THE INSTITUTE OF FINANCE MANAGEMENT

FACULTY OF ACCOUNTING, BANKING AND

FINANCE DEPARTMENT OF ACCOUNTING AND

FINANCE ORDINARY DIPLOMA IN ACCOUNTING

YEAR II

2019/2020

NAMES: ANNA HERIEL MLAY

REGISTRATION NUMBER: UPA/DAC/18/83773
ACADEMIC YEAR: II
SUBMISSION DATE: 17th FEBRUARY, 2020
 DECLARATION

I declare that this field reports is my own work that it has not been submitted by anyone to

another other higher leaning for academic consideration .

Name ANNA H MLAY

Signature A.Mlay

i
 EXECUTIVE SUMMARY

This fied was conducted at MLC in Dar es salaam at Ilala district for eight week started

effectively from 29th up to 23th September 2019

The aim of the field work is to enable students to learn new things in practical in relation to

those learnt theoretically in class so as they can understand and perform them effectively.

This report includes the introduction to the organization which shows the overview ,the

historical background of the organization (MLC) when it started, its coverage and many

more. Also includes its functions, its structure and different objective ,and vision

The report shows the description of the duties and responsibilities performed during the

field work and the learnt.

Also the report consist of the conclution,the skills gained, challenges faced during practical

training and career plan and ambition effects.

But lastly is recommendation which can be done MLC and IFM so as to increase the

knowledge of students when at school and during the field work training.
 ACKNOWLEDGEMENT

I would like to thank Almight God for giving me all the strength and healthy during my

field work practical training up to the time of writing this field work report.I am truly

thankful to the benefit processing officer Mr Anney Semu and Miss Naanjela s. Mlaki as

my supervisors for the impressive and courageous management style that they truly

exercised to assist me

.Also Idedicate my thanks and appreciation to the Institute of finance Management for

allowing student to attend field practice since acquire different skills and knowledge from

it.

iii
 TABLE OF CONTENTS
DECLARATION....................................................................................................................i

EXECUTIVE SUMMARY....................................................................................................ii

ACKNOWLEDGEMENT....................................................................................................iii

CHAPTER ONE....................................................................................................................1

1.1 INTRODUCTION........................................................................................................1

1.2 OVERVIEW OF THE FIELD WORK PLACEMENT...............................................1

1.3 HISTORICAL BACKGROUND OF MAKOA LAW CHAMBER (MLC)...............1

1.4 MISSION AND VISION OF THE COMPANY (MLC).............................................2

1.4.1 MISSION..............................................................................................................2

1.4.2 VISION.................................................................................................................2

1.5 PRIMARY FUNCTION OF MAKOA LAW CHAMBERS.......................................2

1.6 ORGANIZATION STRUCTURE...............................................................................2

CHAPTER TWO....................................................................................................................4

WORK DONE AND LESSON LEARNT.............................................................................4

2.1 INTRODUCTION........................................................................................................4

2.2 ARRANGEMENT OF EFD RECEIPT IN THEIR RESPONSIBLE FILES..............4

2.3 ISSUE OF RECEIPTS FROM EFD MACHINE.....................................................4

2.4 COMPUTER KNOWLEDGE.....................................................................................5

2.5 INTERNET BANKING ACCOUNTS SKILLS..........................................................5

2.6 PREPARE A WEEKLY REQUEST...........................................................................6

2.7 PREPARE A FINANCIAL STATEMENT.................................................................6

 2.8 PREPARE A VAT RETURN.....................................................................................6

CHAPTER THREE................................................................................................................7

CONCLUSION AND RECOMMENDATION.....................................................................7

3.1 INTRODUCTION........................................................................................................7

3.2 CONCLUSION............................................................................................................7

3.3 RECOMMENDATION...............................................................................................8

3.3.1 RECOMMENDATION TO MAKOA LAW CHAMBERS (MLC).....................8

3.2.1 RECOMMENDATION TO IFM..........................................................................8

REFERENCES.......................................................................................................................9

APPENDIX..........................................................................................................................10
 CHAPTER ONE

1.1 INTRODUCTION

The chapter shows an overview of my field work practical which was conducted at Makoa

Law Chambers The chapter (MLC) which will explain the history, function and Purpose of

the scheme details.

1.2 OVERVIEW OF THE FIELD WORK PLACEMENT

Field as stipulated in the Prospectus as the education which every student at Institute of

Finance Management will perform as to fulfill his academic qualification. Field work is

conducted at the end of Semester for Diploma one and it is Stipulated that it will be done in

eight weeks after the end of second semester on department of accounting.

The field work was conducted at DAR ES SALAAM region at ILALA district, at the

Office of MLC for eight weeks at Posta nearby samora and azikiwe street.

1.3 HISTORICAL BACKGROUND OF MAKOA LAW CHAMBER (MLC)

Makoa Law Chamber (Advocates) initially started its operation in the year January

2006.The firm is made up of a combination of qualified Practitioners with diversified

qualifications that enables it to be in the position to take care of its client’s needs with

confidence and Proactive approach.

Makoa Law Chambers is made up of dynamic and diverse team with many years

experience across the firm’s practice areas. The firm is Proud of variety services to a

number of various corporate and as well as private person, Clients in records who we are

serving and we have served as Consultants Litigation and cooperate matters.

The firm is made up of combination of qualified and confident practitioners with

diversified qualification.

1
1.4 MISSION AND VISION OF THE COMPANY (MLC)

1.4.1 MISSION

They are committed to serve their clients with excellence. Their mission is to provide

effective Legal solutions to their clients that meet internationally acceptable standard of

quality.

1.4.2 VISION

Their vision is to become the leading tax and corporate law firm in Tanzania. The firm’s

vision to deliver first class legal expertise while focus on dedication to affordable trust.

1.5 PRIMARY FUNCTION OF MAKOA LAW CHAMBERS

The goal of the firm is to provide prompt, efficient and accurate legal services to its

clientele at a reasonable fee. The firm is associated with consultants in wide range of

practice areas and is able at short notice to call upon the expertise of others in rendering a

well rounded advice to its clients.

1.6 ORGANIZATION STRUCTURE

An organization structure defines on how activities such as task allocation, coordination,

and supervision are directed toward the achievement of organizational aims. Organization

structure affects organizational action and provides the foundation on which standard

operating procedure and routines rest. the following are the routes that may show the

activities of MLC.

(i) Managing partner: The highest formal job title given to a senior partner in
charge of a firms overall practice, management and day to day operations.
(ii) Partners: are the pair of people engaged together in the same activities
(iii) Active partner: is an invested person who is involve in daily operations
(iv) Dormant partner: a partner who takes no share in the active business of a
company.
(v) Lawyer: Represent clients in civil or criminal trial and present evidence for
their defense.
(vi) Legal officer: are responsible for monitoring all legal affairs within their
organization.
(vii) Accountant: is practitioner of accounting or accountancy, which is the
measurement, disclosure or provision of assurance about financial information
that help managers, inverstors,tax authorities and others make decision about
allocating resource.
(viii) Secretary: Administrative professional or personal assistant is a person whose
work including executives, using variety of project management,
communication or organization skills.
The diagram below shows those routes above of their activities in a company:

Managing Partner

Partners (dormant) Partners (Active)

Lawyer Legal officer Accountant Secretary

 CHAPTER TWO

WORK DONE AND LESSON LEARNT

2.1 INTRODUCTION

The objective of this chapter is to explain the task and lessons learnt that was assigned at

Makoa law chambers on department which is benefit department consultant and legal

response and information desk sections during the field work. I managed to undertake a

different task which adds create and more experience to my profession.

2.2 ARRANGEMENT OF EFD RECEIPT IN THEIR RESPONSIBLE FILES

Here all EFD receipt were arranged in particular files according to descending date and

months were brought in my section as well as according to how responses were done so as

to avoid misplacing of receipts

Lesson Learnt
I have learned that arranging of EFD receipt in their responsible files is very important

since it enables staffs to avoid misplacing of the receipt which will used to provide a daily

reports of the company also to avoid any inconvenience between staffs and members ,Also

I learned that receipts are arranged in date and months from January up to December.

2.3 ISSUE OF RECEIPTS FROM EFD MACHINE

Here the task is to issue a receipt from EFD machine in evening everyday after finishing a

Job . I issue those receipt as well as a reports of the sales per day sending report to TRA to

totalize a sales done in that office per day. Also at that time I issue a client’s receipts with

VAT 18% of their amount payable to the office.

Lesson Learnt
I have learned how to use a EFD machine to sending a reports of every day for those sales

whose they done in their office, This reports in other words we know as a Z-reports that

can issue in every day and also when I use this EFD machine learned on how to issue a

client’s receipt with a VAT 18% of their amount payable to the office

2.4 COMPUTER KNOWLEDGE

Here the task is to write every transaction in Microsoft Excel (MC EXCEL) that done in

the office such as Petty cash, Income and Expenditure as well as Partners income so I was

used a computer for wrote a documents and at that timely I was used Microsoft excel to

balance account known as Double entry.

Lesson Learnt
I have learned on how to use a Microsoft Excel in basis of entered a documents in a

computer like account how to close an accounts at every months and calculated the balance

checked in a computer ,so I have a skills now to how to enter the ledgers in Microsoft excel

and balance those account.

2.5 INTERNET BANKING ACCOUNTS SKILLS

Here the task is to check a balance of an account in everyday before done any thing ,In

Makoa law chambers there are using three accounts those are KCB Bank, CRDB Bank,

and also NIC Bank so I have check those balance online by internet banking.

Lesson Learnt
I have learned on how to check the balance on a responsible account and also I have a skills

on how to sending in other accounts or Pay expenses by using internet banking online as

well as I Have know to pay a salary by using Internet Banking online.

2.6 PREPARE A WEEKLY REQUEST

Here the task is to prepare a week reports which will be needed to a certain amount of

money to another week for the purpose of office expenses such as Electricity, petty cash

and a certain cases which have been paid to files those cases ,and also if there any kinds of

necessary things which could be done on that date must be written a request for a partners.

Lesson Learnt
I have learned to prepare those request for the partners and I know how to classify and paid

those expenses on a date and also I learned about operations in office spend how much per

week

2.7 PREPARE A FINANCIAL STATEMENT

Here the task is to prepare a financial statements per months and to ensure that those

account are balance and also to prepare all ledgers for every transaction may occur during

the month so I check a balance of the accounts and all Ledgers are balance.

Lesson Learnt
I have learned to prepare double entry and balance it by using Microsoft Excel and to

know which occur on debit side and which occur on credit side those are the things which

have learned on preparation of financial statement.

2.8 PREPARE A VAT RETURN

Here the task is to Prepare the VAT return to those sales and Expenditure of the office and

submit it before 20thfor every months and I using it Microsoft Excel and submit it to

TANZANIA AUTHORITY REVENUE (TRA).

Lesson Learnt
I have learned on how to submit VAT return for every 20 thmonth and to prepare on time in

order to avoid any inconvenience may occur after 20th date for every months.
 CHAPTER THREE

CONCLUSION AND RECOMMENDATION

3.1 INTRODUCTION

Practical training session is among the valuable program set to enhance students leaning

and Understanding the facts about their career. The training exposes students to new

challenges and opportunities in their chosen profession .Most of things taught theoretically

are practiced during this period. it enables students to experience different working

environment before they are actually employed or self employed upon completion of their

studies.

3.2 CONCLUSION

During this period students are exposed to various people such as directors,managers and

entire society that they never met before.This helpstudents to understand how to deal with

different managers at different levels. They also learn on how to behave towards a

particular senior.Thus the practical training session is very important to students as future

employees or employers.

Moreover Practical training enables students to understand various fields other than those

which are within their career. For instance at MLC many things about administration

technology ,which are not my career but something in excess was obtained and which is

beneficial .Then further gained personal confidence and self trust as was working with

different people having different managerial positions and different qualifications such as

managing partner,partiners ,lawyer accountant(,secretary and so many more.

Generally new things which were learned and helped to broaden social protection

knowledge while the problems faced were solved. The work environment was extremely

good such that enjoyed each moment of stay .Therefore practical training session is

essential and should be competent in what they have been taught theoretically to put them

in practical mode so as they can build their future career for their own and for the

development of country.

3.3 RECOMMENDATION

3.3.1 RECOMMENDATION TO MAKOA LAW CHAMBERS (MLC)

The organization (MLC) should provide job opportunities to the trainees after getting their

Diploma in order to enable them to be employed and solving the problem of

unemployment has been bigger problem in our country regardless to the fact that people

are qualified and they still don’t get the opportunity to be employed.

3.2.1 RECOMMENDATION TO IFM

IFM Management should assist the student on finding institution or companies and

organization where they can conduct their practical training in order to reduce the problem

of conducting project rather than field since field build students much on their career since

its practical oriented .Management should extend a period for reports preparation because

it needs a lot of time to accomplish it and therefore time should be added for submitting the

field report. I recommend this to the management of the Institution of finance and

Management IFM.
 REFERENCES

Kittler p,(2006) conceptual frame work for customer services Philosophy

Makoa law chambers act no 27, 2006, MLC act

Makoa law chambers the five year corporate plan 2006/2010

Firm profile of Makoa law chambers 2019

Online source - website; info@makoalaw.com

 APPENDIX

Student log book for field practical training