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 : ACCOUNTING FOR SPECIAL TRANSACTIONS

COURSE CODE : ACCO 30013

COURSE CREDIT : 3 UNITS

PRE-REQUISITE : ACCO 20053, ACCO 20063 and ACCO 20073

COURSE DESCRIPTION : This course deals with specialized accounting problems likely to be encountered by accountants. The study of the various topics in this
course is based upon fundamental valuation accounting and accounting theory as applied to special income and expense recognition
method and expanded business operations. This course includes specialized problems in partnership accounting; accounting for joint
arrangement and associated enterprises (including IAS no. 28 and IFRS 11 and 15); accounting for domestic branches; accounting for
consignment and installment sales; accounting for long-term construction contracts and franchising.

Institutional Learning Outcomes Programs Outcomes Course Outcomes

1. Creative and Critical Thinking A graduate of Bachelor of Science in Accountancy and Upon completion of the course, the students will be able
2. Effective Communication Bachelor of Management Accounting should be able to: to:
3. Strong Service Orientation a. Demonstrate working knowledge in the areas of a. Apply the fundamental concepts of income
4. Passion to Life-Long Learning financial accounting and reporting, cost accounting and recognition in accounting for installment sales,
5. Sense of Personal and Professional cost management, management accounting, auditing, longterm construction contracts, franchising and
Ethics accounting information systems and accounting consignment
6. Sense of Nationalism and Global research. b. Apply the law on Partnerships and understand
Responsiveness b. Demonstrate self-confidence in performing functions as the essential elements and general aspects in
7. Community Engagement a professional accountant. accounting for partnership formation, division of
8. Adeptness in the Responsible Use of c. Employ technology as a business tool in capturing profits and losses, change in ownership, death
Technology financial and non-financial information, preparing & retirement of a partner, and liquidation of
9. High Level of Leadership and reports and making decisions. partnership
Organization Skills d. Apply acquired knowledge and skills to pass
professional licensure/certification examinations
e. Appraise ethical problems/issues in practical business
and accounting situations and recommend appropriate
course of action that adheres to the professional code
of ethics.

1
DETAILED LEARNING PLAN:
WEEK NO. OF RESOURCES/
TOPIC LEARNING OUTCOME METHODOLOGIES ASSESSMENT
NO. HOURS REFERENCES
Orientation on classroom After orienting the students about Lecture/Discussion Subject syllabus. Elect classroom officers;
policies classroom management policies Prepare Seat Plan for the
and about the topics covered in class;
Discussion of course this course, the learner will be Students to discuss
syllabus able to: expectations from the
 Understand the policies subject.
1 1.0
on attendance, integrity,
grading system and the
contents of the course.
 Elect classroom officers
 Prepare seatplan
st
PARTNERSHIP After discussing the 1 topic, the  Lecture/discussion Instructional Materials in
ACCOUNTING learner will be able to:  Powerpoint presentation Accounting for Special
2.0  Nature, definition  Define different types of  Problem solving Transactions
and characteristics partnership and kinds of  Assignments
of partnership partners  Seatwork Advanced Accounting by
 Formation  Journalize formation of a  Boardwork Baysa and Lupisan, Part 1
 Operation; partnership (partners  Submission of actual
investing for the first time articles of co- Advanced Financial
and existing businesses partnership and financial Accounting and Reporting
forming a partnership) statements of a by Dayag, Volume 1
 Journalize typical partnership business
transactions of a Advanced Accounting by
partnership Guerrero and Peralta,
 Compute and journalize Volume 1
division of profits
 Prepare schedule to show Instructional Materials in
profit distribution-bonus Accounting for Special
and salaries as expenses Transactions
and as share in profit
 Construct statement of
changes in partners’
equity, partnership
balance sheet and
income satement
(showing division of profit)

2
 PARTNERSHIP After discussing the topics, the  Lecture/discussion Instructional Materials in Recitation
DISSOLUTION learner will be able to:  Powerpoint presentation Accounting for Special Boardwork
 Admission of new  Define and characterize  Problem solving Transactions Group work
partner dissolution of a  Assignments
 Retirement or partnership  Seatwork Advanced Accounting by Quiz 1. Test materials
withdrawal of a  Journalize dissolution  Boardwork Baysa and Lupisan, Part 1 regarding partnership
2-3 6 formation & division of
partner cases using bonus and  Groupwork
 Death, incapacity, asset revaluation Advanced Financial profits and losses, and
bacnkruptcy of a methods Accounting and Reporting dissolution
partner  Journalize incorporation by Dayag, Volume 1
 Incorporation of a of partnership and
partnership prepare the balance sheet Advanced Accounting by
immediately after Guerrero and Peralta,
incorporation Volume 1

PARTNERSHIP After discussing the topics, the  Lecture/discussion Instructional Materials in Recitation
LIQUIDATION learner will be able to:  Powerpoint presentation Accounting for Special Boardwork
 Dissolution with  Differentitate dissolution  Problem solving Transactions
liquidation from liquidation of a  Assignment Quz 2. Quiz on liquidation
 Liquidation types – partnership  Seatwork Advanced Accounting by of partnership (basic only)
lump sum and  Journalize the realization  Boardwork Baysa and Lupisan, Part 1 applying sumpsum and
installment of non-cash assets,  Groupwork installment liquidation
 Procedures in payment of liabilities and Advanced Financial
4-6 9 Accounting and Reporting Quiz 3. Quiz on
liquidation final settlement to
 Journal entries partners in lump sum and by Dayag, Volume 1 installment liquidation
and preparation of installment liquidation (advanced problems)
statement  Prepare statement of Advanced Accounting by
liquidation liquidation with supporting Guerrero and Peralta,
schedules of cash Volume 1
distribution (periodic
schedule of payment and
cash priority program)

CORPORATE After thorough discussion of the  Lecture/discussion Instructional Materials in Quiz 4. Quiz on
LIQUIDATION: topics, the learner will be able to:  PPT presentation Accounting for Special Corporate Liquidation
 Statement of  Prepare Statement of  Solving Transactions
Affairs affairs with deficiency problems/exercises –
 Trusteeships schedule aplication of the theory Advanced Financial
Operations  Journalize transfer of  Group work: Analyzing Accounting and Reporting
7-9 9
 Statement of assets from financially more complex by Dayag, Volume 1
Realization and distressed company to problems/cases/situatio
Liquidation trustee ns then present Advanced Accounting by
 Prepare Statement of solutions/findings to Guerrero and Peralta,
Realization and class Volume 1
Liquidation  Assignments
3
 Advanced Accounting by
Baysa and Lupisan
Volume 2

MIDTERM DEPARTMENTAL EXAMINATION

CONSIGNMENT SALES After discussing the topics, the  Lecture/discussion Instructional Materials in Recitation
 Definition, nature learner will be able to:  Powerpoint presentation Accounting for Special Seatwork
and characteristics  Differentiate consignment  Problem solving Transactions Quiz 5. Quiz on
 Accounting for sales from installment  Assignment Consignment and
consignment sales sales  Seatwork PFRS 15 Installment sales
INSTALLMENT SALES  Compute remittance from  Boardwork
10-11 6  Definition, nature the consignee, net  Groupwork Recitation/Boardwork/seat
and characteristics income resulting from work
 submission of actual
 estate dealers consignment transactions financial statements
and value of merchandise showing installment
in the hands of the sales and regular sales
consignee

LONG TERM After discussing the topics, the  Lecture/discussion Instructional Materials in
CONSTRUCTION learner will be able to:  Powerpoint presentation Accounting for Special
CONTRACTS  Define different terms or  Problem solving Transactions
 Nature of accounts used in  Assignments
construction construction contracts  Seatwork Advanced Financial
business  Compute and journalize  Boardwork Accounting & Reporting by
 Definition of terms realized gross profit using  Groupwork Dayag, Volume 1
and accounts percentage of completion  submission of actual
used by method PFRS 15
financial statements
construction  Journalize billings and showing installment
business collections with sales and regular sales
 Percentage of mobilization fee, retention
12-13 6 completion (cost fee and penalty clause
to cost)  Prepare financial
 Long terms statements of a
construction construction company
constracts with
mobilization fee,
retention fee and
penalty clause
 Journal entries
and preparation of
financial
statements

4
 FRANCHISE After discussing the topics, the Instructional Materials in Quiz 6. Quiz on longterm
 Nature and learner will be able to:  Lecture/discussion Accounting for Special construction contracts and
definition  Describe and compare  Powerpoint presentation Transactions franchising
 Methods of the different types of  Problem solving
accounting for franchise arrangements  Assignment PFRS 15
initial franchise fee  Explain how franchise  Seatwork
14-15 6
and related cost of companies derive their  Boardwork
franchise revenue income  Groupwork
prior to substantial  Compare and journalize  submission of sample
performance of the different methods of franchise contracts
service and upon accounting for initial
substantial franchise fee and the
performance of related cost of franchise
services revenues – prior to
substantial performance
and upon-substantial
performance of service

ACCOUNTING FOR After discussing the topics, the  Lecture/discussion Instructional Materials in Quiz 7. Quiz on
HOME OFFICE, learner will be able to:  Powerpoint presentation Accounting for Special journalizing basic home
BRANCHES AND  Define and compare  Problem solving Transactions office/branch transaction
AGENCIES agency and branch  Assignments including reconciliation of
 Nature and  Journalize formation of  Seatwork reciprocal accounts
definition of agency and branch  Boardwork
agency/branch  Prepare financial  Groupwork Quiz 8. Special problems
 Accounting for statements for agency  submission of sample
in branch/home office
agencies and and branch accounting
franchise contracts
branches  Prepare working papers
 Preparation of for combined financial
combined statements with emphasis
finanancial on elimination entries)
16-18 9 statements  Prepare combined
 Reconciliation of financial statements
reciprocal  Journalize interbranch
accounts cash and merchandise
 Special problems transfers (at cost and
in branch above cost)
accounting such  Journalize shipments and
as interbranch returns of merchandise
transfer of cash shipped at above cost.
and merchandise
at above cost;
shipments/returns
of merchandise at
above cost
5
 FINAL DEPARTMENTAL EXAMINATION
54.00

GRADING SYSTEM

Class Standing 70%

Quizzes 70%
Assignments,seatworks, recitation 10%
Practice set 10%
Attendance, right conduct 10%
Departmental examination 30%
Total 100%
st nd
Final Grade = (1 Grading Period + 2 Grading Period)
2

REFERENCES (Reading Materials)

 Baysa, Gloria T., Lupisan Ma. Concepcion. Advanced Accounting
 Dayag, Antonio, Advanced Financial Accounting and Reporting Volume 1, 2019 ed
 Guerrero and Peralta, Advanced Accounting, 2018 ed
 Rante, Liz, Ruado and Binaluyo, Instructional Materials in Accounting for Special Transactions
 CIRC HF 5635 C57 2014, Christensen, Theodore E., Advanced financial accounting, 10 ed., 2014
th

 CIRC HF 5636 T364 2015, Tan Hock Neo, Pearl Advanced financial accounting: an IAS and IFRS approach, 2 2015
nd

 CIRC HF 5636 S85 2014, James D. Stice, Intemediate accounting, 19 ed., 2014
th

 CIRC HF 5636 .H693 2015, Hoyle, Joe Ben, Fundamentals of advanced accounting 6 ed., 2015
th

CLASSOOM POLICIES:

ATTENDANCE

The allowed number of absences for students enrolled in ACCO 30013 with once-a-week meeting is three (3). 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. 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 and 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 or failure in the course requirement or in the course.

6
Prepared by the Committee on ACCO 30013 Syllabus Revision:

Jonald P. Binaluyo Elsa R. Ruado Ma. Delia M. Liz

Member Member Chair

Reviewed by: Recommending Approval by:

GLORIA A. RANTE LILIAN M. LITONJUA

Chairperson, Higher Accounting Dean

Approved by:

Dr. MANUEL M. MUHI

Vice President for Academic Affairs

7
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 ACCO 30013 during the
First Semester of SY 2019-2020. 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 of ACCO 30013 during the
First Semester of SY 2019-2020. 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 2019-2020