IMPLEMENTING RULES AND REGULATIONS (IRR)IN THE CONDUCT OF THE

REGIONAL MID-YEAR ACCOUNTING

QUIZ BEES (MAQ)IN THE 11TH REGIONAL MID-YEAR CONVENTION

SEPTEMBER 23-25, 2012

IRR 1.0 GENERAL GUIDELINES

IRR 1.1 The Regional Mid-Year Convention shall consist of different quiz bees that cover CPA Board Subjects.

IRR 1.2 The Regional Mid-Year Accounting Quiz Bees (MAQ) is open for application to Accountancy or Accounting students who are bona fide members of the NFJPIA Region One and CAR F.Y. 2012-2013.

IRR 1.3 The Mid-Year Accounting Quiz Bees in the MYC shall be: 4th SGV & Co. Cup 4th CAT Cup Series Meet the Standards Quiz Bowl NCPAR Cup Presidents’ Cup NFJPIA Region 1 and CAR Auditing Wizard

IRR 1.4 The Local Chapters must send at least 3 participants to a maximum of five (5) for each accounting quiz bee.

IRR 1.5 Each participant is given the privilege to join a maximum of three (3) Mid Year Academic Quiz Bees in the RMYC.

IRR 1.6 Local Chapters have the prerogative to choose the contestant/s that would best represent their school.

IRR 1.7 The 4th SGV & Co. Cup will cover all CPA Board subjects.

IRR 1.8 The CAT Cup Series will cover the following subjects:

CAT Cup Level I Basic Accounting Financial Accounting

CAT Cup Level II Cost Accounting Management Advisory Services

CAT Cup Level III Payroll Accounting Philippine Taxation

IRR 1.9 The Meet the Standards Quiz Bowl will cover Philippine Financial Reporting Standards (PFRS)

IRR 1.10 The NFJPIA Region 1 and CAR Auditing Wizard (formerly 2nd Ismael Cup) will cover the following:

Auditing Theory Auditing Problems

IRR 1.11 The Presidents’ Cup will cover Basic Accounting and General Knowledge

IRR 1.12 The NCPAR Cup (formerly NFJPIA Region One and CAR Accounting Wizard) will cover

All CPA Board subjects

IRR 2.0 QUALIFICATIONS

IRR 2.1 A qualified contestant for the Regional Mid-Year Accounting Quiz Bees must be an accountancy or accounting student of any year level provided that he/she had passed the pre-requisite course subjects which cover the topics of the particular quiz bee he/she will be joining. The Presidents’ Cup is open to Local Chapter Heads only.

IRR 2.2 Switching of contestants representing a local chapter for any particular quiz bee shall be allowed, provided that they have notified the Vice President for Academics during the registration phase of each quiz bee, and that the

switching contestants have submitted their complete requirements on the dates specified in this Implementing Rules and Regulations.

IRR 2.3 Walk-in participants for any quiz bee shall not be entertained.

IRR 3.0 REQUIREMENTS

IRR 2.2 Each contestant must comply with the following requirements:

A. Duly accomplished application form from the NFJPIA-Region 1 and CAR Vice President for Academics.

B. Endorsement Letter certifying that he is the official representative of his respective local chapter signed by the respective Local Chapter Vice President for Academics/Vice President for External Affairs and Local Chapter President, noted by their JPIA Adviser/ Dean.

C. Recent copy of grades authenticated by the Office of the Registrar.

D. Copy (photocopy/print) of registration form from his respective school certifying that he is currently enrolled in their school’s current semester or term (1st Semester of the Academic Year 2012-2013)

IRR 2.3 The duly accomplished application form (requirement A) must be sent to r1car.acads.spungtilan@gmail.com on or before September 7, 2012. The e-mail’s subject should be named after their respective Local Chapter.

IRR 2.4 All other requirements (requirements B, C and D) must be submitted on or before September 14, 2011. The e-mail’s subject should be named after their respective Local Chapter.

IRR 2.5 The release of official pre-registered list will be posted on the NFJPIA Region 1 and CAR Facebook page on September 8, 2012. The Local Chapters will be given until September 11, 2012 to raise protest and concern regarding the pre-registration of their contenders. The final and official list of pre-registered contestants will be posted on September 15, 2012 at our official Facebook page.

IRR 2.6 Failure to submit complete requirements on time would tantamount to disqualification.

IRR 3.0 GENERAL CONTEST RULES AND MECHANICS

IRR 3.1 Questionnaire Distributors (QD) shall be composed of the NFJPIA Region 1 and CAR Executive Officers and Standing Committee for Academics.

IRR 3.2 Contestants must be at the venue at least 15 minutes before the event. When a contestant is not in his assigned seat once the questionnaires are already distributed, he/she shall be considered late. Latecomers shall be disqualified.

IRR 3.3 Contestants must be in corporate/ business attire during their respective academic competitions. Failure to be in the said attire should be a ground for disqualification.

IRR 3.4 A Judge or Board of Judges shall be (a) Certified Public Accountant(s) for the purpose of giving an intelligent and independent decision.

IRR 3.5 Any member of the Board of Judges and Question Distributor shall be vested with the power to give sanction to any contestant he/she has witnessed violating any of the said provisions in this Implementing Rules and Regulations. The violation called by the Question Distributor, to be valid and effective, must be subject for approval of the Judge, or majority vote of the Board of Judges. If one of the members of Board of Judges calls the violation, it is deemed valid and effective.

IRR 3.6 In case there is a violation called by the authority, announcement of such should be addressed after announcing the contestants who got the correct answer.

IRR 3.7 The Judge/Board of judges shall have the sole and exclusive authority to clear or answer any protest/clarification made by the contestant or his respective coach. The Judge’s/Board of Judges’ decision is final and irrevocable.

IRR 3.8 Each Local Chapter is privileged to have one (1) registered coach only per competition. The coach must register and sign in the provided registration sheet by the Standing Committee for Academics during the registration phase on the 1st day of the 11th Regional MYC and before the start of each competition. Once the quizmaster starts reading the 1st question in the easy sub-set round, the registration for coaches shall be closed. Thus, any concern, protest, or clarification made by an unregistered coach shall not be entertained by the Judge/ Board of Judges.

IRR 3.9 The contestant and his registered coach are the only persons who have vested rights to raise protest and clarification.

IRR 3.10 Before proceeding to the next question, an allotted time of ten (10) seconds will be given for the contestants to decide whether they want to raise a protest/clarification, to request for new marker, pen or scratch paper, to change their calculator if it encounters a technical problem, or other concerns. After the allotted time has elapsed and the quizmaster starts reading the next question, no more protest, clarification, or concern will be entertained.

IRR 3.11 Any contestant caught cheating is considered disqualified in the competition.

IRR 3.12 In case of a tie at the end of the game, tie breaker question/s shall be asked until the deadlock is broken. Tie breaker question/s shall have no bearing on the cumulative score of the contestant. Whoever gets the right answer and raises his answer board first shall advance to the next round or otherwise be declared the winner.

IRR 3.13 All theory questions and problems requiring computation will be read once.

IRR 3.14 After reading the contest rules and mechanics, contestants are given the chance to raise question/clarification regarding the said rules and mechanics.

IRR 3.15 In case of any concern, clarification, or protest which is not governed by the Implementing Rules and Regulations (IRR) of the said provision, the Regional Vice President for Academics shall have the absolute power to decide, upon consultation to the Board of Judges and/or Regional Adviser, on matters which she deems necessary to preserve and protect the integrity of the event. Her decision is final and irrevocable.

IRR 3.16 Each event shall be composed of three (3) sub-set levels namely: Easy, Average, and Difficult. The corresponding points, time allotment, and no. of questions for MAQ shall be as follows:

EASY AVERAGE DIFFICULT CLINCHERTheory Question 10

seconds10

seconds10

seconds10

secondsProblem requiring

Computation15

seconds30

seconds45

seconds20

secondsNo. of Items 10 10 10 -

Corresponding Points 3 5 7 0

IRR 3.17 Contestants shall be provided with a copy of the question for every item. The contestants must not flip and read the question until the quizmaster announces the question number. Any contestant who violates the said provision for the 2nd time shall be given sanction of accumulating only 50% of his total score garnered in all rounds. Violation of this provision for the 3rd

time shall mean disqualification of the contestant.

IRR 3.18 The contestants are allowed to solve and touch their calculator only when the quizmaster says “GO!” Any contestant who violates the said provision for the 1st time shall be given a warning; for the 2nd time shall be given sanction of accumulating only 50% of his total score garnered in all rounds. Violation of this provision for the 3rd time shall mean disqualification of the contestant. On the other hand, each contestant is given the privilege to start writing on the scrap paper provided for them while the Quiz Master is reading the question.

IRR 3.19 The contestants should have written their answers before the time allotted has elapsed. They must raise their answer boards once the quizmaster says so. Any contestant who fails to comply will receive a warning and his answer may be forfeited depending upon the decision of the Board of Judges.

IRR 3.20 The winners shall be declared as 3rd placer, 2nd placer and Champion.

IRR 3.21 The top 2 winners in the 4th SGV & Co. Cup and the Meet the Standards Quiz Bowl shall be sent to the NFJPIA National Mid- Year Convention (NMYC) to represent the NFJPIA Region One and CAR in the national competition. The champions for each level in the 4th CAT Cup Series shall also be sent to the NMYC to represent their respective local chapters in the national competition. Their registration fee in the National Mid- Year Convention shall be shouldered by the Regional Council.

IRR 3.22 The NFJPIA Region 1 and CAR Council shall have the right to interpret the rules and mechanics.

IRR 4.0 SPECIAL REGULATIONS IN THE CONDUCT OF 4TH CAT CUP SERIES

IRR 4.1 Each level of the 4th CAT Cup Series is considered as one (1) quiz bee. Thus, there will be three (3) MAQs for the said Cup.

IRR 4.2 The top three (3) winners for each CAT Cup Level shall be awarded as the Champion, 2nd Placer, and 3rd Placer.

IRR 4.3 For the purpose of determining the title holder of the 4th CAT Cup Series, the accumulation of points shall be used. Shown below shall be the pointing system to be used:

Champion - 10 points 2nd Placer - 7 points 3rd Placer - 5 points

The local chapter (LC) who earns the highest score will be declared as such. In case of a tie, the following shall be used to determine the overall champion (in order of priority):

1. The LC who has accumulated the most number of 1st Placers shall be granted the right to be the title holder of the 4th CAT Cup Series.

2. The LC who has garnered more of the 1st placers and 2nd placers shall bring home the said Cup.

3. The LC who has garnered more of the 1st placers, 2nd placers and 3rd

placers shall bring home the said Cup. 4. Accumulated points in all levels shall be considered in determining

the title holder of the 4th CAT Cup Series.

IRR 4.4 The CAT Cup title shall revolve annually. The revolving CAT Cup Title shall be received by the local chapter and not by the contestant.

Prepared by:

SOLLYNETH N. PUNGTILANRegional Vice President for AcademicsNFJPIA Region One and CARFY 2012-2013r1car.acads.spungtilan@gmail.com0905.875.9247

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