De La Salle University

COLLEGE:
Ramon V. del Rosario College of Business (RVR COB)
DEPARTMENT:
ACCOUNTANCY
COURSE CODE:
ACTBAS1
CLASS DAYS AND CLASS TIME: TH 1430-1600
ROOM: AG710
INSTRUCTOR NAME: Mr. Florenz C. Tugas (florenz.tugas@dlsu.edu.ph; fctugas@gmail.com)
CONTACT NO._____________________________
CONSULTATION HOURS___________________
COURSE DESCRIPTION:
This course ACTBAS1, INTRODUCTORY ACCOUNTING FOR SERVICE ENTERPRISE is
designed to develop a basic understanding of the conceptual framework underlying the measurement and
communication of financial data for business decisions as well as their relevance in the national context.
This course deals with analyzing, recording, and processing business transactions commonly engaged by
a sole proprietor of a service enterprise. The fundamental concepts and principles essential to the
measurement and communication of said transactions are introduced and emphasized as the course
progresses.
LEARNING OUTCOMES:
On completion of the course, the student is expected to be able to do the following:
UNIVERSITY EXPECTED LASALLIAN
GRADUATE ATTRIBUTE (ELGA)
Critical and creative thinker
Effective communicator

LEARNING OUTCOME (LO)

LO1: Prepare financial statements for a service business
organized as sole proprietorship.
LO2: Prepare individual and/or group case analyses
which apply theories learned in this course.

FINAL COURSE OUTPUT:

As evidence of attaining the above learning outcomes, the student is required to do and submit the
following during the indicated dates of the term.
LEARNING OUTCOME
(LO)
LO1: Prepare financial
statements for a service
business organized as sole
proprietorship.

REQUIRED OUTPUT/S

LO2: Prepare individual

and/or group case analyses
which apply theories learned
in this course.

DUE DATE

One group presentation of

financial statements
At least two sets of Financial
Statements
At least two Workbook exercises
At least two written individual
and/or group case analyses

Week 1 to Week 2
Week 3 to Week 12
Every meeting
Week 6 to Week 13

RUBRICS FOR ASSESSMENT:

The rubrics that follow are intended for students to self-check required output prior to submission. The
same rubrics will also be used to grade the students work.
Answered Workbook Exercises
CRITERIA
EXEMPLARY
(100)
The student
Completeness
answers all
(100%)
exercises
completely.

SATISFACTORY
(90)
The student
answers majority of
the exercises
completely.

DEVELOPING
(80)
The student
answers some of
the exercises
completely.

BEGINNING
(70)
The student fails to
answer all assigned
exercises.
TOTAL:

RATING

Financial Statements
CRITERIA
EXEMPLARY
(100)
The student prepares
Correctness
correctly all financial
and
Completeness statements.
[80%]
Neatness and
Orderliness
[20%]

SATISFACTORY
(90)
The student
prepares correctly
majority of the
financial
statements.
The student prepares all The student
financial statements in
prepares majority
good form (proper use
of financial
of money column, uses statements in
ruler, proper place of
good form.
heading, handwriting
legible, preserves
neatness of work).

Group Presentation
CRITERIA
EXEMPLARY
(100)
Oral presentation The group
communicates
skills
clearly the
[40%]
content of the
report and
generates
interest and
establishes
rapport among
audience.
The group uses
Proper use of
PowerPoint tools appropriately
more than the
and features
commonly-used
[30%]
features of
PowerPoint.
The group is
Teamwork
organized and
[30%]
shows strong
teamwork and
camaraderie as
evidenced in the
presentation.

DEVELOPING
(80)
The student
prepares correctly
some of the
financial
statements.
The student
prepares some of
financial
statements in good
form.

BEGINNING
RATING
(70)
The student fails
to prepare
correctly all
financial
statements.
The student fails
to prepare
correctly all
financial
statements in good
form.
TOTAL:

SATISFACTORY
(90)
The group
communicates
clearly the content
of the report and
generates some
interest among
audience.

DEVELOPING
(80)
The group
communicates
somewhat clearly
the content of the
report and
generates little
interest among
audience.

BEGINNING
(70)
The group
communicates
vaguely the content
of the report and
does not generate
interest among
audience.

The group uses

appropriately the
common features of
PowerPoint.

The group uses

somewhat
inappropriately the
common features
of PowerPoint.

The group uses

inappropriately the
common features of
PowerPoint.

The group is
organized and
shows teamwork as
evidenced in the
presentation.

The group is
somewhat
organized and
shows a hint of
teamwork as
evidenced in the
presentation.

The group is
disorganized and
shows lack of
teamwork as
evidenced in the
presentation.

Written Group Business Case Analysis

CRITERIA
EXEMPLARY
SATISFACTORY DEVELOPING
(100)
(90)
(80)
The group applies all
The group
The group applies
Content and
relevant ACTBAS1
applies some
few ACTBAS1
Application
topics appropriately to
ACTBAS1 topics topics
[80%]
the business case.
appropriately.
appropriately.
The group follows the
The group
The group follows
Format and
format
and
has
not
one
follows
the
the
format but
Use of
spelling/ grammatical
format and uses
uses a mixture of
English
error in the paper.
only the English
Filipino and
Language
language in the
English language
[10%]
paper which is at in the paper and/or
an acceptable
uses the English
level.
language
somewhat
inappropriately.
The group shows strong The group shows The group shows
Teamwork
teamwork as evidenced teamwork as
somewhat a lack
[10%]
in the oneness and
evidenced in the
of teamwork as

RATING

TOTAL:
BEGINNING
RATING
(70)
The group fails to
apply ACTBAS1
topics
appropriately.
The group does
not follow format
and uses a mixture
of Filipino and
English language
in the paper and/or
uses the English
language
inappropriately.
The group shows
lack of teamwork
as evidenced in

CRITERIA

EXEMPLARY
(100)
consistency both in the
flow and contents of
the paper.

SATISFACTORY DEVELOPING
(90)
(80)
consistency in
evidenced in some
terms of content
inconsistencies
of the paper.
both in the flow
and contents of the
paper.

Written Individual Business Case Analysis

CRITERIA
EXEMPLARY
SATISFACTORY
(100)
(90)
The student applies all
The student
Content and
relevant ACTBAS1
applies some
Application
topics appropriately to
ACTBAS1 topics
[80%]
the business case.
appropriately.
The
student
follows
the
The student
Format and
format and has not one follows the
Use of
spelling/ grammatical
format and uses
English
error in the paper.
only the English
Language
language in the
[20%]
paper which is at
an acceptable
level.

DEVELOPING
(80)
The student
applies few
ACTBAS1 topics
appropriately.
The student
follows the format
but uses a mixture
of Filipino and
English language
in the paper and/or
uses the English
language
somewhat
inappropriately.

BEGINNING
RATING
(70)
the inconsistencies
both in the flow
and contents of the
paper.
TOTAL:
BEGINNING
RATING
(70)
The student fails
to apply
ACTBAS1 topics
appropriately.
The student does
not follow format
and uses a mixture
of Filipino and
English language
in the paper and/or
uses the English
language
inappropriately.
TOTAL:

OTHER REQUIREMENTS AND ASSESSMENTS:

Aside from the final output, the student will be assessed at other times during the term by the following:
Quizzes
Midterm Examination
Departmental Final Examination
GRADING SYSTEM:
GRADE POINT
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.0

DESCRIPTION
Excellent
Superior
Very Good
Good
Satisfactory
Fair
Pass
Fail

The student will be graded according to the following:

BASIS
Quizzes
Midterm Examination
Departmental Final Examination
Class Standing
Class Standing
TOTAL
Final Grade Computation

PERCENTAGE
97 100
94 96
91 93
87 90
83 86
77 82
70 76
Below 70
1ST HALF
40%
40%
--15%
5%
100%
40%

2ND HALF
40%
--40%
15%
5%
100%
60%

LEARNING PLAN:
LEARNING
OUTCOME
Prepare
financial
statements for
a service
business
organized as
sole
proprietorship.

Prepare
individual
and/or group
case analyses
which apply
theories
learned in this
course.

TOPICS

1. INTRODUCTION TO ACCOUNTING
1.1 Case Overview Financial Statements

WEEK
NO.
1

Read textbook, pp 24-27,

96; Answer workbook
exercise, pp. 1-9
Read textbook, pp 3-4, 7,
9-10, 32-33; Answer
workbook exercise, p.10
Read textbook, pp. 8-9;
Answer workbook
exercises, pp. 11-13

1.2 Definition, Nature, and Scope of Accounting

1.3 Brief History of Accounting
1.3.1 Double-entry bookkeeping
1.3.2 Harmonization of accounting reports
1.3.3 International Accounting Standards
1.4 Relationship of Accounting to Other Fields of
Discipline
1.5 Forms of Business Organization
1.5.1 According to ownership
1.5.2 According to activity
1.6 Basic Professional Values and Business Ethics
2. MEASURING AND REPORTING FINANCIAL
POSITION
2.1 Nature and Forms of Statement of Financial Position
2.1.1 Report form
2.1.2 Account form
2.2 Related Accounting Concepts / Principles
2.2.1 Entity
2.2.2 Monetary
2.2.3 Cost
2.2.4 Objectivity or Reliability
2.2.5 Going Concern
2.2.6 Materiality
2.2.7 Disclosure
2.3 Accounting Equation
2.4 Transaction Analysis: Assets, Liabilities and
Owners Equity

Read textbook, pp. 9-10

Read textbook, pp. 14-15

2-3

Prepare
financial
statements for
a service
business
organized as
sole
proprietorship.

3.2 Related Accounting Concepts / Principles

3.2.1 Time Period
3.2.2 Income Recognition
3.2.3 Matching or Expense Recognition
3.2.4 Accrual
3.2.5 Consistency
3.2.6 Conservatism (Prudence)
3.2.7 Disclosure
3.3 Expanded Accounting Equation
3.4 Transaction Analysis: Revenues and Expenses

Read textbook, pp. 5, 1011

Read textbook, pp. 151157; Answer workbook
exercises, pp. 14-21
Read textbook, pp. 13-14,
508-509, 493- 499;
Answer workbook
exercises, pp. 29-31

Read textbook, pp. 15, 18

Read textbook, pp. 15-16,
19-20, 21-22;
Answer workbook
exercises, pp. 22-25
Answer workbook
exercise, p. 26
QUIZ 1

2.5 Preparation of Statement of Financial Position

3. MEASURING AND REPORTING FINANCIAL

PERFORMANCE
3.1 Nature and Forms of Income Statement
3.1.1 Natural form
3.1.2 Functional form

LEARNING
ACTIVITIES

3-4
Read textbook, pp. 197201; Answer workbook
exercises, pp. 27-28, 3235
Read textbook, pp. 95-97,
100, 496, 499, 504-508,
557, 566, 571-572

Read textbook, pp. 15-23;

52-54; Answer
workbook exercise, p. 36
Read textbook, pp. 17,
20-21; Answer workbook
exercises, pp. 37-39

LEARNING
OUTCOME

TOPICS
3.5 Preparation of Natural-Form Income Statement
4. MEASURING AND REPORTING CHANGES IN
EQUITY
4.1 Nature and Form of Statement of Changes in
Owners Equity

WEEK
NO.
4

4.2 Transaction Analysis: Investments, Withdrawals,

and Net Income (Loss)
Prepare
individual
and/or group
case analyses
which apply
theories
learned in this
course.

4.3 Preparation of Statement of Changes in Owners

Equity
5. MEASURING AND REPORTING CASH FLOWS
5.1 Nature and Forms of Statement of Cash Flows
5.1.1 Direct method
5.1.2 Indirect method
5.2 Components of Statement of Cash Flows
5.2.1 Operating activities
5.2.2 Investing activities
5.2.3 Financing activities
5.3 Preparation of Statement of Cash Flows Direct
Method
6. THE ACCOUNTING CYCLE
6.1 Accounting Cycle and Business Documents Used
6.2 Analyzing Business Transactions in Terms of Debits
and Credits
6.3 Recording of Business Transactions in the Journal
6.3.1 Rendering of service
6.3.2 Purchase of supplies and equipment

6.4 6.4 Accounting for Payroll

6.4.1 Definition of payroll terms
6.4.2 Calculation of net pay or take-home pay
6.4.3 Payment with deductions (SSS, Philhealth,
Pag-IBIG, withholding tax, advances to
employees)
6.4.4 Subsequent remittance to government
agencies of amounts withheld from salaries
and corresponding employers contribution

Prepare
financial
statements for
a service

MIDTERM EXAMINATION
6.5 Accounting for Promissory Notes
6.5.1 Determination of maturity date, interest,
maturity value, discounts, and cash proceeds
6.5.2 Recording of transactions involving
promissory notes
6.5.2.1 Receipt and issuance
6.5.2.2 Collection and payment at maturity
6.5.2.3 Dishonor by the maker
6.5.2.4 Renewal of note
6.5.2.5 Discounting of notes receivable with
recourse (Separate recording of
interest expense and income)
6.5.2.6 Honor or dishonor of discounted
notes receivable
6.5.2.7 Discounting of own note
6.5.2.8 Honor or dishonor of discounted own
note
6.5.2.9 Amortization of discount on note
payable (straight-line method)

6-13

LEARNING
ACTIVITIES
Answer workbook
exercises, pp. 40-41
Read textbook, pp. 22-24;
Answer workbook
exercises, pp. 42-43
Read textbook, pp. 63-67;
Answer workbook
exercises, pp. 44-45
Answer workbook
exercise, p. 46
Read textbook, pp. 714730; Answer workbook
exercise, p. 47
Read textbook pp. 714730; Answer workbook
exercises, pp. 48-50
Answer workbook
exercise, p. 51
QUIZ 2
Read textbook, p.334;
Answer workbook
exercise, pp. 52-53
Read textbook, pp. 51-55,
62-67; Answer workbook
exercises, pp. 54-57
Read textbook, pp. 56-59,
63-70; Answer workbook
exercises, pp. 58-61
QUIZ 3
Read lecture notes;
Answer workbook
exercises, pp. 62-65

Read textbook, pp. 382389, 457-458;

Answer workbook
exercises, pp. 66-71
QUIZ 4

LEARNING
OUTCOME
business
organized as
sole
proprietorship.

Prepare
individual
and/or group
case analyses
which apply
theories
learned in this
course.

TOPICS
6.6 Posting to the General Ledger (T-account Form of
Ledger)
6.7 Preparing the Trial Balance
6.7.1 Use and limitations of a trial balance
6.7.2 Locating errors in the trial balance
6.7.3 Preparing correcting entries
6.7.4 Preparing corrected trial balance
6.8 Journalizing and Posting Year-end Adjustments
(Accrual Basis)
6.8.1 Accrued expenses
6.8.2 Accrued income
6.8.3 Prepaid expenses
6.8.4 Amortization of discount on notes payable
(straight-line method)
6.8.5 Unearned income
6.8.6 Depreciation (straight-line method)
6.8.7 Doubtful accounts (allowance method)
6.8.7.1 Percentage of receivables
6.8.7.2 Aging of accounts receivable
6.9 Preparing Financial Statements
6.9.1 Income Statement
6.9.2 Statement of Financial Position
6.9.3 Statement of Changes in Equity
6.9.4 Statement of Cash Flows
6.9.5 Notes to Financial Statements
6.9.6 Statement of Comprehensive Income
(Introduce only; Do not prepare)
6.10 Closing the Books
6.10.1 Journalizing closing entries
6.10.2 Posting closing entries
6.10.3 Ruling nominal accounts and balancing
real accounts
6.10.4 Preparing post-closing trial balance
6.11 Journalizing and Posting Reversing Entries

WEEK
NO.

LEARNING
ACTIVITIES
Read textbook, pp. 51,
59-62; Answer workbook
exercises, pp. 72-75
Read textbook, pp. 71-72,
148-149; Answer
workbook exercises, pp.
76-80
Read textbook, pp. 97111, 115-116, 118,
374-377, 411-414;
Answer workbook
exercises, pp. 81-95
QUIZ 5

Answer workbook
exercise, p. 105
QUIZ 6

Read textbook, pp. 141147, 155; Answer

workbook exercises,
pp.106-110
Read textbook, pp. 147,
161-162; Answer
workbook exercises, pp.
111-112

DEPARTMENT FINAL EXAM EXAMINATION

REFERENCES:
Required Text and Materials
Bernados, H., Velasco, E., Manalo, M., Aquino, N., and Manaligod, G. Workbook in Introductory
Accounting for Service Business (2014).
Chalmers, K., Fyfe, M., Kieso, D., Kimmel, P., Mitrione, L., Weygandt, J. and Yuen, S. (2010).
Principles of Accounting, 2nd edition. John Wiley and Sons Australia, Ltd.
Other References
Chalmers, K., Fyfe, M., Kieso, D., Kimmel, P., Mitrione, L., and Weygandt, J. (2010).
Financial Accounting, 2nd edition. John Wiley and Sons Australia, Ltd.

Principles of

Chiappetta, B., Kwok, W., Shaw, K., Wild, J. (2013). Principles of Financial Accounting, 20th edition.
McGraw Hill
Kimwell, Mercedes (2009). Fundamentals of Accounting, 2nd edition. Manila: GIC Enterprises & Co.,
Inc.
Valencia, E., and Roxas, G. (2009). Basic Accounting, 3rd edition. Baguio City: Valencia Educational
Supply.

ONLINE RESOURCES:
Bureau of Internal Revenue (BIR) website: http://www.bir.gov.ph
Department of Labor and Employment website: http://www.dole.gov.ph
PhilHealth website: http://www.philhealth.gov.ph
Social Security System website: http://www.sss.gov.ph
Textbook website: http://www.wiley.com/college/weygandt
CLASS POLICIES:
Course-Specific Policies:
This course is a prerequisite to ACTBAS2 (a final grade of at least 2.0 for BSA students to qualify).

A minimum of six (6) quizzes [three (3) long quizzes before and after midterms] is required in this
course.

The 15% class standing shall consist of the following: (1) active participation in class; (2) prompt
submission of assignments and compilation; (3) attendance; and (4) good manners and right conduct.

The final examination is departmental and covers the entire course syllabus. This is held for three (3)
hours during the Final Examinations Week (Week 14). NORMALLY, it involves 40% multiple
choice and true/false theory questions; 15% journalizing ; 16% journalizing adjusting entries; 10%
problem solving with solutions in good accounting format; and 19 % financial statements preparation.

The midterm examination, unlike the final examination, may not be departmental and covers topics
discussed up to Week 6 or 7, depending upon the discretion of the faculty member.

The business case for the first half of the term would be given by the faculty member to the
class/class representative at least a week (for individual business case) or two weeks (for group
business case) before the submission deadline.

It is the responsibility of the student to be mindful of his/her absences/tardiness and performance in

class.

Specific class policies on attendance, make-up quizzes, academic honesty, grading system, dress
code, classroom management, and others not mentioned above, are to be discussed by the faculty
member on the first day of classes.

Department Policies:
An application for special final examination should be accomplished by the student if there are
conflicts in the final examination schedule, following the University policies on order of priority.

When inside the Accountancy Department, students are expected to observe silence, and maintain the
cleanliness and orderliness of the room.

Please observe consultation hours/schedule of the faculty member. Students are not allowed inside
the Accountancy Department during the following times: (1) Before office hours: Monday to
Saturday, before 0800; (2) Lunch break: Monday to Saturday, 1200-1300; (3) After office hours:
Monday to Friday, after 1900 and Saturday, after 1400; (4) Grade consultation day; and (5) When no
faculty member/staff is around.

For student concerns regarding the BSA program or the course, please set an appointment with the
Department Vice Chair. For all other inquiries, please visit the Accountancy Department at Faculty
Center, ground floor.

Basic Accounting Committee

25/March/2014