POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
COURSE TITLE PRINCIPLES OF ACCOUNTING
COURSE CODE ACCO 014
CREDIT UNITS 3 UNITS
COURSE PREREQUISITE NONE
COURSE DESCRIPTION This course provides an introduction to accounting, within the context of business and business decisions. Students obtain basic understanding of the principles and concepts of accounting as well as
their applicability and relevance in the national context and learn how to use various types of accounting information found in financial statements and annual reports. Emphasis is placed on
understanding the reasons underlying basic accounting concepts and providing students with an adequate background on the recording, classification, and summarization functions of accounting to
enable them to appreciate the varied uses of accounting data of a sole proprietorship for service type of business.
Institutional Learning Outcomes
1. Critical and Creative Thinking. Graduates use their rational and reflective
thinking as well as innovative abilities to life situations in order to push
boundaries, realize possibilities, and deepen their interdisciplinary,
multidisciplinary, and/or transdisciplinary understanding of the world.
2. Effective Communication. Graduates apply the four macro skills in
communication (reading, writing, listening, and speaking), through
conventional and digital means, and are able to use these skills in solving
problems, making decisions, and articulating thoughts when engaging with
people in various circumstances.
3. Strong Service Orientation. Graduates exemplify strong commitment to
service excellence for the people, the clientele, industry, and other sectors.
4. Adept and Responsible Use or Development of Technology. Graduates
demonstrate optimized and responsible use of state-of-the-art technologies of
their profession. They possess digital learning abilities, including technical,
numerical, and/or technopreneurial skills.
5. Passion for Lifelong Learning. Graduates perform and function in the
society by taking responsibility in their quest for further improvement through
lifelong learning.
6. Leadership and Organizational Skills. Graduates assume leadership roles
and become leading professionals in their respective disciplines by equipping
them with appropriate organizational skills.
7. Personal and Professional Ethics. Graduates manifest integrity and
adherence to moral and ethical principles in their personal and professional
circumstances.
8. Resilience and Agility. Graduates demonstrate flexibility and the growth
mindset to adapt and thrive in the volatile, uncertain, complex, and ambiguous
(VUCA) environment.
9. National and Global Responsiveness. Graduates exhibit a deep sense of
nationalism as it complements the need to live as part of the global community
where diversity is respected. They promote and fulfill various advocacies for
human and social development.
Program Outcomes Course Outcomes
Graduates must demonstrate the ability to review, interpret, evaluate financial data and Upon completion of the course, the students will be able to:
systems in compliance with established policies, procedures, guidelines, agreements and/or
a. Have detailed knowledge and understanding of the accounting
legislation. They must be able to link data, knowledge, and insight together with different
process of a sole proprietorship for both service and merchandising;
sources and disciplines to make informed decisions.
b. Produce the required entries and financial records of a
Graduates should possess active listening skills and the ability to effectively communicate
partnership;
one’s point of view, both orally and in writing, at all organizational levels; be able to explain
verbally and/or writing financial, statistical, administrative c. Competence and honesty in the performance of accountancy
matters/policies/procedures/regulatory matters/audit results at a level appropriate to the service;
audience and must be able to negotiate effectively. d. Demonstrate the qualities of a future accountant; and
e. Skilled in the use of a calculator, computer, and other business
Graduates should develop an ability to work in groups, possess skills to participate as
equipment
member of a team or/and contribute to group effort; be able to teach others new skills; be able
to work to the satisfaction of the clients; negotiate and work with diversity or work well with
men and women from diverse backgrounds.
Graduates must work with the highest standards of professionalism, to attain higher level of
performance and generally to meet the public interest, he must conform to the ethical
standards of the profession that include: Integrity, objectivity and independence,
professional competence and due care, confidentiality, professional behavior, and moral
values.
Graduates should possess general knowledge in gaining and understanding of the different
cultures in the world and developing an international objective thus, he must possess
competency in English language, adaptability to foreign business practices, level of
trainability and good capabilities in dealing with foreign partners.
Graduates should not only be conversant with IT concepts for business systems but sound
knowledge on internal control in computer-based systems, development standards and
practices for business systems, management of the adoption, implementation and use of IT,
evaluation of computer business systems, and managing the security information.
Graduates should possess broad base of knowledge concerning macro-environmental,
economic and industry issues, business process structures, functions, and practices. It
includes knowledge in areas such as economics, quantitative models and business statistics,
organizational behavior, international business, ethics, and corporate governance.
Course Plan
Week Topic Learning Outcomes Methodology Resources Assessment
1 Orientation on course syllabus; The student will be able to understand the contents of • Presentation of the grading • Subject Syllabus
grading system; class management the course syllabus, grading system and appreciate the system; class management • Student Handbook
policies; required textbook. need of instructional materials. policies and the rest of the
syllabus

1-2 Introduction to Accounting At the end of the lesson, the student will be able to: • Synchronous/asynchronous • Baguino, Armando D. et al • Online recitation
• comprehend the nature, purpose, functions, scope lectures (2013) Principles of • Virtual presentation by
and objectives of accounting; • Problem solving Accounting students of their answers to
• describe the role of accounting in business, and its • Graded recitation • Rante, Gloria A. (2013)
assigned exercises
specialized fields; Fundamentals of Accounting
• Online quiz regarding the topic
• differentiate the forms of business organizations as
well as the types of business operations, the users and
elements of financial statements; and
• comprehend the generally accepted accounting
principles as well as the qualitative characteristics of
financial statements.

3-5 Analyzing Business Transactions At the end of the lesson, the student will be able to: • Synchronous/asynchronous • Baguino, Armando D. et al • Online recitation
• comprehend the procedures in analyzing business lectures (2013) Principles of • Virtual presentation by
transactions, differentiate the source documents used • Problem solving Accounting students of their answers to
as a basis for recording; and assigned exercises
• Graded recitation • Rante, Gloria A. (2013)
• understand the concept of increase/decrease in an • Online quiz regarding the topic
Fundamentals of Accounting
account as well as the basic accounting equation.

5-8 Recording Transactions of a Service At the end of the lesson, the student will be able to: • Synchronous/asynchronous • Baguino, Armando D. et al • Online recitation
Company • understand the steps in the accounting cycle; lectures (2013) Principles of • Virtual presentation by
• understand and apply the rules of debit and credit in • Problem solving Accounting students of their answers to
recording business transactions; assigned exercises
• Graded recitation • Rante, Gloria A. (2013)
• illustrate the procedures in journalizing entries in the • Online quiz regarding the topic
Fundamentals of Accounting
journal and the posting process from the journal to the
ledger;
• prepare a trial balance from the ledger; and
• prepare correcting entries.

9 MIDTERM DEPARTMENTAL EXAMINATION

10-12 The Adjusting Process At the end of the lesson the student will be able to: • Synchronous/asynchronous • Baguino, Armando D. et al • Online recitation
• the student will be able to differentiate cash basis and lectures (2013) Principles of • Virtual presentation by
accrual basis of accounting; and • Problem solving Accounting students of their answers to
assigned exercises
• Graded recitation
 • the student will be able to recognize the different • Rante, Gloria A. (2013) • Online quiz regarding the topic
types of adjustments prepared at the end of the Fundamentals of Accounting
accounting period.
13-17 Completion of the Accounting Cycle of At the end of the lesson the student will be able to • Synchronous/asynchronous • Baysa & Lupisan Accounting • Online recitation
a Service Business • understand and prepare the worksheet; lectures for Partnership & Corporation • Virtual presentation by
• illustrate/prepare the financial statements (annual • Problem solving • Balbarino, Melinda & students of their answers to
and interim) from the worksheet; Doquenia, Marietta, (2018), assigned exercises
• Graded recitation
• prepare adjusting entries and closing entries; Thunderbird Trucking • Online quiz regarding the
• Completion of a practice set
• prepare post-closing trial balance; and Services topic
• understand the purpose of and prepare the reversing
entries.

18 FINAL DEPARTMENTAL EXAMINATION

Suggested Readings and References
• HF 5635 P75 2013 Baguino, Armando D. et al (2013) Principles of Accounting
• HF 5636 R36 2013 Rante, Gloria A. (2013) Fundamentals of Accounting
• HF 5635 O54 2012, Ong, Flocer Lao (2012). Fundamentals of Accounting: textbook for beginners. C& E Publishing
• HF 5635 A38 2014, Aduana, Nick L. (2014). Fundamentals of accounting: sole proprietorship accounting for service and merchandising with introduction to manufacturing (procedural approach). C&E Publishing
Inc.
• HF 5630.F86.R33 2016, Tugas, F. et. al. (2016). Fundamentals of Accountancy, Business and Management 1. Vibal Group Inc.
• HF 5630.F863.B48 2016, Beticon, J. et. al. (2016). Fundamentals of Accountancy, Business and Management 2. Vibal Group Inc.

Course Grading System

ONLINE MODE OF LEARNING
Class Standing 70%
Quizzes 50%
Assignments and other activities 20%
Midterm/Final Examination 30%
Total 100%

Final Grade = (1st Grading Period + 2nd Grading Period)

2

CORRESPONDENCE MODE OF LEARNING

Result from Online Final Departmental Examination 60%
Result from the activities in the modules 40%
Total 100%
Classroom Policy
The allowed number of absences for students enrolled with once-a-week meeting is four (4). Request for excused absences or waiver of absences must be presented upon reporting back to class. Special examinations
will be allowed 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 a grade of “FA,” (Failed due
to Absences). It is also his/her responsibility to consult with the teacher, chair or dean should his/her case be of special nature.
 All students are expected to be academically honest. Cheating, lying and other forms of immoral and unethical behavior will not be tolerated. Any student found guilty of cheating in examinations will (at a minimum)
receive a grade of 5.0 in the said test.

Consultation Time
Subject to the availability of the subject teacher, student may approach the subject teacher for queries about his/her grade as well as other academic requirements for the subject.

Prepared by: Enhanced by: Reviewed by:

(Sgd.) (Sgd.) (Sgd.)

Melinda S. Balbarino, MBA, CPA Dr. Catherine D. Sotto, CPA Noel A. Bergonia, MBA, CPA
Faculty Member Faculty Member Chairperson, Department of Accountancy

(Sgd.) (Sgd.) (Sgd.)

Maria Teresa M. Corrales, CPA, JD. Editha A. Peralta, MBA, CPA Marietta M. Doquenia, MBA, CPA
Faculty Member Faculty Member Chairperson, Department of Management Accounting

(Sgd.)
Francia P. Peñaflor, MBA, CPA
Faculty Member Recommending Approval:

(Sgd.)
Dr. Julieta G. Fonte, CPA
Dean, College of Accountancy and Finance

Approved by:

(Sgd.)
Dr. Emanuel C. De Guzman
Vice President for Academic Affairs

Revised September 2022