ACCOUNTING SUBJECT FAR

Major Topic
Sub Topic 50 EASY MOD HARD
FINANCIAL ACCOUNTING AND REPORTING 1 10 EASY(5) MOD(3) HARD(2)
Conceptual Framework 1
Purpose 1
Cash and Cash Equivalents 1
Classification 1
Receivables 1
Journal Entry 1
Inventories 1
FIFO 1
Investment at Fair Value 1
Debt Investments 1
Investment at Amortized Cost 1
Change in Business Model 1
Investment in Associates 1
Equity Method 1
Property, Plant and Equipment 1
Revaluation 1
Intangible Assets 1
Subsequent Measurement 1
Impairment of Non-financial Assets 1
Not Reversed 1
10 5 3 2

FINANCIAL ACCOUNTING AND REPORTING 2 10 EASY(5) MOD(3) HARD(2)

Current Liabilities, Accrual and Deferrals 1
Customer Loyalty Program 1
Provisions 1
Recognition 1
Bonds Payable 1
Bond Issuance Costs 1
Compound Financial Instruments 1
Interest Expense 1
Leases 1
Period Costs 1
Accounting for Income Tax 1
Deferred Tax Expense 1
Employee Benefits 1
Short-term Employee Benefits 1
Shareholders Equity 1
Disclosures 1
Share-Based Compensation 1
Based on condition - Y2 1
Basic and Diluted Earnings per Share 1
with Convertible bonds 1
10 5 3 2

FINANCIAL ACCOUNTING and REPORTING 3 30 EASY(15) MOD(9) HARD(6)

Statement of Financial Position 3
Classification 1
Working Capital 1
Reported as Assets 1
Statement of Comprehensive Income 3
Transaction Approach 1
Cost of Goods Sold 1
Comprehensive Income 1
Statement of Cash Flow 3
Purpose 1
Cash Flow from Operating 1
Cash Flow from Investing 1
Notes to Financial Statements 2
Events after Reporting Period 1
Significant Accounting Policies 1
Accounting Changes 3
Classification of Accounting Changes 1
Change in Accounting Policy 1
Correction of Error 1
Interim Reporting 3
Scope 1
Quarterly Reporting 1
Comprehensive 1
Single Entry, Cash Basis & Accrual Basis 3
Single Entry 1
Accrual to Cash 1
Cash to Accrual 1
Operating Segments 3
Quantitative Threshold 1
Revenue Test 1
Segment Revenue 1
Non-current Assets Held for Sale 3
Recognition Criteria 1
Discontinued Operations 1
Classification 1
Hyper-inflation 2
 Loss in Purchasing Power 1
Indication of Inflation 1
Small and Medium Enterprise 2
Equity Method 1
Public Accountability 1
30 15 9 6
 FOURTH YEAR
ACCOUNTING SUBJECT AFAR
Major Topic
Sub Topic 50 EASY MOD HARD
ADVANCED ACCOUNTING 1 10 EASY(5) MOD(3) HARD(2)
Partnership Formation 1
Cash, Non-cash, Assumption of Debt 1
Partnership Operation 1
Basic Concepts 1
Partnership Dissolution 1
By Purchase 1
Partnership Liquidation 1
Second and Third payments 1
Installment Sales 1
Multiple Year 1
Construction Contracts 1
Cost Recovery Method 1
Home Office, Branch and Agency Accounting 1
Combined Net Income 1
Joint Arrangements 1
Characteristics 1
Insurance Contracts 1
Scope 1
Build-Operate-Transfer 1
Scope 1
10 5 3 2

ADVANCED ACCOUNTING 2 10 EASY(5) MOD(3) HARD(2)

Accounting for Business Combination 2
Basic Concepts 1
Partial Acquisition 1
Consolidation at Date of Acquisition 1
Goodwill 1
Consolidation - Subsequent Date 1
Comprehensive 1
Corporate Liquidation 1
Amount recoverable by partially secured 1
Effects of Changes in the Foreign Exchange Rates 2
Functional Currency 1
Value of the Asset 1
Foreign Operation and Translation 1
Cost of Goods Sold 1
Derivatives and Hedging 2
Firm Commitment 1
Options
Call Option - Total Gain/Loss 1
10 5 3 2

COST ACCOUNTING 20 EASY(10) MOD(6) HARD(4)

Job Order Costing 4
Over/Under Applied 1
Predetermined Overhead Rates 1
Total Cost of Specific Job 1
Rework - Unit Cost 1
Joint and By Product Costing 3
Allocation Method 1
Physical Measurement Method 1
Reduction of Joint Cost 1
Activity Based Costing 3
Cost Driver 1
Work in Process 1
Set-up Cost 1
Standard Costing 4
Total Variance 1
DM Quantity Variance 1
Reconstruction of Accounts 1
Uncontrollable Variance 1
Just in Time and Backflush 1
Ending Inventories 1
Process Costing 5
Disposition of Normal Loss 1
Transferred0-in Costs 1
Conversion 1
AVE - Cost per EUP 1
Cost of Finished Goods 1
20 10 6 4

PARTNERSHIP AND CORPORATION ACCOUNTING 10 EASY(5) MOD(3) HARD(2)

General Principles in Partnership 1
Corporation vs Partnership 1
Partnership Formation 1
Capital after Formation 1
Partnership Operation 1
Weighted Average Capital 1
Partnership Dissolution 1
Correction of Error 1
Partnership Liquidation 1
 Loss absorbed by partner 1
Basic Concepts 2
Par Value 1
Services Rendered 1
Dividends 1
Cumulative, fully participating 1
Retained Earnings 1
Retained Earnings balance 1
Book Value per Share 1
Cumulative and participating 1
NOTE: these topics are merged to Advanced Accounting 1 an10 5 3 2
ACCOUNTING SUBJECT AUDITING
Major Topic
Sub Topic 50 EASY MOD HARD
AUDITING THEORY AND PRACTICE 50 EASY(25) MOD(15) HARD(10)
Overview and Professional Practice of Accountancy 2
Basic Concepts 1
Self-Review Threat 1
Client Acceptance and Retention 1
Purpose 1
Audit Planning 3
Audit Risk 1
Inherent Risk 1
Control Environment 1
Internal Control 2
Establishing Internal Control 1
Segregation of Functions 1
Test of Control 2
Basic Concepts 1
Purpose 1
Audit Objectives 2
Scope of an Audit 1
Test of Details of Balances 1
Audit Sampling 2
Non-Sampling Error 1
Attribute Sampling 1
Audit of Cash 5
Bank Reconciliation 1
Cash Shortage 1 1
Accountability 1
Audit of Receivable 5
Effect on Net income 2
Units Sold 1
Confirmations 1 1
Adjusting Entries 1
Audit of Inventories 5
LCNRV 1
Cut-off Tests 4
Audit of Liabilities 5
Accounts Payables 1
Provisions 1
Accruals 1
 Finance Lease 1
Bonds Payable 1
Audit of Shareholders Equity 5
Share Capital Account 1
Stock Sppreciation Rights 1
Dividends 1
Retained Earnings 1
Shareholders' Equity 1
Audit of Property, Plant and Equipment 5
Initial Recognition 1
Derecognition 1
Acquisition by Exchange 1
Depreciation 1
Property, Plant and Equipment Balance 1
IT Audit 2
General Control 1
Input Controls 1
Standard Audit Report 2
Basic Element 1
Unqualified Opinion 1
Audit Related Services 2
Compilation and Agreed-upon Procedures 1
Environmental Performance Report 1
50 25 15 10
ACCOUNTING SUBJECT TAXATION
Major Topic
Sub Topic 50 EASY MOD HARD
FINANCIAL ACCOUNTING AND REPORTING 1
TAXATION 50 EASY(26) MOD(14) HARD(10)
General Provisions 5
Public Purpose 1
Inherent Powers of the State 1
Purpose of Taxation 1
Police Power vs Taxation 1
Double Taxation 1
Tax on Individual 7
General Provision 1
Capital Gains Tax 1
Deductible Loss 1
Non-resident Alien NETB 1
Resident Citizen 1
Cost of Life or Health Insurance 1
Sale or Exchange of Capital Assets 1
Tax on Corporation 6
Dividend received by a citizen 1
Quarter Income Tax 1
Minimum Corporate Income Tax 1
Improperly Accumulated Earnings Tax 1
Non-resident Foreign Operation 1
Predominance Test 1
Tax on Partnership, Estate and Trust 2
Estate 1
Business Partnership 1
Remedies of the Taxpayer 5
Letter of Authority 1
Compromise 1
Response time 1
Application 2
Estate Tax 6
Within and without 1
Proceeds of Life Insurance 1
Not Included in Gross Estate 1
Conjugal Partnership of Gain 1
Funeral Expenses 1
Vanishing Deductions 1
Donors Tax 6
Resident Citizen 1
Non-resident Alien 1
Mortgage on Property 1
Shares of Stock 1
Obligations 1
Filing 1
Value Added Tax 7
Gross Receipts from Prefessional Prac 1
Output VAT 1
Zero-Rated Sales 1
Presumptive Input VAT 1
Export Sales 1
Sale to Government 1
Filing and Registration 1
Other Percentage Tax 6
Overseas Communication Tax 1
Franchise 1
Gross Receipt Tax 1
Tax on Winnings 1
Transport of Pasengers 1
Initial Public Offerings 1
50 26 14 10
ACCOUNTING SUBJECT MAS
Major Topic
Sub Topic 50 EASY MOD HARD
MANAGEMENT ACCOUNTING 40 EASY(20) MOD(12) HARD(8)
Basic Concepts 2
Management Accounting vs Financial Accounting 1
Management Accountant 1
Cost Classification Concepts 3
Cost Behavior 1
Regression Analysis 1
Hi-Low Method 1
Cost-Volume-Profit Analysis 4
CVP Graph 1
Sensitivity Analysis 1
Breakeven Point in Peso 1
Margin of Safety 1
Variable-Absorption Costing 3
Difference in Profit 1
Absorption costing 1
Net Income 1
Standard Costing 3
Actual Direct labor rate 1
Non-controlable Variance 1
Controlable Variance 1
Relevant/Incremental Analysis 4
Opportunity Costs 1
Make or Buy 1
Special Order 1
Limitation 1
Comprehensive Budgeting 3
Purpose of Budget 1
Sales Forecast 1
Accounts Receivable Budget 1
Activity-Based Costing 2
Features of Activity-Based Costing 1
Activity Levels 1
Risks and Returns 2
Financial Leverage 1
Expected rate of return 1
Capital Budgeting 3
Capital Budgeting Method 1
 Payback Period 1
Internal Rate of Return 1
Financial Statement Analysis 4
Limitation of Ratio Analysis 1
Quick Ratio 1
Degree of Financial Leverage 1
Times Interest Earned Ratio 1
Working Capital Management 3
Credit and Collection Policy 1
Short-term Financing 1
Effective Rates 1
Performance Measurement 2
Decentralization 1
Residual Income 1
Quantitative Techniques 2
Critical Path Method 1
Probability of Outcomes 1
40 20 12 8

FINANCIAL MANAGEMENT 10 EASY(5) MOD(3) HARD(2)

Time Value of Money 2
Compounding 1
Ordinary Annuity 1
Risk and Rate of Returns 1 1
Cost of Capital 2
Weighted Average Cost of Capital 1
CAPM 1
Capital Budgeting 2
Net Present Value 1
Sensitivity Analysis 1
Capital Structure and Leverage 1
Financial Leverage 1
Financial Planning and Forecasting 2
Strategic Planning 1
Utilization of Assets 1
10 5 3 2
ACCOUNTING SUBJECT RFBT
Major Topic
Sub Topic 50 EASY MOD HARD
REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS 50 EASY(25) MOD(15) HARD(10)
Law on Obligations 5
Alternative Obligations 1
Conditional Obligation 1
Loss of the Thing Due 1
Compensation 1
Comprehensive 1
Law on Contracts 5
Relativity of Contracts 1
Unenforceable Contracts 1
Statutes of Fraud 1
Basic Concepts 1
Void Contracts 1
Law on Partnership 5
Universal Partnership 1
Comprehensive 1
Designation of Profit and Loss 1
General Partner 1
Industrial Partner engaged in Business 1
Corporation Code 5
Legal Status 1
Increase in capital stock 1
Removal of a Director 1
Management Contract 1
Non-profit Educational Institution 1
Law on Sales 5
Characteristics 1
Object of Sale 1
Barter 1
Application 1
Liability of the Vendee 1
Contract of Agency 5
Characteristics 1
General Power of Attorney 1
Special Power of Attorney 1
Authority vs Instruction 1
Application 1
Negotiable Instruments 20
Form 1
Payable to bearer 1
Forgery on the Instrument 1
Legal Tender 1
Negotiability 1
Not payable at a determinable future 1
Liabilities of the maker 1
Acceptance for Honor 1
Alteration 1
Holder in Due Course 1
Requisite 1
Application 1
Accomodation party 1
Not Valid 1
Restricted endorsement 1
Facultative Endorsement 1
Blank endorsement 1
Application 1
Presentment for payment 1
Comprehensive 1
50 25 15 10