Being a student opens a lot of opportunities in life.

Living in the Philippines, we have every right to choose

what we want to do with our life. Choosing our friends, socializing with people, going to college, choosing
a program, etc. – we can have it our way. A lot of students nowadays are choosing Accountancy as their
program in universities. There are many privileges in this program since money is associated. We get
knowledge of how money works in every business firms in the world.

This is not an easy program. In fact, it is one of the most challenging one in the world, but the real
challenge is finishing the now 5-year program and passing the CPA Board Exam. It is just not enough to
graduate with a degree of Bachelor of Science in Accountancy. As the society demands, those who
graduated BS Accountancy must first take up the Board Exam to see if they are really qualified with the job
of an accountant. If you pass the Licensure Exam, you will now be called Certified Public Accountant.
Passing the exam requires a minimum of seventy-five percent examination rate and will be entitled to
registration as Certified Public Accountant provided that every subject does not have a rating of less than
sixty-five percent. There are no more requirements to fulfill after you passed the exam. After graduating
and passing the Licensure Exam, CPA’s will have to practice their profession for at least three years before
they become Registered Certified Public Accountant.

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Working in the industry with low starting income is normal for beginners, but as time passes by, there is a
chance for the increase in salary and income if you worked hard in your job. Attending seminars is also
helpful since it helps you gain more knowledge which you haven’t acquired yet when you were still
studying your program, like money and many topics involving the use of it in the industry. Those people
who did not pass the Board Exam of course will not be released a license.

Sometimes, they get underemployed or worse, unemployed although some still try to review and take
again the next scheduled Board Exam. Those who failed after 2 CPA Board Examination will not be given
chance to take again the exam, except if the registrant has proven that he has already taken and
completed 24 units in the subjects included in the exam. This research aims to compare the differences
between the board passers and non-passers in terms of benefits and privileges since every firm demands a
passer and also a non-passer in their accounting department.

We aim to understand and differentiate the two also because they have designated jobs in the society
while other programs cannot have a job if they did not pass the board exam. The employment privileges is
one of the reasons why accounting students take up this program, so if they did not pass the test, all their
efforts in studying accountancy for five years will be wasted, right? Accountancy is one of the most
challenging programs that exist. Those students who take up this program must have a high and clear
knowledge of what the program really is.

According to the Statement of Financial Accounting Standards (SFAS) No. 1 of the Accounting Standards
Council, “Accounting is a service activity. Its function is to provide quantitative information, primarily
financial in nature, about economic entities, that is intended to be useful in economic decisions. ” The
above statement clearly tells us that accountancy is not just about money and manipulating it. Accounting
is also useful in the economic aspect of every business firms and that every firm must have someone who
specializes in the field of accountancy.

It could help them solve problems that might arise in terms of financial and economic aspects. It would
take a great deal of hard work and perseverance to master this program. However, a lot of students mostly
underestimate the real meaning and purpose of this program. Students think that accountancy is all about
basic addition and subtraction. In reality, accountancy is not just about memorization of formulas – it is
about the analysis of the problem. There are also students who think that because of the high demand of
accountancy graduates, the program is easy.
We must always bear in mind that there is never an easy program for every student in the world to take.
Some students perceive accountancy as having knowledge of how money works in people’s lives and in
business firms. Globally, the use of money is quite a complicated task and that is what makes it interesting
for people to learn. We become mesmerized by the amazing process of the manipulation of money in
every business around the world, but money is simply not an easy job to learn – it is a complex system.

We need to pay attention to its complex system and how it really works. According to the American
Institute of Certified Public Accountants through its Committee on Accounting Terminology, “Accounting is
the art of recording, classifying and summarizing in a significant manner and in terms of money,
transactions and events which are in part at least of a financial character, and interpreting the results
thereof. ” An accountant’s job is to record, classify, and summarize transactions of business firms and
interpret its results to know how much the firm earns.

They are also responsible for the flow of money in firms and where the money is used, for example in
every international trips of the manager, in charities that they support, in payrolls, in projects that they
conduct to improve their business, in their withdrawals, in their debts, in every liabilities that they acquire,
etc. Every business firm in the world wants to earn more income and have lesser accounts payable. It is an
accountant’s job to make sure that businesses do not acquire many debts but still, they need to gain more
profit from people.

Statement of the Problem This study aims to compare the Differences between CPA Board Passers and
Non-Passers in Terms of Benefits and Privileges. Specifically it sought answers to the following questions:
1. What are the possible jobs of CPA board passers and non-passers? 2. What is the employment rate of
the graduates? Significance of the Study The result of this study is a great help to the following personnel:
College Students. This study helps the students taking up the program Accountancy because it can serve
as their guideline on preparing themselves in Board Exams.

Students will be encouraged to study and review harder. Graduates Who Passed The Board Exam. This
study will help them know the benefits that they would acquire after passing the exam. Being a CPA, you
have the ability to start your own business and have a great salary. There are lots of opportunities to those
who passed the CPA Board Exam. Non-profit organizations are looking for the qualified CPA’s on their
board. Graduates Who Failed To Pass The Board Exam. This study will help them to be inspired to take
again the board exam for the second time, and make sure that they will pass.

It can also help them to be prepared in taking up the board exam. Teachers And Professors. This study can
help them prepare themselves to teach the future accountants. They will focus on their teaching qualities.
Future Researchers. The result of this study can be a benefit to other researchers who will conduct a study
related to this comparative research. Scope and Delimitation This study aims to compare the differences
between CPA Board passers and Non-passers in terms of Benefits and Privileges. The study will be
conducted at Our Lady of Fatima University Antipolo City during the S.Y. 2013-2014.

The school is located at Km. 23 Sumulong Highway Brgy. Sta Cruz, Antipolo City. The respondents of this
study are random Accountancy Graduates in the Philippines who have taken up the board exam. This
study utilized the comparative method in order to find out the output that will serve as a guideline to all
students who are planning to take the board exam. However, the study limits only to those respondents
who are in this profession in order to determine the differences between board passers and non-passers.
Materials and Methods

This research utilizes a comparative method since it aims to compare and know the difference between
board passers and non-passers. This method is defined as a method of investigation based on comparison
between two objects or problems. Information in this study came from various materials such as books,
articles, and online resources. Aside from that, we also consulted people who have already an experience
working in the field of accountancy. Definition of Terms The following terms are conceptually and
operationally defined for common point of understanding and for guidance of the readers.

Program – It refers to the course taken up in a university or college Underemployed – It refers to people
who graduated with a specific degree but is not working under their field of profession Unemployed – It
refers to people who graduated but do not have a job Money – It is an instrument used by people to
transact with one another; it has a value depending on the amount Benefits – Things or objects that you
get for doing or acquiring a certain thing that is assigned to you Sex – It refers to the gender, whether the
person is a male or female Passing rate – It refers to the percentage of the people who passed the exam
Employment rate – It refers to the percentage of the people who are employed in this field