January 2016 - Philippine Accounting Updates

‘I am Acct’ (Part 1 of 2)

Posted on January 28, 2016 by BOA Secretariat | 0 Comments

I often wonder how medical doctors got to use their titles of “Dr.”; attorneys or lawyers their titles of “Atty.”; engineers their titles of “Engr.”; architects their titles of “Arch.”; and the other professionals or government officials with their must-have designation…

Q&A clarifying certain matters on CPA certification on compilation services

Posted on January 27, 2016 by Orlando Calundan | 4 Comments

Last week, we published a post entitled “BOA Resolution passed requiring CPA FS preparers to submit certificate“, informing the public of the issuance of the Board of Accountancy (BoA) of Resolution No. 3, Series of 2016, which, among others requires…

BOA Resolution passed requiring CPA FS preparers to submit certificate

Posted on January 21, 2016 by Orlando Calundan | 40 Comments

Two (2) months ago, we wrote an article on Rules on Financial Statement Preparation now for Comments which was still for comments. Now, the Board of Accountancy has finally passed Board Resolution No. 3, Series of 2016, Requiring the Submission of Certificate by…

2016 Filing Schedule of AFS and GIS for companies with December 31, 2015 yearend

Posted on January 19, 2016 by Orlando Calundan | 0 Comments

The Securities and Exchange Commission (SEC) has posted in its website SEC Memorandum Circular No. 1, Series of 2016 dated January 11, 2016 setting forth the schedule of filing of the audited financial statements (AFS) and general information sheet (GIS)…

Forthcoming changes in the Continuing Professional Development of CPAs

Posted on January 6, 2016 by Orlando Calundan | 3 Comments

The Board of Accountancy (BoA) is taking quality really seriously. From the revision of the syllabus for the Certified Public Accountant (CPA) licensure examination, implementing stricter and new rules on accreditation, new rules in the preparation of the financial statements, among…

SEC FRB No. 18 extends effectivity age of FS from 135 to 180 days

Posted on January 5, 2016 by Orlando Calundan | 0 Comments

The Securities and Exchange Commission has approved Financial Reporting Bulletin (FRB) No. 18 on the age requirement for financial statements (FS) and extended the effectivity of FS from 135 days to 180 days. This is for the purposes of the…

Miss and Mister Universe of the accountancy profession (Part 2)

Posted on January 4, 2016 by BOA Secretariat | 0 Comments

The winners in the accountancy profession in 2015 can be likened to Miss Universe Pia Alonzo Wurtzbach who was able to accomplish an outstanding milestone when she bested the rest of the universe in winning her crown. As written in…

Miss and Mister Universe of the accountancy profession (Part 1)

Posted on January 4, 2016 by BOA Secretariat | 0 Comments

Just as Miss Universe Pia Alonzo Wurtzbach was able to accomplish an outstanding milestone when she bested the rest of the universe in winning her crown in December, there are a lot of Miss/es Universe or Mister/s Universe winners in the accountancy sector…

Philippine Accounting Updates

Your reliable source of accounting, tax and related updates

Month: January 2016