PHINMA ARAULLO UNIVERSITY

Bitas, Maharlika Highway, Cabanatuan City

COLLEGE OF MANAGEMENT AND ACCOUNTANCY
OBE Course Syllabus

Course Syllabus in ACC 103 Conceptual Framework and Accounting Standards

COURSE DESCRIPTION:
This course introduces the nature, functions, purpose, scope and limitations of the broad field of accounting theory. It deals with the study of the conceptual framework and accounting standards
for financial reporting and presentation of financial statements.

Credit: 3 units

Prerequisite: ACC 102 - Fundamentals of Accounting & Financial Reporting

COURSE LEARNING OBJECTIVES:

Course Learning Outcomes:
Upon completion of the course, the students will be able to

A. Cognitive
1. Apply the standards in the accounting cycle and report preparation;
2. Measure the applicability of the concepts in terms of its application in accounting;
3. Perform transactions in accordance with prescribed concepts and standards.
4. Use the accounting standards in developing accounting systems.

B. Psychomotor
1. Determine accounting transactions in relation to Philippine accounting standards; and
2. Set standards in the way business is interacted according to the accounting standards.

C. Affective
1. Comply with prescribe laws and accounting standards that affects all transactions; and
2. Support the work of the government in establishing an orderly economic growth.

REQUIRED TEXTBOOK AND RESOURCES:

Text book:
1. Conceptual Framework & Accounting Standards by Win Ballada, 2020 Issue- 1st Edition

Other references:
1. Conceptual Framework & Accounting Standards by Zeus Vernon B. Millan, 2019 edition
2. Intermediate Accounting by Zeus Vernon B. Millan, 2019 edition
 3. Financial Accounting by Valix and Peralta, 2019 edition
4. Intermediate Accounting 9th Edition by David Spiceland and Mark Nelson and Wayne Thomas, 2018 Edition
5. Intermediate Accounting by Robles and Empleo. 2018 Edition
6. Financial Accounting by Elenita Cabrera, 2018 edition
7. www.iasplus.com
Time Learning Goals Learning Outcomes
Allotment
Week 1-2 The learners shall be able to o Define accounting and state
(4.5 hours) understand the Overview of its basic purpose
International Accounting o Explain the basic concepts
Standards and Conceptual applied in accounting
Framework. o State the branches of
accounting and the sectors
in the practice of
accountancy
o Explain the importance of a
uniform set of financial
reporting standards
o State the basic purpose,
authoritative status, and
scope of the Conceptual
Framework
o State the objective of
financial reporting
o Identify the primary users of
FS
o Explain briefly the
qualitative characteristics of
useful information and how
they are applied in financial
reporting
o Define the elements of
financial statements and
state their recognition
criteria
Week 2-3 The learners shall be able to o Enumerate and describe the
(3 hours) describe the Complete Set of general features of financial
Financial Statements statement presentation
o Enumerate and describe the
components of a complete
Content Topic OBE Methodologies Evaluative Measures
Overview of International ⮚ Situational analysis that ❖ Students to answer
Accounting Standards and will require application of review questions and
Conceptual Framework the concepts read problems
● Objective of Financial ⮚ Lecture/Discussion ❖ Short quiz per topic
Reporting ⮚ Reciprocal Questioning ❖ Recitation
● Qualitative Characteristics
of Useful Financial
Information
● Financial Statements and
the Reporting Entity
● The Elements of Financial
Statements
● Recognition and
Derecognition
● Measurement
● Presentation and Disclosure
● Concepts of Capital and
Capital Maintenance
Overview of the Complete Set of ⮚ Situational analysis that ❖ Students to answer
Financial Statements will require application of review questions and
● Financial Statements the concepts read problems
● General Features ⮚ Lecture/Discussion ❖ Short quiz per topic
● Structure and Content of ⮚ Reciprocal Questioning ❖ Recitation

Week 3-4 The learners shall be able to
(4.5 hours) prepare Statement of Profit or
Loss and Other
Comprehensive Income
set of FS
o State the acceptable
methods of presenting items
of income and expenses
o Describe the components of
Statement of Profit or Loss
and Other Comprehensive
Income
o Present and prepare the
components of Statement of
Profit or Loss and Other
Comprehensive Income
Financial Statements in
General
Statement of Profit or Loss and ⮚ Situational analysis that ❖ Students to answer
Other Comprehensive Income will require application of review questions and
● Format the concepts read problems
● Information Presented in ⮚ Lecture/Discussion ❖ Short quiz per topic
the Statement of Profit or ⮚ Reciprocal Questioning ❖ Recitation
Loss
● Information Presented in
the Other Comprehensive
Income Section

Week 5-6 The learners shall be able to o Define the following: (1)
(4.5 hours) prepare Statement of Cash operating activities, (2)
Flows investing activities, (3)
financing activities
o State the classification of
the following in a statement
of cashflows: (a) dividends
received, (b) dividends paid,
(c) interest paid and (d)
interest received
o Prepare a statement of cash
flows presenting cash flows
from operating activities
using direct and indirect
method
Week 7 The learners shall be able to o State the components of
(1.5 hours) account share capital issuance shareholder’s equity
o Account for the initial
issuances of shares of stocks
Statement of Cash Flows ⮚ Situational analysis that ❖ Students to answer
● Definitions will require application of review questions and
● Presentation of Statement the concepts read problems
of Cash Flows ⮚ Lecture/Discussion ❖ Short quiz per topic
● Classification of Cash ⮚ Reciprocal Questioning ❖ Recitation
Flows
● Operating Activities
● Investing Activities
● Financing Activities
● Interest Expense, Interest
Income, Dividend Income
and Dividends Paid
● Reporting Cash Flows from
Operating Activities (Direct
and Indirect Method)
● Reporting Cash Flows from
Investing and Financing
Activities
Shareholder’s Equity (Review) ⮚ Situational analysis that ❖ Students to answer
● Share Capital will require application of review questions and
● Two Basic Types of Shares the concepts read problems
● Terms Related to Share ⮚ Lecture/Discussion ❖ Short quiz per topic
Capital ⮚ Reciprocal Questioning ❖ Recitation
● Accounting for issuance of
Share Capital
● Considerations for issuance
of shares
● Share Issuances for cash
 Week 7 1st Periodic Examination
Week 8 The learners shall be able to
(3 hours) account share capital
transactions
Week 9-10 The learners shall be able to
(4.5 hours) prepare a Statement of
Retained Earnings
Week 10-11 The learners shall be able to
(3 hours) prepare a Statement of
Changes in Equity
Week 11-12 The learners shall be able to
(3 hours) prepare a Statement of
Financial Position
Week 12-13 The learners shall be able to
(3 hours) prepare Notes to Financial
Statements
o Account for the
reacquisition and retirement
of shares of stocks
o Account for stock rights,
convertible preference
shares and donated capital
o Account for distribution to
owners
o Prepare a statement of
retained earnings
o Prepare a Statement of
Changes in Equity
o Differentiate between
Statement of Profit or Loss
and Other Comprehensive
Income and Statement of
Changes in Equity
o Prepare a Statement of
Financial Position
o Classify Assets and
Liabilities into current and
noncurrent
o Define the following and
give examples: (1)Change in
accounting policy
(2)Change in accounting
estimate and (3) Error
o Differentiate between the
Shareholder’s Equity
● Subscription of shares
● Share issuances for non-
cash considerations per
IFRS No. 2
● Two methods of accounting
for share capital
● Treasury stocks per IAS
No. 32
● Donated Capital
Retained Earnings
● Dividends in general
● Cash Dividends
● Property Dividends
● Share Dividends
● Liquidating Dividends
● Share Splits
● Dividends on Preference
and Oridnary Shares
● Prior Period Errors
● Statement of Retained
Earnings
Statement of Changes in Equity
● Disclosure of Dividends
● Retrospective Adjustments
● Owner changes and non-
owner changes in equity
Statement of Financial Position
● Order or Format of
Presentation
● Current Assets
● Current Liabilities
Notes to Financial Statements
● Accounting Policies,
Changes in Accounting
Estimates and Errors - IAS
8 ⮚ Reciprocal Questioning
● Changes in Accounting
Policies
⮚ ❖
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
 accounting treatments of the
following: change in
accounting policy, change in
accounting estimate, and
correction of prior period
error
Week 13 2nd Periodic Examination
Week 14 The learners shall be able to o Describe the criteria for held
(4.5 hours) account tangible non-current for sale classification
assets o State the initial and
subsequent measurement on
held for sale assets
o State the presentation
requirements of a
discontinued operation
Week 15 The learners shall be able to o Define an intangible asset
(4. 5 account intangible assets o State the initial
hours) measurement of intangible
assets that are (a) externally
acquired and (b)internally
generated
Week 16 The learners shall be able to o Define book value per share
(3 hours) account for book value per o Compute for book value per
share share
Week 17 The learners shall be able to o Explain how basic earnings
(3 hours) account for earnings per share per share is computed
o Explain how diluted EPS is
computed
Week 18 3rd Periodic (PHINMA
common examination)
● Errors
Tangible Non-Current Assets
● Property, Plant and
Equipment
● Depreciation Accounting
● Investment Property - IAS
40
● Borrowing Costs - IAS 23
Intangible Assets
● Intangible Assets - IAS 38
✔ Assets with both
Intangible and Tangible
Elements
✔ Financial Statement
Presentation
✔ Recognition and Initial
Measurement
Book Value Per Share
● Preference Shareholder’s
Equity
● Outstanding Shares
● Subscription receivable
● Particioating Preference
Shares
Earnings Per Share
● Earnings Per Share - IAS
33
● Basic EPS
● Effect on EPS of Changes
in Capital Structure
● Diluted EPS
● Presentation Disclosure and
Other Matters
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
⮚ Situational analysis that
will require application of
the concepts read
⮚ Lecture/Discussion
⮚ Reciprocal Questioning
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
❖ Students to answer
review questions and
problems
❖ Short quiz per topic
❖ Recitation
EXPECTATIONS FROM STUDENT

The student’s responsibility is to come to each class prepared. She/He is also expected to take all examination on the date scheduled. She/He is expected to attend each class and
participate actively in the discussions.

ACADEMIC HONESTY
All students are expected to be academically honest. Cheating, lying and other forms of unethical behaviour will not be tolerated. Any student found guilty of cheating in examinations or
plagiarism in submitted course requirements will receive an F or failure in the course requirement or in the course. Plagiarism refers to the use of books, notes or other intellectual property
without giving proper attribution to its author, or representing the work of another person as one’s own; Cheating refers to securing help in a test; copying tests, assignments, reports or terms
papers; collaborating with other students during an examination or in preparing academic work; signing another student’s name on an attendance sheet; or otherwise practicing scholastic
dishonesty.

POLICY ON ABSENCES
1. Every student is required to attend his classes regularly and punctually. Absence or persistent tardiness for more than 20% of the total number of class meetings (one and a half hour for
each meeting) during the entire course in any particular subject shall be sufficient reason for disqualifying a student from taking final examination or for dropping the student without credit. The
same shall apply if a student has incurred
• more than 8 absences in a 3-unit subject
• more than 17 absences in a 6-unit subject
2. A student who is late for class for at least 10 minutes will be marked as absent.
3. A student will incur an absence for every 3 times that he is tardy.

GRADING SYSTEM
The Final Grade is computed as follows:
FG = (0.33x P1) + (0.33 x P2) + (0.34x P3)
Where:
• FG refers to the Final Grade
• P1 refers to the First Period Grade
• P2 refers to the Second Period Grade
• P3refers to the Third Period Grad

Component of each grading period:

Quizzes 40%
Class Participation (Recitation, Attendance, \Seat work) 20%
Period Examination 40%
Total 100%

PROMOTION & RETENTION

A student must earn a grade of at least 3.00 in this subject to stay in the program.
 I have read the course syllabus and I understand that I have to comply with the
requirements of the course and the expectations from me as a student of ACC 103 during the Second
Semester of AY1920. I am fully aware of the consequences of non-compliance with the above-
mentioned requirements and expectations.

____________________________________
Printed name and signature of student / Date