ST.

THOMAS MORE COLLEGE – CLARK

TMC Building, New York
St. Villa Sol Subdivision
Angeles City, Philippines
A Professional Business School Tel. No. (045) 321 - 0727

ADVAC 2–ADVANCED ACCOUNTING II

(3 UNITS)

Instructor: GIAN CARLO N. CATAHUM, CPA, MBM, CB, CMITAP, RCA, RBP,LPT
Email Address: giancatahum_cpa@gmail.com
Term: Second Semester, AY 2017-2018
Schedule:
Consultation: By Appointment

Summary:

A continuation of Advance Financial Accounting and Reporting, Part I that deals mainly
in the application of concepts under preparation of consolidated or combined financial
statements, understand financial reporting during liquidation or reorganization of corporate
businesses and introduces student to accounting of foreign currency denominative transaction
and derivatives. Focuses on accounting for branches and agencies; accounting for business
combination; accounting for financially distress corporation; accounting for foreign currency
transactions and translation of financial statements of foreign entity – foreign subsidiaries and
accounting for derivatives. At the end of the course, the students are expected to apply
concepts and procedures for accounting home and branch/s or agency/ies in preparing
combined financial statements; accounting for business combination in preparing consolidated
financial statements; financial reporting under corporate liquidation and reorganization; and
engaging in foreign currency denominated accounting, translation or re-measurements, or both,
and accounting for derivatives. This course will also cover the advanced financial accounting
and reporting for government and not-for-profit organizations such as universities, NGOs and
hospitals accounting and specialized industries like banking, insurance and extractive
industries. A large part of the course covers the Philippine Government Accounting Standards
(PGAS) and the New Government Accounting System (NGAS) prescribed by the Commission
on Audit.

Learning Objectives:

At the end of the semester, the student shall have:

1. To equip students with the knowledge and skills necessary to address the challenges of
the changing business environment.
2. To provide the necessary preparation and excellent academic experience to fulfill the
complex functions of entrepreneurship and business leadership.
3. To develop socially responsible business leaders by improving the national economy
through development of relevant occupations.
4. To continuously act as a reputable work place preferred by teaching and non-teaching
personnel.
5. To develop Christ-centered and excellent professionals who will uphold integrity and
ethical standards of their profession.

References:
 Dayag, 2016, Advance Accounting Volume 2, Lajara Publishing House
 ST. THOMAS MORE COLLEGE – CLARK
TMC Building, New York
St. Villa Sol Subdivision
Angeles City, Philippines
A Professional Business School Tel. No. (045) 321 - 0727

 Other Resources/References Baysa and Lupisan, 2015, Advance Accounting Part 2,

Millennium Books Inc.
 PFRS and PAS compilations
 Hoyle, 2015, Advanced Accounting, McGraw-Hill Education
 Guerrero,2013, Advanced accounting : a procedural approach, GIC Enterprises,
Manila
 Fischer, 2012, Advanced accounting : consolidations, partnerships, and government
accounting,
 South-Western Cengage Learning

Website:
 Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S.
Branches and Agencies of Foreign Banks The Federal Register / FIND81. 039. (Feb 29,
2016).
 Accounting for business combinations and intangible assets :Cocco, Anthony FView
Profile; Moores, TommyView Profile. The CPA Journal72.4 (Apr 2012): 52-57. (Pro-
 Strategic considerations for inter-company accounting Bradford, Davis; Tetrault, Paul.
Accounting Today22.6 (Mar 31-Apr 13, 2013): 14,16.

Schedule:
WEEK TOPIC
1 Class Orientation
2 Home Office and Branch Accounting-General Procedures
3 Home Office and Branch Accounting-Special Procedures
4 Prelims
5 Business Combination-Statutory Merger
6 Business Combination-Statutory Consolidation
7 Statutory Consolidation-Stock Acquisition: Subsequent to Date of Acquisition
8 Statutory Consolidation-Stock Acquisition: Intercompany Sale of Inventories
9 Statutory Consolidation-Stock Acquisition: Intercompany Sale of Plant Assets
10 Foreign Currency Without Hedging
11 Midterms
12 Foreign Currency With Hedging
13 Foreign Operations Financial Statements Translation
14 Non-Profit Organizations and Government Accounting
15 Finals

Grading System:
65% Transmutation Table shall be used

Prelim Grade = [(Class Standing x 2) + Prelim Exam] / 3

Midterm Grade = [(Class Standing x 2) + Midterm Exam] / 3

Final Grade = 70% component [Class Standing + (Final Exam x 2)] / 3

= 30% component (PCPAR Final Pre-board)

Semestral Grade = (PG + MG + FG) /3