Emma's Internship Report-1

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1TABLE OF CONTENTCHAPTER ONEGENERAL INTRODUCTION1.1 Background of

Internship.................................................................................21.2 Characteristics of
Internship............................................................................21.3Objectives of Internship…………….
……………………………………41.4 Importance of Internship to the Organisation and the
Interns....................41.5 Aim and objectives of internship......................................................................51.6
ORIENATION OF INTERNS AT BUEA P&T CORPORATIVE
CREDITUNION......................................................................................................................71.7 Limitations
of Internship..................................................................................91.8 DEFINITION OF TERMS USED BY
THE COMPANY..............................9CHAPTER TWOPRESENTATION OF THE ORGANISATION2.1
BACKGROUNG OF THE COMPANY........................................................132.2 PRODUCTS/SERVICES
OFFERED BY THE COMPANY......................152.3 ORGANIZATIONAL STRUCTURE OF THE POST
&TELECOMMUNICATION COOPERATIVE CREDIT UNION LIMTED...17CHAPTER THREEACTIVITIES CARRIED
OUT BY THE INTERN3.1 ACTIVITIES CARRIED OUT BY THE INTERN......................................21

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23.2.1 ACTIVITIES AT THE FINANCE DEPARTMENT................................223.3.1 ACTIVTIES IN THE

ACCOUNTING DEPARTMENT.........................243.3 OTHER
ACTIVITIES....................................................................................273.4 A REPORT OF TASK CARRIED OUT
BY STUDENTS ASSIGNED BYTHE SCHOOL OF
BUSINESS............................................................................293.5 COMPARING THEORY AND
PRACTICAL.............................................30 CHAPTER FOUR SWOT ANALYSIS, CONCLUSION AND
RECOMMENDATIONS4.1 SWOT ANALYSIS..........................................................................................334.2
RECOMMENDATIONS................................................................................374.3
CONCLUSION................................................................................................38REFERENCES..........................
............................................................................39CHAPTER ONEGENERAL INTRODUCTION1.1
Background of InternshipMost business colleges, universities and professional institutes warrant their
students to undergo a season in practical on what has been as theory is called

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3internship. In so doing, they need to be committed in placement to attachment toany established

organization that is related to their pursued professional career.Bearing in mind that it broadens the
reasoning capacity of the intern socially or otherwise, it serves as full-time or part-time services
rendered which can be paid or unpaid.Internship is an opportunity to integrate career related
experience in toundergraduate education by participating in a planned and supervised work. It also
provides real world experience to those looking to explore or gain the relevantknowledge and skills
necessary entering a particular career field. I was privilegedto do my internship for a period of one
months inPost and TelecommunicationCorporative Credit Union Limited, Molyko.It covered a period the
month of 25thFebruary to the 22nd March 2023 and I had the opportunity to be guided by Mrskoffi
Edith who acted as my supervisor for this period.1.2 Characteristics of InternshipA good and effective
internship has certain characteristics which include thingslike the period and the general organization as
stated below:An internship contributes to the student’s personal and professional developmentthrough
challenging work assignments and it is completed before the studentgraduates from the university.An
internship should balance the work need of the organization and the learninggoals of the
interns.Internships promote academic, career and/or personal development.

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4Internships are distinguished from a short –term job or volunteer experience in thatthere is an
intentional “learning agenda” structured according to the experience to be gained.The duration may be
anywhere from eight weeks to two years, but typically last thecourse of a semester.Internships are
planned and scheduled through consultation with the department or university so as fit into the
undergraduate experience.It involves a supervision component that is mentoring and educational.
Thissupervision is carried out at the organization.It includes career related experiences that complement
what is learned in theclassroom. This simply means matching theory to practical.The student will have a
reflection and evaluation process at the conclusion of theinternship.Internship is most successful when
the student, the university and the employer allshare responsibility in making it valuable experience.In
summary, an internship program should provide the student with meaningfulwork experience, and the
employer with a qualified employee to carry out thework. An internship should not be created solely to
carry out clerical and/or lessdesirable tasks, interns should be challenged by and learn from their
internship inways that contribute to their educational and career goals.1.3Objectives of InternshipThe
main objective of my internship is simply to match theory to practical and thiswill enable me to be ready
for the job market.

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5Internship is also meant to help strengthen my professional skills and interpersonalrelationships in a

professional setting.To allow me to get acquainted with business practices and procedures used
invarious organizations.To provide me with preliminary work experience that can prepare me for my
futurecareer.1.4 Importance of Internship to the Organisation and the InternsThis internship is
important to the Organisation, the Interns and the University1.3.1 Importance to the Organisation1) The
interns upgrade the organization with latest ideas of operating the business. 2) It is with internship that
the organization will connect to the academic progressof its field of operations.3) It reduces the day to
day work load and activities carried out in the organization.1.3.2 Importance to the Interns 1) It exposes
the intern to employers2) It trains the interns to be acquainted with the working environment and
theactivities carried out there.3) Internship helps to improve upon the intern communication skills,
manner of approach through the Expenditure Service or Department and their manner of dressing in the
society.
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6 4) During the internships students are expected to match theory with practical.1.3.3 Importance to
the University1)Strengthen the relationship between the student and the department if the experience
is facilitated by the university.2)Department can benefit through feedback from the employer.3)Help
with the retention and graduation.1.5 Aim and objectives of internship1.5.1Aims of the Study1)
Internship aimed at integrating a career related experience into undergraduateeducation by
participating in a planned and supervised work.2) Internship is aimed at providing working experience.3)
Internship is a relatively short term in nature with primary objective on gettingsome job training and
applying what were thought in the classroom.1.5.2 Objectives of the studyMain Objectives The main
objective of internship is to equip the students with knowledge,experiences and to prepare the students
for the job market. Here the student tries tolink theory and practice.Specific ObjectivesI.Market
students for employment thus curbing the risk of employment.

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7II.Enable students to be self-confident, productive intellectually andotherwise.III.It allows students to

get acquainted with their field of specialty and procedures used in their various departments.IV.To
provide students with preliminary work experience that can prepare them for their future
careers.V.Internship builds up professional ethics in students and also adds tothe student’s knowledge.
It also stands as a testing ground for theknowledge acquired in school and to develop prospective skills
onhow to manage common problems in one’s field of studies( Banking and finance).VI.It also helps the
students to develop personal and interpersonalrelationship with other professionals in the field.VII.It
also helps one to become more time conscious and to haveknowledge on how office environment looks
like and how tointeract with things related in one’s field of studies in a deeper manner.VIII.Moreover, it
also helps trainees to acquire professional skillsrelating to specific disciplines.1.6 ORIENATION OF
INTERNS AT BUEA P&T CORPORATIVE CREDITUNION INFORMATION TECHNOLOGYFor information
technology induction, we were told how to use company’s computersand the wireless internet. For the
computers, we were not allowed to put in USB keys or what so ever. We were equally not allowed to
bring our laptop to the company but we

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8were allowed to work on the company’s computer but in case there was a need, the internhas to take
permission from his/her supervisor .We were also not allowed to usecompany’s internet for personal
use such as downloading videos, movies and other entertainment things which aren’t meant for office
purpose. If caught in this act, theintern’s contract will be suspended for misuse of company
property.COVID-19 MEASURESAll workers and interns were given a talk how to protect ourselves from
the covid 19 andwe were first ask to wear mask everyday especially when in direct contact with
clientsand also buckets and water was made available both inside and outside of the company toenable
us wash our hands as many time as possible. Gel and disinfectant were equallymade available since
most at times we had to be in contact with money and other things.This talk was to sensitize us on the
dangers of this disease in our community.SAFETY INDUCTIONHere, all the interns were told the Do and
Don’t of the company in respect to safety andsecurity of the organization. And were also told that
security in the organization waseverybody’s business. We were trained how to use the safety gas in case
of any danger.And there was a room we were all called to gather in case of any risk.WORKING AND
CLOSING HOURSWork was from Tuesday to Saturday every week and work was to start from 8:00 am
inthe morning and end at 4:30pm daily. Saturday was consider as a half day so we were tofinish work as
1pm precisely. And we were to sign our name when we come to the officethat is the guard writes the
time you come in the morning and you sign same thing wheneverybody closes, this is to enable your
superior check the time you came in and it wasalways worthwhile to come 30 minutes earlier to avoid
coming after your superior.BREAK TIME

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9Break time was very important and had to be respected effectively. Break time it’s onehour from
12pm to 1pm precisely and everybody is to be back from the office at exactly1pm but in case you are
caught up with something, you have to make it known to your supervisor .RESPECT OF HIERACHYIntern
had to respect every employee no matter the position he/she is having in thecompany. We were told to
work as a team and the main reason for this was to provide productive working relationship this was
improve everyone chances of developing asense of belonging, so we can connect with peers and do the
best at work. We were not totalk back to your boss and in case we are it should be done with
respectCOMPANY’S POLICIESInterns were explain certain company’s policy like a code of conduct that
we are tofollow maintain modesty. Firstly, we were told to be very respectful and tolerant toclients
because a member is always true so we had to have good working ethics that is nomatter the member is
rude, we were told not to respond back or act impulsive. As anintern you are not to work with your
emotions instead you are to always wear a smile thisshows a positive attitude being at work and this
greatly affects your job performance.Another code of conduct of the organization is thedress code, we
were told to dress like professionals because we are representing the company. Behaviors like
smoking,chewing gum, eating and using phone during hours, wearing ear piece at work. This is toavoid
distraction in the work place and it’s consider unprofessional in the image of thecompany. We were not
to gossip or talk about co-workers boss or anybody in thecompany.1.7Limitations of
Internship1.Sometimes it is costly since most students cater for their needs whileon internship with little
or no support from the organization.

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102.Confidentiality. In all organizations, not every information is givenout to the non workers.3.Time
Limit. Considering the time stipulated for this undertaking, it issometimes short for all information about
the organisation to be gotten by the intern.1.8 DEFINITION OF TERMS USED BY THE COMPANY Buea Post
and Telecommunication Corporative Credit Union has a common name theyuse that is P & T credit
union for their day to day activities;BPTCCUL : Buea Post and Telecommunication Corporative Credit
Union Limited . It isa Cameroonian microfinance company located in the southwest region of the
country,more precisely in Buea. Its aim is to be a leader in the credit sector in this region and it branches
by offering opening accounts, sales of currencies, money transfers, internaltransfer and wagering
provision of loans.CAMCUUL : Cameroon Corporative Credit Union League is a network of 208
creditunion that also offers micro finances services . P & T is affiliated to CAMCUUL . Thismeans that
Buea P & T credit union is connected with Cameroon Corporative CreditUnion League.SOLIDARITY
FUND: This is insurance for your money in case of any uncertainty likeflood, theft, and dead of a
member and other.SOCIAL FUND: This is like a trouble fund in meeting houses. In case of the death of
amember, the sum 100000frs is given to the family.REQUISITION FORM: It is an internal document that
employees use to purchase aspecific product or service. The employee describes the product and why it
is needed.The form is now sent and signed by the manager and accountant for review and approval.

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11DAILY COLLECTION: It is a person employed to collect funds or money from peopledaily most at
times it is for saving.DEFAULT LOAN:It is when a borrower fails to pay back a debt according to
initialarrangement.DELINQUENCY:It simply means you are you are behind on payments that is
paymentsis not made by the due date as established in the loan.OVERDRAFT:It is a short term loan
borrowing operated only by current accountholders that is salary owners and through this they can be
able to withdraw more thanwhat is in their current account by filling information on the overdraft
form.CONTROLLER:It is a management level position responsible for supervising thequality of
Accounting and financial reporting of an organization.FINANCIAL CONTROLLER:It is a senior level
executive who acts as the head of Accounting and oversees the preparation of financial reports such as
balance sheet andincome statement.CASH RECONCILIATION:It is the process of verifying the amount of
cash in a cashregister as of the close of the business. Its purpose is to ensure that the cash
balancerecorded aligns with the entity’s actual cash balance in the company’s bank account.PASSBOOK:
It is a book giving to members by credit union in which all deposits,withdrawal and earnings of a
member saving account is recorded.ACTIVE MEMBER: Member who fulfills condition of minimum
number of transactions per year with the credit union as stated from time to by the
assembly.COOPERATOR:It is member of a credit union.BOD: Board of director. They are policy makers.
They ensure the finances of the creditunion are handled properly, approves and monitors the annual
budget.

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12SP:Supervisory board. It is a group of individuals chosen to promote their interestthrough the

governance of the credit union.PART TIME WORKERS: These are individuals or more precisely employees
whowork less than a specified or full time worker. They work less than a specified number of hours
during standard work week. They mostly work in shifts and the shifts are mostlyrotational.FULL TIME
WORKER:It is full time job an employee works for a minimum number of hours defined as such by the
employer.AFFILIATE: It is a financial or non-financial company that is related by either
commonownership or control example P&T affiliated to CAMCUUL.ATM:Automatic Teller Machine. A
machine activated by a magnetically encoded cardor other medium that can process a variety of banking
transaction. Example of bank transaction is withdrawal.DEBIT:It is an account entry representing money
you owe a lender or money that has been taken from your deposit account.INACTTIVE ACCOUNT: It is an
account that has no activity, neither deposits nor withdrawals posted to the account for a significant
period of time.JOINT ACCOUNT:It is an account owned by two or more persons. Either party canconduct
transactions separately or together as set forth in the deposit account.LENDER:It is an individual,
financial institution or other entity that lends money withthe expectation that the money will be
returned with interest.
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13CHAPTER TWOPRESENTATION OF THE ORGANISATIONPRESENTATION OF BUEA POST AND

TELECOMMUNICATIONCORPORATIVE CREDIT UNION LIMITED MOLYKO, BUEA.2.1 BACKGROUNG OF
THE COMPANYThe Buea P&T credit union started in 1963, when Rev.Fr. Jansen, a Dutch priest, servingat
Njinikom , Northwest Region , at the time , introduced credit unionism in WestCameroon. The initial
savings was 2100fcfa and there was eleven members. That is howthe idea moved out of the Northwest
Region to the Southwest and ministerialdepartments picked on it so as to make the idea popular and the
people at that timedecided to attach the idea to services. That is how the ministry of Post and

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14Telecommunication came in as a satellite organization to push forward the idea. The staff of P&T
credit in Buea, at the time, came up with the name P&T cooperative credit union.At the beginning, it
was decided that it should be open up to other interested people.Today, you will not find P&T workers,
all other individuals are invited to be part of theunion.Aware of the fact that Buea P&T Cooperative
Credit Union is established and managed by individuals, corporate bodies and other groups who share in
common the ambition toimprove on people’s living conditions, individually or collectively, through
theengineering and sharing of financial and related services.The Buea P&T Cooperative Credit Union got
registered on the 19/01/1994, with NoSW/CO/28/94/019, following the passing of law No 92/006 of
14th August 1992 relatingto cooperative societies and common initiative groups in the Republic of
Cameroon andits decree of application, and that on the 27/06/2001, it obtained a license with
No00353/MINEFI as an affiliate of CamCCUL, to exercise microfinance activities inconformity with laws
and regulations governing microfinance activities in Cameroon,and in particular CEMAC Regulations of
13 April 2002 laying down conditions for theexercise and control of microfinance activities in the CEMAC
Region.Recognizing the need to comply with the provisions of all legislations regulatingcooperative
societies, notably the OHADA Uniform Act of 15th December 2010governing cooperative societies, as
well as the Articles of Association of CamCCUL.And equally recognizing the need to promote and
preserve cooperative and governance principles, while mobilizing and channeling indigenous financial
resources in the form of productive microcredits within the rural and urban sectors, with the overall
goal of improving livelihoods, alleviating poverty and enhancing economic development.Article 2 of
OHADA Uniform Act of 15th December 2010, to the effect that CooperativeSocieties whose object is to
carry out financial activities shall be bound by community or national laws in that area.
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15As an affiliate of CamCCUL the credit union is obliged to work for the growth andsustainability of the
network as well as the micro finance industry in Cameroon.The credit union is committed to respect the
Articles of Association and policies of CamCCUL and to be bound by the powers of this umbrella organ as
provided by the lawsin force.Articles 390 and 392 of the OHADA Uniform Act governing Cooperative
Societies of the 15th day of December 2010 which enjoins existing cooperative socities to conform tothe
provision of the said law.The head office of the P&T credit union is in Buea, Fako Division of the South
Westregion precisely opposite Buea Central Police Station. There are three other brancheswhich include
the following;IDENAUBRANCHwhich is located at Block 20 in Idenau. The target is fishermen.MOLYKO
BRANCHwhich is 200m from the University of Buea gate. Where we carryout cash transfers for students,
studying in universities in Buea like HIBMAT, STMONICA, BIAKA, and UNIVERSITY OF BUEA and even
giving out part time and fulltime salary for workers of these institution.MUNYEGUE BRANCH at
Munyenge central town. The target here is cocoa farmersand operators.2.2 PRODUCTS/SERVICES
OFFERED BY THE COMPANY 2.2.1 PRODUCTS OFFERED BY BUEA P&T CREDIT UNIONCHEQUE BOOKLET:It
is a small book of cheques which is giving by the credit unionto members so you can collect money from
your account using your cheque.

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16PASSBOOK : It is a book given to all members who are fully register under membershipin the credit
union and it is made up of all transaction that have been credited and debitedin the account.SHARE
ACCOUNT:It is a saving or checking account at credit union. The accountestablish your share of
ownership and allow you to use the great features the credit unionhas to offer as a member.SAVINGS
ACCOUNT: It is an interest bearing account held at the credit union andwhen withdrawing more than
one hundred thousand in the saving account, you need tonotify to the union and usually with a fee to
pay depending on the amount.DEPOSIT ACCOUNT: It is a bank account maintained by a financial
institution inwhich a customer can deposit and withdraw money.MINOR ACCOUNT: It is children’s
savings account, it is a saving account for amember under age and it doesn’t allow the minor to make
withdrawals and deposit.GROUP ACCOUNT:It is a group of people that come into an agreement to open
anaccount most at times for savings.LOAN REPAYMENT:It is bank account that is set up as a repayment
method for amember who has been given a loan.2.2.2 SERVICES OFFERED AT BUEA P&T CREDIT
UNIONSALARY PAYMENT:This is payment the credit union pays employees for the work done and it is
mostly paid monthly.LOANS: This is money the credit union gives to a member in exchange of
repayment of the loan principal amount plus interest. Loans terms are agreed before any money
isadvanced. There are many kinds of loans in Buea P&T credit union which will behighlighted on;

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17SCHOOL FEES LOAN: This is loan taking by a parent or guardian to help them cover the cost of their
children in university.OVERDRAFT: This is a short term loan mostly taking by current account holders
that issalary earners.LOAN INSURANCE: This is what the company cover and protect eligible
memberswith company loan.FLEXIBLE LOAN: This is a pretty convenient loan for members because they
areallowed to borrow as much as possible because it permits you to increase or decrease theamounts
borrowed.SAVINGS INSURANCE: It is provided by the credit union for all eligible members asan
additional incentive to save regularly and maintaining savings with the company.CHEQUE CLEARINGIt is
simply the process whereby funds move from one accountto another to settle a check
payment.SOLIDARITY FUND: This is a fund in case of any uncertainty like flood, theft anddead of a
member.SOCIAL FUND:This is a fund giving in case of death of a member and usually given tothe
family2.3 ORGANIZATIONAL STRUCTURE OF THE POST &TELECOMMUNICATION COOPERATIVE CREDIT
UNION LIMTED

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18DESCRIPTION OF SOME MAIN FUNCTIONS AND HOW THE UNITS ARERELATEDGENERAL ASSEMBLYIt
is also known as general meeting and the general assembly grants a great deal of power to the board. It
is a meeting of all the members of an organization. It shall be the supremedeliberating organ of the
credit union. It is convened by the Board of Directors and it isheld at the registered head office of the
credit union. Members shall be informed 15days before the meeting and the meeting take place within
six months following the end of thefinancial year and in accordance with CamCCUL’s calendar for its
network. Its functionis to confirm the minutes of the last Annual General Meeting, deliberate on
themanagement reports. Listen to and discuss the reports of the Supervisory Board and theaudits
reports. Approve or adjust before approval, the appropriations of the net surplus.Equally approve the
operational and capital budget for the next financial year and alsoelect the President, Vice-President and
other members of the Board of Directors whenelections are due.SOURCE:BUEA P&T’S ACCOUNTANT,
September 22nd 2021.BRIEF DESCRIPTION OF SOME MAIN FUNCTIONS AND HOW THE UNITSARE
RELATEDTHE GENERAL ASSEMBLY

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19They are also called general meeting and it is a meeting of all members of anorganization. It is
equally the supreme deliberating organ of the credit union. Voting isdone by secret balloting. The
function of the general assembly to appoint externalauditors and this appointment it’s to be in
conformity with guidelines from CamCCUL. Itis equally responsible to elect the President, Vice president,
elect members of thesupervisory board and other members of the Board of Director when elections are
due. Italso have to approve internal regulations and adjust, approve or reject accounts. Membersare to
be informed of the general meeting at least 15 days before the meeting. In P&Tcredit there is two types
of general meeting that is the Education General Meeting (EGM)which takes place within the year
determined by the Board of Director and validated bythe General Assembly. It has three specific duties
that is to educate members on variousaspects of the credit union. To update members with current
information and legislationsconcerning the credit union and to plan and prepare for certain events that
come upduring the latter part of the year such as International Credit Union Day. The ExtraOrdinary
General Meeting(EOGM) is competent to deliberate on the following matterslike approving or amend
the Bye-Laws. Transferring the location of the head office,electing Board of Directors where there is
vacancy in the presidency and vice presidencyor where the number of Board of Directors has reduced to
less than half, to decide onaffiliation or disaffiliation from CamCCUL by at least a two third majority vote
of registered members and to address issues threatening the existence of the credit unionsuch as loan
delinquency crisis.THE BOARD OF DIRECTOR Board of Directors are elected by the General assembly and
he/she is elected for a term of three years renewable. The board of director is responsible for the
general direction andcontrol of the credit union. They are appointed by the general assembly. The board
of director is responsible for the management of the credit union. It shall be bestowed withthe widest
powers to act in all circumstances on behalf of the credit union. The boardshall exercise these powers
within the scope of the corporate purpose. The board shall be
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20answerable for any action taken by committees except the supervisory board. He isequally
accountable for any act of mismanagement as per the provision of the law. Theyhave specific functions
like specifying objectives of the credit union. They can equallyclose members account and ensure the
application of cooperative principles in themanagement of the credit union. They equally set training
and education program of members, staff and elected officials and ensure the safe custody of the credit
union’sassets and their prudent and profitable use. They are also responsible for employing,empowering
and ensuring discipline among staff and terminate them if necessary. Mostimportantly to ensure the
compliance with network policies, the cooperative law, microfinance regulations, the OHADA Uniform
Act and any other regulations governing theactivities of credit unions.SUPERVISORY BOARDThe credit
union needs to have a supervisory board and it doesn’t need to be more thanfive and not less than three
in Buea P&T credit union. The main duties of the supervisory board is to evaluate programs of the credit
union, count cash regularly and make andmake recommendation to the board of directors and
management. They equally listen tomembers complaints and submit such complains to the board of
director for solution.They also prepare and present reports to the board of director and to the general
meeting.They can also cooperate and seek assistance from CamCCUL and report anyirregularities
observed to the board of director and CamCCUL. They are also responsibleto find out if the credit union
carry out their duties in the best interest of its members of the credit union.THE MANAGER The Buea
P&T credit union has a full time manager who is appointed by the board of director and assign to do
manager function necessary for the day to day operations of thecredit union. The manager shall perform
functions under the supervision of the board of directors and within the limits of power conferred to
him/her. The manager is responsible

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21for implementing the policies laid down by the board of director and representing thecredit union
vis-à-vis third parties within the limits of the power delegated to him/her bythe board of director.
He/she will equally be responsible for drafting and submitting tothe board of director for approval. Also
he/she is to prepare the accounts for the financialyear or for any other period requested or define by
the board of director. Ensures the proper custody of cash receipts and payments, draft periodical
management reports and present to the board of director and perform his/her duties under the
authority andsupervision of the board of director which shall appoint and fix his/her salary, promoteand
terminate him/her in accordance with the law in force.It is good to note that No person shall be
appointed or continue to act as Manger/GeneralManager if he/she has been sentenced to an
imprisonment term for dishonest behavior like theft, misappropriation, embezzlement of public funds,
fraud, and breach of trust,forgery or indecency. No person shall be appointed if involved in fraudulent
and or improper loan grantingoccasioning loss to the credit union.And No person shall be appointed if
he/she involved even through an intermediary or occasionally, in any activity competing with and/or
likely to be prejudicial to theactivities of the credit union.The manager may be present in board of
director meetings in an advisory capacity, to present the accounts and give necessary explanations to it.
He/she has to ensure theimplementation board of director decisions. He/she shall not vote in decision
making.

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