A FINANCIAL AND BUSINESS MANAGEMENT TRAINING AND MENTORING PROGRAM

FOR BUSINESS STUDENTS AND MSMEs OWNERS

SECTION A. BASIC INFORMATION OF THE PROPONENT

Designation in the
TRAINING PROGRAM TEAM Faculty Rank
Project
Name: Atty. Michael B. Bongalonta, CPA, DBA Sorsogon State
Project Leader /
Contact Number: 09190090048 University
Resource Speaker /
Email Address: [email protected] Facilitator
Associate
Professor III
Sorsogon State
Name: Michelle M. Bongalonta, CPA, MBA Component Leader 1 /
University
Contact Number: 09171133658 Resource Speaker/
Assistant
Email Address: [email protected] Facilitator
Professor II
Name: Celeste T. Yanzon, LLB, DBA Component Leader 2 /
CBMA Dean,
Contact Number: Resource Speaker/
UST-L
Email Address: Facilitator
Name: Jiddeh N. Selda, MBA Component Leader 3 /
CBMA Faculty,
Contact Number: Resource Speaker/
UST-L
Email Address: Facilitator

SECTION B. INFORMATION ON THE PROJECT PROPOSAL

1. General Information of the Projects

A. COMPONENT PROJECT 1

Project Leader / Speaker: Atty. Michael B. Bongalonta, CPA, DBA, JD

Component Leader / Speaker: Michelle M. Bongalonta, CPA, MBA
Member / Facilitator: Celeste T. Yanzon, LLB, DBA
Member / Facilitator: Jiddeh N. Selda, MBA

Project Title Basic Training on Business Tax Compliance, Accounting for

Non-Accountants, and Compliance with Business Registration
and Reportorial Requirements.

Project Timeline/ Duration April 2024 to June 2024

Project Site / Project Location Virtual Training via Zoom

Type/Nature of Target Beneficiaries Business Students and MSMEs Owners

(specify)

Implementing Partner LBC and other Regulatory Agencies

Amount of Partner Agency Funding Under Negotiation. This must be equal to the actual costs to be
incurred to implement the project.

B. COMPONENT PROJECT 2

Project Leader / Speaker: Atty. Michael B. Bongalonta, CPA, DBA, JD

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Training Program for Business Students and Owners
 Component Leader / Speaker: Jiddeh N. Selda, MBA
Member / Facilitator: Celeste T. Yanzon, LLB, DBA
Member / Facilitator: Michelle M. Bongalonta, CPA, MBA

Project Title Training on the Basics of Financial Management, Product

Pricing, and Product Design and Product Costing

Project Timeline/ Duration July 2024 to September 2024

Project Site / Project Location Virtual Training via Zoom

No. and Type/Nature of Target Business Students and MSMEs Owners

Beneficiaries (specify)

Implementing Partner LBC and other Regulatory Agencies

Amount of Partner Agency Funding Under Negotiation. This must be equal to the actual costs to be
incurred to implement the project.

C. COMPONENT PROJECT 3

Project Leader / Speaker: Atty. Michael B. Bongalonta, CPA, DBA, JD

Component Leader / Speaker: Celeste T. Yanzon, LLB, DBA
Member / Facilitator: Michelle M. Bongalonta, CPA, MBA
Member / Facilitator: Jiddeh N. Selda, MBA

Project Title Training on Marketing and Entrepreneurship, and Power

Play: The Intersection of Politics and Business

Project Timeline/ Duration October 2024 to December 2024

Project Site / Project Location Virtual Training via Zoom

No. and Type/Nature of Target Business Students and MSMEs Owners

Beneficiaries (specify)

Implementing Partner LBC and other Regulatory Agencies

Amount of Partner Agency Funding Under Negotiation. This must be equal to the actual costs to be
incurred to implement the project.

2. Project Background and Rationale

Context and The proposed Financial and Business Management Training and Mentoring Program
Background for Business Students and MSMEs Owners aims to address the lack of financial and business
management skills among aspiring entrepreneurs and small business owners. This program is
designed to provide participants with the necessary knowledge and tools to manage their finances,
navigate regulatory requirements, and develop their businesses.The program is divided into three
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Training Program for Business Students and Owners
 components, each focusing on a specific aspect of financial and business management. Component
1 will cover business tax compliance, accounting for non-accountants, and compliance with
business registration and reportorial requirements. This component will help participants
understand their tax obligations, prepare financial statements, and ensure compliance with
regulatory requirements.

Component 2 will focus on the basics of financial management, product pricing, and
product design and product costing. This component will help participants understand how to
manage their finances, price their products competitively, and calculate product costs accurately.
Component 3 will cover marketing and entrepreneurship, as well as the intersection of politics and
business. This component will help participants develop marketing strategies, understand the
political landscape in which they operate, and navigate the complex relationship between politics
and business.

The program will be delivered virtually via Zoom to ensure accessibility for
participants from different locations. The program will be implemented in partnership with LBC
and other regulatory agencies, who will provide funding for the project. The funding will cover the
actual costs incurred during implementation. The program is expected to benefit both business
students and MSMEs owners by providing them with the necessary skills to manage their finances,
navigate regulatory requirements, and develop their businesses. This program will also help bridge
the gap between academic theory and practical application in real-world situations. By providing
participants with practical skills that they can apply in their businesses, this program will
contribute to the growth of MSMEs in the region and promote economic development.

3. Project Goals A. Goals:

and Objectives
1. Component Project 1: Basic Training on Business Tax Compliance, Accounting for Non-
Accountants, and Compliance with Business Registration and Reportorial Requirements

a. Goal 1: To provide business students and MSMEs owners with a fundamental understanding
of business tax compliance, accounting principles for non-accountants, and the necessary
requirements for business registration and reporting.
b. Goal 2: To enhance the participants' knowledge and skills in these areas to promote
compliance with tax laws, accounting standards, and business registration requirements.
c. Goal 3: To foster a culture of tax compliance and good governance among business students
and MSMEs owners through this training program.

2. Component Project 2: Training on the Basics of Financial Management, Product Pricing,

and Product Design and Product Costing

a. Goal 1: To impart the participants with essential financial management skills, including
financial planning, budgeting, cash flow management, and financial analysis.
b. Goal 2: To teach participants how to determine product pricing based on various factors such
as cost of goods sold, profit margins, competition, and customer demand.
c. Goal 3: To educate participants on product design and product costing principles to help them
create high-quality products at a reasonable cost.

3. Component Project 3: Training on Marketing and Entrepreneurship, and Power Play:

The Intersection of Politics and Business

a. Goal 1: To provide participants with a comprehensive understanding of marketing principles,

including market research, target audience identification, branding, advertising, sales promotion,
and public relations.
b. Goal 2: To teach participants how to start and manage their own businesses by providing them
with an overview of entrepreneurship concepts such as business planning, financing options, legal
structures, and risk management.
c. Goal 3: To explore the intersection of politics and business by discussing the impact of politics
on the business environment and strategies for navigating political risks in doing business in the
Philippines.

B. Objectives:

Component Project 1: Basic Training on Business Tax Compliance, Accounting for Non-
Accountants, and Compliance with Business Registration and Reportorial Requirements

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 a. Objective 1: At the end of the training program, participants will be able to explain the basic
concepts of business tax compliance, including income tax, value-added tax (VAT), documentary
stamp tax (DST), percentage tax (PT), donor's tax (DT), estate tax (ET), gift tax (GT), capital
gains tax (CGT), local taxes (LT), environmental taxes (ET), customs duties (CD), excise taxes
(ET), special taxes (ST), deficiency taxes (DT), penalties (PEN), surcharges (SCR), interest
charges (ICH), and other related taxes imposed by the taxation authority.

b. Objective 2: Participants will be able to prepare basic financial statements such as income
statements, balance sheets, cash flow statements, statement of changes in equity (SOCE),
statement of retained earnings (SORE), statement of sources and applications of funds (SSAF),
statement of changes in financial position (SOCFP), statement of cash flows from operating
activities (SOCFOA), statement of cash flows from investing activities (SOCFIA), statement of
cash flows from financing activities (SOCFFA), statement of accounting policies changes
(SAPCC), statement of accounting policies implementation (SAPCI), statement of accounting
policies amendment (SAPCAM), statement of accounting policies discontinuance (SAPCDISC),
statement of accounting policies suspension (SAPCSUSP), statement of accounting policies
termination (SAPCTERMNATION), statement of accounting policies revocation
(SAPCREVOCATION), statement of accounting policies reinstatement
(SAPCREINSTATMENT), statement of accounting policies restoration (SAPCRESTORATION),
and statement of accounting policies replacement (SAPCREPLACEMENT).

c. Objective 3: Participants will be able to understand the requirements for registering a new
business or renewing an existing.

Component Project 2: Training on the Basics of Financial Management, Product Pricing,

and Product Design and Product Costing

a. Objective 1: At the end of the training program, participants will be able to apply financial
management principles to manage their small businesses effectively, including financial
planning, budgeting, cash flow management, and financial analysis. They will learn how to
prepare financial statements such as income statements, balance sheets, and cash flow
statements.

b. Objective 2: Participants will be able to determine the optimal price for their products based
on various factors such as cost of goods sold (COGS), profit margins, competition, and
customer demand. They will learn how to conduct market research to understand their target
audience's preferences and pricing strategies.

c. Objective 3: Participants will be able to design and develop high-quality products at a

reasonable cost by applying product design and product costing principles. They will learn
how to calculate the total cost of producing a product, including direct materials, direct
labor, indirect materials, indirect labor, and overhead expenses.

d. Objective 4: Participants will be able to apply these skills to their own small businesses by
developing financial plans, setting prices for their products, and designing and costing new
products. They will also learn how to analyze financial statements and make informed
business decisions based on financial data.

e. Objective 5: Participants will be able to identify common financial challenges faced by small
businesses in the Philippines, such as cash flow management, access to financing, tax compliance,
and regulatory requirements. They will learn strategies for overcoming these challenges and
growing their businesses sustainably.

Component 3: Training on Marketing and Entrepreneurship, and Power Play: The

Intersection of Politics and Business

Objective 1: To provide business students and MSMEs owners with a comprehensive

understanding of marketing principles and strategies that will enable them to effectively promote
their products or services, identify target markets, and develop marketing plans.

Objective 2: To equip business students and MSMEs owners with the necessary entrepreneurial
skills and knowledge to start, manage, and grow their businesses successfully. This includes topics
such as business planning, financial management, operations management, and risk management.

Objective 3: To explore the intersection of politics and business, and how political factors can
impact business operations and decision-making. This will include discussions on government
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 policies, regulatory frameworks, and political risks that businesses may face.

Objective 4: To provide practical training and case studies that will enable participants to apply the
concepts learned during the program in real-world situations. This will include interactive
sessions, group discussions, and hands-on exercises.

Objective 5: To foster networking opportunities among participants, as well as with industry

experts and regulatory agencies, in order to facilitate knowledge sharing, collaboration, and
mentorship.

Objective 6: To promote the development of MSMEs as a key driver of economic growth and job
creation in the country, by providing them with the necessary skills and resources to succeed in a
competitive marketplace.

Objective 7: To contribute to the overall goal of promoting entrepreneurship education in the

country, by providing high-quality training programs that are relevant, practical, and accessible to
a wide range of learners.

RESULTS FRAMEWORK

Goal Outcome Indicator (Project’s Key Activities (Defined Key Output/s /

(Long term Components) based on the Indicators
Objectives) problems and (No. of / % Increase)
challenges identified) Measurable Results of
activities and
progress towards
outcomes
Empower MSMEs  To empower MSMEs owners Basic Training on 80% of the participants
with the knowledge with a deep understanding of the Business Tax had improve
and skills necessary to provisions, implications, and Compliance, knowledge on tax
make informed strategies related to the TRAIN Accounting for Non- compliance, reportorial
financial decisions Law, fostering a culture of Accountants, and requirements, and can
and manage their informed tax compliance and Compliance with record transactions and
finances effectively responsible financial decision- Business Registration prepare financial
through making. and Reportorial statements
comprehensive Requirements.
financial literacy  To equip the MSMEs owners
training and with essential accounting
mentoring program. knowledge and skills, enabling
them to under-stand, interpret,
and apply basic
accounting/recordkeeping
effectively in their business.

 To gain insights into best

practices and strategies for
streamlining and optimizing
compliance processes, efficient
and cost-effective.
 Empower individuals and Training on the Basics 80% of the participants
organizations with the skills, of Financial can create a periodic
knowledge, and mindset needed Management, Product budget for their
to navigate the complex Pricing, and Product business, and can
financial landscape, make sound Design and Product design costing and
decisions, and achieve sustained Costing pricing strategy for
financial success over time. their product/services
 Empower participants with the
knowledge, tools, and strategic
mindset needed to set and adjust
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Training Program for Business Students and Owners
 prices in a way that supports
long-term business growth,
profitability, and customer
satisfaction.
 To develop a comprehensive
understanding of the principles,
methods, and techniques used to
accurately determine the costs
associated with producing goods
and services
 To have deeper understanding of Training on Marketing 80% of the participants
key marketing concepts and and Entrepreneurship, can develop a
entrepreneurial strategies and Power Play: The marketing strategy and
relevant to their businesses. Intersection of Politics can incorporate
 To gain understanding of how and Business political aspects into
political dynamics, policies, and their planning
regulations impact MSMEs. processes

4. Project Application Effectiveness

How does the project contribute to the local development plans / regional / national in relation to addressing
challenges cited?
This program will seek inputs from the respective beneficiaries. Inputs include all the relevant
information including the common problems encountered by the small-scale business owners that will be the
basis of designing the lecture materials. Cooperation from the beneficiaries and all other stakeholders is also
necessary in order to carry out the objectives of this program.
As a result, enhancing the basic knowledge of the business owners about accounting, financial
management and taxation, though this extension program, will greatly help them improve its internal controls
and system. Thus, securing the sustainability of the business operations that would consequently contributory to
the local, regional and natural development plans of the province.

What are the strategies you will use to attain the major output?
1. Design a comprehensive training program where the topics, hours of training and resource speakers are
identified;
2. Prepare training materials/ modules for each topic in the training sessions;
3. Designate resource speakers to each topic;
4. Conduct a coaching session after every training; and
5. Evaluate the effectiveness of the training through a conduct of a research.

Partner Agency: What are their roles and contributions?

1. Submit the letter of request stating the services that they need thru extension services of the identified
skills and to pursue this program and provide reports prior to the conduct of the project plan;
2. Lead in the program design, cascading down the projects / activity plan based on the stipulated
objectives in Article II and the subsequent schedule of implementation thereof;
3. Assist / Identify the participants or recipients of the project based on the agreed schedule;
4. Provide financial assistance to shoulder the food of the trainers and clientele, honoraria (if necessary);
materials and equipment and other miscellaneous expenses necessary in the implementation of the
program;
5. Assist in the monitoring of the attendance of the extension implementors and the participants / clientele
of the project;
6. Support the implementation plan, monitoring, evaluation and feed backing of every project conducted
in line with the program
7. Regularly coordinate with LBC and organize a meeting to convene and discuss matters in line with the
project accomplishments and terminal report and the future plans of the program;

5. Project Implementation Plan (May use quarterly for long term program/project)

Period 1 Period 2 Period 3

Key Activities/
1 2 3 4 1 2 3 4 1 2 3 4
Workplan
Pre-Launching
1. Planning and
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 Meeting
2. Drafting of Training
Materials
3. Conduct of Pre-
Assessment
Training Needs
Assessment and
Discuss result of the
TNA to partner
agency /participants
3. Gather baseline
data/profile of the
participants
Launching
1. Launching of
Project
2. Signing of MOA
Implementation
Phase
1. Conduct of
Trainings/Mentoring
Component
project 1
Training
Accounting for Non-
Accountants
Basic Training on
Business taxation
Compliance with
Registration and
Reportorial
Requirements
Mentoring
Accounting for Non-
Accountants
Taxation
Compliance with
Registration and
Reportorial
Requirements
Component
project 2
Training
Training on the
Basics of Financial
Management
Product Pricing
Product Design and
Product Costing
Mentoring
Financial
Management
Product Pricing
Product Design and
Product Costing
Component
project 3
Training
Training on
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 Marketing and
Entrepreneurship
Power Play: The
Intersection of
Politics and
Business
Mentoring
Marketing and
Entrepreneurship
Politics and
Business
2. Evaluation of
Training
Pre- and post-
training
assessments
3. Provision of
Certificates to
Participants who
pass the post
training
assessment.
Project Monitoring
and Assessments
Quarterly monitoring
and assessment
through survey
Over-all Evaluation
of Activity
Research on the
impact of the
extension project
Project Closure
Program for Closing
the Extension
Project
Feedbacking and
Turn- Over
Activities

6. Project Sustainability Plan

The LBC and Partner Agencies will implement measures to effectively monitor the status of the program
after its implementation. As monitoring strategy, the LBC will continuously look into the needs of small-scale
businesses and improve the design of the lecture materials and the like to address the concerns of the target
beneficiaries.

SECTION D. Budgetary Requirement

PARTICULARS Qty Unit AMOUNT SSC Share Partner
Agency Share
A. PERSONNEL Under Under Under Under Under
SERVICES Negotiation Negotiation Negotiation Negotiation Negotiation
(Honoraria)
1. Project Team
Leader
2. Project
Coordinator
3. Trainer
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 4. Consultant
5. Guest Resource
Speakers
SUBTOTAL
:
B. SUPPLY &
MATERIALS
Under Negotiation Under Under Under Under Under
Negotiation Negotiation Negotiation Negotiation Negotiation
SUBTOTAL
:
C. Travel Expenses
Under Negotiation Under Under Under Under Under
Negotiation Negotiation Negotiation Negotiation Negotiation
SUBTOTAL
:
D. Food &
Accommodation
Under Negotiation Under Under Under Under Under
Negotiation Negotiation Negotiation Negotiation Negotiation
SUBTOTAL
:
TOTAL: Under Under
Negotiation Negotiation

Submitted by:

ATTY. MICHAEL B. BONGALONTA, CPA, DBA

Program Leader

CELESTE T. YANZON, LLB, DBA

Member

MICHELLE M. BONGALONTA, CPA, MBA

Member

JIDDEH N. SELDA, MBA

Member

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