Peninsula Apparel International Limited

Skyworth Fashion (Cambodia) Co., Ltd

Accounting Department

MINUTES OF THE MEETING

Date : March 16, 2020
Place : Skyworth Fashion Conference Room
Time : 1:45 PM to 2:55 PM
Attendees : Jizelle G. Baltazar
Kennet Capule
Lean Chheangmean
Renato Llegue Jr.
Carlo Serrano
I. Call to order
The meeting was called for the finalization of transfer of Ms. Baltazar and Mr. Llegue to PAIL as per the
GM’s instruction and for some other concerns and improvement.

II. Agenda
a. Transfer of Ms. Baltazar and Mr. Llegue to PAIL
i. It was agreed by everyone that Ms. Baltazar will report at PAIL starting March 18, 2020
(Wednesday) to start the training and turnover for Book A from Lean Chheanmean, while Mr.
Llegue will stay in SKY, until further notified for transfer, to furnish the payroll on March 25,
2020. (Note:This was already approved by Madam Ling).
ii. Mr. Lean Chheang Mean will report on SKY starting March 26, 2020 to start the training and
turnover of Book A from Mr. Llegue. (Note:This was already approved by Madam Ling).

b. Preparation of Monthly Reports

i. It was agreed by the team that a Monthly Report must be submitted by Ms. Baltazar to to assist the
Top Management in their decision making.
ii. The monthly report should consist of the following:
1. Financial Statemen for the Month
2. Expenses Report
3. Income Statement, if any.
4. Trial Balance

c. Standard Operating Procedure proposal

i. Everyone is required to submit their daily, weekly, month and annual activities for consolidation
and standardization of accounting process for both PAIL and SKY until Saturday, March 21, 2020.
ii. After the consolidation of the activities, a finalization of the process and definition of the accounts
should be discussed by the Department with a meeting for approval.

d. Deadlines
i. Everyone should take note in updating their Books and Records DAILY.
ii. The budget for the month should be prepared and sent to Hongkong earliest on the 25 th of the
previous month and first day of the requesting month.
iii. A summary of payments will be sent to Ms. Baltazar on March 21, 2020 for consolidation.

e. MDNM Books
i. The sky should have a separate record for the expense of Factory F (MDNM Garments) for
monitoring and reporting. This record should be maintained by Carlo.

f. Other concerns
i. Concerns with resigned workers’ payroll that are still unclaimed with the span of 2 months will be
return to petty cash fund. Moreover, the Accounting Department should call the attention of the HR
 officer to inform the worker for the claiming of payroll No payroll should be disbursed in behalf of
the worker not unless it was a duly authorized representative of the worker evidenced by an
authorization letter with attached ID and signature.
ii. We should always take note on the invoice sent to us for payment, any variances should be raised
and confirmed by the Accounting officer to the requesting department for clarification or revision,
if any.

III. Closing
a. With no other concerns to discuss, the meeting adjourned at exactly 2:55 PM

Prepared by:

Jizelle G. Baltazar

Approved by:

Mee Ling Kwan

General Manager