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  • CPA Board Exam Syllabus 2016

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    Aujian Arenas
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    Updated Syllabus for CPA Board Examination

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    Updated Syllabus for CPA Board Examination

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    © All Rights Reserved
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    Marcar por contenido inapropiado
    205 vistas52 páginas

    CPA Board Exam Syllabus 2016

    Cargado por

    Aujian Arenas
    Updated Syllabus for CPA Board Examination

    Copyright:

    © All Rights Reserved
    Descargue como PDF o lea en línea desde Scribd
    Marcar por contenido inapropiado
    de 52
    Republic of the Philippines Professional Requlation Commission Professional RegueidH} Ward of Accountancy Resolution No. 114 Series of 2016 AMENDMENTS TO RESOLUTION NOS. 2015-274 AND 2015-275 ON THE SYLLABI AND TABLES OF SPECIFICATIONS (TOS) OF THE SUBJECTS IN THE BOARD LICENSURE EXAMINATION FOR CERTIFIED PUBLIC ACCOUNTANTS (BLECPA) WHEREAS, the Professional Regulatory Board of Accountancy (Board) issued Resolution No. 2015-262 prescribing the six (6) new subjects of the Board Licensure Examination for Certified Public Accountants (BLECPA), as follows: Financial Accounting and Reporting; Advanced Financial Accounting and Reporting; Management Advisory Services; Auditing; Taxation; and Regulatory Framework for Business Transaction; WHEREAS, the Board subsequently issued Resolution Nos. 2015-274 and 2015-275 on the ) syllabi and Tables of Specifications (TOS) of the six (6) new subjects of the BLECPA; “WHEREAS, the changes in the BLECPA subjects shall be initially applied in the May 2016 schedule of the licensure examinatior WHEREAS, it was noted during stakeholders dialogue that the topics: (1) Code of Ethics for Professional Accountants in the Philippines; (2) Republic Act No. 9298, otherwise known as “Philippine Accountancy Act of 2004"; (3) and Effective Communication to Stakeholders caayee not reflected in the syllabi and TOS of the six (6) new subjects of the BLECPA; WHEREAS, the Board acknowledges the importance of these three (3) topics In determining the entry-level competence of new CPAs, and as such, should be made integral components of the BLECPA; WHEREFORE, in view hereof, it is hereby RESOLVED that amendments be made to the syllabi and TOS of the aforementioned subjects of the BLECPA, to reflect the following changes: 1) To include the topic Effective Communication to Stakeholders in all of the six (6) subjects of the BLECPA; and 2) To include the topics Code of Ethics for Professional Accountants in the Philippines, Republic Act No. 9298 or the Philippine Accountancy Act of 2004 and its Implementing Rules and Regulations (Board Resolution No. 71, Series of 2004) in the subject Auditing. FURTHER RESOLVED, that the individual subjects in the BLECPA be composed of two (2) parts with the corresponding percentage weights Subject Theoretical ___Competence Financial 30% 70% Accounting and Reporting ‘Advanced 30% 70% Financial Accounting and Reporting | Management 30% 70% Advisory Services Auditing 50% 50% Taxation 30% 70% Regulatory Framework for 70% 30% Business Transaction P. PAREDES ST, CORNER N. REYES ST., SAMPALOC, MANILA, PHILIPPINES. 1008 P.O, BOX. 2038, MANILA 20 [AMENDMENTS TO RESOLUTION NOS. 2018-274 AND 2015275, (ON THE" SYLLAGI AND TABLES OF SPECIFICATIONS (TOS) OF THE ‘SUBJECTS IN THE BOARD LICENSURE EXAMINATION FOR (CERTIFIED PUBUC ACCOUNTANTS (BLECPA) This Resolution shall take effect immediately after its publication in the Official Gazette or in any newspaper of national circulation. Let a copy of the same be further furnished the U. P. Law Center, Commission on Higher Education (CHED), all universities and schools offering B. S. in Accountancy, Board, Office of the Secretary to the Professional Regulatory Boards, Records and Management Division, Rating Division, Legal and Investigation Division, all Regional Offices and such other offices for information and guidance. Done in the City of Manila, this 25thray of April 2016. JOEL L. TAN-TORRES / Chairman kL? GLORIA T. BAYSA Vice Chairman GERARD B. SANVICTORES ELISEO A AURELLADO Member Member B. PADILLA CONCORDIO 4 QUISAOT ember Membpr ARLYN . VILLANUEVA Member Rk to Botta ATTY. LOVELIKA T. BAUTISTA Officer-in-Charge Office the Secretary to the Professional Regulatory Boards APPROVED BY: me fal TEOFILO S. PILANDO, JR. Chairman ANGELINE T. CHUA CHIACO Commissioner 0-CH/0-C0V/0-COINPAB-ACC/O-LGLID-SAB TSP/ATCCIYDRULT/ERILTS TABLE OF SPECIFICATIONS FINANCIAL ACCOUNTING AND REPORTING Topics/Outcomes The examinees must be abl Knowledge, Skils, Values (KSV) (30%) Degree of Independence (20%) Remembering | Understanding Development of Financial Reporting Framework and Standard Setting Bodies, Regulation of the Accountancy Profession 1.1 | Identity the functions of the IASB or the FRSC. Accounting Process 24 Adjusting Entries 2.1.1. Apply accrual basis for adjusting entries (accrual or deferral) 2.2 Accounting Cycle 2. rate the accounting cycle 3.1. | Conceptual Framework 3.4.1. Describe the basic objective of nancial statements 3.1.2 _Inlerpret the qualitative characteristics of financial information 3.1.3 _ Define and distinguish the elements of financial statements 3.1.4 _ Distinguish financial capital from physical capital 3.2. | Presentation of Financial Statements 3.2.1 Describe any of the general features of financial statements (TOA) 3.2.2 Compute current and non-current assets 3.3.3 Compute current labilties and non-current labiliies 3.3.4 Compute prof from continuing operations 3.3.5 Compute revenues, expenses, or profi or loss from discontinued operations 3.3.6 Compute cash flows ftom operating, investing or financing activities 9 7 337 Distinguish adjusting events from non-adjusting events after the reporting period Financial Assets 14.28% 4.4 Cash and Cash Equivalent “44.4. Describe the nature and measurement of cash and cash equivalents 4.4.2 Reconcile bank balance and book balance of cash. “42. | Loans and Receivables ( Financial Assets at amortized Cost) 4.21 Describe the nature and classification on the financial statements of receivables 4.2.2 Measure trade receivables and long-term receivables. 73. | Investments in Debt Instruments and Investments in Equity instruments “43.1 Identify the nature of nancial assets included inthe classification Financial ‘Assets at Fair Value through Profit or Loss. 43.2. Formulate entries for recognition, measurement and disposal of Equity ‘Securities at Fair Value through Other Comprehensive Income 43.3 Apply the business model test for classifying financial assets at Fair Value through Other Comprehensive Income (Debt Securities) 4.34 Describe the nature of debt investments that are classified as Held to Maturity Securities (old IAS) or at Amortized Cost (new IFRS) 4.4 | Investments in Associates 44.2 Apply the equity method of accounting for investment in associates. 435 | Basic Derivatives (excluding Hedge Accounting) 4.5.4. Describe the basic understanding of derivatives. ‘4.5.2 _ Formulate the basic entries for recognition, measurement of derivatives. 50 Non-Financial Assets 21.83% 5.1__ Inventories [5.1.1 Describe the nature of inventories using the definition of AS 2 5.1.2 Compute the cost of inventories based on FIFO, weighted average, specific identification method. : 5.1.3 Apply te lower of cost and net realizable value for measurement of inventories or cost of goods sold 5.1.4 Use estimating procedures (average retail inventory or gross profit ‘method in measuring inventories shortage or loss from catastrophe, 52. Property, Plant and Equipment 5.2.1. Describe the nature of property, plant and equipment and the applicable recognition princi recognition, measurement and derecognition 5.2.2 Determine the intial recognition basis for PPE acquired for cash purchase, ‘exchange, deferred payment, self construction or donation 5.2.3 Apply an appropriate depreciation method to measure carrying value of property plant and equipment. 5.2.4 Evaluate whether an item of PPE is impaired. 53. Investment Property '5.3.1_Describe the nature of investment property 5.3.2 Apply the measurement principles applicable to investment property 54 Intangibles le assets and the applicable recognition, measurement and

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