The First Filipino Accountant

Accounting is a noble profession. The path towards becoming an accountant is not easy. It takes a lot of courage, patience and perseverance. Many people said that to be an accountant, one must be intelligent and good in Math. But one person says being intelligent and good in Math is not enough, to become an accountant you must be resourceful and has sense of logic because it is easy to add and deduct but it is hard to analyze what the problem is really asking for. That person is Don Vicente Fabella. Don Fabellla was an educator, economist, civic leader, founder of Jose Rizal University and the first Filipino Certified Public Accountant. This star boy was born on the 7th day of May, 1981 in Pagsanjan, Laguna. He was the third among the six children of Mr. Juan Fabella, a great mayor of Pagsanjan during the Spanish and American regimes, and Mrs. Domiana Fernandez. He obtained his Bachelor of Arts degree from the University of the Philippines in 1912 and continued his studies in the United States. There, he obtained concurrent degree of commerce of Bachelor of Philosophy from the University of Chicago and a diploma in commerce from Northwestern University in 1915. That same year, he reach the first step of his dream and that is to passed the BAR exam for being an accountant in the state of Wisconsin and made name for the Philippines for which he became the first Filipino Accountant. Upon his return to the Philippines just after the result of the CPA Board Exam, the star boy became the professional lecturer in accounting and auditing at the U.P and at the same time, he opened the accounting firm named Vicente Fabella and Company. He was also one of the instruments that led to the founding of Far Eastern College (now Jose Rizal University) of Accounts, Commerce and Finance in 1919 and became the first president. The following year, the first government examination for CPAs in the Philippines was given and Don Fabella was among the first to be licensed in the country. His office was instrumental in the drafting of Act 3105, which became the basis of the CPA Law of the Philippines and Dr. Conrado Benitez credited him with having elevated public accountancy to the status of a profession, adding that the training of CPAs is his lasting contribution to the building of the nation. Also, Don Fabella became one of the founding members of the Philippines Association of Colleges and Universities (PACU) and of the Philippine Association of Collegiate Schools of

Business (PACSB) which was formally set up in 1962. In 1935, he was named Philippine delegate to the 4th International Congress on Accounting in London and helped the establishment of the National Collegiate Athletic Association (NCAA) and of the Reserve Officer Training Corps (ROTC) in 1937. He was a charter member of the Delta Mu Delta, an honorary society of Northwestern University, and a member of the
American Association of University Instructors in Accounting. However, just like a normal person whos not always on top, Don Fabella encountered a big problem for which the Japanese invaded the Philippines in 1941. He was forced to shut down JRC as a gesture of protest, and get himself involved in an underground movement. He moved JRC to its present spacious grounds in Mandaluyong. This was also the time when he turned over his accounting firm to younger brother and allowed him to work in a more relaxed manner and to make frequent travels abroad.

Then in 1955, Pres. Ramon Magsaysay asked him to join the Central Bank Survey Commission which last to over a year to complete its work. Thus, he took his last long trip to Europe in 1957. Don Fabella, the star boy passed away on February 14, 1959. But his legacy and contribution being the first Filipino Accountant will remain. (geemiz.com)