Republic of the Philippines

POLYTECHNIC UNIVERSITY OF THE PHILIPPINES

Office of the Vice President for Academic Affairs
COLLEGE OF ACCOUNTANCY & FINANCE

COURSE SYLLABUS and LEARNING PLAN

COURSE TITLE : FINANCIAL ACCOUNTING AND REPORTING 1

COURSE CODE : ACCO 20033
COURSE CREDIT : 3 UNITS

PRE-REQUISITE : Fundamentals of Accounting & Reporting P-1

COURSE DESCRIPTION : This course provides the review of the of the accounting process and the following topics such as the formation of a partnership, operation
of a partnership (includes the different methods of dividing the profits and losses of the partnership, preparation of the Financial Statements
etc.) , dissolution of a partnership (by admision, retirement, withdrawal of a partner / or partners.)

Institutional Learning Outcomes Programs Outcomes Course Outcomes

1. Creative and Critical Thinking BSA and BSMA graduates must demonstrate the ability to review, interpret, evaluate Upon completion of the course, the students
financial data and systems in compliance with established policies, procedures, will be able to:
guidelines, agreements and/or legislation. a. Have detailed knowledge and
He must be able to link data, knowledge and insight together with different sources and understanding of the accounting
disciplines to make informed decisions. process of a Single Proprietorship for
2. Effective Communication He should possess active listening skills and the ability to communicate effectively both service and merchandising;
one’s point of view, both orally and in writing, at all organizational levels; be able b. Produce the required entries and
to explain verbally and/or writing financial, statistical, administrative financial records of a Single
matters/policies/procedures/regulatory matters/audit results at a level appropriate Proprietorship
to the audience and must be able to negotiate effectively. c. Competence and honesty in the
3. Strong Service Orientation A BSA and BSMA graduate should develop an ability to work in groups, possess performance of accountancy service
4. Passion to Life-Long Learning skills to participate as member of a team or/and contribute to group effort; be d. Demonstrate the qualities of a future
able to teach others new skills; be able to work to the satisfaction of the clients; accountant
negotiate and work with diversity or work well with men and women from diverse e. Skilled in the use of a calculator,
backgrounds.
computer and other business
5. Sense of Personal and Professional Ethics A BSA and BSMA graduate must work with the highest standards of
equipment
professionalism, to attain higher level of performance and generally to meet the
public interest, he must conform to the ethical standards of the profession that
include: Integrity, objectivity and independence, professional competence and

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 due care, confidentiality, professional behavior and moral values.
6. Sense of Nationalism and Global A BSA & BSMA graduate should possess general knowledge in gaining and
Responsiveness understanding of the different cultures in the world and developing an
7. Community Engagement international objective thus, he must possess competency in English language,
adaptability to foreign business practices, level of trainability and good capabilities
in dealing with foreign partners.
8. Adeptness in the Responsible Use of A BSA and BSMA graduate should not only be conversant with IT concepts for
Technology business systems but sound knowledge on internal control in computer-based
systems, development standards and practices for business systems,
management of the adoption, implementation and use of IT, evaluation of
computer business systems, and managing the security information.
9. High Level of Leadership and A BSA and BSMA graduate should possess broad base of knowledge concerning
Organization Skills macro-environmental, economic and industry issues, business process
structures, functions and practices. It includes knowledge in areas such as
economics, quantitative models and busines statistics, organizational behavior,
internation business, ethics and corporate governance.

DETAILED LEARNING PLAN

WEEK NO. OF RESOURCES/

TOPIC LEARNING OUTCOMES METHODLOGIES ASSESSMENT
NO. HOURS REFERENCES

1 3  Orientation on The student will be able to understand  Presentation of the  Subject  Students and
course syllabus; the contents of the course syllabus, grading system; Syllabus parents to sign
grading system; grading system and appreciate the class management  Student the confirmation
class need of instructional materials policies and the rest Handbook letter containing
management of the syllabus the college rules
policies; required & regulaltions
textbook.
 Review of the At the end of the lesson, the student  Lecture  Any local  Oral Recitation
basic concepts of will be able  Shared discussion authored book  Board
accounting  Comprehend the nature,  Graded recitation  Any foreign presentation by
purpose, functions, scope and authored book students of their
objectives of accounting  Other answers to
 Describe the role of accounting instructional assigned
in business, and its specialized Materials exercises and
fields problems
 Differentiate the forms of  quiz on the topic

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 business organizations, types
of business operations and the
users and elements of financial
statements
 Comprehend the generally
accepted accounting principles
2-3 6  Review of the At the end of the lesson the student will  Lecture  Any local  Oral Recitation
accounting be able to recall how to  Shared discussion authored book  Board
process of a  Analyze the effects of business  Board work  Any foreign presentation by
service business transactions on the accounting  Graded recitation authored book students of their
equation  Problem Solving  Other answers to
 Apply the rules of debit and  Case problem on instructional assigned
credit the complete Materials exercises and
 Construct Financial statements accounting cycle of problems
as the end product of the a service enterprise  quiz on the topic
accounting cycle

2-4 6  Accounting for At the end of the lesson, the student  Lecture  Any local  Oral Recitation
Merchandising will be able to  Shared discussion authored book  Board
Business  Have attained a  Board work  Any foreign presentation by
comprehensive understanding  Graded recitation authored book students of their
of the different types of  Problem Solving  Other answers to
Adjusting Journal entries  Case problem on instructional assigned
 Differentiate the the accounting cycle Materials exercises and
activities/transactions affecting of a merchandising problems
the service business from business using  quiz on the topic
those affecting the special journals
merchandising business
 Distinguish between periodic
and perpetual systems and
 Comprehend value added tax
 Identify the nature, purpose
and types of special journals
and to make use of subsidiary
ledgers
 Able to illustrate the
relationship between a control
account and subsidiary ledgers
and be able to prepare
schedules for Account
Receivables and Accounts

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 Payable
 Identify as to which journal
(general or special) will the
transaction be recorded
 Illustrate and prepare
worksheet and financial
statements of a merchandising
business
8-10 9 Nature and Formation of At the end of the lesson the student will  Lecture  Any local  Oral Recitation
a Partnership be able to  Shared discussion authored book  Board
 Define and comprehend the  Board work  Any foreign presentation by
basic characteristics of a  Graded recitation authored book students of their
partnership  Problem Solving  Other answers to
 Weigh the advantages and instructional assigned
disadvantages of a partnership Materials exercises and
as compared to a single problems
proprietorship and a  quiz on the topic
corporation
 Differentiate the accounting
cycle for a partnership as
compared to a sole
proprietorship

11 3 MIDTERM DEPARTMENTAL EXAMINATION

12-14 9  Partnership At the end of the lesson the student will  Lecture  Any local  Oral Recitation
Operation be able to  Shared discussion authored book  Board
 Illustrate the varous methods  Board work  Any foreign presentation by
of distributing profits and loss  Graded recitation authored book students of their
 Analyze the transactions and  Problem Solving  Other answers to
prepare necessary  Practice set initial instructional assigned
transactions preparation/journaliz Materials exercises and
 Prepare the worksheet of a ing problems
partnership  quiz on the topic
 Apply earlier discussions to
prepare the financial
statements of a partnership
15-17 9  Partnership At the end of the lesson the student will  Lecture  Any local  Oral Recitation
dissolution be able to  Shared discussion authored book  Board
 Enumerate the causes of  Board work  Any foreign presentation by
partnership dissolution  Graded recitation authored book students of their
 Recognize whether the  Problem Solving  Other answers to

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 dissolution of the partnership  Completion of a instructional assigned
caused by admission of a new practice set Materials exercises and
partner is by purchase of  Prescribed problems
interest or by investment of Practice set  quiz on the topic
assets for Partnership
 Prepare the necessary entries business
to record the dissolution of a
partnership that is caused by
the withdrawal, death or
incapacity of a partner
18 3 FINAL DEPARTMENTAL EXAMINATION

REFERENCES:

aaAAccounting for Partnership and Corporation, Balbarino, et al. 2018.

Accounting for Partnership and Corporation, Baysa, Gloria & Lupisan, Ma. Concepcion, 2017
21st Century Partnership and Corporation accounting, Manuel, Zenaida Vera Cruz, 2013
Principles of Accounting, 2014 by Baguino, Armando D. et al

PRACTICE SET
 Thunderbird Trucking Services, Balbarino, Melinda & Doquenia, Marietta,
 Practice Set for a partnership form of business

GRADING SYSTEM
Class Standing 70%
Quizzes 70%
Assignments, recitation 10%
Seatwork, files, notebook 10%
Attendance, right conduct 10%
Departmental examination 30%
Total 100%

Final Grade = (1st Grading Period + 2nd Grading Period)

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ATTENDANCE

The allowed number of absences for students enrolled in this subject with once-a-week meeting is 9 hours (3 meetings). Request for excused absences or waiver of absences
must be presented upon reporting back to class. Special examinations will be allowed only in special cases, such as prolonged illness etc. It is the responsibility of the student
to monitor his/her own tardy incidents and absences that might accumulate leading to a grade of “FA,” (Failed due to Absences). It is also his/her responsibility to consult with
the teacher, chair or dean should his/her case be of special nature.

ACADEMIC HONESTY

All BSA/BSMA students are expected to be academically honest. Cheating, lying and other forms of immoral and unethical behavior will not be tolerated. Any student found
guilty of cheating in examinations will (at a minimum) receive a grade of 5.0 in the said test.

Prepared by the Committee on Financial Accounting & Reporting P-1 Syllabus Revision:

ORIGINAL SIGNED ORIGINAL SIGNED ORIGINAL SIGNED

MARIETTA M. DOQUENIA CATHERINE SOTTO MELINDA S. BALBARINO
Member Member Chair

Reviewed by:

ORIGINAL SIGNED ORIGINAL SIGNED

LILIAN DE LA MERCED-LITONJUA GLORIA A. RANTE
Chairperson, Basic Accounting Chairperson, Higher Accounting

Approved by:
ORIGINAL SIGNED
SYLVIA A. SARMIENTO
Dean

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Student’s Copy

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 during the First Semester
of SY 2018-2019. I am fully aware of the consequences of non-compliance with the above-mentioned requirements and expectations.

Printed name and signature of student

Date

---------------------------------------------------------------------------------------------------------------------------
Teacher’s Copy

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 , during the First Semester
of SY 2018-2019. I am fully aware of the consequences of non-compliance with the above-mentioned requirements and expectations.

Printed name and signature of student

Date
Effective School Year 2018-2019