BABYLON2K CHRONICLES
Audit Trails and Financial Tales
Welcome to a realm where numbers come to life, and financial tales weave a narrative that goes beyond the balance sheets, unlocking the secrets of Babylon2k’s financial universe.
How To Apply for a Pag Ibig Multi-Purpose Loan Online (MPL)
Applying for a Pag-IBIG Multi-Purpose Loan (MPL) has never been easier! Gone are the days of standing in long queues and navigating through piles of paperwork. Today, all you have to do is complete all the requirements and apply directly on Pag-IBIG’s official website. This streamlined online process allows you
Near-the-Future Money: CBDC in the Philippines
Digitalization has been popular nowadays, with cashless payment options such as GCash and Maya. Likewise, the Philippines’ journey to transform the peso into a digital currency is at a crucial stage. The Bangko Sentral ng Pilipinas (BSP) has announced that banks and financial institutions will implement a wholesale CBDC, dubbed
Taxation on Go-Bags: Are Emergency Kits Subject to Levies?
Preparedness Meets Compliance With the recent events the Philippines has faced — floods, frequent earthquakes, and volcanic eruptions, it underscores the importance of being prepared for such disasters. Hence, “Go-bags” are highly encouraged for households, survival kits containing food, water, supplies, and other essentials in case of an emergency. Yet,
AI and the Data Privacy Act: A Gap in Confidentiality
Recently, when OpenAI CEO Sam Altman emphasized that conversations with ChatGPT might need to be “produced” and easily given if authorities demanded it, a renewed discussion was started on one of today’s most pressing problems: how confidential are our interactions with AI systems? Altman’s discussion highlights a reality often underestimated
Insights from ACPAPP: How CPAs Can Lead Through Technology
The accounting profession is at crossroads — where tradition meets technological transformation. With the new generations’ technology, such as automation, AI, and sustainable practices, businesses need to reshape their operations. Nowadays, CPAs are not just safeguarding ledgers but also serving as strategists, innovators, and catalysts. The abovementioned was strongly highlighted
Capitalization of Borrowing Cost from Interest-Free Advances
When a company receives an interest-free advance from a related party, an accounting question arises: can the borrower capitalize any borrowing cost related to that advance? Under the accounting standards, specifically PAS 23 – only borrowing costs actually incurred by the entity can be capitalized as part of a qualifying
The Blockchain Bill: Can it Fix the Corruption?
When was the last time you checked where your taxes really went? — Ghost projects, delayed infrastructure or projects, contracts that vanished into thin air. Corruption in the Philippine governance is truly an old, deeply-rooted enemy of the public, draining the trust and hopes of the people. We have seen