 
Mga fellow accounting majors sensya na kung medyo matagal-tagal din walang updates tong site nato.. marami lang kc ginagawa! Well, alam nyo na yun.. Pero dont wori kc pang second version na tong ginagawa ko ngyon. ummm.. magulo pero you'll lyk it. I want to call it Freestyle Blogging o sa tagalog eh.. labo-labo.
Starting dis 2nd semester we'll be posting lahat ng may kinalaman sa accounting! Yup.. tama ang nabasa mo. Basta accounting o kahit anong kinalaman sa topic na to eh "in" d2. You can send ur contributions sa jpiasbc@yahoo.com para lumabas ang mga articles nyo. =)
December4
Careers in Accounting
by: shockwave
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The information explosion has increased the need for professionally educated accountants!!!
Success in an accounting career requires skill in oral and written communications, the ability to work with others and the ability to think abstractly and solve problems logically.
Career Paths Available to Accounting Graduates:
Public Practice
Business and Industry
Government
Not-For-Profit
Education
more
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December1
Clown Princes of Accounting
by: shockwave
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Accountants, it was widely said, are dependable but boring. This turned out to be a low-down double lie. They are not all that dependable, really. And they can be hilarious.
They say, for example, that there is no widespread problem of wacky bookkeeping, just "a few bad apples" in the business. Even six months ago, this was a cheeky line: Nearly 1,000 firms were forced to admit misstating accounts in the five years that ended last December. But after Enron, Global Crossing, Adelphia, Xerox and WorldCom, the few-bad-apples crack is right up there with Monty Python as a classic of absurdist humor.
more
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NOVEMBER 30
Dear .....
by: X
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Kamusta ka na? Matagal-tagal na rin tayong 'di nagkikita. Kamusta na ang mga klase mo? Takot pa rin ba sila sayo? At kamusta naman ang mga kasong hinahawakan mo? Sana maipanalo mo silang lahat.
Namiss na kita, pare. Miss ko na ang mga tanong m o sa akin na halos ikaw lang ang nakakaalam ng sagot. Miss ko na ang mga sagabal mong tawag sa cellphone mo. Sana masabihan mo na sila na huwag kang gambalain sa oras ng klase. Miss ko na ang mga dala mong buko pie at Royal Dalandan. Mahilig ka pa rin bang kumain sa harap ng mga estudyante mo? At higit sa lahat, miss ko na ang boses mo. Isang tinig na malalim at buong buo na hanggang ngayon ay para bagang nagsasabing: "That will do, Mr. X."
Nais ko sanang mabatid mo na wala akong galit sayo. Wala akong pakialam kahit na binagsak mo ako kahit na hindi ako karapat-dapat na bumagsak. Ikaw pa rin ang idol ko, at sana, magkita muli tayo... tutal naman, hinde ako nagmamadali.
Nagmamahal,
X (That will do...)
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NOVEMBER 27
Who was the First Accountant? (Part 4)
by: shockwave
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Josiah Wedgwood, 1730-1795
Josiah Wedgwood is well known as a potter and as grandfather of Charles Darwin. His research of materials, use of skilled labor and successful business organization made him a leader of the Industrial Revolution. At a time known for the craft of pottery, Wedgwood became a pottery manufacturer, a pioneer in production. He established his first pottery works in 1759, beginning with an improved cream colored earthenware later called "queensware". In 1782 his was the first factory in the industry to install a steam engine.
William Cooper and the Cooper Brothers: The Birth of a Profession
William Cooper started as a clerk for Quilter Ball and Company in London. He left in 1854 to establish his own accounting practice. He was later joined by three brothers to form Cooper Brothers & Co. in 1861. In the beginning the primary job was the preparation of accounts and the balance sheets of public companies, especially those in bankruptcy. The Bankruptcy Act of 1869 increased the accountants' role in bankruptcy and liquidations.
(to be continued...)
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NOVEMBER 26
New Bedan CPAs
by: shockwave
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Anunciacion, Rico H.
Atamosa, Von Francis D.
Ave, Villurbane C.
Balleras, Paolo Nicolas D.
Borja, John Mark M.
Cablao, Vincent A.
Chio, Jayson T.
Co, Benedict Anson P.
Cruz, Jeremy L.
Francisco, Robert Emmanuel R.
Garcia, Marc Arthur C.
Gemzon, Ericson Jr. C.
Guia, Mark Benedict M.
Jalandoni, Paul John C.
Marquez, Reynaldo Jr. Q.
Morales, Benson Ray E.
Nolasco, Angel C.
Olavere, Erwin N.
Saldua, Mark L.
Sio, John Saint-Michael C.
Sulit, Dandy Rey S.
Timajo, Berlin M.
Umali, Rodel H.
Valmonte, Joseph Aldren H.
Velasco, Daniel III M.
Villar, Wilson G.
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NOVEMBER 25
Who was the First Accountant? (Part 3)
by: shockwave
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Amatino Manucci, 1200-1350
The evidence suggests that double entry bookkeeping was an invention of Italian merchants in the Genoa-Venice-Florence triangle in the 1200-1350 period, a Commercial Revolution [Mills, 1994]. Not a single individual, but recordkeeping that met the needs of the particular merchant house. As business expanded and complexity increased, at least some merchant firms increased the sophistication of the accounting records. Accounts prepared by Amatino Manucci, a partner in the Florentine firm of Giovanni Farolfi and Company are among the few that have been recovered and analyzed.
Lucia Pacioli, The Father of Accounting, 1447-1517
Pacioli's Summa is the first known complete description of double entry bookkeeping. Three books were to be used: memorandum book, journal, and ledger. Journal entry postings from the memorandum book required debits on the left and credits on the right. Although many currencies existed, Summa required that all entries be translated to a single monetary unit. A trial balance was necessary when the books were closed. The balances from the profit and loss account were entered in the capital account. In other words, Summa described a system remarkably like modern bookkeeping.
(to be continued...)
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NOVEMBER 24
Who was the First Accountant? (Part 2)
by: shockwave
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Marion the Sumerian, the Inventor of Writing, 3200 B.C.
Recorded history can be traced to Sumerian city-states including Uruk and Ur, possibly the birthplace of writing. Scribes scratched signs on damp clay tablets with pointed sticks. Initially pictographs or stylized representations, these became standardized into cuneiform writing (Latin for wedge, not a Sumerian term). The process may have been a continuation of the token system developed in earlier millennia. These scribes were bookkeepers, the scratchings records of temple wealth, records of tribute based on a barter system.
Jerome of Rome, 50 B.C.
Littleton [1973] identified seven antecedents to bookkeeping: private property, capital, commerce, credit, writing, money, and arithmetic. All were developed in ancient times (arithmetic may not have been fully developed) and available to Roman merchants and bureaucrats. Patrician families seem to have kept records in memo form ("adversaria") and in ledgers (Cicero referred to "tabulae" and "codex accepti et expensi"), bookkeeping but probably far from a double entry system. Bankers kept formal accounts, in part, as evidence for possible legal proceedings.
(to be continued...)
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NOVEMBER 23
Who was the First Accountant? (Part 1)
by: shockwave
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Who was the first accountant? The first priest to drop stones into a bag to count the temple's cattle? The scribe that "invented" writing to evaluate the king's wealth and tribute payments? Below are some of the candidates.
Jerry of Jericho, 8000 B.C.
From the oldest levels plain clay artifacts were discovered, called "tokens" by archeologist Denise Schmandt-Besserat. Later tokens were often found in hollow clay balls called "envelopes", with abstract markings--evidence of pre-writing. Archaeologists discovered that an inscribed envelope could be matched to the tokens enclosed and the inventory represented livestock, grains, weapons, and so on. A specific envelope could relate to the "account" of a single scribe or steward or an inventory of a specific tribute payment. It could represent the obligation of this tribute. The envelope could be handed to the debtor and returned with the actual payment in kind, a stone age voucher system.
(to be continued...)
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NOVEMBER 21
Adoption of IAS
by: shockwave
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The existence of major differences in financial accounting practices among countries hinders cross-country equity analysis and valuation. It is widely believed that worldwide acceptance of International Accounting Standards (IAS) would make financial statements more useful for analysts, investors, and creditors (Goldman Sachs Research Report).
In March 2001, the ASC decided to reformat the accounting standards based on IAS pursuant to its International Accounting Standards Project. It aims to further promote the adoption of IAS, help foster a common international accounting language, and ensure that Philippine accounting standards reflect changes to IAS on a current basis. Status of the Adoption of IAS
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NOVEMBER 18
Poems
by: Shannon and Shanda Gibbs
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Dan wakes and looks into the sky
Thinks to himself an accounting problem I should try
First I'll write the problem down
And, then I'll solve it without a frown
He took his calculator in his hand
And balancing assets is what he began
He rolled off balance sheets left and right
All through the day and all through the night
Through all the classes Dan goes a cruisin'
Cause through all the chapter he'd be perusin'
Tired he was, but he kept on
Until his pencil lead was almost gone
We know we are his biggest fans
Saying 1...2...3...Dan is the Man!!!!
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NOVEMBER 15
Intermediate Accounting
by: shockwave
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 Intermediate Accounting, 11th Edition
Donald E. Kieso
Jerry J. Weygandt
Terry D. Warfield
For more student companion resources (PowerPoints, Self-Tests, etc.), click here
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NOVEMBER 12
The Interview
by: shockwave
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There once was a business owner who was interviewing people for a division manager position. He decided to select the individual that could answer the question "how much is 2+2?"
The engineer pulled out his slide rule and shuffled it back and forth, and finally announced, "It lies between 3.98 and 4.02".
The mathematician said, "In two hours I can demonstrate it equals 4 with the following short proof."
The physicist declared, "It's in the magnitude of 1x101."
The logician paused for a long while and then said, "This problem is solvable."
The social worker said, "I don't know the answer, but I a glad that we discussed this important question.
The attorney stated, "In the case of Svenson vs. the State, 2+2 was declared to be 4."
The trader asked, "Are you buying or selling?"
The ACCOUNTANT looked at the business owner, then got out of his chair, went to see if anyone was listening at the door and pulled the drapes. Then he returned to the business owner, leaned across the desk and said in a low voice, "What would you like it to be?"
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Julius Marvin Musico
President
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Gerald Co
External Vice President
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Raymond Santos
Internal Vice President
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Rodel Marqueses
Secretary General
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Augustus Beltran
Asst. Secretary General
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Jan Ray Manlapaz
Treasurer
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Roy Delo Perez
Asst. Treasurer
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Philipson Pallarca
Auditor
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Angelo Pruna
Asst. Auditor
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John Carlo Celebrado
Public Relations Officer
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Dennis De Silva
Asst. P.R.O.
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Dexter Ortega
4th Year Batch Rep.
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Marlon Platon
3rd Year Batch Rep.
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Odette Jumao-as
2nd Year Batch Rep.
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Billy Jean Bersame
1st Year Batch Rep.
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Glenn Anthony Gallego
1st Year Batch Rep.
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Andrew Antonio Ong
National Federation
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Jeffrey Gregor Obmina
Academic Chair
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Wilson "in da sneuw"
Non-Academic Chair
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Jeffrey Rivera
Finance Chair
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Florentin Saddam
Board Operations Chair
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John Paul Eugenio
Programs Chair
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Feljun Pradas
Ad Hoc Chair
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 Khomeini Zaman
I.T. Chair
JPIA-SBC 04-05
Shockwave
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