The Cooperative Development Authority (CDA) Region IX, through the Coconut Farmers and Industry Development Plan (CFIDP), conducted a two-day training on bookkeeping and accounting for non-accountants, tailored specifically for eight cooperatives in Zamboanga Sibugay. The training, held from September 10-11, 2024, at Buug Palace Inland Resort and Restaurant, Buug, Zamboanga Sibugay, aimed to equip cooperative members with essential financial management skills to enhance transparency and accuracy in their operations.
Practical Bookkeeping for Non-Accountants
Facilitated by Jun Paul Cuasito, Cooperative Development Specialist II, the seminar focused on simplifying bookkeeping and accounting concepts for participants who may not have formal accounting backgrounds. The topics covered in the training provided cooperative members with a better understanding of financial records, enabling them to handle day-to-day transactions and maintain accurate financial reports.
Cuasito’s session addressed fundamental bookkeeping concepts, such as:
- Recording Transactions – Ensuring that daily income and expenses are properly documented.
- Understanding Financial Statements – Learning the basics of balance sheets, income statements, and cash flow statements.
- Tracking Cooperative Finances – Managing receipts, payments, and bank reconciliation.
- Budgeting and Financial Planning – Helping cooperatives to forecast expenses and allocate funds efficiently.
Participants actively engaged in practical exercises, which allowed them to apply what they learned in real-life scenarios. This hands-on approach helped reinforce the significance of precise record keeping in maintaining cooperative financial health.
Message from CDA IX Regional Director
Ruben L. Cunanan, JD, Regional Director of CDA IX, also graced the event and delivered a motivating speech on the importance of bookkeeping in cooperative management. He emphasized that accurate financial records are the backbone of successful cooperatives, fostering trust and accountability among members. Cunanan reminded participants that good financial stewardship strengthens cooperatives and paves the way for growth and sustainability.
He encouraged the cooperatives to continue applying the knowledge gained in the training to improve their financial management systems and maintain transparency, which is vital for their success and longevity.
Strengthening Cooperatives through Financial Literacy
The eight cooperatives that participated in the training expressed appreciation for the valuable insights gained from the seminar. Many participants acknowledged the importance of proper bookkeeping in keeping their cooperatives financially healthy and compliant with government regulations. They viewed the training as an essential step toward improving their management practices and ensuring the success of their organizations.
The CFIDP, through CDA Region IX, continues to support cooperative development by offering capacity-building initiatives like this. By strengthening cooperatives through financial literacy and sound accounting practices, CDA IX empowers local organizations to thrive and contribute to the socioeconomic progress of Zamboanga Sibugay.
This training reflects CDA IX’s unwavering commitment to nurturing cooperatives, ensuring that they are equipped to face the challenges of a dynamic economic environment while upholding their values of shared growth and sustainability.
