This action might not be possible to undo. Are you sure you want to continue?
: RVR COB : MODFIN1 : Ma. Gina T. Manaligod/ Michael Edward S. Mercado : firstname.lastname@example.org/ email@example.com : To be announced
DEPARTMENT ROOM CLASS DAYS CLASS TIME
: Accountancy : L313/L312 : M -H : 0800 - 0930/ 0940 - 1110
COURSE DESCRIPTION: This course MODFIN1, FINANCIAL ACCOUNTING AND REPORTING FOR ASSETS – PART 1, introduces the nature, functions, scope and limitations of the broad field of accounting theory. It deals with the study of the theoretical accounting framework of financial statements, accounting conventions, and generally accepted accounting principles. Its starts with the discussion of the standard setting process for accounting practice, national as well as international principles relating to the preparation and presentation of financial statements, the conditions under which they may be appropriately applied, their impact or effect on the financial statements; and the criticisms commonly leveled against them. The course covers detailed discussion, appreciation and application of accounting principles covering assets, both financial and non-financial. This course begins with a discussion of the objectives and functions of the International Accounting Standards Board (IASB) and the Financial Reporting Standards Council (FRSC), the standard setting process, the conceptual framework of financial accounting and Philippine Accounting Standard 1 (PAS 1) on the presentation of financial statements. This course will also emphasized on the interpretation and application of theories of accounting in relation to inventories, investments in debt and equity instruments, related party disclosures and intangible assets. LEARNING OUTCOMES (LO): UNIVERSITY EXPECTED LASALLIAN GRADUATE ATTRIBUTES (ELGA) Critical and creative thinker Effective communicator Reflective lifelong learner LEARNING OUTCOMES On completion of the course, the student is expected to be able to do the following: LO1: Apply appropriate accounting standards on inventories, investments in debt and equity instrument, related party transactions and intangible assets in the analysis of business transaction. LO2: Prepare and present a group case analysis synthesizing the application of PAS 1, 2, 24, 28, 32, 38 and PFRS 7 and 9 in a real world scenario.
FINAL COURSE OUTPUTS: As evidence of attaining the above learning outcomes, the student is required to do and submit the following during the indicated dates of the term: LEARNING OUTCOMES REQUIRED OUTPUTS DUE DATE LO1: Apply appropriate accounting standards on inventories, investments in debt and equity instrument, related party transactions and intangible assets in the analysis of business transactions. 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 group case analysis synthesizing the One written group application of PAS 1, 2, 24, 28, 32, 38 and PFRS 7 and 9 in a real business case analysis and world scenario presentation
Days 30, 32
The student solves exercises/problems in an orderly manner and corrects errors properly. 28. The group writes the report not following the prescribed formant having sentences and paragraphs with many spelling and grammatical errors. 24. The group shows lack of teamwork as evidenced in the inconsistencies both in the flow and contents of the paper. 32. corrects error properly. SATISFACTORY 3 The group applies appropriate PAS/PFRS and includes minor recommendations that have little impact on decisionmaking. labels all solutions. DEVELOPING 2 The student solves majority but not all of the assigned exercises/problems BEGINNING RATING 1 The student does not solve majority of the assigned exercises/problems. The group writes the report somewhat following the prescribed format having sentences and paragraphs with many spelling and grammatical errors. 38 and PFRS includes recommendations 7 and 9 and for the inclusion of recommendations improvement of its compliance on how to that will aid in improve compliance to the decision-making. Teamwork [10%] The group shows strong teamwork as evidenced in the oneness and consistency both in the flow and contents of the paper. TOTAL: Written Business Case Analysis CRITERIA EXEMPLARY 4 The group applies Content appropriate (Application of PAS/PFRS and PAS 1. RATING The group writes the report following the prescribed format with sentences and paragraphs having minor spelling and grammatical errors. The student does not solve exercises/problems in or orderly manner and corrects error improperly.RUBRIC FOR ASSESSMENT: Solved Exercises/Problems CRITERIA EXEMPLARY SATISFACTORY 3 4 Completeness The student solves The student solves all assigned all of the assigned [80%} exercises/problems exercises/problems. and presents all solutions in good accounting form. writes legibly. The group shows teamwork as evidenced in the consistency in terms of content of the paper. The student somewhat solves exercises/problems in an orderly manner and correct errors somewhat improperly. PAS/PFRS) [80%] Format and Use of English Language [10%] The group writes the report following the prescribed format with sentences and paragraphs having no spelling and grammatical error.. Neatness and The student solves exercises/problems Orderliness in an orderly [20%] manner. The group shows somewhat a lack of teamwork as evidenced in some inconsistencies both in the flow and contents of the paper. DEVELOPING 2 The group applies PAS/PFRS somewhat inappropriately and includes somewhat unrealistic recommendations. 2. TOTAL: 2 . uses ruler. uses money columns correctly and preserves the neatness of the assignment portfolio. BEGINNING 1 The group applies PAS/PFRS inappropriately and includes unrealistic recommendations.
All the group members are in complete business attire. Some of the group members not in business attire. The group is disorganized and shows lack of teamwork as evidenced in the presentation. None of the group members are in business attire. The group uses somewhat inappropriately the common features of Powerpoint. BEGINNING 1 The group communicates vaguely the content of the report and does not generate interest among audience. RATING The group includes all required items and materials in the report. The group is somewhat organized and shows a hint of teamwork as evidenced in the presentation. Proper use of Powerpoint tools and features (including design and creativity) [10%] Teamwork [10%] The group uses appropriately more than the commonly-used features of Powerpoint.Group Presentation CRITERIA EXEMPLARY 4 The group Oral communicates presentation clearly the content skills of the report and [35%] generates interest and establishes rapport among audience. DEVELOPING 2 The group communicates somewhat clearly the content of the report and generates little interest among audience. items and materials in the report. The group The group includes includes some of many irrelevant the required items in the report. 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 GRADING SYSTEM: Basis Comprehensive Examination Average Quizzes * Assignment Portfolio Business Case Analysis Class Standing** Total Percentage 30% 50% 10% 5% 5% 100% 3 . Presentation content [35%] The group includes all relevant items and materials in the report. The group is organized and shows teamwork as evidenced in the presentation. TOTAL: Business Attire [10%] Some of the group members are in complete business attire. The group uses appropriately the common features of Powerpoint. The group uses inappropriately the common features of Powerpoint. OTHER REQUIREMENTS AND ASSESSMENTS: Aside from the required outputs. SATISFACTORY 3 The group communicates clearly the content of the report and generates some interest among audience. The group is organized and shows strong teamwork and camaraderie as evidenced in the presentation.
nature.2. current structure and processes. valuation.3 Use of more than one cost method 2.0 DESCRIPTION Excellent Superior Very Good Good Satisfactory Fair Pass Failure EQUIVALENCE 97 .1.2 Perpetual inventory system 2.5. harmonization of accounting standards.GRADE POINT 4.4 The environment of financial accounting 1.4.1. formation and achievements of the IASC 1.4 Estimating Inventory Cost 2. Financial Reporting Standards Council – creation.82 70 . and answer assigned exercises (please refer to list of homework) UNIT 2: ACCOUNTING FOR INVENTORIES LO1 2.5 3. and answer assigned exercises (please refer to list of homework) 4 .90 83 .3 Costing Methods 2.2 Retail inventory method (FIFO and Average) 2.1 Purchase commitment 2.2 Inventory Recording Systems 2. history.0 3.5 Lump-sum acquisition 2&3 Read PAS 2.3.4. presentation.5 Conceptual framework of financial accounting 1 Read Conceptual Framework and PAS No. recognition. classes. measurement.0 1. Chapters 1 and 2 of Kieso book.5.100 94 .1 Definition.86 77 .0 (83%) COURSE GRADE REQUIREMENT LEARNING PLAN: LEARNING OUTCOME TOPICS WEEK NO.93 87 .1 Gross profit method 2.5 1.5.2 At lower of cost or net realizable value – valuation at balance sheet date 2. derecognition and disclosure 2. classification. membership.5.3 Financial accounting and financial statements 1.96 91 .3.76 Below 70% 2.4 Borrowing costs 2.5.0 0.1 Periodic inventory system 2.2.1 At cost (Specific Identification.0 2. LEARNING ACTIVITIES UNIT 1: FINANCIAL REPORTING STANDARDS COUNCIL AND THE CONCEPTUAL FRAMEWORK LO1 1.5 Other Inventory Issues 2. globalization of capital markets.2 Inventory valued at selling price 2. FIFO and Average) – initial recognition 2.5 2. standard setting process 1. objectives and functions.2 The IASB. Chapters 8 and 9 of Kieso book.
2 Available-for-sale 3.7 Franchise 7 Read PAS 38 and Chapter 12 of the Kieso book. Intermediate Accounting (17th Edition). McGraw-Hill Education (Asia). Intermediate Accounting (IFRS Edition) Volumes 1 and 2.5 Related Party Disclosures 3.3 Investment in Equity Instruments 3. derecognition. presentation.2. Jerry. Terry. (2008). Neil and Wise. answer the assigned exercises (please refer to list of homework). Carlos.4.1.3. Nelson and Lau. (TEXTBOOK) Compilation of Recently Approved Philippine Accounting Standards (PAS)/Philippine Financial Reporting Standards (PFRS) Valix. Thomson South-Western. ( 2009). Weygandt.1. Inc. definitions and disclosure 4 Read PAS 24. Weygandt.1 Marketable Equity Securities 3. Financial Accounting Volumes 1 2 and 3 GIC Enterprises & Co. presentation.3. Jerry. Donald. derecognition and disclosure including amortization of identifiable intangible assets using straight-line method 4.2 Introduction to financial instruments 3. Intermediate Accounting : Applying International Financial reporting Standards Philippine Edition. Alindada. Millennium Books.1 Nature. Peter. Kieso. Patricia. Nenita and Empleo. Lam.(2010). Jose F. ( 2007).4 Research and Development Costs 4. Ester and Lupisan.1 Patents 4.4. recognition. and answer the assigned exercises (please refer to list of homework) 5&6 UNIT 4: ACCOUNTING FOR INTANGIBLES LO1 LO2 4. Donald.1. Warfield. measurement. classification. valuation. Victoria. valuation.5. 9 and Chapters 17 and 24 of the Kieso book.1 Trading 3. John Wiley and Sons. Conrado T. Warfield.3 Trademarks and Trade Names 4.3 Non-financial assets/non-financial liabilities – nature and example 3. John Wiley and Sons Australia. classification.2. analyze and write the business case. classes.1. Inc. Inc. Concepcion. nature.1.4. Fundamental of Intermediate Accounting (12th Edition). 32. (2010). 2 and 3. Stice and Stice.2 Categories of financial assets and liabilities 3. 5 . Intermediate Accounting (Based on PFRS/IFRS) Volumes 1. Robles. and disclosure 3. 28.6 Computer Software Costs 4.3 Held-to-maturity 3. John Wiley and Sons Australia Ltd.3 Investment in Associates 3. Ltd.2 Copyright 4. Ledesma.5 Goodwill 4. PFRS 7.1 Definition of financial instruments – nature and examples of financial assets and liabilities 3.1 Nature.UNIT 3: ACCOUNTING FOR INVESTMENTS IN EQUITY AND DEBT INSTRUMENTS LO1 3.1 Definition. REFERENCES: Kieso. measurement.4 Investment in Debt Instruments 3.3.2. Fargher.1. Terry. Intermediate Financial Reporting: An IFRS Perspective . purpose. (2011). Ma.1. and Peralta.2 Unquoted Equity Securities 3. and present the group report. recognition. (2012). Skousen.
dress code. 3rd floor. A quiz will cover specific topics and is good for 1. Please observe office hours and consultation hours/schedule of the faculty member. Specific class policies on attendance. The written reports must be submitted not later than 5 pm of the deadline date. covers the entire course syllabus and is good for three (3) hours. North Wing. It is the responsibility of the student to be mindful of his/her absences/tardiness and performance in class. 4. make-up quizzes. A total of 4 departmentalized quizzes will be given in this course. 5. La Salle Building. There is no midterm examination. 10.0 in this course may qualify for Module 3.com • http://iasb.org CLASS POLICIES: 1. 7.iasplus. 12. Important announcements will be posted on the Accountancy Department bulletin board. 8. For all other inquiries.wileyplus. students are expected to observe silence. 6.5 hours. 2. Only BSA students who passed the qualifying examination are qualified to take this course. 3rd floor. La Salle Building. please set an appointment with the Department Vice Chair. classroom management. please visit the Accountancy Department. Room 324. and maintain the cleanliness and orderliness of the room. and others not mentioned above.com • http://www. Deadline of submission as well as the schedule of report presentation will be included in these guidelines. A contract called ‘Policies and Procedures for Incoming Modular BSA Students’ is given at the start of the term.ifrs. The Accountancy Department is located at St. academic honesty. May 2012 6 . This course is a prerequisite to Module 3.ONLINE RESOURCES: • http://www. St. 3. The assignment portfolio shall be written in a 2-column journal notebook. grading system. 11. For student concerns regarding the BSA program or the course. This is given on the last day of the module and includes a combination of multiple choice theory and problem solving questions.com • http://www. Only students who obtained a final grade of 2. The comprehensive examination is departmental. The notebook shall be checked every quiz day. are to be discussed by the faculty member on the first day of classes. 9. When inside the Department. Guidelines regarding the business case would be given by the faculty member to the class at least one week prior to submission deadline.
This action might not be possible to undo. Are you sure you want to continue?
We've moved you to where you read on your other device.
Get the full title to continue reading from where you left off, or restart the preview.