A. Telecommunications Entities (Access the financial statements of PLDT Inc. and Globe

Telecom, Inc.)

1. How do telecommunication entities account its revenue in relation to SMS, Voice and

Data/Internet? Is there a difference if the subscriber's plan is prepaid or postpaid?

2. Is impairment of receivables a key issue for telecommunication entities? Explain.

3. Is write-down of inventories a key issue for telecommunication entities? Explain

4. Is impairment of property, plant and equipment a key issue for telecommunication

entities? Explain.

5. What are the key audit issues for telecommunications entities? How should the auditors

address such issues?

B. Media and Entertainment Entities (Access the financial statements of ABSCBN Corporation

and GMA Network, Inc.)

1. What are the key revenue streams for media and entertainment entities, and how are

they accounted for?

2. Media and entertainment entities have significant intangible assets in relation to its

artistic outputs. How should they account (recognition and measurement) for such

intangible assets?

3. What are the key audit issues for media and entertainment entities? How should the

auditors address such issues?

C. Common to Telecommunications and Media and Entertainment Entities

1. How should telecommunications and media and entertainment entities account for its

legislative franchises?

reference:

https://www.carnegiemellonsws.com/uploads/5/3/8/0/53806841/sws_media_and_telecommunications_report_.pdf

https://assets.kpmg/content/dam/kpmg/us/pdf/internal-audit-unlocking-value-telecom.pdf

https://www.acaweb.ca/en/wp-content/uploads/sites/2/2016/09/Media-Auditing-EN.pdf