New Era University

COLLEGE OF ACCOUNTANCY
Bachelor of Science in Accountancy

FINANCIAL ACCOUNTING & REPORTING (ACCTG01-19)

COURSE PLAN
NEU PHILOSOPHY
Godliness is the foundation of knowledge.
NEU VISION NEU GOALS
A world-class Institution of learning with 1. Impart values-laden educational leading to the total
a unique Christian culture of excellence, development of man.
discipline, and service to humanity. 2. Offer curricula responsive to the needs of the time.
NEU MISSION 3. Optimize learning through the adoption and utilization of
Provide quality education anchored on appropriate instructional methods and resource.
Christian values with the prime purpose 4. Propel institutional development through the conduct of useful
of bringing honor and glory to God. and significant researches.
NEU CORE VALUES 5. Extend outreach services which promote self-help in the
 Fear of God community.
 Competence 6. Promote access to non-conventional higher education and basic
 Discipline education programs.
7. Develop servant leaders among staff, faculty members, and
administrations.
8. Produce God-fearing, competent, and disciplined graduates.

NEU GRADUATE ATTRIBUTES NEU LEARNING OUTCOMES

1. God-fearing citizens
2. Service oriented competent people
3. Critical thinkers and problem solvers
4. Productive researchers
5. Effective communicators
6. Collaborators and leaders
7. Lifelong learners
8. Socially and ethically responsible
professionals
1. Reinforce the instilled values of the students through relevant
activities
2. Demonstrate service-oriented competence in their chosen field
3. Utilize critical and creative thinking skills to address the
challenges of the society
4. Conduct significant research that leads to the improvement of
the community
5. Apply communication skills to effectively convey ideas
6. Contribute to noteworthy advocacies to serve the multicultural
society
7. Pursue lifelong learning to improve oneself
8. Practice professionalism while attending to social
responsibilities

COLLEGE VISION COLLEGE GOALS

A Prime college in Accountancy
producing, globally competitive, highly
trained, well-disciplined, morally
upright and socially responsible
Accountants and Entrepreneurs.
COLLEGE MISSION
The College is committed to provide
High standard of education and best
quality training in the field of
accounting, preparing students ready
for their careers and in dealing with the
problems they will encounter as
accountants, entrepreneurs and duty-
bound citizens.
 Equip students with the technical knowledge, proficiency and
intellectual abilities to help them easily cope with the present
trend in the industry.
 Impart Christian values and culture of excellence, discipline and
service to humanity.
 Offer Curricula that will prepare students for their Licensure
examinations, certifications and future employment.
 Promote and sustain high quality instructions, teaching materials
and strategies.
 Deliver outreach services that will promote community
development.
 Develop alumni who are servant leaders and God-fearing
individuals.
 PROGRAM EDUCATIONAL OBJECTIVES PROGRAM OUTCOMES:
The Bachelor of Science in Accountancy The bachelor of Science in Accountancy graduates should be able
programs aim to achieve the following to demonstrate the following:
objectives: a. Knowledge in organization, business, information
1. To provide students with specific technology, accounting finance as in gaining an
skills for entry into the understanding of the different cultures in the world and in
accounting profession as well as developing an international perspective.
in BPO industry. b. Analytical, strategic, logical and critical thinking skills in
2. To prepare students for the solving a problem.
Certified Public Accountant c. Interpersonal skills the enhance the ability of the graduate
(CPA) licensure examination. to work in groups and being a team playing.
3. To equip students with knowledge, d. Christian values the emphasizes discipline, honesty,
skills, values, ethics and attitude uprightness and Godliness.
necessary in their eventual
career as professionals,
employees or entrepreneurs.

SPECIFIC COURSE INFORMATION

COURSE CODE AND ACCTG01-19 FINANCIAL
DESCRIPTION ACCOUNTING & PRE-REQUISITES ACCTG00-19
REPORTING
6 Units - 6 hours CO-REQUISITES None
CREDITS AND CONTACT lecture/week
HOURS
MWF 9:00AM-10:00AM AREA LEADER
CONSULTATION HOURS Consultation Room

COURSE DESCRIPTION

The course is a complement and/or the continuation of the Acctg00-19, Fundamentals of Accounting,
which covered the fundamentals of accounting for the service business of a sole proprietorship. This course
provides the fundamentals of accounting for merchandising concern of a sole proprietorship and the capital
transactions of the other forms of business organizations, the partnership and the corporation. Students will
again be exposed to the accounting process on the first part of this course, from transaction analysis to
recording, classifying, summarizing, reporting and finally to closing process. However, this time, on a higher
level since it will tackle more complex transactions and requirements. The second part will expose the
students to the capital transactions of a partnership and a corporation from their formations to their
operations.

SCOPE OF COURSE

1. Basic accounting principles, theories and concepts

2. Accounting cycle for a merchandising business of a single proprietor
3. Accounting for formation and operations of a partnership and a corporation.

COURSE OUTCOMES On the completion of the course, student is expected to be able to do the following:

Program Outcomes(PO) Course Outcomes(CO)

PO CO
Code Code
PO Carry out abstract logical thinking CO1 Describe basic accounting principles, theories and
01 and apply the process of critical concepts.
thinking.

PO Review, interpret, and evaluate CO 2 Record, classify and summarize systematically

03 financial data and business transactions of service and merchandising.
 systems/operational data/controls
in order to form conclusions
and/or recommendations on the
validity, usefulness, correctness
and compliance with established
policies, procedures, guidelines,
agreements and/or legislation

PO Discern the true nature of a CO 3 Prepare in good form Statement of Financial position
03 situation and evaluate applicable and Statement of Financial performance for single
principles and techniques. proprietorship engaged in service and merchandising
business.
PO Link data, knowledge and insight
04 from different sources and
disciplines to make informed
decisions

PO Work in groups and be a team

05 player.

PO Listen and communicate

06 effectively one’s points of view,
both orally and in writing at all
organizational levels; being able to
justify, persuade and convince
others of one’s position and
deliver impressive presentations.

PO Work in accordance with the

07 highest standards of
professionalism: integrity,
objectivity and independence,
professional competence and due
care, confidentiality, professional
behavior and moral values.

PO Pursue continuing professional

08 development, research and
community extension.

MAJOR COURSE OUTPUTS

As evidence of obtaining the above learning outcomes, students are required to do and submit the
following during the indicated dates within the term.

Course Required Output Due Date

Outcomes
MCO 1: 18 weeks
CO1& CO2 Participation in the class room discussion, graded recitation,
problem solving and submission of required assignment and/or
research output

CO3 MCO 2: 18 weeks

Quizzes and examinations with passing rate based on the grading
system

GRADING SYSTEM
 To pass this course, one must accumulate at least 60 points through the course requirements discussed
above. The maximum points that a student can obtain through each requirement are shown below:

Requirements/ Assessment Tasks Maximum Points

Major Exams (Midterm and Final) 33.33
Quiz, Seatwork, Assignment, Project and Recitation 66.67
TOTAL 100

Midterm Grade = (CS x 2 + Midterm Exam)/ 3

Final term Grade = (CS x 2 + Final Exam)/3
FINAL GRADE = Midterm grade + Final term grade
2
GRADE TABLE

Grade Grade Description Grade Grade Description

Percentage Equivalent Percentage Equivalent
97-100 1.00 Excellent 83-84 2.25 Average
94-96 1.25 Superior 80-82 2.50 Fair
91-93 1.50 Very Good 78-79 2.75 Fair
88-90 1.75 Good 75-77 3.00 Pass
85-87 2.00 Above Average Below 75 5.00 Failed
DRP Dropped

TEACHING AND LEARNING ACTIVITIES

WEEK COURSE OUTCOMES TOPICS LEARNING ASSESSMENT

ACTIVITIES AND TASKS
1 Identify the topics to be Course Plan, Course Discuss the
covered for the rest of the Guidelines and Rules outline of the
semester. Course and the
class rules

1. Understand the accounting REVIEW OF THE ACCOUNTING Lecture – Seatwork

equation and explain the PROCESS Discussion Quiz
significance. 1. Accounting equation Recitation
2. Identify the different steps 2. Accounting elements Problem Solving
involved in the accounting 3. Accounting cycle Group/Team
4. Double-entry bookkeeping Learning
cycle.
system
3. Apply the principles in
every step of the accounting
cycle.
2&3 1. Understand the nature and ACCOUNTING FOR Lecture – Seatwork
operations of a MERCHANDISING ACTIVITIES Discussion Quiz
merchandising business. 1. Nature of merchandising Recitation
2. Know the different terms operations Problem Solving
of sales or purchases. 2. Merchandise inventory Group/Team
3. Understand the different 3. Terms of sales and Learning
purchases
terms of shipment of
4. Terms of shipment of
merchandise.
merchandise
4. Prepare the journal entries 5. Accounting for
for merchandising merchandising transactions
transactions.

4&5 1. Differentiate the accrual ADJUSTING ENTRIES Lecture – Seatwork

basis accounting and pure- 1. Cash and accrual basis of Discussion Quiz
cash basis accounting. accounting Recitation
 2. Understand the concepts 2. Accounting principles Problem Solving
and principles used in income 3. Types of adjustments Group/Team
and expense recognition. 4. Analysis and preparation of Learning
3. Identify the different adjusting entries.
deferred items to be adjusted.
4. Prepare adjusting entries
for accruals and deferrals.

6 1. Understand the principles SUMMARIZING AND

of preparing worksheet, CLOSING PROCESS
financial statements, closing 1. Worksheet
entries, post-closing trial 2. Financial statements
balance and reversing entries 3. Closing entries
of a merchandising business. 4. Post-closing trial balance
2. Prepare the worksheet of a 5. Reversing entries
merchandising business.
3. Prepare the properly
classified financial
statements of a
merchandising concern.
4. Differentiate the financial
statements of a
merchandising business from
a service entity.
5. Prepare the closing
entries.
6. Prepare the pot-closing
trial balance.
7. Prepare the reversing
entries.

7 1. Describe the nature and ACCOUNTING FOR VALUE Lecture – Seatwork

components of value added ADDED TAX (VAT) Discussion Quiz
tax (VAT). TRANSACTIONS Recitation
2. Apply the concepts and 1. Value added tax Problem Solving
rules in recording VAT 2. Output and input tax Group/Team
transactions. 3. Recording transactions with Learning
3. Calculate the VAT payable VAT
of the business. 4. VAT payable
4. Prepare journal entries for
transactions with VAT.

8 1. Understand the purpose of SPECIAL JOURNALS Lecture – Seatwork

special journals.
2. Identify the transactions to
be recorded in the special
journals.
3. Record transactions in the
special journals.
4. Summarize the entries in
the special journals.
5. Analyze the summary of
each special journal.
1. Books of Original Entry Discussion Quiz
a. Cash Receipts Journal Recitation
b. Cash Payments Journal Problem Solving
c. Sales Journal Group/Team
d. Purchases Journal Learning
e. General Journal
2. Recording of transactions in
the special journals

9 MIDTERM EXAMINATION WEEK

 10 1. Understand and describe PARTNERSHIP Lecture – Seatwork
the definition of 1. Definition of Partnership Discussion Quiz
partnership. 2. Kinds of partnership Recitation
2. Identify the kinds of 3. Types of Partner Group/Team
partnership and types of 4. Advantages and Learning
partners. disadvantages of partnership
3. Describe the advantages 5. Registration of partnership
and disadvantages of
partnership
4. Identify the requirements
for partnership registration.

11 1. Identify the procedures in PARTNERSHIP FORMATION Lecture – Seatwork

the formation of
partnership.
2. Analyze the transactions
in the formation of a
partnership.
3. Prepare journal entries.
1. Formation of partnership by Discussion Quiz
individual investors Recitation
2. Formation of partnership Problem Solving
with sole proprietorship Group/Team
3. Closing the sole Learning
proprietorship books.
4. Journal entries in the
partnership’s books

12-13 1. Calculate the results of PARTNERSHIP OPERATIONS Lecture – Seatwork

operations of the 1. Results of operations of the Discussion Quiz
partnership. partnership. Recitation
2. Identify the methods of 2. Profit and loss sharing Problem Solving
dividing profits and losses of agreement Group/Team
a partnership. 3. Journal entries Learning
3. Calculate the share of
each partner.
4. Prepare journal entries.
14 1. Understand and describe CORPORATION Lecture – Seatwork
the definition of corporation 1. Definition of Corporation Discussion Quiz
2. Identify the kinds of 2. Kinds of corporation Recitation
corporation and types of 3. Articles of incorporation Problem Solving
shares. 4. By-laws Group/Team
3. Describe the advantages 5. Management Learning
and disadvantages of 6. Registration of corporation
corporation 7. Books of a corporation
4. Identify the requirements
for corporate registration.

15 1. Identify the procedures in CORPORATE FORMATION Lecture – Seatwork

the formation of 1. Authorized shares Discussion Quiz
corporation. 2. Subscribed shares and paid Recitation
2. Analyze the transactions up Problem Solving
in the formation of a 3. Classes of shares Group/Team
corporation. 4. Delinquent share Learning
3. Prepare journal entries. 5. Journal entries
16-17 1. Calculate the results of CORPORATE OPERATIONS Lecture – Seatwork
operations of the 1. Accumulated profits Discussion Quiz
corporation. (Retained earnings) Recitation
2. Identify the types of 2. Types of Dividends Problem Solving
dividend. 3. Journal entries Group/Team
3. Calculate the total Learning
dividend and the dividend of
each shareholder.
4. Prepare journal entries.

18 FINAL EXAMINATION WEEK

RUBRICS:
Criteria
Outstanding Excellent Good Fair Poor
(95%-100%) (90%-94%) (85%-89%) (80% - 84%) (Below 80%)
Reasoning Clear and Correct answer Correct answer Incomplete Wrong answer
and Analysis accurate answer; and reasons but with weak answers and and/or with
insightful, support answer reasons weak reasons wrong reasons
specific. but overlooked and/or
some/an irrelevant or
important confusing`
reason(S). reasons
Well organized, Presented Inconsistent Incoherent and Little or no
Organization ideas are in ideas with presentation of inconsistent evidence of
logical sequence minor errors. ideas presentation of organized ideas.
with clear ideas.
transition.
Grammar Use of correct Not more than Not more than Not more than Numerous
and Spelling grammar, choice two errors in four errors in six errors in errors in
of words, spelling grammar or grammar or grammar or grammar and
and punctuation. spelling spelling spelling spelling.

PRIMARY LEARNING MATERIALS

1 Millan, Z (2020). Financial Accounting and Reporting

SECONDARY LEARNING MATERIALS

2 Robles and Empleo N. (2021 Fundamentals of Accounting Partnership and Corporation
3 Bartolome-Kimwell, M. (2018). Fundamentals of Accounting

Prepared by the COA Course Plan Committee

Chair Member Member

Checked and Verified: Checked and Verified:

ISAGANI T. SABADO
Program Coordinator
Dean
Effectivity: First Semester, AY 2020-2021