UNIVERSITY OF NUEVA CACERES
City of Naga
UNIVERSITY VISION
The University of Nueva
Caceres commits itself to
quality and excellent
education for all to transform
the youth into
entrepreneurial, productive,
morally upright, socially
responsible professionals for a
just, humane and progressive
society.
MISSION
The University of Nueva
Caceres shall be a leading
exponent of academic
excellence, research,
extension, and innovative
technology for sustainable
development.
It creates a nurturing
academic environment and
provides equal opportunities
in the formation of individuals
into empowered leaders,
competent professionals and 1. Demonstrate objectivity and
proactive entrepreneurs who
COLLEGE OF BUSINESS AND ACCOUNTANCY
School Year 2015-2016
Course No. : ACC222 Program Educational
Course Title : FINANCIAL ACCOUNTING III Objectives
Credit Units :6 Three-five years after graduation,
Course Pre-requisite : ACC111, ACC121 and ACC211 the BSA graduates are expected
to:
Course Description : have acquired professional
This course is the last part of the series of financial accounting subjects. It competence required in local and
begins with the conceptual framework of the preparation and presentation off-shore training and development
of financial statements prescribed by Financial Reporting Standards Council. as staff or supervisor in
it also covers detailed discussion of different financial statements such as accounting, auditing, consulting,
Statement of Financial Position, Notes, Income Statement, Statement of tax and other related works both in
Comprehensive Income, Statement of Changes in Equity and Statement of local and international industry,
Cash Flows. Lastly, it includes the interim reporting, operating segments,
and hyperinflation and current cost accounting.
have engaged in the practice of
Course Learning Outcome (CLO) the accountancy profession in any
At the end of the course the student should be: of the four sectors: education,
Cognitive Skills public practice, government and
1. Identify and explain the concepts 1. Develop the skills on commerce and industry,
on preparation and presentation of analysis and problem
a complete set of financial have conducted himself in a
solving through accounting
statements. respectable manner that upholds
exercises and problems.
2. Recognize the principles applicable the honor, dignity and integrity of
2. Enhance the skills on accountancy profession by
to accounting in hyperinflationary
communication and adhering to the code of
economy and the concepts on
current cost accounting. interpersonal skills through professional ethics .
various class activities like
Affective recitation, board work and Student Outcomes
discussion, and group At the time of graduation, the BSA
project students are expected to:
integrity in financial reporting by
are cognizant of our rich applying the appropriate 3. Improve their Demonstrate readiness to take and
cultural heritage. financial reporting standards. communication skills and pass the CPA Licensure
2. Develop the sense of interpersonal skills. Examination
Core Values responsibility in doing and
Corporate Social Responsibility Apply critical thinking skills in
completing assigned tasks.
problem solving and exercise
One Global Network decision- making
Respect for the Individual
Work in groups and become an
Empowerment effective team player
Integrity
Recognize the need for personal
Teamwork and professional development

COLLEGE VISION Demonstrate proficiency in the

The UNC College of Business and international financial reporting
Accountancy envisions its standards
graduates as leaders and active
agents in nation building by Communicate effectively both in
entrepreneurship and by honest, oral and in written form
dedicated service in government
and private entities, contributing Demonstrate integrity and
to the improvement of the objectivity in the performance of
quality of life of the Filipino, and duty.
responsive to the demands of
global business environment.

MISSION
The benefits of quality and
excellent business and
accountancy education shall be
made accessible to the youth
through the provision of rich and
diverse curricular programs that
will transform individuals into
competent professionals,
 empowered leaders and
proactive managers and
entrepreneurs possessing the
ideals of competence, integrity
and moral and social
responsibility.

SPECIFIC LEARNING ASSESSMENT LEARNING

TOPICS/CONTENT TIME ALLOTMENT
OBJECTIVE ACTIVITIES STRATEGIES OUTCOMES
Orientation about the 1 hour At the end of this session, the Classroom Group Activity: Each Students are able to
following: students are expected to: Discussion Group will discuss and confidently explain
University Vision, Appreciate the ideals and then present their their ideas relate this
Mission and purpose of the school and Question and articulation of the to their life as students
Objectives (VMO) of the department. Answer method VMO and PEO, and or as would-be
College Vision, Pursue personal objectives cite specific real-life graduates.
Mission and which are consistent to the Assignment- situations on how the
objectives (VMO) school and departmental Write a reflection VMO and PEO can be Evidences:
Course Syllabus objectives (to be skilled paper imbibed among Minutes of classroom
professionals, proactive students and discussions and group
Subject objectives
entrepreneurs&/or graduates. presentations
Course Outline
competent CPA).
Textbook/Reference Each student will Written essays or
s Be responsible in meeting
course requirements. write an essay or reflection papers on
Grading System narrative expression the VMO and PEO
Course of the insights they
requirements have gained from the
Attendance discussions of the
Others (classroom VMO and PEO.
behaviors)
Group Teamwork 60
%
Articulation
Oral
20%
Written
 20%
Total
100%

6 hours

At the end of this session, the Classroom Answers with solutions to

students are expected to: Discussion exercises
Explain the objectives of
the framework Question and
Framework for the Identify the information Answer method
Preparation and needs of the users of
Presentation of financial reports Problem solving Graded Recitation
Financial Statements Explain the underlying and board work Base 40%
Purposes and scope assumptions Content 30
of the framework Delivery 20
Discuss the qualitative
Users and uses of Attitude 10
characteristics of
FS Total 100%
accounting information
Objective of FS Explain the objectives and
Board Work
Underlying elements of FS Base 40%
Assumptions Identify and explain the Content 30
Qualitative and different measurement Format 10
Quantitative bases Delivery 10
Characteristics Explain the capital and Attitude 10
Constraints on 20 hours capital maintenance Total 100%
relevant and concept
reliable information Explain the capital and Quiz Answers with solutions to
Elements of FS capital maintenance Classroom exercises
Measurement bases concept Discussion
Capital and capital Compilation of
maintenance At the end of this session, the Question and Statements of Financial
concepts students are expected to: Answer method Position of various
Enumerate the Graded Recitation companies with students
components of the basic Problem solving insights and analysis.
set of FS and board work Board Work
Financial Statements, Explain the overall
Statement of Financial considerations in the Quiz
Position and Notes to presentation of FS
the Financial Identify the minimum
StatementsPreliminary information that should be
Examination presented on the face of
Components of a SFP
complete set of FS Explain the proper
Overall treatment of the events
considerations in FS after reporting period
presentation Discuss the limitations of
Frequency of SFP
reporting Identify the information
Identification of the that should be disclosed to
FS the notes
Elements of Prepare a properly
13 hours
financial position classified statement of
Minimum financial position Answered or solutions
information on the Emphasize objectivity and Test-taking to theories and
face of statement integrity in financial practical problems in
of financial position reporting the test
Format of Classroom
statement of Discussion Theoretical and Answers with solutions to
financial position practical exam exercises
Events after the Question and
reporting period Answer method Compilation of Income
Notes to FS Statement, Statement of
Limitations of the Problem solving Graded Recitation Comprehensive Income
statement of and board work and Statement of Cash
financial position Board Work Flows of various
At the end of this session, the companies with students
Preliminary students are expected to: Quiz insights and analysis.
Examination Discuss the approaches in
determining income
Income Statement, Identity and explain the
Statement of elements of Income
Comprehensive Income Statement
and Statement of Identify the minimum
Changes in Equity information that should be
Approaches to presented on the face of
income financial statements
measurement 13 hours Identify equity items
Elements of Income Record equity transactions
Statement Theoretical and
Discuss the concepts on
Minimum practical exam
reclassification of non-
information on the current assets held for sale
face of Income Classroom Answered or solutions
and the principles
Statement Discussion to theories and
applicable to discontinued
practical problems in
Statement of operation
Question and Graded Recitation the summative test
Comprehensive Prepare income statement,
Answer method
Income statement of Board Work Answers with solutions to
Components of comprehensive income,
26 hours Problem solving exercises
Shareholders statement of changes in and board work Quiz
Equity equity
Equity transactions Compute and present the Test-taking
Statement of results of discontinued
Changes in Equity operations
Non-current assets Measure assets reclassified
held for sale and as held for sale
Discontinued Theoretical and
Operations practical exam
At the end of this session, the
students are expected to: Graded Recitation
Explain the purpose of
computing EPS Board Work
Compute the basic and
diluted EPS Quiz

Book value and

Earnings Per Share 13 hours
 Purpose
Book value per
share At the end of this session, the
Basic and Diluted students are expected to:
EPS Discuss the importance of Answers with solutions to
the statement of cash Classroom exercises
flows Discussion
Classify cash flow activities Graded Recitation Compilation of Interim
Midterm Examination as operating, investing and Question and Financial Statements of
financing Answer method Board Work various companies with
Differentiate direct and students insights and
Statement of Cash indirect method of Problem solving Quiz analysis.
Flows presenting cash flows from and board work
Significance of the operating activities
statement of cash Compute cash flows
flows provided by or used for
Format of operating, investing and
statement of cash financing activities
flows Prepare the statement of
Reporting format of cash flows
cash flows from 13
operating activities
At the end of this session, the
students are expected to:
Define interim financial
statement and discuss its
purpose
Enumerate the
components of interim Theoretical and
financial report practical exam Answers with solutions to
Semi-final Examination Explain the measurement exercises
Interim Reporting and concepts of revenues and Classroom
Operating Segments expenses for interim Discussion Compilation of
Purpose of interim reporting statements prepared
financial reporting Discuss the purpose of Question and under hyperinflationary
 Minimum segment reporting Answer method economy and current
Components and Explain the basis in cost accounting with
Contents of Interim determining the reportable Problem solving students insights and
Financial Report segment and board work analysis.
Periods covered by Explain the principles on
interim reporting financial reporting in
recognition and hyperinflationary economy
measurement of
revenues and
expenses
Purpose of segment
Answered or solutions
reporting
At the end of this session, the to theories and
definition of
students are expected to: Test-taking practical problems in
operating segment the test
Segments financial Discuss the concepts of
information current cost accounting
determination of Prepare financial
reportable segment statements in
hyperinflationary economy
Prepare financial
Hyperinflation and statements using current
Current Cost cost accounting
Accounting
Definition of
hyperinflation
Financial reporting
in hyperinflationary
economy
Constant peso
accounting
Determination of
monetary and non-
monetary items
Procedures of
restatement of
 accounts
Disclosures
Preparation of
current cost income
statement, financial
position

Final Examination

LIST OF RESOURCES
TEXT BOOK: Financial Accounting II and III C.T Valix,J.F.
Peralta,C.A.M. Valix 2015 edition
Printed Learning Resources Web and other learning resources
BOOKS
Financial Accounting and Reporting: Theory and Problems, http://accountinginfo.com
Robles Nenita, 2014 www.iamaccountant.com
CPA Exam: Theory of Accounts, Conrado Valix, 2010 www.picpa.org.ph
Theory of Accounts, Conrado Uberita, 2012 www.acpae_explorer.org.ph
 Practical Accounting 1, Conrado Uberita, 2010 www.ifrs.com
www.ifrs.org
JOURNALS www.iasplus.com/en/standards
The CPA Journal www.pwc.com/gx/en...reporting/.../index.jht.
The Economist 2012-2015 www.cpajournal.com
Auditing: A journal of Practice and Theory www.accountancylive.com
Journal of Management Accounting Research http://onlineaccountingcolleges.com (the biz learner, top 25 accounting
Financial Analyst Journal journals and publications)

ASSESSMENT SYSTEM AND PERFORMANCE STANDARDS

Evaluation System Grading System
Midterm
Prelims 75-77 3.0
25% 78-80 2.75
Midterm exam 81-83 2.5
25% 84-86 2.25
Class Performance 87-89 2.0
Quizzes 20 90-92 1.75
Presentation/Boardwork /Problem Solving/ 10 93-95 1.5
Recitation/Critiquing 10 96-98 1.25
Learning Diary/Reflection Paper/Projects 10 99-100 1.0
50%
Total
100%

Second Half
Semi-finals
25%
Finals
25%
Class Performance
Quizzes 20
Presentation/Boardwork /Problem Solving/ 10
Recitation/Critiquing 10
Learning Diary/Reflection Paper/Projects 10
50%
Total
100%

Final Grade ( Midterm Grade + Second half ave)/2

Passing rate : 60% of the total number of items in a particular

evaluation

Prepared By: Reviewed by: Approved By:

MICHAEL B. DOMETITA, CPA CERILA C. SANCHEZ, CPA, MBA NORA ELIZABETH F.

MANIQUIZ, CPA, Ph.D
Instructor Program Chair, Accountancy Dean, College of Business and Accountancy