ADVANCED

TUTORIALS

kcwtutorials@gmail.com
 TABLE OF CONTENTS
ABOUT THE TUTORIALS……………………………………………….. 1
COURSE OFFERINGS…………………………………………………….. 2
LIST OF TOPICS…………………………………………………………….. 3
DATES AND SCHEDULING…………………………………………… 12
PAYMENT…………………………………………………………………… 14
REGISTRATION…………………………………………………………… 15
TERMS AND CONDITIONS…………………………………………… 16
CONTACT US………………………………………………………………. 17
 ABOUT THE TUTORIALS

The Advanced Tutorials is an effort to help the students with their accounting
lessons. It aims to provide a student-friendly approach in which students may find
it easier to understand the different accounting concepts.

Any student from any university or college, at their own will, may join the tutorial
sessions.

With the current situation of COVID-19 in the Philippines, the tutorials will be held
virtually through different online platforms (e.g. Zoom, Google Classrooms,
others). Details of which will be provided in the succeeding pages.

The Advanced Accounting Tutorials is personally organized. The organizers do not

represent any organizations or institutions they are part of.

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 COURSE OFFERINGS
The Accounting Tutorials will be conducting tutorial sessions for the following
courses:

FOR INCOMING FIRST YEAR STUDENTS:

During the 1st Semester

1. Financial Accounting and Reporting (FAR)

During the 2nd Semester

1. Intermediate Accounting 1
2. Cost Accounting and Control
3. Conceptual Framework and Accounting Standards

FOR INCOMING SECOND YEAR STUDENTS:

During the 1st Semester

1. Income Taxation
2. Financial Management
3. Intermediate Accounting 2
4. Strategic Cost Management

During the 2nd Semester

1. Business Tax
2. Intermediate Accounting 3

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 LIST OF TOPICS
FINANCIAL ACCOUNTING AND REPORTING
FINANCIAL ACCOUNTING AND REPORTING
NO. TOPICS
1 Basic Accounting Principles and
Concepts
2 Accounting Cycle of a Service
Business
3 Accounting Cycle of a
Merchandising Business
4 Accounting Cycle of a
Manufacturing Business
5 Corporation
SUBTOPICS
• Accounting Concepts and Principles
• Financial Statements
• Qualitative Characteristics of Useful Financial
Information
• Basic Accounting Equation
• Extended Accounting Equation
• Double Entry Bookkeeping System
• Journal Entries
• Adjusting Entries
• Trial Balance
• Preparation of the Financial Statements
• Closing Entries
• Post-closing Trial Balance
• Reversing Entries
• Theories
• Cost of Goods Sold
• Periodic Inventory System
• Perpetual Inventory System
• Gross Price Method
• Net Price Method
• Allowance Method
• Shipping Charged/Freight Terms
• Special Journals and Subsidiary Ledgers
• Inventory Accounts
• Manufacturing Costs
• Non-manufacturing Costs
• Product and Period Costs
• Cost of Goods Sold
• Adjusting Entries
• Closing Entries
• Preparation of Financial Statements
• Theories
• Ordinary and Preference Shares
• Total Shareholder’s Equity
• Total Contributed Capital
• Treasury Shares
• Acquisition of Stocks via exchange of assets
• Par value and Stated value
• Outstanding Shares
• Subscribed shares
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 INTERMEDIATE ACCOUNTING 1

INTERMEDIATE ACCOUNTING 1
NO. TOPICS SUBTOPICS
1 Cash and Cash Equivalents • Nature and Composition of Cash Equivalents
• Nature and Composition of Cash
• Petty Cash Fund
• Bank Reconciliation
• Proof of Cash
2 Receivables • Accounts Receivables
• Trade and Cash Discount
• Notes Receivables
• Amortization Table
• Impairment Loss
• Notes Restructuring
• Receivable Financing
3 Investment in Debt Securities • Debt Investment at Amortized Cost
• Debt Investment at Fair Value through Profit
or Loss
• Debt Investment at Fair Value through Other
Comprehensive Income
• Impairment Loss
• Reclassification of Debt Investment
4 Equity Investment • Equity Investment at Fair Value through Profit
or Loss
• Equity Investment at Fair Value through Other
Comprehensive Income
• Investment in Associate or Joint Venture
• Investment in Subsidiaries
• Share Split
• Dividends
• Share Rights

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 COST ACCOUNTING AND CONTROL

COST ACCOUNTING AND CONTROL

NO. TOPICS SUBTOPICS
1 Cost Behavior • Fixed and Variable Costs
• High-Low Method
• Method of Least Squares
2 Activity-Based Costing • Predetermined overhead rate
• Plantwide Rates
• Departmental Rates
• Activity Rates
3 Job Order System
4 Process Costing • FIFO Costing Method
• Weighted Average Costing Method
5 Cost Allocation • Direct Method of Allocation
• Sequential Method of Allocation
• Reciprocal Method of Allocation
6 Joint Products • Physical Units Method
• Weighted Average Method
• Sales-Value-at-Split-Off Method
• Net Realizable Value Method
• By-Products
7 Standard Costing • Variance Analysis
• Two-way Variance Method
• Three-way Variance Method
• Four-Variance Method

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CONCEPTUAL FRAMEWORK AND ACCOUNTING
STANDARDS
CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS
NO. TOPICS
1 Financial Reporting
2 Conceptual Framework
3 Basis for the Presentation of the • Financial Statements
Financial Statements
4 Preparing the Financial
Statements
5 Change in Accounting Policies,
Change in Accounting Estimates
and Errors
SUBTOPICS
• Users of Accounting Information
• Branches of Accounting
• Standard-Setting Process
•
• The objective of General Purpose Financial
Reporting
• Qualitative Characteristics of Useful Financial
Information
• Financial Statements and the Reporting Entity
• Elements of Financial Statements
• Recognition and Derecognition
• Measurement
• Accounting Policies
• Limitations of the Financial Statements
• Classification of the Reporting entities based
on the applicable Philippine Financial
Reporting Frameworks
• Components of Financial Statements
• Statement of Financial Position
• Statement of Comprehensive Income
• Statement of Cash Flows
• Statement of Changes in Equity
• Notes to the Financial Statements
• Effects of events after the reporting period
• Accounting Treatment for Change in
Accounting Policies
• Accounting Treatment for Errors
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 INTERMEDIATE ACCOUNTING 2

INTERMEDIATE ACCOUNTING 2
NO. TOPICS SUBTOPICS
1 Financial Liabilities • Accounts Payable
• Notes Payable
• Bonds Payable
• Premium and Discount Amortization
• Retirement of Bonds
• Bonds with Equity Characteristics
• Convertible Bonds
• Serial Bonds
• Troubled-Debt Restructuring
2 Inventories • Cost of Inventories
• Items to be included in Inventory Quantities
• Inventory Accounting Systems
• Inventory Cost Allocation Methods
• Measurement of Inventories Subsequent to
Initial Recognition
• Lower of Cost and Net Realizable Value
• Purchase Commitments
• Inventory Estimation Methods
• Retail Inventory Method
• Effects of Inventory Errors
3 Property, Plant and Equipment • Specific Items of Property, Plant and
Equipment
• Determining the Purchase Price
• Depreciation
• Depletion of Natural Resources
• Expenditures after Initial Recognition
• Cost Model
• Revaluation Model
• Impairment of Asset Values
• Impairment of an Asset Carried at Revalued
Amount
• Accounting Changes and Errors affecting
Property, Plant, and Equipment
• Derecognition of Property, Plant and
Equipment
• Reclassification from Property, Plant and
Equipment

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 STRATEGIC COST MANAGEMENT

MANAGEMENT ADVISORY SERVICES

NO. TOPICS SUBTOPICS
1 Cost-Volume-Profit Analysis • CM ratio and variable expense ratio
• BEP (in ratio and in units)
• Margin of Safety
• Change in Net Income
• Degree of Leverage
2 Absorption and Variable Costing • Difference between absorption and
variable costing
3 Master Budget • DL Budget
• DM Budget
• Overhead Budget
• Productions Budget
• Sales Budget
• Expense Budget
4 Capital Budget • Net Present Value
• Internal Rate of Return
• Discounted Cash Flow
• Payback Period
• Others
5 Responsibility Accounting • Cash Management
Ø Cash Conversion Cycle
Ø Normal Operating Cycle
• Account Receivables Management
• Inventory Management
• Accounts Payable Management

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 FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT
NO. TOPICS SUBTOPICS
1 Financial Environment • Financial markets
• Types of financial institutions
• Determinants of interest rates
• Yield curves
2 Financial Statement Analysis • Horizontal Analysis
• Vertical Analysis
• Financial Ratio
• Liquidity Ratio
• Solvency Ratio
• Activity Ratio
• Profitability Ratio
• DuPont Technique
3 Financial Planning and Forecasting • Forecasting sales
• Projecting the assets and internally
generated funds
• Projecting outside funds needed
• Deciding how to raise funds
4 Free Cash Flow • Concept and Computations
5 Interest Rates • Cost of Money and Interest Rate Levels
• Determinants of Interest Rates
• The Term Structure and Yield Curves
6 Risk and Returns • Stand-alone risk
• Portfolio risk
• Risk & return: CAPM / SML
7 Stocks and their Valuation • Features of common stock
• Determining common stock values
• Efficient markets
• Preferred stock
8 Bonds and their Valuation • Key features of bonds
• Bond valuation
• Measuring yield
• Assessing risk
9 Cost of Capital • Cost of Debt
• Cost of Equity
10 Capital Budget • Net Present Value
• Internal Rate of Return
• Discounted Cash Flow
• Payback Period
• Others

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 INCOME TAXATION
INCOME TAXATION
NO. TOPICS
1 General Principles
2 Individual Taxation
3 Fringe Benefits
4 Co-ownership, Estate and
Trusts
SUBTOPICS
• Definition and Concept
• Purpose of Taxation
• Nature and Characteristics of Taxation
• Three Inherent Powers of the State
• Theory and Basis of Taxation
• Principles of a Sound Tax System
• Scope and Limitations of Taxation
• Stages and Aspect of Taxation
• Definition, Nature and Characteristics of Taxes
• Requisites of a Valid Tax
• Tax as distinguished from other forms of exactions
• Kind of Taxes
• Situs of Taxation
• Construction and Interpretation
• Sources of Tax Laws
• Doctrines in Taxation
• Classification of Taxpayers
• Types of Income
• Ordinary Income
• Purely Compensation
• Purely SEP
• Mixed
• Passive Income
• Capital Gains
• Creditable vs. Final Tax
• Quarterly Tax Returns
• Married Taxpayers
• Senior Citizens and PWDs
• Minimum Wage Earners
• Filing
• FBT Defined
• Subjects of FBT
• Nature of FBT
• Tax-exempt FB
• Taxable FB
• Valuation of FB
• Computation of Tax
• Co-ownership, Estate and Trusts defined
• Taxable income of Co-ownership, Estate and Trusts
• Taxable income of other parties
• Classification of Trusts
• Consolidation of two or more trusts’ Tax Return
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5 Corporate Taxation
6 Partnership and Joint
Venture
7 Exclusions and Deductions
• Corporation Defined
• Tax-exempt Corporations
• Types of Tax
• Concept of Minimum Corporate Tax (MCIT)
• Passive Income
• Capital Gains
• Special Corporations
• Improperly accumulated Earnings Tax
• Filing
• Distributive share in the net income of GPP and
Commercial Partnership
• Co-venturer’s share in the JV Profit
• Allowable Deductions
• All exclusions and deductions to Gross Income
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 DATES AND SCHEDULING
The advanced tutorials for the first semester will start on July 20, 2020 and will end
on August 14, 2020. The following is the schedule of the students per week:

FOR INCOMING FIRST YEAR STUDENTS DURING THE FIRST SEMESTER:

Financial Accounting and Reporting – MWF 2PM to 4PM (2HRS)

MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY

10:00AM-
10:30AM
10:30AM-
11:00AM
11:00AM-
11:30AM
11:30AM-
12:00NN
12:00NN-
12:30PM
12:30PM-
1:00PM
1:00PM-
1:30PM
1:30PM-
2:00PM
2:00PM-
2:30PM 2:00PM to 2:00PM to 2:00PM to
2:30PM- 4:00PM 4:00PM 4:00PM
3:00PM
3:00PM-
Financial Financial Financial
3:30PM Accounting Accounting Accounting
3:30PM- and Reporting and Reporting and Reporting
4:00PM
4:00PM-
4:30PM
4:30PM-
5:00PM
5:00PM-
5:30PM
5:30PM-
6:00PM

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FOR INCOMING SECOND YEAR STUDENTS DURING THE FIRST SEMESTER:

Strategic Cost Management – MWF 9:30AM to 11:30AM (2HRS)

Financial Management – MWF 1:00PM to 3:00PM (2HRS)
Intermediate Accounting 2 – TTh 9:00AM to 12:00NN (3HRS)
Income Taxation – TTh 1:30PM to 4:30PM (3HRS)
MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY
7:00AM-
7:30AM
7:30AM-
8:00AM
8:00AM-
8:30AM
8:30AM-
9:00AM
9:00AM-
9:30AM
9:30AM-
10:00AM 9:30AM to
10:00AM- 9:00AM to 9:30AM to 9:00AM to 9:30AM to
11:30AM
10:30AM 12:00NN 11:30AM 12:00NN 11:30AM
Strategic
10:30AM- Intermediate Strategic Cost Intermediate Strategic Cost
11:00AM Cost
Accounting 2 Management Accounting 2 Management
11:00AM- Management
11:30AM
11:30AM-
12:00NN
12:00NN-
12:30PM
12:30PM-
1:00PM
1:00PM-
1:30PM
1:30PM- 1:00PM to 1:00PM to 1:00PM to
2:00PM 3:00PM 3:00PM 3:00PM
2:00PM- Financial Financial Financial
2:30PM Management Management Management
2:30PM- 1:30PM to 1:30PM to
3:00PM 4:30PM 4:30PM
3:00PM- Income Income
3:30PM Taxation Taxation
3:30PM-
4:00PM
4:00PM-
4:30PM
4:30PM-
5:00PM

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 PAYMENT
The fees of the tutorials will be as follows:
For the First Semester

- For Incoming 1st year students – Php 1,500*

- For Incoming 2nd year students – Php 4,000*

*Due to the worsening situation of COVID-19 in the Philippines, fees are adjusted
considering that the tutorials have to switch from on-site to online discussions.

The fees are inclusive of all the tutoring sessions and all other expenses deemed
necessary to conduct the tutorials. The learning materials that will be used will be
given free-of-charge as part of the tutoring session.

You may pay through:

GCash
Account No.: 09173969592
Account Name: Karl Ysmael F. Lorenzo

BDO
Account No.: 006570196013
Account Name: Karl Ysmael F. Lorenzo

Metrobank
Account No.: 054-3-054-42320-0
Account Name: Karl Ysmael F. Lorenzo

BPI
Account No.: 0039 6334 93
Account Name: Karicia Ann F. Lorenzo

If you opt to have over-the-counter payment, please secure the validated deposit
slip. The slip will be necessary to accomplish the registration forms. Please note
that the fees are NON-REFUNDABLE and NON-TRANSFERABLE.

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 REGISTRATION
To join our tutorial sessions, please accomplish the following steps:

1. Accomplish our Pre-registration Form UNTIL JULY 10, 2020 ONLY.

Pre-registration Forms Link: https://forms.gle/odLdP8wf9JijhAP57

NOTE: Advanced tutorials only have limited slots. First-come-first-serve

basis will be observed.

2. Pay the necessary fees UNTIL JULY 10, 2020 ONLY (refer to page 14)

3. After paying the fees, please accomplish the Registration Form to confirm
your slot.
Registration Forms Link: https://forms.gle/5cpB3biXXAqN5iM76

4. Join our Facebook group for further announcements:

a. For Incoming 1st Year students: https://bit.ly/2UPR57p
b. For Incoming 2nd Year students: https://bit.ly/3d7yv0Z

*Separate messenger group chat will be created for easier dissemination

of information.

5. Download Zoom to your respective devices as it will be used for the sessions.
TERMS AND CONDITIONS
1. The organizers of the advanced tutorials do not represent any
organization/s, college, and/or workplace they are part of.

2. The tutorials will be done virtually through different online applications or

platforms due to the worsening situation of COVID-19 in the Philippines.

3. The fees are inclusive of all the tutoring sessions and other expenses that the
organizers may deem necessary and relevant for conducting the advanced
tutorials.

4. The fees are non-refundable and non-transferable.

5. Suspension of online classes may be done in accordance with the weather

forecast of the government and other agencies to pave the way for those students
who cannot properly attend the online classes because of power interruption,
unstable internet connection, and other relevant events.

6. The conduct of activities via the online learning (e.g. online discussion, real-
time quizzes, etc.) may be done as deemed necessary by the online lecturers.

7. In the event of any casualties or unfortunate events that may happen during
the conduct of online classes, the organizers will not be held liable for such.

By registering and joining in the advanced tutorials, the applicant understands and
agrees to the terms and conditions stated above.

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 CONTACT US
If you have any queries or further clarifications, you may contact us through our e-
mail kcwtutorials@gmail.com.

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