Bohol Northern Star College August 2022

College of Business and Accountancy December 2022

Business and Accountancy 1st SEMESTER

Vision Mission

A pioneering Educational institution in the northeastern part of Bohol To provide highly trained facilitators responsive to the needs of
offering quality education empowered by the virtues of noble hearts, educated the community.
minds, and a helpful hands, to be globally competent.

College Goals

1. To hire skillful and competent Faculty and Staff.

2. To develop students to be refined business professionals and globally competitive.
3. To encourage the Faculty and Staff be involved and Participative in all department activities.
4. To be responsiveness to our students towards the attainment of VMGO of the department. And
5. To trace the economic standard of living and involvement of our Graduates towards social responsibility to the community.

Program Outcomes (from CMO No. 17, s.2017 sec. 6.3)

The graduates have the ability to:

1. Analyze the business environment for strategic direction

2. Prepare operational plans
3. Innovate business ideas based on emerging industry
4. Manage a strategic business unit for economic sustainability
5. Conduct business research

Class Information Instructor’s Information

BSBA -MM 1(Block 4 & 5) WARREN M. AUDITOR

MTW College Instructor

9:30AM – 11:00 AM (BLOCK 5) Per Hour

1:00AM- 2:30 PM (BLOCK 4)
Business Room 2 Mobile Number: 09308250904

1ST SEMESTER S.Y. 2022-2023 [email protected]

Course Information

Course Name CONCEPTUAL FRAMEWORK AND ACCOUNTING Course Code ACCTG 1

STANDARDS
Pre-requisite NONE Course Credit 3 units, (18 weeks, 54 hrs. total)
Subject
Course Requirements
• Major Exams
• Summative quizzes
• Per unit outputs as specified in the assessment
• End of course learning log (reflective journal) and portfolio (compilation of outputs) on the different learning.

Grading System
Assessment Tasks Weight Minimum Average
for Satisfactory
Performance
CO1 Attendance 10% 5%
CO2 Quizzes, Assignments and Research 15% 10%
CO3 Oral Recitation 15% 10%
Project/ Portfolio 20% 15%
Major Examinations (Preliminary 40% 35%
Examination, Mid-term Examination)
100% 75%
Previous (Midterm) Grade = 100% x 40%
 Attendance 10% 5%
CO4 Quizzes, Assignments and Research 15% 10%
CO5 Oral Recitation 15% 10%
CO6 Project/ Portfolio 20% 15%
Major Examinations (Semi-final 40% 35%
Examination(Summary Exam), Final
Examination)
100% 75%

Present (Final) Grade = 100% x 60%

40% Previous Grade + 60% Present Grade = Final Grade

The following table will be used in giving the final grades:

Percentage 74 75- 78 - 81- 84- 87- 89- 92- 95- 98-

Equivalent and 77 80 83 86 88 91 94 97 100
below
Final Grade 5.00 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00

Rubrics will be used for other types of assessment such as oral presentation, simulation, etc.

1 2 3 4 5
BEGINNING DEVELOPING APPROACHIN PROFICIENT ADVANCE
Limited Some Evidence G Commendable Exceptional
Evidence of of Achievement PROFICIENCY Achievement Achievement
Achievement Adequate
Evidence of
Achievement
75 – 80 81 – 86 87 – 88 89 – 94 95 – 100
Course Description POs covered

This course is designed to provide students with knowledge on the current financial reporting framework of 1,2,3,4,5
businesses. This course deals with the financial reporting principles embodied in the Conceptual Framework for Financial
Reporting and the Philippine Financial Reporting Standards (PFRSs), which are issued by the Financial Reporting Standards
Council (FRSC)

POs covered
Course Learning Outcomes

Upon completion of this course, the learners are expected to:

1. Gain appreciation of the financial reporting standards, particularly their development, application and impact to the 1,3,4

business environment.
1,4
2. Demonstrate knowledge, skills, and positive attitudes to the concepts and principles of financial reporting for business

as applied to real life situations.

2,3,4,5
3. Demonstrate knowledge in identifying the appropriate financial reporting standards to apply to specific business

transactions and other events. 2,4

4. Demonstrate skills in applying the principles of the financial reporting standards through problem solving.

Time Intended Learning Outcomes Suggested Teaching & Suggested

Allotment (ILOs) Content Learning Activities Assessment Indicators
 After studying the chapter, students  THE ACCOUNTANCY  Introduction of students, Summative Quiz Educated
be able to: PROFESSION instructor, school (Essay, minds
policies, the course Identification,  Innovation
 Explain the nature of business  CONCEPTUAL FRAMEWORK subject, discussion of Enumeration)  Excellence
 Enumerate and discuss the four Objective of financial the syllabus, the grading
factors of producing goods and reporting system, and the books Assignments
services. to be used.
 Explain the main objective of a (Offline/Online)
business firm. Advanced
Week 1  Self-introduction video
 Describe the types of businesses. Reading/ Research
with expectations
 Understand the legal forms of (Blended)
organization, their advantages
and disadvantages.  Facilitated discussion/
 Describe the business activities Lecturing through
 Enumerate and explain the powerpoint
interest of the different business presentation/ Video
stakeholders. Lecture
(Offline/Online/blended)
Week 2 After studying the chapter, students  CONCEPTUAL FRAMEWORK
be able to:  Oral Reporting Oral recitation
 Qualitative Characteristics (Powerpoint Creativity
 Explain the nature and overall  Financial statements and Presentation) Responsibility
objective of “accounting”. reporting entity (Offline/Online/Blended) Summative Quiz Determination
 Enumerate and explain the  Underlying assumptions (Essay,
types of accounting information.  Elements of financial Enumeration)
 Class discussions &
 Explain how accounting statements interactions/Video
information links economic Recorded discusiion
activities to decision-making. (Offline/Online/Blended)
 Be familiar with the users and
uses of accounting information,
internal and external.
 Appreciate the need for an
accountant’s ethical behavior in
fulfilling his mandate.
  Explain the relationship between
bookkeeping and accounting.
Week 3 Preliminary Examination CHAPTER 1 -5 Preliminary
Examination
After studying the chapter, students  CONCEPTUAL FRAMEWORK
be able to:  Oral Reporting Summative Quiz Helpful Hands
 Recognition and measurement (Powerpoint (Problem Solving) Collaboration
 Describe the conceptual  Presentation and disclosure Presentation)/video Leadership
framework that govern the  Concepts of Capital recorded
financial reporting activity. (Offline/Online/Blended)
 Identify the basic principles, Noble Hearts
 Class discussions & Trustworthiness
assumptions and constraints
interactions/Recorded
in financial reporting.
discussion Educated
 Identify the qualities that
(Offline/Online/Blended) Minds
Week make accounting information
Competency
4 useful.  Board work (Offline)
 Explain the accounting
 Educational games
equation and its elements.
 Analyze the effects of WHERE I BELEONG?
business transactions on the
Students will form a
accounting equation.
group and try to classify
 Illustrate the effect of
the account titles where it
business transactions in the
belongs. (Offline)
financial statements.
Submit list of account
titles classified in Assets,
Liabilities, Equity,
Expenses and Income.
(Online/Blended)
  After studying the chapter,  PRESENTATION OF Helpful Hands
students be able to: FINANCIAL STATEMENTS  Oral Reporting Summative Quiz Collaboration
(Powerpoint (Preparing Teamwork
 Explain briefly the elements PAS 1 Presentation) Financial
related to the financial  Statement of financial position (Offline/Online/Blended) Statements) Noble Hearts
statements.  Statement of Comprehensive Accountability
Income  Facilitated discussion/ Kindness
 Give and describe at least Lecturing / Video Assignment Optimism
three examples of accounts in PAS 7 Lecture
each element of the financial  Statement of Cashflows (Offline/Online/blended) Educated
statements. Minds
Knowledge
 Be familiar with the financial  Think, Pair, Share Determination
statements of the various Students will be given Competency
types of businesses. problems for the
Week 5
preparation of financial
 Know the importance and the statements and find a
relationship of the financial partner to pair their
statements. works and share it in
the class.
(Offline/Online/Blended)

Week  After studying the chapter, PAS 8

6 students be able to:  ACCOUNTING POLICIES, Oral Reporting (Powerpoint Summative Quiz
 Describe the accounting ESTIMATES AND ERRORS Presentation) (Journalizing and Educated
 information (AIS) is. (Offline/Online/Blended) Posting) minds
PAS 10  Innovation
 Explain the basic functions  EVENTS AFTER REPORTING Facilitated discussion/  Excellence
essential elements of an AIS. PERIOD Lecturing / Video Lecture Oral Recitation  Responsibilit
(Offline/Online/blended) y
 Describe the features and PAS 24 Advanced Reading
characteristics of an effective  RELATED PARTY Board work (Offline) (Books/ Online)
AIS. DISCCLOSURES To be done online or
submitted via
 Explain briefly the structure GCR/messenger
of an AIS. (Online/Blended)

 Describe the basic

Computerized AIS.

 Understand who is
responsible for designing and
installing a business firm’s
AIS.

 Describe the tools and

processes comprising the AIS.
Week 7 After studying the chapter, students PAS 2  Watch a video Patience
be able to: INVENTORIES presentation on Oral recitation Attentive
 Describe the complete Accounting Processing from the video Competency
accounting processing cycle PAS 15 Cycle presentation.
(APC). PROPERTY, PLANT AND (Offline/Online/Blended)
 Enumerate and explain the EQUIPMENT Summative Quiz
major steps in the accounting  Facilitated discussion/ (Problem Solving)
processing cycle and their PAS 20 Lecturing
objectives. GOVERNMENT GRANT (Offline/Online)
Assignment
 Apply the accounting
processing cycle to a service
company in a sole
proprietorship setting.
Week 8-9 After studying the chapter, students PAS 23 Helpful Hands
be able to: BORROWING COSTS Collaboration
 Facilitated discussion/ Summative Quiz Teamwork
Explain the operating cycle of PAS 28 Lecturing / Video (Preparing
a merchandising company INVESTMENT IN ASSOCIATES Lecture Financial Noble Hearts
and its major activities. (Offline/Online/blended) Statements on Accountability
 Describe the major activities PAS 36 Merchandizing) Kindness
for a merchandizing or IMPAIRMENT OF ASSETS  Brainstorming Optimism
trading company. Group works
 Understand the basic PAS 38 (Offline/Online) Educated
concepts of inventory INTTANGIBLE ASSETS Minds
accounting.  Seatwork Knowledge
 Describe the two approaches (Offline/Online/blended) Determination
in accounting for Competency
merchandising transactions.
 Prepare the financial
statements of a trading
concern.
 Apply the accounting
processing cycle to a
merchandising firm using the
two approaches.
Week 10 Midterm Examination CHAPTER 6-20 Midterm
Examination

Week 11- After studying the chapter, students PAS 40  Oral Reporting Summative Quiz Innovation
12 be able to: INVESTMENTPROPERTY (Powerpoint (Problem Communication
Presentation) Solving) Competency
 Describe how accounting system PAS 41 (Offline/Online/Blended) Responsibility
cope with transaction loads. AGRICULTURE Attentiveness
 Rationalize the need for special  Facilitated
journals and subsidiary ledgers. PAS 37 discussion/ Assignment
 Explain the relationship between PROVISION, CONTINGENT Lecturing / Video
control accounts and subsidiary LIABILITY AND ASSET Lecture
 ledgers. (Offline/Online/blended)
Describe and the use the PAS 32
Accounts receivable and FINANCIAL INSTRUMENTS-  Board work
Accounts payable subsidiary PRESENTATION (Offline)
ledger. To be done online or
 Apply the accounting processing submitted via
cycle in a merchandizing GCR/messenger
business using the special (Online/Blended)
journals.
Week 13- After studying the chapter, students PAS 12  Facilitated discussion/ Summative Quiz Educated
14 be able to: INCOME TAXES Lecturing / Video (Problem Minds
Lecture Solving) Knowledge
 Describe and explain the nature PAS 19 (Offline/Online/blended) Competency
and operations of manufacturing EMPLOYEE BENEFITS
companies. Helpful Hands
 Understand the nature of PAS 33  Peer Tutorial/ Online Collaboration
inventories of a manufacturing EARNINGS PER SHARE Group Discussion Teamwork
concern. (Offline/Online/Blend
 Explain the elements of PAS 34 ed) Noble Hearts
production costs. INTERIM FINANCIAL REPORTING Accountability
 Prepare the statement of cost of Kindness
goods manufactured and sold.
 Prepare and explain the
statement of income of a
manufacturing company.
Week 15 SEMI- FINAL EXAMINATION CHAPTER 21-28 Semi- Final
Examination

Week 16- After studying the chapter, students PFRS 1  Facilitated discussion/ Oral Recitation Teamwork
17 be able to: FIRST TIME ADOPTION OF PFRS Lecturing / Video Collaboration
Lecture Summative Quiz Competency
 Explain the nature and purpose PFRS 2 (Offline/Online/blended) (Prepare a Attentiveness
of classifications in financial SHARE-BASED PAYMENT classified balance
statements.  Board work/ Group sheet, multi-step
  Discuss the quality of a PFRS 5 Work (Offline) and single-step
company’s earnings, assets, NONCURRENT ASSETB HELD FOR To be done online or income statement)
and working capital. SALE submitted via
 Prepare a classified balance DISCONTINUED OPERATION GCR/messenger
sheet and compute widely used (Online/Blended) Portfolio
measures of liquidity and credit PFRS 6 (Containing all
risk. EXPLORATION AND EVALUATION output in
 Prepare a multi-step and a OF MINERAL RESOURCES accounting cycle
single-step income statement and preparation of
and compute widely used financial
measures of profitability. statements)

Week 18 PFRS 8
OPERATING SEGMENTS

PFRS 9
FINANCCIAL INSTRUMENTS
Measurement of financial asset

PFRS 13
FAIR VALUE MEASUREMENTS

PFRS 15
REVENUE FROM CONTRACTS
WITH CUSTOMERS

PFRS 16
LEASES
 FINAL EXAMINATION FINAL
EXAMINATION
CHAPTER 29-39

List of References

Cabrera, M.B. & Cabrera, G.B. (2019). Financial Accounting and Reporting Fundamentals. C.M. Recto Avenue Manila, Philippines: GIC ENTERPRISES & CO.,
INC.
Millan, Z.V. (2022) Financial Accounting and Reporting Fundamentals (2 nd Ed.). https://www.studocu.com

https://www.youtube.com/watch?v=0HBPIeFdjfg

https://pdfcoffee.com/qdownload/financial-accounting-and-reporting-fundamentals-2nd-edition-zeus-vernon-millan-financial-accounting-and-reporting-
fundamentals-2nd-edition-zeus-vernon-millan-pdf-free.html

Descriptions of Assessment Methods

Assessment Method Description

Facilitated Discussions The facilitator assists the parties to prepare for and engage in a conversation to identify and clarify the issues that
are at stake.
 Video Lecture/Lesson A video lesson or lecture is a video which presents educational material for a topic which is to be learned. The
format may vary. It might be a video of a teacher speaking to the camera, photographs and text about the topic
or some mixture of these. 
Advanced To be able to be ahead in development, knowledge, progress, etc. 
Reading/Study/Research
Library/Online research This involves the systematic gathering of information in order to write a paper, create a presentation, or complete
a project. The students should also do their own research to add up what they have already learned.

Portfolio Making/Case Study A portfolio is a collection of self-chosen work that exhibits a student’s effort, progress and achievement. Examples
of evidence criteria include: selection, organization, reflection, alignment, connection with learning outcomes,
creativity, and reflection exhibiting depth, breadth and growth of student’s cognitive and emotional skills

Summative Quizzes Tests what has been learnt, the extent of the students’ knowledge on a particular topic. Often held at the end of a
topic or session.

Prepared by:
WARREN M. AUDITOR
Instructor

Recommending for Approval:

ELVIE G. RANOLLO, CPA, MPA
Dean/Program Head

Approved by:
LEONARDA D. LOAYON, Ed.D
School President