2014 - Page 2 of 4 - Philippine Accounting Updates

Tax and other incentives to PEZA-registered Economic Zone enterprises

Posted on September 4, 2014 by Orlando Calundan | 0 Comments

Philippine Economic Zone Authority (PEZA) – attached to the Department of Trade and Industry – is the Philippine government agency tasked to promote investments, extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service…

SEC Express System launched

Posted on August 26, 2014 by Orlando Calundan | 0 Comments

Last July 22, 2014, the Philippine Securities and Exchange Commission (SEC) posted in its website an advisory/notice informing the public about the launch of the SEC Express System, an alternative modes of securing copies of documents with the SEC, without…

Are interest and dividend income, foreign exchange gains subject to local business tax?

Posted on August 26, 2014 by Orlando Calundan | 0 Comments

Companies registered and operating in the Philippines are required to comply with various local laws, rules and regulations. Local government units are given the power to create its own sources of revenue and to levy taxes, fees, and charges subject to…

Amendments to PAS 16 and PAS 41 for bearer plants

Posted on August 7, 2014 by Orlando Calundan | 0 Comments

The requirement of the existing Philippine Accounting Standards (PAS)* 41 Agriculture, is to measure biological assets and agricultural produce at fair value less cost to sell, except for biological assets where fair value cannot be measured reliably, in which case, should…

July 2014 CPA Licensure Examination Results

Posted on July 31, 2014 by Orlando Calundan | 0 Comments

The Professional Regulation Commission (PRC) announces that 1,107 out of 5,540 passed the Certified Public Accountant Licensure Examination given by the Board of Accountancy in the cities of Manila, Baguio, Cagayan De Oro, Cebu, Davao, Iloilo and Legazpi last July…

Room Assignments – July 2014 CPA Board Exam

Posted on July 18, 2014 by Orlando Calundan | 0 Comments

Are you ready for the July 2014 CPA Board Exam? We have brought to you the Schedule of Subjects for the July 2014 CPA Licensure Exam and the new schedule from the time the May 2014 CPA Board exam was postponed. Alright,…

Schedule of Subjects for the July 2014 CPA Licensure Exam

Posted on June 14, 2014 by Orlando Calundan | 2 Comments

Now that the postponed May 2104 CPA Licensure Exam has been finally rescheduled on July 20, 21, 28 and 29, candidates should take note of the schedules of subjects so that they will go into the battle that they know…

Postponed May 2014 CPA Board Examination Rescheduled in July

Posted on June 14, 2014 by Orlando Calundan | 0 Comments

Good news!!! Finally, we already have the new schedule of the postponed May 2014 CPA (Board) Licensure Examination. Well, I actually don’t know whether it is a good or bad news for those who are taking the exam since…

IFRS 15 Download and Learning Resources

Posted on June 10, 2014 by Orlando Calundan | 0 Comments

Recently, the International Accounting Standards Board and the Financial Accounting Standards Board of US jointly issued a converged revenue standard. International Financial Reporting Standards 15, Revenue from Contracts with Customers, is effective January 1, 2017. IFRS 15 replaces the following standards…

IFRS 15 – Revenue from Contracts with Customers (final revenue standard)

Posted on June 9, 2014 by Orlando Calundan | 0 Comments

International Financial Reporting Standards (IFRS) 15 specifies how and when an entity will recognize revenue as well as requiring such entities to provide users of financial statements with more informative, relevant disclosures. The standard provides a single, principles based five-step…

Disclosures on websites of listed companies mandated by SEC

Posted on June 6, 2014 by Orlando Calundan | 0 Comments

Transparency starts with appropriate and timely disclosures. Currently, disclosures by publicly listed companies are submitted for publishing to the Philippine Stock Exchange and Philippine Securities and Exchange Commission (SEC). The Philippine SEC is now requiring all publicly-listed companies to include…

New Board of Accountancy Chairman and Members

Posted on May 24, 2014 by Orlando Calundan | 7 Comments

It’s official! the Professional Regulations Commission (PRC) Board of Accountancy (BOA) already has its new set of members. Now that BOA already has it’s members, we expect that the administration of the Certified Public Accountant Licensure Examination should be smooth…

Philippine Accounting Updates

Your reliable source of accounting, tax and related updates

Year: 2014