COLLEGE OF ST.

JOHN - ROXAS
Member: Association of LASSAI- Accredited Superschools (ALAS)
Gov. Atila Balgos Ave.. Banica, Roxas City

Flexible Learning Plan Course Syllabus

ACCOUNTING ENHANCEMENT
Course Title PROGRAM: FINANCIAL Year Level 3rd Year Level Term Second Semester
ACCOUNTING AND REPORTING
Instructor Miles Nicko Santos Phone Number 09063369187 Email Address [email protected]
Financial accounting and reporting deals with the preparation and presentation of financial reports in accordance with the financial reporting
framework. It covers understanding and application of accounting standards relating to nature and composition of accounts, initial recognition,
measurement, and presentation in the financial statements.
Course Description
This course enhances the learners’ proficiency in applying the principles of financial accounting and reporting, that are based on the
International Financial Reporting Standards. It prepares the learners to deal with simulated questions in the CPA Licensure Examination and
other international certification examinations.

Course Learning outcomes At the end of the course, learners are expected to evaluate issues concerning financial accounting and reporting as a preparation for the
Philippine CPA licensure examinations and international certifications, and generally they are expected to:

A. Cognitive

 Recognize the initial measurement, subsequent measurement and other accounting treatment of specific accounts found in the
financial statements;
 Identify the related accounting standard in which the accounts in question belongs and apply the necessary treatment for
accounting resolution;
 Analyze the accounting problems to arrive at a logical conclusion on how such circumstances can be resolved;
 Deduce from the facts given in a particular scenarios of accounting issues the suppressed information which might be helpful in
determining the accounting computation to be made;
 Reconstruct the data which are disintegrated and convert them into a useful information such as the preparation of financial
 statements;
 Recall the brief history of international and local accounting standard-setting bodies and the regulation of the accountancy
profession in the Philippines;

B. Psychomotor

 Perform skillfully accounting computations in an electronic calculator;

C. Affective

 Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing
functions as an accountant; and
 Demonstrate the values of propriety, righteousness, incorruptibility, and honor.

3 Prerequisite Instructional Delivery 36 hours Number of 8

Requirements/ Resources
Week Delivery of Learning
TOPIC OBJECTIVES outputs/ (Links/Supplementary
Number instruction Strategies
Assessments reading materials
1-2 1. Equity  Identify the applicable Comprehensive Practical PAS 32, PFRS 7, PFRS 2, Visual lectures,
1.1 Share Capital Transactions standards on equity; and procedural exercises, MCQ- PAS 33 demonstration
(PAS 32, PFRS 7)  Account for share approach of based questions of accounting
1.2 Dividends (IFRIC 17) issuance, retirement of accounting techniques,
1.3 Retained Earnings shares, and reacquisition techniques with recall, and
1.4 Other Comprehensive clear instructional concept-
of shares
Income objectives and mapping
1.5 Book Value per Share and  Identify the components
of other comprehensive sequencing thru
Earnings per Share
income and the Google Slides,
1.6 Share-based Payments
(PFRS 2) reclassification to Meet
retained earnings
 Identify the different
types of dividends and
apply the necessary
 accounting treatment;
 Compute for the BVPS,
basic EPS and diluted
EPS;
 Account for the share-
based payment
transactions

3-4 2. Special Topics in FAR  Identify the interest Comprehensive Practical PAS 23, PFRS 16, PAS Visual lectures,
2.1 Borrowing Costs (PAS 23) incurred of an entity and procedural exercises, MCQ- 12, PFRS 14, PAS 19, demonstration
2.2 Leases (PFRS 16) which qualifies as a approach of based questions PAS 26, PAS 34, PAS 24, of accounting
2.3 Income Tax (PAS 12, borrowing cost; accounting PFRS 8 techniques,
PFRS 14)  Account for lessee techniques with recall, and
2.4 Employee Benefits (PAS accounting, lessor clear instructional concept-
19, PAS 26) accounting, and sales objectives and mapping
2.5 Interim Reporting (PAS 34, and leaseback in sequencing thru
PAS 24) accordance to IFRS 16; Google Slides,
2.6 Segment Reporting (PFRS  Reconcile book-to-tax Meet
8) income and vice versa
2.7 Cash to Accrual Basis and identify the
permanent and
temporary differences;
 Describe the nature and
content of financial
statements in interim
reporting;
 Identify the operating
segments qualified for
segment reporting
 Apply and use the T-
account approach in
reconciling cash to
accrual basis and vice
versa

5-6 3. Liabilities  Identify the liabilities Comprehensive Practical IFRIC 1, PAS 32, PAS Visual lectures,
3.1 Financial Liabilities included in trade and procedural exercises, MCQ- 39/PFRS 9, PFRS 7, PAS demonstration
3.1a Accounts payable and payables and other approach of based questions 37, PFRS 15 of accounting
 other trade payables liabilities account; accounting techniques,
3.1b Debt restructuring  Describe the modes of techniques with recall, and
3.2 Non-financial Liabilities debt restructuring and its clear instructional concept-
3.2a Premiums, warranties, accounting effect to objectives and mapping
loyalty programs carrying amount of the sequencing thru
3.2b Unearned revenues for liability Google Slides,
gift certificates  Account premiums, Meet
warranties, and unearned
revenues

7 MOCK-BOARD EXAMINATION 1
8-9 4. Non-financial assets  Explain the initial Comprehensive Practical PAS 2, PAS 16, PAS 38, Visual lectures,
4.1 Inventories (PAS 2) recognition, subsequent and procedural exercises, MCQ- PAS 40, PAS 23, PAS 41, demonstration
4.2 Property, plant and measurement, and other approach of based questions PAS 20, PAS 36, PFRS 5, of accounting
equipment treatments in inventory; accounting PFRS 6, PFRS 13 techniques,
4.3 Investment Property  Explain the initial techniques with recall, and
4.4 Intangibles recognition, subsequent clear instructional concept-
4.5 Biological Assets measurement, and other objectives and mapping
4.6 Non-current Assets Held treatments in property sequencing thru
for Sale plant and equipment; Google Slides,
 Explain the initial Meet
recognition, subsequent
measurement, and other
treatments in intangible
assets;
 Explain the initial
recognition, subsequent
measurement, and other
treatments in biological
assets
 Explain the initial
recognition, subsequent
measurement, and other
treatments in non-current
asset held for sale
10-11 5. Financial Assets  Identify the items which Comprehensive Practical PAS 7, PAS 32 & 39, Visual lectures,
5.1 Cash and cash equivalents qualify to be part of cash and procedural exercises, MCQ- PFRS 9, PFRS 7, PAS 28 demonstration
5.2 Loans and receivables and cash equivalents approach of based questions of accounting
 5.3 Investment in debt and  Explain the initial accounting techniques,
equity instruments recognition, subsequent techniques with recall, and
5.3a Financial assets at measurement, and other clear instructional concept-
FVPL treatments loans and objectives and mapping
5.3b Financial assets at note receivables; sequencing thru
FVOCI  Describe the accounting Google Slides,
5.3c Financial assets at treatment of equity and Meet
amortized cost debt securities
5.4 Investment in associates

12-13 7. Presentation of Financial  Prepare the financial Comprehensive Practical PAS 1, PAS 8, PAS 10, Visual lectures,
Statements statements in accordance and procedural exercises, MCQ- PAS 7, PFRS 5, PAS 33, demonstration
7.1 Statement of Financial to PFRS; approach of based questions PFRS 15, Conceptual of accounting
Position  Identify the sub-accounts accounting Framework for Financial techniques,
7.2 Statement of included in the financial techniques with Reporting recall, and
Comprehensive Income statements; clear instructional concept-
7.3 Statement of Cash Flows  Prepare the cash flow objectives and mapping
7.4 Statement of Changes in statement using direct sequencing thru
Equity and indirect method; Google Slides,
7.5 Notes to Financial  Recall the different Meet
Statements financial reporting
frameworks in the
8. Development of Financial Philippines;
Reporting Framework/Standard-  Recall the accounting
Setting Bodies/Regulation of process on
the Accountancy manufacturing,
Profession/Conceptual merchandising, and
Framework for Financial service-oriented entities;
Reporting/Accounting Process  Describe the accounting
profession and its
regulation in the
Philippines
14 MOCK-BOARD EXAMINATION 2

GRADING:

Mock-Board Examinations 40%

REFERENCES:
 BOA Resolution 1, Series of 2019, CPA Licensure Examination Syllabus for Financial Accounting and Reporting effective May 2019
 Valix, C.T., Valix, C.A.M., Theory of Financial Accounting (CPA Examination), 2018 Edition, GIC Enterprises & Co., Inc.
 Valix, C.T., Valix, C.A.M., Practical Financial Accounting Reporting Volume 1, 2019 Edition, GIC Enterprises & Co., Inc.
 Valix, C.T., Valix, C.A.M., Practical Financial Accounting Reporting Volume 2, 2019 Edition, GIC Enterprises & Co., Inc.
 Millan, Zeus Vernon B., Intermediate Accounting 1, 2019 Edition, Bandolin Enterprise
 Millan, Zeus Vernon B., Intermediate Accounting 2, 2019 Edition, Bandolin Enterprise
 Millan, Zeus Vernon B., Intermediate Accounting 3, 2019 Edition, Bandolin Enterprise