Report on professional attachment with Honeywell Pte Ltd.

This report will cover my fulfilling 8-week stint in the Credit and Treasury Department (CTS), the equivalent of the Accounts Receivable department at Honeywell Private limited. The attachment has indeed allowed me to witness first hand and to understand better how an Accounting Department works...

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Main Author: Loh, Wanjun.
Other Authors: Nanyang Business School
Format: Professional Attachment (PA)
Language:English
Published: 2009
Subjects:
Online Access:http://hdl.handle.net/10356/17542
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-175422023-05-19T06:08:59Z Report on professional attachment with Honeywell Pte Ltd. Loh, Wanjun. Nanyang Business School Florence Tan DRNTU::Business This report will cover my fulfilling 8-week stint in the Credit and Treasury Department (CTS), the equivalent of the Accounts Receivable department at Honeywell Private limited. The attachment has indeed allowed me to witness first hand and to understand better how an Accounting Department works in an MNC. It allowed me to see for myself how some of the concepts such as internal control and organizational architecture as well as cost management and cost allocation practices are being applied at the workplace. I was also able to relate and put into practice some of the technical knowledge learnt in the previous semesters such as bank reconciliation, aging of accounts receivable, bad debt provision and some of the measures companies take to avoid having to write off bad debts. At Honeywell, before any credit issue, each customer has to be screened in aprocess termed Credit Review to assess his credit worthiness. I was also able to put into use my Excel skills picked up during IT lessons and also got to explore and navigate through the accounting systems and software of the company, namely eReceivables and the Oracle. As functional excellence is one of the key Honeywell behaviours, all the accounts officers have very individual and specific job scopes. I was glad that my direct supervisor Florence attached me to a few of her colleagues so I could have a more complete picture of the whole accounting process. I also appreciated the autonomy to figure things out by myself, and the guidance given by my supervisor, prompting me to think more deeply about the rationale behind as well as implications behind the accounting procedures. Although my supervisor did give me a brief overview of the various sub-accounting departments (Accounts Receivable. Accounts Payable and the General Ledger) on my very first day of work, an even better idea I felt, was to job rotate by having each student attached to the different sub-accounting departments throughout the course of the 8 weeks. 2009-06-09T06:18:42Z 2009-06-09T06:18:42Z 2004 2004 Professional Attachment (PA) http://hdl.handle.net/10356/17542 en Nanyang Technological University 20 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Business
spellingShingle DRNTU::Business
Loh, Wanjun.
Report on professional attachment with Honeywell Pte Ltd.
description This report will cover my fulfilling 8-week stint in the Credit and Treasury Department (CTS), the equivalent of the Accounts Receivable department at Honeywell Private limited. The attachment has indeed allowed me to witness first hand and to understand better how an Accounting Department works in an MNC. It allowed me to see for myself how some of the concepts such as internal control and organizational architecture as well as cost management and cost allocation practices are being applied at the workplace. I was also able to relate and put into practice some of the technical knowledge learnt in the previous semesters such as bank reconciliation, aging of accounts receivable, bad debt provision and some of the measures companies take to avoid having to write off bad debts. At Honeywell, before any credit issue, each customer has to be screened in aprocess termed Credit Review to assess his credit worthiness. I was also able to put into use my Excel skills picked up during IT lessons and also got to explore and navigate through the accounting systems and software of the company, namely eReceivables and the Oracle. As functional excellence is one of the key Honeywell behaviours, all the accounts officers have very individual and specific job scopes. I was glad that my direct supervisor Florence attached me to a few of her colleagues so I could have a more complete picture of the whole accounting process. I also appreciated the autonomy to figure things out by myself, and the guidance given by my supervisor, prompting me to think more deeply about the rationale behind as well as implications behind the accounting procedures. Although my supervisor did give me a brief overview of the various sub-accounting departments (Accounts Receivable. Accounts Payable and the General Ledger) on my very first day of work, an even better idea I felt, was to job rotate by having each student attached to the different sub-accounting departments throughout the course of the 8 weeks.
author2 Nanyang Business School
author_facet Nanyang Business School
Loh, Wanjun.
format Professional Attachment (PA)
author Loh, Wanjun.
author_sort Loh, Wanjun.
title Report on professional attachment with Honeywell Pte Ltd.
title_short Report on professional attachment with Honeywell Pte Ltd.
title_full Report on professional attachment with Honeywell Pte Ltd.
title_fullStr Report on professional attachment with Honeywell Pte Ltd.
title_full_unstemmed Report on professional attachment with Honeywell Pte Ltd.
title_sort report on professional attachment with honeywell pte ltd.
publishDate 2009
url http://hdl.handle.net/10356/17542
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