Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Microeconomics 5 Value added tax 6 (Basic knowledge) 7 Corporations 8 IAS 11/PFRS 15 9 10Understanding the Entity & its Environment
Including its Internal Control & Assessing the
11
Output VAT Accounting for insurance contractsNature and classes; Incorporation & Journal entries & determination of revenue, costs
(concept of and factors affecting by insurers (PFRS 4) org of Private Corp; Powers & gross profit Other Topics Risks of Material Misstatement
Input VAT
supply; concept of and factors affecting Accounting for build, operate & (Expressed, Implied, Incidental);
VAT tax credits Borrowing Costs (IAS 23) Industry, regulatory & other external factors, incl
demand; market equilibrium; price transfer (IFRIC 12) Board of Directors/Corporate Percentage of completion (proportion that the applicable financial reporting framework
elasticity of demand; market structure; Refund of excess input VAT Officers (Qualifications, Election & contract costs incurred for work performed to date Nature & Criteria for capitalizing
(Nature of the entity, Objectives & strategies &
production and cost functions) Venue and time of filing of donors tax
Investment Property removal, Powers & fiduciary duties); bear to the estimated total contract costs; Surveys of borrowing costs related business risks, Measurement & review of the
returns work performed; or Completion of a physical
Venue and time of payment
Nature and measurement
principle
* proportion of the contract work) entity's financial performance)*****
Capital budgeting 26 Percentage tax 27 28 Cooperatives 29 Translation of Foreign Currency FS (PAS 30 *** *****
Capital investment decision factors (net Investments in Associates (equity Organization & Registration; 21/PAS 29) Internal control
investment for decision making,cost of method of accounting) Administration; Responsibilities, Translation from the Functional Currency to the Types of decisions (make or buy, Basic concepts & elements of internal control,
capital,cash&accrual net returns) Tax base and tax rates Rights & Privileges; Capital, Propertypresentation Currency (Closing/ Current Rate accept or reject special order, Consideration of accounting & internal control
Non-discounted capital budgeting Venue and time of filing of tax returns of Funds; Audit, Inquiry & Members Method) continue or drop/ shutdown, sell or systems (Understanding & documentation,
techniques (payback period, acctg rate ofVenue and time of payment process further, best product
Auditing: Communicating withRight to Examine; Allocation & Remeasurement from a Foreign Currency to the combination, pricing decisions) Assessment of control risks - Test of controls &
return on original &average investment, Modes of payment Distribution of Funds; Types & Functional Currency (Temporal Method) Documentation)
bail-out payback & payback reciprocal) Use of tax rates those charged with Categories; Merger & Consolidation;
Discounted capital budgeting techniquesAccomplishing of tax returns & forms governance and managementDissolution Restatement of financial statements (Functional
(net present value, internal rate of return, currency is the currency of a hyperinflationary
profitability index, equivalent annual economy)
annuity, fisher rate/NPV point of Post-audit responsibilities
Project screening, project ranking & capital rationing (independent &mutually exclusive capital investment projects) Subsequent discovery of facts & Subsequent discovery of omitted procedures
indifference)
Sensitivity analysis (effects of changes in project cash flow, tax rates & other assumptions)
July 2017
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
MAS Tax Mock Law AFAR FAR Auditing
Responsibility acctg & transfer pricing Nonaudit engagements: procedures
31profit & investment centers)
Type of responsibility centers (cost, revenue, and reports (Examination of prospective Non-Financial Liabilities 1 Reports on Audited FS 2
The unqualified auditor's report
Concepts of decentralization & segment reporting financial information;Engagements to Premiums & warranties
Basic elements of the unqualified auditor's
Controllable & non-controllable costs, direct & common costs review financial statements) Unearned revenues for gift
report
Performance margin (manager vs. segment performance) Nonassurance engagements certificates & subscriptions
Balanced scorecard Modified auditor's report (Matters that do not
Preparation of segmented income statement Engagements to perform agreed-upon
Nature and perspectives of balanced affect the auditor's opinion ;Matters that do
Return on investment (RoI), residual income and economic value added (EVA) procedures regarding financial information;
Provisions & Contingencies
scorecard affect the auditor's opinion)
Rational & need for transfer price Engagements to compile financial Recognition & measurement
Financial and non-financial Report on comparatives
Transfer pricing schemes (minimum transfer price, market-based transfer price, information criteria
performance measures
cost-based transfer price & negotiated price)
Quantitative techniques 3 INCOME TAX 4 Omnibus Investments Code (Book 15 ofPledge, Real Mortgage &Chattel6 7 8 9
Audit Objectives, Procedures, Evidences
Regression & correlation analysis; Gantt chart;Taxpayer and tax base; Executive Order 226)* Mortgage Joint Arrangements (PFRS 11) Property, Plant & Equipment and Documentation
PERT (CPM); Probability analysis (expected Individuals; Corporations; Policy and the Board of Investment Joint Operations Nature Nature and significance
value concept); Decision tree diagram; (BOI) Joint Venture (Equity method) Recognition principle Evidential matters
Partnerships; Joint ventures; Nature & requisites; Requirements to
Learning curve; Inventory models (carrying and Preferred areas of investment Accounting for SME Initial recognition basis Audit procedures/techniques
Estates and trusts; Co- bind the parties & third persons;
ordering costs, EOQ model, safety stock, Investments Priority Plan Audit working papers
Obligations & rights of pledger & pledge / Depreciation methods
reorder point) ownerships; Tax exempt Registration of investments
mortgagor & mortgagee; Effect of pactum Impairment
Linear programming (graphic method; individuals & orgs Fiscal incentives to BOI registered
commissorium; Modes of extinguishment
algebraic method) enterprises
FS Analysis Part II 24 25 Barangay Micro Business 26 Partnership Part II 27 28 Investments in Debt 29 Audit of expenditure and 30
Gross income Enterprises (BMBEs) Act* Cost Accounting Instruments disbursement cycle
Financial ratios (liquidity, solvency, activity,
Income from compensation Registration of BMBes Distribution of profits&losses System of cost Accumulation or Financial Assets at Fair Value through
profitability, growth and other ratios; Du Pont Income from business Fiscal Incentives to BMBEs
model) Sharing of losses&liabilities Costing System Profit or Loss (Except Derivatives) Audit of inventory balances
Passive income subject to final Comparison between Actual Costing, Financial Assets at Fair Value through Audit of trade payable balances
withholding tax Modes&retirement reqmnts Normal Costing and Standard Other Comprehensive Income Audit of prepaid expenses & accrued
Financial forecasting using additional funds Capital gains
needed (AFN)
Limited partnership Costing Financial Assets at Amortized Cost liabilities
MAS:
FS Analysis Part II
August 2017
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
MAS Tax Mock Law AFAR FAR Auditing
1 Conceptual Framework 2 Contracts 3 Accounting for Business Combination (PFRS 4 5 Assessing the risks of material 6
Basic Objectives of FS Concepts and classification 3) misstatement
ESTATE TAX: Acquisition of assets & liabilities (acquisition Fraud and errors; Risk assessment
Qualitative Characteristics of FS Elements and stages Interim Reporting (IAS 34)
Freedom from contract & limitation method) - Determination of Consideration procedures; Discussion among the
Elements of FS Purpose
Gross estate; Deductions Financial Capital & Physical Persons bound Transferred; Recognition of Acquired Assets & engagement team; Significant risks that
Liabilities; Recognition & Measurement of Principles for Recognition require special audit consideration; Risks
allowed to estate; Tax credit Capital Consent
Goodwill & Gain from a Bargain Purchase; for which substantive procedures alone do
Capacitated persons
Journal Entries not provide sufficient appropriate audit
Requisites FS Presentation evidence; Revision of risk assessment
Accounting for SME
IELTS
Audit of the financing cycle
IELTS
Basic mgt functions & concepts Practice
Distinction among mgt acctg, cost acctg & Audit of financing cycle transactions
Devt of Financial Reporting
financial acctg Government Accounting General Fund Audit of non-trade liability balances
Framework & Standard-Setting
Role & activities of controller & treasurer; Bodies, Regulation of the Basic Concepts in Govt Accounting LAW:
International certifications in management Cash & Cash Equivalents
Negotiable Instruments
Accountancy Profession Budget Process; Journal Entries Books of
accounting National Government Agency Negotiability of instrument
Abnormal negotiable Instruments
Incomplete but delivered instruments
Working capital finance 21 Tax return preparation & filing & tax 22 Auditing in a CIS Environment 23
Internal control in a CIS environment Contracts Part II
24 25 26
Incomplete and undelivered instruments
27
Concepts & significance of working capitalpayments Vices of consent Separate Financial Statement (PAS 27) Audit of the financing cycle
mgt Manual filing; Electronic filing&E- Introduction Complete but undelivered instruments
Objects of contracts Accounting for Investment in Subsidiary (Cost; In Inventories Audit of interest expense and finance
Working capital investment & financing submission; Large taxpayers & non-largeImpact of computers on acctg & Considerations of contracts accordance with PAS 39/PFRS 9 (effective Instruments with forged signature cost balances
Cost, Lower of cost or Net
policies (conservative vs. aggressive) taxpayers; Income tax credits; Venue & internal control systems(General
Formalities of contracts January 1, 2018); Equity method realizable value Audit of equity accounts
Cash & marketable securities mgt (cash time of filing of tax returns; Venue & timecontrols &Application controls) PRACTICE/QUIZZERS
Unique characteristics of specific CISInterpretation & reformation of contract Estimating procedures
conversion cycle, optimal cash balance, of payment; Modes of payment; Use of Accounting for SME
(Stand alone, On-line, Database Defective contracts
collection & disbursement float, cash mgt tax tables; Accomplishing of various
income tax returns & forms system (Rescissible, Voidable, Unenforceable, Void) AUD:
system) ** Audit of cash balances
Working capital finance **
Capital structure and long-term 28 Withholding taxes (at source, expanded
29 30 31Receivables mgt (average balance of &
PDIC Law *
financing decision or creditable withholding tax, final
Basic approach to the audit of CIS investment in accounts receivable, incremental
Basic concepts and tools of capital structure withholding taxes & withholding tax on Insurable deposits Accounts Payable and
environment Maximum liability analysis & evaluation of discount, collection & Other Trade Payables
management govt payments)
Introduction credit policies)
Sources of intermediate and long-term
financing (including hybrid financing)
Time of withholding; Income payments
Effects of computers on the audit Requirements for Claims Inventory mgt (carrying, ordering& stock-out
Initial recognition
Subsequent measurement
subject to withholding TAXATION UNDER THE LOCAL
Cost of capital (cost of long-term debt, cost ofYear end withholding of tax & process costs, inventory control system including EOQ Estimating procedures
preferred shares, cost of equity, weighted requirements; Venue & time of filing of Computer assisted audit GOVERNMENT CODE* model, safety stock, reorder point)
average cost of capital, marginal cost of techniques Scope and different types of local taxes Sources of short-term funds (trade credit, bank
withholding tax returns; Venue & time of
capital)
payment; Modes of payment; Time of (Limited to RPT, local business tax); Tax loans, commercial papers, receivable factoring)
payment; Use of tax tables & rates; Use base and tax rates; Venue and time of filingEstimating cost of short-term funds (annual cost
of various withholding tax returns & forms of tax returns; Venue and time of payment of trade credit, effective & nominal annual rate of
short-term funds)
Variable costing & absorption costing 11 Remedies of the government 12 General Banking Law 13 Extinguishment of obligation14 with Process costing system 15 Equity 16 17
Definition, scope, prescriptive period Definition of Banks special emphasis on Cost accumulation procedures Audit of investing cycle
Nature and treatment of fixed factory materials, labor and overhead
Administrative remedies Loans Payment of debts of money;
overhead costs Dividends (IFRIC 17)
Judicial actions; Additions to Tax
Distinction between product cost & period cost SBL Mercantile documents as means of Journal entries; Preparation of cost of Audit of investing transactions
(Surcharge, Interest, Compromise penalty); DOSRI payment; Special forms or modes of production report (First in, first out Retained Earnings
Inventory costs between variable costing and AMLA Law * Audit of investment account balances
absorption costing
Other sanctions (Criminal penalties, Closure payment; Remission or condonation,(FIFO) method; Average method)
Reconciliation of operating income under
of Business, Collection of Delinquent Covered transactions confusion, compensation & novation;Accounting for lost units Recapitalization & quasi-
Taxes); Powers of the BIR Suspicious transactions Effect of insolvency & bankruptcy on(Normal lost units;Abnormal lost unit)
variable costing and absorption costing reorganization
Reportorial Reqrmnt extinguishment of obligation
Financial planning and budgets18 Remedies of the taxpayer 19 20 Sales 21 Backflush costing system (JIT 22 23 24
Definition and coverage of the budgeting Definition, scope, prescriptive period Nature, forms and requisites system) Audit of investing cycle
process Taxpayers rights Sales Earnest money as distinguished Cost Accumulation procedures Equity:
Master budget and its components (operating Administrative remedies (Protesting of from option money materials, labor and overhead Audit of property, plant and equipment
and financial budgets) Assessment, Recovery of excess or Rights/obligations of vendor
Rights/obligations of vendor and Journal entries Book Value per Share / account balances
Types of budgets (static, flexible, zero-based,
continuous)
erroneously paid taxes, Request for the and vendee vendee Service Cost Allocation
Warranties (in relation to consumer Direct method
Earnings per Share
Audit of intangible account balances
compromise, abatement or refund or credit
Budget variance analysis (static and flexible)of taxes, Request for rulings) laws) Step down
Judicial remedies Reciprocal method
Activity-based costing (ABC) and activity-Donors tax
based management (ABM)
25 Gross gift 26 Cost-volume-profit (CVP) analysis 27 Corporations 28 Accounting for joint and by29 30 Activity based costing system (ABC
Uses, assumptions and limitations of CVP analysis Accounting Process
Activity levels (unit-level, batch-level, product-Exemptions Suspension or revocation of license products 2.1 Adjusting Entries
costing)
Factors affecting profit Withdrawal from business Allocation of costs: Traditional
level and facility-level), cost pools and activityTax rates in general and when the donee isBreakeven
a Methods of allocating joint cost to
point in unit sales and peso sales 2.2 Accounting Cycle
drivers Kinds and availability of corporate products Costing versus ABC Costing
stranger Required selling price, unit sales and peso sales
Determination of cost pool rates and application Venue and time of filing of tax returns books Market (sales) value method: (Market Determination of Total Product Costs:
to achieve a target profit
of overhead costs Venue and time of payment Securities Regulation Code value at split off point approach; Loans and Receivables Traditional Costing versus ABC
Sensitivity analysis (including indifference point in
Traditional costing vs. activity-based costing Modes of payment (Kinds of securities, Protection of Hypothetical Market Value Approach or (Financial Assets at Amortized costing
unit sales and peso sales) Approximated Net Realizable Value
Process value analysis (value-added activitiesUse & of tax tables Use of sales mix in multi-product companies investors, private tender offer and Cost) RFBT:
non-value-added activities) Accomplishing of tax returns and forms Concepts of margin of safety and degree of Insider Trading) Approach or Net Realizable Value General Banking Law *
Attachments to the tax return SEC Circulars and Issuances Method; Average unit (production output)
operating leverage Definition of Banks
October 2017
Administrative requirements Code of Corporate Governance method; Weight average method) Loans
Filing of General Information Sheet Methods of allocating Joint Cost to By
products (No joint cost allocated to by o SBL
Filing of Annual Audited FS
product; With joint costs allocated to by o DOSRI
)
Treatment of by - products
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
Consolidated Financial Statements30 (PFRS 10) 31 1
Consolidated Financial Statement in Subsidiary (Date of acquisition/Subsequent to date of acquisition (At cost, in accordance with PAS 39, and equity method)
(Net income, dividends, amortization and impairment of goodwill; With intercompany transactions (inventories, land and depreciable assets))
Determination of: Net income; Attribution to Equity Holders of Parent/ Controlling or Parents Interest (Non-controlling Interest; Consolidated/ Group)
REST in JESUS
2 3 4 5 6 7 8
Mock Exams Mock Exams Mock Exams Mock Exams REST in JESUS
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16 17 18 19 20 21 22
23 24 25 26 27 28 29
UNSCHEDULED
Foreign Currency Transactions Management Consultancy Corporate Rehabilitation * AFAR
Without hedging activities (import, export, Definition of Terms Not for profit Orgs
lending, and borrowing transactions) Management Consultancy Practice by Stay Order VHWO ; Hospitals and other
Certified Public Accounting (CPAs) PRINCIPLES OF TAXATION *Exemption from income tax of
Hedging Activities: Hedging Foreign Receiver health care organizations;
Nature of management consultancy Nature, scope, classification, and qualified senior citizens *Tax
Currency Exposures Rehabilitation Plan
essential characteristics
Colleges and Universities;
engagements Contents of Petition and other types of incentives for qualified Obligations
Others such as churches,
Foreign Currency Forward Contacts Professional attributes of management Principles of sound tax system establishments selling goods and Sources of obligations and their
Rehabilitations museums, fraternity
9.2.1.1 Hedges where hedge accounting consultants concepts
Limitations on the power of taxation association, etc. services to senior citizens
is Not Required (Undesignated Hedges) Areas, stages and management of Law
Tax evasion vs. tax avoidance
9.2.1.1.1 Exposed Asset (Import) or management consultancy engagements Contracts
Situs/place of taxation **Tax incentives for qualified
MAS:
Management Accounting Concepts & Macroeconomics (national
Techniques for Planning & Control economic issues and measures
Financial Management Cost terms, concepts and behavior of economic performance such
Objectives and Scope of Financial Nature and classification of costs as GDP; unemployment and
Analysis of cost behavior (variable, fixed,
Management
Nature, purpose and scope of financial semi-variable/mixed, step-cost)
inflation; fiscal and monetary Duties of obligor in
policies; international trade and
management Splitting mixed cost (high-low, scatter
foreign exchange rates) obligation to do or not
Role of financial managers in investment, graph, least-squares regressions)
operating and financing decisions
to do