Batch 5 (MAY 2023) MONTHLY ASSESSMENT COVERAGE

AP Single Entry System

Accounting Changes and Error Correction

SHE

Share-based payments

MAS Basic Considerations

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Cost behavior and CVP

Standard Costing

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FAR Introduction to Accountancy Profession and Preface to PFRS
OCTOBER

Conceptual Framework for Financial Reporting

Cash and Cash Equivalents

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Trade and Other Receivables

Inventories
PA
Biological Assets

AT Practice and Regulation of the Accountancy Profession

Code of Ethics for Professional Accountants in the Philippines

C

Fundamentals of Assurance Services

Introduction to Auditing
EO

RFBT Law on Obligations

Law on Contracts

Law on Sales
R

TAX Create Law Updates

Fundamental Principles of Taxation

Taxes, Tax laws and Tax Administration

AFAR Partnership Formation

 Partnership Operation
Partnership Dissolution

Partnership Liquidation
Corporate Liquidation

AP Cash and Cash Equivalents

Trade and Other Receivables

Inventories and Biological Assets

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Investment in Equity Securities and Associates

MAS Variable and Absorption

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Budgeting

Pricing

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NOVEMBER

Relevant Costing

FAR Property, Plant and Equipment (PART 1)

R
Property, Plant and Equipment (PART 2)

Government Grant
PA
Borrowing Costs

Wasting Assets and Depletion

Intangible Assets
C

AT Preliminary Engagement Activites

Audit Planning
EO

Study and Evaluation of Internal Control

Auditing in an IT Environment

RFBT Consumer Protection and Lemon Law

R

Law on Partnership

Law on Corporations

TAX Fundamentals of Income Taxation

Final Income tax

Capital Gains Taxation

 Regular Income Taxation

AFAR Revenue Recognition (PFRS 15)

Revenue Recognition (Appendix: SME and Others)

Decentralized Operation

Business Combination

AP Investment in Debt Securities

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Notes and Bonds Payable

Property, Plant and Equipment, Govt. Grant, BC Wasting assets)

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Intangible Assets

MAS Capital budgeting

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FS Analysis

FAR Impairment of Assets

R DECEMBER

R
Investment in Equity Securities

Investment in Associates
PA
Investment in Debt Securities

Investment Properties

Funds and Other Investments

C

Current Liabilities

Notes & Loan Payable

EO

Bonds Payable

Compound Financial Instrument

Provisions

Employee Benefits

Income taxes

Leases

SHE Part 1

SHE Part 2
 AT Business Processes (Transaction Cycles)

Fraud, Error, and Non-compliance

Evidence and Performance of Substantive Testing

RFBT Law on Cooperatives

Bouncing Checks and Credit Transactions

TAX Compensation Income

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Fringe Benefits & Dealings in Properties

Principles of Deductions

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Itemized Deductions

AFAR Separate and Consolidated FS (1/2)

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Separate and Consolidated FS (2/2)

Joint Arrangements

AP Investment Properties R
Revaluation and Impairment of Assets
PA
Current Liabilities

Income taxes
JANUARY

MAS Performance Evaluation

C

Financial Markets

Working capital management

EO

FAR Book Value per Share

Earnings per Share

Financial Statements Part 1

R

Financial Statements Part 2

Statement of Cash Flows

Operating Segments

NCAHFS and Discontinued Operations

AT Approaches of Gathering Evidence and Audit Sampling

 Completing the Audit

Audit Documentation and Communication with TCWG

RFBT FRIA

Philippine Competition Act and Government Procurement Law

Insurance

TAX Optional Standard Deductions

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Individual Income Taxation

Corporate Income Taxation

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Transfer Taxation - Estate Tax

AFAR Forex and Hyperinflation

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Derivatives and Hedge Accounting

Not-for-Profit Organization

AP Employee Benefits
R
Government Accounting
PA
Statement of Cash Flows

Financial Statements

Leases
C
MARCH

MAS Short-term financing

Long-term financing
EO

Risk and Leverage

Quantitative techniques

Economics
R

FAR Events after Reporting Period

Related Parties

Interim Financial Reporting

Accounting Changes and Error Correction

Cash to Acrrual Basis

 Accounting Process

SMEs

AT System of Quality Control

Audit Reporting (General-Purpose FS)

Other Reporting Responsibilities

RFBT PDIC and Secrecy of Bank Deposits

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Truth in Lending Act and AMLA

Intellectual Property and Data Privacy

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Ease of Doing Business and E-Commerce

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Labor Law

Social Security Law

TAX Transfer Taxation - Donor's Tax

R
Intro to Consumption Tax & VAT on Importation

Intro to Business Taxation & Specific Percentage Tax

PA
Value Added Tax

Excise Tax & DST

Tax Remedies
C

Local Taxation & Preferential Taxation

AFAR Job Order Costing

EO

Process Costing

Backflush & Activity-Based Costing

Joint and By-Products & Service Cost Allocation

R

Service Concession Arrangement & Insurance Contracts

NOTE:

We highly encourage you to take the monthly assessments on its schedule even if you can take it
anytime.
This will be in the preboard/assessment icon in the app which will soon be visible once the assessment
has started.

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