Accounting Template for Clubs and Associations (ATCA)

Accounting information is very important not for business only, but also essential for clubs and associations to plan and manage their financial matters more effectively. However, most student clubs and associations do not keep a proper book of accounts since there is no legal obligation to do so. Another reason is because they perceive accounting is a very difficult process due to the lack of exposure in providing accounting records particularly for non-accounting students. A study also shows lack of accounting knowledge, inadequate training and poor source document keeping are the key factors influencing under-reporting of financial performance among these student clubs and associations. Therefore, there is a need for an innovative solution that can help students to solve the matters by developing a friendly designed template. ‘Accounting Template for Clubs and Associations’ (ATCA) is simple to understand with a minimal accounting knowledge requirement and it will automatically produce the standard financial report that able to tackle the issue of non-submission or incomplete reporting, transparency and accountability. On annual basis, ATCA of all club associations are monitored by audit team to verify their recorded transaction. The novelty of ATCA lies in its friendly designed template using commonly used Microsoft Excel and to provide them with a proper hand-on training plus supplied with manual instruction ATCA. The commercialization potential of ATCA can be very significant especially to all the internal students’ clubs and associations registered under Student Affairs Division for the whole system of UiTM. Moreover, the template also can be commercialised to other clubs and associations outside the system of UiTM such as at other universities, colleges and club societies. There is a possibility also to develop ATCA into a digital platform such as mobile online app in order to increase the accessibility and connectivity by members of the clubs and associations. Overall, ATCA is proven as a valuable tool to solve the problem of non-submission or incomplete of financial reporting by the clubs and associations.