INSTITUTE OF ACCOUNTANCY ARUSHA

DODOMA CAMPUS
DEPARTMENT OF ACCOUNTS AND INFORMATION
TECHNOLGY
FIELD REPORT ABOUT DUTIES OF ACCOUNTANT IN RELATION WITH
INFORMATION TECHNOLOGIES

STUDENT NAME : JOURNEY MASSAWE

REGISTRATION NUMBER : ODAIT 040 085 2023

PROGRAM : ODNARY DEPLOMA IN ACCOUNTS AND

INFORMATION TECHNOLGY
YEAR OF STUDY : FIRST YEAR

NAME OF THE ORGSNIZATION : EXTRA CAPITAL MICROFINANCE

LOCATION OF FIELD TRAINING : SIXTH ROAD, MADUKANI, DODOMA
URBAN

FIELD ATTACHMENT PERIOD : November, 2023 to December, 2023

MARKER’S/ SUPERVISOR ’S NAME : DR. SIMON MLUNDI

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ACKNOWLEDGEMENT

I would like to address the Authority of Extra Capital Microfinance (ECM) and particularly
Madam Immaculate Alfred Ntengo as the Managing Director (MD) Mr. Yohana Makala as
Branch Manager (BM), Mr. Maanya Ibrahim as Branch Supervisor (BS) and Mss. Jackline
Tenga Human Resources Manager (HR) for accepting my request to conduct my field study at
ECM.
Also I would like to thank you a lot Mr. Blackson Mwakabungu Loan Officer(LO) and
Miss Magreth Joel Loan Officer (LO) who ware abundantly helpful and offered invaluable
assistance, support, guidance and their very ready to share their experience with me.
Also Honorable goes to my beloved Family and also Miss Sophia Liwali for his
encouragement, everlasting love, contribution and support through the duration of my field as
well as my collage supervisor Dr. Mlundi for his valuable guidance, advice, support, and care,
his willingness to motivate me contributed extremely to my project.
Last but not list I would like to thank the Institute of Accountancy Arusha and the
whole teaching staff, individuals, and the all departments of diploma studies for preparing
intellectual skill up to the level of being able to write long discussion about the field, my
classmates and discussion group for their help and wishes for the successful completion of this
project.

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ABSTRACT

This report comprise six weeks practical training performed at Extra Capital Microfinance in
Dodoma by Journey Roman Massawe as part of a first year of Ordinary diploma course
provided by The Institute of Accountancy Arusha (IAA) Dodoma campus
This report composes Three Chapters which describe type of company, type of loans, duties of
IT Technician in Accounts as follows
Extra Capital Microfinance (ECM) as it is shown below;
In the first chapter it outlines and explains the general impression of the Company which
includes the background of Organization, major service, organizational structure, and number of
employees, activities, and customers.
In second chapter describes activities and duties performed during the training period as
an IT Technician in Accounts. The duties and activities were assigned to the trainee and ware
performed depended on the rules and procedure, all activity assigned where completed with the
use of office resources despite of challenges faced in IT and Accounts department.
Third and final chapter provides a conclusion and recommendation on the field of work.
In this chapter provide concentrates on the role a college can play to make a practical trainee
more accuracy for both participants that is to reduce the gap between teaching theory and
practice.
Those theoretical works are much concentration and critical thinking hence regarding of
those hardship faced to performance of practical work I succeeded to learn different things to get
good experience

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TABLE OF CONTENTS
INSTITUTE OF ACCOUNTANCY ARUSHA (DODOMA CAMPUS)………………………..…..i
ACKNOWLEDGEMENT....................................................................................................................ii
OBSTRACT………………………………………………………………………………………….iii
LIST OF FIGURE AND TABLE.............................…………………………………………………iv
LIST OF ACRONYMS /ABBREVIATIONS:.....................................................................................v
CHAPTER ONE
1.0 INTRODUCTION..........................................................................................................................1
1.1.0 OBJECTIVES OF THE FIELD
ATTACHMENT…………………………………………………………………….………….….....1
1.2.0 ORGANISATION STRUCTURE OF EXTRA CAPITAL MICROFINANCE..........................3
1.2.1. HISTORY OF THE COMPANY………………………………………………………….…...3
1.2.2. LOAN INTRESETS AND LOANS FEE………………………………………………….…...3
1.2.3. TYPES OF COLLETERAL ACCEPTED……………………………………………………...3
1.3.0 TYPE OF BUSINESS.4
1.4.MAJOR SERVICES OFFERED BY EXTRA CAPITAL MICROFINANCE...............................4
1.5.ACTIVITIES AT EXTRA CAPITALMICROFINANCE……………………………...…………4
1.6.0. TABLE SHOWING THE NUMBER OF EMPLOYEE OF ECM…………………………..…5
1.7.0.CUSTOMERS……………………………………………………………………………..…….5
CHAPTER TWO
2.0 EXPERIENCE……………………………...…………………………….……………….………6
2.1. DUTIES AND RESPONSIBILITIES……………………………………………………….…..7
2.2. NEW KNOWLEDGE AND SKILLS GAINED............................................................................7
2.3. THINGS ENJOYED MOST AND WHY..........................................................................................9
2.5 PROBLEMS EXPERIENCED AND HOW TO HANDLE…………….…………………….....….9

CHAPTER THREE
3.0 CONCLUSION AND RECOMMENDATIONS..............................................................................10
3.1.1 BENEFIT OF FIELD ATTACHMENT PROGRAM TO STUDENT……………………..........11
3.1.2 BENEFIT OF FIELD ATTACHMENT TO THE ISTITUTE…….…………………………...…11
3.2RECOMMENDATION……….……………………………….……………………………………11
4.0 REFFERENCE……………………………………………………………………………….….…12

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LIST OF FIGURES AND TABLE

LIST OF TABLE
First Table………………………Organization and structure of Extra Capital Microfinance
Second Table……………………………………………….. Loan Interests and Loan Fees
Third Table…………………………………………………… Number of Employees

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LIST OF ACRONYMS /ABBREVIATIONS:
IAA………………………………….INSITUTE OF ACCOUNTANCY ARUSHA
ECM………………………………….EXTRA CAPITAL MICROFINANCE
ODAIT………………………………ODINARY DEPLOMA IN ACCOUNTS AND IN
INFORMATION TECHLOGY

MD…………………………………..MANAGING DIRECTOR
BM…………………………………. BRACH MANAGER
HRM……………....…………………HUMANA RESOURCE MANAGER
LO……………………………………LOAN OFFICER
CO…………….……………………......COMPLIANCE OFFICER
IT………………………………............INFORMATION TECHNOLGY

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 CHAPTER ONE

1.0 INTRODUCTION.

Practical training is an important component for the ordinary diploma programs. This is mainly
because it provides an opportunity for a student to integrate theory and practice. The student would
obtain training and valuable experience in a real life situation which cannot be simulated in classes.
Through this training the institution hosting the student will receive new ideas, enjoy up to date
information, obtain a good analytical skills in solving problems, and having personnel who are flexible
and adaptable to change and who are eager to work well in.

1.1.0 OBJECTIVES OF THE FIELD ATTACHMENT.

The Institute of Accountancy Arusha (IAA) they establish field practical training to their student’s in
order to practice practically what they learnt from the class. Field education is systematically designed,
supervised, coordinated, and evaluated on the basis by which students demonstrate the achievement of
program objectives.
The field attachment report enables students to get an opportunity to practice what they are learnt
in a class so as to tackle different situations during the field work.
The field attachment, it’s enhances and sustain student to get enough experience on how to
conduct a work, to be effective and efficient to their responsibility, terms of employment and ethics.
The field attachment report leads to the opportunity chance to infuse agencies with new and
updated concepts for delivery of services, and to aid in providing for more knowledgeable
professionals Also through the field attachment the student can be able to apply the skills and
knowledge that they got from the college to deal or solve different technical problem in the working
site and life in general.
To make students to become social because they work with different workers, which help to
learn much of the office culture and how to work as a team and improve the students’ ability and
comfort in working with and on behalf of clients.
To achieve this work the students must be placed in an Organization where can practice this
theory he/she got from the class.

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 To getting new ideas, using good problem solving analytical skills, enjoying up to date
information and having personnel who are flexible and adaptable to change and who are eager to work
well in teams.
To have an experience on practical training more than theories we have gained in collages from
our lectures.

1.2.0 ORGANISATION STRUCTURE OF EXTRA CAPITAL MICROFINANCE.

Extra Capital Microfinance is company that has a very simple organization which comprise of Chief
executive officer, managing Director, Branch manager and departments of Loan, Legal, Compliance
Information technology and Accounting Departments

EXTRA CAPITAL MICROFINANCE

EMPLOYEE CHART

CHIEF EXERCUTIVE OFFICER

CEO

MANAGING DIRECTOR
MD

BRACH MANEGER
BM

HUMAN RESOURCES MANAGER

HR

ACCOUNTANTS

COMPLIANCE OFFICERS
CO

LOAN OFFICERS
LO

DRIVERS

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1.2.1. HISTORY OF THE COMPANY
Extra Capital Microfinance (ECM) is a private financing company that deals in loan business, The
Company was established in 2020, and it has been in the financing business for three years. It aim is to
fill the gap, where there is a gap in finance the company fills it, this is the company motto.
Vision; to be a Reliable Financial Intermediary in Tanzania
Mission; to constantly deliver the Excellency Lending services to all economic active people
The Company emphasizes in core values as follows
Accountability
Transparency
Self-improvement
Integrity
Innovative
Team work

1.2.2. LOAN INTRESETS AND LOANS FEE

Extra Capital Microfinance deals in declining balance amortization in calculating interest’s rate of loans
in the number of months that the loan is supposed to be issued. The rate of the company is 3.5% per
month to all types of loans services offered .the cost of loans fee that is deducted in the customer’s loans
is 9% plus 10,000

NO COSTS OF LOAN AMOUNT OR RATE

PROCESS DEDUCTED
i. FORM FEE 10,000
ii. PROCESS FEE 5% OF THE APPROVED LOAN
iii. LIGAL FEES 2% OF THE APPROVED LOAN
iv. LOAN INSURUENCE 2% OF THE APPROVED LOAN

All this cost will be deducted from the approved loan

1.2.3. TYPES OF COLLETERAL ACCEPTED

Extra Capital Microfinance ask its customer’s to provide loan securities as collaterals of the loan applied
This collaterals include
Land deed
House ownership deed
Vehicles ownership deed
Heavy machine ownership deed

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1.3.0 TYPE OF BUSINESS.

Extra Capital Microfinance is a non-Government Organization which provides Loan services to the
Community. The company aspires to accomplish its vision and mission through offering immediate or
emergency and problem solving loans each year .The company deals in granting the loans to people’s
business individual companies and employees.

1.4.0 MAJOR SERVICES OFFERED BY EXTRA CAPITAL MICROFINANCE (ECM).

The ECM has a function of filling the gap. Loans. Also ECM provides business advice on how to utilize
the financial help to a costumer gain .The services are provided at to improve the living standard of the
people. Specifically, the following are major services provided.
Business loans
This are loans given to business owner, with a valid business license, experience of conducting a business
not less than three consecutive months, and availability of a collaterals
Company or Corporate loans
This are type of loans that are special for corporate or companies, this particular loans are there to
facilitate the need of funds, emergencies, purchases or any financial related matter. Extra Capital
Microfinance will be there to fill the gap
Employee’s loans
This are loans special for employed individuals, an employee could be supported financial through loan
application at extra capital, the loans facilitate the payment of school fees for their children ,land
purchases rent payment and other financial difficulties

1.5.0 ACTIVITIES AT EXTRA CAPITAL MICROFINANCE (ECM).

Extra Capital Microfinance (ECM). Performs different activities under specific departments. These
activities can be stipulated as follows:
Marketing, this is the backbone of every microfinance, ECM engages in advertisement so to create
popularity and awareness so as to get new clients, also marketing is done by all employees
Loan application, this mainly involves loan officers they deal in client’s loan application, the
explaining and signing of a loan contract to a client.
Data recording, after the application process the data collected before and after loan approval
will be recorded in the system. Computer program at the company
Client’s visitation, after the signing of a contract, the company sends its officers to assess the
client’s collateral, business and house of a client to see if it’s worth of a financial support
Loan Claiming Process this activity involves the follow up on the days of installment ,loan
officers (LO) supervise that the loan installment is paid due date
Claiming process involves the issuing of notice if the installments has been delayed, and failure to
pay the office will involve auctioneers for seizure of collaterals.

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1.6.0 A TABLE SHOWING THE NUMBER OF EMPLOYEES FOR ECM.
S/NO DEPARTMENT NUMBER OF
STAFF
1 Administration and Personnel 3

2 Accounts 3

3 Compliance 4

4 Loan officers 10

5 Marketing 2

6 Information Technology 2

7 Legal unit 2

8 Human Resources 4
9 Kitchen and Cleanness 3

10 Drivers 2
11 Security 2

TOTAL STAFF 37

1.7.0 CUSTOMERS.

The Customers of Extra Capital Microfinance are the general business owners, private companies,
cooperates and employees of different vacancy; we provide loans to individual and companies that
are operating in Dodoma urban, but process of expansion are on the table for the coming years

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 CHAPTER TWO
2.0 EXPERIENCES
My time at ECM has been very helpful I was given duties and responsibilities as one them ,it involves
tasks that ware accomplished with flying colors the following are experiences that I gained in conducting
my field training.
2.1 DUTIES AND RESPONSIBILITIES
The mainly purpose of the study was to Identify the duties of an Accountant in Information technologies
in financial firm
As the time spent at Extra Capital Microfinance I was able to understand and perform the duties of the
Accountant and IT technician following are duties of an IT technician in accounting related matters

2.1.1 DUTIES
Computer maintenance and repair this involves the constant updates of software, repairing
damaged computer, and changing of new and updated hardware
Improved efficiency one of the duties was to improve the computer performance to maintain
and improve all computer related task in accounting matters

Reduced costs, IT technician with the knowledge helps reduce costs. For example, IT can be used
to streamline operations and eliminate the need for paper-based processes. This can lead to significant
savings in terms of time, money, and resources. The use of electronic data storage through computer, this
is a duty of a Technician

New and innovative products and services, new and innovative products and services to the office
and costumers. For example, to provide a way to monitor online banking, mobile banking, and other
digital banking services. These services can make it easier for the office to manage their finances and
access their money. Through new innovation and computer services

Risk management, another duty is to help the office to manage risk. For example, good
computer hardware can be used to monitor transactions for fraud and to assess the risk of lending to a
particular customer. This can help offices to protect themselves from financial losses.

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2.1.2 DUTIES ASSIGNED
When I arrived at ECM, I was given a Practical Training my Supervisor Maany Ibarahim and Jackeline
Tenga my Human Resources Manager. The departments I had to undertake my training was IT
department. Several responsibilities that I was assigned during training include;
Serving as the first point of contact for IT support within the organization

Installing, configuring and maintaining software and hardware components of computer and
network systems

Diagnosing and troubleshooting software and hardware issues

Repairing and replacing damaged computer and network components

Ensuring the security of client and server computers by installing and upgrading antivirus and
firewall software

Supporting people whenever they encounter challenges with computers and network devices

Maintaining and updating technical documentation regularly in scale-fi app and excel in all
accounting matters

Testing new hardware and software before full-scale installation

2.2 NEW KNOWLEDGE AND SKILLS GAINED:

Being in the organization, I experienced new life style and how employees working together as a team
despite their differences to achieve the same goal. I learned important thing how working relation
influences performance in the organization. I also gain a lot of skills and knowledge which is practically
oriented gained and fulfills the theoretical knowledge learned in the class. New knowledge and skills
gained from the duties assigned are as follow:
Paying attention at work several instructions were usually given to the student like separating,
sorting and others. A lesson of paying good attention and being a good listener made the intern a perfect
performer because the student could easily note down what was told and after put it in action.
Exposure to the working environment, in the field attachment the intern learnt how the working
environment is and what is required in order to have your set goals accomplished. This boosted the
understanding which was mainly theoretical to be practical.
Time keeping, good time keeping was paramount especially registry which was always floated
with duties and assignments that had to be performed fully and accurately. I had to be early for work so
as to accomplish the assigned duties in time.

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 Working in teams, working individually would take long time to accomplish duties and would
be sole decision making. Therefore I learnt the benefits of working in teams for effective performance of
the assigned duties. This was in line with the principles of management the intern learnt in class.

Apologizing, the art of apologizing for any wrong done before the supervisor learns of it
effectively practiced in the field. The supervisor should know of your mistake from yourself rather than
hearing it from other person. The intern got to learn that if one apologizes, he will not be able to make the
same mistake again.

Being hardworking most employers do not wish to employ people who are not hardworking
and since hardworking is a source of admiration and effective performance. The I learnt to work hard so
as to improve on the wellbeing in order to establish a good and stable relationship with the other interns
in the office. To add on that, the people the intern was working with were so hard working and it was an
embarrassment to be reluctant just as the saying goes, hard work pays.
Descent dressing it is so great that the intern had to change the style of dressing during my
internship, in this case it doesn’t mean that the intern used to dress indecently but during the internship
the student had to get used to dressing in office wear which most men and women did at ECM
How to be welcoming to people due to the fact that the interns were welcomed in a very
hospitable way, taught me a lot to treat people equally and nicely during the field, many people used to
come for different reasons and hence the students had to learn and cope with employees and employers
on how they handle people hence copy a leaf from them.

Understanding the different terms used in microfinance. Extra Capital Microfinance is a

non-Government Organization which provides Loan services to the Community. The student learnt that
it’s more of private sector accounting which deals with different terms for example a areas, repayment
schedule PAR(portfolios at risks) and how its calculated

2.3 THINGS ENJOYED MOST AND WHY:

For the time of practical training session, I enjoyed many things that we practice but the Most are
cooperation between the workers in particularly every department when they handle complex things
during their works. Also they share new works idea from us (field trainees) by giving us opportunity to
cooperate effectively in every step/stage of work conducted such us the whole process of procuring
clients, and/or services offered
Among the things which I enjoyed most are:

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 Coordination of the organization and unit between the employees. I enjoyed working at ECM
because their good cooperation and relationship with the members at working time and respond
positively resolution solved of any problem when occurred.
The staff members were very friendly and made me feel welcome all the time.
Mutual cooperation from the staff members. They offered me most of their time when I needed any kind
of assistance from them.
The excellent customer services: The people who employed in this organization are very
experienced of customer care it proved good service to the customers at a time and using polite language
to communicate with her.

2.4 THINGS I ENJOYED LEAST AND WHY:

Most of the duties I did perform at ECM were routine. This made me get used to them and thus make it
easier for me to perform them effectively and within the short period.
I was very interested to know much about the SCELFI a computer software that keeps and record their
loan data, interest accumulated ,and show penalties of client and other many stuff but according to
regulations, I had no access to the system.

2.5 PROBLEM EXPERIENCED AND HOW TO HANDLE:

It’s hard for me to say, I didn’t face any great problem in executing the tasks assigned to me. The staffs
are well cooperated and they work in teams; therefore they were very helpful to me in terms of any
difficulties, the problem experienced and how to handle as following:
This was the biggest factor in the organization, inadequate equipment included, computers, chairs,
enough room for the internees. At ECM they accept students doing intern until all departments were full
then no more admissions where allowed hence inadequate computers, this limited the intern’s experience
in working I his own computer
Poor (or nonexistent) Network security is considered one the most critical parts of keeping your
business safe, along with avoiding common IT problems that little or no network security could bring
hacking problems. I faced this problem and provide suggestion on which software for security and
malware protection such as window defender, kerpsky, and frequent change of password in data server id
login
The Downfall of Old Technology there’s nothing worse than having your old and slow-working
IT systems fail and not having the resources to fix them because of how out-of-date they are.
So I advise the firm on how to update their technology and to get rid of the old ones

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 CHAPTER THREE

3.0 CONCLUSION AND RECOMMENDATIONS:

3.1CONCLUTION
Practical training session was relevant to me in obtaining training and valuable experience in
life in general also it’s been an important tool in my studies. This is because it helped me to integrate
theory and practice. It enhanced my skill, knowledge, work abilities, attitudes towards my area of
specialization and develop habits of critical thinking and get exposed to managerial decisions.
The major strength of field attachment is to expose students to learn more in practical work also
the presence of academic supervisor can check whether the objectives of the field work are met and
noting challenges student facing then assist. Its major weakness is difficult to get a place or organization
related to the field work; sometimes things we learnt in the practical field are not all taught in the class,
this is due to the gap between the theory and the practice. The trainee struggled to get place to do field
work, for example, many trainees apply seeking for placement to various organization, but the majority
do not respond to the application letters until trainees go to the organizations asking for responses

3.1.1 BENEFIT OF FIELD ATTACHMENT PROGRAM TO STUDENT;

Will be exposed to a pool of potential employees from which to select. This will ultimately reduce the
cost of induction or orientation of new employees.

Will gain experience to the demands and challenges of the work place.

Will have improved appreciation of the profession and therefore better work ethics.

Will getting new ideas, using good problem solving analytical skills, enjoying up to date information and
having personnel who are flexible and adaptable to change and who are eager to work well in teams.

Opportunity to relate to different categories of people likely to be met in the real-life situation and
improve their confidence in problem solving.

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Will acquire new knowledge and practical experiences.It enhanced my skill, knowledge, work abilities,
attitudes towards my area of specialization and develop habits of critical thinking and get exposed to
managerial decisions

3.1.2. BENEFIT OF FIELD ATTACHMENT PROGRAM TO INSTITUTE:

Will receiving new ideas, using good problem solving analytical skills, enjoying up to date
information and having personnel who are flexible and adaptable to change and who are eager to work
well in teams.
Building closer links with the university and having better opportunity for extended assessment
for possible future employment.
Will be exposed to a pool of potential employees from which to select. This will ultimately
reduce the cost of induction/orientation of new employees.
Will get additional human resource for effective and efficient service delivery.

3.2: RECOMMENDATIONS:
The organization should show strong cooperation to the student attached to their Organization for field
work. This will encourage that student to work hard and increase confidence of the student to become
more competent.
Currently, many organizations make use of computers so the IAA Dodoma Campus should
concentrate more on what is going on different Organization to provide knowledge about how to keep
records by using computer especially to practice accounting packages.
Institute of Accountancy of Arusha Dodoma Campus must look for the period provided to do the
field work because six weeks is not enough to participate to the Organization and write a report so the
time should be extended in order to understand more practical to solve the accounting issue.
Also the field attachment program should proceed even to future students because it will enable
them to learn the practical tasks and to relate the things which have been taught in class and the tasks
which performed in different organizations. Also, this will enable their lectures to know how they can
teach the things which will be applied to the practical works performed in different organizations by
reading their field attachment reports.
Finally, I would like to advice that the field attachment program should be undertaken even to
the first year students so that they will be aware earlier in what thing have to be considered in
conducting the field attachment in term of dressing, communication, discipline and efficiency in
performing the tasks

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4.0 REFERENCES
i. [email protected]
ii. www.cpm.co.tz
iii. [email protected]
iv. [email protected]
v. [email protected]
vi. [email protected]
vii. [email protected]
viii. [email protected]
ix. Extracapitalmicrofinancetz-Instergram
-Facebook
-twitter (X)

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