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Tesda Competency Reviewer, DepEd updates, L.E.T coverage

THURSDAY, JUNE 30, 2016 BLOG ARCHIVE

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t 2016 (2)
t June (2)
t Jun 30 (1)
The BOOKKEEPING NC 3 Qualification consists of competencies that a person must achieve to enable
Bookkeeping
him/her to journalize transactions, post transactions, prepare trial balance, prepare financial reports and review internal NC III
control system. coverage
The following are qualified to apply for assessment and certification: and
reviewer

Graduates of formal, non-formal and informal including enterprise-based training program (for example those who Jun 01 (1)
graduated from Business Administration, accountancy and commerce can take the exam without training)Experienced
Workers (wage employed or self-employed) (you just need to submit evidence of your working
experience e.g Certificate of Employment or Service Record) SEARCH THIS BLOG

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The assessment/ bookkeeping exam will be composed of two parts.

The first onewill be a mix of multiple choice and a little bit of problem solving and true or false. Most FEATURED POST

of it were terms used in bookkeeping and the internal control system. Some of it came from these terms in Bookkeeping NC
Trainers Regulation in Bookkeping NC III :
III coverage and
reviewer

The BOOKKEEPING
NC 3 Qualification
consists of
Account is a formal record that represents, in words, money or other unit of measurement, certain resources, claims to such competencies that a
person must achieve
resources, transactions or other events that result in changes to those resources and claims
to enable him/her to
journalize
transactions, post ...
Accounting is the recording and reporting of financial transactions, including the origination of the transaction, its
recognition, processing, and summarization in the FINANCIAL STATEMENTS
FOLLOW ME FOR
MORE TESDA
COURSE REVIEWER,
Accounting equation is assets equals liabilities plus equity. (A = L + E) DEPED UPDATES AND
LET COVERAGE

Email addr Submit

Accounting period/year is a period of 12 consecutive months chosen by an entity as its ACCOUNTING period which may ess...
or may not be a calendar year.
PUBLISHED WORKS

2017 (3)
Accounts Payable is the amount owed to a CREDITOR for delivered goods or completed services
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t June (2)
t Jun 30 (1)
Accounts receivable are amounts collectible from its customers. It is the claim against a DEBTOR for an uncollected
amount, generally from a completed transaction of sales or services rendered.
Bookkeeping
NC III
coverage
and
Adjusting journal entries are accounting entries to account for a periods changes, omissions or other financial data required reviewer
to be reported "in the books" Jun 01 (1)

Adjusted Trial Balance reflects totals after the adjusting entries are posted to the general ledger.

Asset represents future benefit to the company with reliable measurement

Accounting Manual is a document prepared to provide bookkeepers with direction and guidance in connection with those
bookkeeping requirements of entities

Balance is the Sum of DEBIT entries minus the SUM of CREDIT entries in an ACCOUNT. If positive, the difference is
called a DEBIT BALANCE; if negative, a CREDIT BALANCE

Balance Sheet reports the financial position at a point in time (end of the quarter or year).

Bookkeeping is the recording of all financial transactions undertaken by a business (or an individual). A bookkeeper (or
book-keeper), sometimes called an accounting clerk in the is a person who keeps the books of an organization. The
organization might be a business, a charity or even a local sports club

Business is the social science of managing people to organize and maintain collective productivity toward accomplishing
particular productive goals, which is usually to generate profit

Capital is called equity.

Cashusually refers to money in the form of liquid currency, such as banknotes or coins.

Cash Payments Journal is a book used to record all payments made in cash such as for accounts payable, merchandise
purchases, and operating expenses; also termed cash disbursements journal

Cash Receipts Journals is a book used to record all collections made in cash such as for accounts receivable , merchandise
sold, and interest income.

Chart of Accounts is a systematic listing of all accounts used by an entity.

Closing entries are prepared after the financial statements have been completed.

Corporation - is a form of doing business pursuant to a charter granted by government.

Credit (cr) - means an entry to the right hand side of an account. Entry on the right side of a DOUBLE-ENTRY
BOOKKEEPING system that represents the reduction of an ASSET or expense or the addition to a LIABILITY or
REVENUE. (See DEBIT.)

Debit (dr) - means an entry to the left hand side of an account. Entry on the left side of a DOUBLE-ENTRY BOOKKEEPING
system that represents the addition of an ASSET or expense or the reduction to a LIABILITY or REVENUE. (See CREDIT.)

Depreciation is the process of allocating the cost of property, plant and equipment assets to the periods that will benefit
from its use

Dividend income is income received from ownership shares in a corporation. A dividend is a distribution to a corporations
stockholders usually in cash;

Documents are bases of recording transactions in bookkeeping. This may include but not limited to sales invoice and
official receipts.

Drawing is when a business proprietor draws money for personal needs

Equity represents the residual claims of owners

Expenses represent the outflow of assets (or increases in liabilities) due to a company’s operating activities.

Financial statements report the business activities during the year and the financial condition at the end of the year. It is
also the presentation of financial data including BALANCE SHEETS, INCOME STATEMENTS and STATEMENTS OF
CASH FLOW, or any supporting statement that is intended to communicate an entity's financial position at a point in time
and its results of operations for a period then ended.

Generally accepted accounting standards (GAAP) determine what to record, when to record, and amount to record. It is also
the rules, and procedures necessary to define accepted accounting practice at a particular time.

General Journal is the most basic of journals. It is a chronological list of transactions.

General Ledger is the collection of all ASSET, LIABILITY, owners EQUITY, REVENUE, and expense accounts. This is a
book of accounts in which data from transactions recorded in journals are posted and thereby classified and summarized.
Also called ledger.

Income is the inflow of REVENUE during a period of time. This also money received by a person or organization because
of effort (work), or from return on investments.

Income Statement shows the components of net income in detail. It is the summary of the effect of REVENUES and
expenses over a period of time.

Income Taxes Payable is income taxes due including current portion of deferred taxes.

Interest Income includes amounts from interest on all interest-bearing deposits and accounts.

Internal Control is the process designed to provide reasonable assurance regarding achievement of various management
objectives such as the reliability of financial reports.

Inventories are products on hand for sale to customers

Journal is a book where all transactions are initially recorded.

Journal entry are the logging of business transactions and their monetary value into the t-accounts of the accounting
journal as either debits or credits. A journal entry is usually backed up with a piece of paper; a receipt, a bill, an invoice, or
some other direct record of the transaction; making them easy to record and to maintain traceability for each transaction.

Journalize transactions is the process of recording a business transaction in a journal.

Ledger is a tool used for classifying and summarizing information about increases, decreases, and balances of items in the
chart of accounts.

Liability represents obligations, payables or debts owed. DEBTS or obligations owed by one entity (DEBTOR) to another
entity (CREDITOR) payable in money, goods, or services

Loans Payable is the account title used to record amounts to be paid for borrowed money. This is also called Notes Payable.

Notes Payable is the account title used to record amounts to be paid for borrowed money and evidenced by a promissory
note. This is also called Loans Payable.

Official receipts is a document issued to acknowledge receipt of cash.

Partnership is a form of entity with two or more owners. Relationship between two or more persons based on a written, oral,
or implied agreement whereby they agree to carry on a trade or business for profit and share the resulting profits.

Philippine Financial Reporting Standards often known as PFRS are a set of accounting standards. They are issued by the
Financial Reporting Standards Council. [FRSC].

Post Closing Trial Balance is balance sheet in trial balance form.

Preliminary Trial Balance is a listing of the accounts in the general ledger and their balances as of a specified date. A trial
balance is usually prepared at the end of an accounting period and is used to see if additional adjustments are required to
any of the balances.

Posting is the process of transferring figures from the journal to the ledger accounts

Property Plant and Equipment are assets used in the production of goods and services

Purchase invoice is a bill from a vendor for specific materials or supplies furnished or services rendered. It is called sales
invoice from the point of view of the seller.

Purchases Journal. This is a payable system involves a Purchases Journal -- in which all incoming merchandise invoices
are recorded.

Ratio Analysis is the comparison of actual or projected data for a particular company to other data for that company or
industry in order to analyze trends or relationships

Receivables are amounts of money due from customers or other DEBTORS

Rent expense is the expenditure made to cover the rental for the premises.

Rent income is money received by a person or organization from rental of premises and/or other assets.

Retained Earnings are profits of the business that have not been paid out to the owners as of the balance sheet date.

Revenue represents the inflow of assets (or decrease in liabilities) due operating activities. This may include sales of
products, merchandise, and services; and earnings from INTEREST, DIVIDEND, rents.

Routine journal entries Recurring financial activities reflected in the accounting records in the normal course of business.

Salaries/wages expense is an account title used to record salaries, wages, and benefits an employee receives from an
employer.

Sales Journal This is a receivables system involves a Sales Journal -- in which all invoices outgoing to customers are
recorded.

Sales invoice is a document issued by a vendor for specific materials or supplies furnished or services rendered. It is called
purchase invoice from the point of view of the seller.

Sole Proprietorship is a form of entity with one owner and the simplest possible form of business.

Statement of Cash Flow reports sources and uses of cash. This is one of the basic financial statements that are required as
part of a complete set of financial statements prepared in conformity with generally accepted accounting principles. It
categorizes net cash provided or used during a period as operating, investing and financing activities, and reconciles
beginning and ending cash and cash equivalents

Statement of Changes in Equity explains the changes in contributed capital and retained earnings during the period.

Subsidiary Ledger is a group of subsidiary accounts the sum of the balances of which is equal to the balance of the related
control account in the general ledger

Transactions and events are recorded as they occur, recorded even if cash is not received or paid and affects the accounting
equation.

Trial balance confirms that accounts are still in balance.

Utilities expense is an account title used to record amount incurred on heat, light, water, and power.

Vouchers is a written record of expenditure, disbursement, or completed transaction.

Worksheet is a document or schedule in which a bookkeeper uses to gather information to substantiate an account
balance.

The second part will be the journalizing of transactions, preparing of trial balance
and financial report and the critical aspects that the assessor will consider in your exam

Journalizing of transactions

1.1 Prepared chart of accounts

1.2 Analyzed documents

1.3 Prepared journal entry

Posting of transactions
1.1 Prepared ledger

1.2 Transferred journal entries

1.3 Summarized each ledger account

Preparing of trial balance

1.1 Transferred ledger balances

1.2 Summarized trial balance

1.3 Prepared trial balance

Financial report
May include but are not limited to:

1.1 Balance sheet

1.2 Income statement

1.3 Cash Flow Statement

If you have questions please feel free to comment and follow me. Good Luck!!!

Posted by Love ,Anxiety and Teaching experience at 6:32 PM

nestor penalver June 30, 2016 at 7:04 PM

hi there! thanks for writing this. Such a big help. should you wish to include the process of filing
and application for this? and so with the list of requirements?

regards,
nestor
Reply

anxiety and my teaching experience June 30, 2016 at 7:12 PM

ahemmm here are the requirements sir Nestor :)
copy of NSO birth Certificate and Transcript of Records
4 pcs Passport size Picture
P500 fee. You are required to personally register on your nearest TESDA office
Reply

Replies

maria zheena samson July 25, 2017 at 5:05 PM

pwede po bang magtake kahit hindi ka nag aral sa mga intitution ng tesda for
bookkeeping? Dito po kasi samin need pa daw po i-enroll yung 3 months period bago
kame mkpgtake

Love ,Anxiety and Teaching experience October 20, 2017 at 2:12 PM

yes you can take as long as you graduated from any related accounting course.

Reply

Cee Morales July 14, 2016 at 9:09 PM

Kailangan po ba graduate na talaga? What if 3rd year BSA student ka pa lang, hindi pwedeng
kumuha?
Reply

Replies

Bookkeeping NC III exam Review July 17, 2016 at 9:31 PM

hindi po pwede kumuha. maliban nalang kung may kasalukuyang trabaho ka na related
sa accounting or bookkeeping magpakita kalang nang ng service record or certificate of
employment. those who took and graduated from the Bookkeeping NC III training can
also apply for assessment even if they are not college graduates

Whayne July 28, 2016 at 5:06 PM

Pwede po ba nag-take kahit hindi ka nag-enroll sa review?

Unknown August 3, 2016 at 11:30 PM

alam ko po pwedeng magtake kahit wala kang training in any training center. Kung
gusto mo. pero mas better kung may review ko about Bookkeeping.

Bookkeeping NC III exam Review August 7, 2016 at 11:18 PM

GOOD DAY @UNKNOWN MAYBE YOUR REFERRING ONLY FOR TRAINEE ENTRY
REQUIREMENTS
but if you want to enroll here is the basic requirements for Trainees or students wishing
to gain entry into these qualifications should possess the following requirements:

• Must be able to communicate effectively both orally and in written form

• Must be physically, emotionally, psychologically and mentally fit
• Must be able to perform basic mathematical computations

Bookkeeping NC III exam Review August 7, 2016 at 11:19 PM

BUT FOR THOSE WHO WANT TO TAKE THE ASSESSMENT HERE IS THE BASIC
REQUIREMENT:
The following are qualified to apply for assessment and certification FOR
BOOKKEEPING NC III:

4.3.1 Graduates of formal, non-formal and informal including enterprise-based training

programs

4.3.2 Experienced Workers (wage employed or self-employed)

Reply

Bookkeeping NC III exam Review August 12, 2016 at 5:59 AM

@whayne yes you may take the exam as long as your a graduate of a course related to
accounting or if your work is related to acounting
Reply

Replies

Ryan Michael June 12, 2017 at 7:28 PM

pano po if under grad ng accounting?

Reply

Noel Docena September 4, 2016 at 7:53 AM

Associate Grad po ako pero mayroon po kaming subject na basic accounting, pwede po ba ako
kumuha ng exam sa Tesda? thanks po!
Reply

Replies

Love ,Anxiety and Teaching experience October 15, 2016 at 1:34 AM

im sorry im not sure. its best that you visit any nearby TESDA ofice they are willing to
help. thank you for commenting

Reply

Keziah Quir October 3, 2016 at 12:16 AM

Hi there, maybe this is a bit too much to ask but can you also post how these items in second part
looks like? Just a few examples if you could hopefully. Thanks a lot!
Reply

Replies

Love ,Anxiety and Teaching experience October 15, 2016 at 1:39 AM

hello too @keziah. im sorry i cant disclose those parts. but i can give you a hint. during
my assessment the items were more on Manufacturing and sole proprietorship good
luck!!!

Reply

Unknown October 27, 2016 at 1:43 AM

When will be the schedule of this exam?
Reply

Karl Johnson October 27, 2016 at 1:44 AM

When will be the schedule of this exam?
Reply

Replies

Love ,Anxiety and Teaching experience October 29, 2016 at 11:38 AM

It actually varies from different branches of Tesda. Its best that you visit any nearby
tesda office. Good luck

Reply

Love ,Anxiety and Teaching experience October 29, 2016 at 11:25 AM

Reply

shara mae balila November 8, 2016 at 1:06 AM

Ilang items po yung exam at ilan po yung dapat makuha para maging competent po
Reply

jochie ramba December 27, 2016 at 9:21 PM

Sa TESDA lang po ba nakakakuha ng NC III? o may skul po na nag ooffer ng ganun?o sa TESDA
lang po nagbibigay ng ganung certificate?
Reply

Replies

Richard Landagan July 10, 2017 at 11:43 PM

La plata science and technology institute is offering BOOKKEEPING NC3 training. For
only 300 pesos you can enrol to our training center accredited by tesda. We are located
at 11e manalo st., sto niño paliparan marikina city. In front of national christian life
college. Open monday to sunday. For inquiries pls call 09475188794, 09171146469,
09226644774, 09159733586,

Reply

Love ,Anxiety and Teaching experience December 29, 2016 at 9:26 AM

yes, only TESDA releases the National Certificate (National Level) if you pass the assessment .
some schools offer the NC and provides certificates of Completion (only school level) to the
graduates whether they pass or not the national assessment
Reply

Love ,Anxiety and Teaching experience December 29, 2016 at 9:27 AM

the items will depend on the set of exam and the passing rate is dependent to the assessor and
the type of assessment..
Reply

Rich O January 16, 2017 at 9:54 AM

Wala po bang adjusting entries na kasama sa 2nd part?
Reply

Replies

Unknown March 13, 2017 at 7:33 AM

Wla sa old assessment

Reply

Unknown January 23, 2017 at 8:36 PM

Good day.. may schedule napoba for this year examination?
Reply

Rochelle Aguirre February 8, 2017 at 10:49 PM

May branch po ng Tesda sa Antipolo City?
Reply

Replies

Richard Landagan July 10, 2017 at 11:41 PM

La plata science and technology institute is offering BOOKKEEPING NC3 training. For
only 300 pesos you can enrol to our training center accredited by tesda. We are located
at 11e manalo st., sto niño paliparan marikina city. In front of national christian life
college. Open monday to sunday. For inquiries pls call 09475188794, 09171146469,
09226644774, 09159733586,

Reply

Unknown February 22, 2017 at 10:12 AM

KAILANG ANG SCHEDULE NG EXAMINATION SA ORMOC CITY, LEYTE?
Reply

jey March 12, 2017 at 8:57 AM

pwede po bang kumuha ng exam kahit current accounting student?
Reply

Replies

Richard Landagan July 10, 2017 at 11:41 PM

La plata science and technology institute is offering BOOKKEEPING NC3 training. For
only 300 pesos you can enrol to our training center accredited by tesda. We are located
at 11e manalo st., sto niño paliparan marikina city. In front of national christian life
college. Open monday to sunday. For inquiries pls call 09475188794, 09171146469,
09226644774, 09159733586. No requirements needed. Kahit sino po pwd mg enrol.

Reply

Irene Ondoy March 20, 2017 at 9:31 PM

Saan po kami pwede mag take ng exam kung taga qc po kami. And ano po sched ng exam for
2017? Thanks po
Reply

Replies

Richard Landagan July 10, 2017 at 11:44 PM

La plata science and technology institute is offering BOOKKEEPING NC3 training. For
only 300 pesos you can enrol to our training center accredited by tesda. We are located
at 11e manalo st., sto niño paliparan marikina city. In front of national christian life
college. Open monday to sunday. For inquiries pls call 09475188794, 09171146469,
09226644774, 09159733586,

Reply

Racquel March 27, 2017 at 9:14 AM

na revised po b exam?
Reply

Diana Comtech May 6, 2017 at 7:51 AM

revised na po ang exam, accounting cycle of merchandising
Reply

KG Software Solution June 8, 2017 at 5:26 PM

Good Morning BS Computer Science ho ako.. Am I qualified to take the NC 3 assessment?
Reply

Replies

Love ,Anxiety and Teaching experience July 28, 2017 at 4:16 AM

yes if you will undergo first into Bookkeeping NC III training but if you will take the exam
without any training then no. Only those who graduate from accountancy and any
related course are qualified

Reply

Unknown June 22, 2017 at 9:51 AM

Good day maam... any tips po sa bago na exam sa bookkeeping... sana meron..
Reply

ace Villalon June 29, 2017 at 4:00 AM

sir pano po kung grade 12 ka po na nasa senior high abm strand pwede po ba?
Reply

Unknown July 10, 2017 at 11:38 PM

La plata science and technology institute is offering BOOKKEEPING NC3 training. For only 300
pesos you can enrol to our training center accredited by tesda. We are located at 11e manalo st.,
sto niño paliparan marikina city. In front of national christian life college. Open monday to sunday.
For inquiries pls call 09475188794, 09171146469, 09226644774, 09159733586,
Reply

Replies

Richard Landagan July 10, 2017 at 11:39 PM

No requirements needed.

Reply

angeljohn Garlit Fernandez July 25, 2017 at 7:21 PM

hi po . . bbigyan po ng certificate kahit hnd po nag enroll? mag eexam lang po
Reply

Love ,Anxiety and Teaching experience July 28, 2017 at 4:13 AM

yes they will give you the certificate as long as you pass the assessment
Reply

jochie ramba August 10, 2017 at 8:14 PM

hi sana makatulong...(yung malapit sa Laguna)
Meron po dto sa Sta.Cruz Laguna na TESDA and kaka inquire ko lang po sa kanila kung
magkano ang assessment fee ang sabi nila P500.00 and 8am - 4pm lang office nila..located sa
kalapit ng NANUTS and malapit din sa Jollibee ipagtanung lang po un NANUTS..
salamat po.. :)
Reply

unel gumilac August 12, 2017 at 7:25 AM

Merchandising na po ba ang latest??? Or manufacturing parin po?
Reply

jhaz Lopez August 16, 2017 at 4:17 PM

Hi...I'm an associate graduate way back in 2007 and worked as account/technical officer in a
microfinance company for 1 1/2 year as a regular staff...you think I can try to take tesda
assessment exam even if I didn't study in any tesda training center?thanks in advance for the
response
Reply

Kyra Mae Aellanis C. Quintero August 17, 2017 at 3:34 PM

Goodmorning :)
Can a graduate of BSAT take the exam? And any update po for the next exam this year would be
of great help.
Thank you!
Reply

Jimmark Flor September 6, 2017 at 8:58 PM

Training dito sa amin sa Negros 5k 290hrs, 1400 ang assessment..
Reply

vench October 19, 2017 at 11:31 PM

Pwedi bang magtrain ha senior high an bookkeeping NC III holder na...kahit wala pang TM po
siya...pls reply po...
Reply

Replies

Love ,Anxiety and Teaching experience October 20, 2017 at 2:09 PM

Bookkeeping NCIII is currently not a part of SHS Curriculum only Accounting Business
and Management

Reply

Jicel Bajo October 23, 2017 at 5:28 AM

Hi pwede pa po bang iclaim yung certificate kahit na 1 year na since nakapasa po ako?
Reply

Replies

Love ,Anxiety and Teaching experience October 28, 2017 at 3:48 PM

yes you may. The expiration date of all tesda certificates are five years

Reply

Mr. R November 27, 2017 at 6:22 PM

Hi who is the author of the book that use to study in bookkeeping NC III?you can give me and
idea please...thank you...
Reply

Replies

Love ,Anxiety and Teaching experience December 3, 2017 at 6:49 AM

Tesda. You can download it on tesda website-'trainers regulation in bookkeeping ncIII'

Love ,Anxiety and Teaching experience December 3, 2017 at 6:50 AM

Tesda. You can download it on tesda website-'trainers regulation in bookkeeping ncIII'

Reply

daliabel salubre December 7, 2017 at 4:56 AM

meron po bang NC III bookeeping assesment this coming 2018?
Reply

daliabel salubre December 7, 2017 at 5:02 AM

kailan po yung next schedule ng assesment sa NC III bookeeping ?
Reply

Replies

Passer_08 December 16, 2017 at 7:46 AM

Pumunta ka nalang sa pinakamalapit na tesda accredited assessment center sa lugar
niyo. :) Sasabihin mismo sayo dun kung kelan ang schedule ng assessment mo kasi
walang fixed na date na ina-announce ang tesda for all assessments. Sometimes, i-a-
accommodate ka pa rin naman kahit mag-isa mong examinee. :) Good luck.

Reply

joemel santiago December 21, 2017 at 6:36 PM

may tanong po ako, grad ako ng accountancy with bookkeeping nc3. anong exam po ba ang
kaylangan para maging bookkeeper ako. thanks.
Reply

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