Bachelor of Science in Accountancy

Accountancy Department

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 Bachelor of Science in Accountancy
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The BSA program provides a foundation of professional knowledge, professional skills, and professional values,
ethics and attitudes that enable them to continue to learn and adapt to change throughout their professional lives.
These capabilities will enable professional accountants to identify problems, know where to find this knowledge and
know how to apply it in an ethical manner to achieve appropriate solutions. The balance of these elements may vary
but what is required is to develop the knowledge base and strong skills in order to produce competent professional
accountants with appropriate values, ethics and attitudes.

Courses:
Course Code: ACTFUN1
Course Description: FUNDAMENTALS OF ACCOUNTING with PRACTICE SET
This course provides an introduction to accounting, within the context of business and business decisions. Students
obtain basic understanding of the principle 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 financial statements and
annual reports. Emphasis is placed on understanding the reasons underlying basic accounting concepts and
providing students with an adequate background on the recording, classification, summarization and communicating
functions of accounting to enable them to appreciate the varied uses of accounting data.

Prerequisite: None
Units: 6

Course Code: FINACT1
Course Description: FINANCIAL ACCOUNTING & REPORTING, PART I
This course introduces the nature, functions, scope and limitations of the broad field of accounting theory. It deals
with the study of the theoretical accounting framework objectives of financial statements, accounting conventions,
and generally accepted accounting principles, standard setting process for accounting practice, national as well as
international principles relating to the preparation and presentation of financial statements, the conditions under
which they may be appropriately applied, their impact or effect on the financial statements; and the criticisms
commonly leveled against them. The course covers the detailed discussion, appreciation, and application of
accounting principles covering the assets financial and non-financial. Emphasis is given on the interpretation and
application of theories of accounting in relation to cash, temporary investments, receivables, inventories, and long-
term investments including financial statement presentation and disclosure requirements. The related internal
control, ethical issues, and management of cash, temporary investments, receivables, inventories, and long-term
investments are also covered.

Prerequisites: ACTFUN1 and ACTFUN2

Units: 6

Course Code: FINACT2
Course Description: FINANCIAL ACCOUNTING & REPORTING, PART II
This course is a continuation of Financial Accounting and Reporting, Part 1. It is designed to cover financial
accounting principles relative to recognition, measurement, valuation and financial statement presentation property,
plant & equipment, intangible assets, liabilities and shareholders’ equity including disclosure requirements. The
related internal control, ethical issues, and management of property, plant & equipment, intangible assets, liabilities
and owners’ equity are also covered. It will also cover the preparation of financial statements for external purposes
such as the statement of financial position, statement of comprehensive income and statement of changes in equity.
It also deals with contemporary issues such as leases and other current related items.

Prerequisite: FINACT1
Units: 6

Course Code: FINACT3
Course Description: FINANCIAL ACCOUNTING & REPORTING, PART III
This course is the culmination of Financial Accounting cluster. It deals with the preparation of a properly classified
statement of financial position (balance sheet), statement of comprehensive income (including income statement),
statement of changes in equity, and statement of cash flows, including the required disclosures and notes to financial
statements.It also covers correlation and reconstruction of accounts from incomplete records, change from cash basis
to accrual basis of accounting, correction of errors, accounting changes, interim reporting, discontinued operations
and other current related items. The students will also be exposed to the financial statements of specialized
industries.
Prerequisites: FINACT1 & 2
Units: 3

Course Code: COSTACC
Course Description: COST ACCOUNTING & COST MANAGEMENT
This course is designed to orient the students on the nature, peculiarities and importance of cost accounting and cost
management framework of business. The overview of cost accounting and the manufacturing cost accounting cycle
is discussed. It introduces the student to various concepts of costs. The first part will be on full costing and the
traditional cost accounting methods involving job order costing and process costing including joint cost allocation
and treatment of by products. This part centers on cost accounting leading to the preparation of cost of goods
manufactured and the determination of product cost on a full cost basis. The last part of the course is cost
management system for the new manufacturing environment such as activity-based costing and backflush costing
system. Also discussed is the impact of environmental concerns on costs.

Prerequisites: FINACT1, 2 & 3

Units: 6

Course Code: ADFINA1
Course Description: ADVANCED FINANCIAL ACCOUNTING & REPORTING, PART I
This course deals with specialized accounting problems likely to be encountered by an accountant. The study of the
various topics in this course is based upon fundamental valuation accounting and accounting theory as applied to
special income and expense recognition methods and expanded business operations. This course includes
specialized problems in partnership accounting, and home office and branch accounting. Also discussed in this
course pertains to special topics on revenue recognition such as installments sales, long-term construction contracts,
and franchise accounting. Also discussed are accounting for corporate liquidation.

Prerequisite: COSTACC
Units: 6

Course Code: MANACO1
Course Description: MANAGEMENT ACCOUNTING, PART I
This course is designed to acquaint students with the role of the accountant in the team by assisting in the analysis,
interpretation, and forecasting of business organizations. It covers the discussion of the foundation of management
accounting; its expanding role, organizational structure, and professional ethics for management accountants; design
of management accounting systems (e.g., responsibility accounting system), evaluating the impact of changes in
business structure, functions, and appropriateness of management accounting techniques and method; basic
interpretation and use of financial statements; performance measurement for planning and control such as: marginal,
absorption, and opportunity costing; cost behavior; cost-volume-profit relationship; advanced analysis and appraisal
of financial and related information; business planning and budgetary systems, standard costing and variance
analysis; quantitative techniques; and methods for planning and control.

Prerequisite: COSTACC
Units: 6

Course Code: ADFINA2
Course Description: Advanced Financial Accounting & Reporting, Part II
This course is a continuation of Advanced Financial Accounting & Reporting, Part 1. It deals mainly with
consolidation and mergers, parent-subsidiary relationships, and consolidated statements. It familiarizes the students
on the acquisition method of accounting for formal business combination. It covers equity and cost method of
accounting for investment as a one-line consolidation, which explains the objectives of consolidation procedures.
The course suggests techniques and procedures in preparing consolidated financial statements and interpreting
reports of group companies. Emphasis is placed on the importance of business combinations and consolidated
financial statements in financial accounting and reporting practices.

The course also deals with accounting for joint ventures. It also presents ways of interpreting and applying specified
PAS/PFRS and exposure drafts related to business combinations and joint ventures. It allows the students to exercise
judgment and techniques in accounting for business combination and joint ventures encountered by professional
accountants.

The course also covers foreign currency and hedging transactions, translation of foreign currency financial
statements, trouble debt restructuring, interim financial reporting, segment reporting, and accounting for
discontinued operations and noncurrent assets held for sale.

Prerequisite: ADFINA1
Units: 6

Course Code: MANACO2
Course Description: MANAGEMENT ACCOUNTING, PART II
This is the second part of management accounting and deals with the application of techniques and concept focusing
on segment reporting, profitability analysis, and decentralization; information for decision making purposes (short
term and long term) and non financial indicators such as productivity per employee or per service unit; decision
making affecting short run operations of the company; capital budgeting decisions; pricing of goods and services;
and environmental cost accounting.

Prerequisite: MANACO1
Units: 6

Course Code: ACCGOVT
Course Description: Government Accounting
This course addresses accounting for national government agencies, including government budgeting, and overview
of government auditing. It introduces the concepts and principles of government accounting, budgeting process, and
its related controls.

Prerequisite: FINACT1, 2 & 3

Units: 3

Course Code: ASUPRIN
Course Description: ASSURANCE PRINCIPLES, PROFESSIONAL ETHICS AND GOOD GOVERNANCE
This course is designed to expose students both to the demand for and the supply of the profession’s flagship service
- financial statement audits - and to the nature of the value-added assurance services which decision-makers demand
in the information age. Topics include: nature of the accounting profession, auditing and assurance fundamentals:
relationship among assurance, attestation, and audit services; consulting vs. assurance services; types of attestation
services (agreed-upon procedures engagement and review engagement); types of audits (internal, external or
financial statement audits, government audit, and special purpose audits); relationship of accounting and auditing;
other services (operational audits, compliance audits, and non-attest services); professional standards: assurance
standards and attestation and auditing standards; public sector regulation of accounting practice and legal liability;
the framework of financial statements auditing: risk-based approach as audit methodology; audit evaluation and
planning, including the concept of risk and materiality; assessing internal controls, and tests of controls;
performance of an audit: evidence collection, analysis, and substantive tests; reporting: reports on assurance
services, attestation services, and financial statement audits; and completing the audit including communications
with board of directors and management concerning internal control weaknesses. Also discussed in detail are the
basic professional values and the Code of Ethics for Professional Accountants.

Prerequisites: FINACT 1, 2 and 3, and ADFINA1 and 2

Units: 6

 
Course Code: MANCONS
Course Description: MANAGEMENT CONSULTANCY
This course covers basic considerations of management consultancy engagements by CPAs; areas of management
consultancy, professional attributes of management standards, and ethical considerations. It also covers project
feasibility study – aspects of project development life cycle, economic aspect, technical aspect, financial aspect
(investment cost, financing, evaluation); information system (IS) engagement, management operations audits, and
business process improvement/reengineering.

Prerequisites: MANACO 1 and 2

Units: 6

Course Code: AUDAPP1
Course Description: APPLIED AUDITING 1
This is a continuation of Assurance Principles, Professional Ethics and Good Governance, focusing on financial
statements audit. It covers detailed approaches to problems and situations normally encountered in the independent
examination of cash, receivables, inventories, investments, prepaid expenses, deferred charges, property, plant and
equipment, intangible s, liabilities, owners’ equity, and revenue and expenses. It deals specifically with the
application of auditing standards, techniques, and procedures; internal control evaluation; preparation of audit
working papers; introduction of computer application in auditing; audit adjustments; and audit reports pertaining to a
medium-sized manufacturing or trading concern. The determination of audit objectives and audit programs,
evaluation of internal control, and determination of substantive procedures as applied to various accounts are better
appreciated as the transaction cycle approach is employed in the course. Audit working papers and audited financial
statements are the natural outputs of this course leading to the preparation of audit reports.
Prerequisites: FINACT 1, 2 and 3, and ADFINA1 and 2, and ASUPRIN
Units: 6

Course Code: AUDAPP2
Course Description: APPLIED AUDITING II
This is a continuation of Assurance Principles, Professional Ethics and Good Governance, focusing on financial
statements audit. It covers detailed approaches to problems and situations normally encountered in the independent
examination of cash, receivables, inventories, investments, prepaid expenses, deferred charges, property, plant and
equipment, intangible s, liabilities, owners’ equity, and revenue and expenses. It deals specifically with the
application of auditing standards, techniques, and procedures; internal control evaluation; preparation of audit
working papers; introduction of computer application in auditing; audit adjustments; and audit reports pertaining to a
medium-sized manufacturing or trading concern. The determination of audit objectives and audit programs,
evaluation of internal control, and determination of substantive procedures as applied to various accounts are better
appreciated as the transaction cycle approach is employed in the course. Audit working papers and audited financial
statements are the natural outputs of this course leading to the preparation of audit reports.

Prerequisite: AUDAPP1
Units: 6

Course Code: ACTREV1
Course Description: Accounting Review 1 (Accounting Review for Qualifying Examination)
Accounting review is a capstone course where 1st year students are required to review knowledge obtained from
previous fundamentals of accounting for sole proprietorship-service merchandising concern, and accounting for
partnership and corporation to answer qualifying examination(s). This course is divided into three parts: Sole
Proprietorship, Partnership and Corporation. The course suggests techniques and procedures in answering different
accounting theories and problems.

Prerequisites: ACTFUN1 and 2

Units: 3

Course Code: ACTREV2
Course Description: ACCOUNTING REVIEW II (Accounting Review for Comprehensive Examination 1)
This course provides a recall on the knowledge gained in Accounting 3 and Accounting 4. This also helps the
student to become fully equipped with knowledge in Financial Accounting, Theory of Accounts and Practical
Accounting Problems I. The course aims to provide the students a full understanding in the whole process of the
preparation of the financial statements. It also gives the students an orientation on how to answer multiple choice
problems and help pass the CPA board examination covered by Financial Accounting. The students are given the
chance to explore on different problem solving techniques for them to be able to answer questions more systematic
and accurate.

Prerequisites: FINACT 1 and 2

Units: 3

Course Code: ACTREV3
Course Description: ACCOUNTING REVIEW III (Accounting Review for Comprehensive Examination 2)
Accounting review is a capstone course where 3rd year students are required to review knowledge obtained from
previous accounting subjects to answer comprehensive examinations 2. This course is divided into four parts: Cost
Accounting and Cost Management, Advanced Financial Accounting & Reporting 1, and Financial Accounting &
Reporting 3. The course discussed accounting issues and special topics in the above subjects. The course suggests
techniques and procedures in answering different accounting theories & problems.

Prerequisites: FINAMA1 and 2, and FINACT3, COSTACC and ADFINA1

Units: 3

Course Code: ACTREV4
Course Description: ACCOUNTING REVIEW IV (Accounting Review for Comprehensive Examination 3)
Accounting review is a capstone course where 4th year students are required to review knowledge obtained from
previous accounting, business law and auditing courses to answer comprehensive examinations 3. This course is
divided into four parts: Management Accounting, Advanced Accounting 2, Auditing Theory and Practice and
Business law. The course suggests techniques and procedures in answering different accounting theories &
problems, as well as business law theories.
Prerequisites: MANACO1 and 2, ADFINA2, ASUPRIN, OBLICON, BUSORGA, SALECOM and NEGOTIN
Units: 3

Course Code: FINAMA1
Course Description: FINANCIAL MANAGEMENT I
This course provides the synthesis of financial policy into a grand strategy which integrates organizational purpose
and goals. The focus of the course is on the current thinking regarding valuation of the firm, investment decision
processes, financing, asset management and financial strategies and portfolio theory. This course also covers the
financial analysis (interpreting and analyzing financial statements for indications of business performance and use of
computers for financial analysis, assessing information weaknesses in financial statements), and planning.

Prerequisites: FINACT1 and 2, and MATHINV

Units: 3

Course Code: FINAMA2
Course Description: FINANCIAL MANAGEMENT II
This course is the continuation of Financial Management I and provides a conceptual framework within which key
financial decisions and risk relating to corporations are analyzed. This analysis considers the formation and use of
current assets, working capital, credit policy, shareholder’s wealth maximization, long-term financing, risk
management (the nature of risk, risk concepts, benefits of risk management , risk management processes, enterprise-
wide risk management, managing operating risks and financial risk) capital acquisition analysis, capital structure
decision, valuation of financial instruments, and the dividend decision. It also examines the many types of derivative
instruments: forward contracts, futures, swaps and options, and how these instruments are used in managing and
modifying financial risks.

Prerequisite: FINAMA1
Units: 3
 

Course Code: APROREV
Course Description: ACCOUNTING REVIEW FOR AUDITING PROBLEMS
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. This subject tests student’s
proficiency in applying audit standards, techniques, and procedures to a typical independent audit of a medium
-sized service, trading or manufacturing concern. Students shall be able to plan and perform an audit, analyze data
for possible errors and irregularities, formulate adjusting entries, resolve audit issues, prepare audit working papers
and complete the audit including the preparation of the audit report. In all the areas included, the candidate shall
apply the Philippine Standards on Auditing (PSA) and other regulatory laws and regulations.

Prerequisites: AUDAPP1 and 2

Units: 3

Course Code: ATEOREV
Course Description: ACCOUNTING REVIEW FOR AUDITING THEORY
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. The subject tests the students’
conceptual knowledge and understanding of assurance and related services performed by professional accountants.
Students should know and understand the nature of assurance and related services particularly independent audits of
financial statements, the responsibilities of professional accountants; the audit process; audit objectives, evidence,
procedures, auditing standards, and the elements of the independent auditors’ report. In all the areas included, the
course shall apply the Philippine Standards on Auditing (PSA) and other regulatory laws and regulations.

Prerequisite: ASUPRIN
Units: 3
Course Code: BLAWREV
Course Description: ACCOUNTING REVIEW FOR BUSINESS LAW
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. This subject tests the students’
knowledge of the legal implications of business transactions, business associations, and negotiable instruments,
particularly as they relate to accounting and auditing situations. Students should know and understand the pertinent
legal provisions, general principles, concepts, and underlying philosophy of the law. The subject is not intended to
test the students’ competence to practice law or their expertise in legal matters but to determine that their knowledge
is sufficient to enable them to recognize the legal implications of business situations, apply the underlying principles
of law to accounting and auditing, and know when to seek legal counsel or recommend that it be sought.

Prerequisite: OBLICON, BUSORGA, SALECOM and NEGOTIN

Units: 3

Course Code: MANSREV
Course Description: ACCOUNTING REVIEW FOR MANAGEMENT SERVICES
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. This subject tests the students’
knowledge of, and proficiency in the concepts, standards, techniques, and methodology applicable to management
services / consultancy practice by CPAs; management accounting; financial management–related services; capital
budgeting concepts and techniques; and project feasibility studies.

Prerequisites: MANACO1, MANACO2, MANCONS, FINAMA1 and FINAMA2

Units: 3

Course Code: PRC1REV
Course Description: ACCOUNTING REVIEW FOR PRACTICAL ACCOUNTING 1
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. The subject tests the students
proficiency in applying financial accounting techniques and methodology to problems likely to be encountered in
practice. The problems involve recognition, measurement, valuation, classification, disposition and disclosure of
assets, liabilities, equity, income, expenses, and net income of a business enterprise, preparation of financial
statements, and contemporary accounting issues in accordance with Philippine Financial Reporting Standards.

Prerequisites: FINACT1, 2 and 3

Units: 3

Course Code: PRC2REV
Course Description: ACCOUNTING REVIEW FOR PRACTICAL ACCOUNTING 2
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. This subject tests the students’
proficiency in applying accounting concepts, techniques and methodology to problems likely to be encountered in
practice. It covers problems involving accounting of special transactions and their effects and presentation in the
financial statements.

Prerequisites: COSTACC, ADFINA1, ADFINA2 and ACCGOVT

Units: 3

Course Code: TAXNREV
Course Description: ACCOUNTING REVIEW FOR TAXATION
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. This subject tests the students’
conceptual knowledge and proficiency in the practical application of the basic principles of taxation as they relate to
accounting practice. The emphasis is on the application of the theory and principles in solving tax problems. The
subject covers the laws on income tax, business taxes (value-added and percentage taxes), estate tax, donors tax, as
well as Revenue Regulations and Court of Tax Appeals and Supreme Court decisions.
Prerequisite: INCOTAX and TRNSTAX
Units: 3

Course Code: TOACREV
Course Description: ACCOUNTING REVIEW FOR THEORY OF ACCOUNTS
Accounting review is a capstone course where 5th year students are required to review knowledge obtained from
previous accounting subjects in preparation for the CPA licensure examinations. The subject tests the students’
conceptual knowledge of financial accounting for business enterprises. It deals with objectives, basic concepts and
practices, principles, and terminology of financial accounting and financial statements, including related issues and
topics. The course is based on Philippine Accounting Standards.

Prerequisites: FINACT1, 2 and 3, ADFINA1 and 2, ACCGOVT, COSTACC

Units: 3

Course Code: INCOTAX
Course Description: INCOME TAXATION
This introductory taxation course is primarily concerned with income taxation. The objective is to develop a
working knowledge of the basic principles and rules of the income tax system as these apply to individuals,
partnerships and corporations. it covers an overview of the national tax system, and the income taxation of
employees and unincorporated businesses and incorporated businesses. It provides the students with knowledge of
the capital gain tax, final tax on certain passive income, and the year-end tax. Including the minimum corporate
income tax, the normal tax, and the improperly accumulated profit tax of corporations and withholding taxes. Tax
forms are provided for specific topic discussed.
Prerequisites: FINACT1, 2 and 3, ADFINA1 and ADFINA2
Units: 6
 

Course Code: TRNSTAX
Course Description: PHILIPPINE TRANSFER AND BUSINESS TAXES
This course is an in-depth study of business and transfer taxes and is a continuation of Tax 1. It covers value-added
tax schemes; local direct taxes including real estate and other property taxes; excise taxes, transfer taxes on
gratuitous transfers of property which are estate tax and donor’s tax; business taxes; and the remedies of the state
and the taxpayer. On estate tax, the basic concepts of succession give the student an understanding of successional
rights. Discussions on estate tax are on gross estate, deductions from the gross estate and computations for the net
taxable estate, estate tax, and estate tax credit. On donor’s tax, basic concepts of donation blend into the discussion
of gross gifts, deductions from gross gifts and computations of net taxable gifts, donor’s tax, and tax credit. On
business taxes, the value-added tax, percentage taxes and excise taxes are discussed on who are the taxpayers, the
tax base, and the tax rates. Community taxes on individuals and corporations, as required under the Local
Government Code, are discussed. Reportorial and administrative requirements on all taxes and the remedies of the
taxpayers on taxes being assessed and/or erroneously paid are discussed. Emphasis is given on ethical considerations
– tax avoidance and the minimization of tax liabilities versus tax evasion.
Prerequisite: INCOTAX
Units: 6

Course Code: INTAUD1
Course Description: INTERNAL AUDITING
This course introduces the students to the nature of auditing theory and practice particular to internal auditing which
will cover the basic concepts related to internal control and its importance to internal auditing, the techniques of
internal auditing applicable to risk assessment and field work and the major considerations in the preparation of
audit reports. The course also covers concepts on the administration of an internal audit activity in an organization.

Prerequisites: FINACT, ADFINA and MANACO

Units: 6

 
Course Code: INFOACT
Course Description: Accounting Information Systems
Accounting Information Systems (AIS) introduces students to the systems that underlie bookkeeping, accounting,
financial reporting, tax reporting, and auditing in all business firms. Such systems are increasingly complex and in a
continual state of flux do to rapidly changing technologies and security risks. In this course, the students learn about
the development standards and practices for accounting information systems and gain hands-on experience in, the
use of electronic spreadsheet software for advanced business analysis, and to gain hands-on experience with a
commercial accounting software package.

Prerequisite: COMPACT
Units: 3