IMS-VPED-007

1
QR-VPED-007
Rev.01
6
TH
June 2012

156 M.L. Quezon Ave.,Antipolo City

SCHOOL OF BUSINESS ADMINISTRATION



COURSE CODE : ACCOUNTING 1

COURSE TITLE : FUNDAMENTALS OF ACCOUNTING, PART I

CURRICULAR AREA : BSA - FIRST YEAR

COURSE DESCRIPTION : This course provides an introduction to accounting, within the context of business and business decisions.
Emphasis is placed on understanding the reasons underlying basic accounting concepts and providing
students with an adequate background on the recording, classification, and summarization functions of
accounting to enable them to appreciate the varied uses of accounting data.

COURSE OBJECTIVE/S : To obtain basic understanding of the principles 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.

TIME ALLOTMENT : 6 HOURS PER WEEK

UNIT CREDIT : 6 UNITS

PREPARED BY : MS. ROANA BACANI

ADOPTED BY (if applicable) : MS. ILENE PADILLA

REVIEWED BY (Chair / Co-Chair) :

APPROVED BY (Dean) : MRS. MARIA ROSARIO MARQUEZ - LUZON

DATE REVISED/UPDATED : JUNE 6, 2013





IMS-VPED-007
2
QR-VPED-007
Rev.01
6
TH
June 2012

SUMMARY OF SUBJECT MATTER/TOPICS AND COURSE REQUIREMENTS

INCLUSIVE
WEEKS
SUBJECT MATTER COURSE REQUIREMENTS
MONITORING
STATUS REMARKS
C NC


1
ST
WEEK to 6
TH

WEEK



PART ONE: INTRODUCTION
1. Accounting and Its Environment
2. International Accounting Standards, New IFRS
Framework
3. Accounting Equation and the Double-Entry System

PART TWO: ACCOUNTING FOR A SERVICE BUSINESS
1. Recording Business Transactions
2. Adjusting the Accounts

Attendance and Punctuality
Discussion (Class Participation)
Oral Presentation (Reports)
Quizzes and Examinations
Assignments
Decorum / Behavior



Attendance and Punctuality
Discussion (Class Participation)
Oral Presentation (Reports)
Quizzes and Examinations
Assignments
Decorum / Behavior


Attendance and Punctuality
Discussion (Class Participation)
Oral Presentation (Reports)
Quizzes and Examinations
Assignments
Decorum / Behavior





7
th
WEEK to 12
TH

WEEK




3. Worksheets and Financial Statements
4. Completing the Accounting Cycle
PART THREE: ACCOUNTING FOR A MERCHANDISING
BUSINESS
1. Merchandising Operations
2. Completing the Cycle for a Merchandising Business
3. Special and Combination Journals, and Voucher System


13
th
WEEK to
18
TH
WEEK



PART FOUR: OTHER TOPICS
1. Manufacturing Operations
2. Internal Control & Cash
3. Accounts and Notes Receivables
4. Inventory, Property and Equipment
5. Payroll

* C - Complied; NC Not Complied






IMS-VPED-007
3
QR-VPED-007
Rev.01
6
TH
June 2012
PRELIMINARY GRADING PERIOD
Timetable Specific Objectives Subject Matter/Topic
Teaching-Learning/
Strategies
Tools and Aids References
Values
Integration/
Issues
Evaluative
Measures
1
st
Week

Understanding and
appreciation accounting thru
knowing its history, basic
principles and concepts and
accounting as a profession.

Evolution of Accounting
Globalization
Role of Ethics in Business
Forms of Business
Organizations
Fundamental Concepts
Criteria for General
Acceptance of an
Accounting Principle
Basic Principles
Code of Ethics for
Professional Accountants
in the Philippines
The Accountancy
Profession
Branches of Accounting

Lectures, Group Discussions

Use of White board for
discussion, Handouts, Internet
and prescribed textbook

Basic Accounting, Win
Ballada, Copyright 2012
17
th
Edition
Pages 1-1 up to 1-49

- Christ Centered
Discipline
- Truthfullness
- Fairness
- Honesty
-Teamwork
- Persistence
- Proper work
ethic

Recitations,
Exercises
2
nd
Week





Know the International
Accounting Standards and
the New International
Financial Reporting
Standards Framework
Introduction to IASB
Structure
IASBs Conceptual
Framework for Financial
Reporting 2010
Objective of General
Purpose Financial
Reporting
Qualitative Characteristics
of Useful Financial
Information
Underlying Assumption
Elements of Financial
Statements
Measurement of Elements
of Financial Statements
Concepts of Capital and
Capital Maintenance

Lectures, Group Discussions

Use of White board for
discussion, Handouts, Internet
and prescribed textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 2-1 up to 2-23

Recitations,
Seatworks
3rd Week

Be able to identify and
understand the accounting
equation and the normal
balances of every accounts.

Parts of Information
System
Accounting Information
System

Lectures, Exercises


Use of White board for
discussion, Handouts, Internet
and prescribed textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 3-1 to 3-28

Seatworks,
Assignments




IMS-VPED-007
4
QR-VPED-007
Rev.01
6
TH
June 2012
Stages of Data Processing
Elements of Financial
Statements
The Account
The Accounting Equation
The Double Entry System
Normal Balance of an
Account
Accounting Events and
Transactions
Types and Effects of
Transactions
Typical Account Titles
Used

4
th
Week

To be able to record business
transactions in a journal and
post to the ledger.

Transaction Analysis
Transactions are
Journalized
The Ledger
Chart of Accounts
Posting


Lectures, Class
Discussions, Problem
Solving Activities

Use of White board for
discussion, Handouts, Internet
and prescribed textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 4-1 to 4-20

Assignments
Quizzes

5
th
Week


To be able to make a trial
balance after posting and
locate errors.

Ledger Accounts After
Posting
Trial Balance
Locating Errors


Lectures, Class
Discussions, Problem
Solving Activities

Use of White board for
discussion, Handouts, Internet
and prescribed textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 4-1 to 4-20

Assignments
Quizzes
6
th
Week

PRELIMINARY EXAMINATION














IMS-VPED-007
5
QR-VPED-007
Rev.01
6
TH
June 2012


MIDTERM GRADING PERIOD

Timetable Specific Objectives Subject Matter/Topic
Teaching-Learning/
Strategies
Tools and Aids References
Values
Integration/
Issues
Evaluative
Measures
7
th
Week



Identify and analyze
accounts that needs to be
adjusted for deferrals and
accruals and the
accounting concepts
behind adjusting account
balances to be able to
present fairly the financial
statements.

Accrual Basis
Periodicity Concept
Revenue and Expense
Recognition Principles
Need for Adjustments
Adjustment for Deferrals
Adjustment for Accruals

Lectures, Class
Discussions, Problem
Solving Activities
Use of White board for
discussion, Handouts,
Internet and prescribed
textbook

Basic Accounting, Win
Ballada, Copyright
2012
Pages 5-1 to 5-22
- Christ Centered
Discipline
- Truthfullness
- Fairness
- Honesty
-Teamwork
- Persistence
- Proper work
ethic
Seatworks,
Assignments,
Quizzes

8
th
Week



To be able to prepare
worksheets and financial
Statements.
The Worksheet
Preparing the worksheet
Essence of Financial
Statements
Complete set of
Financial Statements
Preparing the Financial
Statements
Relationships among the
Financial Statements
Lectures, Class
Discussions, Problem
Solving Activities

Use of White board for
discussion, Handouts,
Internet and prescribed
textbook
Basic Accounting, Win
Ballada, Copyright
2012
Pages 6-1 to 6-17
Oral Reports/
Presentation
Recitations
Quizzes
9
th
Week

To be able to complete the
accounting cycle.

Adjustmens are
Journalized and Posted
Closing Entries are
Journalized and Posted
Preparation of a Post-
Closing Trial Balance
Reversing Entries


Lectures, Discussions

Use of White board for
discussion, Handouts,
Internet and prescribed
textbook


Basic Accounting, Win
Ballada, Copyright
2012
Pages 7-1 to 7-8

Seatworks,
Assignments,
Quizzes


10
th
Week
Understanding and to be
able to identify different
transactions of a
merchandising business,
Operating Cyle of a
Merchandising Business
Steps in a Purchase
Transaction
Lectures, Discussions and
Activities

Use of White board for
discussion, Handouts,
Internet and prescribed
textbook
Basic Accounting, Win
Ballada, Copyright
2012
Pages 8-1 to 8-26

Seatworks,
Assignments,
Quizzes



IMS-VPED-007
6
QR-VPED-007
Rev.01
6
TH
June 2012
and how to record its
transactions.

Terms of Transactions
Inventory Systems
Net Sales
Cost of Sales
Value Added Tax Entries
Operating Expenses


11
th
Week
Understand and be able to
complete the accounting
for a merchandising
business
Need for a Physical
Count
Merchandise Inventory
at the end of the period
Preparing the Worksheet
Preparing the Financial
Statements
Adjusting and Closing
Entries
Post- Closing Trial
Balanc
Lectures, Discussions and
Activities
Use of White board for
discussion, Handouts,
Internet and prescribed
textbook

Basic Accounting, Win
Ballada, Copyright
2012
Pages 9-1 to 9-13

Seatworks,
Assignments,
Quizzes

12
th
Week

MIDTERM EXAMINATION




















IMS-VPED-007
7
QR-VPED-007
Rev.01
6
TH
June 2012



FINAL GRADING PERIOD

Timetable Specific Objectives Subject Matter/Topic
Teaching-Learning/
Strategies
Tools and Aids References
Values
Integration/
Issues
Evaluative
Measures

13
th
Week

Learn and identify
transactions to be
recorded in special
journals, and learn the
voucher system.
Control Accounts and
Subsidiary Ledgers
Special Journals
General Journal
Proving the Ledgers
Flexibility of Special-
Purpose Journals
Voucher System
Special Problems in
Voucher System
Lectures, Discussions and
Activities
Use of White board for
discussion, Handouts,
Internet and prescribed
textbook
Basic Accounting, Win
Ballada, Copyright 2012
Pages 10-1 to 10-20
- Christ Centered
Discipline
- Truthfullness
- Fairness
- Honesty
-Teamwork
- Persistence
- Proper work
ethic
Seatworks,
Assignments,
Quizzes

14
th
Week


Understanding and to be
able to identify different
transactions of a
merchandising business,
and how to record its
transactions.

Elements of
Manufacturing Costs
Manufacturing Inventory
Accounts
Accounting for
Manufacturing Activities
Statement of Cost of
Goods Manufactured
Statement of Cost of
Goods Sold

Lectures, Discussions and
Activities

Use of White board for
discussion, Handouts,
Internet and prescribed
textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 11-1 to 11-9

Seatworks
Assignments
Quizzes

15
th
Week
Be able to know the
principles and importance
of internal control. Be able
to understand and
appreciate controls over
cash.
Internal Control
Cash

Lectures, Discussions,
Group and Individual
Activities
Use of White board for
discussion, Handouts,
Internet and prescribed
textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 12-1 to 12-14

Quizzes
Recitations
Seatworks
16
th
Week
Know and appreciate the
accounts and notes
receivable, its nature,
valuation and
classification. Understand
Accounts Receivable
Notes Receivable
Inventory
Property and Equipment

Lectures, Discussions,
Group and Individual
activities
Use of White board for
discussion, Handouts,
Internet and prescribed
textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 13-1 to 14-12
Recitations
Quizzes
Written
Reports



IMS-VPED-007
8
QR-VPED-007
Rev.01
6
TH
June 2012
the Inventory account and
Property and equipment,
their nature,
measurement, cost and
classification.
17
th
Week

Learn and be able to
prepare and account for
payroll, compute for the
mandatory contributions
and withholding taxes.

Payroll
Payroll Entries
Remittances
Internal Control over
Payroll

Lectures, Discussions and
Activities
Use of White board for
discussion, Handouts,
Internet and prescribed
textbook

Basic Accounting, Win
Ballada, Copyright 2012
Pages 15-1 to 15-11

Quizzes
Seatworks
Assignments
18
th
Week

FINAL EXAMINATION






POLICIES



1. All students are expected to attend classes regularly and to complete the academic work of the subject.
2. Latecomers are allowed, five minutes after the class time.
3. Class Participation and Discussion are graded
4. Cheating is not allowed wherein standard WCC or CHED policy will be applied.
5. Missed Quizzes are equivalent to a failing grade.
6. Missed Major Exams are per standard WCC policy.

TEXTBOOKS AND REFERENCES

1. Basic Accounting, Win Ballada, 2012 Issue-17
th
Edition
GRADING SYSTEM
As per AVPEd Memo 15 S 2010
New Grading System: The grading system of the college is averaging, using numerical or percentage system which ranges from 65 (lowest
mark) to 100 (MPRS Sec. 80). The final grades must be in whole numbers. The transmutation system of 0 is 50% for periodical exams,
quizzes and periodic grades shall be retained. If in case a student got a final grade lower than 65%, he/she shall automatically be given 65%
as his/her final grade. For the class standing grade, the teacher has the prerogative to assign weights to the class standing components which
includes recitation, oral reports, assignments, seat works, and term papers.

PRELIMINARY GRADE = Average of Quizzes + Class Standing + Preliminary Exam
3
MIDTERM GRADE = Average of Quizzes + Class Standing + Midterm Exam
3
FINAL GRADE = Average of Quizzes + Class Standing + Final Exam
3