ACCOUNTING AND FINANCE DEPARTMENT.

FIELD ATTACHMENT REPORT.

STUDENT NAME : KILALA, HAMISI R.

REGISTRATION NUMBER : ODFB/0170/T.2012

PROGRAMME : Ordinary Diploma in Finance and Banking

YEAR OF STUDY : First Year

NAME OF THE ORGANIZATION : Tanzania Ports Authority

FIELD ATTACHMENT PERIOD : June 2013 – July 2013

SUPERVISER’S NAME : Mr. Jilenga, Moga T.

AUGUST 2013

ACKNOWLEDGEMENT

It is not possible to acknowledge by name all those who contributed to the completion of this

study in one way or another.

However, I would like to express my deepest and sincerest to all individuals who contributed

to the success of this work.

I wish to extend my sincere thanks to my supervisor Mr. Moga T. Jilenga, at the Institute of

Accountancy Arusha who tirelessly made valuable while supervising me throughout the

preparation of this field. Special thanks to my parents Mr. and Mrs. Ramadhani Kilala and

my family for help me in tuition fees and all matter concern about basic needs, thanks for

them.

Also special thanks to my lecturers at IAA for sharing their knowledge. I have indeed learned

a great deal during my study at IAA.

I’m also grateful to the entire staff of TPA specifically theIn charge ( Supervisor ) Supplies

Accounts section controller Mr. Augustine L. Nkwaba, another Senior Finance Officer Mrs.

Nyambusi P. Mabu and Boss supplies accounts section controller Mrs. Marry Mbita.

Costing section controller Mr. Tini Hassan Padasi, Budget section controller Mrs. Cresensia.

In addition special thanks go to all members of Finance Department Dar es Salaam for their

kindness, cooperation and assistance in one way or another in the collection of detail and

making me feel as part of the organization throughout my practical training at TPA.

Finally the greatest thanks to my fellow student who conducted their field report at the

Tanzania Ports Authority for their courage and company during the preparation of my field

attachment report.

ABSTRACT

The objective of practical training is to give an opportunity to the student to practices what

they have learned in classes during lectures and personal study. This report give out a general

over view of activities carried out and the knowledge acquired from the practical training in

Dar es Salaam Ports.

The first chapter of the report is introduction which includes background of the organization,

Objective of the field attachment report, the services provided by the Ports, duties and

responsibilities, the skills and knowledge and problem experienced in the organization.

In the second chapter there is an experience of the field, both theoretical and practically

which are taught in class. Most of things are related such as documents which are used in the

supplies accounts sections, cash and bank section and costing and budget section.

The last third chapter gives the conclusion and recommendation of the report in the field area

in relation to the tentative report form and guide in diploma level. The conclusion and

recommendation can help the organization to improve due to the point which I suggest in put

more emphasized on it to some extent can be allow developing through my field which I have

undertaken six weeks at the Dar es Salaam Ports.

TABLE OF CONTENTS

ACKNOWLEDGEMENT………………………………………………………..……..i

ABSTRACT……………………………………………………………………….…....ii

TABLE OF CONTENTS.………………………………………….………………......iii

LIST OF TABLES…………………………………………………………………..…iv LIST OF FIGURES…………………………………………………………………….v ABBREVIATIONS……………………………………………………………………vi

CHAPTER ONE………………………………………………………… ……………1

INTRODUCTION…………………………………………………………...…………1

1.0 TANZANIA PORT AUTHORITY (TPA)………………………............................1

1.1 DAR ES SALAAM PORT………………………………………………………...2

1.2 OBJECTIVE OF THE FIELD ATTACHMENT…………………………………..3

1.3 ORGANIZATIONAL STRUCTURE…………………………………………...…4

1.4 TYPE OF ORGANIZATION……………………………………………………....4

1.5 MAJOR PRODUCT / SERVICE…………………………………………………..5

1.6 ACTIVITIES……………………………………………………………………….5

1.7 NUMBER OF EMPLOYEES……………………………………………….......... 6 1.8 CUSTOMERS……………………………………………………………………..6

CHAPTER TWO…………………………………………………………………….....7

2.1 DUTIES AND RENSPONSIBILITIES……………………………………………7

2.2 NEW KNOWLEDGE AND SKILLS GAINED………………………………….17

2.3 THINGS ENJOYED MOST AND WHY………………………………………...17

2.4 THINGS ENJOYED LEAST ANDWHY………………………………………...17

2.5 PROBLEM EXPERIENCED AND HOW HANDLED………………………....18

CHAPTER THREE…………………………………………………………………...19

3.0 CONCLUSION AND RECOMMENDATIONS…………………………………19

REFERENCES……………………………………………………………………….21

APPENDIX 1: ASSESSMENT FORM…………………………………………………………….22 APPENDIX 2: CERTIFICATE OF COMPLETION………………………………………………23 APPENDIX 3: LOG BOOK……………………………………………………………………….24

LIST OF TABLES

Table 1: Cost of Import and Export of Commodities……………………………….……16

LIST OF FIGURES

Figure 1: Organizational Structure…………………………………………………………4

Figure 2: Percentage of Cost of Import and Export of Commodities…………………..…16

ABBREVIATIONS

EARHC - East Africa Railway and Harbours Corporation.

IAA - Institute of Accountancy Arusha.

KPA - Kenya Port Authority.

LPO - Local Purchase Order.

ODFB - Ordinary Diploma in Finance and Banking.

R / C - Recording Clark.

SADC - South Africa Development Community.

TICTS - Tanzania International Container Terminal Services.

THA - Tanzania Harbours Authority.

TPA - Tanzania Ports Authority.

CHAPTER ONE

INTRODUCTION

1.0 Tanzania Port Authority (TPA)

TPA is public organization which was established on 15th April 2005following the repeal of

THA Act No.12 of 1977 and enactment of TPA Act No. 17 of 2004. Before that is was THA

as established by the Act of Parliament in 1977 after the collapse of East African Railway and

Harbors Corporation (EARHC) and had its headquarters in Dar es salaam with branches in

Tanga and Mtwara in Tanzania and Mombasa in Kenya The main objectives of the EARHC

was to serve the East African States in export and import trade that was the time when the

EARHC was very efficient and Ports like Tanga and Mombasa were extended entailing that

activities were many and revenue collected at high.

After the collapse of the EARHC, THA assumed Dar es salaam as its headquarters with

centres in Mtwara and Tanga headed by port manager who were answerable to the Director

General in Dar es salaam the main objectives of THA was to serve Tanzania’s import and

export trade. Also ender other services such as ware housing, loading and offloading

documentation repairs to small boats in its dockyards and fore brigade.

Among customers of THA were countries of SADC like Zambia, Malawi, Burundi, Rwanda

and Democratic Republic of Congo, Uganda also uses THA for her import and export needs.

The major rivals of THA are Kenya Port Authority (KPA) Mozambique Ports such as Beira

and South Africa Ports.

TPA is responsible for managing the ports along the Indian Ocean Coast as well as the Inland

waterways ports on the lakes, like Victoria, Tanganyika and Nyasa.TPA establishment has

been grouped into operating units known as productive and service units. Operating units are

the accounts devise established to group one or more cost centers. The major operating units

for TPA are TPA Headquarters, Port of Dar es salaam, Port of Tanga, Port of Mtwara and

Lake Ports.

Productive operating units are those that in addition to incurring costs they generate their own

revenues, example the Ports. Service operating units are those that generate costs, example

the Headquarters.

Both productive and service units have cost centers where revenue and expenditure are

grouped and given names and codes. Under budget format these groups are referred as

Revenue Heads and Expenditure Abstracts.

1.1 DAR ES SALAAM PORT.

Dar es Salaam Port is Tanzania principal port with a rated capacity of 4.1 million (dwt ) dry

Cargo and 6.0 million ( dwt ) bulk liquid Cargo. The port has a total quay length of about

2,000 meters with elevation deep-water berths. Dar es Salaam port handled about 95% of the

Tanzania International trade. The port serves the landlocked countries of Malawi, Zambia,

Democratic Republic of Congo, Burundi, Rwanda and Uganda. The port is strategically

placed to serve as convenient freight linkage not only to and from East and Central Africa

countries but also to middle and Far East, Europe, Australia and America. The port is divided

into two parts ( TICTS and TPA ), in order to increase efficiency and encourage new

challenges to the local port operators the TPA has authorized TICTS privately owned by

Hong Kong investors to receive and clear cargo at the port.

Overview:

The Tanzania Ports Authority (TPA) presently owns Dar es Salaam, Tanga, Mtwara Ports

and all lake ports in Tanzania. Tanzania Ports Authority was established on 15th April 2005

following the repeal of THA Act No. 12/77 and enactment of TPA Act No. 17/2004.

TPA plays the following roles to the Tanzania government and local authorities:

To establish and coordinate system of Harbours.

To provide, facilities relating to Harbours and provide harbour services.

To act as a warehouseman to store goods, whether or not the goods have been

or are to be handled as cargo or carried by the Authority.

To construct, operate and maintain beacons and other navigational aids.

To carry on the business of stevedore, wharf age or lighter man.

To consign goods on behalf of the other persons to any place either within or

outside the United Republic.

With the approval of the Minister, to construct and operate new Harbours.

With the approval of Minister, to act as carriers of goods or passengers by land

or sea, and

To provide amenities or facilities that the Authority considers necessary or

desirable for persons making use of the facilities or services.

1.2 OBEJECTIVE OF THE FIELD ATTACHMENT

1.2.0 Definition of field attachment

In the context of the guidelines, field attachment is a field-based practical/industrial training

experience that prepares trainees for the tasks they are expected to perform on completion of

their training. Besides, Field Attachment means any approved field based practical work

carried out by students for the purpose of preparing trainees for the task they are expected to

perform in completion on their training.

1.2.1 Objectives of field attachmentThe specific objectives of the field attachment program are as follows:-

a) To enable students get hands-on/real life experience they are expected to work in

when they graduate.

b) To provide an opportunity for students to apply the principles and techniques theoretically

learnt into real-life problem solving situations.

c) To provide an opportunity for students and academic staffs to interact with the

stakeholders and potential employers and thus appreciate field situations that will also

generate information for curricula review and improvement.

d) To develop student understanding of work ethics, employment demands, responsibilities

and opportunities.

e) To enhance and strengthen linkages between Institute of Accountancy Arusha and various

stakeholders.

f) To enhance student’s skills, knowledge, work abilities, attitude towards his/her area of

specialization, develops habits of rigorous thinking and gets exposed to managerial

responsibilities

1.3 ORGANIZATIONAL STRACTURE

The Overall organizational structure of Dar es Salaam Port is as follows

1.3.1 MANAGEMENT OF DAR ES SALAAM PORT:

PORT MANAGER

1.4 THE TYPE OF ORGANIZATIONThe type of the organization is a Public Organization. Tanzania Ports Authority is a parastatal

public corporation acting under the aegis of the Ministry of Infrastructure Development, that

has the responsibility "to manage and operate" the seaports and lake ports of the country of

Tanzania (Parastatal) that offer service to the public in terms of export and import services.

PROCUREMENT

STORE KEEPER

PS SUPERVISOR

PURCHASE SUPPLIERS

SENIOR PRINCIPAL

PRINCIPAL

SENIOR

DISPENSARY

HARBOUR

MARINE

PRINCIPAL

OPERATIONSECURITY

SECURITY

P.E PRINCIPAL

H.RESOURCE

FINANCEENGINEERIN

1.5 MAJOR PRODUCT /SERVICE

The major services offered by TPA Dar es Salaam port is all about the export and import

services.

1.5.1 Major Exports

Dar es Salaam port also handles a number of key export products including coffee, sisal

(bales, ropes and twine ), beans and peas, other export products are tea, timber, Flooring

blocks, hides and skins, forest product (timber),cotton lint, cashew nuts, cement, tobacco,

copper and other commodities.

1.5.2 Major Imports

Dar es Salaam port handles a variety of imports, which include Chemicals, Machinery

parts, Motor vehicles, and Fertilizers. Other import handled are iron and steel, paper and

paper bags, textiles, Motor fuel, Bulk coal, Bulk wheat, Raw materials, Consumer goods

and food grains.

The ports also provide refrigerated container services, fresh water, ship handling, fire-fighting

services, and medical services.

1.6 ACTIVITIES

The activities performed by Dar es Salaam Ports are to provide services to the public

especially in export, import, Transport, provision of education.

1.6.1 The Major activities is Imports which include the Raw Materials, Machinery and

Parts, Bulk Wheat, Cotton Pieces and Fabrics, Fertilizers, Papers and Paper Bags, Bulk Coal,

Motor Vehicles and Industrial Chemicals.

1.6.2 The only Major activities is an Exports such of that export is Cement, Copper

Concentrate, Sisal (Bales, Ropes and Twine), Coffee, Beans and Peas.

1.6.3 Transport.

The activities of transport the Chemicals, machinery motor fuel oil vehicle materials

consumer goods and food and grains .Coffee, sisal twines, seeds beans, sisal fibre and

forest products.

Other things which facilitate port activities is equipped with share quay portal cranes,

forklifts, Tractors and trailers, working sheds, weight bridge for Road and Rail, Towing

Tugs, Pilot Boats, Slipway.

1.6.4 Provision of Education:

In TPA-Dar es Salaam Ports the provision of education is other activities that are

performed by the Ports which provide various levels of education and programmers. The

Special Courses has been taken under a certain period of time i.e.

9 months Diploma in Shipping and Port Management

3 months Certificate Course in Clearing & Forwarding

The two special courses have been developed to give professional skills to the shipping

community in Tanzania.

1.7 NUMBER OF EMPLOYEESThe number of employees at the Dar es Salaam Ports are categorize into two parts, Permanent

employees and Temporary employees. The number of employee at Dar es Salaam Port is all

about 930 permanent staff .The number of the temporary employees in Dar es Salaam Ports is

difficult to identify because can be change day to day or sometime can increase or decrease

due to the tasks to perform at the Ports, mostly known as dockworker popular known as

MAKULI in the Port. Each employee perform his duties according to the location or place

are located.

1.8 CUSTOMERCustomer is the one who is consume the product /service or end user, the customer is the one

who can be interrupt with market or at a particular organization for the purpose of facilitate

the business. In Dar es Salaam Ports we have number of customer approximate 936

Companies.

CHAPTER TWO

2.1 DUTIES AND RENSPONSIBILITIESThe duties and responsibilities conducted as the professional carrier in Finance in TPA in all

section at the Finance Department in Dar es Salaam Port. Those sections can be as follow;

2.1.1 CASH AND BANK SECTION:In Cash and Bank section we prepare Bank reconciliation as following.

To prepare Bank Reconciliation Statement

2.1.1.1 Cash Book

According to Grewal et al, (2007), Explain Cash book and Pass Book as following..

In business most of the transactions relate to receipt of cash, payments of cash, sale of

goods and purchase of goods. So it is convenient to have separate books for each such

class of transaction, one for receipt and payments of cash, one for purchase of goods

and one for sale of goods. These books are called subsidiary books.

Cash book is a subsidiary book which records the receipts sand payment of cash. With

the help of cash book cash and bank balance can be checked at my point of time.

2.1.1.2 Pass Book

Pass Book is a book issued by Bank to an account holder. It is almost a copy of

account of the customer in the books of bank. The bank keeps the customer informed

of the entries made in his account through Pass Book. It is the customer’s duty to

check the entries and immediately inform the bank of error that he may have noticed.

2.1.1.3Bank Reconciliation Statement

According to Grewal et al, (2007), Define and explain Bank Reconciliation Statement

as following...

My be defined as a statement showing the items of differences between the cash book

balance and the pass book balance, prepared on any day for reconciling the two

balances.

2.1.1.4 Need and Importance of Bank Reconciliation Statement

The need and importance of the bank reconciliation statement may be given as

follows:

1. The reconciliation process helps in bringing out the errors committed either in

Cash Book or Pass Book.

2. Bank reconciliation statement may also show any undue delay in the clearance

of cheques.

3. Sometimes the cashier may have the tendency of cheating like he may made entries

in the Cash Book only but never deposit the cash into bank. This types of frauds by

entrepreneur’s staff or bank staff may be detected only through bank reconciliation

statement. So this way bank reconciliation statement acts as a control technique too.

2.1.1.5 Procedure for preparation of Bank Reconciliation Statement

When a bank statement has been received, reconciliation of the two balances is

carried out in the following way:

Step 1 Tick off the items in both cash book and bank statement

The cashier ticks off the items that appear in both the cash book and the bank

statement.

Step 2 Update the cash book from the bank statement

The unticked items on the bank statement indicate items that have gone through the

bank account but have not yet been entered in cash book.

Step 3 Balance the cash book bank columns to produce an updated balance

The bank columns of the cash book are now balanced to find the revised figure.

Step 4 Identify the remaining unticked items from the cash book

There are some items that remain unticked in the cash book. The remaining unticked

items from the cash book will be the timing differences. These are the items which

will be required in the preparation of the bank reconciliation statement.

Step 5 Preparation of the bank reconciliation statement

The timing differences are used to prepare the bank reconciliation statement. The

stages followed to complete the statement are as follows:

1. Enter the cash book balance.

The balance figure to use, as ‘per the cash book’, is the revised cash book

balance after entering the items that appeared on the bank statement which

had not previously been entered.

2. Add Unpresentedcheques

Theunpresentedcheques are the cheques that company has issued, but

which have not yet been deducted from the firm’s bank account, probably

because they have not yet been paid in by suppliers.

3. Deduct outstanding bank lodgement

‘Bank lodgement’ represents money, i.e. cheques and or cash, that has

been received by a business, entered into the cash book and paid into the

bank. In this case, however, the deposit has been too late to appear on the

firm’s bank statement, and so forms part of the difference, as an

‘outstanding’ lodgement.

4. Completing the reconciliation

Now that all the outstanding items have been added or deducted, the

recalculated balance on the bank reconciliation statement should be same

as the final bank statement balance.

2.1.1.6 Theformula of the bank reconciliation statement

The formula of the bank reconciliation statement

USD/Tshs.

Balance as per cash book xx

Add: Un presented cheques xx

xx

Less: Outstanding lodgements xx

Equals balance as per bank statement xx

Also a bank reconciliation statement is prepared to reconcile the two balances of

Cash Book and Pass Book. So, when you will prepare bank reconciliation statement

you will start it with one balance make adjustments and then you will reach to the

other balance. This way both the balances will agree. The way adjustments should be

made may be illustrated as follows:

Particulars Amount

USD/Tshs

Balance at Bank as Per Cash Book Xxx

Add

(1) Cheques issued but not yet Xx

Presented for payment

(2) Interest allowed by the bank Xx

(3) Interest and dividend collected by Xx

the bank

(4) Direct payments into the bank by customer Xx

(5) Bills collected by the bank on Xx (+)xx

Behalf of the customer

Less:

(1) Cheques paid into the bank but not yet cleared Xx

(2) Interest and expenses charged by Xx

The bank

(3) Direct payment by the Bank Xx(4) Dishonors of a bill discounted with the bank Xx (-)xx

Balance as per Pass Book Xx

2.1.1.7 The duties and responsibilities which perform in cash and bank section are

following;

1. To compare transactions that appear on both cash book and bank statement and tick

off the items that appears in both the cash book and bank statement.

2. Update the cash book from the bank statement.

3. Balance the cash book columns to produce an update balance /to find the revise figure

4. Identify the remaining unticked items from the cash book.

5. Preparation of the bank reconciliation statement.

2.1.2 SUPPLIES ACCOUNTS SECTION:In this supplies accounts section we do the following

Auditing Voucher

2.1.2.1 Voucher According to Harold (Copyright© 2003), Define Voucher as follow…Written instrument that services to confirm or witness (vouch) for some fact such as

transaction, commonly, a voucher is a document that shows goods have bought or services

have been rendered, authorizes payment, and indicates the ledger account(s) in which these

transactions have to be recorded.

2.1.2.2 Auditing Voucher:

In this supplies accounts section we auditing voucher by prove the amount written in Issue

note, Invoice number, Local Purchase order, Local Purchase Accounts Statements,

Expenditure allocation and Payment allocation is the same or not.

2.1.2.3 How is a voucher used in accounts payable?

Furthermore, Harold, (Copyright © 2003), Explain the way voucher used in accounts payable

as follow…

A voucher is often a prenumbered form used in the accounts payable department to

standardize and enhance a company’s internal control over payments to its Vendors and

service providers.

A voucher is usually prepared after a Vendor’s invoice has been matched with company’s

purchase order and receiving report. In addition to attaching the three items to the voucher,

the following information is also entered on the voucher: Payee /Vendor name/ discount

terms, the amount and date to be paid, the general ledger account numbers to be charged, and

the authorizing signatures. The voucher is then recorded in the voucher register.

The unpaid vouchers provide the detail for the total amount reported as vouchers payable or

accounts payable.

As a voucher’s payment date comes near, the voucher is forwarded to an authorized person

for payment. After making payment, a copy of the check is attached and the voucher is

stamped ‘Paid’. It is then filed in the paid voucher file in order to prevent a duplicate

payment.

2.1.2.4 Payment Voucher

Furthermore, Harold, (Copyright ©2003), Explain Payment Voucher as follow

A document which can be used as proof that a monetary transaction has occurred between

two parties. In business, a payment voucher can be used for a variety of purposes, sometimes

taking the place of cash in a transaction, acting as a receipt, or indicating that an Invoice has

been approved for payment.

2.1.2.5 Difference between an Invoice and a Voucher

Furthermore, Harold, (Copyright © 2003), Explain difference between an Invoice and a

Voucher as following…

An Invoice from a Vendor is a bill that is received by the purchaser of goods or services from

an outside Supplier. The Vendor Invoice list the quantities of items, brief descriptions, prices,

total amount due, credit terms, where to remit payment, etc

A voucher is an internal document used in a Company’s accounts payable department in

order to collect and organize the necessary documentation and approvals before paying a

Vendor Invoice. The voucher as a cover pages to which the following will be attached:

Vendor Invoice, Company’s purchase order, Company’s receiving report, and other

information needed to process the Vendor Invoice for payment.

2.1.2.6 The duties and responsibilities which perform in supplies accounts section are

following;

1. Receiving of voucher from supplier and how are they kept. In TPA we receive

voucher from supplier and we record to Day book as store keeper am responsible

to keeping the record of the each voucher received.

2. Stamping of voucher according to their date.

3. To compare local Purchase order number and local Purchase Accounts Statement

of the same L.P.O number.

4. To audit voucher by prove the amount written in issue note, Invoice number,

local Purchase order, local Purchase Accounts Statements, Expenditure allocation

and Payment allocation is the same or not.

5. We entering the voucher in the system of Epicor by write the name of supplier,

voucher number of supplier and date, amount and invoice number.

6. To correct error’s in the voucher.

7. To audit overtime of port security.

2.1.3 COSTING AND BUDGET SECTION:

2.1.3.1 BUDGET

According to Jean, Explain budget as following….

Budget is a financial document used to project future income and expenses. The budgeting

process may be carried out by individuals or by companies to estimate whether the person

/Company can continue to operate with its projected income and expenses.

A budget can be drawn up for each financial year and contain information on the

estimatimated value of costs. The actual performance of the business can be measured against

this proposed plan.

A budget may be prepared simply using paper and pencil, or on Computer using a spread

sheet program like Excel, or with a financial application like Quicken or QuickBooks.

The process for prepare a monthly budget includes:

i. Listing of all sources of monthly income

ii. Listing of all required, fixed expenses, like rent / mortgage, utilities,

phone.

iii. Listing of other possible and variable expenses.

2.1.3.2 Why should I have a budget?

1. A budget is very important, especially for smaller companies. It allows a company to

establish the amount of credit that it can extend to customers without having

problems with liquidity.

2. A budget helps to avoid having a shortage of cash during periods of numerous

expenses. If you can not pay your expenses because you have a cash shortage, you

must resolve this problem right away by bringing in more revenue, deferring or

eliminating some of your costs or being approved for a large loan from your bank.

These, solutions are costly, time-consuming, and not guaranteed, So it’s therefore

best to plan for higher expenses a head of time.

3. Make management decisions regarding cash position.

4. Budgets will show how much cash is coming into company and the way it is being

used.

5. To evaluate and plan for capital needs.

6. The budget will help in assessing whether there are periods during operations cycle

when the company might need short –term borrowing.

7. It will also help in assessing any long –term borrowing needs.

8. Help to coordinate the activities in the organization.

2.1.3.3 Duties of Finance Officer

i. The finance officer pays salaries employees of all of Dar es Salaam Ports

except head quarter.

ii. Prepares and delivers statements and reports that summarize the company’s

financial activity to interested parties inside and outside the organization.

iii. Ensure that financially transactions are properly updated and recorded.

iv. Manage the preparation of balance sheets, income statements, expense

reports, etc

v. Ensure account receivables and payables activities are performed accurately

and timely.

vi. Identify and resolve invoicing issues, accounting discrepancies and other

financial related issues.

vii. Oversee the preparation of all financial statements, Invoices, proposals, etc as

required.

viii. Ensure data integrity in all financial reporting.

ix. Update financial records with recent transactions and changes.

x. Perform finance analysis, reporting and management tasks.

xi. Manage cash controls as well as maintain book keeping up-to-date.

xii. Calculate the amount of money written in voucher number and compare to

their account, if the account have a money will sign the voucher in order to

pay and if their account have enough fund will not sign the voucher.

xiii. Have a files know as Cumulative which used to record day to day

expenditure, Approval budget record all expenditure have incurred and Imp

rest which used to record all allowance of the employees.

2.1.3.4 COSTING

Is the system of computing cost of production or of running a business, by allocating

expenditure to various stages of production or to different operations of a firm.

2.1.3.5 Source of data.

In Tanzania Ports Authority there are two mainly source which include;

i. Container Terminal.

ii. General Cargo Terminal.

Container Terminal

Is a berth which contain container only. In section it loading and offloading of container to

and from the ship. During these activities continues the Clark C (R/C) collect and record data

and time of work.

General Cargo Terminal

Is the department which is receiving all goods except containers and vehicle with different

parts in case of export and import. All of these sources of data are collected by Recording

Clark (R / C).

In case of Cost accounting we need to know how much time are they doing these works. In

one day there are activities divided into three shifts per 24 hours. Each shift have got 8 hours

to do work means first shift start from 07 : 00 am up to 03 : 00 pm, second shift start from

03 : 00 pm up to 11 : 00 pm and the last shift start from 11: 00 pm up to 07 : 00 am. In TPA

there are very impossible people to do work perfectly 100% due to delay of some cases either

natural factor or artificial factor.

2.1.3.6 Delays

Is a period of time by which make (someone or something) is late, postponed or slow motion

of doing work due to natural factor or artificial factor.

Delay of time obtained by taking Gross hours (time) minus Net hours.

Or

Delay hours (time) = Gross hours - Net hours (Actual time of doing work).

Always one shift it must do work on eight hours, If they doing work for six hours so that we

need to find time of delay,

Data

Gross time = 8 hours

Net hours = 6 hours

Delay time =?

But

Delay time = Gross time – Net time

= 8 hours – 6 hours

= 2 hours

Hence Delay time = 2 hours.

The table below shows the cost in US Dollar of imports and exports of commodities of

January – December 2012 in Dar es Salaam Port.

Cargo Traffic Summary

Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 July-12 Aug-12Overall Imports 817,122 771,168 748,989

648,056 775,943 942,131 691,209 916,668

Overall exports 117,714 173,873 171,159

144,725 138,750 166,128 130,377 180,555

Grand Total 934,836 945,041 920,148

792,781 914,693 1,108,259 821,586 1,097,223

Sep-12 Nov-12 Dec-12 2 0 1 2Overall Imports 886,152 871,606 971,953 9,976,010Overall exports 188,612 198,152 185,881 1,987,428

Grand Total 1,074,7641,069,75

8 1,157,834 11,963,438

Table 1.

Dar es Salaam Port import more commodities than export, and use high cost of import the

commodities than export. In figure below show the percentage of cost of import and export

commodities of January - December 2012.

Cost of imports commodities

83%

Cost of exports commod-ities17%

Cost of Imports and exports of commodities

Figure 2. 2.1.3.7 The duties and responsibilities which perform in costing and budget section

are following;

To calculate delay time.

To calculate cost of labour.

2.2 THE NEW KNOWLEDGE AND SKILLS GAINED:

The new knowledge and skills which are gain in the field is to understand how the worker

participate in Supplies accounts section, Cash and bank section, Costing and budget section

as when tough in the class theoretical but have doing practical or physically in TPA and have

gain an experience from the worker in the organization after few day when I arrive in the

organization and I learn through worker in daily activities.

2.3 THINGS ENJOYED MOST AND WHY

The things mostly enjoyed in Dar es Salaam Port is all about Teamwork because can

emphasize me to learn my field very well and the work are running smooth in organization

and can show good flow of work in each section at the Finance Department Dar es Salaam.

Then enjoyed in supplies accounts section, cash and bank section, costing and budget section

which found at TPA Dar es Salaam Ports which is very interested to me to read because when

we compare in theoretically taught in the class, and practice physically in the organization

give a lot of information on how they are prepared documents. I well enjoyed in field because

most of the things which I learn in the class I got in an organization and practice physically.

2.4 THINGS ENJOYED LEAST AND WHY

The things which are enjoyed least in the organization in Dar es Salaam Port are following;

Communication among the workers not officially, it’s difficult to understand for a

new person enter to the organization for a certain period of time for any purpose

In Supplies Accounts section and cash and bank section have a few computer,

calculator for performs the duties and the tasks are performing manually because this

can lean to facilitate the work to be performed slowly.

Scarcity of the time in field period, due to this I didn’t enjoyed well because time is

not enough to learn everything in the organization. Due to the time allocated by

institute.

2.5 PROBLEM EXPERIENCED AND HOW HANDLED

2.5.1 Problem experienced at Dar es Salaam Port

In most cases the problems which are experienced in Dar es Salaam Ports are;

There are few equipment like computer, photocopy machine, calculator, printer

for make the performing the duties for example Cash and bank section have a few

equipment .the solution of these problem as public organization make sure that all

section within the Ports must have the machine for perform the tasks they should

buying as many as their can even for extra one.

Data confidentiality, this is a problem which I experience most of the data are so

difficult to obtain. The solution of this problem is to create friendship, it was

through friendship that some information’s could be extracted easily and in a

direct and more accurate way that by any means facilitated the accomplishment

of this paper work.

Communication not officially, it’s difficult to understand for a new person enter

to the organization like a student take a field for that time I would be in hard

situation to understand them well due to that situation. The only solution of this

problem is to avoid the language which is difficult to other side to understand

them must use the official communication.

Limited time, the time available for carrying out field practical training was not

enough, this lead to conduct the project in a constrains of time provided. As a

result some of relevant information’s were not actually generated under the study.

Being Obedient, The solution of the problem, This was just to create and showing

trust to staff members as the mechanisms to provide a chance and opportunity to

access information’s which were previously seems to be confidential.

CHAPTER THREE

3.0 CONCLUSION AND RECOMMENDATIONS

3.1 Conclusion

The conclusion of field attachment can have three parts to make the conclusions which

include the major strength and weakness of the field attachment program and the benefits

derived from field attachment program so as to make an improvement of the department of

Finance at the Dar es Salaam Ports and to all TPA in general.

The major strength of the field attachment is-

To develop student understanding of work ethics, employment demands,

responsibilities and opportunities.

To enhance student’s skills, knowledge, work abilities, attitude towards

his/her area of specialization, develops habits of rigorous thinking and gets

exposed to managerial responsibilities.

To enhance and strengthen linkages between Institute of Accountancy

Arusha and various stakeholders.

The weakness of the field attachment program it was; short time of conducting field

compared to the task found to the organization which caused me not finish my intended

goals.

Another weakness of doing field attachment program is confidentiality of information within

the organization; when I was doing my field some information were not given because they

said it is confidential for only the employee who are working to the organization so they

couldn’t give to field students.

The last part in this conclusion it was about the benefit derived from the organization which

the field attachment was undertaken-

Gain an experience of the work through practice daily to daily perform the

tasks which has been assigned by the on –site supervisor in each section in

Finance.

Have gain the new knowledge and skills for attempt the job independently

after train in the organization I have benefit for it.

Sharing of ideas between student and workers/employee in various matters.

Have improve the confidence in problem solving.

By conclude to all those matter the organization put more emphasize on his policy and

strategies in order to rich they objectives in the developing country.

3.2 Recommendation

Generally, the objective, function and operations of a port depends on its policy and

strategy and on the economic and technical developments that exist in country usually

most of organization can archive through their policy and the control of the management

to his employee. It’s the time or for least developed countries like Tanzania to ensure

sustainable utilization of resources in maintaining mass production and encourages

innovations and creativity that will improve technological advancement in production

process that ultimately improves employments prospects in the country. Not only that but

also in the ports must put more effort in emphasize the client to use the port in order to

increase the economic of the country and wealth even thought those who are give the

power to lead the Authority must be follow the regulation of the of organization strategy

fail to do so the he/she will be responsible for it. Take an example of the ministry of this

organization Dr. Mwakyembe he fired the leader who have a top position like Port

Master, at Dar es Salaam port few days ago.

REFERENCES

Grewal, T. S, (2007) ‘‘Double Entry Book keeping’’. Sultan Chand and Sons 28 Daryagry,

New Delhi.

Jain P. and Narangi S.(2004), ‘’Financial Accounting’’ Kalyani Publishers, New Delhi.

Massawe, A. (2012). Tanzania Port Authority – Dar es Salaam Port. Available at: en.

Wikipedia. Org /wiki /Tanzania Port… (Accessed: 15 July 2013, 22:30 pm).

Averkamp, H., (2003). ‘Accounting Coach.Com’’, New Delhi: Kalyani Publishers.

Massawe, A., (2012). Dar es Salaam Port – Tanzania Ports Authority. Available at:

www.tanzania ports. Com.; (Accessed: 20 July 2013, 23: 00 pm).