Free Downloadable Items

+ RAMO 1-2000 Revenue Audit Manual - the Handbook on Audit Procedures and Techniques (Volume I) in the audit of tax returns. The Handbook is intended to provide revenue officers with minimum standard procedures and a uniform guideline for the proper examination and/or investigation of tax liabilities. This updated version was prepared in order to conform with the provisions of the Philippine Tax Reform Act of 1997.

+ 2015 Your Guide to Starting a Small Enterprise - This publication, Your Guide to Starting a Small Enterprise, looks at how a small enterprise evolves from a mere business idea until the enterprise is born. It is a step-by-step guidebook that walks the reader through a systematic way of putting up a small business. It is a light and easy to read and the language is simple. 

+ Philippine Government Internal Audit Manual - This Manual is being issued to assist Departments, Government-Owned and/or -Controlled Corporations, State Universities and Colleges, Local Government Units and other agencies of government in establishing, and thereafter strengthening, the internal audit function in their institutions.

PFRS for Small Entities - This Philippine Financial Reporting Standard is intended for use by micro and small enterprises as defined by the Philippine Securities and Exchange Commission instead of using the PFRS for Small and Medium Sized Entities (PFRS for SMEs). Based on SEC Memorandum Circular 5-2018, an entity is considered a small entity if, and only if, it satisfies ALL of the following criteria: (a) It has total assets or total liabilities between Php3,000,000 to Php100,000,000. If the entity is a parent company, the said figures shall be based on the consolidated amount; and, (b) It does not have public accountability. Not having public accountability simply means that the shares of the business is not traded in any stock exchange, and it is not in the process of offering its shares to the public through an initial public offering. It must also not have any secondary licenses from SEC. However, any of the conditions listed below will exempt an entity from using the PFRS for Small Entities: (a) A small entity has a different functional currency (i.e., it operates in the Philippines, but prepares its financial statements in a different currency, say, US dollar); or, (b) A small entity is either: (i) a part of a group reporting under a different reporting standard (i.e., PFRS for SMEs or full PFRS); (ii) a branch of a foreign company reporting under a different reporting standard; (iii) expected to breach the threshold significantly for the following reporting periods; or (iv) a liquidating concern which has prepared its financial statements using a different reporting standard.

PFRS (/IFRS) for Small and Medium-Sized Entities (PFRS for SMEs) - This Philippine Financial Reporting Standard is intended for use by entities classified as medium-sized enterprises. Based on SEC Memorandum Circular 5-2018, an entity is considered a medium-sized entity if, and only if, it satisfies ALL of the following criteria: (a) It has total assets of more than Php100,000,000 to Php350,000,000 or total liabilities of more than Php100,000,000 to Php 250,000,000. If the entity is a parent company, the said figures shall be based on the consolidated amount;  (b) Are not required to file financial statements under Part II of SRC Rule 68; (c) Are not in the process of filing their financial statements for the purpose of issuing any class of instruments in a public market; and, (d) Are not holders of secondary licenses issued by regulatory agencies.


0 Comments