CONFESSION OF A CERTIFIED PUBLIC ACCOUNTANT AND UNIVERSITY PROFESSOR..

CONFESSION OF A CPA-PROFESSOR? 
(Read also OFW's BEST NEGOSYO FOR SELF AND FAMILY MEMBERS and SAVING CASH FROM CPAs, BOOKKEEPERS, COUNSELS AND CONSULTANTS' PROFESSIONAL FEE)

by Katax.ETM facebook @kataxpayer @ gmail.com 
@5692885 @0932 8737475 @0922 8620922

A CPA who is a professor of a university, approached ETM Tax Agent Office to seek help and assistance to his big problems that he, himself, created.

To save money and practice what he is teaching to his students, he handles the bookkeeping aspect of his small but profitable business. By doing so, he used the well-known and allegedly accepted 'generally accepted accounting principles' (GAAP) which is now known as the Philippine Financial Reporting Standards (PFRS).

However, to his dismay, when his business was subjected by the BIR to be under scrutiny and investigation, he should be paying so much deficiency taxes for the use of GAAP/PFRS created disparity from and violation of the law of the State that is the National Internal Revenue Code (NIRC, Tax Code).

He confessed that in reporting his income and expenses for income tax purposes, it is not advisable to use GAAP/PFRS because it create tax problems and increases the taxes that he should be paying. Unlike, as he continued, the use of the NIRC would reduce the tax exposure and the tax that he would be paying to the BIR.

The moral lesson is that even a seasoned CPA agreed that GAAP/PFRS is good only for teaching students to fall in line and does not solve the tax problems or create tax opportunities to the users. The financial statements to be prepared and submitted to the BIR, not only by CPAs but also all of the taxpayers, should always be relevant, admissible and material not for the eyes and entertainment of non-BIR people but to the delight and discernment of the true, direct and actual users of the said financial statements that is the BIR.

FOR FREE BIR-COMPLIANT SOFTWARES
1. PAYROLL
2. BOOKKEEPING
3. COMPUTERIZED ACCOUNTING SYSTEM (CAS/ERP)

Please get your copy by way of emailing your name, company, address, mobile, landline, fax-number, email address, scanned copy of BIR-COR and three friends who, as you believe, would be needing the BIR-Compliant Software @Kataxpayer@gmail.com or call the phones stated above.

Be an Entrepreneur. Be a Business Person Outsourcing
1. Payroll Master
2. Business Registration, Renewal and Retirement Specialist
3. Tax Returns and Reports Preparer
4. Tax Bookkeeper

Subject to change without notice and obligation. As a privileged communication, this shall be read as Katax.ETM's conviction and belief.

Salamat! Thanks!