Professional Documents
Culture Documents
Vision
Guided by the core values of Fortitude, Excellence and Uprightness, Far Eastern University aims to be a university of choice in Asia
Mission
Committed to the highest intellectual, moral and cultural standards, it strives to produce principled and competent graduates. It nurtures a service-
oriented and environment conscious community which seeks to contribute to the advancement of the global society.
Quality Policy
Far Eastern University is committed to providing quality educational services. Each person is expected to do the job right the first time with the
intention of consistently satisfying the requirement of our students, other members of FEU community, and external parties. Under any given
circumstances we shall adhere to all the requirements and standards for continuous improvement and effectiveness of the
quality management systems.
Vision
Far Eastern University – Institute of Accounts, Business and Finance (IABF) envisions itself
to be the preferred business school in Asia.
Mission
The Institute of Accounts, Business and Finance is committed to produce principled and competent business graduates, espousing Fortitude, Excellence
and Uprightness. IABF will promote community engaged, service-oriented individuals who will shape and build strong organization in the future.
DEPARTMENT OF ACCOUNTANCY
Vision
Guided by the core values (Fortitude, Excellence and Uprightness) of a true-blooded Tamaraw, the Accountancy Program of FEU– IABF envisions itself
as a Center of Excellence in Accountancy Education.
Mission
It commits to develop future responsible accounting professionals through holistic accountancy curriculum, extensive and innovative delivery of
instruction, competent and highly qualified faculty, state-of-the-art facilities, industry and community-based researches, practical-based student
apprenticeship program and extensive community
Program Learning Outcomes (PLO)
1. Analyze business transactions in accordance with the appropriate accounting and auditing standards, taxation and business laws.
2. Prepare financial statements and other-related reports in accordance with applicable accounting and auditing standards, taxation and business
laws.
3. Utilize appropriate accounting/auditing information systems in managing business transactions.
4. Identify the features of various business processes of global, e-commerce and emerging markets.
5. Develop a strategic business plan using the management concepts and principles holistically.
6. Interpret the business environment through the use of various financial and management analysis.
7. Evaluate accounting-related topics and contemporary issues through written inquiry and investigation.
8. Apply relevant auditing standards to financial statements audit for reliable communication of results to stakeholders.
9. Act with integrity, objectivity, professional competence and due care, confidentiality and professional behavior in accordance with Code of
Ethics.
10. Prepare income tax returns and other business documents in compliance with regulatory requirements.
11. Pass the licensure examination and global certifications.
12. Demonstrate leadership and interpersonal skills through collaborative work.
13. Communicate effectively in a variety of domain including writing, speaking, listening and reading in the context of accounting and business.
14. Adapt to changing environment by responding positively to challenges.
15. Manifest the FEU core values - Fortitude, Excellence and Uprightness.
COURSE LEARNING OUTCOMES IN RELATION TO STUDENT OUTCOMES AND PROGRAM LEARNING OUTCOMES
CLO4 Discuss the components of Share Capital, Reserves, and Retained Earnings 1, 9, 11, 15
CLO8 Prepare the shareholders’ equity section of the statement of financial position 1, 9, 10, 11, 15
CLO9 Prepare the interrelated financial statements for a corporation– statement of comprehensive income, statement 1, 9, 10, 11, 15
of changes in equity, and statement of financial position.
CLO10 Discuss in detail the Conceptual Framework for financial reporting 1, 9, 11, 15
CLO11 Explain other standards related to financial statement preparation and presentation. 1, 2, 9, 11, 15
CLO16 Identify the measurement bases for the elements of financial statements 1, 9, 11, 15
CLO17 Distinguish financial capital maintenance concept and physical capital maintenance concept. 1, 9, 11, 15
CLO18 Explain selected and relevant PASs and PFRs ( PAS 1-41 and PFRS 1-17) 1, 9, 11, 15
Time Frame Learning Strategy/Methodology/ Student Evaluation/
Lesson/Topics
Week/Day Outcomes Activities Output Assessment
Corporation: Basic Considerations CLO1 Faculty-facilitated Case Analysis Pre-test
Definition CLO2 discussion Post-test
Attributes of a Corporation Assignments Long quiz
Advantages and Disadvantages of a Concept Mapping Performance-Based
Corporation Multi-media presentation test
Classes of Corporation Boardwork Graded Recitation
Component of a Corporation Case Method of Teaching Summative test-
Minimum Subscription and Paid-In Capital CANVAS Departmental
Basic Corporation Organizational Structure examination
Rights of a Stockholder
Articles of Incorporation
By-Laws
Corporate Books and Records
SEC Requirements – 25%-25% Rule
Revised Corporation Code
Requirements for Registration of New
1 Corporation
Minimum number of Incorporators
One-Person Corporation (OPC)
Positions in the OPC
Term of existence
Extended period to commence corporate
operations
Delinquent corporations
Remote Participation
Lifting ban on corporate donations for
political parties or candidates
Corporations vested with public interest
OPC Corporate Documents
OPC Owned By A Foreign National
Consent of Nominee and Alternate
Nominee
Term of Nominee and Alternate Nominee
Contributed Capital CLO1 Faculty-facilitated Case Analysis Pre-test
CLO2 discussion involving Post-test
Legal Capital CLO3 Assignments journal entries Long quiz
Share Capital CLO4 Concept Mapping for share Performance-Based
Additional Paid-In Capital/Share Multi-media presentation transactions test
Premium Boardwork Graded Recitation
2 Account Titles Related to share capital Case Method of Teaching Summative test-
Ordinary and Preference Shares CANVAS Departmental
Journal entries for Issuance of one examination
class of shares
Two Methods of Accounting for Share
capital
o Chapter 2 – Qualitative
Characteristics of Useful
Financial Information
o Fundamental qualitative
characteristics
Relevance
Predictive value
Confirmatory
Value
Faithful
Representation
Neutrality
Completeness
Freedom from
error
o Enhancing Qualitative
characteristics
Comparability
Timeliness
Verifiability
Understandability
o Prudence
o Measurement uncertainty
o Materiality
o Cost Constraint
o Other Related/Basic
concepts and Underlying
Assumption
Going concern
Business Entity
Monetary
Measurement
Cost Principle
Reporting Period
Objectivity
Accrual Principle
o Chapter 3 - Financial
Statements and Reporting Entity
o Description of Reporting
Entity
o Consolidated,
unconsolidated and
combined financial
Statements
o Statement of Financial
Position
o Statement of Profit or
Loss/Statement of
comprehensive Income
o Statement of Changes in
Equity
o Statement of cash Flows
o Chapter 4 – Elements of
Financial Statement
o New definition of asset
o New definition of
liability
o IFRS 3 definition of asset
and liability
o New definition of
income and expenses
o Definition of equity
o Unit of account
o Executory contracts
PAS 10 - Events after the Reporting CLO18 Faculty-facilitated Case analysis Pre-test
Period discussion Post-test
o Adjusting Events After the Assignments Long quiz
Reporting Period Concept Mapping Performance-Based
o Non-Adjusting Events After the Multi-media presentation test
Reporting Period Board work Graded Recitation
Case Method of Teaching
CANVAS
16
PFRS 9 – Financial Instruments CLO18 Case analysis Pre-test
o Initial Recognition Faculty-facilitated Post-test
o Classification of Financial Assets discussion Long quiz
o Measurement of Financial Assets Assignments Performance-Based
o Reclassification Concept Mapping test
o Impairment Multi-media presentation Graded Recitation
o Derecognition Board work Summative test-
o Classification of Financial Case Method of Teaching Departmental
Liabilities CANVAS examination
o Measurement of Financial
Liabilities
INSTRUCTIONAL MATERIALS/RESOURCES
1. PowerPoint
2. CANVAS
3. Other Learning Management System(LMS) e.g. Connect, Mindtap
REQUIRED TEXTBOOK
Conceptual Framework and Accounting Standards by Conrado Valix, 2019 edition
Conceptual Framework and Accounting Standards by Reynaldo Ocampo, 2019 edition
Partnership and Corporation by Baysa and Lupisan, 2018 edition
CLASSROOM POLICIES
It is the responsibility of the learner to come to each class prepared. He/she is also expected to take all examinations on the
scheduled date. He/she should read the assigned problems prior to class discussion. He/she is expected to attend each class and
participate actively in the discussions.
POLICY ON ABSENCES
The students are allowed only 20% of the total number of hours in a semester for absences. Hence, the allowed number of
absences for a student enrolled in a 3-unit subject or 6-unit subject is a maximum of six (6) absences during regular semester.
Request for excused absences or waiver of absences must be presented prior to occurrence of absence or immediately upon
reporting back to class, whichever is applicable. Special examinations will be given only in special cases, such as prolonged illness.
It is the responsibility of the student to monitor his/her own tardy incidents and absences that might accumulate leading to the
grade of 5.00 or F. It is also his/her responsibility to consult with the concerned faculty member, program head, Dean should
his/her case be of special nature.
All official fees of the University are collected through the Cash Department. Students should not pay any additional fees such as those for tickets,
entrance fees, transportation fees, hand-outs, readings, quizzes or tests to any faculty or staff
member of the University.
In compliance with the Act and for ensuring highest level of data security and confidentiality in the access of student’s personal data/information,
faculty members should not allow the student to check other students’ test papers, assignments, seat work, announce the individual grades of
the students before the class, disclose student information, student records and other “student-generated content” in any media, and any other
similar acts that will jeopardize the interest of an identified individual student.
COURSE REQUIREMENTS:
Assignments, Quizzes, Practice Set, Major Exams GRADING SYSTEM Computation of Periodic Grades
GRADING SYSTEM:
Computation of Periodic Grades
I. Computation of 1st Preliminary Grade: Midterm Grade (MG)
Formative Assessment (FA)
Class Participation (Homework, Practice Tests, Recitation, Pre-test) 20%
Quizzes 30%
Summative Assessment (SA) - Major Departmental Exam 50%
1st PRELIMINARY GRADE 100%