COLLEGE OF SCIENCES, TECHNOLOGY

AND COMMUNICATIONS, INC.

CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

FEASIBILITY STUDY
Bachelor of Science in Accountancy
For the Academic Year 2020 – 2021

Brief Description of the Program

This is the program that provides general accounting education to students wanting to
pursue a professional career in Accountancy in general and in Public Accounting in particular.
Further, this is the program that complies with the latest competency framework for
professional accountants issued by the International Federation of Accountants (IFAC) through
their International Education Standards. Thus, this qualifies the graduate of this program to take
assessments leading to certifications in Accountancy given by the Professional Regulatory
Commission – Board of Accountancy (PRC-BOA) and other global professional Accountancy
organizations.
As a field of study, Accountancy is a profession that involves providing assurance and
audit services for statutory financial reporting, tax-related activities, management advisory
services partnering in management decision-making, devising planning and financial reporting
and control to assist various stakeholders in making decisions.
Accountants should pursue lifelong learning, and continuous professional development.
They must be objective, ethical and consider the public interest. They should help colleagues to
overcome bias by rooting organizational decision-making and implementation in an evidence
base, and by providing empirically tested, objective solutions wherever possible.
Accountancy professionals must pay due regard to the primacy of the organization’s
customers and the range of relationships that enable a business to operate. They must also
understand the global macro-economic environment to assess information based on its
relevance to their organization
A combination of accounting and financial expertise, business understanding and
analytical skills and appropriate business experience means that accountants are practical and
grounded in operational reality. (CMO 27, 2017)
Institutional Mandate and Philosophy and Goals of Bachelor of Science inAccountancy
CSTC College of Sciences, Technology and Communications, Inc. Vision and Mission
VISION
CSTC envisions to become a top transformational learning community and center of excellence
for academic proficiency, learning, technical competency and professional expertise.
MISSION
CSTC seeks to deliver the BEST FORMS to the students through its able and dedicated faculty of
instruction and training and with the goal-oriented support of the administration.
QUALITY STANDARDS
CSTC seeks to deliver the BEST in
Behavioral example so that students can be the best.
Educational enrichment so that students can know the best.
Service excellence so that students can offer the best.
Technical expertise so that students can do the best.
 COLLEGE OF SCIENCES, TECHNOLOGY
AND COMMUNICATIONS, INC.
CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

CSTC seeks to meet its mission goals through cause-oriented FORMS:

Foster high standards of professionalism.
Offer opportunities for personal and career growth.
Respond to the call and challenge of global competitiveness.
Motivate teachers and students towards excellence.
Sustain an environment for innovation and creativity
CSTC College of Sciences, Technology and Communications, Inc. Philosophy and Core Values
To effectively achieve its vision and fulfill its mission, CSTC is being guided by a set of core
VALUES that FORMS its ideals.
The core values that shape the standards of the school are: Learning, Innovation, Excellence,
Responsiveness, and Leadership.
Learning
Providing opportunities to learn and assisting and enabling all those who come to the institution
in achieving personal enrichment through learning. CSTC supports research initiatives and
integration of research and teaching so that our students can both profit from, and participate
in, the development of new knowledge and discoveries.
Innovation
CSTC as an educational institution approaches the complexities of its time with responsive and
innovative approaches to education. CSTC offers a modern curriculum and utilizes advanced
technologies and the most innovative methods of teaching. Much of the CSTC research is at the
intellectual frontier, with the ultimate goal of generating tangible returns to society.
Excellence
CSTC strives for excellence in the fundamental roles of teaching, research and student service.
CSTC recognizes the technical and professional expertise of its student as the ultimate measure
of excellence.
Responsiveness
CSTC’s program and course offerings are based on the needs and preferences of students, the
community and the society. In addition, CSTC is committed to contribute to the global challenge
of economic development.
Leadership
This is the role which the institution earns, through the rigorous development of ideas, the
integrity of its actions, the trust merited by officials, the effectiveness of the service it provides,
and the institutional respect it commands within the community. CSTC seeks to develop and
foster leadership qualities in the students.
Bachelor of Science in Accountancy Program Goals
The primary goal of accounting education is to produce competent and ethical
professional accountants capable of making a positive contribution over their lifetimes to the
profession and society in which they work. In the face of increasing changes that they will meet
later as professional accountants, it is essential that students develop and maintain an attitude
of learning to learn, to maintain their competence later as a professional accountants.
 COLLEGE OF SCIENCES, TECHNOLOGY
AND COMMUNICATIONS, INC.
CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

The BSA program should provide a foundation of professional knowledge, professional

skills and professional values, ethics and attitudes that enable them to continue to learn and
adapt to change throughout their professional lives. These capabilities will enable professional
accountants to identify problems, know where to find this knowledge and know how to apply it
in an ethical manner to achieve appropriate solutions. The balance of these elements may vary
but what is required is to develop the knowledge base, strong skills and ethical values in order to
produce competent professional accountants with appropriate values, ethics and attitudes.
The strategic relevance of Accountancy is represented by its ability to support various
stakeholders, e.g., regulatory bodies, potential investors, creditors, management and
employees, in taking the strategic and operating decisions through the presentation and analysis
of financial data and information arising from business transactions.
Management Viability

President

Vice-President
for Academic Registrar
Affairs/
College Dean

Program Head

Faculty
Faculty

Organizational Chart for the BSA Program

President
 Holder of Doctorate Degree in Educational Management and Master’s Degree in Business
Administration
 Served more than 30 years in administrative position

Vice-President for Academic Affairs/ College Dean

 Holder of Doctorate Degree in Business Administration and Master’s Degree in
Educational Management
 Served more than 30 years in administrative position
 Served more than 10 years in teaching position

Registrar
 Graduate of Master’s Degree
 Served for more than 15 years in administrative position

Program Head (OIC)

 Holder of Master in Business Administration degree
 Had served seven years of teaching position and five years of administrative position
 Holder of Certified Public Accountant license and currently working on its PRC BOA
Accreditation for Accounting Teacher

Faculty
 COLLEGE OF SCIENCES, TECHNOLOGY
AND COMMUNICATIONS, INC.
CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

 Holder of relevant PRC license

 Graduate of related Master’s and/or Doctorate Degree
 Had served in a teaching position

Physician( retainer)/ Dentist/ Nurse/ Guidance Counselor/ Librarian

 Holder of relevant PRC license
 Had experience in the related fields

Market Viability
The BSA graduates are expected to fill the needs of the country when it comes to the
profession.
Estimated Demand for Accountancy Graduates

2021 76,541
2022 78,072
2023 79,633
2024 81,226
2025 82,850
2026 84,507
2027 86,198
Source: 2019 Trends Report, AICPA
The figure shows the number of vacant positions related to accountancy works. There is
an estimated 2% increase in demand.
Projections of BSA Enrolment

First Year Second Year Third Year Fourth Year Total

2019-2020 *6 - - - *6
2020-2021 20 *6 - - 26
2021-2022 30 20 6 - 56
2022-2023 33 30 20 6 89
2023-2024 36 33 30 20 119
*Actual number of students enrolled
The projected enrollees will come from the Senior High School of the institution,
specifically ABM students. There are 1,037 Grade 12 students from CSTC. Furthermore, more
than ten public partner high schools from Sariaya and its neighboring towns promotes CSTC as
an avenue of college education to its students and stakeholders.
Competitor
There is no competitor in Sariaya offering Accountancy course or any accountancy-
related courses.
 COLLEGE OF SCIENCES, TECHNOLOGY
AND COMMUNICATIONS, INC.
CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

Financial Viability
Statement of Assumptions on Proposed Budget
For the Academic Year 2020-2021, Bachelor of Science in Accountancy will be on its second year
of operation. Total enrolment will rise to 26 students as been forecasted and scheduled as
follows:

First Year 20 students

Second Year 6 students

There will be no increase on tuition fees, laboratory fees, miscellaneous fees and other fees in
the amount of P21, 800. Parallel with these expansions, the institution’s budget must be
considered carefully to achieve the desired quality education leading to the average and
competitive graduates. The expected expenses which include personnel expenses, direct project
expenses, administrative and overhead expenses would then increase by ten percent.
The operating costs of the course are 70% of the total fees assessed with the following
schedules:

Salaries, wages and fringe benefits of school personnel 25%

Cost of publications and travel 9.5%
Facilities and other administrative cost 8.5%
Maintenance and other operating cost 8%
Communications, internet, light and water 7%
Textbooks and instructional materials 6%
Supplies and other materials 4%
Taxes, permits and licenses 2%

The fund balance of 30% reserves for the school building expansions and improvements and
other capital expenditures.
Insurance and miscellaneous expenses are evenly incurred throughout the year. Income tax is
10%. The following figures were allocated as to the total amount earned by the institution.
The figures for 2019-2020is presented in segmented form. Expenses were allocated based on
the number of students for the said period.
 COLLEGE OF SCIENCES, TECHNOLOGY
AND COMMUNICATIONS, INC.
CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

Segmented and Projected Statement of Financial Performance

Bachelor of Science in Accountancy
For the years 2019-2024

Segmented Projected Projected Projected Projected

2019-2020 2020-2021 2021-2022 2022-2023 2023-2024
6 students 26 students 56 students 89 students 113 students
Sales ₱ 261,600.00 ₱ 1,133,600.00 ₱ 2,441,600.00 ₱ 3,880,400.00 ₱ 4,926,800.00
less: Salaries 32,700.00 283,400.00 610,400.00 970,100.00 1,231,700.00
Publication and travel 1,587.47 107,692.00 231,952.00 368,638.00 468,046.00
Facilities and administrative costs 10,227.52 96,356.00 207,536.00 329,834.00 418,778.00
Repairs and Maintenance 2,223.60 90,688.00 195,328.00 310,432.00 394,144.00
Utilities 5,886.00 79,352.00 170,912.00 271,628.00 344,876.00
Textbooks and instructional materials 7,244.31 68,016.00 146,496.00 232,824.00 295,608.00
Supplies 4,708.80 45,344.00 97,664.00 155,216.00 197,072.00
Legal 981.00 22,672.00 48,832.00 77,608.00 98,536.00
Insurance 915.60 17,004.00 36,624.00 58,206.00 73,902.00
Miscellaneous 784.80 14,170.00 30,520.00 48,505.00 61,585.00
Taxable Income 194,340.90 308,906.00 665,336.00 1,057,409.00 1,342,553.00
Income Tax 19,434.09 30,890.60 66,533.60 105,740.90 134,255.30
Net Income ₱ 174,906.81 ₱ 278,015.40 ₱ 598,802.40 ₱ 951,668.10 ₱ 1,208,297.70

Segmented and Projected Statement of Changes in Equity

Bachelor of Science in Accountancy

For the years 2019-2024

Actual Projected Projected Projected Projected
2019-2020 2020-2021 2021-2022 2022-2023 2023-2024
Equity, beginning ₱ - ₱ 174,906.81 ₱ 452,922.21 ₱ 1,051,724.61 ₱ 2,003,392.71
Add: Net Income 174,906.81 278,015.40 598,802.40 951,668.10 1,208,297.70
Equity, ending ₱ 174,906.81 ₱ 452,922.21 ₱ 1,051,724.61 ₱ 2,003,392.71 ₱ 3,211,690.41

Segmented and Projected Statement of Cash Flows

Bachelor of Science in Accountancy
For the years 2019-2024

Actual Projected Projected Projected Projected

2019-2020 2020-2021 2021-2022 2022-2023 2023-2024
OPERATING
Cash receipts on sales 261,600.00 1,133,600.00 2,441,600.00 3,880,400.00 4,926,800.00
Cash paid for operating expenses (67,259.10) (824,694.00) (1,776,264.00) (2,822,991.00) (3,584,247.00)
Cash paid for taxes (19,434.09) (30,890.60) (66,533.60) (105,740.90) (134,255.30)
Cash provided(used) in operating activities 174,906.81 278,015.40 598,802.40 951,668.10 1,208,297.70

Cash inflow(outflow) 174,906.81 278,015.40 598,802.40 951,668.10 1,208,297.70

Cash Beginning - 174,906.81 452,922.21 1,051,724.61 2,003,392.71
Cash ending 174,906.81 452,922.21 1,051,724.61 2,003,392.71 3,211,690.41
 COLLEGE OF SCIENCES, TECHNOLOGY
AND COMMUNICATIONS, INC.
CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

Segmented and Projected Statement of Financial Position

Bachelor of Science in Accountancy
For the years 2019-2024

Actual Projected Projected Projected Projected

2019-2020 2020-2021 2021-2022 2022-2023 2023-2024

Cash ₱ 174,906.81 ₱ 452,922.21 ₱ 1,051,724.61 ₱ 2,003,392.71 ₱ 3,211,690.41

Total Current Assets ₱ 174,906.81 ₱ 452,922.21 ₱ 1,051,724.61 ₱ 2,003,392.71 ₱ 3,211,690.41

Fund Bal a nce ₱ 174,906.81 ₱ 452,922.21 ₱ 1,051,724.61 ₱ 2,003,392.71 ₱ 3,211,690.41

Total Fund ₱ 174,906.81 ₱ 452,922.21 ₱ 1,051,724.61 ₱ 2,003,392.71 ₱ 3,211,690.41

Fund Balance ₱ 174,906.81 ₱ 452,922.21 ₱ 1,051,724.61 ₱ 2,003,392.71 ₱ 3,211,690.41

Projected Budget
Bachelor of Science in Accountancy
Academic Year 2020-2021

INCOME
School Fees: P 21,800 per semester x 2 semester x 6 students ₱261,600.00

EXPENSES
Salaries P 32,700.00
Publication and travel 1,587.47
Facilities and administrative costs 10,227.52
Repairs and Maintenance 2,223.60
Utilities 5,886.00
Textbooks and instructional materials 7,244.31
Supplies 4,708.80
Legal 981.00
Insurance 915.60
Miscellaneous 784.80
Income Tax 19,434.09 86,693.19

FUND BALANCE – Reserves for School Building Expansion and ₱174,906.81

Improvements
 COLLEGE OF SCIENCES, TECHNOLOGY
AND COMMUNICATIONS, INC.
CSTC Building, Gen. Luna St., Maharlika Hi-way, Pob 3, www.cstc.edu.ph
[email protected]
Sariaya, Quezon R-IV-A [email protected]
Registrar’s Office: 042 3290850 / 042 7192818

Schedule of Proposed Tuition and Other Fees

Bachelor of Science in Accountancy
A.Y. 2020-2021

Tuition Fee P 600/ unit

Laboratory Fees
Computer Laboratory 1,500/ subject
Other Laboratory (Skills) 1,500/ subject

Miscellaneous Fees
Registration Fees 600
Library Fee 700
Medical and Dental Fee 700
Guidance and Counseling Fee 600
Identification Card 150
Insurance Fee 100
Developmental Fee (Optional) 700
Instruction/ Testing Materials 1,500
Athletic Fee 400 5,450

Other Fees
Certificate of Good Moral Character 100
Certificate of Grades 100
Transcript of Records 250/ page
Honorable Dismissal 100
Diploma 250
Clearance 50
Insurance Fee 100
Transfer Credentials 50
Adding/Changing/Dropping Form 50
Completion Form 50
Student Government Fee 100
Classcard 10

Installment Basis

Down Payment = 25% of Tuition, Laboratory and Miscellaneous Fees

Other Operational Aspect

CSTC is located in an area conducive for learning. No recreational paces, bars, gambling places
and the likes surround the school

Prepared by: Approved by:

MARK ANTHONY C. DELGADO NELSON D. MENDOZA,Ph. D.

Accountant President/ CEO