PHINMA EDUCATION

COLLEGE OF MANAGEMENT AND ACCOUNTANCY

TABLE OF SPECIFICATIONS

Subject Code: ACC 106

Subject Description: Intermediate Accounting 1
Revision: FIRST SEM, SY 2023-2024
Easy Moderate Difficult
No. Topics Weight No. of items Remembering & Applying & Evaluating &
Understanding Analyzing Creating
30% 40% 30%
Notes Receivable 17% 12
Overview on Notes Receivable
Account for the initial and Initial and subsequent measurement of short-term and long-term
subsequent measurement of notes notes receivables
receivable. Account for notes receivable and interest for Lump sum and
instalment payments

Receivables – Additional Concepts 10% 7

Illustration the treatment of
Accounting for origination costs and fees
origination fees for loan receivable
Impairment of receivables
and account for receivable financing.
Receivable financing
Inventories 16% 11
Initial recognition and measurement of inventories
Goods in transit and consigned goods
Examine the initial and subsequent
Inventory financing arrangement
measurement of inventories
Net realizable value, inventory write-down
Periodic and perpetual inventory system

Inventory Estimation 11% 8

Gross Profit method
Estimate the cost of inventory ung
Retail method
gross profit and retail method.
Average cost and FIFO cost method

Classify and account for financial
assets and financial liabilities
Investments 14% 10
Identification of financial assets and financial liabilities
Classification of financial assets and financial liabilities
Initial and subsequent measurement of financial assets and
financial liabilities

Calculate the value of investment in 16% 11

Investments in Debt Securities
debt securities.
Measure the value of investment in 16% 11
Investments in Associates
associates using equity method.
100% 70