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                       CGBP                              
present



THURSDAY, FRIDAY, MONDAY & TUESDAY, OCTOBER 7, 8, 11 & 12, 2021
8:00AM to 12:00NN via zoom logo

You cannot improve what you do not understand.

This four-session training is designed for the management officers and all board directors of Electric Cooperatives (ECs) to upgrade their skills on how to read, understand, and interpret financial statements. There are many peculiarities in the in the accounting and financial reporting practices of ECs that are not taught in schools.

By enrolling in this program, you will gain practical working knowledge that can very useful during board meetings and management deliberations. Attending this training will enable you to know how financially healthy is your EC, spot issues, ask the right questions, and make smart decisions based on its the financial reports. You will also learn what you need to know about the internal and external auditor's reports, pointers to avoid material weaknesses in financial controls, effective performance dashboards, and many more!
Who Should Attend:

   Board Directors of ECs
   Key Management officers
   Finance Managers of ECs
   Accountants, Lawyers
   Internal Auditors of ECs
   Human Resource Officers of ECs
   Everyone interested with this topic

*Training investment is P 8,000
per person inclusive of an
e-certificate and a printed
learning material

Course Director & Lecturer:

Concordio S. Quisaot, CPA
He is an expert practitioner with more than 35 years of experience in areas of banking and finance, accounting for electric cooperatives, auditing, data analytics, risk management and controls.

He was Director of PICPA-Cebu Chapter and Representative of the Board Member at Philippine Financial Reporting Standards. He was Assistant General Manager of Cebu I, II, & III Electric Cooperatives (CEBECO I, II & III). He served as the Vice President and Compliance Officer of Rural Electrification Financing Corporation and was an active member of the Professional Regulatory Board of Accountancy and Brotherhood of Christian Businessmen and Professionals.

Presently, he is Dean of Enrique T. Yuchengco School of Business and Management at Mapua University Makati, and is a consultant to various electric cooperatives in the Philippines. He is also the Chairman of Audit Committee of Community Rural Bank of Catmon.

    Contact Persons:   Cherie Joyce Garcia, NETI Coordinator                         * Mobile Number (+63 995) 418-7328
                                    Jamie Aliana Borlaza, CGBP Program Coordinator       * Mobile Number (+63 998) 510-3748
                                    Email:   jamie.cgbp@yahoo.com                                      * Telefax (+63 2) 8842-7148 or 59
                                    Check:  www.cgbp.ph


We encourage everyone to register and pay on or BEFORE September 7 to ensure timely
delivery of the printed lecture guide that you will find useful to maximize learning.



You are required to upload your Land Bank proof of
payment and other details as pre-requisite to enroll.



Click here for the payment guide, requirement, and to enroll


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HOW TO REALLY READ FINANCIAL STATEMENTS FOR
ELECTRIC COOPERATIVES


THURSDAY, FRIDAY, MONDAY & TUESDAY, OCTOBER 7, 8, 11 & 12, 2021
8:00AM to 12:00NN via zoom logo



COURSE OUTLINE




1. Framework for Financial Statement Reporting


                  A. Users of Financial Statements & their Purpose for Reading FS
                  B. Management & Employees
                  C. Consumer-Owners
                  D. Banks and Electricity Suppliers - Current and Potential
                  E. Regulatory and Government Agencies
                  F. Social Responsibility Groups eg. Consumer Groups


2. Financial Statements and Their Uses


                  A. Audited Financial Statements
                       a. Balance Sheet or Statement of Financial Position
                       b. Income Statement or Statement of Profit or Loss and Comprehensive Income
                       c. Statement of Cash Flows
                       d. Footnotes/ Disclosures
                       e. Supplementary Schedules
                       f. Management Discussion & Analysis

                  B. Monthly Financial Statements and Statistical Report
                       a. Statement of Operations
                       b. Consumer Sales and Revenue Data
                       c. Balance Sheet
                       d. Consumer Accounts Receivable
                       e. Energy and Demand Data
                       f. General Statistics


3. What Decision-Makers Need to Know About the 3 Principal Financial Statements


                  A. Purpose
                  B. Statement of Management Responsibility for FS


4. What Board Directors and Management Need to Know About Accounting Principles


                  A. The Impact of Using Different Accounting Methods
                  B. Use of Footnotes/ Disclosures & Schedules
                  C. Relationships/ Links Between Financial Statements


5. Income Statement, Balance Sheet & Statement of Cash Flows


                  A. Importance & Use
                  B. Accounting Principles & Methods
                  C. Footnotes/ Disclosures
                  D. Relationships/ Links
                  E. Massaging Numbers
                  F. Review by Audit Committee & Board of Directors


6. Understanding the EC Financial Perspective


                  A. Non-Stock Non Profit Entity
                  B. Rate based on Cash Flow Methodology (Now Modified Cash Flow under RSEC-WR)
                  C. Pass through Generation & Transmission Rates
                  D. Government Mandated Charges
                  E. Cost Recovery for Distribution with Indexation
                  F. True Up mechanisms of pass through charges


7. What to Spot in EC Financial Statements


                  A. How to Know if Your Cooperative is Really Making Money - Profit Analysis
                  C. Interpreting the Numbers Using Financial Statement Ratios
                  D. Impact of Growth & Decline on Financial Statements


8. Issue Spotting


        - What Questions Should You Be Asking as Business Owner or Management



9. What You Should Include in Performance Dashboards



10. Pointers to Ensure that Recording, Processing & Reporting Data Do Not Result in Material
      Misstatement of Financial Statements



11. Pointers to Avoid Material Weaknesses in Internal Controls



12. Financial Policies for Fraud Prevention that Decision-Makers Should Have



13. What Decision-Makers Need to Know About the External Auditor's Opinion


                  A. Types of Opinion
                  B. How to Read and Understand the Opinion


14. Understanding Basic Concepts in Making Business Decisions


                  A. Understanding the "Cash to Cash" Concept
                  B. What is Working Capital?
                  C. What are the Basic Internal Financial Decision-Making Concepts?
                        Cost-Volume-Profit Analysis
                        Break-Even Point
                        Others


15. What Decision-Makers Can Get from Reading Financial Statements


                  A. What clues we can get from Financial Statements?
                        Creating Strategies
                        In Valuing Companies
                        In Investment Decision-Making


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Training investment is P 8,000 per person inclusive
of an e-certificate and a printed learning material



You are required to upload your Land Bank proof of
payment and other details as pre-requisite to enroll.



Click here for the payment guide, requirement, and to enroll



            
                                                                                            DOWNLOAD FLYER: How to Really Read Financial Statements
                                                                                                                                for Electric Cooperatives


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Download: Course Outline (.PDF 167kb)