Checklist for April 15

We summarized below the general documents required by the SEC and BIR from a stock corporation in relation to the submission of annual audited financial statements (FS) and corporate income tax returns (ITR): Cover sheet; Company title page; Statement of Management Report on FS; Statement of Management Report on ITR; Certificate of Compilation Services of … Continue reading Checklist for April 15

BIR accreditation requirements

Since we are currently registering our Firm in the regulatory agencies, one of the first things we need to secure is our BIR accreditation. For guidance, following are the full texts of the BIR regulations pertaining to BIR accreditation requirements for individual, GPPs, and incorporated entities: BIR Revenue Regulation No. 11-2006 BIR Revenue Regulation No. … Continue reading BIR accreditation requirements

SEC Reportorial Requirements

The Securities and Exchange Commission (SEC) has issued a manual that specifies the (a) reports that should be submitted to the agency; (b) the filing period; (c) FS that are required to be audited or certified; (d) the format of these documents; and (e) other references. A. Reports for all SEC-Registered Corporations with Primary License General … Continue reading SEC Reportorial Requirements

Traders’ Tool

While we were checking out videos about stock trading analysis, we've got a handful of  new and useful information (e.g. stock symbols, websites, trading psychology, essence of technical tools and techniques, etc.). One of which we are now heavily using and really helps us analyze stock performance is this website: No, it's not virus if … Continue reading Traders’ Tool

Del Monte stocks analysis

If you are on the same boat with us, wondering if you should or should not invest in Del Monte, you may check the Company's audited and unaudited financial statements thru this link as your first step of evaluation. As a recap, Del Monte Foods, Inc. (the North American food production and distribution company) was acquired … Continue reading Del Monte stocks analysis

Analysis of PSE-listed companies

Stock investing is like shopping but most often than not, it tends to require higher analytical skills and emotional stability. Since we want to become more familiar with the listed companies in the Philippines to get the best value for our money, we have to analyze each one of them. However, since most of us … Continue reading Analysis of PSE-listed companies

Winning Strategies for Investing

We've been busy doing other stuff (e.g. preparing financial statements and income tax returns) but we still managed to finish 2 books about investing for you, guys. These books are: Stock Investing Made Easy Winning Strategies for Investing Both were written by Marvin Germo, a stock market trader, entrepreneur, book author, international speaker, and a … Continue reading Winning Strategies for Investing

Characteristics of Investment-Linked Insurance Policies

There are numerous insurance policies available right now but oftentimes, we get confused as to which of these policies is best-suited for us and will provide highest possible gain and maximum protection as well. Hence, we have summarized below the general characteristics of insurance policies for your convenience. But first, let us discuss the different … Continue reading Characteristics of Investment-Linked Insurance Policies

Elements of Investing

Benjamin Graham defines investing as "an investment operation in which, upon thorough analysis, promises safety of principal and an adequate return." Note that investing, according to Graham, consists equally of three elements: You must thoroughly analyze a company and the soundness of its underlying businesses before you buy a stock; You must deliberately protect yourself … Continue reading Elements of Investing

Foreign Equity Restrictions and Anti-Dummy Law

Just recently, the Securities and Exchange Commission (SEC) revoked Rappler’s business registration due to violation of the Foreign Equity Restrictions and Anti-Dummy Law. Have you ever wondered what are in these rulings? Here’s a quick glimpse. The Extent of Foreign Equity in the Philippines Under the law, the general rule for foreign equity in the … Continue reading Foreign Equity Restrictions and Anti-Dummy Law

Informative Podcasts

This website was born out of our desire to help Filipinos become more financially literate and find financial independence. This desire was fueled when we stumbled upon inspirational podcasts in Spotify, the Read to Lead Podcast. We are in no way connected to the network but we would like to use this opportunity to thank them … Continue reading Informative Podcasts

Stock Trading 101

In today’s era, people are becoming more engaged with businesses and investments where their money works for them. One of the common investment vehicles used are stocks. Following are the fundamental concepts of stocks, its characteristics, types, and several factors to consider when buying or selling shares of stocks. Stocks are considered to be a … Continue reading Stock Trading 101

A Great Way to Save a Lot

A wise Chinese businessman once told me that before purchasing something, he considers the following: The minimum capital requirement to recover the amount he spent. Meaning, he has to know how much capital he needs to invest that will gain an amount equal to the amount he spent. For example, he wants to buy a … Continue reading A Great Way to Save a Lot

Easy way to find FS

Philippine financial statements are available online through the following steps: Go to PSE Edge Portal. Type the Company Name. Go to the lower section of the page to find the company you are searching for. Click the company name. From there, you may navigate through the Stock Data, Company Information, Directors and Management, Financial Reports, … Continue reading Easy way to find FS

Find Standards hassle-free

Having a hard time searching for IFRS/IAS/IFRIC Interpretations/SIC Interpretations and/or Other Pronouncements? The following link to IAS will lead you to the full list of standards and interpretations: Just navigate through the page and you can find the standards you are looking for. We delight in serving you! – Mag, Your Partner in Decision-Making … Continue reading Find Standards hassle-free

What a Bitcoin is and how it works

It's already 2018 and if you're still wondering what a bitcoin is and how its value fluctuates from time to time, here is a quick explanation: A Bitcoin is a decentralized, peer-to-peer, “cryptocurrency”, designed to allow online users process transactions through digital units of exchange. Bitcoin payments are processed through a private network of computers … Continue reading What a Bitcoin is and how it works

Office Furniture Catalog

We would like to thank Jold Marketing for supporting our website and for providing us with affordable yet high-quality office furniture and equipment. The Company is a one of the main distributors of office furniture and equipment in the Philippines so its prices are often below the prices in the market. Also, the furniture may be … Continue reading Office Furniture Catalog

How to compute withholding taxes on compensation under the TRAIN Law

The TRAIN Law provides new personal income tax rates but this table is useful in computing annual income tax. In order to determine the daily/weekly/semi-monthly/monthly withholding taxes on compensation, the BIR has issued RMC 105-2017. Following is an example on how to compute monthly withholding tax: Sample Monthly rate = Php 40,000 Step 1: Compensation … Continue reading How to compute withholding taxes on compensation under the TRAIN Law

January 2018 Tax Reminders

It's that time of the year again when the wind blows of busy accounting season is starting to form into drizzle and eventually turn into storms before April 15 comes. Perhaps every accountant or auditor knows the #busyseasonfeels. As the season is finally approaching, let us not forget these reminders after closing the books and … Continue reading January 2018 Tax Reminders

TRAIN (Simplified version)

The TRAIN or The Tax Reform for Acceleration and Inclusion (RA 10963) has been effective in the Philippines since January 1, 2018. Its primary objective is to shift the levied taxes from the lower-income generating public into the high-income earners of the country. Much have been said about the new tax rules and summaries of … Continue reading TRAIN (Simplified version)