Dairy buffalo farmers gain basic technical know-how on financial reporting

Some 60 dairy buffalo farmers gained technical know-how on basic reporting and interpretation of their respective cooperatives’ financial statement at the Philippine Carabao Center National Headquarters in the Science City of Muñoz, Nueva Ecija last June 7-8.

The seminar titled “Basic Financial Reporting and Interpretation” conducted by the PCC’s National Impact Zone (NIZ) Unit in partnership with the Business Development and Commercialization Unit (BDCU) equipped the farmers with basic financial reporting skills.

Wilma T. Del Rosario, head of the NIZ unit, added that the seminar was aimed at helping the farmers fully understand their business operations, which is only possible if they are adept at understanding their own cooperatives’ financial statements.

Meanwhile, Joshua Villanueva of BDCU said, “If the farmers can fully understand their own cooperatives’ financial statement, then they would know when to invest or divest, sell or process, and accept or reject orders.” He added that a financial statement is an important tool for farmers to deliberately monitor the status of their business.

Villanueva and Christian Gonzales of the Internal Audit Section covered the topics on financial reporting and interpretation, financial performance analysis, and cooperative internal control.

The participants were board directors and officers from the following cooperatives: Catalanacan Multi-Purpose Cooperative, Simula ng Panibagong Bukas Cooperative, Eastern Primary Multi-Purpose Cooperative, Parista Barangay Defense System Multi-Purpose Cooperative, Parcutella Multi-Purpose Cooperative, Gabay sa Bagong Pag-asa Bungo and Bongabon Dairy Producers Association, PAO Producers Cooperative, Aglipay Dairy Producers Cooperative, Nueva Ecija Federation of Dairy Carabao Cooperatives, and Caudillo Prutas at Gulay Producers Cooperative.