Name of the Actual Company being selected i.e the business company being profit-making should be a manufacturing, that has the high-scale operations from the city the company operates.

Reviewer and Reporter: This is you!

Purpose of the work: that really gives you the opportunity to consider and appreciate the actual accounting processes in the Company.

Actual data obtained: witness for the reliability and validity of the actual works.

^vAnalysis and Review Reporting: Here is where you really "review" the actual accounting practices of the selected company.

oHow the accounting system is organized as functional unit in the company?

o What are the most common and significant forms of business transactions and accounting functions in the company?

oWhich forms of "Chart of Accounts" are in use:

oWhich of the theoretical accounting processes i.e.,

Journalizing: preparation of journal entries,

Posting to the ledger,

Trial Balance,

Worksheet for adjustments at period/year end, and the common forms of transactions (being accrued and deferred) adjusted actually,

^vDiscuss the elements in the Financial Statements (often audited) Presented in the year ended, near to this report. (Please attach the financial statements with the notes thereon).

^vReview the Applicability of the basic accounting principles and qualitative characteristics of the financial information.

Analysis and Review Reporting: on the cost accounting practices and the management accounting practices in the Company.

^vCost Accounting functions, Forms and nature of Costs maintain in the accounting system (if manufacturing: DM, DL and Overheads)

^vWhat forms of management accounting functions are practices in the Company:

oCost Behavior Analysis: Break-Even Analysis, CVP Analysis or Target Profit Analysis o Budgeting Process and Control: Master Budget and/or Flexible Budgets

oStandard Costing and Variance Analysis

^vProvide summary and conclusions, include specially issues you considered and reported in the practical visit related to the accounting processes.