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

• Other topics

Auditing

• The Professional Practice of Accountancy

• Introduction to Audit and Other Assurance Services

• Risk-based Financial Statements Audit Process, Responsibilities and Objectives

• Audit Evidence and Documentation

• Audit Planning and Materiality

• Identifying and Assessing the Risk of Material Misstatements

• Considering Errors, Fraud, and Non-compliance with Laws and Regulations

• Considering Internal Controls

• Audit Practice: Audit of Assets

• 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

• Consolidated and Separate Financial Statements

• 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.