You are on page 1of 13

CAT Challenge Exam

If you have graduated from any of the accredited providers, then you will only have to take the CAT Challange Exam. The CAT challenge exam can be take in three levels: Level 1 : Practical Accounting Level 2: Cost Accounting Level 3: Taxation and Payroll Accounting

Taking the Full Course
If you didn't finish an accounting course at any of the recognized universities but still want to pursue being an Accounting Technician, you will have to take the full course consisting of nine (9) parts with 9 exams. The first six (6) parts of the course will help you qualify to take the CAT challange exam that will pave your way to be an Accounting Technician. The last three (3) exams will consist of the CAT challange exam.

7:00 pm) NIAT HQ.November 10. which all CAT® Level 1 passers are also eligible to become Certified Bookkeepers of UK The Accelerated CAT® Level 1 Certification Program Curriculum .CAT® Level 1: Practical Accounting Sign up for the CAT® Level 1 Program TODAY! October 13 . Each module contains set of drills and real-life cases for you to assess how well you are progressing. The qualification itself has been split into Four modules for ease of learning. 2012 (10:00 am . Ortigas. Pasig City What is the CAT® Level 1 Program? The CAT® Level 1 program is designed to nurture the learning process and provide you with well presented and structured course.The Program is also accredited by the Institute of Certified Bookkeepers in UK.

cash receipts. The program itself has been split into four modules (plus a comprehensive review at the end) for ease of learning. preparation of a voucher and recording in voucher register Use of check register and payment process of the voucher system Use of combination journal especially for service enterprises Module 2: Completing the Accounting Cycle        Adjusting journal entries that will update the matching process The use of worksheet as a useful device for collecting and summarizing data Preparation of the adjusting and closing entries from a worksheet Performing Bank Reconciliation The adjusting and closing entries Preparation of a post closing trial balance Finalizing the multi-step and single-step income statement. The CAT® Level 1 exam is fully accredited by the Institute of Certified Bookkeepers UK. Module 1: Review of Bookkeeping Skills   Basic principles of double entry accounting Nature and accounting of a merchandising business and how it differs with a service business Module 3: Constructive Accounting       Establishing of Internal Controls to safeguard assets most specially Cash Single entry bookkeeping systems Reconstruction of Incomplete records Conversion of Cash -basis to accrual accounting Correction of Errors Analysis and Interpretation of Financial Statements      Analyze and record transactions in the accounts such as purchases and sales Preparation of chart of accounts for a merchandising and service business Use of T accounts to analyze transactions into debit and credit parts Preparation of trial balance and learn its purpose Understanding matching concept relates to and supports the accrual basis of accounting Module 4: Special Journals  Recording of transactions using sales journal. statement of owner's   Module 5: Comprehensive Review . Each module contains a set of drills and real-life cases in order for you to assess how well you are progressing. Passers of this exam can apply for Certified Bookkeeper (CB) qualification. cash payments journal and general journal  Use of voucher system to control expenditures.The CAT® Level 1 Program is designed to nurture the learning process and provides you with a well-presented and structured course. purchases journal.

Each module contains set of drills and real-life cases for you to assess how well you are progressing. This intensive program is designed to condense three sessions into a one-day review course. CAT® Level 2 Program Syllabus . United Kingdom. Grab the opportunity now while seats are still available! The Benefits of CAT® to You       Offer your employer proven specific skills and knowledge. Candidates who are seeking to join the Accelerated CAT® Level 1 certification program must :   Be a Certified Public Accountant (CPA) or Have at least five (5) years experience in accounting work NIAT will be offering the Accelerated CAT® Level 1 Program just for this year. Advance your career and increase your compensation potential. Put CAT® after your name. and other Asia-Pacific countries. giving you the same distinction among bookkeepers that "CPA" gives to Certified Public Accountants. New Zealand.  equity Balance sheet for a merchandising and service business Completing the accounting cycle Who Should Sit for the Accelerated CAT® Level 1 Program? Only serious applicants need apply. Enhance your value to your company and clients. The Program is also accreditted by the Institute of Certified Management Accountants (ICMA) in Australia. The qualification itself has been split into five modules for ease of learning.Cost Accounting The CAT® Level 2 Program is designed to nurture the learning process and provide you with well presented and structured course. . Increase your chances of working overseas where CAT® is recognized such as Australia. Increase your value to your company or clients — Certified Accounting Technicians can and do take on new responsibilities. wherein CAT® Level 2 passers are eligible to become a Registered Cost Accountant®.

ideal. etc. and interrelationship between. period and product costs. attainable and current standards Identify and calculate sales and cost variances Prepare standard product cost and analyze different types of variances between standard and actual product   Recognize the variety of cost units. control and decision-making purposes Module 4: Budgeting for Planning and Control        Identify and apply techniques for forecasting revenue and expenditures Prepare operational. cash. fixed and variable costs. flexible budgets and reforecast Calculate variances and identify their cases Explain and illustrate the concept of zero-based budgeting Explain the uses and limitations of standard costing Identify and determine different standards. stocktaking and inventory control Explain and illustrate the perpetual inventory system and its procedures documentation Explain and illustrate the methods available for pricing stores issues and for inventory valuation  costs Identify the significance of. cost centers and profit centers Differentiate between direct and indirect costs. Labor.Module 1: Understanding Management Information  Appreciate the importance of financial and non-financial information for planning. curvi-linear and step functions    Appreciate the importance of unit costs for both financial and management decision making Module 2: Accounting for Materials. and capital expenditure budgets Explain the differences between fixed budgets. variances Module 5: Estimating Costs and Revenues for Decision-Making  Calculate and explain the usefulness of contribution margin and contribution margin ratio Determine the sales volume required to earn a desired level of operating income Identify the purposes of break-even analysis Illustrate and determine the margin of safety Use Cost Volume Profit (CVP) relationships to evaluate a new marketing strategy Identify assumptions underlying CVP        Explain the impact of different remuneration methods on the cost of finished goods Explain and illustrate the problems and procedures of identifying. avoidable and   unavoidable costs. allocating and absorbing overhead costs    Explain the different bases for overhead absorption rates Compute overhead absorption rate  . and Overhead Costs  Describe the methods and procedure of storekeeping. basic. controllable and uncontrollable costs. analyzing. Identify cost classification for decisionmaking and planning Appreciate cost behaviour patterns including linear.

Each module contains set of drills and real-life cases for you to assess how well you are progressing. . process losses and work in progress Explain the difference between joint product and by-product costing  CAT® Level 3 Program Syllabus .Payroll and Taxation Accounting The CAT® Level 3 Program is designed to nurture the learning process and provide you with well presented and structured course. Differentiate and calculate plant-wide overhead rates and departmental overhead rates Explain and illustrate the principles and methods of treatment of under and overabsorption of overhead costs analysis  Module 3: Accumulating Costs for Products and Services     Explain the flow and accumulation of costs when using job costing Describe the purpose and content of job cost sheet Identify appropriate units for accumulation of control costs Explain the treatment of profit/loss on contracts including uncompleted contracts     Demonstrate the application and identification of cost units Explain and determine the equivalent units and cost per equivalent unit Demonstrate how costs are assigned to equivalent units using process costing Demonstrate cost accounting methods used in cost processes. The qualification itself has been split into three modules for ease of learning. Passers of CAT® Level 3 are eligible to become either a Certified Accounting Technician® of the Institute of Accounting Technicians in Canada or a Certified Accounting Technician® of the Institute of Certified Management Accountants in Australia.

such as bankers and investment advisers. the DipIFRS aims to:   Develop expertise in the application of accounting concepts under the International Financial Reporting Standards. who want to develop their knowledge and understanding of IFRS. and . Phil Health.Module 1: Payroll Accounting  Payroll computation whether on daily. Create avenues of international mobility through the credential DipIFRS. Participants’ on the Diploma course will also gain and benefit from attaining a working knowledge of IFRS. allowable business expenses and personal exemptions Minimum Corporate Income Tax. Services. sales or commercial invoice Program Objectives Designed for accountants. and/or monthly basis Module 3: Business Taxes: Value Added Taxes and Percentage Taxes   Concept and Scope of Value Added Taxes and Tax Exempt transactions VAT on Sale of Goods or Properties. Withholding and Remittance of VAT Rates and Bases of Percentage Tax Withholding of Percentage Taxes and Expanded Withholding Percentage Taxes/li> Monthly Remittance of VAT and Other Percentage Taxes  Computation of Withholding Taxes due. Use of Lease of Property and Importation of Goods Input and Output Taxes and Computation of VAT Payable Compliance requirements. auditors and other professionals. Improperly Accumulated Earnings and Gross Income Tax for Corporations   Preparation of Quarterly Income Tax return (BIR Form 1702Q) and Annual Income Tax Return (BIR Form 1702) Compliance requirements such as keeping Books of Accounts and its preservation   BIR registration requirements and issuance and printing of receipts. and other deductions Recording of payroll and present them to the corresponding financial statements Implementation of necessary internal control measure in payroll processing       Module 2: Business Income Taxation     General Principles of Taxation Income Tax Rules for business and practice of profession Sources of Income. SSS Premium due. semi monthly. financial managers. weekly.

it is an opportunity to transfer a crucial new skill set to those responsible for making accounting decisions and preparing. coverage of IFRSs. and participants are brought up-to-date on all topics. examples. Essence of IFRS  Module 5: Specialized Industries and other situations     IFRS and the economic crisis – What are the issues? o The Framework – theory vs. To Whom Does IFRS Apply? The DipIFRS program provides a detailed review of all significant technical IFRS requirements. Provide an opportunity to candidates of taking their accounting skills to highly advanced level and be able to progress within various accounting support roles as IFRS specialists. It includes case studies. The program includes the latest pronouncements. exercises. reviewing or approving IFRS financial statements. In essence. and interactive hands-on participation from the participants. This comprehensive workshop helps participants to acquire the tools necessary to understand and apply IFRS and prepare IFRS financial statements. This program is ideal for individuals at all levels within an organization who need to have detailed knowledge of IFRS. practice o The issue of ―fair value‖ Lessons from the latest compliance Accounting and reporting by retirement benefit plans (IAS 26) Insurance and contracts (IFRS 4) Exploration for and Evaluation of Mineral Resources (IFRS 6) . The DipIFRS program answers questions such as:       What are the current and likely future requirements of IFRS? What is the probable impact of adopting such requirements? How are IFRS recognition and measurement rules applied? What are the requirements for presentation of IFRS financial statements and related disclosures? Where can up-to-date information about IFRSs be obtained? How can complex or unique situations be researched? Program Syllabus The DipIFRS course is structured into six (6) modules covering all the standards and its latest pronouncements. The course comprises of six (6) class room lecture sessions spread over two (2) months. The program is generic and does not focus on any one particular industry.

  issues  Agriculture (IAS 41) The IASB’s work programme and  Financial reporting in hyper inflationary economies (IAS 29) convergence The IFRS for SME’s – is this the Module 6 way ahead?       Module 1  Accounting for Financial Instruments – IAS 39 and 32 & IFRS 7 Financial instruments – disclosure and presentations (IAS 32) Financial Instruments recognition and measurement (IAS 39) Financial instruments – disclosure and presentations (IAS 32) Financial Instruments: Disclosures (IFRS 7) Share based payment (IFRS 2) Accounting Policies changes in accounting estimates and errors (IAS 8) Events after the balance sheet date (IAS 10) Related Party Disclosures (IAS 24) First-time adoption of IFRS (IFRS 1) Interim financial reporting (IFRS 34)     The Role of IFRS in the Economic Crisis Module 2: Income Statement – Profit & Loss Account               Workshop on the details The Principles The Necessary arithmetic Identifying financial Instruments Recognizing and de-recognition Measurement o Initial o Fair Value o Impairment Derivatives o Embedded Derivatives Hedge Accounting o Hedge effectiveness Presentation and disclosure Revenue (IAS 18) The effects of changes in foreign exchange rates (IAS 21) Employee benefits (IAS 19) Borrowing Cost (IAS 23) Accounting for government grants (IAS 20) Income taxes/ current tax/ deferred tax (IAS 12) Discontinuing operations (IFRS 5) Earnings per share (IAS 33)    Module 3: Balance Sheet   Property plant and equipment (IAS 16) Investment property (IAS 40) .

We are issuing this reminder to ensure that you won’t miss them. contingent liabilities and contingent assets (IAS 37) Module 4: Statement of Cash Flow Accounting for Groups and Investments      Business Combinations (IFRS 3) Consolidated and separate financial statements (IAS 27) Accounting for investments in associate (IAS 28) Financial reporting of interests in joint ventures (IAS 31) Operating Segments / Segments reporting (IFRS 8) Reminders on 2011 start of the year tax requirements There are a number of information returns and other compliance requirements for taxpayers in the first 30 days or so of every year.      Intangible Assets (IAS 38) Impairment of assets (IAS 36) Inventories /Stock (IAS 2) Constructions contracts / Long term WIP (IAS 11) Leases – off balance sheet finance (IAS 17) Provisions. 1. There are penalties imposed on non-compliance. Annual Information Return of Income Taxes Withheld on Compensation (BIR Form 1604-CF) .

In such case.4) is already available which can be dowloaded in the BIR website to comply with the BIR file formats. together with the manually prepared alphalist. regardless of the number of their employees. 3. there is no need to re-register or re-stamp provided portions pertaining to a particular year should be labeled or marked by the taxpayer. . Registration of manual books of accounts Registration of manual books of accounts is required before said books are used. For employees who do not qualify for substituted filing such as those with concurrent or successive employer during TY 2010. 2011 together with the Alphabetical List (Alphalist) of Employees. 2011. Employers with less than 10 employees should prepare and submit the alphalist in hard copy while those with 10 or more employees should submit the alphalist in soft copy using 3. BIR Form 2316 should be attached to the ITR that the employee will file on April 15.5-inch floppy diskette. the certification at the bottom should not be signed by both the employer and employee. However. EFPS filers are required to submit the alphalist in soft copy. Registration of new set of manual of books of accounts shall be at the time when all pages have been exhausted. Employees’ Withholding Statements (BIR Form 2316) BIR Form 2316 for TY 2010 should be issued on or before January 31. 2. if manual books of accounts is previously registered and the pages are not yet fully exhausted. thru e-submission/e-attachment. 2011 to all employees.BIR Form 1604CF should be submitted on or before January 31. including those who qualify as minimum wage earners (MWE). A new data entry and validation module (version 3. as required by some RDOs.

2011. 2011.000 This is required to be submitted on a semestral basis by Top 20. 2010 is on January 30. List of regular suppliers for Top 20. Loose-leaf books of accounts The deadline for submission of loose-leaf bound books of accounts for taxable year ending December 31. or other optical media for CY ending December 31.000 corporations covering their purchases of goods and services from all their regular local/resident suppliers as well as non-regular . 6. Submission of books of accounts This includes submission of computerized books of accounts and permanently bound computer generated/loose leaf books of accounts. Inventory list The annual inventory list for taxpayers whose accounting period ended on December 31.4. 5. 2010 should be submitted on January 30. 2010 is on January 15. A. DVD-R. Computerized books of accounts The submission deadline for computerized books of accounts and other accounting records in CD-R. 2011 B.

Annual registration fee The P500 annual registration fee should be paid on or before January 31. . mayor’s permit fee.000. 2011. 8. BIR Form 0605 should be e-filed and e-paid. The LBT may be paid in installment within the first 20 days of each quarter. 2011 using BIR Form 0605 at the authorized agent bank (AAB) within the RDO where the business or branch is registered. 2011. 20% interest and P200 penalty. 7. Renewal of LGU registration This covers payment of local business tax (LBT). Late payment of registration fee is subject to 25% surcharge. and other fees and charges imposed b y LGUs. For eFPS taxpayers. The deadline for the list for the second semester of TY 2010 is February 01.suppliers for single purchases of P10. Due date is January 20.