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I.

Title of Activity

This activity shall be known as the 3rd Dr. Filemon Cup: Beat the Clock.

II. Purpose/Description

Dr. Filemon Cup is an inter-school accounting quiz bee having different levels to be participated by top accountancy students all over the region. It aims to challenge the participants knowledge about the subjects included in the CPA Board Examination and also aims to promote Dr. Filemon C. Aguilar Memorial College of Las Pias (DFCAMCLP) to other school in Metro Manila. The cup involves three levels as follows: Level 1 - Theory of One The level that challenges the theoretical knowledge of the participants regarding board subjects Theory of Accounts, Auditing Theory, and Business Law and Taxation. Level 2 - Calculation of Two The level that challenges the analytical and computational skills of each participant and this covers Practical Accounting 1, Practical Accounting 2, Auditing Problems and Management Advisory Services. Level 3 - Fighting Trio The level that challenges the overall intellect of the participants and covers all the seven board subjects included in the CPA examination.

III. Technical Aspect

A. Selection Process and Qualification of the Contestants

1. The Dr. Filemon Cup is composed of three levels with individual and team quiz bee events. Hence, every recognized member local chapter must send 3 contestants for the entire cup. 2. Each local chapter has the discretion to set its own criteria in choosing a contestant for each of the quiz event. 3. A contestant should preferably be a fourth year student in a four (4) year course or a fifth year student in a five (5) year course. Local chapters have the option to send contestants in a lower level. 4. Change of representatives for a local chapter shall be allowed during the day of the competition provided that they would comply and submit all pertinent hard copy requirements during the registration period of the event. Failure to do so will disqualify the said contestant from joining the event. 5. The chosen participants have the discretion to select their representative/s to compete for levels 1 and 2.

B. Requirements

1. To confirm the local chapters participation for the event, the


contestants should submit the following: a. Accomplished Application Form with 1X1 formal ID picture. (Softcopy/Hardcopy); b. Contestants Certificate of Registration/Enrolment. (Softcopy) c. School ID (must be presented upon registration on the day of the event). 2. Documents requiring softcopies should jpia_dfcamclp1213.vpacademics@yahoo.com December 7, 2012. be on e-mailed at or before

C. Punctuality of the Contestant

1. Participants are recommended to be at the venue 30 minutes before the scheduled time of the event.

2. All late contestants are still allowed to participate. However, since the level 1 is a written-type of quiz, sets of questions previously lapsed will no longer be allowed to answer by the said contestant. Hence, all latecomers will automatically receive a zero (0) point for that set/s of questions. They will be allowed only to answer the remaining sets of questions in the first level. 3. Late contestants who will arrive after the first level, will not be allowed to participate and is/are disqualified from the event.

D. Mechanics/Implementation

1. Level 1 Theory of One a. Each team must send one participant for this level. b. There are 10 sets of questions with five items each. c. Participants will answer all the sets of questions but they will start in different sets. Contestant 1 will answer first the 1st set; contestant 2 will answer first the 2nd set; contestant 3 will answer first the 3rd set and so on and so forth. When the time expires, the contestants will move on to the next set. Now, the contestant 1 will answer the second set; contestant 2 will answer the 3rd set; contestant 3 will answer the 4th set and so on and so forth. This process will continue until all the participants finished answering all the sets of questions. d. Contestants are only allowed to answer the questions when the quiz master says so. When the cup master says time is up! participants should raise their pens up and stop writing on the answer sheet. e. Time allotment: Contestants will be given 3 minutes to answer each set of questions; a total of 30 minutes for all the 10 sets. f. Points will be computed as follows: Questions no. 1 and 2 easy questions equivalent to 1 point each

Questions no. 3 and 4 average questions equivalent 2 points each Question no. 5 difficult question equivalent to 3 points The points are applicable to all sets of questions. g. There will be a committee who will check the answer sheets. Key to corrections and the explanations on the questions will be given to the participants. Objections must be raised before the start of the next level. When the next level starts, objections with regard to the questions will not be entertained.

2. Level 2-Calculation of Two

a. Each team must send two participants for this level but they will play individually. b. There will be 3 rounds: Easy, Average and Difficult, composing of 10 questions each. In case of a tie, there will be a clincher round. c. The cup master will read each question once. The participants will be given a copy of each question. They may read the question and write the answer computed manually on the answer sheet while the cup master is reading the question. d. Participants are allowed only to manipulate their calculators when the cup master says so. Any violation to this provision will be given a warning for the 1st offense, prohibition to answer the next question for the 2nd offense, and disqualification for the 3rd and last offense. e. Time allotment and computation of points will be as follows: Easy Time Allotment (in seconds) Points per Correct Answer 20 1 Avera ge 40 3 Diffic ult 60 5 Clinc her 40 1

f. When the cup master says time is up! participants should stop writing and pass their answer sheet. g. Objections must be raised before the start of the next question. When the cup master starts reading the next question, objections with regard to the preceding question will not be entertained. h. The top 10 participants based on their cumulative points from the first and second level shall advance to the third and last level. i. In case of tie, sudden death shall be applied to beat the deadlock.

3. Level 3-Fighting Trio

a. All three participants of each school will be playing on this round as a team. b. Points disregarded. from the preceding rounds will be

c. There will be 3 rounds: Easy, Average and Difficult, composing of 10 questions each. In case of a tie, there will be a clincher round. d. The cup master will read each question once. The participants will be given a copy of each question. They may read the question while the cup master is reading it. e. All participants are allowed only to manipulate their calculators for computational type of questions when the cup master says so. Any violation to this provision will be given a warning for the 1st offense, prohibition to answer the next question for the 2nd offense and disqualification for the 3rd and last offense.

f. Time allotment and computation of the points will be as follows: Easy Time Allotment (in seconds) Theoretical Questions Computational Questions Points per Correct Answer Avera ge Diffic ult Clinc her

15 20 1

30 40 3

45 60 5

30 40 1

g. When the cup master says time is up! participants should stop writing and raise their answer boards. h. Objections must be raised before the start of the next question. When the cup master starts reading the next question, objections with regard to the preceding question will not be entertained. i. The champion, first runner-up, and second runnerup will be declared based on their cumulative points from the third level. j. In case of tie, sudden death shall be applied to beat the deadlock.

IV. Other Matters

1. Planned Venue: Dr. Filemon C. Aguilar Memorial College of Las Pias (DFCAMCLP) campus 2. Date/Time: December 12, 2012/12:00nn-5:00pm 3. Judges: a. Mr. Virgilio Seballe, CPA, CISA

b. Mrs. Myrna T. Gutierrez, CPA,MBA c. Mr. Dennis Magallanes, CPA

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