July 2014 CPA Board Examination

"The Professional Regulation Commission (PRC) announces that 1,107 out of 5,540
passed the Certified Public Accountant Licensure Examination given by the Board
of Accountancy in the cities of Manila, Baguio, Cagayan De Oro, Cebu, Davao, Ilo
ilo and Legazpi last July 2014.
The results were released in three (3) working days after the last day of examin
ation.
_____
Hi guys! For your future references, gusto ko lang ishare sa inyo yung insights
ko regarding the recently held July 2014 (Supposed to be May 2014) CPA Board Exa
mination. Alam naman natin na new set of Board of Accountancy ang nakapwesto nga
yon and I must say that the exam questions they formulated for each subjects is
quite different from the trend of the CPA Board examination for the past years.
1. AUDITING PROBLEMS
Auditing problems consists of 50 comprehensive questions divided into 10-12 prob
lems (I forgot the exact number of problems). May tatlong theory questions about
test of transaction cycle na lumabas and feeling ko yung mga lumabas na problem
s e self-constructed problems with no known sources. Answerable naman mostly (Ku
ng hindi niyo masolve, magworkback na lang kayo) except for the two problems na
yung isa about sa nagbenta siya ng Land tapos may contract of repurchase at siye
mpre yung Accounting for Zoo Animals na dito madaming naguluhan kasi hindi malin
aw yung standards (Hindi nga naturo ito sa klase e) kung icclassify ba siya as P
PE or Bio Assets. then kung PPE ba siya, idedepreciate ba sila o hindi. Nakagul
o din dito e each questions may Nil na choice.
2. PRACTICAL ACCOUNTING 2
Dito madami din nahirapan kasi yung dating trend na puro Cost Accounting ang ibi
nibigay, ngayon nawala na. And nakakagulat kasi parang naging TOA yung P2 dahil
may 12 items na theory questions ang lumabas which were reported by Sir Conrado
Valix sa BOA dahil hindi naman dapat magbibigay ng Theory questions sa P2 (Excep
t if NGAS or NPO). Sabi ni Sir Valix, Bonus daw yung mga Theories (So may 24 bon
us points agad kami sa P2? No one knows) more than 10 items are Business Combina
tions,more or less 10 items din ang lumabas sa FOREX at Hedging. and nakakagulat
kasi walang Home Office and Branch Accounting na lumabas. Questions were patter
ned (But not exactly the same) from Sir Dayags Prac 2.
3. THEORY OF ACCOUNTS
Sobrang nalungkot ako dito kasi more than 30 questions came from ReSA Preweek ha
ndouts and may copy ako nun tapos hindi ko man lang binasa kasi akala ko sa CPAR
Handouts kukuha. Sayang. Pero okay lang, tapos na e. All are objective based qu
estions mostly patterned din sa TOA reviewer ni Sir Valix. The questions were ok
ay. Pagalingan at padamihan ng alam ng concepts.
4. AUDITING THEORY
Isa ito sa mga subjects na pinaka kinabahan ako kasi Akala ko mostly subjective
type questions yung lalabas, yung mamimili ng BEST answer. Pero hindi pala. Laki
ng tuwa ko dahil more than half of the questions were patterned from Salosagcol
textbook. Sobrang laking tulong ng libro nila Sir Jekell. If you have time, bas
ahin niyo at sagutan niyo yung questions. Nawindang din lahat dahil may icebreak
er na two questions na nangangailangan ng grammar skills. Yung Each, Is. Tsaka L
ess, More. Haha! Sayang kung magkakamali ka pa sa ganun. Sabi din ng iba, madami
daw kinuha sa Wiley.
5. MANAGEMENT SERVICES
Eto talaga sobrang nagbago yung trend. 70 items pa din naman pero 18 questions l
ang ang tanong na lumabas na nangagailangan ng calculator. Dati kasi almost 50 q
uestions puro problems, the rest theories. Mostly CVP analysis ang lumabas and a
ll are easy questions. Yung theories, objective type. Nakakalito hindi ko alam k
ung saan kinuha pero sabi ng iba sa review book daw ni Maam Cabrera nanggaling yu
ng ibang questions. I dont know, hindi ko pa nakikita e.
6. PRACTICAL ACCOUNTING 1
Honestly, hindi siya ganun kahirap unlike sa mga preboard ng CPAR na mahirap tal
aga. Labanan lang din ng concepts. Mostly patterned sa P1 ni Sir Valix at may ta
tlong questions sa PRC Preweek. Nakakalito lang din kasi hindi mo alam kung ano
yung isasama mo as part ng Current Liabilities or Current Assets, pati Sa Cash f
low from operating Activities kasi may mga items na parang doon ko lang unang na
kita. Like yung doon sa inventory, inventoriable ba yung interest on inventory l
oan o hindi. Pati sa Equipment, capitalizable ba yung Interest o hindi. Answerab
le naman lahat.
7. BUSINESS LAW and TAXATION
THE EASIEST EXAM FOR THIS BATCH! Lol for Sarcasm! Grabe last day pa man din ng e
xam and akala ko talaga na hindi ganun kahirap dahil sabi ng mga kakilala ko na
CPA na, mostly objective type ang lalabas. Pero hindi. more than half ng questio
ns hinulaan ko. Nalito lito na ako. May mga Case Analysis tapos may mga items na
first time ko lang maencounter. Like yung abbreviation ng DOSRI, Grandfather Ru
le (Wala naman naituro lolo ko na may batas pala siya. Haha) Mas madami ata yung
questions sa Tax na lumabas ngayon, tapos 5 or 6 questions ang problem solving
sa. then may 3 questions na nangangailangan na naman ng grammar skills natin. Ab
out kasi yun sa paggawa ng report sa CIR or CTA. Kung ano daw ba yung best state
ment. With Regards, With Regard; On Behalf, In Behalf; meron pa lumabas "These a
re, This is; o These is". Killer subject for this batch!
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Grabe yung batch na ito, ito na ata yung may pinakamadaming napagdaanan. New BOA
, postponement of exam tapos low national passing percentage rate. Kaya gusto ko
icongrats lahat ng nagtake ng CPA Board exam this batch! Yung determination, p
erseverance at patience pa lang na tapusin yung exam, isang malaking achievement
na. Never give up guys! Hindi man lahat pinalad, Lahat tayo magiging CPA din!
Para sa mga magtatake sa upcoming batch. Please dont be bothered because this bat
ch got a low national passing percentage rate (Lowest so far for the Past 10 yea
rs). Habang nagrereview, sabayan niyo ng prayers. Before examinations, mag pray
ka. During exam, pagpray mo na tama ang ish-shade mong answer. After Examination
s, prayers pa din. Wag ka magsawang magdasal. Hold on to Gods promises, dahil sa
una pa lang, ang laban na ito, pinanalo na ni God sa atin! Papasaan pa at lahat
naman tayo magiging CPA din in Gods perfect time! God Bless guys! Galingan niyo s
a Board Exam!