About 45 farmer-members from the Patanad Farmers Association (PFA), Samahan ng Tobacco Farmers Agriculture Cooperative (STFAC), and San Isidro Luna Integrated Farmers Association (SILIFA) were capacitated during the Training on Understanding Financial Statements and Bookkeeping for Non-Accountants in Sto. Domingo, Luna, Isabela from August 27–28, 2026.
Resource speaker Mr. Ferdinand Tallud, Cooperative Development Specialist II from the Cooperative Development Authority (CDA), discussed how to handle basic bookkeeping by properly recording daily sales, operating expenses, unpaid bills, and incoming customer payments. Participants were also taught how to organize receipts and invoices to avoid accounting errors and prevent missing funds.
Additionally, the discussion covered fundamental accounting terms, translating concepts such as Assets (what you own), Liabilities (what you owe), Equity (net worth in the business), Revenue (what you earn), and Expenses (what you spend to operate) into plain English.
To maximize time, Mr. Tallud also spearheaded a Pre-Registration Seminar for the three Farmers’ Cooperatives and Associations (FCAs) in Isabela, where he explained the mandatory documentary requirements for formal registration.
He emphasized that applicants must submit four notarized copies of fundamental organizational documents: an approved Cooperative Name Reservation Notice (CNRN), Articles of Cooperation detailing the legal structure and primary agricultural purpose, and By-Laws establishing internal governance. He added that following CDA approval, full legal operation requires secondary filings for local government business permits and Bureau of Internal Revenue (BIR) registration to obtain official tax records and receipt authority.
Meanwhile, Ms. Lilibeth Catap, Regional Marketing Assistance and Enterprise Development (MAED) staff, stressed the importance of FCAs participating in training programs like this to enhance the management and organization of their revenues.
“Napakahalagang pagsasanay ito sa ating mga SAAD beneficiaries. Kailangan natin isanay ang mga officers ng bawat association para sa tamang paggawa ng recording sa kanilang sales at expenses at para makita kung ang kanilang business enterprise ay kumikita. Kapag ang asosasyon ay kumikita, ibig sabihin ay maayos ang pamamalakad ng grupo at nagiging successful ang kanilang enterprise,” Catap explained.
(This is a very important training for our SAAD beneficiaries. We need to equip the officers of each association to properly record their sales and expenses so they can see if their business enterprise is earning. If the association is making a profit, it shows that the group is well-managed and their enterprise is successful.)
With this training, participating FCAs are expected to improve their skills in managing, tracking, and recording their financial resources.###
