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 lia...

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.

 Hi class! INSTRUCTIONS: Please answer the sets of questions here and upload them to our uploader link posted below. Please use WORD/ PDF format when uploading your answers. TEST I. IDENTIFICATION : Please identify each of the following terms below. 1. _________________ It is a juridical necessity to give, to do, and not to do. 2. _________________ It means that the court may be asked to order the performance of an obligation if the debtor refuses to perform it. 3. _________________ The meeting of the minds between two persons, whereby one binds himself, with respect to the other, to give something or to render some service. 4. _________________ This refers to voluntary administration of the property, business or affairs of another without his consent or authority. 5. _________________ This refers to payment by mistake of an obligation which was not due when paid. It creates the obligation to return the payment. 6. _________________ These are the spontaneous products of the soil an...

LEGAL ISSUE: Did Angel Locsin commit imprudence and negligence under article 365 of the Revised Penal Code after the senior citizen died while waiting for his turn to receive some goods from Angel Locsin's birthday community pantry? Was she liable for damages under article 1172 of the New Civil Code as well due to negligence in maintaining order while conducting community pantry? (disclaimer: Photos grabbed from the internet) What is your legal opinion about this?

  What you need to know about filing BIR Form 2551Q or Quarterly Percentage Tax (QPT)? What is BIR Form No. 2551Q. Who are required to file BIR Form No. 2551Q. How to compute for Quarterly Percentage Tax. When and where to file Quarterly Percentage Tax. How to pay Quarterly Percentage Tax. Penalties imposed for failure of filing or non-compliance. Taxation in the Philippines has undergone major transformations and new laws were implemented at the beginning of the fiscal year 2018. For those that use a n   online tax calculator in the Philippines , don’t be too alarmed. We’re sure companies will learn to adapt and change their algorithm appropriately. That said, even if you do use online tax calculators or don’t handle your own taxes, you still have to remain informed. The  TRAIN law  changed a lot of things regarding tax computations and filing. One change in particular and the one we’ll be discussing today is the revised BIR Form No. 2551Q or the quarterly...