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2023 CPA Study Plan

The document outlines the topics covered in the 2023 CPA study plan, including financial accounting & reporting, advanced financial accounting & reporting, management services, auditing, regulatory framework for business transactions, and taxation. It provides the dates started and ended (if applicable) for studying each topic area and developing proficiency. The study plan covers a wide range of accounting, auditing, and business law concepts and standards.

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Daryl Mae Mansay
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554 views

2023 CPA Study Plan

The document outlines the topics covered in the 2023 CPA study plan, including financial accounting & reporting, advanced financial accounting & reporting, management services, auditing, regulatory framework for business transactions, and taxation. It provides the dates started and ended (if applicable) for studying each topic area and developing proficiency. The study plan covers a wide range of accounting, auditing, and business law concepts and standards.

Uploaded by

Daryl Mae Mansay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1

FINANCIAL ACCOUNTING & REPORTING

DATE DATED PROFICIENCY


TOPICS STARTED ENDED
Development of Financial Reporting Framework,
Standard-Setting Bodies, and Regulation of the
Accountancy Profession
History, Development, and Functions of the Standard-
Setting Bodies
Regulation and Environment of the Accounting Profession
in the Philippines

Conceptual Framework, Accounting Process, and


Presentation of Financial Statements
The Conceptual Framework for Financial Reporting
The Accounting Process
Presentation of the Financial Statements

Cash and other Financial Assets


Cash
Other Financial Assets (initial recognition, basis for
classification, subsequent measurement, reclassification, and
presentation in the financial statements)

Non-financial Assets
Inventories
Property, plant, and equipment
Investment property
Intangible assets
Biological assets

Financial Liabilities
Classification of financial liabilities
Initial recognition
Debt issue cost
Measurement using the effective interest method
Troubled debt restructuring

Non-financial liabilities, provisions, and contingencies


Liabilities arising from customer loyalty programs
Warranties and product guarantees
Unearned revenues arising from contracts, gift certificates,
and subscriptions
Other provisions and contingencies

2023 CPA Study Plan


2

Shareholders’ Equity
Share capital transactions
Retained earnings
Cumulative other comprehensive income
Computation of book value per share

Other Topics
Share-based payment transactions
Income Tax
Employee benefits
Interim Reporting
Operating segments

Other Reporting Frameworks


PFRS for SMEs
PFRS for Small Entities
Reporting for microenterprises

2023 CPA Study Plan


3

ADVANCED FINANCIAL ACCOUNTING & REPORTING

DATE DATED PROFICIENCY


TOPICS STARTED ENDED
Partnership Accounting
Nature, scope, and objectives
Formation
Operation/Dissolution/changes in ownership interest
Liquidation of partnership

Corporate Liquidation
Statement of Affairs
Statement of Deficiency
Statement of Realization and Liquidation
Determination of the order of priority of claimants of
company assets subject to liquidation

Joint Arrangements
Joint Operations
Joint Venture (equity method)

Revenue Recognition
Revenue from Contracts with Customers

Accounting for Home Office, Branch, and Agency


Transactions
Transactions on the books of the home office and the
branch
Reconciliation of reciprocal accounts
Preparation of individual and combined financial statements
Accounting for agency transactions

Business Combination
Nature, scope, and characteristics
Statutory Merger and Consolidation/Acquisition of assets
and liabilities (acquisition method)
Financial Statement Presentation

Separate Financial Statements


Accounting for Investment in Subsidiaries, Associates, and
Joint Ventures
Accounting for dividends and related disclosure
requirements

Consolidated Financial Statements


Consolidation procedures

2023 CPA Study Plan


4

DATE DATED PROFICIENCY


TOPICS STARTED ENDED
Derivatives and Hedging Accounting
Accounting for Derivatives
Hedging Activities: Hedging Foreign Currency Exposures
Translation of Foreign Currency Financial Statements
Translation from the Functional Currency into the
Presentation Currency (Closing/ Current Rate Method)
Translation into the Functional Currency (Remeasurement
from a Foreign Currency Financial Statement to the
Functional Currency
Restatement of Financial Statements (Functional Currency
of a Hyperinflationary Economy)

Not-for-Profit Organizations
Voluntary health and welfare organizations
Hospitals and other healthcare organizations
Colleges and Universities
Other not-for-profit organizations include churches,
museums, fraternities, associations, etc.

Government Accounting - General Fund


Basic Concepts in Government Accounting
Budget Process
Government Accounting Manual (GAM)
Journal Entries - Books of National Government Agency

Cost Accounting
System of Cost Accumulation or Costing System
Job-order Costing System
Process Costing System
Backflush Costing System (JIT System)
Activity-Based Costing System (ABC System)
Accounting for Joint and By-Products
Service Cost Allocation

Other Special Topics


Accounting for insurance contracts by insurers
Service Concession Arrangement – Accounting for Build,
Operate & Transfer

2023 CPA Study Plan


5

MANAGEMENT SERVICES

DATE DATED PROFICIENCY


TOPICS STARTED ENDED
Objectives, role, and scope of management accounting

Management accounting concepts and techniques for


planning & control
Cost terms, concepts, and behavior
Cost-volume profit (CVP) analysis
Standard costing and variance analysis
Variable vs. Absorption Costing
Financial planning and budgets

Management accounting concepts and techniques for


performance measurement
Responsibility accounting and transfer pricing
Balance scorecard

Management Accounting Concepts and Techniques for


Decision Making
Relevant costing and differential analysis

Financial Management
Objectives and scope of financial management
Financial statement analysis
Working capital management
Capital budgeting
Risks and leverage
Capital structure and long-term financing decision
Financial markets

Economics
Macroeconomics
Microeconomics

2023 CPA Study Plan


6

AUDITING

DATE DATED PROFICIENCY


TOPICS STARTED ENDED
Auditing Theory
Fundamentals of Auditing and Assurance Services
The Risk-based Financial Statement Audit – Client
Acceptance, Audit Planning, Supervision and Monitoring
Understanding the Entity and its Environment including its
Internal Control and Assessing the Risks of Material
Misstatement
Audit Objectives, Procedures, Evidences and Documentation
Completing the Audit/Post-Audit Responsibilities
Reports on Audited Financial Statements
Auditing in a Computerized Information Systems (CIS)
Environment
Attestation Services

Auditing Practice
Governance, Ethics and Quality Management
Planning the Audit and Performing Risk Assessment
Procedures
Risks Response
Audit Communication and Reporting

2023 CPA Study Plan


7

REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS

DATE DATED PROFICIENCY


TOPICS STARTED ENDED
Obligations
Contracts
Sales
Credit Transactions
Bouncing Checks
Consumer Protection
Financial Rehabilitation and Insolvency
Philippine Competition Act
Government Procurement Law
Partnerships
Corporations
Insurance
Cooperatives
PDIC Law
Secrecy of Bank Deposits
Truth in Lending Act
AMLA Law
Intellectual Property Law (except provisions under Part 1)
Data Privacy Act
Electronic Commerce Act
Ease of Doing Business and Efficient Delivery of
Government Service Delivery Ac
Labor Law
Social Security Law

2023 CPA Study Plan


8

TAXATION

DATE DATED PROFICIENCY


TOPICS STARTED ENDED
Principles of Taxation
Tax Remedies
Income Taxation
Estate tax
Donor’s tax
Value-added tax
Percentage tax
Senior Citizen’s Law (RA 7432)
Magna Carta for Disabled Persons (RA 7277)
Documentary Stamp Tax
Excise Tax
Taxation Under the Local Government Code (Local
Government Taxation and Real Property Taxation under the
Local Government Code)
Special Economic Zone Act for purposes of determining tax
liabilities and tax incentives
Bases Conversion and Development Act (BCDA) for
purposes of determining tax liabilities and tax incentives
Omnibus Investments Code for purposes of determining tax
liabilities and tax incentives
Basic principles of tax treaty and specific provisions of
Double Taxation Agreement (DTA) models

2023 CPA Study Plan

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