SGV Cebu holds workshops and seminar on financial reporting

A total of 88 participants from various companies in Visayas and Mindanao attended two half-day workshops recently conducted by SGV Cebu. The workshops aimed to equip participants with the necessary knowledge and technical skills that will help them in their financial reporting.

Assurance Partner Dhona Señeres facilitated the discussion and hands-on sessions on the preparation of the statement of cash flows in accordance with Philippine Accounting Standards (PAS) 7, Statement of Cash Flows, while Assurance Senior Director Wanessa Salvador handled the discussion and exercises on PAS 24, Related Party Disclosures, including various regulatory requirements issued by the Securities and Exchange Commission on related party transactions.

SGV Cebu also conducted a seminar on PFRS: Changes in 2015 and Beyond, which was attended by 64 participants.

Assurance partner Benjie Villacorte introduced the new pronouncements as well as the amendments and improvements to existing standards, including interpretations of selected key topics, that took effect in 2015.

This annual update is a continuing manifestation of the Firm’s commitment to keeping business entities abreast with the amendments and additions to the accounting standards.