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  • Fund Accounting

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    Cindy The Goddess
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    The document discusses different types of accounting and the professional regulatory bodies that govern the accounting profession in the Philippines. It outlines eight types of accounting, including financial accounting, management accounting, cost accounting, tax accounting, and forensic accounting. It also describes the key regulatory organizations, such as the Professional Regulatory Commission (PRC) which regulates licensing, and the Board of Accountancy (BOA) which sets professional standards and ethics. The Philippine Accountancy Act of 2004 establishes the objectives and requirements to practice as a Certified Public Accountant in the Philippines.

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    Funds of accounting

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    The document discusses different types of accounting and the professional regulatory bodies that govern the accounting profession in the Philippines. It outlines eight types of accounting, including financial accounting, management accounting, cost accounting, tax accounting, and forensic accounting. It also describes the key regulatory organizations, such as the Professional Regulatory Commission (PRC) which regulates licensing, and the Board of Accountancy (BOA) which sets professional standards and ethics. The Philippine Accountancy Act of 2004 establishes the objectives and requirements to practice as a Certified Public Accountant in the Philippines.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    3 views1 page

    Fund Accounting

    Uploaded by

    Cindy The Goddess
    The document discusses different types of accounting and the professional regulatory bodies that govern the accounting profession in the Philippines. It outlines eight types of accounting, including financial accounting, management accounting, cost accounting, tax accounting, and forensic accounting. It also describes the key regulatory organizations, such as the Professional Regulatory Commission (PRC) which regulates licensing, and the Board of Accountancy (BOA) which sets professional standards and ethics. The Philippine Accountancy Act of 2004 establishes the objectives and requirements to practice as a Certified Public Accountant in the Philippines.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    -uses Fund Accounting-deals with the administration or use of publiccommunity funds-more

    on how the funds are used to servicethe people rather than to earn profit7. Tax
    Accounting-deals with tax matters affecting firms such aspartnership & corporation, etc.8.
    Forensic Accounting-new discipline which integrates accounting,auditing, and
    investigative skills-forensic accountant works as fraud examiner-done by tracking down or
    reviewing financialreports, papers and electronic trials-PROFESSIONAL REGULATORY
    BODIES REPUBLIC ACT 9298 – PHILIPPINE ACCOUNTANCYACT OF 2004
    -enumerates the objectives of the professionand other salient points
    includingprofessional requirements for a CPA to beaccredited and allowed to
    practice.PROFESSIONAL REGULATORY COMMISSION (PRC)-government body in charge
    of regulating andlicensing the practice of a profession likeaccounting, medicine,
    engineering, nursing,etc.-FUNCTIONS: 1) maintaining and enforcingprofessional
    examinations, 2) promulgatingand implementing standards and ethics inthe
    practice of a profession, 3) providinglegal and other regulatory services and
    4)acting on valid complaints by suspending andrevoking license of an erring
    professionalBOARD OF ACCOUNTANCY (BOA) -REPUBLIC ACT 3105 regulated on
    March17,1978-head of accountancy-to set up and promulgate a set ofprofessional
    standards and ethics in thepractice of the accounting profession-composed of a
    chairman and six membersappointed by the President of the PH-constantly monitors the

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