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COLLEGE : RVR COB DEPARTMENT : Accountancy

COURSE CODE : MODFIN2 ROOM :
INSTRUCTOR NAME :

CLASS DAYS : M - H
CONTACT DETAILS : CLASS TIME : 0940 -1110/
1120 - 1250
CONSULTATION
HOURS
: To be announced



COURSE DESCRIPTION:
This course MODFIN2, FINANCIAL ACCOUNTING AND REPORTING FOR ASSETS PART 2, deals with
the study of fundamental assumptions, theoretical concepts and generally accepted accounting principles as
discussed in the Philippine Accounting Standards (PAS) and the Philippine Financial Reporting Standards (PFRS);
the conditions under which they may be appropriately applied and their impact or effect on the financial statements.
The course covers detailed discussion, appreciation and application of accounting principles covering assets,
financial and non-financial. Emphasis is given on the interpretation and application of theories of accounting in
relation to cash, receivables, property, plant and equipment including depreciation methods, revaluation and
impairment of property assets, wasting assets, depletion; and other types of investments.


LEARNING OUTCOMES (LO):
UNIVERSITY
EXPECTED LASALLIAN GRADUATE
ATTRIBUTES (ELGA)
LEARNING OUTCOMES
On completion of the course, the student is expected to be
able to do the following:

Critical and creative thinker
Effective communicator
Reflective lifelong learner
LO1: Apply appropriate accounting standards on cash,
receivables, property, plant and equipment including
depreciation methods, revaluation and impairment of
property assets, wasting assets, depletion; and other types of
investments in the analysis of business transaction.

LO2: Prepare and present a written report synthesizing the
application of PAS 8, 16, 20, 36, 32, 40 and PFRS 6, 7 and 9
in a real world scenario.


FINAL COURSE OUTPUT:
LEARNING OUTCOMES

REQUIRED OUTPUTS DUE DATE
LO1: Apply appropriate accounting standards on cash,
receivables, property, plant and equipment including depreciation
methods, revaluation and impairment of property assets, wasting
assets, depletion; and other types of investments in the analysis of
business transaction.

At least fifty solved
exercises/problems per
unit with at least ten
solved exercises/problems
per major topic in the unit

Days 5, 11,
17, 23, 27
LO2: Prepare and present a written report synthesizing the
application of PAS 8, 16, 20, 36, 32, 40 and PFRS 6, 7 and 9 in a
real world scenario.
One written critique paper. Days 30, 32






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RUBRIC FOR ASSESSMENT:

Solved Exercises/Problems
CRITERIA EXEMPLARY
4
SATISFACTORY
3
DEVELOPING
2
BEGINNING
1
RATING
Completeness
[80%}
The student solves
all assigned
exercises/problems
and presents all
solutions in good
accounting form.

The student solves
all of the assigned
exercises/problems.
The student solves
majority but not
all of the assigned
exercises/problems
The student does
not solve majority
of the assigned
exercises/problems.

Neatness and
Orderliness
[20%]
The student solves
exercises/problems
in an orderly
manner, corrects
error properly,
labels all
solutions, writes
legibly, uses ruler,
uses money
columns correctly
and preserves the
neatness of the
assignment
portfolio.

The student solves
exercises/problems
in an orderly
manner and
corrects errors
properly.
The student
somewhat solves
exercises/problems
in an orderly
manner and
correct errors
somewhat
improperly.
The student does
not solve
exercises/problems
in or orderly
manner and
corrects error
improperly.

TOTAL:

Written Critique Paper
CRITERIA EXEMPLARY
(100)
SATISFACTORY
(90)
DEVELOPING
(80)
BEGINNING
(70)
RATING
Content
(Application of
MODFI N2
and inclusion
of logical and
realistic
assumptions)
[80%]
The student applies
MODFIN2 topics
appropriately and
includes only realistic
assumptions and
ethical decision-
making in the paper.
The student
applies
MODFIN2 topics
appropriately and
includes a few
unrealistic
assumptions in
the paper.
The student
applies MODFIN2
topics somewhat
inappropriately
and includes some
unrealistic
assumptions in the
paper.
The student
applies MODFIN2
topics
inappropriately
and includes
unrealistic
assumptions in the
paper.

Format and
Use of English
Language
[20%]
The student follows
the format and has
not one spelling/
grammatical error in
the paper.
The student
follows the
format and uses
only the English
language in the
paper which is at
an acceptable
level.
The student
follows the format
but uses a mixture
of Filipino and
English language
in the paper and/or
uses the English
language
somewhat
inappropriately.
The student does
not follow format
and uses a mixture
of Filipino and
English language
in the paper and/or
uses the English
language
inappropriately.

TOTAL:


OTHER REQUIREMENTS AND ASSESSMENTS:
Aside from the required outputs, the student will be assessed at other times during the term by the following:
Proficiency Tests/Quizzes
Comprehensive Examination
Class participation/recitation
Promptness in submitting required works
Attendance and punctuality
Good manners and right conduct


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GRADING SYSTEM:

Basis Percentage
Comprehensive Examination 30%
Average Quizzes * 50%
Assignment Portfolio 10%
Critique Paper** 5%
Class Standing*** 5%
Total 100%

* Four (4) quizzes will be given in this course.
** Critique on an article taken from the Internet or accounting journals.
*** Class standing shall consist of recitation, seatwork, attendance, punctuality, good manners and
right conduct.

GRADE POINT DESCRIPTION EQUIVALENCE
4.0 Excellent 97 - 100
3.5 Superior 94 - 96
3.0 Very Good 91 - 93
2.5 Good 87 - 90
2.0 Satisfactory 83 - 86
1.5 Fair 77 - 82
1.0 Pass 70 - 76
0.0 Failure Below 70%

COURSE GRADE REQUIREMENT 2.0 (83%)


LEARNING PLAN:

LEARNING
OUTCOME

TOPICS
WEEK
NO.
LEARNING
ACTIVITIES
UNIT 1: ACCOUNTING FOR CASH
LO1 1.1 Definition, nature and composition of cash and cash
equivalents
1.2 Recognition and Measurement of Cash
1.3 Management and Control of Cash
1.3.1 Petty cash fund Imprest System
1.3.2 Bank reconciliation at a single date adjusted
balances method
1.4 Proof of Cash simple illustration
1 Read Chapter 7 of
Kieso book; and answer
assigned exercises
(please refer to list of
homework)
UNIT 2: ACCOUNTING FOR RECEIVABLE
LO1 2.1 Definition, nature, recognition, measurement,
valuation, classification, presentation, derecognition
and disclosure
2.2 Accounts Receivable
2.2.1 Estimating uncollectible accounts
2.2.2 Accounts receivable as a source of cash
pledge, assignment, factoring
2.3 Notes Receivable
2.3.1 Interest and non-interest bearing short-term
and long-term notes
2.3.2 Notes Receivable as a source of cash
discounting of notes (with or without recourse)
2.3.3 Loans Receivable
2 - 3 Read PAS 32,
PFRS 7 & 9, Chapter 7
of Kieso book; and
answer assigned
exercises (please refer to
list of homework)





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UNIT 3: ACCOUNTING FOR PROPERTY, PLANT AND EQUIPMENT
LO1 3.1 Nature, recognition, measurement, valuation,
classification, presentation, derecognition, disclosure
and accounting changes
3.2 Acquisition Methods
3.3 Costs Subsequent to Acquisition
3.4 Depreciation Methods
3.5 Accounting Changes Affecting Depreciation
3.6 Revaluation and Impairment
3.7 Retirement and Disposals
3.8 Wasting Assets and Depletion
4 - 6 Read PAS Nos. 8, 16,
20, 36
PFRS 6
and Chapters 10 and 11
of the Kieso book; and
answer the assigned
exercises (please refer to
list of homework)
UNIT 4: ACCOUNTING FOR OTHER TYPES OF INVESTMENT
LO1
LO2
4.1 Investment in Funds Sinking Fund
4.2 Investment in Cash Surrender Value in Life Insurance
4.3 Investment Property
6 - 7 Read PAS 40 and
answer assigned
exercises (please refer to
list of homework);
write critique paper


REQUIRED TEXT AND REFERENCE MATERIALS:

Kieso, Donald; Weygandt, Jerry; Warfield, Terry. 2011 Intermediate Accounting (IFRS Edition) Volumes
1 and 2. John Wiley and Sons, Inc. (TEXT)

Compilation of Recently Approved Philippine Accounting Standards (PAS)/Philippine Financial Reporting
Standards (PFRS)

Valix, Conrado T. and Peralta, Jose F. 2012. Financial Accounting Volumes 1 2 and 3 GIC Enterprises & Co.
Inc.

Skousen, Stice and Stice. 2010. Intermediate Accounting (17
th
Edition). Thomson South-Western.

Lam, Nelson and Lau, Peter. 2009. Intermediate Financial Reporting: An IFRS Perspective . McGraw-Hill
Education (Asia).

Robles, Nenita and Empleo, Patricia. 2010. Intermediate Accounting (Based on PFRS/IFRS) Volumes 1, 2 and
3. Millennium Books, Inc.

Alindada, Carlos; Ledesma, Ester and Lupisan, Ma. Concepcion. 2007. Intermediate Accounting: Applying
International Financial reporting Standards Philippine Edition. John Wiley and Sons Australia Ltd.

Kieso, Donald; Weygandt, Jerry; Warfield, Terry; Fargher, Neil and Wise, Victoria. 2008. Fundamental
of Intermediate Accounting (12
th
Edition). John Wiley and Sons Australia, Ltd.


ONLINE RESOURCES:
1. http://www.iasplus.com
2. http://www.wileyplus.com
3. http://iasb.org


CLASS POLICIES:
1. Only BSA students who passed the qualifying examination are qualified to take this course.

2. A contract called Policies and Procedures for Incoming Modular BSA Students is given at the start of the term.

3. This course is a prerequisite to Module 2. Only students who obtained a final grade of 2.0 in this course may
qualify for Module 2.

4. A total of 4 departmentalized quizzes will be given in this course. A quiz will cover specific topics and is good
for 1.5 hours.

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5. There is no midterm examination.

6. The comprehensive examination is departmental, covers the entire course syllabus and is good for three (3)
hours. This is given on the last day of the module and includes a combination of multiple choice theory and
problem solving questions.

7. The assignment portfolio shall be written in a 10-column journal notebook. The notebook shall be checked
every quiz day.

8. Guidelines regarding the critique would be given by the faculty member to the class at least one week prior to
submission deadline. Deadline of submission will be included in these guidelines. The written reports must be
submitted not later than 5 pm of the deadline date.
9. It is the responsibility of the student to be mindful of his/her absences/tardiness and performance in class.

10. Specific class policies on attendance, make-up quizzes, academic honesty, grading system, dress code,
classroom management, and others not mentioned above, are to be discussed by the faculty member on the first
day of classes.

11. Please observe office hours and consultation hours/schedule of the faculty member.
12. For student concerns regarding the BSA program or the course, please set an appointment with the Department
Vice Chair. For all other inquiries, please visit the Accountancy Department. The Accountancy Department is
located at St. La Salle Building, 3
rd
floor, Room 324. When inside the Department, students are expected to
observe silence, and maintain the cleanliness and orderliness of the room. Important announcements will be
posted on the Accountancy Department bulletin board, St. La Salle Building, 3
rd
floor, North Wing.


May 2013
Financial Accounting Committee




Herminigilda E. Salendrez
Chair, Accountancy Department