Executive Summary

During This training, the interns were exposed to some practical work which made them acquire some skills. These experiences were as follows;

Interns were supposed to come to work on time at 7:30am every working day. This was to ensure that interns arrive before the boss and prepare themselves for work.

More so, interns moved from one department to another. In the course of this practice, in each department, interns were given an insight of this department and what is being done there. Interns passed through two department of the organization

The intern was taught on how to fill membership application form and the individual ledgers after which we were taught on how to fill the payment voucher and with the cash control ledger

Interns were also accommodated in the loan department in which interns studied the principles through which loans are granted and the procedures through which these loans are recovered

Interns were also fortunate to visit the accounting department in which they were taught some techniques on how to balance the balance sheets and how to trace and correct certain errors that arise during the balancing exercise.

Finally, interns were brief on some risk management schemes and some shortcomings of the organization.

This report is divided in to five chapters. Chapter one which is the introduction, chapter two the overview of the organization, chapter three training program, chapter four critical analysis and chapter five summary, recommendation and conclusion.

CHAPTER ONE

INTRODUCTION

1.1 Context of Internship

An internship is a period of work experience offered by an employer to give students and graduates exposure to the working environment, often within a specific industry, which relates to their field of study.

Internships can be as short as a week or as long as 12 months. They can be paid or voluntary; however, before you start an internship it’s important to know your rights with regards to getting paid.

Internships can be done in a range of sectors, including sales, marketing, engineering, graphic design, management, I.T. and many, many more. Throughout an internship you will develop a variety of soft skills, including communication skills, personal effectiveness, presentation skills, creative problem solving and influencing skills.

‘On-the-job’ experience can be as valuable as anything learned in your studies. After all, you cannot really understand what a job is all about until you have worked in that environment. Internships are great opportunities to speak directly to people who have experience in the role you aspire to; and their knowledge of the job and working environment will give you a greater understanding of what it’s all about and what you need to do to progress.

Your career aspirations may change when you’re faced with the true realities of a role. Internships can therefore be used as a ‘try before you buy’ option, before you embark on a career and confirm if this is what you want to do in the long term.

An internship can give you a real insight into the world of work, allowing you to build on the theory you learned at university and helping you to gain practical skills that will help strengthen your CV and make you more employable. Internships offer you the chance to test your skills in real-life situations, explore your career options and gain an insight into an organization or career path.

1.2 Identification of Problem to solve within the Organization

The threats are those activities that hinder the organization goals and progress. These are external and internal difficulties which are seen below.

External Threats

• GWVCU have competitors which offer similar services like UBA Bank, which act as threats to GWVCU and her services.
• The institution also faces difficulties of fraudulent acts of members who forge signatures and obtain money from the organization.
• GWVCU also face difficulties with the government policy through the very high taxes imposed on them.

Internal Threats

• Unfaithful members who do not pay their loan on time leading to the problem of delinquency.
• The congestion in the member service especially during month end where daily savers assemble in front of the barn for payment.
• Mismanagement of the organization assets by some members of the organization.
• The long working hours make workers to be very tired and ineffective due to their nature of work such as, several loan applications to be proceeded, journals to be corrected and others.

1.3 Objectives of Internship

This refers to the aims or goals of doing internship; where the main aim is to help students match theory and practical that is matching up what is taught in class and applying it in the field of studies. It creates a link between learning and professional employment.

Some of these objectives include;

1.Assist the student’s development of employer-valued skills such as teamwork, communications and attention to detail.

2.Expose the student to the environment and expectations of performance on the part of accountants in professional accounting practice, private/public companies or government entities.

3.Enhance and/or expand the student’s knowledge of a particular area(s) of accounting.

4.Expose the student to professional role models or mentors who will provide the student with support in the early stages of the internship and provide an example of the behaviors expected in the intern’s workplace.

1.3 Justification of the Choice of the Organization

This refers to the aims or goals of doing internship at global wealth visionary credit union Accessibility and low cost of transport

The above mention institution was chosen for the fact, the institution was quite accessible. That is, it was close to the main road requires little or no transport fair to go to work.

Access to info regarding their daily operation

Most institutions nowadays keep information’s regarding their day-to-day activities secret and most often do not give it out to third parties for security reasons, so chosen the said institution, I realize getting’s the information needed for my report will be gotten immediately my intern period is over.

Staff Neutrality

Here at GWVCU, I am not familiar with any of the staff and that alone gave me reasons to choose the above-mentioned institution because I didn’t want to work in a place where familiar with the staff.

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