Career Research Paper Accounting in The Philippines 2019
Career Research Paper Accounting in The Philippines 2019
Career Research Paper Accounting in The Philippines 2019
Grade 11 AM1
2019
Legaspi 1
Table of Contents
Abstract 2
Introduction 3
Conclusion 15
Legaspi 2
Abstract
This research paper was conducted for future Accountant/CPAs and the
aspiring ones. This study contains facts and experiences of Accountants and CPAs
in the Philippines. As such, Accountancy history in the country to the future
demand in Accounting professionals. That may help students and individuals in
Certified Public Accountants are the lifeblood of every company. They are making
sure that the company is spending right, earning and progressing. Accounting
employment is projected to grow 10 percent from 2016 to 2026, faster than the
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Introduction
This aspiring accountant once dreamt of being a cashier operator at a
grocery store. She is not aware that there are lots of careers that she could take in
the future. Maybe she just loves numbers since that young age. The beeping sound
when the barcode is placed on the scanner as well as the sound of printing receipts.
It was really hard for her to finally come up with the course or track she
would take when she's on the right age. Teaching, Nursing, and Bank Telling, these
all crossed her mind, but then for the love of numbers, she now wants to be an
accountant.
Accountants like her cousins are, she wanted to be one. They helped her to
be in the same track as them. They inspired her, she is enjoying and accepting all
This research paper will be a big help for accounting aspirants like the
researcher. In this era, students are pressured to make up their minds for college
become an accountant.
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This research paper is written for accounting aspirants. They either maybe
students or individuals who are thinking of studying numbers and financial data.
This contains information about becoming an Accountant or a CPA here in the
Philippines or abroad.
This study will be beneficial to students who are considering Accounting as
their course for college. It will cover general information about becoming an
Accountant or CPA. Such as the education process, to what does an Accountant
Data are gathered from online sources, such as Ais-Cpa.com and
information about the profession. Information was gathered from the year 2014 to
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practices started on the year 1700s, but it was recognized by the Philippine
Government by March 17, 1923. Through the Republic Act (RA) 3105, the Board of
Accountancy was created and vested with the authority to issue certificates to
qualified applicants. These certificates serve as proof passing the tough process of
becoming a CPA. Starting from only 43 CPAs from 1923, to over a hundred
thousands of them on today’s time the Act had several changes such as (1) adding 2
subjects for the board exam, (2) the applicant must be a Filipino citizen and does
not have been convicted to any criminal offense and (3) in addition to the 75%
passing rate, the applicant must not have any grade below 65% in any subjects.
A CPA or a Certified Public Accountant, is an accounting professional who
passed the CPA board exam and finished all the education and work requirements.
(Boyd). A Certified Public Accountant is a trusted financial advisor who helps
individuals, businesses and organizations with their plans and financial goals. They
create and audit financial statements, prepares different client tax forms from
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property tax to income taxes. They are recognized as well-respected strategic
different professions in the country, the Republic Act 9298 of 2004 requires an
aspiring CPA to take a written technical examination to measure each’s
Based on the latest Certified Public Accountant Licensure Exam conducted
last 2018, the following are the top 5 schools with overall scores on board exam
performance, accreditation, and faculty-student ratio. With an overall score of
83.95% and 167 total number of takers, the De Lasalle University, Manila ranked 1
with 148 board passers. The institution is accredited as the Center of Excellence in
Accountancy by the Commission on Higher Education. In the other hand, the
University of Santo Tomas obtained an 82.48% overall score. Out of the 471 total
As the K-12 Curriculum has been implemented in the Philippines, students
are now to choose what track they will enroll that is should be in line with the
course they will take in college. According to a website, students should as well
consider environmental factors and the economic situation of the country. On the
be given special attention for the following years. Focusing on Accountancy, the
Philippines will be needing graduates of sciences, business management, applied
The number of Accountants and CPAs are expected to grow in the coming
years. This is due to the demand for Filipino Accountants demand in the ASEAN
Countries continues to grow, according to Alex Malley an Australian CPA. “Filipino
accountants are servicing the requirements of not only Filipino businesses, or the
needs of the country, but also the needs of our neighbors in the world,” Joel
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To gather credible and accurate data, aside from the related articles that are
studied, the researcher conducted a survey to five professionals in the Accounting
Industry.
The Survey
Survey Questions
8. What associations or organizations are you in? (Career or Non Career
Related)
studying/working ?
are those?
15. What are the benefits of taking and passing the CPA Board Exam?
Survey Responses
The survey form is answered by 5 professionals. Three of the professionals
are Certified Public Accountants working at Gatmaitan and Associates as Junior
currently working at ALDA Accounting Services and Accenture Inc. as Junior
What made you choose Accountancy?
business and she said why don’t i take BSA and i answered why not.
What does an Accountant do?
Erika Dio - To Audit and help decide the company in decision making that involves
money
How did Accounting related organizations helped you while studying or working?
Are there challenges that you've encountered while studying/working? What are
those?
Charlz Mascardo - Yes. The school set-up of accountancy is different in the
business.
Erika Dio - It help you to be updated because every now and then PSA is changing.
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Fig. 1 : Based on the data, when asked if their take-home pay per month is
reasonable to the work given to them, 20% of the professionals are not satisfied
with their wages. 80% of the professionals thought that their wage is enough or
maybe enough.
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40% of them agreed that the exam is somewhat difficult. Twenty percent of the
responses said that the exam is not difficult at all and the other 40% describes the
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Conclusion
The researcher learned throughout the research study that Accountants are
very flexible in their industry. As the economy of the country increases then
decreases, the new trends in the services, the growing technology and etc. these
made the Accountants/CPAs never stop learning while working. She thought that
an Accountant only audits the financial account of a client but there are a lot of
things that they are also working on such as Bookkeeping, Tax Compliance, and
Financial Reporting. There are as well different positions a CPA can apply for
starting from the entry-level jobs to Advanced Positions and for the non-passers.
They are also paid fairly and reasonably to the workload given to them. Their wage
is above the minimum wage and for those who passed the CPALE, their wage can
triple.
Being Accountants are able to help individuals, and companies with their
financial decisions make the job more interesting. The only thing that made the
researcher think twice about the career is that Accountants do always have
Despite these odds, the researcher still wants to pursue the said career.
Rather taking a step back, she is more challenged. She asked another additional
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question for encouragement and the responses made the researcher determined.
With persistence, doing your best, keeping on learning and with the support of the
people around you, these professionals made it these far, and they guarantee that
many do it as well.
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Work Cited
Boyd, Kenneth W. “What is a CPA (Certified Public Accountant) And What Do They
2019, https://www.ais-cpa.com/what-is-a-cpa/
David, Christine Bernette C. “Accountancy then and now” Business Mirror, Business
https://businessmirror.com.ph/2018/03/18/accountancy-then-and-now/
http://philcpa.org/2016/08/new-accountancy-tracks-forthcoming/
Hernandez, Zen. “What course will be in demand in the next 5 years?” ABS-CBN
https://news.abs-cbn.com/business/05/05/17/what-courses-will-be-in-d
emand-in-the-next-5-years
Inc.,
https://www.payscale.com/research/PH/Job=Certified_Public_Accounta
nt_(CPA)/Salary/0b20287c/Entry-Level
2019,
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https://www.topaccountingdegrees.org/faq/what-does-an-accountant-do
/
https://www.prc.gov.ph/accountancy
“Republic Act No. 5166” The Lawphil Project, The Lawphil Project,
https://www.lawphil.net/statutes/repacts/ra1967/ra_5166_1967.html
Pulse, 2019,
https://www.localpulse.net/education/top-schools/23-ranked-best-accou
ntancy-schools-in-the-philippines-for-2018-19527/
“Frequently Asked Questions FAQs - Become a CPA” American Institute of CPA,
https://www.aicpa.org/becomeacpa/gettingstarted/frequentlyaskedquesti
ons.html
https://www.bls.gov/ooh/business-and-financial/accountants-and-audito
rs.htm
Talavera, Catherine. “Regional and global demands for Filipino CPAs on the rise”
https://www.manilatimes.net/regional-global-demands-filipino-cpas-rise-
2/297067/