Implementing Rules and Regulations (Irr)

IMPLEMENTING RULES AND REGULATIONS (IRR) IN THE CONDUCT OF THE ACADEMIC EVENTS IN THE 15th REGIONAL MID YEAR CONVENTION

IRR 1.0 GENERAL GUIDELINES IRR 1.1 The Academic Events in the 15TH RMYC shall be comprised of the following:

1. CAT Cup Level 1 2. CAT Cup Level 2 3. CAT Cup Level 3 4. ReSA Cup 5. Practical Accounting 1 and ToA Quiz Bee (Manabat San Agustin Cup) 6. Auditing Theory and Auditing Problems Quiz Bee (Punongbayan & Araullo Cup) 7. Isla Lipana & Co. Cup 8. SGV Basic Accounting Wizards 9. SGV Cup 10. PFRS Quiz and CPAR Meet the Standards

IRR 1.2 The Academic Events in the 15th RMYC is divided into two (2) categories: _Quiz Bee Type (first nine academic events) _Written Exam with Quiz Bee Type (PFRS Quiz and CPAR Meet the Standards)

IRR 1.3 The Academic Events for the 15th RMYC is open for application to all students who are bona fide members of the NFJPIA-R3 FY 2011 – 2012.

IRR 1.4 Each local chapter is only allowed to have three (3) contestants in each of the event that will be competing individually. However, there will be provisions in some of the academic events: _for CPAR Meet the Standard Elimination, each local chapter is allowed to have the maximum number of participants to join in the elimination round, provided all of their participants are registered delegates of the local chapter in the said convention.

IRR 1.5 The past contestants in each academic event cannot anymore participate in the same contest where they are declared as champion.

IRR 1.6 Each participant can only participate in at most four (4) academic events. (Including the CPAR Meet the Standards) Meaning, 3 Academic Quiz Bees plus CPAR Meet the Standards.

IRR 1.7 The CAT Cup Level 1 is open to all who have already taken the covered topics. This event will cover the following accounting subjects namely: _ Basic Accounting _ Financial Accounting IRR 1.8 The CAT Cup Level 2 is open to all who have already taken the covered topics. This event will cover the following accounting subjects namely: _ Cost Accounting _ Management Advisory Services

IRR 1.9 The CAT Cup Level 3 is open to all who have already taken the covered topics. This event will cover the following accounting subjects namely: _ Payroll Accounting _ Taxation

IRR 1.10 The ReSA Cup is open to all fourth and fifth year students. This event will cover the following CPA Board subjects namely: _ Practical Accounting 2

IRR 1.11 Practical Accounting 1 and ToA Quiz Bee is open to all third year students. This event will cover the following CPA Board subjects namely: _ Practical Accounting 1 _ Theory of Accounts

IRR 1.12 The Auditing Theory and Auditing Problems Quiz Bee is open to all fourth and fifth year students. This event will cover the following CPA Board subjects namely: _Auditing Theory _Auditing Problems

IRR 1.13 The Isla Lipana & Co. Cup is open to all fourth and fifth year students. This event will cover the following CPA Board subjects namely: _ Management Advisory Services _Business Law and Taxation

IRR 1.13 The SGV Basic Accounting Wizard is open only to first and second year students. This event will cover the following accounting subjects namely: _ Basic Accounting

IRR 1.14 The SGV Cup is open to all fourth and fifth year students. This event will cover the following CPA Board subjects namely: _Theory of Accounts _Practical Accounting 1 _Practical Accounting 2 _Management Advisory Services _Business Law and Taxation _Auditing Theory _Auditing Problems

IRR 1.15 The PFRS Quiz and CPAR Meet the Standard will cover all the subjects namely: _ Philippine Financial Reporting Standard _ Philippine Accounting Standard IRR 2.0 QUALIFICATIONS AND REQUIREMENTS IRR 2.1Participants must be a bona fide member of NFJPIA-R3.

IRR 2.2 Each contestant must comply with the following requirements: A. Duly accomplished application form from the NFJPIA-R3. (softcopy of one academic form per event with 2x2 picture) B. Endorsement Letter from the JPIA Local Chapter President and Adviser. (hardcopy) C. Copy of Registration Form for the current semester, certifying that the participant is officially enrolled and a bona fide student of his/her respective school. (hardcopy) E. Certificate of Accountancy Student from the college dean or registrar. (hardcopy) E. The Master List of all academic events participant. (hard and soft copy) F. Master List of the participants in each of the academic event. (hard and soft copy)

IRR 2.3 The Master List of all academic events participants and Master List of the participants in each of the academic event are required to be sent via email at [email protected] on or before August 19,2011.

IRR 2.4 All the requirements must be in a long brown envelope with Local Chapter’s Name and the word “ACADEMICS” printed outside.

IRR 2.5 All requirements (hard and soft copy) must be submitted on August 21, 2011 or in the 3rd Executive Board Meeting.

IRR 2.6 For incomplete and late requirements, the local chapter shall be given five (5) working days as a grace period after the 3rd Executive Board Meeting to pass all the necessary requirements. Failure to comply may mean disqualification.

IRR 3.0 GENERAL CONTEST RULES

IRR 3.1The Standing Committee for Academics shall be composed of Regional Vice President for Academics and Academic Committee Members while NFJPIA-R3 Council shall be composed of the regional executive officers of the NFJPIA-R3 which shall serve as the monitoring personnel and question distributors (QD).

IRR 3.2 A Judge or Board of Judges shall be a Certified Public Accountant for the purpose of giving an intelligent and independent decision.

IRR 3.3 Any member of the Board of Judges and NFJPIA-R3 Council shall be vested with the power to give sanction to any contestant he have witnessed violating any of the said provision in this IRR. IRR 3.4 The Judge or the Board of Judges shall have the sole and exclusive authority to clear or answer any protest/clarification made by the contestant or the respective adviser. Judge/s’ decision is final and irrevocable.

IRR.3.5 Any contestant caught cheating is considered disqualified in the competition.

IRR 3.6 After reading the contest rules and mechanics, contestants are given the chance to raise questions/clarifications regarding the said rules and mechanics.

IRR 3.7 Before proceeding to the next question, there will be given an allotted time of five (5) seconds for the contestants to decide whether they want to raise a protest/clarification, to request for new marker, ballpen or scratch paper, to change their calculator if it encounters a technical problem, or other concerns. After the allotted time has elapsed the quizmaster starts reading the next question, no more protest, clarification, or concern will be entertained.

IRR 3.8 In case of any concern, clarification, or protest which is not governed by the Implementing Rules and Regulations (IRR) of the said provision, the Chairman of the said competition shall have the absolute power to decide, upon consultation to NFJPIA-R3 Council and/or Regional Adviser, on matters which he deems necessary to preserve and protect the integrity of the event. His decision is final and irrevocable.

IRR 4.0 ELIMINATION ROUND- GENERAL CONTEST RULES AND MECHANICS (Quiz bee Academic Events)

IRR 4.1 The Academic Quiz bee Events in the 15th RMYC are comprised of two (2) rounds namely:

Elimination Round and Final Round, The Elimination round is composed of three (3) sub-set levels namely: Easy, Average, and Difficult. Corresponding no. of questions, points and time allotment for are as follows: CATEGORIES: EASY AVERAGE DIFFICULT CLINCHER Theory Problem 10 seconds 10 seconds 10 seconds 10 seconds

Problem requiring 15 seconds 30 seconds 45 seconds 20 seconds Computation No. of Items 7 7 7 - Corresponding 2 3 5 0 Points

IRR 4.2 Contestants are advised to be at the designated place at least thirty (30) minutes before the time schedule. IRR 4.3 Participants must strictly wear business attire (No Maong Pants, No Rubber Shoes). A contestant who does not comply with the required attire will not be allowed to join the contest.

IRR 4.4 Late contestants are still allowed to participate, however; he or she will be disqualified for the questions he or she has missed.

IRR 4.5 The quizmaster will read each question once. The VP Academics may extend time prescribed depending on the complexity of the question.

IRR 4.6 Contestants are provided with a copy of the question for every item. The contestants must not flip the copy of the question up to the distribution of each set of questions is done. The moment the quizmaster announces the question number, that would be the only time the contestant may read and answer the provided question. Any contestant who violates the said provision for the 2nd time shall be given sanction of accumulating only 50% of his total score garnered in all rounds. Violation of this provision for the 3rd time shall mean disqualification of the contestant.

IRR 4.7 Participants will be provided with a copy of the question. They may read the question along with the quiz master. However, there will be provisions in some of the academic events: _ for PFRS Quiz, the participants will be provided with a copy of the questions. They must shade the letter which corresponds to their answers. Used of pencil and ball pen are allowed provided, that if the contestant uses ball pen, he or she is not allowed to commit erasures.

IRR 4.8 Contestants are only allowed to manipulate their calculators after the quiz master says “GO”. Warning shall be given for the first offense. Second offense means disqualification from the particular question while, third offense entails disqualification from the particular event.

IRR 4.9 Before the time allotted for each question has lapsed; the participant should have written their answers on their respective answer sheet (board) provided for the contest. When the bell rings signaling the lapse of time allotted, contestants should stop answering and must submit their answer sheet (raise the board) right after the quiz master had asked for it. Otherwise, their answer shall be forfeited.

IRR 4.10 Protests or questions regarding a particular problem must be addressed to the Panel of Judges before the quiz master starts reading the next question. Once the next question has been distributed, the decision of the panel of judges shall be final and appeal will not be entertained. Also as stated in the IRR 3.7

IRR 4.11 Only the contestants are allowed to raise their complaints.

IRR 4.12 The top (5) contestants accumulating the highest points shall advance to the final round, we called the buzzer round. In case of tie, clincher questions will be given. Whoever gets the right answer first will be the winner.However, there will be provisions in some of the academic events: _ for PFRS Quiz, the top thirty (30) contestants will move in the contest proper of the CPAR Meet the Standard.

_ for CPAR Meet the Standard-Contest Proper, the top (5) contestants accumulating the highest points shall advance to the final round, we called the buzzer round. In case of tie, clincher questions will be given. Whoever gets the right answer first will be the winner.

IRR 5.0 FINAL ROUND - CONTEST RULES AND MECHANICS (Quiz bee Academic Events)

IRR 5.1 The top (5) contestants of the elimination round shall advance in the final round. All points of the contestants in the elimination round shall revert to zero. This round will test the ability and speed of the contestant to answer using a buzzer.

IRR 5.2 The contestants are allowed to manipulate their calculator at any moment they opted to, provided, only when the quizmaster announces the question number.

IRR 5.3 The contestant may answer the question at any moment even if the quizmaster is still on the course of reading the question. Provided that before he presses the buzzer, his answer must be reduced to writing and the right term or digits are there. Otherwise, his answer is deemed null and void.

IRR 5.4 The contestant who will press the buzzer first will get the chance to answer. This round provides 1 chance of steal whenever the first buzzerer has a wrong answer. But if the one who steal got a wrong answer we will move on to the next question.

IRR 5.5 Corresponding points, corresponding point deduction, time allotment are as follows: EASY AVERAGE DIFFICULT CLINCHER Theory Problem 10 seconds 10 seconds 10 seconds 10 seconds Problem requiring 15 seconds 30 seconds 45 seconds 20 seconds Computation No. of Items 7 8 10 - Corresponding Points 10 15 20 0 Corresponding 2 3 5 - Deduction

IRR 5.6 The apt title of the game is “BINGO Bonanza”. The question, its corresponding points, and the allotted time is assigned to each BINGO number. This will be shown once the contestant picks his choice. IRR 5.7 For the first question, it is the quiz master who will choose a number between 1-25 with a corresponding question and in case of two wrong attempt answers in same question. The contestant who can answer the question correctly will be the next one who has the right to choose the succeeding item, and so on.

IRR 5.8 For a contestant who gave an incorrect answer and/or void answer, there will be a corresponding point deduction on that particular question depending upon the difficulty as stated in IRR 5.5

IRR 5.9 Also, there will be given a deduction to a contestant who provided a wrong answer even he has no points garnered at the time he answers the question. Simply stated, negative points shall be awarded.

IRR 5.10 The contestants are allowed to manipulate their calculator at any moment they opted to, provided, only when the quizmaster reads the first word in the problem.

IRR 5.11 The contestant may answer the question at any moment even if the quizmaster is still on the course of reading the question. Provided that before he presses the buzzer, his answer must be reduced to writing. Otherwise, his answer is deemed null and void.

IRR 5.12 In this round, there will be three ACES (_) which are hidden and each are randomly assigned to the different BINGO numbers shown above. This Ace will serve as a bonus 3 points. This bonus point is exclusive only for the contestant who picks the item and answered it correctly. This point will be added automatically to the contestant’s score.

IRR 5.13 As an added twist, there will be three JOKERS ( ) which are hidden and each are randomly assigned to the different BINGO numbers shown above. A Joker will serve as a mileage weapon during the course of the competition. Whoever answers the question with mileage weapon correctly will receive it. This can be used by the contestant to his opponents who have earned points. Whoever he chooses to be the recipient of the joker, that contestant will get a deduction of 3 points. The contestant may only use the said weapon in the event a correct answer is given by him to any question. In the event that the contestant didn’t use the JOKER, the mileage weapon is considered forfeited.

IRR 5.14 There are only 25 numbered questions that will be used in this round, and these will not be arranged according to level of difficulty; it is a random of easy, average and difficult questions. Questions may be a multiple choice or identification type.

IRR 5.15 The contestant must aim to create a 5-straight item pattern either horizontally, vertically, or diagonally in order to win the game. The very first contestant who could create such pattern in any form of the aforementioned above will be declared the Champion. The remaining contestants should also aim to create such in order to be declared 2nd and 3rd placer respectively.

IRR 5.16 The final round is considered end only when there will be three (3) contestants made the aforementioned patterns or when the twenty-five (25) items for this round has been entirely exhausted.

IRR 5.17 In the event that only one (1) contestant can create such pattern at the end of the game, the 2nd and 3rd placer will be determined based on the accumulation of points. The two (2) highest scorers shall be declared the 2nd and 3rd placer respectively.

IRR 5.18 In the event that only two (2) contestants can create such pattern at the end of the game, the 3rd placer will be determined based on the accumulation of points. The highest scorer shall be declared the 3rd placer.

IRR 5.19 In case no contestant can make a 5-straight item pattern at the end of the game, the three (3) highest scorers will be declared the winners of the competition respectively.

IRR 5.20 WINNING PATTERNS are HORIZONTAL, VERTICALand DIAGONAL.

IRR6.0 Pointing system of Academic events in determining the ranking in Academics category:

IRR. 6.1To the events SGV Basic Accounting Wizard, Practical Accounting 1 and ToA Quiz Bee, ReSA Cup, CAT CUP Level I, II, III, and Meet the Standards, Auditing theory and Auditing prob.Quiz Bee, Isla Lipana and Co. Cup and SGV Cup: Place Points 1st placer 15 2nd placer 10 3rd placer 7

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_ The remaining two participants in the buzzer round will have a credit of 3 points each. _ Participation in these events will have a credit of 1 point each per school representative, except to those who qualified in the buzzer round.

IRR 6.2 Participation in the elimination round of Meet the Standards shall receive no credit. NEIL JOHN P. MANALANG Regional Vice President for Academics National Federation of Junior Philippine Institute of Accountants-R3 Federation Year 2011 – 2012 [email protected] 0935-906-5914