ARELLANO UNIVERSITY – PLARIDEL CAMPUS

School of Hotel, Restaurant & Institution Management

Academic Year 2011-2012

SYLLABUS

COURSE TITLE : BASIC ACCOUNTING

COURSE CODE : ACTG. 101

CREDIT : 3 UNITS

TOTAL HOURS : 54 HOURS (3 HOURS A WEEK)

PREREQUISITE : NONE

COURSE OBJECTIVES: At the end of the course the student is expected to:

1. Know the meaning nature and purpose of accounting.

2. Distinguish the different forms of business organization
3. Develop skill in analyzing accounting equation
4. Differentiate the financial statements of service manufacturing and trading firms
5. Record changes in financial position
6. Measure business income and expense
7. Complete a worksheet and record adjusting entries at the end of the accounting period
8. Prepare, analyze and interpret financial statements
9. Know the use of special journals
10. Appreciate computer-based accounting system
11. Inculcate the values of honesty, integrity and accuracy in the recording and presentation of accounting information
12. Develop awareness of the social responsibilities of the business
 COURSE OUTLINE NO. OF HOURS
UNIT I – ACCOUNTING : The Language of Business 3
A. Nature and Purpose of Accounting
B. Communicating Accounting Information Through the Financial Statements
UNIT II – Forms of Business Organization 3
A. Single Proprietorship
B. Partnership
C. Corporation
UNIT III – The Accounting Equation and Financial Statements …..
A. Accounting Equation 6
B. Study of Actual Financial Statements of a service, manufacturing and traiding
formed either as
a. Single proprietorship or
b. Partnership or
c. Corporation
C. Recording Revenue and expense transaction
a. Service Income – (cash or on account)
b. Sale of merchandise – (cash or on account)
c. Purchase of merchandise (cash or on account)
d. Payment of Expense

UNIT V. Worksheet and Adjusting Entries

A. Preparation of adjusting entries for: 9
a. Accrued expense; accrued income
b. Prepaid expense;unearned income
c. Depreciation
d. Bad debts
e. Merchandise Inventory
UNIT VI. - Preparation of Financial Statements
A. Balance Sheet 6
B. Income Statement
C. Capital Statement
 COURSE OUTLINE NO. OF HOURS

UNIT VII – Analysis and Interpretation of Financial Statements 6

A. Purpose and limitation of financial statements analysis
B. Analysis of financial statements
1. Evaluation of solvency
2. Evaluation of long-term financial position
3. Evaluation of profitability
UNIT VIII – Tailoring and Accounting System to the Needs of a Larger Business
A. Recording transactions using special journals 6
B. Introduction to computer-based accounting systems

SUMMARY

SUMMARY ALLOTED HOURS

I. Accounting: Language of Business 3

II. Forms of Business Organization 3
III. The Accounting Equation and Financial Statements 6
IV. Effects of Business Transaction upon the Financial Statements (Single 9
Proprietorship)
V. Worksheet and Adjusting Entries 9
VI. Preparation of Financial Statements 6

REFERENCES:

 Management Accounting for the Hospitality, Tourism & Leisure Industries (2nd ed.) by Debra Adams (c. 2007)
 Fundamentals of Hotel Accountancy by Tarun Gupta (c. 2008)
 Hotel Accounting by Anil Kathuria (c. 2008)
GRADE SHEET : Class standing (Average Quiz, Recitation, Attendance) ------------ 60%

Periodical Examinations -------------------------------------------------------------- 40%

COURSE REQUIREMENTS: The students are required to:

1. Attend class regularly

2. Comply with the periodic assignments, quizzes and major examinations