MIDTERMS

1. Introduction to Corporate Governance

a. Governance, Defined
b. Characteristics of Good Governance
c. An Overview of Corporate Governance
d. Purpose of Corporate Governance
e. Objective of Corporate Governance
f. Basic Principle of Effective Corporate Governance

ILO: Define governance; identify the characteristics of goods governance;

explain the meaning, purpose and objective of corporate governance; and
describe the principles of effective corporate governance and its applications
2. Corporate Governance Responsibilities and Accountability

a. Relationship Between Shareholders and Other Stakeholders

b. Parties Involved in Corporate Governance, Their Respective Broad Role
and Specific Responsibilities

ILO: Explain the relevance of good governance to companies; know the

relationship between shareholders and other stakeholders; identify the parties
involved in corporate governance; and describe the responsibilities of different
parties in a corporate setting.
3. Securities and Exchange Commission Code of Corporate Governance

a. The Board’s Governance Responsibilities

b. Disclosure and Transparency Principles
c. Internal Control System and Risk Management Framework
d. Cultivating a Synergetic Relationship with Shareholders
e. Duties to Stakeholders

ILO: Understand the need for the Code of Corporate Governance for Publicly
Listed Companies and know the governance responsibility of the Board of
Directors of publicly listed companies.
4. Introduction to Ethics

a. Characteristics and Values Associated with Ethical Behavior

b. Necessity of Ethical Behavior
c. Reasons for Unethical Acts of People
d. Categories of Ethical Principle
e. The Need for Professional Ethics

ILO: Define ethics; enumerate and describe the characteristics associated

with ethical behavior; understand why people act unethically; and explain why
code of professional ethics is important.
5. Business Ethics
a. Concepts of Business Ethics
b. Purpose of Business Ethics
c. Scope and Impact of Business Ethics
d. Ethical Challenges in Today’s World

ILO: Explain what business ethics is and discuss its purpose, scope and
impact in the economy, society, and environment.
6. Common Unethical Practices of Business Establishments

a. Misrepresentation
b. Over Persuasion
c. Unethical Practice of Corporate Management

ILO: Be familiar with some of the common unethical practices of business

establishments.
7. Ethical Dilemma

a. Resolving Ethical Dilemmas

ILO: Explain what ethical dilemma is; describe the steps in resolving ethical
dilemmas; and apply these steps in resolving dilemmas.
8. Advocacy Against Corruption

a. Corruption, Defined
b. What does Corruption Look Like?
c. Why and How does a Person Become Corrupt?
d. Ill effects of Corruption
e. The Philippine Corruption Report
f. Prevention of Corruption
g. Efforts to Curb Corruption Through Legislation
h. Vigilance of Civil Society

ILO: Understand what corruption is; know how does corruption look like; and
know how corruption may be prevented.
9. Initiatives to Improve Business Ethics and Reduce Corruption

a. The Integrity Initiative Campaign

b. The Unified Code of Conduct for Business

ILO: Be familiar with the Integrity Initiative Campaign and the Unified Code of
Conduct for Business and understand the importance of these in improving
business ethics.
FINALS

10. Risk Management

a. Risk Management, Defined

b. Basic Principles of Risk Management
c. Process of Risk Management
d. Elements of Risk Management
e. Relevant Risk Terminologies
f. Potential Risk Treatments
g. Areas of Risk Management
h. Risk Management Framework
i. Steps in the Risk Management Process

ILO: Define risk management; explain the principles of risk management;

define relevant risk terminologies; and describe approaches in managing risks.
11. Practical Insights in Reducing and Managing Business Risks

a. Understanding the Nature of Risk

b. Identifying and Prioritizing Risk
c. Considering the Acceptable Level of Risk
d. Understanding Why Risk Becomes Reality
e. Applying a Simple Risk Management Process
f. Controlling and Monitoring Enterprise-wide Risk
g. Practical Considerations in Managing and Reducing Financial Risk
h. Practical Techniques to Improve Profitability
i. Avoiding Pitfalls

ILO: Know the basic approach in reducing enterprise wide risk and understand
how to apply the analytical process in managing risk in a business enterprise.
12. Overview of Internal Control

a. Nature and Purpose of Internal Control

b. Internal Control System, Defined
c. Elements of Internal Control

ILO: Explain internal control; describe the nature and purpose of internal
control; define internal control; and explain the elements of internal control.
13. Fraud and Error

a. Types of Misstatement
b. The Fraud Triangle
c. Rationalizing the Fraud
d. Risk Factors Arising from Misappropriation of Assets
e. Risk Factors Arising from Fraudulent Financial Reporting
f. Responsibility for the Prevention and Detection of Fraud

ILO: Explain and differentiate fraud and error and explain misappropriation of
assets and fraudulent financial reporting.
14. Errors and Irregularities in the Transaction Cycles of the Business Entity

a. Sales and Collection Cycle

b. Acquisition and Payment Cycle
c. Payroll and Personnel Cycle

ILO: Understand errors and frauds that may be committed in various business
processes.
15. Internal Control Affecting Assets

a. Internal Control Over:

i. Cash
ii. Financial Investments
iii. Receivables
iv. Inventories and Cost of Goods Sold
v. Property, Plant and Equipment

ILO: Describe the internal control over major components of asses and
understand the potential misstatements of assets caused by weak internal
controls.
16. Internal Control Affecting Liabilities and Equity

a. Internal Control Over:

i. Accounts Payable
ii. Other Debt
iii. Owners’ Equity

ILO: Describe the internal control over major components of liabilities and
equity and understand the potential misstatements of labilities and equity
caused by weak internal controls.