Republic of the Philippines

RIZAL TECHNOLOGICAL UNIVERSITY

Cities of Mandaluyong and Pasig

COLLEGE OF BUSINESS AND ENTREPRENEURIAL TECHNOLOGY

COURSE SYLLABUS

RTU MISSION I. COURSE BACKGROUND

To develop globally competitive and socially responsible professionals Program Bachelor of Science in Accountancy
through technology-driven instructions, innovative researches, sustainable
extension programs that will enhance the lives of people in the communities.
Course Title Accounting for Special Transactions
RTU VISION
Course Code AC14 Course Credit 3.0 Units
A leading technology-driven university responsive to the development needs Contact Hours 4.5 Hours Lecture
of changing societies. Pre-requisite AC10&11: Intermediate Accounting Part 2

RTU PHILOSOPHY Co-requisite AC13: Intermediate Accounting Part 3

The Rizal Technological University believes in nurturing the creative potentials Semester First Academic Year 2020-2021
of Filipinos to excel in a dynamic world order and advocates commitment to Created September 2020 Updated
global peace and sustainable development along with a sense of moral Instructor/
Thomas Edison R. Aviles
responsibility and cultural patronage. Professor
Department Accountancy
RTUCdf9
CORE VALUES
II. COURSE DESCRIPTION
The RTU shall uphold the following shared values: consistency, honesty,
accountability, notability, good governance and empowerment. Entities provide variety of goods and services and operate under different business forms
and structures, based on their need for survival and continuous growth and expansion.
COLLEGE GOALS
This course provides the learners comprehensive discussion and application of
To produce business professionals and entrepreneurs with skills, knowledge, appropriate revenue recognition principles based on their product lines and special
abilities and work attitudes ready to the challenges of competitive business world. revenue-producing transactions. The course explores the requirements of the financial
reporting standards relating to long-term construction contracts, commercial franchise
To prepare young men and women in the field of business and industry, operations, consignment arrangements, provisions of product warranties and
making them aware of their worthwhile contributions to the economy and society guarantees, special customer-financing transactions, service contracts and
as well as their ethical and social responsibilities. 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 statements.

Learners are expected to prepare the necessary journal entries to recognize the above
special transactions and present their effects in the entity’s financial statements.

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III. COURSE OUTCOMES
1. Explain the basic accounting concepts, principles and reason behind the PFRS governing special transactions.
2. Apply specific standards to recognize and measure special business transactions.
3. Evaluate the performance of the organization and the managers in practical cases/problems.
4. Determine the account balances at the end of the period for preparing financial statements.
5. Prepare financial statements including the required disclosures in notes to financial statements.

IV. LEARNING PLAN

Distance Learning-Based
Distance Learning-Based Teaching-Learning Activities,
Week Learning Outcomes Content/Topic Output/ Requirement
Assessment Tasks and Tools Educational Technology,
and Instructional Materials

LO1: Explain the Online Discussion Orientation, Goal Setting and Planning University Handbook Exercise
University’s vision PowerPoint Presentation - University vison and mission University Calendar
and mission. - Distance learning policies Syllabus
LO2: Explain the distance - Goal setting and course planning
learning policies,
1
the topics to be
discussed, and the
timeline for
discussions and
activities.

LO1: Describe the Online Discussion Topic 1: Corporate Liquidation Textbook Formative Assessment:
accounting for PowerPoint Presentation Word/Excel/PDF Files - Assignment
corporate Online Lecture Videos 1.1 Statement of Affairs Laptop - Exercises
liquidation. Modules 1.2 Deficiency Statement Smartphone - Recitation
LO2: Prepare Statement 1.3 Statement of Realization and
of Affairs and other Liquidation Summative Assessment:
related reports. 1.4 Determination of the order of - Quiz
2 LO3: Differentiate the priority of claimants of company - Midterm
classifications of assets subject to liquidation Examination/
liabilities in the Requirement
Statement of Affairs.

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 LO1: State the Online Discussion Topic 2: Installment Sales Textbook Formative Assessment:
applicability of the PowerPoint Presentation Word/Excel/PDF Files - Assignment
installment sales Online Lecture Videos 2.1 Recognition of gross profit – Laptop - Exercises
method of Modules regular sales versus installment Smartphone - Recitation
3 recognizing sales
revenues. 2.2 Default and Repossession and Summative Assessment:
LO2: Apply the Trade-in merchandise - Quiz
installment sales 2.3 PAS 18 / PFRS 15 - Midterm
method. 2.4 Financial Statement Presentation Examination/
Requirement

LO1: Apply PFRS 15 to Online Discussion Topic 3: Long-term Construction Textbook Formative Assessment:
account for PowerPoint Presentation Contracts (PAS 11 / PFRS 15) Word/Excel/PDF Files - Assignment
revenues from and Online Lecture Videos Laptop - Exercises
costs of Modules 3.1 Journal entries and determination Smartphone - Recitation
construction of revenue, costs and gross profit
contracts. 3.1.1 Percentage of Summative Assessment:
LO2: Account for Completion - Quiz
onerous 3.1.1.1 The proportion - Midterm
construction that contract Examination/
contracts. costs incurred for Requirement
LO3: Account for work performed to
changes in the date bear the
transaction price of estimated total
4-5 a construction contact costs;
contract. 3.1.1.2 Surveys of work
LO4: Account for performed; or
uncertainty in the 3.1.1.3 Completion of a
collectability of physical
contract revenue. proportion of the
contract work
3.1.2 Cost Recovery Method
3.2 Gross amount due from / to
customers
3.3 Financial Statement Presentation
3.4 Accounting for SME

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 LO1: Define a franchise Online Discussion Topic 4: Franchise Operations – Textbook Formative Assessment:
contract. PowerPoint Presentation Franchisor’s point of view (PAS 18 / PFRS Word/Excel/PDF Files - Assignment
LO2: Apply the general Online Lecture Videos 15) Laptop - Exercises
and specific Modules Smartphone - Recitation
principles of PFRS 15 4.1 Journal entries and determination
in recognizing of revenue, costs and gross profit Summative Assessment:
revenue from 4.1.1 Initial Franchise Fee (use of - Quiz
franchise contracts. accrual method, - Midterm
installment sales method Examination/
and cost recovery Requirement
method)
5-6
4.1.2 Continuing Franchise Fee,
Bargain Purchase Option,
and Commingled
Revenue
4.1.3 Repossessed Franchise
4.1.4 Option to Purchase the
Franchise Outlet
4.2 Gross amount due from / to
customers
4.3 Financial Statement Presentation
4.4 Accounting for SME

LO1: Define a Online Discussion Topic 5: Consignment Sales (PAS 18 / Textbook Formative Assessment:
consignment PowerPoint Presentation PFRS 15) Word/Excel/PDF Files - Assignment
arrangement. Online Lecture Videos Laptop - Exercises
LO2: Apply the principles Modules Smartphone - Recitation
of PFRS 15 in
recognizing Summative Assessment:
revenue from a - Quiz
consignment - Midterm
arrangement. Examination/
6 Requirement

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 LO1: Account for Online Discussion Topic 6: Accounting for Home Office, Textbook Formative Assessment:
transactions PowerPoint Presentation Branch and Agency Transactions Word/Excel/PDF Files - Assignment
between a home Online Lecture Videos Laptop - Exercises
office and its Modules 6.1 Transactions on the books of the Smartphone - Recitation
branch. home office and the branch
LO2: Reconcile 6.2 Reconciliation of reciprocal Summative Assessment:
interoffice accounts - Quiz
accounts. 6.3 Preparation of individual and - Midterm
7-8
LO3: Prepare combined combined financial statements Examination/
financial statements 6.4 Special procedures in home Requirement
of a home office office and branch transactions
and its branch. (inter-branch transfer of cash and
LO4: Differentiate merchandise at cost or at billed
branch and price)
agency. 6.5 Accounting for agency
transactions

8 Midterm Examination/Requirement

LO1: Record import and Online Discussion Topic 7: Foreign Currency Transactions Textbook Formative Assessment:
export transactions. PowerPoint Presentation Word/Excel/PDF Files - Assignment
LO2: Determine the Online Lecture Videos 7.1 Without Hedging Activities Laptop - Exercises
foreign transaction Modules (import, export, lending, and Smartphone - Recitation
gain or loss. borrowing transactions)
LO3: Explain the nature 7.2 Hedging Activities: Hedging Summative Assessment:
and classification of Foreign Currency Exposures - Quiz
financial 7.2.1 Foreign Currency Forward - Final
derivatives. Contracts Examination/
7.2.1.1 Hedges where Requirement
Hedge
Accounting is not
9 Required
(undesignated
hedges)
7.2.1.2 Hedges that
require a Hedge
Accounting
7.3 Accounting for SME

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 LO1: State the valuation Online Discussion Topic 8: Partnership Accounting Textbook Formative Assessment:
of contributions of PowerPoint Presentation Word/Excel/PDF Files - Assignment
partners. Online Lecture Videos 8.1 Nature, scope and objectives of Laptop - Exercises
LO2: Account for the Modules partnership accounting Smartphone - Recitation
initial investments of 8.2 Formation
the partners to the 8.3 Operations Summative Assessment:
partnership. 8.4 Dissolution / changes in - Quiz
LO3: State the peculiar ownership interest - Final
accounts used in a 8.4.1 Admission of a new Examination/
partnership and partner Requirement
identify the 8.4.1.1 By purchase of
transactions that interest
affect these 8.4.1.2 By investment
accounts. 8.4.2 Withdrawal, retirement or
LO4: State the items that death of a partner
affect the division 8.4.3 Incorporation of a
of partnership’s partnership
profits or losses 8.5 Liquidation
among the 8.5.1 Lump-sum method
partners. 8.5.2 Installment method
LO5: Compute for the
10-11 share of a partner in
the partnership’s
profit or loss.
LO6: Explain the causes
of partnership
dissolution.
LO7: Account for the
effects of
partnership
dissolution on the
partnership equity.
LO8: State the order of
priority in the
settlement of claims
in cases of
liquidation.
LO9: Account for the
liquidation of a
partnership.

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 LO1: State the scope Online Discussion Topic 9: Other Special Topics (Basic Textbook Formative Assessment:
and applicability of PowerPoint Presentation Knowledge) Word/Excel/PDF Files - Assignment
PFRS 17. Online Lecture Videos Laptop - Exercises
LO2: Define an insurance Modules 9.1 Accounting for insurance Smartphone - Recitation
contract. contracts by insurers (PFRS 4)
LO3: Describe the level 9.2 Accounting for build, operate & Summative Assessment:
of aggregation and transfer (PFRIC 12) - Quiz
measurement of - Final
12 insurance Examination/
contracts. Requirement
LO4: Define a “build-
operate-transfer”
(BOT) arrangement
that is within the
scope of the PFRSs.
LO5: Account for BOT
arrangements.

13 Final Examination/Requirement

V. COURSE REQUIREMENTS/OUTPUT VI. GRADING SYSTEM

Major Examination/Requirement 25%
Exercises and Quizzes 25%
Recitation/Class Participation 20%
Final examination/requirement.
Assignment and Project 20%
Attendance and Behavior 10%
Total 100%

VII. REFERENCES and OPEN EDUCATIONAL RESOURCES (OER)

Accounting for Special Transactions by Millan Other Suggested Readings:
Advanced Financial Accounting and Reporting by Dayag Philippine Financial Reporting Standards
Advanced Accounting by Guerrero

VIII. DISTANCE LEARNING POLICIES

1. Dress properly like in a normal class setting.
2. Actively participate in the online activities.
3. You will be given opportunity to raise your questions and concerns during the online meetings.
4. If for any reason you cannot participate in the online activities, inform the instructor ahead of time and not on the day/time of the actual activity.
5. You are expected to do advanced reading before each discussion since we have limited time to conduct online meetings.
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IX. CONSULTATION SCHEDULE
Day Monday Tuesday Wednesday Thursday Friday
Hour 09:00A – 10:00A 09:00A – 10:00A 09:00A – 10:00A 09:00A – 10:00A 09:00A – 10:00A

X. COURSE COMMITTEE
Prepared: Checked: Recommending Approval: Approved:

Thomas Edison R. Aviles Prof. John Eric Estrellado Prof. Rowell C. Marasigan Dr. Kaye Y. Opulencia
INSTRUCTOR CHAIR, CURRICULUM REVISION PROGRAM CHAIR/DEPARTMENT HEAD ACADEMIC DEAN
COMMITTEE

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