Foremost, what is an auditor? By definition, it is an individual that is responsible for evaluating some aspects of a project, business, or individual. An auditor accumulates and evaluates evidence to report on the degree a company's assertions comply with an established set of … [Read more...]
May 2012 CPA Board Exam Results and List of Passers
Our blog is about business, and it tackles a lot of topics in accounting, finance, and Philippine taxation. The chief writer of this blog is also a Certified Public Accountant. That is why it already became our tradition to publish the results of CPA Board Examination which is … [Read more...]
Sample Balance Sheet and Income Statement
The following are sample balance sheet (statement of financial position), income statement, and statement of changes in owner’s equity for an individual or sole proprietorship business. These sample financial statements are actually the ones we have discussed and prepared in our … [Read more...]
How to Make Adjusting Journal Entries
In our previous article, we’ve discussed about the preparation of a trial balance. After the trial balance is prepared, we need to ensure that our accounting records are accurate and our financial reports will be fairly presented. Adjusting journal entries (AJE) are necessarily … [Read more...]
October 2011 CPA Board Exam Results and List of Passers
On October 8-9 and 15-16, 2011, at the cities of Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo and Legazpi, the Certified Public Accountants (CPA) board exams were held. Usually, the Professional Regulation omission (PRC) releases the CPA board results just the day after … [Read more...]
What is the Importance of Accounting in Business
What is the importance of accounting in business? Imagine a world without language and communication, isn’t it in chaos? What would happen if there is no balance sheet or statements of financial position to show us the financial condition of our business? What can we do if there … [Read more...]