De La Salle University

COLLEGE
COURSE CODE
FACULTY

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CLASS DAYS AND

CLASS TIME

RVRCOB
MODADV3
Mark Vincent B. Bendo
Aaron C. Escartin
Alger C. Tang
Florenz C. Tugas
Mondays to Saturdays

DEPARTMENT
CREDIT
TYPE OF
COURSE

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ROOM

Accountancy
Three (3) units
Major Subject

COURSE DESCRIPTION:
This course (MODADV3 or Advanced Topics in Financial Accounting & Reporting) covers advanced
topics in financial accounting and reporting based on international financial reporting standards. It will
discuss advanced topics such as accounting for borrowing costs, impairment of assets, agricultural and
biological assets, leases, employee benefits, derivatives and hedging transactions, income taxes, and
financial reporting in hyperinflationary economies. This course also includes accounting and reporting
for specific organizations such as not-for-profit organizations (NPOs), small and medium enterprises
(SMEs) and government institutions based on the New Government Accounting System (NGAS).
LEARNING OUTCOMES:
UNIVERSITY EXPECTED LASALLIAN
GRADUATE ATTRIBUTES (ELGA)

LEARNING OUTCOMES
On completion of the course, the student is expected to
be able to do the following:
LO1: Apply special topics in financial accounting and
reporting in the preparation of financial statements.

A.

Critical and creative thinker

B.

Effective communicator

LO2: Prepare business reports by applying accounting

standards and principles learned.

C.

Reflective lifelong learner

LO3: Recognize the importance of changing accounting

standards in the context of domestic and international
business environment.

FINAL COURSE OUTPUT:

As of 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 OUTCOMES

REQUIRED OUTPUTS

A.

LO1: Apply special topics in

financial accounting and reporting
in the preparation of financial
statements.

Complete proposed solutions to problems

and cases every meeting.

Day 1 to 9

B.

LO2: Prepare business reports by

applying accounting standards
and principles learned.

At least one (1) oral report discussing the

solutions to the problems and cases during
the term.

Day 1 to 9

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DUE DATE

C.

LEARNING OUTCOMES

REQUIRED OUTPUTS

DUE DATE

LO3: Recognize the importance

of changing accounting standards
in the context of domestic and
international
business
environment.

One (1) reflection paper discussing the

issues encountered and insights realized
about the accounting standards and
principles learned during the term, or one (1)
group written case analysis or paper
applying the accounting standards and
principles learned during the term.

Day 11

RUBRIC FOR ASSESSMENT:

Proposed Solutions to Problems and Cases
CRITERIA
EXEMPLARY
SATISFACTORY
96-100
91-95
Solution content
The student
The student
(50%)
provides
provides
correct
substantially
solutions to
correct solutions to
problems and
problems and
cases.
cases.
Completeness of
solutions (50%)

Oral Report
CRITERIA
Delivery (40%)

Presentation
content/solution
(30%)

DEVELOPING
86-90
The student
provides partly
correct and
partly incorrect
solutions to
problems and
cases.
The student
prepared
solutions to
some problems
and cases
before reporting
to class.

BEGINNING
81-85
The student
provides
mostly
incorrect
solutions to
problems and
cases.
The student
did not
prepare
substantially
solutions to
problems and
cases before
reporting to
class.
RATING

RATING

BEGINNING
81-85
The studentpresenter
communicates
and explains
vaguely the
solutions to
the problems
or cases, and
does not
generate
interest
among the
audience.
The studentpresenter
presents
incorrect
solutions to
the problems
or cases but
corrects the
solutions to
these
problems or
cases.

RATING

The student
prepared
solutions to all
problems and
cases before
reporting to
class.

The student
prepared solutions
to most problems
and cases before
reporting to class.

EXEMPLARY
96-100
The studentpresenter
communicates
and explains
clearly the
solutions to the
problems or
cases, and
generates
interest and
establishes
rapport among
the audience.
The studentpresenter
presents
correct
solutions to the
problems or
cases by
showing all
relevant
supporting
calculations or
proofs, and
relating these
solutions to the
business
world.

SATISFACTORY
91-95
The studentpresenter
communicates and
explains clearly the
solutions to the
problems or cases,
and generates
some interest
among the
audience.

DEVELOPING
86-90
The studentpresenter
communicates
and explains
somewhat
clearly the
solutions to the
problems or
cases, and
generates little
interest among
the audience.

The studentpresenter presents

correct solutions to
the problems or
cases by showing
certain supporting
calculations or
proofs, and
somewhat relating
these to the
business world.

The studentpresenter
presents partly
or entirely
correct
solutions to the
problems or
cases by
showing
supporting
calculations or
proofs.

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CRITERIA

EXEMPLARY
96-100
The studentpresenter
provides
correct or valid
answers to the
questions,
explains these
clearly, and
presents
valid/sensible
arguments to
support/justify
the answers to
the questions
raised.

SATISFACTORY
91-95
The studentpresenter provides
correct or valid
answers, explains
these somewhat
clearly, and
presents some
valid/sensible
arguments to
support/justify the
answers to the
questions raised.

DEVELOPING
86-90
The studentpresenter
provides partly
or entirely
correct or
valid/sensible
answers,
explains these
somewhat
clearly.

BEGINNING
81-85
The studentpresenter
provides
incorrect or
non-sensible
answers to
the questions
raised but
somehow
provides
partly or
entirely
correct or
valid/sensible
answers
through
follow-up
questions.
RATING

RATING

EXEMPLARY
96-100
The group
identifies
interesting and
relevant
accounting
issues.

SATISFACTORY
91-95
The group
identifies
somewhat
interesting and
relevant
accounting issues.

The group
provides valid,
sensible and
logical analysis
of issues
identified, and
provides valid,
sensible, and
logical
arguments or
supports.

The group
provides
somewhat valid,
sensible and
logical analysis of
issues identified,
and provides some
valid, sensible and
logical arguments
or supports.

BEGINNING
81-85
The group
identifies not
interesting
and not
relevant
accounting
issues.
The group
provides nonsensible
analysis of
issues
identified.

RATING

Depth and
quality of
analysis of
issues (50%)

Teamwork
(20%)

The group is
organized and
shows strong
teamwork and
camaraderie
as evidenced
in the written
report.

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

DEVELOPING
86-90
The group
identifies less
interesting but
somewhat
relevant
accounting
issues.
The group
provides
somewhat valid,
sensible and
logical analysis
of issues
identified but
these are not
properly
supported by
valid, sensible
and logical
arguments or
supports.
The group is
somewhat
organized and
shows a hint of
teamwork as
evidenced in
the written
report.

Question and
answer (30%)

Term Paper
CRITERIA
Quality of issues
identified (30%)

The group is
disorganized
and shows
lack of
teamwork as
evidenced in
the written
report.
RATING

OTHER REQUIREMENTS AND ASSESSMENTS:

Aside from the final output, the student will be assessed at other times during the term by the following:
Examinations
Comprehensive Exam
Recitation/Class participation
Attendance/Class citizenship

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GRADING SYSTEM:
GRADE POINT
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.0

DESCRIPTION

PERCENTAGE

Excellent
Superior
Very Good
Good
Satisfactory
Fair
Pass
Fail

97-100
94-96
91-93
87-90
83-86
77-82
70-76
Below 70

The percentage equivalent shall be arrived at as follows:

BASIS

FINAL
GRADE
20%
20%
20%
20%
10%

First Examination
Second Examination
Third Examination
Comprehensive Examination
Reports & Class Participation (oral reports,
assignments, recitation/class participation and
attendance)
Term Paper
Total

10%
100%

Course grade requirement is at least 83%.

LEARNING PLAN:
LEARNING
OUTCOME

UNIT

TOPICS

WEEK
NO.

NO. OF
HOURS

REF

LEARNING
ACTIVITIES

2.5

PAS 23
PAS 39

Lecture,
Reporting,
Discussion,
Drills and
Exercises

4.0

PAS 36
PFRS 13
PFRS 3

Lecture,
Reporting,
Discussion,
Drills and
Exercises

2.0

PAS 41
PFRS 13
PAS 16

Lecture,
Reporting,
Discussion,

PART I SPECIAL TOPICS IN

ACCOUNTING FOR ASSETS
LO1, LO2,
LO3

LO1, LO2,
LO3

LO1, LO2,
LO3

Borrowing costs
1.1 Requirements of PAS 23
1.2 Qualifying assets
1.3 Definition of borrowing costs
1.4 Borrowing costs eligible for
capitalization
1.5 Commencement, suspension and
cessation of capitalization
1.6 Disclosure requirements
Impairment of assets
2.1 Requirements of PAS 36
2.2 Fair value less costs of disposal
2.3 Value in use
2.4 Recognition and reversal of
impairment losses
2.4.1 Impairment of tangible
assets
2.4.2 Impairment of intangible
assets
2.4.3 Impairment of cash
generating units (CGUs)
2.4.4 Impairment of goodwill
2.5 Group issues
2.6 Disclosure requirements
Agriculture
3.1 Requirements of PAS 41
3.2 Recognition and measurement
principles

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LEARNING
OUTCOME

UNIT

TOPICS

WEEK
NO.

NO. OF
HOURS

REF

3.3 Government grants

3.4 Measurement of fair value less
costs to sell
3.5 Disclosure requirements
3.6 Future developments
FIRST EXAMINATION

LEARNING
ACTIVITIES
Drills and
Exercises

2.0

PART II ACCOUNTING FOR

ADDITIONAL ACTIVITIES OF
A BUSINESS
LO1, LO2,
LO3

LO1, LO2,
LO3

Leases
4.1 Lease transactions
4.2 Requirements of PAS 17
4.3 Accounting for operating leases
4.4 Accounting for finance leases
4.5 Sale and leaseback transactions
4.6 Accounting for arrangements
containing a lease
4.7 Disclosure requirements
4.8 Future developments
Employee benefits
5.1 Requirements of PAS 19
5.2 Short-term employee benefits
5.2.1 Recognition criteria
5.2.2 Short-term compensated
absences
5.2.3 Profit-sharing and bonus
plans
5.3 Long-term employee benefits
5.4 Termination benefits
5.5 Pensions and other postemployment benefits
5.5.1 Defined contribution plans
5.5.2 Defined benefit plans
5.6 Long-term employee benefits
5.7 Disclosure requirements
5.8 Future developments
SECOND EXAMINATION

LO1, LO2,
LO3

LO1, LO2,
LO3

5.0

PAS 17
IFRIC 4
SIC 15
SIC 27
PFRS 16

4.0

PAS 19
IFRIC 14

Lecture,
Reporting,
Discussion,
Drills and
Exercises

Lecture,
Reporting,
Discussion,
Drills and
Exercises

2.0

Derivatives and hedging activities

6.1 Nature and types of derivatives
6.2 Accounting for stand-alone
derivatives and hedging activities
6.2.1 Speculation
6.2.2 Fair value hedge
6.2.3 Cash flow hedge
6.3 Embedded derivatives
6.4 Disclosure requirements
Income taxes
7.1 Requirements of PAS 12
7.2 Accounting for current income tax
7.2.1 Regular corporate income
tax (RCIT)
7.2.2 Special income tax rates
7.2.3 Minimum corporate
income tax (MCIT)
7.3 Accounting for deferred income tax
7.3.1 Deferred tax assets
7.3.2 Deferred tax liabilities
7.3.3 Realizability of deferred
tax assets

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4.0

PAS 32
PAS 39
PFRS 7
IFRIC 9
PFRS 9

Lecture,
Reporting,
Discussion,
Drills and
Exercises

4.0

PAS 12
SIC 21
SIC 25

Lecture,
Reporting,
Discussion,
Drills and
Exercises

LEARNING
OUTCOME

UNIT

TOPICS

WEEK
NO.

NO. OF
HOURS

REF

LEARNING
ACTIVITIES

7.3.4

Unused net operating loss

carry over (NOLCO)
7.3.5 Unused tax credits (e.g.,
excess MCIT over RCIT)
7.4 Disclosure requirements
7.5 Future developments
THIRD EXAMINATION
LO1, LO2,
LO3

2.0

Hyperinflation
8.1 Requirements of PAS 29
8.2 Restatement of statement of
financial position
8.3 Restatement of statement of
changes in equity
8.4 Restatement of statement of
comprehensive income and
income statement
8.5 Restatement of statement of cash
flows
8.6 Disclosure requirements

1.5

PAS 29
IFRIC 7

Lecture,
Reporting,
Discussion,
Drills and
Exercises

2.0

PFRS for
SMEs

Lecture,
Reporting,
Discussion,
Drills and
Exercises

2.0

FASB
Statement
Nos. 93, 116,
117 & 124
AICPA
Guidelines,
Various
PFRSs

Lecture,
Reporting,
Discussion,
Drills and
Exercises

2.0

Government
Accounting
Manual

Lecture,
Reporting,
Discussion,
Drills and
Exercises

PART III ACCOUNTING FOR

SPECIFIC ORGANIZATIONS
LO1, LO2,
LO3

LO1, LO2,
LO3

LO1, LO2,
LO3

10

11

Small and Medium Enterprises

9.1 Requirements of PFRS for SMEs
9.2 Components of SME financial
statements
9.3 General recognition and
measurement principles
9.4 Differences between full PFRS and
PFRS for SMEs
9.5 Transition from full PFRS to PFRS
for SMEs
Not-for-Profit Organizations
10.1 Operations of not-for-profit
organizations
10.2 Funds and fund accounting
10.3 Accounting and financial
statement preparation
10.4 Voluntary health and welfare
organizations
10.5 Hospitals and other health care
organizations
10.6 Private colleges and universities
10.7 Other not-for-profit organizations
Government Accounting
11.1 Basic concepts in government
accounting
11.2 Government budgeting
11.3 Government accounting for
National Government Agencies
11.3.1 Basic standards and
policies
11.3.2 Budget execution,
monitoring and reporting
11.3.3 Responsibility accounting
11.3.4 Revenue, other receipts
and disbursements
11.3.5 Accounting for assets and
liabilities
11.3.6 Financial reporting

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LEARNING
OUTCOME

UNIT

TOPICS

WEEK
NO.

COMPREHENSIVE EXAM
TOTAL HOURS

NO. OF
HOURS
3.0

REF

LEARNING
ACTIVITIES

42.0

VI. REFERENCES:
1. 2016 MODADV3 Handouts
2. Spiceland, David J.; Sepe, James F.; Nelson, Mark W.; Tan, Pearl; Low, Bernardine; &
Low,Kin-Yew. (Latest edition). Intermediate Accounting, IFRS Edition. United States: McGraw
Hill/Irwin.
3. Kieso, D., Weygandt J., & Warfield, T. (Latest edition). Intermediate Accounting, IFRS Edition.
United States: John Wiley & Sons, Inc.
4. Stice, J.D., Stice, E.K., Skousen, K. F. (Latest edition). Intermediate Accounting. Ohio:
Thomson Higher Education.
5. Tan, P., Lee, P. (Latest edition). Advanced Financial Accounting, An IAS and IFRS Approach.
Singapore: McGraw-Hill Education (Asia).
6. Philippine Accounting Standards (PAS)/Philippine Financial Reporting Standards (PFRS)
7. Philippine Interpretations IFRIC
8. Philippine Interpretations SIC
9. International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS)
10. Financial Accounting Standards Board (FASB) Statements on Not-for-Profit Organizations
11. CPA Review Materials
12. AICPA Uniform CPA Board Examinations
13. Philippine CPA Board Examinations
14. Government Accounting Manual (GAM)
15. Intermediate Accounting Textbooks (latest edition 2008 and up)
16. Advanced Accounting Textbooks (latest edition 2008 and up)
VII. ONLINE RESOURCES:
1.
2.
3.
4.
5.
6.

www.wiley.com
www.cengageasia.com
www.mhhe.com
www.pearsonhighered.com
www.iasplus.com
www.coa.gov.ph

VIII. CLASS POLICIES:

1. Classroom Discussion The professor will discuss certain topics/principles and relate these to the
actual practice. There will always be student participation through recitation.
2. Problem-Based Approach Students will be assigned individual and/or group problems for
individual or group presentation. They will present the solutions to the problems in class by
applying the various financial accounting principles covered by the course and those discussed in
the pre-requisite courses. The problems will be used to illustrate these financial accounting
principles. The professor/instructor will always ask questions about the problems and solutions.
Other non-reporting/non-presenting students may also questions. The professor/instructor will
summarize the principles covered by the problems after every topic. Non-reporting students are
also required to solve the problems before coming to class. The solutions will be checked by the
professor/instructor.
3. Term Paper The term paper is about an accounting issue which may need resolution with the
following format:
a. Introduction identification of the accounting issue and the relevant accounting
standards.
b. Impact on financial reporting and analysis discussion of the impact of the accounting
issue on the financial statements and analysis.
c. Proposal proposal to resolve the accounting issue with basis.
d. Conclusion and recommendation - conclude on the impact of the accounting issue on
financial reporting and analysis and proposals to address the issue, and
recommendation.
Advanced Accounting Committee
August 2016

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