Online-exclusive visual guides
1. The journey of one transaction — from receipt to decision
Follow a single ₱5,000 cake order through the four phases. Notice exactly where the bookkeeper stops and the accountant continues.
Exam tip: the bookkeeper performs phases ①–②; the accountant performs all four. The dividing line — Interpretation — is what no software fully automates.
2. "Which branch do you call?" — scenario map
Six real-life requests, each answered by a different branch of accounting. None of these scenarios appear in the book.
| Someone asks… | Branch that answers | Why |
|---|---|---|
| "Can your bank see statements that fairly present your business?" | Financial Accounting | External user (creditor) → general-purpose FS under PFRS. |
| "Should we open a second branch in Cebu next year?" | Management Accounting | Internal planning decision; no external standard governs the analysis. |
| "How much does it really cost us to produce one tub of ice cream?" | Cost Accounting | Product costing for production managers. |
| "Is the city's flood-control budget being spent as appropriated?" | Government Accounting | Public funds, governed by COA/GAM. |
| "What's the most tax-efficient way to structure this sale?" | Tax Accounting | BIR compliance and planning. |
| "Will an independent CPA attest that these statements are fair?" | Auditing | Independent verification for external credibility. |
3. Standard-setters family tree — who writes the rules?
Memory hook: FSRSC = Follows IFRS. FASB = FAr from IFRS (its own GAAP).
Practice tools
Tool 1 · AFS & Bookkeeping Compliance Checker
Enter an entity's profile and see its audited-FS requirement and record-keeping obligations under the NIRC as amended by the EoPT Act.
Tool 2 · Bookkeeper or Accountant? — task sorter
For each task, decide who performs it. Instant feedback per item.
Quiz · Twenty brand-new items
These questions are not in the book — fresh scenarios testing the same chapter outcomes.