The Accounting Profession John V. Balanquit johnthecpa.wikispaces.com

The Accounting Profession

John V. Balanquit

johnthecpa.wikispaces.com

Objectives

Student will be able to discuss:• RA 9298• The sectors of accounting practice• The basic board exam subjects• The function of PRC and BoA

Objectives

Student will be able to :• Distinguish the various professional

organizations• Distinguish the various accounting practice

RA 9298

The Philippine Accountancy Act of 2004• Enacted on May 2014• Supereseded PD 692

Sectors of Accounting Practice

• Public Accountancy• Commerce and Industry• Academe/Education• Government

Board Exam Subjects

• Theory of Accounts• Business Law and Taxation• Management Services• Auditing Theory

Board Exam Subjects

• Auditing Problems• Practical Accounting 1• Practical Accounting 2

PRC and BOA

The PRC has the responsibility to regulate the accountancy profession and implement the provisions of RA 9298 through the Board of Accountancy

Professional Organizations

PICPA• Philippine Institute of Certified Public

Accountants• The accredited professional organization

of CPAs

Professional Organizations

• ACPAPP• ACPACI• ACPAE (nACPAE)• GACPA

Branches of Accounting

• Auditing• Bookkeeping• Cost Accounting• Financial Accounting• Financial Management

Branches of Accounting

• Management Accounting• Taxation• Government Accounting• Others

End of Lecture

Thank You!