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What is the law regulating the practice of accountancy in the Philippines?
R.A. NO. 9298
R.A. NO. 9198
R.A. NO. 9928
R.A. NO. 9892
It is the body authorized by law to promulgate rules and regulations affecting the practice of the accountancy profession in the Philippines.
Board of Accountancy
Philippine Institute of Certified Public Accountancy
Securities and Exchange Commission
Financial Reporting Standards Council
What are the three main areas in the practice of the accountancy profession?
Public accounting, private accounting and managerial accounting
Auditing, taxation and managerial accounting
Financial accounting, managerial accounting and corporate accounting
Public accounting, private accounting and government accounting
What is the primary service of CPAs in public practice?
It is the are of the accountancy profession that encompasses the process of analyzing, classifying, summarizing and communicating all transactions involving the receipt and disposition of government funds and property and interpreting the results thereof
The Continuing Professional Development is required for
Renewal of CPA license
Accreditation to practice the accountancy profession.
Both renewal of CPA license and accreditation to practice the accountancy profession
Neither renewal of CPA license nor accreditation to practice the accountancy profession.
Which statement is incorrect in relation to the practice of public accounting?
Single practitioners for the practice of public accounting shall be registered CPAs in the Philippines.
Partners of partnership formed for the practice of public accounting shall be registered CPAs in the Philippines.
The Securities and Exchange Commission can register any corporation organized for the practice of public accounting.
The Professional Regulation Commission upon favorable recommendation of the Board of Accountancy shall issue certificate of accreditation to CPAs in public practice provided the registrant has acquired a minimum of three years of meaningful experience in public practice
The purpose of the International Financial Reporting Standard is to
Issue enforceable standards which regulate the financial accounting and reporting of multinational entities
Develop a uniform currency in which the financial transactions of entities throughout the world would be measured
Promote uniform accounting standards among countries of the world
Arbitrate accounting disputes between auditors and international studies
Among the career opportunities of a CPA, where are you interested the most?
Mag minyu nlng ug CPA 😂