Category Archives: Accounting, Audit and Tax

Facts about accounting.

Announcement: There are No Solutions Manual Here

This blog has lately been bombarded with the request for a copy of the solutions manual of the reviewer book of Atty. Conrado Valix on Financial Accounting. I have confirmed that the commenter, Maria Luz, is offering a copy of the answer—

The Simple Story About the Credit Crisis

A quick video walkthrough of how the credit crisis happened: The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

Implementing Rules and Regulations – RA 9504

At long last, the BIR has issued the final IRR (Implementing Rules and Regulations) of Republic Act No. 9504, an Act Amending Sections 22, 24, 34,35, 51 and 79 of Republic Act no. 8424. It’a available for download from the BIR website.—

Pertinent Articles on RA 9504

There are pertinent articles regarding RA 9504 over at Punongbayan & Araullo’s Press Room. They describe the issues surrounding the law. You can read the articles here, here, and here. Many concerns have been raised, and my favorite: Is this really what—

De Minimis Benefits under the NIRC

Disclaimer: The article that follow is my personal opinion, intended for discussion purposes only. It should not be construed as official opinion or regulation by any governmental agency that has authority over the matter. Found this in my inbox: Remy: Can you—

Republic Act 9504

An Act Amending Sections 22, 24, 34,35, 51 and 79 of Republic Act no. 8424, as amended, otherwise known as The National Internal Revenue Code of 1997 Looking at the stats of this site, I’m sure many are already looking for a—

The Tax Exemption Bill

According to this news, the approval of the tax exemption bill that’s been pending in the Senate was rushed. I say this has long been overdue. MANILA, Philippines — With three weeks left before Congress goes into recess, the Senate is rushing—

Filipino Auditors in Inquirer News

Published today (May 16, 2008) in the Philippine Daily Inquirer an article by Ms. Edel Mary D. Vegamora, CIA, the CIA Country Coordinator-Philippines, the revised version of her earlier article (posted here), this one entitled, “Filipino Auditors on Top of the World”.—

The Tax Reform Act, A Decade Old

Republic Act 8424 (Philippine Law), otherwise known as the Tax Reform Act of 1997 or the Revised National Internal Revenue Code (NIRC) of 1997, which became effective in 1998, is already more than a decade old law. It’s basically a comprehensive law—

Filipinos on Top of the World

Related to the article I posted a while ago, here’s another article written by Edel Mary D. Vegamora, the CIA Country Coordinator for the Philippines. (Note: this was originally posted in her multiply blog, “From Edel’s Observation Deck“, which is the same—

Bear Stearns at 2.4% of Book Value

Could this be how bad the recession in the US is right now? Bear Stearns Cos., one of the largest global investment banks and securities trading and and brokerage firms in the world, entered into a deal to sell its business to—

CIA Exam November 2007

The official results of the November 2007 Certified Internal Auditor (CIA) Exams for Philippines candidates are out, although the news are not yet included in the News and Events section of the IIA Philippines website as of this post. Results are also—

Ex-Deloitte Philippines Information Hub

The Ex-Deloitte Philippines Information Hub is officially launched. No cutting of ribbons, really. Just putting up the website online. The site was designed to cater to the former C.L. Manabat & Co. (Deloitte – Philippines) professionals, wherever side of the world they—

The Letter Says: “Passed”

Foreword: The registrar transfer for the domain name, “deuts.net”, is really giving me headaches. I can’t wait for the 7 days buffer before the losing registrar actually releases the domain name to the new one. So, we may encounter problems related to—

The Big Four

It’s interesting to note how the Big 8 was cut down into the Big 4. Read how.

The firms were called the Big 8 in the 1970s and 1980s, reflecting the international dominance of the eight largest accountancy firms:

The Desperate Episode

Here is the Desperate Housewives episode that made controversial headlines especially in the Philippines:

There are a very few movies or tv series (if there is any, indeed) related to accounting or the lives of professional accountants, very rare is the opportunity to demonstrate [more]