COURSE SYLLABUS

SCHOOL OF ACCOUNTANCY

A globally competitive institution, faithful to the teachings and tradition of the Catholic Church working towards the development of the person following
VISION
the examples of St. Arnold Janssen and St. Joseph Freinademetz.
MISSION To develop and enhance the capabilities of the person to become Witness to the Word and responsive to the demands of the society.
 GLOBAL COMPETENCE
 CULTURAL PRESERVATION
GOALS
 ACADEMIC EXCELLENCE
 SVD SPIRITUALITY
CORE VALUES Integrity, Social Responsibility, Excellence, Evangelization
School Year and Semester 2020-2021 Second Semester
Faculty Leneilyn M. Poblete, CPA
leneilynpoblete@dwcc.edu.ph
Contact no.: 09271958516
Course Title AC_Auditing and Assurance: Specialized Industries
Course Code AC_AudAssur_SPI
Course Link http://lms.dwcc.edu.ph/College/
Classes for this school year will be conducted with minimal or no face-to-face interaction between the instructor and the students. The meetings will be
Couse Schedule Map done through online platforms like Zoom. Discussions are also be done online unless face-to face interaction is necessary and permitted to do so.
Practical exercises, quizzes and other instructional materials can be access online on school website.
This course deals with specialized accounting problems likely to be encountered by accountants. The study of the various topics in this course is based
upon fundamental valuation accounting theory as applied to special income and expense recognition methods and expanded business operations. This
COURSE DESCRIPTION
course includes accounting for foreign activities; derivatives accounting for insurance and other special issues such as build-operate transfer (BOT) and
similar schemes.
Credit Units 3 units
Course Pre-Requisites Auditing and Assurance: Concepts and Applications 1
Course Learning Outcomes
1. Manifest knowledge in the preparation of financial
statements and supporting schedules for special types of
business organization in accordance with the relevant
standards.
2. Manifest knowledge in the preparation of financial
statements for partnerships in accordance with Philippine
Financial Reporting Standards and accounting for
partnership capital following the relevant provisions of Civil
Code of the Philippines.
Learning Enrichment
Link to Program Outcome
1. Resolve business issues and problems, with a global and strategic perspective using knowledge and technical
proficiency in the areas of financial accounting and reporting, cost accounting and management accounting and
control, taxation and accounting information system.
2. Employ technology as a business tool in capturing financial and non-financial information, generating reports and
making decision.
1. Resolve business issues and problems, with a global and strategic perspective using knowledge and technical
proficiency in the areas of financial accounting and reporting, cost accounting and management accounting and
control, taxation and accounting information system.
2. Employ technology as a business tool in capturing financial and non-financial information, generating reports and
making decision.

Course Learning Mode of Instruction/ Mode of

Week Topic/Content Delivery T-L Activities Assessment
Outcomes Assessment
1st General Orientation Interactive discussion, thru Read the syllabus at Recitation Non-graded
Discussion of VMG and Core values Zoom http://lms.dwcc.edu.ph/Col assessment
Discussion of syllabus Online chat thru Messenger lege/ Essay writing
Discussion of classroom and department policies, Sharing of personal traits
course requirements and grading system and values
1st - 2nd Manifest knowledge Module 1 – The Effects of Changes in Foreign Interactive discussion, via Read the PAS 21 and 29 Recitation Formative
in the preparation of Exchange Rates Zoom at www.iasplus.com
financial statements 1.1 Two ways of conducting foreign activities Online/Printed module Self-paced quiz Summative
and supporting 1.2 Functional currency Online chat thru Messenger Concept map of PAS 21
schedules for special 1.3 Foreign currency transactions Online forum thru Discussion
1.4 Foreign operation
types of business Board Online games “Forex
1.5 Translation procedures under hyperinflationary
organization in Game”
economy
3rd – 4th accordance with the Module 2 – Derivatives and Hedging transactions Interactive discussion, via Read the PFRS 7, 9 and Self-paced quiz Formative
relevant standards. 2.1 Purpose of derivatives Zoom PAS 32, 39 at
2.2 Common types of derivatives Online/Printed module www.ifrs.org and
2.3 Measurement of derivatives Online chat thru Messenger www.iasplus.com
 2.4 Hedge accounting Online forum thru Discussion
Board Online/Offline problem
solving
PRELIMINARY EXAMINATION
5th- 6th Manifest knowledge Module 3 – Accounting for Forward and Future Interactive discussion, via Online/Offline problem Recitation Formative
in the preparation of Contract Zoom solving
financial statements 3.1 Forward and future contracts Online/Printed module Self-paced quiz Summative
and supporting
3.2 Fair value hedge and cashflow hedge Online chat thru Messenger Research whether
schedules for special
types of business 3.3 Firm commitment and forecasted transaction Online forum thru Discussion Indigenous people have
organization in 3.4 Subsequent accounting Board entered into any
accordance with the derivative contracts and
relevant standards. on how they account
these transactions
7th – 8th Module 4 – Accounting for Option Contract Interactive discussion, via Online/Offline problem Online quizzes Summative
4.1 Option contract Zoom solving
4.2 Fair value hedge Online/Printed module
4.3 Cash flow hedge Online chat thru Messenger
Online forum thru Discussion
Board
9th – 10th Module 5 – Accounting for Net Investment Interactive discussion, via Online/Offline problem Recitation Formative
Hedges Zoom solving
5.1 Net investment hedges Online/Printed module Online quizzes Summative
5.2 Embedded derivatives Online chat thru Messenger
Online forum thru Discussion
Board
MIDTERM EXAMINATION
11th – 12th Manifest knowledge Module 6 – Foreign Currency Translation Interactive discussion, via Online/Offline problem Recitation Formative
in the preparation of 6.1 Foreign operations Zoom solving
financial statements 6.2 Net investment in a foreign operation Online/Printed module Online quizzes Summative
and supporting
6.3 Disposal or partial disposal of a foreign operation Online chat thru Messenger
schedules for special
6.4 Translation procedures
 types of business Online forum thru Discussion
organization in Board
13th – 14th accordance with the Module 7 – Financial Reporting in Interactive discussion, via Online/Offline problem Self-paced Quiz Formative
relevant standards.
Hyperinflationary Economies Zoom solving
7.1 Price level and purchasing power Online/Printed module
7.2 Hyperinflation Online chat thru Messenger
7.3 Restatement of financial statements Online forum thru Discussion Comprehensive problem
7.4 Historical cost to constant peso solving
Board
7.5 Current cost accounting
PRE-FINAL EXAMINATION
15th Manifest knowledge Module 8 – Partnership Nature and Formation Interactive discussion, via Online/Offline problem Socrative Quiz Confirmative
in the preparation of 8.1 Differentiate from single proprietorship and Zoom solving
financial statements corporation Online/Printed module
for partnerships in 8.2 Concepts, principles, rules, practices and Online chat thru Messenger
procedures
accordance with Online forum thru Discussion
8.3 Initial capital contribution
Philippine Financial Board
15th - 16th Reporting Standards Module 9 – Partnership Operation and Interactive discussion, via Online/Offline problem Online quiz Summative
and accounting for Dissolution Zoom solving
partnership capital 9.1 Distribution of profits and losses Online/Printed module Preparation of Statement
following the relevant 9.2 Admission of a new partner Online chat thru Messenger of changes in partner’s
provisions of Civil 9.3 Withdrawal, retirement or death of a partner Online forum thru Discussion capital
Code of the 9.4 Incorporation of a partnership
Board
17th – 18th Philippines. Module 10 – Liquidation of a Partnership Interactive discussion, via Online/Offline problem Online quiz Summative
10.1 Lump-sum method Zoom solving
10.2 Installment method Online/Printed module
Online chat thru Messenger Comprehensive problem Self-paced Quiz
Online forum thru Discussion solving
Board
FINAL EXAMINATION
Course References:
• Advanced Accounting Vol. 1 (2017). Pedro P. Guerrero, et al. Manila: GIC Enterprises & Co., Inc
• Advanced Financial Accounting and Reporting, Part 1 (2018). Milan, Z.V. Baguio City: Bandolin Enterprise
• Accounting for Business Combination (2018). Milan, Z.V. Baguio City: Bandolin Enterprise
• Advanced Accounting 1(2017). Dayag, Antonio Jr. Manila: Conanan Educational Supply

ADDITIONAL SUPPLEMENTARY MATERIALS

• IFRS Compilations and PFRS
• www.ifrs.org
• www.iasplus.com

The following are the specific applications the students should download and install and which will be used for the entire semester:
• Zoom, for online discussion
• Messenger
• Socrative
• Kahoot!
Course Requirements: Attainment of a grade of at least 82%
Flexible Learning Course Policies:
A. ATTENDANCE
Class attendance is expected of every student even under flexible learning. Attendance will be checked in synchronous (online) delivery. For offline delivery, a handwritten summary of all the
lessons or answer to guide questions shall constitute attendance and class participation.
B. EXAMINATIONS
All quizzes and major examinations shall be conducted online or in person at the campus. Students who have no online access should make arrangements with their teachers on the conduct
of the examination.
C. SUBMISSION OF REQUIREMENTS
It is the responsibility of the students to submit all course requirements to earn credit for his course. Course requirements maybe submitted online (through email or the school’s LMS), at a
drop-off point (in the school) or through a courier. Timely submission of requirements is necessary.
D. ACADEMIC DISHONESTY & PLAGIARISM
Academic dishonesty and plagiarism will not be tolerated and shall be penalized in accordance with the policy and procedures of the school.
E. RESPONSIBILITY OF THE STUDENTS
It is the responsibility of the student to:
1. Log-in to the school’s LMS regularly to review messages from teacher(s) and pending assignments.
2. Get modules, assignments and other course requirements at designated pick-up points.
3. Communicate to teacher questions and problems they may have under flexible learning.
4. Complete and submit assignments and other course requirements on the time and place agreed upon with their teachers.
F. RESPONSIBILITY OF THE FACULTY AND THE SCHOOL
It is the responsibility of the faculty and the school to:
3. Implement mechanisms for students to receive/access printed or digital course packages/instructional materials through designated pick up points or through digital platforms.
4. Establish means for student engagement/ communication which may include Short Message Service (SMS), electronic mail (email), chat, instant messaging, and other means whichever is
convenient, appropriate, and available in order to ensure personalized, effective, efficient, and timely mentoring and feedback mechanisms.
Preliminary Examination 10%
Mid-term Examination 10%
Pre-Final Examination 20%
Course Departmental Final Examination 20%
Grading Class Standing
System: Quizzes 10%
Attendance & Class Participation 10%
Portfolio 20% 40%
Total 100%
Students can consult the teacher thru the following:
Consultation
08:00 AM – 05:00 PM Monday to Friday
ASSESSMENT
COURSE OUTCOMES PERFORMANCE INDICATORS EVIDENCES OF PERFORMANCE PERFORMANCE STANDARD
1. Manifest knowledge in the preparation of financial Submit and present schedules and Following a set of rubrics, students are expected to 82% minimum compliance to all
statements and supporting schedules for special financial statements in compliance accomplish and/or present the following: course requirements
types of business organization in accordance with the with PFRS and other relevant Schedules and financial statements.
relevant standards.
standards; pass all examinations.
2. Manifest knowledge in the preparation of financial
statements for partnerships in accordance with
Philippine Financial Reporting Standards and
accounting for partnership capital following the
relevant provisions of Civil Code of the Philippines.

PREPARED BY: REVIEWED AND RECOMMENDED FOR APPROVAL BY: APPROVED BY:

LENEILYN M. POBLETE, CPA MYLA M. CUSTODIO, CPA MARY JANE R. BAUTISTA, CPA DR. ALELI C. DUGAN, CPA
Faculty Program Coordinator Dean, School of Accountancy/ Vice president, academic affairs