The Department of Agrarian Reform (DAR) recently conducted a three-day training on Basic Concepts of Cooperative Financial Management and Elements of the Accounting System for Cooperatives to various agrarian reform beneficiary organizations (ARBOs) in the province of Sorsogon to capacitate the farmers with basic knowledge, skills and the right attitude in managing the financial affairs of the organizations.
Acting Provincial Agrarian Reform Program Officer Felix E. Fruto said the training, through partnership with South-Luzon Federation of Cooperatives (SIDECO), would help the participants to interpret and analyze financial statements of cooperative and the basic of budgeting, investment and banking.
“This training is expected to help our cooperatives greatly improve because prior to this event, these same participants had already attended another training on Cooperative Management and Governance,” Fruto said.
Felipe A. Castillo, vice chairperson of GASANAMUDECO, which was one among the participating cooperatives, said this training is very beneficial to them because through the knowledge which the speakers headed by Sideco Chairperson Jenell P. Paghubasan had imparted, they realized that for a long time they had been observing wrong practices in financial management.
“Now that we already have the understanding, we can correct our mistakes,” Castillo added.
“We’re not just giving trainings but we would be monitoring the growth of the cooperatives in order for us to know whether DAR’s intervention has really helped them,” Fruto said.