SYLLABUS

COURSE TITLE:
3
COURSE NO.:
PRE-REQUISITE:

FINANCIAL ACCOUNTING AND REPORTING PART I

UNIT/S:

ACCTG 3a
NO. OF HOURS:
ACCTG 2a- Fundamentals in Accounting Part II

3/week

COURSE DESCRIPTION
This course introduces the nature, functions, scope, and limitations of the broad field of accounting theory,
including objectives of financial statements, accounting conventions, and generally accepted accounting principles.
Detailed discussion and application of accounting principles covering the assets in a financial and non-financial aspect as
well as their respective presentation and disclosure is also covered by this course. Different internal controls,
computerized systems, ethical issues, and management of assets associated with such assets are also covered.
PROGRAM OUTCOMES
1.
2.
3.

Prepared students for careers in accounting as professional accountants responsible citizen.

Acquired knowledge, proficiency, and intellectual abilities in order to serve the public as professional
accountant.
Prepared and qualified students to take and pass the CPA licensure examination, international,
government examinations and to obtain employment; and able to cope with the problems they will face
upon as professional accountants.

LEARNING OUTCOMES
Upon completion of the course, the students will be able to:
COGNITIVE
1.
2.
3.
4.
5.
6.
7.

Summarize the concepts and principles relating to financial and non-financial assets.
Differentiate the inventories of service, merchandising and manufacturing companies.
Discuss the different PAS and PFRS involving cash, receivables and property, plant and equipment.
Solve the problems involving the recognition and valuation of receivables.
Prepare bank reconciliation and proof of cash in a particular date using different approaches.
Solve problems and applying the initial and subsequent measurement of property, plant and equipment.
Discuss the financial statement presentation and disclosure of cash, receivables and property, plant and
equipment.

PSYCHOMOTOR
1.
2.
3.
4.
5.

Compute profit or loss using accrual basis of accounting.

Compute for the total assets, liabilities and equity of an entity in a particular date.
Detect and correct errors in recording the transactions.
Manage their time between their academic and extra curricular activities.
Construct different strategies and patterns to facilitate efficiency and effectiveness in solving accounting
problems.

AFFECTIVE
1.
2.
3.

Comply with accounting standards in the preparation of financial statements.

Behave according to the Code of Ethics in his or her everyday life.
Influence other in exemplifying the Christian values he or she learned from the course.

COURSE CONTENT
TOPIC
PRELIM
Orientation
Overview of Accounting
Accounting Process
The Conceptual Framework for Financial Reporting
Cash and Cash Equivalents
Receivables
PRELIMINARY EXAMINATION
MIDTERM
Notes Receivable
Loans Receivable and Receivable Financing
Property, Plant, and Equipment (PPE)
MIDTERM EXAMINATION
FINAL TERM
Subsequent Measurement of Property, Plant and Equipment
Depletion of Mineral Resources

EXPECTED TEACHING
TIME
1 hour
1 hour
1 hour
1 hour
7 hours
5 hours
2 hours
4
6
6
2

hours
hours
hours
hours

6 hours
3 hours

Government Grant
Borrowing Costs
Intangible Assets
Impairment of Assets
FINAL TERM EXAMINATION
TOTAL

1 hour
1 hour
3 hours
2 hours
2 hours
54 hours

TEACHING AND LEARNING ACTIVITIES

Discussion, demonstration and illustration of problems

Communicate effectively with the students
Demonstrate knowledge in the areas of financial accounting and reporting
Consultation
Use of technology support for better teaching

ASSESSMENT TASKS AND TECHNIQUES

Prelim, Midterm, and Final Examinations

Classroom participation
Classroom performance (i.e. Recitation, seatwork, group activities, assignments)

GRADING SYSTEM
Term Exams
Quizzes
Recitation/Seatwork
Total

Prelim (%)
60%
30%
10%
100%

Midterm (%)
60%
30%
10%
100%

Finals (%)
60%
30%
10%
100% = 300%/3 = Final Grade

Computation: (((Total Score/Raw Score) x 50%) + 50) x Percent (i.e. Term Exam = 60%)
REQUIRED TEXTBOOK:

Intermediate Financial Accounting Part IA (2016 edition) by Zeus Vernon B. Millan

Intermediate Financial Accounting Part IB (2016 edition) by Zeus Vernon B. Millan

References:

Financial Accounting Volume 1 (2016) by Conrado T. Valix, Jose F. Peralta and Christian Aris M. Valix

Theory of Accounts Volume 1 (Latest Edition) by Conrado T. Valix and Christian Aris M. Valix

Practical Accounting 1 (Latest Edition) by Conrado T. Valix and Christian M. Valix

Intermediate Accounting 1 by Nenita S. Robles and Patricio M. Empleo

Compilation of Philippine Accounting Standards (PAS) and Philippine Financial Reporting Standards (PFRS)
Prepared by:
MR. JELWIN DL. BAUTISTA
Faculty

MR. JAY BEE Q. SALVADOR

Faculty

Reviewed by:
KATHLEEN ROSE P. YALUNG
Program Head, BSA and BSAT
Approved by:
DR. MARIA VICTORIA C. MONES
Dean, College of Business and Accountancy