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. i am a student of the university of san carlos also..i really like the approach that valix used in this is very understandable..and it is really student friendly….

  2. hi. anyone know san ko makikita answer key ng advance accounting 2 by guerrero and peralta. there are some problems kasi na hindi ako sure kung tama ba pinag gagawa ko. sa practical accounting 2 ba makikita yun? thnkx in advance!@!

  3. i am from saint louis university.. we are currently using the financial acctg vol. 2 2008 ed. by valix n peralta… actually r descriptive title 4 dis is ACCTG 203 w/c is the last subject for financial acctg. ask ko lang po other reviewer books ng financial acctg?

  4. i am one of million dreamer to be an accountant someday and i’m so lucky that i passed my qualification exam in BSA…but sad to say that i felt concsious of my chosen career… it is not only what i expect…do hope that aside my self somebody can help me…thanks a lot, take care all of you.

  5. according to my prof. accounting is very easy… do you agree????? oh my.. i do hope that one day i can say that too..

  6. sir: kindly tell me wer can i find MAS reviewer by EDLAGAN or CABRERA kc po nagtanong aq sa kakilala q s recto n nagti2nda wla daw any other places to buy? tnx po. saya ng site na to marami aq nkuha na info bwt buks n pwede gamitin.

  7. those who like referrences in advanced acctg 2: G. DE LEON, N. DE LEON, MEJORADA, VIOLETA VICENTE, ANTONIO DAYAG… try to find their books in recto goodluckk…

  8. does anybody here knows where to find solutions to chapter test of finac2008 ed 1. The prblems are really hard to answer since the book does not have much illustrations and examples. Please, where can i find them? i would really really appreciate it if anybody here can help me.. thanks!

  9. hello guys, 1st post ko here..haha

    as far as i’m concerned, conanan publishing (publishing house of valix’s books) doesn’t issue answer keys to people other than professors. (haha i called them once, napahiya lang tuloy ako)
    however, there are mirror problems of Valix’s FinAcc in his can use it as a guide..

    by the way, i’m ben, 3rd year, accountancy student=]
    goodluck satin..=D

    kudos to Mr. Deuts=]

  10. We are currently using Norma and Guillermo De Leon’s cost accounting book 2007 edition. There are so many typographical errors that have not been corrected in the previous editions. bakit ganun? kaya sa multiple choice, we choose the letter “e” as our answer kasi wala sa pamimilian and sa mga problems dun, may mga maling figures. 🙂

  11. may guerrero ka na lang sa practical accounting 2. meron ding typographical errors pero mas ok siguro kesa sa book na meron ka.

  12. i’m from angeles city, studyiing at holy angel university..


    cud sumbody help me solve the problems in FINAC????????????????????????????????

  13. do you have any solutions to the audit practice set of cabrera? the Grace Corporation 2004… i badly need it.. or if you know to where i could find it. tnx for your immediate response on this matter.

  14. Sir valix, i am so proud of you, Who we are ryt now.. CPAs, ……is considered as a fruit of your dedication in the world of our profession.. Time-honored as being a great mentor, a lawyer.. a friend… a good guy with humble heart.. your camaraderie….is something to be distinguised… more blessings to come… I do wish that what you have achieved in life will be conceived by me too, as i go along in a journey in the world of finance…
    A song says”God bless CPAR and all reviewees, reviewers, employees, united as one.. God bless CPAR”

  15. Hello!.. It’s my first time here in your blog and I just want to ask if what is the best review book for cost accounting?.. i want to study more cost accounting problems for my final exam!

  16. Hi Rachel in as much as I would like to help you, my memory since my school days about that are a blur. We’ll just hope that someone else from this thread can help you. But I guess, any foreign authored book will do ok with cost accounting. I can’t think of any local author that discusses cost accounting in much detail.

  17. kung hanap nio fin 1,2,3 accounting 2008 edition.meron ako solution manual nyan.hehehe.hiningi kasi namin yun pagkatapos ng semester

  18. tapos ka na ba ng fin acctg?and its not free hehe.i can only provide you with some chapters.mga 5 chapters cguro pde nah.hehe.lugi naman ksi aq.pinaghirapan ko yun eh

  19. allan:tpos ka na ba sa fin acctg?its not for free eh.hehehe.though i can provide you with some chapters.mga 5 chapters cguro pwede na.lugi kc aq nun.hirap kya ng pinagdaanan ko.yung email mo nlng ibigay mo.

  20. hello mr. valix, i’m from Mondriaan Aura College in Olongapo City. I loved accounting the way it is, kea lang parang nde ako love ng accounting. Is there any reference of fin1, fin2, and cost acctg na pedeng magamit. I already finished the fin1, its just that i want to know more about fin1.

    And for the fin2 and cost acctg, can i buy this online? for my advance review this semester.

    More power Sir. God bless!

  21. mr. valix can u please give me pointers i really want to pass in the board exam so please help me to do dat any suggestion will do thnx mr. valix i hop u appreciate my letter and i’m hoping to ur response mr. valix

  22. mga frens email u nga ako pd bang pahiramin u ako ng reviewer nyo sa accounting para mabasa ko agad tnx sa inyo e- =mail me please grav tong acoounting paduduguhin ang ilong ko but i want diz curz… and i want to pass in the board exam someday so please mga frens out der pls… and i need ur suggestion and advice thahk you im hoping na maaprciat8 nyo aako salamat ulit……. from university of pangasinan

  23. hi there..

    guys..gn2 yan share q lang.
    b4 i was a part of BSBA-mngt. 1st-2nd yr. then my prof. approach me na mag-accounting aq.. cz dring dat tym were taking up subjects na same sa acct. ..from then nakita nya potential ko sa acct..

    nung nagshift aq una kabado..pressure then so fortunate q makakuha ng 96% sa financial acct..

    tiyaga lang pala un?.. un bang kaa mu magpuyat at mag purchase ng sandamakmak na libro ni valix..third yr. na ko ngaun and i’m thankful dhil d ko akalain ung dating course na kinaaayawan ko at di ko naman inaasahang mag-totop aq eh nagawa ko mg-excell..

    tnx valix at ngaun nakakasunod na ko..

  24. hi. in my opinion di nyo naman po kelangang bumili or humingi ng answer key sa financial accounting. sabi nung iba dun kinukuha ng prof nyo yung mga exams. kapag ginawa nyo yun para na rin kayong nagcheat at ang malala pa di kayo matututo kasi di na kayo sisipaging magaral kung may instant sagot na kayo. kung gagamitin nyo naman yung para mapractice nyo yung problems. may nabibiling mga reviewer na intended para sa pagpractice. yung PRACTICAL ACCOUNTING 1 na si valix din ang author.or yung practical accounting din ni UBERITA. yung mga taga manila madalas alam na nila to. pero yung mga taga probinsya malamang di nila alam kasi galing din ako sa probinsya and talagang nung una nahihirapan ako sa accounting sa book din ni valix kumukuha ng exams or quiz yung prof ko. pero nung magtransfer ako dito sa manila dun ko narealize marami pa lang way para maging madali basta may book ka bukod syempre kung masipag ka at matyagang magaral. payo ko lang dun sa mga taga probinsya mas maganda kung maginvest na kayo ng books para habang nasa lower accounting pa kayo mas namamaster nyo na. para pag nasa higher accounting na kayo di na kayo mahihirapan. kasi talagang babalik at babalik ulit kayo as umpisa lalo na pag nagrereview na. try nyong magcontribute sa pamasahe para may isang bibili or may luluwas. kasi nung time namin ganun ginawa namin. payo lang po. thanks

  25. i agree of what u have said ram_1085.. if yu were trying to cheat .. for what pa?… edi kung ganun, mawawalan ka na ng will para mag-aral ng mabuti sa acct. ..tatamarin ka na..
    tyaga lang tlga yan.. 2lad ko na shinift lang ng prof. not knowing i had the potential pala na maging CPA whichever i dont really expect. Ung keys were just ok if u were reviewing na 4 da board. E fot the meanwhile, focus lang ung iniimpose in order to surpass that threadmill, rollercoaster of number sequence..

    till now am not using cheats kc sabi ng mga m8s q., d ka matututo which is a big deal..for what pa para mag-CPA db?>
    tamang isip , logical and critical thinking lang yan..

    masakit sbhin pro if u dont have the guts to be a CPA, better choose for your right destination whichever you prefer urself na magiging successful ka,,..

    payu lang din..
    at last DEANS LISTER pa din ako..
    no. 2 hehe

  26. comment lang po about the font nitong blog. ok lang po ba kung color light yellow or white na lang ung font. para po madaling mabasa. kasi po mahirap po syang mabasa lalo na sa malabo yung mata. no offense. thanks

  27. helo mga frens salamt sa mga payo nyo i apprecit8 it….. kaso maraming reviewer kasi like ung reviewer kay guerero at peralta there are to much error der dun sa practical accounting 2 sa advance at pati rin sa textbuk mahirap po xang intindhin so how can we learnd mur even if we are aspirng and ddcated to lern mur kung ung mga librong un eh mhirap intindhin at dami pang eror… i think dapat na po xang erevise ni mr. valix para naman maintndihan naming mabuti ung dapat na intidhin……
    xaka mr. valix request lang poh pd ho bang pakibabaan ung libro sa accounting kasi maxado hong mahal we cant afford 8…..
    ram and erovan tnx sa mga payo nyo ako rin dean’s lister din ako kazo nahi2rapn pa rin ako sa mga higher acntng. taz grav naman ung mga libro sa reviwer they r to much xpnsv i cant afford some buk cuz im only ordinary ala pang pera mahirap lang po ako… d naman kazi pdng ipa photo copy mga un eh kasi ung mga ibang scol m8 ko e d magshare peo okie lang un pinghirapan din nlang binil eh…
    salamat payuhan nyo ulit ako

  28. to roy:

    kung di ako nagkakamali parang di ata pwede irevise ng isang author ang gawa ng ibang author unless my kakaibang agreement sila. kasi parang kabastusan yun at napakaunethical.di ako aware sa law pero tingin ko ganun yun. pwede pa siguro gumawa din sya ng book na prac 2 din ang topic.saka if im not mistaken kanya kanyang linya kasi yan eh. like si atty.valix master na nya at ang toa at prac 1 at yung si guerrero at dayag master na nila ang prac 2 kaya sila ang reviewer nun at author ng book. kumbaga kng gagawa ng book si valix baka di rin ganun kaeffective like nung linya nya which is yung toa at prac 1 nga.

    tapos yung book naman ang alam ko mura na yung second hand or pirated na mabibili sa recto. un na talaga ang pinakamura eh. kelangan talaga may book. kung ipapaxerox mo naman yung book ng classmate mo aabutin ka ng mga 200 pesos eh ang brand new na pirated eh 150-250 depende kung magaling kang mambarat.

    tapos yung author ng blog na to eh hindi si atty.valix. kung mababasa nyo yung lahat ng comments na to isa syang cpa board passer na mahilig sa chess at auditor in public practice ata. (not sure kung nagbago na).

    ang days naman sa board exam 4days yun. normally pag october batch second and third week (sat. & sunday). pag may not sure eh madalas kasi 2 weeks sya saturday and sunday.

    yung problem mo naman sa book ni guerrero na maraming error ganito gawin mo. wag ka masyadong magrely sa given na numbers. kumbaga intindihin mo yung logic nung topic wag yung numbers mismo. since accontancy naman tayo dapat malakas pick up natin sa mga ganyang bagay. tapos pag naintindihan mo na. saka ka magpractice ng problems sa reviewer ni dayag. ayun matututo ka na wala kasi ganong error dun. kung meron man acceptable naman.tsaka maraming question dun kaya pag natapos mo ok ka na..

  29. thanks rachelle for that informative comment. yes, i’m the author of this blog and I’m not Atty. Valix. I’m actually planning to post here later some tips especially on how to pass the board exam according to my experience. So watch out for that.

  30. to mz. rachelle

    thnx sa advice po.. tanung ko lang kung anu ung buk ni dayag,anu ung title ni buk ni dayag kasi im not aware kasi ang mga kilala kung author cla valix,guerero,peralta,cabrera,roque at c uberita lang.

    mz rachelle may nakapagsav xakin karamihan daw na ibnibgay sa bord e basics tama ba? any information na pd mung masv sa akin tungkol sa bord ms. rachelle


  31. i want to us sa mga bord passers pag sa mga reviewer sa practical accounting 1 ni mr valix, practical accounting 2 ni guerero at peralta, auditing teory ni cabrera, at auditing problems ni cabrera, eh pag dun ako ngreview pag nagkataon may pag asa ba akong pumasa sa bord marami bang kinukuha dun na kapareho sa bord exams ilang percentage ang kinkuha nila dun?o kayay kapareho ng atake ng questions?..

    salamat sa lahat.

  32. b naman bobo yung prof na ibigay yund solutions manual kung di pa tapos ang subj.binibigay lng yun pg tapos na ang student sa subject.kung baga png review nlng.which means it is not a form of cheating…at tsaka hndi nahuhuli ang mfa tga province sa mga strategy.tingnan mo kaya result ng board.kramihan gling school sa province

  33. ang book ni Antonio Dayag ay Practical Accounting 2. (reviewer sya sa RESA) ang cover ng book na yun ay advance accounting 1 and 2, job order costing, cost accounting may standard costing din ata. not sure.

    about naman sa mga question na binibigay sa board. actually nagrereview pa lang ako eh di ko pa natry magboard pero ang dinig ko. di naman basic. may mahirap at may madali din. kumbaga tama lang para matapos mo sa loob ng 3 hours. sbi nila nirerecycle lang daw ang mga questions lalo na sa law. kasi kwento lang to ng isang reviewer. ang member ng BOA na nagbibigay ng exams sa law ay hindi naman lawyer so mahirap kasi gumawa ng question sa isang field lalo na pag law na di mo naman master kasi baka nga naman maging bonus lahat yun. yun eh sabi lang samin.

    dun naman sa mga sinabi mong book. di pa yun sapat. kasi di naman ibig sabihin na memorize mo na lahat ng procedure ng isang book ibig sabihin papasa ka na exam kasi minsan baka di rin kumuha dun yung examiner. kasi ung auditing theory na lang na book 5 na ang alam kong author. ibat iba lang sila ng approach. kaya parang 1 out 5 lang ang alam mo. dapat kasi yung logic or concept ang dapat aralin mo. kasi pareparehas lang naman laman nun magkaiba lang ng pagkadeliver,.tsaka minsan kumukuha din sila sa IAS. AICPA basta parang panginternational chuvaneses yun. di naman puro local.. basta kumbaga may testbank sila tapos kukuha sila ng mga question pwede ring gumawa ng bago o kumuha sa international.

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