Orlando Calundan, Author at Philippine Accounting Updates

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…

Deadline extension for submission of “appointment book” until May 31

Posted on May 5, 2014 by Orlando Calundan | 0 Comments

Issuance of Revenue Regulations 4-2014 Revenue Regulations (RR) No. 4-2014 was issued by the Bureau of Internal Revenue (BIR) sometime in March 2014 to monitor the fees charged by professionals, aid the BIR personnel in conducting tax audit and boost…

Philippine Accounting Updates App now available in Andriod

Posted on April 23, 2014 by Orlando Calundan | 0 Comments

GOOD NEWS! PHILIPPINE ACCOUNTING UPDATES NOW AVAILABLE IN PLAY STORE/ANDRIOD MARKET! Just Scan the Code or Click the Link HERE! Now, you’ll never miss a single update! Philippine Accounting Updates App is now available for download in Andriod! Users will…

May 2014 CPA Board Exam Postponed Indefinitely

Posted on April 21, 2014 by Orlando Calundan | 0 Comments

We don’t really know what the candidates for the upcoming May 2014 CPA Licensure Examination feel about this, but, it’s true that the Professional Regulation Commission (PRC), through the recommendation of the Board of Accountancy (BOA) postponed the upcoming May…

Gusto mo bang umuwi ng alas nwebe? (Frozen – busy season version)

Posted on March 19, 2014 by Orlando Calundan | 6 Comments

We, accountants and auditors, always have busy days specially now that it is “busy season” as we call it rushing the finalization of the financial statements and income tax returns of our companies or our clients. But, we shouldn’t deprive…

BIR Form Nos. 1700, 1701 and 1702 now available in eBIRForms

Posted on March 18, 2014 by Orlando Calundan | 67 Comments

Spending hard times filling up the PDF copy of the new income tax returns (BIR Form No. 1700, 1701, 1702-RT, 1702-EX, 1702-MX)? Finally, the Bureau of Internal Revenue (BIR) has uploaded in its website eBIRForms that contains the new and revised…

SEC Filing for Corporations with Registration No. Ending 1 and 2

Posted on March 12, 2014 by Orlando Calundan | 0 Comments

The Securities and Exchange Commission on Tuesday, March 11, 2014 issued a notice informing the public that corporations with SEC registration number ending 1 and 2 shall be given an extension on the deadline in filing their financial statements until…

Tax Requirements for Marginal Income Earners

Posted on February 11, 2014 by Orlando Calundan | 0 Comments

The Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 7-2014 to clarify issues on registration and compliance requirements of marginal income earners (MIE). Who are Marginal Income Earners? This RMC clarifies, among others, the following: MIE are individuals whose business…

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Author: Orlando Calundan