Republic of the Philippines
Professional Requlation Commission
Professional RegueidH} Ward of Accountancy
Resolution No. 114
Series of 2016
AMENDMENTS TO RESOLUTION NOS. 2015-274 AND 2015-275 ON THE SYLLABI AND
TABLES OF SPECIFICATIONS (TOS) OF THE SUBJECTS IN THE BOARD LICENSURE
EXAMINATION FOR CERTIFIED PUBLIC ACCOUNTANTS (BLECPA)
WHEREAS, the Professional Regulatory Board of Accountancy (Board) issued Resolution
No. 2015-262 prescribing the six (6) new subjects of the Board Licensure Examination for
Certified Public Accountants (BLECPA), as follows: Financial Accounting and Reporting;
Advanced Financial Accounting and Reporting; Management Advisory Services; Auditing;
Taxation; and Regulatory Framework for Business Transaction;
WHEREAS, the Board subsequently issued Resolution Nos. 2015-274 and 2015-275 on the
) syllabi and Tables of Specifications (TOS) of the six (6) new subjects of the BLECPA;
“WHEREAS, the changes in the BLECPA subjects shall be initially applied in the May 2016
schedule of the licensure examinatior
WHEREAS, it was noted during stakeholders dialogue that the topics: (1) Code of Ethics for
Professional Accountants in the Philippines; (2) Republic Act No. 9298, otherwise known as
“Philippine Accountancy Act of 2004"; (3) and Effective Communication to Stakeholders
caayee not reflected in the syllabi and TOS of the six (6) new subjects of the BLECPA;
WHEREAS, the Board acknowledges the importance of these three (3) topics
In determining the entry-level competence of new CPAs, and as such, should be made
integral components of the BLECPA;
WHEREFORE, in view hereof, it is hereby RESOLVED that amendments be made to the
syllabi and TOS of the aforementioned subjects of the BLECPA, to reflect the following
changes:
1) To include the topic Effective Communication to Stakeholders in all of the six (6)
subjects of the BLECPA; and
2) To include the topics Code of Ethics for Professional Accountants in the Philippines,
Republic Act No. 9298 or the Philippine Accountancy Act of 2004 and
its Implementing Rules and Regulations (Board Resolution No. 71, Series of 2004)
in the subject Auditing.
FURTHER RESOLVED, that the individual subjects in the BLECPA be composed of two (2)
parts with the corresponding percentage weights
Subject Theoretical
___Competence
Financial 30% 70%
Accounting and
Reporting
‘Advanced 30% 70%
Financial
Accounting and
Reporting |
Management 30% 70%
Advisory Services
Auditing 50% 50%
Taxation 30% 70%
Regulatory
Framework for 70% 30%
Business
Transaction
P. PAREDES ST, CORNER N. REYES ST., SAMPALOC, MANILA, PHILIPPINES. 1008
P.O, BOX. 2038, MANILA20
[AMENDMENTS TO RESOLUTION NOS. 2018-274 AND 2015275,
(ON THE" SYLLAGI AND TABLES OF SPECIFICATIONS (TOS) OF THE
‘SUBJECTS IN THE BOARD LICENSURE EXAMINATION FOR
(CERTIFIED PUBUC ACCOUNTANTS (BLECPA)
This Resolution shall take effect immediately after its publication in the Official Gazette or in
any newspaper of national circulation. Let a copy of the same be further furnished the U. P.
Law Center, Commission on Higher Education (CHED), all universities and schools offering
B. S. in Accountancy, Board, Office of the Secretary to the Professional Regulatory Boards,
Records and Management Division, Rating Division, Legal and Investigation Division, all
Regional Offices and such other offices for information and guidance.
Done in the City of Manila, this 25thray of April 2016.
JOEL L. TAN-TORRES
/ Chairman
kL?
GLORIA T. BAYSA
Vice Chairman
GERARD B. SANVICTORES ELISEO A AURELLADO
Member Member
B. PADILLA CONCORDIO 4 QUISAOT
ember Membpr
ARLYN . VILLANUEVA
Member
Rk to Botta
ATTY. LOVELIKA T. BAUTISTA
Officer-in-Charge
Office the Secretary to the Professional Regulatory Boards
APPROVED BY:
me fal
TEOFILO S. PILANDO, JR.
Chairman
ANGELINE T. CHUA CHIACO
Commissioner
0-CH/0-C0V/0-COINPAB-ACC/O-LGLID-SAB
TSP/ATCCIYDRULT/ERILTSTABLE OF SPECIFICATIONS
FINANCIAL ACCOUNTING AND REPORTING
Topics/Outcomes
The examinees must be abl
Knowledge, Skils, Values
(KSV) (30%)
Degree of Independence (20%)
Remembering | Understanding
Development of Financial Reporting Framework and Standard Setting Bodies,
Regulation of the Accountancy Profession
1.1 | Identity the functions of the IASB or the FRSC.
Accounting Process
24 Adjusting Entries
2.1.1. Apply accrual basis for adjusting entries (accrual or deferral)
2.2 Accounting Cycle
2. rate the accounting cycle
3.1. | Conceptual Framework
3.4.1. Describe the basic objective of nancial statements
3.1.2 _Inlerpret the qualitative characteristics of financial information
3.1.3 _ Define and distinguish the elements of financial statements
3.1.4 _ Distinguish financial capital from physical capital
3.2. | Presentation of Financial Statements
3.2.1 Describe any of the general features of financial statements (TOA)
3.2.2 Compute current and non-current assets
3.3.3 Compute current labilties and non-current labiliies
3.3.4 Compute prof from continuing operations
3.3.5 Compute revenues, expenses, or profi or loss from discontinued operations
3.3.6 Compute cash flows ftom operating, investing or financing activities
9 7337 Distinguish adjusting events from non-adjusting events after the reporting
period
Financial Assets
14.28%
4.4 Cash and Cash Equivalent
“44.4. Describe the nature and measurement of cash and cash equivalents
4.4.2 Reconcile bank balance and book balance of cash.
“42. | Loans and Receivables ( Financial Assets at amortized Cost)
4.21 Describe the nature and classification on the financial statements of
receivables
4.2.2 Measure trade receivables and long-term receivables.
73. | Investments in Debt Instruments and Investments in Equity instruments
“43.1 Identify the nature of nancial assets included inthe classification Financial
‘Assets at Fair Value through Profit or Loss.
43.2. Formulate entries for recognition, measurement and disposal of Equity
‘Securities at Fair Value through Other Comprehensive Income
43.3 Apply the business model test for classifying financial assets at
Fair Value through Other Comprehensive Income (Debt Securities)
4.34 Describe the nature of debt investments that are classified as Held to
Maturity Securities (old IAS) or at Amortized Cost (new IFRS)
4.4 | Investments in Associates
44.2 Apply the equity method of accounting for investment in associates.
435 | Basic Derivatives (excluding Hedge Accounting)
4.5.4. Describe the basic understanding of derivatives.
‘4.5.2 _ Formulate the basic entries for recognition, measurement of derivatives.
50
Non-Financial Assets
21.83%
5.1__ Inventories
[5.1.1 Describe the nature of inventories using the definition of AS 2
5.1.2 Compute the cost of inventories based on FIFO, weighted average,
specific identification method.
:5.1.3 Apply te lower of cost and net realizable value for measurement of
inventories or cost of goods sold
5.1.4 Use estimating procedures (average retail inventory or gross profit
‘method in measuring inventories shortage or loss from catastrophe,
52.
Property, Plant and Equipment
5.2.1. Describe the nature of property, plant and equipment and the applicable
recognition princi recognition, measurement and
derecognition
5.2.2 Determine the intial recognition basis for PPE acquired for cash purchase,
‘exchange, deferred payment, self construction or donation
5.2.3 Apply an appropriate depreciation method to measure carrying value
of property plant and equipment.
5.2.4 Evaluate whether an item of PPE is impaired.
53.
Investment Property
'5.3.1_Describe the nature of investment property
5.3.2 Apply the measurement principles applicable to investment property
54
Intangibles
le assets and the applicable
recognition, measurement and