I graduated my course Bachelor of Science in Business Administration major in Accounting in Mindanao State University-Iligan Institute of Technology (MSU-IIT), Iligan City, Philippines in March 1992. I was not able to take the CPA board examination because we were
I graduated my course Bachelor of Science in Business Administration major in Accounting in Mindanao State University-Iligan Institute of Technology (MSU-IIT), Iligan City, Philippines in March 1992. I was not able to take the CPA board examination because we were financially incapable then.
A month after my graduation, I was hired as Accounting Clerk in Bollozos Trucking Corporation in Cagayan de Oro City, Philippines. Two (2) years later, in 1994, I was hired as Branch Accountant of DHL Philippines (an American Forwarding Company) to handle Iligan and Cagayan de Oro Branches. In 1996, I was hired as Branch Accountant of Consolidated Orix Leasing & Finance Corporation (a venture of Orix-Japan and former Solidbank Corp.) for Cagayan de Oro Branch until the year 2000.
In June 2000, I joined Quilab Cabilin Bato (QCB) & Co., CPA’s, an auditing firm based in Cagayan de Oro City with clients throughout the Philippines. I handle fraud and other special audits, annual audit including preparation of audited financial statements and annual income tax returns as reportorial requirement with the Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Cooperative Development Authority (CDA), National Electrification Authority (NEA), Energy Regulatory Commission (ERC), among other government offices. I become the Senior Audit Supervisor with 3-6 staff under my supervision depending on the engagement. Clients assigned to me include electric cooperatives under NEA, cooperatives under the CDA, non-governmental organizations, local and foreign grants (CORDAID, USAID, Child Fund, Terres de Holmes Netherland, etc.), private schools and foundations, savings and loans association and other local companies.
While working with QCB & Co., I also manage my own personal clients with engagements other than external auditing (preparation of annual audited financial reports). Of course, my boss is aware that I have my other personal jobs though I assure they will not contradict nor compete with QCB & Co. because I undertake mostly consultancy on accounting and tax matters, bookkeeping and other engagement except external auditing. By the way, my remuneration with QCB & Co. is 50-50 sharing based on professional fee charged to clients. To date, I still handle approximately 10% of my original clients with QCB & Co. since I prefer to spend full time with my own firm.
In 2009, I had registered my own accounting firm named: Prime Accounting Services & Consultancy. It handles various accounting and auditing services that include the following:
• Bookkeeping and financial statements preparation using Peachtree Accounting Software;
• Special engagements such as: cash audit, accounts receivable audit, fraud and other forms of specific audit, bank reconciliation, among others as per request by client;
• Accounting consultancy that includes review of the financial reports prepared by clients' bookkeepers and discuss with owners/management the results thereof;
• As part of consultancy, evaluate and determine lapses of internal control system of the company and provide findings and recommendations to clients and assist them in implementation proper control system of the company;
• Set –up, install and conduct training of Peachtree accounting software to clients’ bookkeepers and accounting staff;
• Assistance to clients pertaining to BIR, SEC, Social Security System and other matters.
• Monthly remittances of withholding taxes on compensation and income at source, value-added tax (VAT), percentage tax, SSS, Phil. Health Insurance and Home Development Mortgage Fund.
Currently, Prime Accounting has 5 regular staffs and 6 on-call staff. I personally review all the output from the staff and prepare final reports to clients for quality control purposes. I also discuss our reports to the management and/or Board of Directors/Trustees during their meetings as they may request.