Financial Accounting I 2006 Edition

A new version of “Financial Accounting I” has already been released by Atty. Conrado T. Valix and Jose Peralta. It incorporates the new standards: Philippine Accounting Standards, Philippine Financial Reporting Standards, International Accounting Standards, and International Financial Reporting Standards.

The book has a whole new different look.

010 valix_book

It has been 5 years since I last used Valix’s book. It was like a bible during our review for the board exams. Surely, I missed those days when I was yet reading it from cover to cover.

The book can be described as concise but almost complete. Simple but full of information. The context is broad but covers almost every topic.

It seems a must that every reviewee hold a copy of this book during the review. Surely, Atty. Valix found his niche into the accountancy profession.

261 Comments

rachelle November 20, 2008 Reply

to roy:

Parang maging effective ang pagaaral dapat gumawa ka ng schedule na magseserve mo as a guide. Dapat din realistic yun like for example wlang nood ng tv, socializing, labas ng bahay at ang buong schedule eh napunta sa kain, tulog at aral which is impossible kasi darating sa point na mabobore ka at di mo talaga makakaya yung ganun. Never make schedules that’s impossible for you to follow. And ang pinakaimportante wag na wag kang magpupuyat to the point na 3 hours a day ka na lang natutulog kasi di mo yun kakayanin katagalan and worst pag nagkasakit ka mas malaki ang balik nun baka lalo lang magsuffer ang pagaaral mo.

roy barrientos November 20, 2008 Reply

thnx kasi naman marami ring mga minors na klangan pag aralan now adays eh ang masakit pa mas maraming pinapagawa sa minor subject maraming trabaho kea d ako makafocus ng mabuti sa major subject ko… at ou nagpu2yat ako para sa major ko peo d naman ako umabot sa ganyng oras na p[agtulog tnx sa paa
la2

rachelle November 20, 2008 Reply

oo nga eh. lalo na yung english na puro business letter writing tapos after mo unahin kesa sa acctg subject mo eh irereject lang. tapos yung math na puro graph na nakakaubos oras. hay

roy barrientos November 21, 2008 Reply

miz rachelle pareho pala tau jejeje peo auz lang sa math d ako maxado nahi2rapan kahit pa2no dun kaso ung mga history, rizal, taz ung its na may feasibilty study, at ung mgment ay grv cla ang umuubos ng oras para sa acoounting na major ko hay…..

mz. rachelle mahirap ba ang taxation kc dko pa nku2ha?….. pati na rn sa bord ito ba ang pinakamahirap sa laht?

deuts November 21, 2008 Reply

To Maria Luz,

naka ilang post ka na with the same message. Kung may gustong magbigay sau nyan, matagal na binigay. Please don’t spam this discussion. Don’t push me to mark your comment as spam…

rachelle November 21, 2008 Reply

tax. okay lang naman ang tax. ang mahirap siguro yung pangactual na kapag nagwowork ka na. kasi lagi may bagong updates. yung tax kasi once maintindihan mo na yung topic or yung purpose nung bawat isa dun, madali na lang naman. sa board naman kasi yung tax at law eh tig 35 questions. masama lang sa pakiramdam na ang dami mong aaralin sa tax para lang sa 35 questions. basta pag nagtaxation ka na tapos wla namang nirequired na book si prof mo. bili ka na lang book ni reyes kasi the best un.? 2 volumes yung book nya at meron din syang reviewer.

rachelle November 21, 2008 Reply

to maria luz

bili ka na lang ng reviewer ni valix or uberita kasi halos ganun din naman yung style ng question sa book at sa reviewer. kung ang reason mo naman eh dahil yun ang lumalabas sa exams nyo. kalokohan na yun kasi cheating na yun. kasi sa actual board naman di allowed ang cheating kaya pangit na practice yan. meron nagcomment dito na nagbebenta ng answer keys nagbigay sya ng email add. try mo iemail pero may nagpapabayad ata sya eh.

maria luz November 26, 2008 Reply

to mr. Deuts, and miz rachelle,

thanks for the tips, nk kuha na me ng solution manual, sa CPAR me nk kuha…. sorry tlaga kung parang na spam ko na ung discussion… im so sorry … gusto ko lang kcng mk pag review ng ma ayos, i failed kc s bar exam eh… kya pang 2nd time n2… kya im sorry tlaga…

deuts November 26, 2008 Reply

@ Maria Luz, sori din if I have been harsh on you. do you mean board instead of bar? Anyway, gud luck….

maria luz November 26, 2008 Reply

to mr. deuts,

heheh… ok lang po un …. i understand… sobrang na pre pressure lang po kc ako sa exam at sa pag rereview… kc feeling ko nde pa ko handa…
thanks anyway…

rachele November 26, 2008 Reply

hi maria luz cpar ka din ba review ngayon? dun din ako eh. baka nga magkklase pa tayo. what session mo and room no.?

roy barrientos November 27, 2008 Reply

ms. rachelle and ms. luz
gudlak xainyo sana makapasa kaung dalwa
more power and godbless

marialuz November 27, 2008 Reply

to. roy barrientos, mz rachelle.,

thanks s support….. gudluck sten…..

errovan December 6, 2008 Reply

magtatake ka na roy?…
hehe.. recently nabasa q ung bout taxation..,
ay naku super dali ng taxation parang partnership nd corpo lang xia!., kaso lalagyan mu lang ng tax..
try mu irefresh ung accounting for income tax.. almost the same ung theory nila.,
u won’t get frustrated once u have red it!.,
i assure you, you will pass the board kpg namaster mu na xa.,
at firs may confusion. magtatanong ka pnu nakuha ung sagot pero as long as you read it.. you will then figure out na madali lang pla xia..
try mu iapply sa financial yan.,
bsta wag ka lang mag-cheat sa computer ng mga answers, may practical nd TOA aman ii., marereview ka talaga., pramis.. pero wag copy paste pg quizzes… masterin’ mo..1

okies..
ghEeE..

roy barrientos January 15, 2009 Reply

hai d pa ako magta2ke kaw tapos kana bang nagtake? gudlak xeu jejej

marnil December 24, 2008 Reply

try to solve without any solution manual para hindi ka dependent, its good for you

rachele January 31, 2009 Reply

dpat hindi sinisend ang answer key ng financial accounting sa mga undergrad kasi merong mga prof na dun kumukuha ng exams or quizzes nila. kahit sa cpar di nila binibigay yun kung di ka reviewee.

maria luz February 3, 2009 Reply

to miss rachelle,

ask ko lng kung meron pbng 2008 ed. na available??..
bka my alam u, kung skali lng… out of stocknkc s mga bookstore.. need ko kc… it will really help me a lot..

thanks in advance…

rachelle February 3, 2009 Reply

the last time na pumunta ako sa recto meron pang book 1 and 3. 2008 edition january firs week yun. pero ngayon siguro wla na. try mo sa conanan beside UE or conanan malapit sa RESA. along UE papuntang recto may mga bookstore din dun. merriam ata, siguro meron dung mga 4 bookstores maliban sa national

rachelle February 3, 2009 Reply

the last time na pumunta ako sa recto meron pang book 1 and 3. 2008 edition january firs week yun. pero ngayon siguro wla na. try mo sa conanan beside UE or conanan malapit sa RESA. along UE papuntang recto may mga bookstore din dun. merriam ata, siguro meron dung mga 4 bookstores maliban sa national.

benedict July 30, 2009 Reply

ive been looking for the latest copy of any of te book of atty. valix in nbs wala daw where can i buy on???

bernadette August 12, 2009 Reply

hi po…
2nd year po ako ngaun and i’m very depressed sa grades ko..ung accounting ko 75 at finance 71…dapat maka 83 ako para pumasa,.,….
it’s my first time to get a very low grade like this kaya nadidiscourage na ako kung mapapasa ko pa to…
advice naman po…

rachelle August 16, 2009 Reply

hi bernadette, mas maganda nyan maglie low ka muna sa gimik, barkada at tv. kasi sa totoo lang yan ang sagabal sa pagaaral. di naman ibig sabihin na sobrang wag ka ng manood at makipagkaibigan. pero bawasan lang. gawa ka ng checklist ng dapat mong gawin corny mang pakinggan. kasi ako nung nagaaral pa ko. di naman ako yung pinakamagaling sa klase pero di ako bumabagsak kasi i see to it na lahat ng requirements ko napapasa ko.

kasi baka ang kulang sayo di mo alam yung dapat mong gawin para at least makaquota ka. like for instance accounting subject, alamin mo kung saan ba nagfofocus yung teacher na yun sa paggawa nya ng grades. may prof kasi na pagawa ng pagawa ng exercises pero di naman chinicheck tapos nagbabase lang sa quizzes tuloy nauubos time mo kagagawa ng exercises tapos ang ending papasok ng maaga bukas kasi mangongopya na lang kinabukasan, pag finals na malalaman mo di pala nagchecheck ng exerices , may finance teacher naman na nagfofocus sa reporting o sa projects.

ang pinaka the best na solution dyan magtanong ka sa mga dating student na naging prof yun prof mo para makakuha ng idea kung pano ihahandle ng tama ang subject na yun.

next tip eh kung nahihirapan ka sa subject ganito gawin mo, kung mwf ang subjet mo maglaan ka ng 2-3 hours a day na magaral sa subj na yun at yung t-th naman para dun sa iba, give more time sa mas nahihirapan kang subj, pag nakita mo na yung bunga ng sacrifices mo di mo na kelangan mageffort na magaral next time kasi kusang gagawin mo na un kasi nageenjoy ka na magaral para mafeel mo ulit yung satisfaction ng nakakasunod at paeasy easy na lang magaral.

pag sa accounting ka nahihirapan, makinig ka ng mabuti sa prof at magtakedown note kahit di mo na nagegets. then bili ka ng books na maganda based sa mga dating students o sa librarian, then magselfstudy ka. try to solve more problems para maencounter mo yung diff problems. tiis lang then mga one month pag nasa sistema mo na yang ganyang habit. dun na magsstart yung ikaw na ang kusang maghahanap ng mga new books na gagamitin mo para mapadali ka sa pagaaral.. kung bumagsak ka man ngayong sem sana magsilbing lesson yan. itake mo ulit sa next sem saka mo gawin yung sinabi ko. tingan mo magiging magalign ka din katagalan. walang bobo sa accounting, nasa sipag yan ng studyante, kaya lang may honors sila lang yung madaling makapick up. pero kung matyaga ka lang magbasa at magsolve di malabong lumelevel ka sa kanila. promise

mae August 16, 2009 Reply

nkakatuwa kse mas na-a appreciate ko na financial accouting dahil sa constructive accouting namin naun. mejo hirap nun una dahil di ko maxado natutukan basic acctg 1.2 but as the days pass by, laging accounting books ang kaharap kong book parang kahit pano e naeenjoy ko na din xa. thankful ako kse nakabawi ka-agad ako, nun first year kse ako mejo di pa tlaga makpagadjust, and i can say na mejo na bigla ako., but nun acctg 3.4 na mejo nabaling atensyon ko, mejo masaya kse pagusapan ang partnership and corporation.

and now, third year na din, mas masaya na. although mahirap nun una, sabi nga nila ‘makakasanayan din talaga later on’.

i’m not really looking forward to be a CPA, kse natatakot ako madiscourage parents ko. when u took exam kase andun na ung thought and faith na papasa ka. natatakot ako maging failure. pero magtatry pa din ako, maybe after a year i graduated pa. i decided to work muna kse.

i just wanna share sa mga mei prob jan bet minor and major subs. problema ko din kase dati yan, but later on napagaralan ko na din ung takbo ng ibang minor subs. since na were not block section naman. i see to it na ung mga subs ko e will not affect my major subs. mahrap kse ung ganon. kaya i try to ask higher students kung ano ba status nun subs na un, kung demanding ba? lalo na ung humanities samin. ang daming ginagawa. ang sometimes u have to spend time with your groupmates pa kse u have to practice for your exercises chuva, xempre mababawasan na time ko with my major kaya ung mga ganon eliminated muna sa list ko. hehe. ganon lng, and i made habit na gumgawa ng things to do na nakadikit sa place na laging kong nakikita. nakakapagod na agad ako pagnakikita ko un, pero kelangan ee.

accounting students, kaya natin to!
this is for our parents!
:0

anonymous August 18, 2009 Reply

I’m a second year accountancy student at the university of st. la salle-bacolod. i really find my subject financial accounting 1 very hard. we are using the book of atty. valix as our reference. we have a cut-off grade of 83% and we must maintain that for us to be able to stay in the accountancy program. to those Certified Public Accountants who are able to read this, I need some advice from you. Please share with us, aspiring accountants some tips in order for us to reach success in this field of endeavor that we have chosen. i will greatly appreciate your response on this matter. thank you.

joyz.. August 19, 2009 Reply

Elow po… thanks sa lahat ng mga advices nio nd inspiring msgs.. 2nd year accountancy din po ako nd medyo nahihirapan dn xa fin. acctg. 1 kc ung tchear nmin di na maxado ngle2cture… pgdating xa class eh mg.aactvty nlng kmi tpos sa2bihin, “ok class, gni2ng problem e2 ung answer panu un knuha,” kaya nahi2rapan ako kc for almost 2 months akong wlang book. I wasn’t able to buy kc out of stock… Medyo nahi2rapan po ako… Advice po… Thank u…

deuts August 19, 2009 Reply

In any case joyz, you shouldn’t be totally relying on your teachers. Yes, they are a factor in your success, but the major factor really lies in yourself.

Walang magagawa ang teachers mo kahit anong galing pa nila magturo kung ikaw mismo ayaw mo matuto. Pero if it’s the other way around, kung ikaw mismo magpupursige para sa sarili mo, kahit actually hindi ka na umattend ng klase aral ka lng ng libro, matututo at matututo ka rin. Trust me, it’s based on experience.

Joy August 21, 2009 Reply

hi po.. how lucky I am at nakita k po 2ng site na 2.. gusto ko lang po kasi humungi ng advice aswell as encouragement sa inyo nabasa k p kasi ung advice nyo sa isang sender nyo nakakainspire po… Ngaun po kasi im a sencond year accountancy student… advice lang po kasi sa ngaun p i find financial accounting quite hard n po d n mganda mga results ng exam ko then naiicip ko p na mag give up na.. pero p gusto ko p tlga mging cpa someday pinipilit ko png intindihin lhat ng problems. need some encouragement from you sir. Give me advice din po kung pano p ung effective n pagrereview and pagse2lf study p ng accounting.. lyk kunwari po maytama bng specific n tym sa pagrereview po.. tips p para mging effective p ung pagrereview ko.. tnx po.. sorry p kung dmi kng tanong gusto k lang p tlga magimprove ako and I know your advices will help alot..

rachelle August 22, 2009 Reply

hi, tanong ko lang sana bakit dina maview yung mga previous post dito tulad dati. pakituruan naman po ako, hahaha matagal na din kasi akong di nakakavisit sa site na to

deuts August 22, 2009 Reply

Hi rachelle, you can view the previous comments by clicking on the “OLDER COMMENTS” link below these comments–right before the “Post a comment” header for the comment box.

rachelle August 22, 2009 Reply

hahaha!!! pasensya na, nagiba na kasi to kesa sa dating itsura. anyways thanks

deuts August 31, 2009 Reply

Oo nga eh. But I just hope you like the new design better.

rence September 14, 2009 Reply

hi, comment lng poh ako about sa book na nabili ko kamakailan lng, ung financial acctng. volume 1, 2009 edition.. ung pages poh kasi ay hndi nka bind ng mbuti, at pg nabuklat ay nahhiwalay ung iba.. tpos ung ibang pages ay mali .. gnagamit poh kasi namin ang book as our reference sa course nmin.. sna mbasa nyo ito.. salamat poh…

rachelle September 19, 2009 Reply

di naman si atty valix ang may ari nitong blog na to eh. baka nman sa recto mo nabili yun, kasi kung original yun malamang di yun masisirain, alam ko recto lang ang may trademark na kulang kulang ang pages at madaling masira.

arch September 21, 2009 Reply

pwede po bang malaman ang website nyo?

arch September 21, 2009 Reply

baka poh magtake kau kng bakit ko hiningi web nyo,, kc poh gusto ko pong malaman ang mga answers sa exercises sa ung book nyo poh na FinAcc 2006 Ed. para din poh macheck ko kng tama ung maga sagot ko. at saka po reference na rin….. tnx po

joanna_rose September 23, 2009 Reply

hello poh as in di ko take ang fin.acctg di ko maintindihan lahat..pwd poh b akong humingi ng konting advice..i really love to graduate with this corz kase eh..tnx

sha November 6, 2009 Reply

hello gud day. ask ko lang po panu pag ang treatment kung isang material example plywood na sobra sa isang project instead na bibili ng bago ay ililipat monalang sa isa pang project . considered as expense ba yon sa bagong project? samalat. god bless

rachelle November 15, 2009 Reply

baka treated sya as inventory sa next project since sa unang project, debit ng invetory credit ng expense, pero not sure kasi di ko alam ang bagay bagay sa mga contracts o per project

ro y November 17, 2009 Reply

hay muzta na kau maricel mag coment ka rin dito dami ng cPA dito

ro y November 17, 2009 Reply

mr. deuts
Laro tau ng chess minsan,,,, peo bakit ganito di na ako makapasok sa chesscube.. updated na ata to eh tagal ko kasing di nakpaglaro paturo nga oh thanks………

deuts November 17, 2009 Reply

FICS is much better than chesscube. You should try it!

felix May 22, 2010 Reply

pwede poh mkahinge ng manual ng cost accounting ni guerrero. tnx, asap email in my e add

roy May 23, 2010 Reply

hay… nakapagcomment na naman ako dito… sa wakas graduate na ako … bord xam nanaman ang panibagong haharapin
pray for me
please
salamat mga kaberks……

nuL-resa saLLeh June 15, 2010 Reply

financial accounting…

hope I could make it.=)

university here in paLawan.

aimee July 9, 2010 Reply

Hi! Baka po meron kayo manual solutions Cost accounting Book nina Guillermo at Norma De Leon 2009 edition need lng po for my self review. Thanks

rose coscos July 16, 2010 Reply

who are willing to teach me about financial accounting 1 online? please help me i have a hard time to understand the topics.. its my great pleasure to be helped by someone else.. may GOD bless us all

Anthony G. Arimas August 17, 2010 Reply

a nice day to you atty. Valix. I am from Central Mindanao University and our college is impressed with your superb ingenuity in accounting and so with your personality for the fact that you were dowered with so exceptional intelligence. since our college has been built up, we are unceasingly using your financial accounting book. i just want to request that you send the answers of every problem in our book, the 2009 edition, for us to know the answers and enhance our capacity to answer all the question. please.thank you.
you. this is my email address: deliciousman18@yahoo.com. i’ll wait for your positive response.

neleh ranilop August 28, 2010 Reply

pwede po makahingi ng marami pang examples sa mga problems ng financial accounting..kac easy lang ang mga discussions pero pagdating sa mga complicated na mga problems d na namin alam ang sagot..

deuts August 28, 2010 Reply

@neleh, it means na madali lang talaga ang accounting! 😀

fionamae September 21, 2011 Reply

mahirap po eh

roy September 16, 2010 Reply

roy here…

ms. rachell, maria luz and errovan kamuztah na kayo… mga cpa na ba kayo… ako rereview palang dis november….

may god bless us all

Telay Tan Enguillo September 25, 2010 Reply

lage po ba kayo online?

deuts September 26, 2010 Reply

Hi Telay, cno ba tinatanong mo? 😀

babylyn March 30, 2011 Reply

hello po. meron po ba kayong manual ng financial accounting part 1 2 3? please. pahinge naman po ;(

manny July 24, 2011 Reply

hello po accountancy student rin po ako! buti na lang ung prof nmin lging pinpaliwanag ung mga solution! kya mdaling kming natutoto!

dherick21 November 26, 2011 Reply

helo po ..isa rin po aqung bsaccountancy 2 student..ask quh lng po kung anong website pwdeng mkadownload ng practical accounting 1?..tnx po.

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