Vision: “Truth and Goodness in Man and for Mission: Produce, through responsive curriculum, morally upright, committed

through responsive curriculum, morally upright, committed and

all others through Education” competent graduates capable of meeting the growing human resources needs in the
profession, government, business, industry and home.
Tomas del Rosario College
City of Balanga
College Department

Course Code: Acctg 3a

Course Title: Financial Accounting & Reporting, Part 1

I. Course Description: This course introduces the nature, functions, scope and limitations of the broad field of accounting theory. It deals with the study of the theoretical accounting framework
objectives of financial statements, accounting conventions and generally accepted accounting principles, 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 the detailed discussion, appreciation and application of accounting principles covering the assets, financial and non-
financial. Emphasis is given on the interpretation and application of theories of accounting relating to cash, temporary investments, receivables, inventories, prepayments, long-term
investments, property, plant and equipment, intangibles and other assets, including financial statement presentation and disclosure requirements. The related internal control, ethical issues, and
management of assets are also covered. Exposure to computerized system in receivables, inventory and lapsing schedules is a requirement in this course.
II. Course Credits: 6 units
III. Course General Objectives: To be able to understand accounting for assets

Teacher- Learner Assessment Methods/

Time Frame Topics Intended Learning Outcomes
Activities Tasks

 3 hours  New Conceptual Framework  Understand the point of accounting and  Discussion  Assignment
 3 hours  Financial Statements who needs it  Board activities  Recitation
 Explore the fundamental accounting  Board works
principles  Quizzes
 Become familiar with the accounting
equation
 Examine the four basic GAAP - Generally
 3 hours Accepted Accounting Principles
 1.5 hours  Consider different forms of business
 6 hours  Cash and cash equivalents organization
 Bank reconciliation  Examine the internal control system
 3 hours  Proof of cash  Understand bank reconciliation and related
 1.5 hours journal entries
 3 hours  Accounts receivable  Learn how to use a budget to manage cash
 3 hours  Notes receivable  Learn how to report cash on the balance  Preliminary
 3 hours  Loan receivable sheet Examination
 3 hours  Receivable financing  Account for receivables and bad debts
 Inventories  Account for notes receivable, loans
receivables and receivable financing

 Identify the costs includible as inventories

Vision: “Truth and Goodness in Man and for Mission: Produce, through responsive curriculum, morally upright, committed and
all others through Education” competent graduates capable of meeting the growing human resources needs in the
profession, government, business, industry and home.
Tomas del Rosario College
City of Balanga

 1.5 hours  Inventory valuation  Understand inventory and periodic and  Discussion  Assignment
 1.5 hours  Biological assets perpetual inventory systems  Board activities  Recitation
 1.5 hours  Inventory estimation  Become familiar with the cost of goods  Board works
sold methods  Quizzes
 Explore inventory costing methods and
accounting principles
 Understand gross profit percent and
 6 hours  Financial assets at fair value inventory turnover concepts
 3 hours  Investment in equity securities  Know when and how to estimate inventory
 3 hours  Investment in associates  Examine inventory cost flow examples
 3 hours  Financial asset at amortized cost  Explain perpetual system
 3 hours  Investment property  Account for different types of investments
 1.5 hours  Fund and other investments  Midterm
 6 hours  Derivatives Examination
 3 hours
 6 hours  Property, plant and equipment  Understand plant assets  Discussion  Assignment
 1.5 hours  Government grant  Determine the cost of plant assets  Board activities  Recitation
 1.5 hours  Borrowing costs  Learn depreciation methods  Board works
 6 hours  Land, building and machinery  Understand partial year depreciation  Quizzes
 3 hours  Depreciation  Know how to change the useful life of a
 3 hours  Depletion plant asset
 3 hours  Revaluation  Become familiar with the disposition of a
 3 hours  Impairment of assets plant asset
 1.5 hours  Intangible assets  Explain depletion and natural resources
 3 hours  Specific intangible assets  Explain intangible assets and amortization  Final Examination
 1.5 hours  Research and development costs
 3 hours

Prepared by: Recommending approval: Approved by:

Christine Joyce R. Berganio Jefferson Triguero Marina B. Santos, Ed. D. Mercedes G. Sanchez, Ed. D.
Instructor Department Chair College Dean Vice President for Academics,
Student Affairs and Extension Services