CENTRAL PHILIPPINE UNIVERSITY

Opening Prayer
Dear Lord and Father of all, Thank you for
today. Thank you for ways in which you
provide for us all. For Your protection and
love we thank you. Help us to focus our
hearts and minds now on what we are
about to learn. Inspire us by Your Holy
Spirit as we listen and write. Guide us by
your eternal light as we discover more
about the world around us. We ask all this
in the name of Jesus. Amen.
Acctg 1101 – Financial Accounting & Reporting 1
• INTRODUCTION
• VISION & MISSION STATEMENT
• CPU CORE VALUES
• REVIEW OF RULES & REGULATION OF THE UNIVERSITY
• COURSE REQUIREMENTS
• RETENTION POLICY
• STUDY GUIDE
• CLASSROOM POLICIES
APRIL JOY T. LIMPIN, CPA

Email Address: alimpin@cpu.edu.ph

Contact Number: 09060961823
Office: CBA Faculty Room
• What’s your name?
• Where do you live?
• How young are you ?
• Where did you graduated from?
• Why did you take up this course?
• Anything you’d like us to know?
 CPU Vision & Mission
Vision
• A university committed to Exemplary Christian Education for Life (EXCEL)
and responsive to the needs of the total person and the world.
Mission
• The mission of Central Philippine University is to carry out a program
of spiritual, intellectual, moral, scientific, technological and cultural training
and allied studies under influences which strengthen Christian faith, build up
character and promote scholarship, research and community service.

https://cpu.edu.ph/about-us/vision-mission/
CPU Core Values
• Faith
• The act of believing the things God has revealed about himself and acting on those
beliefs. This includes commitment, cooperation, trust and confidence.
• Character
• The aggregate features and traits that form the individual’s nature as a person, moral
quality, and good report. This includes honesty, integrity, humility and loyalty
• Justice
• Righteousness or lawfulness and fairness. It is observing due process in administering
the deserved punishment or reward. This includes fairness, equality, morality, and peace.
• Stewardship
• The proper and responsible management of life, position, possessions, and other resources
entrusted by God to man. This includes service, accountability, culture, and outreach.

• Excellence
• The highly commendable quality or feature of a person’s worth and/or deeds. This includes
competence, technology, scholarship and research.
(https://cpu.edu.ph/about-us/core-values/)
 RULES & REGULATIONS
ACADEMIC DISHONESTY
• All students in the College of Business and Accountancy are expected to be academically
honest.

• Cheating, lying and other forms of immoral and unethical behaviour will not be tolerated.
Any student found guilty of cheating in examinations or plagiarism in submitted course
requirements will (at minimum) receive zero score or failure in the course requirement or in
the course.

• Plagiarism and cheating refer to the use of unauthorized books or notes; copying tests,
assignments, reports or term papers; representing the work of another person as one’s
own; collaborating without authority, with another student during an examination or in
preparing academic work; signing another student’s name on an attendance sheet; or
otherwise practicing scholastic dishonesty.
 Acctg 1101 – Financial Accounting and Reporting 1

Course Description
• This course provides a reinforcement of basic accounting, within the context
of business and business decisions. Students obtain additional knowledge of
the principles and concepts of accounting as well as their application that will
enable them to appreciate the production of accounting data. Emphasis is
placed on understanding the reasons underlying basic accounting concepts
and providing students with an adequate background on the recording of
transactions, their classifications and reporting function of accounting in a
service and trading concerns through the preparation of Income Statement,
Statement of Changes in Equity, Statement of Financial Position and Cash
Flow Statement. Exposure through the use of practice set in recording and
reporting transactions for service or trading firm is a requirement in this
course. The basic concepts of accounting for manufacturing business is also
introduced.
Course Requirements
• Acctg 1101 – Financial Accounting and Reporting 1 is a six (6 ) units course
and is one of the subjects in BS Accountancy and BS Management
Accounting which has a grade requirement in order to be retained in the
program.
Book Required: A Manual in Financial Accounting and Reporting 1
by: Russali S. Baldevarona, CPA, MBE,
Lorna T. Grande, CPA, Ph. D,
Sharon Rose G. Munar, CPA, MBA
Materials Needed : Calculator, Yellow Pad, Journal/Columnar book
Connectivity to internet during class time.
 Grade Retention
BS Accountancy – First Year
1. An average grade of at least 1.75 in accounting subjects with no grade lower than 2.25
during the first semester is a requirement for enrolment in the second semester.
2. An average grade of at least 1.75 in accounting subjects with no grade lower than 2.25
during the second semester is a requirement for taking the qualifying examination.
3. A student is allowed to enroll in summer if he gets a rating of at least 2.0 composed of his
qualifying examination result (50%) and average grade in accounting subjects (50%).
4. A grade of at least 2.25 in each of the first year summer accounting subject is a
requirement for enrolment in the second year accountancy program.
 Grade Retention
BS Accountancy – Second Year

1. A grade of at least 2.25 in each of the first semester accounting and board-related subjects is
a requirement for enrolment in the second semester.
2. A grade of at least 2.25 in each of the second semester accounting and board-related
subjects is a requirement for taking the qualifying examination.
3. A student is allowed to enroll in summer if he gets a rating of at least 2.25 composed of his
qualifying examination (50%) and average grade in accounting and board-related subjects.
4. A grade of at least 2.25 in each of the summer accounting and board-related subjects is a
requirement for admission in the third year accountancy program.
 Grade Retention
BS Accountancy – Third Year
1. A minimum grade of 2.75 in all subjects must be maintained by the student. A student who falls short of
the cut-off grade may re-enrol the subject. However, the first grade in the subject will be the basis for the
computation of honor points.
2. A student who has left or dropped mark is disqualified from graduating with honors. (Refer to the
University policy on graduating with scholastic honor).
3. The student must pass the following sets of assessment examinations:
A. As a requirement for enrolment in summer:
• Subjects: Cost Accounting, Intermediate Accounting, Taxation, Economics, Statistics and
Computer
B. As a requirement for enrolment in fourth year:
• Subjects: Financial Management, Managerial Accounting, Auditing and Business Law
4. A student passes the assessment examinations if he gets a rating of 65% in each subject. A student who
fails to get 65% in a subject must retake the assessment examination in that subject
 Grade Retention
BS Accountancy – Fourth Year
1. A minimum grade of 2.75 must be maintained by the student.
2. The student must pass the pre-board examinations on the following subjects: Financial Accounting
and Reporting, Advanced Financial Accounting and Reporting, Taxation, Auditing, Management
Advisory Services and Regulatory Framework.
• A student passes the pre-board examination if he gets an average rating of 70% provided he
has no rating below 65% in any subject.
• A student who fails to get an average rating of 70% but gets ratings of 70% in at least 50% of
the subjects is allowed to retake only the subjects which he fails. In case he fails to get the
required passing percentage after retaking the examination, he has to repeat all subjects in the
pre-board examination.
3. Passing the pre-board examination is a requirement for enrolment in the second semester.
 Grade Retention
BS IN MANAGEMENT ACCOUNTING PROGRAM
1. A grade of at least 2.25 in each of the accounting subjects during the first semester is a requirement for
enrollment in the second semester of the first year Management Accounting program
2. A grade of at least 2.5 in each of the accounting subjects during the second semester is a requirement for
enrollment in summer of the first year Management Accounting program.
3. A grade of at least 2.5 in each of the accounting subjects during summer is a requirement for admission to the
second year Management Accounting program.
4. A minimum grade of 2.75 in higher accounting, tax and law subjects is needed to be retained in the program.
5. Only 3r d year or 4th year students who fall short of the cut-off grade are allowed to re-enroll the subject.
However, the first grade in the subject will be the basis for the computation of honor points.
6. An accountancy student may be admitted to the Management Accounting program provided he has complied
with the retention requirements of the program.
7. The student is allowed to have a maximum of 2 “LEFT” or “DROPPED” marks. However, this will disqualify the
student from graduating with honors. (Refer to the University policy on graduating with scholastic honor).
8. An assessment examination in accounting is given in the fourth year. Passing the assessment examination is a
requirement for enrollment in the second semester of the fourth year Management Accounting program.
Grade Components Standard Transmutation Table to
Obtain the Final Grade
COMPONENTS WEIGH Transmuted Value Numerical Grade
TS (%) 98-100 1.00
First semester (2020-21)
Prelim Exam 15% 95-97 1.25
Midterm Exams 20% 92-94 1.50
Final Exam 25% 89-91 1.75
Quizzes 25% 86-88 2.00
Other Requirements 15%
83-85 2.25
100%
TOTAL 80-82 2.50
PASSING MARK 60% 77-79 2.75
75-76 3.00
Below 75 5.00

General Weigthed Average−Passing Mark

Transmuted Value = 100−Passing Mark
x 25 + 75
 STUDY GUIDE
August
Sunday Monday Tuesday
2021
Wednesday Thursday Friday Saturday
1 2 3 4 5 6 7

8 9 10 11 12 13 14

15 16 17 18 19 20 21

22 23 24 25 26 27 28

Orientation Chapter 1- Chapter 1- Chapter 2-

Development & Development & Business
Basic Concept Basic Concept Transaction
29 30 31
Chapter 2- Chapter 3-
Business Accounting
Transaction Equation, Theory
of Debits & Credit
 STUDY GUIDE
September 2021
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4
Chapter 3- Chapter 3-
Accounting Accounting
Equation, Theory Equation, Theory
of Debits & Credit of Debits & Credit
5 6 7 8 9 10 11
Chapter 4- Chapter 4- Chapter 4- Chapter 4-
Accounting Cycle Accounting Cycle Accounting Cycle Accounting Cycle
for a service for a service for a service for a service
Company Company Company Company
12 13 14 15 16 17 18
Chapter 5- Chapter 5- Chapter 5- Chapter 5-
Adjustment Adjustment Adjustment Adjustment
Process Process Process Process

19 20 21 22 23 24 25
Prelim Exams Prelim Exams

26 27 28 29 30
Prelim Exams Prelim Exams
 STUDY GUIDE
October 2021
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
1 2

3 4 5 6 7 8 9
Chapter 6- Chapter 6- Chapter 6- Chapter 6-
Completion of Completion of Completion of Completion of
the Accounting the Accounting the Accounting the Accounting
Cycle Cycle Cycle Cycle
10 11 12 13 14 15 16
Chapter 8- Chapter 8- Chapter 7- Chapter 7-
Imprest Cash Imprest Cash Accounting for Accounting for
System System Merchandising Merchandising
Business Business
17 18 19 20 21 22 23
Chapter 7- Chapter 7- Chapter 9-Special Chapter 9-Special
Accounting for Accounting for Journals Journals
Merchandising Merchandising
Business Business
24 25 26 27 28 29 30
Chapter 9-Special Chapter 9-Special
Journals Journals
 STUDY GUIDE
November 2021
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6
MIDTERM MIDTERM
7 8 9 10 11 12 13
MIDTERM Chapter 10- Chapter 10- Chapter 10-
Accounting for Accounting for Accounting for
Receivables Receivables Receivables
14 15 16 17 18 19 20
Chapter 11- Chapter 11- Chapter 11- Chapter 11-
Preparation of Preparation of Preparation of Preparation of
Worksheet, Worksheet, Worksheet, Worksheet,
adjusting entries adjusting entries adjusting entries adjusting entries
and FS and FS and FS and FS
21 22 23 24 25 26 27
Chapter 11- Chapter 12- Chapter 12- Chapter 12-
Preparation of Voucher System Voucher System Voucher System
Worksheet,
adjusting entries
and FS
28 29 30
Chapter 13- Chapter 13- FINALS-
Manufacturing Manufacturing DECEMBER
Operation Operation
 Examination Guidelines
• The question shall be shown one at a time and shall be locked after the
answer is submitted. For a problem with series of questions/
requirements, the problem/data shall be provided for each
question/requirement.
• Students are required to open their cameras during major examinations
of all accounting and board-related subjects. Students are also required
to use two gadgets such as:
• Two smartphones/tablets
• A laptop/desktop and a smartphone/tablet
• A laptop/desktop and a big mirror
• A smartphone and a big mirror or
• Any combinations of the two gadgets.
• In case of internet connectivity issues, the student should message/call
his/her professor.
 Classroom Policies
• Class Schedule : 5:30 PM – 7:00 PM / 7:00 PM – 8:30 PM
• Date Started : August 23– December 17, 2021
• Class Meeting : Monday to Friday except on wednesdays and when there are
holidays that falls within our class schedule , we shall have special class during
Saturday so that our lesson coverage will not be affected.
• Class Attendance : During regular classes on a classroom setting, we are
required to meet 52 hours for a 3 units course or 104 hours
for a six units course including major exams. For our
present set-up, we are still required to meet the required
number of hours whether synchronous or asynchronous.
 Classroom Policies
✓Zoom or Webex will be used during class discussion.
✓Show up on time at the schedule time
✓Find a place free from distraction
✓Maintain RESPECT in both speaking, writing and appearance
✓Stay on mute, please click the “Raise Hand” button if you would like to
contribute
✓For questions, clarifications or any technical difficulties kindly leave a
message in the chat box
✓Video needs to remain ON to promote focus.
✓Turn on microphones only during interactive discussion
✓Speak only when acknowledged by the instructor
 Thank you for Listening and Welcome to
Accounting 1101!!!
• Any question?
• You may also visit CPU website at www.cpu.edu.ph