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PRACTICAL TRAINING REPORT (PAC600)
SEMESTER AUGUST 2013 – JANUARY 2014 PREPARED BY NORSHAKIRAH BINTI KAMARUDDIN BACHELOR DEGREE (Hons) IN ACCOUNTANCY/AC220 2010791179 FIRM KANEKA (M) SDN BHD, KUANTAN SUBMITTED TO EN MOHD ZULFIKRI BIN ABD RASHID DATE OF SUBMISSION 31 DECEMBER 2013

FACULTY OF ACCOUNTANCY UNIVERSITI TEKNOLOGI MARA MALAYSIA

Kaneka (M) Sdn Bhd

STUDENT PROFILE

NAME MATRIX NO. ADDRESS HP NO : NORSHAKIRAH BINTI KAMARUDDIN : 2010791179 : D 523 FELDA MELATI JENGKA 11, 26400 BANDAR JENGKA, PAHANG DARUL MAKMUR : 013-9383539

EMAIL ADDRESS : shakira_akiera@yahoo.com

Practical Training Report (PAC600)

Kaneka (M) Sdn Bhd

TABLE OF CONTENTS

PARTICULARS
Acknowledgement Executive Summary Introduction 1.0 2.0 Background Of The Firm…………………………………............. Summary Of The Job Done……………………………………….. 2.1 Computerize Accounting…………………………………… 2.2 Financial Accounting………………………………………... 2.3 Cost Accounting……………………………………………... 2.4 Administrative……………………………………………. 3.0 Conclusion…………………………………………………………...

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1 2 3 3 4 4 5

Appendices

Practical Training Report (PAC600)

Kaneka (M) Sdn Bhd

ACKNOWLEDGEMENT
First of all, I would like to be grateful to Allah S.W.T by reason of giving me chanced to finish my industrial training in fixed period and giving me a good health along this training. Without His power, I was unable to finish my training in expected time. I would like to thank Kaneka (Malaysia) Sdn Bhd for giving me an opportunity to undergo my industrial training there. I also would like to express my appreciation to En. Haron Bin A. Alim, my Coordinator Practical Training Program for his help, support and cooperation. Besides that, I would like to express my appreciation to my Manager, Mr. Kong Woon Fat, my supervisors Ms. Vivian and Ms. Sabrina as an Assistant Manager, the executives Ms. Edariati and Ms. Daphne and other officers in account department for giving me a lot of support and cooperation in teaching me relating to accounts matter. Because of their kind-hearted, I was able to gain a lot of knowledge during my training. Also not forgotten to En. Mohd Zulfikri Abd Rashid from UiTM Jengka, Pahang for being my evaluator and come to KANEKA to evaluate my training and giving me his support for me to complete this industrial training. Lastly, I would like to show my appreciation to my parents for giving me moral support, my friends who helping me in anything even though we are in different firm and to my officemates by giving their moral support. Thank you.

Practical Training Report (PAC600)

Kaneka (M) Sdn Bhd

EXECUTIVE SUMMARY
I had completed my industrial training at KANEKA (M) SDN BHD where it is situated at Lot 123-124, Jalan Gebeng 2/3, Gebeng Industrial Estate, 26080 Kuantan, Pahang Darul Makmur. For six months I have been done accounting instead of doing administrative job. The six months experience exposed me to the real working environment, which contributed valuable knowledge and experience. Thus, I have the chance to apply back all the theories that I had learned during the class. I hope my report will provide explanations/justifications especially to my supervisor Ms. Vivian Ow Oi Lan as well as guideline to increase and improve the Industrial Training program in the future.

Practical Training Report (PAC600)

Kaneka (M) Sdn Bhd

INTRODUCTION Industrial Training is compulsory for all the final semester students in Universiti Teknologi Malaysia (UiTM), which is a part of academic credit hour to have a degree. As an accounting student, they must undergone practical training for 6 months as per requirement of UiTM before they were qualified to receive a Bachelor Degree of Accounting. With the combination knowledge working experience during the 6 months training, students are required to produce a written report.

1.0

BACKGROUND OF THE FIRM Kaneka has been established in Japan on September 1st, 1949. Kaneka Corporation is a diversified company with over 50 years’ experience in the manufacture of multiple products including chemicals, polymers, plastic resins, foodstuff, pharmaceuticals, electrical & electronic materials, film and synthetic fibers. Kaneka began its global manufacturing and marketing network with the establishment of Kaneka Belgium NV in 1970. Subsequently, Kaneka established subsidiaries in Europe, North America, Australia and several countries in Asia. Kaneka started its operations in Gebeng Industrial Estate, Kuantan, Pahang Darul Makmur in 1996 manufacturing Impact Modifiers, Expanded Polyethylene, Polypropylene, PVC Paste Resins, Synthetic Fibers Wig and Polyimide Film. In August 1995, Kaneka Corporation established its first subsidiary in Malaysia known Kaneka (Malaysia) Sdn Bhd. Since then there another subsidiaries were established in Malaysia plant. There are Kaneka Electec Sdn Bhd (closed on
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Training Report (PAC600) 1

Kaneka (M) Sdn Bhd

2008), Kaneka Eperan Sdn Bhd (established on 1996), Kaneka Paste Polymers Sdn Bhd (established on 1999), Kaneka Innovative Fibers Sdn Bhd (established on 2010) and Kaneka Apical Malaysia Sdn Bhd (established on 2012). All of these subsidiaries are located on a 98-acre piece of land in Gebeng Industrial Estate, Kuantan Plant. Kaneka has used “Our Science makes wishes come true” as their vision and mission of organization. Their Corporate Philosophy are breaking fresh ground for the future and tie in to explore New Value with people and technology growing together into creative fusion and also committed to challenge the environmental issues of our planet and contribute to upgrade the quality of life.

2.0

SUMMARY OF THE JOBS DONE For six months being in Kaneka (M) Sdn Bhd, I’ve got many experience in new things related to accounting field such as Financial Accounting, Cost Accounting, Computerize Accounting and a little bit on Administrative. I’ve realized that this field is very challenging where we need to have skills and knowledge to apply in order to complete the account job. At the same time accountant need to prepare a strong physical and mental and also able to handle the pressure because we need to complete the account work in specific time. Then, the theory we learned in lecture room was very useful to come up with accurate decision or conclusion.

Practical Training Report (PAC600)

2

Kaneka (M) Sdn Bhd

2.1 Computerize Accounting Kaneka (M) Sdn Bhd use System Application & Product (SAP) Accounting Software as their main system that has been used by the whole department. This is a system that is developed based on company requirement. This software is costly because the software cannot be bought in any store. Kaneka had to appointed a developer to develop the system. This system can be import or export data from Microsoft Excel. Throughout my internship, I’ve learned on how to create bulk payment proposal in SAP, key in invoice in general ledger (GL) account posting SAP and updating the general ledger (GL) account number in bank excel, creating fixed assets treasure in SAP and key in fixed assets in SAP. Besides, my main job is to update bank account number in SAP for every vendor in master records. I need to obtain their bank information by myself which means that I need to ask from procurement department. For the conclusion it can be said that majority task are using this system. 2.2 Financial Accounting During my internship at Kaneka (M) Sdn Bhd, I’ve been assigned and responsibility by my supervisors to assist staff in account department to do their daily accounting work. For the first task, I’ve been assigned to prepare payment voucher and cheque for immediately payment for debtors and creditors as well as prepare payment telegraphic online Sumitomo Mitsui Banking Corporation Malaysia Berhad as well as prepare for the monthly contribution for EPF, SOCSO, HRDF, ASB, UNION, MUIP and LHDN. For the second task, I’ve been assigned to assist in preparing claim. In Kaneka (M) Sdn Bhd, staffs have been
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Training Report (PAC600) 3

Kaneka (M) Sdn Bhd

provided several benefits, which they can claim it back. For example like spectacles, medical, business trip, training and etc. thus, I need to calculate and ensure the claim are entitled and follow the terms. In order to gain knowledge on accounting process, I’ve been asked by Ms. Sabrina to review past financial statement to know how they prepare monthly closing report, forecast, budget and etc. Besides, I’ve been asked to do some checking for creditor’s statement as state in SAP Accounting Software to ensure that no overdue payment and reviews the bulk payment and proposal SAP format of company. I’ve also learned on preparing letter of indemnity (lost cashier’s order), payment voucher and issue another cheque when the creditor doesn’t receive the proper cheque. I’ve also been teaches on how to prepare purchase cut off assessment for auditor. I also check petty cash statement of the month. In addition, I’ve also been assigned to update the project cost for construction account, which need me to remember the account of using debit credit. In the other hand, I’ve been asked by them to assist in preparing the depreciation forecast for Budget 2014, 2015, and 2016. 2.3 Cost Accounting After monthly closing, Kaneka has been asked by Jabatan Perangkaan Malaysia to send statistic report, which includes quantity and total sales price, production, and quantity of export import. I’ve been assigned to prepare statistic report that needs me to ask information from the planner. 2.4 Administrative While doing accounting job, I’m also asked by my supervisor to help staff doing some administrative work. For instance, photostat, scanning, filling bulkPractical Training Report (PAC600) 4

Kaneka (M) Sdn Bhd

payment and filing statement of creditors/vendors. Even though administrative work is not really give such a good experiences to the student, but I tried to change it by trying to get some information about account through the document that I photostat, scan and file. Document that I’ve been asked to photostat, scan and file is really important to the company such as agreement, accounting policy, invoice, debit note, tax advisory, and etc. instead of learn on how to use the photocopy machine, facsimile machine and also electrical typewriter properly. These are machines used for basic clerical works that the students should know how to handle. Furthermore, I also learned how to do a good filing.

3.0

CONCLUSION In a nutshell, for six months of my practical training at Kaneka (M) Sdn Bhd, I think this kind of training is important for me to get hands on experience mostly in accounting fields while improving my communication skills and sense of inquiry between the trainee and staff. It also disciplines the trainee in managing time through the jobs that have been assigned by the company. In addition, this industrial training is exposing me to the knowledge, experience and work environment, which this kind of experiences cannot be gained during the lectures. Even though the experience is different with other student whose had done their practical training in audit firm but, experience that I get from this industry is very thoughtful and when I choose this industry, I’ve challenge myself to gain experience as many as I can. I’m also able to use all the theories that I’ve learn during class for FAR, MAF and a little bit on corporate governance to assist me in completing the task given.
Practical
Training Report (PAC600) 5

Kaneka Malaysia - Headquaters

Page 1 of 1

HOME

ABOUT US

OUR BUSINESS

RESEARCH

RECRUITMENT

CONTACT US

Name President Date of establishment Offices

KANEKA CORPORATION Kimikazu Sugawara September 1, 1949 Head office (Map to Osaka Head office) 2-3-18, Nakanoshima, Kita-ku, Osaka 530-8288, Japan Phone:+81-6-6226-5050 Fax:+81-6-6226-5037 Tokyo Head office (Map to Tokyo Head office) 1-12-32, Akasaka, Minato-ku, Tokyo 107-6025, Japan Phone:+81-3-5574-8000 Fax:+81-3-5574-8121

Paid-in Capital (as of March 31,2013) Number of employees (as of March 31,2013) Line of business

33,046 million yen 3,289 (Kaneka Corporation) 8,600 (including consolidated subsidiaries) Chemicals, Functional Plastics, Expandable Plastics and Products, Foodstuffs Products, Life Science Products, Electronic Products, Synthetic Fibers Takasago : Takasago city, Hyogo Osaka : Settsu city, Osaka Shiga : Otsu city, Shiga Kashima : Kamisu city, Ibaraki Frontier Materials Development Laboratories Frontier Biochemical & Medical Research Laboratories Photovoltaic & Thin Film Device Research Laboratories Molding & Processing Development Center Process Technology Laboratories

Plants

Research institutes

http://www.kaneka.com.my/Pages/headquaters.aspx

11/21/2013

Kaneka Malaysia - Company Profile

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Kaneka group of companies in Malaysia are comprised of five companies. We are subsidiary of Kanek Corporation in Japan.
Date Of Corporation Commercial Production 1997 .Oct 1997 .Sep Paid Up Capital 94MRM 16MRM Products Kane Eperan

Kaneka (Malaysia) Kaneka Eperan Kaneka Paste Polymers Kaneka Innovative Fibers Kaneka Apical Malaysia

1995 .Aug 1996 .Jul

1999 .Jan 2010 .Sep 2012 .Feb

2000 .Nov 2011 .May 2014 .Jan (Plan)

45MRM 10MRM 94MRM

Kanevinyl (PVC PASTE) Futura APICAL

http://www.kaneka.com.my/Pages/companyprofile.aspx

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Kaneka Malaysia - Company Profile

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Copyright @ 2013 Kaneka Malaysia. All Rights Reserved.

http://www.kaneka.com.my/Pages/companyprofile.aspx

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Kaneka Malaysia - Philosophy

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On the occasion of our 60th anniversary, Kaneka have set forth a new corporate philosophy, corporate ideals and basic corpora social responsibility policy to achieve the innovation and growth that will lead us into the future.

Kaneka's Corporate Philosophy
With people and technology growing together into creative fusion, we will break fresh ground for the future and tie in to explore Values. We are also committed to challenge the environmental issues of our planet and contribute to upgrade the quality of life.

Kaneka's Corporate Ideals

Toward an Even More Impressive and Productive Future

Hold in your hands the future you have always dreamed of. We are a highly perceptive and collaborative value-creating group or, as we like to say, a "Dreamolog Company."

We want to look at the future from the same perspective as our customers. The future that Kaneka visualizes is one that connec us with our customers.

*"Dreamology" is an expression coined from 'dream' and 'ology' (science). Our "Dreamology Company" is a "highly perceptive and collaborative valu creating group."

Title Tie to the future

Description

As a research and development company brimming with creative energy and passion, we wil create future-oriented businesses that leap beyond current market needs and back them up with new product development, thus protecting the global environment and contributing to the quality of life. We are determined to become a truly global enterprise with diverse human resources working together on a global scale. Our presence will be felt in markets around the world, including newly emerging ones.

Tie to the world

http://www.kaneka.com.my/Pages/philosophy.aspx

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Kaneka Malaysia - Chemicals

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Our paste PVC is one of the products produced in Malaysia by Kaneka Paste Polymers Sdn. Bhd. The excellent physica properties of paste PVC was developed by Kaneka Corporation a leading chemical company in Japan. It has an outstanding processing capability suitable for various applications

We have a various line up of products for a variety of applications. We are carrying out research development into new products in order to meet the demand of the market and to help advances in processing technology.

Grade Chart

http://www.kaneka.com.my/Pages/chemicals.aspx

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Kaneka Malaysia - Chemicals

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Applications
Glove, Leather, Toy, Wallpapers, Flooring, Carpet, Canvas, etc…

Download ISO

Copyright @ 2013 Kaneka Malaysia. All Rights Reserved.

http://www.kaneka.com.my/Pages/chemicals.aspx

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Kaneka Malaysia - Electronic Products

Page 1 of 1

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RECRUITMENT

CONTACT US

This extremely heat-resistant, high-performance film is used as an insulator in the motors of airplanes and high-speed trains, a well as in flexible printed circuit boards, enabling considerable size reductions in Smart Phones, Tablet PCs, Digital Cameras etc..

Application

Copyright @ 2013 Kaneka Malaysia. All Rights Reserved.

http://www.kaneka.com.my/Pages/electronicproducts.aspx

11/21/2013

Kaneka Malaysia - Expandable Plastics

Page 1 of 3

HOME

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CONTACT US

Kaneka Eperan Sdn. Bhd. is one of the overseas affiliate of Expandable Plastic & Product Division of Kaneka Corporation.

Expandable Plastic & Product Division – Eperan ™ has five production locations, Osaka and Kashima Plant in Japan, Oeve Westerlo in Belgium, Kuantan in Malaysia, and Suzhou and Foshan in China. Each of the plants is serving the different region.

Kaneka Eperan Sdn Bhd has been established in Malaysia since 1996, with more than 15 years of experience in manufacturin Eperan-PP ™ Expandable Polypropylene Beads and Eperan ™ Expandable Polyethylene Beads, and also Plank Sheets.

Besides domestics market we also export our products to various countries in ASEAN, e.g. Singapore, Indonesia, Thailand Vietnam, as well as Taiwan, Australia and India. Eperan-PP ™ and Eperan which have a high performance in cushioning and energy absorption make it and ideal material used in electronics packaging, automotive parts and returnable containers.

Automotive Application

http://www.kaneka.com.my/Pages/expandableplastics.aspx

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Kaneka Malaysia - Expandable Plastics

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APPLICATION (AUTOMOTIVE PARTS)

APPLICATION (PACKAGING FOR HARD DISK DRIVE)

http://www.kaneka.com.my/Pages/expandableplastics.aspx

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Kaneka Malaysia - Expandable Plastics

Page 3 of 3

APPLICATION (PACKAGING FOR SOLAR & LCD GLASS)

APPLICATION (PACKAGING FOR ELECTRONICS PARTS)

Copyright @ 2013 Kaneka Malaysia. All Rights Reserved.

http://www.kaneka.com.my/Pages/expandableplastics.aspx

11/21/2013

UNIVERSITI TEKNOLOGI MARA KAMPUS KOTA BHARU, KELANTAN MALAYSIA

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