Lyceum of the Philippines University

Cavite Campus
College of Business Administration
Effective First Semester, AY 2022-2023

S YL LAB U S

Course Title: PARTNERSHIP AND CORPORATION ACCOUNTING

Course Code: ACCN02B
Number of units: Three (3) units
Lecture Hours /Week Three (3) hours weekly
Laboratory Hours/Week None
Pre-requisite subjects: None

Educational Philosophy
Lyceum of the Philippines University (LPU), an institution of higher learning, inspired by the ideals of Philippine
President Jose P. Laurel is committed to the advancement of his philosophy and values: Veritas et Fortitudo (Truth and
fortitude) and Pro Deo et Patria (for God and Country)

Vision
An internationally accredited university dedicated to innovation and excellence in the service of God and Country.

Mission
Lyceum of the Philippines University, espousing the ideals of Jose P. Laurel, is committed to the following mission:

1. Advanced and preserve knowledge by undertaking research and disseminating and utilizing the results –
RESEARCH
2. Provide equitable access to learning through relevant, innovative, industry-based and environment-conscious
programs and services in the context of nationalism and internationalism – INSTRUCTION and QUALITY SERVICE
3. Provide necessary knowledge and skills to meet entrepreneurial development and the managerial requirements of the
industry – INSTRUCTION
4. Establish local and international linkages that will be the source of learning and growth of the members of academic
community – INSTRUCTION and INSTITUTIONAL DEVELOPMENT
5. Support a sustainable community extension program and be a catalyst for social transformation and custodian of
Filipino culture and heritage – COMMUNITY EXTENSION
6. Build a community of God-centered, nationalistic, environment conscious and globally competitive professionals
with wholesome values and attitude – PROFESSIONALISM and VALUES

Core Values
L – Love of God J - Justice
P – Professional Integrity N – Nationalism P - Perseverance
U – Unity L – Leadership

Learning Goals
At the end of the program, the students should be expected to:

Competencies Learning Goals

1. Communication
2. Information Retrieval & Evaluation
3. Proactive and Spiritual Values
4. Teamwork and Leadership
5. Creative and Analytical Thinking
6. Computer Literacy
7. Entrepreneurial
Show ability to express their own thoughts, ideas and opinions in both oral and
written form.
Possess ability to process, record, summarizes information and produce reports
through the use of computers.
Develop love for God and Country as embodied in the LPU educational
philosophy, mission and vision.
Develop leadership ability and community spirit by engaging in activities that
requires teamwork.
Demonstrate the ability to link data from different sources in order to arrive at
the correct solutions to problems.
Be conversant with IT concepts and acquire sound knowledge in the application
of computer in the protection of data.
Acquire knowledge in business concepts, operations and other entrepreneurial
skills.

College Vision
To be recognized as the center of excellence in Accountancy, Business Administration, Custom Administration
and Real Estate Management that developed responsible business leaders and nurtures entrepreneurial attitudes, skills and
competencies.

ACCN02B Page 1 of 5
College Mission
Commitment towards the formation of competent, socially oriented, spiritually integrated and globally
competitive business professionals through
1. Continuous discovery of new knowledge by undertaking relevant researches
2. Innovative teaching strategies
3. Involvement in community outreach and services
4. Development of positive attitudes and ethical values.

College Objectives
Today’s business leaders seek employees who have both the knowledge and experience necessary to make immediate
and significant contribution to the workplace. The academic programs of the College of Business Administration are
designed to meet this demand by
1. inculcating in the students the social, moral, spiritual and ethical values,
2. providing the necessary knowledge and skills to meet entrepreneurial requirements,
3. developing the students to become globally competitive graduates who possess the necessary skills
in communication and leadership and information technology, and
4. training the students to become creative and analytical thinkers.

Program Objectives:
To produce competent professional accountants capable of making positive contributions to the profession.
1. To develop and maintain an attitude of learning to learn to adapt to change.
2. To develop professional accountants with appropriate values, ethics and attitudes
4. Prepare students for the CPA licensure examinations and for a successful long-term professional
accounting career.

Program Outcomes
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 systems.
2. Conduct management accounting research through independent studies of relevant literature and appropriate use of
accounting theory and methodologies
3. Employ technology as a business tool in capturing financial and non-financial information, generating reports and
making decisions.
4. Apply knowledge and skills that will successfully respond to various types of assessments (including professional
licensure and certifications)
5. Confidently maintain a commitment to good corporate citizenship and ethical practice in performing functions as an
accountant.
Additional outcomes based on the university’s vision and mission.
6. Conduct feasibility study of a start-up business entity.
7. Develop creative and analytical thinking skills

Course Description:
This course provides an introduction to Partnership and Corporation accounting within the context of business and
business decisions. The first part of the course is the review of the accounting principles of adjustments relative to deferred
and accrued items, the voucher system, the imprest system of controlling cash and the basic principles of bank reconciliation
statement.
The students obtain basic understanding of the principles and concepts of accounting for partnership form of business:
its formation, operations and dissolution. It also involves that study of the concepts and procedures of accounting for
corporation; its legal requirements, accounting treatment for capital stocks issuance, reacquisition of stocks issued, the
concepts of stockholders' equity, dividends, incorporation of single proprietorship and partnership.

Course Learning Objectives:

Cognitive
1. Define a partnership and explain the pre-requisites as provided for in the definition.
2. Enumerate the different kinds of partnership, the different kinds of partners.
3. Define a corporation and explain its characteristics as provided for in the definition.
4. Enumerate and explain the legal requirements in forming a corporation.
5. Explain the difference between the different kinds of corporation; the common and preferred
stocks and the par value and non-par value stocks.

Affective
1. Recognize the importance of accounting not only in the operations of a business but also in their
own life.
2. Develop the love for accounting despite of the perception that it's a difficult subject.

Psychomotor
1. Apply the accounting principles and procedures in recoding partnership formation.
2. Compute partnership profits and distribute the same among the partners in accordance with the

ACCN02B Page 2 of 5
 agreed profit and loss ratio.
3. Record partnership dissolution and liquidation including distribution of assets to the partners.
4. Apply accounting principles and procedures in journalizing the issuance of corporate shares of
stocks.
5. Prepare journal entries for the acquisition of treasury stocks.
6. Compute dividends and records its issuance to stockholders.

Course Outline
Week Lesson/Topic Learning Objectives
1 Review of Adjusting Entries Explain further the procedures in adjusting prepaid
(1.5 hrs.) • Adjustments for Prepaid Items expenses.

1 Review of Adjusting Entries Explain further the procedures in adjusting income

(1.5 hrs.) collected in advance and accrued items.
• Adjustments for Deferred Income
• Adjustments for Accruals

2 Review of Adjusting Entries Explain further the procedures in adjusting possible

(3 hrs.) • Adjustment for Doubtful Accounts uncollectible accounts and depreciation of assets.
• Adjustments for Depreciation

3 Cash Control System Discuss the best cash control system that a business
(3 hrs.) • Petty Cash Fund could apply to protect their cash items.
• Bank Reconciliation

Introduction to Partnership Accounting Give the Students introductory knowledge about the
4 concepts of the partnership form of business.
3(hrs) • Basic Concepts
• Kinds of Partnership
• Kinds of Partners
• Accounting for Partnership
Formation

(1.5 hrs.) PRELIMINARY

EXAM
13.5 hrs. SUB TOTAL
HOURS
5&6 Accounting for Partnership Operations Explain how partnership profits are distributed among
(3 hrs.) • Determination of Net Income the partners with set ratios.
• Distribution of Profits Using
Agreed Ratios

6&7 Accounting for Partnership Operations Explain how partnership profits are distributed among
(3 hrs.) • Distribution of profits using the partners following specific agreement of the
Specific Agreement of Partners. partners.
• Statement of Partners Capital.

7&8 Accounting for Partnership Dissolution Analyze and record admittance of a new partner in
(3 hrs.) • Admittance of New Partner by an existing partnership.
Purchase
• Admittance of New Partner by
Investment

8 Accounting for Partnership Dissolution Discuss the dissolution process when partner's withdrew
(1.5 hrs.) • Resignation of a Partner from the partnership; when a partnership was converted
• Death of a Partner into corporation.
• Incorporation of the Partnership

9 Accounting for Partnership Liquidation Prepare partnership liquidation statement if assets are
(1.5 hrs.) • Lump Sum Liquidation sold at lump sum price.

(1.5 hrs.) MIDTERM EXAM

13.5 hrs. SUBTOTAL
HOURS

ACCN02B Page 3 of 5
 10 & 11 Accounting for Partnership Liquidation Prepare liquidation statement if assets are sold on
(6 hrs.) • Installment Liquidation installment. Introduce the basic concept of a corporate
Introduction to Corporation Accounting form of business.
• Basic Concepts of a Corporation
• Kinds of Corporation
• Shares of Stocks

12 Accounting for Corporation - Issuance of Records issuance of a corporate shares of stocks.

(3 hrs.) Capital Stocks
• Memorandum Method
• Journal Entry Method

13 The Stockholders' Equity Differentiate the various kinds of shares of stocks of a

(3 hrs.) • Par value and No-Par Value Stocks corporation. Identify the different components of the
• Common and Preferred Stocks stockholders' equity.
• Component of Stockholders'
Equity
• Preparation of Stockholders' Equity

14 Accounting for Treasury Stocks Apply accounting procedures involving treasury stocks.
(3 hrs) • Acquisition of Treasury Stock
• Re-issuance of Treasury Stock
• Retirement of Treasury Stocks

15 Components of Retained Earnings Identify accounts that composed retained earnings.

(3 hrs) • Net Income or Loss
• Appropriated and Free Retained
Earnings
• Statement of Retained Earnings

16 Accounting for Dividends Compute and record dividends declaration.

(3 hrs) • Cash Dividends
• Property Dividends
• Stock Dividends
• Earnings per Share
• Dividends per Share
• Book Value per Share

17 & 18 Review for Final Exams Refresh students' stock knowledge in preparation for the
(4 hrs) • Partnership Formation final examinations.
• Division of Profits
• Partnership Dissolution
• Partnership Liquidation
• Issuance of Corporate Stocks
• Treasury Stocks
• Stockholders' Equity
• Retained Earnings
• Dividends

(2 hrs) FINAL EXAM

27 hrs. SUB TOTAL
HOURS.
54 hrs. TOTAL HOURS.

CLASSROOM POLICIES

A. Attendance
Students are not allowed to have 20% or more absences of the total class hours, otherwise, they will be graded as
follows:
Dropped (if majority of the excessive absences are excused)
Failed (if majority of the excessive absences are unexcused)

B. Classroom decorum
Students are required to:
1. wear their identification cards and observe proper dress code at all times
2. turn off or put in silent mode their cellular phones during class hours;
3. maintain cleanliness and orderliness of the room at all times; and
ACCN02B Page 4 of 5
 4. come to class on time.

C. Examination/ Evaluation
1. Quizzes may be announced or unannounced.
2. Long examinations are always announced.
3. Cheating is strictly prohibited. A student who is caught cheating will be given a score of ”0” for the first offense. For
the second offense, he/she will automatically fail the subject.
4. Examination permits are required during midterm and final examinations.
5. Students who missed exams, laboratory exercises, or quizzes may only be excused for any of the following reasons:
a. participation in a University/College-approved field trip or activity (must be cleared one week in
advance);
b. personal illness (must present medical certificate); and
c. death or serious illness in the immediate family (must present death or medical certificate).

Textbook:
Partnership and Corporation Accounting /Win Lu Ballada: Dome Dane Publishings, c2015

Course Requirements:
1. Creative Academic Performance
1.1 Attendance
1.2 Recitation
1.3 Quizzes
1.4 Seat works, Assignment, Class participation
1.5 Project/Research
2.Major Examinations
2.1 Preliminary Examinations
2.2 Midterm Examinations
2.3 Final Examinations
Computation of Grades:
G1 = 40% PE + 60% CAP1
G2 = 40% ME + 60% CAP2
G3 = 40% FE + 60% CAP3
FG = 33.33% G1 + 33.33%G2 + 33.34%G3
Where: G1 = Prelim Period Grade
G2 = Midterm Period Grade
G3 = Final Period Grade
CAP1 = Prelim Period Creative Academic Performance
CAP2 = Midterm Period Creative Academic Performance
CAP3 = Final Period Creative Academic Performance
PE = Prelim Examination
ME = Midterm Exam
FE = Final Exam

Prepared and Updated by /Date Validated by / Date Endorsed by / Date Approved by:/Date

Leymar M. Toliba

Faculty Member Industry Advisory Reynaldo San Mateo Ramon C. Maniago

Board Dean Executive Dean

Melita Soriano

Chairperson

ACCN02B Page 5 of 5