Bohol Northern Star College August 2022

College of Business and Accountancy December 2022

Business and Accountancy 1st SEMESTER

Vision Mission

A pioneering Educational institution in the northeastern part of Bohol To provide highly trained facilitators responsive to the needs of
offering quality education empowered by the virtues of noble hearts, educated the community.
minds, and a helpful hands, to be globally competent.

College Goals

1. To hire skillful and competent Faculty and Staff.

2. To develop students to be refined business professionals and globally competitive.
3. To encourage the Faculty and Staff be involved and Participative in all department activities.
4. To be responsiveness to our students towards the attainment of VMGO of the department. And
5. To trace the economic standard of living and involvement of our Graduates towards social responsibility to the community.

Program Outcomes (from CMO No. 17, s.2017 sec. 6.3)

The graduates have the ability to:

1. Analyze the business environment for strategic direction

2. Prepare operational plans
3. Innovate business ideas based on emerging industry
4. Manage a strategic business unit for economic sustainability
5. Conduct business research

Class Information Instructor’s Information

BSBA -FM 1(Block 1 & 2) WARREN M. AUDITOR

MTW College Instructor

10:00AM – 11:00 AM (BLOCK 1) Per Hour

11:00AM- 12:0 PM (BLOCK 2)
Business Room 2 Mobile Number: 09308250904

1ST SEMESTER S.Y. 2022-2023 Warrenauditor107@gmail.com

Course Information

Course Name FINANCIAL ACCOUNTING AND REPORTING Course Code ACCTG 1

Pre-requisite NONE Course Credit 3 units, (18 weeks, 54 hrs. total)

Subject
Course Requirements
• Major Exams
• Summative quizzes
• Per unit outputs as specified in the assessment
• End of course learning log (reflective journal) and portfolio (compilation of outputs) on the different learning.

Grading System
Assessment Tasks Weight Minimum Average
for Satisfactory
Performance
CO1 Attendance 10% 5%
CO2 Quizzes, Assignments and Research 15% 10%
CO3 Oral Recitation 15% 10%
Project/ Portfolio 20% 15%
Major Examinations (Preliminary 40% 35%
Examination, Mid-term Examination)
100% 75%
Previous (Midterm) Grade = 100% x 40%
 Attendance 10% 5%
CO4 Quizzes, Assignments and Research 15% 10%
CO5 Oral Recitation 15% 10%
CO6 Project/ Portfolio 20% 15%
Major Examinations (Semi-final 40% 35%
Examination(Summary Exam), Final
Examination)
100% 75%

Present (Final) Grade = 100% x 60%

40% Previous Grade + 60% Present Grade = Final Grade

The following table will be used in giving the final grades:

Percentage 74 75- 78 - 81- 84- 87- 89- 92- 95- 98-

Equivalent and 77 80 83 86 88 91 94 97 100
below
Final Grade 5.00 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00

Rubrics will be used for other types of assessment such as oral presentation, simulation, etc.

1 2 3 4 5
BEGINNING DEVELOPING APPROACHIN PROFICIENT ADVANCE
Limited Some Evidence G Commendable Exceptional
Evidence of of Achievement PROFICIENCY Achievement Achievement
Achievement Adequate
Evidence of
Achievement
75 – 80 81 – 86 87 – 88 89 – 94 95 – 100
Course Description POs covered

The real focus of this course is uncovering the meaning of accounting information and how this information is used 1,2,3,4,5
by decision makers. It provides financial accounting concepts and new elements to develop the student’s ability to
understand accounting information in service, trading and manufacturing enterprises by understanding the economic activities
that the information describes. It provides introduction to accounting within the context of business and business decision.
Students will explore accounting information’s role in the decision-making process and learn how to use the various types of
information found in the financial statements and annual reports. Students are enhanced with the practice sets on the
application of the complete accounting cycle to service as well as to merchandizing concern.

Course Learning Outcomes POs covered

After studying this course, you should be able to:

1. Define accounting within the context of business and business decision. 1,3, 4

2. Explain the general purposes and functions of accounting information to decision makers. 2,3

1,2,3,4
3. Understand accounting in service, merchandising and manufacturing activities.
1
4. Describe the main elements of financial accounting information – assets, liabilities, revenue and expenses

5. Identify the main financial statements and their purposes. 1,2,3,4

6. Complete the accounting cycle of service and merchandizing activities. 1,2,3,4,5

Time Intended Learning Outcomes Suggested Teaching & Suggested

Allotment (ILOs) Content Learning Activities Assessment Indicators

Week 1-2 After studying the chapter, students CHAPTER 1: BASIC BUSINESS  Introduction of Summative Quiz Educated
be able to: ENVIRONMENT students, instructor, (Essay, minds
school policies, the Identification,  Innovation
 Explain the nature of business  Introduction course subject, Enumeration)  Excellence
  Enumerate and discuss the four  Objective of a Business Firm discussion of the
factors of producing goods and  Types of Businesses syllabus, the grading Assignments
services.  Legal Forms of Business system, and the books
 Explain the main objective of a Organization to be used/ Self-
Advanced
business firm.  Categories of Business Activities introduction video with
Reading/ Research
 Describe the types of businesses.  Business Stakeholders expectations
 Understand the legal forms of  Taxes (Offline/Online/Blended)
organization, their advantages  Interest Rates
and disadvantages.  Facilitated discussion/
 Describe the business activities Lecturing through
 Enumerate and explain the powerpoint
interest of the different business presentation/ Video
stakeholders. Lecture
(Offline/Online/blended)
After studying the chapter, students CHAPTER 2: ACCOUNTING AS
be able to: THE LANGUAGE OF BUSINESS  Oral Reporting Oral recitation
(Powerpoint Creativity
 Explain the nature and overall  Introduction Presentation) Responsibility
objective of “accounting”.  Accounting information: A (Offline/Online/Blended) Summative Quiz Determination
 Enumerate and explain the Means to an End (Essay,
types of accounting information.  Overall objective of accounting Enumeration)
 Class discussions &
 Explain how accounting  Types of Accounting interactions/Video
Week 3 information links economic Information Recorded discusiion
activities to decision-making.  Users of Accounting Information (Offline/Online/Blended)
 Be familiar with the users and  Professional Values and Ethics
uses of accounting information, of Accountants
internal and external.  Relationship of bookkeeping
 Appreciate the need for an and accounting
accountant’s ethical behavior in
fulfilling his mandate.
 Explain the relationship between
bookkeeping and accounting.
Week 4 Preliminary Examination CHAPTER 1 & 2 Preliminary
Examination
 After studying the chapter, students CHAPTER 3: FUNDAMENTAL
be able to:
 Describe the conceptual
framework that govern the
financial reporting activity.
 Identify the basic principles,
assumptions and constraints
in financial reporting.
 Identify the qualities that
Week make accounting information  The Accounting Equation
5-6 useful.
 Explain the accounting
equation and its elements.
 Analyze the effects of
business transactions on the
accounting equation.
 Illustrate the effect of
business transactions in the
financial statements.
ACCOUNTING CONCEPTS AND  Oral Reporting Summative Quiz Helpful Hands
PRINCIPLES; THE (Powerpoint (Problem Solving) Collaboration
ACCOUNTING EQUATION Presentation)/video Leadership
 Conceptual Framework recorded
o Accounting Principles (Offline/Online/Blended)
Noble Hearts
o Accounting Assumptions  Class discussions &
Trustworthiness
o Accounting Constraints interactions/Recorded
 Qualitative Characteristics of discussion Educated
Accounting Information (Offline/Online/Blended) Minds
Competency
 The Accounting Equation  Board work (Offline)
Expanded  Educational games
WHERE I BELONG?
Students will form a
group and try to classify
the account titles where it
belongs. (Offline)
Submit list of account
titles classified in Assets,
Liabilities, Equity,
Expenses and Income.
(Online/Blended)
  After studying the chapter, CHAPTER 4: BASIC FINANCIAL Helpful Hands
students be able to: STATEMENTS  Oral Reporting Summative Quiz Collaboration
(Powerpoint (Preparing Teamwork
 Explain briefly the elements  Basic Output of Financial Presentation) Financial
related to the financial Accounting (Offline/Online/Blended) Statements) Noble Hearts
statements. Accountability
o The Statement of Financial  Facilitated discussion/ Kindness
 Give and describe at least Position or Balance Sheet Lecturing / Video Assignment Optimism
three examples of accounts in Statement Lecture
each element of the financial (Offline/Online/blended) Educated
statements. o The Statement of Profit and Minds
Loss and Other Knowledge
 Be familiar with the financial Comprehensive Income  Think, Pair, Share Determination
statements of the various Students will be given Competency
types of businesses.  Relationship of the Financial problems for the
Week 7
Statements preparation of financial
 Know the importance and the statements and find a
relationship of the financial partner to pair their
statements. works and share it in
the class.
(Offline/Online/Blended)
 Week  After studying the chapter,
9 students be able to:
 Describe the accounting
information (AIS) is.
 Explain the basic functions
essential elements of an AIS.
 Describe the features and
characteristics of an effective  Structure of an AIS
AIS.
 Explain briefly the structure
of an AIS.
 Describe the basic
Computerized AIS.
 Understand who is
responsible for designing and
installing a business firm’s
AIS.
 Describe the tools and
processes comprising the AIS.  Subsidiary Ledger
CHAPTER 5: INTRODUCTION
TO ACCOUNTING  Oral Reporting Summative Quiz
INFORMATION SYSTEM (Powerpoint (Journalizing and Educated
Presentation) Posting) minds
Accounting and Technology (Offline/Online/Blended)  Innovation
 Basic Functions of Accounting  Excellence
Information System  Facilitated discussion/ Oral Recitation  Responsibilit
 Essential Elements of an AIS Lecturing / Video y
Lecture Advanced Reading
 Features of an Effective AIS
(Offline/Online/blended) (Books/ Online)
 Computerized AIS
 Responsibility of for Designing  Board work (Offline)
and Installing AIS To be done online or
 Basic Tools and Processes submitted via
Comprising the AIS GCR/messenger
(Online/Blended)
 Source Documents
 The Account and Its Analysis
 Chart of Accounts
 Debit and Credit Entries
 Double-Entry Accounting
 The General Journal
 Special Journals
 The General Ledger
 Posting Process

Week 10 Midterm Examination CHAPTER 3-5 Midterm

Examination
Week After studying the chapter, students CHAPTER 6: PROCESSING AND  Watch a video Patience
11-12 be able to: REPORTING ACCOUNTING presentation on Oral recitation Attentive
 Describe the complete INFORMATION FOR A SERVICE Accounting Processing from the video Competency
accounting processing cycle ENTITY: Cycle presentation.
(APC). (Offline/Online/Blended)
 Enumerate and explain the  Accounting Processing Cycle Summative Quiz
 major steps in the accounting  Overview of the Major Steps in  Facilitated discussion/ (Problem Solving)
processing cycle and their the APC and their objectives Lecturing
objectives.  Brief Discussion of the Steps in (Offline/Online)
 Apply the accounting the APR Assignment
processing cycle to a service  Completion of the Accounting
company in a sole Processing Cycle
proprietorship setting.
Week 13- After studying the chapter, students CHAPTER 7: ACCOUNTING FOR Helpful Hands
14 be able to: MERCHANDISING ACTIVITIES Collaboration
 Facilitated discussion/ Summative Quiz Teamwork
 Explain the operating cycle of  Nature of Merchandising Lecturing / Video (Preparing
a merchandising company Activities Lecture Financial Noble Hearts
and its major activities.  Operating Cycle of a (Offline/Online/blended) Statements on Accountability
 Describe the major activities Merchandising or Trading Merchandizing) Kindness
for a merchandizing or Business  Brainstorming Optimism
trading company.  Basic Concept of Inventory Group works
 Understand the basic Accounting in a Merchandising (Offline/Online) Educated
concepts of inventory Business Minds
accounting.  Accounting for Merchandising  Seatwork Knowledge
 Describe the two approaches Transactions using the Periodic (Offline/Online/blended) Determination
in accounting for Inventory System and Perpetual Competency
merchandising transactions. Inventory System
 Prepare the financial  The Adjusting and Closing
statements of a trading process for a Merchandising
concern. Business
 Apply the accounting  Accounting for Value-added Tax
processing cycle to a on Purchase and Sale of
merchandising firm using the Merchandise Transaction
two approaches.
Week 15 SEMI- FINAL EXAMINATION CHAPTER 6-7 Semi- Final
Examination

Week 16 After studying the chapter, students CHAPTER 8: SPECIAL  Oral Reporting Summative Quiz Innovation
be able to: JOURNALS AND SUBSIDIARY (Powerpoint (Problem Communication
 LEDGERS Presentation) Solving) Competency
 Describe how accounting system (Offline/Online/Blended) Responsibility
cope with transaction loads.  Introduction Attentiveness
 Rationalize the need for special  The Need for Special Journals  Facilitated
journals and subsidiary ledgers.  The need for Control Accounts discussion/ Assignment
 Explain the relationship between and subsidiary ledgers Lecturing / Video
control accounts and subsidiary  The Accounts Receivable Lecture
ledgers. Subsidiary Ledger (Offline/Online/blended)
 Describe and the use the  The Accounts Payable Subsidiary
Accounts receivable and Ledger  Board work
Accounts payable subsidiary  Special Journals (Offline)
ledger. To be done online or
 Apply the accounting processing submitted via
cycle in a merchandizing GCR/messenger
business using the special (Online/Blended)
journals.
Week 17 After studying the chapter, students CHAPTER 9: BASIC  Facilitated discussion/ Summative Quiz Educated
be able to: ACCOUNTING FOR Lecturing / Video (Problem Minds
MANUFACTURING Lecture Solving) Knowledge
 Describe and explain the nature OPERATIONS (Offline/Online/blended) Competency
and operations of manufacturing
companies.  Nature of Manufacturing Helpful Hands
 Understand the nature of Operations  Peer Tutorial/ Online Collaboration
inventories of a manufacturing  Production, Marketing, and Group Discussion Teamwork
concern. Administrative Costs (Offline/Online/Blend
 Explain the elements of  Inventories of a Manufacturing ed) Noble Hearts
production costs. Company Accountability
 Prepare the statement of cost of  Elements of Productions Costs Kindness
goods manufactured and sold.  Basic Accounting for Production
 Prepare and explain the Costs
statement of income of a  Flow of Cost in a Manufacturing
manufacturing company. Company
Week 18 After studying the chapter, students CHAPTER 10:  Facilitated discussion/ Oral Recitation Teamwork
be able to: UNDERSTANDING CLASSIFIED Lecturing / Video Collaboration
 FIMANCIAL STATEMENTS Lecture Summative Quiz Competency
 Explain the nature and purpose (Offline/Online/blended) (Prepare a Attentiveness
of classifications in financial  Financial Statements are classified balance
statements. Designed for Analysis  Board work/ Group sheet, multi-step
 Discuss the quality of a  Understanding the Statement of Work (Offline) and single-step
company’s earnings, assets, Financial Position or Balance To be done online or income statement)
and working capital. Sheet submitted via
 Prepare a classified balance  Measures of liquidity and Credit GCR/messenger
sheet and compute widely used Risk (Online/Blended) Portfolio
measures of liquidity and credit  Understanding the Statement of (Containing all
risk. Income output in
 Prepare a multi-step and a  Measures of Profitability accounting cycle
single-step income statement  Understanding the Statement of and preparation of
and compute widely used Shareholder’ Equity financial
measures of profitability.  Understanding the Statement of statements)
Cash Flows

FINAL EXAMINATION CHAPTER 8-10 FINAL

EXAMINATION

List of References
Cabrera, M.B. & Cabrera, G.B. (2019). Financial Accounting and Reporting Fundamentals. C.M. Recto Avenue Manila, Philippines: GIC ENTERPRISES & CO.,
INC.
Millan, Z.V. (2022) Financial Accounting and Reporting Fundamentals (2 nd Ed.). https://www.studocu.com

https://www.youtube.com/watch?v=0HBPIeFdjfg

https://pdfcoffee.com/qdownload/financial-accounting-and-reporting-fundamentals-2nd-edition-zeus-vernon-millan-financial-accounting-and-reporting-
fundamentals-2nd-edition-zeus-vernon-millan-pdf-free.html

Descriptions of Assessment Methods

Assessment Method Description

Facilitated Discussions
Video Lecture/Lesson
Advanced
Reading/Study/Research
Library/Online research
The facilitator assists the parties to prepare for and engage in a conversation to identify and clarify the issues that
are at stake.
A video lesson or lecture is a video which presents educational material for a topic which is to be learned. The
format may vary. It might be a video of a teacher speaking to the camera, photographs and text about the topic
or some mixture of these. 
To be able to be ahead in development, knowledge, progress, etc. 
This involves the systematic gathering of information in order to write a paper, create a presentation, or complete
a project. The students should also do their own research to add up what they have already learned.

Portfolio Making/Case Study A portfolio is a collection of self-chosen work that exhibits a student’s effort, progress and achievement. Examples
of evidence criteria include: selection, organization, reflection, alignment, connection with learning outcomes,
creativity, and reflection exhibiting depth, breadth and growth of student’s cognitive and emotional skills

Summative Quizzes Tests what has been learnt, the extent of the students’ knowledge on a particular topic. Often held at the end of a
topic or session.
Prepared by:
WARREN M. AUDITOR
Instructor

Recommending for Approval:

ELVIE G. RANOLLO, CPA, MPA
Dean/Program Head

Approved by:
LEONARDA D. LOAYON, Ed.D
School President