This workbook will be used as a supplement to the required textbook. It includes brief descriptions of the theories that need to be emphasized to the students. The workbook, however, focuses more on exercises, short problems, and long problems that the students need in their day-to-day lessons. It is the objective of this workbook to expose students to the type of questions and problems they will encounter in their departmental examinations. This workbook also intends to guide students in solving problems within reasonable time. The exercises and long problems in this workbook will also serve as homework to be submitted to the instructors. It is expected that the instructors will discuss the solutions to these exercises and problems. Most exercises and problems were taken from previous departmental examinations. Some were adapted from different textbooks, and from CPA examinations. There are some problems that are original and were contributed by the faculty members of the Finance and Accounting Department, Ateneo de Manila, JG School of Management. Some theories have been updated to comply with IFRS (International Financial Reporting Standards), particularly on inventory and intangible assets.
Revised edition published in 2014.