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Fieldtrip Reaction Paper

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Time is Platinum.

"Late comers will be left behind."

August 23, 2006

Last August 23, 4:30 PM at IIT guardhouse time, we departed from MSU-IIT campus to start our most awaited trip to Cebu City via a Rural Transit bus that transported us to the pier in Cagayan de Oro, where we aboard Trans Asia 1. Dinner was served before departure and at exactly 8:30 PM, the ship left the port. We're together with the BS Economics and BS Physics students in the Economy A section of the ship (third floor) while our teachers were accommodated in the Tourist class.

At last, we're going to Visayas. It was really fun to travel by batch and we had some fun looking around the ship. It was a cold windy night and almost everyone slept late because of excitement (I think so). There were some who slept early because they never want to feel seasickness due to large waves that shakes the ship sideways. I myself haven't slept immediately because I am not used to travel by sea.

August 24, 2006

Before the docking maneuver, some of us were already prepared.

I went with the other block girls and we have to bring our baggage with us to the tourist comfort rooms just to freshen up. We just sneaked in it because Economy class comfort rooms are already full. An experience that I choose not to forget is when I took a bath in a four square meter bathroom. That was really a no choice decision and you have to do it fast than usual. You feel like you still haven't taken your bath after because it's hot inside it. After dressing up in corporate attire, we returned to our decks and have some fresh air outside; looking for something unusual that might be a good view for picture taking. Weather was good and the sun was shining brightly over the clear blue sky.

It's most 9 AM, and we're still at the sea.

Cebu

Island

is now visible, with towering buildings on it and it's quite different from neither Cagayan de Oro nor

Iligan

City

because there's this bridge that really caught my attention. All sorts of land vehicles used it and it looks like a replica of the bridge I saw through the National Geographic channel that was built by the Japanese. Good thing, Dexter was there to help me document such captivating scenery.

I'm starving and tired but at the same time, excited. We hurriedly went down and lined up at the corridor near the boarding area. We looked like stranded passengers who waited to be rescued by 911 and it's getting hotter and hotter in the hallway. Although dismayed, we we're still having fun because we were diverting our attention to the "Badjaos" of

Cebu

. They dive for whatever coin you throw into the sea. It's really fun looking at them but most of us got pitied more on the old woman who could not dive. Instead of diving, she opened her wide sack cloth to catch the coins thrown to her.

The bus was waiting for us outside pier 4 and we hurriedly went toward it after getting off from Trans Asia 1. We were definitely late for our breakfast and as soon as we were all in, we went to Hanga Bai to have our breakfast in an eat all you can set up. On our way, we were amazed of the towering buildings.

Ayala

Center

, Innove of Globe Telecom, International Hotels and IT Buildings amazed me a lot. It's a clean city but having narrow streets.

HANGA BAI - We savored everything that can satisfy our hunger for as long as we have to eat everything, leaving no leftovers. Otherwise, we pay double. Good thing is that we're the first customer and we were able to taste everything that we wanted to. It was really a mouthwatering meal, not to mention time pressured. We we're given fifteen minutes to eat and fix ourselves before we went to our first company visit.

SEC Ð'- Securities and Exchange Commission.

It's a small world! A Fellow IITian and an alumnus of our college greeted us with a smile when we reached the second floor of their building. She's one of the staffs there and was an accounting major graduate. When she asked me about my teacher, she just smiled because she was once under Prof. Nieva's class too. She didn't mention the year she graduated but I am sure that Prof. Nieva recognized her when they chatted while we were having the semi-formal lecture.

Three of the lawyers there gave us an overview of what is SEC all about, its functions, and how does it work. Knowing that we are majoring accounting, they also discussed about the accreditation of Certified Public Accountants. It is a requirement for the CPAs to get accredited in order to be recognized by SEC. According to them, through online transactions, one can now reserve a name by accessing through the website of SEC, the http://www.sec.gov.ph . With that, a more efficient, fast and reliable service is now available to cater the needs of their clients. This also includes registering corporations and partnerships, getting new information and memorandum orders regarding SEC and its company profiles as well as customer service. We have also seen some of the actual papers that were given to clients for the approval of the registration of the businesses. It is color coded depending on the nature of the business entity registered as to profit or not for profit, stock and non-stock.

In addition, they gave us flyers about SEC and they answered all our questions too. We had picture taking in their office together with the staffs there. Here is some of the information we got from them.

History: SEC was established on 26 Oct 1936 by virtue of the Commonwealth Act No. 83 or the Securities Act. Its establishment was prompted by the need to safeguard public interest in view of local stock market boom at that time. Operations began on 11 Nov 1936 under the leadership of Commissioner Ricardo Nepomuceno. Its major functions included registration of securities, analysis of every registered security, evaluation of the financial condition and operations of applicants for security issue, screening of applications for broker's or dealer's

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