University Of San Agustin Document No.

USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 1 of 12
Page No.

COURSE SYLLABUS FOR PrE 6 Accounting for Special Transactions

VISION: A premier academic community of life-long learners MISSION: The University of San Agustin is an Augustinian, AUGUSTINIAN GRADUATE ATTRIBUTES
working with one mind and one heart to search for, discover Catholic and Filipino educational institution that aims to form An Augustinian graduate is:
and share the Truth (Gaudium de Veritate) for the promotion the members of its academic community in Virtus et Scientia ➢ A transformative community builder oriented towards
of authentic human and societal development. to serve Western Visayas, the Philippines and the world. God.
➢ A restless critical and creative thinker.
➢ A social communicator of the Truth.
PROGRAM EDUCATIONAL OBJECTIVES (PEO) PROGRAM OUTCOMES (PO)
After 5 years, the BS Accountancy graduates shall be: By the time of graduation, the students of the Accountancy program shall have the ability to:
1. Professional accountants imbued with Augustinian values and committed A. apply knowledge and skills to successfully respond to various types of assessments (including
to ethical and sustainable development; professional licensure and certifications)
2. Practicing accountants with strong leadership and team spirit in their B. identify and describe the basic concepts that underlie each of the functional areas of business
professional work; (marketing, finance, human resources management, information technology, and strategic
management)
3. Active members and/or leaders of the Philippine Institute of Certified C. select the proper decision-making tools to critically, analytically, and creatively solve problems and
Public Accountants (PICPA) and other related professional organizations; drive results.
4. Pursuing professional competence through related work experience and D. work effectively and independently in multi-disciplinary and multi-cultural teams
Continuing Professional Development (CPD);
5. Actively involved in community service towards the improvement and E. recognize the need for lifelong learning
development of the society
F. employ technology as a business tool in capturing financial and non-financial information,
generating reports and making decisions.
G. resolve business issues and problems, with a global and strategic perspective using knowledge and
technical proficiency in the areas of financial accounting and reporting, cost accounting and
management, accounting and control, taxation, and accounting information systems.
H. communicate effectively both in oral and written form
I. conduct accountancy research through independent studies of relevant literature and appropriate
use of accounting theory and methodologies.
J. confidently maintain a commitment to good corporate citizenship, social responsibility and ethical
practice in performing functions as an accountant
K. preserve and promote “Filipino historical and cultural heritage”. RA 7722
L. demonstrate an understanding of fundamental Augustinian values in relation to their profession.
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 2 of 12
Page No.

This course deals with specialized accounting problems likely

to be encountered by accountants. It exposes the learners to
Accounting for accounting for transactions and activities that relate to
Course Title Special Course Description Course PrE 6 Credit Units 3
business organizations other than the corporate form. The Code
Transactions study of the various topics in this course is based upon
fundamental valuation accounting and accounting theory as
applied to special income and expense recognition methods.

Course Prerequisite AE 17 Course Level Third

Course outcomes: At the end of the course, the students shall be able to: PO Code Link(s)
CO 1. Solve problems by applying the appropriate accounting principles and recognition criteria in accounting for partnership a c g
formation, operations, dissolution, and liquidation
CO 2. Discuss the accounting process for joint arrangements. a c g
CO 3. Apply the revenue principles in accounting for installment sales and long-term construction contracts. a c g
CO4. Account for franchise operations. a c g
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 3 of 12
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MIDTERM

Module Topic CO Learning Outcomes Teaching & Learning Activities Assessment Weight in % to
Links Tasks MT GRADE
M1. Partnership: Basic Considerations and At the end of this module, the student will be able
Formation to:

A. Definition and Characteristics of a 1. Identify the characteristics of the partnership Online Chat, Online 20%
Partnership form of business organization. Web-based activities activities/
a. Definition of Partnership 2. Explain the accounting entries for the Lecture Videos, assignments
b. Characteristics of a Partnership formation of a partnership. Problem Solving Quizzes
c. Advantages & Disadvantages Online Class Presentation Term Exam
d. Partnership Agreement 1

B. Accounting for the Formation of a

Partnership
a. Sole Proprietors and Another
Individual from a Partnership
b. Two Proprietorship Form a
Partnership

M2. Partnership Operations At the end of this module, the student will be able 20%
1 to:
A. Division of Profits and Losses
B. Financial Statements for a Partnership a. Determine the proper distribution of Online Chat, Online
partnership profits and losses among the Web-based activities activities/
partners. Lecture Videos, assignments
b. Journalize entries involved in profit or loss Problem Solving Quizzes
distribution Online Class Presentation Term Exam
c. Prepare and present properly the
financial statements of a partnership
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 4 of 12
Page No.

M3. Partnership Dissolution At the end of this module, the student will be able
20%
A. Causes of Partnership Dissolution to:
1. Admission of a new partner/s
2. Withdrawal or retirement of a. Determine the causes of partnership Online Chat, Online
partner/s dissolution. Web-based activities activities/
3. Death, Incapacity, and insolvency 1 b. Account for the effects of partnership Lecture Videos, assignments
of partner/s dissolution on the partnership equity. Problem Solving Quizzes
4. Incorporation of Partnership Online Class Presentation Term Exam
B. Accounting for the effects of
partnership dissolution on partnership
equity.

M4. Partnership Liquidation At the end of this module, the student will be able
A. Procedures of Partnership Liquidation to:
B. Types of Partnership Liquidation
1. Lump-sum liquidation a. Enumerate the procedures in partnership Online Chat, Online
20%
2. Installment liquidation liquidation Web-based activities activities/
1
C. Preparation of Statement of Liquidation b. Journalize the entries pertinent to lump- Lecture Videos, assignments
1. Schedule of Safe Payments sum and installment liquidation Problem Solving Quizzes
2. Cash Priority Distribution c. Prepare the Statement of Liquidation with Online Class Presentation Term Exam
supporting schedules

M5. Joint Arrangements At the end of this module, the student will be able
A. Definition of Joint Arrangements to:
B. Classification of Joint Arrangements 20%
1. Joint operations a. Define a joint arrangement and state its Online Chat, Online
2. Joint venture characteristics. Web-based activities, activities/
2
C. Accounting for Joint Operations b. Identify whether a joint arrangement Lecture Videos, assignments
D. Accounting for Joint Ventures constitutes a joint operation or a joint Problem Solving Quizzes
venture. Online Class Presentation Term Exam
c. Account for joint operations.
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 5 of 12
Page No.

FINALS

Module Topic CO Learning Outcomes Teaching & Learning Activities Assessment Weight in % to
Links Tasks FL GRADE
3
M6 Accounting for Installment Sales At the end of this module, the student will be able 35%
A. Definition, Nature and Characteristics to:
of Installment sales Online Chat, Online
B. Method of Accounting 1. State the applicability of the “installment sales Web-based activities, activities/
C. Procedures in Calculating Gross Profit method” of recognizing revenues. Lecture Videos, assignments
D. Financial Statement Preparation 2. Apply the “installment sales method” of Problem Solving Quizzes
E. Special Problems involved in recognizing revenues. Online Class Presentation Term Exam
Installment Sales Accounting
a. Defaults and Repossessions
b. Trade-Ins
c. Interests and Unpaid balances

M7 Accounting for Long-term
Construction Contracts
A. Nature of Construction Business
B. Definition of Terms and accounts used
C. Method of Accounting for construction
Contracts
1. Percentage of completion method
2. Completed contract method
D. Preparation and Presentation of
Financial Statements
At the end of this module, the student will be able
to: 35%
3 Online Chat, Online
1. Apply the principles under PFRS 15 to account Web-based activities, activities/
for revenues from construction contracts. Lecture Videos, assignments
2. Compute and journalize gross profit using the Problem Solving Quizzes
percentage of completion method and Online Class Presentation Term Exam
completed contract method.
3. Differentiate the percentage of completion
method from the completed contract method
of accounting
4. Present properly the financial statements
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 6 of 12
Page No.

M8 Franchise Accounting 4 At the end of this module, the student will be able 30%
A. Franchise Fees to:
B. Revenue Recognition- Initial Franchise
Fees 1. Define a franchise contract. Online Chat, Online
C. Revenue Recognition- Continuing 2. Apply the general and specific principles of Web-based activities, activities/
Franchise Fees PFRS 15 in recognizing revenue from franchise Lecture Videos, assignments
D. Revenue Recognition- Continuing contracts. Problem Solving Quizzes
Franchise Fees – Area Franchise Fees Online Class Presentation Term Exam

Performance Standards and Evaluation System of OBA Results Final Grade Evaluation System
Term Grade
Final Rating ꞊ (Midterm Grade + End Term Grade)/2
Summative Tests 40%
Performance-based Assessment 60%
Total 100%
Prepared by: Reviewed by: Approved for Implementation:

CHRISTINE P. GAMBA, CPA, MMBM FATIMA T. PERALTA, CPA, MMBM MARIVIS A. GANGOSO, CPA, Ph.D.
2nd Semester AY 2020-2021 Academic Supervisor, Accountancy Dean, College of Commerce

LIST OF RESOURCES
PRINTED LEARNING RESOURCES WEB AND OTHER LEARNING RESOURCES
Accounting Tools. Forming a Partnership. Retrieved from
Aduana, Nick L. (2016). Partnership and Corporation Accounting (A Procedural Approach). Quezon City: C & https://www.accountingtools.com/articles/forming-a-partnership.html
E Publishing, Inc.
Partnership Formation Accounting. Retrieved from https://www.double-entry-
st
Ballada, Win Lu, Susan Ballada. (2019). Partnership and Corporation Accounting. 21 Edition. Manila: bookkeeping.com/partnership/partnership-formation-accounting/
Domdane Publishers and Made Easy Books.
Partnership Formation. Journal Entry. Retrieved from
Dayag, Antonio J. (2019). Advanced Financial Accounting and Reporting (Theories & Problems). 2017 C.M. https://xplaind.com/973313/partnership-formation
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 7 of 12
Page No.

Recto Ave.: GIC Enterprises & Co., Inc.
Guerrero, Pedro P. (2017). Practical Accounting 2 – CPA Examination –A Comprehensive Review and
Procedural Approach. 2017 CM. Recto Ave.: GIC Enterprises & Co., Inc.
Guerrero, Pedro, Jose Peralta. (2017). Advanced Accounting Principles and Procedural Applications Volume 1.
Manila: GIC Enterprises & Co., Inc. C.M Recto Avenue.
uerrero, Pedro
Mejorada, Nenita D. (2015). Advanced Accounting Part 1. Makati, Metro Manila : Goodwill Trading Co.,Inc.
Mr. Accounting. AFAR Partnership Formation. Retrieved from
https://youtu.be/kThr365GG5I
Filipino Accounting Tutorial. Partnership Formation- Sole Proprietor and an
Individual. Retrieved from https://www.youtube.com/watch?v=70GG7rfwgo4
Filipino Accounting Tutorial. Partnership Formation- Individuals with No Existing
Business. Retrieved from https://www.youtube.com/watch?v=oh6gewWpt80
Mr. Accounting. AFAR Partnership Operation Retrieved from
https://www.youtube.com/watch?v=1X7XP0wWOPA

Palma, Roberto. (2014). Basic Accounting 2: Partnership and Corporation. First Edition. Manila: Rex Book Filipino Accounting Tutorial. Partnership Operations-Division of Profit to Partners
Store, Inc. (Part1). Retrieved from https://www.youtube.com/watch?v=8FZpNqfMrsw

Philippine Accounting Standards (PAS), Philippine Financial Reporting Standards ( PFRS), International Filipino Accounting Tutorial. Partnership Operations-Division of Profit to Partners
Financial Reporting Standards (IFRS). (Part 2). Retrieved from https://www.youtube.com/watch?v=4S6UA8JacGE
ompilation of
Filipino Accounting Tutorial. Partnership Operations-Division of Profit to Partners
(Part 3).https://www.youtube.com/watch?v=GefGzR0jHqs

Filipino Accounting Tutorial. Partnership Profit Distribution- Multiple Basis (Part1).

Retrieved from https://www.youtube.com/watch?v=XJZXz7oJe0E

Dissolution of Partnership: Meaning, Definition, Example. Retrieved from

https://byjus.com/commerce/dissolution-of-partnership/

Dissolution vs Termination of Partnership. Retrieved from

https://smallbusiness.chron.com/dissolution-vs-termination-partnership-31021.html

Mr. Accounting: AFAR: Partnership Dissolution. Retrieved from

https://www.youtube.com/watch?v=EcUWQb3YFH8

Filipino Accounting Tutorial. Partnership Dissolution: Purchase of Interest. Retrieved

from https://www.youtube.com/watch?v=dL_xsGT7FaU

Letstute Accountancy. Dissolution of Partnership Firm. Retrieved from

https://www.youtube.com/watch?v=UV5QDV4HYIM
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 8 of 12
Page No.

Partnership Liquidation. Retrieved from

https://www.coursehero.com/sg/principles-of-accounting/partnership-liquidation/

Farhat’s Accounting Lectures. Introduction to Partnership Liquidation. Retrieved from

https://www.youtube.com/watch?v=rIf5ou1SJVo

Mr. Accounting. AFAR: Partnership Liquidation (Lump Sum). Retrieved from

https://www.youtube.com/watch?v=h2JlOKSRuHg

Mr. Accounting. AFAR: Partnership Liquidation (Installment). Retrieved from

https://www.youtube.com/watch?v=h2JlOKSRuHg

Executive Finance. Advanced Accounting: Joint Arrangements. Retrieved from

https://www.youtube.com/watch?v=u9zG-UpcAdU

Open Tuition. Joint Arrangements (IFRS 11). Retrieved from

https://youtu.be/EFERTdQ_x_o

Open Tuition. Joint Arrangements Example. Strategic Business Reporting. Retrieved

from https://youtu.be/WWa_Tw2LeTo

Mskem’s Accounting Corner. AFAR: Joint Arrangements. Retrieved from

https://www.youtube.com/watch?v=gvedqsQd8f8

FAR: Accounting for Installment Sales. Retrieved from

https://xplaind.com/118134/installment-method

Edspira. Installment Sales Method. Retrieved from

https://www.youtube.com/watch?v=20-dmaY_HhU&lc=Ugg_ha6yL8urIXgCoAEC

Farhat’s Accounting Lectures, Installment Sales Method. Revenue Recognition.

Retrieved from https://www.youtube.com/watch?v=oljGzAhFYMA

Farhat’s Accounting Lectures, Installment Sales Method.Intermediate Accounting.

Retrieved from
https://www.youtube.com/watch?v=IVeLEcaa0X0
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 9 of 12
Page No.

Installment Method of Revenue Recognition. Retrieved from

https://www.brainscape.com/flashcards/far-accounting-installment-sales-gross-pr-
3721841/packs/4318679

Mr. Accounting. AFAR: Installment Sales. Retrieved from

https://www.youtube.com/watch?v=nEmw2UYANHM

Mr. Accounting. AFAR: Franchise Accounting. Retrieved from

https://www.youtube.com/watch?v=eU7v_hzUCiY

Farhat’s Accounting Lectures. Accounting for Franchise Revenue. Retrieved from

https://www.youtube.com/watch?v=lLlHKopSjAY
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 10 of 12
Page No.

Class Discussion Participation Rubric

Criteria Weight Exemplary Effective Minimal Unsatisfactory

 Contributes to class activities by
offering quality ideas and asking
appropriate questions on a
Level of regular basis
Engage 50%  Actively engages others in class
ment discussions by inviting their
comments
 Constructively challenges the
accuracy and relevance of
statements made
 Effectively identifies and
summarizes main points
 Always prepared for class with
assignments and required
Prepared 25% materials
ness  Accurately expresses
foundational knowledge
pertaining to issues raised during
the discussion
 Consistently positive, cooperative
Attitude 25% attitude during class
 Always supportive of other
students’ ideas
 Contributes to class activities by
offering ideas and asking
questions on a regular basis
 Often engages others in class
discussions by inviting their
comments
 Challenges the accuracy and
relevance of statements made
 Identifies and summarizes main
points
 Usually prepared with
assignments and required
materials
 Expresses basic foundational
knowledge pertaining to class
discussions
 Usually positive and cooperative
with classroom projects and
discussions
 Often supportive of other
students’ ideas
 Occasionally
contributes to class activities
by offering ideas and asking
questions
 Sometimes engages
others in class discussions
 Sometimes has an
understanding of main points
 Identifies and summarizes
some of the main points
 Seldom prepared with
assignments and required
materials
 Expresses limited foundational
knowledge pertaining to class
discussions
 Seldom actively participates in
classroom projects and
discussions
 Sometimes supportive of other
students’ ideas
 Fails to contribute to class
activities
 Fails to invite
comment/opinions from other
students
 Demonstrates little
understanding of main points
 Does not identify or
summarize main points
 Consistently unprepared for
class
 Expresses no relevant
foundational knowledge
 Rarely if ever participates in
classroom projects and
discussions
 Occasional disruptive
behavior
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 11 of 12
Page No.

Online Class Presentation Rubric

Criteria Wei Exemplary Effective Minimal Unsatisfactory

ght 5 4 3 2
Introduction Student delivers open and closing Student displays clear introductory Student clearly uses either Student does not display clear
and Closure 25% remarks that capture the attention of and closing remarks introductory or closing remark, but introductory or closing remarks
the audience and set the mood not both
Pacing 25% Delivery is well-organized and Delivery is patterned but does not Delivery is in bursts and does not Delivery is either too quick or
student meets apportioned time meet apportioned time interval meet apportioned time interval too slow to meet apportioned
interval time interval
Student displays relaxed and self- Makes minor mistakes, but quickly Displays mild tension; has trouble Tension and nervousness are
Poise 25% confident about self, with no recovers from them displays in recovering from mistakes obvious; has trouble in
mistakes relaxed and self-confident about recovering from mistakes
self, with no mistakes; displays little
or no tension
Voice 25% Use of fluid speech and inflection Satisfactory use of inflection, but Display some level of inflection Consistently uses a monotone
maintain the interest of the audience does not consistently use fluid throughout delivery voice
speech
 University Of San Agustin Document No. USA-COC-SYL-PrE6 (Lec)
Revision No. 02
College of Commerce Date of Effectivity January 28,2021
General Luna St., Iloilo City Issued by COC
Page 12 of 12
Page No.

Group Project Rubric

Criteria Weight Exemplary Effective Minimal Unsatisfactory

5 4 3 2
All materials and information are Most materials are neat and most Some materials are neat and No movement or descriptive
Organization 25% neat and easy to understand information is easy to understand some information is easy to gestures
understand
Subject area mastery is Subject undertaking is Basic understanding of subject End result project demonstrates
Content 25% demonstrated through end result demonstrated through end result area material is met through end lack of
project project result project understanding of subject area
Each group member made Most group members contributed Some group members contributed Few group members contributed
Teamwork 25% contributions to project materials to project materials and to project materials and to project material and
and presentation presentation presentation presentation
Information is presented with Information is presented with Information is presented with Information is unclear or lacking
Presentation 25% knowledge and creativity acceptable knowledge and limited knowledge and creativity and is presented with little
creativity creativity