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IMPLEMENTING

RULES AND REGULATIONS

IN CONDUCT OF THE

18TH RMYC: REGIONAL

ACADEMIC LEAGUE
CONTENTS

IRR 1.0 BACKGROUND


IRR 2.0 OBJECTIVES
IRR 3.0 ACADEMIC REQUIREMENTS, COVERAGE, AND ELIGIBILITY
IRR 4.0 QUALIFICATIONS AND GENERAL GUIDELINES
IRR 5.0 REQUIREMENTS
IRR 6.0 THE RMYC CUPS CONTEST RULES AND MECHANICS
IRR 7.0 THE RMYC CUPS SPECIFIC CONTEST GUIDELINES
IRR 8.0 CONSULTANCY CASE STUDY COMPETITON GUIDELINES
IRR 9.0 WHIZKIDS COMPETITION: THE BATTLE ULTIMA GUIDELINES
IRR 10.0 VIOLATIONS AND SANCTIONS
IRR 11.0 ENFORCEMENT
IRR 12.0 AMENDMENTS OR REVISIONS
IRR 13.0 SEPARABILITY CLAUSE
IRR 14.0 REPEALING CLAUSE
IRR 15.0 EFFECTIVITY
IRR 1.0 BACKGROUND

IRR 1.1 The REGIONAL ACADEMIC LEAGUE is an annual event of NFJPIA


REGION X and CARAGA in collaboration with different review schools and auditing firms.
This event aims to uphold academic competencies and promote stewardship among the
contestants. Representatives from each Local Chapter gather to showcase wits in solving
problems based on CPA board subjects. Ultimately, this event desires to promote one of
our Federation’s core goal— academic excellence.

IRR 2.0 OBJECTIVES

IRR 2.1 To build the sense of stewardship and sportsmanship and ultimately
promote Academic Excellence among JPIANs.

IRR 2.2 To help the participants discover their strengths and be aware of their
weaknesses in the different board-related subjects through different academic
competitions.

IRR 2.3 To promote camaraderie and sportsmanship among the participants from
the different Local Chapters.

IRR 2.4 To increase involvement and participation of Local Chapters in various


RFJPIA X and CARAGA Activities.

IRR 3.0 ACADEMIC COMPETITIONS, COVERAGE AND


ELIGIBILITY

IRR 3.1 The 18th RMYC: Regional Academic League shall be composed of
the following competitions:
ACADEMIC COMPETITION COVERAGE PARTICIPANTS

 General Knowledge All year levels


Whizkids Competition: The
 Accounting Trivia
Battle Ultima
 Current Events

1st year level (Accountancy


Cup 1  Basic Accounting students and/or related
course)

 Financial Accounting All year levels


Cup 2
and Report

 Advanced Financial
All year levels
Cup 3 Accounting and
Report

Management Accounting and


Council
All year levels
Cup 4  Management
Services
 Cost Accounting
 Regulatory
Framework for All year levels
Cup 5
Business
Transactions
Auditing
All year levels
Cup 6  Auditing Theory
 Auditing Problems
All year levels
Cup 7 Taxation

All year levels


Cup 8 All Board Exam Subjects

Consultancy Case Study All year levels


Risk Management
Competition
IRR 4.0 QUALIFICATIONS AND GENERAL GUIDELINES

IRR 4.1 Each Local Chapter is required to send the following number of
contestants per event:

 Cup Series - two (2) contestants per cup


 Consultancy Case Study Competition ‐ one (1) Team with three (3) members
 The WhizKids Competition: The Battle Ultima - two (2) teams with three (3)
members each.

IRR 4.2 Contestants must be BS Accountancy or any related course (BS


Accounting Technology, BS Management Accounting, others) students who are
bona fide members of NFJPIA REGION X and CARAGA, FY 2019-2020.

IRR 4.3 Each contestant shall be given the privilege to join a maximum of three
(3) events given that said events have different schedules, otherwise, he or she
shall automatically be disqualified from one of the events.

IRR 4.4 For team competitions, teams with incomplete members are not allowed
to participate in any event. They can only join once they are complete but they can
no longer answer those questions they missed.

IRR 5.0 REQUIREMENTS

IRR 5.1 The Vice President for Academics of each Local Chapter must submit a
soft copy of following requirements:
1. Correctly accomplished application form (attached below)

2. Softcopy (scanned) of the contestant’s complete and valid Certificate of


Registration from his respective school certifying that he is enrolled in the current
semester.

3. Softcopy (scanned) of the contestant’s valid school ID.

IRR 5.2 All requirements must be sent to


nfjpia1920.r10caragavpacademic@gmail.com in .zip format on or before September
1, 2019, 11:59 PM.

The file name format to be used shall be:


LC_AcadRequirement
Example: PCC_AcadRequirements

IRR 5.3 Change of contestants for any of the Academic Events shall be allowed
provided that it shall be communicated to the Regional Vice President for Academics at
least SEVEN DAYS before the convention proper and must comply with the following
requirements:

1. Updated application form

2. Softcopy (scanned) of the contestant’s complete and valid Certificate of


Registration from his respective school certifying that he is enrolled in the current
semester.

3. Softcopy (scanned) of the contestant’s valid school ID


IRR 5.4 All contestants should present their validated school ID upon registration
on the actual competition.

IRR 5.5 NO WALK-IN CONTESTANTS SHALL BE ALLOWED

IRR 6.0 THE RMYC CUPS CONTEST RULES AND MECHANICS

IRR 6.1 Contestants are required to be in the contest venue 20 minutes before
the scheduled time of the competition for registration.

IRR 6.2 Contestants are strictly required to be in their corporate attire during the
competition (no denim jeans, no rubber shoes). Violation of this rule is a ground for
disqualification.

IRR 6.3 Late contestants will still be allowed to join the competition. However, they
can no longer answer the questions they have missed.

IRR 6.4 A CPA-Judge (or Board of Judges) shall be invited. They shall be vested
sole and exclusive authority to decide on any protest/clarification made by a contestant
or registered adviser. The judge’s decision shall be Final and irrevocable.

IRR 6.5 Each Local Chapter is required to identify at least 1 (one) official adviser
upon registration. Each local chapter has the choice to register different advisers per cup.
The Judge (or Board of Judges) and the Committee for Academics shall only entertain
protest or concerns from contestants or registered adviser.

IRR 6.6 Contestants shall be provided with a copy of the question for every item.
The Contestants must not flip the copy of the question until the quizmaster announces
the question number. Warning shall be given for the First offense. On the second offense,
the contestant shall be given sanction of accumulating only 50% of his total score
garnered in all rounds. Third Offense entails disqualification from the competition.

IRR 6.7 All Questions whether theory or problems requiring computation shall only
be read TWICE.

IRR 6.8 Contestants are only allowed to manipulate their calculators after the quiz
master says “GO”. Warning Shall be given for the First offense. On the second offense,
the contestant shall be given sanction of accumulating only 50% of his total score
garnered in all rounds. Third offense entails disqualification from the competition.

IRR 6.9 Contestants must raise their answer board once the quizmaster says so.
Any contestant who fails to comply will receive a warning on the first offense. On the
second offense, the contestant’s answer will be forfeited.

IRR 6.10 Contestants are expected to write their answers legibly. Abbreviations
are allowed provided that the quizmaster says so. In case of any protest on answers
written ambiguously or abbreviated, points maybe claimed only upon the resolution of the
panel of judges and the Regional Vice President for Academics.

IRR 6.11 Any protest or concern (request for new marker or scratch paper, to
change calculator, or others) must be raised before the next question. Therefore, once
the quizmaster has announced the number of the succeeding question, no more protest
or concern shall be entertained.
IRR 6.12 In cases where a question is voided upon the recommendation of the
Board of Judges or by the Academics Committee, another question shall be asked
coming from the clincher questions to replace the voided question.

IRR 6.13 Any contestant caught cheating shall be disqualified in the competition
and shall no longer be allowed to participate in other academic events.

IRR 6.14 In case of a tie at the end of the three rounds, tie breaker questions shall
be asked until the deadlock is broken. Tie breaker question/s shall have NO bearing on
the cumulative score of the contestants. Whoever gets the right answer and raises his
answer board first shall advance to the next round or otherwise be declared the winner.

IRR 6.15 The Committee for Academics shall be composed of the Regional Vice
President for Academics and its Committee Members.

IRR 6.16 Any member of the Board of Judges, RFJPIA Executive Board, and
Academics Standing Committee shall be vested with the power to give sanction to any
contestant he/she has witnessed violating any of the said provision in this IRR.

IRR 6.17 In case of any concern, clarification, or protest which is not governed by
the Implementing Rules and Regulations (IRR) of the said provision, the Regional Vice
President for Academics shall have the absolute power to decide, upon consultation with
the board of judges and/or Regional Adviser, on matters which he deems necessary to
preserve and protect the integrity of the event. His decision is final and irrevocable.

IRR 7.0 THE RMYC CUPS SPECIFIC CONTEST GUIDELINES


IRR 7.1 The RMYC Cups shall be comprised of TWO rounds, the QUALIFYING
and the FINAL round, each with three sub-levels namely Easy, Average and Difficult
level. In case of a tie after every round, clincher questions shall be given until the deadlock
is broken. Time allotment, number of items and corresponding points are as follows:

EASY AVERAGE DIFFICULT CLINCHER

Theory
10 seconds 10 seconds 10 seconds 10 seconds
Problems

Computation
20 seconds 45 seconds 60 seconds 30 seconds
Problems
Number of
10 10 10 -
Items
Points 3 5 7 -

IRR 7.2 In the Qualifying Round, All questions shall be provided with choices.

IRR 7.3 In the Final Round, only theory questions shall be provided with choices.
For computation problems, contestants shall be required to write the answers.

IRR 7.4 After the Qualifying Round, the top ten (10) contestants accumulating the
highest score shall advance to the Final round.

IRR 7.5 All points during the Qualifying Round shall revert to zero.

IRR 7.6 In the Final Round, point deductions corresponding to the assigned points
for every sub-level shall be given for every incorrect answer. Negative points shall be
allowed. Contestants may choose not to give an answer for a specific question to avoid
deductions. However, they can only leave three questions unanswered for each round.

IRR 7.7 The top three (3) Contestants shall be declared as Champion, 1st Runner-
up, and 2nd Runner-up.

IRR 8.0 CONSULTANCY CASE STUDY COMPETITION


GUIDELINES

IRR 8.1 Contestants are required to be in the contest venue 20 minutes before
the scheduled time of competition for registration.

IRR 8.2 Late teams will still be allowed to join the competition. However, they will
not have any time extension.

IRR 8.3 Contestants are not allowed to bring any material except their own
calculators, laptops, a dictionary, and one reference book per member.

IRR 8.4 Contestants must strictly be in corporate attire throughout the contest
proper. Otherwise, the contestant shall be disqualified.

IRR 8.5 Broadband or pocket wifis are allowed for the Consultancy Case but
participants can only use it for their laptops. Using of cell phones are prohibited and
sources that are searched beforehand are not allowed.

IRR 8.5 The Consultancy Case Study Competition shall be divided into two rounds,
namely:
IRR 8.5.1 Written Report Round - During this round, the participants shall
submit their reports containing their analysis and answer on the case.

IRR 8.5.2 Oral Defense Round - In order to determine the final ranking of
the top five teams, the participants shall present their report in a PowerPoint format
for 10 minutes and another 15 minutes shall be allotted for question and answer
portion.

IRR 8.6 The case shall be given on the first day of the convention after the opening
program. The teams shall be given four hours to prepare a written report which should be
submitted in soft copy. Contestants shall not be allowed to exit the venue within the
duration of the writing of report. Packed foods and drinks will be allowed to be brought
inside the venue. Results will be announced immediately after the board of judges
declares their decision.

IRR 8.7 The written report shall contain the following sections at the minimum:

 Title Page
 Background of the Case (Abstract)
 Statement of the Problem (Main and Sub Problems)
 Assumptions
 Analysis (with supporting computations if any)
 Recommendations

(Contestants may include additional parts to the written report in order to add substance
to the case study so long as the major parts indicated above are present)

IRR 8.8 The written report should follow the following format:

 Font Style – Cambria


 Fonts Size – 12
 Spacing – 1.5
 Margin – 1 inch in all sided
 Maximum of ten pages only

The official letterhead template of RFJPIA 10 and CARAGA shall be used. Copies of the
template should be given to the teams before the start of the competition. This is to
prevent teams from putting anything that would indicate the Institution in which they were
affiliated (Note: refrain from including any local chapter-identifying information in headers,
footers in the written report and power point presentation. The case analysis must have
attached a title page, which includes the control number of the team only. VIOLATION
OF THIS RULE SHALL BE SUBJECT TO 5-POINT DEDUCTION PER JUDGE.

IRR 8.9 The following criteria shall be used to evaluate the written report:

CRITERIA PERCENTAGE
Proper identification of the entity’s main
20%
problems or sub problems
Adequacy and appropriateness of
30%
assumptions and analysis
Reasonableness, relevance, and
40%
feasibility of recommendations
Technical Aspects 10%
TOTAL 100%

IRR 8.9.1 Proper identification of the entity’s main problems or sub


problems is the extent in which the team:
 Effectively uses all available information to identify the entity’s
problems and or sub-problems against identified criteria.
 Successfully classifies the problems if it is a main problem or sub
problem and prioritizing the problems based on its criticality.
 Provides clear identification of root causes of the problems that the
entity is encountering. Identifying what went wrong, giving birth to the
problem identified.

IRR 8.9.2 Adequacy and appropriateness of assumptions and analysis is


the extent in which the team:
 Successfully identified adequate and appropriate assumptions that
would eventually be the basis in forming analysis and
recommendations.
 Effectively identified the impact of the problems to the entity.
 Logically presented relevant financial information and supporting
computations, if any.

IRR 8.9.3 Reasonableness, relevance and feasibility of the


recommendations are the extent to which the team:

 Effectively identified the root cause of the problems identified with


the recommendations presented.
 Considered the cost, benefit and feasibility of the recommendations.

IRR 8.9.4 Technicalities are the extent to which the team:


 Followed the recommended guidelines for written reports.
 Presented its ideas in a logical, cohesive and smooth manner.
 Exhibited proper sentence construction and grammar.

IRR 8.10 Top five local chapters shall advance to the Defense Round.

IRR 8.11 The qualifying teams shall be given two hours to prepare a power point
presentation and rehearse their oral presentation. After two hours, all teams shall be
isolated in one room and shall wait for their turn to defend their case analysis.

IRR 8.12 The teams shall present their report in front of the panel of judges for 10
minutes and another 15 minutes shall be allotted for the question and answer portion.

IRR 8.13 The medium for presentation must be English.

IRR 8.14 The following criteria shall be used to evaluate the oral presentation:

CRITERIA PERCENTAGE
Delivery 40%
Content 60%
TOTAL 100%

IRR 8.14.1 Delivery is the extent to which the team:

 Demonstrates organization of information in presenting their report.


 Speaks clearly and distinctly.
 Clearly answers questions
 Exhibits persuasiveness and confidence in presenting their report
and shows credibility on presenting the recommendations.
 Does not deviate from submitted written report.
IRR 8.14.2 Content is the:

 Over-all output of the team’s report


 Accuracy and relevance of presented details
 Methodology of the team’s report presentation

IRR 8.15 The final score in the case study competition shall be computed as follows:

CRITERIA PERCENTAGE
Written Report 40%
Oral Defense 60%
TOTAL 100%

IRR 8.16 Top 3 scorers shall be declared Champion, 1st Runner-up, and 2nd
Runner-up, respectively.

IRR 9.0 WHIZKIDS COMPETITION: THE BATTLE ULTIMA


GUIDELINES

IRR 9.1 Contestants are advised to be at the designated place 20 minutes before
the scheduled time of the competition for registration. A contestant is considered late once
the quizmaster starts reading the First Question for the first subset. For Late teams kindly
refer to IRR 4.4.

IRR 9.2 All questions shall be presented through a PowerPoint presentation and
shall be read twice by the quizmaster.
IRR 9.3 Teams can write their answer as soon as the quizmaster starts reading
the question.

IRR 9.4 There shall be three rounds: The Initiation, The Investment Round, and
The Invasion.

IRR 9.5 THE INITIATION

 The Initiation shall consist of 15 multiple choice questions.


 Questions shall cover general knowledge, accounting trivia, and current
events.
 For Every question, the teams shall be provided with two possible answers
and a free-choice to write the answer which they think is correct. One or
none of the specific choices may be correct. It is thus the discretion of the
teams to come up with the right answer either by choosing one among the
two choices given or writing their own answer equivalent to five (5) points.
However, a correct answer taken from the choices provided is only worth
three (3) points.
 Teams will be given ten seconds to answer each question.
 Answers should be reduced to writing before the allotted time has elapsed.
The boards must be raised immediately thereafter. Violation of this said
provision shall make the answer of the team invalid.
 Wrong spelling is definitely wrong.
 The top ten (10) teams garnering the highest score shall proceed to the next
round.
 In case of a tie, tie breaker questions shall be asked until the deadlock is
broken. Tie Breaker question/s shall have no bearing on the scores of the
contestants. The first Team who raises their board and gets the correct
answer shall qualify to the next round.

 GAME-CHANGER: THE COIN TOSS

Some questions will require teams to choose either HEADS OR TAILS. It


will determine their right to answer the next question. If the team chooses
the face of the coin that eventually showed up after the coin toss, they have
the chance to answer. Otherwise, they have no right to answer the question.
If a team has the chance to answer, and answered correctly, they get double
points depending on the points for the question; otherwise, they get double
deduction.The team has to decide before the coin will be tossed. The
category of the question will be announced after the coin toss. For easier
tracking, the team has to raise their flag to indicate their preference. Will it
be HEADS? Or TAILS?

IRR 9.6 THE INVESTMENT ROUND

 Scores shall revert back to zero.


 The Investment Round shall consist of 15 non-multiple choice questions.
 Questions shall cover general knowledge, accounting trivia, and current
events.
 Every correct answer is equivalent to 10 points.
 In this round, each team will be provided with a start-up score of 500.
 Before the question will be read, the quizmaster will ask WHO WILL
INVEST? and the team will decide whether they will to invest a score of 50,
100, 200, 300, or 350. The team may choose not to invest as well. Once all
the teams have decided, a percentage will be revealed. This will be the
percentage increase in the invested score if the team will be able to answer
the question correctly. However, if the team answered wrong, they will have
a loss equivalent to the percentage of the invested score. If the team
decides to invest, the team should raise their white cloth. (Note: If the team
who invest and got the correct answer, they will have a score of 10pts. plus
the amount of increase from investment) Teams will be given fifteen
seconds to answer each question.
 Answers should be reduced to writing before the allotted time has elapsed.
The boards must be raised immediately thereafter. Violation of this said
provision shall make the answer of the team invalid.
 Wrong spelling is definitely wrong.
 The top five (5) teams garnering the highest score shall proceed to the next
round.
 In case of a tie, tie breaker questions shall be asked until the deadlock is
broken. Tie Breaker question/s shall have no bearing on the scores of the
contestants. The first Team who raises their board and gets the correct
answer shall qualify to the next round.

 GAME-CHANGER: THE JIGSAW HUSTLE

The teams will get the chance to earn a guaranteed place in the top 5 if they
will be able to guess the mystery picture of the round. Throughout the round,
before the team decides on investing, a jigsaw puzzle piece will be flashed.
Each team could only have one attempt of answering the mystery picture.
Once they answered wrong, the team could not try guessing anymore. If the
team would try to guess the picture, the team should raise a white flag. First
to raise the flag will be accommodated first. When the quizmaster starts
asking WHO WILL INVEST?, all teams cannot answer anymore and have
to wait for the next flashing of puzzle piece. If no one guessed the mystery
picture at the end of the round, those teams who haven’t guessed yet will
be given 5 minutes to answer. 30 seconds before the time is up, a hint will
be given to help the teams guess the mystery word.

IRR 9.7 The End Game

 Is an individual competition.
 Question is strips of papers and placed in the inflated balloon.
 The sequence will be based on the second round ranking.
 Participants are required to wear a safety gloves provided by the council
and any sharp objects are not allowed.
 Every team will be given a two minutes to pop up the balloons as much as
many as you can from the 50 balloons on the ground.
 Each member of the team will be given an at least two attempt to answer
the questions and have a chance to pass. FIRST ATTEMPT will weigh a
seven (7) points and on the SECOND ATTEMPT is only three (3) points.

IRR 9.8 In case of a tie, tie breaker questions shall be asked until the deadlock is
broken. Tie Breaker question/s shall have no bearing on the scores of the contestants.
The first Team who raises their board and gets the correct answer shall qualify to the next
round.
IRR 9.9 The top three (3) teams garnering the highest block shall be awarded as
WhizKids Competition: The Battle Ultima Champion, 1st Runner-up, and 2nd Runner-up,
respectively.

IRR 9.10 Any protest must be raised before the next question. Therefore, once the
quizmaster has announced the number of the succeeding question, no more protest or
concern shall be entertained. The resolution of the protest maybe done immediately or
deferred at the end of a specific round, before the qualifiers (or winners) shall be
announced. The ranking of winners, once declared, is final and irrevocable.

IRR 10.0 VIOLATIONS AND SANCTIONS

IRR 10.1 The above-mentioned Regional Academic League Implementing Rules


and Regulations are for RFJPIA and related persons information exchange only. The
Council maintains the relevance and reliability of this document through the strict
implementation of its rules and regulations.

IRR 10.2 Any Questions raised by the contestants that are not included in the IRR
shall be subjected to the jurisdiction of the Regional Vice President for Academics, Board
of judges and/or regional adviser. The Decision of the Regional Vice President for
Academics and the RFJPIA Executive Officers will be Final and irrevocable.

IRR 11.0 ENFORCEMENT

IRR 11.1 It shall be the primary duty of the Regional Vice President for Academics
and the Regional Executive Officers to effectively enforce the provisions of this
Implementing Rules and Regulations. The Executive Officers also have the sole right to
interpret the contents of this Implementing Rules and Regulations and their decision will
be binding and irrevocable.

IRR11.2 The Regional Adviser or his duly designated representative shall act as
legal adviser to the Regional Vice President for Academics and the Regional Executive
Officers and shall render legal assistance as may be necessary in carrying out the
provisions of this Implementing Rules and Regulations.

IRR 12.0 AMENDMENTS OR REVISIONS

IRR 12.1 The Regional Executive Officers shall be vested with the exclusive power
to revise and amend the Implementing Rules and Regulations.

IRR 12.2 Any amendments or revisions to this Implementing Rules and


Regulations may be proposed by any member of any local chapter upon a written request
of such member, stating the reasons thereto.

IRR 12.3 Any request for amendments and revisions as well as proposed
amendments must initially be reviewed by the Regional Vice President for Academics
then forwarded to the Regional Executive Officers for discussion, editing and Final
approval and to be noted by the Regional Adviser.

IRR 12.4 The Regional Executive Officers shall have the right to debunk any
proposed revisions and amendments, submitted to them by the Regional Vice President
for Academics, Which are deemed unnecessary. The final Decision on any inclusions and
exclusions to this Implementing Rules and Regulations must be determined by a majority
vote of all Regional Executive Officers.

IRR 12.5 Amendments to particular provisions in this Implementing Rules and


Regulations shall be allowed provided that such amendments will be communicated to
stakeholders at least two weeks before it could take effect.

IRR 13.0 SEPARABILITY CLAUSE

IRR 13.1 If any clause, provision, paragraph or part of this Implementing Rules
and Regulations shall be declared unconstitutional or invalid, such judgment shall not
affect, invalidate, or impair any other part hereof but shall be merely confined to the
clause, provision, paragraph or part directly involved in the controversy in which such
judgment has been rendered.

IRR 14.0 REPEALING CLAUSE

IRR 14.1 Any Rule and regulation or resolution or part/s thereof inconsistent with
the provisions of this Implementing Rules and Regulations are hereby repealed or
modified accordingly.

IRR 15.0 EFFECTIVITY


IRR 15.1 This Implementing Rules and Regulations shall take effect immediately
after its presentation and approval on the Executive Board’s Meeting. Promulgated in this
July 13 & 14, 2019 at PICPA Building, Cagayan de Oro City.

Prepared by:

ALMERAH M. PUNDAODAYA
Regional Vice President for Academics
Region X and CARAGA
Pilgrim Christian College