A REPORT ON STUDENT INDUSTRIAL ATTACHMENT: A CASE STUDY OF RELIABLE BASE SACCO.

LILLIAN MUTINDI PETER

DAC/061/19

AN INDUSTRIAL ATTACHMENT REPORT SUBMITTED TO THE KIRIRI WOMENS UNIVERSITY OF SCIENCE AND TECHNOLOGY IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE DIPLOMA IN ACCOUNTING

1. LINUS MUCHUNKU

28^TH, JULY 2020

DECLARATION

I declare that this attachment report is my original work and has not been presented to any other university for any award or anywhere else for any academic purposes.

Lillian Mutindi Peter     ________________                          ________________

Student Name                                    Signature                                                       Date

This Project has been submitted with my approval as the University supervisor.

Mr. Linus Muchunku            _________                            __________________

Supervisor                                 Signature                                 Date

ACKNOWLEDGEMENTS

I would like to extend my heartfelt gratitude to my family members, especially my parents, for their support, both financially and advise wisely. Thanks to my classmates and other friends for their invaluable support too.

I sincerely thank Reliable Base Sacco for giving me a chance to be part of their family and for the support and guidance I constantly got throughout my training.

Above all, I thank the Lord God almighty for the divine protection, guidance, and the opportunity of a memorable and fruitful period at Reliable Base Sacco.

TABLE OF CONTENT

COVER PAGE…………………………………………………………….………….…PG. 1

DECLARATION/ACKNOWLEDGEMENT …………………………………………PG 2

TABLE OF CONTENT……………………………………………………….…………PG. 3

ABSTRACT……………………………………………………………………….……..PG. 4

INTRODUCTION ……………………………………………….……………….……. pg. 4

Geological location of the organization…………………………………………………pg. 5

Objectives of the attachment……………………………………………………………………….pg. 5

Business ecosystem features of the attachment and structure of administration of the site ……………………………………………………………………………………………..pg. 6

Main Sections

The core business of attachment site………………………………………………..pg. 8

Department and functions…………………………………………. pg. 8

Strategic plans……………………………………………………………………. Pg. 9

Students initiatives…………………………………………………………….pg. 9

Reliable Base Sacco SWOT analysis ……………………………………..pg. 9

Skills Obtained from the Attachment…………………………..………….pg. 10

Conclusion ……………….………………………………….……………………., pg. 11

Recommendation……………………………………………………………………….., pg. 12

References………………………………………………………………………………..pg. 13

Appendices ……………………………………………………………………………….., pg. 14

ABSTRACT

The report presents my skills in the practical world as an accountant trainee at Reliable Base Sacco. The title page contains all identification details, the host institution, and a declaration of the report. Followed by the acknowledgment of all stakeholders who I dedicate this report to. The table of content follows and is a chronological order in which the contents of the document are arranged. The introduction part of the report contains an overview of the actual attachment experience, including the organization’s geological location. The main section includes details of the core business of the organization, the Host Attachment Department, Whereby Functions, Duties and responsibilities, Objectives, and Assigned duties are addressed. Knowledge and skills learned the strength and weaknesses of the site (swot analysis) and observations. The final part of the report contains a summary and conclusion of the attachment experience. In so doing, I believe this will greatly impact both the upcoming trainees and institution to major on other efficient works & existing gaps for the entities’ quality services & maintained reputation.

INTRODUCTION

This industrial attachment is an essential component of the Kiriri Womens’ University of Science And Technology curriculum. The attachment period is usually a minimum of two months and a maximum of four months. During this period, students are required to gain additional practical experience to supplement their course of study at the University. They are also exposed to the real world of work and its challenges, which will prepare them for future careers.

This report is the outcome of the three months of practical training I had at Reliable Base Sacco.

GEOLOGICAL LOCATION OF THE ORGANIZATION

Reliable Base Sacco is located At Kasarani, 300 meters from TRM along the Kasarani- Mwiki Road.

OBJECTIVES OF THE ATTACHMENT

Some of the important objectives of the industrial attachment are as follows;

1. To assess the interest of the student in the occupation, he/she plans to undertake.
2. To expose the students to work methods not taught in the University and provide access to production equipment not normally available in the University’s environment.
3. To provide the students with an opportunity to apply knowledge in real work situations, closing the gap between University work and the actual practice.
4. To make the transition from school to the world of work smoothly and enhance student contacts for job placement.
5. To enlist and strengthen employers’ involvement in institutional activities and in the entire educational process of preparing the students for employment in the industry.
6. To enhance the industry’s satisfaction with the graduate of the Faculty in particular and the University at large.

BUSINESS ECOSYSTEM FEATURES OF THE ATTACHMENT AND STRUCTURE OF ADMINISTRATION OF THE SITE

The central bank of Kenya was the source of finance to reliable base Sacco.

STRUCTURE OF ADMINISTRATION OF THE SITE

CORE BUSINESS OF ATTACHMENT SITE

Reliable Base Sacco is committed:

1. To meeting and exceeding customer requirements and expectations by providing timely and quality services.
2. To uphold quality services through qualified and experienced personnel, quality and modern equipment, and ethical practices.
3. To provide an enabling collaborative work environment that motivates, energizes, develops, and recognizes individuals and teams’ contributions at all levels.
4. To be a progressive institution managed within dynamic strategic plans and objectives that are reviewed and appraised periodically to effectively and efficiently address challenges facing the institution from time to time.
5. To provide globally competitive skills through benchmarking, undertaking research, and collaboration with an internationally recognized institution.

DEPARTMENTS AND FUNCTIONS

The organization deals with saving and crediting.

STRATEGIC PLANS

The field attachment took ninety-three intense days. Manager, Madam Eunice ngula, and I had a sitting where we drew a plan on how I was going to handle the days that I would spend in the Reliable Base Sacco. She also helped me come up with assistants that would take me through every step of my stay. From the plan, we agreed that I would have to handle each client respectfully. This was to be in the order of:

1. Generation of customer saving statement.
2. Filling of invoice credit notes
3. Posting of mpesa receipts to Sacco management
4. Appraisal of the loan application
5. Drafting of cheques
6. Posting of journal entries
7. Bank/ mpesa reconciliation
8. Preparing payment vouchers
9. Journal entries of income and expenditure account

 STUDENTS INITIATIVES

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STRENGTH AND WEAKNESS OF THE SITE

1. Strengths
2. The Sacco employs more than 20 workers.
3. It is located at kasarani, opposite kasarani police station, thus providing security and a suitable environment for most of its workers.
4. The employees in the estate are getting paid well and in good time each year.
5. Weaknesses
6. Its location near mwiki road exposes its workers to noisy environments, especially the hooting of vehicles.
7. There is very weak network coverage for Safaricom and Airtel Services, thus complicating the region’s communication efficiency.
8. Opportunities
9. The Sacco is located just next to the highway hence can be expanded as much as its administration wants.
10. Any visitor can easily locate the Sacco because it is just next to the thika road-highway.
11. The management of the Sacco strongly supports capacity building hence a great opportunity for internship and student attachment.
12. One can earn as much money as they want to depend on the hard work they put in place.
13. Threats
14. Reliable Sacco faces a great threat of competition from others around the companies, especially when it comes to its workers’ payment.

KNOWLEDGE AND SKILLS OBTAINED FROM THE ATTACHMENT

During my attachment in the Reliable Base Sacco, there have been a series of activities taking place that I have been involved indirectly or indirectly. I have been largely involved in fieldwork, where I was assisting in carrying out the following duties.

• Effective management was able to convince clients to make a different decision based on the savings and qualifications when one needs to apply for a loan.
• Effective Supervision- there was amazing supervision in the Sacco, and I gained a lot and have successfully worked without being supervised.
• As I played a role in posting mpesa receipts to the Sacco management system, some clients could send their funds through mpesa, and I was able to record the receipts to the system.
• Handling of Cash – The manager trusted me enough to allow me to deposit the cash. This, I was successfully able to handle.

CONCLUSION

It is for me to conclude that this industrial attachment has given me a great opportunity to apply theoretical knowledge to this real work situation. I have been fully exposed to work methods not taught in the University and have provided me access to products and equipment not available in the University. The attachment has highly assessed my interests in accounting, which I have always wanted to undertake. It has been a great experience, and I wished the period could be extended at some point.

RECOMMENDATION

First, I recommend that Reliable Base Sacco should intensely sensitize establishments on the data that we collect, and the importance of their responses. In line with this, unless otherwise stated, there should some action was taken on those that deliberately choose not to cooperate in giving the required information. I believe this will help maximize response rates.

Students coming for attachment should be taken through some form of orientation to help them have enough knowledge about what they are about to do. Procedures should also be laid down for monitoring the attachees e.g., by assigning weekly tasks to be completed. Some motivational packages for attachees can be a great token of appreciation to them. A logbook should also be provided, especially for those on post-attachment.

The attachment period is very beneficial for students as it assists them in blending academic work with that of the industry; therefore, much importance should be given to students’ attachment. Also, since my experience for these few weeks was enormous, I recommend that the attachment period be extended. It should be made compulsory for every student to do an attachment.

References

Forbes, N. (2013). Family banking in an era of crisis: NM Rothschild & Sons and business in central and eastern Europe between the World Wars. Business History, 55(6), 963-980.

Appendices

List of Abbreviations

TRM- Thika Road Mall

SWOT-Strengths, Weaknesses, Opportunities, and Threats