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ILO
Program Learning Outcomes (PLO) for Bachelor of Science in Accountancy
a b c d e f g h i j k
1. Student will be able to demonstrate competencies in the development, measurement, analysis, validation and
communication of financial and other information.
2. Student will develop oral and written communication skills and critical thinking skills.
3. Student will develop an appreciation for the role of ethics in both the profession and the business world.
4. Student will exposed to the unique aspects of global business and accounting issues.
5. Student will equipped to understand the use technology.
6. Student will exposed to activities that help them work in groups.
7. Apply knowledge and skills that enable them to successfully respond to various types of assessments (including
professional licensure examinations and certificatons)
This course is designed to introduce the students to the concepts, procedures and standards relating to business combinations and related topics. Topics discussed are: Accounting for
business combinations, consolidated financial statements, foreign exchange transactions and translation.
PRE-REQUISITE(S)
Prerequisite 1: BAFACR2X
CREDIT
3 Units
TIME ALLOTMENT
4 hours per week
COURSE REQUIREMENTS
QUIZZES (40%) CLASS STANDING (10%) PERIODIC DEPARTMENTAL EXAMINATIONS (50%)
- Minimum of 2 major quizzes per grading period 1. Recitation
2. Others: - Midterm Departmental Examination
CLASS POLICIES
1. Students are required to wear the prescribed uniform inside the school premises from Mondays through Fridays except Wednesdays. Wednesdays is a business
attire day; Saturdays and Sundays are washdays wherein students must wear dresses allowed and/or specifically instructed by the College Dean.
2. Students are required to always wear their school ID and assigned school ID lace inside the school premises.
3. Students must attend at least 80% of the total credit hours of the subject to be considered enrolled
4. Cellular phones and other electronic communication devices are to be switched off or kept in silent mode during the class hours.
5. A student who fails to take any of the two major examinations may apply for a special examination upon establishing to the satisfaction of the College Dean, through
supporting documents an incapacitating physical or mental condition, the death or serious illness of an immediate family member, or other exigencies.
6. Cheating in any form before or during an examination, test or written reports is prohibited.
GRADING SYSTEM
MIDTERM GRADE COMPUTATION: TENTATIVE FINAL GRADE COMPUTATION: FINAL GRADE:
Quizzes 40% Quizzes 40%
Class standing Class standing Midterm Grade = 40%
Attendance 5% Attendance 5% Tentative Finals Grade = 60%
Assignments 5% Assignments 5% Final Grade = 100%
Seatwork / Boardwork 10% 10% Seatwork / Boardwork 10% 20%
Periodic Examination 50% Periodic examination 40%
Midterm Grade 100% Tentative Final Grade 100%
COURSE
TOPIC LEARNING
WEEK LEARNING TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES
OUTCOMES
1 At the end of the session, the Goal Setting and Proper Planning » Discussion » Syllabus Formative
learners will be able to: - University and College vision and mission » University Assessment:
- Classroom policies Manual and » Assignment
1. Discuss the - Goal setting and course planning Handbook » Seatwork
advantages and » Recitation
disadvantages of the
partnership versus the
corporate form of Topic 1: Partnership Formation Summative
business Assessment:
2. Describe the purpose 1. Nature and classification of partnership » Pencil – Paper
of the articles of 2. Fair value/Agreed amount of non-cash assets test (Quiz &
partnership and list 3. Bonus and revaluation (goodwill) approach in partnership Midterm
specific items that formation Examination)
should be included in 4. Financial statements of partnership
this agreement 5. » Lecture » Textbook
3. Prepare the journal » Video » LCD
entry to record the Presentation Projector
initial capital Discussion » Additional
investment made by a Hand – out
partner Materials
4. Use both the bonus
method and the
goodwill method to
record a partner’s
capital investment
» »
2 At the end of the session, the Topic 2: Partnership Operations » Lecture » Syllabus Formative
learners will be able to: » Discussion » Textbook Assessment:
» Demonstration » LCD » Assignment
1. Understand the impact 1. Rules in distribution of profits and losses » Problem solving Projector » Seatwork
that the allocation of 2. Different distribution schemes as agreed upon by partners » Additional » Recitation
partnership income has (salaries, interest, bonus, etc) Hand – out » Board work
on the partners’ 3. Statement of changes in partners’ equity Materials
individual capital
balances
2. Allocate income to
Summative
Assessment:
» Pencil – Paper
test (Quiz &
Midterm
Examination)
4 At the end of the session, the Topic 4: Partnership Liquidation » Lecture » Syllabus Formative
learners will able to: » Discussion » Textbook Assessment:
1. Determine the 1. Lump sum liquidations » Demonstration » LCD » Assignment
amounts to be paid 2. Installment liquidation (schedule of liquidation) » Problem solving Projector » Seatwork
among the partners 3. Safe payment schedule » » » Recitation
in a liquidation 4. Cash priority program » Board work
2. Determine the cash
available for
distribution to
partners when one
or more partners
have become
insolvent
3. Prepare a proposed
5 At the end of the session, the Topic 5: Corporate Liquidation » Lecture » Syllabus Formative
learners will be able to: » Discussion » Textbook Assessment:
1. Classification of assets and liabilities under liquidating concern » Demonstration » LCD » Assignment
1. Identify the classes 2. Statement of affairs » Problem solving Projector » Seatwork
of creditors and the 3. Percentage recovery and estimated deficiency » » » Recitation
order of payment 4. Statement of realization and liquidation » Board work
2. Prepare statement of
affairs to determine
the estimated capital
deficiency of the
corporation
3. Estimate the amount Summative
of recovery among Assessment:
classes of creditors » Pencil – Paper
test (Quiz &
Midterm
Examination)
6 At the end of the session, the Topic 6: Revenue from contracts with customers (PFRS 15) » Lecture » Syllabus Formative
learners will be able to: » Discussion » Textbook Assessment:
1. Describe and apply 1. The five-step model of revenue recognition » Demonstration » LCD » Assignment
the five step model 2. Recognition at the point in time and over time » Problem solving Projector » Seatwork
for revenue 3. Contract asset and contract liability » » » Recitation
recognition 4. » Board work
2. Record transactions
recognizing revenue
3. Determine the
proper presentation
of contract asset and
contract liability Summative
Assessment:
» Pencil – Paper
test (Quiz &
Midterm
Examination)
7
8 At the end of the course the Topic 7: Revenue from contracts with customers (PFRS 15) » Lecture » Syllabus Formative
student should be able to: » Discussion » Textbook Assessment:
1. Other issues » Demonstration » LCD » Assignment
1. Understand the reason 2. Installment sales » Problem solving Projector » Seatwork
behind the elimination a. Recording of deferred gross profit and realized gross profit » » Recitation
entry for intra asset b. Gain or loss on repossession » Board work
sales c. Financial statement presentation
2. Prepare elimination
entry to remove
unrealized gross profit
from intra company
sale Summative
3. Determine the Assessment:
consolidated balances » Pencil – Paper
including NCI test (Quiz &
Midterm
Examination)
»
9 At the end of the session, the Topic 8: Long-Term Construction Contracts » Lecture » Syllabus Formative
learners will be able to: » Discussion » Textbook Assessment:
1. Determine the 1. Introduction to construction accounting » Demonstration » LCD » Assignment
revenues, costs and 2. Contract revenues, costs and gross profit Projector » Seatwork
gross profit from 3. Percentage of completion method » » Recitation
construction contracts 4. Cost recovery method » Board work
2. Determine the realized 5. Financial statement presentation
profit for each period
under percentage of
completion and cost
recovery method
3. Record transactions
for construction
contracts
4. Determine the
presentation of
construction contracts
in the financial
statements
Summative
Assessment:
» Pencil – Paper
test (Quiz &
Final
10 At the end of the session, the Topic 9: Franchise and Consignment Accounting » Lecture » Syllabus Formative
students will be able to: » Discussion » Textbook Assessment:
1. Franchise accounting » Demonstration » LCD » Assignment
1. Understand the a. Contract asset and liability » Problem solving Projector » Seatwork
nature of franchise b. Initial franchise fee » » » Recitation
arrangement c. Continuing franchise fee » Board work
2. Record transactions 2. Consignment accounting
for initial and a. Account sales
continuing franchise b. Consignment profit
fee c. Inventory on consignment
3. Record transactions
between consignor
and consignee
Summative
Assessment:
» Pencil – Paper
test (Quiz &
Final
Examination)
11 At the end of the session, the Topic 10: Foreign Currency Transactions » Lecture » Syllabus Formative
students will be able to: » Discussion » Textbook Assessment:
1. Import and export transactions » Demonstration » LCD » Assignment
1. Record import and 2. Foreign borrowing and lending » Problem solving Projector » Seatwork
export transactions 3. Foreign currency transaction gain or loss » » » Recitation
2. Determine the 4. Introduction to derivatives » Board work
foreign transaction
gain or loss.
3. Understand the
nature and
classification of
financial derivatives.
Summative
Assessment:
» Pencil – Paper
test (Quiz &
11 At the end of the session, the Topic 11: Hedge accounting and forward contracts » Lecture » Syllabus Formative
- learners will be able to: » Discussion » Textbook Assessment:
12 1. Import and export transactions with forward contract » Demonstration » LCD » Assignment
1. Describe a variable 2. Criteria for hedge accounting. » Problem solving Projector » Seatwork
interest entity, a 3. Measurement of effectiveness of hedge. » » » Recitation
primary beneficiary, 4. Fair value hedge » Board work
and the factors used 5. Cash flow hedge
to decide when a 6. Options
variable interest
entity issubject to
consolidation
2. Prepare
consolidated cash
flows
3. Determine the basic
and diluted EPS for Summative
consolidated entity Assessment:
» Pencil – Paper
test (Quiz &
Final
Examination)
12 At the end of the session, the Topic 12: Translation of Financial Statements » Lecture » Syllabus Formative
- learners will be able to: » Discussion » Textbook Assessment:
13 1. Distinguish 1. Functional vs presentation currency » Demonstration » LCD » Assignment
functional from 2. Monetary and non-monetary assets and liabilities » Problem solving Projector » Seatwork
presentation 3. Current method » Additional » Recitation
currency and 4. Temporal method Hand – out » Board work
monetary and non- 5. Translation of foreign subsidiary Materials
monetary assets.
2. Translate financial
statements using
current method.
3. Translate financial
statements using
temporal method.
Summative
Assessment:
» Pencil – Paper
test (Quiz &
TEXTBOOK
[1] Guerrero and Peralta, 2017, Advanced Accounting: Principles and Applications Vol 1. GIC Enterprises, Manila
[2]
REQUIRED RESOURCES
[3] Dayag, Antonio J. 2019, CPA Examination Review Manual: Advanced Financial Accounting. Review School of Accountancy, Manila
[4] Guerrero, Pedro, 2019, CPA Examination Review: Advanced Financial Accounting and Reporting. GIC Enterprises, Manila
[5] Dayag, Antonio J. 2016, Advanced Financial Accounting Vol I. Review School of Accountancy, Manila
[6]
RECOMMENDED RESOURCES
1. PFRS (2018), PICPA Northern Metro Manila Chapter, Mandaluyong City
2. Pearl Hock-Neo Tan, Peter Lip Nyean Lee, 2015. Advanced Financial Accounting: An IAS and IFRS Approach, McGraw-Hill, Singapore
3. Kieso, Weygandt, Warfield. (2019). Intermediate Accounting, IFRS Edition. John, Wiley and Sons: New Jersey.
4. Joe Ben Hoyle and Thomas Schaefer and Timothy Doupnik 2015, Advanced Accounting. 12th Edition, McGraw-Hill, New York City
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