Ateneo de Naga University

College of Business and Accountancy

Accountancy Department
S/Y 2021 - 2022
First Semester

COURSE INFORMATION SHEET

Course Code FMCC110

Course Title FMC Principles of Accounting
Credit 3

Rationale

This course aims to provide a basic understanding of the theories, concepts and
practices used in financial accounting. At the end of the semester the students are
expected to be able to analyze business transactions and produce journal entries to
prepare three financial statements: Income Statement, Changes in the Owner's /
Stockholders' Equity and Balance Sheet. The students are also expected to be able to
use information from the financial statements in making managerial decisions.

INSTITUTIONAL LEARNING OBJECTIVES

The Ateneo de Naga University Graduate is a person for others characterized by Christ-
centeredness, conscience, compassion, competence, and commitment to change.

1. CHRIST-CENTEREDNESS. The Atenean acknowledges the humanity and

divinity of Christ, and believes His Spirit as active in his/her life and in the
lives of others. Thus, the Atenean:

1. Respects the faith and the plurality of religions.

2. Values the Church’s teachings about faith, morals, and Christ’s redeeming
mission.
3. Lives out the gospel values and exercises Christian virtues.
4. Celebrate the Bicolano’s inherent faith in God and our devotion to the
Blessed Virgin Mary.
5. Affirms the glory of God in one’s self, and in all creation, and cares for life
and the natural environment.

2. CONSCIENCE. The Atenean lives a life of exemplary integrity by cultivating

a mature conscience that impresses on him/her the imperative to positively
transform the world. Thus, the Atenean:
 1. Predicates his/her decisions and actions on principles that promote human
dignity, and those that further the actualization of all humanity.
2. Cultivates foresight in the process of deciding and acting on ethical and moral
problems.
3. Explores, questions, and owns his/her faith in the context of competing value
systems.
4. Evaluates moral choices in the light of the mature conscience.
5. Practices the habit of reflection and contemplation.

3. COMPASSION. The Atenean grows in consciousness of his/her dignity and

personal purpose in engaging the world. Thus, the Atenean:

1. Values his/her dignity as a person and that of others.

2. Serves the needy and the marginalized.
3. Promotes family unity and fosters family service in the community.
4. Recognizes one’s strengths and inadequacies and seeks out
complementariness from and with others
5. Reflects on one’s experiences/actions towards becoming an agent of
change.

4. COMPETENCE. The Atenean actuates the gift of education as an instrument

to comprehend, judge, and respond to urgent and universal human
dilemmas. Thus, the Atenean:

1. Professes exceptional knowledge and expertise in his/her field of

specialization in the local and global community
2. Applies interdisciplinary approaches, innovative methods, and appropriate
technologies in analyzing, solving problems, and in making decisions in a
moral and ethical manner.
3. Thinks critically, creatively, and reflectively
4. Expresses himself/herself proficiently in both oral and written
communication.
5. Practices the value of further learning and professional development,
adapting to demands of the changing times.

5. COMMITMENT TO CHANGE. The Atenean participates actively in the life

of the society and the global community. Thus, the Atenean:

1. Acts on the world in life, love, freedom, responsibility, and community to

build a good and just society and thereby bring into being the Regnum
Dei.
2. Understands and responds proactively against structural and cultural roots
of injustice in social institutions.
 3. Resolves the moral ambiguities and inconsistencies in values promoted by
local and global cultures.
4. Advocates social changes that assist victims of injustice in gaining their
rights and regaining their dignity.
5. Demonstrates positive disposition, maturity, and courage, rooted in
Ignatian values, in the face of adversity

Program Learning Outcomes

1. Describe, explain, and integrate fundamental concepts underlying accounting,

finance, management, marketing, and economics
2. Use information to support business processes and practices, such as problem
analysis and decision making
3. Apply quantitative skills to help analyze and solve business problems and to take
advantage of business opportunities
4. Apply oral and written communication skills
5. Describe and explain the ethical and social responsibilities of accountants in
ensuring the integrity of financial information
6. Develop an understanding of internal control issues and the effects of the
regulatory environment on financial reporting
7. Apply knowledge of generally accepted accounting principles (GAAP) and
managerial accounting theories to business organizations, state and local
governments, and nonprofit organizations
8. Apply knowledge of tax laws and procedures to individuals and businesses

Course Learning Outcomes

1. Use debit and credit accounting to record and adjust basic business transactions.
2. Synthesize financial and other accounting information by preparing financial
statements that fairly reflect economic events.
3. Use basic financial statement ratio analysis to evaluate financial performance.
4. Demonstrate knowledge of each step in the accounting cycle.
5. Know and apply organizational internal control components.
6. Use Generally Accepted Accounting Principles (GAAP) to record common business
transactions involving merchandise inventory, cash, and accounts receivable
transactions.
Grading System

Course Description Grade

Requirements Breakdown
Class Participation Class attendance: 5% 40%
Recitations: 5%
Seatworks: 10%
Quizzes: 10%
Practice Set: 10%
Prelim Examination Written Examination 10%
Midterm Examination Written Examination 20%
Pre-final Examination Written Examination 10%
Final Examination Written Examination 20%

Course Bibliography

Basic Accounting (Made Easy) by Win Ballada

COURSE OUTLINE

Timelin Subject Matter Methodology Teaching Evaluation

e Aids Tools
WEEK 1 Accounting and Its Lecture Whiteboard Recitation
Environment Group PowerPoint Quiz
Discussion Textbook
WEEK 2 About International Lecture Whiteboard Recitation
Accounting Group PowerPoint Quiz
Standards, New IFRS Discussion Textbook
Framework
WEEK 3 Accounting Equation Lecture Whiteboard Recitation
and the Double-Entry Group PowerPoint Seatwork
System Discussion Excel Quiz
Problem- Textbook
solving
WEEK 4 Prelim Examination
WEEK 5 Accounting for a Lecture Whiteboard Recitation
Service Business Group PowerPoint Seatwork
Discussion Excel Assignment
Problem- Textbook Quiz
solving
WEEK 6 Adjusting the Lecture Whiteboard Recitation
Accounts Group PowerPoint Seatwork
Discussion Excel Assignment
Problem- Textbook Quiz
 solving
WEEK 7 Worksheet and Lecture Whiteboard Recitation
Financial Statements Group PowerPoint Seatwork
Discussion Excel Assignment
Problem- Textbook Practice Set
solving Quiz
WEEK 8 Midterm Examination
WEEK 9 Accounting for a Lecture Whiteboard Recitation
Merchandising Group PowerPoint Seatwork
Business Discussion Excel Assignment
Problem- Textbook Practice Set
solving Quiz
WEEK 10 Completing the Cycle Lecture Whiteboard Recitation
for a Merchandising Group PowerPoint Seatwork
Business Discussion Excel Assignment
Problem- Textbook Practice Set
solving Quiz
WEEK 11 Special and Lecture Whiteboard Recitation
Combination Group PowerPoint Seatwork
Journals, and Discussion Excel Assignment
Voucher System Problem- Textbook Practice Set
solving Quiz
WEEK 12 Prefinal Examination
WEEK 13 Other Topics – Lecture Whiteboard Recitation
Manufacturing Group PowerPoint Seatwork
Operations Discussion Excel Assignment
Problem- Textbook Quiz
solving
WEEK 14 Other Topics – Lecture Whiteboard Recitation
Internal Control and Group PowerPoint Seatwork
Cash Discussion Excel Assignment
Problem- Textbook Quiz
solving
WEEK 15 Other Topics – Lecture Whiteboard Recitation
Accounts and Note Group PowerPoint Seatwork
Receivable, Discussion Excel Assignment
Inventory, PPE Problem- Textbook Quiz
solving
WEEK 16 Final Examination

MODIFICATIONS (BLENDED SET-UP)

Due to the challenges brought by the COVID-19 crisis in the country, the following
policies will be observed:

Synchronous Sessions: Instructor will provide reading materials/handouts related to

the topic prior to the session for advance reading. During the session, discussion will be
coursed through google meet where everyone is required to turn on their cameras and
highly encouraged to participate, raise and answer questions. A few minutes before the
end of the session, a seatwork will be posted in the Classroom to assess the students’
learnings during the session.

Asynchronous Sessions: An assessment will be coursed through the online platform

every after discussion.

Online Course Policies

1. A perfect attendance shall merit substantial consideration in the final evaluation

of the student’s performance and fitness to pass the course. On the other hand,
reaching the maximum number of unjustified absences based on the updated
student handbook shall be dealt with according to school policies.
2. Honesty is strictly enjoined.
3. Considering the current status of the country, the mode of course instruction
shall be online, using both synchronous (default) and asynchronous (upon
announcement only) learning formats. All students are expected to be in a
decent and proper attire (not necessarily the prescribed Ateneo uniform).
During synchronous classes, all students are required to turn on their cameras,
otherwise, students with no camera’s on shall be marked absent.
4. Students are required to: (1) use their full name (Surname, First Name) as
indicated in the class list; and (2) use a decent profile picture in their google
accounts that clearly shows their face for easy identification.
5. Students appearing remotely must be at the virtual or waiting lobby at least
fifteen (15) minutes before the scheduled online class.
6. The presence of the student for the whole duration of the online classes is a
must, otherwise, he or she will be marked absent if not seen on the screen at
any moment without permission or any valid reason.
7. Students are encouraged to use earphones or headsets during online classes,
unless the remote locations from which they participate have employed means or
digital solutions with noise cancellation features in place.
8. To avoid issues on confidentiality rule under the Data Privacy Act and Intellectual
Property Rights Protection, the recording in any form of all online classes is
absolutely prohibited.
9. Should you have any other concerns, course them through the class beadle, who
shall relay them to me in a timely manner.
Contact and Other Information

Christian Emil B. Reyes, CPA

Email Address: christianemilreyes@gmail.com
Consultation Hours: By appointment

Professional Background:
Faculty Member, Ateneo de Naga University; RTR Finance and Admin Analyst,
Corporate Accounting, IBM Business Services Inc., Naga City; Accountant III,
Accounting Division, Finance Services Department, Commission on Elections,
Intramuros, Manila; Audit Associate, SGV & Co., Ayala Avenue, Makati City.