PROPOSED TABLE OF

SPECIFICATIONS
INCOMING 4TH YEAR QUALIFYING EXAMINATION
 IN CO M IN G 4TH Y EAR QU ALIF Y IN G EXAM : F IN AN CIA L AC CO U N TIN G AN D REP ORTIN G
BASIC F IN AN C IAL AC C OU N TIN G C ON CEPTS, P RO C ESS, A N D F RAM EW O RK
DEV ELO P MEN T O F FI N A N C IA L REP O RTIN G F RA MEW O RK
S TA N D A RD-S ETTIN G BO DIES
REGULA TI O N O F THE A C C O UN TA N CY P RO F ES S IO N 5
C O N CEP TUA L F RA MEWO RK
A CC O UN TIN G P RO CES S
F IN AN CIAL ASSETS
C A S H A N D C A S H EQ UIV A LEN T
LO A N S A N D RECEI V A BLES (F I N A N C IA L A S S ETS A T A MO RTIZED CO S TS )
12
IN V ES TMEN TS I N DEBT I N S TRUMEN TS A N D EQ UITY S ECURI TIES
IN V ES TMEN TS I N A SS O CI A TES
BA S IC DERIV A TI V ES
N ON - F IN AN CIAL ASSETS
IN V EN TO RIES
P RO P ERTY, P LA N T, A N D EQ UIP MEN T
15
N O N - CURREN T A S S ETS HELD F O R S A LE
IN V ES TMEN T P RO P ERTY
IN TA N GIBLES
F IN AN CIAL LIABILITIES AN D N O N - F IN AN CIAL LIABILITIES
F IN A N CI A L LI A BI LITIES
12
N O N - F IN A N CI A L LIA BI LITIES
P RO V IS IO N S A N D C O N TI N GEN C IES
EQU ITY
S HA RE C A P ITA L TRA N S A CTI O N S
DIV ID EN DS
RETA IN ED EA RN IN GS 10
S HA RE BA S ED C O MP EN S A TI O N
O THER C O MP REHENS IV E IN C O ME
BO O K V A LUE P ER SHA RE A N D EA RN IN GS P ER S HA RE
OTHER TO PIC S
LEA S E A C C O UN TIN G
BO RRO WI N G C O S TS
EMP LO YEE BEN EF I TS
A CC O UN TIN G F O R I N CO ME TA X IN COM ING 4TH YEAR QU ALIFY ING EXAM : FIN AN CIAL ACCO U N TIN G A ND REPORTING
IN TERI M REP O RTIN G BASIC FIN AN CIAL ACCOU N TING CONCEPTS, PROCESS, AN D FRA MEW ORK
16
S EGMEN T REP O RTIN G DEV ELO P MEN T O F FIN A N CIA L REP O RTIN G FRA MEW ORK
C A S H TO A CC RUA L STA N DA RD- SETTIN G BO DIES
C O RREC TIO N O F ERRO R
REGULA TIO N O F THE A CCO UN TA N CY P RO FESSIO N 5
S IN GLE EN TRY METHO D
CO N CEP TUA L FRA MEW O RK
A CC O UN TIN G F O R DIS C O N TIN UED O P ERA TIO N S
A CC O UN TIN G F O R CHA N GES IN P RIC ES A CCO UN TIN G P RO CESS
FINA NCIAL ASSETS
CA SH A N D CA SH EQUIV A LEN T
LOA N S A N D RECEIV A BLES (FIN A N CIA L A SSETS A T A MO RTIZED CO STS)
12
IN V ESTMEN TS IN DEBT IN STRUMEN TS A N D EQUITY SECURITIES
IN V ESTMEN TS IN A SSO CIA TES
BA SIC DERIV A TIV ES
NON -FIN AN CIAL ASSETS
IN V EN TORIES
PRO P ERTY, PLA N T, A N D EQUIP MEN T
15
N O N -CURREN T A SSETS HELD FO R SA LE
IN V ESTMEN T P ROP ERTY
IN TA N GIBLES
FINA NCIAL LIABILITIES AN D N ON - FINAN CIAL LIABILITIES
FIN A N CIA L LIA BILITIES
12
N O N -FIN A N CIA L LIA BILITIES
PRO V ISIO N S A N D CO N TIN GEN CIES
EQU ITY
SHA RE CA PITA L TRA N SA CTIO N S
DIV IDEN DS
RETA IN ED EA RN IN GS 10
SHA RE BA SED CO MP EN SA TIO N
O THER CO MP REHEN SIV E IN CO ME
BO O K V A LUE PER SHA RE A N D EA RN IN GS P ER SHA RE
OTHER TOPICS
LEA SE A CCO UN TIN G
BO RRO WIN G COSTS
EMPLO YEE BEN EFITS
A CCO UN TIN G FO R IN CO ME TA X
IN TERIM REPO RTIN G
16
SEGMEN T REPO RTIN G
CA SH TO A CCRUA L
CO RRECTIO N O F ERRO R
SIN GLE EN TRY METHO D
A CCO UN TIN G FO R DISCO N TIN UED O PERA TIO N S
A CCO UN TIN G FO R CHA N GES IN PRICES
 INCOMING 4TH YEAR QUALIFYING EXAM: ADVANCED FINANCIAL ACCOUNTING AND REPORTING
PARTNERSHIP ACCOUNTING
NATURE, SCOPE, AND OBJECTIVES
FORMATION OF PARTNERSHIP 12
OPERATIONS, DISSOLUTIONS, AND/OR CHANGES IN OWNERSHIP OF INTEREST OF THE PARTNERS
LIQUIDATION OF PARTNERSHIP
CORPORATE LIQUIDATION
STATEMENT OF AFFAIRS
STATEMENT OF DEFICIENCY 5
STATEMENT OF REALIZATION AND LIQUIDATION
ORDER OF PRIORITY CLAIMANTS OF ASSETS SUBJECT TO LIQUIDATION
COST ACCOUNTING
SYSTEM OF COST ACCUMULATION OR COSTING SYSTEM
JOB ORDER COSTING
PROCESS COSTING SYSTEM
12
BACKFLUSH AND JUST IN TIME COSTING SYSTEM
ACTIVITY BASED COSTING
JOINT AND BY PRODUCTS ACCOUNTING
SERVICE COST ALLOCATION
REVENUE RECOGNITION
REVENUE FROM CONTRACTS WITH CUSTOMERS
OTHER REVENUE RECOGNITION ISSUES
14
LONG TERM CONSTRUCTION CONTRACTS
FRANCHISE OPERATIONS
ACCOUNTING FOR CONSIGNMENT SALES
ACCOUNTING FOR HOME OFFICE, BRANCH, AND AGENCY TRANSACTIONS 6
ACCOUNTING FOR BUSINESS COMBINATION 7
SEPARATE FINANCIAL STATEMENTS 5
CONSOLIDATED FINANCIAL STATEMENTS 6
OTHER SPECIAL TOPICS
ACCOUNTING FOR INSURANCE CONTRACTS 3
SERVICE CONCESSION ARRANGEMENT - ACCOUNTING FOR BUILD-OPERATE-TRANSFER
 INCOMING 4TH YEAR QUALIFYING EXAM: MANAGEMENT ADVISORY SERVICES
FINANCIAL MARKETS
INTRODUCTION TO FINANCIAL MANAGEMENT AND MARKETS
TIME VALUE OF MONEY
11
DISCOUNTED CASH FLOW VALUATION
INTEREST RATES AND BOND VALUATION
EQUITY MARKETS AND STOCK VALUATION
FINANCIAL MANAGEMENT
FINANCIAL STATEMENT ANALYSIS
15
RISK AND RETURN
COST OF CAPITAL
COST ACCOUNTING
COST CONCEPTS AND CLASSIFICATION
COST BEHAVIOR AND ESTIMATION 15
ACTIVITY BASED COSTING
STANDARD COSTING
MANAGEMENT ACCOUNTING
INTRODUCTION TO MANAGEMENT ACCOUNTING
COST VOLUME PROFIT ANALYSIS
20
ABSORPTION AND VARIABLE COSTING
WORKING CAPITAL MANAGEMENT
CAPITAL BUDGETING
QUANTITATIVE BUSINESS TECHNIQUES AND STRATEGIC MANAGEMENT
QUANTITATIVE TECHNIQUES 4
BALANCED SCORECARD
MANAGERIAL ECONOMICS 5
 INCOMING 4TH YEAR QUALIFYING EXAM: REGULATORY FRAMEW ORK FOR BUSINESS TRANSACTIONS
OBLIGATIONS 8
CONTRACTS 8
LAW ON SALES 6
CONTRACT OF AGENCY 5
CREDIT TRANSACTIONS 5
OMNIBUS INVESTMENT CODE OF 1987 2
FOREIGN INVESTMENT ACT, AS AMENDED BY RA 8179 3
RETAIL TRADE LIBERALIZATION ACT 3
GENERAL BANKING LAW OF 2000 2
NEW CENTRAL BANK ACT 3
LAW ON SECRECY OF BANK DEPOSITS 2
PHILIPPINE DEPOSIT INSURANCE CORPORATION LAW 2
ANTI-MONEY LAUNDERING ACT OF 2001 2
BATAS PAMBANSA BLG. 22 3
UNCLAIMED BALANCES LAW (PD 679) 2
INSOLVENCY LAW (RA 10142) 3
COOPERATIVE CODE OF THE PHILIPPINES (RA 6938, AS AMENDED) 3
INTELLECTUAL PROPERTY CODE OF THE PHILIPPINES (RA 8293, AS AMENDED) 2
LAW ON PARTNERSHIP 8
REVISED CORPORATION CODE OF THE PHILIPPINES (RA 11232) 8
 INCOMING 3RD YEAR QUALIFYING EXAM: TAXATION
PRINCIPLES OF TAXATION
NATURE, SCOPE, CLASSIFICATION, AND CHARACTERISTICS
PRINCIPLES OF SOUND TAX SYSTEM TRANSFER TAXATION
ESTATE TAX 12
LIMITATIONS OF TAXATION
DONOR'S TAX
TAX EVASION V TAX AVOIDANCE
8 BUSINESS TAXATION
SITUS OF TAXATION
VALUE ADDED TAX
DOUBLE TAXATION 14
SPECIFIC AND OTHER PERCENTAGE TAX
LEGISLATION OF TAX LAWS EXCISE TAX
ETHICAL TAX COMPLIANCE AND ADMINISTRATION DOCUMENTARY STAMP TAX
2
GOVERNMENT AGENCIES EFFECTING TAXATION DOCUMENTARY STAMP TAX
TAX REMEDIES LOCAL TAXATION
REMEDIES OF GOVERNMENT SCOPE AND TYPES OF LOCAL TAXES
8 4
REMEDIES OF TAXPAYERS TAX BASE AND TAX RATES
VENUE AND TIME OF FILING AND PAYMENT OF TAX RETURNS
COURT OF TAX APPEALS
PREFERENTIAL TAXATION
INCOME TAXATION
SENIOR CITIZENS ACT
INDIVIDUAL AND CORPORATE TAXPAYER AND TAX BASE MAGNA CARTA FOR DISABLED PERSONS
GROSS INCOME - INCLUSIONS AND EXCLUSIONS SPECIAL ECONOMIC ZONE ACT 8
DEDUCTIONS FROM GROSS INCOME OMNIBUS INVESTMENTS CODE
14
TAXABLE INCOME AND INCOME TAX - INDIVIDUAL AND CORPORATE BARANGAY MICRO BUSINESS ENTERPRISES
ACCOUNTING PERIODS AND METHODS DOUBLE TAXATION AGREEMENT
TAX RETURNS, FILING, AND PAYMENT
WITHHOLDING TAXES
 INCOMING 4TH YEAR QUALIFYING EXAM: AUDIT
Objectives, nature, elements and types of assurance engagements, assurance and attestation services 10
Nature, philosophy, and objectives of Audit - Types of audit and auditors 6
Audit process. Procedures on pre-engagement, audit planning, supervision and review. 5
Materiality and Audit Risks 6
Industry, regulatory and other external factors, aff ecting the business entity under audit 5
Basic concepts and elements of internal control and control risks 6
Risks of material misstatements due to fraud and errors 5
Nature and significance of audit evidence and audit procedures and techniques in gathering evidence 8
Audit report preparation 6
Various review and evaluation procedures Final Audit Report 8
Elements of an audit report and audit opinion 6
Unqualified and modified auditor's report 6
Factors influencing the auditor’s opinion in a modified auditor’s report 6
Other assurance and non-assurance services 5
Code of Ethics for Professional Accountants 6
Accountancy Act of 2004 and its related IRR 6