Report on business attachment with Singmarine Industries Ltd.

• Main Author: Fong, Weng Cheun.
• Other Authors: Nanyang Business School
• Format: Professional Attachment (PA)
• Language: English
• Published: 2009
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/17751
• Institution: Nanyang Technological University

Every Business and Accountancy undergraduates has to go through Business Attachment (BA) and a pass in BA is a pre-requisite to getting the University degree. For my BA, I was attached to Singmarine Industries Limited which is an investment holding company with business interests in shipbuilding, shiprepairing, engineering, aviation services and marine leisure. My original program as to perform internal auditing but before I arrived, the internal auditor had already left. Therefore, my original programme had to be changed. I was assigned to handle accounting work and areas of my preference. My first task was to determine the amount of fixed assets from Tanjong Rhu yard to be written off because of the recocation exercise since most of the fixed assets have either reach their useful lives or had been fully depreciated. I also tried my hand on bank roconciliations, creaditor reconciliations, proofreading thea annual report and helped to prepare the circular for the Extraordinary General Meeting for publication. I was attached to Resort Cruises for three weeks to help clear the back reconciliation, reviewed the rental collection procedures for Keppel Marina, devised an operating system for Nongsa Point Marina and went on a trip to Tioman to observe the operations abroad the atamaran, Island Jade. For my last two weeks, I did an audit on three susidiaries. Some recommendations are included in this report in relation to my observations pertaining to the activities of the Group. I am proud and glad to say that I have gained something out of the attachment and I am thankful for all the assistance that I had received.