Assignment 1 - Prelim Period

Marcelo D. Villalobos Jr.
Principles and Methods of Teaching Accounting

BSA – BCM January 24, 2023
After reading information sources on Continuing Professional Development in the Philippines, answer
the following questions:
1. Explain the goals of the Continuing Professional Development for Professionals like CPAs.
According to the information source, I’ve read, Continuing Professional Development (CPD) in the
Philippines is a lifelong learning process that has a goal to enhance the competence of the professional by
upgrading and updating knowledge and skills for the profession as brought about by modernization,
scientific and technical advancements in the profession. Simply put, the goal of continuing professional
development is to assist professionals in both broadening their knowledge in their related fields of expertise
and assisting them when issues arise, such as technological advancements that may have an impact on
some areas of what they study in their professions. Moving on, to be more specific, the goal of Continuing
Professional Development contributes to the professions like Certified Public Accountants as well because
there are instances when there are revisions in accounting standards wherein accountants must be updated
in order for them to execute their jobs appropriately. CPD assists accountants to be updated on certain
matters by requiring them to complete the required CPD units (e.g., Attending a seminar relating to their
profession) to retain their profession as an accountant.
2. Discuss the significance of having Continuing Professional Development for CPAs and other
professions in the Philippines.
There are 3 significances stated in the information source I’ve read, the 1st one is to keep the
technical skills of the professionals up to date because some of the understanding in some areas of their
learning may be updated from time to time. Let’s say a Certified Public Accountant Profession, from time
to time there are instances wherein the accounting standards are updated. As a result, accountants are
required to be aware of such changes because they must be competent in their profession in order to
appropriately execute the job assigned to them. The 2nd significance of CPD is for the professionals to stay
informed in relation to current topics that allow them to deal with related problems in an efficient way.
Simply said, as I mentioned in my statement to the question prior to this one, CPD helps accountants and
other professionals by compelling them to accrue credit points relevant to their field by participating in a
variety of events (e.g., Activities outside work such as committee participation, lecturing or presenting).
Lastly, the 3rd significance of CPD is to assist professionals in accessing continuing personal development
so they may advance their careers as future leaders because some professionals struggle to find new sources
of fulfillment in their lives after accomplishing their life goals. From the term alone, continuing professional
development helps professionals including certified public accountants to find new methods to succeed in
their life. This might be accomplished by allowing the professionals to participate in a variety of activities
designed to increase their knowledge, keep them updated, and inspire them to advance in their careers.
References:
https://www.dole.gov.ph/continuing-professional-development-cpd/
https://wcaty.org/why-is-continuing-professional-development-important-for-teachers/
https://cpduk.co.uk/news/importance-of-
cpd#:~:text=Continuing%20Professional%20Development%20exists%20to,specific%20industry%20and%20job%20function.
Marcelo D. Villalobos Jr. Principles and Methods of Teaching Accounting
BSA – BCM January 24, 2023
3. Why do you think Continuing Professional Development is important to educators?
Educators or education professionals place a high value on Continuing Professional Development

(CPD) because it keeps their knowledge updated and keeps their skills updated. As time goes on, a new
generation emerges, and this implies that there will be a distinguishing feature that separates generations'
teachings. This is where CPD comes in, it teaches new techniques to the teachers in order for them to cope
with the fast-paced advancement of technology because of modernization. Additionally, CPD will enable
them to keep up with the most recent advancements in the education industry and support them in
changing their teaching style. This means that CPD significantly aids professionals throughout the world
in their quest to advance their knowledge and keep up with modernization, both of which contribute to
the development of any nation that engages in Continuing Professional Development (CPD)
References:
https://www.dole.gov.ph/continuing-professional-development-cpd/
https://wcaty.org/why-is-continuing-professional-development-important-for-teachers/
https://cpduk.co.uk/news/importance-of-
cpd#:~:text=Continuing%20Professional%20Development%20exists%20to,specific%20industry%20and%20job%20function.

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Marcelo D. Villalobos Jr.

Principles and Methods of Teaching Accounting

3. Why do you think Continuing Professional Development is important to educators?

Educators or education professionals place a high value on Continuing Professional Development

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