Lyceum of the Philippines University

Cavite Campus
College of Business Administration
Effective First Semester AY 2017 - 2018

SYLLAB U S

Subject Code : ACCL15B

Subject Title : Advanced Accounting 1 & 2
No. of. Units : Three (3) units
Lecture/Lab hours : Three (3) hours weekly
Pre-requisite : ACCL04B

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. Advance and preserve knowledge by undertaking research and disseminating and utilizing 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
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 the
academic community – INSTRUCTIONAL AND 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 course, the students should be expected to:

Competencies Learning Goals

1. Communication
2. Information Retrieval & Evaluation
3. Proactive and Spiritual Values
4. Teamwork and Leadership
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.

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5. Creative and Analytical Thinking Showed the ability to think creatively by solving accounting problems that requires
analytical and innovative skills
6. Computer Literacy Gain knowledge in computer applications and use these knowledge in improving
productivity specially in the context of computerized accounting system

7. Entrepreneurial 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.

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 the workplace. The academic programs of the College of Business Administration is 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
4. Training the students to become creative and analytical thinkers

Program Objectives
1. Complete understanding of the concepts, principles and theories of management accounting.
2. To develop and maintain an attitude of learning to learn to adapt to change
3. Prepare the students to pursue a teaching career or graduate studies in business.

Program Outcomes
Upon completion of the program, graduates of a BSBA program should be able to:
1. Convey ideas clearly both oral and written in English.
2. Prepare, analyze and evaluate reports, proposals and concept papers.
3. Demonstrate the value of fairness, transparency, accountability, hard work, honesty, patience, diligence, innovativeness and risk
taking.
4. Apply the principles of the different forms of communication.
5. Develop the ability to access, retrieve and disseminate information using IT.
6. Perform quality work.
7. Understand the concepts and principles of good interpersonal relations.
8. Develop a wholesome personality
9. Participate actively in business associations and comply with their policies and obligations.
10. Demonstrate leadership qualities, civic-mindedness and responsible citizenship.

Course Description:
This course involves the study of specialized accounting problems involving partnership accounting, accounting for joint venture and
associated enterprise, home office and brand accounting, accounting for installment sales, accounting for long term construction contracts,
fire insurance accounting, home office and branch, consolidation and mergers, parent subsidiary relationships and consolidates
statements, including foreign subsidiaries. and other special issues such as build-operate transfer and similar schemes.

Learning Objectives:
1. Affective
1.1 Develop the students' creativity and analytical skills in solving practical accounting problems.
1.2 Inculcate in the minds of the students the positive values of perseverance and optimism despite of the difficulty they will encounter in
solving practical accounting problems.
2. Cognitive
2.1 Recall stock knowledge in partnership accounting specially in concepts and principles.

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2.2 Demonstrate comprehension of accounting principles and procedures applicable to specialized accounting problems.
3. Psychomotor
3.1 Apply accounting principles and procedures in solving problems in partnership dissolution and liquidation.
3.2 Showed understanding of the accounting principles and procedures by solving problems involving joint venture, installment sales,
long-term construction contracts, home office and branch and fire insurance.

Course Outline:

Learning Objectives Subject Matter No. of hours/

Week
Relate the VMO of LPU- CAS Introduction to the Course 1
to the course  Introduction of oneself (1.5 hrs.)
 Review of University and College VMO
Inform the students on the rules as applied to the course
and regulations, expectations and  Overview of the course
course requirements.  Discussion of requirements and class
policies
Internalize the mission and  Expectations setting
vision of the university

For the students to be familiar • Research principles 1

with the principles and basic • Community Service (1.5 hrs)
applications of research.

To introduce to the students the

concepts of community service.
Recall stock knowledge in
accounting principles and
procedures in accounting for
partnership form of business
Solve problems involving
partnership dissolution specially 2. Partnership Dissolution
admittance of a new partner
Solve problems involving
partnership liquidation.
Apply principles in solving
problems involving joint
venture.
Apply principles and
procedures in solving
accounting problems
involving consignment sales
transactions.
Apply accounting principles
and procedures in solving
problems in installment sales
1. Partnership
• Nature, definition and 2&3
characteristics of partnership
• Formation of a partnership 6 hrs
• Partnership operations – division of
profits
• Dissolution by admittance of new
partner
• Dissolution by retirement & death
of partner or by incorporation of the
partnership
3. Partnership Liquidation
• Lump sum liquidation
• Installment liquidation
4. Accounting for Joint Venture 4
• Basic concepts of joint venture 3 hrs
• Recording joint venture
transactions
•
PRELIMINARY EXAM 1.5 hrs
Subtotal hours 13.5 hrs
5. Consignment Sales 5
• Basic concepts and procedures 3 hrs,
• Accounting for consignment
sales
6 Installment Sales
• Basic concepts and procedures
• Accounting for long term
installment sales
• Calculation of realized gross
profit on installment sales
• Financial statement presentation
with allocation of costs

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 Accounting for repossession
Solve problems concerning 7 Accounting for Long-Term
long term construction Construction Contracts 6&7
contracts • Basic concepts and procedures
• Percentage of completion 3 hrs
method and cost recovery
method.
• Journal entries and statements
presentation
8. Franchise Accounting
• Accounting for initial franchise
fee and related costs
Create solutions for 9. Accounting for Home office and 7&8
problems involving home Branch
office and branch accounting • Accounting for agencies and 6 hrs
branches
• Preparation of combined
financial statements
• Reconciliation of reciprocal
accounts
• Special problems in branch
accounting
MIDTERM EXAM 1.5 hrs
Subtotal 13.5 hrs
Accounting for Fire Insurance
• Types of insurance policies 10
• Computation of insurance
receivables 1.5 hrs
• Accounting for fire loss
Create solutions for 9. Accounting for Home office and 10 & 11
problems involving home Branch
office and branch accounting • Accounting for agencies and 4.5 hrs
branches
• Preparation of combined
financial statements
• Reconciliation of reciprocal
accounts
• Special problems in branch
accounting
At the end of the course the 10 Business Combination 12, 13 & 14
students could be able to: • Accounting for Business
Combinations – Principles and 7.5 hrs
1. Understand and Procedures
apply accounting • Recording Business
principles and Combinations
procedures • Combination by Purchase
involving business • Combination by Pooling of
combinations Interest
2. Record business 1. Consolidated Financial
combinations Statements
2. Apply accounting 2.1 Consolidation through stock
procedures acquisition
concerning business 2.2 Consolidated Balance Sheet
combination by at Date of Acquisition
pooling of interest 2. Consolidated Balance Sheet

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 3. Prepare account for after Date of Acquisition
business
consolidation
through stock
acquisition
4. Prepare consolidated
balance sheet at date
of acquisition
The students could be able 11 Consolidation
to: • Consolidation Under the Equity 14 & 15
1. Account for Method
consolidation under • Consolidation Under the Cost 4.5 hrs
the equity method Method
2. Account for
consolidation under
the cost method
The students could be able to 12.Business Combination (consolidation)
1. Accounting Treatment of the 15 & 16
Apply the accounting Excess of Cost Over Book Value
treatment of the excess of 2. Inter-Company Profits on 4 hrs
cost over book value. Inventories
3. Inter-company Profits on Plant,
Solve problems concerning Property and Equipment
inter-company profits on 4. Consolidations – Changes in
inventories Ownership

Solve problems concerning

inter-company profits on
plant, property and
equipment account for
consolidation through
changes in ownership
The students could be able to 13 Accounting for foreign currency
: transactions and translation of financial 17 & 18
Solve problems concerning statements of foreign entity – foreign
foreign currency transaction subsidiaries. 3 hrs
and translation • Definition, nature of foreign
currency transactions and foreign
currency financial statements
• Journal entries showing gain or loss
on exchange difference.
• Translations methods – temporal,
monetary- non-monetary and current
• translation adjustment treatment.
•
FINAL EXAM 2 hrs
Subtotal hours 27 hrs
Total hours 54 hours

Textbook:
Advanced Accounting Part 1 / Pedro Guerrero.

ACCL15B Page 5 of 7
References:
TITLE AUTHOR ED. C. DATE PUB. CALL NUMBER
Fundamentals of Advanced Joe B. Hoyle 6th 2013 New York, NY. : HF 5636 H69
Accounting McGraw-Hill 2013
Irwin, c2013
Wiley CPA Exam Review 2013 : O'Ray Whittington 39th 2013 Hoboken, NJ: HF 5661 W55
Regulation Wiley & Sons, 2013
c2013
Advanced Accounting Joe B. Hoyle 11th 2013 New York: HF 5635 H691
McGraw-Hill, 2013
c2013
Financial Accounting and McKeith John and 2nd 2013 McGrawHill HF 5635 M35
Reporting Collins Bill Higher 2013
Education,
2013
CPA Examinations: practical Conrado O. Uberita 2014 Manila: GIC
accounting I Enterprises &
Co., c2014

Multimedia References:
www.wiley.com/.../productCd-EHEP000395.html
www.advancedaccounting.ie
www.pearsoned-asia.com/apc/AO2005.pdf
www.brothersoft.com/advanced-accounting-75485.html
www.pinoyexchange.com/forums/showthread.php?t=460428

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
2.1 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 = G1 + G2 + G3
3

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
FG = Final Grade

ACCL15B Page 6 of 7
 Prepared and Updated by: Validated by: Endorsed by: Approved by:

Luis Llarena III

Faculty Member
Reynaldo C. San Mateo Dr. Ramon C. Maniago
Industry Advisory Dean/Associate Dean VPAA/Executive Dean
Melita Soriano Board
Chairperson/Coordinator

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