Former Name: “Rich Dad Consultancy and Financial Services” (May 2003, General Professional Partnership GPP)

Current Name: “Minerva & Company, Certified Public Accountants” (Sep. 1, 2010)

Partner Interviewed: “Eulalio J. Minerva”

Tag Line- “Your business is our business.”

M.I.N.E.R.V.A.M- MinervaI-IntegrityN-NobilityE-EntrepreneurshipR-Result-focusedV-VersatilityA-Accountability

There are currently 5 partners1. Eulalio J. Minerva2. Elmer P. Minerva – Senior Partner, Managing Partner3. Edwin P. Minerva4. Edmund P. Minerva5. Mae Cora L. Minerva6.

Jan. 2011- Formal Start of business

Sep. 2011- Moved to Veterans bank (address)

Services Offered Financial Audit - Audit and Assurance Services Tax Services -Taxation Accounting Services -General Accounting Services Management Services -Business Advisory Special Audit Engagements -H.R. Services (outsourcing)(salary scaling)

For Applicants:-Extra-curricular activities (officers of JPIA in the School or Cebu Chapter)-Honors (Magna, Suma Cum Laude)-Communication skills (oral and written)-Take written exercises upon application

Advices:

- Balance extra-curricular activities in the school- Have confidence,

initiative,common sense

-Smart

-Intelligence (book smart)

1.) Culture – live with the values (M.I.N.E.R.V.A.)-like a family ang treatment (if nay maayo ug performance kay ma-praise then if nay magpabadlong or dli maau ug performance kay i-discipline)-open communication lines

*They have a new branch in Iloilo*Manila and Cagayan branch- coming this year 2015 *In lieu of the ASEAN Intgration, the Minerva is planning to expand internationally (Cambodia, Vietnam)*BOA 104 (removes the Philippines from the negative list for letting CPAs practice internationally)*Salaries of CPAs in the Philippines is very low;*99% of the businesses in the Philippines are SME’s (with assets 100Million and below)*The Philippines is advanced in accounting

*Working in audit firms is not financially rewarding specially for newbies but they are exposed to the job of Public Practice in the firm*While others who want to earn more go to places other than auditing firms

*They focus on discipline and learning*Different audits, different clients*5 years in private companies is equal to 1 year in auditing firms (knowledge and learnings)*Communication Skills- English

*For Promotion- evaluation is every 6 mos.

3 Areas of Responsibility of the Firm1. To its Clients2. People3. Stakeholders

*Dissolution of partnership- death of partner

*M’s Arcade- Eulalio’s arcade which he converted into the first workplace of the firm.*Related business- Link’s Business Central (Virtual Space Provider)

*Internal Issues- HR handles them*Independence

-the employees sign a paper about their independence-disclose blood relationship with any officers in a business

*Number 1 threat- Familiarity Threat-Logically treat problems-safety nets to eliminate possible doubts

*Seasonal ang business sa auditing firm-income is usually @ year end-cash flows should be managed well

*Cannot audit without accreditation with various entities (BSP, SEC, CDA)

*They decline engagements-without records-just wants to sign a report

*Survival in the competition*Finances is very difficult to manage

From Mr. Eulalio – “Life is what you make of it”