QuizMaster Posts by QuizMaster

Hello Accountants!

Welcome to CPA Camp. Your complete guide to Business, Finance, and Accounting.

Journal Entries Quiz

This quiz would test your knowledge about journal entries.

You must specify a text.
You must specify a text.

Accounting Cycle Quiz

This quiz would test your knowledge about journal entries.

You must specify a text.
You must specify a text.

Accounting Principles Quiz

Do you know the basic accounting principles and assumptions? This quiz can assess your knowledge.

You must specify a text.
You must specify a text.

Basic Financial Statements Multiple Chioce Quiz

This is a 10 item quiz about Financial Statements.

You must specify a text.
You must specify a text.

Will You Become a CPA?

Will You Become a CPA?

Take this quiz to find out whether you will become a Certified Public Accountant or not.

Users of Accounting Information and What They Need

Get to know the different Users of Accounting Information

This may seem unreal, but everywhere we go, people are using accounting information. From the simplest business transactions to the most complex corporate dealings, accounting info is used. At work, school, the shopping mall, even at our own homes, accounting information could be important.

So, who uses accounting information? Accounting information users could be divided into 7 major classifications which could be easily be remembered using the acronym PLEGICS. This stands for Public, Lenders, Employees, Government, Investors, Customers/Clients/Consumers, and Suppliers (trade creditors). Let us then discuss each user and find out why they need accounting information.


Everybody needs accounting information in one way or another. There will be times when we want to know the status of our economy, we would like to know what's happening with our favorite mobile network, we want to know the status of retirement plants, sometimes, we make budgets and thus use accounting information, we also monitor receipts and disbursements and many more.


Lenders are those who loan their money to people in need of funds. Because of the nature of their operations, lenders are interested in accounting information that enable them to determine the ability of a client to pay their obligations and the interest that comes with the loan when it becomes due.


Accounting information is essential if you are an employee assigned in the accounting, finance or sales department. However, accounting information far go beyond those departments. Employees need accounting information no matter where they are assigned. That's because they still deal with financial transactions in one way or another. For instance, salaries received is a financial transaction. An employee needs to make sure that the salary he or she receives is of the right amount. The same goes with bonuses and other benefits.


The government is one huge and complex organization. It is in charge of running a country and making it a suitable place to live in for its citizens. The government has thousands of transactions every single day. In order to manage its transactions, it needs accounting information during its day-to-day operations. Accounting information is needed during tax assessments, determination of license fees, preparation of annual budget, computation of salaries, economic assessment, and many many more.


Investors use their money in order to start or join businesses in order to gain profit. These investors and businessmen use accounting information to make relevant decisions. Investors could determine whether to purchase stocks, sell stocks enter into a business venture, and can make other decisions based on accounting information. The success or failure of an investor and businessman is dependent on the quality of accounting information provided to them.


The continuity of a business is important to customers. Therefore, customers need accounting information in order to determine the longetivity of a business. This is important most especially when the customer is dependent on the business specifically if there is long-term engagement between the parties. Through accounting information, clients and customers of a business enterprise could also check if prices that are being charged are reasonable.


Suppliers or otherwise known as trade creditors are providers of merchandise inventory (goods). Suppliers either sell their merchandise on cash or on installment basis. Before extending credit to customers, suppliers first use accounting information by looking into the accounting records of an entity to determine if they would sell their products on account or not. Suppliers are similar to lenders wherein they are concerned whether their client would be able to pay their liabilities.


Accounting Definitions Multiple Choice Quiz

This quiz is composed of 10 questions and it tests your knowledge about the definition of Accounting.

You must specify a text.
You must specify a text.

Forms of Business and Users of Accounting Information Quiz

This is a 10 Point multiple choice quiz about the users of financial information and the different forms of business organizations.

You must specify a text.
You must specify a text.

BIR Forms Download Complete


You will find in this page the useful BIR forms that you need to download which could be useful for your individual or business needs. Just click on the form that you need and the download link will be presented to you immediately.

Complying with the BIR should be of utmost priority because this taxing authority has the capacity to destroy a business if it does not comply with its rules and regulations. Make sure that you download the BIR forms that are applicable for you and your business.

0605 Payment Form
1600WP Remittance Return of Percentage Tax on Winnings and Prizes Withheld by Race Track Operators
1601C Monthly Remittance Return of Income Taxes Withheld on Compensation
1601E Monthly Remittance Return of Creditable Income Taxes Withheld (Expanded)
1601F Monthly Remittance Return of Final Income Taxes Withheld
1602 Monthly Remittance Return of Final Income Taxes Withheld (On Interest Paid on Deposits and Yield on Deposit Substitutes/Trusts/Etc.)
1604CF Annual Information Return of Income Tax Withheld on Compensation and Final Withholding Taxes
1604E Annual Information Return of Creditable Income Taxes Withheld (Expanded)/ Income Payments Exempt from Withholding Taxes
1606 Withholding Tax Remittance Return (For Transactions Involving Real Property other than Capital Asset including Taxable and Exempt)
1701-AIF Account Information Form (AIF) for Self-employed Individuals, Estates and Trusts (engaged in trade and business)
1702-AIF Account Information Form (AIF) For Corporations and Partnerships in General
1900 Application to Use Loose-Leaf / Computerized Books of Accounts and/or Accounting Records
1901 Application for Registration for Self-Employed and Mixed Income Individuals, Estates/Trusts
1902 Application for Registration For Individuals Earning Purely Compensation Income, and Non-Resident Citizens / Resident Alien Employee
1903 Application for Registration for Corporations/ Partnerships (Taxable/Non-Taxable)
1904 Application for Registration for One-Time Taxpayer and Persons Registering under E.O. 98 (Securing a TIN to be able to transact with any Government Office)
1905 Application for Registration Information Update for Updating / Cancellation of Registration / Cancellation of TIN / New Copy of TIN card / New copy of Certificate of Registration
1906 Application for Authority to Print Receipts and Invoices
1907 Application for Permit to Use Cash Register machines/Point-of-Sale Machine
2000 Documentary Stamps Tax Declaration/ Return
2000-OT Documentary Stamp Tax Declaration/Return (One Time Transactions)
2110 Application for Abatement or Cancellation of Tax, Penalties and/or Interest Under Rev. Reg. No. ______
2200 A Excise Tax Return for Alcohol Products
2200 AN Excise Tax Return for Automobiles and Non-Essential
2200 M Excise Tax Return for Mineral Products
2200 P Excise Tax Return for Petroleum Products
2200 T Excise Tax Return for Tobacco Products
2304 Certificate of Income Payment Not Subject to Withholding Tax (Excluding Compensation Income)
2305 Certificate of Update of Exemption and of Employer's and Employee's Information
2306 Certificate of Final Income Tax Withheld
2307 Certificate of Creditable Tax Withheld at Source
2316 Certificate of Compensation Payment / Tax Withheld For Compensation Payment With or Without TAx Withheld