1.1

Describe the nature of accounting (definition, purpose and functions, uses of accounting information, branches of accounting)

2%

2

2

1.2

Differentiate the accounting standards setting institutions and processes in the Philippines

2%

1

1

1.3

Illustrate the conceptual framework for the presentation of financial statements in terms of nature, purposes and components

2%

2

2

1.4

Interpret the qualitative characteristics of information

2%

2

2

1.5

Distinguish the elements of the financial statements and their recognition and measurement

1%

1

1

BOARD OF ACCOUNTANCY As of March 31, 2012

2.3

Evaluate the minimum requirements for the contents of the financial statements

1%

1

1

3.0

5%

5

1

2

1

1

3.1

Discuss the nature of double-entry accounting system in terms of definition, characteristics, underlying concepts, logic and techniques

1%

1

1

3.2

Distinguish double-entry accounting from single-entry accounting

1%

1

1