BDO microfinance efforts

MANILA, Philippines - A two-day capacity building program on “Accounting for Non-Accountants” was held for branch officers from CARD-MRI in the BDO Foundation Micro-Finance Center in Bay, Laguna.

Twenty-five branch officers attended the two-Saturday seminar with BDO Volunteers speakers Bobby Isip, branch head of Edsa-Balintawak and Jimmy Silva, audit officer, Internal Audit Department.

The speakers tackled the basic principles of accounting with emphasis on the accounting equation, significance of debit and credit in business transactions and basic accounting terminologies on the first day.

The second day discussion focused on financial statement analysis using financial ratios as tools in determining a firm’s financial condition.

Likewise, it emphasized that financial statement analysis is very useful in determining the client’s capacity to pay and credit worthiness in cases of loan application.