholding tax and income tax. It provides bookkeeping and other accounting

services to clients. Accounting services and management advisory services

including taxation with special emphasis in the field of finance, internal audit,

budgeting and systems design with opportunities for client’s growth and financial

stability.

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ASIA UNITED BANK

WEEKLY ACTIVITIES NARRATIVE REPORT

DATE SPECIFIC ACTIVITY/ ASSIGNED TASK

WEEK 1: Endorsement to the bank by Mr. Jefrey Pangilinan. As

Jan. 10-12, 2018 part of the orientation, the organization’s policies and

important guidelines were discussed.

WEEK 2: Depositing Checks via Virtual Teller Kiosk, Assisting

Jan. 17-19, 2018 Clients and Making money wrappers

Exam Week

WEEK 3: Opening new account for the clients, Answering

Feb. 01-02, 2018 telephone calls.

WEEK 4: Scanning Specimen Signature Cards.

Feb. 08-09, 2018 Depositing Checks via Virtual Teller Kiosk

WEEK 5: Assisting Employees and Clients

Feb. 14-15, 2018 Making money wrappers, and Answering telephone calls

Valentine’s Day celebration with the other employees and

our branch manager.

WEEK 6: Making new accounts or Opening new account for the

Feb. 23, 2018 clients.

WEEK 7: Opening new account for the clients.

March 02, 2018 Depositing Checks via Virtual Teller Kiosk

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ADELIZA G GUINTO ACCOUNTING FIRM

WEEKLY ACTIVITIES NARRATIVE REPORT

DATE SPECIFIC ACTIVITY/ ASSIGNED TASK

March 01-02, 2018 Endorsement to the accounting firm by Mrs. Adeliza.

As part of the orientation, the organization’s policies

and important guidelines were discussed.

WEEK 2: The OJT coordinator held an orientation. Endorsement

March 08-09, 2018 to the AGG ACCTG. FIRM. Filing of disbursement

receipts from different banks like BDO or Land bank.

Sorting of enormous number of invoices and packing

list for the month of March.

WEEK 3: The accounting trainer discussed the importance of

March 14-16, 2018 accounting software skills to the future accountants.

The admin held an appreciation day for the OJTs.

WEEK 4: Pooling of clients documents. Documents are pooled

March 23, 2018 together and data gathered were carried to the system.

Re-organizing the employees’ information filing

cabinet and filing of employees’ income tax return.

WEEK 5: Paying bills ( Pag- ibig, Electricity, and Internet

March 28, 2018 Conection)

Exam Week

WEEK 6: Encoding of data for input and output tax. Reviewing

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April 11-13, 2018 and confirmation of annual total purchases and annual

total sales to account for total value added tax.

Filing Income Tax Return online and printing.

WEEK 7: Answering telephone calls

April 17-19, 2018 Sorting documents

WEEK 8: Encoding of data for input and output tax. Reviewing

April 20, 2018 and confirmation of annual total purchases and annual

total sales to account for total value added tax.

WEEK 9: Filing of BIR documents for the month of March to

April 26-27, 2018 April. Assisting the payroll section in printing pay slips

and distributing checks to the employees. Vouching of

invoices for the March.

Exam Week

WEEK 10: Filing documents by the name/ surname of the clients

May 11, 2018 Checking payroll

WEEK 11: Sorting documents

May 17-18, 2018 Making receipts for the pf – May 2018

WEEK 12: Answering telephone calls and filing documents.

May 22-24, 2018 Photocopying papers of the clients.

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ASIA UNITED BANK STRENGTHS AND WEAKNESSES

STRENGTHS DISCUSSIONS

Strong profitability It reports a record profit year over year.

Growing Expanding nationwide distribution network

nationwide resulting in consistently expanding deposit base.

Consistency in Consistent balance sheet growth and

achieving their profitability driven by an efficient operational

goals structure.

Technologically Tailored and innovative customer service and

advanced touch points supported by an advanced IT system.

WEAKNESSES DISCUSSIONS

High cost of opening In opening an account, their balance deposit is a bit

an account higher which some cannot afford to open one.

Due to high levels of employee qualification in terms of


High staff costs
academic expertise and experience

Fluctuating foreign Exposure to the Euro/US dollar exchange rate, with an

exchange rates impact on growth and results.

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ADELIZA G. GUINTO ACCOUNTING FIRM STRENGTHS AND


WEAKNESSES

STRENGTHS DISCUSSIONS

Most of the staffs have all the


Experienced/Skilled Workforce knowledge, skills and capabilities
that are essential in the field of work.

Since it is along the high way it easy


Good Location for the customer/clients to go/visit
the firm.

WEAKNESSES DISCUSSIONS
Since the space is limited they cannot
add more storage for all the
Limited space and number of staff documents or another document for
their different clients, and the staff
are multi –tasking just to accomplish
the work that is needed to be done.

Slow or Lost of Internet connection It causes delay of work.

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SUMMARY/ CONCLUSION

I’m blessed and I enjoyed at the same time working with my mentor and the

other staff members at my practicum. I’ve learned a lot about professionalism,

setting goals and what to do in certain work-related situations. I believe going

through this practicum experience got me to become a little more confident in the

work I do. This will also help in the future as I am better prepared for what will

be expected in a work environment. At first, I did not expect my practicum

experience to influence my career goals.

Being an intern is not really that easy especially for us because we had a

hard time doing work and academic stuff at the same time. If only the practicum

would be taken alone without any other subjects, students will not be that

stressed. If it is possible to be taken in summer vacation, I think it will be much

better. However, after working in such a positive work environment, and learning

a lot of things about the real world.

I have decided that when I do find a career, I still need to further explore a

lot of things, but I like the fact that I could be directly benefiting people and my

work would give me purpose and enrich my life.

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RECOMMENDATION

Throughout the course of our internship in Asia United Bank and AGG

Accounting Firm I’ve learned a lot with the guidance and advice from

professional up to the lower rank of the company. Most importantly, I have

observed many positive and negative points during this period of five months that

I would like to address. First of all, I would like to begin with the Asia United

Bank, I am thankful to become one of on the job trainees even for a small period

of time because I was able to experience the actual scenario in the working

environment of a bank.

All employees are friendly, approachable and understanding. Although I

mistakenly input an amount to a different side, my superiors are still patient

enough to guide me on my work. They are always asking if you are in good

condition, share their food and share ideas how to survive in a company. The

lessons will really give a big impact on my future career. The employees are busy

all day in their assigned tasks through it you can really see on them the real

situations in the working place but still having a big smile going home.

Secondly in Adeliza G Guinto Accounting Firm, I love the way how AGG

Acctg. Firm take good care its employees/stuffs. It is really employee oriented. It

provides many benefits in health, allowances, transportation expense, and

medical. Those benefits give the employees motivation to work hard and be at

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their best in every endeavor to contribute to the short and long term goals of the

company. The best thing I admire with AGG Accounting Firm despite of having

only 3 accounting stuffs is that it could still manage to finished their work on

time.

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APPENDICES – ASIA UNITED BANK

Appendix A. Photos During OJT Proper

Encoding Account Numbers of Clients

Depositing Checks via Virtual Teller

Kiosk

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Appendix B. Company Facilities and Employees

AUB – Angeles Branch Employees

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Appendix C. OJT Requirements

Endorsement Letter

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Certificate of Completion

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Evaluation Form

Asia United Bank

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Adeliza G Guinto Accounting Firm

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ADELIZA G GUINTO ACCOUNTING FIRM

Appendix A. Photos During OJT Proper

Filing Client’s Documents

Paying Bills ( Pag-ibig Fund, Electricity, Internet Connection)

Encoding information in eBIRforms online

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Weekly Report and Weekly Attendance Sheet

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AGG Accounting Firm Family

Mrs. Adeliza G. Guinto

Mrs. Shiela Gutiangco, Mrs. Gina Pangilinan, and


Ms. Maricris Zabala

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Mrs. Adeliza Guinto and Jenny Paguio

The lady on my left me is

Ms. Renwella Serrano an

Intern also from Angeles

University Foundation.

The lady in the middle is Ms. Rola

Ayson an Intern also from Holy Angel

University.

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Appendix D. Grammar Critic Certification

CERTIFICATION

This certifies that the Practicum Report of

Mary Joy Orsua has been duly edited and scrutinized

by the English Critic and Satisfaction whose signature is

affixed below.

Mr. Jack Poral

English Critic

Date Signed

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Appendix E. Curriculum Vitae

MARY JOY V. ORSUA


Block 59 Lot 09, 29Street Phase1, Madapdap Resttlement
Mabalacat City, Pampanga
maryjoyorsua.19@gmail.com

EDUCATION

Mabalacat City College


Brgy. Dolores Mabalacat City
2014-2018
Bachelor’s Degree in Accounting Technology

TRAININGS AND SEMINARS ATTENDED

TRAIN TAX LAW (Tax Reform for Acceleration and Inclusion)


Organized by Ramon T. Quito Accounting Office, held at Maharajah Hotel,
Angeles City Pampanga, Philippines.

20th Regional Mid Year Convention : “LEADERSHIP AND CAREER


SEMINAR”,“SOFT SKILLS SEMINAR”, “CORPORATE FINANCE
SEMINAR”, & “TAX UPDATES AND NEW TAX BOARDTOPIC
SEMINAR”
Organized by the National Federation of Junior Philippine Institute of
Accountants Region III Council, held at Naga City, Camarines Sur, Philippines.

Business Forum : “TAX UPDATE 2015”


Organized by Institute Student Council (Institute of Business Education), held at
Angeles City, Pampanga, Philippines.

Unleashed CPA Within : “ACCOUNTING UPDATES AND CPA


STRATEGIES”
Organized by Institute Student Council (Institute of Business Education), held at
Mabalacat City, Pampanga, Philippines.

“EMOTIONAL INTELLIGENCE OF ACCOUNTANTS”


Organized by Institute Student Council (Institute of Business Education), held at
Mabalacat City, Pampanga, Philippines.

“PROFESSIONALISM IN THE FIELD OF BUSINESS”


Organized by Institute Student Council (Institute of Business Education), held at
Angeles City, Pampanga, Philippines.

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“BRAND BUILDING IN THE DIGITAL SPACE”
Organized by Institute Student Council (Institute of Hodpitality Management ),
held at Angeles City, Pampanga, Philippines.

“SOCIAL EVENT TREND AND INDUSTRY”


Organized by Institute Student Council (Institute of Hodpitality Management ),
held at Angeles City, Pampanga, Philippines.

AFFILIATION

Junior Philippine Institute of Accountants (JPIA)

SKILLS
Proficient in Microsoft Office including Excel and Powerpoint
Working knowledge of QuickBooks
Excellent written and verbal communication skills
Able to manage and implement Social Media campaigns
Excellent editing skills

ACHIEVEMENTS

Got certificate of Recognition (Dean’s List) for the Second Semester Academic
Year 2014-2015 and (President’s List) for the First Semester Academic Year
2015-2016

PERSONAL DATA
Birthday : August 19, 1998
Religion : Born Again Christian
Civil Status : Single

CHARACTER REFERENCES
Reynaldo L. Laxamana
Dean, Institute of Business Education
Mabalacat City College
Contact No. 09333151358

Mryna C. Calma
Program Head, Mabalacat City College
Contact No. 09175106128

I hereby certify that the above information are true and correct to the best of my
knowledge and belief.

_________________
Mary Joy V. Orsua

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