POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
COURSE TITLE INTERMEDIATE ACCOUNTING 2
COURSE CODE ACCO 20093
CREDIT UNITS 3 UNITS
COURSE PREREQUISITE ACCO 20053 – Intermediate Accounting 1
COURSE DESCRIPTION The course covers understanding and application of accounting principles and standards relating to nature and composition of accounts, initial recognition, measurement and valuation, subsequent
events and transactions, subsequent measurement and the required disclosures of intangible assets, investment property, non-current assets held for sale, investment in equity and debt securities, and
financial liabilities.
Institutional Learning Outcomes
1. Creative and Critical Thinking
Graduates use their imaginative as well as a rational thinking ability to life
situations in order push boundaries, realize possibilities, and deepen their
interdisciplinary and general understanding of the world.
2. Effective Communication
Graduates are proficient in the four macro skills in communication (reading,
writing, listening, and speaking) and are able to use these skills in solving
problems, making decisions, and articulating thoughts when engaging with
people in various circumstances.
3. Strong Service Orientation
Graduates exemplify the potentialities of an efficient, well-rounded and
responsible professional deeply committed to service excellence.
4. Community Engagement
Graduates take an active role in the promotion and fulfillment of various
advocacies (educational, social and environmental) for the advancement of
community welfare.
5. Adeptness in the Responsible Use of Technology
Graduates demonstrate optimized use of digital learning abilities, including
technical and numerical skills.
6. Passion to Lifelong Learning
Graduates are enabled to perform and function in the society by taking
responsibility in their quest to know more about the world through lifelong
learning.
7. High Level of Leadership and Organizational Skills
Graduates are developed to become the best professionals in their respective
disciplines by manifesting the appropriate skills and leaderships qualities.
8. Sense of Personal and Professional Ethics
Graduates show desirable attitudes and behavior either in their personal and
professional circumstances.
9. Sense of National and Global Responsiveness
Graduates’ deep sense of national compliments the need to live in a global
village where one’s culture and other people culture are respected.
ACCOUNTANCY DEPARTMENT
Program Outcomes Course Outcomes
BSA and BSMA graduates must demonstrate the ability to review, interpret, evaluate Upon completion of the course, the students will be able to:
financial data and systems in compliance with established policies, procedures,
a. have sound knowledge of the accounting standards applicable
guidelines, agreements and/or legislation. They must be able to link data, knowledge and
to the recognition, classification, measurement and derecognition
insight together with different sources and disciplines to make informed decisions.
of intangible assets, investment property, non-current assets held
BSA and BSMA graduates should possess active listening skills and the ability to
for sale, investment in equity and debt securities, and financial
effectively communicate one’s point of view, both orally and in writing, at all
organizational levels; be able to explain verbally and/or writing financial, statistical, liabilities
administrative matters/policies/procedures/regulatory matters/audit results at a level b. understand the appropriate presentation of the major asset and
appropriate to the audience and must be able to negotiate effectively. liability accounts and related revenues and expenses in the
financial statements, including the appropriate disclosures.
BSA and BSMA graduates should develop an ability to work in groups, possess skills to
c. apply the accounting standards in the presentation of intangible
participate as member of a team or/and contribute to group effort; be able to teach others
new skills; be able to work to the satisfaction of the clients; negotiate and work with assets, investment property, non-current assets held for sale,
diversity or work well with men and women from diverse backgrounds.
investment in equity and debt securities, and financial liabilities,
BSA and BSMA graduates must work with the highest standards of professionalism, to and related revenue and expense items on the financial statements,
attain higher level of performance and generally to meet the public interest, he must including the required disclosures.
conform to the ethical standards of the profession that include: Integrity, objectivity and d. apply the skills in systematic problem solving.
independence, professional competence and due care, confidentiality, professional
e. present computations and financial statements in good form.
behavior and moral values.
f. appreciate the importance of appropriate accounting and
BSA and BSMA graduates should possess general knowledge in gaining and reporting for various users of accounting information.
understanding of the different cultures in the world and developing an international
g. realize the contributions of accounting standards to the
objective thus, he must possess competency in English language, adaptability to foreign
business practices, level of trainability and good capabilities in dealing with foreign development of a more socially responsible and morally upright
partners. professional accountant.
BSA and BSMA graduates should not only be conversant with IT concepts for business
systems but sound knowledge on internal control in computer-based systems,
development standards and practices for business systems, management of the adoption,
implementation and use of IT, evaluation of computer business systems, and managing
the security information.
BSA and BSMA graduates should possess broad base of knowledge concerning macro-
environmental, economic and industry issues, business process structures, functions and
practices. It includes knowledge in areas such as economics, quantitative models and
business statistics, organizational behavior, international business, ethics and corporate
governance.
Course Plan

Week Topic Learning Outcomes Methodology Resources Assessment

1 Orientation on course syllabus;
grading system; class management
policies; required textbook.
1-3 Intangible Assets
4-5 Investment property
5-6 Non-current assets held for sale
7-9 Investment in Equity Securities
• Make the students at ease and eager to learn. • Presentation of the grading
• Relate ACCO 20093 to ACCO 20053 and to higher level system; class management
accounting subjects such as Auditing and Integrated policies and the rest of the
Review for Financial Accounting and Reporting. syllabus.
• Clarification of expectations
The learner will be able to: • Online lecture and The Intermediate Accounting • Online recitation
• understand the nature of intangibles per IAS 38; discussion Series, Volume 2 by Robles and • Virtual presentation by
• account for the acquisition and amortization of • Problem solving Empleo students of their answers to
intangibles; • Students to read the assigned exercises and problems
• account for subsequent expenditures affecting financial statement • Online quiz regarding the
intangibles; disclosure regarding topic
• understand accounting for research and intangible assets of a PSE
development costs; listed company.
• recognize impairment of intangible assets (IAS 36);
• learn the internal control measures over intangible
assets;
• determine how and at what amount intangibles are
presented on the statement of financial position; and
• identify the required disclosures for intangible
assets.
The learner will be able to: • Online lecture and The Intermediate Accounting • Online recitation
• define investment property per IAS 40 and discussion Series, Volume 2 by Robles and • Virtual presentation by
differentiate them from owner-occupied assets; • Problem solving Empleo students of their answers to
• measure investment property upon initial • Students to read disclosure assigned exercises and problems
recognition and after initial recognition; regarding investment • Online quiz regarding the
• account for transfer of classification from and into properties of a PSE listed topic
investment property; and company
• identify the required disclosures for investment
property.
The learner will be able to: • Online lecture and The Intermediate Accounting • Online recitation
• define non-current assets held for sale per IFRS 5; discussion Series, Volume 2 by Robles and • Virtual presentation by
• measure non-current assets held for sale upon initial • Problem solving Empleo students of their answers to
recognition and after initial recognition; and • Students to read disclosure assigned exercises and problems
• identify the required disclosures for non-current regarding non-current assets • Online quiz regarding the topic
assets held for sale. held for sale of a PSE listed
company
The learner will be able to: • Online lecture and The Intermediate Accounting • Online recitation
• understand the nature of investment in equity discussion Series, Volume 1 by Robles and • Virtual presentation by
securities; • Problem solving Empleo students of their answers to
• classify investments in equity securities in • Students to read disclosure assigned exercises and problems
accordance with IFRS 9; regarding investment in • Online quiz regarding the topic
 • measure investment at the date of initial recognition; equity securities of a PSE
• formulate entries for transactions affecting listed company
investment in equity securities subsequent to
acquisition;
• measure investment in equity securities at the end of
the reporting period and account for changes in their
carrying amount;
• apply the principles for reclassification of
investment in equity securities
• present investment in equity securities and the
resulting accounts and information in the financial
statements; and
• identify the required disclosures for non-current
assets held for sale.
MIDTERM DEPARTMENTAL EXAMINATION
10-12 Investment in Debt Securities The learner will be able to: • Online lecture and The Intermediate Accounting • Oral Recitation
• understand the nature of investment in debt discussion Series, Volume 1 by Robles and • Virtual presentation by
securities; • Problem solving Empleo students of their answers to
• classify investments in debt securities in • Students to read disclosure assigned exercises and problems
accordance with IFRS 9; regarding investments in • Quiz regarding the topic
• measure investments in debt securities at the date debt securities of a PSE listed
of initial recognition and at reporting date; company
• formulate entries for transactions affecting
investment in debt securities subsequent to initial
recognition;
• identify the required disclosures for investment in
debt securities
15-18 Financial Liabilities The learner will be able to: • Online lecture and The Intermediate Accounting • Oral Recitation
• understand the nature of financial liabilities; discussion Series, Volume 1 by Robles and • Virtual presentation by
• define liabilities and explain their essential • Problem solving Empleo students of their answers to
characteristics (IAS 1); • Students to read disclosure assigned exercises and problems
• explain the nature of accounts payable, notes regarding financial liabilities • Quiz regarding the topic
payable and bonds payable; of a PSE listed company
• describe the initial recognition of financial liabilities
based on IFRS 9;
• describe the transactions subsequent to initial
recognition of accounts payable, notes payable and
bonds payable;
• identify the process of settlement of financial
liabilities; and
• present financial liabilities and relevant
information in the financial statements.
FINAL DEPARTMENTAL EXAMINATION
Suggested Readings and References
• CIRC HF 5635 W37 2014, Warren, Carl S., Financial Accounting, 13th ed., 2014
• CIRC HF 5635 F56 2013, William, Jan R., Financial & Managerial Accounting: The basis for business decisions, 16th ed., 2013
• CIRC HF 5635 F5313 2013, William, Jan R., Financial Accounting, 15th 3d. 2013
• REF HF 5626 1594 W55 2013, Wiley 2012 Interpretation and application of international financial reporting standards, Bruce Mackenzie, 2013
• IAS 1: Presentation of Financial Statements, https://www.ifrs.org/issued-standards/list-of-standards/ias-1-presentation-of-financial-statements/
• IAS 36: Impairment of Assets, https://www.ifrs.org/issued-standards/list-of-standards/ias-36-impairment-of-assets/#
• IAS 38: Intangible Assets, https://www.ifrs.org/issued-standards/list-of-standards/ias-38-intangible-assets/
• IAS 40: Investment Property, https://www.ifrs.org/issued-standards/list-of-standards/ias-40-investment-property/
• IFRS 5 : Non-current Assets Held for Sale and Discontinued Operations, https://www.ifrs.org/issued-standards/list-of-standards/ifrs-5-non-current-assets-held-for-sale-and-discontinued-operations/
• IFRS 9: Financial Instruments, https://www.ifrs.org/issued-standards/list-of-standards/ifrs-9-financial-instruments/
• Robles, Nenita S. and Empleo, Patricia M. The Intermediate Accounting Series, Volume 1, 2020 Edition, Millennium Books Inc.
• Robles, Nenita S. and Empleo, Patricia M. The Intermediate Accounting Series, Volume 2, 2019 Edition, Millennium Books Inc.

Course Grading System

ONLINE MODE OF LEARNING
Class Standing 70%
Quizzes 50%
Assignments and other activities 20%
Departmental examination 30%
Total 100%

Final Grade = (1st Grading Period + 2nd Grading Period)

2

CORRESPONDENCE MODE OF LEARNING

Result from Online Final Departmental Examination 60%
Result from the activities in the modules 40%
Total 100%

Classroom Policy
The allowed number of absences for students enrolled in ACCO 20093 with once-a-week meeting is four (4). Request for excused absences or waiver of absences must be presented upon reporting back to class.
Special examinations will be allowed only in special cases, such as prolonged illness. It is the responsibility of the student to monitor his/her own tardy incidents and absences that might accumulate leading to a
grade of “FA,” (Failed due to Absences). It is also his/her responsibility to consult with the teacher, chair or dean should his/her case be of special nature.

All BSA and BSMA students are expected to be academically honest. Cheating, lying and other forms of immoral and unethical behavior will not be tolerated. Any student found guilty of cheating in examinations
will (at a minimum) receive a grade of 5.0 in the said test.

Consultation Time
Subject to the availability of the subject teacher, student may approach the subject teacher for queries about his/her grade as well as other academic requirements for the subject.
 Prepared by: Enhanced by: Reviewed by:

(sgd.) (sgd.) (sgd.)

Lyra Victoria V. Lascano, CPA, MBA Noel A. Bergonia, CPA, MBA Lilian M. Litonjua, CPA, MBA
Faculty Member Faculty Member Chairperson

(sgd.)
Edelwin T. Fajutagana, CPA, MBA
Faculty Member

Recommending Approval:

(sgd.) (sgd.)
Concepcion M. Vedasto, CPA, MBA Dr. Julieta G. Fonte, CPA
Faculty Member Dean, College of Accountancy and Finance

Approved by:

(sgd.)
Dr. Emanuel C. De Guzman
Vice President for Academic Affairs

Revised March 2021