Development Plan – Accounting Office

Accounting office is considered to be one of the important units of the institution. The office establish and maintains, on behalf of the administration, an accurate accounting system, develo9ps a sound internal accounting controls to safeguard the university assets from loss through unauthorized use or disposition and assume the proper recording of financial transactions in accordance with Governmental Generally Accepted Accounting Principles (GAAP). The Accounting office is situated on the first floor-leftwing of the UEP-Administration building.

The unit is headed by a young, brilliant, and dynamic man, with sixteen (16) competent employees under his supervision, who in their own way manage to be an asset of the university. The staff interacts on a daily basis with other departments within the Finance and Administrative area, such as the Budget Office, Cashiers Office, Supply Office, Office of the President, Office of the Resident Auditor and other administrative campus wide. The Accounting office provides numerous services in support of the finance activities of the University.

These services are beneficial to a wide variety of constituents including students’ financial staff, executive management, trustees, auditors, etc. Listed below are examples of services: 1) Daily monitoring, and verifying of the accuracy of the finance system to protect the integrity of financial records (an example of the main services the office is rendering). This ensures that the finance system is accurate and that up-to-date information is available for users making account inquiries and fiscal decisions. It provides reliable information for reporting purposes and enables the university to avoid audit findings. )

Reconciling all bank accounts and other selected general ledger accounts on a regular basis is also a concern of the office. Bank accounts are reconciled to ledger balances so that the university’s actual cash position is known, in order that all charges or deposit to the bank are reflected in the university’s accounting system, and to satisfy accounting and auditing requirements. 3) Conducting internal audit and control functions. Provide feedback about strengths and weaknesses of a program and level of compliance with policies and procedures. ) Accounting for the university’s fixed assets (equipment and plant assets) 5) Ensures proper recording, safeguarding, and valuation of fixed assets, and provides reliable information needed to make decision. 6) Reviewing transactions, including receipts, disbursements and other related entries, preparing cash flow analysis for individual accounts as well as for the university, and assisting in detecting any errors. 7) Coordinating, scheduling, processing, and other activities related to the year-end close out process in preparation for the new fiscal year.

This enables all necessary year-end transactions to be processed on a timely basis and ensures the smooth transaction from one accounting year to the next. 8) Evaluating alternative accounting procedures for existing and new programs and issues. To reduce risk to the university, and decreases chance of audit criticism. 9) Preparing and maintaining internal and external financial reports. II – RATIONALE OF THE PLAN The three-year development plan of the UEP-Accounting office focuses on the immediate needs of the office in order to serve best its constituents.

Like any organization, the accounting unit wanted to improve its service to meet its mission, vision and goal. The office believes that there is a need for awareness on the changing environment so as to be more competitive. The plans laid down by the office are actually a product of observation from the people in the accounting office. The plans have been discussed on how the office will come up with strategies to achieve them for a three-year time frame. III – MISSION To work with utmost devotion and boast up the standard of organization within the flinching efforts and challenging conditions and situations.

VISION Self-worth and trust empowered organization allowing all individuals to achieve full potentials for productive and responsible participation in society at large. GOAL 1. Provide continue client’s satisfaction to meet their needs and react with a sense of urgency and follow through. 2. Provide the fiscal coordination of reports and performs full accounting function for the University. 3. Provides accurate financial reports. OBJECTIVES 1. To be able to provide data to meet the immediate needs of its clients. 2.

To be able to submit financial statements on time to the office of the Resident Auditor and Department of Budget and Management. 3. To be able to come up with accurate data that would support financial reports of the office. IV – DESCRIPTION OF ENVIRONMENTAL SETTING SWOT ANALYSIS Strengths a. Qualified and competent personnel b. Good reputation among customers c. Able to respond very quickly – no red tape d. Young and energetic head of office e. Air-conditioned room f. Good rapport with co-employees (human relations) Weaknesses a. Overcrowded (too many personnel) b.

Inadequate computers c. Small space d. Inadequate supplies e. Inadequate attendance in seminars/lack of opportunities in training attendance f. Low salaries g. Waning enthusiasm among employees (due to old age, etc. ) Opportunities a. Plenty of good customers (students) b. Peace and order situation (peaceful environment) c. Automation made work easier and faster through the advent of new financial accounting system d. Availability of information about best practices in financial matters Threats a. Low staff income in comparison with private firms b.

Traditional way in preparing reports c. Lack of technology advancement and updated devices d. Unstable power supply V – Strategic Alternatives To better achieve the university’s goal and objectives, the following identified strategies are hoped to be operational: 1. Enroll for Electronic-new Government Accounting System (e-NGAS) e-NGAS became the talk of the town since it was formally launched in the last quarter of 2003. Heart warming testimonies on the efficiency of the system stream steadily from users in various government agencies which have availed of the system.

The Philippine Commission on Audit is grated by the 1987 Constitution the “exclusive authority, subject to limitations, to define the scope of the audit examination, establish the techniques and methods required therefore and promulgate accounting and auditing rules, including those for the prevention and disallowance of irregular, unnecessary, excessive, extravagant, or uses of government funds and properties. ” In this context, the Commission on Audit undertook the Government Simplification and Computerization Project.

It is a major reform that replaced the old accounting system with a modernized New Government Accounting System (NGAS), which conforms to internationally accepted accounting standards. The project includes the design and development of the electronic version of the system which is now called Electronic Government Accounting System (eNGAS). Objectives of eNGAS 1. Standardize recording and reporting of government financial transactions. 2. Consolidate financial reports for National Government Agencies (NGAS), Local Government Units (LGUs) and Government Owned and Controlled Corporation (GOCCs). . Align the Government Accounting System with International Accounting Standard (IAS). 4. Ensure accountability and transparency in government financial management. eNGAS Environment /Technical feature: – Runs on Microsoft SQL

Server or other multi platform database management system – Multi-user operations – Alpha search and look-up system codes and transactions – Alpha data entry and validations – Online query/reporting facility – Audit trail fro system users – Automatic recovery from hardware and system failure – Systems installation fee is very minimal Inclusion of the standard NGAs chart of accounts – Automatic checking of balances between debits and credits – Data validation to avoid duplication and redundancy – Electronic processing and approval of Journal Entry Voucher (JEV), recording of transactions in the General Journal and posting to respective General Ledger and Subsidiary Ledgers. – Online tracking of Property, Plant and Equipment (PPE) items, as to acquisition of costs, accumulated depreciations, and repairs and maintenance – Monitoring of balance of appropriations, allotments, obligations, and cash allocations.

Beneficiaries: – Agency management – Agency accounting personnel – Oversight and regulatory agencies – General public – Government executives and legislative officials The UEP Accounting office had actually purchased two (2) sets of computers in preparation for e-NGAS. It is hoped that the university could avail the efficiency of the system. 2. Attendance of Personnel in Seminars and Trainings People are an important resource of an organization. In order to enhance the competitiveness of human resources, an organization must find ways in focusing activities for employee development.

Any professional growth on the part of employees means advancement for the organization. There is a need for the re-tooling of the skills of the personnel in Accounting office. Attendance in seminars and trainings is one way of shoving to the employees that the organization is giving importance in assisting them to enhance or gain additional knowledge in line with their filed of specialization. It has been observed that for the past years, not a single attendance was being participated by accounting personnel in various seminars.

Accounting employees are eager to develop further knowledge which will not only be a gain for them but for the university as a whole. The accounting unit is in dire need to include this activity as a basic need that has to be accomplished within the three-year time frame. 3. Improvement of office structure The accounting office had just moved to its new place. Compared to its previous office, it is more conducive to work with, considering that air-conditioned on the entire office was installed. Since the office is composed of sixteen (16) personnel, the place itself was quiet limited to provide a stockroom.

There were no enough cabinets that could accommodate the papers which from time to time is retrieved for reporting purposes. For security reason of all these importance documents, the office would want to improve the office structure so as to be organized in filing. There will be no major renovation on the place but it’s a matter of putting some fixtures that could complement the used of the workplace. The provision to have a stockroom was identified and hopefully for the three-year time frame of the plan, this could be realized.

VI – Budget of the Plan The estimated budget for the enrollment on e-NGAS is at P700,000. 00. The allotment for this comes from our capital outlay. For the attendance on seminars of Accounting employees and the improvement of office structure, it has an estimated cost of P150,000. 00 which could be taken as part of the maintenance and operating expenses of the university for the period.

Mar P. De Asis President Bryan V. Navaroza, CPA Head, Acct Office Rolando A. Delorino VPA Abe A. Villarino, CPA FMO Nilda C. Jumadiao President

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