Laguna College

Department of Business Administration and Accountancy

Table of Specifications
in LC BSA Qualifying Examination
for S. Y. 2022 - 2023
(2nd Year Level)

Difficulty Level Easy (50%) Moderate (30%) Difficult (20%)

Bloom’s Taxonomy Remembering Understanding Applying Analyzing Evaluating Creating

LECPA Topics LECPA Subject LC's AE and PC Subjects/Topics No. of Items No. of Items (22) No. of Items (16) No. of Items (22) No. of Items (6) No. of Items (6) No. of Items (3)

The examinee can perform the following competencies under each

topic: 0
A. Development of Financial Reporting Framework, Standard-Setting Bodies and Regulation
of the Accountancy Profession Financial Accoutning and Reporting BME111 - Financial Accounting and Reporting Units 3 0

1. History, Development and Functions of the Standard-Setting Bodies Financial Accoutning and Reporting BME111 - Financial Accounting and Reporting Units 3 1 1
1.1 Explain the history, development and functions of IASB, IFRIC and SIC, FRSC AND PIC. Financial Accoutning and Reporting BME111 - Financial Accounting and Reporting Units 3 1 1
2. Regulation and Environment of the Accounting Profession in the Philippines Financial Accoutning and Reporting BME111 - Financial Accounting and Reporting Units 3 1 1
2.1 Explain the regulation and environment of the profession through the Professional Regulatory
Board of Accountancy, the accredited professional organization of professional accountants in the
Philippines and the sectors of the practice of accountancy profession and their accreditation Financial Accoutning and Reporting BME111 - Financial Accounting and Reporting Units 3 1 1
requirements.
B. Conceptual Framework, Accounting Process and Presentation of Financial Statements
Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 0

1. Conceptual Framework for Financial Reporting Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 1 1
1.1 Explain the objective and status of the Conceptual Framework together with the Qualitative
Characteristics of Useful Financial Information.
Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 1 1
1.2 Explain the definition of recognition and derecognition criteria and measurement bases for the
elements of the financial statements together with the concepts of capital and capital maintenance. Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 1 1

2. Accounting Process Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 0
2.1 Summarize the steps in the accounting process, the use of the special journals, general journal,
subsidiary ledgers and general ledgers and completing the accounting cycle, including use of Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 6 5 1
worksheet, adjusting entries, closing entries and reversing entries.
3. Presentation of Financial Statements Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 0
3.1 Apply the general features, describe the definition of elements and illustrate a classified statement AE121 - Conceptual Framework and Accounting Standards Units 3
of financial position. Financial Accoutning and Reporting 1 1
3.2 Apply the general features, describe the nature and function of expense, describe the components Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 1 1
of profit
3.3 Applyfrom
thecontinuing operations
general features, and the sections
describe components
and of discontinued
illustrate operations
the statement and flows
of cash illustrate
fromthe AE121 - Conceptual Framework and Accounting Standards Units 3
statement
operationsof comprehensive
both the direct andincome together
indirect with the statement of changes in equity.
methods.
Financial Accoutning and Reporting 1 1
3.4 Prepare Notes to the Financial Statements Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 1 1
3.5 Compute and Disclose Basic and Diluted Earnings Per Share Information. Financial Accoutning and Reporting AE121 - Conceptual Framework and Accounting Standards Units 3 0
C. Cash and other Financial Assets Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 0
1.
1. Cash
Cash Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 0
1.1 Describe the nature and composition of cash
1.1 Describe
1.2 Prepare the nature
a bank and composition of cash
reconciliation Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 0
1.2 Prepare
1.3 Apply theaaccounting
bank reconciliation
for petty cash fund Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
2. Other
1.3 Apply Financial Assets (initial
the accounting recognition,
for petty basis for classification, subsequent measurement, reclassification
cash fund Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
and presentation in the financial statements)
2. Other Financial Assets (initial recognition, basis for classification, subsequent measurement,
2.1 Apply the recognition principles for financial assets at fair value through profit or loss, recognition
reclassification and presentation in thethrough
financial statements) Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
principles for financial assets at fair value other comprehensive income and recognition principles for
financial
2.1 Applyassets
theatrecognition
amortized cost.
principles for financial assets at fair value through profit or loss,
2.2 Measure principles
recognition trade and other receivablesassets
for financial including valuation
at fair using allowance
value through for doubtful accounts
other comprehensive incomeand transfer
and
of receivablesprinciples
(pledging, for
assignment
Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
recognition financialand factoring).
assets at amortized cost.
2.3 Measure other financial assets at amortized cost (including investment in bonds).
2.4 Discuss
2.2 Measure investment
trade andinother
associates and jointincluding
receivables venture valuation using allowance for doubtful accounts
and transfer of receivables (pledging, assignment and factoring). Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
2.3 Measure other financial assets at amortized cost (including investment in bonds). Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
2.4 Discuss investment in associates and joint venture Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 0
D. Non-financial Assets AE212 - Intermediate Accounting 1 Units 6
1. Inventories Financial Accoutning and Reporting 0

1.1 Describe the nature and determine the capitalizable cost at initial recognition; and, apply AE212 - Intermediate Accounting 1 Units 6
inventory cost flow assumptions and subsequent measurement at lower of cost or estimated selling Financial Accoutning and Reporting 1 1
price less cost to complete and sell.
1.2 Apply estimation procedures – gross profit and retail inventory method. Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
2. Property, plant and equipment AE212 - Intermediate Accounting 1 Units 6
Financial Accoutning and Reporting 1 1
2.1 Describe the nature and determine capitalizable cost at initial recognition; and measure borrowing costs
Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
2.2 Investment
3. Identify subsequent
property expenditures and apply subsequent measurement based on cost with consideration on
Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
depreciation,
3.1 Describe depreciation
the methods and
nature, determine changes incost
capitalizable useful life and
at initial depreciation
recognition, methods.
apply measurement subsequent to
4.
2.3 Intangible
Determine assets
Revaluation and Impairment Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
initial
4.1 recognition
Describe the using cost
nature, method
determine and fairand
capitalizable
account
value method
cost
forand
at initial
retirement
accountand disposals.
foridentify
recognition, subsequent expenditures,
5. Biological
derecognition assets
and reclassification. Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 0
apply
5.1 subsequent
Describe measurements
theassets
nature, for from
distinction finite bearer
lives assets
plants–and
amortization and indefinite
6. Non-current
lives assets, produce, held
determinedeterminefor saleand
impairment (or account
disposalfor
group) Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 0
agricultural
6.1 Describeexpenses
the nature capitalizable cost atderecognition.
initial recognition and applycost
subsequent
at initialmeasurement
7. Prepaid and– other
criteria for this classification,
assets determine capitalizable recognition, apply
Financial Accoutning and Reporting AE212 - Intermediate Accounting 1 Units 6 1 1
measurement
7.1 Cost
Describe and measure prepaid expenses and other assets.
V.
subsequent Accounting
to initial recognition and account for Reclassification and Derecognition Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
1. Describe the system of cost accumulation or costing system Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
1.1 Differentiate actual costing, normal costing, and standard costing Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
2. Job Order Costing Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
2.1 Record transactions using a job order costing procedures Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
2.2 Compute Cost of Goods Manufactured and Sold Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
2.3 Account for spoiled units and rework costs Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
2.4 Describe the cost accumulation procedures for materials, labor, and overhead Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
3. Process Costing System Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
3.1 Record transactions using a process costing procedures Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
3.2 Determine cost of production under Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
3.2.1 FIFO Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
3.2.2 Weighted Average Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
3.3 Account for lost units in scraps, wastes, spoilages, and reworks Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
3.3.1 Normal lost units-end of process Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
3.2.2 Abnormal lost units Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
3.4 Accumulate cost procedures for materials, labor, and overhead Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
4. Backflush / JIT Costing System Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
4.2 Prepare the journal entries Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
4.1 Determine cost of materials, labor, and overhead to be backflushed to finished goods Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
5 Activity-Based Costing System (ABC System) Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
5.1 Allocate cost using Activity Based Costing System versus Traditional costing Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
5.2 Compute total manufacturing cost and cost per unit using ABC and Traditional costing Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
5.3 Apply the concepts of activity levels, cost pools, and activity drivers Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
5.4 Determine cost pool rates and their application to overhead costs Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
6 Joint and By-Products Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
6.1 Compute and allocate joint (common) costs at the point of slit-off using: Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
6.1.1 Market (Sales) value method Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
6.1.1.1 Market Value at split-off point approach Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
6.1.1.2 Hypothetical market value approach or approximated net realizable value approach Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
or net realizable
6.1.1.3 Average value method output) method
unit (production Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
6.1.1.4 Weighted average method Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
6.1.2 Methods of allocating Joint cost to by- products Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
6.1.2.1 No joint cost allocated to by- product Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
6.1.2.2 With joint costs allocated to by-product Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
7 Service Cost Allocation Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
7.1 Allocate service department costs using Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
7.1.1 Direct method Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 1 1
7.1.2 Step-down method Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
7.1.3 Reciprocal method Adavance Financial Accoutning and Reporting AE214 - Cost Accounting and Control Units 3 0
4.2. Determine the key elements of capital budgeting investment decisions (net
investment, operating cash flow and cost of capital) and evaluate the same using both Management Services AE213 - Financial Management Units 3 2 2
discounted and non-discounted cash flow techniques.
Y. Financial Management Management Services AE213 - Financial Management Units 3 0
1. Identify and describe the nature, objectives, and scope of financial management in making
business decisions. Management Services AE213 - Financial Management Units 3 1 1

2. Analyze and use financial data derived from financial statements in evaluating the
performance of the management and make business decisions. Management Services AE213 - Financial Management Units 3 1 1

3. Apply different working capital (cash, receivables, inventory, and other short-term resources)
management methods and techniques in making short-term business decisions. Management Services AE213 - Financial Management Units 3 1 1
4. Determine the key elements of capital budgeting investment decisions (net investment,
operating cash flow and cost of capital) and evaluate the same using both discounted and non- Management Services AE213 - Financial Management Units 3 1 1
discounted cash flow techniques.
Z. Economic Concepts Essential to Obtaining an Understanding of Entity’s Business and BME113 - Managerial Economics Units 3
Industry Management Services 0
1. Identify and describe the basic concepts of macroeconomics that are relevant in making
business decisions, and apply the concepts properly Management Services BME113 - Managerial Economics Units 3 1 1
2. Identify and describe the basic concepts of microeconomics that are relevant in making
business decisions, and apply the concepts properly. Management Services AE211 - Economic Development Units 3 2 1 1
AA. Law on Business Transactions RFBT BME122 - Law on Obligations and Contracts Units 3 0
1. . Obligations RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1 Describe obligations RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.1 Apply the sources of obligations and their concepts RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.3.1 Law RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.3.2 Contracts RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.3.3 Quasi-contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.3.4 Delicts RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.3.5 Quasi-delicts RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.2. Compare and apply the kinds of Obligations RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.2.1. Pure/Conditional/Obligation with a Term RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.2.2. Solidary /Joint Obligations RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.2.3. Alternative/ Facultative Obligations RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.2.4. Divisible/ Indivisible Obligations RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.2.5. Obligation with a Penal Clause RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.3 Describe the specific circumstances general affecting obligations in RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.3.1 Fortuitous Events RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.3.2 Fraud RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.3.3 Negligence RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.3.4 Delay RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.3.5 Breach of contract RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.4 Discuss the nature and effects of Obligations RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.4.1 Concurrent Obligations in obligations to give a specific/determinate thing RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.4.2 Obligations to do or not to do RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.4.3 Remedies in case of non-performance RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.4.4 Damages RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.5 Distinguish the extinguishment of obligation with special emphasis on RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.5.1 Payment of debts of money RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.5.2 Mercantile documents as means of payment RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.5.3 Apply the special forms or mode of payment RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.5.3.1 Dation in payment RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.5.3.2 Application of payments RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.5.3.3 Payment by cession RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
1.1.5.3.4 Tender of payment and consignation RFBT BME122 - Law on Obligations and Contracts Units 3 0
1.1.5.4 Loss of the thing due, remission or condonation, confusion, compensation RFBT BME122 - Law on Obligations and Contracts Units 3 0
and novation
2. Contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.1. General Provisions RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.1.1. Describe contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.1.2. Discuss the classification of contracts RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
2.1.3. Identify the stages of contract RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.1.4. Relate the Freedom to contract (establish stipulations) and limitation RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.1.5. Identify who are persons bound RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.2. Apply the essential requisites of contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.2.1. Consent RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.2.2. Requisites RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
2.2.3. Capacitated persons RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.2.4. Vices of consent RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.2.5. Objects of contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.2.6. Cause of considerations of contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.3. Determine the forms of contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.4. Discuss the reformation of instruments/contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.5. Discuss the interpretation of contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.6. Discuss and apply the defective contracts RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.6.1. Resistible RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
2.6.2. Voidable RFBT BME122 - Law on Obligations and Contracts Units 3 0
2.6.3. Unenforceable RFBT BME122 - Law on Obligations and Contracts Units 3 1 1
2.6.4. Void and inexistent RFBT BME122 - Law on Obligations and Contracts Units 3 0