By Hannah Abigail T. Regencia
The Department of Accountancy of the College of Business Administration and Accountancy (CBAA) conducted a seminar-workshop on Internal Control and Bookkeeping last August 20, 2011.
The seminar-workshop was a response to requests of entrepreneurs with business interests around the campus.
Accountancy Prof. Sheevun Di Guliman, CPA, provided the participants with skills in bookkeeping and in their internal control system through applicable modules tutored by facilitators from the Department.
CPA Professors Daylinda A. Alfeche, Ms. Zacara Jane N. Bolodo, Divina M. Gallardo, and Jahara D. Ibrahim discussed topics on bookkeeping, the accounting equation (A=L+OE), the identification of the elements (including their nature and classification) of the financial position, the journalizing, posting of entries and use of special journals, and the accounting cycle.
CPA facilitators Prof. Wilfreda O. Loable and Ms. Amirhesa M. Abapo taught the basics of internal control that, in business, is the most susceptible to fraud and manipulation. Sound internal control, as emphasized, requires reliable and qualified employees to control inventory and a system to safeguard assets, including management techniques such as Pricing and Breakeven Analysis.
The activity, well-lauded by the participants as it added insights in the efficient and effective management of their businesses, has encouraged the CBAA to conduct more extension services for the community.