Cpale Cpa Exam Syllabi 2019
Cpale Cpa Exam Syllabi 2019
Cpale Cpa Exam Syllabi 2019
BOARD OF ACCOUNTANCY
This subject covers the candidates’ ability to demonstrate understanding and application of accounting
principles and standards relating to: nature and composition of accounts, initial recognition, measurement and
valuation, subsequent events and transactions, subsequent measurement and recognition of losses due to
impairment and other causes, related party transactions, financial statement presentation and disclosures.
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The candidates must have a working knowledge in the application of the various financial accounting and
reporting standards relating to the above.
The candidates must also be able to communicate effectively matters pertaining to the financial
accounting work that will be handled.
The knowledge of the candidates in the competencies cited above is that of an entry level accountant who can address the
fundamental requirements of the various parties that the candidates will be interacting professionally in the future.
Only new standards and other issuances shall be included in the examinations if these are in effect for at
least six (6) months at the date of the examination.
1.0 Development of Financial Reporting Framework, Standard-Setting Bodies, Regulation of the Accountancy Profession,
Conceptual Framework of Financial Statements and Accounting Process (10%)
1.1 Development of Financial Reporting Framework
1.1.1 Financial Reporting Framework
1.1.2 Components of the Framework
1.2 Standard-Setting Bodies
1.2.1 AASC
1.2.2 FRSC
1.2.3 PIC
1.3 Regulation of the Accountancy Profession
1.3.1 Regulators of the Profession
1.3.2 Developments in the Accountancy Profession
1.3.3 Compilation Services
1.3.4 Accreditation of CPA Professionals
1.4 Conceptual Framework
1.4.1 Basic Objectives of Financial Statements
1.4.2 Qualitative Characteristics of Financial Statements
1.4.3 Elements of Financial Statements
1.4.4 Financial Capital and Physical Capital
1.5 Accounting Process
1.2.1 Adjusting Entries
1.2.2 Accounting Cycle
2.0 Presentation of Financial Statements ( PAS 1, PAS 8, PAS 10, PAS 7, PFRS 5, PAS 33, PAS 18 / PFRS 15) (11.43%)
2.1 Statement of Financial Position
2.2 Statement of Comprehensive Income
2.3 Statement of Cash Flows
2.4 Statement of Changes in Equity
2.5 Notes to the Financial Statements
3.0 Assets (34.29%)
3.1 Financial Assets (PAS 7, PAS 32 & PAS 39 / PFRS 9, PFRS 7,PAS 28)
3.1.1 Cash & Cash Equivalents
3.1.2 Loans and Receivables (Financial Assets at Amortized Cost)
3.1.3 Investments in Debt Instruments
3.1.3.1 Financial Assets at Fair Value through Profit or Loss (Except Derivatives)
3.1.3.2 Financial Assets at Fair Value through Other Comprehensive Income
3.1.3.3 Financial Assets at Amortized Cost
3.1.4 Investments in Associates (equity method of accounting)
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3.1.5 Basic Derivatives (excluding Hedge Accounting)
3.1.5.1 Forwards
3.1.5.2 Futures
3.1.5.3 Interest Rate Swap
3.2 3.1.5.4 Call and Put Options
Non-Financial Assets( PAS 2, PAS 16, PAS 38, PAS 40, PAS 23, PAS 41, PAS 20, PAS 36, PFRS 5, PFRS 6, PFRS 13)
3.2.1 Inventories
3.2.1.1 Cost, Lower of cost or Net realizable value
3.2.1.2 Estimating procedures
3.2.2 Property, Plant and Equipment
3.2.2.1 Nature
3.2.2.2 Recognition principle
3.2.2.3 Initial recognition basis
3.2.2.4 Depreciation methods
3.2.3 3.2.2.5 Impairment
Investment Property
3.2.4 3.2.3.1 Nature and measurement principle
Intangibles
3.2.4.1 Nature and recognition principle
3.2.4.2 Research and development expenditures
3.2.4.2 3.2.4.3 Subsequent expenditures
Amortization
3.2.5 Biological Assets
3.3.5.2 After initial recognition 3.3.5.1 Nature and recognition principle
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6.0 Other Topics (15.71%)
6.1 Share-based payments (PFRS 2)
6.2 Borrowing Costs (PAS 23)
6.2.1 Nature
6.3 6.2.2 Criteria for capitalizing borrowing costs
Leases (PFRS 17/ PFRS 16)
6.3.1 Operating lease
6.4 6.3.2 Finance lease
Income Tax (PAS 12, PFRS 14)
6.4.1 Accounting profit
6.5 6.4.2 Taxable profit
Employee Benefits (PAS 19, PAS 26)
6.5.1 Defined benefit plan
6.6 6.5.2 Defined benefit liability (asset)
Interim Reporting (PAS 34, PAS 24)
6.6.1 Purpose
6.7 6.6.2 Principles for Recognition
Segment Reporting (PFRS 8)
6.7.1 Identification of segments
6.7.2 Measurement of segment information
6.8 6.7.3 Disclosure
Cash to Accrual
6.8.1 Purpose
6.8.2 Single-entry computation of profit
6.8.3 Reconciling profit using the transaction approach
6.9 6.8.4 Convert cash basis revenues and expenses to accrual basis revenues and expenses
PFRS for Small and Medium Sized Entities
6.9.1 Reporting Requirements
6.9.2 Peculiarities
6.10 6.9.3 Principles for reporting investments in equity and debt securities
PFRS on Micro Enterprises
7.0 Updates on Special Concerns (10% or the percentage that result in a minimum of 5 questions)
7.1 Globalization
7.2 Digital and Information Technology
7.3 Governance and Ethics
7.4 Effective Business Communication
7.5 BoA regulatory and compliance requirements and considerations
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Changes in FAR Syllabus
1. The 11 Topics are now reduced to 7 major topics with very detailed subtopics.
2. Development of Financial Reporting Framework, Standard-Setting Bodies,
Regulation of the Accountancy Profession, Conceptual Framework and
Accounting Process were lump into one topic.
3. Share-based payments which was previously under Equity is now part of Other
Topics.
4. Interim and Segment Reporting, Cash to Accrual and Small and Medium Entities
which were previously separate topics are now also under Other Topics.
5. Updates on special concerns are given more emphasis and are to include
Effective Business Communication, Globalization, Digital and Information
Technology, Governance and Ethics and BOA regulatory and compliance
requirements and considerations are lump into one new topic Updates on Special
Concerns.
6. New standards that have become effective prior and up to 2018 were integrated
in the related topics in addition to the superseded standards.
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1.3.1
1.3.2
1.3.3
1.4 Liquidation
1.4.1
1.4.2
This subject covers the candidates’ knowledge of the concepts and principles in advanced financial accounting and
reporting and the application of these accounting concepts including techniques and methodology to problems likelyto be
encountered in practice. Candidates should know and understand problems involving accounting of special transactions and
their effects and presentation in the financial statements including among others: accounting for partnerships, corporate
liquidation, joint arrangements, revenue recognition, home office and branch/ principal and agency transactions, business
combinations and consolidations, foreign currency transactions and translations, not for-profit organizations, including
government accounting and cost accounting and treatment and presentation of consolidated financial statements. Also, a
working knowledge of the standards related to these special topics is expected of the candidates.
The candidates must also be able to communicate effectively matters pertaining to these special
accounting topics and the related work that will be handled.
The knowledge of the candidates in the competencies cited above is that of an entry level accountant who can address the
fundamental requirements of the various parties that the candidates will be interacting professionally in the future.
Only new standards and other issuances shall be included in the examinations if these are in effect for at
least six (6) months at the date of the examination.
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2.2 Statement of Deficiency
2.3 Statement of Realization and Liquidation
2.4 Determination of the order of priority of claimants of company assets subject to liquidation
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5.0 Accounting for Home Office, Branch and Agency Transactions
5.1 Transactions on the books of the home office and the branch
5.2 Reconciliation of reciprocal accounts
5.3 Preparation of individual and combined financial statements
5.4 Special procedures in home office and branch transactions (inter – branch transfer of cash and
merchandise at cost or at billed price)
5.5 Accounting for agency transactions
6.1.3 Recognition and Measurement of Goodwill and Gain from a Bargain Purchase
9.1 Without hedging activities (import, export, lending, and borrowing transactions)
9.2 Hedging Activities: Hedging Foreign Currency Exposures
9.2.1 Foreign Currency Forward Contacts
9.2.1.1 Hedges that not requires a Hedge Accounting (undesignated hedges)
9.2.1.1.1 Exposed Asset (import) or Liability (export) Position
9.2.1.1.2 Speculation
9.2.1.2 Hedges that requires a Hedge Accounting:
9.2.1.2.1 Fair value hedge
9.2.1.2.1.1 Hedge of a Firm Commitment (purchase or sale transaction)
9.2.1.2.2 Cash flow hedge
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9.2.1.2.2.1 Hedge of a Firm Commitment (purchase or sale transaction)
9.2.1.2.2.2 Hedge of a Forecasted Transaction (purchase orsale
transaction)
9.2.1.2.3 Hedge of a net investment in foreign entity
9.3 Accounting for SME
10.0 Translation of Foreign Currency Financial Statements (PAS 21/ PAS 29)
10.1 Translation from the Functional Currency to the Presentation Currency (Closing/ Current Rate Method)
10.2 Remeasurement from a Foreign Currency to the Functional Currency (Temporal Method)
10.3 Restatement of Financial Statements
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14.5.2 Step – down
14.5.3 Reciprocal method
14.6 Activity – based costing system (ABC costing)
14.6.1 Allocation of costs: Traditional Costing versus ABC Costing
14.6.2 Determination of Total Product Costs: Traditional Costing versus ABC costing
14.7 Accounting for joint and by – products
14.7.1 Methods of allocating joint cost to products
14.7.1.1 Market (sales) value method:
14.7.1.1.1 Market value at split – off point approach
14.7.1.1.2 Hypothetical Market Value Approach or Approximated Net Realizable Value
Approach or Net Realizable Value Method
14.7.1.1.3 Average unit (production output) method
14.7.1.1.4 Weight average method
14.7.1.2 Methods of allocating Joint Cost to By – products
14.7.1.2.1 No joint cost allocated to by – product
14.7.1.2.2 With joint costs allocated to by – product
14.7.1.3 Treatment of by - products
14.8 Standard Costing (two-way variance excluding mix and yield variances)
14.8.1 Computation of Variances
14.8.2 Journal Entries and reporting
15.0 Updates on Special Concerns
15.1 Globalization
15.2 Digital and Information Technology
15.3 Governance and Ethics
15.4 Regulatory Requirements and Considerations
15.5 Effective Business Communication
The subject covers the candidates’ knowledge of the concepts, techniques and methodology applicable to
management accounting, financial management and management consultancy. Candidates should know
and understand the role of information in accounting, finance and economics in management consultancy
and in management processes of planning, controlling and decision-making.
The candidates must have a working knowledge to comply with the various management accounting and
consultancy engagements.
The candidates must also be able to communicate effectively matters pertaining to the management
accounting and consultancy work that will be handled.
The knowledge of the candidates in the competencies cited above is that of an entry level accountant who can address the
fundamental requirements of the various parties that the candidates will be interacting professionally in the future.
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The syllabus for the subject is presented below.
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1.2.7.7 Target costing
1.3 Management Accounting Concepts and Techniques for Performance Measurement
1.3.1 Responsibility accounting and transfer pricing
1.3.1.1 Type of responsibility centers (cost, revenue, profit and investment centers)
1.3.1.2 Concepts of decentralization and segment reporting
1.3.1.3 Controllable and non-controllable costs, direct and common costs
1.3.1.4 Performance margin (manager versus segment performance)
1.3.1.5 Preparation of ‘segmented’ income statement
1.3.1.6 Return on investment (RoI), residual income and economic value added (EVA)
1.3.1.7 Rational and need for transfer price
1.3.1.8 Transfer pricing schemes (minimum transfer price, market-based transfer price,
cost-based transfer price and negotiated price)
1.3.2 Balanced scorecard
1.3.2.1 Nature and perspectives of balanced scorecard
1.3.2.2 Financial and non-financial performance measures
2.2 Financial Management Concepts and Techniques for Planning, Control & Decision Making
2.2.1 Financial statement analysis
2.2.1.1 Vertical analysis (common-size financial statements)
2.2.1.2 Horizontal analysis (trend percentages and index analysis)
2.2.1.3 Cash flow analysis (interpretation of cash flows including free cash flow concept)
2.2.1.4 Gross profit variance analysis (price, cost and volume factors)
2.2.1.5 Financial ratios (liquidity, solvency, activity, profitability, growth and other ratios; Du Pont model)
2.2.1.6 Financial forecasting using additional funds needed (AFN)
2.2.2 Working capital finance
2.2.2.1 Concepts and significance of working capital management
2.2.2.2 Working capital investment and financing policies (conservative vs. aggressive)
2.2.2.3 Cash and marketable securities management (cash conversion cycle, optimal
cash balance, collection and disbursement float, cash management system)
2.2.2.4 Receivables management (average balance of and investment in accounts receivable,
incremental analysis and evaluation of discount, collection and credit policies)
2.2.2.5 Inventory management (carrying, ordering and stock-out costs, inventory control
system including EOQ model, safety stock, reorder point)
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2.2.2.6 Sources of short-term funds (trade credit, bank loans, commercial papers, receivable factoring)
2.2.2.7 Estimating cost of short-term funds (annual cost of trade credit, effective and
nominal annual rate of short-term funds)
2.2.3 Capital budgeting
2.2.3.1 Capital investment decision factors (net investment for decision making, cost of
capital, cash and accrual net returns)
2.2.3.2 Non-discounted capital budgeting techniques (payback period, accounting rate of
return on original and average investment, bail-out payback and payback reciprocal)
2.2.3.3 Discounted capital budgeting techniques (net present value, internal rate of return,
profitability index, equivalent annual annuity, fisher rate/ NPV point of indifference)
2.2.3.4 Project screening, project ranking and capital rationing (independent and
mutually exclusive capital investment projects)
2.2.3.5 Sensitivity analysis (effects of changes in project cash flow, tax rates and other assumptions)
2.2.4 Investments, risks and rates of returns
2.2.4.1 Types of risks (business/ operating, financing)
2.2.4.2 Measures of risks (coefficient of variation and standard deviation)
2.2.4.3 Degree of operating, financial and total leverage
2.2.4.4 Derivatives (forwards, futures, swaps and options)
2.2.4.5 Investment models (Black Sholes, CAPM)
2.2.4.6 Capital markets, the Philippine Stock Exchange and other foreign bourses
2.2.4.7 Types of investment products and their characteristics
2.2.5 Capital structure and long-term financing decision
2.2.5.1 Basic concepts and tools of capital structure management
2.2.5.2 Sources of intermediate and long-term financing (including hybrid financing)
2.2.5.3 Cost of capital (cost of long-term debt, cost of preferred shares, cost of equity,
weighted average cost of capital, marginal cost of capital)
4.0 Economic Concepts essential to obtaining an understanding of entity’s business and industry
4.1 Macroeconomics (national economic issues and measures of economic performance such as GDP;
unemployment and inflation; fiscal and monetary policies; international trade and foreign exchange rates)
4.2 Microeconomics (concept of and factors affecting supply; concept of and factors affecting demand;
market equilibrium; price elasticity of demand; market structure; production and cost functions)
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5.1 Globalization
This subject covers the candidates’ knowledge of the principles and concepts of auditing and the practical application
of these principles and concepts. There shall be two parts of this subject: Auditing Theory and Auditing Problems.
AUDITING THEORY
This part covers the candidates' conceptual knowledge and understanding of assurance and related services
performed by professional accountants. Candidates should know and understand the nature of assurance and
related services particularly independent audits of financial statements, the responsibilities of professional
accountants, the audit process, audit objectives, evidence, procedures, auditing standards, and the elements
of the independent auditors' report. In all the areas included, the candidate shall apply the Philippine Standards
on Auditing (PSA) and other regulatory laws and regulations in effect at the time of examination.
AUDITING PROBLEM
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Introduction to assurance
engagements 1.1.1 Nature, objective and
elements
This part covers the candidate’s proficiency in applying audit standards, techniques, and procedures to a typical independent audit
of a medium-sized service, trading or manufacturing concern. Candidate shall be able to plan and perform an audit, analyze data for
possible errors and irregularities, formulate adjusting entries, resolve audit issues, prepare audit working papers and complete the
audit including the preparation of the audit report. In all the areas included, the candidate shall apply the Philippine Standards on
Auditing (PSA) and other regulatory laws and regulations in effect at the time of examination.
The knowledge of the candidates in the competencies cited above is that of an entry level accountant who can address the
fundamental requirements of the various parties that the candidates will be interacting professionally in the future.
The candidates must also be able to communicate effectively matters pertaining to the audit work that will be handled.
Only new standards, interpretations and other issuances shall be included in the examinations if these
are in effect for at least six (6) months at the date of the examination.
AUDITING THEORY
1.1
2.0 The Financial Statements Audit -Client Acceptance, Audit Planning, Supervision and Monitoring
2.1
2.2
2.3
2.4
3.0 Understanding the Entity and its Environment Including its Internal Control and Assessing the Risks
of Material Mistatement
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The unqualified auditor's report
3.1 Industry, regulatory and other external factors, including the applicable financial reporting framework
3.1.1 Nature of the entity
3.1.2 Objectives and strategies and related business risks
3.1.3 Measurement and review of the entity's financial performance
3.2 Internal control
3.2.1 Basic concepts and elements of internal control
3.2.2 Consideration of accounting and internal control systems
3.2.2.1 Understanding and documentation
3.2.2.2 Assessment of control risks
3.2.2.2.1 Test of controls
3.2.2.2.2 Documentation
3.3 Assessing the risks of material misstatement
3.3.1 Fraud and errors
3.3.2 Risk assessment procedures
3.3.3 Discussion among the engagement team
3.3.4 Significant risks that require special audit consideration
3.3.5 Risks for which substantive procedures alone do not provide sufficient appropriate audit evidence
3.3.6 Revision of risk assessment
3.4 Communicating with those charged with governance and management
5.1.6 Evaluating findings, formulating an opinion and drafting the audit report
6.1
6.2
6.3
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6.3.2 Matters that do affect the auditor's opinion
7.1.1 Introduction
7.2.1 Introduction
7.2.2 Effects of computers on the audit process
9.1 Globalization
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AUDITING PROBLEM
1.0 Evidence Accumulation and Evaluation – Substantive Tests of Transactions and Balances
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• Substantially the same as the 2016 syllabus and TOS
• 70 questions – 50% multiple choice; 50% situational
• Inclusion of applicable Auditing standards
• Additional topics on Updates on Special Concerns
• Globalization of Public Practice of Accountancy
• Digital and Information Technology in Audit
• Governance and Ethics
• Regulatory Requirements and Considerations
• Effective Business Communication
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THE CPA LICENSURE EXAMINATION SYLLABUS
TAXATION
Effective May 2019 Examination
This subject covers the candidates’ knowledge of the principles and concepts of taxation and the practical application
of these principles and concepts. Candidates are expected to know the National Internal Revenue Code (NIRC)
provisions on income tax, business taxes (value-added and percentage taxes), estate tax, donor’s tax, excise and
documentary stamps tax, the Tariff and Customs Code, Local Government Code on local taxes, preferential tax or tax
exemption provisions and taxes pertaining to senior citizens and persons with disability, Board of Investments, PEZA,
BMBE, various Tax Treaties and other special laws and issuances that may be legislated in the future. The
candidates must be familiar with the Implementing Rules and Regulations, circulars, rulings and other issuances
pertinent to the implementation of the various taxation laws earlier specified. The candidates should know the
taxation principles in the decisions of the Court of Tax Appeals, Court of Appeals and Supreme Court.
The candidates must have a working knowledge to comply with the various taxation measures. Compliance includes,
among others, computation of tax liabilities, accomplishing tax returns and forms, availment of tax incentive benefits,
submission of tax related regulatory and registration requirements and dealing with the various offices involved in taxation.
The candidates must also be familiar with the taxpayer rights and remedies, handling disputes on tax issues, knowing the
various tax offices that they will be interacting and basic tax planning to derive the benefits of the tax laws and incentives.
The candidates must also be able to communicate effectively matters pertaining to the taxation work that will be handled.
The knowledge of the candidates in the competencies cited above is that of an entry level accountant who can address the
fundamental requirements of the various parties that the candidates will be interacting professionally in the future.
Only new laws, implementing rules and regulations, jurisprudences and other issuances shall be included
in the examinations if these are in effect for at least six (6) months at the date of the examination.
Tax rates shall be provided in the examination when candidates are required to compute taxes.
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1.4 Tax evasion vs. tax avoidance
1.5 Situs/place of taxation
1.6 Double taxation
1.7 Legislation of tax laws
1.8 Impact of taxes in nation building
1.9 Ethical tax compliance and administration
1.10 Organization of the Bureau of Internal Revenue, Bureau of Customs, Local Government Tax Collecting
Units, Board of Investments, Philippine Economic Zone Authority
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3.5.1 Reconciliation of income under PFRS and income under Tax Accounting
3.7 Withholding taxes (at source, expanded or creditable withholding tax, final withholding taxes and
withholding tax on government payments)
3.7.1 Time of withholding
3.7.2 Income payments subject to withholding
3.7.3 Year end withholding of tax and requirements
3.7.4 Venue and time of filing of withholding tax returns
3.7.5 Venue and time of payment
3.7.6 Modes of payment
3.7.7 Time of payment
3.7.8 Use of tax tables and rates
3.7.9 Use of various withholding tax returns and forms
3.8 Compliance Requirements
3.8.1 Administrative requirements (registration, issuance of receipts, printing of receipts)
3.8.2 Attachments to the income tax return, including CPA certificate, per NIRC requirement
3.8.3 Keeping of books of accounts and records, including report of inventories
3.8.4 Prescriptive period of maintain books of accounts and other accounting records
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4.2.9 Attachments to the tax return
4.2.10 Administrative requirements
6.1.1 Concept
6.1.2 Applicability
6.1.6 Coverage
7.1 Describe, Analyze and Compute Documentary Stamp Tax (Limited to Shares of Stocks, Sales, Debt
Instruments and Deeds of Sale)
7.1.1 Definition
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7.1.4 Time and Manner of Payment
8.1 Scope and different types of local taxes (limited to real property tax, local business tax)
11.1 Globalization
11.2 Digital and Information Technology
11.3 Governance and Ethics
11.4 Regulatory Requirements and Considerations
11.5 Effective Business Communication
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THE CPA LICENSURE EXAMINATION SYLLABUS
REGULATORY FRAMEWORK for BUSINESS TRANSACTIONS
Effective May 2019 Examination
This subject covers the candidates’ knowledge of the regulatory framework governing business transactions and business
organizations/ associations, and of business laws including their legal implications. Candidates should know and understand
the pertinent legal provisions, general principles, concepts, and underlying philosophy of the laws applicable to commerce
and business. The candidates must have sufficient knowledge to enable them to recognize the legal implications of business
situations or transactions and to know when to seek legal counsel or recommend that it be sought.
The candidates must have a working knowledge to apply the various regulatory framework measures and
the pertinent provisions of the law relative to particular business scenarios.
The candidates must also be familiar with clients’ rights and remedies, with the handling of disputes on
regulatory issues.They must know the various regulatory offices that they will be interacting with and the
basic regulations that they will derive benefits from.
The candidates must also be able to communicate effectively matters pertaining to the regulatory work that will be handled.
The knowledge of the candidates in the competencies cited above is that of an entry level accountant who can address the
fundamental requirements of the various parties that the candidates will be interacting professionally in the future.
Only new laws, implementing rules and regulations, jurisprudences and other issuances shall be included
in the examinations if these are in effect for at least six (6) months at the date of the examination.
The examination shall have one hundred (100) multiple choice questions.
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1.0 LAWS ON BUSINESS TRANSACTIONS
1.1 Obligations
1.1.1 Sources of obligations and their concepts
1.1.1.1 Law
1.1.1.2 Contracts
1.1.1.3 Quasi-contracts
1.1.1.4 Delicts
1.1.2 1.1.1.5 Quasi-delicts
Kinds of obligations in general under the Civil Code
1.1.3 Specific circumstances affecting obligations in general
1.1.3.1 Fortuitous events
1.1.3.2 Fraud
1.1.3.3 Negligence
1.1.3.4 Delay
1.1.4 1.1.3.5 Breach of contract
Duties of obligor in obligation to do or not to do
1.1.5 Extinguishment of obligation with special emphasis on
1.1.5.1 Payment of debts of money
1.1.5.2 Mercantile documents as means of payment
1.1.5.3 Special forms or modes of payment
1.1.5.4 Remission or condonation, confusion, compensation and novation
1.1.5.5 Effect of insolvency and bankruptcy on extinguishment of obligation
1.2 Contracts
1.3. Sales
1.3.1 Nature, forms and requisites
1.3.2 Earnest money as distinguished from option money
1.3.3 Rights/obligations of vendor and vendee
1.3.4 Warranties (in relation to consumer laws)
1.3.5 Installment sales
1.3.5.1 Personal property – Recto Law
1.3.5.2 Real Property – Maceda Law
1.3.5.3 PD 957 / Condominium Act
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2.1 Pledge, Real Mortgage and Chattel Mortgage
2.1.1 Nature and requisites
2.1.2 Requirements to bind the parties and third persons
2.1.3 Obligations and rights of pledgor and pledge
2.1.4 Obligations and rights of
mortgagor and mortgagee
2.1.5 Effect of pactum commissorium
2.1.6 Modes of Extinguishment
4.1 Partnership
4.1.1 Nature and as distinguished from corporation
4.1.2 Elements and kinds
4.1.3 Formalities required
4.1.4 Rules of management
4.1.5 Distribution of profits and losses
4.1.6 Sharing of losses and liabilities
4.1.7 Modes and retirement requirements
4.1.8 Limited partnership
4.2 Corporations
4.2.1 Nature and classes of corporation
4.2.2 Incorporation and organization of Private Corporation
4.2.3 Powers of a corporation
4.2.3.1 Expressed
4.2.3.2 Implied
4.2.3.3 Incidental
4.2.4 Board of Directors/Corporate Officers
4.2.4.1 Qualifications
4.2.4.2 Election and removal
4.2.4.3 Powers and fiduciary duties
4.2.5 Classes of stocks
4.2.5.1 Concepts
4.2.5.2 Subscriptions
4.2.6 Powers, duties, rights and obligations of stockholders
4.2.7 Majority and minority control
4.2.8 By Laws
4.2.9 Meetings
4.2.10 Corporate reorganization
4.2.10.1 Mergers
4.2.10.2 Consolidations
4.2.11 4.2.10.3 Other business combinations
Non-stock corporation
4.2.12 Modes of dissolution and liquidation
4.2.12.1 Retirement Requirements
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4.2.13 Foreign corporations
4.2.13.1 License to do business
4.2.13.1.1 Purpose of the license
4.2.13.1.2 Requirements for application/issuance of license
4.2.13.1.3 Consequence of doing business without a license
4.2.13.2 Definition and rights of foreign corporations
4.2.13.3 Suspension or revocation of license
4.2.14 Kinds and availability of corporate books
4.2.15 Securities Regulation Code
4.2.15.1 Registration of Securities
4.2.15.2 Shareholders’ interests
4.2.15.3 Prohibition on fraud, manipulation, private tender offer and insider trading
4.2.15.4 Exchanges and other securities trading markets
4.2.16 Code of Corporate Governance
4.2.17 Securities and Regulation Code (SRC), Rule 68, as amended
4.2.18 SEC Circulars and Issuances
4.2.18.1 Filing of General Information Sheet
4.2.18.2 Filing of Annual Audited Financial Statements
4.2.18.3 Filing of Articles of Incorporation, By-laws and its amendments and Secondary License
4.2.18.4 Fines and Penalties
4.3 Cooperatives
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5.5 Data Privacy Act
5.5.1 General Provisions and National Privacy Commission
5.5.2 Processing and Security of Personal Information
5.5.3 Rights of the data subject
5.5.4 Accountability for transfer of information
5.5.5 Security of Sensitive Personal Information in Government
5.5.6 Penalties
NOTES:
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7. Intellectual Property Law can be discussed in Financial Reporting.
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32