Scope and Sequence ACCY 13

DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City
SCHOOL OF BUSINESS AND ACCOUNTANCY

SCOPE AND SEQUENCE
PHILOSOPHY OF DMC-CFI EDUCATION
Dipolog Medical Center College Foundation, Inc. maintains that full development of a persons
potentials depends largely on the nature, level and suitability of stimuli and the challenges he encounter
in daily life. The role of DMCCFI as institution is such that it serves as a rich interactive environment
where the student is continually encouraged, motivated, and more importantly, challenged to produce
the optimal use of his innate and acquired skills.
SCHOOL VISION
Our vision is to be a leading educational institution, highly regarded for our commitment to
students; distinguished for excellence in instruction as responsive to the communities we serve.
SCHOOL MISSION
Guided by our vision, Dipolog Medical Center College Foundation will become a premier
educational institution through: quest for excellence, academic and professional competence, advance in
information technology, community involvement, working partnership, global perspective and over-all
learning experience.
GENERAL OBJECTIVES OF SCHOOL OF BUSINESS AND ACCOUNTANCY
The DMC College Foundation School of Business and Accountancy has the following objectives:
1. To mold all students to become computer literate, socially responsible, globally aware, analytical,
and reasonable decision-making individuals who are competent in interpersonal, oral and
written communication skills.
2. To produce graduates who are well-versed in the fundamental economic and business principles,
as well as the practical application of those principles in the simulated business setting.
3. To design our educational programs in ways that prepares students or leadership roles in the
dynamic, domestic and global.
4. To deliver business professional who will be perceived not just business managers but leaders in
the society.
5. To constantly update the curricula of the different programs to prepare students to adapt to the
rapidly changing technology and to recognize diversity in the work place.
6. TO ensure that faculty members are responsible, committed and qualified in their respective
fields or profession.
7. To promote among the faculty members integrity, professionalism and compliance to the latest
trends, standards and developments in their chosen field of expertise.
8. To emphasize social responsibility as one of the business cores in nurturing well-rounded
business professionals of the future.
COURSE CODE :
COURSE TITLE :
CREDIT UNIT :
LECTURE HOUR PER WEEK :
I. COURSE DESCRIPTION
This is a review course for the graduating BSA students. It covers two out of seven Philippine CPA
board examination subjects as governed by Republic Act (R.A.) 9298 otherwise known as Philippine
Accountancy Act of 2004. It helps the graduating BSA students to be ready for their proper review
program after graduation in the preparation of the CPA Board Examination given by the Board of
Accountancy (BOA) thru Professional Regulation Commission (PRC).
The first subject of this course is Practical Accounting 1. It covers 15-unit subjects in the
undergraduate program such as: Financial Accounting part 1 that focuses on conceptual framework
and accounting for specific types of assets; Financial Accounting part 2 that focuses on accounting
for specific types of liabilities and accounting for shareholders equity; and Financial accounting part
3 that focuses on constructive accounting, drafting of the 5 types of financial statements, and other
miscellaneous topics such as, single entry bookkeeping, cash and accrual basis accounting and small
and medium enterprises accounting.
The second subject of this course is Practical Accounting 2 (Advanced Accounting). It covers 18-
unit subjects in the undergraduate program such as Partnership accounting, Cost Accounting and
Cost Management and Advanced Accounting parts 1 and 2.
II. COURSE OBJECTIVES
At the end of this course, students must be able to:

1. Recall the basic accounting process
2. Describe the nature, formation, operations, dissolution and liquidation of partnership business.
3. Define liquidation of partnership, corporate liquidation, installment sales, long-term
construction projects and franchises;
4. Apply the generally accepted accounting principles in the area of partnership corporate
liquidation, installments sales and long term construction projects and franchises.
5. Perform procedures to complete the above-mentioned activities and processes to satisfy a
prospective client along these lines of services.
6. Explain the nature and kinds of business combination;
7. Explain the method of accounting for business combinations.
8. Explain the nature of and justification for consolidated financial statements and the conditions
warranting their preparation;
9. Prepare consolidated working papers and consolidated financial statements
10. Know the Accounting of joint and by products
11. Know the nature and accounting using job order costing system
12. Have a sound knowledge and firm foundation on the generally accepted principles, rules and
methods applicable to the recognition, measurement, valuation and presentation of assets,
liabilities and stockholders equity
13. Realize that compliance and adherence to the application of Philippine Accounting Standards
(PAS) and Philippine Financial Reporting Standards (PFRS) will lead to the proper presentation of
Financial Statements
14. Point out the importance of compliance and adherence to the application of PAS and PFRS will
lead t the proper presentation of financial statements.
III. METHODOLOGY
Interactive discussions, lecture with related accounting standards, pre-tests and post-tests, long
examination, and individual and group oral reporting.
IV. MEDIUM OF INSTRUCTION

English, Filipino and Bisaya are the medium of instruction of this course.
V. COURSE OUTLINE TIME FRAME

1. Orientation Week 1
1.1 Review of DMCCFI Philosophy of Education
1.2 Overview of the course description, citing significance
And integration in the context of DMCCFI Philosophy
Of education
2. Review of Accounting Process Week 1

2.1 The Accounting Process
2.2 Summary of Debit and Credit Analysis
2.3 Review of Adjusting Entries
2.4 Accruals
2.5 Prepayments or Deferred Expenses
2.6 Precollections or deferred income
2.7 Depreciation and Amortization
2.8 Uncollectible Accounts
2.9 Ending Inventory
2.10 Review of Accounting Errors
2.11 Types of Accounting Errors
2.12 Perpetual vs. Counter Balancing Errors
3. Accounting for Partnership
3.1 Nature Of Partnership Business Week 2

3.1.1 Basic Considerations
3.1.2 Definitions of Partnership
3.1.3 Major Characteristics of Partnership
3.1.4 Requisites of a Partnership
3.1.5 Advantages and Disadvantages of a Partnership
3.1.6 Distinction of Partnership and Corporation
3.1.7 Kinds of Partnership
3.1.8 Kinds of Partners
3.2 Accounting For Partnership Formation Week 2

3.2.1 Basic Accounting Equation
3.2.2 Partnership Accounts
3.2.3 Partners Capital Accounts
3.2.4 Partners Drawing Account
3.2.5 Loans Receivable from Partners
3.2.6 Loans Payable to Partners
3.2.7 Loans to and From Partners
3.2.8 Partnership Formation
3.2.9 Issues in Capital Contribution

3.2.10 Stages from which Partnerships are Formed
3.2.11 Bonus or Goodwill on Initial Investments
3.2.12 Additional Investments and Withdrawals
3.2.13 Partners Interest in the Profits vs. Partners Interest in the Partnership
3.3 Accounting for Partnership Operations Week 2

3.3.1 Nature of Partnership Operations
3.3.2 Distribution of Profits and Losses
3.3.3 Rules on Profit Sharing
3.3.4 Rules on Loss Sharing
3.3.5 Methods of Computing Profit and Loss Distributions
3.3.6 Allowance of Interest on Partners Capital
3.3.7 Salaries or Bonus Allowed for Partners Services
3.3.8 When Interests and Salaries are Treated as Expenses
3.4 Accounting for Partnership Dissolution Week 3

3.4.1 Nature of partnership dissolution
3.4.2 Causes of dissolution
3.4.3 Accounting for dissolution
3.4.4 Admission of New partner
3.4.5 Withdrawal, Retirement or Death of a Partner
3.4.6 Interest is old to outside party
3.4.7 Interest is sold to one or all of the partners
3.4.8 Interest is sold to the partnership
3.4.9 Insolvency of a Partnership or a Partner
3.4.10 Accounting for Incorporating a Partnership
3.5 Accounting for Partnership Liquidation Week 3

3.5.1 Nature of Partnership Liquidation
3.5.2 Methods of liquidation
3.5.3 Lump sum liquidation
3.5.4 Instalment liquidation
3.5.5 Schedule of safe payments
3.5.6 Cash priority program
1. COST ACCOUNTING- Joint products and By-products Accounting Week 4

4.1 Joint costs
4.2 Characteristics of main products
4.3 Characteristics of by-products
4.4 Accounting for main products
4.5 Accounting for by-products
4.6 Replacement Cost Method
4. COST ACCOUNTING- Job Order Costing Week 4

5.1 Job Order Cost Sheet
5.2 Accounting Procedures for Materials

5.3 Accounting Procedures for Labor
5.4 Accounting Procedures for Factory Overhead
PRELIMINARY EXAMINATION Week 4
5. COST ACCOUNTING- Process Costing System Week 5

6.1 Nature of process costing system
6.2 Comparison of Job order and Process Costing
6.3 Characteristics of FIFO costing method
6.4 Characteristics of Average costing method
6.5 Computation of Equivalent unit of production
6.6 Computation of Cost Allocation
6. COST ACCOUNTING- Standard Costing System Week 5

7.1 Nature of Standard Costing System
7.2 Purposes of Standard Costs
7.3 Types of Variances
7.4 Computation of Variances
7. Elements of Financial Statements Week 6

8.1 Assets
8.2 Liabilities
8.3 Equity
8.4 Income
8.5 Expenses
8. Inventories and Inventory Estimations Week 7
9. Biological Assets and Agricultural Produce Week 7
10. Property, Plant and Equipment Week 7

11.1 Acquisition and Subsequent Expenditures
11.2 Depreciation and Derecognition
11.3 Revaluation
11. Investment Property Week 7
12. Borrowing Cost Week 8
13. Intangible Assets Week 8
14. Wasting Assets Week 8
15. Impairment of Nonfinancial Assets and Noncurrent Assets Held for Sale Week8
MIDTERM EXAMINATION Week 8

16. Joint Arrangements Week 9
17. Corporate Liquidation Week 9
18. Instalment Sales Week 10
19. Franchisor Accounting Week11
20. Long Term Construction Contracts Week 11
21. Home Office and Branch Accounting week 12
SEMIFINAL EXAMINATION Week 12
22. Business Combination- Mergers Week 13
23. Consolidated Statements Week 13
24. Cash and Cash Equivalents and Bank Reconciliation Week 14
25. Trade and Other Receivables Week 14
26. Liabilities Week 14

27.1 Current Liabilities
27.2 Bonds Payable
27.3 Provisions and Contingencies
27.4 Income Taxes
27. Equity Week 14

Changes in Equity
Retained Earnings
Book Value per share
Earnings per share
28. Accounting Process Week 15
29. Cash and Accrual Basis and Single Entry Week 15
30. Accounting Changes and Errors Week 15
31. Financial Statements Week 15

Statement of Comprehensive Income
Statement of Financial Position
Statement of Cash Flows
FINAL EXAMINATION Week 15
VI. REFERENCES
A. Book
FINANCIAL ACCOUNTING volume 1, 2 and 3
By: CONRADO VALIX, JOSE PERALTA and CHRISTIAN ARIS M. VALIX
PRACTICAL ACCOUNTING 1
By: CONRADO VALIX
PRATICAL ACCOUNTING 1
By: CONRAD UBERITA
ADVANCED ACCOUNTING volume 1 and 2
By: Pedro P. Guerero, Jose F. Peralta
By: DAYAG
By: Punzalan
COST ACCOUNTING
By: Norma de Leon, Guillermo de Leon
VII. EVALUATION PROCEDURES

CLASS PARTICIPATION/ QUIZZES 40%
ATTENDANCE 10%
PROJECTS/ ASSIGNMENTS 10%
MAJOR EXAMINATION 40%
TOTAL 100%
DATE REVISED: January 2016
PREPARED BY: Gina Lou M. Cacho, CPA
CHECKED BY: MRS. RACHELL-ANN B. BULJATIN, CPA

OIC-Dean, School of Business and Accountancy
APPROVED BY: Dr. DINO JOEY L. CORDOVA

Dean of Instruction/ VP for Academic Affairs

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DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION

Sta. Filomena, Dipolog City

SCHOOL OF BUSINESS AND ACCOUNTANCY

PHILOSOPHY OF DMC-CFI EDUCATION

GENERAL OBJECTIVES OF SCHOOL OF BUSINESS AND ACCOUNTANCY

II. COURSE OBJECTIVES

At the end of this course, students must be able to:

IV. MEDIUM OF INSTRUCTION

V. COURSE OUTLINE TIME FRAME

2. Review of Accounting Process Week 1

3. Accounting for Partnership

3.1 Nature Of Partnership Business Week 2

3.2 Accounting For Partnership Formation Week 2

3.2.9 Issues in Capital Contribution

3.3 Accounting for Partnership Operations Week 2

3.4 Accounting for Partnership Dissolution Week 3

3.5 Accounting for Partnership Liquidation Week 3

1. COST ACCOUNTING- Joint products and By-products Accounting Week 4

4. COST ACCOUNTING- Job Order Costing Week 4

5.2 Accounting Procedures for Materials

PRELIMINARY EXAMINATION Week 4

5. COST ACCOUNTING- Process Costing System Week 5

6. COST ACCOUNTING- Standard Costing System Week 5

7. Elements of Financial Statements Week 6

8. Inventories and Inventory Estimations Week 7

9. Biological Assets and Agricultural Produce Week 7

10. Property, Plant and Equipment Week 7

11. Investment Property Week 7

12. Borrowing Cost Week 8

13. Intangible Assets Week 8

14. Wasting Assets Week 8

MIDTERM EXAMINATION Week 8

16. Joint Arrangements Week 9

17. Corporate Liquidation Week 9

18. Instalment Sales Week 10

19. Franchisor Accounting Week11

20. Long Term Construction Contracts Week 11

21. Home Office and Branch Accounting week 12

SEMIFINAL EXAMINATION Week 12

22. Business Combination- Mergers Week 13

23. Consolidated Statements Week 13

24. Cash and Cash Equivalents and Bank Reconciliation Week 14

25. Trade and Other Receivables Week 14

26. Liabilities Week 14

27. Equity Week 14

28. Accounting Process Week 15

29. Cash and Accrual Basis and Single Entry Week 15

30. Accounting Changes and Errors Week 15

31. Financial Statements Week 15

VII. EVALUATION PROCEDURES

DATE REVISED: January 2016

PREPARED BY: Gina Lou M. Cacho, CPA

CHECKED BY: MRS. RACHELL-ANN B. BULJATIN, CPA

APPROVED BY: Dr. DINO JOEY L. CORDOVA

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