Page 1 of 11 

MASTERS TECHNOLOGICAL INSTITUTE OF

MINDANAO 

VISION

 A renowned leading Institution of quality programs in Accountancy, Technology, Information System, Office Management, and Education.

MISSION

To provide quality educational programs equipped with technological and entrepreneurial skills grounded with moral values to meet the global standards through
relevant instructions, research, extension and production with sustainable economic and socio-cultural impact that will benefit the Institute and the community at
large.

COURSE NAME : CONCEPTUAL FRAMEWORK AND ACCOUNTING

STANDARDS
COURSE CODE : ACCTG 13
COURSE CREDITS : 3 UNITS
CONTACT HOURS : 54 HOURS

COURSE DESCRIPTION:
This course is designed to provide students with knowledge on the current financial reporting framework of businesses. This course deals with the financial reporting
principles embodied in the Conceptual Framework for Financial Reporting and the Philippine Financial Reporting Standards (PFRSs), which are issued by the
Financial Reporting Standards Council (FRSC).

GENERAL OBJECTIVES: Upon completion of this course, the learners are expected to: 
  Gain appreciation of the financial reporting standards, particularly their development, application and impact to the business environment.


  Demonstrate knowledge, skills and positive attitudes to the concepts and principles of financial reporting for businesses as applied to real life situations.


  Demonstrate knowledge in identifying the appropriate financial reporting standards to apply to specific business transactions and other events.
   Demonstrate skills in applying the principles of the financial reporting standards through problem solving.
Acctg 13 –  CONCEPTUAL FRAMEWORK AND ACCOUNTING STANDARDS 
  

Page 2 of 11 

I. DETAILED COURSE OUTLINE

Learning Goals Content Topic Learning Outcomes OBE Methodologies AllToitme nt

EMvealusuatrievse

FIRST GRADING COVERAGE 13.5 hrs.

To provide students OVERVIEW OF ACCOUNTING The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
with an overview of 1. Definition of accounting 1. Define accounting and state its basic presentation  2. Recitation
the nature of 2. Basic purpose of accounting purpose. 2. Application of 3. Assignments
accounting and the 3. Accounting Concepts 2.Explain the basic concepts applied in concepts  4. Quiz
development of 4. Common Branches of Accounting accounting. 3. Classroom
accounting 5. Four Sectors in the practice of 3.State the branches of accounting and the Q&A
standards  Accountancy sectors in the practice of accountancy.
6. Accounting Standards 4. Explain the importance of a uniform set of
financial reporting standards.
To provide students CONCEPTUAL FRAMEWORK FOR The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of FINANCIAL REPORTING 1. State the basic purpose, authoritative presentation 2. Recitation
the Conceptual 1. Authoritative status. status, and scope of the Conceptual 2. Application of 3. Assignments
Framework
2. Objective of financial reporting. Framework. concepts 4. Quiz
3. Qualitative Characteristics. 2. State the objective of financial reporting. 3. Classroom Q&A
4. The elements of financial 3. Identify the primary users of financial
statements. statements.
4.Explain briefly the qualitative
characteristics of useful information and
how they are applied in financial
reporting.
5.Define the elements of financial
statements and state their recognition
To provide students PAS 1 criteria.
P R E S E N T A T I ON OF 1. Lecture/PowerPoint 1.5 hrs. 1. Seat works
The learners are expected to be able to:
with knowledge of FIN ANCIAL STATEMENTS 1. Enumerate and describe the general presentation 2. Recitation
the scope, 1. Complete set of financial features of financial statement 2. Application of 3. Assignments
applicability, and statements presentation. concepts 4. Quiz
principles of PAS 1. 2. General features 2. Enumerate and describe the components 3. Classroom Q&A
3. Statement of financial position of a complete set of financial statements.
4. Statement of profit or loss and 3. State the acceptable methods of
other comprehensive income presenting items of income and expenses.
5. Statement of changes in equity 4. Differentiate between the statement of

Acctg 13 –  CONCEPTUAL FRAMEWORK AND ACCOUNTING

 Page 3 of 11 
6. Notes profit or loss and other comprehensive
income and the statement of changes
in equity.
5. State
otherthe relationship
components ofof
a the notes with
complete set ofthe
financial statements.
To provide students PAS 2 INVENTORIES The learners are expected to be able to: 1. Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of 1. Measurement 1. Define inventories. presentation 2. Recitation
the scope, 2. Cost formulas 2. Measure inventories and apply the cost 2. Application of 3. Assignments
applicability, and 3. Net realizable value formulas. concepts 4. Quiz
principles of PAS 2. 4. Recognition as an expense  3. State the accounting for inventory write- 3. Classroom Q&A
down and the reversal thereof.

To provide students
PAS 7  S TA TE ME NT OF CAS H The learners are expected to be able to: 1.Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of
FLOWS 1. Describe the statement of cash flows. presentation 2.Recitation
the scope,
applicability, and 1. Classification of cash flows 2.Differentiate between the following: (1) 2.Application of 3.Assignments
2. Presentation Operating activities, (2) Investing concepts 4. Quiz
principles of PAS 7. activities, 3.Classroom Q&A
and (3) Financing activities.
3.3. State the classifications of the following
in a statement of cash flows: (a)
dividends received, (b) dividends paid,
To provide students (c) interest paid and (d) interest
PAS 8  ACCO UNTING PO LI CIE S , 1.Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of received.
CHANGES IN ACCOUNTING ESTIMATES presentation 2. Recitation
the scope, The learners are expected to be able to:
AND ERR ORS 2.Application of 3. Assignments
applicability, and 1.Define the following and give examples:
1. Accounting policies concepts 4. Quiz
principles of PAS 8. (1) Change in accounting policy, (2)
2. Changes in accounting 3.Classroom Q&A
Change in accounting estimate, and
estimates 3. Errors  (3) Error.
2.Differentiate between the accounting
treatments of the following: change in
accounting policy, change in
To provide students accounting estimate, and correction of 1.Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of PAS 10 E V E N T S A F T E R THE prior period error. presentation 2.Recitation
the scope, R E P OR T IN G PER IOD The learners are expected to be able to: 2.Application of 3.Assignments
applicability, and 1. Adjusting events 1. Define events after the reporting period. concepts 4. Quiz
principles of PAS 2. Non-adjusting events  2. State the accounting requirements for 3.Classroom Q&A
10. events after the reporting period.
To provide students PAS 12 INCOME TAXES The learners are expected to be able to: 1. Lecture/PowerPoint 1.5 hrs. 1. Seat works
 Page 4 of 11 
with knowledge of 1. Accounting profit and Taxable 1. Understand the scope and the presentation 2. Recitation
the scope, profit fundamental principle of PAS 12. 2. Application of 3. Assignments
applicability, and 2. Deferred taxes 2. Interpret the terminology used in the concepts 4. Quiz
principles of PAS 3. Current taxes  accounting for current and measurement
deferred 3.Classroom Q&A
12. taxes. 3. State the recognition,
and
presentation of current and deferred
PAS 16 PROPERTY, PLANT AND taxes. 1.Lecture/PowerPoint 1.5 hrs. 1. Seat works
To provide students EQUIPMENT presentation 2.Recitation
with knowledge of The learners are expected to be able
1.Recognition 2. 2.Application of 3.Assignments
the scope, to: 1. State the recognition criteria,
Measurement 3. concepts 4. Quiz
applicability, and initial
Derecognition measurement, and subsequent 3.Classroom Q&A
principles of PAS
16. measurement of PPE.
2.2. Apply the principles of PAS 16 in basic
computations of a PPE’s cost,
depreciation, carrying amount, and
revaluation surplus as well as the gain or
loss on its disposal.
PRELIM EXAMINATION  1.5 hrs.
Sub-total hrs. 13.5 hrs.

MIDTERM COVERAGE 13.5 hrs.

To provide students
PAS 19 EMPLOYEE B ENEFITS The learners are expected to be able 1. Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of
1. Short-term employee benefits to: 1. Differentiate between the four presentation 2. Recitation
the scope, 2. Post-employment benefits classifications of employee benefits under 2. Application of 3. Assignments
applicability, and 3. Defined contribution plans PAS 19. concepts 4. Quiz
principles of PAS 4. Defined benefit plans 2.State the timing of the recognition of 3.Classroom Q&A
19.
3.DeeDmiffpelroeyneteia bte
bnetfwitse.en a defined contribution
plan and a defined benefit plan.
4.4. State the accounting procedures for
defined benefit plans.
PAS 20  ACCO UNTING FO R 1.Lecture/PowerPoint 1 hr. 1. Seat works
The learners are expected to be able to:
To provide students GOVERNMENT GRANTS AND presentation 2. Recitation
1.Explain the recognition and measurement
with knowledge of DISCLOSURE OF GOVERNMENT 2.Application of 3.Assignments
of government grants.
the scope,  AS S IS TA NC E concepts 4. Quiz
2.Explain the presentation of government
applicability, and
principles of PAS 20. 1. Accounting for government grants grants in the financial statements. 3. Classroom Q&A
To provide students PAS 21 T H E E F F E C T S OF The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
 applicability, and principles of PAS expected to be able to:
29. 1. State the
applicability of PAS
with knowledge of CHANGES IN FOREIGN EXCHANGE RATES 1.Differentiate 26.
the scope, 1.Functional currency between the 2. Describe the
applicability, and 2.Foreign currency transactions two ways of accounting and
3.Translation of financial statements conducting reporting
principles of PAS
4.Foreign operation foreign requirements of
21.
activities. PAS 26.
2.State the initial
PAS 23 BORR OWING COSTS and subsequent
The learners are
1. Capitalization of borrowing costs 2. measure expected to be able
To provide students Specific borrowing ments of
foreign to: 1. Describe the
with knowledge of 3. General borrowing currency
transactio applicability of PAS
the scope, ns.
27.
applicability, and PAS 24 RELATED PARTY DISCLOSURES   3.3. Describe the
2. Describe the
principles of PAS procedures in
1. Related parties 2. measurement bases
23. To provide Disclosure translating
allowed under PAS
students with financial
27.
knowledge of PAS 26  AC COUNTI NG AND REPORTING BY statements into
a presentation
the scope, RETIREMENT BENEFIT PLANS   The learners are
applicability, and currency.
1. Defined contribution plans 2. expected to be able to:
principles of PAS The learners are
Defined benefit plans 1. Define an
24. To provide expected to be able
PAS 27  S E PA R AT E FI NA NC IA L investment in
to:
students with  S TA TE MENTS   associate.
1. State the core
knowledge of the 1. Preparation of separate financial 2. Describe the
principle under
scope, statements accounting
PAS 23. 2.
applicability, and requirements for
Compute for
principles of PAS PAS 28 INVESTMENTS IN investments in
borrowing costs
26. To provide   AS SOC IA TE S AN D J OIN T associates and
that are
students with VENT URES   joint ventures.
eligible for
knowledge of the 1. Investment in associate 2. The learners are
capitalization.
scope, Equity method expected to be able to:
applicability, and PAS 29 FINANCIAL REPORTING IN 1. State the core
The learners are
principles of PAS HYPERINFLATIONARY ECONOMIES principle under PAS
expected to be able
27. To provide 29. 2. Describe the
  to:
students with 1.Core principle restatement
1. Enumerate
knowledge of the procedures
2.Restatement of financial examples of
scope, related parties. under PAS 29.
applicability, and 2. Describe the
principles of PAS disclosure
28. To provide requirements
for related
students with parties.
knowledge of the
scope, The learners are
 Page 5 of 11 
presentation 2.Recitation
2. Application of 3.Assignments 4. Quiz
concepts
3. Classroom Q&A

1. Lecture/PowerPoint 1 hr. 1. Seat works

presentation 2. Recitation
2. Application of 3. Assignments
concepts 4. Quiz
3. Classroom Q&A
1. Lecture/PowerPoint 1 hr. 1. Seat works
presentation 2. Recitation
2. Application of 3. Assignments
concepts 4. Quiz
3. Classroom Q&A
1. Lecture/PowerPoint 1 hr. 1. Seat works
presentation 2. Recitation
2. Application of 3. Assignments
concepts 4. Quiz
3. Classroom Q&A
1. Lecture/PowerPoint 1 hr. 1. Seat works
presentation 2. Recitation
2. Application of 3. Assignments
concepts 4. Quiz
3. Classroom Q&A
1. Lecture/PowerPoint 1 hr. 1. Seat works
presentation 2. Recitation
2. Application of 3. Assignments
concepts 4. Quiz
3. Classroom Q&A
1. Lecture/PowerPoint 1 hr. 1. Seat works
presentation 2. Recitation
2. Application of 3. Assignments
concepts 4. Quiz
3. Classroom Q&A
 Page 6 of 11 
statements
To provide students PAS 32 FINANCIAL INSTRUMENTS: The learners are expected to be able to: 1.Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of PRESENTATION 1. State the definition of a financial presentation 2. Recitation
the scope, 1. Financial instruments instrument. 2.Application of 3. Assignments
applicability, and 2. Presentation 2. Give examples of financial assets and concepts 4. Quiz
principles of PAS 3. Compound financial instruments financial liabilities. 3.Classroom Q&A
32. 4. Treasury shares 3. Differentiate between a financial
5.Interest, dividends, losses and liability and an equity instrument.
gains 4. State the requirements for offsetting
6.Offsetting financial assets and financial
liabilities.
To provide students PAS 33 EARNI NG S PER SHARE  The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of   1. Explain how basic EPS is computed. presentation 2. Recitation
the scope, 1. Basic earnings per share 2. Explain how diluted EPS is computed. 2. Application of 3. Assignments
applicability, and 2. Diluted earnings per share concepts 4. Quiz
principles of PAS 3. Presentation 3. Classroom Q&A
33. PAS 34 IN TERIM FINANCIAL The learners are expected to be able 1.Lecture/PowerPoint 1 hr. 1. Seat works
To provide students REP ORT IN G   to: 1. Define an interim financial report. presentation 2. Recitation
with knowledge of 1.Interim financial statements 2.State the scope and applicability of PAS 2.Application of 3. Assignments
the scope, 2.Recognition and measurement 34. concepts 4. Quiz
applicability, and 3.Briefly describe the recognition and 3.Classroom Q&A
principles of PAS measurement principles applied in
34. interim financial reporting.
MIDTERM EXAMINATION  1.5 hrs.
Sub-total hrs. 13.5 hrs.

SEMI-FINALS COVERAGE 13.5 hrs.

To provide students PAS 36 IMPAIR MENT OF ASS ETS   The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of 1. Core principle 1. State the core principle of PAS 36. presentation 2. Recitation
the scope, 2.Identifying an asset that may be 2.Account for the impairment of individual 2.Application of 3. Assignments
applicability, and impaired assets and cash-generating units. concepts 4. Quiz
principles of PAS 3.Measuring recoverable amount 3.Account for the reversal of impairment. 3.Classroom Q&A
36. and impairment loss
4.Cash-generating units and
Goodwill
5.Reversal of impairment loss

To provide students PAS 37 PR OVISIONS, CONTIN GENT The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
 Page 7 of 11 
with knowledge of LIABILITIES AND CONTINGENT 1. State the recognition criteria for provisions. presentation 2. Recitation
the scope,  AS S E TS 2. Differentiate the accounting requirements 2. Application of 3. Assignments
applicability, and 1.Provisions for a provision, a contingent liability and a concepts 4. Quiz
principles of PAS 2.Contingent liabilities contingent asset. 3. Classroom Q&A
3. Contingent assets 3. Describe the measurement of a provision.
37.
4. Measurement
PAS 38 INTANGIBLE AS SETS   The learners are expected to be able 1. Lecture/PowerPoint 1 hr. 1. Seat works
To provide students 1. Recognition to: 1. Define an intangible asset. presentation 2. Recitation
with knowledge of 2. Measurement 2.State the initial measurement of intangible 2. Application of 3. Assignments
the scope, 3. Amortization assets that are (a) externally acquired concepts 4. Quiz
applicability, and and (b) internally generated. 3. Classroom Q&A
principles of PAS 3.State the subsequent measurement of
38. intangible assets that (a) have finite
useful life and (b) indefinite useful life.
PAS 40 INVESTMENT PROPERTY     The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
1. Measurement 1.Define an investment property. presentation 2. Recitation
To provide students 2. Transfers 2. State the initial and subsequent 2. Application of 3. Assignments
with knowledge of measurements of investment property. concepts 4. Quiz
the scope, 3. Apply the fair value model of accounting 3. Classroom Q&A
applicability, and for investment property.
principles of PAS PAS 41 AG R IC ULT UR E    The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
40. 1.Biological asset 1. Differentiate the following: biological presentation 2. Recitation
2.Agricultural produce assets, bearer plants, agricultural 2. Application of 3. Assignments
To provide students 3. Measurement produce and inventory. concepts 4. Quiz
with knowledge of 4. Government grants 2.State the initial and subsequent 3. Classroom Q&A
the scope, measurement of biological assets
applicability, and and agricultural produce.
principles of PAS 3.State the accounting for government
41. grants that are within the scope of
PAS 41.
PFRS 1 FIRS T-TIME ADOPTION OF The learners are expected to be able to: 1.Lecture/PowerPoint 1 hr. 1. Seat works 2.
PHILIPPINE FINANCIAL 1.Describe who a “first-time adopter” is and presentation Recitation
R E P OR T IN G ST AN D AR D S   what the “first PFRS financial 2.Application of 3. Assignments 4. Quiz
1. First PFRS financial statements statements” are. concepts
To provide students 2. Recognition and Measurement 2.Describe the general requirements of 3.Classroom Q&A
with knowledge of 3. Retrospective application PFRS 1.
the scope, 4. Presentation and disclosure
applicability, and
principles of PFRS
1.
 Page 8 of 11 
To provide students PFRS 2 S HA R E-B AS E D P AYME NT    The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of 1. Equity-settled share-based 1. Define a share-based payment presentation 2. Recitation
the scope, payment transactions transaction. 2. Application of 3. Assignments
applicability, and concepts
principles of PFRS 2.Cash-settled share-based 2.State the measurement basis for share- 4.Quiz
payment transactions based payment transactions with (a) 3. Classroom Q&A
2. non-
3.Choice between equity-settled and
employees and (b) employees.
cash-settled
3.Compute for the salaries expense on
share-based compensation plans.
4.State the accounting for share-based
To provide students transactions with cash alternatives.
PFRS 3 BUSINESS COMBINATIONS 1.Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of The learners are expected to be able
  presentation 2. Recitation
the scope, to: 1. Define a business combination.
1.Accounting for business 2.Application of 3. Assignments
applicability, and 2.Explain briefly the accounting
combination concepts 4. Quiz
principles of PFRS requirements for a business
2.Recognizing and measuring 3.Classroom Q&A
3. combination.
goodwill 3.Make basic computations of go dwill.
To provide students
with knowledge of PFRS 5 NON- CURRENT ASSETS HELD The learners are expected to be able to: 1.Lecture/PowerPoint 1 hr.  1. Seat works
the scope, FOR SALE AND DISCONTINUED OPE 1. Describe the criteria for held for sale presentation 2. Recitation
applicability, and RATIONS   classification. 2.Application of 3. Assignments
principles of PFRS 1. Classification as held for sale 2.State the initial and subsequent concepts 4. Quiz
5. 2. Measurement measurement of held for sale 3.Classroom Q&A
3. Discontinued operations assets.
4. Presentation 3.State the presentation requirements of a
discontinued operation.

To provide students
PFRS 6 EXPLORATION FOR AND The learners are expected to be able to: 1.Lecture/PowerPoint 1 hr.  1. Seat works
with knowledge of EVALUATION OF MINERAL 2. Recitation
1. Explain the accounting for exploration and presentation
the scope, RESOURCES   evaluation expenditures. 2.Application of 3. Assignments
applicability, and
1.Exemption from hierarchy of concepts 4. Quiz
principles of PFRS
reporting standards 3.Classroom Q&A
6.
2.Measurement

To provide students
PFRS 7 FINANCIAL INSTRUMENTS: The learners are expected to be able 1.Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of
DISCLOSURES to: 1. State the two main categories of presentation 2. Recitation
the scope,
1.Significance of financial disclosures under PFRS 7. 2.Application of 3. Assignments
applicability, and
instruments 2. State the types of risks required by PFRS concepts 4. Quiz
principles of PFRS
2.Nature and extent of risks 7 to be disclosed. 3.Classroom Q&A
7.
 Page 9 of 11 
To provide students PFRS 8 OPERATING SEGMENTS The learners are expected to be able to: 1. Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of   1. Define an operating segment. presentation 2. Recitation
the scope, 1.Core principle 2. Describe the “management approach” 2. Application of 3. Assignments
2.Operating segments to concepts
applicability, and 4. Quiz
principles of PFRS 3.Management approach identifying reportable segments. 3.Classroom Q&A
3.State the quantitative thresholds in
8. 4. Quantitative thresholds identifying reportable segments.

SEMI-FINALS EXAMINATION  1.5 hrs.

Sub-total hrs. 13.5 hrs.

FINAL COVERAGE 13.5 hrs.

To provide students PFRS 9 FINANCIAL INSTR UMENTS   The learners are expected to be able to: 1. Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of 1. Initial recognition 1. State the classifications of financial assets presentation 2. Recitation
the scope, 2. Classification and their initial and subsequent 2. Application of 3. Assignments
applicability, and 3. Measurement measurements. concepts 4. Quiz
principles of PFRS 4. Reclassification 2. State the classifications of financial 3. Classroom Q&A
9. 5. Impairment liabilities and their initial and subsequent
6. Derecognition measurements.

To provide students PFRS 10 CONSOLIDATED The learners are expected to be able to: 1. Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of FIN ANCIAL STATEMENTS 1. State the elements of control. presentation 2. Recitation
the scope, 1. Control 2. Describe the consolidation procedures. 2. Application of 3. Assignments
applicability, and 2. Accounting requirements concepts 4. Quiz
principles of PFRS 3. Preparation of consolidated 3. Classroom Q&A

10.
financial statements
To provide students
PFRS 11 J OIN T AR R ANG E ME NTS   The learners are expected to be able to: 1.Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of presentation 2. Recitation
1. Joint arrangement 1.Define a joint arrangement and state its
the scope,
2. Joint operations characteristics. 2.Application of 3.Assignments
applicability, and concepts 4. Quiz
3. Joint ventures 2.Differentiate between a joint operation and
principles of PFRS
a joint venture. 3.Classroom Q&A
11.
To provide students
PFRS 12 D IS C LO S U R E OF The learners are expected to be able 1.Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of INTERES TS IN OTHER ENTITIES   to: 1. Describe the objective of PFRS presentation 2.Recitation
the scope,
1. Summary of minimum disclosures 12. 2.Application of 3.Assignments
applicability, and
2. State the types of investments that are concepts 4. Quiz
within the scope of PFRS 12.
 Page 10 of 11 
principles of PFRS 3. Classroom Q&A
12.
To provide students PFRS 13 FAIR VALUE The learners are expected to be able 1.Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of MEASUREMENT to: 1. Define fair value. presentation 2. Recitation
the scope, 1. Fair value  2.State the principles used in measuring fair 2. Application of 3.Assignments
applicability, and 2. Valuation value. concepts 4.Quiz
principles of PFRS techniques 3. Fair value 3. Classroom Q&A
13. hierarchy 
To provide students The learners are expected to be able to: 1.Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of PFRS 14 REGULATORY 1. Describe the applicability of PFRS 14. presentation 2.Recitation
the scope, DEFERRAL ACCOUNTS 2.Application of 3.Assignments
applicability, and 1.Scope concepts 4. Quiz
principles of PFRS 2.Summary of principles 3.Classroom Q&A
14.
To provide students The learners are expected to be able to: 1.Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of PFRS 15REVENUE FROM 1.State the five steps in the recognition of presentation 2.Recitation
the scope, CONTRACTS WIT H CUSTOMERS revenue. 2.Application of 3.Assignments
applicability, and   2.Describe how performance obligations are concepts 4. Quiz
principles of PFRS 1. The five steps in identified in a contract. 3.Classroom Q&A
15. revenue recognition 3.Describe how the transaction price is
2. Contract allocated to the performance
costs 3. obligations.
Presentation  4.State the timing of revenue recognition
and its measurement.
5.State the presentation of contracts with
customers in the statement of
To provide students financial position. 1.Lecture/PowerPoint 1.5 hrs. 1. Seat works
with knowledge of The learners are expected to be able presentation 2. Recitation
the scope, PFRS 16 LEASES   to: 1. Identify a lease. 2.Application of 3. Assignments
applicability, and 1.Identifying a lease 2.Describe the general recognition and concepts 4. Quiz
principles of PFRS 2.Accounting for leases by lessee recognition exemption relating to 3.Classroom Q&A
16. 3. Accounting for leases by lessor the accounting for leases by a
lessee.
3.State the lease classifications by a lessor.
4. State the indicators of a finance lease.
To provide students 5. Describe the accounting for finance leases 1.Lecture/PowerPoint 1 hr. 1. Seat works
with knowledge of and operating leases by a lessor. presentation 2. Recitation
the scope, PFRS 17 INSURANCE CONTRACTS The learners are expected to be able to: 2.Application of 3. Assignments
  1. State the scope and applicability of PFRS
1.Insurance contracts 17.
 Page 11 of 11 
applicability,and Recognition 2. Describe the level of aggregation and concepts 4. Quiz
principles of PFRS Measurement 4. Presentation measurement of insurance contracts. 3. Classroom Q&A
17. FINAL EXAMINATION 
1.5 hrs. 13.5 hrs. 54 HRS.
Sub-total hrs.
TOTAL HRS.

II. GRADING SYSTEM:

QUIZ 30%
 ATTENDANCE 10%
 ASSIGNMENTS 10%
PROJECTS 20%
TERM EXAMS 30%
TOTAL 100%

TEXTBOOK
Millan, Zeus Vernon B., Conceptual Framework and Accounting Standards (2018), Philippines: Bandolin Enterprise Philippines: Bandolin Enterprise

Prepared by: Noted by:  Approved by:

ANAS A. ALOYODAN, CPA ANAS A. ALOYODAN, CPA PROF. MILAGROS N. MAROHOMBSAR 

Lecturer  Asst. Dean VP- Academics/School Directress