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 thoughts on “Financial Accounting I 2006 Edition”

  1. sir. i am student in uc, can u tell the tips on how to undrstand accounting easily? we are in financial volume 2 now and we are using the book of valix.

  2. Good afternoon! Do you have Financial Volume 2 2006 edition and Theory of Accounts,Practical accounting 1 problem solving latest edition and how much it cost?

  6. mahirap tlga accounting!! pero kung dream mo tlgang mging CPA…kailangan kayanin mo..”Ajah”..
    masarap naman ang feeling when you get the right answers…hay daig u p nanalo sa deal or no deal..if banker offer me a big amount 2 give up accounting..sorry banker but “no deal…’

  7. Naku!!sir..actually ok p grades me financial…pero cost…aray!!!
    buti n lng..lakas fighting spirits me…he he he..
    ganyan tlga may pangarap eh..
    …golf without bunkers and hazards would be tame and monotonous. so would life….

  8. to marco:
    hi…with regards to your problem..bka skali lng mk2long…dpat memorize mo ung form ng COGS…when there are missing values, u have 2 work back…(squeezing)..sometimes equations are useful, mggamit mo dian ung wlng ktpusang..x&y..s math…u shld also take note d’ percentages given…mgbasa u prac.2 n antonio dayag at prac.1 ni valix…i think makaka2long un..dat’s all & good luck s acctng.

  9. to marco:
    hi!bka skali lng mk2long.2ngkol s COGS, kailangan memorize u ung form…when der r missing values, sometimes u have 2 work bck.(squeezing), pwede rin u gmitin equation..s math ung x&y..suggest q lng book ni valix na prac.acctng1 at prac.acctng2 ni dayag..
    dat’s all and good luck s acctng..kaya mo yan.

  12. whaaaaaaaaa…i’m from iloilo..ang hirap ng accounting…pamatay ang financial accounting especially yung part sa bonds at anu-anu pang payable……..hindi ko naman magawang mag shift ng course…eh di tiis na lang.hehehe

  14. sir…i’m a BS accountancy student…can you ask atty. valix 2 pls provide us an answer copy of his accounting books. we badly need it for our study…with that, we will be able to contrast what we’d made and the right answer. thanx 4 having dis site sir…!

  15. hello bakit kahirap ng libro ni valix!! kakabuwang ha?? kamag anak ko p man din yan,hahah pero di ko pa xa nakikita e

  16. hi… kung sino man po ang my care magturo sakin… sa accounting 3rd year na ko… hehehe ala ako natututunan pero gusto ko pa din matuto kahit nawawalan na ko ng pag asa… email nyo aman po ako… kasi gusto ko pa sumipag…. hirap po kasi talaga… tnx

  17. hi, im an acoountancy student from iloilo, grabe ang hirap talaga ng accounting subjects ko..
    Mr. valix paturo naman ako! hirap talaga eh!

  18. hi atty valix, i’m armie and i just want to ask how you can easily solve the problem and what is the easiest way to solve and analyze the problem…can you send me some tips to solve and analyze it…please…[email protected]…or can you give me an wonderful advice…thank you bye…i will wait for your reply on my yahoomail…take care GOD BLESS!….ARMIE

  19. hi atty, can u send me the answers of financial accounting 1.. i really love accounting because it is really difficult…

  20. hi…meron na po bang 2007 or 2008 edition ng advanced acctg. volume 2 by peralta and guerrer?

  22. please help naman ng tachnique para mas madali matutunan ang lessons from your book
    ……
    not just for me but for the other studes din

  23. hi Atty Valex!I’m living in England and I’m n the university right now taking accounting course.di ko masolve ung cases ko sa repayments/amortazations kaya I need ur financial accounting Volume 1&2.hirap kasi nakalimutan ko na ung pinagaralan ko sa accounting sa luzon university.what s the latest edition, how much and where to get/buy them.I could ask my sister to buy for me and send it here.hirap kc intindihin mga aklat d2.i prefer ur books.

    thanks and waiting for ur reply.

  24. Atty, i want to review my ownself for the CPA board exam, would you recommend me a reviewer to use, i am working kasi kaya di ako maka attend sa mag review center.
    Thanx!!!!!!!!!!1

  26. Sir…pwd ba mkahingi ng Copy sa mga answers sa FInACC2 by Atty. Valix???
    I really wanted to get high grades on this, I want to understand it further . Maganda kc kng meH source pra mas maintndihan q at ma compare Ung mga sagot ko…. More Power! God bless!

  28. hi!, maybe you can help me in this area. I need the newest version of Financial Accounting 1 & 2 of Mr.C.Valix. Also can you recommend a good book/author about Cost Accounting or Managerial Accounting? I am currently upgrading my Accounting degree here in Manitoba, Canada under a joint program by the government and CGA – Manitoba called “Internationally Trained Accountancy Program”. CGA (Certified General Accountants). This program are for new immigrants who meet and passed certain qualifications. I was able to get hold of the Financial Accounting 1 & 2 books of Mr. Valix & Mr. Peralta, 2000 edition. The books are easier to understand. I mean, straight to the point. If you can tell me where my relatives in the philippines can buy it. They are from makati. Somebody will be comming here before the year ends. PLEASE..also, the answer books??.. I am going to take the national board exam on March, 2008. I would really appreciate the help that you can extend to me.thank you very much..grace

  29. Hi guys!medyo weird lang kasi yung graduate na ng accountancy but still di pa nila alam kung anong anong importance ng acctg or kung san makakakuha ng sagot. TIP lang po. pra mapadali yung pagaaral nyo. sa FINANCIAL ACCTG 1 gamitin nyo yung kay valix na Theory of accounts, then saka kayo mag fin.acctg 1. or para praktisado magbasa kayo ng PFRS or IFRS. tpos pra sa mga problems gmitin nyo yung PRACTICAL ACCTG 1 ni valix, tpos yung REVIEWER naman ni UBERITA.mas maganda ang reviewer ni UBERITA ksi mas mahirap at lhat halos ng different ways ng pagsolve andun. pra naman sa FINANCIAL ACCTG 2 ni valix, gamitin nyo yung REVIEWER ni DAYAG.reviwer sya ng RESA ata. tapos para naman sa cost acctg REVIEWER din ni dayag. at para sa management advisory services, maganda yung reviwer ni EDLAGAN.mura lang lahat ng book na yan sa RECTO.book ni valix 400 pesos sa national bookstore. pero 180 lang sa recto.lahat yan eh basic lang.pero pag review na mas maganda kung mas mahirap na books.pra sure na makakapasa. gudluck

  30. i like this site!! Valix ang main topic taz mga tips..hehe..nakakuha tuloy ako ng mga tips..Ahm, may nabasa po ako ang Mga libro ni Valix hindi available sa bookstore? ay samin available kaso mejo late nga lang ung 2007 edition.. kaya sa maynila pa kami nag order. .I’m still a second year student..and we are using the book of Valix..Actually, tinatackle palang namin ang FINac I kahit 2nd sem na kasi super tutok, kasi daw one of the most difficult ang finac…and yes, ang theories nun e andun lahat sa theory of accounts, and ang short probs e andun sa Practical ACCtg. I, Valix din..o kung gusto mo din mahirapan and to see more difficult solutions get also the Pract I of UBERITA..tapos if you want more challenge acquire the book of MA. Elenita B. Cabrera,,,baka dumugo ung ilong mo sa sobrang hirap ng mga probs nia..hehe…

  31. CPAs are not born, they are made.. To become a CPA you need discipline, perseverance, diligence and sacrifice..

  32. “Be dead serious.. Resolve to become a CPA! If you are not serious, stop it! To become a CPA you owe it to yourselves. You must be honest with yourself. Am i dead serious?ask yourself. The formula is to be determined to become a CPA. Teachers see themselves in you but they do not matter. The core of the matter is you. Develop self-discipline. Be a CPA with or without a teacher. Avoid a quack mind. Don’t copy the work of others. Learning must be your own effort. I know that your parents are working hard for you. Think about them. They save every peso just for you to become a CPA. Wage yourself against your present situation. Society is against poor condition. Communicate with God. Your parents are proud to send you to school of Accountancy. Reciprocate them by becoming a Certified Public Accountant.”

  36. ei, i just read your comments… i am inspired to the wisdom of nathaniel, and yeah, very well said… i feel so driven everytime i hear or read words of wisdom especially concerning things i can relate with.. i think, that’s what i need… and so with other students in here posting comments.. to all of us, accountancy students, good luck! may we all accomplish our individual goals… konting tyaga tyaga lang, worth it naman yang pagbagsak bagsak sa accounting eh, ang importante is you are learning from those failures… well, hanggang dito na lang, i feel for those who are studying miles from manila, kasi they cannot buy books abundant in recto… i hope you can find at least a way to buy books from recto, kasi ung financial accounting 1 and 2 and other books, always available yun.. i think it’s better if you buy ng maramihan… cge, if i can help, just post it here.. – sibat*01 ^_^

  37. Happy New Year Sir!!! ummh do you know the answers in the Problems of Chapter 1 to chaptr 4 FINAC Part 2 (2007 or 2008 edition) of Atty. Valix Book??? i really need the answers for confirmation if my answers were right.. besides my Prof usualy get our exams in the book of Valix..problems after each chapter..if you don’t know sir,, do you have contact with him?? i hope you will response.. Thanks a lot..Godbless

  38. by the way ..anyone who knows the answers in the Problems found in the Fianncial Accounting Part 2 of Atty. Valix pls. send me the keys or just text me in my Number 09289526613.. even Chapter 1 to 4 only may do.. please i really need the answers …it’s really hard for me to answer them because our prof was not good in teaching.. he does not explain each chapter very well… when we enter his class,, he just give the xerox and quizers then that’s it..he even not teach us how to solve the problems..we’re now in Chapter 2,, almost done and i can say that nothing came in my mind.. ive never learned..this is my first time that i didn’t enjoy accounting..

  39. elow mS. rACHELLE maRAVILLA..i got your message…hmmm thanks po pala sa pagshishare about kung san ko makikita yung mga answer keys.. Promise i will share your message to my classmates.. Yung bang Practical Acctg 1- dun makikita yung mga sagot sa Finac 1 ni Valix??? eh how bout ung mga sagot sa Finac 2 ni Valix san ko makikita??? sa Practical 1 din ba??? ehehe.. anyweix thanks again..and Godbless.. can i have ur email pala..tnx

  40. How I wish I only knew how to contact Atty. Valix, so I can forward all your concerns to him, and respond to all your questions.

  41. ei, u can see all the answers of financial accounting volume 1 and 2 in Practical accounting 1 of atty valix. it really helps studying practical accounting 1 not just of valix’s but also of uberita’s… by the way, i am still using those books because i am currently studying financial accounting part 2. i hope you guys have those books as early as now. auditing problems also will do if you have time and you are very dedicated to really learn.. i can post or send to you the answers if not for the hectic days to come… goodluck then! ^_^

  42. ei, sir deuts, you can contact him in his review school, CPAR. one of his co-workers is currently my professor in law on oblicon..huhu, we are kind of stuck in low grades with him (our prof) because he is treating us as if we are law students…well, i believe that that is for the betterment of our learning. but please give me some tips on how to pass this subject… i don’t want to take this subject for the second time next academic year.. i don’t want to take his removal exam either.. pls, i need some wisdom and thoughts about this matter… hehe. thanks sir! ^_^

  43. Hi, im ken form SGV and Co.

    do you know where i can get a soft copy of Valix’s PA1 and PA2?

    Thanks a bunch

  44. Sorry I don’t have any idea. But for sure, if there will be one, it would be tantamount to unauthorized replication.

  45. yeah, our school has it in its library’s internet thing. only PA1 dude and i believe it (PA1) can only be accessed inside the school and i haven’t tried it yet. hehe. By the way, Valix has no PA2, only PA1. or maybe you were asking about FA1 and FA2? ^_^

  46. eh..ano-anong skul gumagamit ng kanyang libro?libro rin kc nya gngamit namin.yung volume 2 2008 edition iniba na.hindi n xa gaanong makapal.parang gnawa atang 3 volumes yung FA

  47. in our school kasi, mejo may discrepancy regarding the books. parang read what you want/can so long as makakakonek ka sa mga topics. in our case, pagdating sa accounting, our prof requires us to study (when i mean study, i mean really read, understand and solve) as much books as we can. most of the students in ncr, especially those accounting schools na nasa University Belt, more often than not, may mga valix books yan. yep, the financial accounting of valix is now divided into 3 volumes. dunno what happened, but i believe, it’s because of the demand. maraming bumibili eh, kaya ganun, more profit. if you get what i mean. hehe. un! i believe, pare parehas lang ang laman ng financial accounting books niya starting 2006. kasi ang alam ko 2005 pa nagkaroon ng amendments sa standards. hehe.. sige, gudluck ulit! keep posting. hehe. ^_^

  48. Thanks for making a review about the accounting book written by Valix. I’m looking for other accounting books written by Valix(the basic accounting books to be speific) because it’s my first year in San Beda College, Manila and I have difficulties of attending accounting classes due to schedule problems. I know that I can improve my grades if I’ll be able to get a copy of practical accounting 1 and 2. Can you tell me where to get a copy in Manila so that I will be able to make it in the qualifying exam( the qualifying exam, our professors said, was like a board exam that contains practical accounting 1 and 2). Thanks a lot. Your site is very useful.

  50. Thanks Paolo. I would be glad to provide a venue to discuss these things and somehow help the CPA aspirants and also the students.

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