Company Background

Wisdom Islamic School, Davao City, Inc. formerly known as Wisdom International
School for Higher Education Studies (WISHES) is a non-profit, non‐stock private
school, fully recognized by
the Department of Education (DepEd) operate pre‐school, elementary, Junior High
School, and
Senior High School education in Davao City.

It is located in Abinsay St., Dumanlas, Buhangin, Davao City. It was founded by late
Muslim husband and wife, Dr. Mamarinta-Omar Mababaya and Dr. Norlain Dindang
Mababaya. They jointly founded WISHES based on their noble goal ro provide
quality and relevant education to deserving Muslims for the pleasure of Allah.

It started with 12 students on June 2010 and now has more than 300 students from
Kindergarten to Senior High School. Teaching its curriculum based on DepEd
mandated courses with the inclusion of studying Islamic Studies (Islamic Creed,
Islamic Jurisprudence, Prophetic Traditions, Prohetic History and Qur'an).

HISTORY
Wisdom Islamic School in Davao City was an offshoot of Wisdom
International Islamic University
Wisdom Islamic School was duly registered with the Securities and Exchange
Commission (SEC) with Dr. Mamarinta‐ Omar Mababaya as President and Dr.
Norlain Dindang Mababaya as Chairman of the Board of Trustees.
Dr. Omar Mababaya obtained his PhD degree from the Westminster Business
School, University
of Westminster, London (UK). He also had pursued a PhD research degree in Islamic
Management at the Faculty of Leadership and Management, Islamic Science
University of Malaysia, but had not completed it due to time constraint. Dr. Mababaya
was also an author of Islamic and management books and articles; as well as an
international lecturer and organizer on various topics in Islam.
Dr. Norlain Dindang Mababaya obtained her Doctorate and a Master’s degree
in Educational
Administration at the University of the Philippines, Diliman, Quezon City in 1982.
Her other major
qualifications include Doctor of Islamic Studies with published book “Understanding
Prophet Muhammad’s Life, Character and Teachings: The Key to World Peace,
Prosperity and Success”, WISHES, Philippines (2009); Bachelor of Arts in Political
Science and Master of Arts in Teaching (General Education) graduate (1973 & 1976)
at Mindanao State University (MSU), Marawi City.
She was also an author of several books and articles on Islam, published in Saudi
Arabia, Germany, Pakistan and the Philippines.

Company's Vision, Mission and Goals

VISION
Our vision is to see a learned and prosperous society that adheres to the authentic
teachings of Islam where members are ideal individuals and groups who please Allah
wholeheartedly, live a pure Islamic life in this world, and aspire to attain eternal peace
and success in the Hereafter.

MISSION
Wisdom Islamic School aspires to be a leading institution for providing quality
education and
authentic Islamic teachings based on the Qur’an and the Prophetic Tradition, upon the
understanding of the Righteous Predecessors (of Islam), as well as other relevant
curricula for a well‐balanced life, development and
success.

GOALS
1. To provide a quality, ambient, Islamic environment that facilitates excellence in
education whereby learners feel comfortable, safe and free to enhance their faith and
Islamic knowledge and be able to practice Islam as a complete way of life;
2. To develop learners’ abilities, skills, interests and capabilities through integrated
well‐balanced curriculum and meaningful learning experiences in an Islamic
environment;
3. To mold young Muslims to become dedicated, honest, sincere and dynamic leaders
in the future who will be prepared to lead their respective communities for a peaceful
and prosperous well balanced life and development;
4. To prepare young Muslims for a successful life with a clear consciousness of their
primary goal to worship Allah alone and be able to play their roles as ideal members
of the Muslim Ummah;
5. To train young Muslims to be good and responsible citizens, and play important
roles in the
promotion of world peace and development for the pleasure of Allah;
6. To promote the skills, knowledge, and attitudes necessary for the successful
development of the total person as an ideal Muslim; and
7. To prepare students to adapt to the complexities and challenges of an increasingly
interdependent knowledge society and a rapidly changing world.
Organizational Structure

This is the organizational structure of Wisdom Islamic School, Davao City, Inc.
which defines the responsibilities of each employee in implementing and doing
various tasks within an organization. The organizational structure also determines
how information flows from level to level within an organization and is presented on
the onset of the business establishment in a particular business plan.

Job Description

The following describes the organizational structure of Wisdom Islamic School, Inc.

 President/CEO – the president oversees fund raising operations, and is also

the organization's chief fundraiser. This involves informing the staff of board
decisions and plans, and keeping the board informed of the status of the
organization's finances and programs.
 Head Supervisor/COO – oversees everything internal, freeing up the CEO to
focus on external matters such as fundraising, public relations, and
partnerships.
 Female Supervisor - oversees internal affairs in connection with the female
staff.
 Principal - lead teachers and staff, set goals and ensure students meet their
learning objectives
 Academic Affairs - has primary leadership responsibilities for planning,
implementing, and coordinating the educational programs of the institution. In
assuming these responsibilities, the academic affairs must work closely with
other members of the faculty.
 Ancillary Department - Directs and coordinates all aspects of nursing
services like medical records, library and general services.
 Registrar - The job of registrar is done for the purpose/s of performing
specialized and responsible clerical and technical tasks related to the
maintenance of student records and files; as well as related duties as required
in the activities of the Guidance Department
 Finance Head - duties include reviewing financial reports, monitoring
accounts, and preparing activity reports and financial forecasts.
 Cashier - Receive payment by cash, check, credit cards, vouchers, or
automatic debits. Job includes Issuance of receipts, refunds, credits, or change
due to customers.
Narrative

Disbursement Process

The cashier remits all the cash received to the CEO. After that, the CEO prepares the
budget plan for the month based on what the school needs for that certain month. The
COO or one of the administrative staff pays for the obligations and expenses. The
COO records the transaction in the disbursement journal base on the receipt. The
receipt is kept by the accountant as supporting document.
The Cash Disbursement Process- Current System

FLOWCHART
 The cashier remits the
money to the CEO.

The CEO oversees the

school and plans the
expenditures for the month.

COO pays for the

expenditures.

Receipt

Disbursement
Journal
Narrative
Revenue Process

The Cashier will receive cash upon the payments for the tuition fees from the
students. After receiving the cash, the cashier will then prepare the receipt as the
presentation of the amount paid by the students and this is to be recorded in the
cash receipt journal by the administrator that serves as the source document. The
administrator will prepare all the cash payments received and will remit it to the
CEO of the school.
Revenue Process - Current System

Flowchart

Collection of cash
received from the
students

Prepares receipt upon

the received cash

Remits cash to
the CEO

Recording of
cash receipt
transactions

To CEO
Industry Analysis
Findings

The following problems were observed during the engagement

Revenue Process

1. Administrator handles accounting functions.

2. Disbursements for salaries may originate from collections of tuition fees.
3. The finance head sometimes do the cashiering functions.
4. MS Excel is used as the tool in recording revenues (aside from the handwritten
records) and there is no security code used in opening the Excel file.

Disbursement Process.

1. There is no disbursement summary.

2. The COO records the expenses.

Recommendations

From the above findings, we recommend the following:

Revenue Process

1. It is advisable to segregate cashiering functions in order for accountability to

be established.
2. A security code or password may be used in the Excel file so that no one can
easily access the file aside from the assigned employee.
3. Tuition fees collections should be recorded and deposited intact before any
disbursements because this might create an opportunity to understate receipts
and overstate disbursements.

Disbursement Process

1. A disbursement summary is recommended so that actual and budget plans can

be compared.
2. Segregation of duties when it comes to the one assigned in the execution of
disbursement and recording is advised.