CPB

Bookkeeping is the backbone of the accounting records. It is the basis of financial reporting leading to reasoned economic decisions. An unreliable and inaccurate financial recording system would lead to irrelevant financial reports.

Bookkeeping is proprietary and is an integral part of the management resources. The forms developed and used in financial recording, the manner of safekeeping transactional records, the objectivity in maintaining financial and related evidentiary documents, and the process of data retrieval in an efficient way greatly define how a bookkeeping system is employed in an organization. The science of bookkeeping has been proven in centuries and has been ubiquitously serving specific and vital needs of entrepreneurs, community leaders, regulators, and corporate executives in various industrial and commercial activities. The demand for bookkeeping services has been steady and evolving. On top of its impeccable systems and processes bookkeepers continually redefine their relevance in serving the financial information needs of various parties and the public in general.

It is doubtful if bookkeeping can be totally replaced by machines in the near future. Repetitive processes may be performed by an accounting software, however, data analytics, non-repetitive transactions, adherence to ever changing financial reporting standards, compliance to new government regulations, and the demanding needs of decisions makers would make bookkeepers relevant in the decades to come. This drives bookkeepers, numbering to millions globally, to continuously upskill their techniques and be more vigilant to developments besetting business organizations to safekeep their books and make relevant and timely reports.

Level 1
Level 2

Course Outline

Level 1. Certified Bookkeeper

Financial recording process

  • Accounting elements
  • Accounting equations
  • Transaction analysis
  • Accounting records
  • Transactions recording


Preparation of financial statements for servicing business

  • Trial balance
  • Adjusting journal entries
  • Worksheet for the preparation of financial statements
  • Financial statements
  • Post-reporting activities


Accounting for merchandising operations

  • Recording purchases transactions
  • Recording sales transactions
  • Merchandise inventory accounting
  • Merchandise inventory stock cards
  • VAT transactions
  • Adjusting journal entries
  • Financial statements for merchandising business
  • Post-closing entries for merchandising business


Special journals

  • Different special journals

Voucher system

  • Voucher system


Cash controls

  • Petty cash fund accounting
  • Bank reconciliation


Single-entry accounting

  • Account valuation and profit computation
  • Journal entries in setting up the double-entry accounting


Correction of errors

  • Types of accounting errors
  • Correcting entries
  • Determination of corrected profit or loss


Basic financial statements analysis

  • Horizontal, vertical, and trend analysis
  • Leverage ratios
  • Profitability ratios
  • Growth ratios
  • Liquidity ratios
Level 2. Certified Professional Bookkeeper

Conceptual Framework

  • Status and Purpose of the Conceptual Framework
  • Objectives of the Conceptual Framework
  • Qualitative Characteristics and Cost Constraints
  • Financial Statements and The Reporting Entity
  • The Elements of Financial Statements
  • Recognition and Derecognition
  • Measurement
  • Presentation and Disclosure
  • Concepts of Capital and Capital Maintenance


Preparation and Presentation of Financial Statements

  • IAS 1 – Presentation of FS
  1.  Purpose of FS
  2. The Complete Set of FS
  3. General Features of FS
  4. Statement of Financial Position – Current and Non-Current Assets
  5. Statement of Financial Position – Current and Non-Current Liabilities
  6. Statement of Comprehensive Income -Income Statement/ Profit or Loss from Continuing Operations
  7. Statement of Comprehensive Income – Other Comprehensive Income
  8. Statement of Changes in Equity
  9. Notes of FS


  • IAS 7 – Statement of Cash Flows
  1. Operating Activities
  2. Investing Activities
  3. Financing Activities
  4. Foreign Currency Cash Flows
  5. Interest and Dividends
  6. Taxes in Income
  7. Investment in Subsidiaries, Associates and Joint Ventures
  8. Non-Cash Transactions
  • IAS 10 – Events After The Reporting Period
  1. Adjusting Events
  2. Non-Adjusting Events
  • IAS 8 – Accounting Policies, Change in Accounting Estimates and Errors
  1. Accounting policies
  2. Changes in accounting estimates
  3. Errors


Basic Taxation Compliance for MSEs

  • Registration of accounting books in the Bureau of Internal Revenue
  • Community Tax Certificate
  • Taxpayer’s Identification Number
  • Registration of Official Receipts
  • Withholding Tax forms, filing, and payments
  • Income Tax Return forms, filing, and payments