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Educational Requirements
The CPA - Certified Public Accountant certification is one that is hard to be done, but this is the challenge that the accountants wants to encounter as they go along in their dream. Listed below is the education requirements needed before taking the licensure exam for Certified Public Accountant:
Admission Requirements for Examinations. No person shall be admitted to the examination unless he is:
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A citizen of the Philippines
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Has a good moral character
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Is a holder of the degree of Bachelor of Science in Accountancy conferred by a school, college, academy, or institute duly recognized and/or accredited by CHED or other authorized government offices; and Has not been convicted of any criminal offense involving moral turpitude.
Educational Qualifications/Training/ Experiences:
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B.S in Accountancy or its equivalent
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BSC, BBA, BSBA graduates as of Dec. 1994 with certificate of units earned.
2017 Best Philippine Schools to Study Accountancy
Almost every college and university here in the Philippines, specifically in Luzon offers Bachelor’s Degree of Accountancy. Therefore, when choosing a better school around you, people usually look for schools who has a high percentage of passing rate in the licensure exam. This reason will at least help you to decide which school is excellent in the course of Accountancy.
De La Salle University-Manila led the list of the top performing schools offering accountancy undergraduate programs in 2017 with 88.32 percent. University of Santo Tomas followed with 86.42 percent while University of San Jose-Recoletos and University of the Philippines-Diliman ranked third and fourth with 79.08 percent and 78.95 percent, respectively. Ateneo de Davao University landed fifth with 75.97 percent overall score. De La Salle University-Manila is currently Center of Excellence (COE) for accountancy while University of San Jose-Recoletos is accredited as Center of Development (COD), as declared by the Commission on Higher Education (CHED). University of the Philippines-Diliman presently holds neither COE nor COD accreditation status.
Skills Needed
The ability to use critical thinking and problem-solving skills in order to find a solution or complete an exercise. Analytical skill is defined as the ability to visualize, articulate, conceptualize or solve both complex and uncomplicated problems by making decisions that are sensible given the available information
The process of organizing and planning how to divide your time between specific activities. Good time management enables you to work smarter – not harder – so that you get more done in less time, even when time is tight and pressures are high. Failing to manage your time damages your effectiveness and causes stress.
The ability to process text, understand its meaning, and to integrate with what the reader already knows.
Critical thinking has been the subject of much debate and thought since the time of early Greek philosophers such as Plato and Socrates and has continued to be a subject of discussion into the modern age, for example the ability to recognise.
A social skill is any competence facilitating interaction and communication with others where social rules and relations are created, communicated, and changed in verbal and nonverbal ways.
Possible Challenges
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Hard Lessons (For Students)
Hard to understand the lessons.
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Facing failing grades (For Students)
Due to hard lessons that did not understand, student may face this.
A circumstances that you will face. Hard to be fit.
There’s a lot of distraction whether in school or work.
Salary and Job Opportunities
The average salary for an Accountant is Php 22,320 per month in the Philippines. Salary estimates are based on 1,234 salaries submitted anonymously to Indeed by Accountant employees, users, and collected from past and present job advertisements on Indeed in the past 36 months. The typical tenure for an Accountant is 1-3 years
There are many accounting positions that do not require you to have a CPA certification. Listed below are the jobs that you can do to gain work experience while working toward your CPA certification:
Bookkeeping, accounting, and auditing clerks produce financial records for organizations. They record financial transactions, update statements, and check financial records for accuracy.
Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending.
Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry.
Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments.
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.
Management analysts, often called management consultants, propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.
Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.
Postsecondary teachers instruct students in a wide variety of academic and technical subjects beyond the high school level. They may also conduct research and publish scholarly papers and books.
Tax examiners and collectors, and revenue agents determine how much is owed in taxes and collect tax from individuals and businesses on behalf of federal, state, and local governments. They review tax returns, conduct audits, identify taxes owed, and collect overdue tax payments.
Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations.
Local
When it comes to career opportunities and salaries in sectors such as accounting, finance, banking, human resources and IT, there will be “nothing but growth” for the Philippines in the coming year, says a recent survey by an international recruitment company. According to the annual Salary Survey conducted by “specialist professional recruitment firm” Robert Walters, salaries for candidates changing jobs in the aforementioned fields in the country will grow at a rate of 20 to 40 percent in 2018, a finding similar to the results of the previous year’s survey.
You can check out this video:
Sources
Accountants and Auditors : Occupational Outlook Handbook: : U.S. Bureau of Labor Statistics. (2018, April 13). Retrieved May 4, 2018, from https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm#tab-8
Bragg, S. (n.d.). What is an accountant? Retrieved May 11, 2018, from https://www.accountingtools.com/articles/what-is-an-accountant.html
Tayao-Juego, A. (2017, December 4). Career opportunities continue to knock in PH | Inquirer Business. Retrieved May 11, 2018, from http://business.inquirer.net/241883/career-opportunities-continue-knock-ph
Website. (n.d.-a). Retrieved May 4, 2018, from http://www.localpulse.net/education/top-schools/20-best-accountancy-schools--the-philippines-for-2017-17022/
Website. (n.d.-b). Retrieved May 4, 2018, from . http://www.geemiz.com/accounting/accounting-guidelines
Video: Youtube.com