Posted by geemiz | Posted in Accounting, Accounting News | Posted on 13-10-2015
Tags: Accountancy, Accounting
New Philippine CPA Board Exam Syllabus
The news is true. There have been changes to the CPA Board Exam Syllabus and this was proposed by the Board of Accountancy headed by BoA chairman Joel Tan-Torres last June 20, 2015 and presented during the Accountancy Week Celebration on July 2015.
The Revisions
1. Reduction in the number of subjects from seven (7) to six (6)
2. Merging auditing theory and practice into one (1) subject
3. Merging of accounting theory and practice and distributing the pertinent topics in Theory of Accounts, Practical Accounting I, Practical Accounting II to Financial Accounting and Reporting and Advance Accounting
4. Segregating Business Law and Taxation into “Taxation” and “Regulatory Framework for Business Transactions”
5. Renaming Management Services to “Management Accounting and Control”
The Catch
Since the previous Business Law is now changed to “Regulatory Framework for Business Transactions” expect that Law exam will now include laws and regulations issued by relevant government agencies like the SEC, DTI, etc.
In the Management Accounting and Control subject, an emphasis is given on “Control” which means that this too shall be of focus on the subject matter. This topic largely covered in Accounting Information System during undergrad.
Date of Effectivity
The BOA unanimously recommended to the PRC to implement these changes in the May 2016 CPA Licensure Examination. If you are like me who will take the said exam on that date, there is nothing to worry about, because according to Orlando Calundan’s post about the matter in philcpa.org “On the changes in subjects – We believe that the changes in subjects doesn’t really significantly impact the nature of items given during the exam. Of course there are always something new, like amendments to the accounting and auditing standards, amendments and revision in tax and business laws and regulations that are usually taking place even without changing the subjects.”
What are your thoughts about this changes? Leave in the comment below.
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hello, i took cpa board exam last march 2000. i failed to pass it. i worked as human resource staff and never used my knowledge in accounting. Now i am a housewife and got bored here in our house. I am planning to take the board exam again but i think i lost my memory what i took in my college days. What should i do to regain my knowledge and confident again to take the exam? Can I enroll in refresher course or not? Please send me an advise.
Thank you.
Ann Zata
Hello.
i have read your comment on the revisions of the subjects for cpa board exam.
i have a friend who didn’t take the cpa board exam for 5 years but now, he’s already a cpa.
enroll 1 semester of refresher courses so that you could retain what you have learned from college.
i suggest you to review at least a year then try to take for your license.
there’s no impossible for those who really want to be successful.
God bless
-Prince Chiong
BSA Graduating Student
🙂
Hello Ann,
Our situation is similar but since you posted this over a year ago, do you sharing what steps you took or planning to take?
I graduated in 2006 but have not taken the board exam yet. I started working as soon as I graduated from college.
I’m planning to take a review in November 2017 but I want to start now.
I’m curious if you have taken the exam yet.
Warm regards,
Lala Oli