Executive Summary

This piece  of  work,  internship  was  carried  out  at  the  Bangem  Municipal  council  from  the  department  of  Municipal  Treasury  from  the  01^st of  July  to  the  31^st  of  August  2018.

The main aim  of  this  training  is  in  partial  fulfillment  for  the  requirements  of  a  Higher  National  Diploma (HND)  award  and  to  enable  the  students  make  comparisms  between  theory  and  what  is  practiced  in  the  corporate  world  that  will  help  them  to  have  a clear  and  perfect  understanding  of  the  concepts  learnt  in  school.

On like other public enterprises, the main of  Bangem  Municipal  Council  is  capital  maximization that  is  they  are   out  to  satisfier  the  interest  of  the  general  public, by carrying out some un-profitable projects   such  as  the  provision  of  public  and  merit  goods  to  it  citizens.

This enterprise   has a  strong  labour  force  to  carry  their  activities  around  the  municipality ,  some  of  the  key  activities  carried  out  in  this  enterprise  is  recording  of  transactions  and  collections  of  revenue within the municipality and preparation of financial report.

We were able to carry out some these activities such as collection of revenue from the payment of taxes, calculations of salaries of council workers, supervision of some council project within the municipality, some of these activities that we carried out will dealing be seen in chapter three as we move head.

CHAPTER ONE

INTRODUCTION

Introduction

An internship is a period of industrial attachment of a student to any business unit of his or her field of study, which enables him or her to blend all what he or she learnt in school with the practical aspect of the study in the field for a period of time.

The student is expected to appreciate the relationship between theory and practice and to produce professionalism in the field of studies. Also, this in partial fulfillment of the requirement for an HND award.

An internship placement equally allows the student to acquire essential skills such as time management skills, communication skills, attending meetings and seminars, improvement in interactions especially employee-client relationships as well as professionalism.

During an internship, the student put in practice all the concepts thought to them in class room there by acquiring a broader knowledge on his or her field of study. In this case, when the student gets back to school, he or she will be able to perfectly understand the lesson in school with reference to what he or she experienced in the corporate world.

Aims and objectives of the internship

Every activity done by man is intended to achieve a particular purpose. This internship training given to students is intended to achieve some certain objectives that benefit mainly the students as they pursue their career in life. Some of these objectives are;

1. The student should acquire and develop skills that will foster his career.
2. The intern should be able to compare theory and practice and merge the two when applying his or her knowledge in his or her career.
3. The intern should be able to develop attitudes that will help them improve on interpersonal relationship.
4. The intern will be able to acquire ethics of their profession.
5. An internship is aimed at providing students with knowledge of the formal functional activities of the corporate world.

Operational definition of terms and list of abbreviations

Operational definition of terms

Council: According to law No 2004/017 of 22^ndJuly of the orientation of decentralization it states that the council is a decentralized collectivity.

Voucher: A voucher is a document that gives details of payment made to supplier of a particular goods and services.

Revenue: It is the income generated from sale of goods or services, or any other use of capital or assets, associated with the main operations of an organization.

Expenses: An expense is a cost that occurs as part of a company’s operating activities during a specified accounting period.

Transaction: this refers to any financial event or activity which affects an organization.

List of abbreviations

Abbreviation   Full meaning

SG       Secretary General

MT      Municipal Treasure

Acc      Account

Dr        Debit

Cr        Credit

CV      Cash Voucher

PV       Payment Voucher

Frs       Francs

HIMS  Higher Institute of Management Studies

HND   Higher National Diploma

PIT      Personal Income Tax

LBT     Land Bank Tax

ACT    Additional Council Tax

CRTVT           Cameroon Radio Television Tax

LDT    Local Development Tax

NEFT  National Employment Found Tax

AR      Acknowledgement Right

OD      Ordinary Debtors