IMPLEMENTING RULES AND REGULATIONS

(IRR)
IN THE CONDUCT OF
LEDESMA CUP 2018

Version Revised by: Approved Noted by: Date

by:
2011-12.1 Therenzy Anne Floriza Poblete Mr. Ronaldo December, 2011
Cabrera Quiambao
2012-13.1 Therenzy Anne - Mr. Aquilino December 2012
Cabrera Soriano Jr.
2013-14.1 Lovely April - Mr. Aquilino December, 2013
Salazar Soriano Jr.
2014-15.1 Anjanette - Mr. Aquilino December 2014
Jimenez Soriano Jr.
2015-16.1 Jimemah Mae - Mr. Ronaldo December 2015
Lugue Quiambao
2016-17.1 Patricia Lyre Aika Balgos Mr. Ronaldo December 2016
Miranda Quiambao
2017-18.1 Patricia Lyre - Mr. Ronaldo December 2017
Miranda Quiambao
 Table of Contents

Qualification and Requirements 3

Contest Rules and Mechanics 4
Manner of Reading and Answering the Questions 4
Ruling on Contestant’s Answers 5
Categories and Time Allotments 6
Queries, Clarifications, Questions, and/or Protests 6
Offenses 6
Cases Where Tiebreaker Round Shall Take Place 7
Declaration of Winners 7
QUALIFICATIONS AND REQUIREMENTS:

 Must be a bona fide NFJPIA member.

 Duly accredited Local Chapters in the National Capital Region are the only
organizations who are allowed to join.
 Should be a 3rd year to 4th year student of a 4-year course or 4th year to
5th year student of a 5-year course or at least should have finished the
subject.
 Each local chapter may send one participant for each level.
 Fully accomplished registration form with 2 x 2 picture, preferably white
background and in corporate attire. (hard and soft copy)
 JPIA logo* (softcopy)
 ID (softcopy)
 Endorsement letter by their respective presidents (hard and softcopy)
 Change of contestant representing a local chapter shall be allowed during
the day of the competition provided that they would submit all pertinent
hard copy requirements during the registration phase of the event. Failure
to do so will disqualify the said contestant from joining the particular level.

All the aforementioned enumerated requirements should be submitted to

sscjpia.eb@gmail.com on or before February 27, 2018. The delegate should write
Ledesma Cup, full name and complete school name as a filename and as a subject
of the message (e.g. Ledesma Cup – Patricia Lyre G. Miranda - St. Scholastica’s
College, Manila). In case of more than one delegate per school, the delegates
should submit the requirements INDIVIDUALLY.
CONTEST RULES AND MECHANICS

1. This contest is open for the local chapter members of the National
Federation of Junior Philippine Institute of Accountants- National Capital
Region during the Federation Year 2017-2018.
2. Each local chapter shall send one (1) participant for each level of the
contest. Each must have the following requirements on or before: February
27, 2018.
3. All contestants must be at the Barrion Hall, fifteen (15) minutes before the
contest starts. Late comers will still be accommodated. However, he/ she
shall no longer be allowed to answer the questions he/she have missed.
4. The contest shall have three levels namely:

Level Subjects
1 Financial Accounting and Reporting and Auditing
2 Advance Financial Accounting and Reporting and
Management Advisory Services
3 Regulatory Framework for Business Transactions and
Taxation

MANNER OF READING AND ANSWERING THE QUESTIONS

1. The quizmaster shall read each question once.

2. The contestants will be provided with a copy of the questions. The
contestants shall start reading the question only when the quizmaster
started reading the same. The contestants shall start answering the
question and manipulating the calculator only when the quizmaster says
“Go!”
3. Before the time allotted for each question lapsed, the contestant should
have written his/her answer on his/her answer board. When the bell rings
signaling the lapse of time allotted, the contestant should stop answering
and must raise his/her answer board right after the quizmaster had asked
for it. Otherwise, his/her answer will be forfeited.
 4. The contestants should raise their answer boards upon hearing the buzzer
signaling that the time is up. Failure to do so, three (3) seconds after the
buzzer will disqualify the contestant for that particular question and will not
be given any points even if the contestant’s answer is correct.
5. Contestants may neither glance nor talk to their seatmates during the
contest proper.
6. Protests shall be raised to the panel of judges before the next question is
read. Otherwise, it will not be entertained.

RULING ON CONTESTANT’S ANSWERS

1. The contestants should write their answers clearly and legibly on the
provided answer boards.
2. The contestants are allowed to use the following abbreviations;

T and F for True or False

U and F for Unfavorable or Favorable
Dr and Cr for Debit and Credit
A/B/C/D for multiple choice
PERT CPM for Program Evaluation Review Technique/Critical Path Method
BOA for Board of Accountancy
CPA for Certified Public Accountant
PICPA for Philippine Institute of Certified Public Accountants
AR for Accounts Receivable
AP for Accounts Payable
PPE for Property Plant and Equipment
TS for Trading Securities
SHE for Shareholders’ Equity
RE for Retained Earnings

3. Other abbreviations not specifically written in this IRR are highly

discouraged to be used.
4. For questions requiring computations, only final answers shall be rounded
off to the nearest hundredths.
 5. Contestants who shall insist in writing the answers ambiguously,
abbreviated or illegibly may still claim points for correct answers only upon
the discretion of the panel of judges.

CATEGORIES AND TIME ALLOTMENTS

Easy Round Moderate Difficult Round

Round
Time Allotment 15 seconds 15 seconds 15 seconds
(Theory)
Time Allotment 30 seconds 45 seconds 60 seconds
(Problems)
Total number of items 10 questions 10 questions 10 questions
per round
Points per correct 2 points 3 points 5 points
answer

Queries, Clarifications, Questions, and/or Protests

1. After the final answer has been announced by the quizmaster to the
contestants, the quizmaster may entertain protests and questions.
2. Only the contestants are allowed to raise queries, clarifications, questions
and/or protests.
3. All queries, clarifications, questions and/or protests shall be addressed to
the panel of judges. The decision of the panel of judges is final and
irrevocable.
4. Once the next question has been distributed, queries, clarifications,
questions and/or protests will not be entertained.

Offenses

1. Failure to follow the instructions will merit the contestant a warning.

2. A maximum of two (2) warnings will be given to each contestant.
 3. A third violation automatically disqualifies the said contestant from the
competition.
4. An officer from the Junior Philippine Institute of Accountants – St.
Scholastica’s College-Manila will be in-charged for monitoring the said
offenses. Their decision shall be binding and irrevocable.

Cases Where Tiebreaker Round Shall Take Place

1. In case of a tie, clincher questions will be given until the deadlock is broken.
2. Whoever gets the right answer and raises his answer board first shall be the
winner.
3. Clincher round questions shall have no bearing on the cumulative scores of
the contestants.

Declaration of Winners

1. The computation of scores will be cumulative, from the easy round to

difficult round.
2. The three (3) contestants garnering the top three highest accumulated
scores shall be declared as the winners.
3. After the each level, there will be deliberation of scores and the Top Three
contestants with the highest accumulated scores will provide their
respective chapters a chance to secure this year’s cup.
4. Each winning local chapter per level shall receive the equivalent points to
help them secure the cup.

Rank Equivalent
Points
1st 15
2nd 10
3rd 5

5. The local chapter with the highest accumulated scores from each level shall
be entitled of the Ledesma Cup.
6. In case of tie in the total number of points, the school, which represented
in most of the levels in Ledesma Cup 2018, will get the title. The school,
which will not be chosen to receive the supposedly title, will be granted the
lower rank.
7. Only the Ledesma Cup 2018 team has the sole authority to interpret rules
and regulations when deemed necessary.