University of the Philippines Visayas Tacloban College

Division of Management
BA 118.1: Advanced Accounting 1
1sem 2018-19 Section FN, 2:30-4:00 MTThF @ DM22 Prof. Arvin L. de Veyra
aldeveyra1@up.edu.ph

Course description This course is designed for accountancy students who already finished the core basic financial
accounting subjects. Focus will be on specialized and advanced accounting situations to be discussed in
theory and simulated in practice through sample problems.
Course goals At the end of the semester, the students are expected to understand, discuss the nature of and be able to
do the relevant computations related to specialized accounting situations concerning partnerships, joint
ventures, corporate liquidation, installment sales, long-term construction contracts & franchise.
Course Outline
Objectives Topics References/Readings
*The student should know &
Part I: Accounting for Partnerships
comprehensively understand the 1. Formation Chapter 1
Sessions accounting issues related to partnership 2. Operations: Distribution of Profits Chapter 2
1-9 accounting. and Losses Chapter 3
*The student should be able to quickly 3. Changes in Ownership and Form Chapter 4
analyze & answer short partnership 4. Liquidation: Lump-sum and Chapter 5
accounting problems.
Installment
*The student should know &
comprehensively understand the
accounting issues related to joint
venture accounting. Part 2: Joint Arrangements
Sessions
*The student should be able to prepare 1. Joint Operations Chapter 6
10-15 entries for joint venture transactions. 2. Joint Venture PFRS 11
*The student should be able to quickly 3. Joint Arrangements for SMEs
analyze & answer short problems
about income computation, settlement
and consolidation.
*The student should know &
comprehensively understand the
accounting issues related to
corporations in financial difficulty. Part 3: Corporations in Financial
Sessions *The student should be able to prepare Difficulty
entries related to corporate liquidation, Chapter 7
16-21 1. Corporate Liquidation
reorganization & debt restructuring. Chapter 8
*The student should be able to quickly 2. Reorganization & Debt
analyze & answer short problems Restructuring
about the Statement of Affairs,
Statement of Liquidation,
reorganization and restructuring.
*The student should know &
comprehensively understand the
accounting issues related to
installment sales. Part 4: Installment Sales
*The student should be able to prepare 1. Gross Profit Recognition
Sessions
entries related to using the installment 2. Default and Repossession and Chapter 9
22-27 method. Trade-in IAS 18 / PFRS 15
*The student should be able to quickly 3. FS Presentation
analyze & answer short problems
about gross profit realization under the
different gross profit recognition
methods.
*The student should know &
comprehensively understand the
accounting issues related to long-term
construction contracts. Part 5: Long-term Construction
*The student should be able to prepare Contracts
Sessions
entries related to using the completed 1. Completed Contract Method Chapter 10
28-33 contract & percentage of completion 2. Percentage of Completion IAS 11 / PFRS 15
methods. 3. Long-term Construction Contracts
*The student should be able to quickly
for SMEs
analyze & answer short problems about
gross profit realization under both
methods.

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 *The student should know &
comprehensively understand the
accounting issues related to franchise
accounting. Part 6: Franchise (Franchisor)
Sessions *The student should be able to prepare
1. Accrual Method Chapter 11
34-38 entries related to using the accrual,
installment and cash basis methods. 2. Installment Method IAS 18 / IFRS 15
*The student should be able to quickly 3. Cash Basis
analyze & answer short problems
about revenue or gross profit
realization for the franchisor.
*The student should know &
comprehensively understand the
Sessions accounting issues related to
Part 7: Consignment IFRS 15
39-42 consignment accounting.
*The student should be able to prepare Other references
entries and quickly analyze & answer
short problems related to consignment.
Sessions
MIDTERM EXAMINATION
43-44
Sessions Additional Exercises: Partnership
Chapters 1 to 5 exercises
45-47 Accounting
Sessions
Additional Exercises: Joint Venture Chapter 6 exercises
48-50
Additional Exercises: Corporate
Sessions *The student at this point should have Liquidation, Reorganization, Chapter 7 & 8 exercises
51-54 a comprehensive mastery at solving
Debt Restructuring
problems related to the topics covered
Sessions by the course. Additional Exercises: Installment Sales Chapter 9 exercises
55-57
Sessions Additional Exercises: Long-term
Chapter 10 exercises
58-60 Construction
Sessions
Additional Exercises: Franchise Chapter 11 exercises
61-62
TBA FINAL EXAMINATION

Reference: Advanced Accounting (Principles & Procedural Applications) Vol. 1 by Pedro P. Guerrero and Jose
F. Peralta

Grading system:
Quizzes 25% Finals 40%
Midterms 30% Participation, attendance 5%

Conversion table:

Raw % score UP Grade Raw % score UP Grade

above 95% 1 60% 3
above 90% up to 95% 1.25 below 60% down to 55% 3.25
above 85% up to 90% 1.5 below 55% down to 50% 3.5
above 80% up to 85% 1.75 below 50% down to 45% 3.75
above 75% up to 80% 2 below 45% down to 40% 4
above 70% up to 75% 2.25 below 40% down to 35% 4.25
above 65% up to 70% 2.5 below 35% down to 30% 4.5
above 60% up to 65% 2.75 below 30% down to 25% 4.75
below 25% 5

Prepared by:

Prof. Arvin L. de Veyra

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