FY 2007 - 2008: 3rd and 4th Quarter

“ Father, may everything we do begin with your inspiration and continue with your saving help. Let our work always find its origin in you and through you reach completion. “

Our Father’s blessings never fail as we see the successful accomplishment and completion of the various plans, projects and activities of EMMC for the second half of our PICPA FY 2007-2008.

PICPA EMMC sponsored and conducted a total of thirteen (13) seminars from January to June of 2008, attended the annual PICPA convention and MMR international conference, participated in the MMR Regional Tax Conference, participated in three (3) significant community and social involvement projects , sponsored another benefit concert and had achieved the high record of 28 % membership growth for the fiscal year.

EMMC started the year 2008 with our monthly Board meeting. Plans and programs for the remaining half of the FY was thoroughly discussed to achieve our goals. Our January birthday celebrants included Dean Antonio A.M. Aledo, Chairman for Publications Committee, Mr. Erick Olonan, Chairman for the Social Involvement Committee and Ms. Lea Veronica T. Recomite, Co-Chair for the Fellowship, Sports and Special Project Committee.

A whole day seminar on Common Issues on Local Business Taxes was held at the PICPA Training Room on January 18, 2008 with Ms. Felicidad R. Apolonia as the resource speaker. There were 40 attendees to the said seminar.

On January 19, 2008, EMMC together with the other MMR Chapters executed their Livelihood Project on Meat Processing and Adopt - a - Child Project at the Daughters of St. Francis de Sales in Las Piñas City.

On January 23-24, 2008, the well attended 2008 1st MMR Tax Conference was held at the Ballroom, Hotel Intercontinental, Makati with guest speakers WMMC President Iry Icaranom, Dr. Ruperto Somera, Atty. Rolando Ligon, Jr, Hon. Gregorio Cabantac, Atty. Vicky Reynante of BIR National Office, Hon. Vicky and CTA Commissioner, Hon. Justice Juanito C. Castañeda, Jr. There were 173 attendees who interestingly participated in the whole day seminar.

On January 30, 2008, the Memorandum of Agreement between Nitram Entertainment Productions and EMMC for the Love to Laugh Concert was signed. Again, the proceeds of this concert would be for the benefit of our Feed A Child Project in PICPA GK Village in Montalban, Rizal.

A two-day seminar was given on February 4-5, 2008 on the topic “Preparation of 2007 Notes to Financial Statements based on the New GAAP (IFRS/PFRS). This was conducted by Dr. Rosalinda D. Evangelista at the PICPA Training Room with 145 attendees.

On February 15, 2008, a seminar on “Risk-Based Audit and Risk Management “ was conducted by Mr. Joseph Ian Canlas and Mr. Joseph G. De Dios at the PICPA Training Room. There were 42 successful attendees to the seminar.

Our EMMC Chapter Officers and Board of Advisers accomplished its Livelihood Project – Meat Processing at Culiat Livelihood Training Center on February 16, 2007 with resource speaker, Ms. Ma. Teresita Z. Dimaculangan lively teaching the basic procedures for meat processing.

EMMC’s post valentine comedy concert, Love to Laugh featuring Vice Ganda and other guest artists happened on the evening of February 22, 2008, at the Bagaberde, Pasig City. The event was filled with the overwhelming support of the Officers, members, clients and friends not only from the EMMC but also from the other three (3) chapters of PICPA Metro Manila Region, namely the SMMC, WMMC and the NMMC. Our deepest gratitude to ALL who attended and supported the Love to Laugh concert , the proceeds of which was intended for donation to the EMMC’s “Feed a Child “ project for the benefit of the PICPA GK Village Montalban, Rizal’s malnourished children.

On February 26, 2008, a seminar was given to BIR Officers and examiners on the topic, “ Updates on the Tax Implications of the New IFRS.” It was conducted by Punongbayan & Araullo’s Partners, Ms. Mailene Sigue-Bisnar and our very own, EMMC’s Regional Sectoral Representative for Public Practice Ms. Marivic Españo and was held at the Conference Romm of BIR Revenue District # 7, Quezon City with 148 attendees. Our deepest appreciation to BIR Acting RDO, Atty. Marina de Guzman for her full support and participation on the said seminar.

EMMC celebrated the birthday of Ms. Ma. Luisa B.Villacorta, past EMMC President, Adviser and Chairwoman for the COMELEC Committee in its February Board Meeting.

EMMC’s Chair on Professional Development, the untiring and ever efficient, Mr. Henry Tan continuously conducted his committee’s monthly seminars. On March 3-4, 2008, a two-day seminar on the topic “Preparation of 2007 Notes to Financial Statements based on the New GAAP (IFRS/PFRS) was again conducted by Dr. Rosalinda D. Evangelista at the PICPA Training Room with 47 attendees.

On March 5, 2008, EMMC realized its objective of updating and enhancing the professional development, leadership skills and spirituality of our CPAs thru our Chapter’s General Membership Meeting and Seminar, which was held at the Ballroom of Hotel Intercontinental, Makati City with 82 attendees.

In the morning technical session, a half-day seminar on “Basic IFRS Commonly Misunderstood and PFRS and Tax…Reconciled? “ was conducted by Mr. Roderick Danao, Partner of Isla Lipana & Co, and Atty. Malou P. Lim, Tax Partner of Isla Lipana & Co. The luncheon guest speaker was no other than the smart and charming Mayor of Marikina, Hon. Maria Lourdes C. Fernando, who discussed the topic, “ Leadership and Transformation. “ One will see great admiration in the eyes of the audience as they listen to the Honorable Mayor as she vigorously and enthusiastically delivered her message. In the afternoon session, Rev. Fr. Domie Guzman, SSP, author of CMMA award winning book, “New Every Morning” remarkably talked on the topic “Spirituality at Work / Living Life to the Fullest” and Atty. Antonio P. Acyatan, Chairman of A.P. Acyatan & Co., shared his inspiring life’s story in his “Response and Witnessing of A Professional” to Rev. Fr. Guzman’s topic.

On March 6-7, 2008, a two-day seminar on the topic “ Proper Presentation of Financial Statements and Significant Accounting Policy/ies together with Schedules” was conducted by Mr. Rhamir C. Dalion at the PICPA Training Room. There were 63 attendees to the seminar.

On March 13-14, 2008 another two-day seminar was conducted by Mr. Rhamir Dalioan for “Philippine Standards on Auditing” held at the PICPA Training Room with 41 attendees.

On March 19, 2008, a seminar on “Code of Ethics” was conducted by Atty. Eranio L. Punsalan. Another seminar on “Corporate Governance” was also held on the same day. It was conducted by Dr. Rosalinda D. Evangelista. The seminar were held at the PICPA Training Room and was attended by 52 participants.

On March 26, 2008, in behalf of our four (4) MMR Chapters, our very own, indefatigable MMR Administrative Officer, Ms. Fanny Madraga attended the Culiat Recognition Day for our fourteen (14) high school scholars who graduated from Culiat High School. Two (2) of our scholars graduated with honors and three (3) signified their interest in taking up the BS in Accountancy course in college.

On March 30, 2008, the EMMC’s 2nd Fund Raising Golf Tournament in cooperation with the United Architects of the Philippines was held at the Camp Aguinaldo Golf and Country Club. This fund-raising activity, spearheaded by Social Involvement Committee Chair, Mr. Erick Olonan., was also for the benefit of our Feed a Child Project at the GK, PICPA Village in Montalban, Rizal.

Our April birthday celebrants were Mr. Rommel Agasang, VP for Membership, Mr. Gerry Sanvictores, past EMMC President, past MMR Chair and Adviser and Ms. Geraldine Apostol, President-elect.

On April 21, 2008, great joy overwhelmed our Chapter when we received a letter from the PICPA National Chair on Committee on Geographical Areas, Regions, Chapters and Affiliates (GARCA) Mr. Eduardo C. Cuenca, informing us that the PICPA National Board of Directors, upon the recommendation of GARCA, has unanimously chosen our chapter, the EMMC as Awardee for Most Outstanding Chapter (Category A) for the FY 2007-2008.

Likewise, since this year was our 10th year as being a Most Outstanding Chapter Awardee, we will also be conferred the Hall of Fame Award for the FY 2007-2008.

Thus, on April 30-May 2, 2008, the 62nd PICPA Annual National Convention was held at Baguio Convention Hall, Baguio City. EMMC Board of Directors, Officers, Chairpersons, Advisers and members triumphantly and excitedly attended this victorious event and received the Most Outstanding Chapter and Hall of Fame Awards on May 2, 2008.

In the same breadth, we were very happy to witness the awarding of our very own, EMMC Past President Gerry Sanvictores as Most Outstanding PICPA Member and EMMC former Officer and ACPAPP Past President Judith Lopez as Outstanding CPA in Public Practice. Our nominee for the Hall of Fame Award, University of the East Chairman Panfilo O. Domingo was given the PICPA Distinguished Achievement Award.

On May 12-13, 2008, a two-day seminar on PFRS/PAS Trends and Updates was conducted by Dr. Rosalinda D. Evangelista at the PICPA Training Room with 48 participants.

EMMC’s meeting and fellowship and thanksgiving blow-out was held last May 15, 2008 at the Red Box, Trinoma. After the exciting presentation of the trophies and citation for EMMC’s Most Outstanding Chapter and Hall of Fame Awards awards, the Officers sung their hearts out with the latest songs and celebrated EMMC’s accomplishments for the FY 2007-2008.

The 5th MMR International Conference on Cruise “ Asian Super Star Cruise-Singapore” ” was held last May 17-22, 2008 with the theme “ Beyond Accounting On Board …Singapore…Penang & Phuket ”. Again, EMMC Board of Directors, Officers, advisers and members attended the very successful international conference together with the three other Chapters’ Officers and members of the region. The conference committee prepared very exciting tours in Singapore and Phuket which were truly enjoyed by all participants .

On May 19-20, 2008, a two-day seminar on “ Income Tax Reporting and Accounting Standards (Tax Impact of the PFRS/PAS) was conducted by Dr. Rosalinda D. Evangelista at the PICPA Training Room and was attended by 22 participants.

Another EMMC seminar on “ Common Errors of Accountants in the Field of Taxation and How to Handle Tax Audit” was conducted by Dr. Ruperto P. Somera last May 28, 2008. The seminar was held at the PICPA Training Room and there were 64 participants to the seminar.

On June 15, 2008, the Chapter headed by your president and Social Involvement Committee Co-Chair, Mr. Eric Santos visited the GK Village in Montalban, Rizal for its Feed A Child Project. After visiting the kids at GK Village, the group had the golden opportunity to meet in person San Mateo Mayor, Hon. Mayor Pedro Cuerpo and his very hospitable and charitable wife, Mrs. Nilda Cruz-Cuerpo, who was also celebrating her birthday on the same day. EMMC attendees were treated to a hearty and healthy lunch by the charming celebrant, Mrs. Cuerpo.

Ms. Tess Villones, President of GK Kapit Bahayan-Sub-Urban Chapter, reported that after five (5) months of feeding sessions, forty seven (47) children have regained normal nutritional health status and fifty three (53) of the beneficiaries have shown weight improvement. As of June 15, 2008, 65 children or 79.27% of the identified malnourished children have shown weight improvement and 59 children or 71.95% have graduated from malnourished to nourished kids. Meanwhile, still 17 children or 21% were classified as still malnourished. Thus, EMMC in its Board Meeting last June 23, 2008 approved the continuation of this Feed A Child Project.

On June 23, 2008, the EMMC Board conducted its Transition and Planning Meeting where your President extended her deep gratitude and appreciation to all Officers, Chairpersons, Advisers, supporters and friends who had actively given their wholehearted and dynamic support to the achievement of EMMC’s plans and goals for the year at the same time receiving the Most Outstanding Chapter and Hall of Fame Awards for EMMC for the year.

Our June birthday celebrants included past EMMC President and Co-Chair for Conferences and Conventions Committee, Ms. Rizalina Ong and Atty. Nelson M. Aspe, EMMC’s Regional Sectoral Representative for Government.

The last of the EMMC seminars was held on June 25, 2008 with the smart and witty Dr. Ruperto P. Somera as resource speaker on “The Tax Aspects of Cooperatives and Non-Stock Non-Profit Organizations and Effective Tax Management” at the PICPA Training Room with 67 participants.

To all our EMMC Officers, Committee Chairs and Co-Chairs, Advisers, Sponsors, Resource Speakers, Fellow MMR Chapters’ Presidents and Officers, PICPA National Officers, EMMC Supporters and Friends, our deepest GRATITUDE AND APPRECIATION to ALL of you. EMMC’s great success became possible with your wholehearted support and active participation to all our projects and activities.

And to our Heavenly Father, the Maker and Giver of all and of everything that we have, who allowed these great things to happen, all praise, honor and glory be to You, O, Lord. May our lips praise you, our lives proclaim your goodness, our work give you honor, and our voices celebrate you for ever.

THANK YOU VERY MUCH AND GOD BLESS.

P.S.

May we also request for your special prayers for the eternal repose of the souls of our dearly departed EMMC outstanding members – Mrs. Nenita Mejorada, our EMMC Outstanding CPA in Education and our Distinguished Achievement Awardee, UE Chairman, Panfilo O. Domingo. May their souls rest in peace.

Thank you very much.