FORM NO.

3 31-08-2025

LOG BOOK

Student Name: HAPPYNESS S ANTHONY

Registration Number: Baf-01-0013-2023

Programme: Bachelor Of Accountancy And Finance

Name of the Organization: LAKI ASSOCIATES

Department: ACCOUNTING AND AUDITING

On-site Supervisor's Name: FADHILI MCHARO -

DATE BRIEF DESCRIPTION OF DUTIES PERFORMED

21 Jul, I assisted in submitting the monthly Tanzania Revenue Authority (TRA) tax return
2025 through the online system. After successful submission, I printed the receipt and filed it
for record-keeping. I also organized existing TRA documents by date and type of tax,
which helped me understand the importance of proper documentation for financial
compliance

22 Jul, I recorded purchase and sales invoices, ensuring they matched with purchase orders and
2025 delivery notes. After recording, I entered the information into the accounting software and
updated the sales ledger. This activity showed me the importance of accurate bookkeeping
and internal control in accounting. It also helped me understand how invoices link
operations with financial reporting. I saw the role of ledgers in keeping accurate records
for decision-making. This exercise strengthened my data entry and analysis skills in
accounting.
DATE BRIEF DESCRIPTION OF DUTIES PERFORMED

23 Jul, I performed a bank reconciliation by comparing the company’s bank statement with the
2025 internal cash book records. During the process, I discovered discrepancies such as
outstanding checks and deposits in transit. I worked on reconciling these differences to
balance the records. This exercise gave me exposure to one of the most important internal
control measures in accounting. I realized how reconciliation helps detect errors, fraud, or
omissions in cash records. It also improved my ability to analyze and compare financial
information systematically.

24 Jul, On Thursday, I managed two crucial areas. Firstly, I focused on maintaining general
2025 ledger integrity by posting transactions from various source documents, such as petty cash
vouchers, receipts, and payment records. I accurately classified and entered these into the
appropriate ledger accounts (e.g., transport, salaries, utilities, office expenses),
consistently applying the principles of the double-entry system to ensure debits equal
credits. Later, I was actively involved in payroll administration. I assisted the supervisor
in reviewing staff attendance records and basic salary lists. My responsibilities included
calculating statutory deductions like PAYE, NSSF, and SDL, and verifying the accuracy
of net pay amounts. I also participated in the review of pay slips prior to their finalization
and distribution, emphasizing the importance of both precision and confidentiality in this
sensitive area. This experience deepened my understanding of how accurate general
ledger postings directly impact the reliability of financial statements. My involvement in
payroll also highlighted the critical importance of meticulous calculation and strict
confidentiality in managing employee compensation and statutory remittances.

25 Jul, On Friday, a key task was to prepare the trial balance, a critical step in ensuring the
2025 integrity of our financial records. I systematically collected the closing balances from all
general ledger accounts and meticulously entered them into the trial balance format,
ensuring proper segregation of debit and credit balances. The initial crucial check was to
confirm that the total debits equaled total credits. When the trial balance initially did not
balance, I collaborated with the senior accountant to trace and correct the underlying
errors. This involved identifying mispostings, transposed figures, and unposted
transactions. Through this investigative process, we successfully made the necessary
adjustments, resulting in a correctly balanced trial balance. This exercise underscored the
trial balance's pivotal role as an internal control mechanism that validates the
mathematical accuracy of the general ledger before financial statements are prepared. It
provided practical experience in error identification and correction, reinforcing how
meticulous attention to detail in ledger entries is essential for accurate overall financial
reporting.
DATE BRIEF DESCRIPTION OF DUTIES PERFORMED

28 Jul, On Monday, we filed the monthly tax return to the Tanzania Revenue Authority (TRA). I
2025 logged into the TRA portal and submitted the return online. After filing, we checked the
customer assessment on the TRA system to confirm if the company had any liabilities,
penalties, or interest. I learned that filing a tax return is not complete until the customer
assessment is checked because it shows whether the company has any tax obligations or
penalties to settle.

29 Jul, On Tuesday, we continued filing the return to TRA. After submission, I checked the
2025 customer assessment to ensure that no penalties, interest, or liabilities appeared. I also
helped to confirm that all filed returns were recorded for future reference. I understood
that timely filing and checking assessments helps the company avoid fines and penalties
and keeps the company tax compliant.

30 Jul, On Wednesday, we finalized the return filing process. I reviewed the customer assessment
2025 again to make sure no new liabilities or interest appeared on the account. I also learned
how to trace previous assessments to confirm the company’s compliance history. I learned
that verifying the assessment after every return is important to identify any pending
amounts early and maintain good tax compliance.

31 Jul, On Thursday, I assisted in filing the Value Added Tax (VAT) and Skills and
2025 Development Levy (SDL) returns to the Tanzania Revenue Authority (TRA). First, I
checked all the VAT figures from the sales and purchase records to confirm that the
output VAT and input VAT were correct. For SDL, I verified the payroll records to
ensure that the correct 4.5% of gross salaries was calculated. After confirming the figures,
I logged into the TRA online portal and uploaded the VAT and SDL returns. Once the
submission was complete, I printed the acknowledgment receipts. I then checked the
customer assessment on the TRA system to verify whether the company had any
liabilities, penalties, or interest for these returns. Finally, I filed all the receipts and
supporting documents in the VAT and SDL files, arranging them by date for easy
reference. I learned the process of VAT and SDL filing, from verifying figures to
submitting online and checking for liabilities. I also understood how careful filing and
organization is important for audit purposes and avoiding penalties.
DATE BRIEF DESCRIPTION OF DUTIES PERFORMED

01 On Friday, I finalized the filing process for VAT and SDL returns. I rechecked the
Aug, submitted returns in the TRA portal to confirm that they were accepted successfully and
2025 no errors were reported. I also reviewed the customer assessment to see if any interest or
penalties appeared. After confirming that everything was correct, I printed and arranged
the receipts, return forms, and supporting schedules into the VAT and SDL files. I made
sure the files were well-labeled and arranged for future audits and internal review. I
learned that final verification and proper documentation are very important because even
after filing, the company must ensure that all records are complete, accurate, and easily
accessible. This experience improved my attention to detail and my knowledge of tax
compliance procedures.

04 On Monday, I participated in filing statutory returns for SDL (Skills Development Levy)
Aug, and VAT (Value Added Tax). This task involved reviewing monthly sales and payroll
2025 records to ensure the correct amounts were reported. I also assisted in verifying the
accuracy of calculations before submission to the tax authority. This activity enhanced my
attention to detail and understanding of government tax compliance requirements.

05 We continued with the SDL and VAT filing process from the previous day. This included
Aug, cross-checking transaction records against supporting documents to ensure compliance
2025 with deadlines and accuracy. I also learned how to prepare payment schedules for
remittance to the relevant authorities.

06 The day focused on learning about Loan Agreements. I was introduced to the process of
Aug, drafting, reviewing, and understanding loan contracts between the organization and
2025 financial institutions. I learned the importance of clearly defining repayment terms,
interest rates, and collateral requirements, as well as the legal implications of non-
compliance.

07 I attended a session on NBAAVN (National Board of Accountants and Auditors

Aug, Verification Number) and its benefits. This included understanding its role in promoting
2025 transparency, preventing fraud, and ensuring the authenticity of financial practitioners’
credentials. The training highlighted how NBAAVN supports ethical standards in the
accounting profession.

08 Public holiday
Aug,
2025
DATE BRIEF DESCRIPTION OF DUTIES PERFORMED

11 On Monday, I was involved in filling VAT returns. I learned that VAT is an important tax
Aug, that businesses are required to submit on time, and it is based on the value added to goods
2025 and services. While preparing and filling the VAT, I understood the importance of
accuracy in tax computation because even a small mistake can lead to penalties for the
company. This activity helped me to practice how to follow the tax law and how to ensure
that all sales and purchases are properly recorded before submission

12 On Tuesday, I worked on recording clients’ names for the year 2022. I realized that
Aug, maintaining an updated client list is very important for future references and auditing
2025 purposes. While recording, I learned that consistency in writing and organizing names
helps to avoid confusion. After compiling the list, I shared it with the company team, and
this improved communication because everyone was able to access the same updated
record.

13 I continued with recording clients’ names, but this time for the year 2023. I noticed that
Aug, some names were recurring from the previous year, and this showed me how long-term
2025 clients are important in business continuity. I also learned the skill of cross-checking data
to avoid duplication and errors. After finishing, I shared the list with the whole company,
and this taught me the importance of teamwork and ensuring everyone has access to
correct information.

14 we were taught about the NBAAVN system and its benefits. I learned that NBAAVN (18
Aug, digits) is used to identify taxpayers and their financial transactions in a unique way. This
2025 system helps to reduce fraud because every taxpayer has their own specific number that
cannot be duplicated. I also learned that it makes auditing easier since the number links all
financial activities to one taxpayer. Another benefit I understood was that it saves time
and reduces errors in record-keeping. For example, even if two clients had the same name,
NBAAVN makes it easy to know exactly whose transaction is being referred to. This
lesson showed me how technology is improving tax administration and transparency.

15 On Friday, I recorded clients’ names for the year 2024. This activity helped me to
Aug, understand how data builds year by year and how important it is to keep all records
2025 updated. I also learned how sharing the updated list with the team helps the company
work in harmony, since everyone uses the same reliable data.
DATE BRIEF DESCRIPTION OF DUTIES PERFORMED

18 I attended an office meeting where various issues concerning the department were
Aug, discussed. I participated in preparing the minutes of the meeting by listening carefully to
2025 the agenda items and writing down the key points raised by the members. I learned how to
structure minutes by including the date, time, participants, and main resolutions. Through
this task, I gained practical skills in professional communication and documentation. The
meeting helped me to understand how decisions are formally recorded for future
reference. Writing the minutes also improved my ability to summarize discussions in a
clear and concise manner. Overall, the activity gave me experience in handling official
records which are essential in office administration and auditing practice.

19 I reviewed the preparation of financial statements under the guidance of my supervisor. I

Aug, went through the process of checking whether transactions were accurately posted and
2025 whether balances were correctly carried forward. I also observed how supporting
documents are used to verify figures in the statements. The activity gave me exposure to
International Financial Reporting Standards (IFRS) and the importance of compliance. I
learned that accuracy in financial statements is important for decision-making by users
such as management and auditors. Reviewing the statements also sharpened my analytical
skills and helped me to identify areas that needed correction.

20 I continued reviewing the preparation of financial statements. This time, my focus was
Aug, more on presentation and classification of accounts. I checked whether assets, liabilities,
2025 income, and expenses were properly categorized according to accounting standards. I also
learned how notes to the accounts are prepared to explain figures in detail. This review
improved my understanding of how financial statements are finalized before auditing. I
realized that even small errors in classification can affect the overall reliability of the
statements. The exercise gave me more confidence in handling real financial documents
and applying theoretical knowledge to practice.

21 I worked on combining the amounts of audit fees paid by each customer from 2022 to
Aug, 2024. I collected information from client records and summarized it in a schedule. This
2025 activity taught me the importance of maintaining historical records for comparison and
trend analysis. I also practiced using basic data organization skills, such as arranging
figures in a table and computing totals. The exercise helped me to understand how audit
firms keep track of client payments and ensure transparency. By working on this, I
developed my attention to detail and learned how to prepare summary reports that are
useful to management.
DATE BRIEF DESCRIPTION OF DUTIES PERFORMED

22 I prepared an oath of “ownership of land” (umiliki wa shamba/kiwanja) which was used

Aug, as collateral for a loan. I was guided on how legal documents are drafted to confirm
2025 ownership and secure financial transactions. This task gave me exposure to legal
documentation in relation to auditing and finance. I learned that such documents must be
prepared carefully, using correct wording, to avoid future disputes. The activity also
showed me the connection between financial institutions and legal compliance when
granting loans. Preparing this oath improved my drafting skills and gave me knowledge
about collateral requirements in loan agreements.

25 The week began with a training session focused on developing a procedural manual, or
Aug, "mwongozo," for handling specific business occasions. The objective was to learn how to
2025 create a clear, step-by-step guide for future reference. Following this, I was tasked with
assisting with the completion of a routine file return.

26 My primary responsibility for the day was to accurately record all bank charges incurred
Aug, by the organization. This involved cross-referencing bank statements with internal ledgers
2025 to ensure all transactions were documented correctly and reflected in the company's
financial records

27 I continued with the task of accurately recording all bank charges incurred by the
Aug, organization. This involved cross-referencing bank statements with internal ledgers to
2025 ensure all transactions were documented correctly and reflected in the company's financial
records

28 The latter half of the week was dedicated to a major project involving the National Board
Aug, of Accountants and Auditors (NBAA). I assisted in scanning physical books from the
2025 2023 financial year that had not been included in the initial file return. The scanned
documents were organized according to their respective Tax Identification Numbers

29 we filed the monthly tax return to the Tanzania Revenue Authority (TRA). I logged into
Aug, the TRA portal and submitted the return online. After filing, we checked the customer
2025 assessment on the TRA system to confirm if the company had any liabilities, penalties, or
interest. I learned that filing a tax return is not complete until the customer

PART J: STUDENT STATEMENT

Student's signature: ________________________ Date: ______________________

On-site supervisor's signature:_________________ Date: ______________________

(OFFICIAL STAMP)