Stefalie Kaye Go of the Accounting Department of MSEUF emphasized accountability and transparency as keys in standardizing financial documents for proper documentation aligned with the Accounting and Auditing regulations during the seminar with the Treasurers and Auditors of various student councils, organizations, and publications at the University Library Seminar Hall, Jan. 25.
With the theme “Ating I-Set ang EUng Standard: Standardization of Financial Statements,” organized by the University Collegiate Student Council (UCSC) in collaboration with the Enverga University Junior Philippine Institute of Accountants (EUJPIA), Go tackled the process of liquidation, reimbursement reports, and acknowledgment receipts.
According to her, there are instances that some students were struggling to follow proper liquidations and reimbursements. She also noted that students transacting within the administration’s Finance and Accounting Department should follow regulations to ensure accuracy in liquidation reports.
“Kasi ang liquidation talaga na’tin, it’s all about accountability and transparency of the report. Kailangan lahat po ay accurate ‘yung ating mga official receipts na i-aattach. Kasi hindi lang naman para siya sa inyo, para rin sa amin–sa Accounting Office, para mas mabilis ma-verify kung tama ba ‘yung supplier na pinag-purchase natin,” said Go.
Moreover, Shieka Y. Rodriguez, the confidential staff of the Office of the Vice President for Finance (OVPF), explained the importance of formatting budget requests and implementing expenses for students’ events and activities inside and outside the campus.
Also, Angela C. Quillope, the UCSC Treasurer, identified that lack of proper knowledge and being unaware of auditing practices within an organization is one of the reasons that led to the conduct of this event.
Furthermore, John Hendrix C. Cabuyao and Austin J. Ng of the EUJPIA discussed the proper format of requesting budget, liquidation, and reimbursement through the use of Microsoft Excel and Google Sheets.
On behalf of the attendees, Jazmine C. Barrameda, the Treasurer of the College of Engineering-Department Student Council, said that this is the first time she has experienced and encountered an event dedicated to student Treasurers and Auditors of the campus.
She said that the relevance of the seminar provides awareness aligned with their responsibilities and obligations in their respective councils or organizations.
Barrameda added it was a great experience attending this kind of event and hoped that there would be other activities for them in the future.
In addition, the UCSC also informed the attendees that they would be accepting clarifications and queries through its helpdesk regarding Accounting or Auditing transactions.
