Webinar Series: Part 2

It’s Friday again for Strategy and Strategic Planning as we continue our webinar series today, March 12, from 2:00PM-5:00PM UAE time via Zoom.

Our speaker, Sir Johann V. Salangsang, started with a recap of the topics discussed last Friday and began his presentation with Five Forces Analysis (Porter). The participants were also able to gain more understanding about Competitive Intelligence, Macro Environment, PESTEL Analysis, SWOT Analysis (and the importance of honesty) and TOWS Analysis and their focus environments, B-I-C-E, Type of Competitive Advantage being pursued, Hierarchy of Strategies and many others.

One of the importance of strategy can be realized from these lines:

“Good strategy making is inseparable from good business entrepreneurship. One cannot exist without the other”.

Sir Johann also emphasized the role of accountants and encourage everyone to evaluate our skills, increase value, deliver insights and advance our career. According to him, “If you know the process, you have something to say”. To close the webinar, he shared his favorite quote “Strategy facilitates winning. Winning and success is rarely a random process.”

It was indeed another successful learning session for PICPAns and we hope that we can all apply the lessons today not only for work but most importantly for improving ourselves.

Thank you to all the participants who joined and finished the two-Friday webinar series. Special thanks to our speaker, Sir Johann Salangsang, to our supportive past presidents and partners, PICPA officers headed by our President Ms. Angel Alulod, our hosts – Ms. Mildred Mumar, Mr. Joseph Bitong and Ms. Rocsan Cuarez, our moderator – Mr. Alvin Calledo, our tech expert – Ms. Jerrie Mae Conde, Ms. Monica Encarnacion, our Executive Vice President – Ms. Haydee Reyes and to all officers working behind the scene.

Again, thank you and see you on our next event!

To God be the glory!

Webinar Series: Strategy and Strategic Planning (Part 1)

It’s another Friday of learning for PICPAns as we start the webinar series of Strategy and Strategic Planning today, March 5, from 2:00PM – 5:00PM UAE time.

The main goal of the webinar is to understand the basics of strategy, explore the components of strategic management system, strategic planning and how can Accountants contribute to strategy-making process of an organization.

Our speaker, Sir Johann V. Salangsang, began his presentation with the PICPA National theme “Filipino CPAs Rising in Solidarity Amidst Challenging Times” giving emphasis on the 6-point agenda on RISING: Recovery programs, In-house programs, Social responsibility programs, International programs, New programs and on-Going programs. He then asked the participants to key in their ideas about strategy using menti.com. Some of the answers are plan, technique, vision, formulation, action, roadmap, goals, objective, systems and many others.

The three-hour webinar gives a clearer and deeper explanation regarding strategy, the components of strategic management system, the building blocks of strategy, strategic planning process and strategy formulation process and understanding competitive advantage.

This is only the first part of our two-Friday webinar series. We hope that by the end of the session, we’ll be able to answer these two questions: Do you really want to do it? Can you do it?

Thank you to everyone who joined today. See you again next Friday.

God bless and enjoy the rest of the weekend!

-KCG

IFRS Updates “What’s New?”

Fresh from the Zoom webinar, PICPA Abu Dhabi and PICPAns from the Philippines joined today, February 19, 2021 from 1PM – 3PM UAE time to learn about the International Financial Reporting Standards (IFRS) updates.

It was a Friday well spent as Sir Reynaldo R. Ocampo, CPA, MBA gave an informative session on the amended standards (and the amendments) effective in 2021 and beyond.

To kick off the discussion, poll questions were given to check the participants knowledge about IFRS which were later answered and explained by our resource speaker.

Sir Rey started his lecture with trivia questions about the last IFRS, International Accounting Standards (IAS) and International Financial Reporting Interpretations Committee (IFRIC) issued. The answers were IFRS 17 Insurance Contracts issued on May 2017, IAS 41 Agriculture December 2000 and IFRIC 23 Uncertainty Over Income Tax Treatments June 2017.

Throughout the webinar, Sir Rey discussed the amended standards (and the amendments) regarding the following:

· Amendments to IAS 16, Property, Plant and Equipment –

Proceeds before Intended Use (issued May 14, 2020)

· Amendments to IAS 37, Onerous Contracts –

Cost of Fulfilling a Contract (issued May 14, 2020)

· Amendments to IAS 1, Classification of Liabilities as

Current or Non-current (issued Jan. 23, 2020)

· Amendments to IAS 1, Disclosure of Accounting Policies

(issued Feb. 12, 2021)

· Amendments to IAS 8, Definition of Accounting Estimates

(issued Feb. 12, 2021)

· IFRS 17, Insurance Contracts

Also, he showed the International Accounting Standards Board (IASB) Standard-Setting Process and talked about the ongoing projects.

The two-hour session was indeed very helpful to all participants.

Again, thank you Sir Rey for the updates and spending your time with us and special mention to Ms. Krizel Kaye Asi and Mr. Ronnel Fernando - our hosts for today, Ms. Mildred Mumar – our moderator, Ms. Celeste Medrano – for the opening prayer, PICPA Abu Dhabi’s President Ms. Maria Angelica Alulod, our chapter’s Executive Vice-President Ms. Loida Haydee Reyes, Ms. Jerrie Mae Conde for the technical and to the officers working behind the scene. A big thanks also to our past presidents and partners for supporting this event. To all participants, we hope you gained a lot from this webinar and thank you for joining us. See you on our next event.

To God be the Glory!