BDO Unibank, Inc.

(Bangco De Oro)
BDO Unibank, Inc. is a full-time service universal bank that continued its
services to the Filipino people for over 46 years, also known as one of the largest
bank in the Philippines that is based in Mandaluyong and 15th largest bank in
Southeast Asia as of March 31, 2016 (Agcaoili, 2016). BDO Unibank, Inc. provides
products and services to the retail and corporate markets, including lending
(corporate, middle market, SME, and consumer), deposit-taking, foreign exchange,
brokering, trust and investments, credit cards, corporate cash management and
remittances. Through its subsidiaries, the bank offers leasing and financing,
investment banking, private banking, bancassurance, insurance brokerage and
stockbrokerage services. BDO has a total of 1,434 branches and 4,466 ATMs as of
2016 that made them to be the largest distribution network in the country.

The key to BDO's successful business relationships with customers is its

value-added products and services as well as its institutional strengths. As a sales-
and customer-focused force, its branches remain at the forefront of setting high
standards. BDO is also committed to deliver products and services that surpass
customer expectations in value and every aspect of customer services, while
remaining to be prudent and trustworthy stewards of their wealth.

They use branches through financial accounting, which uses records,

summarizes, and shows the financial transactions of its business done through
financial statements. The preparation and fair presentation of the financial
statements in accordance with PFRS are the responsibility of management, as well
as any internal controls that management considers necessary to ensure that the
financial statements are free from material misstatement, whether due to fraud or
error. In preparing the financial statements, management is responsible for
assessing the BDO Unibank Group’s ability to operate as a going concern while
producing the financial accounts. Gives enough details about the company so that
people can determine the value of the company for themselves.

In terms of the branches of accounting, the bank uses auditing because the
company and the bank provide relevant, honest, and dependable information about
them. Their budget reports work on their believability.

Accounting branches are most crucial to companies, especially to banks, in

order to keep track of their information efficiently. Most of the accounting branches
also follow a standard, the Generally Accepted Accounting Principles (GAAP), as
they pave the way for companies to have a harmonious process in terms of
managing their financial transactions (Sharma, 2023). Aside from financial, and
auditing accounting, there are many more branches, all of which emerged based on
the types of accounting information needed by different entities (Neha, 2022). With
the use of branches of accounting, it is easier to discern the financial direction of the
organization and the type of accounting service that they require to operate
successfully. Determining the right branch for an entity will help in measuring and
evaluating the outcomes of economic activities within the company.
Members:

1. Hannah Andrea Abuela

2. Nikka Apit

3. Bevegel Llido

4. Jay Rald Calanday

BSA - 1 // CFAS Assignment #1