RC Al-Khwarizmi International College Foundation, Inc.

DEPARTMENT OF ACCOUNTANCY
Basak Malutlut, Marawi City

COURSE SYLLABUS IN ACC 143 (ACCOUNTING FOR BUSINESS COMBINATION)

Course Code ACC 142

Course Name Accounting for Business Combination
Course Credits 3 units
Course Description This course is a continuation of Accounting for Special Transactions. It deals mainly with consolidation and mergers, parent-subsidiary relationships, and
consolidated statements including intercompany transactions among subsidiaries. The other topics deal with accounting for the effects of changes in foreign
exchange rates and other similar current issues.
Contact hours/week 64 hours/16 weeks
Pre-requisite(s) ACC 123 (Intermediate Accounting III)
Mission The mission of Al-Khwarizmi International College is to provide high quality of advance, professional and technical education to the Muslims and other youths in the
Philippines and the ASEAN region serving as catalyst of development in Muslim Communities especially in Autonomous Region in Muslim Mindanao (ARMM)
through the traditional functions of instructions, research, and extension services.
Goals and Objectives The objective of Al-Khwarizmi International College is to implement high standard of higher education in computer and information technology, Accountancy and
Business Management, Science and Engineering and Education in order to contribute to the attainment of lasting peace in Mindanao and the whole world.
Program Outcomes The graduates have the ability to:
1. Articulate and discuss the latest development in the specific field of practice.
2. Effectively communicate orally and in writing using both English and Filipino
3. Work effectively and independently in multi-disciplinary and multi-cultural teams.
4. Act in recognition of professional, social and ethical responsibility
5. Preserve and promote “Filipino historical and cultural heritage”
A graduate of BS in Accountancy should be able to:
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 accountancy 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 to successfully respond to various types of assessments; and (including professional licensure and certifications); and
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant
Course Outcomes 1. Identify the recognition, variation and measurement principles applicable for special accounting problems.
2. Compute for the amounts to be presented on the financial statements as assets, liability, equity, income and expenses arising from special accounting problems.
3. Prepare journal entries for special accounting problems.
4. Support the mission and goals/objectives of the College and the Department.
 5. Develop awareness of the importance of business combination as a way of business survival.
6. Comply with accounting standards pertaining to special accounting problems.
7. Support the work of the Financial Reporting and Standard Council of the Philippine Interpretations Committee in the development of accounting standards and
relevant implementation guidelines.
ALIGNMENT OF COURSE OUTCOMES WITH SUMMATIVE ASSESSMENT TASKS
Course Outcomes and Course Objectives Summative Assessment Tasks Details
Identify the recognition, variation and measurement principles Quiz on the topic and assignments Assess student’s learning about the topic discussed.
applicable for special accounting problems.
Compute for the amounts to be presented on the financial Quiz on the topic and assignments Prepare financial statements.
statements as assets, liability, equity, income and expenses
arising from special accounting problems.
Prepare journal entries for special accounting problems. Quiz on the topic and assignments Prepare journal entries
Support the mission and goals/objectives of the College and submit reflection paper Students to submit reflection paper on their realization.
the Department.
Develop awareness of the importance of business combination Quiz on the topic and assignments Assess student’s learning about the topic discussed.
as a way of business survival.
Comply with accounting standards pertaining to special Quiz on the topic and assignments Assess student’s learning about the topic discussed.
accounting problems.
Support the work of the Financial Reporting and Standard Quiz on the topic and assignments Assess student’s learning about the topic discussed.
Council of the Philippine Interpretations Committee in the
development of accounting standards and relevant
implementation guidelines.

TIME FRAME AND COURSE OUTLINE

Week 1 Mission, goals/objectives and Classroom policies
Week 1-3 Accounting for Business Combinations
Week 4-8 Consolidated Financial Statements
Week 9 PRELIMINARY EXAMINATIONS
Week 10-12 Consolidated Financial Statements - Intercompany Transactions
Week 13-15 Accounting for Foreign Currency Transactions and Translation of Financial Statements of foreign entity subsidiaries
Week 16 FINAL EXAMINATIONS
LEARNING PLAN
Desired Outcomes Course Content/Subject Matter Textbook References Teaching and Learning Assessment tasks for each Time Table
Activities component
 Support the mission and Mission, Goals/objectives and Policies NONE  Lecture/Discussion  Students to submit Week 1 (2 hours)
goals/objectives of the reflection paper on their
college.  Mission and goals/objectives of the  Sharing of expectations realization from the initial
 Explain the subject content college. from the teacher and discussion.
and grading system  Classroom policies and grading system. the students
 Explain the relationship  Discussion of the course syllabus
between and among various
courses and Accounting 143.
 Explain purchase of Interest Accounting for Business Combinations Advanced Accounting,  Lecture/ Discussion  Quiz on the topic Week 1-3 (10 hours)
method of acquisitions A Procedural
 Prepare pre-forma financial  Definition of terms related to business Approach, Volume 2,  Board work  Assignments
statements based on combinations Pedro P. Guerrero and
 Reasons for business combinations  Seatwork
proposed mergers and Jose F. Peralta 2015
consolidations  Stock distribution/allocation Issue, 2015 Edition  Sharing of insights
 Compute the stock  Method of accounting for business
allotment for constituent combinations  Problem-based
companies  Preparation of financial statements discussion
 Prepare journal entries to after business combination
reflect the absorption of
other companies by one
corporation
 Prepare financial statements
based on mergers and
consolidations
 Explain the relevance of Consolidated Financial Statements Advanced Accounting,  Lecture/discussion  Quiz on the topic Week 4-8 (20 hours)
consolidated financial A Procedural
 statements  Definition of terms related to Approach, Volume 2,  Board work  Assignments
 Compute the book value of acquisitions Pedro P. Guerrero and
subsidiary interest acquired Jose F. Peralta 2015  Seatwork
by a parent and the  Basic concepts, approaches, procedures Issue, 2015 Edition
in preparing consolidated financial  Sharing of insights
treatment of any difference
between investment cost statements
 Problem-based
and said book value discussion
 Consolidated balance sheet at date of
 Prepare elimination entries
acquisition
 Prepare working papers for
consolidation of financial  Consolidated financial statements
statements. subsequent to date of acquisition.
 Compute for the
consolidated income and  Preparation of consolidated statements
retained earnings
 Prepare consolidated
financial statements
 Prepare required disclosures
COMPREHENSIVE QUIZ (ALL TOPIC DISCUSSED) Week 9 (2 hours)
PRELIMINARY EXAMINATION (ALL TOPIC DISCUSSED) Week 9 (2 hours)
 Explain terms and nature of Consolidated Financial Statements - Advanced Accounting,  Lecture/discussion  Quiz on the topic Week 10-12 (12 hours)
intercompany transaction Intercompany Transactions A Procedural
(inventories, depreciable Approach, Volume 2,  Board work  Assignments
assets and land) between  Basic concepts, approaches, procedures Pedro P. Guerrero and
in accounting for intercompany  Seatwork
parent and subsidiaries Jose F. Peralta 2015
 Prepare elimination entries transactions between parent and Issue, 2015 Edition  Sharing of insights
 Prepare working papers for subsidiaries.
consolidation of financial  Problem-based
 Effect of Intercompany transactions in
statements. discussion
the Consolidated financial statements
 Compute for the
consolidated income and  Preparation of consolidated financial
retained earnings statements
 Prepare consolidated
financial statements
 Prepare required disclosures
 Explain terms and nature of Accounting for Foreign Currency Advanced Accounting,  Lecture/discussion  Quiz on the topic Week 13-15 (12 hours)
foreign currency Transactions and Translation of Financial A Procedural
 transactions Statements of foreign entity subsidiaries Approach, Volume 2,  Board work  Assignments
 Explain the different types of Pedro P. Guerrero and
foreign currency  Definition and nature of foreign Jose F. Peralta 2015  Seatwork
transactions currency transactions and foreign Issue, 2015 Edition
currency financial statements  Sharing of insights
 Compute the for the
exchange gain or loss to be  Problem-based
 Journal entries showing gain or loss on
recognized discussion
exchange difference
 Explain the nature and types
of derivatives  Translation methods-temporal,
 Explain hedging and hedge monetary, non-monetary and current
accounting
 Prepare entries for various  Translation adjustment treatment
types of derivatives
 Prepare required disclosures
COMPREHENSIVE QUIZ (Consolidated Financial Statements - Intercompany Transactions & Accounting for Foreign Currency Transactions and Translation of Financial
Statements of foreign entity subsidiaries) Week 16 (2 hours)

FINAL EXAMINATION (ALL TOPIC DISCUSSED) Week 16 (2 hours)

Suggested References Practical Accounting 2, Antonio J. Dayag, 2015 Edition

Practical Accounting 2, Pedro P. Guerrero, 2015 Edition

 Practical Accounting 2, Punzalan

Course Requirements None

Grading System Prelim 50% % Grade Description
Major exam 50% 100-96 1.00 Excellent
Quizzes 40% 95-92 1.25
Others 10% 91-88 1.50 Very good
Final 50% 87-85 1.75
Major exam 50% 84-82 2.00 Good
Quizzes 40% 81-79 2.25
Others 10% 78-76 2.50 Satisfactory
TOTAL 100% 75-73 2.75
72-70 3.00 Passing
Below 70 5.00 Failure

Classroom Policies Academic Dishonesty

All students are expected to be academically honest. Cheating, lying and other forms of unethical behavior will not be tolerated. Any student found guilty of
cheating in any assignment, quiz, examination or plagiarism in submitted course requirement will receive a grade of 5.0 or failure in the said requirement.
Absences and Tardiness

Prepared by: Recommending Approval: Approved by:

DR. BENANING OMACA-AN DR. CAMAR A. UMPA

Dean President