M203096

GREAT ZIMBABWE UNIVERSITY

MUNHUMUTAPA SCHOOL OF COMMERCE

DEPARTMENT OF ACCOUNTING AND INFORMATION SYSTEMS

NAME : TARISAI KWARAMBA

REG NUMBER : M203096
PROGRAMME : HONORS DEGREE IN
ACCOUNTING
YEAR : 3
COURSE : WORK RELATED LEARNING
INSTITUTION : GREAT ZIMBABWE
UNIVERSITY
FACULTY : COMMERCE

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DEPARTMENT : ACCOUNTING

COMPANY DETAILS

ORGANIZATION : ZVISHAVANE
ACCOUNTING
SERVICES
COMPANY ADDRESS : ROOM 10, KEATS
BUIDING,
KATAZA ROAD,
ZVISHAVANE
DEPARTMENT ATTACHED : ACCOUNTING
INDUSTRIAL SUPERVISOR : MRS. M CHANETSA

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ACRONYMS/ABBREVIATIONS

GZU - Great Zimbabwe University

WRL - Work Related Learning

POP - Proof of Payment

ZIMRA - Zimbabwe Revenue Authority

NSSA - National Social Security Authority

VAT - Value Added Tax

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PREFACE

The Great Zimbabwe University devotes to quality research and training through Work
Related Learning opportunities it offers to students and community at large, for the
benefit of humanity. In pursuance of its mission statement, all commerce degree
programs aim to enhance employability of students through Work Related Learning.

In partial fulfillment of any commercial degree program at Great Zimbabwe University a

student is required to undergo work related learning for at least six months to be an
eligible graduate. This will help to develop the student’s professionalism, aptitude,
interpersonal and vital business skills. It offers students the opportunity to put theory
learned at university into practice, that is, apply the skills obtained from school to real
life situations in the business world as well as to give students the chance to choose
their careers wisely by understanding and experiencing the requirements of their
desired professions. In experiencing work-related issues, the student is also able to
compare the merits and demerits of doing the chosen profession.

The Great Zimbabwe University does follow ups, that is to stay in touch with the student
and the company the student is attached at. During this period, students are required to
compile a report detailing what they have learned and the history of the company,
among other things.

This Work-Related Learning report serves to introduce the organization Wellstone

Investments that offered the student a place, and detailed work of what has transpired
during the work related learning.

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ACKNOWLEDGEMENTS
First and foremost, I would like to appreciate the almighty God for the gift of life,
knowledge, wisdom, courage and guidance and his unconditional love he always avails
for me. His grace and leniency have been instrumental during my studies and stay at
Wellstone Investments. Finally, my super awesome salutation goes to the great
Wellstone investments family for giving me a platform necessary to gain practical
professional knowledge and implement theory into reality. I appreciate it for giving me
unlimited access to its resources. I had a chance to work with brilliant and skilled
personalities from which I learned a lot. Special mention goes to my immediate
supervisors Mr. Shumba and Mrs. Chanetsa for their unwavering confidence and
patience and the Zvishavane Accounting Service staff for the amazing opportunity,
warm welcome and their much needed encouragement. Their hospitality makes the
work place a home away from, and working such a pleasure.

I also want to give thanks to the Great Zimbabwe University for the chance they gave
me to go for industrial attachment to learn. I would like to thank my lectures for
equipping me with the information in accounting and finance I needed and which I am
using during my work related period.

Lastly, I would like to appreciate the love, care, encouragement and unending support I
got from my family and friends in coming up with this report. It is from them utmost
hard work and support I got all my academic qualifications, and one of the reasons am
preparing this report.

The report was compiled using,

Information obtained from the Zvishavane Accounting Services records

The experience gained during the period the student was at Wellstone Investments
and,

The knowledge acquired from two years at the Great Zimbabwe University.

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EXECUTIVE SUMMARY

This document serves as an account for the activities done by TarisaiKwaramba during
her work-related learning tenure at Zvishavane Accounting Services from the 5th of
October 2022 to 2022. The writer is going to unveil to the history and background of the
organization mission statement, vision, goals, values, organizational structure and core
ethos. The writer is going to explain the structure and work of the accounting
department where she is employed for her industrial attachment period. The report is
based on her experience during the course of her industrial attachment period. She is
going to outline the duties she has covered as an in intern on work related learning.

The greater proportion of this report will look at the theoretical aspects learnt at
University level and establish the existence of any correlation with the real world and
make recommendations. This document briefly describes the areas covered by the
author during the period of internship at Zvishavane Accounting Services. The
document will give a summary of the activities done, contribution by the student to the
success of the organization, the experience or skills and knowledge acquired,
challenges faced as well as the recommendations thereof. This document will also give
an insight to how the modules learnt at the university helped her in her work-related
learning and how they related to it practically.

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CHAPTER ONE:

COMPANY HISTORY AND BACKGROUND

1.0Introduction

This chapter will entirely focus on the firm’s background history. It will also highlight the
operations in Zimbabwe, the mission statement, vision, and the firm’s shared values.

1.1 About Zvishavane Accounting Services

History and background

The principal philosophy of Zvishavane Accounting Services, Wellstone Investments is

to offer the market auditing services both external and internal, accounting work,
taxation, information technology services, corporate governance and related advisory
services catering for the ever-changing business world. The firm is distinguished by
offering efficient and cost effective services to a diversified portfolio of clients thereby
adding value to its client’s business practices. This reputation of virtuous services has
seen the firm enjoy remarkable growth over the past seventeen years thereby gaining a
sizable market share in the industry. Central to the firm’s growth and success is its
emphasis on client relationship management and its alertness and capability to
combine knowledge of business dynamics, technical skills and commitment to
developing flawless services.

Mission, Vision and Mandate

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1.3 Mission statement of the firm

To develop innovative and research based services delivery methodologies, which
ensure consistency in client service delivery and to serve markets with integrity,
professionalism, independence and excellence.
1.5 Motto
Building a better tomorrow together, moving forward
1.6 Corp
Corporate values
Zvishavane Accounting Services corporate values can be summed up as follows:
 Integrity;
 Professionalism;
 Excellence;
 Commitment;
 Creativity and innovation;
 ;;Confidentiality; and
 Team-work.

1.1.0 HISTORICAL DEVELOPMENT
In the discipline of history, historical development primarily refers to changes in the
unfolding of history. Historical developments can be single event, such as the Boston
Massacre in 1770, or a broad trend, such as the Hippie Movement of the 1960s and
early 1970s. The main idea is that there is some kind of change in the flow of history.
Hence, is the study of how historical change over time.Wellstone Investments was
established in 2005 by Mr. F.C Shumba, a qualified chartered accountant. Before
founding Wellstone Investments, he worked for Shabani Mine for fifteen years having
joined them in May 1981 after graduating from the University of Zimbabwe. In 1981, he
was admitted as a member of the Faculty of Accountants of South Africa, (FASA). In
October 1992 he was admitted as amember of the Institute of Administration and
Commerce of South Africa.

It is this immense wealth of knowledge that empowered Mr.Shumba to build a strong

foundation for Zvishavane Accounting Services.

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1.2.0 VISION STATEMENT AND DECLARED OBJECTIVES

To become one of the top ten consultancy firms in Africa

1.3.0 FINANCIAL PERFOMANCE

Financial performance is a subjective measure of how well a firm can use assets from
its primary mode of business and generate revenues. It is also used as a general
measure of a firm’s overall financial health over a given period. Analysts and investors
use financial performance to compare similar firms across the same industry or to
compare industries or sectors in aggregate. Therefore, the tasks of the Finance Office
is to:
 Harness or mobilize adequate financial resources for the Company and its
respective customers
 To effectively manage the Company’s financial resources at all times
 To develop a sound financial management system, with effective checks and
controls adaptable to changing external and internal circumstances and
providing information necessary to make the best financial decisions
 To carry out any other necessary activities so as to achieve the mission stated
above
The financial performance of Zvishavane Accounting Services is not stable because the
economy faced challenging unstable exchange rates due to hyper-inflation and also the
economy continues to suffer from these challenges hence the disturbing the operation
of the firm. These challenges increased the cost of doing business and affected
revenue generation of the the firm that is Zvishavane Accounting Services

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CHAPTER 2:
LOGISTICS, INVESTMENTS, STRATEGIES, PRODUCTION, MARKETING, STAFFING ,
FINANCING AND TECHNOLOGICAL DELEVOPMENT
This chapter gives a detailed report of the key responsibility taken, duties performed,
personal evaluation of the attachment itself and relevance of theory to practice. This
chapter highlights the relevant department to which the student was assigned. It
provides a brief description of the assignments performed and their relevance to the
degree program.
2.1 INVESTMENTS
An investment is essentially an asset that is created with the intention of allowing
money to grow. The wealthy created can be used for various objectives such as
meeting shortages in income, saving up for retirement, or fulfilling certain specific
obligations such as repayment of loans, or purchase of other assets. Therefore, an
investment involves putting capital to use today in order to increase its value over time.
Zvishavane Accounting Services has various investments where it generates income
that is stocks, Fixed-Income Securities, Real Estate and also the company has got an
industrial photocopier. I will explain the investments being used by Zvishavane Account
Services in detail:
Stocks
Zvishavane Accounting Services own a share of stock in a private limited company that
is located in Harare. By owning the stock, the company is entitled to dividend
distributions generated from the net profit of the company. The money generated from
this dividends is then used to develop the business and also pay wages etc.
Fixed-Income Securities
It means lending money to an institution or government, for which you may receive fixed
interest at regular intervals and also the value upon maturity. Since, Zvishavane
Accounting Services is an accounting service that offers various services to the
accounting industry such as auditing, analyzing profit and loss of companies, preparing
PAYEs and VAT RETURNS, therefore it also lends money to various organization such
as schools, private limited companies but it mainly deals with private companies and
institutions due to their limited liability and going concern. Let’s take for instance,
Mandava High School and Shabani Primary School are examples of organizations that
Zvishavane Accounting Service lends money. When the bond matures, the investor
receives the capital into the bond back. And also, known as the coupon payment.
Real Estate

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Real estate investments are often broadly defined as investments in physical, tangible
spaces that can be utilized. Land can be built on, office buildings can be occupied and
residential properties can house families. MrShumba, the founder of Zvishavane
Accounting Services owns a mining plot where he rents to other people who then pay
rent in return. This mining plot is linked to the business therefore the rent received from
the plot is receipted to the Accounting firm. The money is used for various purpose
such as giving employees commission and bonus to boost their moral and also for
business activities.
Photocopier
It also get some extra money from photocopying

2.2 IMPACT OF THE MACRO-ECONOMIC CHALLENGES

The socio-economic context in which the organization Zvishavane Accounting Service is
operating in is generally challenging.
 High inflation rates
 Unfavorable balance of payment
 Low foreign and domestic investments
 Foreign currency shortages
 High interest rates
2.3 STRATEGIES
Strategic management is all about the identification and clear description of the
strategies that managers/leaders can carry so as to accomplish better performance
and a competitive advantage of their organization. An organization is said to be
competitive, viable and economical advantage if its profitability is higher than the
average profitability for all companies in its industries.Zvishavane Accounting Services
relies on its business strategy to assist in the different departments so that they can
work together, ensuring departmental decisions support the overall direction of the
company. They conduct a SWOT analysis (strengths, weakness, opportunities and
threats) i.e. they ought to make best possible utilization of strengths, reduce the
organizational weakness, make use of arising opportunities and prospects from the
business environment and shouldn’t ignore threats.

SWOT ANALYSIS

The internal factors at Chitungwiza Municipality were reviewed in order to come up with

relevant and appropriate interventions to ensure fulfilment of the Municipality’s

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mandate. As such, a SWOT Analysis was carried out to come up with strategic

interventions to cement the Municipality’s strengths; take advantage of external

opportunities; deal with all internal weaknesses as well as coming with effective

systems to protect the Municipality from external threats. The table below shows the

SWOT analysis as provided by the Strategic Plan for 2014-2018.

2.3.1 INTERNAL ENVIRONMENTAL ANALYSIS

Strength Weaknesses

Inadequate utilisation of the computer

system
Harmony between the policy makers and

the employees is growing. Insufficient computer hardware and

software
Existence of Sage Evolution

Low revenue inflows

Poor service delivery

High employment costs

Lack of implementation of resolutions

Reactive approach to solving problems

Non-equitable distribution of resources

Lack of co-operation or team work

between management and unions

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Lack of adequately skilled labour

2.3.2 EXTERNAL ENVIRONMENTAL ANALYSIS

Opportunities Threats

Political interference

High unemployment rate

HIV/AIDS

COVID 19

High costs of essential services

Unstable macro-economic environment

Highly unionised environment

Media – negative publicity

Litigation arising from creditors

Liquidity crunch

Inflation.

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CHAPTER 2.1
CHALLENGES AND RECOMMENDATIONS
This chapter, It makes recommendations on what the university can do to improve its

learning procedures and conditions in order to issue competitive BCom Degree in

Accounting. The same will be done for the student’s company of placement as there are

also areas in which The Zvishavane Accounting Services can do better in terms of

giving student a chance to learn the realities of the finance world. The accounts

department at the Zvishavane Accounting Services also has its weaknesses that have

been observed. Recommendations and ideas will also be given in this chapter to

address those.

2.1.1 ZVISHAVANE ACCOUNTING SERVICES

POOR IMPLEMENTATION OF INTERNAL CONTROLS
 Challenge
The LA 2022 presented a clear segregation of duties and procedures to be followed.
The Zvishavane Accounting Services makes exceptions for certain stake holders such
as politicians and employees with which infringes on the effectiveness of these controls.
 Recommendation
The company should be immune to the threat of intimidation and should avoid the
giving of special treatment to chosen stakeholders which lead to interference and
renders internal controls ineffective.
POOR MENTORSHIP PROGRAMMES
 CHALLENGE

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During orientation student are allocated mentors. The relationship with mentors begins
and end during the orientation. There is no follow up activities to strengthen the
program. This leads to poor decision making and anxiety when approaching the
attachment year without any guidance on what to expect or how to act.
 Recommendation
I would recommend the faculty to create follow-up activities for mentors and mentees.
This can be implemented through setting up a compulsory career guidance check at the
end of each semester. In addition to this, interaction with successful former mentees
can be arranged to provide motivation for the mentees and a networking base.
POOR STAKEHOLDER COMMUNICATION
 Challenge
Stakeholder communication is important for Service Company like Zvishavane
Accounting. The only form of communication used to interact with customers is
through emails. However some companies do not access their emails regularly
therefore they do see their emails in time hence feedback is slow.
 Recommendation
The company should to a greater extent engage the customers in its operations. Since
the company is in charge of providing basic accounting services to the people it should
realize that customer engagement will make them reach their desired state to a greater
extend.
THE GREAT ZIMBABWE UNIVERSITY
FAILURE TO SECURE RELEVANT ATTACHMENT
 Challenge
Given the current state of our economy where companies are closing and capacity
utilization declining, it therefore follows that students are not gainfully attached to
organizations that are relevant to their areas of study. The end result is that the
students will join any company for the sake of fulfilling the needs of the university
without taking into account the link between the company and the area of study.
 Recommendation
I call upon the university to play a leading role in the placement of students to the right
companies that are linked to their area of study. Chances are that the student will be
placed accordingly if the university is spearheading the process.

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CHAPTER 3
RELEVANCE OF THEORY AND PRACTICE
The attachment year gave me the necessary opportunity to fully implement what was
learnt in all practical business tasks in the most effective and efficient manner, hence,
appreciation of the need of theory. Though the time spent at Zvishavane Accounting
Services I am now equipped with more realistic view of the work and the business
environment. It was the application of theory that gave me the confidence to tackle
most of the tasks assigned to me. Raw data must be applied in the work environment
and put into practice. During the attachment period, some of the concepts, knowledge,
skills, and attitudes acquired from Great Zimbabwe University were applied to the
working environment. The following are the concepts applied:
3.1 CONCEPTS APPLIED
Financial Accounting
Basic principles of accounting on treatment of assets and expenses were strictly
followed and this were used on a daily basis, as the firm were accounting was a major
task. Basic principles such as the double entry system provide a basis of understanding
of banking, preparation of financial statements and banking. Understanding the double
entry made it easy to trace the source variances in various tasks. The report module of
sage evolution was modified to report using recent changes in the framework and
regulations such as the changes of VAT from 15% to 14.5%. The principle of realization
was put to use when forecasting potential revenue. Moreover, principles such as
accruals concept were made good use of in license payment enquiries as no license
could be paid for when there was a debit balance on the account in the concerned
period. The knowledge gained on VAT was of great use during banking and preparation
of VAT analysis. The knowledge helped in identifying items that attracted VAT, zero
rated items and those exempted from it.
Management and Costing
The author was involved in forecasts that are budgets and was also involved in the
budgetary control. Variance analysis was part of regular activities.
Auditing
The knowledge gained from the studies of this course helped me to understand the
application, importance and implementation of internal controls in the department.
Internal controls imparted in audit lectures were in full force. Zvishavane Accounting
Services also focused on Auditing and it audited various companies in Zvishavane. The
author also had a chance to work with external auditors as they went through their audit
process for year end.
Principles of management

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The author noted the clear hierarchy of control and chain of command in the
organization. Leadership functions and roles as well as the management style were
noticeable as one had a theoretical knowledge to this.
Economics
So many factors affected the firm at a macro and micro scale in its operation. The
reactions to this were observed and the author could share ideas on how to conquer
some of the problems from the theories learnt from school. The major areas were rapid
inflation and customers’ disposable income. The student got to understand the concept
of consumer behavior better with regards to the consumption of basic services and
noted that consumers are indeed rational economic animals that choose to consume
service that give them the greatest value. However, not all aspects of economics proved
to be empirical. There was no diminishing marginal utility for the accounting services as
no clients would reach a point of satisfaction, when there is a proper provision of
accounting services.
Business statistics and corporate finance
Borrowing and investments were regular activities in the firm. Matching borrowings to
investments taking note of interest rates and duration could have been a demanding
activity without a sound theoretical background. Calculation of future values and
interest on PSL and short term investments required a support statistical knowledge
thus applying the concepts learnt from school. The importance of the time value of
money provided me with a base for better understanding on the recalculation of short
term investments. I was actively involved in the calculation of short term investments.
My theoretical knowledge of corporate finance helped to understand the flow of CM’s
non-billable calculation methods.
Communication Skills
Communicating with different workmates was easy though at first it proved to be
difficult. Later on the importance of good communication skills at work were applied
and everything started working out. The use of the knowledge gained through the study
of communication skills came in hand during my interaction with different stakeholders.
During enquiries the use of business communication skills to interpret information
through reading or orally to customers, investors, ZIMRA, NSSA without the use of
jargons was of critical importance. The use of conflict management studies were of
importance as the organization’s policies were not in line with the stakeholders’ views in
some instances.
3.2 EVALUATION OF THE INDUSTRIAL ATTACHMENT
The placement was great value in the professional development. It was an opportunity
to get hands on experience to the practical side of the economics and accounting work
theories, principles and values and ethics. I was enhanced in lobbying and networking
skills. I had an opportunity to meet with different kind of problems that demanded

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diverse ways of solving. I managed to apply what she had learnt from the theory
lessons such as communication skills, finance and auditing to enhance business
growth. Industrial attachment generally gives a closer look to something that has been
unclear. Continuously hearing without seeing what is being said can lead a person to
put less effort.
The attachment period was a wonderful experience, I will always cherish since it was
my first exposure to the business world. The exposure to the industrial activities
afforded me a chance to relate to theory practice. Also, it acted as an eye opener for
what graduates or students should expect once they are done with academic learning. It
was noted with much interest that the industrial attachment is of much importance with
regard to university learning.
The university should be applauded for introducing the industrial attachment program
because it prepares graduates for what their chosen career path entails after the
completion of undergraduates studies.

Understanding clients
The placement afforded the student to understand her clients and develop professional
relationship with them. This is attributed to the fact that the clients with were quite
cooperative and appreciated assistance and support that the student offered. The
student was able to discuss with clients in a social manner that they understood. The
student to client relationship was cordial and satisfactory.
Relating to colleagues
Working with people from different fields of study has also proved to be a special
opportunity in the student understanding. Working closely as a team, with the
supervisor who encouraged a multi disciplinary approach to the execution of duties has
benefited the student from the combination of ideas and knowledge from different
fields. Through the support and combination of ideas with such staff members has
widened personal experience as I was able to learn a lot from various disciplines.
Understanding accounting work
I was able to learn more about accounting as a whole that is auditing, preparation of
financial statements that is income statements, balance sheets and cash flows and
budgets, submission of vat returns to ZIMRA through e-taxes. Therefore, not only
students are enriched by attachment but they also help organizations to evaluate
degree programs being offered by universities. Organizations can now be able to make
necessary recommendations so that when students come back to the industry after
completion of their programs they will be in a position to make a meaningful
contribution to the development of the industry. It is more helpful for industry to
evaluate the student.

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Pressure sustenance
The most pressure was experienced at the end of a financial period when all documents
had to be finalized into the system. During such a period the student had to stay at work
till late. All these was done willingly without experiencing any stress.
Proper communication skills
The author has proved to have good communication skills through the ability to handle
any conflict with the customers, creditors, debtors and ability to trace missing
documents and communication with the supervisors. Interaction with different people
called for the use of tactics learnt at school.
Personal Development
The attachment program was one of the greatest wealth of exposure, experience,
opportunities and lesson on both business and social ever happened in my life. The
program was an eye opening machine in many areas, especially when assigned very
difficult duties to execute. After executing the duties I would feel satisfied and
motivated to look for more challenging task to execute.
Confidentiality
Information is a valuable resource to the organization which needs to be protected from
unauthorized users. Hence it was my duty not to disclose confidential information
which may be considered sensitive on both economic and political grounds.
Furthermore, emphasis was put with regards credentials used in logging into the
system and avoid the divulging credentials into the hands of those with need to perform
malicious act.
Innovation
The attachment program awarded me with chances to be a self constructive, motivated
person, assertive and very innovative in the way I do business and executing duties. This
all require a strong desire to learn as much as possible in order to understand and cope
with the working environment and be able to work with very minimum supervision. It
also helped me to be more objective and mentoring me to be good in decision making
and more willing to accept responsibility. The attachment presented a situation where it
was important to learn through doing and if there was any demonstration it was done
for my benefit.

3.3 WEAKNESS
Personnel related problems
 Different instructions from the supervisor and those given by the employee
 Fear of displacement with employees when doing the right thing
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 Conflict on the use of resources

 Transition from college life to industry life was a difficult
 Task related problems
 Unfamiliarity with some computer functions
Task related problems
 Some task were reserved for the permanent employees
 Resistance from from other employees that is refusing to provide the required
full information
 Conflict in the use of resources e.g one printer
 Bad hand written entries in books given to work on

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CHAPTER 4
Lessons learnt and skills acquired
A skill is proficiency gained in carrying out specific tasks or acquired technical
knowledge in doing work. These include areas of wisdom, better understanding,
corrections from misinterpretations, discoveries and insights among others.
The four A’s of Steve Pavlina, were part of the way taken in the personal

development process. Assessment of the working environment was done at

arrival at Zvishavane Accounting Services Adopting the way of life at the place

was next, followed by adaptation to the environment in it. Necessary adjustments

to personal characteristics were made to suit the people at Wattle and the ups

and downs found in all working environments.

Mastering time usage for extreme productivity and overcoming procrastination of tasks

were part of the learnt tips. Setting of realistic goals, creations of action plans in case of

crisis and achievement of results were not left out either. In times of crisis, there is need

to confront and solve hard problems faced in working situation which is now done with

confidence. It was also learnt that to succeed in any field, personal motivation and

cultivating a burning desire to keep moving towards your goals was vital.

Attachments create a platform for students to assimilate theory into practice. Gill and

Lashine (2003) rightfully put it across by pointing out that the whole essence of learning

is to put into practice the learned theories. Matamande, Taderera, Nyikahadzoyi, and

Mandimika (2012) put across the main aim of the industrial attachment programme as

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for students to put into practice theories that would have been learnt during the first

years at the college or university and are expected to create useful linkages with

captains of industry having a general feel of the industry. Students get an opportunity to

gain industrial experience and workplace skill sets.

the student was able to meet and work with potential employers and other staff

members like social workers and welfare officers thus socialization. Exposure to the

demands and challenges of the work place like giving feedback in the appropriate time,

reporting early enough at work, and relating with different categories of people as well

as performing the daily activities. The internship program helped to gain more

confidence since the intern had to do different activities which at times had to be

addressed to the different stakeholders at the Diocese of Zvishavane Accounting

Services. New knowledge and practical experience was acquired in fields of

communication, human rights, and interpersonal skills among others that would help

the intern in the future employment fields. Getting an opportunity to relate with different

categories of people that are most likely to be met in real life situation for example staff

and reporters who had different backgrounds and behaviour as well as regions. By

hosting students on attachment, the host organization identifies potential employees

and retain them after completion thereby recruiting someone already familiar with the

organization.

nowadays everyone is moving towards specialisation, so having the perfect skill for a

particular field will offer a fair chance to develop in one’s career. the student was able to

select an area of specialisation the student wishes to invest myself into. practical work

experience makes you more marketable to employers as they prefer to hire people who

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present fewer risks and job seekers who have proved themselves by successfully

completing an internship are less risky than someone with no practical experience. As

personal development this has enabled me to be competitive after graduation with the

practical experience gained (better resume).

During attachment period the student was able to establish networks and contacts.

While it is vital to know how to perform the required tasks for a particular job, having a

good set of industry contacts behind you can be just as vital in helping oneself find and

secure a job after graduation. An opportunity to blend theoretical knowledge acquired in

the classroom with practical hands-on application of knowledge required to perform

work in industries. The student was able to appreciate the connection between my

courses of study and other related disciplines in the production of goods and services

and the role of my profession as the creators of change and wealth and indispensable

contributors to the growing economy and national development.

It prepared me to contribute to the productivity of my employers and national

development after graduation. The provision of enabling me as a student to develop and

enhance personal attributes such as time management, critical thinking etc. These

relevant skills remain a part of the recipients of industrial attachment as a lifelong asset

that remains. This is because the practical knowledge and skills acquired through

training are internalised and become relevant when required to perform a job or

functions.

With regard to relevance of duties performed to theory in practice, the theory informs

practice, it helps to deal with the prejudices, stereotypes, and assumptions that lead to

discrimination or oppression. Also, it lays the basis for an approach that is

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developmental characterized by continuous and professional and personal development.

It ensures that the workers have a high sense of commitment, challenge and motivation,

together with making sure that workers are fully equipped to meet the challenges that

come with working in the real world since the issues faced are complex. In brief, the

appropriateness of theory as explained in practice is in accordance with the accurate

understanding of the nature and scope of theory, and the reasoning behind it being

sound. Stock control measures learnt in Business management were applied.

Career goals versus industrial attachment The Industrial attachment surely did bring

some perspective. The daily work in finance is significantly different from the theory

learnt in school. Day to day accounts is routine and very simple. Within a short period of

time, one begins to know the routine of recording and creating financial statements at

the end of the year.

However, you’re treated like an assistant some employers see interns as assistants, and

they end up being given jobs such as photocopying, typing minutes, fetching breakfast,

managing diaries, and so on. Filling the role of an assistant might be as far away from

the purpose of the internship as you can get. This made everything feel like a waste of

time. At the end of the day there is no personal development due to performing menial

tasks.

Personal development also comes financially. There was a low earning potential.

Although there are some exceptions (especially in banking or technology), the internship

was lowly paid (they can even be unpaid internships in some countries). While you

should have the expectation that you are not going to be earning big amounts for an

internship, everyone deserves a fair wage. With the increased prices of fuel and

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commodities it was difficult to manage accommodation, food and transport.

 Time keeping
Good time keeping was paramount especially registry which was always floated with
duties and assignments that had to be performed fully and accurately. The student had
to early for work so as to accomplish the assigned duties.
 Working in teams
Working individually would take long time to accomplish duties and would be sole
decision making. Therefore, a lesson was learnt that we should work as a team because
it boosts morale and fast decision making. This was in line with the principles of
management which was learnt in class.
 Conflict management
This was done in a way that is sensible, in this case the conflicts were handled by the
secretary and the student got to learn the procedures required when managing conflicts
as we studied I organizational theory and communication skills under conflict
management.
 Typing skills
This was one of the skills the student just improved on because in course of studying
information processing, the student used to type a lot and this helped a lot more.
 Leadership skills
As an intern the student learnt that being a leader comes along with a bunch of
responsibilities. Operating as a team, being in an office of three people this enabled the
interns to work hand in hand so as to perform the assigned tasks effectively.
 Paying attention at work
Several instructions were usually given to me such as separating , sorting and others. A
lesson of paying good attention and being a good listener made me a perfect performer
because I could easily note down what was told and after put it in action
4.2 Challenge faced
 Limited access to information
Due to short lived of the program most of the confidential information and tasks are not
taught to attachment students. Zvishavane Accounting Services hosted a code of ethics
seminar and excluded attachment students from participating. During the preparation
of the 2022 budget there was no participation of students which limits the amount of

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knowledge gained during the attachment.

 Difficult in adjusting to the working area
I realized that behavior is highly controlled in organizations, mainly along some
stipulated rules and policies. It was challenging and somehow confusing experience to
interact with different people with different characteristics and cultures as well as
different educational backgrounds.
 Noise pollution
The organization is located in a noise area surrounded by roads therefore traffic noise.
 Making mistakes
They happen to everyone at some point, mistakes were common especially at the first
day at work
 Fear of the unknown
Feelings of fear about what is going to happen were experienced in the early days of the
attachment period. Being at work for the first time, learning a new computer system and
being given responsibility to handle some company issues among others all seemed to
indicate enormous tasks lying ahead that could not be tackled.
 Time management
It can be difficult when you’re settling into a new job and adjusting to your new
responsibilities
Conclusion
Therefore, it can be concluded that the attachment period was beneficial to me a
student because it equipped me with various skills and improved my level of
understanding in certain areas but however had limited experience and difficulties in
adjusting to the work environment.

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CHAPTER 5: CONCLUSION
8.0 INTRODUCTION
This is the last chapter of the report. It shall give a detailed and exhaustive precis about

all the former chapters and raise conclusions. It will also give feedback on the

attainment of the aforementioned attachment objectives plainly spelling out

competencies gained during my stay at Zvishavane Accounting Services.

8.1 SUMMARY OF THE REPORT

The report commenced with chapter one which was solely focused on Zvishavane

Accounting Services’ history and background. It also mentioned its vision, motto and

corporate values. Chapter two looked in greater detail of the firm’s services portfolio

and its hierarchical structure. Chapter three is an in-depth study of the external audit

function which was the author’s choice of study. The chapter meticulously analyzed the

various stages involved until an opinion can be issued on the financial statements of the

company. Chapter four was essentially centered on the practical experience gained

during the attachment period on both audit and non-audit assignments. The next

chapter isolated the difficulties encountered by the author and ways adopted to

overcome such barriers. It also mentioned the competences developed by the author as

a result of being exposed to the business and corporate world.

The sixth chapter conceptualized the prominence of theory learned at university to

practice during the attachment period. It pinpointed each course and how it aided to the

success of the attachment period.

Finally, the last chapter presented recommendations to two instrumental organizations

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which contributed to the success of my attachment that is Zvishavane Accounting

Services and Great Zimbabwe University.

8.2 ACCOMPLISHMENT OF ATTACHMENT OBJECTIVES

8.2.1 To give students an opportunity to develop practical experience in the corporate
business world and its complexities.
The attachment period offered me a rich and multitude pool of knowledge in various

business sectors. I had an opportunity to work for diverse clients in the mining sector,

retailing and manufacturing sector and government sectors and its various bodies. I

developed core proficiencies and gained practical and professional exposure thereby

satisfying the university’s requirements.

8.2.2 To implore for the help and the experience of business managers, supervisors and
various trained superiors, in training and developing upcoming leaders.
One unique aspect about external auditing is that you have an opportunity to work with

a client’s management and is from the accounts clerk to the chief executives’ officer.

Just interacting with well-established corporate personnel was crucial in learning the

technical aspects of the business necessary for success. Moreover, during audit

engagements, I often received coaching and support from audit seniors on how to

handle certain situations, business etiquette and grooming and also procedural

knowledge on how to conduct an audit in line of International Auditing Standards (IASs).

The experience was sound and enriching in my journey to become an educated and

professional accountant.

8.2.3 To afford students a platform practical on the job experience in the rea business
world.
My work supervisor always told me that on-the-job training is the best as it integrates

theory and practice simultaneously. The attachment period offered me a chance to

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experience the practical reality of business and its intricacies as the mandate of the

attachment period. I managed to comprehend the big picture of what externa audit is,

the external audit approach and methodology and how to add value to a client. After my

tenure at Zvishavane Accounting Services, I now have an appreciation and advanced

understanding of externa audit and the various methodological procedures that

encompass it such as planning, test of control, substantive tests and finally concluding

and reporting. I now understand that audit methodologies vary from company to

company but use the same auditing standards (IASs) and basically giving the same

audit opinions. I was also able to hands on learn how financial statements are prepared

from the initial data gathering stage all through to the conclusion of preparation of

managements reports and financial statements.

8.2.4 To consolidate the gap between the theories learned and the hands-on experience
in the professional work environment.
This objective was the essence of chapter four and five which detailed all the practical

experience gained courtesy of theory learned in college. Theory learned in the initial two

years at college was wholly valuable and critical to the success of the attachment

period. It perfectly corresponds with theory learnt though the reality was more effective

and insightful as reality can never be completely modeled and exhibited.

RECOMMENDATIONS

The company vision has to be printed and stuck on the wall in the office. A company

vision helps in boosting employee morale by showing them that whatever they are doing

is contributing to the achievement of the vision.

Conclusion

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The Zvishavane Accounting Service provided a chance for training young, energetic

accountants and auditors to practice their skills by giving them full opportunity and a

better background to work as an accountant. In conclusion the student benefited a lot in

the the field in a way that she was able to apply theoretical knowledge into practical.

The industrial attachment period at Zvishavane Accounting Services was an

immeasurably treasured experience which molded me into a responsible and reliable
professional. I have acquired technical, professional and social skills that will be
valuable in my career of choice. These will be fully applied in the post-graduation period
as I advance into the industry. The attachment period has added an ability to visualize
the importance of group work and delegation. Attachment at Zvishavane Accounting
Service is a platform to improve in various areas of incompetence and enhance one’s
knowledge. This developed my confidence as an accounting professional as theory
concepts were fully learned in practice.

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REFERANCES
Baldrige National Quality Program, 2006, Criteria for Performance Excellence,
http://www.quality.nist.gov/PDF_files/2006_Business_Criteria.pdf.

Chitungwiza Municipality Strategic 2014 to 2018 Document

Collins, J.C., Porras, J.I., 1994, Built to Last: Successful Habits of Visionary Companies,
Harper Collins Publishers: New York, NY, USA.

Edgeman, R.L., Scherer, F., 1999, Systemic Leadership Via Core Value Deployment,
Leadership and Organization Development Journal, 20(2), 94-98

Strickland (2005, 18), Organizational stress studies in role conflict and ambiguity,
Prentice Hall New York

Zvishavane Accounting Services

Mr F C Shumba the director

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