Coverage of the First Pre-board Examination
Management Advisory Services
Overview of Management Services
Costs Volume Profit (CVP) Analysis
Standard Costing and Variance Analysis
Variable and Absorption Costing
Short-term Budgeting, Additional Financing Needed and Forecasting
Balanced Scorecard and Responsibility Accounting
Short-term Decisions or Relevant Costing
Other topics
Auditing
The Professional Practice of Accountancy
Introduction to Audit and Other Assurance Services
Audit Objectives and Responsibilities
Audit Evidence and Documentation
Audit Planning and Materiality
Assessing the Risk of Material Misstatement
Assessing and Responding to Fraud Risks
Consideration of Internal Controls and Assessing Control Risk
Consideration of IT in Audit
Finalizing Audit Strategy and Audit Program
Test of Controls and Substantive Audit Procedures: Audit of Asset Accounts
Other topics
Taxation
General Principles of Taxation
Individual Taxation
Sources of Income
Withholding Tax System
Capital Asset and Capital Gains Tax
Fringe Benefits Tax and De Minimis Benefits
Gross Income - Inclusions
Gross Income - Exclusions
Deductions from Gross Income
Taxation of Non-Individual Taxpayers
Other topics
Regulatory Framework for Business Transactions
Obligations [RA 386]
Contracts [RA 386]
Sales [RA 386]
Credit Transactions [RA 386]
Partnership [RA 386]
Revised Corporation Code [RA 11232]
Other topics
Financial Accounting and Reporting
The environment of financial accounting and reporting
Inventories
Estimating inventories
Accounting for agricultural activity
PPE - acquisition and subsequent expenditures
PPE - depreciation and derecognition
PPE - revaluation
Investment property
Intangible assets
Wasting assets
Impairment of nonfinancial assets
Noncurrent assets held for sale
Government grants
Borrowing costs
Cash and cash equivalents
Bank reconciliation
Trade and other receivables
Loans and receivables - long term
Generating cash from receivables
Investments in debt instruments
Investments in equity instruments – Financial assets at fair value
Investments in equity instruments – Associates
Other topics
Advanced Financial Accounting and Reporting
Partnership
Corporate Liquidation
PFRS 15 and Franchise Accounting
Long Term Construction Contracts
Consignment Sales
Joint Arrangement
Home Office and Branch
Business Combination
Consolidation at the Date of Acquisition
Other topics
The phrase ‘other topics’ in the subject coverage shall mean to include all other topics in the CPA Examination Syllabi not expressly mentioned in the examination coverage and shall constitute, more or less, twenty percent (20%) of the questions given per subject. The questions/problems are intended to test your ‘stock knowledge’ on the topics.