INTERNSHIP REPORT OF PRACTICAL ATTACHMENT ON FINANCE

MANAGEMENT DEPARTMENT AT SODDO CATHOLIC CHURCH

COLLEGE OF BUSINESS AND ECONOMICS

DEPARTMENT OF ACCOUNTING AND FINANCE

A REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE

SUBJECT INTERNSHIP AND BACHELOR OF ART DEGREE IN ACCOUNTING AND
FINANACE

PREPARED BY: KALKIDAN BELETE SAGAYE

ID.No RU 2548/12

April 2024

WOLIATA SODO

ETHIOPI

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Contents
ACKNOWLEDGEMENTS........................................................................................................................III

EXECUTIVE SUMMARY.........................................................................................................................V

1. Introduction of the Report......................................................................................................................1

1.1 Background of the organization.........................................................................................................1

1.2 Purpose..............................................................................................................................................2

1.3 Scope of the study.............................................................................................................................2

1.4 Methods of data collection................................................................................................................2

1.4.1 primary data...............................................................................................................................2

1.4.2 Secondary data...........................................................................................................................3

2. Overview of the organization..................................................................................................................4

2.1. Introduction to Catholic Apostolic Church........................................................................................4

2.2 Vision.................................................................................................................................................4

2.3 Mission..............................................................................................................................................4

2.4 Values................................................................................................................................................4

2.5 Hierarchy and Organogram...............................................................................................................5

2.6 Structure of sodo catholic church......................................................................................................5

2.6.1 Functions of executive director..................................................................................................5

2.6.2 Functions of officer.....................................................................................................................6

2.6.3 Work Section Assigned and Activity Done..................................................................................6

2.7 Payroll Preparation and Registration.................................................................................................7

2.8 Major Activities involved in Payroll Preparation................................................................................7

2.9 Components of payroll register.........................................................................................................7

3. INTERNSHIP EVALUATION........................................................................................................................9

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 3.1 OVERVIEW ABOUT GETTING IN TO THE ORGANIZATION...................................................................9

3.2 Key Learning’s..................................................................................................................................10

3.3 Major Problems that I faced during my practical attachment.........................................................11

3.4 Suggested solutions or way of forward for the above problems.....................................................11

3.5 Link between my Internship concept and management..................................................................11

3.6 Responsibility of the Department....................................................................................................12

4. REPORT ANALYSIS..................................................................................................................................13

4.1 Company Swat Analysis...................................................................................................................13

5. CONCLUSION AND RECOMMENDATION................................................................................................14

5.1 Conclusion.......................................................................................................................................14

5.2 Recommendation............................................................................................................................14

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ACKNOWLEDGEMENTS

First of all thank to God for giving me the courage to start and finalize this project. Second we
are also thankful for lectures and employees of Apostolic Vicariate for their relentless. Especially
to finance manager of the organization (Tekle Dangarso) for their unreserved support to provide
data for the study unless and otherwise it would not have completed successfully.
Last but not the least; we would like to thank our advisor unreserved advice for the completion
of this paper.

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APPROVED BY;

Name Signature Date

____________________ ________________ _______________

(Advisor)

_____________________ _________________ ________________

(Department Head)

____________________ _________________ _________________

Examinor

____________________ __________________ _________________

Chairperson

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EXECUTIVE SUMMARY
Doing internship always gives best chance to student to apply their knowledge on practical field.
Accounting and finance department have wide range of activities in the economy of a country.
Accounting and finance is the most important one in the economic sector as they play crucial
role for the economy. This report is about finance management that I have undergone at social
development commission coordinating office (SDCO/S) in Wolaita Sodo for 10 days.

In this practical attachment report the social development commission coordinating office
background, vision, mission and core values are included. It also includes objectives of
internship, scope of the exploration and significant of my Internship program. I used two types of
data collection methods to prepare this practical attachment report. First I used primary data
sources, such as interview and observation methods. I also used secondary data sources from
organization documents to prepare our practical attachment report.

SWOT analysis is a business planning tool that is used to determine strengths, weaknesses,
opportunities, and threats. The first two concepts describe internal factors, while the latter two
focus on external forces. Opportunities and threats are external factors that are beyond a college
control

I have also presents clearly all activities which I have learned and observed by during internship
program in social development commission coordinating office. During my internship stay at
social development commission coordinating office I am doing various jobs under different
position such as financial analysis.

Lastly, I concluded (summarized) my results and findings and recommend the organization
based on information obtained (observed) during internship period in social development
commission coordinating office at finance manager and executive director.

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1. Introduction of the Report
1.1 Background of the organization
Literature reveals that the word Catholic is derived from the Greek term, katholikos, meaning
"universal," and from the adverbial phrase, kath' holou, meaning "on the whole" (WillieF, 2001;
Richard Mcbrien, 1994). St. Ignatius of Antioch first used the term in his letter to the
Smyrnæans, people lived in a port city on the Agean coast of western Asia Minor on the site of
the present-day Turkish city of Izmir.The Catholic Church found in all over the world is run
under the Roman Catholic Church (Estlin, 2005; Richard Mcbrien, 1994). The Roman
Catholicism tends to be more legalistic in the structures of church life and in its approach to the
sacraments. The church organized itself according to the claims of apostolicity, especially the
claims of Apostle Peter that was the great of religious authority (Mary W, 1989). Roman
Catholic Church comprises those particular Churches, headed by bishops, in communion with
the Pope, the Bishop of Rome, as its highest authority in matters of faith, morality and Church
governance (Ron Rhodes, 1984; Mark Menzies, 2015). The Catholic missionaries had tried to
introduce their version of Christianity into Ethiopia some hundred years ago. The beginning of
the early Catholic missionary activity or the First Jesuit Mission activity in Ethiopia is related to
the Portuguese Catholic force that came to Ethiopia in the 16th century. This force came to help
the highland Christian state of Ethiopia under the command ship of Christopher da Gama; son of
the great explorer Vasco da Gama, against the Muslim invading army of Ahmed Ibn
IbrahimAlgahazi or commonly called Ahmed Gragn (World Vision-East Africa,2013). Although
such efforts remained unsuccessful, the Catholic missionaries continued their attempt to
introduce their faith into Ethiopia. In 1603, Rome sent Petro Paez to Ethiopia for the same
purpose. He was a man of farsightedness and ability. He did not waste his time by involving in
debates; instead, he opened school and offered vocational and theological trainings to children.
Emperor ZaDengel attracted by the works of Paez and captivated to convert to Catholicism.
However, his interest brought riot and he was assassinated (AbbaAntonios Alberto, 1998). In the
time of Suseneyos (1607-32), ZaDengel’ssuccessor, Paez continued his work. Suseneyos and his
brother Ras Seal Chrestos were captivated and converted to Catholicism (Abba Antonios
Alberto, 1998). However, popular insurrection erupted throughout the country and began bitter
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civil war to preserve the Catholic faith. Nevertheless, because of the death of many
people,Suseneyos issued an edict in 1632 granting freedom to return to the traditional
nonCaledonian or Orthodox faith. His son and successor Emperor Fasilades (1632-67) evacuated
the Catholic missionaries from Ethiopia (World Vision-East Africa, 2013).
The Apostolic Vicariate of Sodo is one of the 13 canonical jurisdictions (two Dioceses, two
Eparchies, eight Vicariates and one Apostolic Prefectureare found in Ethiopian Catholic Church)
of the Ethiopian Catholic Church. The seat of the Vicariate of Sodo is also the capital of Wolaita
zone. The zone is located in the southwest central part of Ethiopia. Wolaita is organized in the
Southern Ethiopia Regional State. The zone presently comprises some twenty woredas and is
located 380 kilometers south of Addis Ababa (Wondimu nShuba, 2011:1; Abesha Shirko,
2011:4).Today in the Apostolic Vicariate of Sodo Catholic Church there are three zones, two
special woredas, twenty-eight prefectures and fourteen regular catechisms. The Catholic faith is
detailed in the catechism of the Church (Rodrigo M, 2008).

1.2 Purpose
The principal objective of this study is to reconstruct the history of the introduction and
expansion of the Wolaita Catholic Church and its socio-economic works

1.3 Scope of the study

The study is an overview, concentrated on the history of the beginning and expansion of the
Wolaita Catholic Church, and briefly assesses the major development works of the Church while
expanding in Wolaita zone. The work is limited to major process of establishment, expansion
and main socio-economic works of the Church since its establishment to the present time.

1.4 Methods of data collection

1.4.1 primary data
Interviews: I conducted interviews with HR professionals within the department to gain insights
into their roles, responsibilities, and experiences. These interviews provided first-hand
information about the Accounting and finance practices and processes followed at Catholic
Apostolic Church.

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Surveys: I designed and administered surveys to collect feedback from employees regarding
their satisfaction with Accounting and finance processes, such as preparing balance sheet, on
boarding, and employee development. The survey responses helped me understand the
effectiveness of Accounting and finance practices from the employees' perspective.
Observation: I actively observed and participated in various Finance management activities,
such as allocation of budget, preparing balance sheet and composition employee training
sessions, and performance management discussions. This allowed me to gather real-time
data and understand the practical implementation of Finance management practices.

1.4.2 Secondary data

Internal Documents: I reviewed internal documents provided by the HR department, including
management policies, employee handbooks, and training materials. These documents
provided valuable insights into the established management practices and procedures at
Apostolic vicariate of sodo
Industry Reports: I consulted industry reports and publications related to financial practices in
the education sector. These reports provided a broader understanding of industry trends,
challenges, and innovative approaches to financial management.
By combining primary data obtained through interviews, surveys, and observation, along with
secondary data from internal documents, academic literature, and industry reports, I aimed to
ensure a comprehensive and well-rounded analysis of financial practices at Apostolic
vicariate of sodo

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2. Overview of the organization
2.1. Introduction to Catholic Apostolic Church
Since the establishment, the Catholic Church has involved in various developmental activities
mainly in terms of education, agriculture and health. The Church carried out the developmental
activities side by side with the spiritual services. Yet, in 1982 independent development
coordination office known as the Ethiopian Catholic Church Social and Development
Commission Coordinating Office of Sodo (SCO) was established which became responsible to
coordinate the developmental works of the Church in WolaitaDiocean\Hageresbket. The
Coordination Office has currently about six departments that focus in various aspects or
specializations that are related in community development. These are Education and Training,

2.2 Vision
To realize the society where the spiritual, physical, socioeconomic and cultural needs of the
people are met and where peoples are in harmony solidarity, equality, love, justice and peace.

2.3 Mission
 Working for resilient, inclusive and integrated development of society.
 Implementing social impact programming strategies and activities.

2.4 Values
 Dignity of the human being

 Preferential option for the poor

 Solidarity
 Stewardship
 Subsidiary
 Accountability and transparency
 impartiality
 selflessness
 collaboration
 quality of service

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2.5 Hierarchy and Organogram
1. Executive director: The top executive who oversees the Apostolic vicariate of sodo
operations, implements the board's decisions, and leads the institution towards its goals.

2. Finance manager: These individuals are responsible for financial planning and how to
implement the plans regarding with funds.
3. Area coordinator: A person who coordinates the area to be included in the working plans and
follows up the sites.
4. Officers: They are facilitators through ongoing process.
5. Senior accountant: They oversees the organization accounting department and take
ownership for every aspect that goes into producing an organizations report from cost
productivity margins all the way down to expenditures.
6. Accountant: Conducts tasks including account analysis audits band financial statement
analysis.
7. Cashier: Pay money or receive from banks.
8. Animator Community develop workers.

2.6 Structure of sodo catholic church

Executive director

Finance manager Officers Area coordinator

2.6.1 Functions of executive director

The office general manager of Finance management, the head office of Marketing management
and budget directorate sector of office provisional administration office can perform the
following activities;

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Controlling the activities of all departments.

Guiding the office by the leading.

Preparing the working program and plans of the office.

Supervising the implementation of all work plans and program. .

Initiating increase the working capacity of the employees.

Motivating the employees of all departments that are found under his control.

2.6.2 Functions of officer.

Managing employee and employer relationship.

Manage and address all staff personal issues following the financial manual guidelines.

Provide the necessary materials and Finance management to office staff for their day to day
activities.

Monitor and follow-up on the performance of all staff.

Maintain good working relationships in the work place.

2.6.3 Work Section Assigned and Activity Done

 In my professional practice in sodo catholic church management Office of and Budget
and Payment Department. In this Department I worked with those persons handling
different activities in the department, so more or less I have done all activities in the
department from those activities the following are major activities that I handled

Payroll preparation and registration.

Recording payment voucher.
Recording journal voucher.
Employee’s budget.
Other technical support.

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2.7 Payroll Preparation and Registration
Payroll refers to the process followed to employees for their work. It is total amount paid to
employees of government as compensation for the service given to government or firms in a
given period of time. Payroll preparation has its own rules and regulation.

Before and during paying the payroll, Public Payment Department of Finance management and
Budget Directorate Office undertake different activities to pay an employee’s payment fairly.
Major activities before and during Payroll preparation and payment are the following;

2.8 Major Activities involved in Payroll Preparation

During paying the payroll payment, the following activities were followed by the Public Finance
management and Payment Department of the management office.

 Gathering the necessary data.

 Entering the names of employees.
 Totaling and proving the payroll register.
 The accuracy and authenticity of the information.
 Approval of payroll by authorized personnel.
 Payment of payroll either in cash or by writing check.
 The payment of the payroll and income taxes.
 The payment of withholding tax.
 The basic guideline of preparing payroll is attendance
sheet.

2.9 Components of payroll register

1) Employee number

It is the numbers that are assigned to employees for identification purpose.

2) Name of employees

It is the list of names of employees that are included in the payroll registration.

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3) Money earned by an employee

It may include the following components;-

A) The Basic Salary: - monthly salary of an employee that is paid for carrying out the normal
work of employment.

B) Allowance:-money paid monthly to an employee for special reason. Like

 Desert allowance
 Hardship allowance
 Medical allowance
 Transportation allowance
 Position Allowance
4) Deductions

These are subtraction made from the earnings of employees. Like

 Employee income tax

 Pension contribution
 Cost sharing and other

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3. INTERNSHIP EVALUATION
3.1 OVERVIEW ABOUT GETTING IN TO THE ORGANIZATION
To work my internship in finance management was my first choice. So as it was my choice I
have gone to it which exist in sodo catholic church. They accept me without any objection. I
have start on April 16 and I have finished on April 26. I have done my practical attachment in
finance management department which is one of the departments which established at the time
when the office exist. This department was one of the most important and main for that
Organization and a lot of activities were exercised in this section, also major services which were
given in by that Organization was done in this section. The finance management department has
its own objectives, responsibilities and activities to be done by the department. The department
has been also facing various kinds of problem and there are also some suggested solutions or
measures to be done in order to avoid or mitigate the problems.

Detail Description of assignment I was handle during Professional Practices

Internship Activities and Projects

During my internship, I was involved in a range of activities and projects that contributed to my
learning and professional development. Some of the key tasks I performed include:

a) Financial Analysis: I assisted the finance management team in conducting financial analysis
of client portfolios, evaluating investment opportunities, and assessing the financial health of
potential clients. This involved analyzing financial statements, conducting ratio analysis, and
preparing reports summarizing the findings.

b) Budgeting and Forecasting: I participated in the annual budgeting process, helping to gather
and analyze financial data, create budget models, and prepare budget variance reports. I also
contributed to the forecasting process by updating financial projections based on market trends
and performance indicators.

c) Investment Research: I conducted research on various investment opportunities, including

stocks, bonds, and mutual funds. I learned how to gather and analyze relevant information, assess
risk and return profiles, and present investment recommendations to senior analysts.
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d) Financial Software and Tools: I received training on industry-standard financial software
and tools, such as Excel, Bloomberg Terminal, and financial modeling software. I applied these
tools in various tasks, including data analysis, financial modeling, and portfolio management.

e) Team Collaboration: I actively participated in team meetings, discussions, and presentations.

I collaborated with colleagues on projects, shared ideas, and contributed to the overall success of
the team.

3.2 Key Learning’s

Through my internship experience, I gained several key learning’s in the field of finance
management, including:

a) Practical Application of financing Concepts: I developed a deeper understanding of

financing concepts and their real-world application. I learned how financial statements, ratios,
and valuation techniques are used to make informed business decisions.

b) Communication and Presentation Skills: I improved my communication and presentation

skills through regular interactions with team members and the delivery of presentations. I learned
how to effectively communicate complex financial information to different stakeholders.

c) Time Management and Prioritization: Working in a fast-paced environment taught me the

importance of managing time and prioritizing tasks. I learned how to meet deadlines and handle
multiple projects simultaneously.

d) Teamwork and Collaboration: Collaborating with colleagues from diverse backgrounds

enhanced my teamwork and collaboration skills. I learned the value of sharing knowledge and
working together towards common goals.

Overall, my internship experience was enriching and rewarding, and I look forward to applying
the knowledge and skills I gained in my future endeavors in the field of finance management.

3.3 Major Problems that I faced during my practical attachment

√ Being freshness for real working environment

√ The working system was complicated for me

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√ There was no smooth relationship with employees

3.4 Suggested solutions or way of forward for the above problems

√ Asking workers and supervisors for any unclear idea

√ I do my activity effectively

3.5 Link between my Internship concept and management

In my internship I have learn so many things. In that sense it has direct relation with that I learnt
in economics, management, accounting, managerial information system, leadership, human
resource management and also computer application.

Some of the theories that I have practically observed in the Organization are:

Introduction to management says that one Organization should have vision, missions, values and
objectives. I am tried to know this issues. The Organization has these all things. As I have listed
in chapter one of this attachment, the vision, mission, values, and objectives of the Organization
are stated and posted in front of the Organization.

The theories of leadership course, human resource management is used to know how to stimulate
workers, how to leaders members and so on. In my internship duration I have gained things that
help me to improving my leadership skills.

There are three skills when we say leadership skills. These are technical skill, human skill and
conceptual skills. It has no any doubt to gain technical skill when you work a given task in
office. Because most of tasks have their own process or technique. I have also gain human skill
which is one of leadership skills. I have worked with other cooperatively and also with customer
to build team work. In working my internship I have gained conceptual skill. Working summer
practice helps to increase the ability to coordinate organizational activities.

I was alone when working as an interment other students like me where there to complete their
assignment too. So to get better result we worked together as a team. Consequently it has helped
me to improving my team playing skill11

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3.6 Responsibility of the Department

Finance management and executive director is responsible for financial operation and
administrative operation of the college. Financing management and executive director
responsible for staff recruitment and training and record keeping, composition and benefits, and
employees relation and assures the safety of the organization employee.

Finance management and executive director is also responsible for management of cash flow and
ensuring there are sufficient funds available to meet a day to day payment. Manage payment to
employee of the organization as well as to the external parties involved in the contractual
agreement.

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4. REPORT ANALYSIS
4.1 Company Swat Analysis
Strength: The business has the advantage of being an easily accessible and highly visible
situation.

 The company is easily administrative for Harmony Grand Collage because it's

 Establishment by academician.

Weakness: Starting by investing minimum working capital requirement will be the big Limitation to
the college to recover from future loss if happen.

Opportunity: The business has opportunity to boost the economy of both the Wolaita zone and the
community of Wolaita Sodo city administration. The business also has the ability to expand in the near
future and employee local resident in large scale. Opportunity is the chance that the organization will gain
as well as the benefit that the organization will get.

Some of the opportunity mentioned below:

 Employees are working diligently to fulfill the interest of societies in a proper way

Increasing accessibility of social service

 Strong team work system Equality of gender

 The existence of good weather condition

 Create suitable condition to use experienced professional The policy and strategy set by
the government may provide the closer society Because of suitable political situation and
sustained peace in the town may create 13

Threats: loss of cashes in banks to pay for different services and Regional political unrest and
dispute may have impact on serving the community directly or indirectly such obstacle influences on the
performance of financial management of he organization.

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5. CONCLUSION AND RECOMMENDATION
5.1 Conclusion
My internship experience at sodo catholic finance management department provided me with
valuable insights into the field of financing management and enhanced my understanding of
financial analysis, investment strategies, and financial modeling. I had the opportunity to work
on meaningful projects and develop essential skills that will benefit my future career in financing
management. I am grateful for the guidance and support I received from the financing
management team throughout my internship.

I would like to express my sincere appreciation to sodo catholic finance management department
for providing me with this valuable opportunity. I am confident that the knowledge and skills I
acquired during this internship will contribute significantly to my professional growth in the
financing. I would also like to thank my university and internship coordinator for their guidance
and support throughout the internship process.

Overall, my internship experience was enriching and rewarding, and I look forward to applying
the knowledge and skills I gained in my future endeavors in the field of financing management.

5.2 Recommendation

As I tried to express the strength and weakness of sodo catholic finance management department.

If where this office has done all its best to convert its weakness , this office will be attractive and
convenience for worker and at the same time it assure the fair distribution of budgets for its
peoples this lead him to create goodwill and positive feedback.

As a member of this department I have recommended some points for the weakness and
sustaining the existing strengths

Some of the office working areas needed improvement in the office is mentioned as follows:

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  Fulfill office equipment and maintaining the existing one

 Create good relationship with managers and employees

 Avoid management and human resource problem

 Develop punctuality and efficient working habit

Hiring qualified employees and giving training for the existing employees of the organization
Develop tolerance habit among employees
 Document necessary information of organizational values and objectives in written 15

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