Filipino Accounting Tutorial

thank you i'm honored po!

𝗕𝗮𝘀𝗶𝗰 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 (𝗕𝗮𝘀𝗶𝗰 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴) 𝗖𝗼𝘂𝗿𝘀𝗲 𝗳𝗼𝗿 𝗙𝗿𝗲𝗲 𝗵𝗲𝗿𝗲:
https://tinyurl.com/Basic-Accounting-Course-4-FREE
https://tinyurl.com/Basic-Accounting-Course-4-FREE
https://tinyurl.com/Basic-Accounting-Course-4-FREE

Thank you, JPIA - PUP Santa Rosa local chapter, for having me as your speaker for the Intermediate Accounting review on Bonds Payable and Troubled Debt Restructuring last April 10, 2026. (⁠•⁠‿⁠•⁠) :)

Photos gathered from Junior Philippine Institute of Accountants - PUP Santa Rosa page: https://www.facebook.com/JPIA.PUPSRC

Thank you for having me, ACTI CPA Review!
(sino ba naman ako para maisama dito? hehe)

But i've learned to trust every quiet shift and opportunity. Because sometimes, they lead us to something better.

ACTI CPA Review may not be as widely known or as “big” as the review centers you often see on social media. Pero tulad nila, ACTI CPA Review is built on strong foundations, with dedicated platforms and a team of qualified, competent, and passionate lawyers and certified public accountants (CPAs) from across Luzon region, all committed to guiding every aspiring CPA in their CPA journey. 🙂

Minsan, the best support doesn’t have to be loud— just genuine.

ACTI Licensure Examination for Certified Public Accountants (LECPA) Formal Review Rates:
https://www.facebook.com/share/p/1MHMU9KNPi/

Photos gathered from ACTI CPA Review page:
https://www.facebook.com/share/1AMkBjeiKJ/
https://www.facebook.com/share/1A2s3rhkEe/

Maraming salamat po! National Federation of Junior Philippine Institute of Accountants (NFJPIA) 🫶🏻

Just sharing, I was once awarded as the Most Outstanding Local Chapter Adviser (MOLCA) during the 2024 Year-End Awards. I’ve been serving as Faculty Adviser of our local chapter since 2023.

But, honestly, the true credit of this MOLCA award goes to my advisees—my exceptional and incredible JPIA officers back then! 🌕🐲

To all future CPAs, don’t just focus on passing your core accounting subjects. Be active in your JPIA community, your respective JPIA Region council, and NFJPIA.

With these, you’ll learn so much and grow even more as a future CPA! ♡

taos-puso akong nagpapasalamat sa inyong palaging pagsuporta. 🥹 ♡ ♡

𝗣𝗔𝗥𝗧𝗡𝗘𝗥𝗦𝗛𝗜𝗣 𝗙𝗢𝗥𝗠𝗔𝗧𝗜𝗢𝗡

𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗖𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀:

💰 𝗖𝗮𝘀𝗵 – Recorded at face value.

💵 𝗖𝗮𝘀𝗵 𝗶𝗻 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗖𝘂𝗿𝗿𝗲𝗻𝗰𝘆 – Recorded at the current exchange rate

🏣🚗 𝗡𝗼𝗻-𝗖𝗮𝘀𝗵 𝗔𝘀𝘀𝗲𝘁𝘀 – Valued using the following priority order:

1. Agreed Value (value mutually agreed by partners)
2. Fair Value
3. Appraised Value
4. Book Value

💳 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 – Recorded at fair value, which is its present value (since liabilities conceptually measured at present value).

𝗕𝗔𝗦𝗜𝗖 𝗦𝗧𝗘𝗣𝗦 𝗜𝗡 𝗔𝗖𝗖𝗢𝗨𝗡𝗧𝗜𝗡𝗚 𝗙𝗢𝗥 𝗣𝗔𝗥𝗧𝗡𝗘𝗥𝗦𝗛𝗜𝗣 𝗙𝗢𝗥𝗠𝗔𝗧𝗜𝗢𝗡:

1. Adjust the books of the proprietor (if an existing business is being converted into a partnership).

2. Close the books of the proprietor

3. Record the contributions of each partner in the partnership's books.

4. Prepare the statement of financial position immediately after the formation:

🎥 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗙𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗣𝗹𝗮𝘆𝗹𝗶𝘀𝘁:
https://tinyurl.com/Partnership-Formation
https://tinyurl.com/Partnership-Formation
https://tinyurl.com/Partnership-Formation

📚 𝗦𝘁𝗮𝗿𝘁 𝗬𝗼𝘂𝗿 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗝𝗼𝘂𝗿𝗻𝗲𝘆 𝘄𝗶𝘁𝗵 𝗖𝗼𝗻𝗳𝗶𝗱𝗲𝗻𝗰𝗲! 🎯

" .. 𝑁𝑎𝑝𝑎𝑘𝑎𝑙𝑎𝑘𝑖𝑛𝑔 𝑡𝑢𝑙𝑜𝑛𝑔 𝑛𝑔 𝑚𝑔𝑎 𝑣𝑖𝑑𝑒𝑜𝑠 𝑚𝑜, 𝑒𝑠𝑝𝑒𝑐𝑖𝑎𝑙𝑙𝑦 𝑠𝑎 𝑚𝑔𝑎 𝑘𝑎𝑡𝑢𝑙𝑎𝑑 𝑛𝑎𝑚𝑖𝑛 𝑛𝑎 𝑎𝑠𝑝𝑖𝑟𝑖𝑛𝑔 𝑎𝑐𝑐𝑜𝑢𝑛𝑡𝑎𝑛𝑡𝑠. 𝐺𝑜𝑑 𝑏𝑙𝑒𝑠𝑠 𝑝𝑜 𝑎𝑛𝑑 𝑚𝑜𝑟𝑒 𝑣𝑖𝑑𝑒𝑜𝑠 𝑡𝑜 𝑐𝑜𝑚𝑒." 🙏🏻✨

Year 2025 accounting classes are fast approaching!
Mag-aaral na naman nang mabuti ang mga aspiring accountants! 📚🙂

✅ 𝗕𝗮𝘀𝗶𝗰 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴:
👉🏻 Watch Now: https://tinyurl.com/BasicFAR

✅ 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗮𝗻𝗱 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗶𝗼𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴:
👉🏻 Watch Now: https://tinyurl.com/PartCorp1
👉🏻 Watch Now: https://tinyurl.com/PartCorp2

✅ 𝗜𝗻𝘁𝗲𝗿𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝟭:
👉🏻 Watch Now: https://tinyurl.com/IntAcctg1
👉🏻 Watch Now: https://tinyurl.com/ReviewIntAcc

✅ 𝗜𝗻𝘁𝗲𝗿𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝟮:
👉🏻 Watch Now: https://tinyurl.com/IntAcctg2

✅ 𝗖𝗼𝘀𝘁 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗖𝗼𝗻𝘁𝗿𝗼𝗹:
👉🏻 Watch Now: https://tinyurl.com/Cost-Acctg

✅ 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗮𝗹 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀:
👉🏻 Watch now: https://tinyurl.com/AcctgST

📌 𝗘𝘅𝗽𝗹𝗼𝗿𝗲 𝗺𝗼𝗿𝗲 𝗽𝗹𝗮𝘆𝗹𝗶𝘀𝘁𝘀 𝗳𝗼𝗿 𝗼𝘁𝗵𝗲𝗿 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝘁𝗼𝗽𝗶𝗰𝘀 𝗵𝗲𝗿𝗲:
👉 See All: https://tinyurl.com/AcctgPlaylists

While I'm happy the videos could help, the true credit goes to you and to your school.

𝐓𝐡𝐞 𝐭𝐫𝐮𝐞 𝐜𝐫𝐞𝐝𝐢𝐭 𝐠𝐨𝐞𝐬 𝐭𝐨 𝐲𝐨𝐮 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐝𝐞𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐝𝐢𝐥𝐢𝐠𝐞𝐧𝐜𝐞, 𝐚𝐧𝐝 𝐡𝐚𝐫𝐝 𝐰𝐨𝐫𝐤 𝐢𝐧 𝐬𝐭𝐮𝐝𝐲𝐢𝐧𝐠. 😉

The foundation of your knowledge was mainly built by your institution and their guidance plays a huge role in your success. Therefore, the main credit goes to them as well! ♥️

I’m just here to enhance those and provide some extra support through my videos (𝑎𝑛𝑑 𝑝𝑎𝑔-𝑟𝑒-𝑟𝑒𝑝𝑙𝑦 𝑠𝑎 𝑚𝑔𝑎 𝑞𝑢𝑒𝑠𝑡𝑖𝑜𝑛𝑠 𝑎𝑠𝑘𝑒𝑑 𝑡ℎ𝑟𝑜𝑢𝑔ℎ 𝑐𝑜𝑚𝑚𝑒𝑛𝑡 𝑠𝑒𝑐𝑡𝑖𝑜𝑛). 🙂

Mag-aral kayo nang mabuti.♡

𝐏𝐅𝐑𝐒 𝟏𝟔 𝐋𝐞𝐚𝐬𝐞𝐬

PFRS 16 requires lessees to recognize lease liabilities and right-of-use assets for most leases.

Want to learn more? Check out this playlist for more:
https://tinyurl.com/Accounting-For-Leases

Patuloy ang sama ng panahon dahil sa bagyong . Mag-ingat po ang lahat.

📢𝗨𝗣!

Playlist:
1. 𝐁𝐚𝐬𝐢𝐜 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠
2. 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐚𝐧𝐝 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠
3. 𝐈𝐧𝐭𝐞𝐫𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝟏
4. 𝐈𝐧𝐭𝐞𝐫𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝟐
5. 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬
6. 𝐂𝐨𝐬𝐭 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐂𝐨𝐧𝐭𝐫𝐨𝐥
7. 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬

In addition, mayroon din po tayo videos about selected topics of the following:
1. 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧
2. 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧
3. 𝐂𝐨𝐧𝐜𝐞𝐩𝐭𝐮𝐚𝐥 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐚𝐧𝐝 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬
4. 𝐈𝐧𝐭𝐞𝐫𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝟑

🎥: https://tinyurl.com/FilipinoAccountingTutorial

📢𝗗𝗘𝗔𝗗𝗟𝗜𝗡𝗘𝗦 𝗳𝗼𝗿 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗳𝗼𝗿 𝗜𝗡𝗩𝗢𝗜𝗖𝗜𝗡𝗚 𝗥𝗘𝗤𝗨𝗜𝗥𝗘𝗠𝗘𝗡𝗧𝗦.

Nag-issue ang Bureau of Internal Revenue (BIR) ng RR No. 11-2024 to 𝗔𝗺𝗲𝗻𝗱 𝘁𝗵𝗲 𝗧𝗿𝗮𝗻𝘀𝗶𝘁𝗼𝗿𝘆 𝗣𝗿𝗼𝘃𝗶𝘀𝗶𝗼𝗻𝘀 of RR 7-2024 relative to the Deadlines for Compliance for Invoicing Requirements.

Ayon sa RR No. 11-2024

🔴 𝗨𝗻𝘂𝘀𝗲𝗱 𝗢𝗳𝗳𝗶𝗰𝗶𝗮𝗹 𝗥𝗲𝗰𝗲𝗶𝗽𝘁𝘀 (𝗢𝗥) - Maaaring i-convert ang mga unused OR as INVOICE. For ease of doing business, allowed ang taxpayer na i-strikethrough ang word OFFICIAL RECEIPT (example: O̶F̶F̶I̶C̶I̶A̶L̶ ̶R̶E̶C̶E̶I̶P̶T̶) and i-𝗦𝗧𝗔𝗠𝗣 "Invoice", "Cash Invoice", "Charge Invoice", "Service Invoice", or any name describing the transaction until 𝗙𝗨𝗟𝗟𝗬 𝗖𝗢𝗡𝗦𝗨𝗠𝗘𝗗

🔴 Ang 𝐬𝐮𝐛𝐦𝐢𝐬𝐬𝐢𝐨𝐧 of INVENTORY LIST of unused OR/Billing Statement/Statement of Account/Statement of Charges to be used as INVOICE is 𝗼𝗻 𝗼𝗿 𝗯𝗲𝗳𝗼𝗿𝗲 𝗝𝘂𝗹𝘆 𝟯𝟭, 𝟮𝟬𝟮𝟰.

Narito ang RR No. 11-2024: https://www.bir.gov.ph/index.php/revenue-issuances/revenue-regulations/2024-revenue-regulations.html