Vision: "Truth and Goodness in Man and for Mission: Produce, through responsive curriculum, morally

All others through Education" upright, committed and competent graduates capable of
meeting the growing human resources needs in the
professions, government, business, industry and home.

Tomas del Rosario College

Balanga City, Bataan

DEPARTMENT: Accountancy
Course Code: AE 13

Course Title: Financial Accounting and Reporting

I. Course Description:
This course provides an introduction to accounting, within the context of business and business decisions. Students obtain basic understanding of the principles and concepts
of accounting as well as their applicability and relevance in the national context and learn how to use various types of accounting information found in the financial statements
and annual reports. Emphasis is placed on understanding the reasons underlying basic accounting concepts and providing students with adequate background on the recording,
classification and summarization functions of accounting to enable them to appreciate the varied uses of accounting data.

II. Course Credits: 6 Units

III. Course General Objectives:

At the of this course, students are expected to:
1. Appreciate the need for the fair and reliable reporting of assets, liabilities, owner's equity, revenue and expenses, as they affect the economic decision of statement users.
2. Appreciate the significance of the accounting to his/her personal life.
3. Appreciate internal control system, business documents and forms, their designs/uses and relationships with accounting records and reports.
4. Understand the logic of double-entry bookkeeping, the nature and significance of each step in the accounting cycle.
5. Appreciate the nature, functions, scope and limitations of accounting, its various users and its relationship with other disciplines and its professional status.
6. Appreciate the role of accounting in business and be motivated to learn more about it.
7. Appreciate the values of honesty and objectivity in the accounting process.

IV. Course Content:

PRELIMINARY PERIOD
Assessment
Time Frame Topics Intended Learning Outcomes Teacher-Learner Activities Methods/Tasks
Lesson One Upon completion of this lesson, students
Weeks 1 & 2 Introduction to Accounting: should be able to: Lecture Recitation
(12 hours ) Definition of Accounting > Define Accounting Class Discussion Seatwork
Development of Accounting > Understand the nature, functions, and objectives Power Point Presentation Quiz
Functions of Accounting of accounting. Prelim Exam.
The Basic Financial Statements > Determine the scope and branches of accounting. Activity: Search the internet and look for the
Users of Accounting Information > Recognize the users of accounting information history and development of accounting.
Types of Business Activities and their information needs.
The Generally Accepted Accounting Principles (GAAP) > Identify the forms of business organization and
Elements of Financial Statements their activities.
> Describe the basic financial statements.
> Explain basic accounting concepts and principles.

Lesson Two Upon completion of this lesson, students

Weeks 3 & 4 Analyzing Business Transactions: should be able to: Lecture Assignment
(12 hours ) Definitions of Business Transactions > Analyse business transaction and its effects to Class Discussion Recitation
Source Documents the elements of financial statements. Power Point Presentation Seatwork
The Accounting Equation > Know the source documents used as basis for Quiz
Effects of Business Transactions on the Accounts in recording business transactions.
Terms of Increase/Decrease > Discuss the basic accounting equation.

Lesson Three Upon completion of this lesson, students

Weeks 5& 6 The Accounting Process of a Service Concern: should be able to: Lecture Assignment
(12 hours ) Double-entry Bookkeeping > Enumerate the steps in the accounting cycle. Class Discussion Recitation
Journalizing Business Transactions in the General > State the rules of debit and credit and the normal Power Point Presentation Seatwork
Journal balances of accounts. Problem Solving
Posting to the Ledger > Record business transactions under the double-
Determining Account Balances entry system.
Preparing a Trial Balance > Post transaction from the journal to the ledger.
Correcting Entries > Prepare correcting entries.

MID-TERM PERIOD
Lesson Four Upon completion of this lesson, students
Weeks 1 & 2 The Adjusting Process: should be able to: Lecture Assignment
(12 hours ) Cash versus the Accrual Basis of Accounting > Understand the different types of adjustments Class Discussion Recitation
The Accounting Period prepared at the end of each accounting period. Power Point Presentation Seatwork
The Need for Adjusting Entries > Prepare the adjusting entries and understand Problem Solving Quiz
 Types of Adjusting Entries fully well the importance of the adjusting entries Mid-term Exam.
Effects of Failure to Prepare Adjusting Entries on the company's financial statements.
> Compare the accrual and cash basis of accounting.
> Explain Revenue Recognition Principle, Period of
Time Principle, and the Matching Principle.
> Distinguish deferrals from accruals.
> Know the two methods of recording prepayments:
a) Asset Method
b) Expense Method

Lesson Five Upon completion of this lesson, students

Weeks 3 & 4 Completion of the Accounting Cycle for a Service should be able to: Lecture - demonstration Assignment
(12 hours ) Business: > Prepare a worksheet. Class Discussion Recitation
The Accounting Cycle > Prepare financial statements from the worksheet. Power Point Presentation Seatwork
Worksheet > Journalize and post adjusting and closing entries. Problem Solving
Preparing Financial Statements from the Worksheet > Prepare post-closing trial balance and reversing
Journalizing and Posting the Adjusting Entries entries.
Journalizing and Posting the Closing Entries
Post-closing Trial Balance

Lesson Six Upon completion of this lesson, students

Weeks 5& 6 Accounting for a Merchandising Business should be able to: Lecture Assignment
Income Statement of a Merchandising Concern > Distinguish service business from merchandising Power Point Presentation Seatwork
Purchases and Related Accounts business. Problem Solving Quiz
Sales and Related Accounts > Prepare journal entries relating to:
Income Statement Presentation a) Purchase of merchandise Activity: Search the internet and look for
Inventory System b) Sale of merchandise the legal requirements to register a
Trade Discount and Cash Discount > Distinguish trade discount from cash discount. Service Business and Merchandising
Accounting for Value-Added Tax (VAT) > Know the application of Perpetual inventory Business.
system and Periodic inventory system.
> Prepare an Income Statement for a merchandising
business.

FINAL PERIOD
Lesson Seven Upon completion of this lesson, students
Weeks 1,2,3 Completion of the Accounting Cycle for a Merchandising should be able to: Lecture Assignment
Business: > Know the methods of accounting for uncollectible Class Discussion Recitation
The Accounting Cycle receivables. Power Point Presentation Seatwork
 Worksheet Preparation for a Merchandising Business > Learn the additional adjusting entries prepared for Problem Solving Quiz
Preparing Financial Statements from the Worksheet merchandising business.
Journalizing and Posting the Adjusting Entries > Prepare financial statements for merchandising
Journalizing and Posting the Closing Entries companies.
Post-closing Trial Balance > Complete the accounting cycle for a merchandising
Reversing Entries firm.
Accounting for Uncollectible Accounts
1) The Allowance Method
2) The Direct Write-off Method

Lesson Eight Upon completion of this lesson, students

Weeks 4,5,6 The Special Journals: should be able to: Lecture - demonstration Assignment
Types of Special Jounals > Know the types of special journals. Class Discussion Recitation
1) Sales Journal > Learn how to record trasactions in the special Power Point Presentation Seatwork
2) Purchases Journal journal. Problem Solving Quiz
3) Cash Receipts Journal > Learn the advantages of using special journals. Final Exam.
4) Cash Disbursement Journal > Know how to post transactions from the special
Subsidiary Ledgers and Controlling Accounts journal to the general ledger and subsidiary ledger.
Schedule of Accounts Receivable > Prepare schedules of Accounts Reeivable and
Schedule of Accounts Payable Accounts Payable.
 V. Textbook and References:

1. Ballada,Win (2021 Basic Financial Accounting & Reporting DomDane Publishers & Made Easy Books
2. Baguino, Armando D. et al (2020) Principles of Accounting Allen Adrian Books Inc.

VI. COURSE REQUIREMENTS:

1. Quizzes
2 . Recitation
3. Assignments
4. Chapter Test / Long Exams
VII. GRADING SYSTEM:
Grades Are Computed As Follows:
Preliminary Average = ( C.S. x 2 ) + Preliminary Exam
3

Mid -Term Average = ( C.S. x 2 ) + Mid - Term Exam

Final Average = ( C.S. x 2 ) + Final Exam

3

Final Grade = Prelim Average + Mid-Term Average + Final Average

3
Class Standing Is The Sum Of The All Percentage Ratings In Quizzes, Recitation, Debates, Assignments, And Case Analysis

The following formula is used on grade transmutation: Raw Score x 50 + 50

Number of Items

Prepared by : Recommending Approval: Approved by :

JEFFERSON L. TRIGUERO, CPA, MBA JEFFERSON L. TRIGUERO, CPA, MBA MERCEDES G. SANCHEZ, Ed. D.
Instructor Dept. Chair - Accountancy Vice President for Academics, Student Affairs
and Extension Services