THE UNIVERSITY OF DODOMA

COLLEGE OF BUSINESS AND ECONOMICS

FIELD PRACTICAL TRAINING REPORT

COURSE NAME: FIELD PRACTICAL TRAINING WITH RESEARCH COMPONENT

COURSE CODE:

DEPARTMENT:

HOST INSTITUTION:

REGION AND DISTRICT:hghgkbjh

INTERNAL SUPERVISOR: tfytvbgh nbnmmmm,,,,,l,llkm

EXTERNAL SUPERVISOR:

STUDENTS DETAILS:
NO. NAME REG. NUMBER PROGRAM
1
 DECLARATION

I CHACHA JOSEPH .P , declare that, except where references are made, this report
is a result of my own effort and initiatives which have been planned, organized
and presented without plagiarism and it has never been submitted in any other
academic institute for an award or in otherwise.
Candidate’s Signature…………………………………………………………….
 ACKNOWLEDGEMENT
The special thanks to the Almighty God for his guidance throughout the practical training, also the parents namely Mr. Yared Msindo&
Mrs. Esther Msindo who helped me in one way or another including the encouragement in all aspects of disappointments, Mr. & Mrs.
Kimena’s family who provided an accommodation for me during this training.
I appreciate the Shebrila& Co.for the allocation of practical training placement in their CPA (Certified Public Accountants) firm, their
cooperation, assistance and all advices.
Special thanks is dedicated to the resident manager Mr. Ndewicho B.J. Mosha and senior auditor Mr. Wazir for their sincerely help.
Also the special thanks are to be directed to the UDSM supervisor Mr. Gerald Tinali who played a great role in finalizing my practical
training.
EXECUTIVE SUMMARY
TABLE OF CONTENTS
LIST OF ABREVIATIONS (If Any)
LIST OF FIGURES(If Any)
LIST OF FIGURES(If Any)
 CHAPTER ONE
INTRODUCTION
1.1 Back ground of the Organization
Tron & Co is a Professional Services firm established in 2014 specialized in Tax Advisory
Services, Audit & Assurance, Accounting and Financial Consultancy. It’s a Certified Public
Accountants’ firm registered and operating in Tanzania. The firm is owned and managed by
local competent professionals with international qualifications and experience.

1.2 Vision Statement

To be the most knowledgeable and transformative in Accounting, Auditing and Taxation in
Tanzania and other countries with better standard employees and excellence customer
service.

1.3 Mission statement

The Mission of Tron & Co is to serve our clients with the highest-quality Tax Advisory,
Auditing, Accounting and Financial Services. We achieve this purpose through innovative
systems and the spirit and integrity of our people.

1.4 Organizational slogan/motto

Creating value, clearance excellence

1.5. Organizational core Values

 Independence: Internal auditors must have an impartial, unbiased attitude and avoid
any conflict of interest.
 Objectivity: Internal auditors must perform engagements in an unbiased manner,
based on an informed analysis of the issues and a clear understanding of the
operations affected.
 Proficiency: Internal auditors must demonstrate competence and due professional
care in their work.
 Quality: Internal auditors must provide accurate reports and timely, feasible, and
relevant recommendations.
 Integrity: Internal auditors must exhibit fairness, honesty, and ethical behavior in
their service to the organization.
 Alignment: Internal auditors must align their work with the strategies, objectives and
risks of the organization

1.6 Organizational Objectives

 Verifying the fairness and accuracy of books of accounts
 Providing better tax consultation
 Checking accounting policies
 Detecting errors and fraud
 Improving quality of business processes
 Providing assurance to investors
 CHAPTER ONE
 Checking assets and liabilities

1.7 Organizational core Activities and Services

 Tax Advisory Services
 Audit & Assurance
 Accounting and Financial Consultancy

1.8 Organizational clients

 Large corporation and small firms
 Sole proprietorship
 Entrepreneurs and all kinds of businesses

The number of clients excludes other spot audit examination assignments; include project write ups
or feasibility studies, preparation of manuals, handling tax returns, preparing tax appeals
memoranda, special investigations and other similar consultancy.
The number of clients currently
Thefollowing are some clients of Tron Firm
Table 3
NO. INDUSTRY INSTITUTION

1. Medical Institutions  Mafinga Pharmacies and other medical stores

2. Religious Institutions
3. Training Institutions  High Precision Technology Centre
 Institute of Commerce and Industry-Tanga
4. Manufacturing, Trade & Other  Friendship Textile Mill Ltd
Institutions  African Trade Development Ltd
 Roaf Industries Ltd
 National Ranching Co. Ltd
5. Donor funded projects  Millo Hospital- funded by EZE-WEST
GERMANY
(Construction of hospital & supply equipments)
 Idunda Afforestation- funded by EZE-WEST
GERMANY
(Promote & facilitate cultivation of trees)
 UNHCR- funded by IFAD 94/TF/TAN/LS/450
(Rehabilitation of refugee affected areas).
 CHAPTER ONE
Africare Tanzania- funded by Tanzania Swiss Trust
Fund for Zanzibar NGO/CBO
HIV/AIDS Prevention Project.

1.9 Organization Structure and Departments

1.0 Figure

CEO

Audit managers

Accounting & Finance Tax Consultant

 CHAPTER TWO
DESCRIPTION AND ANALYSIS (ACTIVITIES DONE)
Accounting and Finance and Taxation departiment
 I have mastered how to use ERP software for Accounts operations of maintaining stock cards,
supplier reconciliation among others.
 I have gained knowledge on how Accounts operations are carried out in a profitmaking company.
 I have gained immense knowledge on the acceptable code of conduct and dressing code in an office
environment in order to be presentable and not to offend any colleagues.

1.5.Activities of the firm

The following are the activities undertaken by this company;
i). Auditing, in this activity the company deals with management audits, audit of financial statements and
investigations
ii).Accounting, in this activity the company performs the preparation of financial Accounting manuals,
writing books of accounts and clearing accounts in arrears, preparation of financial regulations, preparation
of management accounting manuals, installation and customization of computer accounting packages
including Pastel Partner, MYOB, Tally Accounting package and Quick books
iii).Management, in the management file company returns, carry out liquidation and receiverships,
formation and floatation of new business in Tanzania, carry out feasibility studies and project appraisals,
carry on duties as duties as bill trackers or debt collectors.
iv).Tax consultancy, the activities performed are such as tax planning, filing tax returns, building up tax
memoranda for clients for filing and representation before the Tax Appeals BoardRoutine and taxation
mattersHandling all tax correspondence and appeals on behalf of clients
 CHAPTER THREE
PROBLEM IDENTIFICATION
3.1 Challenges/problems facing an organization (these must be challenges/problems that
you have observed during your practical training)
The stiff competition: Tron and Colberg firm has been around for a commendable number
of years. Well, so has competition. Not to forget the new and vibrant names in the field. As
in other fields, what makes your firm stand out from the rest? Why must a new client sign
you up? More significantly, why must your existing clientele stay? Break the clutter and
create your own identity and USP that’ll make you stand well above the others.
Handling discount requests from clients: Your client roster boasts of old ones and new.
Acquisition, as they say, could be simple. Unfortunately, the same can’t be said about
retention. In a hurry to sign on more clients, audit firms would need to acquiesce to their
terms. One of the ways the discount issue can be tackled is by adding high-value services
beyond tax and audit to help your firm grow. With AI by your side, assure them of your
flawless best.
When time is supremely vital: CPA firms work need to work with their customer interest in
mind all the time. Sure, if you were good and committed to your task at hand, there would
not only be an increase in the number of customers but also allied workflows for the same.
The ideal way would be to hire new resources or outsource. Else, you could temporarily hire
an experienced bookkeeping service provider to maintain your accounts.
3.2 Problems/Challenges you personally encountered associated with FPT
In conducting the auditing activities when some source documents are lacking namely receipts,
payment vouchers, deposit slips and bank statements the duties and tasks become a little bit
difficult.
And also in deciding the auditing fees charged to the clients, when the clients try to hide some
crucial information (not disclosed) namely memorandum of association, articles of association
and the income statement becomes difficult to reach conclusion on the fair discussion about
the determination of the auditing fee.
3.3 Your personal efforts to address the problems you encountered during your FPT

I used cooperative methods to solve the problems aroused in the course of performing the duties
and tasks assigned as part of the practical training namely informing the internal supervisor to
figure out the problem, and if it’s impossible to solve it with him the client representative should be
called in order to provide enough information concerning the particular case.
 CHAPTER FOUR
DISCUSSION
4.1 Here students have to discuss the relevance of what they have been taught in the class and
what they have been doing practically in the industry and identify a Gape…, a student must
show what is missing in the class that is found in practice, and what is in the class but not
applicable at all in the industry or it is outdated
4.2 The relevance of knowledge, skill development and new attitude
The knowledge I have which I attained it from my studies is relevance with the duties and tasks I
have been doing in my practical training, hence the most of materials I did in the course of my
studies are applicable practically in the firm.
In terms of the skill development, I have developed much of my skills in the context of my
profession, due to the fact that the supervisor trained me from the beginning of preparing the
books of accounts namely the accounting cycle.
New Attitudes, in the course of this practical training I got new attitude that I have to go beyond
accounting by undertaking further taxation course in order to help me to learn further the VAT
exclusive purchases and sales which are used in the income statement, also the VAT return to
TRA.
2.8. Expectation
i).Expectation before going for training
Before going for training I was expecting that I’m going to start auditing once I report for practical
training while things was quite different, hence once I reported to the firm, the internal
supervisor started training me on how all those books of accounts are being prepared which are
he subjected to auditing.
ii).Where they met
My expectation was not met to the extent that I expected, but once I started the primary issues
necessary for preparing me to undertake the auditing activities I found the duties and tasks
assigned to me very interesting and my expectations now are being achieved.
2.10.The gaps in teaching between theory and practice
In the process of leaning we consumed too much time in studying theories and very little time in
doing practical training; hence we apply very few concepts and theories which we always do in
the course of our study.
Therefore in order to reduce the gap between theory and practices, students undertaking practical
training should be given at least one semester of conducting the practices in their final year of
their university studies.
4.3 A student is required to show the new skills that he/she acquired in the course of doing FPT

Through working with the firm of certified public accountants and tax consultants many new things
I learned, these are falling under the following; Source documents are very important in auditing
 CHAPTER FOUR
and tax issues, payment vouchers in the Cash Book (Payments) must be recorded in sequential
order, sometimes the payment voucher is not recorded in the cash book, once the auditor review
can determine and ask for that particular voucher which is also subject to auditing, the payment
voucher s recorded on the date they drawn in the Cash Book, payment vouchers postings from the
Arch file to the Cash Book, date (Month and year) is very important, there are three types of trial
balancenamely;First closing trial balance which consists of the following;Cash and Bank balances
brought forward, Creditors and debtors brought forward, General reserves brought forward, Equity
or share capital brought forward, Second closing trial balance consists of the following namely the
accumulation of the current years’ transactions as summarized through the general ledger and final
trial balance encumbered the first trial balance and the second trial balance under which the
following information will be shown; As at 31st December, 20XX; Debtors outstanding, Fixed
assets, General reserves and Equity or share capital.
Now I understand well the errors which do not affect the trial balance practically when I was
examining the trial balance of ELTC Dodoma Diocese, Hekima Women Development Project.If
the tax invoice or delivery note is cancelled should be bound together with its copy to avoid
counting that particular invoice
 CHAPTER FIVE
CONCLUSION AND RECOMMENDATIONS
5. 1 Conclusion
Therefore, the practical training is very vital for the students who undertake their higher level of
education, hence it help them to link between the knowledge acquired in theories in the course of
their study and the practices they make n the different institutions, organizations, firms, public and
private enterprises.
Suggestions for those firms which maintain the manual books of accounts should be having four
analysis books namely two for the Cash Book namely Cash Receipts and Cash Payments, and also
two for the Bank Book namely Receipts and Payments, this helps the auditing process to be
undertaken easily and fast within the time frame of auditing services by specialization other
auditors can deal with the Cash Receipts and others with the Cash Payments.
And also, the clients should make sure that all necessary supporting documents are made available
during the auditing process such as receipts, payment vouchers, bank deposit slips, Cheque stubs,
invoices and bank statements and to be transparent to all information needed for auditing.
5.2 Recommendations (can be grouped into two)
In order to improve the gaps in teaching theories and practices, the lecturers should make sure that
there is a great link between what they teach in theories and what is actually practiced in the real
world by providing the practical examples on how those theories are being applied.
In order to improve the practical training, the student should be given enough time in undertaking
their practical training enabling them to grasp enough experience in their area of profession, and
also enabling them to learn many things which link between the theories already obtained from
their studies and what they practice in their practical training.
5.2.1 Recommendations to the organization (Name the organization)., these recommendations
should base much on the problems/challenges facing an organization identified in chapter three
i.e trying to think and give out your opinions on how those problems can be addressed

5.2.2 Recommendation to the University of Dodoma (These recommendations should base on

the chapter four…., advice the university on areas of improvement based on the gape identified
in chapter four and general recommendations on how FPT can be improved
In order to improve the gaps in teaching theories and practices, the lecturers should make sure that
there is a great link between what they teach in theories and what is actually practiced in the real
world by providing the practical examples on how those theories are being applied.
In order to improve the practical training the student should be given enough time in undertaking
their practical training enabling them to grasp enough experience in their area of profession, and
also enabling them to learn many things which link between the theories already obtained from
their studies and what they practice in their practical training.

My suggestion is that practical training should be undertaken for the second semester of the final
year of study, in order to help the students to have a rest for the university long vacation, after then
the students begin their first semester of the third year of study, enabling them to understand
theories very well, and after they complete their studies, then the second semester of the final year
 CHAPTER FIVE
students should be taken for a practical training for at least four months which is equal to sixteen
weeks.
Also the University of Dar es Salaam Business school (UDBS) should be playing a great part in
helping the students to get the practical training placements available for them by bridging the gap
between the students and organizations in order to avoid those students who delay to start their
practical training due to the various reasons of those organizations to which students applied for
delay to reply their requesting and finally reply that there is no any placement for a particular
student.
If possible the University of Dar es Salaam Business School (UDBS)in collaboration with the
Career and Counseling Centre should be responsible on preparing the placements for the students
to undertake their practical training in order to make sure that all students start their practical
training on time and also to avoid some students starting their training irregularly.
REREFENCES (If any)
 APPENDICES (If any)

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