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IAS 16 & 38 Amendment – Revenue-based depreciation not appropriate

A variety of depreciation methods can be used to allocate the depreciable amount of an asset on a systematic basis over its useful ...
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Equity method of accounting in Separate Financial Statements now allowed

Doesn’t this sounds interesting? Equity method of accounting in the separate financial statements are now allowed which will ...
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October 2014 CPA Board Exam Schedule of Subjects

It’s not so long ago when the last CPA licensure/board examination took place last July 2014, yet, another is going to take place ...
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Withholding tax on compensation – most common computation error

Well, we might be aware that minimum wage earners (MWE), among others, who are earning purely compensation income are not subject to ...
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Extension of and penalty for noncompliance on website template for listed companies

We wrote an article regarding the required disclosure on the website of listed company mandated by Philippine Securities and Exchange ...
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BIR mandated the use of eBIRForms by non-EFPS filers

The Bureau of Internal Revenue (BIR), today, published Revenue Regulations (RR) No. 6-2014, Prescribing the Mandatory Use of Electronic ...
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Revenue regulation increasing withholding tax rates drafted by BIR

It has already became a part of our regular business process to withheld taxes on certain income payments to individuals and juridical ...
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Tax and other incentives to PEZA-registered Economic Zone enterprises

Philippine Economic Zone Authority (PEZA) – attached to the Department of Trade and Industry – is the Philippine government ...
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SEC Express System launched

Last July 22, 2014, the Philippine Securities and Exchange Commission (SEC) posted in its website an advisory/notice informing the ...
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Are interest and dividend income, foreign exchange gains subject to local business tax?

Companies registered and operating in the Philippines are required to comply with various local laws, rules and regulations.  Local ...
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Amendments to PAS 16 and PAS 41 for bearer plants

The requirement of the existing Philippine Accounting Standards (PAS)* 41 Agriculture, is to measure biological assets and agricultural ...
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July 2014 CPA Licensure Examination Results

The Professional Regulation Commission (PRC) announces that 1,107 out of 5,540 passed the Certified Public Accountant Licensure Examination ...