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Angeles University Foundation

College of Business and Accountancy

A Practicum Report on
St. Catherine Realty Corporation
Angeles-Magalang Road, Pandan, Angeles City 2009
From April 22, 2018 to June 29, 2018

In partial fulfillment of the course


requirements in Internship/Practicum
For a degree in
Bachelor of Science in Management Accounting

Submitted to:
Ms. Donna May Estimada

Submitted by:
Lawan, Ella Mae B.
July 13, 2018
I. COMPANY PROFILE

COMPANY NAME
ST. CATHERINE REALTY CORPORATION

MISSION

St. Catherine Realty Corporation is the leading provider of world class quality homes in
Central Luzon. We have been awarded by the Housing and Land Use Regulatory Board
(HLURB) as the leading Developer for the year 2003 in the Open-Housing category. Our
Organization is a responsible company that holds people above profits.

VISION

St. Catherine Realty Corporation is committed in providing genuine value and long-
term relationship to the company’s stakeholders, including our customers, contractors,
business partners, suppliers, employees and communities.

In support of that commitment, St. Catherine Realty Corporation aspires to:

 Grow and pursue leadership position in each of our business.

 Extend our strategic leadership position in the real estate business and maintain a
sustainable competitive advantage over our competitors.

 Respect and care for the natural environment in which our business operates.

 Train and develop our employees for them to provide exceptional service to our
customers.

 Provide commercial establishments and residential homes of world class


standards.

 Recruit, develop, motivate, reward and retain personnel of exceptional ability,


character and dedication by providing safe working conditions, superior
leadership, compensation on the basis of performance, and attractive benefits
program, opportunity for growth and a high degree of employment security.

 Show genuine concern for the poor and neglected in our communities through
regular medical and dental mission and other philanthropic programs of the
company.

 Help build our nation by continuously patronizing our own native products.

HISTORY

St. Catherine Realty Corporation was founded by the late Don Tomas D. Dizon in
1970. As a devout Catholic and a loyal citizen of Porac, he named the company after
St. Catherine de Alexandria, the patron saint of his hometown.

St. Catherine Realty Corporation is currently the leading developer in the province
of Pampanga and has created many job opportunities for the past years and
advocates a mechanism for excellence in promoting the highest standard for real
estate development, and the improvement of quality of life. To be the largest developer
in terms of land size in Pampanga.

Today, SCRC is managed by its President Ludivina S. Dizon, with her children
Erwin S. Dizon VP-Finance, Celestino S. Dizon VP-Construction and Engineering and
Lea D. Angeles VP-Marketing. Driven by its brand promise “your partner in building
your dream” and guided by the owners and employees, SCRC is transforming itself
into an organization that empowers individuals, cultivates thought leadership and
rewards initiative. It is also committed to a development agenda that sees
entrepreneurship as the engine for progress to a better future.

The company also adheres to its founder’s advocacy to civic awareness by


conducting outreach programs and medical missions to institutions and the less
fortunate. SCRC, empowered by its Director Mr. Erwin S. Dizon continually supports
and takes action to gearing the company and its employees towards the preservation
of our environment, among which are tree planting and Earth Day every Wednesday.
BACKGROUND / NATURE OF THE BUSINESS

St. Catherine Realty Corporation is a real estate company that owns lots and
subdivisions all over Pampanga owned by the Dizon Family. It is a Eco-Friendly
Corporation for they celebrate Earth Day every Wednesday wherein employees are not
allowed to use vehicles and air conditions. In addition, SCRC celebrates Sunny day every
Monday and Health day every Thursday wherein, employees are required to take a walk
and know their weight every Thursday. SCRC is planning to expand more subdivisions,
giving customers more choices.

ORGANIZATIONAL CHART (see attached chart)

II. JOB TITLE AND JOB DESCRIPTION


JOB TITLE

 HR Assistant – Compensation and Benefits

DUTIES

 Keeping track of HR related documents and records


o Filing of leaves, undertime, memos and 201 files
 Responding to internal and external HR related inquiries or records and
provide assistance to the concerned personnel
 Helps in scheduling meetings and interviews
 Liaising with other departments or functions
 Write down, summarize and report Minutes of the meetings
 Support other functions as assigned
 Keeping track in auditing of the payroll system
 Helps in preparing the summary of benefits
 Helps in reconciling the actual and audited net pays and benefits.
TASK ASSIGNED WITH INCLUSIVE DATES

 Prepared summaries of deductions and benefits by comparing actual and


audited benefits (May 7, 16, 22, 28)

 Prepared summaries of net pays for the whole month of March and April (May
7, 10, 11, 19, 30, June 5)

 Prepared payroll for the employees (April 26, May 24, 28, June 4, 7)

 Read and understood the terms of agreement (payroll automation) between


SCRC and Chinabank (May 8)

 Made a checklist regarding the necessary requirements to set up a payroll


automated account (May 9)

 Updated the summary of leaves and undertimes of employees (May 10, 15,
21, 24, 29 June 18, 19)

 Prepared a request for payment form for the payroll (May 11, 28)

 Edited the summary of payroll adjustments into a masterlist (May 15)

 Prepared the materials request form for the supplies needed of all the
departments (May 15)

 Prepared the remittance and loan payment summary for SSS, PhilHealth and
Pag-ibig (May 16, 23)

 Updated the HealthThursday list (May 17, 24, 31 June 21)

 Prepared an IQ test for applicants (May 17)

 Prepared a request for payment form for the benefits (May 18)

 Prepared Certifate of Employment for retired employees (May 18)

 Filed and arranged 201 files of employees (May 21, June 19, 20, 21, 22)
 Updated and edited the masterdata of employees’ information (May 21, June
1)

 Accomplished business letters as requested by the employees (May 22)

 Prepared certificates for seminars (May 24)

 Helped to prepare for a seminar regarding business correspondence (May


25)

 Attended to employees’ concerns and inquiries (throughout the training)

 Prepared Statement of Accounts for the Don Bosco water system (May 28)

 Accomplished the Labor Turnover Form from the Philippine Statistics


Authority (May 29)

 Prepared loan control accounts for SSS, Pag-ibig and SEF (May 31, June 4,
5, 9)

 Prepared schedule of 13th month benefits (June 1)

 Prepared memos (June 4)

 Organized loan vouchers per date (June 5)

 Attended a meeting on company policies (June 19)

 Made a template of Introduction Letter needed for the payroll automation


(June 22)

III. MANAGEMENT SUBJECTS RELATED TO MY TRAINING


Fundamentals of Accounting. The training helped me to understand the
concepts and principles of basic accounting as well as the capability to perform basic
accounting functions like recognition, valuation and measurement of business
transactions. Although I did not experienced it first-hand, I was able to oberve how these
functions work in real life. Through my immersion and interaction with people from the
different departments, I was able to grasp how disbursement, releasing, treasury and
audit handle business trasactions. I was also enlightened how business documents like
checks, vouchers, requests for payment forms, and other negotiable instruments are
utilized. As for payroll, I was able to understand the different paying schemes, how they
are computed and the proper deduction/benefits that each employee should have.

Financial Accounting. Collaborating with Ms. Angelia Angeles, the head


accountant of Saint Catherine Realty Corporation, opened new doors that helped me
appreciate financial accounting in a deeper level. I was able to review the financial
perfomance and results of operations of the company through the survey form from the
Philippine Statistics Authority. The tasked to accomplish the form was given to me with
the help of Ms. Angeles and through it, I was able to learn the recognition and
measurements procedures that are being followed by the company. I was also immersed
in the Accounts Receivable department and was exposed to the way how accounts
receivable are treated, measured and maintained.

Cost Accounting and Cost Management. One of the main objectives of cost
accounting is to record all the cost incurred if a business in a way that can be used to
improve its management. As I prepared payroll, I was able to understand how the cost
spent to pay the employees is an important factor to the success of the business. Although
it is a big part of the company’s expenses, the cost allocation for it should be reasonable
and justifiable enough to keep its employees motivated. Through this motivation, no
matter how costly it is keep up with paying the salaries, it would still bring positive
economic flows to the entity because satisfied employees means better performance.

Obligations and Contracts. I was assigned to read and understand the contract
and terms of service rearding payroll automation between St. Catherine Realty
Corporation and Chinabank. It helped me appreciate the Law on Obligations and
Contracts because it made me understand the terms of agreement between the parties.
I was also able to understand the importance of having contracts executed and the
importance of fulfilling the obligations between parties
Business Communication. Since I was primarily assigned in the HR department,
I was able to interact with a lot of people from employees to external clients. I attended to
queries and other needs of the employees. I also served as an assistant to the
administrator for a short period of time wherein I experienced going on a meeting with the
Board of Directors and other significant people. I also did holiday memos, disciplinary
memos and minutes of the meeting which helped me to improve my business
communication skills.

IV. WORK OBSERVATION AND ANALYSIS


A. AREAS OF CONCERN

a. ORGANIZATIONAL STRUCTURE

Considering the company is a family owned business, conflicts are


inevitable. Family businesses are faced with internal conflict that typically
arises from the inability to separate business and their personal lives.
Sometimes, these conflicts are due to the varied interests of each family
member, personal egos or personal rivalries. The company is presided by
the mother, Mrs. Ludivina Dizon, Mr. Erwin Dizon as the VP for Finance,
Mr. Celestino Dizon as the VP for Engineering and Construction and Ms.
Lea Angeles as the VP for Marketing. Since they are family members,
separating emotions and business is not an easy task. Functions are
sometimes compromised because they don’t consider each other as
business partners. This should not be the case because in order to
efficiently run the business, they should separate family life and business.
Although they have an established organizational structure, the hierarchy is
not followed because almost all of the company decisions are left at the
hands of the oldest sibling, Mr. Erwin Dizon. This is not acceptable in
maintaining the business structure because instead of having a clear cut
separation of responsibilities, it seems that the voices and interest of the
owners are overlooked. This brings bias and unequal opportunities for the
other members to voice out their concerns.

b. OPERATIONS AND PROCEDURE

Overall, the company has a smooth flow in terms of its operations


and procedures. The flow of command is observed and implemented.
Although the operations run smoothly, there are noticeable slacks between
departments due to poor collaboration and communication. As I observed,
there are delays in processing of different tasks between departments due
to giant amount of workloads and poor communication. The company being
a family owned business somehow contributes to the disruption of some of
its operations.

c. EQUIPMENT, FACILITIES AND LAYOUT

In terms of the physical arrangement of the office, some departments


lack privacy. Privacy and security are necessary factors to safe keep the most
confidential files of a company. In the HR and Audit departments for example,
anyone can enter the said offices therefore compromising the security of their
confidential files. This should not be the case because only authorized people
should have access to these restricted areas. In terms of ventilation, the HR
department should have more conditioning units because it gets really hot
especially during summer. This concern should be addressed because it gets
in the way of the concentration of the employees which in turn, contribute to
their quality of work. In terms of equipment, there is shortage in the number of
computers available. As a result, works are not finished on time because
employees wait for their turn to use a computer that becomes available. Some
employees even bring their own laptops just to make sure that their tasks are
finished on time. There is also shortage on office supplies because the supplies
canvass was not yet approved by the proper authorities.
B. RECOMMENDATIONS

a. ORGANIZATIONAL STRUCTURE

In terms of the organizational structure of the company, I recommend


that the owners should not mix business and family life. They should adhere
to the company’s objectives and step aside from personal interests.
Conducting regular meetings can help to ensure that there is a forum for
family issues to be discussed. Also, they should maintain a shared goal to
keep everyone on the same page. As conflict is inevitable, there should be
an established conflict resolution process to keep running smoothly.

b. OPERATIONS AND PROCEDURE

To ensure the smooth flow of procedures, the management should


conduct seminars/workshops regarding the organizational procedures. These
seminars/workshops can help employees to familiarize themselves with the
proper knowledge of how the operations work. The company should also stick
on their plans to achieve their goals and objectives.

c. EQUIPMENT, FACILITIES AND LAYOUT

In terms of physical arrangement, the company should secure more


the privacy of the departments that contain confidential files. It should ensure
that only authorized persons are allowed to enter such departments to avoid
conflicts relating to confidential files. In terms of the equipments, the company
should provide additional computer units to help the employees do their jobs
effectively and efficiently. The use of technology is highly recommended
because it promises accurate results while minimizing the time spent on
completing tasks. In terms of the office supplies, the company should make
sure that the materials requests are accomplished on time to avoid the delay
on the purchasing of the supplies needed.
IV. CONCLUSION

Learning is not the easiest thing to do. It requires a lot of experience and human
interaction. Completing my intership experience at Saint Catherine Realty Corporation
gave me the relevant knowledge, skills and experiences. It gave me first hand experience
on how working on a real world feels like. Even though I learn inside the classrooom, I
think it is not enough to test my understanding and appreciation of the field I chose. Doing
the internship opened a lot of new possibilities for me and it exposed me to new people I
did not know that would inspire me that much. It also let me have a greater understanding
of myself and how can I achieve personal development. Knowing yourself is to know your
goals and how can you do your best to achieve them. It is not easy to know yourself
greatly but it is a great way to help you go out of your comfort zone and start making
differences. Over the course of 2 months, I was able to learn a lot of things in the corporate
world. I am confident that the experience made me ready to face the real world and what
it has to offer.