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Saturday, February 7, 2015

Reviewer in Income Taxes, Leases and Employee Benefits by PRTC (

This material came from the Professional Training and Review Center (PRTC), Inc. that was used during the May 2012 review sessions. Although, it is already 2015-- you can still use these materials since the basic concepts and principles in financial accounting that had been taught few years ago are still applicable today and even for the years to come.

This material was authored by Mr. Rommel M. Valdez, CPA; one of the respected reviewers here in the Philippines. Mr. Valdez is a seasoned educator, a CPA Professional focusing in the Education Sector of the Philippine Accounting Practice. He was one of the authors in various reviewers and textbooks in auditing theory and theory of accounts. He was also a former CPA Reviewer of the CPA Review (CPAR) School of the Philippines, one of the most prestigious CPA review institutions here in the Philippines.

These topics (Income Taxes, Leases and Employee Benefits) are just few of the difficult topics that are quite challenging both for the accountancy students and CPA Reviewees to grasp and master. Anyway, the key here is PRACTICE, PRACTICE, PRACTICE. If you really want to beat the difficult CPA Review Examinations, you need to master every concept through the use of various study techniques and skills. There are lot of available materials throughout the world wide web and you can use them for your own advantage.

Until next time!

See you soon and I hope this material helped you to achieve your goals of passing the highly-respected CPA Board Examinations.

Here is the link:

Income Taxes, Leases and Employee Benefits

Here is the answer key:

Classroom Drill
1. C
2. D
3. D
4. A
5. C
6. B
7. D
8. B
9. A
10. C

Take Home Drill
1. C
2. B
3. A
4. C
5. C
6. D

*Author's Note: These materials are intended solely for review and academic use specifically published to help aspiring CPA Reviewees and accountancy students prepare for the Philippine Certified Public Accountant (CPA) Board Examinations. Copying and distributing such materials are considered violations of the copyright law and may result to legal proceedings.


  1. Indeed this is a great review dear. I am also thinking of starting my own business but before that I want some professional advice. My friend suggested me to take help of Dr. Aloke Ghosh and after reading a lot about him, I think this man is worthy of trust.

  2. May other lecture notes po kayo from PRTC?


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