Republic of the PhilippinesUNIVERSITY OF EASTERN PHILIPPINES

COLLEGE OF BUSINESS ADMINISTRATIONDepartment of Accountancy

University Town, Northern Samar COURSE SYLLABUS

1st Semester: SY 2015-2016

I. Vision :

A world-class university.

II. Mission :

To develop the learners into well-rounded persons imbued with an enlightened sense of nationalism, and a strong commitment to service, globally relevant, honest, hardworking, competent, efficient and effective accelerators of progress.

III. Goals :

To provide quality education through instruction, research, extension and production in the fields of Accountancy, Business Economics, Cooperatives, Entrepreneurship, Hotel and Restaurant Management, Management, Marketing and other business related courses.

IV. Objectives :

1. To provide a means for the students to acquire adequate accounting education and training so that after graduation they can pass the CPA Licensure Board Examination and/or be employed immediately in business industry and in government.

2. To provide the students the adequate knowledge, proficiency, and intellectual abilities in the field of Accountancy for them to grow into fully qualified professionals.

3. To provide a means to develop the students’ critical thinking, research ability, moral character, personal discipline and other desirable traits for them to be an asset to the community, the industry, in government and the nation as a whole.

V. Course Number : Accounting 10VI. Course Title : Advanced Accounting 1VII. Credit Units : 3 Units VIII. Time Duration : 54 Hours

IX. Objectives :Upon completion of this course, students should be able to:1. Understand the concepts of and apply the accounting procedures for recording and

reporting transactions of partnerships, joint venture enterprises, consignment sales, installment sales, long-term construction contracts, franchise fees, branches and agencies, fire insurance and build-operate-transfer schemes

2. Be prepared for CPA licensure examination topics related to accounting for partnerships, joint venture enterprises, consignment sales, installment sales, long-term construction contracts, franchise fees, branches and agencies, fire insurance and build-operate-transfer schemes

X. Course Content :

LEARNING CONTENT/SUBJECT MATTER TIMEALLOTMENT

0. Subject Orientation 1 hrValue Aim/s:

To elicit and instil love for the school and degree program from the students0.1. Mission, Vision, Goals and Objectives0.2. Class Policies0.3. Course Syllabus

1. Partnership – Nature, Formation and Operations 6 hrsValue Aim/s:

To understand the nature and characteristics of a partnership and to record and report transactions relating to its formation and operations1.1 Nature, definition, characteristics1.2 Formation1.3 Operation1.4 Financial statements preparation

2. Partnership Dissolution 6 hrsValue Aim/s:

To identify the reasons for dissolution of a partnership and to record and report the dissolution in the partnership’s book of accounts2.1. Admission of new partner2.2. Retirement or withdrawal of a partner2.3. Death, incapacity, bankruptcy of a partner2.4. Incorporation of a partnership

3. Partnership Liquidation 8 hrsValue Aim/s:

To identify and familiarize with the methods of liquidation and how to record and report the liquidation in the partnership’s book of accounts3.1. Dissolution with liquidation3.2. Liquidation types – lump sum and instalment3.3. Procedures in liquidation3.4. Journal entries and preparation of statement of liquidation

4. Consignment Sales 3 hrsValue Aim/s:

To understand the nature of consignment sales and the accounting procedures to record and report related transactions4.1. Definition, nature, characteristics4.2. Accounting for consignment sales

5. Installment Sales 6 hrsValue Aim/s:

To understand the nature and characteristics of an installment sales contract and the accounting procedures to record and report installment sales5.1. Definition, nature, characteristics5.2. Installment sales method – real estate & merchandise5.3. Procedures for calculating realized gross profit5.4. Financial statements preparation with allocation of cost of goods sold5.5. Special problems in installment sales (defaults and repossessions, trade-ins,

interest on unpaid balance)5.6. Installment sales for real estate dealers

6. Accounting for Long-Term Construction Contracts 6 hrsValue Aim/s:

To understand the nature of the construction business, construction contracts, and the accounting procedures to record and report related transactions6.1. Nature of construction business6.2. Definition of terms and accounts used6.3. Percentage of completion / cost recovery method6.4. Journal entries and preparation of financial statements

7. Accounting for Franchise Fee 6 hrsValue Aim/s:

To understand the nature and characteristics of the franchising business and the accounting procedures to record and report its transactions7.1. Nature and definition7.2. Methods of accounting for initial franchise fee and related cost of franchise

revenue [Prior to substantial performance of services, Upon substantial performance of services (accrual & installment sales method)]

8. Joint Arrangements (PFRS 11) 6 hrsValue Aim/s:

To understand the nature and forms of joint arrangements and the accounting procedures to record and report related transactions8.1. Nature, forms and structure8.2. Joint operations and joint venture8.3. Investment in joint venture for SMEs

9. Accounting for financially distressed corporations 6 hrs9.1. Corporate liquidation9.2. Reorganization9.3. Troubled debt restructuring

XI. Course Requirements :Evaluation of the students’ performance in this course will be based on the following

criteria: Class Participation- Group and Individual Projects and Reports (30%), Quizzes- Written and Oral(30%), Mid-term examination and Final examination (40%).

The Table of Specification for the Mid-Term Examination is given below:CHAPTER Hours

AllotedNumber of Questions in the Different Levels of Difficulty

Total Number of Questions by Chapter

Medium (50%) Difficult (50%)

1 6 hrs 4 4 82 6 hrs 4 4 83 8 hrs 5 5 104 3 hrs 2 2 45 6 hrs 5 5 10

Total 29 hrs 40

The Table of Specification for the Final Examination is given below:CHAPTER Hours

AllotedNumber of Questions in the Different Levels of Difficulty

Total Number of Questions by Chapter

Medium (50%) Difficult (50%)

6 6 hrs 5 5 107 6 hrs 5 5 108 6 hrs 5 5 109 6 hrs 5 5 10

Total 24 hrs 40XII. Methodologies/Techniques :

Lecture

Quizzes and examinationsBoard WorkSeat WorkMicro-teachingProblem SolvingBrainstorming

XIII. Textboook/References :

Advanced Accounting One – Principles and Procedural Applications byPedro P. Guerrero and Jose F. Peralta

Advanced Accounting Volume I by Antonio J. Dayag

Prepared by:

JOAN T. ESPONILLAFaculty Member, Accountancy Department

Noted by:

JADE B. TAN, CPA, MBAChair, Accountancy Department

Approved:

AURORA A. CALADES, DBADean, College of Business Administration