Accountants\finance\auditors Etc.

[Obese_F]

Since last year, I am working on a part-time or consultancy basis. sub-contractor lang ang tax na binabawas sa akin (2%) lang..

 

i also want to file my tax personally.. paano ba ito? please help me.. magkano ba ang fee kung sa accountant ko ipapagawa ito?

[Pussyboy]

Since last year, I am working on a part-time or consultancy basis. sub-contractor lang ang tax na binabawas sa akin (2%) lang..

 

i also want to file my tax personally.. paano ba ito? please help me.. magkano ba ang fee kung sa accountant ko ipapagawa ito?

 

do you really need an accountant to do this? there's a limit where CPA's are needed when you file your ITR.

 

also, download the form 1702 from www.bir.gov.ph. you can file already unless you fall under the former where you need a CPA.

 

have ready the 2307 your clients have given you.

[IQUIT]

Hi guys,

 

any body knows how to apply a for a CFA (Certified Finance Analyst). i heard it takes three exams so you can get a certificate. Would u know how much is the cost?

 

Mistercool

 

check out www.cfainstitute.org. Level 1 test is $735 (inclusive of membership). level 2 test is $455, but you end up paying more since you'll have to buy the required textbooks/study notes. Expect to pay around $1000 per level.

 

Feel free to PM me if you have more questions! I'm a CFA candidate myself. currently studying for the level 2 exams this june :cry:

 

speaking of which..any other CFA candidates or charterholders out there?!!

[IQUIT]

CFA - chartered financial analyst (AIMR)

CFM - certified financial manager (IMA / Institute of management accountant/ CMA)

 

CFA - Application can be dowloaded from AIMR website (assoc..invstment management ad research) or you can email them to have a form mailed to you.

 

3 level, last level would be essay. Right now you can take it twice a year (may/june and december) unlike before which is only available once a year.

 

It's cheaper if you are a student but then again where are you going to get the money. Expect to spend 550 - 650 usd.

 

Actually, for the CFA's, only the first level is offered twice a year. Levels 2 and 3 are still only offered in June

[oliverjohnholmes]

i seek input on a few matters..

 

i would be negotiating for and on behalf of individuals with delinquent accounts with credit cards... and i am looking for points of leverage in negotiations...

 

do credit card companies declare delinquent accounts as part of operational losses, thus having the net effect of lowering income and thus their taxability? if so, how soon after does the company declare this loss? is it operative that once they transfer collections externally (meaning collection agency) they write it off from their books?

 

if the answer assumes some risk on your part when divulged, please pm me so i can ask more questions...

 

my humble gratitude...

[willow_boy]

i seek input on a few matters..

 

i would be negotiating for and on behalf of individuals with delinquent accounts with credit cards... and i am looking for points of leverage in negotiations...

 

do credit card companies declare delinquent accounts as part of operational losses, thus having the net effect of lowering income and thus their taxability? if so, how soon after does the company declare this loss? is it operative that once they transfer collections externally (meaning collection agency) they write it off from their books?

 

if the answer assumes some risk on your part when divulged, please pm me so i can ask more questions...

 

my humble gratitude...

 

Let me take a shot at your questions.

 

I will treat the first question as independent of the second one.

 

Generally accepted accounting principles (GAAP) require that losses be reported within the same accounting period they are found. The losses should satisfy 2 conditions: (1) The loss has a reasonable probability of occurence; and (2) the amount of loss can be reasonably estimated. In the case of credit card companies, once they have deemed that certain accounts are no longer collectible, they are required by GAAP rules to report the write-off of such accounts as operational losses, thus hitting their bottom line.

 

With regard to your second question. The assignment of collection to a collection agency normally does not mean that a customer's account has been written off. Instead, the company merely transferred the collection effort to another agency/entity in the hope that a collection agency would be able to provide a more focused collection effort against certain customers. In this particular situation, no write-off is effected on the books of the credit card company. Receivables are still on the credit card company's books and the collection agency earns commissions on successful collections.

 

I hope I was of help. Regards.

[oliverjohnholmes]

Let me take a shot at your questions.

 

I will treat the first question as independent of the second one.

 

Generally accepted accounting principles (GAAP) require that losses be reported within the same accounting period they are found. The losses should satisfy 2 conditions: (1) The loss has a reasonable probability of occurence; and (2) the amount of loss can be reasonably estimated. In the case of credit card companies, once they have deemed that certain accounts are no longer collectible, they are required by GAAP rules to report the write-off of such accounts as operational losses, thus hitting their bottom line.

 

With regard to your second question. The assignment of collection to a collection agency normally does not mean that a customer's account has been written off. Instead, the company merely transferred the collection effort to another agency/entity in the hope that a collection agency would be able to provide a more focused collection effort against certain customers. In this particular situation, no write-off is effected on the books of the credit card company. Receivables are still on the credit card company's books and the collection agency earns commissions on successful collections.

 

I hope I was of help. Regards.

thanks for enlightening me...

 

so it would purely be at the whim of the credit card company on when loss is declared... most of the accounts are already delinquent well above a year...

 

i think i have my plan of action already... thank you again...

[willow_boy]

thanks for enlightening me...

 

so it would purely be at the whim of the credit card company on when loss is declared... most of the accounts are already delinquent well above a year...

 

i think i have my plan of action already... thank you again...

 

That's true. That's where they can potentially "manipulate" their earnings. It could really be open to such abuse.

[kerrmit]

mga kapatid na CPA...

 

meron ba nakaka alam sa inyo kung kailan ang schedule ng CIA exams at deadline for registration? salamats...

 

 

dude, the nearest exams are on may 16 - 17, might be too late already to register. there's another one on november and you mighht get a better chance of passing if you take the review first. the review classes here in the philippines have always yielded impressive results. :cool:

 

 

 

thanks for enlightening me...

 

so it would purely be at the whim of the credit card company on when loss is declared... most of the accounts are already delinquent well above a year...

 

i think i have my plan of action already... thank you again...

 

 

just a tip: negotiate directly with the credit card company, not with the collection agents. some credit card companies accept a settlement of as low as 30 - 50% of the amount due depending on your nego skills. :thumbsupsmiley:

 

best of luck dude!

[veamucho]

dude, the nearest exams are on may 16 - 17, might be too late already to register. there's another one on november and you mighht get a better chance of passing if you take the review first. the review classes here in the philippines have always yielded impressive results. :cool:

 

 

best of luck dude!

 

took and passed level 1 exams back in october 2005...and never took the other exams to date...meron po bang possibility na ma-invalidate yung level 1 exam ko if i don't take the october 2007 exams?

[kerrmit]

took and passed level 1 exams back in october 2005...and never took the other exams to date...meron po bang possibility na ma-invalidate yung level 1 exam ko if i don't take the october 2007 exams?

 

Are you sure? Because the CIA exams are always scheduled May and November, never in October... are you referring to the CIA Exams or the CFA Exams?

 

AFAIK, two years lang talaga ang allowed to complete the whole CIA exam but it may be good for you to check it out with the local organization here. baka may paraan pa to get around this rule.

 

http://www.iia-p.org/

 

 

also, i heard that the exams are gonna be done online starting next year. something to consider also.

[veamucho]

Are you sure? Because the CIA exams are always scheduled May and November, never in October... are you referring to the CIA Exams or the CFA Exams?

 

AFAIK, two years lang talaga ang allowed to complete the whole CIA exam but it may be good for you to check it out with the local organization here. baka may paraan pa to get around this rule.

 

http://www.iia-p.org/

also, i heard that the exams are gonna be done online starting next year. something to consider also.

 

november nga siguro.

 

best to call na lang...thanks...

[kerrmit]

no problem :mtc:

[Spurt]

guys, our company is looking for an accounting software, applicable in companies engaged in services and trading. parang multi company type na software.please send me a pm.

[kerrmit]

guys, our company is looking for an accounting software, applicable in companies engaged in services and trading. parang multi company type na software.please send me a pm.

 

IMHO, it's never a good idea to get an off-the-shelf accounting software especially here in the philippines. Usually, you will end up with more problems than the ones you started with (the ones you wanted to solve by getting the software).

 

It may be better to look for a programmer and simply create one that suits your needs. Just my opinion though.