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08/Feb/2020

THANK YOU FOR PARTICIPATING AND CONGRATULATIONS TO THE FOLLOWING INDIVIDUALS

Full Name Score Rank
Robert G. Liwag Jr. 8 1
Youknow Who 8 1
Rochelle raymundo 8 1
You Know Who 8 1
Jonas Nonato 8 1
Christine Lean Mendoza 8 1
Renz Crystel M. Abanador 8 1
Ean Mark Gonzales 8 1
Angeline H. de Guzman 8 1
Kent Richard Amoyo 8 1
Hamod M. Gulidtem 8 1
John Oliver D Ocampo 8 1
Abbygail Busa 5 2
Claire Joy Pascual 5 2
Christopher M. Puyo 5 2
Charmagne Leegrace Pascual 5 2
Nikka Gomez 5 2
Luigi Valconcha 4 3
Ricardo Wagan 4 3
Rhed Botanes 4 3
Klarissa Marie Villamor 1 4
Kim C. Teheyo 1 4
Sabido, Monn Janvyl M. 1 4
Jan Niclaude Lingat Rivera 1 4
Ljbub 0 5
Darlyn M. Enriquez 0 5

16/Oct/2019

Here are the four types of audit reports that are given by external auditors:

1. Unqualified Opinion

If your company gets this opinion, that’s a good thing. An unqualified opinion indicates that the information presented in a company’s financial report is clean. As in a medical patient’s clean bill of health, an unqualified opinion shows that the audited financial statements can be presumed to be free from misstatements. 

2. Qualified Opinion

An opinion rendered in a qualified audit report is similar to an unqualified opinion; however, the auditing body cannot express an unqualified opinion for several reasons. One reason could be that the company did not present its financial records in accordance with GAAP.

3. Disclaimer Opinion

Auditors give a disclaimer when they are unable to express a definite opinion. This can be due to the lack of properly maintained financial records or the absence or insufficient support from the management. For instance, an auditor may not have had the opportunity to fulfill tasks that they deem to be crucial to the audit, such as observing operational procedures or reviewing particular procedures.

4. Adverse Opinion

When auditors issue an adverse opinion, it indicates that there has been a gross misstatement and, possibly, fraud, in the preparation of the company’s financial records. An adverse opinion shows that the company’s records have not been prepared in accordance with GAAP. Financial statements with adverse audit opinions are typically rejected by financial institutions or investors.


Source: https://www.dvphilippines.com/blog/understanding-audits-the-four-types-of-audit-reports


13/Oct/2019

As a result of economic, industrial, and technological developments, different specialized fields in accounting have emerged.

The famous branches or types of accounting include: financial accounting, managerial accounting, cost accounting, auditing, taxation, AIS, fiduciary, and forensic accounting.

1. Financial Accounting

Financial accounting involves recording and classifying business transactions, and preparing and presenting financial statements to be used by internal and external users.

In the preparation of financial statements, strict compliance with generally accepted accounting principles or GAAP is observed. Financial accounting is primarily concerned in processing historical data.

2. Managerial Accounting

Managerial or management accounting focuses on providing information for use by internal users, the management. This branch deals with the needs of the management rather than strict compliance with generally accepted accounting principles.

Managerial accounting involves financial analysis, budgeting and forecasting, cost analysis, evaluation of business decisions, and similar areas.

3. Cost Accounting

Sometimes considered as a subset of management accounting, cost accounting refers to the recording, presentation, and analysis of manufacturing costs. Cost accounting is very useful in manufacturing businesses since they have the most complicated costing process.

Cost accountants also analyze actual and standard costs to help managers determine future courses of action regarding the company’s operations.

4. Auditing

External auditing refers to the examination of financial statements by an independent party with the purpose of expressing an opinion as to fairness of presentation and compliance with GAAP. Internal auditing focuses on evaluating the adequacy of a company’s internal control structure by testing segregation of duties, policies and procedures, degrees of authorization, and other controls implemented by management.

5. Tax Accounting

Tax accounting helps clients follow rules set by tax authorities. It includes tax planning and preparation of tax returns. It also involves determination of income tax and other taxes, tax advisory services such as ways to minimize taxes legally, evaluation of the consequences of tax decisions, and other tax-related matters.

6. Accounting Information Systems

Accounting information systems (AIS) involves the development, installation, implementation, and monitoring of accounting procedures and systems used in the accounting process. It includes the employment of business forms, accounting personnel direction, and software management.

7. Fiduciary Accounting

Fiduciary accounting involves handling of accounts managed by a person entrusted with the custody and management of property of or for the benefit of another person. Examples of fiduciary accounting include trust accounting, receivership, and estate accounting.

8. Forensic Accounting

Forensic accounting involves court and litigation cases, fraud investigation, claims and dispute resolution, and other areas that involve legal matters. This is one of the popular trends in accounting today.

Focusing on a Specialization

If you want to focus on a specialization, you may want to consider obtaining an accounting certification in your chosen field. It will give you an edge over those who are uncertified. Due to the increasing population and demand for competitive professionals, you need to step it up a little to get recognized.

Some of the most famous certifications include the Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Internal Auditor (CIA), Certified Financial Planner (CFP), and Certified Information Systems Auditor (CISA).

Source: https://www.accountingverse.com/accounting-basics/types-of-accounting.html


13/Oct/2019

Primary Function

“To provide financial reports to various end-users for economic decision-making.” – PAS 1

Basic Function

“The process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.” – American Accounting Association


13/Oct/2019

Status and purpose and status of the Framework

The Framework’s purpose is to assist the IASB in developing and revising IFRSs that are based on consistent concepts, to help preparers to develop consistent accounting policies for areas that are not covered by a standard or where there is choice of accounting policy, and to assist all parties to understand and interpret IFRS. [SP1.1]

In the absence of a Standard or an Interpretation that specifically applies to a transaction, management must use its judgement in developing and applying an accounting policy that results in information that is relevant and reliable. In making that judgement, IAS 8.11 requires management to consider the definitions, recognition criteria, and measurement concepts for assets, liabilities, income, and expenses in the Framework. This elevation of the importance of the Framework was added in the 2003 revisions to IAS 8.

The Framework is not a Standard and does not override any specific IFRS. [SP1.2]

If the IASB decides to issue a new or revised pronouncement that is in conflict with the Framework, the IASB must highlight the fact and explain the reasons for the departure in the basis for conclusions. [SP1.3]

The Framework

Scope

The Framework addresses:

  • the objective of general purpose financial reporting
  • qualitative characteristics of useful financial information
  • financial statements and the reporting entity
  • the elements of financial statements
  • recognition and derecognition
  • measurement
  • presentation and disclosure
  • concepts of capital and capital maintenance

Chapter 1: The Objective of general purpose financial reporting

The primary users of general purpose financial reporting are present and potential investors, lenders and other creditors, who use that information to make decisions about buying, selling or holding equity or debt instruments, providing or settling loans or other forms of credit, or exercising rights to vote on, or otherwise influence, management’s actions that affect the use of the entity’s economic resources. [1.2]

The primary users need information about the resources of the entity not only to assess an entity’s prospects for future net cash inflows but also how effectively and efficiently management has discharged their responsibilities to use the entity’s existing resources (i.e., stewardship). [1.3-1.4]

The IFRS Framework notes that general purpose financial reports cannot provide all the information that users may need to make economic decisions. They will need to consider pertinent information from other sources as well. [1.6]

The IFRS Framework notes that other parties, including prudential and market regulators, may find general purpose financial reports useful. However, these are not considered a primary user and general purpose financial reports are not primarily directed to regulators or other parties. [1.10]

Information about a reporting entity’s economic resources, claims, and changes in resources and claims

Economic resources and claims

Information about the nature and amounts of a reporting entity’s economic resources and claims assists users to assess that entity’s financial strengths and weaknesses; to assess liquidity and solvency, and its need and ability to obtain financing. Information about the claims and payment requirements assists users to predict how future cash flows will be distributed among those with a claim on the reporting entity. [1.13]

A reporting entity’s economic resources and claims are reported in the statement of financial position. [See IAS 1.54-80A]

Changes in economic resources and claims

Changes in a reporting entity’s economic resources and claims result from that entity’s performance and from other events or transactions such as issuing debt or equity instruments. Users need to be able to distinguish between both of these changes. [1.15]

Financial performance reflected by accrual accounting

Information about a reporting entity’s financial performance during a period, representing changes in economic resources and claims other than those obtained directly from investors and creditors, is useful in assessing the entity’s past and future ability to generate net cash inflows. Such information may also indicate the extent to which general economic events have changed the entity’s ability to generate future cash inflows. [1.18-1.19]

The changes in an entity’s economic resources and claims are presented in the statement of comprehensive income. [See IAS 1.81-105]

Financial performance reflected by past cash flows

Information about a reporting entity’s cash flows during the reporting period also assists users to assess the entity’s ability to generate future net cash inflows and to assess management’s stewardship of the entity’s economic resources. This information indicates how the entity obtains and spends cash, including information about its borrowing and repayment of debt, cash dividends to shareholders, etc. [1.20]

The changes in the entity’s cash flows are presented in the statement of cash flows. [See IAS 7]

Changes in economic resources and claims not resulting from financial performance

Information about changes in an entity’s economic resources and claims resulting from events and transactions other than financial performance, such as the issue of equity instruments or distributions of cash or other assets to shareholders is necessary to complete the picture of the total change in the entity’s economic resources and claims. [1.21]

The changes in an entity’s economic resources and claims not resulting from financial performance is presented in the statement of changes in equity. [See IAS 1.106-110]

Information about use of the entity’s economic resources

Information about the use of the entity’s economic resources also indicates how efficiently and effectively the reporting entity’s management has used these resources in its stewardship of those resources. Such information is also useful for predicting how efficiently and effectively management will use the entity’s economic resources in future periods and, hence, what the prospects for future net cash inflows are. [1.22]

Chapter 2: Qualitative characteristics of useful financial information

The qualitative characteristics of useful financial reporting identify the types of information are likely to be most useful to users in making decisions about the reporting entity on the basis of information in its financial report. The qualitative characteristics apply equally to financial information in general purpose financial reports as well as to financial information provided in other ways. [2.1, 2.3]

Financial information is useful when it is relevant and represents faithfully what it purports to represent. The usefulness of financial information is enhanced if it is comparable, verifiable, timely and understandable. [2.4]

Fundamental qualitative characteristics

Relevance and faithful representation are the fundamental qualitative characteristics of useful financial information. [2.5]

Relevance

Relevant financial information is capable of making a difference in the decisions made by users. Financial information is capable of making a difference in decisions if it has predictive value, confirmatory value, or both. The predictive value and confirmatory value of financial information are interrelated. [2.6-2.10]

Materiality is an entity-specific aspect of relevance based on the nature or magnitude (or both) of the items to which the information relates in the context of an individual entity’s financial report. [2.11]

Faithful representation

General purpose financial reports represent economic phenomena in words and numbers. To be useful, financial information must not only be relevant, it must also represent faithfully the phenomena it purports to represent. Faithful representation means representation of the substance of an economic phenomenon instead of representation of its legal form only. [2.12]

A faithful representation seeks to maximise the underlying characteristics of completeness, neutrality and freedom from error. [2.13]

A neutral depiction is supported by the exercise of prudence. Prudence is the exercise of caution when making judgements under conditions of uncertainty. [2.16]

Applying the fundamental qualitative characteristics

Information must be both relevant and faithfully represented if it is to be useful. [2.20]

Enhancing qualitative characteristics

Comparability, verifiability, timeliness and understandability are qualitative characteristics that enhance the usefulness of information that is relevant and faithfully represented. [2.23]

Comparability

Information about a reporting entity is more useful if it can be compared with a similar information about other entities and with similar information about the same entity for another period or another date. Comparability enables users to identify and understand similarities in, and differences among, items. [2.24-2.25]

Verifiability

Verifiability helps to assure users that information represents faithfully the economic phenomena it purports to represent. Verifiability means that different knowledgeable and independent observers could reach consensus, although not necessarily complete agreement, that a particular depiction is a faithful representation. [2.30]

Timeliness

Timeliness means that information is available to decision-makers in time to be capable of influencing their decisions. [2.33]

Understandability

Classifying, characterising and presenting information clearly and concisely makes it understandable. While some phenomena are inherently complex and cannot be made easy to understand, to exclude such information would make financial reports incomplete and potentially misleading. Financial reports are prepared for users who have a reasonable knowledge of business and economic activities and who review and analyse the information with diligence. [2.34-2.36]

Applying the enhancing qualitative characteristics

Enhancing qualitative characteristics should be maximised to the extent necessary. However, enhancing qualitative characteristics (either individually or collectively) cannot render information useful if that information is irrelevant or not represented faithfully. [2.37]

The cost constraint on useful financial reporting

Cost is a pervasive constraint on the information that can be provided by general purpose financial reporting. Reporting such information imposes costs and those costs should be justified by the benefits of reporting that information. The IASB assesses costs and benefits in relation to financial reporting generally, and not solely in relation to individual reporting entities. The IASB will consider whether different sizes of entities and other factors justify different reporting requirements in certain situations. [2.39, 2.43]

Chapter 3: Financial statements and the reporting entity

Objective and scope of financial statements

The objective of financial statements is to provide information about an entity’s assets, liabilities, equity, income and expenses that is useful to financial statements users in assessing the prospects for future net cash inflows to the entity and in assessing management’s stewardship of the entity’s resources. [3.2]

This information is provided in the statement of financial position and the statement(s) of financial performance as well as in other statements and notes. [3.3]

Reporting period

Financial statements are prepared for a specified period of time and provide comparative information and under certain circumstances forward-looking information. [3.4-3.6]

Perspective adopted in financial statements and going concern assumption

Financial statements provide information about transactions and other events viewed from the perspective of the reporting entity as a whole and are normally prepared on the assumption that the reporting entity is a going concern and will continue in operation for the foreseeable future. [3.8-3.9]

The reporting entity

A reporting entity is an entity that is required, or chooses, to prepare financial statements. It can be a single entity or a portion of an entity or can comprise more than one entity. A reporting entity is not necessarily a legal entity. [3.10]

Determining the appropriate boundary of a reporting entity is driven by the information needs of the primary users of the reporting entity’s financial statements. [3.13-3.14]

Consolidated and unconsolidated financial statements

Generally, consolidated financial statements are more likely to provide useful information to users of financial statements than unconsolidated financial statements. [3.18]

Chapter 4: The Framework: the remaining text

Chapter 4 contains the remaining text of the Framework approved in 1989. As the project to revise the Framework progresses, relevant paragraphs in Chapter 4 will be deleted and replaced by new Chapters in the IFRS Framework. Until it is replaced, a paragraph in Chapter 4 has the same level of authority within IFRSs as those in Chapters 1-3.

Underlying assumption

The IFRS Framework states that the going concern assumption is an underlying assumption. Thus, the financial statements presume that an entity will continue in operation indefinitely or, if that presumption is not valid, disclosure and a different basis of reporting are required. [F 4.1]

The elements of financial statements

Financial statements portray the financial effects of transactions and other events by grouping them into broad classes according to their economic characteristics. These broad classes are termed the elements of financial statements.

The elements directly related to financial position (balance sheet) are: [F 4.4]

  • Assets
  • Liabilities
  • Equity

The elements directly related to performance (income statement) are: [F 4.25]

  • Income
  • Expenses

The cash flow statement reflects both income statement elements and some changes in balance sheet elements.

Definitions of the elements relating to financial position

  • Asset. An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. [F 4.4(a)]
  • Liability. A liability is a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. [F 4.4(b)]
  • Equity. Equity is the residual interest in the assets of the entity after deducting all its liabilities. [F 4.4(c)]

Definitions of the elements relating to performance

  • Income. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants. [F 4.25(a)]
  • Expense. Expenses are decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to equity participants. [F 4.25(b)]

The definition of income encompasses both revenue and gains. Revenue arises in the course of the ordinary activities of an entity and is referred to by a variety of different names including sales, fees, interest, dividends, royalties and rent. Gains represent other items that meet the definition of income and may, or may not, arise in the course of the ordinary activities of an entity. Gains represent increases in economic benefits and as such are no different in nature from revenue. Hence, they are not regarded as constituting a separate element in the IFRS Framework. [F 4.29 and F 4.30]

The definition of expenses encompasses losses as well as those expenses that arise in the course of the ordinary activities of the entity. Expenses that arise in the course of the ordinary activities of the entity include, for example, cost of sales, wages and depreciation. They usually take the form of an outflow or depletion of assets such as cash and cash equivalents, inventory, property, plant and equipment. Losses represent other items that meet the definition of expenses and may, or may not, arise in the course of the ordinary activities of the entity. Losses represent decreases in economic benefits and as such they are no different in nature from other expenses. Hence, they are not regarded as a separate element in this Framework. [F 4.33 and F 4.34]

Recognition of the elements of financial statements

Recognition is the process of incorporating in the balance sheet or income statement an item that meets the definition of an element and satisfies the following criteria for recognition: [F 4.37 and F 4.38]

It is probable that any future economic benefit associated with the item will flow to or from the entity; and The item’s cost or value can be measured with reliability.

Based on these general criteria:

  • An asset is recognised in the balance sheet when it is probable that the future economic benefits will flow to the entity and the asset has a cost or value that can be measured reliably. [F 4.44]
  • A liability is recognised in the balance sheet when it is probable that an outflow of resources embodying economic benefits will result from the settlement of a present obligation and the amount at which the settlement will take place can be measured reliably. [F 4.46]
  • Income is recognised in the income statement when an increase in future economic benefits related to an increase in an asset or a decrease of a liability has arisen that can be measured reliably. This means, in effect, that recognition of income occurs simultaneously with the recognition of increases in assets or decreases in liabilities (for example, the net increase in assets arising on a sale of goods or services or the decrease in liabilities arising from the waiver of a debt payable). [F 4.47]
  • Expenses are recognised when a decrease in future economic benefits related to a decrease in an asset or an increase of a liability has arisen that can be measured reliably. This means, in effect, that recognition of expenses occurs simultaneously with the recognition of an increase in liabilities or a decrease in assets (for example, the accrual of employee entitlements or the depreciation of equipment). [F 4.49]

Measurement of the elements of financial statements

Measurement involves assigning monetary amounts at which the elements of the financial statements are to be recognised and reported. [F 4.54]

The IFRS Framework acknowledges that a variety of measurement bases are used today to different degrees and in varying combinations in financial statements, including: [F 4.55]

  • Historical cost
  • Current cost
  • Net realisable (settlement) value
  • Present value (discounted)

Historical cost is the measurement basis most commonly used today, but it is usually combined with other measurement bases. [F. 4.56] The IFRS Framework does not include concepts or principles for selecting which measurement basis should be used for particular elements of financial statements or in particular circumstances. Individual standards and interpretations do provide this guidance, however.

Source: https://www.iasplus.com/en/standards/other/framework


08/Oct/2019

Definition of Lease

“A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration” – IFRS 16

“An agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use of an asset for an agreed period of time” – IAS 17

“An arrangement conveys the right to use the asset if the arrangement conveys to the purchaser (lessee) the right to control the use of the underlying asset” – IFRIC 14

Lessee

“A person who holds the lease of a property; a tenant. “–Oxford

Lessor

“A person who leases or lets a property to another; a landlord.” –Oxford


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25/Sep/2019

Success Story

By: Marian Dionio Uyguangco

CPA in God’s Perfect Time

(A Story of a Simple Woman Who Dream Big for God’s Greater Glory)

“This is a very long post, but as you read it, it will be going to be worth it.”

Part I

“I am a child of God, and He has sent me here, has given me an earthly home with parents kind and dear.” – The first song I have learned to sing and still my favorite song up to now.

I was born with a disability (cleft palate and unilateral cleft lip) which is a kind of birth defect that affects the nose, the lip, the teeth, the eyes, the speaking voice, the hearing, the breathing, the eating and my facial appearance. 1 out of 700 born babies have this kind of birth defect which there’s an underdevelopment of tissues during pregnancy. Ever since the first day I came into the world I was already in a state of difficulty. Despite of that, God indeed blessed me with a very loving and caring family. I was the last child of my parents which means I am the youngest among the 3 siblings and also I am the only daughter. When I was 2 years old I undergone a surgery to repair my unilateral cleft lip that helps a lot in terms of my breathing, eating and to close the gap of my lip.

Okay. Fast forward. I grew up a very shy person. I started to go to school at the age of 5 years old in the Day Care Center in our barangay. At 6 years old I enrolled to St. Isidore School (Elementary to Secondary)

I graduated as 5thhonor in secondary that’s why I received a 25% scholarship from the Christ the King College. Even before I received that scholarship, I already made up my mind to study in Christ the King and also I already decided what course or degree to take in college.

During my childhood years, I have found joy in numbers, and I just can’t explain during that time, why. When my grandma asked me about what course I want to take in college, I remembered, I answered this way “La, gusto nakokanangpangbusiness, mag-ihapbitawugkwarta, ingonako classmate “Business Management” daw nanga course.”

But, unexpectedly, during my secondary years, my eldest brother took a “Bachelor of Science in Accountancy” course, when I first heard that course, I asked myself what course is that? Because that’s none of the courses I have known… But because my kuya took that course, it made a way for me to know that course. In 2014, my eldest brother and I graduated, me in highschool and kuya in college. We are both scholars, kuya was sponsored by my tito who is a CPA, while me, a scholar in St. Isidore School.

1st day in college, I was so nervous because I got to meet new people and new challenges. The “introduce yourself” thing made me even more nervous because I need to talk to more than 60 students that time, I’m not sure if they will understand what will I say but I have to stand and say it by heart. After I introduced myself and shared my expectations of this course, my 1st accounting instructor had a follow up question that made me more shy, he asked if am I an honor student, and I answered yes sir, 5th. I don’t know why our instructor asked me about that, I even try to avoid saying about my achievements in school because I just want to be an ordinary student, no expectations from others at all.

Fast forward. During the end of 1stsem in 1st year, the cutting of grades has started. I was nervous when my classmates told me that our final grades are out, and we will get our grades from our dean that time, as I entered into his office, our dean smiled at me that made me wonder why. He congratulated me and I find out that I got a 1.1 (94) grade in Accounting 1. To be honest, I really don’t know how to express my happiness that time, all I know, is that I am so excited to share this blessing to my parents and call my mama. My mama texted me this line “Nak, proud kayo mi saimoha, we love youyan”, that was the first time I receive a message from mama saying that she is so proud of me and I really save it in my phone to serve as my inspiration/motivation to keep me going.

Before the 2ndsem has started, almost half our class was not able to continue in the program, (some were advice to shift, some shift courses on their own free will, and some stop due to financial problems).

At the end of 2ndsem and during summer classes, we received our grades in 2ndsem, I got a 2.1 (84) grade in one of my minor subject, I was afraid that time because in order to maintain my scholarship, I need to maintain my average atleast 90% and no grade lower than 2.0 (85) in any subject. So, I immediately proceed to the office of my instructor on that minor subject to inquire about my grade and hoping she will give supporting details that will correspond to the grade I got. (Cause, I am willing to accept whatever I deserve whether high or low grade as long as it is just.) But, unfortunately, my grade on that minor subject has become final and irrevocable, and I need to accept it. But, as a consequence my 25% scholarship (which was a big help) need to stop up to my 1st year only, and we need to shoulder the whole tuition fees and miscellaneous expenses from 2nd year up to 4th year. But, thankfully, before 2ndsem finish, my PEF loan has been approved.

PEF (Perpetual Education Fund) is a church program to help members pursue their dreams in education through self-reliance. It is a non-interesting bearing loan (an exception to substance over form principle), that will shoulder the whole tuition fees, school expenses, books and etc. for 4 years. And all we have to do, as a PEF applicant, is to pay 250.00 every month as an installment payment to our outstanding loan balance, and when we are prompt in paying, our payment is subject to additional 25% discount of our monthly payment, and if we have good grades, our loan is subject to 5% discount of our total outstanding balance, and if we graduate in our course and got employed subject up to 30% discount.

Heavenly Father is indeed very good all the time, when a door closes, windows will open. He gave more than what was lost from me (from 25% to 100%). My college life is “BAHAY-SKWELAHAN-SIMBAHAN” routine and I don’t consider it without having freedom, instead it is the other way around. I have learned that true freedom is not doing all the things we want, but it is doing the right things because true freedom comes from the consequences of our decisions.

Aside from attending classes and studying lessons in college, I am attending classes and studying lessons in Sunday School classes and Institute of Religion wherein we are studying the scriptures, doctrines and principles of the gospel of Jesus Christ.

I was exposed of so much challenges in terms of studies, finances, time, and etc. in my life, but God strengthen me in my weaknesses as I draw closer to Him each time. No matter how hard I am experiencing, I always have the passion to help and assist someone in need, not because I am knowledgeable, but because I just want to help as much as I can with God’s grace. To see someone’s burden has been lighten, is already my great reward.

I also experienced being “OP(Out of Place) a couple of times already, in school and church but not in our family, because in our family I always feel the acceptance, the love, the care and support from them and that’s why, everything that I have and will have will always be dedicated to them and to God.

I am just an ordinary woman, that’s what I think of myself. But I dream big (heavenly treasures) for God’s greater glory.

Finally, in the year 2018, all the hardwork and dedication have all paid off. I graduated in Bachelor of Science in Accountancy and in Institute of Religion, I’ve started it both in the same year, and I finish it both with the same year. Heavenly Father is so amazing, and I love it. <3

Part II

After graduation in college, I continued my advance review by reading again the textbooks in 6 board exam subjects. Actually, I started to re-read and make summary notes since I was still on 3rd year level, I started from FAR (Financial Accounting and Reporting).

During last sem of our 4 years in this course, I reviewed AFAR (Advanced Financial Accounting and Reporting). I remember, the last sem was the busiest sem for us due to overloaded projects, researches, assignments, requirements and activities but I never neglect in my priorities to study this particular coverage of board exam subject.

March 22, 2018, the day after our graduation ceremony. I starqbted to open my textbook in Auditing Theory by Cabrera (the thickest book I’ve read) During my vacation days on March to April, I am studying this book and making summary on my own. Though it’s hard because at the same time, I am helping in taking care of my nephew and doing household chores but because I set and act on my priorities, it was made possible. After Auditing Theory, it was followed by Applied Audting by Cabrera also. It took me a month to finish studying and making summary notes of it.

By the last week of April, I started the MAS (Management Advisory Services). Before the formal review classes has started, I have finish to study MAS, thank Thee to God.

Ever since, I was in college I save up money from my 1,000 monthly allowance for my review expenses. Actually, the money we fully paid to the review center I enrolled was from my savings.

On May 22, 2018 – I decided not to use any social media account (Facebook and Messenger) until the release of the board exam result.

I enrolled to PRTC in Cagayan De Oro. Our review classes started on May 23, 2018, in which our first subject is Auditing Theory which was handled by our great reviewer late sir Rommel Valdez. Before we finally start on our 1st day review, sir Rommel Valdez prepared a music video prayer as our opening prayer, and we are so touched. We don’t expect it, but we are so thankful for it that gave us more burning desire to pursue our dreams with God on our side.

During review days (5 months) I’ve stayed to my titaDely’s boarding house (wife of my father’s eldest brother). My stay there was free. I can say that I was so comfortable to where did I stay, I have my own room, and other necessaries were accommodated. But one thing is a disadvantage, it is quite far from my review center. And I need to take 2 rides to go to my review center. But that disadvantage became a advantage to me, how? because ofit’s location, I was more motivated to wake up and prepare more early to avoid being late in any of my review classes.

I need to walk every morning about 1 km in a very busy street to take a ride in a tricycle going to review center, I choose to walk every morningto save 7 pesos a day. Even if on my review days, I still practice saving money.

I sleep 8pm and wake up 2am (6 hours) of sleep. The first thing I do when I wake up is to pray, read the scriptures and drink hot dark choco to ease my sleepiness. I never drink any coffee in my entire review even when I’m still in college because I am keeping the law on word of wisdom (God’s law on health).

The review was really a test of patience, perseverance and commitment on your goal. I was always eager to attend review classes (rain/shine) because I want to learn from our reviewers and do not just depend on my own understanding. I answered all the MSQ and check my percentage on that particular topic and keep a track on it. I studied my mistakes and at the same time not being complacent on those topics I already know. I keep on practicing each day except Sunday. Sunday is my personal devotion to Heavenly Father and Jesus Christ.

Fast forward. On my first and final preboard my lowest is Taxation consistently, that’s why on the last two weeks before the actual board exam, I focus on my weakest part which is taxation.

Oct. 6, 2018 – the first day of board exam, the subject is FAR and AFAR, I find AFAR so hard, which later on it was reported that is was composed of some defect questions.

Oct 7, 2018 – second day, MAS and AUDITING. I find MAS hard particularly in capital budgeting wherein workback is required to get the answer.

Oct 13, 2018 – the third and last day of board exam, TAXATION and REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS (RFBT). To my surprise, the taxation was not difficult for me, I find it easy even though I’m not sure to some of my answers but I’m confident enough to this subject (God indeed heard my prayer and have seen my effort to cope up this subject). But, this last subject RFBT, supposed to be the easiest subject among the 6 subjects because it is usually all composed of theory questions, if there’s a computation, it just very minimal. This RFBT subject was the most difficult subject I took during the licensure examination, I felt something different as I was taking this subject. Many of the topics I have not yet read nor familiar to me.

10 days after the exam, the result is expected to be released. There was a delay of the result maybe because of a lot of number of examines which total to 14, 355, as I am waiting to the result in PRC website, I feel sleepy so I sleep at 11pm, while I’m sleeping, I dream something that “I thought I pass, but later I find out that I did not”. I suddenly woke up at 4am, and I notice messages in my phone, I read it. The first message I read is this “Mar, si Mark ranakapasasaatoa” and the second one is “Peronaa daw duhakacondi mar”. Do you know what I did? I immediately go in the living room, checking the result and still hoping I can see my name on the list of successful examinees, but I did not see my name… I did not cry but all the difficulties I’ve been through and all the sacrifices of all the people who supported me was all in my mind and heart and it really breaks my heart. My family never showed to me that they get disappointed instead they encourage me to try again. When I did not saw my name in the list of passers, I really assume that I will have to take again all 6 subjects (conservatism principle) but in the morning, as I verify my rating, I saw the remarks not color red instead it’s color green and it’s “COND” which means I just need to retake atleast 2 of the subjects given, and that is RFBT which I got 61%, just a 4% away from the title. Because my average already passed, I just need to get atleast 65% in RFBT in my retake, all thanks and glory to God.

November 13, 2018 I start to review again in RFBT subject, this time I will read all the textbooks, answer all the review questions, study all the articles of the special laws passed, enrolled again in PRTC-CDO for that particular subject only, and execute my plan efficiently and effectively. I put into my mind this “I need to master all the concepts and not just only those in the syllabus, so that whatever happens, I am ready.”

My mama and I travel to CDO once a month. My review classes have 2 days every month usually (Sunday & Monday). My mama is my constant partner, going to CDO every month became our bonding time. She even has to absent in her job on Monday just to be with me, to make sure of my safety.

By the way, before I started my second review, I received a church calling in Young Women District President as a 2ndcounselor, I did not hesitate about it and I know this is what the Lord wanted me to do, to serve His children. Though I am so busy in my board exam preparation, I always make time to magnify my calling. For me, leadership is not a position, it is a decision to take an action. Like Accounting, I balance both spiritual and temporal.

After 6 months of review. The May 2019 CPALE is very much approaching. Before I took the exam, I share my testimony in our church’s sacrament meeting and also I fast for 24 hours (no eating and drinking). I feel that it is no longer I, but it is God who is with me, because if I fast, me alone, I can never make it because I have ulcer condition, but with God, nothing is impossible.

May 12, 2019 – a day before the National Election is my day of exam in RFBT with a firm hope that it will be my last exam in CPALE. The exams on that day is TAXATION and RFBT. With my mama, we went in the testing center at 6:30am, though my exam is scheduled in the afternoon (1:00pm-4:00pm), I still need to be early and attend the general instructions to fill up necessary documents before the actual board exam starts.

My room assignment is room #22 (the last room), all examinees of that room are conditional. To become a conditional, you have a rating of atleast 75% in the majority subjects given, like in our case, there are 6 subjects given, soatleast 4 of that subjects are atleast have a rating 75% and those subjects which is below 75% need to be retaken within 2 years. And for a conditional examinee to finally pass, he/she needs to have average of atleast 75% and with no grade lower than 65%.

To be a CONDI it feels like a “do or die situation”, pass this subject, you will finally pass, but if you fail this, you need to take it all again.”

May 12, 2019, 12:00 noon, 1 hour before the exam starts, I’m already in the room I was assigned waiting for the exam will start. By the way, I never bring any review materials/handouts during board exam to avoid cramming and just simply focus on meditating. I already have time to prepare before exams and that’s enough, during actual board exam, is no more time for me to review to avoid also consuming brain cells that should be consumed in answering the exams.

When the RFBT exam starts, I started it with a prayer in my heart (closing my eyes). This is the first thing I do in every exam I will take, to pray, not leaning on my own capability and understanding only. The exam is composed of 100 items, 98 theories and only 2 computational. By the way, I have a basic calculator with me to comply with what kind of calculator allowed in exam. I find the exam, really hard, imagine, at my first attempt in answering the 100 items, I got 54 sure answers, and I am so nervous because I need to get 65 correct answers to pass. I am still lacking 11 items, I prayed to God that He will help to fill in what is lacking. I try to review the 100 items backward (#100-#1). And this time, I was more enlightened, from 54 sure answers to 78 sure answers, wow! God is so great. He even fill more than what I need. I maximize all the given time. I review for the 2nd time all my answers before I transfer it to the answer sheet. I slowly shade the letter of my answer to make sure it’s accuracy (slowly but surely). By the way, we are only 4 conditional examinees in our room in RFBT, and while I’m still transferring slowly my answers in the answer sheet, my co-examinees one by one they pass. I was not disturbed; I simply continue focus, knowing I still have enough time until I am only one remaining. When I was done, I close it with a prayer and at exactly 4pm, I pass.

May 22, 2019 10pm. I read a shared post in my newsfeed stating this way “Sa loobnglimangaraw,maybiyayangparatingsabuhay mo. Magtiwalakalang, in Jesus name. Amen” and fortunately, May 27 is the expected date of the release of result which is 5 days from this day.

May 27, 2019 – finally, the time has come, the most awaited part of every May 2019 CPALE examinees. I decided to turn off my phone, so that if there will a result already, me and my family will be the first to see my name in the passer’s list (really hoping, thatI will make it this time in God’s appointed time).

At 10pm, the PRC release the result, I was shaking as I scrolling down going to letter “U”, my mama and my kuya stood beside that time, and finally! We saw my name in the list. We hug each other of so much happiness. I was teary-eyed that time, we kneel down and pray as a family, giving all thanks to Heavenly Father, to His son, Jesus Christ and to the Holy Ghost.

Finally! The time has come, all the sacrifices have paid off and all worth the wait. It took me 5 years to finally attain this, (4 years in college, 6 months in formal review for 6 subjects and 6 months for 1 subject to retake).

My choices in the past made who I am today, and the choices I will make starting from the present will determine who I will become in the future.

When I was still a child, I am asking God, why He let me born this way, but now, I already know the reason and have seen the purpose. Because of my condition, I can be able to inspire and touch more lives and He uses my life to give light to all people who face difficulties in life whether physically, financially, spiritually, socially, and emotionally.

One of my favourite actor said, “It’s not how much you have, it’s what you do on what you have.” I was born with a disability but it did not disabled me to fulfil my responsibilities but indeed it is not a disability but just differently able J. So, if I made it, you can too make it!

Heavenly Father, has given every one of us agency, and it is our responsibility to use that agency wisely and righteously to obtain true happiness that will not last only in this life but also in the life to come.

I testify, that Heavenly Father and Jesus Christ lives, and They love us so much. Heavenly Father is indeed faithful to His words, if we love Him, we will keep His commandments, and if we keep His commandments, we shall prosper in the land. Everything has a reason and a season. I am only God’s instrument to His children to serve as a light to mankind. All glory and praise belongs only to Him. This is the story of a simple woman who dream big for God’s greater glory. In this, I humbly share in the sacred name of Jesus Christ. Amen.

Hiling ko sana, sa lahat na nakabasa nito, if you happen to meet someone who has a disability like me, wag kaawaaan at husgahan agad, kilalananin niyo po muna.


25/Sep/2019

Success Story

By: Shorin Rio O. Daa, CPA

Oct 2017 FAILED
May 2018 CONDITIONAL
October 2018 PASSED

Since I was elem till college, I never really thought failure being part of my vocabulary just until I failed the board exam (October 2017). I thought God was making me just get the taste of it once so I did tried again. But no, I ddnt made it just yet. But what kept me pushing really was not my competitive spirit anymore but my faith in God’s perfect timing.

In life God will take almost everything that we have so that when we finally reach the peak it wasnt because of us anymore, but Him.

You, too will become CPAs. 🙏

SHORIN RIO O. DAA, CPA
October 2018

PS. Sharing this once again ❤️


dave-bernal.jpg
25/Sep/2019

Success Story

By: Lawrence Dave Bernal Maglaya, CPA

“But do not forget this one thing, dear friends: With the Lord a day is like a thousand years, and a thousand years are like a day. 9 The Lord is not slow in keeping his promise, as some understand slowness. Instead he is patient with you, not wanting anyone to perish, but everyone to come to repentance.”

-2 Peter 3:8-9

My first attempt in the CPA board exams was last October 2017. I reviewed in ReSA for that batch. Because I graduated Cum Laude in college, nagkaroon ako ng thinking na “Alam ko na yan. Kaya ko ipasa ang CPA board exams without attending review classes”. And so, after getting 80% above average in our first preboard exams that time, mas lalong tumaas ang confidence ko na kaya ko ngang makapasa sa CPA board exams on my own. After the first preboards hindi na ako masyadong umattend sa review classes ko. Ang katwiran ko kasi, “alam ko na yan lahat. Pwede ko naman aralin lahat yan sa boarding house”. Lumipas ang mga oras hanggang sa narealize ko na papalapit na yung mismong araw ng actual October 2017 CPA board exams. One week before the actual exams, nagsimula na ako sa cramming stage ko. I realized a mistake in life. Sinayang ko ang oras. Yung oras na sana ay iaaral ko naman talaga dapat ay tinulog ko pala. Nagdaan ang actual October 2017 CPALE. If I am not mistaken, it was on November 2, 2017 ng lumabas yung results, 10 PM. Wala ang pangalan ko sa list of passers. Siyempre umiyak ako. I put the blame on God dahil sa pagbagsak ko. Pero pinagsisihan ko din. Why? God made me realize that time of how complacent I was during the review period. Naging mayabang ako. Nagtanim ako ng pride sa puso ko. That time napatunayan ko na totoo ang sinabi sakin ng cell leader ko sa church namin dati. Read James 4:6. “God opposes the proud, but gives grace to the humble”. After my moment with God nung gabing umiyak ako dahil sa unfavorable results, nagpasalamat pa din ako. HUMILITY. Yan ang gusto saking ituro ni God that time. Gusto ni Lord sa kanya yung Glory, hindi sakin. Gusto ni Lord siya yung tinataas, hindi ang sarili ko.

Fast Forward. Hindi ako kaagad nakapag-verify ng ratings ko sa PRC, so I decided na magpunta ng Manila to know the truth. I got 74 as my average pala sa October 2017 CPALE. That time napaisip ako. Kung nagamit ko lang ng tama ang oras ko noong nasa Manila ako edi sana nakapasa na pala ako. Medyo mayabang ulit ako that time. Hindi muna ako nagreview ulit. I decided to work muna kasi medyo depressed ako that time. Kailangan ko i-divert ang attention ko sa ibang bagay para gumaling yung sugat na dala ng pagbagsak ko. And so I applied and was hired sa SM Rosario. I worked there as an Accounting Assistant. CPA ang manager ko. I learned many lessons in life noong nasa SM ako nagwowork. Lessons about time. Lessons na hindi ko agad natutunan nung time na nagrereview ako. Then, nainspire ako sa success story ng manager ko sa SM. She earned her CPA title after failing once. I was also inspired by my officemates there. Mababait silang lahat. Sa kanila ko natutunan ang value ng patience. Hindi pala ako fast learner. Mali pala ang pagkakakilala ko sa sarili ko. That’s why I failed in the October 2017 CPALE.
Fast Forward. Hindi ko namalayan ang pagbilis ng oras. May 2018 na pala. The May 2018 CPALE results was released. Gabi yun nilabas ng PRC that time. I arrived home from work. CPA na pala yung apat kong classmates na kasabayan ko bumagsak noong October 2017 CPALE. That time I cried again to God. Naging bitter ako ulit. Not because CPA na yung apat kong classmates. But because I made a wrong decision pala. Dapat hindi muna pala ako nagwork. Dapat tinuloy ko ang laban ko. Edi sana pala CPA na ako that time. After that night ay gulong gulo ang isip ko. I prayed to God. He gave me a sign. And so I decided to resign. Sorry po Mam Kat and sa officemates ko sa SM Rosario.

I enrolled in CPAR. Batch 84 na that time. Wala akong pakialam kahit late na ko nag-enroll sa review classes ko. Naaalala ko kasi yung kasabihan na “kapag gusto maraming paraan”. Dahil nga desperado ako maging CPA kahit sa sa dulo na lang ng classroom yung available na slots, I still enrolled. Room 4 Weekends yun. Natatandaan ko pa. This time sure na ako sa gusto kong mangyari sa buhay ko. Thanks to God. Inuntog niya ako. Alam ko sa sarili ko na magiging CPA ako. It was written in the stars. And so pinagpatuloy ko yung laban na sinimulan ko last October 2017. Mas sinipagan ko pa ang pag-aaral. Tiniis ko lahat ng hirap sa Manila. Ang hirap pala ng buhay sa Manila. Mahirap ang byahe. Waking up at 4 AM para lang makarating ako sa Manila ng 8 AM kasi 8 AM start ng classes namin. Pero naisip ko kasi mas mahirap kapag hindi CPA. Kahit nahihirapan ako that time tinuloy ko ang laban ko. Lumalaban ako this time para sa pamilya ko. Lumipas ang mga araw. Unfortunately, hindi ko natapos aralin lahat ng handouts namin. I took the board exam last October 2018 without reading the handouts na related sa new topics sa RFBT. Also, hindi ko natapos yung Taxation. Making the story short, results day na naman and my name again was not included on the list.
Siyempre umiyak na naman ako. Kasi mas nasaktan ako this time dahil mas nag-effort na ako. Mas masakit pa kasi alam ko ang nararamdaman ng mga taong nasa tabi ko. Nagkaroon ako ng thinking na bakit ganoon? Am I a failure God? Then I prayed to God. I realized a mistake again.
Read Proverbs 3:5-6. “Trust in the Lord with all your heart and lean not on your own understanding. In all your ways submit to him, and He will make your paths straight”. May value na naman pala na gustong ituro si God sakin. Learn to listen. Mali pala yung attitude na “all knowing”. Matutong makinig. Hindi palaging ako ang tama. I realized a lot mistakes na nagawa ko sa 2nd review period ko. Hindi ako nakinig sa parents ko. Puro decision ko ang laging nasusunod. I was a little selfish pala.

Lumipas ang mga araw after ng October 2018 CPALE results. Siyempre I decided to draft my resume na. Gustuhin ko mang magreview ulit pero wala na kaming pera. Unti unti na namang nagthrowback lahat ng maling nagawa ko. I regret doing such things in the past. Yung pagiging complacent ko, yung pagiging hindi matalino sa pagmanage ng oras. All of that thoughts running inside my head. Kinausap ako ni Mama. Meron pala akong Tita sa side ni papa na willing magsponsor ng tuition ko sa review. This time medyo lumiwanag ang unti unti kong nagdidilim na mundo. I said to myself, hindi pa tapos ang laban. Isa pa! One more round pa. Aja!!!! HUA!!!!

Pumunta ako ulit sa Manila para sana magenroll. This time ay refresher na ako. I don’t care. Nasugatan na ako. Hindi ako papayag na masusugatan ako pero at the end ay wala naman akong mapapala. The battle must continue. Kaya nga Dave ang pinangalan sakin ng parents ko eh. It came from the biblical character, David. That time, the CPA board exams ang goliath sa buhay ko. So what if I failed twice? Nilagay ko ang sarili ko as the main character sa isang pelikula. Ang mga bida sa una lang binubugbog. Sa una lang pinahihirapan. Pero sa bandang huli nasa bida na ang huling halakhak. I prayed to God. This time iba na prayer ko. I am claiming this time na CPA na ako sa May 2019. Kahit wala pa sakin yung title na CPA pero nagpapasamalat na ko kasi nagclaim na nga ako.
Unfortunately, wala ng slots sa CPAR that time. Pero hindi ako nawalan ng pag-asa. Naalala ko ulit ang sinasabi ng parents at cell leader ko. Kung gusto, maraming paraan. And I learned na may vacant slots pa sa PRTC-Dasmariñas Cavite Branch. Syempre dahil kulang ang pera namin that time, humingi ako ng 50% discount dahil Cum Laude naman ako. Buti na lang napagbigyan ako. This time mas lalong luminaw sa mga mata ko na para sakin talaga ang CPA title. Imagine? Kahit mahirap may nagbigay sakin ng ganon opportunity para magreview ulit.
Hindi ko sinayang ang pagkakataon. Late enrollee ako ulit pero pinilit kong makahabol sa lessons. Thanks to PRTC reviewers kasi hindi naging mahirap sakin ang pag-catch-up sa mga lessons. Yung mga lessons na para sa akin ay mahirap dati (for example, Forex) ay unti unting dumali dahil magagaling ang reviewers namin. Thanks also to God. Hinayaan niyang maintindihan ko ang mga lessons.
Also, this time ay gumawa ako ng schedule sa cellphone ko. Binigyan ako ng magandang cellphone ni Lord. So why not use it para maging productive? I made a schedule of one subject per day. This time mas lalong tumindi yung eagerness ko na magaral. And so I decided to deactivate my social media accounts. Sabi ko sa sarili ko this is the final battle. After nito ayoko na ulit. There are things na kailangang bitawan at ilet-go.

Dumaan ang mga araw. Dahil mas mahaba ang review period kapag May ang exams, I was able to finish our handouts sa Business Law, Taxation, and Advanced Accounting. Hindi ko natapos yung ibang subjects kasi pinagsabay ko din ang gym at review. This time hindi lang utak ang ihahanda ko. Kailangan handa din ang katawan ko sa actual May 2019 CPALE. Mas confident na din ako this time kasi nakuha ko maging Top 2 at Top 4 sa first and final preboards namin.

Fast forward ulit. Dumaan ang Preweek. Thanks to Mommy Gerlie sa pagsponsor. Hahaha. Kasi short din budget namin that time. Ayoko makadagdag sa expenses ni mama dito sa bahay. The first week of the exams passed. Kagaya ng marami ay nahirapan din ako sa Taxation. Puro DST kasi yung tinanong na hindi ko naman talaga masyadong inaral. Tapos mantakin mo na masama din pakiramdam ko nung exam na yun. Hindi kasi ako nakatulog masyado the night before the exams. Lumipas si Taxation at eto na si RFBT. Okay naman. Natapos ko naman lahat ng questions by 3 PM. 1 PM kasi start nun. Thanks to Atty Yolly Bacay kasi maniwala ka sa hindi naririnig ko ang boses niya habang nagsasagot ako.

One week na ulit na preweek for the last 4 subjects na natitira. But unfortunately, sumama ang pakiramdam ko. I was not able to go to Manila dahil sa allergy ko. So I decided na yung materials sa CPAR batch 84 ang aralin ko. Buti na lang organized ako sa gamit from the start. It was one thing na natutunan ko because of my failures. Dapat organized.

Actual CPALE na ulit. Unang subject, MAS. Medyo okay pa kasi mahilig ako magsagot ng MCQs namin during my review period in PRTC. Pero yung sunod na subject ang hindi na okay. That was Auditing. Nakakagigil. Okay naman sa Auditing Theory. Pero bakit ganon sa Auditing Problems? Bawat problems na sinasagutan ko ay sinamahan ko na talaga ng dasal. Then Financial Accounting is next. Okay naman. Nakasundo ko naman. And the last is Advanced Financial Accounting. Nakasundo ko din kasi yung exact problems na inaral ko ang lumabas sa actual CPALE.

One week passed at ayun, last May 27 ay results day. Nanginginig ako nang nagising kaya I decided na magpunta sa gym to relax. Dumating ang gabi. I made sure na nakakain na ko ng dinner para kapag lumabas ang results, iiyak na lang ako.

I waited until around 10 PM. Then a reviewer from ReSA posted something. 16.43% lang ang passing rate with the Top 1 coming also from ReSA. Syempre wala akong naramdaman that time. Ewan ko ba. Namanhid yata ako bigla. Sa isip isip ko, kung sa 30% passing rate last October 2017, at sa 25% passing rate last October 2018 ay hindi ako kasama, how much more with the 16.43% which was now the lowest passing rate in the CPALE history in the Philippines for the past 10 years? I decided not to search on my name sa list of passers na tutal para sakin, it’s impossible na makita ko yung name ko doon. Nagsorry na din ako sa mama ko kasi hindi ko na siya mabibigyan ng anak na CPA. Ayoko umiyak. I decided na ipikit na lang ang mata ko at hantaying matulog ang aking diwa. But what surprising is nung ipinikit ko na ang mga mata ko, unti unti namang bumilis ang tibok ng puso ko. I don’t know why. Bihira dumadating ang point sa buhay ko na bumibilis ang tibok ng puso ko. There must be something na hindi ko pa nagagawa today. May kailangan pa kong gawin bago ako matulog. Then nagvibrate ang cellphone ko. Out of curiousity, I opened the chat of one of my classmates nung undergrad. Siyempre hindi pa malinaw sakin ang lahat pero nakalagay doon “Congrats”. Then another friend of mine sent also a chat that night. Dito medyo palagay na ako kasi bumibilis tibok ng puso ko lalo. “Congrats, Dave. CPA ka na”. Ayoko magassume kasi baka masaktan na naman ako. That’s why I requested a screenshot of the results. Nagsend siya ng screenshot kaso malabo. Hahahaha. Then I decided na kami na lang ni Mama ang tumingin sa results.

Finally, this time, may name was included in the list of passers na ❤ Another lesson from God, for the last time. Believe and Trust.

Sorry po kung medyo mahaba. I hope my CPA journey will inspire many CPA candidates. Wag po tayong matakot lumaban. Mangarap ka, hindi dahil libre. Mangarap ka dahil meron tayong Diyos na faithful at marunong tumupad sa kanyang mga pangako. For it is God who planted the dreams inside our hearts. Siya din ang tutupad nito. In his perfect time ❤

Lawrence Dave Bernal Maglaya
Certified Public Accountant by God’s grace
May 2019


@Philippine Accountancy Guide