Understanding the BOA Syllabus: A Complete Breakdown
A detailed look at what topics to expect in each subject area of the Certified Public Accountant Licensure Examination.
The Board of Accountancy (BOA) sets the comprehensive syllabus for the Certified Public Accountant Licensure Examination (CPALE). Understanding this syllabus is your roadmap to success. This guide breaks down each subject area, covering key topics, weightage, and what examiners are looking for in your answers.
Subject 1: Financial Accounting and Reporting (FAR)
FAR is often considered the foundation of the CPALE, testing your mastery of accounting standards and financial reporting:
- Conceptual framework for financial reporting
- Philippine Financial Reporting Standards (PFRS) and Philippine Accounting Standards (PAS)
- Financial statements preparation and presentation
- Revenue recognition (PFRS 15)
- Leases (PFRS 16), financial instruments (PFRS 9)
- Employee benefits (PAS 19), income taxes (PAS 12)
- Accounting for special transactions
Subject 2: Advanced Financial Accounting and Reporting (AFAR)
AFAR covers complex accounting topics and specialized industries:
- Partnership formation, operations, dissolution, and liquidation
- Business combinations and consolidated financial statements (PFRS 3, PFRS 10)
- Joint arrangements (PFRS 11) and investments in associates (PAS 28)
- Foreign currency transactions and translation (PAS 21)
- Government accounting and the Philippine Government Accounting System
- Not-for-profit and fiduciary accounting
- Accounting for special industries (construction, agriculture, extractive)
Subject 3: Management Advisory Services (MAS)
MAS tests your ability to apply accounting knowledge for business decision-making:
- Cost accounting: Job order, process costing, ABC costing
- Cost-volume-profit analysis and break-even analysis
- Budgeting and standard costing, variance analysis
- Financial management: Time value of money, capital budgeting
- Working capital management and financial ratio analysis
- Strategic management: SWOT, Porter's Five Forces, balanced scorecard
- Quantitative methods: Linear programming, decision theory, PERT/CPM
Subject 4: Auditing
Auditing covers both theoretical frameworks and practical application:
- Philippine Standards on Auditing (PSA) and their application
- Audit planning, risk assessment, and materiality
- Internal control evaluation and testing
- Audit evidence, procedures, and documentation
- Audit of specific accounts and transaction cycles
- Audit reports and modified opinions
- Professional ethics and Code of Ethics for CPAs
- Quality control and assurance engagements
Subject 5: Taxation
Taxation is one of the most computation-heavy subjects in the CPALE:
- National Internal Revenue Code (NIRC) as amended by TRAIN Law and CREATE Act
- Income taxation: Individual, corporate, and special taxpayers
- Value-added tax (VAT) and percentage tax
- Transfer taxes: Estate tax and donor's tax
- Documentary stamp tax and excise tax
- Tax remedies, compliance, and procedures
- Local taxation and real property taxation
Subject 6: Regulatory Framework for Business Transactions (RFBT)
RFBT tests your understanding of the legal environment of business:
- Law on obligations and contracts (Civil Code)
- Law on sales, agency, and partnership
- Negotiable Instruments Law
- Corporation Code of the Philippines (Revised Corporation Code, RA 11232)
- RA 9298: Philippine Accountancy Act of 2004
- Securities Regulation Code and BSP regulations
- Cooperative Code, insurance, and other special laws
Exam Format and Question Types
Understanding how knowledge is tested helps you prepare better:
- Multiple choice questions: Majority of most subjects
- Problem-solving questions: Especially in FAR, AFAR, MAS, and Taxation
- Theoretical questions: Especially in Auditing and RFBT
- Scenario-based questions: Real-world application of concepts
- Time management: Average 1-2 minutes per question
High-Yield Topics (Most Frequently Tested)
Focus extra attention on these areas:
- PFRS/PAS standards application and financial statement preparation
- Partnership and business combination problems
- Cost-volume-profit analysis and variance analysis
- Audit risk assessment and audit reports
- Income tax computation (individual and corporate)
- Obligations and contracts, Revised Corporation Code
- Revenue recognition and financial instruments
Key Takeaways
The BOA syllabus is comprehensive, but not every topic carries equal weight. Strategic preparation means identifying high-impact areas while ensuring you have foundational knowledge across all subjects. Use Akawntant's structured quiz system to practice topic by topic, building confidence systematically. Remember, the exam tests both breadth of knowledge and depth of understanding—balance is key.
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