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CAT Challenge ExamIf you have graduated from any of the accredited providers, then you will only have to take theCAT Challange Exam.The CAT challenge exam can be take in three levels:Level 1 : Practical AccountingLevel 2: Cost Accounting

Level 3: Taxation and Payroll AccountingTaking the Full CourseIf you didn't finish an accounting course at any of the recognized universities but still want topursue being an Accounting Technician, you will have to take the full course consisting of nine(9) parts with 9 exams.The first six (6) parts of the course will help you qualify to take the CAT challange exam that willpave your way to be an Accounting Technician. The last three (3) exams will consist of the CATchallange exam.


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CAT Level 1: Practical Accounting

Sign up for the CAT Level 1 Program TODAY!

October 13 - November 10, 2012 (10:00 am - 7:00 pm) NIAT HQ, Ortigas, PasigCity

What is the CATLevel 1 Program?

The CAT Level 1 program is designed to nurture the learning process and provide you with well presented and

structured course. The qualification itself has been split into Four modules for ease of learning. Each module

contains set of drills and real-life cases for you to assess how well you are progressing.The Program is also

accredited by the Institute of Certified Bookkeepers in UK; which all CAT Level 1 passers are also eligible to

become Certified Bookkeepers of UK

The Accelerated CATLevel 1 Certification Program Curriculum


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The CAT Level 1 Program is designed to nurture the learning process and provides you with a

well-presented and structured course. The program itself has been split into four modules (plus a

comprehensive review at the end) for ease of learning. Each module contains a set of drills and

real-life cases in order for you to assess how well you are progressing.

The CAT Level 1 exam is fully accredited by the Institute of Certified Bookkeepers UK. Passers

of this exam can apply for Certified Bookkeeper (CB) qualification.

Module 1: Review of BookkeepingSkills

Basic principles of double entry

accounting

Nature and accounting of a

merchandising business and how itdiffers with a service business

Analyze and record transactions in the

accounts such as purchases and sales

Preparation of chart of accounts for a

merchandising and service business

Use of T accounts to analyze

transactions into debit and credit parts

Preparation of trial balance and learn its

purpose

Understanding matching concept relates

to and supports the accrual basis of

accounting

Module 2: Completing the Accounting

Cycle

Adjusting journal entries that will update

the matching process

The use of worksheet as a useful device

for collecting and summarizing data

Preparation of the adjusting and closing

entries from a worksheet

Performing Bank Reconciliation The adjusting and closing entries

Preparation of a post closing trial

balance

Finalizing the multi-step and single-step

income statement, statement of owner's

Module 3: Constructive Accounting

Establishing of Internal Controls to

safeguard assets most specially Cash

Single entry bookkeeping systems

Reconstruction of Incomplete records

Conversion of Cash -basis to accrualaccounting

Correction of Errors

Analysis and Interpretation of Financial

Statements

Module 4: Special Journals

Recording of transactions using sales

journal, cash receipts, purchases

journal, cash payments journal and

general journal

Use of voucher system to control

expenditures, preparation of a voucher

and recording in voucher register

Use of check register and payment

process of the voucher system

Use of combination journal especially for

service enterprises

Module 5: Comprehensive Review


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equity

Balance sheet for a merchandising and

service business

Completing the accounting cycle

Who Should Sit for the Accelerated CATLevel 1 Program?

Only serious applicants need apply. This intensive program is designed to condense three

sessions into a one-day review course. Candidates who are seeking to join the Accelerated CAT

Level 1 certification program must :

Be a Certified Public Accountant (CPA) or

Have at least five (5) years experience in accounting work

NIAT will be offering the Accelerated CAT Level 1 Program just for this year. Grab the

opportunity now while seats are still available!

The Benefits of CATto You

Offer your employer proven specific skills and knowledge.

Advance your career and increase your compensation potential.

Put CAT after your name, giving you the same distinction among bookkeepers that

"CPA" gives to Certified Public Accountants. Enhance your value to your company and clients.

Increase your value to your company or clients Certified Accounting Technicians can

and do take on new responsibilities.

Increase your chances of working overseas where CAT is recognized such as Australia,

New Zealand, United Kingdom, and other Asia-Pacific countries.

CATLevel 2 Program Syllabus - Cost Accounting

The CAT Level 2 Program is designed to nurture the learning process and provide you with well

presented and structured course. The qualification itself has been split into five modules for easeof learning. Each module contains set of drills and real-life cases for you to assess how well you

are progressing. The Program is also accreditted by the Institute of Certified Management

Accountants (ICMA) in Australia, wherein CAT Level 2 passers are eligible to become a

Registered Cost Accountant.


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Module 1: Understanding ManagementInformation

Appreciate the importance of financial

and non-financial information for

planning, control and decision-making

purposes

Recognize the variety of cost units, cost

centers and profit centers

Differentiate between direct and indirect

costs; fixed and variable costs; period

and product costs; controllable and

uncontrollable costs; avoidable and

unavoidable costs; etc.

Identify cost classification for decision-

making and planning Appreciate cost behaviour patterns

including linear, curvi-linear and step

functions

Appreciate the importance of unit costs

for both financial and management

decision making

Module 2: Accounting for Materials,

Labor, and Overhead Costs

Describe the methods and procedure ofstorekeeping, stocktaking and inventory

control

Explain and illustrate the perpetual

inventory system and its procedures

documentation

Explain and illustrate the methods

available for pricing stores issues and for

inventory valuation

Explain the impact of different

remuneration methods on the cost of

finished goods

Explain and illustrate the problems and

procedures of identifying, analyzing,

allocating and absorbing overhead costs

Explain the different bases for overhead

absorption rates

Compute overhead absorption rate

Module 4: Budgeting for Planning andControl

Identify and apply techniques for

forecasting revenue and expenditures

Prepare operational, cash, and capital

expenditure budgets

Explain the differences between fixed

budgets, flexible budgets and reforecast

Calculate variances and identify their

cases

Explain and illustrate the concept of

zero-based budgeting

Explain the uses and limitations of

standard costing

Identify and determine differentstandards; basic, ideal, attainable and

current standards

Identify and calculate sales and cost

variances

Prepare standard product cost and

analyze different types of variances

between standard and actual product

costs

Identify the significance of, and inter-

relationship between, variances

Module 5: Estimating Costs and

Revenues for Decision-Making

Calculate and explain the usefulness of

contribution margin and contribution

margin ratio

Determine the sales volume required to

earn a desired level of operating income

Identify the purposes of break-even

analysis

Illustrate and determine the margin of

safety

Use Cost Volume Profit (CVP)

relationships to evaluate a new

marketing strategy

Identify assumptions underlying CVP


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Differentiate and calculate plant-wide

overhead rates and departmental

overhead rates

Explain and illustrate the principles and

methods of treatment of under and over-

absorption of overhead costs

Module 3: Accumulating Costs for

Products and Services

Explain the flow and accumulation of

costs when using job costing

Describe the purpose and content of job

cost sheet

Identify appropriate units for

accumulation of control costs

Explain the treatment of profit/loss on

contracts including uncompleted

contracts

Demonstrate the application and

identification of cost units

Explain and determine the equivalent

units and cost per equivalent unit

Demonstrate how costs are assigned to

equivalent units using process costing

Demonstrate cost accounting methods

used in cost processes, process lossesand work in progress

Explain the difference between joint

product and by-product costing

analysis

CATLevel 3 Program Syllabus - Payroll and Taxation Accounting

The CAT Level 3 Program is designed to nurture the learning process and provide you with well

presented and structured course. The qualification itself has been split into three modules forease of learning. Each module contains set of drills and real-life cases for you to assess how well

you are progressing.

Passers of CAT Level 3 are eligible to become either a Certified Accounting Technician of the

Institute of Accounting Technicians in Canada or a Certified Accounting Technician of the

Institute of Certified Management Accountants in Australia.


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Module 1: Payroll Accounting

Payroll computation whether on daily,

weekly, semi monthly, and/or monthly

basis

Computation of Withholding Taxes due,

SSS Premium due, Phil Health, and

other deductions

Recording of payroll and present them to

the corresponding financial statements

Implementation of necessary internal

control measure in payroll processing

Module 2: Business Income Taxation

General Principles of Taxation Income Tax Rules for business and

practice of profession

Sources of Income, allowable business

expenses and personal exemptions

Minimum Corporate Income Tax,

Improperly Accumulated Earnings and

Gross Income Tax for Corporations

Preparation of Quarterly Income Tax

return (BIR Form 1702Q) and Annual

Income Tax Return (BIR Form 1702)

Compliance requirements such askeeping Books of Accounts and its

preservation

BIR registration requirements and

issuance and printing of receipts, sales

or commercial invoice

Module 3: Business Taxes: ValueAdded Taxes and Percentage Taxes

Concept and Scope of Value Added

Taxes and Tax Exempt transactions

VAT on Sale of Goods or Properties,

Services, Use of Lease of Property and

Importation of Goods

Input and Output Taxes and

Computation of VAT Payable

Compliance requirements, Withholding

and Remittance of VAT

Rates and Bases of Percentage Tax

Withholding of Percentage Taxes and

Expanded Withholding Percentage

Taxes/li> Monthly Remittance of VAT and Other

Percentage Taxes

Program Objectives

Designed for accountants, financial managers, auditors and other professionals, such as bankers

and investment advisers, who want to develop their knowledge and understanding of IFRS.Participants on the Diploma course will also gain and benefit from attaining a working knowledge

of IFRS, the DipIFRS aims to:

Develop expertise in the application of accounting concepts under the International

Financial Reporting Standards;

Create avenues of international mobility through the credential DipIFRS; and


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Provide an opportunity to candidates of taking their accounting skills to highly advanced

level and be able to progress within various accounting support roles as IFRS specialists.

To Whom Does IFRS Apply?

The DipIFRS program provides a detailed review of all significant technical IFRS requirements. It

includes case studies, examples, exercises, coverage of IFRSs, and interactive hands-on

participation from the participants. This comprehensive workshop helps participants to acquire the

tools necessary to understand and apply IFRS and prepare IFRS financial statements. The

program includes the latest pronouncements, and participants are brought up-to-date on all

topics.

This program is ideal for individuals at all levels within an organization who need to have detailed

knowledge of IFRS. In essence, it is an opportunity to transfer a crucial new skill set to those

responsible for making accounting decisions and preparing, reviewing or approving IFRS financial

statements. The program is generic and does not focus on any one particular industry.

The DipIFRS program answers questions such as:

What are the current and likely future requirements of IFRS?

What is the probable impact of adopting such requirements?

How are IFRS recognition and measurement rules applied?

What are the requirements for presentation of IFRS financial statements and related

disclosures?

Where can up-to-date information about IFRSs be obtained?

How can complex or unique situations be researched?

Program Syllabus

The DipIFRS course is structured into six (6) modules covering all the standards and its latest

pronouncements. The course comprises of six (6) class room lecture sessions spread over two

(2) months.

Essence of IFRS

IFRS and the economic crisis

What are the issues?

o The Framework theory

vs. practice

o The issue of fair value

Lessons from the latest compliance

Module 5: Specialized Industries and othersituations

Accounting and reporting by retirement

benefit plans (IAS 26)

Insurance and contracts (IFRS 4)

Exploration for and Evaluation of

Mineral Resources (IFRS 6)


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issues

The IASBs work programme and

convergence

The IFRS for SMEs is this the

way ahead?

Module 1

Accounting Policies changes in

accounting

estimates and errors (IAS 8)

Events after the balance sheet

date (IAS 10)

Related Party Disclosures (IAS 24) First-time adoption of IFRS (IFRS

1)

Interim financial reporting (IFRS

34)

Module 2: Income Statement Profit &

Loss Account

Revenue (IAS 18)

The effects of changes in foreignexchange rates (IAS 21)

Employee benefits (IAS 19)

Borrowing Cost (IAS 23)

Accounting for government grants

(IAS 20)

Income taxes/ current tax/ deferred

tax (IAS 12)

Discontinuing operations (IFRS 5)

Earnings per share (IAS 33)

Module 3: Balance Sheet

Property plant and equipment (IAS

16)

Investment property (IAS 40)

Agriculture (IAS 41)

Financial reporting in hyper inflationary

economies (IAS 29)

Module 6

Accounting for Financial Instruments

IAS 39 and 32 & IFRS 7

Financial instruments

disclosure and presentations (IAS 32)

Financial Instruments recognition and

measurement (IAS 39)

Financial instruments disclosure and

presentations (IAS 32) Financial Instruments: Disclosures

(IFRS 7)

Share based payment (IFRS 2)

The Role of IFRS in the Economic Crisis

Workshop on the details

The Principles

The Necessary arithmetic

Identifying financial Instruments Recognizing and de-recognition

Measurement

o Initial

o Fair Value

o Impairment

Derivatives

o Embedded Derivatives

Hedge Accounting

o Hedge effectiveness

Presentation and disclosure


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Intangible Assets (IAS 38)

Impairment of assets (IAS 36)

Inventories /Stock (IAS 2)

Constructions contracts / Long

term WIP (IAS 11)

Leases off balance sheet finance

(IAS 17)

Provisions, contingent liabilities

and contingent assets (IAS 37)

Module 4: Statement of Cash Flow

Accounting for Groups and Investments

Business Combinations (IFRS 3) Consolidated and separate

financial statements (IAS 27)

Accounting for investments in

associate (IAS 28)

Financial reporting of interests in

joint ventures (IAS 31)

Operating Segments / Segments

reporting (IFRS 8)

Reminders on 2011 start of the year tax requirements

There are a number of information returns and other compliance

requirements for taxpayers in the first 30 days or so of every

year. There are penalties imposed on non-compliance. We are

issuing this reminder to ensure that you wont miss them.

1. Annual Information Return of Income Taxes Withheld on

Compensation (BIR Form 1604-CF)


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BIR Form 1604CF should be submitted on or before January 31,

2011 together with the Alphabetical List (Alphalist) of Employees.

Employers with less than 10 employees should prepare and submit

the alphalist in hard copy while those with 10 or more employees

should submit the alphalist in soft copy using 3.5-inch floppy

diskette, together with the manually prepared alphalist, as

required by some RDOs. EFPS filers are required to submit the

alphalist in soft copy, regardless of the number of their

employees, thru e-submission/e-attachment. A new data entry and

validation module (version 3.4) is already available which can be

dowloaded in the BIR website to comply with the BIR file formats.

2. Employees Withholding Statements (BIR Form 2316)

BIR Form 2316 for TY 2010 should be issued on or before January

31, 2011 to all employees, including those who qualify as minimum

wage earners (MWE). For employees who do not qualify for

substituted filing such as those with concurrent or successive

employer during TY 2010, the certification at the bottom should

not be signed by both the employer and employee. In such case,BIR Form 2316 should be attached to the ITR that the employee

will file on April 15, 2011.

3. Registration of manual books of accounts

Registration of manual books of accounts is required before said

books are used. However, if manual books of accounts is previously

registered and the pages are not yet fully exhausted, there is noneed to re-register or re-stamp provided portions pertaining to a

particular year should be labeled or marked by the taxpayer.

Registration of new set of manual of books of accounts shall be at

the time when all pages have been exhausted.


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4. Submission of books of accounts

This includes submission of computerized books of accounts and

permanently bound computer generated/loose leaf books of

accounts.

A. Loose-leaf books of accounts

The deadline for submission of loose-leaf bound books of accounts

for taxable year ending December 31, 2010 is on January 15,

2011

B. Computerized books of accounts

The submission deadline for computerized books of accounts and

other accounting records in CD-R, DVD-R, or other optical media

for CY ending December 31, 2010 is on January 30, 2011.

5. Inventory list

The annual inventory list for taxpayers whose accounting period

ended on December 31, 2010 should be submitted on January 30,

2011.

6. List of regular suppliers for Top 20,000

This is required to be submitted on a semestral basis by Top

20,000 corporations covering their purchases of goods and services

from all their regular local/resident suppliers as well as non-regular


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suppliers for single purchases of P10,000. The deadline for the list

for the second semester of TY 2010 is February 01, 2011.

7. Annual registration fee

The P500 annual registration fee should be paid on or before

January 31, 2011 using BIR Form 0605 at the authorized agent

bank (AAB) within the RDO where the business or branch is

registered. For eFPS taxpayers, BIR Form 0605 should be e-filed

and e-paid. Late payment of registration fee is subject to 25%

surcharge, 20% interest and P200 penalty.

8. Renewal of LGU registration

This covers payment of local business tax (LBT), mayors permit

fee, and other fees and charges imposed b y LGUs. Due date is

January 20, 2011. The LBT may be paid in installment within the

first 20 days of each quarter.

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