View
229
Download
2
Category
Preview:
Citation preview
#PICPAgram
Official Publication of PICPA- Cebu | “Level up, build the future.”
MEET OUR NEW PICPA CEBU OFFICERS
CEBU 4
SUMMIT
PICPA TH
inside:
JULY-SEPTEMBER 2016 VOLUME 2 ISSUE No. 1
MAJOR THROWBACK
PAST PRESIDENTS’ NIGHT relive the greatness on PICBOOK
ACCOUNTANCY WEEK on JUNIORS’ CORNER
CATCH ‘EM ALL!
Dear PICPAns,
Leading a large and dynamic organization like
PICPA - Cebu Chapter is truly a big challenge.
Nevertheless, I have accepted this challenge
because I know that I am not alone in doing the
necessary work. Aside from the hardworking
secretariat of PICPA-Cebu, I can also count on the
unwavering support of my fellow officers, past
presidents and members who have unselfishly been
serving PICPA without counting the cost.
PICPA’s theme for this year is
LEVEL UP “ ”
Although PICPA is already a great organization, the
theme suggests that there is still much that can be
done to move the organization to a higher level,
amidst the new regulations and many changes in the
business environment. In line with the theme, we
ought to be proactive and forward-looking in the
way we do things for the organization. We shall be
responsive to the needs of our members, and
undertake programs that will continue to benefit
them even beyond the term of incumbent officers.
EL PRESIDENTE
1
continue on page 2…
WENDELL D. GANHINHIN VP Professional Development
WILLIAM C. ACOSTA Sectoral Dir. – Public Practice
ROSEMARIE V. JACALAN Sectoral Dir. – Education
DEXTER JOSEPH B. CUEVAS PRO
MARIA ASUNCION A. BENLOT VP Administration
MARISSA M. BALDECIR Assistant Secretary
KATHERINE MAE S. MIGRIÑO Assistant Treasurer
GERALD B. SAGARINO President Elect
EDLENNE FATIMA D. ALVEZ Secretary
VENENCIO A. OYANGOREN, JR Treasurer
CONCEPCION R. RACAZA VP Membership Development
DOMINGO DENNIS A. MENDOZA, JR. Sectoral Dir. – Commerce & Industry
CEDRIC VAL R. NARANJO Sectoral Dir. – Government
MA. DOLORES P. TAMPUS Auditor
FY 2016-2017 PICPA CEBU OFFICERS
2
DR. EDGAR R. DETOYA President, PICPA Cebu Chapter
“It is our goal to have more involved and more
informed members”
(continued from page 1)
Since the well-attended PICPA-Cebu Summit last July 2016, PICPA-Cebu has already
organized several seminars to serve the professional development needs of the members, and to
enable them to meet the accreditation requirements. While most participants in these seminars
are from Public Practice and Commerce and Industry, we endeavor to reach out to more
accountants in the Government and Education sectors. We shall establish some schemes to engage
more members of PICPA-Cebu in all sectors. We shall also help ensure that everyone is always
apprised of any recent pronouncement, regulation or development affecting the Accountancy
profession. So please do not wonder if you have been receiving more emails from PICPA this year.
Last September 2, 2016, we launched the Good Governance
Advocacy Cooperative (GGAC) whose goal is to promote cooperativism,
good governance and social entrepreneurship among PICPAns. And on
October 22, 2016, we started a basketball tournament involving the
participation of teams from different accounting firms and companies.
Aside from the health benefit that the sport provides, it also promotes
teamwork and camaraderie among the participants.
In the coming months, we shall continue our work to engage more
members not just in meetings and seminars, but also in the other
worthwhile activities of PICPA. Let us all be involved with PICPA if we truly
want to level up.
“Embracing Changes,
Pursuing Excellence”
3
4TH PICPA CEBU SUMMIT
by EDGARDO B. ABREGANA, JR.
H eraclitus once said that the only thing that is constant is change. Just recently, we frequently hear the phrase “change is coming”. A compelling question therefore arises:
Are CPAs ready for change? Are CPAs ready for the future?
Change is the core idea of the 4th PICPA-
Cebu Summit successfully held at Radisson Blu Hotel last July 22, 2016 with the theme: “Embracing Changes, Pursuing Excellence”. Participants of the Summit earned an 8 CPD units-certification, a bag full of give-aways, and edifying insights from distinguished resource speakers.
The keynote speaker was no less than Cebu
Vice-Governor Agnes Magpale, who notably arrived quite early on that day. She enjoins all PICPAns to support and embrace the changes under the current government administration. She pointed out that CPAs are particularly affected and should help support the institution of “Tax Reform” which is one of the 10-point socioeconomic agenda of President Rodrigo R. Duterte. She re-echoes the President’s order to cut the bureaucratic red-tape which is a fertile area for CPAs working in the government to improve. The Vice governor’s speech ended with praise for PICPA-Cebu’s willingness to embrace changes affecting the profession.
Prominent speakers from different
accountancy sectors were invited to share their thoughts on the roadmap while embracing changes and excellence in the accountancy profession. Dean Estelita Aguirre (President, Asian Institute of Taxation), Atty. Lindeza Gavino (SEC Cebu Director), Mr. Raymund Java (MEPZ Information Officer), Mr. Christian Lauron (Partner, SGV) Atty. Neri Yu (Chief BIR 13 Legal Division), Dean Jonathan Capanas (USJ-R School of Law), Atty. Euney Mata - Perez (Managing Partner, Mata-Perez and Francisco), BOA Chairman Joel Tan-Torres and Ms. Phoebe Kaye Fernandez (ABS-CBN host and talent) were among those invited.
One of the highlights of the 4th PICPA-
Cebu Summit was the induction of the new set of board of directors for the fiscal year 2016-2017. Immediate Past President Lourdes Cambonga presented a video clip of the unforgettable moments during her term of office. She prided over her projects which include the reactivation of scholarship program, professionalization of PICPA-Cebu Office and the reactivation of PICPA’s newsletter named “PICPAGram”. A ceremonial turn-over of gavel of leadership ensued. A leadership award was presented to Cambonga by new PICPA President Edgar Detoya. The new President aims to achieve, during his term, the accreditation of local resource speakers in Cebu, activation of local chapter of ACPAE, enhancing linkage with local accountants in the government sector, and the creation of Good Governance Advocacy Cooperative (GGAC).
The 4th PICPA-Cebu Summit culminated with an exciting raffle for prizes comprising of perishable goods, appliances and overnight stay in hotels, among others
.
SEC Cebu City Extension Office with Dir. Lindeza R. Rogero-Gavino.
COURTESY CALLS
PICPA-Cebu Officers with Gov. Hilario P.
Davide III at the Cebu Provincial Capitol. PICPA-Cebu officers at the office of
Cebu City Mayor, Hon. Tomas Osmeña.
Mr. William C. Acosta, PICPA Cebu’s Sectoral Director for Public Practice goes for a strike
during the PICPA Bowling Competition.
Resource Speaker, Mr. Elirie Aranas during the seminar on 2016 PFRS
Updates.
Dr. Edgar Detoya to the Chapter’s Past Presidents during the Past President’s
Night held at the Casino Español de Cebu last August 12, 2016.
Induction of the PICPA Cebu Foundation Officers and Board of Trustees
Chairpersons of the different committees sworn to oath during the induction Ceremony of PICPA-Cebu Chapter Committee Chairpersons
last August 12, 2016 held at the Casino Espanol de Cebu.
Dean Estelita receives her token as one of the resource speakers during the 4th PICPA Cebu Summit last July 22, 2016. (L-R) Ms. Odette
Cambonga, Dean Estelita C. Aguirre, Mr. Edgar Detoya.
Dean Estelita Aguirre with PICPA Cebu officers during the seminar on How to become a
Successful Agent and Tax Update conducted last September 2, 2016.
Mr. Marco L. Ng, Resource speaker on the Financial Statements Compilation Engagements, receives his token and
Certificate of Appreciation.
PICPA Cebu Officers and delegation from Minerva & Company
CPAs posed during the PICPA Bowling Competition
Scintillating Dance Presentation from the
2016 Accountancy Week Dance Palabas Champion during the 4th PICPA Cebu Summit at the Radisson
Blu Hotel held on July 22, 2016.
PICPANs convene for the 4th PICPA Cebu Summit held at the
Radisson Blu Hotel
Managing Tax Assessment and Collection Seminar held last September 16, 2016 (L-R) Ms. Rosanna Arcenas, Ms. Sheena
Dano, Atty. Cha Mandap-De Veyra, Mr. Wendell Gahinhin, and Mr. Edgar Detoya.
PICPA CEBU PRESIDENTS THROUGH THE YEARS
JUNIORS’ CORNER
6
The accountancy week celebration is
considered one of the most sought-after events among
students and professionals. It kicked off with a grand
opening parade from Fuente Osmeña to Cebu Coliseum
last July 17, 2016. The opening salvo was well attended
by different JPIAn students composing the Cebu
Federation – Junior Philippine Institute of Accountants.
Their outcry was
“DASIG CF JPIA: Advocating Excellence,
Surpassing Barriers”.
CPAs in different sectors were equally represented.
Participating guests were welcomed with a
Zumba dance routine which hyped the entire coliseum.
A Eucharistic celebration was also offered on that same
day. Tribal music filled the coliseum as everyone
rejoiced during the opening salvo.
Guests were welcomed by the new president of
PICPA – Cebu, Dr. Edgar R. Detoya. The Accountancy
Week 2016 was formally opened by Sugar B. Sagarino,
the overall chair of the accountancy week celebration.
The long week celebration showcased different
activities such as Inter-school Exam Challenges and
Speechfest, annual accounting quizbowls, bowling
tournaments, PICPA – Cebu Courtesy call to various
government offices, 4th PICPA – Cebu Summit and
community outreach program in Brgy. Bon-Bon, Cebu
City.
The closing and awarding ceremonies were held
in University of San Carlos last July 23, 2016.
CF JPIA is composed of 14 different local
chapters namely, AMA Computer Learning Center,
Benedicto College, Cebu Institute of Technology-
University, Cebu Roosevelt Memorial College, Lyceum
of Cebu, St. Theresa’s College, Southwestern
University, University of Cebu – Main, Univesity of
Cebu – Banilad, University of Cebu – Lapu-lapu and
Mandaue, University of San Carlos, University of San
Jose- Recoletos, University of Southern Philippines
Foundation and University of the Visayas.
ACCOUNTANCY
WEEK 2016
by PRETTI ALBERTO
7 7
school pride! school pride! school pride!
7
accountancy week opening
Amendment on Mandatory Documentary Requirements for One-Time Transactions
involving Transfer of Real Property Tuesday, November 8, 2016
Revenue Memorandum Order (RMO) 15-2003 prescribes the
guidelines, procedures and checklist of requirements for one-time
transactions (ONETT) and the issuance of Certificate Authorizing
Registrations (CARs). A CAR is a proof that taxes due on transfers of
real property have been correctly paid.
Later, the Bureau of Internal Revenue (BIR) issued, Revenue
Memorandum Circular (RMC) 76-2007 mandating as an additional
requirement the certified true copy of the original CAR (copy of the
Registry of Deeds) pertaining to the transfer of property preceding the
current sale or transfer.
Recently, the BIR issued RMC 105-2016 providing that this previous
CAR when the property was originally acquired shall no longer be
required in processing ONETTs involving transfer of real property and
the issuance of eCARs.
Please be guided accordingly.
Source:
P&A Grant Thornton Certified Public Accountants
Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton International Ltd.
Revised General Information Sheet (GIS) and
Notification Update Form (NUF)
Tuesday, November 8, 2016
Corporations will be required to use the revised GIS and NUF beginning
January 2017. The following are the revisions on the said forms:
1. In the GIS, the Tax Identification Number (TIN) of the Board of Directors/Trustees, Officers and Stockholders of domestic corporations and Resident Agent and Officers in the Philippines of foreign corporations shall be indicated in a separate sheet designated as the TIN Page;
2. In the NUF for foreign corporations, the TIN of Officers shall be accomplished in a separate sheet designated as the TIN Page;
3. The residential addresses of the Directors/Trustees, Officers and Stockholders on page 3 and 4 of the GIS for stock and non-stock corporations and Resident Agent and Officers in the NUF for foreign corporations shall likewise be indicated in the TIN Page; and
4. The Corporate Secretary’s certification of the GIS for stock and non-stock corporations, aside from the penalty of perjury and revocation for failure to file GIS, shall now include a statement that the persons indicated as members of the board of directors/trustees and officers of the corporation had consented to be nominated and elected.
BENEFITS OF GOOD GOVERNANCE | 8 CPD Units, Thematic Area 3 Mr. Jesse Rey L. Meneses | 8:00 – 5:00 pm | Cebu Parklane International Hotel OCT 5
OCT 6 WORKSHOP ON INTERNAL CONTROL | 8 CPD Units, Thematic Area 2
Mr. Jesse Rey L. Menees | 8:00 – 5:00 pm | Cebu Parklane International Hotel
OCT 15 VGAO LEADERSHIP TRAINING Mr. Jovenir Bataican | Cebu Parklane International Hotel
OCT 21 MANAGING COST EFFECTIVELY | 8 CPD Units, Thematic Area 4 Dr. Cesar A. Mansibang | 8:00 – 5:00 pm | Cebu Parklane International Hotel
OCT 22 PICPA CEBU BASKETBALL TOURNAMENT OPENING AND TUNE-UP GAME
3:00 – 5:00 pm | USP-F Gym
OCT 28 MANAGING WORKPLACE CONFLICT | 8 CPD Units, Thematic Area 5 Dean Danny A. Cabulay | 8:00 – 5:00 pm | Cebu Parklane International Hotel
NOV 9 BOA UPDATES/PROFESSIONAL ETIQUETTE | 6&2 CPD Units, Thematic Areas 1&5 respectively
Mr. Eric J. Magcale | 8:00-5:00 pm | Cebu Parklane International Hotel
NOV 10 PHILIPPINE STANDARDS ON AUDITING UPDATES | 8 CPD Units, Thematic Area 2 Mr. Eric J. Magcale | 8:00 – 5:00 pm | Cebu Parklane International Hotel
NOV 16-18 COOPERATIVE EXTERNAL AUDITORS ACCREDITATION | 24 CPD Units, Thematic Area 4 Ms. Fe Caingles, Ms. Nonie Hernandez, Ms. Ma. Elma Ame | 8:00-5:00 pm | Cebu Parklane International Hotel
NOV 19 FS ANALYSIS/INTERPRETATION AND DIFFERENCES BETWEEN US GAAP & IFRS | 8 CPD Units, Thematic Area 2
Mr. Edman Flores, Mr. Hilario Tan | 8:00 – 5:00 pm | Diamond Suites Hotel
NOV 21 OATHTAKING AND INDUCTION OF NEW CPAs
3:00-10:00 pm | City Sports Club
NOV 24-26 71st ANNUAL NATIONAL CONVENTION | DAVAO CITY
DEC 2 PROBLEM SOLVING AND CREATIVE DECISION MAKING FOR PROFESSIONALS | 8 CPD Units, Thematic Area 5
Prof. Maria Theresa Requilman | 8:00-5:00 pm | Cebu Parklane International Hotel
DEC 9 WORKSHOP ON VOLUNTARY QUALITY ASSURANCE REVIEW PROGRAM MODULES | 8 CPD Units, Thematic Area 3
Mr. Elirie S. Aranas | 8:00 – 5:00 pm | Cebu Parklane International Hotel
DEC 13 MAYOR’S PERMIT, SSS, PHILHEALTH, PAG-IBIG AND YEAR-END TAX UPDATES, CHRISTMAS PARTY
1:00-9:00 pm | Cebu Parklane International Hotel
PUBLICATIONS COMMITTEE
EDITORIAL CONSULTANTS
EDGAR R. DETOYA
LOURDES O. CAMBONGA
GERALD B. SAGARINO
EDITORIAL BOARD
DEXTER JOSEPH B. CUEVAS
Editor-in-Chief
Members:
DOMINGO DENNIS A. MENDOZA, JR.
Commerce and Industry
ROSEMARIE V. JACALAN
Education
CEDRIC VAL R. NARANJO
Government
WILLIAM C. ACOSTA
Public Practice
Staff:
Jamilah A. Panantaon Deputy Editor
Jesfil U. Paraz Deputy Writer
Charlene E. de Castro Graphic/Layout Editor &
Deputy Writer
Richelle Eve B. Baquerfo Graphic/Layout Editor
Recommended