COURSE CODE: AC6 SCHEDULE: 3 HOURS PER WEEK

COURSE TITLE: INTERMEDIATE ACCOUNTING III NAME OF PROFESSOR: JHIDEO C. TOBITA

PRE-REQUISITE(S): AC4 CONTACT DETAILS
NO. OF UNITS: 3 PHONE: 0917-109-3226
EMAIL: jctobita@gmail.com

COURSE DESCRIPTION:

Intermediate Accounting deals with proper application of financial reporting framework in the preparation and presentation of
financial statements. This course entails the topics that are not covered in the previous intermediate accounting courses which includes
the corporations’ shareholders’ equity wherein the students are expected to be knowledgeable in the analyzation and computation of its
various accounts, its book value per share, and earnings per share. Moreover, this course covers the miscellaneous topics in financial
reporting such as cash and accrual basis of accounting, single entry bookkeeping, operating segment, correction of errors, accounting
changes, noncurrent assets held for sale, current cost accounting and interim reporting. Accounting for SMEs will also be tackled under
this course.

COURSE OUTCOMES:

Cognitive
1. Define a corporation and its various accounts.
2. Differentiate between basic earnings per share and diluted earnings per share.
3. Differentiate between cash and accrual basis accounting.
4. Understand the essence of PFRS 5 and its proper application.
5. Define an operating segment and understand its nature.
6. Determine and define an SME, and identify its qualifications
Psychomotor
1. Prepare the shareholders’ equity portion of a balance sheet.
2. Prepare the journal entry in reclassification of a noncurrent asset to an asset held for sale.
3. Work back the net income in single entry bookkeeping.
4. Prepare correcting journal entries and its effect in the net income and/or retained earnings.
5. Compute the accrual running balances of accounts from cash basis, and vice versa.

Affective
1. Comply with accounting standards in the preparation of financial statements.
2. Behave according to the Code of Ethics in his or her everyday life.
3. Influence others in exemplifying the Christian values he or she learned from the course.

COURSE OUTLINES

SCHEDULE/ LEARNING ASSESSMENT/

LEARNING OUTCOMES TOPICS REFERENCES
WEEKS ACTIVITIES TOOLS
WEEK 1 The students are expected to: Shareholders’  Online  Online  Materials/lect
 State the components of Equity discussions Activity ures uploaded
shareholders’ equity.  Provision of  Online Quiz online
 Account for initial issuances handouts and (referenced
of shares of stocks. other from different
 Account for the reacquisition necessary books and
and retirement of shares of materials materials
stocks. online. available).
 Account for stock rights,  Online  Intermediate
convertible preference shares problem Accounting
and donated capital. solving books
through video
presentation.
  Online
research
activities
WEEK 1 The students should be able to: Retained  Online  Online  Materials/lect
 Define retained earnings. Earnings discussions Activity ures uploaded
 Account for distribution to  Powerpoint  Online Quiz online
owners. presentation. (referenced
 Account for recapitalization  Online from different
and quasi-reorganization. research books and
activities materials
available).
 Intermediate
Accounting
books

WEEK 1 The students should be able to: Share Based-  Online  Online  Materials/lect
 Define a share-based Payments discussions Activity ures uploaded
payment transaction. (Share options)  Provision of  Online Quiz online
 State the accounting methods handouts and (referenced
applicable to share-based other from different
payment transactions with necessary books and
non-employees and materials materials
employees online. available).
 Acquire sufficient knowledge  Online  Intermediate
in computing different equity problem Accounting
settled-transactions. solving books
through video
presentation.
WEEK 1 The students should be able to: Share Based-  Online  Online  Materials/lect
  Understand and distinguish Payments discussions Activity ures uploaded
the difference between an (Share  Provision of  Online Quiz online
equity-settled share-based Appreciation handouts and (referenced
transaction and a cash settled Rights) other from different
share-based transaction. necessary books and
 Account for cash-settled materials materials
share-based payment online. available).
transactions.  Online  Intermediate
 Account for share-based problem Accounting
transactions with cash solving books
through video
alternatives.
presentation..
WEEK 2 The students should be able to: Book Value per  Online  Online  Materials/lect
 Define book value per share. Share discussions Activity ures uploaded
 Compute for outstanding  Provision of  Online Quiz online
shares. handouts and (referenced
 Enumerate and identify the other from different
classes of preference share. necessary books and
materials materials
 Develop skills on how to
online. available).
compute for the book value of
 Online  Intermediate
shares provided different problem
classifications of preference Accounting
solving books
shares are outstanding. through video
presentation.
 Online
research
activities
WEEK 2 The students should be able to: Basic Earnings  Online  Online  Materials/lect
 Define and identify the per Share discussions Activity ures uploaded
 significance of basic earnings  Provision of  Online Quiz online
per share. handouts and (referenced
 Acquire the necessary skills other from different
to compute for BEPS. necessary books and
materials materials
online. available).
 Online  Intermediate
problem Accounting
solving books
through video
presentation.
WEEK 2 The students should be able to: Diluted Earnings  Online  Online  Materials/lect
 Define and identify the per Share discussions Activity ures uploaded
significance of diluted  Provision of  Online Quiz online
earnings per share. handouts and (referenced
 Acquire the necessary skills other from different
to compute for DEPS. necessary books and
materials materials
online. available).
 Online  Intermediate
problem Accounting
solving books
through video
presentation.
WEEK 2 The students should be able to: Financial  Online  Online  Materials/lect
 Review the components of Statements discussions. Activity ures uploaded
the financial statements and 1. Statement of  Powerpoint  Online Quiz online
prepare the complete set of Comprehensiv presentation. (referenced
the said items e Income from different
2. Statement of books and
 Financial materials
Position available).
3. Statement of  Intermediate
Cash Flows Accounting
4. Statement of books
Changes in
Shareholders’
Equity
5. Notes to
Financial
Statements
WEEK 3 The students should be able to: Noncurrent Asset  Online  Online  Materials/lect
 Define disposal group. Held for Sale, discussions Activity ures uploaded
 Understand the essence of Noncurrent Asset  Powerpoint  Online Quiz online
PFRS 5 and properly apply it Held for presentation. (referenced
on a case to case basis. Distribution to  Online from different
Owners, and research
 Enumerate the requirements books and
Discontinued activities materials
or conditions to which PFRS 5
Operations available).
will apply.
 Properly reclassify and  Intermediate
measure a noncurrent asset Accounting
from its old standard to PFRS books
5.
 Compute for impairment
losses.
 Reclassify assets accounted
for using revaluation or cost
method to PFRS 5.
 Reclassify and remeasure an
 asset accounted for under
PFRS 5 to being a noncurrent
asset.
WEEK 3 The students should be able to: Accounting  Online  Online  Materials/lect
 Differentiate a prospective Changes discussions Activity ures uploaded
and a retrospective change.  Powerpoint  Online Quiz online
 Identify circumstances that presentation. (referenced
lead to a prospective  Online from different
accounting change. research books and
 Identify circumstances that activities materials
lead to a retrospective available).
change.  Intermediate
 Prepare journal entries to Accounting
account of accounting books
changes.
 Define accounting policies.
WEEK 3 MIDTERM EXAMINATION
WEEK 4 The students should be able to: Interim Financial  Online  Online  Materials/lect
 Define an interim financial Reporting discussions. Activity ures uploaded
statement and its significance.  Powerpoint  Online Quiz online
 Identify certain selected presentation. (referenced
explanatory notes in interim  Online from different
financial reporting. research books and
 Select financial statements to activities materials
be compared with the interim available).
financial statements.  Intermediate
 Properly account and Accounting
recognize books
 seasonal/occasional
revenues, uneven costs, year-
end bonuses, irregular costs,
depreciation and
amortization, paid vacation
and holiday leave, and income
taxes in the interim financial
statements
WEEK 4 The students should be able to: Operating  Online  Online  Materials/lect
 Define an operating segment. Segment discussions Activity ures uploaded
 Familiarize with the scope of  Provision of  Online Quiz online
PFRS 8. handouts and (referenced
 Memorize the criteria in other from different
order for a segment to be necessary books and
materials materials
reportable.
online. available).
 Identify information to be
 Online  Intermediate
disclosed for each segment. problem Accounting
solving books
through video
presentation.
WEEK 4 The students should be able to: Cash and Accrual  Online  Online  Materials/lect
 Differentiate cash and accrual Basis discussions Activity ures uploaded
basis accounting.  Provision of Online Quiz online
 Convert cash basis items of handouts and (referenced
financial statements to other from different
accrual basis, and vice versa. necessary books and
materials materials
online. available).
  Online  Intermediate
problem Accounting
solving books
through video
presentation.
WEEK 4 The students should be able to: Single Entry  Online  Online  Materials/lect
 Understand the concept of discussions Activity ures uploaded
single entry bookkeeping and  Provision of  Online Quiz online
identify its differences with handouts and (referenced
the double entry other from different
bookkeeping. necessary books and
materials materials
 Solve problems relating to
online. available).
single entry.
 Online  Intermediate
problem Accounting
solving books
through video
presentation.
WEEK 5 The students should be able to: Error Correction  Online  Online  Materials/lect
 Define prior period errors. discussions Activity ures uploaded
 Identify the different classes  Provision of  Online Quiz online
of financial statement errors. handouts and (referenced
 Differentiate between other from different
counterbalancing and non- necessary books and
materials materials
counterbalancing errors.
online. available).
 Prepare journal entries to
 Online  Intermediate
effect the correction of problem
errors. Accounting
solving books
through video
 presentation.
WEEK 5 The students should be able to: Hyperinflation  Online  Online  Materials/lect
 Understand the concept of discussions Activity ures uploaded
inflation and identify when  Powerpoint  Online Quiz online
PAS 29 comes into play. presentation. (referenced
 Define general and specific from different
price changes. books and
 Differentiate between materials
monetary and nonmonetary available).
items in the financial  Intermediate
statement. Accounting
books
 Familiarize and apply the
procedures for restating
items in the financial
statements in a
hyperinflationary economy.
WEEK 5 The students should be able to: Current Cost  Online  Online  Materials/lect
 Define current cost Accounting discussions Activity ures uploaded
accounting.  Powerpoint  Online Quiz online
 Identify the elements presentation. (referenced
required to apply the current  Online from different
cost accounting. research books and
activities materials
 Compute for holding gains
and losses. available).
 Compute for unrealized  Intermediate
Accounting
holding gains and losses.
books
WEEK 6 The students should be able to: Accounting for  Online  Online  Materials/lect
 Define and SME and its SMEs discussions Activity ures uploaded
qualifications. 1. Definition  Provision of  Online Quiz online
handouts and (referenced
 Understand the differences 2. Qualities and other from different
between accounting for SMEs General necessary books and
and non SMEs Features materials materials
online. available).
3. Financial
 Online  Intermediate
Statements
problem Accounting
4. Notes to solving books
Financial through video
Statements presentation.
 Powerpoint
5. Accounting presentation.
Changes  Online
research
6. Inventories activities
and Revenue
7. Basic
Financial
Instruments
8. Associate and
Investment
Property
9. Property,
Plant, and
Equipment
 including
Government
Grant and
Borrowing
Costs
10. Intangible
Assets
11. Impairment of
Assets
12. Provisions
and
Contingencies
13. Leases
14. Employee
Benefits
15. Income Tax
16. Equity and
Share-Based
Payment
17. Specialized
Activities
18. Hyperinflation
WEEK 6 FINAL EXAMINATION
GRADING SYSTEM:
A. Course Evaluation
Business Administration
Major Online Examination 30%
Online Quiz 30%
Online Activities/ Exercises 30%
Online Participation 10%
Total 100%
Base 40 100% (0=40%, 60=75%)

COURSE REQUIREMENTS
1. The students must create an account in the university’s LMS to participate in the discussions and examinations provided by
the professor. Moreover, a gadget capable of accessing the LMS and an internet connection must also be secured by the
students.
Discussion of concepts and illustrative problem solving will be done through online. Face-to-face contact or traditional
modality of instruction will not be implemented unless needed by circumstances.
 2. The students are required to take two (2) major term online examinations, namely: Midterm/Semi-Final and Final Term on
the dates scheduled. The students must submit the answers online on or before the scheduled time of submission. Reasons for
failure to take the examination must be given to the professor immediately after the examination. Only the professor can
reschedule the special examination. Failure to do such notice will automatically render the student from taking the missed
examination. Every topic in each major term shall be accumulated to compose a portion of the next term examination. This is
to help students recall and master the topics in this subject.
The instructor has the right to ask for a supporting document to justify the student’s answers or works.

3. There shall be at least two (2) online scheduled quizzes of sufficient length and competitive type per major term. All students
must submit their quiz on the date specified. However, the professor should exercise leniency on those students who could not
submit the answers on time due to valid verifiable reasons. Supplementary reading of reference books and other materials,
including research works shall be required to augment the lectures and discussions made on line.
The instructor may find it necessary to ask you to send a picture/ copy of your solutions for items that will require problem
solving.

4. Online participation from students is required during scheduled online discussions.

5. Students should read and/ or solve assigned problem materials prior to class. Online activities will be submitted as scheduled.
Past due assignments will not be accepted unless the student can validly justify such late compliance.
CLASS POLICIES:

1. Please observe proper “netiquette”

· Majority of our communication will take place on-line during discussions, please observe proper courtesy at all times.
· Other platforms for personal and private communication may be done via phone call or SMS.

2. Academic Honesty Policy

 · As an academic institution, WUP is dedicated to provide learning built on academic integrity. All submissions must be your
own work and not directly copied from an external source.
· Proper citations must be done when utilizing the work of others.
· Academic dishonesty is unacceptable and will not be tolerated at WUP.
· Cheating, forgery, dishonest conduct, plagiarism, and collusion in dishonest activities violate WUP’s educational, research, and
social roles.
· Students who knowingly or intentionally conduct or help another student engage in dishonest conduct, acts of cheating, or
plagiarism will be subject to disciplinary action.

3. Academic Discipline
· Major examinations will be given and should be submitted on a scheduled date and time. Failure to take the examinations on
time without valid reasons may result to a grade of zero on that particular examination.
· A student who fails to comply with any of the requirements or any examinations with just cause will render the student to
receive an “incomplete remarks” to his/her course.