University of San Jose- Recoletos Cebu City, Philippines

COLLEGE OF COMMERCE
Department of Accountancy and Finance

COURSE NUMBER: Accounting 15

COURSE TITLE: Advanced Accounting Part III
COURSE UNITS: 3 units
PRE-REQUISITE COURSES: Accounting 8
CO-REQUISITE COURSES: None

Catholic Attributes
1. Orthodoxy in Catholic Doctrine 2. Integrity in Moral Life 3. Dynamism in Prayer Life

Augustinian Recollect Attributes

1. Contemplative 2. Communitarian 3. Apostolic 4. Marian

USJ-R’s Vision
We envision the University of San Jose-Recoletos to be a premier Gospel and community-oriented educational institution committed to transforming individuals to
become more responsive leaders of the society through innovative integral formation.

Mission
We are a Catholic University imbued with the spirit of “Caritas et Scientia”, committed to provide Quality Christian Community-Oriented Education.

Core Values
1. Interiority 2. Nationalism 3. Service 4. Pioneerism 5. Integrity 6. Reliability 7. Excellence

Josenian Graduate Attributes

1. Socially Responsible Communitarian 2. God-Centered Individual 3. Highly Competent Professional 4. Effective Communicator 5. Adaptive Life-Long Learner
COURSE DESCRIPTION:

Advanced Accounting Part III is a continuation of the study of financial accounting. Topics include accounting specialized accounting issues that gives rise
to alternative accounting methodologies. The areas of coverage in this course include issues involving accounting for investment in associates, business combinations
including Statutory Mergers and Share Acquisition, leading to consolidated financial statements and joint arrangements. These topics require a working knowledge
of existing accounting standards and professional pronouncements. The course is designed to provide an understanding of the technical requirements as well as
developing an appreciation for working with accounting pronouncements and research of accounting issues. Professional communication skill for writing and
speaking will also be emphasized throughout the semester.

PROGRAM INTENDED LEARNING OUTCOME (PILO)

To produce professional accountants with the following core competencies:

A. Carry out abstract logical thinking and apply the process of critical thinking.
B. Review, interpret, and evaluate financial data and systems/operational data/controls in order to form conclusions and/or recommendations on the validity,
usefulness, correctness and compliance with established policies, procedures, guidelines, agreements and/or legislation.
C. Discern the true nature of a situation and evaluate applicable principles and techniques.
D. Link data, knowledge and insight from different sources and disciplines to make informed decisions.
E. Work in groups and be a team player.
F. Listen and communicate effectively one’s points of view, both orally and in writing at all organizational levels; being able to justify, persuade and convince
others of one’s position and deliver impressive presentations.
G. Work in accordance with the highest standards of professionalism: integrity, objectivity and independence, professional competence and due care,
confidentiality, professional behavior and moral values.
H. Pursue continuing professional development, research and community extension.
 COURSE INTENDED LEARNING OUTCOMES PROGRAM INTENDED LEARNING
OUTCOMES

Within and upon completion of this course, the students are expected to:
Knowledge: Identify, define and apply the different terminologies and basic accounting principles used in joint A,B,C,F,,F,G
arrangements, investment in associates, business combinations including Statutory Mergers and Share
Acquisition, leading to consolidated financial statements.

Skills: Differentiate the nature and methods employed in accounting for joint arrangements, investment in A,B,C,D,F,G
associates, business combinations including Statutory Mergers and Share Acquisition, leading to
consolidated financial statements..
Interpret the uses and applications of the specialized fields in accounting such as investment in A,B,C,D,E,F,G
associates, business combinations including Statutory Mergers and Share Acquisition, leading to
consolidated financial statements.
Apply Consolidation process in different business combination situations. A,B,C,D,E,F,G
Appreciate the methods of consolidation in different business combination situations.
A, F
Attitudes and Values:
 Time Learning Topic – CILO Mapping Learning Outcomes Assessment Learning Materials/
Frame Outcomes 3-Substantially Addressed; 2- Content / Outputs Activities Resources
Moderately Addressed
1-Slightly Addressed)
PRELIM CILO CILO CILO CILO CILO
1 2 3 3 3
FISMO  Lecture –
Knowledge:Apply 2 3 3 Business Discussion  Columnar
FIRST 2 the appropriate Combination: Facts and  Recitation sheet
WEEKS OF accounting methods Statutory Mergers Information (15%):  Problem (2columns)
PRELIM in solving for  PAPET (Paper Solving  Powerpoints
statutory mergers 3 3 3  Forms of and Pencil  Group/Team  Ledger sheets
business Test) Learning  Worksheet
Skill: Prepare combination  Oral Recitation  Case Analysis  Calculator
s Skills (25%):  Practice set
consolidated financial 2 3 3
statements at the  Methods of  PAPET  Microsoft
date of business accounting Meaning(30%): Excel
combination for business  PAPET Templates
combination Outcomes(30%):
Attitudes /
s  Consolidated
Values: Promote  Accounting Financial
the importance of for Statutory Statements at
preparing Mergers. the date of
consolidated financial  Goodwill business
statements which and Gain on combination
serve as the media bargain
through which purchase
financial information
about combined
business enterprises
to various interested
parties.

( Core Values:
Integrity,
Pioneerism,
Excellence)
FISMO  Lecture –
SECOND 2 Knowledge:Apply 2 2 3 Share Discussion  Columnar
WEEKS OF the equity method in Investments - Facts and  Recitation sheet (2
PRELIM accounting for Investment in Information (15%):  Problem columns)
investment in Associates  PAPET (Paper Solving  Powerpoints
associates  Relationshi and Pencil  Group/Team  Ledger sheets
2 2 3 ps and Test) Learning  Worksheet
Skill: Compute and related  Oral Recitation  Case Analysis  Calculator
prepare journal parties Skills (25%):  Practice set
entries and financial  Accounting  PAPET  Microsoft
statements of an for Meaning(30%): Excel
1 1 2 investment  PAPET
entity with Templates
investment in in Outcomes(30%):
associate. associates  Journal
Financial entries and
statement Financial
Attitudes /
presentatio Statements
Values: justify the n
rationale in applying
the equity method in
accounting for
investment in
associates

( Core Values:
Integrity,
Pioneerism,
Excellence)

FISMO  Lecture –
LAST 2 Knowledge:Apply 2 2 Discussion  Columnar
WEEKS OF the new provisions of Joint Facts and  Recitation sheet
PRELIM PFRS 11, and apply Arrangements Information (15%):  Problem (2columns)
the concepts in  Relationship of  PAPET (Paper Solving  Powerpoints
accounting for joint new accounting and Pencil  Group/Team  Ledger sheets
arrangements 2 2 standards Test) Learning  Worksheet
 Principles of  Oral Recitation  Case Analysis  Calculator
Skill: Prepare Investments in Skills (25%):  Practice set
journal entries and Joint  PAPET  Microsoft
 make financial Arrangements Meaning(30%): Excel
statements involving 1 1  Joint control  PAPET Templates
joint arrangements  Types of Joint Outcomes(30%):
Arrangements  Journal entries
Attitudes /  Accounting for and financial
Values: Promote Joint statements of a
the importance of the Operations joint operator
revisions on the  Accounting for in a joint
standard on joint Joint Ventures venture
arrangements

( Core Values:
Integrity,
Pioneerism,
Excellence)

MIDTERM

Knowledge:Identif FISMO  Lecture –

FIRST 3 y situations involving 3 3 3 Share Discussion  Columnar
WEEKS OF investments in Investments – Facts and  Recitation sheet
MIDTERM subsidiaries and Investment in Information (15%):  Problem (2columns)
apply appropriate Subsidiaries  PAPET (Paper Solving  Powerpoints
consolidation  Consolidati and Pencil  Group/Team  Ledger sheets
techniques, methods 3 3 3 on at Date Test) Learning  Worksheet
and procedures of  Oral Recitation  Case Analysis  Calculator
Acquisition Skills (25%):  Practice set
Skill: Prepare  Consolidati  PAPET  Microsoft
eliminating entries on Meaning(30%): Excel
and consolidated
2 3 3 subsequent  PAPET Templates
financial statements to date of Outcomes(30%):
at the date of acquisition  Consolidation
acquisition and  Goodwill Working
subsequent to date of and Gain on Paper and
acquisition bargain Consolidated
purchase Financial
Attitudes /  Step Statements in
 Values: Justify the Acquisition good form
importance of
preparing
consolidated financial
statements which
serve as the media
through which
financial information
about combined
business enterprises
to various interested
parties.

( Core Values:
Integrity,
Pioneerism,
Excellence)

FINALS
Knowledge:Identif FISMO  Lecture –
FIRST 3 y situations involving 2 2 3 3 3 Intercompany Discussion  Columnar
WEEKS OF intercompany Profit Facts and  Recitation sheet
FINALS purchase and sale of Transactions - Information (15%):  Problem (2columns)
inventory and apply Inventories  PAPET (Paper Solving  Powerpoints
appropriate  Intercompa and Pencil  Group/Team  Ledger sheets
consolidation ny Test) Learning  Worksheet
techniques, methods 2 2 3 3 3 inventory  Oral Recitation  Case Analysis  Calculator
and procedures transactions Skills (25%):  Practice set
.  PAPET  Microsoft
Skill: Prepare  Downstrea Meaning(30%): Excel
eliminating entries m and  PAPET Templates
and make 1 1 2 3 3 upstream Outcomes(30%):
consolidated sales.  Consolidation
financial statements  Unrealized Working
involving profit from Paper and
intercompany upstream Consolidated
purchase and sale of and Financial
downstrea Statements in
 inventory. m sales. good form
 Consolidate
Attitudes / d financial
Values: Justify the statements
importance of with
preparing intercompa
consolidated financial ny
statements which inventories
serve as the media transactions
through which .
financial information
about combined
business enterprises
to various interested
parties.

( Core Values:
Integrity,
Pioneerism,
Excellence)

FISMO  Lecture –
LAST 3 Knowledge:Identif 2 2 3 3 3 Intercompany Discussion  Columnar
WEEKS OF y situations involving Profit Facts and  Recitation sheet
FINALS Intercompany Transactions – Information (15%):  Problem (2columns)
purchase and sale of Plant Assets  PAPET (Paper Solving  Powerpoints
plant assets and apply  Intercompa and Pencil  Group/Team  Ledger sheets
appropriate ny plant Test) Learning  Worksheet
consolidation asset  Oral Recitation  Case Analysis  Calculator
techniques, methods transactions Skills (25%):  Practice set
and procedures .  PAPET  Microsoft
2 2 3 3 3  Downstrea Meaning(30%): Excel
m and  PAPET Templates
Skill: Prepare upstream Outcomes(30%):
eliminating entries sales.  Consolidation
and make 1 1 2 3 3  Unrealized Working
consolidated profit from Paper and
financial statements upstream Consolidated
and
 involving downstrea Financial
intercompany m sales. Statements in
purchase and sale of  Consolidate good form
plant assets d financial
statements
Attitudes / with
Values: Justify the intercompa
importance of ny
preparing inventories
consolidated financial transactions
statements which .
serve as the media
through which
financial information
about combined
business enterprises
to various interested
parties.

( Core Values:
Integrity,
Pioneerism,
Excellence)

Final Output:
Compilation of all mini-outcome

Legend: Where the CILO is addressed by the current topic

1 – Slightly Addressed 2 – Moderately Addressed 3 – Substantially Addressed
COURSE OUTCOMES

Prelim
Midterm

Final

ASSESSMENT CRITERIA

Quizzes and Term Examinations: FISMO

 Facts and Information – 15%
 Skills – 25%
 Meaning– 30%
 Outcomes– 30%

Grading Standard: Averaging with 60% passing rate

PRELIM GRADE (PG) = 70 % FISMO + 30 % PRELIM Exam

Where: FISMO = 15% Facts and Information (FI) + 25% Skills (S) + 30% Meaning (M) + 30% Outcome (O)
MID-TERM GRADE (MG) = ½ TMG + ½ PG
Where: Tentative Midterm Grade (TMG) =70 % FISMO + 30 % MIDTERM Exam
FISMO = 15% Facts and Information (FI) + 25% Skills (S) + 30% Meaning (M) + 30% Outcome (O)
FINAL GRADE (FG) = 1/3 TFG + 1/3 PG + 1/3 TMG
Where: Tentative Final Grade (TFG) =70 % FISMO + 30 % DEPARTMENTAL / FINAL Exam
FISMO = 15% Facts and Information (FI) + 25% Skills (S) + 30% Meaning (M) + 30% Outcome (O)
Instructional Resources:
Textbook:
Dayag, Antonio J. (2014). Advanced Accounting Volume II. Manila: ReSA Review School

References:
Fischer P. & Taylor W. (2012). Advanced Accounting. Ohio: Southwestern Publlishing.
Guerrero, P. & Peralta, J. (2013). Advanced Accounting: A Procedural Approach, Volume 1. Manila: Conanan Educational Supplies.
Guerrero, P. & Peralta, J. (2013). Advanced Accounting: A Procedural Approach, Volume 2. Manila: Conanan Educational Supplies.
Irving J, et. al. (2010). Advanced Accounting Problems. New York: McGraw Hill.

SYLLABUS REVISION HISTORY

i. Syllabus Adaptation CMO’s

ii. Version Number (
optional)
iii. Revision Dates April 8, 2015
iv. Prepared by Jun Brian B. Alenton, CPA Rosemarie V. Jacalan, CPA, Alvin C. Estreba CPA, MM and Gabriel C. Bachini, CPA
v. Reviewed by
vi. Approved by