OVERVIEW OF FMS

OBJECTIVES:
At the end of the session the participants are expected to be able to:

01 Define FMS; 02 Discuss the importance of

FMS;

03 Enumerate the component of FMS

Methodology: Lecturette
Time Allotted: 30 minutes
 IA FMS
is an organized set of interrelated and interdependent parts that
function together namely, - financial planning, financial
recording, and financial controlling. It was designed,
developed, and managed by the IA to sustain and maintain
financial viability.
 IMPORTANCE
foster harmonious interpersonal relationship between and among
IA leaders and members;
provide a strong foundation in attaining and sustain
entrepreneurial objectives.

make IA become a strong and contributing members of the society.

Prepare and develop sound IA financial recording

system
 IMPORTANCE
prepare financial statements as venue to communicate IA financial
status to members and other stakeholders i.e. SEC, NIA, BIR, etc.

establish an adequate and effective system of internal control