Posted by geemiz | Posted in Accounting Guidelines | Posted on 28-07-2011
- Republic of the Philippines
OFFICE OF THE PRESIDENT
COMMISSION ON HIGHER EDUCATION
CHED MEMORANDUM ORDER (CMO)
No. ________
Series 2006
SUBJECT : MINIMUM CURRICULAR REQUIREMENTS FOR
BACHELOR OF SCIENCE IN ACCOUNTING
TECHNOLOGY (BSAT)
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In accordance with the pertinent provisions of Republic Act (RA) No. 7722, otherwise
known as the “Higher Education Act of 1994,” and for the purpose of locally adopting the
International Education Standards in Accounting Education as prescribed by the International
Federation of Accountants with the end view of keeping standards in accounting education in
the country comparable with the requirements of the global workplace, the following rules
and guidelines are hereby adopted and promulgated by the Commission:
ARTICLE I INTRODUCTION
Section 1. Accountancy is a profession that plays an important role in all societies. As
the world moves toward global market economies, and with investments and
operations crossing borders to an ever greater extent, professional
accountants need a broad global outlook to understand the context in which
businesses and other organizations operate.
Section 2. Rapid change has been the main characteristic of the environment in which
professional accountants work. Pressures for change are coming from many
sources including globalization, information and communication
technologies, and the expansion of stakeholder groups, including regulators
and oversight boards. Professional accountants are now expected to serve the
needs not only of investors and creditors but also the information needs of
many other users of financial and non-financial information.
One of the secondary products of globalization is the business process
outsourcing (BPO) industry, which has been cited as one of the fastest
growing industries of the world. While customer care call centers currently
form the largest part of the BPO, researchers say that financial and
accounting services is becoming as highly lucrative in the BPO industry, and
this falls under the practice of accountancy.
Section 3. Among the finance and accounting functions which are being outsourced
are: accounting and bookkeeping, account maintenance, accounts receivable
collection, accounts payable administration, payroll processing, asset
management, financial analysis and auditing, management consulting,
inventory control and purchasing, expense and revenue reporting, financial
reporting, tax reporting and other finance-related services such as financial
leasing, credit card administration, factoring and stock brokering, as well as
for logistics management and cargo shipment management. Some of these
functions however, may fall under sub-professional services and may not
necessarily be rendered by Certified Public Accountants but by record
keepers or accounting technicians.
Section 4. The trend worldwide is to have separate education requirements for those
going into professional level accountancy work and those who will work in
sub-professional or vocational type of accounting work. The latter, called
accounting technicians, are the skilled support staff working in accounting
and finance. They generally maintain systematic records of business
transactions, verify and record them, use computers to calculate, prepare and
process financial records.
Section 5. The foregoing trends lead to the need to design a program for accounting
technicians which could supply the needs of BPO for finance and accounting
services. This is the Bachelor of Science in Accounting Technology
Program, a non-board program. It has the same subject offerings from the
first to the second .third academic years as that of the BSA Program, but
does not have the Auditing and Management Consultancy subjects of the
BSA Program. Instead, it has additional units in accounting information
technology.
Section 6. Effectively, the Bachelor of Accounting Technology (BSAT) program will
serve as an acceptable ladder to the BSA Program, should the student, later
in life, decide and qualify for the program for CPA professionals
ARTICLE II AUTHORITY TO OPERATE
Section 7. All private higher education institutions (PHEIs) intending to offer the
Bachelor of Science in Accounting Technology (BSAT) program must first
secure proper authority from the Commission in accordance with the existing
policies.
Section 8. State universities and colleges (SUCs), and local colleges and universities
should likewise strictly adhere to the provisions in these policies.
Section 9. The minimum curricular requirements for Bachelor of Science in Accounting
Technology are herein prescribed for all schools duly recognized or
authorized by the government to operate the program including state
universities and colleges, and local colleges and universities.
You may also want to read:
BS-Accounting Technology Specifications
BS-Accounting Technology Syllabus
[…] ARTICLE III PROGRAM SPECIFICATIONS Section 10. The degree program described herein shall be called Bachelor of Science in Accounting Technology (BSAT). Section 11. The BSAT program may be offered in a separate School of Accountancy or in a Department of Accountancy in the Colleges or Schools of Business. Section 12. The primary goal of accounting education is to produce competent professional accountants capable of making a positive contribution over their lifetimes to the profession and society in which they work. In the face of increasing changes that they will meet later as professional accountants, it is essential that students develop and maintain an attitude of learning to learn, to maintain their competence later as professional accountants. Section 13. The BSAT program should provide a foundation of professional knowledge, professional skills, and professional values, ethics and attitudes that enable them to continue to learn and adapt to change throughout their professional lives. These capabilities will enable professional accountants to identify problems, know where to find this knowledge and know how to apply it in an ethical manner to achieve appropriate solutions. The balance of these elements may vary but what is required is to develop the knowledge base and strong skills in order to produce competent professional accountants with appropriate values, ethics and attitudes. Section 14. Preparing students for the Certified Accounting Technician (CAT) licensure examinations and for employment in private establishment and public sector (government agencies) are subsidiary objectives which should judiciously blend with the primary goal of preparing students for a successful long-term professional accounting career. Thus, the accounting graduate should be qualified to take and pass the CAT licensure examinations, and to obtain employment as an entry-level professional accountant. With proper orientation and supervision, he should be able to cope with the problems he will face upon in the workplace. Section 15. After completion of the program and passing the CAT licensure examination, the graduates can pursue a career in accountancy and related professions. Specific jobs vary widely among the four major fields of accountancy: public practice, commerce and industry, government and education. Specific sample opportunities are the following: Entry Level Jobs • Financial Statement Preparers • Financial Accounting and Reporting Staff • Management Accounting Staff • Tax Accounting Staff • Internal Audit Staff • Financial Analyst • Budget Analyst • Credit Analyst • Cost Accountant Middle Level Positions • Comptroller • Senior Information Systems Internal Auditor • Senior Fraud Examiner • Senior Forensic Internal Auditor • Financial Services Manager (Commerce & Industry and Government Sectors) Advanced positions • Chief Financial Officer • Chief Information Officer • Vice President for Finance/CFO (for GOCC’s) You may also want to read: Philippines CHED Memorandum BS-Accounting Technology […]
Accountants are really needed for the businesses to operate optimally. If you are planning to invest in Mindanao or nearby areas, try the accounting services in Davao City. Such professionals are already familiar with the tax system in this area, giving you excellent results.
This is great Sebastian. 🙂