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Chapter 1 Introduction

This chapter presents the concepts and importance of having an accounts receivable system. It includes the definition of the problem, objectives, scope and limitations, significance of the study and definition of terms.

Introduction According to John Day, businesses nowadays are extending credit to their customers. This decision requires them to be organized in dealing with the customer’s credit account. A reliable system should be set up in order to manage these receivables. An account receivable system is used to track and manage the amount of money owed to a business by its customers. It is a system that is designed to generate computerized invoices through the receipting of generated invoices. It also has the ability to generate reports such as ledger prints, retention reports, age analysis reports, cash expected reports, and account analysis reports. The system also allows the application and tracking of receivables and collections. It can store all information of customers and all related transactions and helps in accommodating the processing of customer payments and adjustments. This study focuses on the design of this accounts receivable system that will enable Quezon's BatangasFeedmills Corporation to manage its customers’ credit accounts.

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Statement of the Problem QB Feedmills Corporation records their daily operation manually and computes and generates reports through the use of Microsoft Excel and Microsoft Word. The purpose of this study is to develop a design on accounts receivable which can be used by QB Feedmills Corporation in tracking the receivables and collections from its customers. The following are the problems that the company encounters: 1. One day spent in recording, computing and tracking of average of 10 receivables a day (8 hrs). 2. Difficulty in computing the past due accounts and interests of their clients. 3. Prone in having many errors because the company does it manually. 4. Have a hard time generating reports such as statement of accounts.

Objectives of the Project QB Feedmills Corporation has been operating for 3 years now. The company did not encounter any problem except some difficulties regarding its manual receivable system. The objectives of this project are: 1. To lessen the time in recording, computing and tracking of receivables to 20 minutes per transaction/reduce record keeping by 50%; 2. To make the computation of past due accounts and interests easier; 3. To minimize errors and; 4. To easily generate reports.

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Significance of the Study The users and beneficiaries of this project are the following: 1. QB General Manager: He would be able to check regularly the accounts of their customers and could make necessary actions pertaining to the receivables of the company. 2. Bookkeeper: Could easily distinguish the transactions of the company and could make necessary reports to be given to the board of directors and customers. 3. Board of Directors: Could have an easy access on the receivables of the company whenever they need it. They will be given more accurate information with regards to the accounts. 4. Customers: They could easily know the amount they owe to the company.

Scope of the Project This study focuses on the receivables QB Feedmills Corporation. The design of the system includes the list of credit customers and a quick access to customers information, editing programs that would be used to add, change, delete or view transactions and information in the receivables database, computation of past due accounts and its interest, and generation of detailed reports.

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Definition of Terms Accounts Receivable – trade receivables that are not evidenced by a formal agreement or note; they are usually unsecured open accounts Accounts Receivable System - is used to track and manage the monies owed to a business by its customers. Board of Directors– a body of elected or appointed members who jointly oversee the activities of a company or organization Bookkeeper – track all cash flows, billing, and lines of credit that affect their companies Feed mill - A place where animal feeds are manufactured. Manager – person responsible for planning and directing the work of a group of individuals, monitoring their work, and taking corrective action when necessary Microsoft Excel –an electronic spreadsheet program that can be used for storing, organizing and manipulating data Microsoft Word- is a software application that allows you (the user) to perform word processing Past Due Accounts - Funds receivable or payable that have not been paid in a timelymanner. Receivables – represent any legitimate claim from others for money, goods or services. Statement of account- a record of transactions and their effect on account balances over a specified period of time, for a given account

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Chapter 2 Review of related literature

This chapter presents the related literatures and studies about accounts receivable system. It also includes methodologies of research, feasibility and how the existing accounts receivable system works.

Overview of the Study The accounts receivable system is used to track and manage the amounts owed to a business by its customers. Invoices created by the order/invoicing system and the cylinder control system can be automatically posted to this module. Payments received are then posted to the receivables ledger and applied to outstanding invoices. Control journals are created each step of the way to monitor the dollars that pass through this system. Collections are improved through the use of a variable-period aging report. Service or finance charges on delinquent balances can be automatically assessed and statements printed on your letterhead stationery or custom designed forms for mailing to the customer. (Infonetics, Inc.) The accounts receivable system includes a detail billing and an invoice aging process. Invoices that were paid on the previous run are listed. The accounts are automatically updated when an account receivable is created or an invoice is paid. Because of the automatic updating of the accounts, the data entry work in the accounting system is reduced. Several processing programs, screens

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and reports make up the accounts receivable system. (data processing, BerienResa)

Methods of Research The proponents conducted an interview with the manager of QB Feedmills Corporation to arrive at an idea of what could be done to make their system efficient. The proponents also made researches with the use of internet and books.

Understanding the existing system QB Feedmills Corporation has been using a manual accounts receivable system that is used to track and manage the receivables of the company. The customer will make an order and the company will process the order of its customer and will issue receipt. Upon issuance of receipt the company will pay in cash or in terms. The salesman will be responsible for the collections and payments. The bookkeeper will process all the transactions incurred for the month and will make and generate reports to be reported and submitted to the board of directors and to the customers.

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Customers

0.0

Salesman Payments & collections Process order & bill Financial Reports

invoice Order details& payments

Quezon’s BatangasFeedmills Manual Accounts Receivable System

Validation Financial Reports Confirmation of reports
v v

Verification

General Manager B.O.D

Bookkeeper

Figure 1

Context Diagram of Existing System

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D1

Customers File bill

order Customers

Generate sales order

process order

Bill Customer

Invoice on account

payments

Collections

Accounts payable

Update Accounts Receivable Records

D2

Customers accounts File

Figure 2. Level 0 Diagram of the Existing System

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Chapter 3 Systems Analysis and Design

This chapter shows the results of the analysis. It includes the proposed data flow diagram, proposed screen and the specification of the accounts receivable system, summary and recommendations.

Understanding the proposed system The researchers have developed a system design based on the problems encountered resulting from the manual accounts receivable system. The existing system has been modified into a system that is computerized which will answer the problems identified and will create opportunities for improvement. In the proposed system, QB Feedmills Corporation will now be using a computerized accounts receivable system that will be used to track and manage the receivables of the company. The customer will make an order (through phone or walk-in) and the company will process the order of its customer using the proposed system design where the system generates the customer receipt. If the sales will be on account it will automatically be posted on the customer’s subsidiary account. The salesman will be responsible for the collections and payments. The bookkeeper will look on the receivables statement and will generate reports to be reported and submitted to the board of directors and will be sent to the customers. The advantage of having a computerized accounts receivable system is that the customers, employees and board of directors can have an easy access 9

on the receivables of the company and the errors will be minimized or will be avoided.

Data Flow Diagrams of the proposed system

Customers

0.0

Salesman Payments & collections Process order & bill Financial Reports

invoice Order details& payments

Quezon’s BatangasFeedmills Computerized Accounts Receivable System

Validation Financial Reports Confirmation of reports
v v

Verification

General Manager B.O.D

Bookkeeper

Figure 3 Context diagram of proposed system

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Credit Records
v

Customer
v

Sales Order

Credit approval

Order details

Check Credit
Amount due

A/R Subsidiary Ledger

Journal Voucher File

Receive Order

v

Approved Sales Order

Sales Order

Received and approved date

S.O Pending File

Update Accounts Receivable Accounts
A/R Summary

Open Order File
v

Order Slip

Bill Customer

Sales Journal Voucher Approved Journal Voucher

Post to GL

JV Posting Details

Sales Journal

Sales details Reviewed Stock Release

GL Records

Update Inventory Records

Product & Quantity Sold

Generate Reports

Inventory Subsidiary Ledger

Manager/B.O.D Figure 4 Level 0 Diagram of the proposed system 11

The transaction begins with a customer placing an order. The salesperson captures the necessary details on a sales order form.The transaction is authorized by obtaining credit approval by the general manager. Salesman compiles and reconciles the pertinent facts and issues an invoice to the customer and updates the sales journal. Information is transferred to:Accounts Receivable (A/R) and Inventory Control. Accounts Receivable records the information in the customer’s account in the accounts receivable subsidiary ledger.Inventory Control adjusts the inventory subsidiary ledger. Billing, Accounts Receivable, and Inventory Control submits summary information to the bookkeeper, which then reconciles this data and posts to the control accounts in the general ledger. The manager or B.O.D can generate reports based on the transaction that occur.

Entity Relationship Diagram (ERD) An entity-relationship diagram (ERD) is a model that shows that logical relationships and interaction among system entities. An ERD provides an overall view of the system and a blueprint for creating the physical data structures. (System analysis & design, 8th edition) This data modeling technique shows the

three main components of an ERD and how the relationship exists.

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Salesperson

Served by the

serves

Customer

places Made by the

Order

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Proposed Screens

Exhibit 1.0: Log-in Form exhibit 1.0 Logging in is a process by which individual's access to a computer system is controlled by identifying and authenticating the user referring to credentials presented by the user. In this form, a user can log in to the company’s system to obtain access and can then log out or log off when the access is no longer needed. This can help in safeguarding the company’s transaction

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Exhibit 2.0: Main Menu Form

exhibit 2.0 This is the main menu of the company’s system. It includes the sales, receivables, inventories, reports, products and maintenance.

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Exhibit 3.0: Accounts receivable menu

exhibit 3.0 This is the accounts receivable menu. The menu includes the edit receivables data, quick view accounts receivable inquiry, receivables inquiry, receivable journal, receivable aging, receivables statement and verify receivables data.

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Exhibit 4.0: Proposed sales invoice exhibit 4.0 This sales invoice is computer generated. This will be given to the customer as a proof that they have a transaction or order with the company. This will also be filed by the company as reference.

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Exhibit 5.0 Proposed Statement of Account

exhibit 5.0 the statement of account is computer generated. This will be given to credit customer upon collection of the receivables due from them.

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Exhibit 6.0: Proposed Inventory Sheet

exhibit 6.0 This is the inventory sheet. Because of the sales, the inventory will be affected so it is necessary to have an update on the items of the company. This will also serve as a proof that there is a sale transaction that happened.

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System requirements Specifications CPU Data Storage Operating System Software Intel Pentium Dual Core Processor 250 GB HDD Windows XP, Vista, 7 and MAC OS Visual Basic Version 6.0

The accounts receivable system version 1.0 will be using the software Visual Basic Version 6.0 for its screen design. It is compatible with operating systems such as windows XP, windows vista, windows 7, and Mac OS. It will also operate with any Intel Microprocessor running the given operating systems.

Summary and conclusion The researchers, after conducting the study on

QuezonsBatangasFeedmills Corporation’s accounts receivable system, derived the following conclusions:  In manual accounts receivable system there is a high tendency of committing human errors. It consumes more time in the computation of receivables.  The system has poor security because any one can have an access on it because the computer is not secured with password.

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QuezonsBatangasFeedmills Corporation has difficulty in processing the receivables of its customers/ clients because they are doing it manually.

Accounts receivable system version 1.0 will be helpful to the business because transactions will be done systematically.

Through the use of the proposed system, the time in recording, computing, generation of reports and tracking of receivables will be easy.

Recommendation Accounts receivable system of QB Feedmills Corporation includes making sales orders, granting credit, shipping goods to customers, recording transactions in the accounts, updating inventory records and generating sales reports. The researchers commend the use of the new system for this will be the answer to the problems encountered by the business regarding receivables transactions. The researchers recommend the use of System Development LifeCycle Waterfall Model in creating the computerized accounts receivable system of QuezonsBatangasFeedmillsCorporation.The SDLC describes the activities and functions that all system developersd perform. In the waterfall model, the result of each phase is called a deliverable or end product, which flows into the next phase. The SDLC model includes five steps, they are the following: (a) system planning, (b) system analysis, (c) system design, (d) system implementation and (e) systems support and and security.

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System Planning System Analysis System Design

System Implementation

System Support

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Appendix A Company Profile

QB Feedmills Corporation

was founded

November 2007.

It was

registered to Securities and Exchange Commission on January 02, 2008 with SEC Reg. No. CS200719969. It consists of twelve Incorporators namely Mendoza, Amado

Romano Castillo, Jo Ann Castillo, Jessie Mendoza, Vilma

Ebreo, Rowena Ebreo, Sergio Gonzalvo, Atty. Sherry Gonzalvo, Allan Aguda, Rhodora Bueno, Luis Medel Nario, and Norita Dimaculangan. These

incorporators are from the provinces of Quezon and Batangas. Its main objective is to cater the needs for quality animal’s feeds of individual and its neighboring provinces in CALABARZON. The company starts with its capital net worth of Four Million Eight Hundred Thousand Pesos. The company’s production started to a one thousand bags of fifty kilograms feeds per month. At the beginning the company’s operation is three days a week in order to reduce its operational cost. This operation operated for two months. During this period the incorporators are depressed with the outcome of the company’s operation. There are times that they want to stop the operation. On its second quarter operation the company’s start to produce three thousand bags per month of feeds. The company becomes known to the market and competitive in the industry. At present the company is producing four thousand five bags of animal feeds.

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At present the company’s assets and net worth is around fifteen million pesos and it is continuously growing through the support of the incorporators and employees. The company is committed to produce a quality animal feeds in order to help the hogs and poultry raiser to generate a productive income for the effort and time they exerted in raising the animals.

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Appendix B Feasibility Impact Grid (FIG)

PROCESS OBJECTIVES System Components Inventory Management Order Processing Order Tracking Accounts Receivable Monthly Report Daily Report MI S Speeding up a Process √ √ √ √ √ √ √ Streamlining a Process Combining Processes √ √ √ √ √ √ √ √ Reducing Errors in Input Reducing Redundant Data Storage Reducing Redundant Output Improving Integration of Systems

AIS

PROCESS OBJECTIVES System Components Inventory Management Order Processing Order Tracking Accounts Receivable Monthly Report Daily Report √ √ √ √ √ √ √ √ √ √ √ √ √ MI S Corporate Profits Competitive Strategy Cooperative Ventures Internal Operations Support Internal Decision Support Customer Service Employee Morale

AIS

Symbol Meaning √ Proposed information system component or improvement can contribute positively to the corporate objective when implemented in the future. √ Existing information system component is contributing positively to the corporate objective.

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Appendix C Feasibility Study

Technical Feasibility The proposed project is technically feasible because QB Feedmills Corporation already has a computer which is used by its manager, bookkeeper, and the cashier whenever they need to encode or to do something using the computer.

Operational Feasibility The proposed project is operationally feasible because the proponents assure that Accounts Receivable system will operate and be used once it is installed. It will also be easily used by the employees because the system is very user-friendly. The implementation of the new system will be easily handled by the employees because it will make their worker faster and easier when it comes to the recording of QB Feedmills Corporation receivables.

Economic Feasibility The project is economically feasible because the proponents have already estimated the time needed to execute the project and has already prepared the schedule of activities, QB Feedmills Corporation need not to buy a new computer since it already owns one which is compatible with the proposed system software, and the management will only pay the system designers for the installation of the accounts receivable system. 26

Cost Benefit Analysis A cost benefit analysis is used to evaluate the anticipated cost of a project compared to the total expected benefits in order to determine whether the proposed implementation is worthwhile for a company or project team. (http://www.brighthub.com/office/project-management/articles/58181.aspx)

The following table shows the total amount of expenses that will be incurred in the completion of the proposed system.

Summary of Estimated Development Cost Expense Category Documentation Data Gathering Cost Programming Installation cost Supplies User training Application Software Maintenance Package Application Software/Database Miscellaneous Total Amount 850 600 50000 2000 500 3000 8000 45000 21000 130950

Table 1. Development Cost of the Proposed System

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It expected that this project will generate benefits. The next table gives the probable future annual benefit.

Annual Estimated Benefits for QB Feedmills Corporation Benefits/Cost-Savings Savings on Purchase Cost Savings on Employment Cost Savings on Utilities Cost Savings on Supplies Total Amount 76000 12000 22000 3500 113500

Table 2. Annual Estimated Benefits of the Proposed System

The total cost and total benefit values will be compared to evaluate whether or not to continue the proposed system.

Year 1 2 3 4 5

Benefit 113,500 113,500 113,500 113,500 113,500

PVF .9091 .8264 .7513 .6830 .6210

Present Value 103,182.85 93,796.4 85,272.55 77,520.50 70,483.50

Cumulative PV 103,182.85 196,979.25 282,251.80 359,772.30 430,255.80

Table 3. Present and Cumulative Present Values of Benefits

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Payback Period is the length of time required to recover the cost of an investment.Payback period intuitively measures how long something takes to "pay for itself." It is calculated as follows:

Payback Period = ((Total Development Cost- Cumulative Present Value of lower year)/ Present Value of higher year) + year of lower Cumulative Present Value = ((130950-103,182.85)/93,796.4) + 1 = 1.30 years

Net Present Value is defined as the sum of the present values (PVs) of the individual cash flows of the same entity. It is an indicator of how much value an investment or project adds to the firm. If the NPV > 0 it means that the investment would add value to the firm then the project may be accepted or should be accepted. The NPV is computed as follows:

Net Present Value = Cumulative Present Value – Total Development Cost = 430,255.80- 130,950 = 299,305.80

After performing the cost benefit analysis, the researchers thoroughly identified and quantified all cost and benefits to determine whether the proposed system is feasible or not.

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Appendix D Project Plan This presents the project scheduling plan that will help the researchers to do the task systematically and will serve as a guide in making the project.

Time (in days)

Activities Conduct Interview Administer Questionnaires Read Company Reports Feasibility Studying Data Flow Diagramming System Designing System Requirements Plan Screen Design Total

A B C D E F G H

None None None B,E C A F,D G

1 1 1 9 13 15 8 7 55

1 1 1 7 10 12 6 5 43

Aug.20 Aug.20 Aug.20 Aug.28 Aug.21 Aug.21 Sept. 4 Sept.10

Sept. 10 Sept. 15

Date Finished Aug.21 Aug.21 Aug.21 Sept. 4 Aug.31 Sept. 2 30

Date Started

Actual Time

Must Flow

Estimated

(in days)

Task

GANTT CHART

A

B

C

D

E

F

G

H

5

10

15

20

25

30

35

40

45

50

-

Actual time Estimated time

31

PERT DIAGRAM

40 A, 1 F, 15

B, 1 10 30

D, 9 50

G, 8 60

H, 7 70

C, 1

20

E, 13

A, F, G, H (1+15+8+7) = 31 B, D, G, H (1+9+8+7) = 25 C, E, D, G, H (1+13+9+8+7) = 38- Critical Path

Conclusion: The proponents should choose the path with the shortest number of days to avoid cramming and to have a grace period for the other activities. The proponents should avoid the critical path because this path contains the longest number of days to perform the project and this is not good for the company.

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Appendix E Interview Questions These are the questions that will be used in the interview with the general manager. The researchers will use the triangle model. It follows the close to open type of questions.    Would you like to have a computerized accounts receivable system? Do you find a hard time in your manual accounts receivable system? Are there instances that you commit error in computing accounts receivable?    Are you willing to change your accounts receivable system? Do you have any problem in collecting receivables from your customer? How long does it take you to compute the accounts due during the month?    How can you correct this error? What are the problems in your existing accounts receivable system? How do the problems in your accounts receivable system affect your business?  What are your ways in collecting receivables?

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Appendix F: Project Proposal

DE LA SALLE LIPA College of Information Technology and Engineering Department of Computer Science / Information Technology / Information Systems

Proponents :

Mary Grace Q. Calizon Annah Dominique M. Dela Cruz Carmela C. Ebreo A3B Quezon’s Batangas Feedmills Corporation Accounts Receivable System Version 1.0

Section: Proposed Title:

Problems: QB Feedmills Corporation records their daily operation manually and computes and generates reports through the use of Microsoft Excel and Microsoft Word. The purpose of this study is to develop a design on accounts receivable which can be used by QB Feedmills Corporation in tracking the receivables and collections from its customers. The following are the problems that the company encounters: 1. Much time in recording, computing and tracking of receivables. 2. Difficulty in computing the past due accounts and interests of their clients. 3. Prone of having many errors because the company does it manually.

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4. Have a hard time generating reports such as statement of accounts.

Brief Overview: QB Feedmills Corporation was founded November 2007. It was

registered to Securities and Exchange Commission on January 02, 2008 with SEC Reg. No. CS200719969. It consists of twelve Incorporators namely Mendoza, Amado

Romano Castillo, Jo Ann Castillo, Jessie Mendoza, Vilma

Ebreo, Rowena Ebreo, Sergio Gonzalvo, Atty. Sherry Gonzalvo, Allan Aguda, Rhodora Bueno, Luis Medel Nario, and Norita Dimaculangan. These

incorporators are from the provinces of Quezon and Batangas. Its main objective is to cater the needs for quality animal’s feeds of individual and its neighboring provinces in CALABARZON. The company starts with its capital net worth of Four Million Eight Hundred Thousand Pesos. The company’s production started to a one thousand bags of fifty kilograms feeds per month. At the beginning the company’s operation is three days a week in order to reduce its operational cost. This operation operated for two months. During this period the incorporators are depressed with the outcome of the company’s operation. There are times that they want to stop the operation. On its second quarter operation the company’s start to produce three thousand bags per month of feeds. The company becomes known to the market and competitive in the industry. At present the company is producing four thousand five bags of animal feeds.

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At present the company’s assets and net worth is around fifteen million pesos and it is continuously growing through the support of the incorporators and employees. The company is committed to produce a quality animal feeds in order to help the hogs and poultry raiser to generate a productive income for the effort and time they exerted in raising the animals.

Beneficiaries:  QB General Manager: He would be able to check regularly the accounts of their customers and could make necessary actions pertaining to the receivables of the company.  Bookkeeper: Could easily distinguish the transactions of the company and could make necessary reports to be given to the Board of Directors and customers.  Board of Directors: Could have an easy access on the receivables of the company whenever they need it. They will be given more accurate information with regards to the accounts.  Customers: They could easily know how much the payables with the company are. -----------------------------------------FOR DLSL-CITE USE ONLY---------------------------Reviewed By: Received: Comments: ___________________________________________________________ Monette Vega - Laylo Signature Date

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________________________________________________________________ ________________________________________________________________ ________________________________________________________________

Proposed Topic is to be presented to: Panel 1: Panel 2: Panel 3:

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EBREO, Carmela C. J.P Rizal St. Poblacion IV, Tiaong Quezon 0917-504-9542 camille131992@yahoo.com.ph

I.

Education 2009- Present Bachelor of Science in Accountancy De La Salle Lipa Lipa City, Batangas

2005- 2009

De La Salle Lipa Integrated School Lipa City, Batangas

II.

Seminars Attended 2011, September 28 Updates in Important commercial & tax law jurisprudence DLSL Mabini Building, Mini-Auditorium

2011, September

Leadership Training Seminar (class officers) Diokno Auditorium, Lipa City Batangas

2011, September 12 Marketing Power Conference Seminar DLSL Sentrum, Lipa City Batangas

2011, August 29

Accounting Summit Cultural, Lipa City Batangas

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Dela Cruz, Annah Dominique M. 0751, Lodlod, Lipa City, Batangas 0917-385-1113 nikzzie_12@yahoo.com

I.

Education

2009- Present

Bachelor of Science in Accountancy De La Salle Lipa Lipa City, Batangas

2005- 2009

La Immaculada Concepcion School Pasig City

II.

Seminars Attended 2011, September 28 Updates in Important commercial & tax law jurisprudence DLSL Mabini Building, Mini-Auditorium

2011, September 12 Marketing Power Conference Seminar DLSL Sentrum, Lipa City Batangas

2011, August 29

Accounting Summit Cultural, Lipa City Batangas

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Calizon, Mary Grace Q. #13 Acacia St. Mangoville Subd., Manghinao Proper, Bauan, Batangas 0906-475-8746 mgqcalizon@yahoo.com.ph

I.

Education 2009- Present Bachelor of Science in Accountancy De La Salle Lipa Lipa City, Batangas

2005- 2009

Sta. Teresa College Bauan, Batangas

II.

Seminars Attended 2011, September 28 Updates in Important commercial & tax law jurisprudence DLSL Mabini Building, Mini-Auditorium

2011, September 12 Marketing Power Conference Seminar DLSL Sentrum, Lipa City Batangas

2011, August 29

Accounting Summit Cultural, Lipa City Batangas

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References

Books   Shelly, Gary. System Analysis and Design. 8th edition. Australia. 2010 Whitten, Jeffrey. System Analysis and Design Methods. 6 th edition. Boston. Mc Graw Hill Irwin. C2004  Valacich, Joseph S. George, Joey F. Hoffer, Jeffrey A. Essentials of System Analysis and Design. 4th edition. Pearson Prentice Hall  Robles, Nenita S. Receivables. Intermediate Accounting. Volume 1. 2010 edition.pp.103-150

Interview   Alcain, Noli. General Manager. Interview. QB Feedmills Corporation Ebreo, Rowena. End User. Interview. Ebreo-Castillo Agri Poultry Supply

Website       <http://www.infonetx.com/lit/arslit.pdf> <http://ezinearticles.com/?Accounts-Receivable-Systems&id=408569> <http://www.entrepreneur.com/encyclopedia/term/82064.html> <http://churmura.com/business/accounts-receivable-systems/27550/> <http://en.wikipedia.org/wiki/Net_present_value> <http://www.investopedia.com/terms/p/paybackperiod.asp#axzz1ZjKHcxA o> 41