1st Sem Review Calendar

7/25/2019 1st Sem Review Calendar

1/12

University of Saint Louis Accountancy Review Calendar 1stsemester SY 2016-201

DAY NO. DATE and TIME OF DRILL FAR TOPIC AFAR TOPIC TAX TOPIC

1 Cash to Accrual

Purpose

Singleen!r" #o$pu!a!ion o%

pro%i!

Re#on#iling pro%i! using !&e

!ransa#!ion approa#&

Con'er! #as& (asis re'enues

and e)penses !o a##rual(asis re'enues and e)penses

Par!ners&ip For$a!ion PRINCIPLES OF TAXATION

Nature, sco

classification, and essen

characteristics

Principles of sound

sste! Li!itations on the po"e

taxation

Tax e#asion #s $

a#oidance

Situs%place of taxation

* IFRS for Small and Medium SizedEntities

Repor!ing re+uire$en!s

Pe#uliari!ies

Prin#iples %or repor!ing

in'es!$en!s in e+ui!" and

de(! se#uri!ies

Par!ners&ip Opera!ion PRINCIPLES OF TAXATION

&ou'le taxation

Le(islation of tax la"s

I!pact of taxes in nat

'uildin( Ethical tax co!pliance a

ad!inistration

Or(ani)ation of the *ure

of Internal Re#enue, *ure

of Custo!s, Lo

+o#ern!ent Tax Collect

nits, *oard

In#est!ents, Philipp

Econo!ic -one Authorit

, Interim Reporting (IAS 34)

Purpose Prin#iples %or Re#ogni!ion

Par!ners&ip Opera!ions Re!edies of the (o#ern!ent

&efinition, sco

prescripti#e period

Ad!inistrati#e re!edies

1 ! " a # e


2/12


.udicial actions

- Emploee !enefits (IAS "#)

De%ined (ene%i! plan

De%ined (ene%i! lia(ili!" asse!/

Par!ners&ip Li+uida!ion Re!edies of the (o#ern!ent

Additions to

/Surchar(e, Inter

Co!pro!ise penalt0

Other sanctions /Cri!

penalties, Closure

*usiness, Collection

&elin1uent Taxes0

Po"ers of the *ureau

Internal Re#enue

0 Income $a% (IAS "&)

A##oun!ing pro%i!

Ta)a(le pro%i!

Corpora!e Li+uida!ion

S!a!e$en! o% A%%airs

De%i#ien#" S!a!e$en!

S!a!e$en! o% realia!ion and

Li+uida!ion

Re!edies of the taxpaer

&efinition, sco

prescripti#e period

Taxpaers ri(hts

Ad!inistrati#e re!ed

/Protestin( of Assess!e

Reco#er of excess

erroneousl paid tax

Re1uest for

co!pro!ise, a'ate!ent

refund or credit of tax

Re1uest for rulin(s0

.udicial re!edies

Expanded 2urisdiction of the Cour

Tax Appeals

2 ! " a # e


3/12


2 Finance 'ease Joint Arrangements (PFRS 11)

.oint Operations

.oint 3enture /E1uit

!ethod0Accountin( for S4E

Ta)pa"er and !a) (ase

Indi'iduals

Corpora!ions

Par!ners&ips

3oin! 'en!ures

Es!a!es and !rus!s

Coo4ners&ips

Ta) e)e$p! indi'iduals anorgania!ions

5 perating 'ease Ins!all$en! Sales +ross inco!e

Inclusions in the (ro

inco!e

Exclusions%exe!ptions fr

(ross inco!e

Inco!e fro! co!pensatio6 7orro4ing Cos!s IAS *,/

Na!ure

Cri!eria %or #api!aliing

(orro4ing #os!s

Long 8 !er$ Cons!ru#!ion Con!ra#!s 8

IAS 11 9 PFRS 10+ross inco!e

Inco!e fro! 'usiness

Passi#e inco!e su'2ect

final "ithholdin( tax

Capital (ains

: S&are(ased pa"$en!s IFRS */ Fran#&ise Opera!ions 8 Fran#&isor;s

poin! o% 'ie4 IAS 16 9 IFRS 10&eductions fro! (ross inco!e

Ite!i)ed deductions

Ite!s not deducti'le

Optional standard deduct

&eductions allo"ed un

special la"s

1< 7oo= >alue per s&are and Earningsper S&are

Fran#&ise A##oun!ing 8 SME

Consign$en! Sales 8 IFRS 10Accountin( periods

Accountin( !ethods

Reconciliation of inco

under PFRS and inco

under tax accountin(

$ ! " a # e


4/12


11 O!&er Co$pre&ensi'e In#o$e A##oun!ing %or ?o$e O%%i#e@ 7ran#&

and Agen#" Transa#!ionsTax return preparation and filin( a

tax pa!ents

4anual filin(

Electronic fil in( and

su'!ission

Lar(e taxpaers and n

lar(e taxpaers Inco!e tax credits

1* Re!ained Earnings A##oun!ing %or 7usiness Co$(ina!ion

PFRS ,/Tax return preparation and filin( a

tax pa!ents

3enue and ti!e of filin(

tax returns

3enue and ti!e of pa!e

4odes of pa!ent

se of tax ta'les

Acco!plishin( of #ari

inco!e tax returns afor!s

1, Di'idends IFRIC 15/ Separa!e Finan#ial S!a!e$en! PAS *5/ 6ithholdin( taxes /at sou

expanded or credita'le "ithhold

tax, final "ithholdin( taxes a

"ithholdin( tax on (o#ern!

pa!ents0

Ti!e of "ithholdin(

Inco!e pa!ents su'2ec

"ithholdin(

7ear5end "ithholdin( of

and re1uire!ents 3enue and ti!e of filin(

"ithholdin( tax returns

% ! " a # e


5/12


3enue and ti!e of pa!e

1- S&are spli!@ !reasur" s&ares

and o!&er e+ui!" !ransa#!ions

Re#api!alia!ion and +uasi

reorgania!ion

Consolida!ed Finan#ial S!a!e$en!s

PFRS 1


6/12


>enue and !i$e o% %iling o

!a) re!urns

>enue and !i$e o% pa"$e

15 Pre$iu$s and 4arran!ies

nearned re'enues %or gi%!

#er!i%i#a!es and su(s#rip!ions

?edge !&a! re+uires a ?edge

A##oun!ing

Fair 'alue &edge

?edge o% a Fir$ Co$$i!$en!

Pur#&ase or Sale

Transa#!ion/

Cas& %lo4 &edge

?edge o% a Fir$ Co$$i!$en!

Pur#&ase or Sale

Transa#!ion/

?edge o% a Fore#as!ed

!ransa#!ion Pur#&ase or Sale

Transa#!ion/

?edge o% a ne! in'es!$en! in

%oreign en!i!"

Es!a!e !a)

Modes o% pa"$en!

se o% !a) !a(les

A##o$plis&ing o% !a)

re!urns and %or$s

A!!a#&$en!s !o !&e !a)

re!urn

Ad$inis!ra!i'e re+uire$e

16 De(! Res!ru#!uring

Na!ure and %or$s

Prin#iples o% dere#ogni!ion

Transla!ion o% Foreign Curren#"

Finan#ial S!a!e$en!s PAS *19PAS *:/

Donor;s !a)

ross gi%!

E)e$p!ions Ta) ra!es in general and

4&en !&e donee is a

s!ranger


!a) re!urns

>enue and !i$e o% pa"$

1: A##oun!s Pa"a(le and O!&er TradePa"a(les

Ini!ial re#ogni!ion

Su(se+uen! $easure$en!

No! 8 %or 8 pro%i! organia!ions

>olun!ar" &eal!& and 4el%are

organia!ions >?O/

?ospi!als and o!&er &eal!&

#are organia!ions

Colleges and ni'ersi!ies

O!&er no! 8 %or 8 pro%i!

organia!ions su#& as#&ur#&es@ $useu$s@ %ra!erni!"

asso#ia!ion@ e!#.

Donor;s !a)

Modes o% pa"$en!

se o% !a) !a(les


re!urns and %or$s

A!!a#&$en!s !o !&e !a)

re!urn

Ad$inis!ra!i'e re+uire$e

6 ! " a # e


7/12


*< NonCurren! Asse!s ?eld For Sale

Classi%i#a!ion #ri!eria

Ini!ial and su(se+uen!

$easure$en! prin#iples

o'ern$en! A##oun!ing 8 eneral

Fund

7asi# Con#ep!s in

o'ern$en! A##oun!ing

7udge! Pro#ess

3ournal En!ries 8 7oo=s o%

Na!ional o'ern$en! Agen#"

>alue added !a)

Ou!pu! >AT

Inpu! >AT

>AT !a) #redi!s

*1 7iologi#al Asse!s A##oun!ing %or insuran#e #on!ra#!s ("

insurers PFRS -/

>alue added !a)

Re%und o% e)#ess inpu! >


donors !a) re!urns


Modes o% pa"$en!

** In!angi(les 8 A$or!ia!ion A##oun!ing %or (uild@ opera!e !rans%er

IFRIC 1*/

>alue added !a)


re!urns and %or$s

A!!a#&$en!s !o !&e !a)

re!urn

In'oi#ing@ and A##oun!ing

re+uire$en!s

*, Resear#& and de'elop$en!

e)pendi!uresIn!angi(les Su(se+uen! e)pendi!ures

3o( Order Cos!ing Per#en!age !a)

Ta) (ase and !a) ra!es >enue and !i$e o% %iling o

!a) re!urns


Modes o% pa"$en!

*- In!angi(les 8 Na!ure and Re#ogni!ionPrin#iples

Pro#ess Cos!ing Per#en!age !a)

se o% !a) ra!es


re!urns and %or$s

*0 In'es!$en! Proper!" 7a#=%lus& Cos!ing 3IT s"s!e$/ TAXATION NDER T?E LOCAL

O>ERNMENT CODE

S#ope and di%%eren! !"pes

lo#al !a)es Li$i!ed !o Re

proper!" !a)@ lo#al (usine

!a)/ Ta) (ase and !a) ra!es


!a) re!urns

! " a # e


8/12


*2 PPE I$pair$en! Ser'i#e Cos! Allo#a!ion Senior Ci!iens La4

E)e$p!ion %ro$ in#o$e !

o% +uali%ied senior #i!iens

Ta) in#en!i'es %or +uali%ie

es!a(lis&$en!s selling

goods and ser'i#es !o

senior #i!iens

Magna Car!a %or Disa(led Persons Ta) in#en!i'es %or +uali%ie

es!a(lis&$en!s selling

goods and ser'i#es !o

senior #i!iens

*5 Depre#ia!ion Me!&ods A#!i'i!"(ased #os!ing A7C/ Spe#ial E#ono$i# Gone A#!

Poli#" and !&e P&ilippine

E#ono$i# Gone Au!&ori!"

PEGA/

Regis!ra!ion o% in'es!$en

Fis#al in#en!i'es !o PEGA

regis!ered e#ono$i# one

en!erprises

*6 Proper!"@ Plan! and E+uip$en! 8

Na!ure@ Re#ogni!ion prin#ipleAnd Ini!ial re#ogni!ion (asis

3oin! and ("produ#! #os! ing O$ni(us In'es !$en!s Code 7oo=

o% E)e#u!i'e Order **2/ Poli#" and !&e 7oard o%

In'es!$en! 7OI/

Pre%erred areas o%

in'es!$en!

In'es!$en!s Priori!" Plan

Regis!ra!ion o% in'es!$en

Fis#al in#en!i'es !o 7OI

regis!ered en!erprises

*: In'en!or" Es!i$a!ion S!andard Cos!ing 7aranga" Mi#ro 7usiness

En!erprises 7M7Es/ A#!

Regis!ra!ion o% 7M7es

Fis#al In#en!i'es !o 7M7E

,< In'en!ories IAS */ Par!ners&ip For$a!ion Dou(le Ta)a!ion Agree$en!s DTA

Na!ure and purpose o%DTAs

Manner o% gi'ing relie% %ro

dou(le !a)a!ion

' ! " a # e


9/12


Pro#edure %or a'ail$en! o

!a) !rea!" (ene%i!s

,1 Call and Pu! Op!ions Par!ners&ip Opera!ion TARIFF AND CSTOMS CODE

Fun#!ions o% !&e 7ureau o

Cus!o$s

Fun#!ions o% !&e Tari%%

Co$$ission

Na!ure o% !ari%% and #us!o

du!ies

7asis o% assess$en! o% d

Do#u$en!s re+uired %or

i$por!a!ion o% goods

Do#u$en!s re+uired %or

e)por! o% goods

,* In!eres! Ra!e S4aps Par!ners&ip Dissolu!ion PRINCIPLES OF TAXATION

Nature, sco

classification, and essen

characteristics

Principles of sound sste!

Li!itations on the po"e

taxation

Tax e#asion #s $

a#oidance

Situs%place of taxation

,, Fu!ures Con!ra#! Par!ners&ip Li+uida!ion Re!edies of the (o#ern!ent

&efinition, sco

prescripti#e period

Ad!inistrati#e re!edies

.udicial actions

( ! " a # e


10/12


,- For4ard Con!ra#!s Ins!all$en! Sales Re!edies of the (o#ern!ent

Additions to

/Surchar(e, Inter

Co!pro!ise penalt0

Other sanctions /Cri!

penalties, Closure

*usiness, Collection &elin1uent Taxes0

Po"ers of the *ureau

Internal Re#enue

,0 In'es!$en!s in Asso#ia!es e+ui!"$e!&od o% a##oun!ing/

Long 8 !er$ Cons!ru#!ion Con!ra#!s 8

IAS 11 9 PFRS 10Re!edies of the taxpaer

&efinition, sco

prescripti#e period

Taxpaers ri(hts

Ad!inistrati#e re!ed

/Protestin( of Assess!e

Reco#er of excess

erroneousl paid tax

Re1uest for

co!pro!ise, a'ate!ent

refund or credit of tax

Re1uest for rulin(s0

.udicial re!edies

Expanded 2urisdiction of the Cour

Tax Appeals

,2 In'es!$en!s in De(! Ins!ru$en!s

Finan#ial Asse!s a! Fair >alue

!&roug& Pro%i! or Loss E)#ep!

Deri'a!i'es/ Finan#ial Asse!s a! Fair >alue

!&roug& O!&erCo$pre&ensi'e In#o$e

A##oun!ing %or 7usiness Co$(ina!ion

PFRS ,/

Ta)pa"er and !a) (ase

Indi'iduals

Corpora!ions

Par!ners&ips

3oin! 'en!ures

Es!a!es and !rus!s

10 ! " a # e


11/12


Finan#ial Asse!s a! A$or!ied

Cos!

Coo4ners&ips

Ta) e)e$p! indi'iduals and

organia!ions

,5 Loans and Re#ei'a(les Finan#ialAsse!s a! A$or!ied Cos!/

Separa!e Finan#ial S!a!e$en! PAS *5/ +ross inco!e

Inclusions in the (ro

inco!e

Exclusions%exe!ptions fr(ross inco!e

Inco!e fro! co!pensatio,6 Cas& Cas& E+ui'alen!s Consolida!ed Finan#ial S!a!e$en!s

PFRS 1


12/12


S!a!e$en!s

Finan#ial Capi!al and P&"si#al

Capi!al

A!!a#&$en!s !o !&e in#o$

!a) re!urn@ in#luding CPA

#er!i%i#a!e@ per NIRC

re+uire$en!

Beeping o% (oo=s o%

a##oun!s and re#ords@

in#luding repor! o%

in'en!ories

Pres#rip!i'e period o% $ain!ain (oo

o% a##oun!s and o!&er a##oun!ing

re#ords

-1 Accounting +rocess

AdHus!ing En!ries

A##oun!ing C"#le

o'ern$en! A##oun!ing 8 eneral

Fund

7asi# Con#ep!s in

o'ern$en! A##oun!ing

7udge! Pro#ess

3ournal En!ries 8 7oo=s o% Na!ional

o'ern$en! Agen#"

>alue added !a)

Ou!pu! >AT

Inpu! >AT

>AT !a) #redi!s

-* ,e-elopment of Financial ReportingFrameor* and Standard.Setting!odies/ Regulation of theAccountanc +rofession

Pro#ess Cos!ing Per#en!age !a)

Ta) (ase and !a) ra!es


!a) re!urns >enue and !i$e o% pa"$

Modes o% pa"$en!

12 ! " a # e

1st Sem Review Calendar

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