TRESTON INTERNATIONAL COLLEGE

COURSE OUTLINE

Course Code PrE6

Course Title Accounting for Special Transactions

Lecture 54 HOURS; 4.5 hours per week x 12 weeks
Credit Units Laboratory / NONE
Studio
Couse Code
Pre-Requisite(s)
Course Title
Instructor
Undergraduate Details
Minimum Qualifications
Required Reading 1. Financial Reporting Standard Council, Compilation of Philippine Accounting Standards (PAS) / Philippine Financial
Reporting Standards (PFRS), effective 2005 and onwards.
2. Beams, Floyd A., Anthony, Joseph H., Clement, Robin P., and Lowensohn, Suzanne H., ADVANCED ACCOUNTING,
9th edition, Prentice Hall, Inc
3. Dayag, Antonio; REVIEWER IN PRACTICAL ACCOUNTING 2, 2010 edition., Conanan Educational Supply Inc.
4. Guerrero, Pedro P., and Peralta, Jose F., PRACTICAL ACCOUNTING 2, 2010 edition, GIC Enterprises & Co., Inc.
5. Horngren, Charles T., Datar, Srikant M., and Foster, George, COST ACCOUNTING: CONCEPTS and PRACTICES, 12th
edition, Prentice Hall.
SUGGESTED READINGS RELATED ONLINE
LEARNINGS
COURSE REQUIREMENTS
COURSE DETAILS
a. Course Description

Treston International College 1

University Parkway District 32nd Street Corner

C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

This course provides the learners comprehensive discussion and application of appropriate revenue recognition principles based on their product lines
and special revenue-producing transactions. The course explores the requirements of the financial reporting standards relating to long-term construction
contracts, commercial franchise operations, consignment arrangements, provisions of product warranties and guarantees, special customer-financing
transactions, service contracts and subscriptions and other ancillary transactions relating to revenue generation as well as transactions involving foreign
currencies. Transactions between home office and branch are likewise recorded and reflected in the financial
b. Pre-requisite None
Co-requisite
c. Course Classification (General Basic Core Courses
Education, Basic Core Courses,
Professional Courses, Electives, Free
Electives)
GOALS FOR THE COURSE

 Desired Course Outcomes By the end of the course the student will be able to:

 Desired Course Objectives  To prepare the necessary journal entries to recognize the above special transactions and present
their effects in the entity’s financial statements.

Treston
2 International College
University Parkway District 32nd Street Corner
C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

COURSE CONTENT

Hours
Week Learning Outcomes Topics Teaching Strategies Assessment
Lec Lab
Learn how revenue and cost are Accounting for installment sales  Group discussion  Seatwork
accounted related to installment contracts  Lecture using  Quizzes
sales contracts. audio-visual  Examination
4.5 presentation  Class
1st Participation
hrs. NA
 Assignment

Learn how revenue and cost are Long-term construction contracts  Group discussion  Seatwork
accounted related to long term  Percentage-of-completion  Lecture using  Quizzes
construction contracts. method audio-visual  Examination
presentation  Class
 Cost recovery or zero-profit
 Problem solving Participation
2nd 4.5 method
hrs. NA (board work and  Assignment
seatwork

Treston International College 3

University Parkway District 32nd Street Corner

C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

COURSE CONTENT

Hours
Week Learning Outcomes Topics Teaching Strategies Assessment
Lec Lab
Understand the franchise business Commercial franchise operations -  Group discussion  Seatwork
and the accounting treatment. point of view of franchisor  Lecture using  Quizzes
audio-visual  Examination
4.5
3rd presentation  Class
hrs. NA
Participation
 Assignment

Learn how interest are being Financial reporting of interests in joint  Group discussion  Seatwork
computed under joint venture ventures  Lecture using  Quizzes
agreement audio-visual  Examination
4.5 presentation  Class
4th NA
hrs. Participation
 Assignment

Recognize the concepts and Corporate liquidation  Group discussion  Seatwork

process of corporations related to  Lecture using  Quizzes
liquidation. audio-visual  Examination
4.5 presentation  Class
5th NA
hrs. Participation
 Assignment

Treston
4 International College
University Parkway District 32nd Street Corner
C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

COURSE CONTENT

Hours
Week Learning Outcomes Topics Teaching Strategies Assessment
Lec Lab
Understand how to account for Accounting for insurance contracts by  Group discussion  Seatwork
insurance contracts. insurers  Lecture using  Quizzes
audio-visual  Examination
4.5 presentation  Class
6th hrs. Participation
 Assignment

6th MIDTERM EXAMINATION

COURSE CONTENT

Hours
Week Learning Outcomes Topics Teaching Strategies Assessment
Lec Lab

7th 4.5 NA Develop accounting knowledge on Not-for-profit organizations  Group discussion  Seatwork
hrs. different nonprofit corporations. a. Voluntary health and welfare  Lecture using  Quizzes
organizations (VHWO) audio-visual  Examination
b. Hospitals and other health presentation  Class
care organizations Participation
c. Colleges and universities  Assignment
Treston International College 5

University Parkway District 32nd Street Corner

C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

d. Other not-for-profit
organizations such as churches,
museums, fraternity
association, etc

Develop accounting knowledge on Not-for-profit organizations  Group discussion  Seatwork

different nonprofit corporations. c. Colleges and universities  Lecture using  Quizzes
d. Other not-for-profit audio-visual  Examination
4.5 organizations such as churches, presentation
8th NA  Class
hrs.
museums, fraternity Participation
association, etc  Assignment

Identify the principles behind BOT Accounting for build-operate-transfer  Group discussion  Seatwork
accounting. (BOT)  Lecture using  Quizzes
4.5 audio-visual  Examination
9th NA
hrs. presentation  Class
Participation
 Assignment
1. Define accounting and trace the Accounting for Branch and Agency  Group discussion  Seatwork
origin and growth of accounting. Transactions  Lecture using  Quizzes
2. Distinguish between book-keeping  Transactions on the books of audio-visual  Examination
4.5 and accounting. the home office and the branch presentation  Class
10th NA 3. Explain the nature and objectives  Reconciliation of reciprocal
hrs. Participation
of accounting. accounts  Assignment
Discuss the branches, role and
limitations of accounting.
11th 4.5 NA 4. Define accounting and trace the Accounting for Branch and Agency  Group discussion  Seatwork
hrs. origin and growth of accounting.  Preparation of individual and  Lecture using  Quizzes
5. Distinguish between book-keeping combined financial statements audio-visual  Examination
and accounting. Agency transactions presentation  Class
Treston
6 International College
University Parkway District 32nd Street Corner
C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

6. Explain the nature and objectives Participation

of accounting.  Assignment
7. Discuss the branches, role and
limitations of accounting.
Learn the new government Government Accounting - New  Group discussion  Seatwork
accounting system and its impact. Government Accounting System  Lecture using  Quizzes
4.5 audio-visual  Examination
12th NA presentation  Class
hrs.
Participation
 Assignment
12th FINAL EXAMINATION

Treston International College 7

University Parkway District 32nd Street Corner

C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

GRADING SYSTEM
A. GRADE EQUIVALENCY

FINAL GRADE EQUIVALENT GRADE REMARKS

96 – 100 1.00 Excellent
93 – 95 1.25 Excellent
90 – 92 1.50 Very Good
88 – 89 1.75 Very Good
85 – 87 2.00 Good
82 – 84 2.25 Good
80 – 81 2.50 Satisfactory
77 – 79 2.75 Satisfactory
75 – 76 3.00 Passed
Conditional 4.00 Incomplete/Conditional
Below 75 5.00 Failed
FA Failure due to Absences
DRP Officially Dropped
B. TERM GRADE Attendance = 10%
Orals = 20%
Quizzes = 20%
Term Examination = 50%
TOTAL = 100%
C. TRIMESTER GRADE Midterm Grade = 50%
Pre-final Grade = 50%
TOTAL = 100%
D. CLASSROOM POLICIES A. All cellphones and gadgets should be on silent mode.
B. No Gadgets, Cellphones are allowed to be used inside the classroom.
C. Standard student behavior is expected. (Academic Honesty, Punctuality, Pro-active class participation and Mutual Respect)
*Academic Honesty includes but not limited to Honesty, Plagiarism, Cheating, Falsifications, Academic misconduct and Denying others access to information or material

Treston
8 International College
University Parkway District 32nd Street Corner
C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017
 TRESTON INTERNATIONAL COLLEGE
COURSE OUTLINE

D. Absences and Tardiness are strictly recorded. If more than allowed number of absences are met, automatic failure due to
absences will be implemented.
E. Papers (research, assignment,) must be submitted on time; all sources should be stated in APA format

E. CONSULTATION HOURS (OPTIONAL) 1 – 2 hours per week based on faculty’s availability.

Treston International College 9

University Parkway District 32nd Street Corner

C-5 Road, Bonifacio Global City Taguig, Metro Manila

Date of revision:
June 3, 2017