Schedule 10, BIR Form No. 1702-MX: A Test of Intelligence. Are you ready?

Play now the 🥦 'ACCOUNTING GAME' 🥦
Challenge yourself even if you are not a CPA, accountant, bookkeeper, lawyer or consultant. This is a test of your understanding of a simple instruction shown in the Schedule 10, BIR Form No. 1702-MX.

🚩STORY:🚩Many CPAs, accountants, bookkeepers and those who are involved in the preparation of Annual Income Tax Returns (BIR Form No. 1701 and BIR Form No. 1702) and Audited Financial Statements recommended that you use the managerial accounting entries (Meaning, make these entries in your BIR registered books of accounts). Then, afterwards, the external CPA will pressure you that you reconcile your managerial accounting entries with the financial accounting entries (CPA's PFRS, PAS & PSA) so that your external CPA can prepare, sign and release an Auditor's Report that the SEC and some banks required. Your external CPA will require also that you approve and sign the so-called PAJE (This means that you may reject your external CPA's financial accounting entries. ETM suggests that if you knew PFRS, PAS & PAS very well and without the help of any professional, can explain such to the BIR, then well and good, go for the PAJEs but if you are ignorant of such, don't be tempted to approve and sign the PAJEs, For the past 30 years of ETM tax practice, they are the sources of many taxpayers' heartaches and headaches). Since the managerial accounting entries and financial accounting entries are NOT LAWS OF THE REPUBLIC OF THE PHILIPPINES, your CPAs, bookkeepers, accountants, lawyers and other professionals engaged in the practice of taxation will require you to reconcile your managerial accounting entries to the tax accounting entries, financial accounting entries to the tax accounting entries and financial accounting entries to the managerial accounting entries. These are the backlogs that many taxpayers who received BIR audit investigation notices such as eLA, LN, SDT, MO, Access Letter, etc. encountered.

😁ACCOUNTING GAME (Multiple Choice):
Pursuant to the Schedule 10, BIR Form No. 1702-MX (see the picture below, which shall be reconciled?
(a) Financial accounting to Taxable income
(b) Managerial accounting to Taxable income
(c) Financial accounting to Managerial income
(d) Tax accounting to Financial income
(e) Non-compliant expenses/income to the Tax Code

Those who will place their answers, whether such is correct or not, in the Comment hereunder shall be given a 👨‍🏫FREE ACCESS to the course 'The Hidden Benefits of Using the Schedule 10, BIR For No. 1702-MX?' ❤️@TaxationProfessionalUniversity.com or may purchase the lecture at P2,240.00 for an unlimited access. Thanks.

PS: THIS OFFER IS UNTIL SEPTEMBER 10, 2017 5PM.