NATIONAL FEDERATION OF JUNIOR PHILIPPINE INSTITUTE OF ACCOUNTANTS

REGION 02
Federation Year 2019-2020

IMPLEMENTING RULES AND REGULATIONS

Academic Events

REGIONAL MIDYEAR CONVENTION 2019

Cagayan State University – Andrews Campus
Tuguegarao City, Cagayan
November 8, 9 and 10, 2019
 REGIONAL MIDYEAR CONVENTION 2019
Academic Events

I. For First Year Level

Basic Accounting Quiz

Conceptual Framework & Accounting Standards Quiz Level 1

II. For First Year / Second Year Level

General Information Quiz

Bible Quiz
Finance & Economics Quiz

III. For Second Year Level

Partnership & Corporation Accounting Quiz

Intermediate Accounting Quiz Level 2

IV. For Second Year / Third Year Level

Conceptual Framework & Accounting Standards Quiz Level 2

Taxation Quiz Level 1
Business Law Quiz Level 1

V. For Fourth Year / Fifth Year Level

Conceptual Framework & Accounting Standards Quiz

Intermediate Financial Accounting & Reporting Quiz
Advanced Financial Accounting & Reporting Quiz
Taxation Quiz
Regulatory Framework for Business Transactions Quiz
Management Advisory Services Quiz
Auditing Quiz
The 11th ARTHUR SONDAY III Cup

VI. For Chapter Presidents

Presidents’ Cup

VII. Open Level

Simburyon Cup for November

 REGIONAL MIDYEAR CONVENTION 2019
Academic Events

A. GENERAL RULE ON QUALIFICATIONS

All participants must be bona fide members of the National Federation of Junior Philippine Institute of
Accountants (NFJPIA) Region-02 as certified by the Regional Vice-President for Membership and Regional
Vice-President for Finance, and duly registered participants of the Regional Midyear Convention 2019.

B. SPECIFIC RULES ON QUALIFICATIONS

1. Only students in the first-year level are allowed to participate in the following:

• Basic Accounting Quiz

• Conceptual Framework & Accounting Standards Quiz (Level 1)

2. Only students in the first-year level or second year-level are allowed to participate in the following:

• General Information Quiz

• Bible Quiz
• Finance & Economics Quiz

3. Only students in the second-year level are allowed to participate in the following:

• Partnership & Corporation Accounting Quiz

• Intermediate Accounting Quiz (Level 2)

4. Only students in the second-year level or third year-level are allowed to participate in the following:

• Conceptual Framework & Accounting Standards Quiz (Level 2)

• Taxation Quiz (Level 1)
• Business Law Quiz (Level 1)

5. Only students in the fourth-year level or fifth year-level are allowed to participate in the following:

• Conceptual Framework & Accounting Standards Quiz

• Intermediate Financial Accounting & Reporting Quiz
• Advanced Financial Accounting & Reporting Quiz
• Taxation Quiz
• Regulatory Framework for Business Transactions Quiz
• Management Advisory Services Quiz
• Auditing Quiz
• The 11th ARTHUR SONDAY III Cup

6. Only chapter presidents are allowed to participate in the:

• Presidents’ Cup

7. Open to all levels

• Simburyon Cup for November

C. CONTEST RULES & REGULATIONS

1. Number of Participants

• Each participating school/chapter is allowed to send in a maximum of three (3) participants in each of
the academic quizzes, except in the Presidents’ Cup and in The 11th Arthur Sonday III Cup.

• Only the chapter president is allowed to participate in the Presidents’ Cup.

• Each participating school/chapter is allowed to send in one (1) team of two (2) members in The 11th
Arthur Sonday III Cup.

2. Number of Items / Pointing System / Time Allotment

• Each academic quiz, except for The 11 th Arthur Sonday III Cup, consists of twenty (20) questions. Ten
(10) for easy, five (5) for average and five (5) for difficult. Each question has the following equivalent points
– four (4) points for easy, five (5) points for average and seven (7) points for difficult. Participants will be
given ten (10) seconds and sixty (60) seconds to answer theory and problem-solving questions,
respectively.

• The 11th Arthur Sonday III Cup shall consist of forty (40) questions. Twenty (20) for easy, ten (10) for
average and ten (10) for difficult. Each question has the following equivalent point(s) – one (1) point for
easy, three (3) points for average and five (5) points for difficult. Participants will be given ten (10) seconds
and sixty (60) seconds to answer theory and problem-solving questions, respectively.

3. Scope/Coverage of Accounting Quizzes

• Basic Accounting Quiz – all topics in the course Financial Accounting & Reporting, except topics
on partnership and corporation accounting.

• CFAS Quiz Level 1 – Overview of Accounting, Conceptual Framework for Financial Reporting,
PASs 1, 2, 7, 8, 10, 12, 16, 19, 20, 21, 23, 24, 26, 27, 28, 39, 32 and 33.

• Partnership & Corporation Accounting Quiz – all topics in the course Financial Accounting &
Reporting that deals specifically with partnership and corporation accounting.

• CFAS Quiz Level 2 – CFAS Level 1 plus PASs 34, 36, 37, 38, 40 and 41, and PFRSs 1, 2, 3, 5,
6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16 and 17.

• Intermediate Accounting Quiz Level 2 – all topics in the courses Intermediate Accounting 1 and
Intermediate Accounting 2, except topics on shareholders equity.

• Taxation Quiz Level 1 – all topics in Philippine Income Taxation.

• Business Law Quiz Level 1 – all topics in Laws on Obligations & Contracts

• CFAS Quiz Top Level – all applicable financial reporting and accounting standards and
interpretations.

• Intermediate Accounting Quiz Top Level – all topics covered by the CPA licensure examination
syllabus on FAR.

• Advanced Accounting Quiz Top Level – all topics covered by the CPA licensure examination
syllabus on AFAR.

• Taxation Quiz Top Level – all topics covered by the CPA licensure examination syllabus on
Taxation.
 • Regulatory Framework for Business Transactions Quiz Top Level – all topics covered by the CPA
licensure examination syllabus on RFBT.

• Management Advisory Services Quiz Top Level – all topics covered by the CPA licensure
examination syllabus on MAS.

• Auditing Quiz Top Level – all topics covered by the CPA licensure examination syllabus on
Auditing.

• The 11th Arthur Sonday III Cup – all topics covered by the CPA licensure examination syllabus on
FAR, AFAR, Taxation, RFBT, MAS and Auditing, plus topics on Organization and Management,
Finance and Economics, and Current Affairs.

• Presidents’ Cup – all topics covered by the CPA licensure examination syllabus on FAR, AFAR,
Taxation, RFBT, MAS and Auditing.

4. Contest Proper

• Participants are advised to be at the designated place/venue fifteen (15) minutes before the time
scheduled. Late participants are still allowed to participate; however, the participants will be
disqualified for the questions they had missed.

• Participants must be in business casual attire.

• Participants will be provided a copy of the questions. The quizmaster will read each question once.
The timer starts after the quizmaster says “Go”.

• Calculators (non-programmable) are allowed and flash cards provided for the contest will be used.

• Clarifications regarding a particular question/problem must be addressed to the quizmaster before

the quizmaster starts reading the next question. Only participants are allowed to raise the
clarifications.

• Any person found coaching will be forced to leave the venue. Participants caught cheating will be
disqualified. The quizmaster shall have the absolute control over the conduct of the quiz.

• All points will be accumulated in all three (3) categories. The participants garnering the top three (3)
highest scores will be declared as First Placer, Second Placer, and Third Placer, respectively. In case
of tie, clincher question(s) will be drawn.

• In determining the Champion in the Team Category of the individual quizzes, the school/chapter
garnering the highest total accumulated scores of its three (3) participants shall be declared as
Champions.

D. Confirmation of Participation and Submission of Documentary Requirements

• A school/chapter must submit the official list of participants in all academic events on or before
October 31, 2019 through the Regional President, copy furnished the Regional Vice President for
Academics, the Regional Vice President for Membership, the Regional Vice President for Finance
and the Regional Secretary-General. This is to provide ample time for verification and validation by
the Regional Vice President for Membership and Regional Vice President for Finance.

• Hard copy of registration/enrolment form for the first semester of the current academic year, duly
validated school identification card and other documentary requirements must be submitted in the
morning of November 8, 2019 of the Regional Midyear Convention 2019 to the Regional Vice
President for Academics for verification and validation.
E. Schedule of Academic Events

November 8, 2019 (Friday)

01:30 PM – 02:30 PM
Room 1: General Information Quiz (1st/2nd Year)
Room 2: Partnership & Corporation Accounting Quiz (2nd Year)

02:30 PM – 03:30 PM
01:30 PM – 04:30 PM Room 1: Bible Quiz (1st/2nd Year)
Room 2: Intermediate Accounting Quiz (4th/5th Year)

03:30 PM – 04:30 PM
Room 1: Finance & Economics Quiz (1st/2nd Year)
Room 2: Advanced Accounting Quiz (4th/5th Year)

November 9, 2019 (Saturday)

08:30 AM – 09:30 AM
Room 1: Basic Accounting Quiz (1st Year)
Room 2: Auditing Quiz (4th/5th Year)

09:30 AM – 10:30 AM
08:30 AM – 11:30 PM Room 1: Business Law Quiz Level 1 (2nd/3rd Year)
Room 2: Regulatory Framework for Business Transactions Quiz (4th/5th Year)

10:30 AM – 11:30 AM
Room 1: Conceptual Framework & Accounting Standards Quiz (1st Year)
Room 2: Conceptual Framework & Accounting Standards Quiz (2nd/3rd Year)

01:30 PM – 02:30 PM
Room 1: Intermediate Accounting Quiz Level 2 (2nd Year)
Room 2: Management Advisory Services Quiz (4th/5th Year)

02:30 PM – 03:30 PM
01:30 PM – 04:30 PM Room 1: Taxation Quiz Level 1 (2nd/3rd Year)
Room 2: Taxation Quiz (4th/5th Year)

03:30 PM – 04:30 PM
Room 1: Conceptual Framework & Accounting Standards Quiz (4th/5th Year)
Room 2: Simburyon Cup November

November 10, 2019 (Sunday)

08:30 AM – 10:30 AM
Room 1: The 11th Arthur Sonday III Cup
08:30 AM – 11:30 AM
10:30 AM – 11:30 AM
Room 1: Presidents’ Cup
F. Pointing System for All-Academics Championship

Event First Second Third Participation

Basic Accounting Quiz 15 10 7 2
Conceptual Framework & Accounting Standards Quiz (Level 1) 10 7 5 1
General Information Quiz 15 10 7 2
Bible Quiz 15 10 7 2
Finance & Economics Quiz 15 10 7 2
Partnership & Corporation Accounting Quiz 15 10 7 2
Intermediate Accounting Quiz (Level 2) 15 10 7 2
Conceptual Framework & Accounting Standards Quiz (Level 2) 15 10 7 2
Taxation Quiz (Level 1) 15 10 7 2
Business Law Quiz (Level 1) 15 10 7 2
Conceptual Framework & Accounting Standards Quiz (Top Level) 15 10 7 2
Intermediate Accounting Quiz (Top Level) 15 10 7 2
Advanced Accounting Quiz (Top Level) 15 10 7 2
Taxation Quiz (Top Level) 15 10 7 2
Regulatory Framework for Business Transactions Quiz (Top Level) 15 10 7 2
Management Advisory Services Quiz (Top Level) 15 10 7 2
Auditing Quiz (Top Level) 15 10 7 2
11th Arthur Sonday III Cup 30 20 10 3
Presidents’ Cup 20 15 10 2
Total Maximum Points 300

G. Pointing System for Over-All Championship

Area of Competition Weight Formula Illustration

Academics 100% Total Points x 100% 300 x 100% 300
Sports 150% Total Points x P150% 200 x 150% 300
Cultural 75% Total Points x 75% 400 x 75% 300
Total Overall Points 900

H. Approval

Approved by the Regional Council Officers on September 29, 2019 during the Special Meeting of the
Regional Executive Council at La Patria College, Santiago City.

Approved by the Chapter Presidents/Representatives on October 13, 2019 during the Fourth Regular
Meeting of the Regional Chapter Presidents Assembly at University of Perpetual Help System Isabela,
Cauayan City, Isabela.

BREY LAICA B. NICOLAS

Regional President

Noted:

AIZA P. RUMAUAC, CPA ARTHUR C. SONDAY III, CPA, MBM

Regional Adviser Regional Adviser Emeritus
National Committee Member, PICPA Committee on Student Participation
Regional Sectoral Representative for Education, PICPA Northern Luzon