REPUBLIC ACT NO 9298: PHILIPPINE ACCOUNTANCY ACT OF 2004

 Practice of Public Accountancy

 Practice and Commerce and Industry
 Practice in Education/Academe
 Practice in the Government

MANAGEMENT FUNCTIONS

 Planning - It specifies the objective/goals to be achieved in the future and the steps required to
achieve them.
 Organizing - Assigning duties, grouping various activities, establishing authority, and allocating
resources necessary to attain the specific plan.
 Directing – Ensures that the members of an organization work efficiently and effectively for
achieving the desired objective. Leading, influencing, instructing, guiding, and inspiring
employees to perform and achieve the predetermined objectives. Motivation and Leadership.
 Controlling - Monitors the organizational performance towards the fulfilment of organizational
goals. To ensure that the actual results are consistent with the planned results. Take CORRECTIVE
actions
 Staffing - Hiring and developing the required personnel to fill in various positions in the
organization. Ensures that the organization has the right number and right kind of people, with
the right qualification.

STANDARDS OF ETHICAL CONDUCT FOR PRACTITIONERS OF MANAGEMENT ACCOUNTING

AND FINANCIAL MANAGEMENT

1. Competence
 Maintain an appropriate level of professional expertise by continually developing
knowledge and skills.
 Perform professional duties in accordance with relevant laws, regulations, and technical
standards.
 Provide decision support information and recommendations that are accurate, clear,
concise, and timely.

2. Confidentiality
 Keep information confidential except when disclosure is authorized or legally required.
 Inform all relevant parties regarding appropriate use of confidential information.
 Refrain from using confidential information for unethical or illegal advantage.

3. Integrity
 Mitigate actual conflicts of interest; regularly communicate with business associates to
avoid apparent conflicts of interest. Advise all parties of any potential conflicts.
 Refrain from engaging in any conduct that would prejudice carrying out duties ethically.
 Abstain from engaging in or supporting any activity that might discredit the profession.

4. Objectivity / Credibility
 Communicate information fairly and objectively.
 Disclose all relevant information that could reasonably be expected to influence an
intended user's understanding of the reports, analyses, or recommendations.
 Disclose delays or deficiencies in information, timeliness, processing, or internal controls
in conformance with organization policy and/or applicable law
Controller / Chief Accounting Officer
 Reports to the chief financial officer
 In charge of the company’s accountants
 Supervising the preparation of financial
reports and presenting them to
management
 Producing and presenting timely reports.
 Responsible for the company’s
compliance with the law regarding taxes
and other financial matters.
 Must be a licensed CPA
Staff Authority
Involves staff positions supporting line
positions with advice and insight. Staff
workers do not have formal authority
over line workers. For instance, a
company’s in-house accountant cannot
tell a marketing manager how to do their
job. Yet, these staff members can support
line managers and line workers by
offering insight and advice. In doing so,
they exert staff authority.
3 METHODS OF SEPARATING MIXED COSTS
1. The High-Low Method
Uses two points to determine the equation of the cost line.
2. The Scatterplot Method
Data points are plotted so that the relationship between the dependent variable and the
independent variable can be seen.
3. The Method of Least Squares
Produces a best-fitting line that is closer to the data points than any other line.
Treasurer
 Can be referred to as the vice president
of finance.
 Oversees the finance department.
 Help their company grow its funds and
invest the money they have wisely.
 Tasked with communicating with
potential and current investors.
Communicating the company’s goals and
plans for achieving its fiscal targets.
Line Authority
Involves the normal chain of command
on a company’s core product line. Line
authority describes the process of
product managers giving instructions to
line workers, or top management giving
instructions to product managers. Line
authority involves centralization of
power, a clear chain of command, and
work directly related to the company’s
customer-facing products or services.