Philippine E-Journals

Establishing a CPA Review and Training Center in Sta. Rosa, Laguna

Danielle Jean A. Sunico | Ezra Fatima R. Gadaza | Maria Katherine G. Egos

 

Abstract:

The study plays a significant role to those individuals who aspire to become CPAs and those who are currently practicing the accounting profession. Its primary purpose was to produce competitive Certified Public Accountants and enhance the knowledge and skills of those who are already in the profession by providing extensive review and accredited trainings and seminars. The market of the study was the graduating accountancy students in various collegiate schools and CPAs whose residence or business is situated in Laguna. Adopting the substitute method and needs analysis, the study gathered relevant data through a survey among graduating students from 23 colleges in Laguna to determine the need for a review center in the province. The proponents also benchmarked in the existing competitor of the business and interviewed key persons of various review centers to be acquainted with the processes of managing a review and training center. The financial statements showed the entity’s financial position and the results of its operation for the given fiscal year. The financial ratios that test the profitability, liquidity and solvency of the business were also used to analyze the entity’s financial performance and position. To determine the financial feasibility of the business return on investment, accounting rate of return, payback period and net present value were all evaluated. Findings revealed that indeed there is a need for a CPA Review and Training Center in Sta. Rosa, Laguna. Due to the voluminous and fast-growing demand on the accounting profession and its importance to all fields of business and nation building and development, setting up a review and training center would beneficial to the national economy.