Name: Danilo Q. Diniay Jr.

Course/Year: BSA-2

Assignment

16). Profile the founders and current leaders of your school so as to draw inspirations from their
experience. Let’s not forget them.
Ans: I don’t know the answer sir.

17). What constitutes the practice of accountancy in the Philippines?

Ans: REBULIC ACT NO. 9298 – An acc regulating the practice of accountancy in the Philippines,
Repealing for the purpose presidential decree NO. 692, Otherwise kwon as the revised accountancy
law, Appropriating funds therefor and for other purposes.

18). State the qualifications of members of the Professional Regulatory Board.

Ans: Under the Commission are the forty-three (43) Professional Regulatory Boards which exercise
administrative, quasi-legislative, and quasi-judicial powers over their respective professions. The 43
PRBs which were created by separate enabling laws, perform these functions subject to review and
approval by the Commission:
 Prepare the contents of licensure examinations. Determine, prescribe, and revise the course
requirements
 Recommend measures necessary for advancement in their fields
 Visit / inspect schools and establishments for feedback
 Adopt and enforce a Code of ethics for the practice of their respective professions
 Administer oaths and issue Certificate of Registration
 Investigate violations of set professional standards and adjudicate administrative and other
cases against erring registrants
 Suspend, revoke, or reissue Certificate of Registration for causes provided by law

19). State the qualifications of applicants for the CPA examination

Ans: To qualify to become a candidate sit for the Uniform CPA Examination, applicants must
satisfactorily complete 120 semester hours or 180 undergraduate quarter hours or the equivalent.
Thirty (30) semester hours or 45 quarter credit hours in Group I, which requires 27 semester or 41
quarter credit hours, must be in accounting and related subjects, and three semester credit hours
or 4.5 quarter credit hours must be in ethics. An applicant must have received baccalaureate or
higher degree that meets the following requirement: a major in accounting on the baccalaureate level,
or its substantial equivalent, from an institution that is a member of the Association to Advance
Collegiate Schools of Business or the Accreditation Council for Business Schools and Programs, is
accredited by or is a constituent of an institution accredited by the Middle States Association of
Colleges and Schools or the equivalent regional accrediting association for other regional areas, or is
recognized and approved by the Board.
Further, to qualify to obtain a license as a certified public accountant, an applicant must have
completed a total of 150 semester credit hours or 225 quarter credit hours of education and complete
the requirements of Group II Business-related education as described below.

GROUP I - Accounting and Ethics Education

An applicant must have successfully completed 30 undergraduate semester hours or 45

undergraduate quarter hours in accounting and ethics subject matter. Applicants must have
completed the following: one three semester credit hour course or a four and one half (4.5) quarter
hour course each in; auditing, cost accounting or managerial accounting, U.S. federal income tax and
ethics; a minimum of nine semester or 13.5 quarter hour credits in financial accounting; and a
minimum of nine semester or 13.5 quarter hour credits in elective accounting courses.

GROUP II - Business-Related Education

Courses from the list of subjects in the document below must be completed to meet the business-
related educational requirements to qualify for a license. At least 21 undergraduate semester hours
or 31.5 quarter credit hours must be completed in at least in five of nine subject areas. These subject
areas are: statistics, economics, corporation or business finance, management, marketing, U.S.
business law, business communication, quantitative methods, and computer science/information
systems.

20). What are the distinguishing characteristics of a profession?

Ans: 1. An Advanced/Recognized Education Experience

Every individual who chooses to study a profession must have the burning desire within themselves
to pursue an education. The bedrock of respect that underlies the profession is dependent on a vital
culture of exploration and design thought within the academy. The complexity of our time, the
increasing complexity of our tools, and the rising expectations for professional service demand a rich,
measured education experience. It is true that there are many alternate sources of knowledge to
inform an individual. However, what is necessary is the intensely personal experience of an
architectural education that has itself been rigorously assessed by a diverse group of peers from
education, practice, and the public sector.

2. A Proper, Rigorous Internship Experience

There is much in practice that simply cannot be simulated or mimicked in the academy. The logistics
surrounding a major project are staggering when taken out of the context of a highly qualified
professional team. A rigorous learning experience within the structure of an office allows for the
continuum of academy to practice to flourish. IPAL gives greater exposure to professional preparation
through additional coursework that matches in-office experience. It stimulates the motivated student
to complete curricular work and address the licensing exam years ahead of the present average.
Because of the shadowing and internship experiences, partnerships between offices and schools are
increasing, further enhancing the desired goal of bringing the academy and practice closer along the
continuum.

3. The Accomplishment of Licensure Along with a Responsibility for Continuing

Lifelong Learning
Many years ago, as a recent graduate, I wondered about the value of licensure. I was convinced that
I could operate outside of the system. I soon learned that licensure was actually liberating. It was a
capstone achievement that validated my education and it forced me to sum up my experience in
practice. It became clear to me that it defined me and validated me as a professional with real
responsibilities for the health, safety and welfare of people. It became my proof of the value of my
work to the public. Because the process toward licensure is a milestone that ultimately validates the
education and practice of the individual, both the academy and the office must take responsibility for
mentoring and guiding the individual to licensure.

4. Voluntary Membership in a Professional Association Along with the Voluntary

Acceptance of a Code of Ethics

Voluntary membership in a professional association opens opportunities to identify and interact with
like-minded peers. This is a tradition that extends well into Western history through a system of guilds
and clubs. Knowledge communities work to advance the body of information available to the
profession through the sharing experiences, related scholarship and case studies from practice.

As important as voluntary membership in a professional association is, it is equally important to

commit to the voluntary acceptance of a related code of ethics. The ethical conduct of the profession
is dependent on the personal commitment of every member to a shared system of beliefs and implies
that buildings will have a powerful consistency focused on human-centered design.

5. The Commitment to Pro Bono Activity Even as it May Lead to New Forms of
Professional Activity

Truly, one of the most important aspects of a professional life is the understanding of the necessity of
a commitment to the less fortunate of our society. As architectural professionals, we are more than
architects. We are citizen architects and designers. It is activity that broadens our understanding of
the world while we see to the quality of life, the public welfare, of even the most underserved among
us. I believe that giving returns ten-fold to the profession. It increases our value to society because
we have first demonstrated our value. It moves us to think beyond traditional roles for our critical and
creative abilities. Our commitment beyond ourselves calls upon our better nature.

The common ingredient among each of the five marks of a professional is the unyielding commitment
to raising the standards of the profession. This must be our shared commitment irrespective of the
perspective we bring to this discussion. It will be foundation of the respect we have for each other and
it will give us reason to trust each other.

21). What is the essence of a competency-based approach to education? What are the core
competencies for accountants? Expound.
Ans: Competence is a person’s ability to practice the knowledge acquired over time. Competency is
measurable as you can compare the skills and knowledge of two or more individuals based on their
performance on a specific job.
Being competent means you don’t only have the knowledge to perform a task, but likewise possess
the skills to provide solutions that matter to real-life problems.
Competency-based learning is a learning approach where learners move from one learning level to a
higher one based on their demonstration of knowledge rather than based on time spent on a specific
course.
This learning approach ensures that learners learn at their pace and focus more on mastery of
knowledge and valuable skills.

Core competencies are specific business abilities used to create a competitive advantage in the
business environment. A competitive advantage is the ability to complete business functions,
produce customer products or provide more value to consumers better than other companies. The
accounting industry often contains several core competencies small businesses can establish in
their company. Small business owners can also learn a few accounting core competencies to
enhance their understanding of financial information in the business environment.

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