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NATIONAL FEDERATION OF JUNIOR PHILIPPINE INSTITUTE OF ACCOUNTANTS

REGION 02
Federation Year 2019-2020

IMPLEMENTING RULES AND REGULATIONS


Academic Events

REGIONAL MIDYEAR CONVENTION 2019


Cagayan State University – Andrews Campus
Tuguegarao City, Cagayan
November 8, 9 and 10, 2019
REGIONAL MIDYEAR CONVENTION 2019
Academic Events

I. For First Year Level

Basic Accounting Quiz


Conceptual Framework & Accounting Standards Quiz Level 1

II. For First Year / Second Year Level

General Information Quiz


Bible Quiz
Finance & Economics Quiz

III. For Second Year Level

Partnership & Corporation Accounting Quiz


Intermediate Accounting Quiz Level 2

IV. For Second Year / Third Year Level

Conceptual Framework & Accounting Standards Quiz Level 2


Taxation Quiz Level 1
Business Law Quiz Level 1

V. For Fourth Year / Fifth Year Level

Intermediate Financial Accounting & Reporting Quiz


Advanced Financial Accounting & Reporting Quiz
Taxation Quiz
Regulatory Framework for Business Transactions Quiz
Management Advisory Services Quiz
Auditing Quiz
The 11th ARTHUR SONDAY III Cup

VI. For Chapter Presidents

Presidents’ Cup
REGIONAL MIDYEAR CONVENTION 2019
Academic Events

A. GENERAL RULE ON QUALIFICATIONS

All participants must be bona fide members of the National Federation of Junior Philippine Institute of
Accountants (NFJPIA) Region-02 as certified by the Regional Vice-President for Membership and
Regional Vice-President for Finance, and duly registered participants of the Regional Midyear
Convention 2019.

B. SPECIFIC RULES ON QUALIFICATIONS

1. Only students in the first-year level are allowed to participate in the following:

 Basic Accounting Quiz


 Conceptual Framework & Accounting Standards Quiz (Level 1)

2. Only students in the first-year level or second year-level are allowed to participate in the following:

 General Information Quiz


 Bible Quiz
 Finance & Economics Quiz

3. Only students in the second-year level are allowed to participate in the following:

 Partnership & Corporation Accounting Quiz


 Intermediate Accounting Quiz (Level 2)

4. Only students in the second-year level or third year-level are allowed to participate in the following:

 Conceptual Framework & Accounting Standards Quiz (Level 2)


 Taxation Quiz (Level 1)
 Business Law Quiz (Level 1)

5. Only students in the fourth-year level or fifth year-level are allowed to participate in the following:

 Intermediate Financial Accounting & Reporting Quiz


 Advanced Financial Accounting & Reporting Quiz
 Taxation Quiz
 Regulatory Framework for Business Transactions Quiz
 Management Advisory Services Quiz
 Auditing Quiz
 The 11th ARTHUR SONDAY III Cup

6. Only chapter presidents are allowed to participate in the:

 Presidents’ Cup
C. CONTEST RULES & REGULATIONS

1. Number of Participants

 Each participating school/chapter is allowed to send in a maximum of three (3) participants in


each of the academic quizzes, except in the Presidents’ Cup and in The 11th Arthur Sonday III
Cup.

 Only the chapter president is allowed to participate in the Presidents’ Cup.

 Each participating school/chapter is allowed to send in one (1) team of two (2) members in The
11th Arthur Sonday III Cup.

2. Number of Items / Pointing System / Time Allotment

 Each academic quiz, except for The 11th Arthur Sonday III Cup, consists of twenty (20) questions.
Ten (10) for easy, five (5) for average and five (5) for difficult. Each question has the following
equivalent points – four (4) points for easy, five (5) points for average and seven (7) points for
difficult. Participants will be given ten (10) seconds and sixty (60) seconds to answer theory and
problem-solving questions, respectively.

 The 11th Arthur Sonday III Cup shall consist of forty (40) questions. Twenty (20) for easy, ten (10)
for average and ten (10) for difficult. Each question has the following equivalent point(s) – one (1)
point for easy, three (3) points for average and five (5) points for difficult. Participants will be given
ten (10) seconds and sixty (60) seconds to answer theory and problem-solving questions,
respectively.

3. Scope/Coverage of Accounting Quizzes

 Basic Accounting Quiz – all topics in the course Financial Accounting & Reporting, except
topics on partnership and corporation accounting.

 CFAS Quiz Level 1 –

 Partnership & Corporation Accounting Quiz – all topics in the course Financial Accounting
& Reporting that deals specifically with partnership and corporation accounting.

 CFAS Quiz Level 2 –

 Intermediate Accounting Quiz Level 2 – all topics in the courses Intermediate Accounting
1 and Intermediate Accounting 2, except topics on shareholders equity.

 Taxation Quiz Level 1 – all topics in Philippine Income Taxation.

 Business Law Quiz Level 1 – all topics on Laws on Obligations & Contracts

 Intermediate Financial Accounting & Reporting Quiz – all topics covered by the CPA
licensure examination syllabus on FAR.

 Advanced Financial Accounting & Reporting Quiz – all topics covered by the CPA licensure
examination syllabus on AFAR.

 Taxation Quiz – all topics covered by the CPA licensure examination syllabus on Taxation.
 Regulatory Framework for Business Transactions Quiz – all topics covered by the CPA
licensure examination syllabus on RFBT.

 Management Advisory Services Quiz – all topics covered by the CPA licensure
examination syllabus on MAS.

 Auditing Quiz – all topics covered by the CPA licensure examination syllabus on Auditing.

 The 11th Arthur Sonday III Cup – all topics covered by the CPA licensure examination
syllabus on FAR, AFAR, Taxation, RFBT, MAS and Auditing, plus topics on Organization
and Management, Finance and Economics, and Current Affairs.

 Presidents’ Cup – all topics covered by the CPA licensure examination syllabus on FAR,
AFAR, Taxation, RFBT, MAS and Auditing.

4. Contest Proper

 Participants are advised to be at the designated place/venue fifteen (15) minutes before the
time scheduled. Late participants are still allowed to participate; however, the participants will
be disqualified for the questions they had missed.

 Participants must be in business casual attire.

 Participants will be provided a copy of the questions. The quizmaster will read each question
once. The timer starts after the quizmaster says “Go”.

 Calculators (non-programmable) are allowed and flash cards provided for the contest will be
used.

 Clarifications regarding a particular question/problem must be addressed to the quizmaster


before the quizmaster starts reading the next question. Only participants are allowed to raise
the clarifications.

 Any person found coaching will be forced to leave the venue. Participants caught cheating will
be disqualified. The quizmaster shall have the absolute control over the conduct of the quiz.

 All points will be accumulated in all three (3) categories. The participants garnering the top
three (3) highest scores will be declared as First Placer, Second Placer, and Third Placer,
respectively. In case of tie, clincher question(s) will be drawn.

 In determining the Champion in the Team Category of the individual quizzes, the
school/chapter garnering the highest total accumulated scores of its three (3) participants shall
be declared as Champions.

D. Confirmation of Participation and Submission of Documentary Requirements

 A school/chapter must submit the official list of participants in all academic events on or before
October 28, 2019 through the Regional President. This is to provide ample time for verification
and validation by the Regional Vice President for Membership and Regional Vice President for
Finance.

 Hard copy of registration/enrolment form for the first semester of the current academic year,
duly validated school identification card and other documentary requirements must be
submitted in the morning of November 8, 2019 of the Regional Midyear Convention 2019 to
the Regional Vice President for Academics for verification and validation.

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