TOPICS Introduction / Classroom Policies / Groupings I. INTRODUCTION TO ACCOUNTING 1.1 Case Overview Financial Statements 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 as to ownership and activity 1.6 Basic professional values and business ethics II. 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 Transactional Analysis: assets, liabilities and owners equity 2.5 Preparation of Statement of Financial Position III. MEASURING AND REPORTING FINANCIAL PERFORMANCE 3.1 Nature and forms of Income Statement 3.1.1 Natural form 3.1.2 Functional form 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 Transactional Analysis: revenues and expenses 3.5 Preparation of natural form Income Statement IV. MEASURING AND REPORTING CHANGES IN EQUITY 4.1 Nature and form of Statement of Changes in Owners

Pages

Workbook, 24-27. 96 3-4, 7, 9-10, 32-33 8, 492, Workbook and Lecture Notes 493-494 10-11, 494-495 9-10 14 - 15 5, 10-11, and Lecture notes 151-157 157 156 14 14, 508 13-14, 509 498 496 497 497-498 15, 18 15-16, 19-20, 21-22 162 169, and Lecture Notes 197 201 200 95, 100 and 566 96-97, 504-505 96-97, 507-508 96, 496 499 557 571-572 Lecture Notes 17, 20-21 Lecture notes 22-24

Equity 4.2 Transaction analysis: investments, withdrawals, net income (loss) 4.3 Preparation of Statement of Changes in Owners Equity V. 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 VI. 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, with Output VAT 6.3.2 Purchase of supplies and equipment, with Input VAT 6.3.3 Remittance of VAT 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, Pagibig, withholding tax, advances to employees) 6.4.4 Subsequent remittance to government agencies of amounts withheld from salaries and corresponding employers contribution

63, 66 and Lecture notes 24, 26 and Lecture Notes 715-741 721-730 730-738 716-717 722-725, 731-734 725, 735 726, 735, Lecture notes 719, Lecture notes 159 334, Lecture notes 51-55, 62-67 56-59, 63-67, 72 and 67, Lecture notes 63, 65 and Lecture notes Lecture notes 466-469, Lecture notes 472. Lecture notes Lecture notes

Lecture notes

6.5 Accounting for promissory notes 382-389 6.5.1Determination of maturity date, interest, maturity 383-384, Lecture value, Notes discounts and cash proceeds 6.5.2 Recording of transactions involving promissory 384, 457-458 notes 384-385, 458 6.5.2.1 Receipt and issuance 385 6.5.2.2 Collection and payment at maturity Lecture notes 6.5.2.3 Dishonor by the maker 6.5.2.4 Renewal of note Lecture notes 6.5.2.5 Discounting of notes receivable with Lecture notes recourse (Separate recording of interest expense Lecture notes and income) Lecture notes

6.5.2.5.1 Honor or dishonor of discounted note 6.5.2.6 Discounting of own note 6.5.2.6.1 Honor or dishonor of discounted own note 6.5.2.6.2 Amortization of discount on note payable (straight line method) 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 Balance Sheet approach 6.8.7.1.1 Percentage of Accounts Receivable 6.8.7.1.2 Aging of Accounts Receivable 6.9 Preparing Financial statements 6.9.1 Statement of Comprehensive Income (Introduce and not prepare) 6.9.1.1 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 6.11 Closing the books 6.11.1 Journalizing closing entries 6.11.2 Posting closing entries 6.11.3 Ruling nominal accounts and balancing real accounts 6.11.4 Preparing post-closing trial balance 6.12 Journalizing and posting reversing entries 6.1 Workbook< 6.2 Assignment Folder 6.3 Cases and Unstructured Problems 6.4 Term-End Course Evaluation Form 51, 59-62, Lecture notes 71-72 72 148-149 Lecture notes 97-111 106-108 105-106 99-101, 115-116, 118 Lecture notes 103, 116-117, 118 101-102, 411-414 374 376 376-377 111-113, Workbook examples, Refer to Units 2,3,4 and 5

141-147 141-144 144 155 144-145 147, 161-162

7.1 Grading System GRADE POINT DESCRIPTION PERCENTAGE 4.0 Excellent 97 100 3.5 Superior 94 96 3.0 Very Good 91 93 2.5 Good 87 90 2.0 Satisfactory 83 86 1.5 Fair 77 82 1.0 Pass 70 76 0.0 Fail Below 70 *Minimum grade requirement for BSA student is 2.0. The percentage equivalent should be computed as follows: BASIS 1ST HALF Average Quizzes* 40% Final Examination 40% Class Standing** 20% TOTAL 100% Final Grade Computation 40% 2ND HALF 40% 40% 20% 100% 60%

*Minimum of 3 long quizzes before and after midterms. **Class standing shall consist of the following: (1) 10% - prompt submission of assignments and compilation; (2) 5% - Business case; (3) 5% - attendance, active participation in class and good manners and right conduct

8.1 Required text and materials 8.1.1Chalmers, K., Fyfe, M., Kieso, D., Kimmel, P., Mitrione, L., and Weygandt, J. (2010). Principles of Financial Accounting, 2nd edition. John Wiley and Sons Australia, Ltd. (REQUIRED, DEPENDING ON YOUR PROFESSOR) 8.1.2 Bernados, H., Velasco, E., Manalo, M., Aquino, N., and Manaligod, G. Workbook in Introductory Accounting for Service Business (2008). (COLORED GREEN WORKBOOK) 8.2 References Cabrera, M.E.B, Ledesma, E.F., and Lupisan M.C.Y. (2007). Fundamentals of Accounting_Vol. 1. Manila: GIC Enterprises and Co., Inc. Kieso, D., Kimmel, P. and Wegandt, J. (2008). Accounting Principles, 8th edition. New Jersey: John Wiley and Sons, Inc. Kimwell, Mercedes (2009). Fundamentals of Accounting, 2nd edition. Manila: GIC Enterprises & Co., Inc. Mamalateo, V. (2007). Value Added Tax. Metro Manila: V.C. Mamalateo Law Office. Valencia, E., and Roxas, G. (2009). Basic Accounting, 3rd edition. Baguio City: Valencia Educational Supply.
Requirements for shiftees to BSA

7.2.1 Cumulative GPA of at least 3.0 at time of shifting;<? 7.2.2 Final grade of at least 2.0 in ACTBAS1; 7.2.3 A grade of at least 2.5 in English and Math subjects; 7.2.4 Pass an interview conducted by the Accountancy faculty; and 7.2.5 Pass the qualifying exam