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Paat 9

a. Separation of capital expenditure from revenue expenditure

b. The valuation of fixed assets

c. Calculation of periodic profit and

d. The appropriate form and content of financial statements

As a Filipino, we should know who was/were the first accountant since accounting is one

of the well-known courses in our country so we must be proud of who they are.(1) Don Vicente

F. Fabella was born on 7th day of May, 1881 in Pagsanjan, Laguna. He was known as an

educator, economist, civic leader and the first Filipino certified public accountant. In 1912, he

got his bachelor’s degree in Philosophy at UP and he migrated to US to earn his bachelor’s

degree in Philosophy and in Commerce in the University of Chicago and in Northwestern

University respectively. As of 1915, he became a CPA and as a year past, he opened his own

accounting firm “Vicente Fabella and Company” and it became the basis of ACT 3105 the CPA

Law of the Philippines (“First Filipino Accountant: Vicente F. Fabella”; “3 Admirable Filipino

CPAs Any Aspiring Accountant Should Know About”). His statue can be found in the JRU (Jose

Rizal University) Quadrangle as a sign of respect and also in honoring of his greatful memory

since he’s the founder of Jose Rizal College (“The rizalian monuments”).

The salary of a CPA every month is different according to your position in a company,

additional payment or bonus you’ll get, and how long you’ve been working in the company. The

salary range from P14,313-P50,210 and if the company will give them a bonus, their salary every

month would possibly ranges from P14,356 to P54,238 (“Accountant Salary”). Based on