Divine Word College of Legazpi >> this is our room.

[nhone2010]

Kekurt:

The logic of the problem is to find the percentage of net income to sales, since the only figure given in the problem is the amount of net income.

Percent means parts per hundred. The word comes from the Latin phrase per centum, which means per hundred. - http://www.mathgoodies.com/lessons/v...g_percent.html.

In this problem, the 100% is the Sales. The formula in getting net income is:

Sales 100%
Less:
Cost of Sales ?%
Selling Expenses 10%
Administrative Expenses 15%
Bad debts expense 3%
NET INCOME ?%

As you can see in the formula, there are two unknown. (1) The % of Cost of Sales to Sales and (2) Net income to Sales.

The problem provides a hint in getting the 1st unkown (The % of Cost of Sales to Sales).

"it is ascertained that the administrative expense is 25% of cost of sale...."

Please see the formula above. Administrative Expense is 15% of SALES. And the hint says that Administrative Expense is 25% of COST OF SALES. From here, we can derive the % of Cost of Sales to Sales.

How? We can apply our knowledge in ratios. hehe.

25 : 100 = 15 : ?

25% is to 100% is the ratio of Administrative Exp to COS.
15% is to ? is also the ratio of Administrative Exp to COS.

Kaso in the 2nd ratio, we used the % of Admin Exp na 15% to Sales para mahanap din natin *** % ng COS sa Sales.

So, if we divide 25% by 100% we get 25%. Since equal ang formula (25 : 100 = 15 : ?), dapat ang quotient din ng pangalawang ratio ay 25%.

15% / ? = 25%.
? = 15%/25%
? = .60 or 60%

60% is the ratio of COS sa Sales.
We can now compute the ratio of Net Income to Sales.

Sales 100%
Less:
Cost of Sales 60%
Selling Expenses 10%
Administrative Expenses 15%
Bad debts expense 3%
NET INCOME ?%

By subtracting % of COS, Selling exp, Admin exp and Bad debts exp from 100% (100%-60%-10%-15%-3%) we get 12%. This is the % of Net Income to Sales.

Hehe, puede na natin makuha ang amount ng Sales by dividing the amount of Net Income sa % ng Sales. so P480,000/12% = P4,000,000.

Mejo mahaba computation kasi dinetail q para mas maintindihan ng mga nasa undergrad. Ganun din kasi ** dati, di q maintindihan qng bakit ididivide, itatimes.. hehe.. u can post follow up questions if di pa rin malinaw.

Sa ating minamahal na mga mentors, u can post your own explanations to this problem. Hindi kasi algebraic approach q.

[nhone2010]

@nhone2010: I am aswell a graduate of DWCL Batch March 2010. I tke the October 2010 CPA board and was rate as conditioned student. Currently I am working here in Makati City and will be taking the CPA Board Exam this coming October 2011. I will be attending review session in CPAR on a weekends starting June 4.. Hopefully I will become one of One..Medyo madugo pa kasi nacondition na subjects eh..
It's a great thing that you continue to serve/support our fellow divinian..Duc in Altum Vern! May you continue to be our inspiration..
I salute you for that!

(n_n)(!!)

MsSMCVolvo: Hmm.. for sure classmate kita kasi March 2010 ka rin.. hehe.. do u really want to hide ur identity in our thread? we will respect that. It's hard reviewing while at the same time you are working. Focus lang, solve, solve, solve, read, read, read. I can also see u in person ***** pag week ends to provide free tutorial. just inform me ahead of time. Let's help each other para mataas passing rate natin.

[nhone2010]

GOOD EVENING PO SAINYO

I share ko lan po webpage natin na BSA students

http://www.facebook.com/pages/JPIAns/121833127853219

We will post updates and info there, thank you

DWCL JPIA
Excellence...
Beyond Numbers!

welcome to the thread DWCL JPIA. Thanks for posting the JPIA webpage. I hope you will create more activities focusing on passing the CPA board of JPIANs like seminars on accounting standard updates, inspirational seminars about passing the board (just like what Mam Sorra provided us where the speaker was Atty. Macmod) and peer tutorials. God bless you! May we work hand in hand in helping the JPIANS to be what they wanted to be, to be a CPA. ^__^

Please also promote our thread to the webpage.

[IamMsSMCVolvo]

MsSMCVolvo: Hmm.. for sure classmate kita kasi March 2010 ka rin.. hehe.. do u really want to hide ur identity in our thread? we will respect that. It's hard reviewing while at the same time you are working. Focus lang, solve, solve, solve, read, read, read. I can also see u in person ***** pag week ends to provide free tutorial. just inform me ahead of time. Let's help each other para mataas passing rate natin.

Is it really true? sana nga makapagmet tayo by weekends.. Im planing to stay in CPAr every weekend from 8Am to 6pm.. para makapagfocus ** sa review ko with limited time..Hope to see you there..I'll tell you who am I.. Thank you so much for extending your effort..It's a great help for me..

[nhone2010]

Is it really true? sana nga makapagmet tayo by weekends.. Im planing to stay in CPAr every weekend from 8Am to 6pm.. para makapagfocus ** sa review ko with limited time..Hope to see you there..I'll tell you who am I.. Thank you so much for extending your effort..It's a great help for me..

Yes I can meet u.just pls tell me ahead of time para malaman q if available ** at that time. And if may questions ka, you can post it here.. ^__^ Maybe i could just provide an hour or two kung imeet kita kasi i have other matters to attend to. U can give your contacts to me in a private message here.. ^__^ God bless you!

[kekurt]

Kekurt:

The logic of the problem is to find the percentage of net income to sales, since the only figure given in the problem is the amount of net income.

Percent means parts per hundred. The word comes from the Latin phrase per centum, which means per hundred. - http://www.mathgoodies.com/lessons/v...g_percent.html.

In this problem, the 100% is the Sales. The formula in getting net income is:

Sales 100%
Less:
Cost of Sales ?%
Selling Expenses 10%
Administrative Expenses 15%
Bad debts expense 3%
NET INCOME ?%

As you can see in the formula, there are two unknown. (1) The % of Cost of Sales to Sales and (2) Net income to Sales.

The problem provides a hint in getting the 1st unkown (The % of Cost of Sales to Sales).

"it is ascertained that the administrative expense is 25% of cost of sale...."

Please see the formula above. Administrative Expense is 15% of SALES. And the hint says that Administrative Expense is 25% of COST OF SALES. From here, we can derive the % of Cost of Sales to Sales.

How? We can apply our knowledge in ratios. hehe.

25 : 100 = 15 : ?

25% is to 100% is the ratio of Administrative Exp to COS.
15% is to ? is also the ratio of Administrative Exp to COS.

Kaso in the 2nd ratio, we used the % of Admin Exp na 15% to Sales para mahanap din natin *** % ng COS sa Sales.

So, if we divide 25% by 100% we get 25%. Since equal ang formula (25 : 100 = 15 : ?), dapat ang quotient din ng pangalawang ratio ay 25%.

15% / ? = 25%.
? = 15%/25%
? = .60 or 60%

60% is the ratio of COS sa Sales.
We can now compute the ratio of Net Income to Sales.

Sales 100%
Less:
Cost of Sales 60%
Selling Expenses 10%
Administrative Expenses 15%
Bad debts expense 3%
NET INCOME ?%

By subtracting % of COS, Selling exp, Admin exp and Bad debts exp from 100% (100%-60%-10%-15%-3%) we get 12%. This is the % of Net Income to Sales.

Hehe, puede na natin makuha ang amount ng Sales by dividing the amount of Net Income sa % ng Sales. so P480,000/12% = P4,000,000.

Mejo mahaba computation kasi dinetail q para mas maintindihan ng mga nasa undergrad. Ganun din kasi ** dati, di q maintindihan qng bakit ididivide, itatimes.. hehe.. u can post follow up questions if di pa rin malinaw.

Sa ating minamahal na mga mentors, u can post your own explanations to this problem. Hindi kasi algebraic approach q.

galing grabeh..

may problem also is to solve the two unknows using x and y in algebra i came up also in ratios but di q na focuse kc focuse ** sa paggawa ng possible equation..so ang ginawa q pang samantala is using trial and error sa given answer by subtituting the value in the unknow..woooh!galing nyo po ****..tnx a lot po..may hint na ako now pa na encounter q po ganitong problem ulit

[kekurt]

pahabol pa bo..
25:100 ratio of admin..to COS(or admin to sale)?

[nhone2010]

pahabol pa bo..
25:100 ratio of admin..to COS(or admin to sale)?

kekurt: yung 25:100 po is ratio of admin exp to COS. ^__^

[hermione16]

hi po kuya rey. i'm also a divinian tanong ko *** ko kung ano pa po ba ang magandang libro for advance acctng.

[nhone2010]

hi po kuya rey. i'm also a divinian tanong ko *** ko kung ano pa po ba ang magandang libro for advance acctng.

hello hermione16! welcome to the thread! Advance accouting xe na txtbook na alam q is yung kay Sir Guerrero lang. Pero in my college years, i also tried to refer sa mga international books jan sa Library natin.. hanap ka lang jan, ** kc *** pinaka suluk sulukan ata jan nahanapan q.. hehe.. pag may gusto lang ** iclear na concept. pero ingat kc *** iba obsolete na standards na inaapply.. Also yung reviewer ni Sir Dayag sa P2, may mga discussions din dun kaso di na ****** detailed. Pero conceptwise, sufficient na rin yun.. hand in hand mo ** gamitin.. Dayag for the concept (puede rin yung international na books, pero mas preferred yung kay sir Dayag na reviewer sa P2) and for the procedures, *** kay Sir Guerrero.

try ka din ng mga videos sa youtube, meron dun nagdidiscuss about accounting. Be resourceful pag di naiintindihan ang topic.

^__^

[kekurt]

hello hermione16! welcome to the thread! Advance accouting xe na txtbook na alam q is yung kay Sir Guerrero lang. Pero in my college years, i also tried to refer sa mga international books jan sa Library natin.. hanap ka lang jan, ** kc *** pinaka suluk sulukan ata jan nahanapan q.. hehe.. pag may gusto lang ** iclear na concept. pero ingat kc *** iba obsolete na standards na inaapply.. Also yung reviewer ni Sir Dayag sa P2, may mga discussions din dun kaso di na ****** detailed. Pero conceptwise, sufficient na rin yun.. hand in hand mo ** gamitin.. Dayag for the concept (puede rin yung international na books, pero mas preferred yung kay sir Dayag na reviewer sa P2) and for the procedures, *** kay Sir Guerrero.

try ka din ng mga videos sa youtube, meron dun nagdidiscuss about accounting. Be resourceful pag di naiintindihan ang topic.

^__^

i do have book kay dayag..maganda po **** yan as a reference for advance accounting..ginamit q yan while im taking up partnership in ist year kc may mga problem dun for partnership..preparation nrin for advance accounting pag natke q na dyan sa divine..

2009 edition po *** nbili q na book..di pa nmn po ***** obsolete kua noh?hehe..i think wala pa nmn revision ng standard na ngyari dis year.?.correct me if im wrong..

[hermione16]

hello hermione16! welcome to the thread! Advance accouting xe na txtbook na alam q is yung kay Sir Guerrero lang. Pero in my college years, i also tried to refer sa mga international books jan sa Library natin.. hanap ka lang jan, ** kc *** pinaka suluk sulukan ata jan nahanapan q.. hehe.. pag may gusto lang ** iclear na concept. pero ingat kc *** iba obsolete na standards na inaapply.. Also yung reviewer ni Sir Dayag sa P2, may mga discussions din dun kaso di na ****** detailed. Pero conceptwise, sufficient na rin yun.. hand in hand mo ** gamitin.. Dayag for the concept (puede rin yung international na books, pero mas preferred yung kay sir Dayag na reviewer sa P2) and for the procedures, *** kay Sir Guerrero.

try ka din ng mga videos sa youtube, meron dun nagdidiscuss about accounting. Be resourceful pag di naiintindihan ang topic.

^__^

salamat po...

[nhone2010]

i do have book kay dayag..maganda po **** yan as a reference for advance accounting..ginamit q yan while im taking up partnership in ist year kc may mga problem dun for partnership..preparation nrin for advance accounting pag natke q na dyan sa divine..

2009 edition po *** nbili q na book..di pa nmn po ***** obsolete kua noh?hehe..i think wala pa nmn revision ng standard na ngyari dis year.?.correct me if im wrong..

hi kekurt: I knew of a revision in partnership about the recognition of goodwill in the formation or in a retirement of a partner. I dont know when the stardard took effect pero nung nagrereview ** (June to October 2010) this revision was already discussed to us. In formation kasi we have 2 WAYS in order to make their investment equal to their Profit or loss ratio WITHOUT ANY PARTNER CONTRIBUTING OR WITHDRAWING THEIR ORIGINAL INVESTMENT. We have the (1) Bonus Method and the (2) Goodwill Method. Wala na yung Godwill method ngayon kasi according to IFRS 3, Goodwill will be recognized only in business combination accounted for as purchase. ^__^

[nhone2010]

With regard sa ibang topics, ang may pinaka maraming revision ay ang part ng Business Combination and Consolidation. 2009 book hindi na updated kasi ang effectivity nun if Im not mistaken is july 2010. So better na kung may 2011 na na book, yun na lang ang bilhin.

[kekurt]

hi kekurt: I knew of a revision in partnership about the recognition of goodwill in the formation or in a retirement of a partner. I dont know when the stardard took effect pero nung nagrereview ** (June to October 2010) this revision was already discussed to us. In formation kasi we have 2 WAYS in order to make their investment equal to their Profit or loss ratio WITHOUT ANY PARTNER CONTRIBUTING OR WITHDRAWING THEIR ORIGINAL INVESTMENT. We have the (1) Bonus Method and the (2) Goodwill Method. Wala na yung Godwill method ngayon kasi according to IFRS 3, Goodwill will be recognized only in business combination accounted for as purchase. ^__^

im aware of that revision sa partnership kua nabasa q dun mismo sa book na un..pati kay ballada..keeps on changing **** ang accounting standard..hmm..sayang nmn *** *** book na un..dapat di muna ako bumili ***..pero *** ibang topic ***** doon maliban sa business combination and consolidation ay magagamit ku pa.kailngan *** po **** aware lage sa mga new standards and revisions..tsktsk..tnx po

[nhone2010]

kekurt: yes that's true, i dont think of any other na meron pang change.. there are no change in these topics in P2: Corporate Liquidation, Joint Ventures, Construction Accounting, Franchise Accounting, Home Office, Branch and Agency Accounting, Hedging (Derivatives), Not for Profit Organization, Government Accounting, Government Grants, Cost Accounting.

[IamQueenB]

nhone2010 & sir obet: sorry kung di ko po naupdate posts ko kasi nawalan ako ng net. Anyways, ito mga prof ko and my assessments:

P1/TOA: Si Baby Valix -crush ko sya kaya medyo nawawala concentration ko pag nagtuturo sya.

P2: Si Sir German- wala pang formal discussion (and di pa sya kumakanta), more on intro palang sya sa p2, kwento-kwento about the board exam and ang galing nya magmotivate.

Tax and Law: Atty. D- magaling din sya magturo and super nakakatawa (kaso parating ang joke e panlalait sa mga babae. hehehe) -sabi ng pinsan ko si sir tristan daw ang magaling. pero satisfied naman ako kay atty d.

MAS: Sir rodel roque- Fave ko sa lahat, super funny (lalo na ang SCRIPTED lectures and jokes nya) and magaling.

Aud theory: Sir Jerry Roque- 1 meeting palang kami. so far hindi ko pa sya feel, ang corny nya last meeting. magkasunod pa naman sila ni sir rodel, masyadong laughtrip nun si sir rodel kaya wala pumansin sa joke ni sir jerry afterwards.

Aud Prob: Si Sir Ibay- magaling sya magturo pero talagang ituturo nya step by step kaya medyo time consuming. tama nga kayo na 2 problems lang for 3 hours.




1 week palang kaya 1 sided assessment palang nagagawa ko. hehe. di pa ko marunong mag seat-in ngayon. parating puno classrooms. masyadong masisipag pumasok mga kabatch ko. Ang p1/toa mabilis na ang phasing ngayon, ilang chapters ang covered per week kaya naghahabol ako. May tips po ba kayo kung pano ang effective na pagrereview? Ang hirap kasi paghati-hatiin ang time sa dami ng subjects e. Tapos parang petiks-petiks palang kami. hehe.

[nhone2010]

hello QueenB! Yes sa una talaga parang relax pa mga reviewers but I have to warn you na darating sa point ng review na bibilis ng sobra sa phasing. Ang strategy q nung review is ganito:

(1) Morning session kc ** kaya e2 ginagawa q, pag hapon pag dating sa bhouz, konting review nung lecture ng morning.. mga at most na ang 1 1/2 hour. kasi ang tlagang naka plan na pag aralan q ay yung subjects kina umagahan. Para sakin effective sya kasi at least bago idiscuss ng sunod na morning, napag aralan q na nung afternoon the day before. Yun ginawa qng schedule q pag weekdays. So pag friday, ang pag aaralan q is yung pang Monday.

(2) Saturdays and Sundays - ang pinag aaralan q sa araw na ito ay yung mga topics na mga mahihirap intindihin and yung mga weaknesses q.

(3) Feeling q halos wala aqng free time kasi pag tapos na q sa hand out, gusto q nun tapusin lahat ng reviewer na books like P1 ni Sir Valix, P2 ni Sir Dayag, Aud Theory (Both reviewer books ni Sir Salosagcol and Roque), MAS ni Sir Roque, TOA by Valix. hehe.. Aud Prob lang ***** yung di ** ****** nagsosolve sa reviewer, Notes to BL taz Pointers to BL ni Suarez and Tax ni Sir Ampongan, kung meron man yung mga sample tests na sa likod ng book ni Sir Gerry Roque. Taz pag Saturday din ** na nonood ng movie pamparelax. Pero pinapanood ko pa rin yung mga makakatulong sakin sa board. haha.. like The Secret and Deathnote.

(4) Pag may di tlaga ** maintindihan na topic, nagsesearch ** sa net and nagdownload ng video sa youtube if merong discussion about sa topic na un.

(5) You have to assess yourself everyday kung sa tingin mo papasa ka na if on that day na *** board. If not, wag mag papetiks petiks, go directly sa topic na sa tingin mo you need to understand kahit di pa doon ang dinidiscuss sa review.

(6) Aim for top. That way, you always feel na parating kulang pa ang pinag aralan mo and that your competitor might have studied more than you. If you Aim for Top and di nangyari, ang second na babagsakan is Passed. If Passed lag aim mo, ang sunod na babagsakan, failed or condi.. hehe..

God bless!

[IamQueenB]

Thanks sa tips. Ganda ng tips mo, feeling ko maapply ko yan. Afternoon session ako and medyo malayo house ko. Nagcocommute ako, atleast 1hr ang byahe kaya medyo nahirapan ako magprioritize ng gagawin. Practical pa ba ang pagbabasa ng mga textbooks kasi namili ako ng mga textbooks para sa review. Plan ko kasi basahin yun nung summer kaso masyado ako nagenjoy kaya nagstart na ang review wala padin ako nasimulan basahin. Aim ko din ang top spot kaso sa sobrang daming summa, magna and cumlaude, medyo nakaka-baba ng self-esteem.

[IamQueenB]

PS: Praktikal padin ba ang magbasa ng psa and paps?