UNIVERSITY OF THE EAST

College of Business Administration

Manila Campus

DEPARTMENT OF ACCOUNTANCY, BUSINESS LAW AND TAXATION (ACLAT)

UNIVERSITY MISSION STATEMENT

Imploring the aid of Divine Providence, the University of the East dedicates itself to the service of youth, country and God,
and declares adherence to academic freedom, progressive instruction, creative scholarship, goodwill among nations and constructive
educational leadership.

Inspired and sustained by a deep sense of dedication and a compelling yearning for relevance, the University of the East
hereby declares as its goal and addresses itself to the development of a just, progressive and humane society.

UNIVERSITY VISION STATEMENT

As a private non-sectarian institution of higher learning, the University of the East commits itself to producing, through relevant
and affordable quality education, morally upright and competent leaders in various professions, imbued with a strong sense of service
to their fellowmen and their country.

CORE VALUES:
The University adheres to core values of Excellence, Integrity, Professionalism, Teamwork, Commitment, Transparency,
Accountability and Social Responsibility.

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 GUIDING PRINCIPLES:
The institution declares the following to be its guiding principles:
1. Dedication forever to the service of youth, country, and God; training the youth to become good and competent citizens;
promoting a deep and abiding loyalty to the Motherland and her own way of life; and serving the will of the Creator;
2. Active encouragement of academic freedom, the only road to the realm of wisdom and truth;
3. Constant attunement of curricula to the changing needs of individuals and nations in civilizations and cultures ceaselessly
being enriched by technology, science, and scholarship;
4. Encouragement to the utmost of scholarship and research towards the broadening of knowledge to new horizons and
the augmenting of mankind’s harvest of freedom, contentment, and abundance;
5. Promotion, through the bonds of culture, of international amity and goodwill as basis for enduring world peace long
dreamed of by men; and
6. Uttermost endeavor to attain and keep a position at the vanguard of higher education so that, as a beacon light to all the
Orient, it may attract to its campuses promising youth from many lands in search of wisdom and truth.

INSTITUTIONAL OUTCOMES
In pursuit of its vision, mission, the University will produce graduates:
1. Attuned to the constantly changing needs and challenges of the youth within the context of a proud nation, its enriched
culture in the global community.
2. Able to produce new knowledge gleaned from innovative research—the hallmark of an institution’s integrity and
dynamism.
3. Capable of rendering relevant and committed service to the community, the nation and the world.

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 COLLEGE OF BUSINESS ADMINISTRATION
Manila

COLLEGE MISSION STATEMENT:

The College of Business Administration commits itself to prepare the youth through relevant, responsive and ethical curricular programs into
morally upright, competent and well-rounded entrepreneurs, accountants, bankers, economists, business and finance managers.

COLLEGE VISION STATEMENT:

The College of Business Administration aims to be recognized as one of the top five producers of highly competent graduates who possess
the knowledge, skills, values and attitudes that prepare them to compete on an even keel in both local and global workplace in the 21st
century.

COLLEGE GOALS:
The College of Business Administration is committed to provide equal opportunities in quality business education with the UE mission and
our national aspiration, and geared towards global interdependence.

PROGRAM OUTCOMES:

A UE graduate of Bachelor of Science in Accountancy should be able to:

1. Resolve business issues and problems, with global and strategic perspective using knowledge and technical proficiency in the areas
of financial accounting and reporting, cost accounting and management, accounting and control, as well as taxation and accounting
information systems;
2. Conduct accountancy research through independent studies of relevant literature and appropriate use of accounting theory and
methodologies;
3. Employ technology as a business tool in capturing financial and non-financial information, generating reports and making decisions;
4. Apply knowledge and skills that will enable them to successfully respond to various types of assessments (including professional
licensure and certifications); and
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions
as an accountant.

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 UNIVERSITY OF THE EAST
COLLEGE OF BUSINESS ADMINISTRATION
Manila Campus

COURSE SYLLABUS
CURRICULUM YEAR 2018
SCHOOL YEAR 2020 - 2021

Course Code BSA 2101

Course Title Conceptual Framework and Accounting Standards
Course Units Lecture 3 units
Course Code BSA 1201
Pre-Requisite
Course Title Financial Accounting and Reporting

Course Description:
This course provides an in-depth discussion of financial accounting theory. It highlights the importance of financial accounting standards,
including the development of financial reporting framework. The course is designed to expose students to the core concepts of financial
accounting as embodied in different accounting frameworks. Topics include financial reporting standards, conceptual framework for financial
reporting, the practice of accountancy in the Philippines, revenue recognition and fair value measurement, and a detailed study of the
recognition, measurement, and presentation and disclosure requirements for financial assets and investments in associates.

Course Outcomes

Upon completion of the course, the learner will be able to:

1. Describe the growing importance of global financial markets and its relation to financial reporting.
2. Have a mastery of the principles, procedures and approaches in handling, accounting for and reporting financial assets and
investments in associates in the statement of financial position and the related income and expenses in the statement of profit or
loss and other comprehensive income.
3. Develop proficiency in the presentation of financial statements in accordance with PFRS.
4. Appreciate fully the need to comply with presenting the necessary disclosure requirements prescribed by the Securities and
Exchange Commission (SEC).

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 TIME INTENDED LEARNING
HOURS
ALLOTMENT OUTCOMES
Weeks 6 At the end of the lesson, the
1 and 2 learner will be able to:
1. State the university and
college mission and vision
statements, college and
program objectives and
outcomes
2. Summarize the contents of
the syllabus and intended
learning.
3. Identify the requirements of
the course
4. Describe the growing
importance of global
financial markets and its
relation to financial reporting.
5. Identify the major financial
statements and other means
of financial reporting.
6. Explain how accounting
assists in the efficient use of
scarce resources.
7. Explain the need for high
quality standards.
8. Identify the objective of
financial reporting.
9. Identify the major policy-
setting bodies and their role
in the standard setting
process.
10. Describe and enumerate the
requirements embodied in
the regulation of practice of
accountancy in the
Philippines.
OBE-BASED COURSE SYLLABUS OF BSA 2101 – CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS
TEACHING/LEARNING ASSESSMENT
TOPICS
ACTIVITIES TASKS
Orientation on the University Mission and ▪ Orientation
Vision, College Goals and Objectives and ▪ Discussion
program goals, objectives and outcomes. ▪ Sharing of
expectations
Overview of the course ▪ Question and answer
Leveling of expectations
Orientation on the requirements of the
course
PART I. INTRODUCTION TO FINANCIAL ▪ Lecture Discussion ▪ Recitation
REPORTING STANDARDS ▪ Case Discussion ▪ Assignment
(team learning) ▪ Quiz
TOPIC 1 – DEVELOPMENT OF FINANCIAL
REPORTING FRAMEWORK,
STANDARD-SETTING BODIES
A. Development of Financial Reporting
Framework
B. Standard-Setting Bodies
C. Regulation of the Accountancy Profession
Related Standards/Laws/Regulations:
Preface to IFRS Standards
The Philippine Accountancy Act of 2004 (RA
9298)
Revised SRC Rule 68
Page 5
 TIME INTENDED LEARNING TEACHING/LEARNING ASSESSMENT
HOURS TOPICS
ALLOTMENT OUTCOMES ACTIVITIES TASKS
11. Describe the challenges
facing financial reporting.

At the end of the lesson, the PART II. CONCEPTUAL FRAMEWORK FOR ▪ Lecture Discussion ▪ Recitation
learner will be able to: FINANCIAL REPORTING ▪ Case Discussion ▪ Assignment
1. Explain the objective, (team learning) ▪ Quiz
usefulness and limitations of TOPIC 2 – CONCEPTUAL FRAMEWORK
general-purpose financial FOR FINANCIAL REPORTING
reporting. A. The Objective of General Purpose
2. Analyze the information Financial Reporting
about a reporting entity’s B. Qualitative Characteristics of Useful
economic resources, claims Financial Information
against the entity and C. Financial Statements and the Reporting
changes in resources and Entity
claims. D. The Elements of Financial Statements
3. Analyze the information E. Recognition and Derecognition
about the use of the entity’s F. Measurement
economic resources. G. Presentation and Disclosure
4. Enumerate and explain the H. Concepts of Capital and Capital
qualitative characteristics of Maintenance
Weeks
3 useful financial information.
3 to 5
5. Discuss the cost constraint Related Standards:
on useful financial reporting. Conceptual Framework for Financial
6. Explain the objective and Reporting (2018)
scope of financial
statements and the reporting
entity.
7. Describe the elements of
financial statements – asset,
liability, equity, income and
expenses.
8. Discuss the recognition and
derecognition process.
9. Compare the measurement
bases and the information
provided by particular
measurement bases.
10. Enumerate and explain the
factors to consider when

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 TIME INTENDED LEARNING TEACHING/LEARNING ASSESSMENT
HOURS TOPICS
ALLOTMENT OUTCOMES ACTIVITIES TASKS
selecting a measurement
basis.
11. Illustrate presentation and
disclosure as communication
tools.
12. Explain the objectives and
principles of presentation
and disclosure, as well as
the concept of aggregation.
13. Discuss the concepts of
capital, capital maintenance
and the determination of
profit.

At the end of the lesson, the
learner will be able to:
1. Discuss the objective of
PFRS 15.
2. Enumerate the scope of
PFRS 15.
3. Describe and apply the five-
step model of revenue
recognition.
4. Explain and apply the
measurement criteria set by
PFRS 15.
Week 6 3
5. Discuss the related contract
costs.
6. Enumerate and illustrate the
presentation and disclosure
requirements set by PFRS
15.
7. Discuss the objective of
PFRS 13.
8. Enumerate the scope of
PFRS 13.
9. Explain and apply the
measurement criteria set by
PFRS 13.
PART III. REVENUE RECOGNITION AND ▪ Lecture Discussion ▪ Recitation
FAIR VALUE MEASUREMENT ▪ Case Discussion ▪ Assignment
(team learning) ▪ Quiz
TOPIC 3 – REVENUE FROM CONTRACTS
WITH CUSTOMERS AND FAIR VALUE
MEASUREMENT
A. Objectives and scope of PFRS 15
Revenue from Contracts with Customers
B. Recognition criteria
C. Measurement criteria
D. Contract costs
E. Presentation and disclosure requirements
under PFRS 15
F. Objectives and scope of PFRS 13 Fair
Value Measurement
G. Measurement related to fair value
H. Disclosure requirements under PFRS 13
Related Standards:
PFRS 13 Fair Value Measurement
PFRS 15 Revenue from Contracts with
Customers

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 TIME INTENDED LEARNING
HOURS
ALLOTMENT OUTCOMES
10. Enumerate and illustrate the
presentation and disclosure
requirements set by PFRS
13.
Week 7 3 At the end of the lesson, the
learner will be able to:
1. Discuss objective of the
standards related to financial
instruments.
2. Identify the scope of PAS 32,
PFRS 7 and PFRS 9
3. State the definition of
terminologies used in the
standards for financial
instruments.
4. Identify, describe, and explain
the recognition and
derecognition criteria set by
PFRS 9.
5. Classify properly financial
instruments in accordance
with the accounting
framework.
6. Identify and apply the
appropriate measurement
criteria for financial
instruments based on its
classification.
7. Enumerate and illustrate the
presentation and disclosure
requirements set by PAS 32
and PFRS 7, respectively.
Weeks 6 At the end of the lesson, the
8 and 9 learner will be able to:
OBE-BASED COURSE SYLLABUS OF BSA 2101 – CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS
TEACHING/LEARNING ASSESSMENT
TOPICS
ACTIVITIES TASKS
PRELIMINARY EXAMINATION
PART IV. FINANCIAL ASSETS ▪ Lecture Discussion ▪ Recitation
▪ Case Discussion ▪ Assignment
TOPIC 4 – FINANCIAL INSTRUMENTS (team learning) ▪ Quiz
FRAMEWORK
A. Objective and scope of PFRS 9 Financial
Instruments, PAS 32 Financial
Instruments: Presentation,
PFRS 7 Financial Instruments:
Disclosures
B. Definitions related and relevant to
financial instruments
C. Recognition and derecognition
D. Classification
E. Measurement
F. Presentation of financial instruments
G. Disclosures related to financial
instruments
Related Standards:
PAS 32 Financial Instruments: Presentation
PFRS 7 Financial Instruments: Disclosures
PFRS 9 Financial Instruments
TOPIC 5 – CASH AND CASH ▪ Lecture Discussion ▪ Recitation
EQUIVALENTS ▪ Assignment
Page 8
 TIME INTENDED LEARNING TEACHING/LEARNING ASSESSMENT
HOURS TOPICS
ALLOTMENT OUTCOMES ACTIVITIES TASKS
1. Identify items considered A. What is Cash? ▪ Case Discussion ▪ Quiz
cash. B. Concept of and items considered as cash (team learning)
2. Identify items considered equivalents ▪ Problem solving
cash equivalents. C. Reporting cash
3. Indicate how to report cash D. Petty cash and the imprest system
and related items. E. Bank reconciliation
4. Describe the imprest system F. Proof of cash
of internal control.
5. Account for petty cash fund. Related Standards:
6. Explain the need for bank PAS 7 Statement of Cash Flows
reconciliation. PAS 32 Financial Instruments: Presentation
7. Identify reconciling items PFRS 7 Financial Instruments: Disclosures
affecting the cash in bank PFRS 9 Financial Instruments
per ledger and cash in bank
per bank statement.
8. Prepare a bank
reconciliation statement,
including preparation of
adjusting journal entries.
9. Prepare a two-date bank
reconciliation.
10. Compute for deposit in
transit and outstanding
checks.
11. Reconcile cash receipts per
ledger with cash receipts per
bank statement.
12. Reconcile cash
disbursements per ledger
with cash disbursements per
bank statement.
13. Explain the nature of proof of
cash.
14. Prepare a reconciliation
showing proof of cash.
15. Enumerate and illustrate the
presentation and disclosure
requirements for cash and
cash equivalents.

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 TIME INTENDED LEARNING TEACHING/LEARNING ASSESSMENT
HOURS TOPICS
ALLOTMENT OUTCOMES ACTIVITIES TASKS

Weeks 9 At the end of the lesson, the TOPIC 6 – RECEIVABLES ▪ Lecture Discussion ▪ Recitation
10 to 12 learner will be able to: A. Definition of receivables ▪ Case Discussion ▪ Assignment
1. Define receivables and B. Types of receivables (team learning) ▪ Quiz
identify the different types of C. Recognition and measurement of
receivables accounts receivable
2. Differentiate the recording D. Estimation of doubtful accounts
under the gross method and E. Recognition and measurement of notes
net method of recording receivable
credit sales. F. Recognition and measurement of loan
3. Account for provision for receivable
doubtful accounts, accounts G. Receivable financing
written off and recoveries of
accounts written off. Related Standards:
4. Explain accounting issues PAS 32 Financial Instruments: Presentation
related to recognition and PFRS 7 Financial Instruments: Disclosures
measurement of accounts PFRS 9 Financial Instruments
receivable.
5. Identify and apply the
methods of estimating
doubtful accounts.
6. Determine the provision for
doubtful accounts by
applying the expected credit
loss model under PFRS 9.
7. Explain accounting issues
related to recognition and
measurement of notes
receivable.
8. Account for interest-bearing
and non-interest-bearing
note receivable.
9. Explain accounting issued
related to recognition and
measurement of loan
receivable.
10. Account for loan receivable,
including the identification of
treatment of loan origination
fees.

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 TIME INTENDED LEARNING
HOURS
ALLOTMENT OUTCOMES
11. Recognize impairment of
loan receivable.
Weeks 6 At the end of the lesson, the
13 and 14 learner will be able to:
1. Summarize the accounting
procedures of equity
investments at fair value.
2. Record acquisitions of equity
investments.
3. Determine different forms
equity investments.
4. Explain and apply the
measurement criteria for
equity investments at fair
value.
5. Account for cash dividends,
property dividends, stock
dividends, stock dividends,
and liquidating dividends.
6. Describe and account share
splits, special assessments,
share redemptions, and
share rights.
Weeks 6 At the end of the lesson, the
15 and 16 learner will be able to:
1. Summarize the, and account
for accounting for debt
investments at amortized
cost.
2. Summarize the, and account
for accounting for debt
investments at fair value.
3. Describe the accounting for
the fair value option.
OBE-BASED COURSE SYLLABUS OF BSA 2101 – CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS
TEACHING/LEARNING ASSESSMENT
TOPICS
ACTIVITIES TASKS
MIDTERM EXAMINATION
TOPIC 7 – INVESTMENT IN EQUITY ▪ Lecture Discussion ▪ Recitation
INSTRUMENTS ▪ Case Discussion ▪ Assignment
A. Recognition of equity investments (team learning) ▪ Quiz
B. Initial and subsequent measurement of
equity investments at fair value
C. Forms of equity investments
D. Derecognition of equity investments
E. Recognition of dividends
F. Other issues
Related Standards:
PAS 32 Financial Instruments: Presentation
PFRS 7 Financial Instruments: Disclosures
PFRS 9 Financial Instruments
Revised Corporation Code of the Philippines
(RA 11232)
TOPIC 8 – INVESTMENT IN DEBT ▪ Lecture Discussion ▪ Recitation
INSTRUMENTS ▪ Case Discussion ▪ Assignment
A. Classification of debt investments (team learning) ▪ Quiz
B. SPPI Test and Business Model Test
C. Debt Investments – Amortized Cost
D. Debt Investments – Fair Value
E. Forms and types of bonds
F. Effective interest method
G. Reclassification of financial assets
between categories
H. Derecognition of debt investments
Page 11
 TIME INTENDED LEARNING TEACHING/LEARNING ASSESSMENT
HOURS TOPICS
ALLOTMENT OUTCOMES ACTIVITIES TASKS
4. Classify debt investments by I. Impairment of debt investments.
applying the contractual
cash flows test and the Related Standards:
business model of managing PAS 32 Financial Instruments: Presentation
financial assets. PFRS 7 Financial Instruments: Disclosures
5. State different types of PFRS 9 Financial Instruments
bonds.
6. Apply the effective interest
method of amortizing bond
discount and premium.
7. Compute for effective
interest rate for bond
investments.
8. Outline the requirements
and account for
reclassification of financial
assets between categories.
9. Outline and describe the
expected credit loss model
for impairment of debt
investments
10. Enumerate and illustrate the
presentation and disclosure
requirements for liabilities.

Weeks 6 At the end of the lesson, the
17 and 18 learner will be able to:
1. Explain the nature of
associates.
2. Discuss the concepts of
significant influence.
3. Explain the rationale for the
equity method and the
different sets of financial
statements in which it may
be applied.
4. Apply the equity method to
an investment in an
associate.
PART V. INTRODUCTION TO GROUP ▪ Lecture Discussion ▪ Recitation
ACCOUNTING ▪ Case Discussion ▪ Assignment
(team learning) ▪ Quiz
TOPIC 9 – INVESTMENT IN ASSOCIATES
A. Objective and scope of IAS 28
Investments in Associates and Joint
Ventures
B. Identifying associates
C. The equity method of accounting:
rationale and application
D. Applying the equity method: basic
principles
E. Applying the equity method: goodwill and
fair value adjustments

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 TIME INTENDED LEARNING TEACHING/LEARNING ASSESSMENT
HOURS TOPICS
ALLOTMENT OUTCOMES ACTIVITIES TASKS
5. Adjust the application of the F. Applying the equity method: inter-entity
equity method for fair transactions
value/carrying amount G. Share of losses of an associate
differences of identifiable H. Disclosure
assets and liabilities at
acquisition date and account Related Standards:
for goodwill or gain on PAS 28 Investments in Associates and Joint
bargain purchase at Ventures
acquisition. PFRS 12 Disclosure of Interest in Other
6. Account for the effects of Entities
inter‐entity transactions
7. Account for associates
where these entities incur
losses.
8. Discuss the disclosures
required in relation to
associates.

FINAL EXAMINATION

References (2018). Compilation of Philippine Financial Reporting Standards (PFRS). PICPA.

Learning Resources
Bakker, E. (2017). Wiley interpretation and application of IFRS standards 2017. Hoboken, NJ: Wiley.
Beyersdorf, M. (2015). International GAAP 2015. United Kingdom: John Wiley & Sons, Inc.
Cabrera, E.B. (2018). Conceptual framework and accounting standards. Manila: GIC Enterprise.
Kieso, D., Weygandt, J. & Warfield, T. (2018). Intermediate Accounting: IFRS Edition. Hoboken, NJ: John Wiley &
Sons, Inc.
Schroeder, R. (2014). Financial accounting theory and analysis: text and cases. Hoboken, NJ: Wiley.
Valix, C. (2019). Conceptual framework and accounting standards. Manila: GIC Enterprise.
Valix, C. (2019). Intermediate accounting, Volume 1. Manila: GIC Enterprise.
Books Journal Articles
Laptop Computer
Calculator Projector

1. Class Standing 2. Major examination

Course Requirement/s
a. Recitation a. Preliminary
b Quizzes b. Mid-term
d. Assignment/seatwork c. Finals
d. Research work

OBE-BASED COURSE SYLLABUS OF BSA 2101 – CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS Page 13
Consultation Hours As posted
Retention Policy A student must garner a grade of at least 2.50 to be retained in the BS Accountancy program.

GRADING SYSTEM

PRELIM MIDTERM FINALS

Class Standing 20% Class Standing 20% Class Standing 20%
Quizzes 40% Quizzes 40% Quizzes 40%
Preliminary Exam 40% Midterm Exam 40% Final Exam 40%
100% TMG 100% TFG 100%
1/3 of PG 1/3 of MG
+ 2/3 of TMG + 2/3 of TFG
Midterm Grade Final Grade

* PG – Prelim Grade * TMG – Tentative Midterm Grade * MG – Midterm Grade * TFG – Tentative Final Grade

The 11-Point Grade System

1.00 98 - 100 2.00 86 – 88 3.00 75 – 76
1.25 95 – 97 2.25 83 – 85 4.00 70 – 74
1.50 92 – 94 2.50 80 – 82 5.00 Below 70
1.75 89 – 91 2.75 77 – 79

Prepared by: Approved by: Noted by:

Lindley Jan P. Mesina Joseph Y. Co Veronica N. Elizalde

Faculty Member Chairperson – ACLAT Department Dean

OBE-BASED COURSE SYLLABUS OF BSA 2101 – CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS Page 14
I have read the course syllabus and I understand that I have to comply with the requirements of the course and the expectations from me as a student
of BSA 2101 during the ________ Semester of SY ____________________. I am fully aware of the consequences of non-compliance with the above-
mentioned requirements and expectations.

____________________________________
Printed name and signature of student

__________________
Date
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
-

I have read the course syllabus and I understand that I have to comply with the requirements of the course and the expectations from me as a student
of BSA 2101 during the ________ Semester of SY ____________________. I am fully aware of the consequences of non-compliance with the above-
mentioned requirements and expectations.

____________________________________
Printed name and signature of student

__________________
Date

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