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1.2 Industrial Training Experience
Industrial Training is one of the compulsory subjects in all Faculty of Business and FINANCE Programmes’ course structures. It is compulsory for every final year undergraduate to undergo industrial training for the duration of three months before completing their courses. With the combination of knowledge and work experience during the three months training, students are required to produce a written report.

The objective of industrial training is to provide an opportunity for students to observe real life practices and develop their understanding of methods and applications of the accounting theoretical and conceptual framework in a real working environment. Additionally, the training program also provides an opportunity for the industry to identify potential employees from the industrial trainees.

I joined Lawrence Wong & Co on 1st October until 31st December 2012. During these three months of industrial training I was involved in bookkeeping, auditing, taxation and the company's secretarial function. This was a good opportunity for me to learn more about the business . Because of this, I can now APPLY my accounting knowledge to the real world, such as accounts entry, auditing and so on.

At first my company supervisor discussed with our colleagues   my tasks , after that only my colleagues assigned   tasks to me. My company supervisor only gave me   tasks after I had completed the work that was assigned by my colleagues. When I   faced some problems that I have never encountered before, I discussed with my company supervisor and colleagues together to solve the problems. Luckily they treated me well and taught me with patience. Therefore, I increased my knowledge of accounting, auditing, and taxation from my company supervisor and colleagues.

CHAPTER 2
SCOPE OF TRAINING
2.1 Statutory audit
When I arrived on my first day, my first task was to do a statutory audit. Statutory audit is part of an in-house audit. Whilst I...