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                Early Bird Deadline          CGBP                                                                 

presents

THURSDAY & FRIDAY, SEPTEMBER 6 & 7, 2018 * 9:00am to 5:00pm
MANILA MARRIOTT HOTEL, PASAY CITY, PHILIPPINES
Cooperatives have a different way of presenting their accounting report. This two-day training will provide you a comprehensive understanding of the cooperatives' financial statements under the Philippine Financial Reporting Framework (PFRS). Attending this financial literacy program will make you a more effective board director, leader, manager and user of financial information. This user-friendly guide will address important issues such as knowing the difference between Cooperative Statement of Financial Condition vs. Corporation's Statement of Financial Position; Cooperative Statement of Operations vs. Corporation's Income Statement, and more!


Attending this special training will empower you to learn and interpret the financial statements of cooperatives to make sense of the numbers in order for you to correctly make the right decisions.
   Limited Seats Only, Pre-Registration Required

   REGISTER NOW and avail of the
Early Bird & Group DISCOUNTS!


   Contact Person: Mary Grace Dominguez
   Manila lines: (+632) 556-8968 or 69
 Manila Telefax: (+632) 842-7148 or 59
   Email: marae.cgbp@yahoo.com
   Check: http://www.cgbp.org
   Training Investment is P16,580
   inclusive of Meals, Resource Kit, &
   Certificate of Attendance

Course Director and Lecturer: Ma. Elma L. Ilagan-Ame, CPA - Appointed by the Cooperative Development Authority as a member of the National Technical Working Groups for the development of the Philippine Financial Reporting Framework for Cooperatives (PFRF), Standard Chart of Accounts, Standard Audit System, External Auditors' Accreditation Guidelines for Cooperatives, and modules for External Auditors' Accreditation Training. Her firm M.I. Ame Accounting Office, is helping many of the largest cooperatives in the country. She is an active PICPA member, currently sitting in the PICPA National Board as Director for Southern Tagalog Region and having been Chair of the PICPA National Committee on Cooperative Development.
She is a graduate of Bachelor of Arts, major in Economics, and Bachelor of Science in Commerce, major in Accounting, at the De La Salle University Manila in 1987. She placed 12th in the May 1988 CPA Board Examinations. Her commendations and awards include the Rotary International Centennial Service Award for Professional Excellence in the field of Public Accountancy (2005), Outstanding PICPA Member for Southern Tagalog Region (2005), PICPA Special Achievement Award for Professional Development (2008) and PICPA's Outstanding CPA in Public Practice (2010).


    Who Should Attend:

      •Board Directors and Audit
       Committee


      •Officers and Members of
       Cooperatives


      •Accountants

      •Auditors

      •Lawyers

      •Everyone who wants to learn
       how to really read financial
       statements of cooperatives




UNDERSTANDING COOPERATIVE FINANCIAL STATEMENTS


Manila Marriott Hotel, Pasay City, Philippines
9:00am to 5:00pm, Thursday & Friday, September 6 & 7, 2018


Course Outline

A. THE PHILIPPINE FINANCIAL REPORTING FRAMEWORK FOR COOPERATIVES (PFRF)

        a. Legal Basis
        b. Why was it created?
        c. When was it effective?
        d. Who are the users?
        e. What are the objectives and pervasive principles?
            i. Basis of accounting-cash or accrual?
            ii. Changes in Estimates, Accounting Policies and Errors
        f. Required format and presentation of Cooperative Financial Statements under the PFRF


B. BASIC FINANCIAL STATEMENTS UNDER THE PFRF

      1. STATEMENT OF FINANCIAL CONDITION (Balance Sheet)
        a. Presentation Requirements-How is a Cooperative Statement of Financial Condition different from the
            Corporation's Statement of Financial Position
        b. How are accounts in the Statement of Financial Condition presented? - minimum presentation requirements
        c. Accounting Treatment for certain Balance Sheet accounts:
            i. Cash
                1. What will fall under Cash and Cash Equivalents?
                2. Can a Coop deposit Cash in a Cooperative Federation?
                3. Other Funds and Deposits account-how is this utilized?
            ii. Loans and Receivables
                1. Unearned Interest on Loans-how to present in the FS
                2. Installment contracts-how to recognize?
                3. Concept of Portfolio-at-Risk
                4. Required Allowance for Probable Loss
            iii. Financial Assets income and loss recognition for different types of financial assets
            iv. Inventories
            v. Investments in Associates, Joint Ventures and Subsidiaries- difference in accounting treatment between
                Corporation and Cooperatives
            vi. Investment Property
            vii. Property, Plant and Equipment-can a Cooperative use the revaluation method?
            viii. Intangibles
            ix. Biological Assets
            x. Extractive Activities (Mining, etc.)-how to account for assets and liabilities arising from extractive activities
            xi. Provisions and Contingencies
            xii. Impairment of Assets-when do we impair?
            xiii. Due to Unions and Federations-how do we optimize their utilization?
            xiv. Accounting for Project Subsidies

      2. STATEMENT OF OPERATIONS (Income Statement)

        a. Presentation requirements- How is a Cooperative Statement of Operations different from a Corporation's
             Income Statement?
        b. Reporting of different business segments of a Cooperative
        c. What are the peculiar accounts and accounting treatments under
            the Cooperative's Statement of Operations?
            i. Borrowing costs-do we capitalize or do we treat as expense?
            ii. Retirement benefits-difference in accounting treatment between Corporation and Cooperatives
            iii. Foreign Currency transactions
            iv. Leases-Operating and finance lease accounting treatment
        d. How to determine if Coop is subject to income tax
        e. Distribution of Net Surplus
        f. Statutory Funds-nature, purpose, how to allocate
        g. How are Interest on Share Capital and Patronage Refund computed?

      3. STATEMENT OF CHANGES IN EQUITY

        a. Share Capital and Treasury shares
        b. Deposits on Share Capital Subscriptions-equity or liability?
        c. Donations and Grants
            i. Accounting Treatment
            ii. Accounting for Donations in the form of Property and Equipment
        d. Relation of Statement of Operations to Statement of Changes in Equity
        e. Statutory Funds
            i. Movements
            ii. Why is it important to Fund the Statutory Funds?
            iii. Accounting for Property and Equipment purchased through Statutory Funds
            iv. Accounting for Deficit in Reserve Fund
            v. Modified distribution of Net Surplus to offset debit balance in Reserve Fund
        f. Revaluation Surplus

      4. STATEMENT OF CASH FLOWS

        a. Methods used
        b. Peculiar items in Cooperative's Statement of Cash Flows

      5. NOTES TO FINANCIAL STATEMENTS


        a. Why is ther a need for notes to FS
        b. Information to be privided
        c. Management's Estimates and Judgements
        d. Events after the end of the Reporting Period
        e. Related Party Disclosures- what to report, when to report


C. ANALYSIS OF COOPERATIVE FINANCIAL STATEMENTS

Importance of Analyzing Financial Statements

Performance Tools prescribes by the CDA

- Profitability Performance
- Institutional Strength
- Structure of Assets
- Operational Strength


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SEMINAR FEE PER PERSON: P16,580 (Fee covers Meals, Resource Kit, Certificate of Attendance)

GET AS MUCH AS 15% DISCOUNT! AVAIL OF ANY OR ALL OF THE FOLLOWING:

Less 5% for early registrants (on registrations made on or before August 6, 2018)
Less 5% for early payment (if made on or before August 26, 2018)
Less 5% for group registration (minimum of 3 participants)

CLICK HERE TO ENROLL NOW!
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Share |
Download: Flyer - Black&White (.PDF 396kb)
                         Course Outline (.PDF 116kb)