The CDA Region I Extension Office and the Pangasinan Chapter of the Philippine Institute of Certified Public Accountants (PICPA) jointly organized the Financial Management for Cooperatives Webinar. It was held on August 25, 2022, through KoopBalitaan, with 964 participants attending via Zoom Meeting and Facebook Live. The training was intended to assist officers think about the financial aspects of their jobs. It enables them to improve processes in their operations over time, lowering costs and increasing efficiency. Thus it provides officers with adequate financial services to their cooperatives as well as their members, which ultimately helped the cooperatives maintain their gains. Dr. Daniel T. Gonzales, CPA, DBA, of PICPA led the training in discussing financial management, and he conducted the webinar in close collaboration with the training team.
Dr. Gonzales discussed about the concepts, relevance, and basic functions of financial management. He gave participants a basis in Financial Management, namely in the acquisition, financing, and management of assets and resources. Participants were also educated about the function of financial management in the real management and control of money and money-related operations inside the cooperative. Participants were able to gain an understanding of the scope of financial management, services, and fund users; optimize the use of various financial analysis techniques; and discuss various approaches in enabling cooperatives to assist their member-borrowers in becoming financially viable to meet their financial obligations. Certainly, the learning sessions equipped key officers with the essential competences to oversee the administration of their cooperatives’ financial resources, allowing them to better comprehend the cooperatives’ financial health.
Participants expressed their appreciation to the CDA and its organizers for their continuous assistance and full support to the cooperatives, as well as to the speaker for patiently imparting his knowledge on the subject-matter.
This activity would greatly assist cooperatives in developing action plans focusing on areas for improving their financial condition, which would result in more efficient and effective operation management. (Bianca Cuenca, Acting Chief, CSF Section)