By Roland Blanco, Special to Arab News
Publication Date: 
Fri, 2002-04-12 03:00

RIYADH, 18 April — Starting Friday, the Philippine Institute of Certified Public Accountants (PICPA) — Riyadh Chapter will hold a series of seminars on “Accounting for Non-Accountants.”

The seminar will be held at the Philippine Embassy’s labor office (POLO) for four four consecutive Fridays, from 4 p.m. to 8 p.m.

Chapter officials said the seminar is virtually free of charge, with only 20 riyals to be charged each participant for the whole duration of the seminar for printouts of training materials that will go to them.

Since its inception in 1994, the “Accounting for Non-Accountants” seminar has provided opportunity to nearly a thousand kabayans in Riyadh either to those who have taken few accounting units in college or none at all.

“The seminar serves as a refresher course to those who have forgotten accounting terminologies. Beginners who would like to keep abreast of accounting developments can use it as a tool in managing a business,” explained Rolly Bermundo, the chapter’s incoming president.

The seminar will present modules which include bookkeeping equation and value, debit and credit, journalizing and posting, financial statements, and a separate discussion and presentation on computerized system application.

“Participants can learn basic accounting procedures, and how these procedures operate in a computerized accounting system. They can also learn to analyze financial condition and results of business operation,” assured Primar Asuncion, the current chapter president.

“The participants can also acquire businesses management skill, right attitude towards achieving business success, and how to protect the business interest,” added Bermundo.

All the lecturers are PICPA members who are competent and experts in the accounting field.

A special session will be arranged to accommodate those who will not be able to attend the first day of the seminar and to join the rest of the participants in the succeeding days, organizers said.

PICPA has scheduled a sequel seminar also at the Labor Office on May 24 for those who have attended the previous “Accounting for Non-Accountant” seminars and for fellow PICPA members.

Important profession

The accountant’s job is to safeguard the finances of a company and maintain public trust in public offices, making accounting one of the most important professions.

When accountants take part in window-dressing a company’s books or in other corrupt practices, the company or public office are doomed.

Thus, the seminars are considered timely in the wake of the collapse of the Chicago-based Arthur Andersen LLP, one of the world’s biggest accounting firms, that has been battered by the Enron Corp. bankruptcy scandal.

The Philippines’ own top accounting firm SGV had also been affected by the scandal, it being partly owned by Andersen.

SGV also has its own blackmark in connection with its handling of the Victorias Milling Company’s books.

PICPA is said to be looking into the role of the accountants who have been involved in the Victorias Milling scandal.

PICPA-Riyadh Chapter was organized in 1992.

Its past presidents were: Renato Salazar, Eufemio Bantugan Jr., Egay Gonzales, Allen Baccaro, Winefred Maranan, Dennis Lumintac, Ruben Escobido, Obet Geronimo, Nap Capulong, and Ma. Victoria Tuqiero.

Interested parties who wish to participate in the forthcoming seminars may contact Primar Asuncion at tel. No. 265-0193 ext. 217, Rolly Bermundo at 419-6000 ext. 5521, Robert Gessel at 218-0180 ext. 7003 or ext. 000, and Marlon dela Cruz at 464-1188 ext. 380.

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