ACPACI Files

ACPACI Files
July - December 2014
ACPACI Newsletter
Official Newsletter of the Association of CPAs in Commerce & Industry
VOLUME 6 ISSUE 2
July - December 2014
President’s Message
Moving Fast Forward
For many of us,
goodbyes are sad refrains. But for me it is a mingle
of emotions and I daresay that the feeling of gratitude and joy
in my heart far outweigh sadness as I leave the presidency of
ACPA CI.
When I took my oath of office in January of 2014, I was uncertain
that I would surpass even its innate challenges, but now, I realize
that such uncertainty has actually led me to an opportunity to
find a new meaning to my professional life which I will forever
cherish throughout my career.
I’m amazed at how much I’ve learned for the past 12 months of
my ACPACI life, even as it featured an unrelenting fight against
the rush of time and balancing my personal life and office work
with my role as head of this prestigious organization. By virtue of
being an ACPACI steward, I was on the “spotlight” and have been
exposed to challenging tasks of planning and conducting relevant
seminars and conferences, expanding social and professional
links, engaging in outreach programs, participating in committee
works and many other activities to achieve ACPACI’s intended
goals for the year. Everything that I do, every people I stumble
upon, have changed my life for the better, one way or the other.
#MovingForward, ACPACI’s battlecry for the year has somehow
propelled our determination to better ourselves in carrying out
our mission of participating in nation building and in ensuring
that we would be able to cope up with the fast-changing business
environment of today, particularly, with the coming of ASEAN
integration in December, 2015.
Testimony to this are some remarkable achievements of ACPACI
during the year such as – We were able to reach more professionals
during the 2014 Joint ACPACI-PICPA ANC, as it registered a 54%
increase in attendance over last year and it being the highest so
far in our ANC history. Another highlight is that we have intensified
our working relationships with PICPA and other sectoral organizations –
ACPAPP, nACPAE and GACPA, bounded by the need to closely
collaborate in assisting the newly-installed members of BOA in
its dedicated mission of making the accounting profession a cut
above the rest. Alongside is the creation of various working
c o m m i t t e e s s p e a r h e a d e d b y P I C PA t o w o r k fo r t h e
institutionalization of the accounting profession. We have conducted
seminars and conferences on the current trends and updates on
accounting and taxation, vis-a-vis the need to learn strategies to
navigate the global market, delivered by notable speakers. And
then we have successfully reactivated our Luzon and Cebu Chapters
with some 150 new members who joined our fold. In progress is
the setting up of the Bacolod and Davao Chapters. We have levelled
up our investment for the future of the accounting profession;
that is, we have increased by 67% our financial assistance to
ACPACI’s ten accounting scholars, with the magnanimity of some
ACPACI officers.
Achievements arise from heart and passion.
It is so fortunate that the 2014 ACPACI board
members possess these great qualities. I
convey my heartfelt gratitude to all of them,
particularly to our Executive Director, Ms.
Winnie Cuico, to the chairpersons of different
committees, to the Secretariat and to ACPACI’s
past presidents. The sweet memories we
have created together will forever caress
my heart. My warmest gratitude also to my
employer, the University of the East, to Vice-Chairman Jaime J.
Bautista, President Ester A. Garcia and EVP Carmelita G. Mateo
for their unrelenting support to all ACPACI activities and their
compassion to what ACPACI stands for.
I also wish to thank God Almighty for the opportunity given me
to serve the accounting community and we dedicate all that we
have accomplished during the year to GOD, the Supreme source
of knowledge and wisdom!
Ms. Feliciana B. Santos
ACPACI President
2015 Theme:
ACPACI: Soaring High
Our theme #MovingForward in 2014 was perfectly embodied
in our token of appreciation made of stainless steel on a wood
base depicting people sailing and advancing towards the horizon.
Well, for 2015, if we were to design our trophy for our Soaring
High theme, it would most likely be represented by a rocket ship.
What does it mean? TRAILBLAZING, UPWARD MOMENT.
We are FIRED UP as we throw open the doors to 2015. Our RESOLUTION?
To be better in everything that we do. To provide our members
the best trainings and programs that we can offer to equip them
with the right competencies and set of skills for their professional
and personal advancement. To expand our reach by creating more
ACPACI Chapters across the country. To embrace the challenges
brought about by the changes not only affecting the Accounting
profession but also the nation as a whole, such as the ASEAN Economic
Community. To raise the members’ competitiveness even higher
by sharpening their vision and seeing the opportunities that lie
behind this barrier-breaching ASEAN Region undertaking; to take
advantage of this dynamic paradigm shift of practicing the
Accounting profession, from local to global.
There will be no crying for the status quo. The mood from sea to
shining sea is a rejection of outmoded attitude and cliché trends.
ACPACI is 100% committed to be a launch pad for change.
As we INAUGURATE a new year and a new term, the state of the
Accounting and business landscape is a LIFT and a PUSH to an
even more ground-breaking future. Just like astronauts piloting a
rocket ship, ACPACI will aim for the stars, follow the sky and soar
high. Here’s to remembering the words of Robert Browning: “Ah,
but a man’s reach should exceed his grasp, or what’s a heaven
for?”
1
2
ACPACI Newsletter
July - December 2014
ACPACI’s 2014 ANC:
‘Twas a Great Convention
(Wish you were there)
There and back again
“Moving forward, yet looking back,” aptly describes the 2014 Annual
National Convention of the Association of Certified Public Accountants
in Commerce and Industry (ACPACI) in collaboration with the Philippine
Institute of Certified Public Accountants (PICPA) last September 12 to
14, 2014 at the Baguio Country Club in Baguio City.
It pays to have a good sense of irony. After skipping Baguio City for
four years and holding its conferences in key cities and tourist
destinations like the City of Vigan, Puerto Princesa City, Palawan, Cebu
City and Naga City, the three-day convention, anchored on the theme
#MovingForward, returned again in the City of Pines. Like the hobbits
who travelled to Middle Earth-- from The Bree, to Rivendell, to Gondor
and Mordor-- but came back to The Shire in JRR Tolkien’s The Lord of
the Rings, ACPACI went back to Baguio City- wiser, better and a stronger
organization.
Opening Ceremonies
The program’s opening salvo was a lively and colorful cultural
presentation of students from the Baguio City National High School
for Special Programs in the Arts. This was followed by the Declaration of Opening of the Convention by the 2014 ANC Convention Chair,
Mr. Aphat C. Martinez and the messages from ACPACI President, Ms.
Ning Santo and PICPA President, Ms. Tita Caluya. Baguio City Mayor,
Hon. Mauricio Domogan, graced the occasion to convey his message
and to perform the symbolic Transfer of the Key to the City, formally
proclaiming the commencement of the well-attended conference.
Reverend Father Elgar Aromin Bautista, CICM of St. Joseph Parish in
Irisan, Baguio City delivered the Keynote Address on behalf of Rev.
Fr. Jessie Hechanova, President of St. Louis University –Baguio. In his
spiritual speech, Rev. Fr. Bautista spoke about “How a CPA Can
Become an Image of God?” He said that “spirituality increases morale
and promotes productivity,” and “leading is like shepherding, you’ve
got to get close to your people and get personal; know their condition
not only their work status but also their personal status.” He stressed
that “being kind allows you to network and it allows you to get the
help and support of your people; do mentoring before expecting
accountability.”
Among his pieces of advice about leadership: “to build bridges, not
walls; a leader should be approachable, sympathetic, always listening
and willing to cooperate; to focus on the good qualities of a person;
to listen to learn and to empathize by putting oneself in the others
place; keep the fire of enthusiasm burning and work harder, faster
and never give up; strive for professionalism.” At the end, he sagely
counselled the enraptured crowd that life is more than work; find joy
and live your best life every day. Fr. Bautista’s keynote address was
more than a speech, it gave a profound feeling of renewal, like having
a mini makeover of the soul; it was blissful, transcendent and a high
that lingered.
Technical Sessions
The ANC had a jam-packed schedule, right after the opening ceremonies,
the technical sessions ensued. Mr. Marcial Morales, CEO of the Atlantic,
Gulf & Pacific Company of Manila (AG&P), spoke about his steep
ascent to success from being AG&P’s accounting executive to becoming
its Chief Executive Officer in the first session dubbed as CPA to CEO: A
Transformational Career Journey. In his lecture, Mr. Morales
discussed his realizations and wisdom such as “struggles are small
steps in preparing for much bigger challenges in career and life as a
whole,” because life is a journey and rarely a straight path; even a
roadblock is a chance to learn and every crossroads helps you decide
what you really desire.
Technical session 2 was about IT Trends and Solutions: What We Still
Don’t Know. The speaker was Mr. Warren Bituin, SGV Partner. More
The Glorious Reasons Why I Heart
Baguio City
The center of Baguio’s universe maybe the cool climate and the
atmospheric pine trees, but there’s joy to be found around every
corner.
Baguio continues to lure travelers and conference goers like me
with its burgeoning art and cultural scene, museums, pop-up musical
events and festivals, sprawling parks and open spaces; its indigenous
dresses, friendly locals, fresh fruits and vegetables, shopping
centers, fresh-food public markets; its clutch of small, stylish, and
affordable hotels, cafés and restaurants; its houses spilling down
the side of the hills, its plentiful and inexpensive public transport system
and European-like weather; its rustic ambiance, its countryside,
farmlands and foggy highlands. Also, Baguio City emerges as
one of the hot spot cities for meetings, conventions and exhibitions.
These and more are the reasons why Baguio City remains one of
the most vibrant destinations of the Philippines, and why I love to
go back to Baguio City.
Points of Interest and Landmarks
Baguio has a lot of tourist attractions and scenic temptations, and
most of these pleasant diversions are easily accessible via jeepney,
FX or taxi from Session Road such as Burnham Park, Wright Park,
Mines View Park, Baguio Cathedral, The Mansion plus more.
You may not bring Baguio City with you, but you can bring its essence
and spirit by shopping for souvenirs and tokens to bring home
with from the numerous boutiques and bazaars along Session
Road. For the budget hunters like me, you can meander to the
chiaroscuro of labyrinthine alleys and stalls in the expanded Baguio
City Market that can also be found along Session Road.
Sylvan. Avian. Humans.
We (me and my office mates) recently attended a convention
for accountants at the Baguio Country Club and we had meals at
BCC’s rustic Veranda restaurant with the view of the golf course
surrounded with pine trees. We were presented with a bevy of
tasty farm to table food to feast on meal after meal after meal.
They served this heavenly raisin bread which they baked themselves.
The raisin bread was a precision-calibrated cudgel of flavor and
disappeared too quickly in my mouth. Somehow, I have found the
ne plus ultra of raisin bread in Baguio City.
One night, I saw this mist from a distance and it slowly rolled towards
the open-air restaurant until it reached us, the diners and I felt the
chill in the air. I guess this is one of the advantages of being in the
highlands-- getting up close and personal with the clouds. Also,
at the Veranda, I witnessed something stupendous: intrepid birds
hopping from table to table and sharing meals with the guests.
These winged wonders sojourned our table too. The staff didn’t
shoo them away and the guests were cool about it and didn’t
mind at all. Forget AH1N1. The symbiosis among sylvan, avian
and humans was magical and something that thrilled me and lifted
my heart. It was a great experience.
In Baguio, your “must-do” and “must- see” list continually grow,
and there’s never enough time. Some people may think that
they’ve seen enough of the City but in truth, Baguio City has more
fascinating layers to reveal specially for those who linger a little
longer. You just keep coming back.
than bits and bytes, this session tackled significant progress in information
technology as well as current, around the corner and the next big thing
in the digital and IT world: social media, smart phones and tablets, webbased applications and software applications, digital money, “the
internet (or interconnectivity) of things”, BYOD (Bring Your Own Device),
BYOC (Bring Your Own Cloud),etc. Mr. Bituin likewise identified many
of the risks and challenges that businesses face in the digital
transformation era such as losing its control over customer relationship,
increased competition and risk of commoditization, hacking, phishing,
privacy issues and fraud among others.
The third and last technical session for that day was Enhancing Financial
Management Skills by Mr. Raoul Villegas, Isla Lipana & Co. Director.
Mr. Villegas impressed and captured the interest of the participants
with his eloquence and guided them with his practical and useful
presentation to step-up and boost their financing prowess like choosing a
mentor, knowing the business model, being updated, working collaboratively
and maintaining a healthy curiosity for learning among others.
Indeed, these are sure-fire formulas for the accountants to further
harness their financial management skills and reach the top.
Fellowship Night 1
It’s (Throw) Back to the ‘80s
The first ANC fellowship night paid tribute to the 1980s, a decade
where big hair, big accessories (door-knocker like earrings-- the size of
golf balls) and oversized shoulder pads were ubiquitous. Aerobic socks
in delectable lollipop stripes and tight short shorts like Jaworski and Bjorn
Borg used to wear were very much in vogue. Facebook, internet,
mobile phones were non-existent, instead, there were those ancient
analog telephones with rotating plate and numbered holes. One had
to wait for the plate to return to its original position before moving on
to the next digit. Queen, Madonna, Hall & Oates, and Nazareth were
staples on the airwaves. Nazareth’s “Love Hurts” and Madonna’s “Like
a Virgin” were regarded as the “theme songs ng bayan” (theme songs
of the land). Apple’s iPads and iPods were still just a gleam in the eyes
of Steven Jobs; songs were stored in cassette tapes and the cassette
players became the people’s favorite music-purveying machine, especially
those jeepney drivers and teenagers – imagine the boombox-toting John
Cusack in the ‘80s coming-of-age movie, Say Anything.
Baguio Country Club’s (BCC) Forbes Ballroom is an ideal space for the
Fellowship Night. The area is sprawling, more than enough to accommodate all
Boun Giorno, Pinocchio!
The Association of Certified Public Accountants in Commerce and Industry
(ACPACI) once again was fired up to make a difference by sponsoring
the opening night of Pinocchio by the Repertory Philippines at Onstage
Theater, Greenbelt 1 in Makati City last August 16, 2014.
Children and adult alike had a great time watching the play set in Italy
with a cast composed of a life-sized wooden puppet named Pinocchio and
his father Gepetto, the puppet-maker who created Pinocchio, the Blue
Fairy plus a sundry of other colorful characters. The opening song was the
lively “Boun Giorno” sang by Antonio, the narrator. “Boun Giorno”
is an Italian greeting for “Good Day.” The play was interactive and
informative because after “Boun Giorno”, Antonio asked a kid from
the audience to literally put Italy in the map of Europe. Even after the
show, the kids and grownups were still singing “Boun Giorno” from
inside the playhouse up to Greenbelt mall as if somebody pumped up
a theatre-load of karaoke spores.
Pinocchio is a story brimming with valuable lessons. It’s more than just
not telling a lie or your nose will get longer. There are lessons about
unconditional love of a father to his son, children must obey their parents
(they only want the best for them), they should not skip school (or
they will turn into donkey), be nice and their wish will be granted (by
the Blue Fairy) and lastly, this lesson that children are impressionable
and vulnerable, they need to be protected from unkind people like the
Coachman or the Cat and the Fox in the play.
The event was a fund-raising activity of the Association for the benefit of
its Accounting scholars from the Polytechnic University of the Philippines.
July - December 2014
ACPACI Newsletter
3
the delegates, and it echoes a rustic-cozy vibe and adirondack charm
with its ochre timber-panelled walls and ceiling, which complement
the canopy of amber glow emitting from the antler chandeliers hanging
from the rafters.
When it comes to food, BCC did not disappoint. BCC served up great
selection of yummy seafood and meat dishes, fresh and locally foraged
fruits and vegetables and delicious desserts with special mention to
their melt-in-your-mouth raisin bread which BCC baked themselves.
The bread is worth sacrificing your waistline for. Pure gold. The staffs
were so attentive and friendly and very eager to please the guests.
Opening the ballroom’s double doors, one was greeted by the ‘80scentric tableaus: ACPACIANs and guests dressed in their Bagets,
Grease, aerobics and Madonna outfits; the tabletops layered with
colorful satin linens-- yellow, orange, green and red, representing the
different teams (yellow /Sunflower power group; orange /Everlasting
love group; green / Christmas/Pine tree team and red/ strawberry
jam team) competing in the well-conceived parlor games prepared
by the Fellowship Committee that night, care of Ms. Kathie Sobremonte, Fellowship Committee Chair, who also hosted the event along
with funny guy, Mr. Benette Consolation ; the tables dressed-up with
shallow bamboo vessels filled with flowers as the focal point, and
adorned with eye-catching accents like table cards etched with “I Love
‘80s” and pictures of that era’s icons- humans and otherwise- such as
Boy George, Mr. T and Voltes V. The table setting delivered in the cute
department, playful – a work of art. Hat’s off to ANC Chair, Mr. Aphat
Martinez, the Sports & Fellowship Committee team and his Red Chef
team.
Friendly competition ensued after dinner. The four teams faced off
each other in a plethora of brain-twisting and challenging but equally
entertaining games like: Name that Line, Name that Tune, Jeopardy,
etc. In the Name that Line game, they were asked to identify from
which movie a particular line came from. The Yellow/Sunflower Power
team won that round. It was a close fight between Yellow/Sunflower
Power team and Orange/Everlasting Love team, but the former bested
the latter, though, by mere two or three points. Also, noticeably, the
members of each team would do just about anything to score points;
their “gumption” and high level of energy were almost palpable. There
was something original about this Fellowship Night: real community.
The night was drenched with a lot of “all together now” moments,
which made the get-together a truly memorable one.
Continued on page 6
4
ACPACI Newsletter
July - December 2014
ACPACI’s “Male Kalikimaka” Party
The Association of Certified Public Accountants in Commerce
& Industry (ACPACI) held its 7th General Membership Meeting
(GMM), General Election and its annual Christmas party.
Members and guests, dressed in their thoughtfully fashioned
Luau outfits, attended the meeting/election and celebrated
a “Male Kalikimaka” (that’s the Hawaiian “Merry Christmas”)
Party last December 5, 2014 at the Hotel Intercontinental Manila
in Ayala, Makati City.
Cup of Cheer
As always, ACPACI’s Yuletide gathering was a success for the
attendees embraced an evening that gave nod to the cheeriest
season of the year. They shared a delicious gourmet meal
prepared by Hotel Intercon. The delectable array of entrees’
like the classic favourites: lapu lapu luxuriously bathed in butter
lemon sauce, the mouth-watering barbecued pork spareribs
topped with bell peppers, tomatoes and onions, and the tasty
toasted chicken with paprika sauce sprinkled with scallions
and cilantro sprigs.
The amazing appetizers and taste-bud tempting tidbits
of assorted bruchetta, the sophisticated rosace tomato mozzarella,
an assortment of cold cuts, savory vegetable side dishes and
fresh salads, platters of sushi and sashimi turned the assembly
into a party-extraordinaire. The hearty and delicious cream of
pumpkin soup revved up with crunchy croutons warmed the
soul and was a steaming bowl of comfort and joy. The festive
fete concluded with sweet endings-- a dessert bar laden with
ambrosial pies and cakes featuring succulent fruits and velvety
chocolates with festive flair, creamy cheese cakes, drippy and
pillowy crepe samurai-- just a bite or whole slice, these honestly
delicious confections inspired the merriment of the season.
Kalikimaka. Kili-kili. Kabuki.
Sounds of laughter accompanied the gentle clinking of glasses
and cutlery during the presentation of well-conceptualized
and creative parlor games prepared by ACPACI Fellowship and
Sports Committee. The program was hosted by the Fellowship
Committee Chairperson, Ms. Kathie Sobremonte.
The first game was the “Lei Relay” contest, wherein each team
member of the two groups, Team Kili-Kili and Team Pearly
Shells, was tasked to pass the flower garland by slipping it
from over the head down to their feet and giving it to the
next member and the next up to the last member of the group
assigned to drink the pina colada cocktail and shout: “Male
Kalikimaka ACPACI!” in the finale. Team Kili-kili finished the
game ahead and trumped team Pearly Shells.
The next one was “Dress a Hula (hoop) Girl”. This was again
a relay contest with two groups competing, the “Young Once”
versus the “Young Ones”. The object of the game was to assign
a member to be the “Hula (hoop) Girl”. The other members
would dress the Hula girl with grass skirt, leis and the whole
shebang, and when they’re done, the designated “Hula girl”
would spin the hula hoop thrice. This process was repeated with
the other members, until the last member had been dressed
like a “Hula girl” and had spun the hula hoops thrice. The
Young Ones trounced the Young Once in this game.
Another fun game readied by the Fellowship Committee was
the “Make My Hawaiian Face Contest”. There were three
“make-up artists”: ACPACI Directors, Cecille Carandang, Janis
Maghinay and Nanette Tabuac, and three models or “facial
canvasses,” who were ACPACI scholars and all guys. Ms. Tabuac
was adjudged as the best “make -up artist” with her Japanese
“Kabuki” make-up style, also known as the “matte-finish”
make-up because, “matte-tatakot ka pag finish na yung makeup.” (You’ll be frightened once the make-up is finished.) Ms.
Tabuac’s model’s face looked so pale, reminiscent of a diseased
hippopotamus with red-hot mouth and he could pass off either
an extra in The Walking Dead series or a portrait in totem
poles.
The best in costume that night went to Ms. Winnie Cuico, ACPACI’s
Executive Director and Mr. Al Casa of Masepragma. Ms. Cuico
was Vogue-ish in her elegant floral dress with matching leis.
The parlor games winners and runners-up scored gifts and
certificates given by various sponsors like 7Eleven, SM, Gardenia,
Starbucks, UE, Interdent, etc.
Salutations, Election, Revisions and the Power of Four
On a serious note, ACPACI 2014 President, Ms. Ning Santos,
welcomed the members and guests and delivered her Christmas
message at the beginning of the program. During the festivity,
ACPACIANs took time to vote and cast their ballots to choose
the new officers of the Association for 2015. Also, they ratified
s o m e o f t h e p r o p o s e d c h a n g e s i n A C PA C I ’s A r t i c l e s o f
Incorporation discussed by ACPACI Executive Director, Ms.
Winnie Cuico, such as extending the term of a Board of Director
from four (4) years to five (5) years, and allowing other CPAs
who are members of other sectors such as ACPAE (Association
Continued in page 6
16th Search for Outstanding Accounting
Students of the Philippines
For 15 years, the Association of Certified Public Accountants in
Commerce and Industry (ACPACI) has strived to recognize exceptional
students among the thousands of those aspiring certified public
a ccou nta nts a l l over t h e P hilippines thro ugh the S earch for
Outstanding Accounting Students.
On its 16th year, the search is officially on when qualifying exams
were given to Accountancy students of universities and colleges
across the country on October 18, 2014. Out of them, 25 were
distinguished, led by the highest scorers: Jowls Fell T. Acuña and
Jamaica J. Marjadas, both from University of San Carlos.
The grand finals attended by these 25 students were held at Century
Park Hotel, in Manila on December 12, 2014. Emerging victorious
in this year ’s search is Sharmaine Dianne C. Mamaed from Ateneo
de Davao University. She is trailed by 2nd Placer Michael John D.
David and 3rd Placer Catherine Joyce C. Espineda from Holy Angel
University and Wesleyan University, respectively.
The Search for Outstanding Accounting Students is one of the
p r o j e c t s c o - f o u n d e d b y A C PA C I t o g e t h e r w i t h M r. S a m
Villacampa of Philippine Duplicators; this year ’s search is spearheaded by auditing firm Punongbayan & Araullo and is chaired
by its Partner, Ms. Paz Malubay, who is also the ACPACI Committee
Chairperson for Special Projects.
GMM 4
Accountancy Week Celebration:
ACPACI Holds 2014 Controllers
/Accountants Summit
July - December 2014
ACPACI Newsletter
5
Practice but also in Government and most specially those in the
Commerce and Industry. The Board would tap ACPACI to accommodate
the renewal of licenses of those CPAs under its sector.
Also, according to him, “Accountants who do not want to take the
board exam may take assessment exam which BOA will be accrediting,”
and they could “pursue work employment other than public practice
such as Internal Audit, Forensic Audit, government or education
posts.” He also informed the members and guests that BOA would
push for the CPA’s use of the title “Accountant” or “Accntnt” in
abbreviated form (e.g., Accntnt Juan de la Cruz, CPA) in the
same manner that doctors, lawyers and engineers rightfully use
their titles.
In observance of the Accountancy Week Celebration, the Association
of Certified Public Accountants in Commerce and Industry (ACPACI),
together with the Philippine Institute of Certified Public Accountants
(PICPA), held its 2014 Controllers/ Accountants Summit at the Hotel
Intercontinental Manila in Makati City last July 15, 2014.
The event was guided by the theme: #MovingForward which aimed
to provide ACPACI members the necessary tools to help them upgrade their skills and competencies, and to keep them updated
with the current developments in accounting, finance, general knowledge
and business environment. The one-day summit sponsored
by ACPACI was full-packed with technical sessions which began with
an eye-opening lecture of Mr. Michael Gallego dubbed as “Market
Gap Analysis & Strategy Formulation: The Quality of the Supply of
Accounting Graduates and the Demand for Accounting Recruits.”
Mr. Gallego answered the basic question: “What are the employers
looking for in recruiting qualified CPAs?” and he presented the
trends in the demand and supply of public accountants, the gaps in
competencies, and his recommendations to narrow down the gaps.
In the Luncheon Meeting, Mr. Joel Tan-Torres, the newly appointed
Board of Accountancy Chairman, pitched in for Ms. Thusita V.
Perera, Chief Finance Adviser of Holcim Philippines, Inc. Mr. Tan-Torres
delivered the Board of Accountancy’s message: Expanding Horizons,
BOA’s plans in the immediate future, and he made “tsunami”
announcements to the AWC delegates. BOA would require renewal
of CPA license across sectors, not only in the Education and Public
Mr. Tan- Torres focus and dedication to establish a better BOA was
awe-inspiring. He was a pillar of wisdom much like the “Dumbledore
of Accountancy” sans the pointy hat and beard, and the audience
keenly listening to his lecture and “tsunami” announcements were
students of Hogwarts School of Accounting Wizardry.
“Public Speaking 201 for Accountants” followed thereafter. The
session was handled by the humorous Mr. Aron Gugna, Founder
and President of Creative House, Inc. Mr. Gugna offered techniques
and pointers in giving a memorable speech and how to deliver a
joke, etc. The last technical session was called “Controllers: Are
you ready to level up?” This was facilitated by Ms. Mary Jane O.
Rosales, CPA, CIA, CCSA & CRMA and Capacity Development Consultant.
Ms. Rosale, in her speech, answered the question: “how to level
up?,” defined the key roles of a Financial Controller, the drivers of
Controller’s role, the demands of the Controllership position and
the balancing acts required to fulfil such role.
Other highlights of the affair were the messages to the plenary of
ACPACI President, Ms. Ning Santos and PICPA President, Ms. Tita
Caluya, the presentation of token of appreciation by the two aforementioned Presidents and AWC Chairs, Mr. Aphat Martinez and
Ms. Geraldine Apostol and the induction of new ACPACI members.
The program was hosted by ACPACI Director, Ms. Janis Maghinay.
During the summit, ACPACI took the opportunity to disseminate its
January – June 2014 issue of ACPACI Files, the official newsletter of
the Association.
SOCIAL INVOLVEMENT COMMITTEE
May 25, 2014 - MEDICAL AND DENTAL MISSION.
For the past twelve (12) years, ACPACI was indeed blessed being an instrument
of God’s generosity thru its Medical and Dental Mission. The activity was
successfully conducted last May 25, 2014, at Sitio Lambak in Quezon City.
It was in partnership with the Parish of the Lord of the Divine Mercy
represented by its Social Ministry. Free medical services such as checkup and immediate dental care and free medicines were availed by 138
children and adult. It was supported by a group of dedicated doctors and
dentists from the Parish of the Lord of the Divine Mercy. Present during
the outreach were Board of Directors, Committee members and officers,
Secretariat and Ms. Connie Cadelina, Acpaci Past President.
October 25, 2014 - Visit to Female Inmates of Camp Karingal
“National Correctional Consciousness” is observed every October and it
has been ACPACI’s tradition to sponsor a visit to Camp Karingal every last
weekend of October.
ACPACI
Files
Editorial
Board
Continued in page 8
Felicidad V. Avila
Nanette N. Tabuac
Feliciana B. Santos
Chairperson
Liaison Director
ACPACI President
Publication and Website
Contributors: Winnie G. Cuico
Cristina M. Gajunia
Fritz Kein T. Ortiz Edna L. Constantino
Please visit our website:
www.acpaci.com.ph
6
ACPACI Newsletter
July - December 2014
ACPACI Holds 6th GMM,
Seminars on SEC’s ASEAN Integration
Readiness, Professional Presence and
Wealth Creation
True to its mission of providing continuing professional education for its
members, the Association of Certified Public Accountants in
Commerce and Industry (ACPACI) held its 6th General Membership
Meeting and seminars on the Securities& Exchange Commission’s
ASEAN Integration Readiness, Professional Presence and
Wealth Creation at the Bahia Room of Hotel Intercontinental
Manila in Ayala, Makati City last October 16, 2014.
Atty. Emmanuel Y. Ariza, Officer-in-Charge, Office of the General
Accountant of SEC, opened the conference proper and served
as the Luncheon Meeting speaker of this half-day seminar
organized by the Association. Atty. Ariza presented to the
members and guests the SEC ’s undertaking and preparations
for the forthcoming ASEAN Integration. The ASEAN Integration
seeks to create a single/integrated market where all the ASEAN
countries can trade their bonds, debt/equity securities. He
also talked about the domestic and regional challenges posed
by the ASEAN + financial integration such as tax issues, lack of
awareness, our country’s inability to hedge investments, lack
of foreign participation in the domestic markets among others.
He showed the SEC’s blue print of its strategies towards full
financial integration from ASEAN to ASEAN +3(Japan, South
Korea and China) to APEC, Asia Pacific Economic Cooperation.
The highlight of the 6th GMM was the centrepiece talk of
Bb. Pilipinas-Universe 1997 and Managing Partner of Personi-fi Image Studio, Inc., Ms. Abbygale Arenas-de Leon, about having a
Professional Presence. Ms. Arenas-De Leon stood poised and
majestic before the awed attendees. She shared her experiences
and wisdom and provided them with helpful tips on how to
acquire a professional image and on how to maximize their
potentials, be it their professional and personal lives.
With her un-filtered beauty and flawless complexion, Ms.
Arenas-de Leon wowed the captive audience and won them
over with her charm, wit and her funny delivery. Her session
was highly participative and interactive. Aside from being a
former beauty queen, a model, a mother, a wife and an image
consultant, she is also a published author. She has a book entitled,
88 Things Every Professional Should Know or Else... At the
end of the session, a lot of ACPACIANs and guests bought a
copy of her book. They could find more of Ms. Arenas- de
Leon’s pieces of advice on professionalism in the book and
they believed that the book could equip them in enhancing
and advancing their professional lives. Truly, Ms. Arenas-de
Leon was the Queen of Cool. She rocked.
The final technical session of the GMM was dubbed, “Wealth
Creation- Traders Apprentice Way” (The Art of Speculation,
Trading and Investing). The talk was given by Mr. Tony Herbosa,
Founder, Traders Apprentice Philippines. Mr. Herbosa shared
Continued on page 7
Continued from page 4
of CPAs in Education), ACPAPP (Association of CPAs in Public
Practice) and GACPA (Government Association of CPAs) to
cross-over and become ACPACI members and vice-versa. The
latter was not permitted in the old Articles of Incorporation
of ACPACI. The ACPACI scholars saluted and thanked their
generous donors- ACPACI and its members- with an intermission
number; they crooned and danced to Mariah Carey’s All I
Want for Christmas.
Capping off the celebratory night was ACPACI’s annual Mooncake
Festival, a game of dice that venerates the winning power
of four. Whether you are into numerology or not, it is quite
obvious that in the Mooncake festival, four is the winning-est
number. FOUR = PRIZE GALORE. The more dice of four you
Continued from page 3
DAY 2
Sweat it all out!
Day two started with Zumba/Yoga exercises at BCC’s Infinity Garden.
The garden offers a breathtaking view of the mountain and pine trees
that make any outdoor activity picture-perfect. At 6:00 AM, it was time
for the delegates to workout and sweat it all out. It was a chance to
reboot oneself. ACPACI believes in the spirit-lifting and mood-elevating
power of Zumba/Yoga. The high-energy, one-hour routine (jumping,
squatting, stretching and arm and legs exercises) prepped the attendees for the day and technical sessions ahead. This was a group effort,
roll -- 2 fours, 3 fours, 4 fours, etc. -- the higher the prize.
The participants, ACPACI members, guests and ACPACI scholars
alike, enjoyed the game to the hilt and took home an abundance
of prizes, practical and useable at home, such as towels,
storage sets, electric kettles, rice bowls, kitchen gloves, flat
iron, dining sets, and the grand prize- 3D new generation
electric oven.
Just like in the previous years’ Mooncake festivals, nobody
went home empty-handed, everybody went home satisfied
and their hearts filled with Christmas gladness. The good
food, good vibe, camaraderie, relevant GMM, exciting games
and prizes, these are the perfect ingredients for a memorable
Yuletide evening. Crudely borrowing from Dorothy Gale’s
(The Wizard of Oz) ruby-shoes declaration, “ There’s no place
like ACPACI.”
the team with the most number of members who attended the session, earned the highest points, and that team was the Yellow/ Sunflower power team.
Technical Sessions
The technical session started off with What’s Hot in Tax?, and it was handled
by Mr. Wowie Roguel, Punongbbayan & Araullo Partner and ACPACI Director.
He discussed new BIR revenue regulations and pronouncements and
covered hot topics in taxation. Thereafter, Mr. Oliver Bucao, RG
Manabat & Co.- KPMG Partner, tackled IFRS Matters: The Latest and
Continued on page 8
July - December 2014
Feliciana B. Santos
President
Edward L. Roguel
Nanette N. Tabuac
7
ACPACI Newsletter
Cynthia A. Campos
Feliciana B. Santos
Edward
L. Roguel
Treasurer
& Liaison
Director
SecretaryDIRECTORS
& Liaison
ExecutiveBOARD
Vice President
2014 ACPACI
OF
President
Executive
Vice
President
For Ways
& Means
Publications & Website
& Liaison Director
& Liaison Director
Annual Convention
Annual Convention
Nanette N. Tabuac
L. Roguel
B. Santos
Secretary
& Liaison
ice President Feliciana
President & Website
Publications
n Director
onvention
Maghinay
Director
Development
Bien R. Constantino
Edna
L. Constantino
Liaison
Director
Auditor & Liaison
Director
Membership
Development
Social Involvement
& Scholarships
Cynthia A. Campos
Bien R. Constantino
Janis M. Maghinay
Edna L. Constantino
Cynthia A. Campos
Edna
L. Constantino
Nanette
N. Tabuac
Edward
L. Roguel
Treasurer
& Liaison
Director Auditor
Liaison
Director
Liaison Director
& Liaison
Director
Treasurer
&
Liaison
Director
Auditor
& Liaison
Director
Secretary
& Liaison
Executive
President Secretary
For WaysVice
& Means
&Involvement
Liason
Director
Development
Professional Development Membership
Social
For
Ways
&
Means
Social Involvement
Publications
& Website
Website
& Liaison Director
Publications
&
& Scholarships
& Scholarships
Annual Convention
Meynard M. Mendoza
Janis
M.Director
Maghinay
Liaison
Liaison
Director
Meetings
Professional Development
Gerard B. Sanvictores
Bien
R. Constantino
Liaison
Director
LiaisonProjects
Director
Special
Membership Development
Gregoria A. Guillermo
Meynard
Mendoza
LiaisonM.
Director
Liaison
Director
Election
Meetings
Nanette
Secretar
Publicatio
Aphat C. Martinez
Gerard
B. Sanvictores
Liason
Director
Liaison
Director
Liaison Director
Fellowship
&
Fellowships
& Sports
Sport
Special Projects
Meynard M. Mendoza
Janis
M. Director
Maghinay
Liaison
Liaison
Director
Meetings
Professional Development
Bien R.
Liaiso
Membershi
Consuelo O. Cadelina
Gregoria
A. Guillermo
Ex-officio
Liaison Director
Election
Aphat C
Liaison
Fellowsh
AphatChaye
C. Martinez
Shiela
AphatCOMMITTEE
C. Martinez
June Chaye Cabal-Revilla
Shiela Tamayo
Ofelia
Ortiz-Padiz
Aphat C. Martinez
June
Cabal-Revilla
Shiela Tamayo
OfeliaTamayo
Ortiz-Padiz
2014 ACPACI
CHAIRPERSONS
&Committee
SECRETARIAT
Committee
Chairperson
Committee
Chairperson
Committee Chairperson
Committee Chairperson
Committee Chairperson
Chairperson
Committee Chairperson
Committee
Chairperson
Committee Chairperson
Committee
Chairperson
Annual
Convention
Development
Annual Convention
Membership Development
Professional Development
MembershipProfessional
Development
Annual Convention
Membership
Development
Professional Development
Membership
Development
Guillermo
Director
tion
Aphat C. Martinez
Gerard
Sanvictores
LiaisonB.Director
Liaison Director
Fellowships
& Sport
Special Projects
Aphat C. Martinez
June Chaye Cabal-Revilla
Committee Chairperson
Committee Chairperson
Annual Convention
Membership Development
Consuelo O. Cadelina
Gregoria
A. Guillermo
Ex-officio
Liaison Director
Election
Aphat C. Martinez
Liaison Director
Fellowships & Sport
June C
Comm
Membe
Consuelo O. Cadelina
Ex-officio
June
Chaye
Cabal-Revilla
Shiela Tamayo
Lolita P. Tang
B. Cargullo
Lolita P. TangOfelia
Katherine U. Sobremonte
Jezaida B. Cargullo
V. Avila
LolitaOrtiz-Padiz
P. Tang Felicidad Jezaida
Katherine
U. Sobremonte
Jezaida
B. Cargullo
Felicidad
V. Avila
Ofelia Ortiz-Padiz
Committee
Chairperson
Committee Chairperson
CommitteeChairperson
Chairperson
Chairperson
Chairperson
Committee Chairperson
CommitteeCommittee
Chairperson
Committee Chairperson
CommitteeCommittee
Chairperson
Committee
Committee
Chairperson
Committee
Chairperson
Committee
Chairperson
Committee Chairperson
Membership
Development
Professional Development
Membership
Development
Social
Involvement
Meetings
Social Involvement
Fellowship & Sports
Meetings
Publications & Website
Social Involvement
Fellowship & Sports
Meetings
Publications & Website
Membership Development
&
Scholarships
& Scholarships & Scholarships
Felic
Comm
Publica
Continued from page 6
his wealth of experiences on how trading stocks, stock speculation, real At the end of each session, an open forum ensued. The open
property trading, and tapping into one’s instinct could help forum is essential and ideal for the exchange of ideas between
create and accumulate wealth and could make one rich. He the participants and the speaker. The 6th GMM attendees
spoke about how he transformed from being an OFW in New threw plenty of questions and points for clarification during
York toB.founding
Apprentice V.
Philippines,
the Q&A
portion
(especially
in
the Ma.
Professional
Presence
seminar Samu
Lolita P. TangTraders
Katherine
U. Sobremonte
Jezaida
Cargullo his own company,
Avila
Corazon
S. Villacampa
Rey
Cecile
Corazon S. ReyFelicidad
Paz V. Malubay
Samuel F. Villacampa
Cecile C. Carandang
Corazon S. Rey
Ma. C.
PazCarandang
V. Malubay
Samuel F.
Katherine
U.own
Sobremonte
Cecile
C. Carandang
V. and
Avila accumulate
toFelicidad
create
his
wealth
and
help
the
others
of
Ms.
Arenas-de
Leon).
Indeed,
the
GMM
is
a
perfect
venueComm
Committee
Chairperson
Committee
Chairperson
Committee
Chairperson
Committee
Chairperson
PICPA
Coordination
Committee
Chairperson
PICPA
Coordination
Committee
Chairperson
Committee
Chairperson
Committee
Chairperson
PICPA
Coordination
Committee Chairperson
Committee Chairperson
Committee Chairperson
Committee Chairperson
Committee Chairperson
Social
Involvement
Fellowship
&
Sports
Meetings
Publications
&
Website
create
and
accumulate
theirs.
In
his
lecture,
he
expressed
for
learning
and
disseminating
information
and
timely
updates
&
Chapters
Sp
Ways
&
Means
&
Chapters
Special
Projects
Special
Projects
Ways & MeansWays & Means
& Chapters
Special Projects
Special Projects
Fellowship & Sports
Publications & Website
& Scholarships
his belief that the “key to
creating wealth is gut feel/instinct,” to the members.
also, he opined that there are cosmic laws (law of Karma, law
of Dharma and law of least effort) that govern our lives and Other highlights of the program were the President’s Time,
we could apply these laws in wealth creation, in the same where Ms. Ning Santos, ACPACI President, discussed the
way that rainmakers like Jeny Lopez, Manny Pangilinan and Association’s achievements and future plans and other updates
Andrew Tan created and amassed theirs. He stressed that, “in concerning the ACPACI and the Induction of new ACPACI members.
the law of least effort, when something is for you – you don’t The token of appreciation was awarded to each of the speakers
have to lift a finger.” He ended his talk with this forecast: by Ms. Ning Santos; Ms. Aida Apostol, 2003 ACPACI President;
to invest on the “it” stocks in 2015-- buy power and gaming Ms. Connie Cadelina, 2013 ACPACI President and Ms. Arceli
Sison, 2000 ACPACI President. The event was hosted by Ms.
stocks. It seemed like a sound advice.
Nanette
N.
Tabuac,Fritz
ACPACI
for Publication
and Website.
Ofelia
P.Director
Oroceo
Corazon S. Rey
Ma. Paz
Malubay
Wilhelmina
G. Cuico
Samuel
F.
Villacampa
Cecile C. Carandang
Ofelia P. Oroceo
Wilhelmina
G.V.
Cuico
Kein T.
Ortiz
Ofelia P. Oroceo
Samuel
F. Villacampa
PICPA Coordination
Committee
Chairperson
& Chapters
Special Projects
Ma. Paz V. Malubay
CommitteeChairperson
Chairperson
CommitteeChairperson
Chairperson
Committee Chairperson
Committee
Committee
Special
Projects
Ways
&
Means
Election
Election
Special Projects
Wilhelmina G. Cuico
Fritz Kein T. Ortiz
Committee Chairperson
Committee
Chairperson
Executive
Director
Secretariat-in-Charge
Executive Director
Secretariat-in-Charge
Election
Special Projects
Executive Director
8
ACPACI Newsletter
July - December 2014
Continued from page 6
the Important before the crowd. The IFRS guru presented the different
amendments, improvements and interpretation in the Philippine/ International
Financial Reporting Standards and how they’d affect the financial statements
like the disclosure requirements, revenue recognition, deferral accounts,
operating segments, etc. The last session, a non-technical one, was
Understanding and Appreciating Art by Art Educator and gallery owner,
Mr. Ben Hur Villanueva. Mr. Villanueva’s talk was a riot and earned a
lot of mirth and chuckle from the audience. He had a good sense of humor
and was a raconteur. People loved the stories he shared like his “diction”
problem which resulted to several trips to the Dean’s Office during
his teaching stint at Ateneo de Manila, about joining and winning an
art contest honoring Andres Bonifacio, and his anecdote about how he
shanghaied his art students—ALL BLIND—to the National Museum to
“understand and appreciate art.” He also showcased some of his prized
sculptures to the participants who not only underwent sensory art
appreciation but also harvested golden nuggets of wisdom from the
sculptor like “to think differently, do things differently and be open to
all possibilities.”
Fellowship Night 2
Winter Wonderment
Just as in the first Fellowship Night, the attendees, in their winter attire,
were wowed by the enchanting transformation of Forbes Ballroom into
tundra of whiteness giving ode to Disney’s box office behemoth, Frozen.
Graceful and resplendent as softly swirly flurries, the snowy tablescapes
welcomed guests to their own winter wonderland. Ivory feathers and
silvery twigs filled the towering mercury glass vases and brought a dash
of panache to the Frozen-themed setting. The shimmering faux snowflakes and glittering crystal garlands were charming additions to the tables
and chairs draped in milky-colored sheets.
The night kicked off with the opening remarks from ACPACI President,
Ms. Ning Santos, afterwards, the battle for supremacy continued among
the four groups. Again, fun and creative parlor games were enjoyed
by the delegates: the “Emo-Let it go” singing contest, “Do you want
to dress a snowman?” and the somewhat R-rated, “Touch my hanging
belt.” In the “Emo-Let it go,” the contestants were asked to sing the
uber popular “Let it go” karaoke style, with a twist – they’d sing it while
crying or laughing or being angry, depending on the kind of “emotion”
they randomly picked out. The contestants were game and brazen, and
in the spirit of camaraderie, they’d do anything (even embarrassing one
like this game) to garner points for their beloved team.
Somewhere in between, there was a “Bring Me” contest handled by Ms.
Sobremonte and a Winter Fashion Show by the ACPACI officers-- past
and present. Posing as seasoned supermodels from Milan, Paris and
London, the officers, donned in winter clothes, strut their stuff in the
catwalk like Cara Delevingne and Adriana Lima. During free periods,
many of the delegates embarked on a cultural and anthropological (read:
shopping) immersion in Baguio City. They visited the City’s top of the list
tourist spots and stopped and indulged in a bit of retail therapy at Baguio
City’s array of stores and bazaars that offer fabulous finds, pasalubong
(presents) and sundry mementoes to bring home in Manila.
(Please also read The Glorious Reasons Why I Heart Baguio City in the sidebar.)
‘Twas a Great Convention
The Orange/Everlasting Love team reigned in the second Fellowship
Night. They rallied and ruled practically in every game-- almost toppling
the Yellow/Sunflower Power team from the top spot. After tabulating
the scores, it was a TIE between the Yellow/ Sunflower Power team and
Orange/ Everlasting Love team followed by Green/Christmas/Pine Tree
team and by Red/Strawberry Jam team. Generous cash prizes and goodies
were awarded to the teams in order of ranking. It was an exhilarating
night filled with fun and good vibrations. The same as the movie Frozen,
the 2014 ANC was a monster success, with a “happy ending” that culminated
the conference.
‘Twas a great convention and arguably one of ACPACI’s best ANC by far
in terms of attendance, the treasure throve of knowledge and valuable
insights gained from the presenters, the fun factor, energy level, audience
participation and innovative parlor games and whopping prizes. And in
case you’ve missed it, you’d probably wish that you were there.
Continued from page 5
SOCIAL INVOLVEMENT COMMITTEE
October 25, 2014 - Visit to Female Inmates of Camp Karingal
For the year 2014, the outreach was a joint project with PAMA
and PICPA in coordination with the Parish of the Lord of the
Divine Mercy. The morning celebration was highlighted with a
Thanksgiving Mass offered by the inmates. The mass was
officiated by Rev. Fr. Steven Zabala, Parish Priest of the Parish of
the Lord of the Divine Mercy. After the mass, Ms. Edna Constantino,
ACPACI Liaison Director was requested to deliver their inspirational
message for the inmates.
Inspired with the homily of Fr. Zabala, the inmates joyfully
shared their talents, through their well-applauded song and
dance numbers. The program was filled with laughter and fun
when it was Fr. Zabala himself showcased his talents. The
Camp’s inmate representatives expressed their heartfelt gratitude
to ACPACI and the other sponsors for the memorable celebration.
SPONSORS:
Last part of the activity was the distribution of toiletries to 600
inmates. Ms. Lolit Tang, the Committee’s Chairperson, headed
the hard work of buying and packing the toiletries. For the
snacks, Gardenia bread was donated by Gardenia Philippines
thru the endorsement of Ms. Pamela Dimayuga and initiative of
Mr. Fritz Ortiz, Acpari Secretariat. The celebration was a soaring
success.