January 2007

New Iloilo International Airport

The Iloilo international airport will be open to commercial flights in April and is expected to boost the tourism industry and economy in Western Visayas.

    The P8.759-billion project is 97-percent complete and the first commercial flight will land there on April 18, according to Senator Franklin Drilon, who inspected the site with Transportation Secretary Leandro Mendoza on Friday.

Read News: Inquirer.net, NewsToday

Does this mean I can now take a direct flight to and from Qatar and Iloilo?

Equipped with modern equipment, the NIADP which will be operational 24 hours a day could accommodate bigger aircrafts like Airbus 330 and Airbus 340 and even Boeing 747.

Let’s see.

Construction of the Iloilo international airport started in 2004 and will be completed on March 18. The airport is being built on a 188-hectare area straddling Sta. Barbara and Cabatuan towns, 24 kilometers west of here.

I’m not sure yet how far will the terminal be from the city, and from Tigbauan. I haven’t seen the area yet.

MyBlogLog Another Social Network

Mybloglog, just like friendster and myspace, is a social network or community website basically for bloggers and readers alike. What better way to describe it than by its about page.

MyBlogLog is launching this new Communities service to empower authors and readers to operate at the same level. For the first time, everyone who reads a web site or blog can learn about and engage with one another, and in the process take the conversation to a whole new level.

Readers can become friends with other people who read your favorite blogs. See what else they’re reading. Check out their MySpace and Friendster profiles and view their Flickr photostreams. Authors can learn more about their readers individually and as a group. What do they like and what are they ignoring? What are they reading elsewhere on the Web?

Sounds interesting? Well, actually, Mybloglog has been a talk in the blogosphere in the past month or so (although it has been in existence for almost 2 years now) including news of it being acquired by Yahoo! Yet, I just actually signed up for it 2 weeks ago. And so far I had a great use for it.

    For one thing, it provides me information on who visits my site. You might have already seen on the lower-right sidebar the pictures of my visitors. You need to have a MyBloglog account though in order for your picture to appear there.

Another thing, the statistics analytics tool within Mybloglog comes very handy. It provided interesting info about my visitors, like where did they come from (how did they come here), which pages did they view, and what outside links from my site did they click.

So, what did I find interesting from all these stats?

What Might Have Been

guest-post-iconThis is a guest post from Marky.

What might have been, it’s most probably the hardest question you’ll ever ask yourself. To live in utter regret and confusion, as memories of lost opportunities seep through your inner spirit. As you see your dreams go down the drain even before you plunge in and give it a go. A question perhaps you’ll never know the answer, not even when the opportunity, no matter how rarely it may seem, comes knocking at your door the second time around.

As time passes by, circumstances change. Nothing is the same. No matter how hard you convince yourself that you are better off with the way you are now. There will always be a point in your journey where you stop and ask this improbable question. And would you call it malcontent, irreverence towards where God led you, or is it just part of our human nature to question our frailty in standing up to our decisions? I don’t know.

Sometimes I feel that maybe it is God’s way of showing us that we are free beings, beings who make decisions out of the desires of his heart, out of the fleeting emotions one feels at a certain point in time? Yes, free beings, and no matter how free we are, we are however not free from the consequences of our decisions. We could either, live in shame, sulk in regret or move on hoping that the next decision we make won’t create the same amount of disarray in our system.

In my 23 something years of existence, I have asked this question a tad too much. Is it my lack of confidence in my own capacities? Is it my overtly eager spirit? Truth is, I don’t have answers. What I do know is that when I made my decisions, Christ was with me, and as I go along, either regretting my decision or rejoicing in utmost glee, he would still be with me. I may not have sought Christ’s counsel in some of the decisions I’ve made, but I know that he was with me and continues to be with me, for he said in his word, “I will never leave you nor forsake you”, and that ought to be enough comfort to any disgruntled mind asking the question of “what might have been?”.

Latest in deuts.net

There are the recent news that I want to share:

  1. It is yet 25th of the month, and deuts.net has already breached the 1 gigabyte monthly bandwidth usage for the month of January 2007.

    This is actually according to my control panel. Statistics shows that this month is the highest bandwidth usage since May last year, considering that I’ve not even made any major back door editing of the site (and other subdomains and parked domain under it), and thus burn some bandwidth.

  2. Deuts.net achieved a PR of 4 in Google’s Pagerank during this month.
  3. Recently, I received an email from Link Text Ads (LTA) notifying me that they have already approved of my application.

    Needless to say this, but during the inauguration of this site, simultaneous to my application with google adsense, I also applied with TLA. That time the latter denied my application citing that there was not enough traffic in my site. So, I sticked to adsense.

    I haven’t made any follow-up with TLA since then regarding my application. But, lately, they emailed saying I can now be one of the publishers. It must be because of the PR of 4, huh?

    I haven’t figured out yet, though, how to publish their ads here in my wordpress site, and where exactly to show it. It can wait, anyway.

  4. I completed my first 50 posts in igb.net forums. Thus, I availed of their free hosting.

    igb.net is a webhost that offers free hosting to their members. It only requires a member to post at least 50 responses in their forum to avail of the free hosting. If you also wish to avail of their free hosting, you can visit their site here.

    Now, since I have a spare domain, which is jotuvillo.com, I used it for my igb.net host. What I plan with that site is maintain a more personal blog, and also post pictures of my everyday life. I’m also planning to create a photo gallery in that host. Just watch out for it.

  5. Just this week, the latest version of wordpress was released. It’s version 2.1.

    I still have to prepare deuts.net to upgrade to wordpress 2.1, though. Updating all the plugins, backing up the database and the files, and preparing the theme requires a lot of work (I guess) and of course, time. It can wait, anyway (again!).

So, to my regular visitors, enjoy browsing deuts.net! 🙂

Don’t Lose Your Balance

guest-post-iconThis is a guest post from Cliff.

Have you ever been caught in a situation staring at your reflection in front of a pail of water, remembering all your life’s flashbacks starting from the day you’ve learned to remember something..? Ever experienced gesturing a Mona Lisa’s smile by yourself and end up laughing like you’re with Mr. Bean to those situations of your life, questioning why they’d only happened to you and not to others? These are but just few questions you might be thinking when you’re in a situation you didn’t expect to be happening in the first place. It’s what they call nostalgic, wistful, longing, homesickness or what ever they might call it.

It is a funny feeling that this regretful case in point paved the way to evaluate levels of experience reflecting the most desirable events that could happen in your life then comparing them with what you’ve already experienced. Too many disparities isn’t it. At a certain point, you might wish of having an extrasensory perception that could possibly help predict the remaining future so you would be able to anticipate your actions on them. Others say that one possibility of accessing the future is through dreaming. Dreams don’t just happen without any cause and they are just but ‘theoretical’ experiences that happen in our illusionary world, a database of our past and future ‘us’. You can’t just have them if you want them at an instant. And it is consistent with the reality that one is bound to prove that you’re worthy having something. A glimpse of the future you is alterable by your acts of free will and acceptance. Have you ever thought that your perception of the future ‘you’ can cause your past? How confusing this might be, right?

justiceThink of a weighing scale, the one that is commonly used for measuring golds and diamonds, or just think of the weighing scale in the Justice Dept’s logo. On the left is maybe your past while the future is on the other side. Both sides are affected by the weight laid on each side. The lever in between represents your acts of free will. Without it, there would be no weighing scale, and there would be no past or future you in a brighter sense. You might be puzzled already on what you’ve become, on who and what you are now and what might be next in line. The real you is something worth discovering, a proof that life is not just about what others see or perceive about you, it’s how you comprehend yourself. Stay calm and take full control…

Author: Cliff

Tigbauan and the Feast of Sto. Niño

Yeah I know, I almost forgot it until Franz in his comment reminded me today.

Anyway, on Sunday, the 21st of January 2007, Tigbaun, Iloilo will be celebrating the feast of Sr. Sto. Niño. You are invited to come to our house, which is at Tupan St., Barangay 3. Lunch will be served at around 12 noon. Just look for me there! Bwehehehe.

Or if you want, you can come to Franz’ house at Leonardia St. Barangay 9, Tigbauan Iloilo! (LOL!)

Pictures of Tigbauan:

Searching Conrado Valix

Yeah, sounds like a movie (Searching Bobby Fischer). I should have changed the title to “Googling Conrado Valix”. Nah, nevermind.

bookI was wondering of late why there were just too many people who maybe were lost in the cyberspace and found their way to my entry regarding the Financial Accounting I, 2006 Edition by Atty. Conrado Valix and Jose Peralta. These visitors are mostly students from schools in different parts of the country (Philippines), who are (maybe) fanatics of Atty. Valix (okay, I am a fan myself). My blog was even mistaken for a fan site or something like that.

Then, I tried googling for the keyword “Conrado Valix” and guess what I discovererd:

  • Google – No. 1 in the search result page.
  • Yahoo! – No. 1 in the search result page.
  • MSN – No. 3 in the search result page.

Refining the search query yielded in a more interesting result. For a keyword “Financial Accounting by Conrado Valix”, my site ranked simply number one in all the big three search engine sites! (Note that these results change over time)

So that explains it, huh!

That should surely explain The J Spot’s entry on “Why Celebrities Should Blog“. He also cited another reason here.

Conrado Valix, being a public figure especially to accountants from college students to professionals, should start blogging. By this manner, it will pave the way at which students and professionals alike can contact him. It can be a ground where he can solicit feedbacks from readers of is “renowned” books on accounting.

Nonetheless, it’s even more ironic to note that CPAR (CPA Review School of the Philippines), being an established institution in the world of Filipino Accountants where Atty. Valix is one of the founders and the current director, doesn’t have a website (I think I’ve already said before). It’s one of the review centers that has produced and is still producing the best accountants in the country (or maybe even in the whole world), and yet it doesn’t yet have a space in the world wide web. (Or maybe it has, but it was not just optimized for search engines, I don’t know. If that’s the case, time to hire an SEO professional.) Imagine just how many students are maybe searching for its site everyday. Thus, maybe lost reviewees (and revenue).

Access to internet nowadays are becoming more widespread and cheaper. One should really reevaluate its marketing strategy.

(What do you think Domeng? –if you read this post)

The Difference Between IFRS and IAS

This is the question that oftentimes pops up from a middle of nowhere…

What basically are the differences between the International Financial Accounting Standards (IFRS) and International Accounting Standards (IAS)? Or, should we rephrase the question, are there any differences at all?

Well, there are differences, of course. And the major difference is that the IAS’s were issued by the International Accounting Standards Committee (IASC) from 1973 to 2001, while the IFRS’s were issued by the International Accounting Standards Board (IASB) from 2001 onwards. The IASB is basically the successor for IASC.

When IASB was installed in 2001, it adopted the existing IAS and decided to name any future standards as International Financial Reporting Standards. Consequently, IAS 1 Presentation of Financial Statements defines IFRS as standards and interpretations adopted by the IASB.

Now, IFRS in a broad sense comprise:

  • Framework for the Preparation and Presentation of Financial Statements – stating basic principles and grounds of IFRS
  • International Financial Reporting Standards (standards issued after 2001)
  • International Accounting Standards (standards issued before 2001)
  • Interpretations originated by the International Financial Reporting Interpretations Committee (IFRIC) or the former Standing Interpretations Committee (SIC)

In My Humble Opinion (IMHO)

I have to be explicit that these are just my opinions. If you trust it, then thank you. If not, then make your own research! (LOL!)

So the new IFRSs standards are in addition to (on top of) the IASs, won’t there be any contradicting standards/principles between the two as a result of the adoption of IFRS?

Just as the former IASC altered some of its provisions and withdres some IAS numbers from its set of standards over the years, any contradicting principles from the new IFRS will supersede that of IAS. One basic example is the IFRS 3 and IAS 22, which are both titled, “Business Combinations”.

Of course, there are standards in the IFRS that provide rule over some grey areas or a “no mention” in the IAS, just like the identification, measurement, presentation and disclosure of non-current assets held for sale (IFRS 5).

In fact, when contradicting standards are issued, the older one is removed from the complete set of standards. Look at the latest complete list of standards and IAS 22 is not there anymore.

I have been full compliant with IAS in the previous years, do I still have to apply IFRS 1 (First Time Adoption of IFRS), and thus present comparative information and other disclosures required by IFRS 1 in my next financial statements?

Under the Scope of the standard, paragraph 3, if you have not stated compliance with IFRS in an “explicit” and “unreserved” statement in any of your previous financial statements, then you have to comply with and follow the disclosure requirements of IFRS 1. If you have been full compliant with IAS, then preparing the disclosure requirements of IFRS 1 would not be that cumbersome.


Try googling for the difference between IFRS and IAS, and it will lead you nowhere. I mean, basically there are no resources in the internet that can give you a precise distinction between the two. Such question just seems like improper. It’s like comparing a chicken against an egg, when in fact the former just simply evolved from the latter. You can’t plainly make a head-to-head comparison.

Remember, comparing IFRS vs. IAS is not like comparing IFRS vs. US GAAP. The latter is completely a different story.

Remembering the Walk

Sometimes, when I just have nothing to do, I just keep this film replaying on my laptop…

walk to remember

Love is always patient and kind,
It is never jealous,
Love is never boastful nor conceited,
It is never rude or selfish,
It does not take offence,
And it’s not resentful.

Love takes no pleasure in other people’s sins
But delights in the truth
It is always ready to excuse,
To trust, to hope, and to endure
whatever comes.

The Superhero Inside

In my friendster account, I indicated there that one of my favorite books is “The Encyclopedia of Superheroes”. Well, I just can’t actually think of anything and also would like to sound less corny, you know.

Anyway, found this site that evaluates which Superhero you should be based on your personality. You just have to answer some questions that better describe your characters. And here are my results:


Huh, I am more of a “Robin” than “Superman”? How can that happen? It means I don’t have superpowers. Instead, I have skills.

And I won’t mind stepping aside to give someone else glory? Is that the personality of Robin? Well, maybe stepping aside to give Batman the glory…

Anyway, what about you, which Superhero are you?

Click here to take the Superhero Personality Quiz

Forty Richest Pinoys

Forbes magazine, in its latest Asian edition, released a list of top 40 Richest Filipinos.

Of course, it’s not surprising at all to note that at the top of the list are the Filipino-Chinese businessmen. The richest Pinoys with the corresponding net worth are as follows:

1. Henry Sy – $4.0 billion
2. Lucio Tan – $2.3 billion
3. Jaime Zobel de Ayala – $2.0 billion
4. Eduardo Cojuangco – $840 million
5. George Ty – $830 million
6. John Gokongwei – $700 million
7. Tony Tan Caktiong – $575 million
8. Andrew Tan – $480 million
9. Emilio Yap – $350 million
10. Oscar Lopez – $315 million
11. Enrique Razon Jr. – $285 million
12. Andrew Gotianun – $280 million
13. Enrique Aboitiz – $275 million
14. Alfonso Yuchengco – $225 million
15. Menardo Jimenez – $210 million
15. Gilberto Duavit Jr. – $210 million
17. Ramon del Rosario – $205 million
18. Felipe Gozon – $180 million
19. Beatrice Campos – $160 million
20. Luis J. L. Virata – $150 million
21. David M. Consunji – $145 million
22. Bienvenido Tantoco Sr. $140 million
23. Betty Ang – $115 million
24. Manuel Villar – $110 million
25. Mariano Tan – $100 million
26. Rolando and Rosalinda Hortaleza – $90 million
27. Oscar Hilado – $85 million
28. Vivian Que Azcona – $80 million
29. Manuel Zamora – $75 million
30. Magdaleno Albarracin – $73 million
31. Jesus Tambunting – $70 million
32. Frederick Dy – $65 million
33. Tomas Alcantara – $60 million
34. Lourdes Montinola – $50 million
35. Salvador Zamorra – $45 million
36. Antonio Roxas – $40 million
37. Wilfred Steven Uytengsu Sr. – $38 million
38. Philip T. Ang – $35 million
39. Marixi Prieto – $30 million
40. Manuel Pangilinan – $25 million

See the inquirer.net report.

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