Far Eastern University

Institute of Accounts Business and Finance

Accountancy and Internal Auditing Department

Course Information Bulletin (CIB)

LAW1103

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Atty. JOHNSON A.H. ONG, CPA Mid Year 2020 Regulatory Framework and
Legal Issues
 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020

Facilitator Information
Facilitator Name: Atty. JOHNSON A.H. ONG, CPA, MBA
Contact Information: [email protected] / (+63) 998-539-40-22
Availability of the facilitator for Asynchronous Communication: Tuesday and Thursday (9:30 am – 1:30 pm)
Course Information
Course Title: Regulatory Framework and Legal Issues
Course Code and Section: LAW1103
Semester and Academic Year: Mid Year 2020
Prerequisites LAW1101- Law on Obligations and Contracts

Couse Description and Status

Description : This course is the third in the series of three courses that cover the topic on regulatory framework governing
business transactions and business organizations/associations, and of business laws including their legal implications. The
courses provide the learners the knowledge of the pertinent legal provisions, general principles, concepts, and underlying
philosophy of the special laws applicable to commerce and business. This course provides basic knowledge about other laws
on other business transactions, to wit: Negotiable instruments, Bouncing Checks, PDIC Law, Secrecy of Bank Deposits and
Unclaimed Balances, AMLA Law with emphasis on covered transactions, reportorial requirements, unlawful activities,
suspicious transactions, covered institutions/persons, and powers of AMLC. Intellectual Property Law( Law on Patents, the
Law on Trademark, Service Marks and Trade Names, and Copyright), Data Privacy Act, and E- Commerce Act and such other
pertinent laws related to regulatory governing business transactions.
Course Objectives, Learning Outcomes and University Learning Principles
Program Learning Outcomes (PLO)

A graduate of BS in Accountancy and BS Internal Auditing should be able to:

1. Analyze business transactions in accordance with the appropriate accounting and auditing standards, taxation and
business laws.
2. Prepare financial statements and other-related reports in accordance with applicable accounting and auditing
standards, taxation and business laws.
3. Utilize appropriate accounting/auditing information systems in managing business transactions.
4. Identify the features of various business processes of global, e-commerce and emerging markets.
5. Develop a strategic business plan using the management concepts and principles holistically.
6. Interpret the business environment through the use of various financial and management analysis.
7. Evaluate accounting-related topics and contemporary issues through written inquiry and investigation.
8. Apply relevant auditing standards to financial statements audit for reliable communication of results to stakeholders.
9. Act with integrity, objectivity, professional competence and due care, confidentiality and professional behavior in
accordance with Code of Ethics.
10. Prepare income tax returns and other business documents in compliance with regulatory requirements.
11. Pass the licensure examination and global certifications.
12. Demonstrate leadership and interpersonal skills through collaborative work.
13. Communicate effectively in a variety of domain including writing, speaking, listening and reading in the context of
accounting and business.
14. Adapt to changing environment by responding positively to challenges.
15. Manifest the FEU core values - Fortitude, Excellence and Uprightness.
Course Expected Learning Outcomes (CELO)
Upon completion of the course, the students are expected to:

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 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020
Lesson/Topics Course Learning Outcomes
• Course Orientation and At the end of this lesson, the learner will be able to:
Policies, Standards, ▪ imbue the school’s mission, vision.
Guidelines (PSG) ▪ know and understand the policies and requirements for completing the course.
Discussion ▪ explain the relevance of the subject in their profession.
▪ articulate his/her own expectations from this course.
• Administrative matters

Consumer Protection (2 At the end of this lesson, the learner will be able to:
hours) ▪ Explain the consumer product quality and safety
▪ Illustrate the deceptive sales acts and practices
▪ Describe product service and warranty
▪ Illustrate labelling and packaging
▪ Apply consumer rights
Price Tag Act
Lemon Law
Lesson/Topics Course Learning Outcomes
Financial Rehabilitation At the end of this lesson, the learner will be able to:
and Insolvency (5 hours) ▪ Discuss the definition of terms
▪ Elaborate suspension of payments
▪ Describe and apply rehabilitation on:
a) Types
b) Commencement order
c) Stay or suspension order
d) Rehabilitation receiver
e) Management Committee
f) Rehabilitation plan
g) Cram down effect
Discuss and apply liquidation on:
a) Types
b) Conversion of rehabilitation to liquidation proceedings
c) Liquidation order
d) Rights of secured creditors
e) Liquidator
f) Rehabilitation plan
g) Liquidation of plan
Lesson/Topics Course Learning Outcomes
Philippine Competition At the end of this lesson, the learner will
Act (2 hours) be able to:
▪ Discuss the definition and scope of application.
▪ Elaborate and apply prohibited acts
a) Anti-competitive agreements
b) Abuse of dominant position
c) Prohibited mergers and acquisitions
d) Exceptions
▪ Illustrate and apply covered transactions
a) Threshold for compulsory notification
b) Notifying entity
c) Period of notifications
d) Exceptions

Government Procurement At the end of this lesson, the learner will

Law (2 hours) be able to:

▪ Explain the general principles

▪ Discuss the scope and application
▪ Discuss the definition of terms

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Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020
▪ Discuss and apply the procurement procedures
a) Preparation of bidding documents
b) Invitation to bid
c) Receipt and opening of bids
d) Bid evaluation
e) Post-qualification
f) Award, implementation and termination of the contract

PDIC Law (2 hours) At the end of this lesson, the learner will
be able to:
▪ Describe the insurable deposits
▪ Compute the maximum liability
Identify the requirements for claims
Secrecy of Bank At the end of this lesson, the learner will
Deposits (2 hours) be able to:
▪ Explain the purpose
▪ Illustrate the Prohibited acts
▪ Discuss the types of deposits covered
▪ Apply the exceptions
▪ Explain garnishment of deposits including foreign deposits

Truth in Lending Act (2 At the end of this lesson, the learner will
hours) be able to:
▪ Describe the purpose
▪ Illustrate the obligation of creditors to persons to whom credit is extended
▪ Compare covered and excluded transactions
▪ Describe the consequences of non-compliance with obligation

AMLA Law (6 hours) At the end of this lesson, the learner will
be able to:
▪ Discuss the purpose, policies, and principles
▪ Discuss the definition of terms
▪ Determine who are covered persons
▪ Describe money laundering, terrorism and financing and asset forfeiture
▪ Apply and illustrate preventive measures and obligations of covered persons
a) Prohibited accounts
b) Customer due diligence

▪ Explain and apply beneficial ownership

▪ Identify the record keeping requirements
▪ Discuss safe harbor
Intellectual Property Law At the end of this lesson, the learner will
(except provisions under be able to:
Part 1) (2 hours) ▪ Discuss patents
▪ Discuss trademarks, service marks and tradenames
▪ Discuss copyright
At the end of this lesson, the learner will
Data Privacy Act (2 be able to:
hours) ▪ Discuss definitions
▪ Discuss the scope of application
▪ Describe the data privacy principles
▪ Illustrate proper processing of data
▪ Identify the security measures for protection of personal data
▪ Determine the rights of data subject
▪ Apply data breach notification
▪ Discuss outsourcing and subcontracting agreements
▪ Determine registration and compliance requirements

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 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020

Electronic Commerce At the end of this lesson, the learner will

Data (3 hours) be able to:
▪ Describe the application
▪ Discuss the definition of terms
▪ Apply the legal recognition and communication of electronic data messages and
electronic documents
▪ Discuss the electronic commerce in carriage of goods
▪ Explain the electronic transactions in the government

At the end of this lesson, the learner will be able to:

Ease of Doing Business ▪ Explain the policy, construction and interpretation
and Efficient Delivery of ▪ Discuss the definition of terms
Government Service ▪ Discuss the coverage and scope
Delivery Act (2 hours) ▪ Explain reengineering of systems and procedures
▪ Elaborate citizen’s charter
▪ Illustrate accessing government services
▪ Describe the streamlined procedures for the issuances of permits and licenses
Identify the violations, jurisdiction, penalties and immunity
At the end of this lesson, the learner will be able to:
Labor Standards Law (2 ▪ Basic Pay
hours) ▪ Overtime Premium
▪ Night shift differential
▪ Holiday Premium
▪ 13th month pay
▪ Leaves
▪ Service incentive leave
▪ Maternity leave
▪ Paternity leave
Parental leave for solo parent
Social Security Law (2 At the end of this lesson, the learner will be able to:
hours) ▪ Discuss the definition of terms
▪ Explain the scope and coverage
▪ Illustrate pension,retirement and other benefits
▪ Discuss the exemption from tax, legal process and lien
▪ Compute employee’s and employer’s contributions
▪ Compute contributions from self-employed member
▪ Determine the remittance of contributions
▪ Describe the method of collection and payment
▪ Identify the employment records and reports
▪ Describe the penal clauses
OTHER SPECIAL TOPICSOvReview of the following pertinent laws:
1. Central Bank Act
2. Insurance Law

Learning Environment
This course is 15-Module long and offered in modular approach. There are three modes of teaching and learning
depending on the circumstances of the students which are discussed as follows:

OPTION A: Mixed Online Learning (MOL) - Synchronous and Asynchronous Online Learning

• Faculty and students shall meet synchronously between 25% to 75% of the designated class time.
• Complete Course Module (CCM) shall be made available in Canvas.

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 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020
• Highly recommended for all kinds of learners as it will provide most amount of teacher guidance but requires
a stable internet connection.
• Student downloads work via canvas and submits work following agreed-upon schedules.
OPTION B: Asynchronous Online Learning (AOL)

• There are no required classroom sessions per Module, but the students are encouraged to meet with the
faculty for consultation via Canvas.
• There are assignments due on different dates; thus, the students are encouraged to check the calendar on
Canvas for the schedule of activities.
• Recommended only for highly independent and responsible learners with internet connection.
• Student downloads work via canvas and submits work following agreed-upon schedules.

OPTION C: TOTAL Analog Learning (TAL)

• There are no required classroom sessions per Module, but the students are encouraged to meet with the
faculty for consultation.
• Faculty shall prepare a CCM and uploads it to the repository designated by the Academic Affairs Office (AAO)
who will send the modules to the students via courier.
• Recommended only for highly independent and responsible learners with no access to stable internet;
internet access is still necessary.
• Student will receive CCM via courier; student works independently and with no synchronous class
participation. Submission of requirements is done online.

There is no option for students to learn without an internet connection (not even the TAL) as access to the internet
is needed for submissions and consultations and for research.

Student Selection of the Three Modes of Learning

Students are the ones who will decide on the learning mode that best suits them. The tuition is the same regardless
of learning mode but there will be a small logistical charge for those who select TAL (to cover USB and courier).
Regardless of learning mode selected, students will continue to have access to Canvas and the learning opportunities
(discussion threads, lectures, group discussions) will be open to all. This means that students who have selected AOL
or TAL will still be allowed to participate in MOL online activities.

Synchronous meetings

Synchronous meetings should be done at the time designated in the student's Certificate of Registration (COR).

Faculty shall determine when they will meet their students which shall be around 25-75% of the scheduled class
time. This means, for a 3-unit class that normally has 54 hours of classroom meetings, students can expect to meet
their teacher anywhere between 13.5 to 40.5 hours throughout the semester. In terms of class meetings, for a 3-unit
class that meets twice a Module and that will normally have 36 class meetings, students can expect to meet their
teacher anywhere from 9 times to 27 for 1.5-hour classes.

Meetings need not be whole class meetings. Teachers can decide to meet students in smaller groups or individually
or a combination.

Student Submissions
For MOL and AOL, all student submissions are online submissions. For TAL, the default submission mode is online
but other submission arrangements can be arrived at through agreements made between faculty and student. The
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 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020

CCM should contain the faculty's contact details and instructions for and schedule of submission. The student will be
responsible for contacting the faculty. Students who cannot submit online may opt to submit via courier to either the
faculty's residence, the courier service pick-up point nearest the faculty's home (like LBC), or at the faculty's
department office at FEU. This will be at the student's expense and upon agreement with the faculty.

There is no learning option for students without ANY access to the internet. All students will need SOME access. If
they have absolutely no access they cannot proceed. Enrolment in the first place is online. Please note that the extra
expenses incurred by the TAL option are equal to or maybe even less than the expenses of internet service that will
be incurred by students who opt for MOL and AOL.

Student Workload Calculation

APPROXIMATELY 5 hours:

• 3 hours instruction time (Except TAL)

• 2 hours study/ assessment time

Note that this is the minimum workload, it is always encouraged that our students to go beyond the minimum hours
to make our learning process' objectives more attainable.

Faculty members are expected to give timely and constructive feedback. Consultations may be done thru text
messaging or social media.

The grading system for 2nd Semester A.Y. 2020 - 2021 follows the old policies stipulated in Policies and Guidelines
for Grading and Assessment manual released by Academic Affairs Office prior to the October 2018 amended Policies
and Guidelines.

In case of technical difficulties, email our department's helpdesk at [email protected]

Faculty Responsibilities

• At the start of the course, the teacher/facilitator will orient students to their learning environment and
identify the layout of the course within CANVAS, learning objectives, expectations, and outcomes.
• Efficient and effective communication is imperative. Faculty must provide frequent assessments and
feedback to students. Facilitator must also identify when and how students will interact with and contact the
instructor.
• The facilitator must utilize the standardized content of the CANVAS course and additionally develop or adopt
appropriate materials, assessments, class exercises, and any other helpful resources that will assist in
developing a supportive learning community.
• Considering that instruction may be done in an asynchronous format, faculty must provide clear criteria for
course participation (not applicable for TAL).
• Facilitator should intervene in student discussions to keep dialogues from stalling or derailing in case there
is a need to.
• Facilitators are responsible for applying pedagogical practices that are effective in verifying student identity.
• Possible methods used include: Virtual class meetings using video display; Reviewing student writing
samples from written assignments; Routine interaction with the student (through email, phone, and video);
Group assignments, etc.
• Faculty are responsible for noticing changes in student behavior and coursework such as sudden shifts in
academic performance, writing styles, or behaving differently in group assignments.

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 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020

• Faculty are responsible for including information on Academic Dishonesty in their course syllabus.

Student Responsibilities

• Attending the Course Orientation: Whether on-site or online, students must participate in a course
orientation to become accustomed to the learning environment in which the course will operate. If there are
queries relating to the orientation, the student should immediately communicate to the facilitator.
• Reading Course Relevant Documents: It is important that students read all necessary course documents (e.g.,
syllabus, course information bulletin, assignments) to become familiar with course expectations. This will
allow students the ability to properly plan for all course activities.
• “Attending” Class: Students must “attend” the online components of a course just as they would a traditional
course. Class participation is essential to course success. In an online course, student attendance is
considered to be defined as logging into CANVAS regularly and participating in all academic activities
required by the facilitator.
• Organizing and Managing Time: Time Management is essential in an online learning. The student needs to be
well organized and must pay careful attention to the course's schedule and deadlines.
• Academic Honesty: As with traditional classes, academic honesty is a cornerstone of student online
coursework. Far Eastern University's standards of academic honesty and conduct pertain to all online
courses taught at the University.
• Evaluating Computer Setup and Accessing Resources needed: Students are responsible for ensuring that they
have access to required hardware, software, and an Internet connection. Students are also responsible in
gaining access to the required readings.
• Students have the responsibility of maintaining the security of their FEU Email usernames, passwords, and
personally identifiable information.
• Staying in Contact: Student interaction with peers and the facilitator is essential. Students must take
advantage of all the communication options that are available in the course (e.g., email, discussion boards,
chat areas) to facilitate learning and complete projects.

In case of technical difficulties in your access in our CANVAS platform, you may directly contact edtech at
[email protected] or email our department's helpdesk at [email protected]

Assessment Methods

Class Participation Component

• Assessment results on each Activity assignment

▪ Graded recitations
▪ Quizzes

List of Rubrics

• Activity Sheet Rubric – components:

▪ Recitations Rubric
▪ Quizzes Rubric
▪ Case Study/Digest Rubric

• Summative Exams Rubric

Grading System

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 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020
1. Computation of Periodic Grades
CLASS STANDING 50.00%
Average Quizzes (AQ) 60%
Class Participation (CP) 40%
MAJOR SUMMATIVE EXAMINATION (PEx/MEx/FEx) 50.00%
TOTAL 100.00%

2. COMPUTATION OF 1ST PRELIMINARY GRADE (1ST PG)

1st PG ={[AQ (60%) + CP (40%)] 50%} + [PEx (50%)]

3. COMPUTATION OF 2ND PRELIMINARY GRADE (2ND PG) AND MIDTERM GRADE (MG)
2ND PG = {[AQ (60%) + CP (40%)] 50%} +[Mex (50%)]
MG = 1ST PG (1/3) + 2ND PG (2/3)

4. COMPUTATION OF 3RD PRELIMINARY GRADE (3RD PG) AND FINAL GRADE (FG )
3RD PG = {[AQ (60%) + CP (40%)] 50%} + [FEx (50%)]
FG = MG (1/3) + 3RD PG (2/3)

5. TRANSMUTATION LETTER QUALITY

OF FINAL GRADE GRADE POINT
(FG) FINAL GRADE
95.50 – 100.00 A 4.0
91.50 – 95.40 B+ 3.5
88.50 – 91.40 B 3.0
84.50 – 88.40 C+ 2.5
81.50 – 84.40 C 2.0
77.50 – 81.40 D+ 1.5
75.00 – 77.40 D 1.0
Below 75.00 F 0.0

Learning Content and Activities

Learning Formative and Summative Assessments

1. Formative Assessments

a. Activity Sheets

Activity sheets contain discussion questions after each module which the students need to answer based
on the assigned readings and submit to the faculty for feedback.

b. Case Studies/Digest

Case studies/digest help the students in obtaining a clearer understanding on how the Supreme Court
interprets or applies the relevant law provisions in an actual case controversy.

c. Quizzes and Recitations

Quizzes and recitations are designed to test the student's understanding of the principles and concepts

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 Course Code: LAW1103 Course Title: Regulatory Framework and Legal Issues
Effectivity: AY 2020 – 2021 Term: Mid Year 2020
presented in the modules and to determine whether the learning objectives are met.

2. Summative Assessments

Summative assessments are used to evaluate student learning, skill acquisition, and academic achievement
at the conclusion of each grading period – 1st Preliminary Period, 2nd Preliminary Period and Final Period.

REQUIRED TEXTBOOK:
Regulatory Framework and Legal Issues in Business Part 1 - Atty. Andrix Domingo (2019 Edition)
Regulatory Framework and Legal Issues in Business Part 2 - Atty. Andrix Domingo (First Edition)

SUGGESTED READINGS AND REFERENCES:

(for Law professors)

Course Outline and Scheduled Activities

Lesson/Topics
• Course Orientation and Policies, Standards, Guidelines
(PSG) Discussion
• Administrative matters
Week 1 PDIC Law (2 hours)
Secrecy of Bank Deposits (2 hours)
Unclaimed Balances Law
Week 2 AMLA Law (6 hours)
Financial Rehabilitation and Insolvency (5 hours)
Consumer Protection (2 hours)
Week 3 Philippine Competition Act (2 hours)
Government Procurement Law (2 hours)
Truth in Lending Act (2 hours)
MID TERM EXAM
Week 4 Intellectual Property Law (except provisions under Part 1) (2
hours)
Data Privacy Act (2 hours)
Electronic Commerce Data (3 hours)
Week 5 Ease of Doing Business and Efficient Delivery of
Government Service Delivery Act (2 hours)
Labor Standards Law (2 hours)
Week 6 Social Security Law (2 hours)
OTHER SPECIAL TOPICS
FINAL EXAM

Student Support
In case of student concerns, please email our department's helpdesk at [email protected].
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