GLIMPSE OF A CPA'S MIND

 Hi Class! For your final examination on Intermediate Accounting, please follow the process below: (1) Please visit  zzi.sh (2) Please enter your assigned PASSWORD (CLASS CODE sent to your group chat) to fully access the exam site. (3) For computational problems, kindly upload your solutions here .

 INSTRUCTION: Class, please provide your legal opinion for each individual cases and upload it on the uploader link provided at the end of this article. I. CASE 1 - A two-year-old child fell on an old water well. (source: GMA News) (1) Are the parents liable for negligence resulting to death of their 2-year-old child? Please provide your legal opinion with legal basis. (2) Is the owner of an old well also liable for negligence resulting to death of a 2-year-old child? Please provide your legal opinion with legal basis. II. CASE 2 - A 7-year-old girl died due to Jellyfish sting at Camarines Sur Resort                                                                                    (source: GMA News) (1) Is the Camarines Sur Resort liable for both civil and criminal offenses for any negligence that resulted to death of a 7-year-old child?  Please provide your legal opinion with legal basis. (2) Is the Camarines Sur Resort liable to pay damages to the family of the victim? What are th

INVENTORIES Inventories are items or goods in stocks principally intended for sale to customers. In a layman's terms, these are the goods being sold in a marketplace, malls, groceries, supermarts, convenience stores, and others alike. (source: from Google image search) But what really is the exact definition of inventory? In this blog, I would like to introduce to you the International Accounting Standard No. 2 (IAS 2) which covers the accounting for inventories. IAS 2 contains the requirements on how to account for most types of inventory - whether it is raw material, work in process, finished goods, or merchandise goods. For a more comprehensive discussion of inventory, you may also check the following applicable accounting standards: FOR LARGE/ LISTED ENTITIES FOR SMALL & MEDUIM-SIZED ENTITIES FOR MICRO-ENTITIES PAS 2 – Inventories Section 13 (PFRS for SMEs) – Inventories Section 8 (PFRS for SEs) – Inventories

 Dear students, For your midterm examination on Intermediate Accounting, please follow the process below: (1) Please visit  zzi.sh  . (2) Please enter your assigned PASSWORD (CLASS CODE sent to your group chat) to fully access the exam site.