August Journal - 3rd Week

 WEEK 3

Date:  12 August 2024 - 16 August 2024
Day : Thursday - Friday
Location : BDO Office, Level 18, Menara Zurich
Time: 8.30 a.m - 5.30 p.m



TASKS OF THE WEEK 


Back to BDO Office

Day 96 ( 12 August 2024)

Public Holiday - Almarhum Sultan Iskandar Hol Day


Day 97 (13 August 2024)

Extract Internal Audit Report of SKPW Operation and Inventory Management to Excel

On this day, I focused on extracting the internal audit report related to the operations and inventory management of SKPW. This involved a comprehensive review of the report to identify critical data points relevant to operational efficiency and inventory control practices.

I carefully selected key tables and figures that highlighted aspects such as inventory turnover rates, stock levels, and operational workflows. After capturing these sections, I took screenshots of each relevant table and inserted them into an organized Excel spreadsheet. Each table was labeled appropriately, and I ensured that the data was formatted for clarity and ease of analysis. I also included notes where necessary to contextualize the data and indicate any findings or recommendations from the audit.

Lessons Learned:

Extracting this report prompted me to critically evaluate current operational processes within SKPW. Recognizing areas for improvement helps to enhance overall productivity and effectiveness.


Day 98 (14 August 2024)

Updating Revenue Working Paper - Monthly Report Progress

I focused on updating the revenue working paper for the Baraqah project. I analyzed the monthly revenue figures, ensuring that I accurately reflected the revenue received based on the percentage of completion for the financial year-end. I cross-referenced this data with the project milestones and invoices to confirm accuracy.


Lessons Learned:

This task taught me the importance of aligning revenue recognition with project milestones, reinforcing my understanding of the percentage-of-completion method. It emphasized the need for precise tracking to ensure financial statements reflect the true performance of projects.


Day 99 (15 August 2024)

Updating Revenue Working Paper - Monthly Report Progress

The following day, I updating the revenue working paper for the RM Damai project. I reviewed the financial data and ensured that the reported revenue corresponded with the completion percentage. I collaborated with team members to gather any missing documentation and clarify figures, ensuring that the working paper was comprehensive and accurate.

Lessons Learned:

I learned the value of collaboration in the auditing process. Working with colleagues to verify data not only improves accuracy but also fosters a team-oriented approach to problem-solving.


Day 100 (16 August 2024)

Updating Revenue Working Paper - Monthly Report Progress

 I updated the revenue working paper for the One Plus One Marketing project. I meticulously documented the revenue recognized and compared it against the budgeted figures and actual receipts. I ensured that all calculations were clearly presented and that the rationale for revenue recognition was well-documented.

Lessons Learned:

This experience enhanced my analytical skills, particularly in comparing budgeted versus actual figures. It highlighted the importance of thorough documentation and the need for clear explanations in financial reporting.

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