Implementing Rules and Regulations

of AASC Academic Competition

IRR 1.0 ACADEMIC COMPETITIONS, COVERAGE AND ELIGIBILITY
IRR 1.1 The Annual Accounting Students’ Convergence (AASC) in its fifth year covers the following
academic competitions:
 10 AASC Cups
 2 Case Studies
 Master Calculator
IRR 1.2 The table below shows the topic covered for each academic quiz and who are eligible to join
each academic competition. The IRRs for ATTEST and Case Studies will be separately given.

Maximum Number of
Academic
Coverage Participants Participants per local
Competition
chapter

Financial Accounting and Reporting

Atleast 2nd
AASC Cup 1 & Advanced Financial Accounting 3
year
and Reporting

AASC Cup 2 Regulatory Framework and Business Atleast 4th

3
Transactions year

AASC Cup 3 Atleast 2nd

Taxation 3
year

AASC Cup 4 Intermediate Accounting (1 and 2) Atleast 1st year 3

AASC Cup 5 Basic Accounting (including

1st year only 3
partnership and corporation)

Open to all
CASE STUDIES *Separate IRR 1 Team of 4 members
year levels

Master Calculator All board subjects Atleast 4th year 1 Team of 2 members

IRR 2.0 QUALIFICATIONS

IRR 2.1 All participants must be currently enrolled in BS Accountancy or any other accounting-related
courses recognized by JPIA (e.g. BS in Management Accounting, BS Accounting Technology etc.)
for the Academic Year 2019-2020.
IRR 2.2 The participants must be a bonafide member of the Junior Philippine Institute of Accountants
(JPIA) of their respective local chapter.
IRR 2.3 Each participant is allowed to join a maximum of:
 Two individual academic competitions; and
  One team academic competition
IRR 3.0 REQUIREMENTS
IRR 3.1 Each local chapter must comply with the following requirements in SOFT COPY only:
 Official List of Participants
 Duly Accomplished Application form to be provided by the USL-JPIA
 Scanned copy of an Endorsement Letter certifying that the participant is the official
representative of his local chapter and he is currently enrolled in the same school. This letter
must be duly endorsed by the department head of the accountancy program and the
academic dean. The said letter must be signed by the local chapter Vice-President for
Academics and local chapter President, noted by the local chapter Adviser. The letter
should be originally signed. Thus, digital signatures are not allowed.
IRR 3.2 All requirements must be compressed into a zip/rar file and shall be sent to
jpiausl.academics@gmail.com. The filename format to be used shall be:
AASC5_Nameofthe School_Academics.zip/.rar
Example: University of Saint Louis Tuguegarao

AASC5_UniversityofSaintLouisTuguegarao_ACADEMICS.zip/.rar

IRR 3.3 Walk-in contestants shall not be allowed to join the competition.

IRR 4.0 GENERAL CONTEST RULES AND MECHANICS

IRR 4.1 Participants are advised to be at the designated place/venue fifteen (15) minutes before time
scheduled.

IRR 4.2 Late participants are still allowed to participate, however, the participants are no longer allowed
to answer the questions they missed. For case study competition, late contestants are still
allowed to join the competition but no time extension will be given to answer the case.

IRR 4.3 Participants must strictly wear corporate attire (no denim pants, rubber shoes, slipper, casual
wear, etc.). Non-compliance of the proper attire will result to automatic disqualification.

IRR 4.4 After reading the contest rules and mechanics, contestants are given the chance to raise
question/clarification regarding the said rules and mechanics.
IRR 4.5 The committee for Academics shall be composed of USL-JPIA Vice President for Academics and
Committee Members while the USL-JPIA shall be composed of the USL-JPIA Executive Officers and
the Committee Members which shall serve as the monitoring personnel and question distributors
(QD).
IRR 4.6 The board of judges shall be composed of Certified Public Accountants for the purpose of giving
an intelligent and independent decision.
IRR 4.7 Any member of the board of judges and the USL-JPIA council shall be vested with the power to
give sanction to any contestant he/she had witnessed violating any of the said provision in this IRR.
IRR 4.8 The 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 on the first day of the Annual Accounting Students’ Convergence or before
the start of competition. Once the quizmaster starts reading the first question in the easy sub-set
round, the registration for local chapter coach will be closed.
IRR 4.9 The contestant and the registered adviser are the only persons who have vested rights to raise
protest and clarification.
IRR 4.10 After reading the contest rules and mechanics, contestants are given the chance to raise
question/clarification regarding the said rules and mechanics.
IRR 4.11 In case of any concern, clarification, or protest which is not governed by the Implementing Rules
and Regulations (IRR), the USL-JPIA shall have the absolute power to decide, upon consultation with
the board of judges and/or the USL-JPIA Advisers, on matters which he deems necessary to
preserve and protect the integrity of the event. His decision is final and irrevocable.
IRR 5.0 CONTESTANTS AND THE CONTEST MECHANICS- AASC CUPS
IRR 5.1 Contestants shall be provided with a copy of the question for every item. Flipping the copy of
the question is not allowed until the quizmaster requires them so. Upon the instruction of the
quizmaster, the contestant may flip their own copies and start to read the question provided.
Penalties for violation are as follows:
Warning shall be given for the 1st offense. On the 2nd offense, the contestant shall be sanctioned
of accumulating only 50% of his total score garnered in all rounds. 3 rd offense results to
disqualification from the competition.
IRR 5.2 All questions shall only be read once, whether it is a theory or a problem necessitating
computation. Any request to repeat a question shall not be entertained unless waived by the Vice
President for Academics of USL-JPIA or any officers authorized by the Vice President for Academics to
take charge of the competition.
IRR 5.3 Contestants are allowed to manipulate their calculators ONLY when the quizmaster says “GO!”
Penalties for violation are as follows:
IRR 5.4 Warning shall be given for the 1st offense. On the 2nd offense, the contestant shall be sanctioned
of accumulating only 50% of his total score garnered in all rounds. 3 rd offense results to
disqualification from the competition.
IRR 5.5 Erasure, in any form (which may include but is not limited to tampering or any form of
alteration/s) is strictly not allowed. Hence, participants are reminded to ensure their answers before
writing it to the provided answer sheets. Violation of this IRR shall void the contestant’s answer.
IRR 5.6 The AASC Cups shall consist of three rounds, namely: Easy, Average and Difficult Rounds. In case
of a tie after the difficult round, clincher questions shall be drawn until the deadlock is broken. Time
allotment, number of items and corresponding points are as follows:
 EASY AVERAGE DIFFICULT CLINCHER

Time Allotment

Theory 10 seconds 10 seconds 10 seconds 10 seconds

Problems 20 seconds 45 seconds 60 seconds 30 seconds

Number of items 10 8 7 -

Corresponding points 2 5 7 -

IRR 5.7 The Board of Judges or the USL-JPIA Vice President for Academics may extend time prescribed
depending on the complexity of the question.
IRR 5.8 The contestant should answer the question within the allotted time. A bell ring shall be used to
signify that the time already lapsed. At this point, contestants should stop answering and must
immediately raise their answer sheet. Violation of this provision will merit no point even if
he/she got the correct answer.
IRR 5.9 The contestant may write their answer before the time allotted has elapsed. The contestants
must raise their answer sheet once the quiz master declares so. Any contestant who fails to
comply will receive a warning and his answer may be forfeited upon the discretion of the Board
of Judges.
IRR 5.10 The contestants should write their answers clearly and legibly on the provided answer sheets.
Abbreviations are not allowed to be used unless approved by the Board of Judges in a
particular question or the USL-JPIA Vice President for Academics.
IRR 5.11 Contestants who shall insist in writing their answers ambiguously, abbreviated or eligibly may
still claim points for correct answer, only upon the discretion of the panel of judges.
IRR 5.12 Before proceeding to the next question, the contestants are given five (5) seconds to raise a
protest/clarification, to request for new marker, pen or scratch paper, to change their
calculator (The contestants are required to use basic calculator) if it encounters a technical
problem, or other concerns. When the allotted time has elapsed, any form of protest,
clarification, or concern will no longer be entertained. Contestants should not erase their
answers during the 5-second time allotment to still validate their answers when
protests/clarifications are raised for that particular question.
IRR 5.13 In case of non-settlement within the five (5) minutes time allotted, further discussion may be
made by the board of judges, and will be announced as soon as the final decision is available.
The contest should strictly proceed to the next question, while the board is deliberating. The
Judge/s’ decision is final and irrevocable.
IRR 5.14 The contestant is the only person who has the right to raise concern, protest and/clarification.
IRR 5.15 In case where a question was voided upon the recommendation of the Board of Judges or by
the Academic Committee, another question shall be asked coming from the clincher questions
to replace the voided question.
IRR 5.16 Any contestant caught cheating is disqualified from the competition.
IRR 5.17 In case of a tie at the end of a round, tie breaker questions shall be asked until the deadlock is
broken. The questions are read twice by the quizmaster. Tie breaker question/s shall have NO
bearing on the cumulative score of the contestants. Whoever gets the right answer and
raises his answer board first shall advance to the next round or otherwise be declared the
winner, whichever is applicable.
IRR 5.18 The top three (3) contestants accumulating the highest points shall be declared as the 1st
place, 2nd place, 3rd place, respectively.

IRR 6.0 CONTESTANTS AND THE CONTEST MECHANICS- MASTER CALCULATOR

IRR 6.1 Each participating school/local chapter is allowed to send in one (1) team of two (2) members in
the Master Calculator.
IRR 6.2 Before the event the participants shall draw lots to determine their corresponding team
number.
IRR 6.3 The competition shall use the single elimination system. Sample schedule is provided on the
next page.

1
W1
2
W6

3
W2
Note: This schedule shall only apply
4
to 11 teams, should there be more or
less teams that will be competing
later on, same pattern shall be used.
5
W3
 6
W7

7
W4
8

9
W5
10
W8

11 By

IRR 6.4 Three (3) questions shall be given for each elimination round.
IRR 6.5 Slate boards shall be provided to each team and the first team to raise their slate boards and
score two (2) points shall advance to the next round.
IRR 6.6 The elimination rounds shall cease when only three (3) or four (4) teams remain in the contest.
IRR 6.7 The remaining contestants shall move to the final round and shall compete with one another.
IRR 6.8 The final round shall consist of five (5) questions.
IRR 6.9 Teams may raise their slate boards at any time at their own risk. If a question is interrupted by a
team raising their slate board, the host will stop and ask for an answer, without reading the
remainder of the question. The first one who raised their slate boards first get to answer first. If
the contestants who raised their calculator answer the question incorrectly, the quiz master will
continue reading the question and the other contestants are permitted to answer by raising
their slate boards for only 5 seconds. If the answer is still incorrect, the quiz master gives the
correct answer and moves on to the next question.
IRR 6.10 The top three (3) contestants accumulating the highest points shall be declared as the 1 st place,
2nd place, 3rd place, respectively.