IMPLEMENTING RULES AND

REGULATIONS IN THE CONDUCT OF

THE
1ST ANNUAL GRAND SUMMIT CUP

REVISION HISTORY:

Version No. Date Prepared by Approved By Noted By Details

1.01 03/23/16 Susan G. Salomon Jerwin Dave V. Patacsil Rolando R. Hogar Initial Issue
TABLE OF CONTENTS

INTRODUCTION ................................................................................................................................................... 3
OBJECTIVES......................................................................................................................................................... 3
FUNDAMENTALS OF 1ST AGS CUP................................................................................................................. 4
The 1st AGS Cup COMPOSITION AND COVERAGE ..................................................................................... 4
QUALIFICATIONS ................................................................................................................................................ 4
REQUIREMENTS ................................................................................................................................................. 5
GENERAL CONTEST RULES AND MECHANICS ......................................................................................... 5
ELIMINATION ROUND ........................................................................................................................................ 7
FINAL ROUND ...................................................................................................................................................... 9
SPECIAL POWERS ............................................................................................................................................ 11
THE CLASH ......................................................................................................................................................... 12
ENFORCEMENT OF THE IMPLEMENTING RULES AND REGULATIONS ............................................ 14
AMENDMENTS OR REVISIONS ..................................................................................................................... 14
SEPARABILITY CLAUSE .................................................................................................................................. 15
REPEALING CLAUSE........................................................................................................................................ 15
EFFECTIVITY ...................................................................................................................................................... 15
INTRODUCTION

The NCR Annual Grand Summit (AGS) is the culminating event of the Organization that
aims to fortify the bond established among the JPIAns since the beginning of the NCR
Council. AGS will highlight not only the competence of JPIAns in the different academic
competitions; it will also showcase their ingenuity and diversity in numerous social
events.

On its 9th year, the 1st Annual Grand Summit Cup shall be launched to fortify the
academic activities during the Summit. It shall adopt and complement the changing
academic coverage of CPA Board Exam, hence motivating students to continuously
acquire higher level of knowledge in the field of accounting.

In recognition of the academic competence of the JPIAns, 1st AGS Cup shall be
individual competition exclusively open to delegates of 9th AGS from all year level
enrolled in any programs related to Accountancy.

OBJECTIVES
1. To promote academic excellence to all members by expanding their knowledge and
understanding of the accountancy profession through academic competitions.

2. To introduce the contestants, JPIA members, and future CPA Candidates to the
broadening coverage of the board exam.

3. To help the contestants discover their strengths and be aware of their weaknesses
in different board-related subjects through academic competition with the ultimate
aim of maximizing the former and overcoming the latter.

4. To enable the contestants to assess their current academic standing as compared

with the other JPIAns in the region.
FUNDAMENTALS OF 1ST AGS CUP
Name Coverage Number of Rounds
AGS Cup 1  Financial Accounting and Reporting  Two rounds –
 Auditing Problems Eliminations and Finals
 Advanced Accounting and Special
Topics
AGS Cup 2  Business Law  Two rounds –
 Taxation Eliminations and Finals
 Management Advisory Services
The Clash  Financial Accounting and Reporting  One round only
 Advanced Accounting and Special
Topics
 Auditing Problems
 Business Law
 Taxation
 Management Advisory Services

The Clash is a special round of AGS Cup wherein the top 10 winners of AGS Cup 1 and
2 are eligible to join.

QUALIFICATIONS
1. The 1st AGS Cup is open to all bona fide members of the NFJPIA-NCR FY 2015-
2016 and official delegates of 9th Annual Grand Summit

2. However, The Clash shall be open only to the Top 10 winners of AGS Cup 1 and 2

3. Each local chapter may send a maximum of five contestants for each Cup. However,
a contestant shall only be allowed to join a maximum of one AGS Cup.

4. Local chapters may send contestants from any year level as long as they are
knowledgeable on the subject for the respective quiz. Though we highly encourage
local chapters to field their graduating members and those who are in their
 penultimate year (3rdyear student in a 4-year course or 4th year student in a 5-year
course) if it is possible.

5. Change of contestant or substitution shall be allowed on the day of the competition

itself, provided that the local chapter shall submit all requirements for the new
representative during the registration of the event and the substitutes is an official
delegate of 9th Annual Grand Summit. Failure to do so shall mean automatic
disqualification.

REQUIREMENTS

1. Each local chapter shall complete the official Master list, provided by the organizers,
and softcopy of the endorsement letter on or before March 31, 2016. The flexibility of
the deadline shall be upon the discretion of the Council

(Please download the template of the master list online at

http://tinyurl.com/9thAGSPacket)

2. The accomplished Master list shall be sent via email to 9thncrags@gmail.com

GENERAL CONTEST RULES AND MECHANICS

1. Contestants are advised to be at the designated place at least 30 minutes before the
scheduled time.

2. Contestants must be properly registered and signed the attendance sheet before
proceeding to the competition proper.

3. Late contestants shall be ALLOWED to join the competition. However, he/she shall
no longer be allowed to answer the questions he/she have missed. Hence, all
latecomers shall automatically receive a zero point for question/s already read and
 answered. Latecomers are entitled to answer only the remaining questions in the
said round.

4. The contestants shall not be allowed to bring anything on top of their desks except
for their writing materials and non-programmable calculators. Mobile phones, iPad,
laptop and other electronic devices shall not be allowed to be used during the
contest proper.

5. A judge or board of judges shall be a Certified Public Accountant for the purpose of
giving an intelligent and independent decision. For Business Law, Lawyers shall be
allowed to be a judge or part of the board of judges

6. The judge or the board of judges shall have the sole and exclusive authority to clear
or answer any protest/clarification raised by the contestants. The decision of the
judge or board of judges is final and irrevocable.

7. Any contestant who shall be caught cheating shall automatically be disqualified in

the competition.

8. The contestants should write their answers clearly and legibly on the answer boards
provided to them. The contestants are allowed to use the following abbreviations:

 T or F for True or False, respectively

 U or F for Unfavorable or Favorable, respectively
 Dr or Cr for Debit or Credit, respectively
 A/B/C/D for multiple choice questions
 PERT CPM for Program Evaluation Review Technique/Critical Path Method
 BOA for Board of Accountancy
 CPA for Certified Public Accountant
 PICPA for Philippine Institute of Certified Public Accountants
 AR for Accounts Receivable
 AP for Accounts Payable
 PPE for Property Plant and Equipment
 TS for Trading Securities
 SHE for Shareholders’ Equity
 RE for Retained Earnings
9. Other abbreviations not specifically written in this IRR are highly discouraged to be
used. For questions requiring computations, only final answers shall be rounded off
to the nearest hundredths unless the question specifically states otherwise(eg: 0.845
= 0.84)

10. Contestants who shall insist in writing the answers ambiguously, abbreviated or
illegibly may still claim points for correct answers only upon the discretion of the
panel of judges or the Regional Vice President for Academics or Event Project
Head.

11. After the final answer has been announced by the quizmaster to the contestants, the
quizmaster may entertain protests and questions.

12. Only the contestants shall be allowed to raise queries, clarifications, questions
and/or protests.

13. All queries, clarifications, questions and/or protests shall be addressed to the panel
of judges. The decision of the panel of judges shall be final and irrevocable.

14. Once the next question has been distributed, queries, clarifications, questions and/or
protests shall no longer be entertained.

15. Failure to follow the instructions stated in this IRR shall merit the contestant a
warning. A maximum of two warnings shall be given to each contestant. A third
violation shall automatically disqualify the said contestant from the competition.

16. Organizing committee members shall be in-charge for monitoring the said offences.
Their decision shall be binding and irrevocable.

ELIMINATION ROUND

The following rules shall apply for the elimination round of AGS Cup 1 and 2.

1. The quizmaster shall read each question once only.

2. The contestants shall be provided with a copy of the questions.

3. The contestants shall start reading the question only when the quizmaster started
reading the same. Quizmaster shall say the word “FLIP” to signal the start of reading
the question.

4. The contestants may start answering and manipulating their calculators as soon as
the quizmaster has read the first word of the question. Any contestant who violates
the said provision shall be given a warning for the 1st and 2nd offense. Violation of this
provision for the 3rd time shall mean disqualification of the contestant from the
competition.

5. Before the time allotted for each question had lapsed, the contestant should have
written his/her answer on his/her answer board. When the bell rings signaling the
lapse of time allotted, the contestant should stop answering and must raise his/her
answer board. Otherwise, his/her answer shall be forfeited.

6. Contestants may neither glance nor talk to their seatmates during the contest
proper.

7. Contestants must not erase what they have written in the answer board unless the
quizmaster has given the clearance. This is to document the answer of the
contestants in case disputes/protests have been made on a certain question.

8. In view of the said protest, a contestant who erased their respective answer board is
deemed to be forfeiting the chance to challenge the announced answer in case they
may be correct.

9. The Elimination Round is composed of three (3) subset levels namely; Easy,
Average, and Difficult. Corresponding points, time allotments and number of
questions for Elimination Round are as follows:

Easy Average Difficult Clincher

Time allotment (Theory) 15 seconds 15 seconds 15 seconds 15seconds
Time allotment (Problems) 30 seconds 45 seconds 60 seconds 30 seconds
Total number of items per 10 10 10
round questions questions questions
Corresponding points 2 points 3 points 5 points
10. The top 10 contestants with the highest points shall advance to the Final Round.

11. In case of a tie, a question chosen either by the panel of judges or the Regional Vice
President for Academics or Event Project Head shall be asked to the concerned
contestants to break the dead lock. The first contestant to raise the correct answer
shall win the Clincher Round.

12. Clincher Round questions shall have no bearing on the cumulative scores of the
contestants.

FINAL ROUND

The following rules shall apply for the elimination round of AGS Cup 1 and 2.

1. This round shall be a buzzer type round.

2. All points shall revert to zero in this round.

3. There shall be 30 questions in the Final Round.

4. Time allotment, number of items, corresponding points for every correct answer and
corresponding deductions for every incorrect answer are as follows:

Easy Average Difficult Clincher

Time allotment (Theory) 15seconds 15 seconds 15seconds 15 seconds
Time allotment (Problems) 30 seconds 45 seconds 60 seconds 30 seconds
Corresponding points 10 points 15 points 20 points
Corresponding deduction 2 points 4 points 6 points
5. Negative points shall be awarded in the Final Round.

6. The privilege to choose the first question in this round shall be given to the
quizmaster. The contestant who shall answer the previously asked question
correctly shall have the right to choose the next question, and so on.

7. The contestants shall start reading the question only when the quizmaster started
reading the same. Quizmaster shall say the word “FLIP” to signal the start of reading
the question.

8. The contestants may start answering and manipulating their calculators as soon as
the quizmaster has read the first word of the question provided that before the
contestant presses the buzzer, his/her answer must already be written on the
answer board, otherwise his/her answer shall be deemed null and void. Any
contestant who violates the said provision shall be given a warning for the 1 st
offense. On the 2nd offense, the contestant shall be given sanction of accumulating
only 50% of his/her total score garnered in all rounds. Violation of this provision for
the 3rd time shall mean disqualification of the contestant from the competition.

9. The first contestant who presses the buzzer shall be given the chance to answer the
question.

10. If a contestant provides an incorrect answer, ONE chance of steal for each question
shall be given to other contestants. If the same question has been answered
correctly, the corresponding points for the question shall be given to the contestant
and he/she shall have the privilege to advance in the race. In case of a steal, an
incorrect answer and/or void answer shall have a corresponding point deduction on
that particular question.

11. Every correctly answered question shall allow a contestant to move one step
forward.

12. The contestant must aim to conquer the eight stages race and reach the finish line in
order to win the game. The first contestant to reach the finish line shall be declared
as the 1st place. The second and third contestants who shall reach the finish line
shall be declared as the 2nd and 3rd placers respectively.
13. In the event that only one contestant reached the finish line at the end of 30
questions, the 2nd and 3rd placers shall be determined based on the total
accumulated points. The two highest scorers, except for the one who has been
declared as 1st place, shall be declared as 2nd and 3rd placers respectively.

14. In the event that only two contestants reached the finish line at the end of 30
questions, the 3rd placer shall be determined based on the total accumulated points.
The highest scorer, except for the ones who were declared as 1st and 2nd placers,
shall be declared 3rd placer.

15. If no contestant reached the finish line, the three highest scorers shall be declared
as 1st, 2nd, and 3rd placers respectively.

16. In case of a tie, a question chosen either by the panel of judges or the Regional Vice
President for Academics or Event Project Head shall be asked to the concerned
contestants to break the dead lock. The first contestant to raise the correct answer
wins the clincher round.

17. Clincher Round questions shall have no bearing on the cumulative scores of the
contestants.

18. Special Powers, namely as IMMUNITY, FREEZE, and STEP

ADVANTAGE/DISADVANTAGE shall be given in this Round.

SPECIAL POWERS

Name Definition Quantity To use this power Timing of

usage
1. IMMUNITY This power shall The contestant
prevent STEP must correctly
DISADVANTAGE answer three
command questions
throughout the consecutively.
competition from
being awarded to a
contestant. But it
 cannot prevent the
freeze command.

2. FREEZE This special power One for each The contestant After the quiz
commands one contestant must raise his master
contestant to lose a Flag/Symbol to announces the
turn or prevent the attention of level of
him/her from the quizmaster. difficulty and
answering and subject of the
stealing the question but
question. before the
reading the
question itself.
3. STEP This power shall Three Step The contestant A contestant
ADVANTAGE / allow the contestant Advantage must correctly must right
DISADVANTAGE to make himself / Powers are answer the away use this
herself move hidden in specific question
power. A
forward twice or three containing this
make this opponent randomly power contestant can
move two steps selected waive but
backward. questions cannot defer
the usage of
this power.

THE CLASH

1. There shall be 30 questions in this competition.

2. The contestant shall be given a hard copy of the question

3. The contestants shall start reading the question only when the quizmaster started
reading the same. Quizmaster shall say the word “FLIP” to signal the start of reading
the question.

4. The contestants may start answering and manipulating their calculators as soon as
the quizmaster has read the first word of the question. Any contestant who violates
the said provision shall be given a warning for the 1stand 2nd offense. Violation of this
 provision for the 3rd time shall mean disqualification of the contestant from the
competition.

5. Before the time allotted for each question had lapsed, the contestant should have
written his/her answer on his/her answer board. When the bell rings signaling the
lapse of time allotted, the contestant should stop answering and must raise his/her
answer board. Otherwise, his/her answer shall be forfeited..

6. Contestants must not erase what they have written in the answer board unless the
quizmaster has given the clearance. This is to document the answer of the
contestants in case disputes/protests have been made on a certain question.

7. In view of the said protest, a contestant who erased their respective answer board is
deemed to be forfeiting the chance to challenge the announced answer in case they
may be correct.

8. Point deduction shall be awarded to contestants who failed to give the correct
answer.

9. Three different score multipliers, which also applies to the point deductions, shall be
given to each contestant. It shall multiply the points to be acquired by 1, 2 and 3. To
use it, the contestants must raise flags symbolizing the multipliers to be used.

10. Time allotment, number of items, corresponding points for every correct answer and
corresponding deductions for every incorrect answer are as follows:

Easy Average Difficult Clincher

Time allotment (Theory) 15seconds 15 seconds 15seconds 15 seconds
Time allotment (Problems) 30 seconds 45 seconds 60 seconds 30 seconds
Corresponding points 10 points 15 points 20 points
Corresponding deduction 2 points 4 points 6 points

12. Top 3 contestant shall be declared as the 1st, 2nd and 3rd Placers of The Clash

13. In case of tie, a clincher question shall be given by the board of judges and / or the
Regional Vice President for Academics.
ENFORCEMENT OF THE IMPLEMENTING RULES AND REGULATIONS

1. It shall be the primary duty of the Regional Vice President for Academics, the Event
Project Head, and the Council to effectively enforce the provisions of this
Implementing Rules and Regulations. The Council also has the sole right to interpret
the contents of this Implementing Rules and Regulations and their decision shall be
binding and irrevocable.

2. All the host schools of NCR Cup, upon the call or request of the Regional Vice
President for Academics or the Event Project Head or the Council, shall render
assistance in enforcing this Implementing Rules and Regulations and to give
necessary action to any person violating the provisions of the same.

3. The Regional Adviser or the duly designated representative shall act as legal adviser
to the Regional Vice President for Academics, or the Event Project Head, or the
Council and shall render legal assistance as may be necessary in carrying out the
provisions of this Implementing Rules and Regulations.

AMENDMENTS OR REVISIONS

1. The Council shall be vested with the exclusive power to revise and amend this
Implementing Rules and Regulations.

2. Any amendments to or revisions to this Implementing Rules and Regulations may be

proposed by any member of any Local Chapter upon a written request of such
member, stating the reasons thereto.

3. Any request for amendments and revisions as well as proposed amendments must
initially be reviewed by the Regional Vice President for Academics attested by the
Regional Adviser and then forwarded to the Regional Executive Officers for
discussion, editing and final approval.
4. The Regional Executive Officers shall have the right to debunk any proposed
revisions and amendments, submitted to them by the Regional Vice President for
Academics, which are deemed unnecessary. The final decision on any inclusions
and exclusions to this Implementing Rules and Regulations must be determined by a
majority vote of all Regional Executive Officers in which the Regional Vice President
for Academics is included.

5. Amendments to particular provisions in this Implementing Rules & Regulations shall

be allowed provided that such amendments shall be communicated to the local
chapters before the commencement of AGS Cup 1.

SEPARABILITY CLAUSE
If any clause, provision, paragraph or part of this Implementing Rules and Regulations
shall be declared unconstitutional or invalid, such judgment shall not affect, invalidate,
or impair any other part hereof, but shall be merely confined to the clause, provision,
paragraph or part directly involved in the controversy in which such judgment has been
rendered.

REPEALING CLAUSE
Any rule and regulation or resolution or part/s thereof inconsistent with the provisions of
this Implementing Rules and Regulations are hereby repealed or modified accordingly.

EFFECTIVITY
This Implementing Rules and Regulations shall take its effect immediately after
presentation to the assembly. Promulgated in the City of Manila this this 28th day of
March, 2016.
PREPARED BY:

________________________________________
Susan G. Salomon
Regional Vice President for Academics
Technological Institute of the Philippines – Manila

CERTIFIED CORRECT:

________________________________________
Marissa L. Dela Cruz
Regional Executive Secretary
Philippine Christian University

APPROVED BY:

________________________________________ ________________________________________
Jerwin Dave V. Patacsil Daniel L. Antonio
Regional President Regional Vice President for Non Academics
Far Eastern University - Manila University of Santo Tomas

________________________________________ _____________________________________
Gene Albert S. Alvaro Arielle Anne M. Alipio
Regional Vice President for Finance Regional Vice President for Membership
Pamantasan ng Lungsod ng Maynila Pamantasan ng Lungsod ng Maynila

________________________________________ ________________________________________
Arjay D. Macatangay Anna Rizza T. Aborde
Regional Vice President for Information and Publicity Regional Vice President for Communications – North
University of the East – Manila University of the East –Caloocan

________________________________________ _______________________________________
Maria Flordilisa Inday Flor V. Callueng Mark Daniel A. Bernales
Regional Vice President for Communications – East Regional Vice President for Communications – West
Philippine School of Business Administration – Quezon City Adamson University
 ________________________________________ ________________________________________
Carlo Iñigo A. Ayo Julius F. Llanera
Regional Vice President for Communications – South Regional Vice President for Audit
San Beda College of Alabang Manuel L. Quezon University

NOTED BY:

________________________________________ ________________________________________
Shayne Rose R. Bulos, CPA, MBA Rolando R. Hogar, CPA
Regional Adviser Regional Co-Adviser
Insurance Commission Philippine Christian University