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    Dr. Gloria D. Lacson Foundation Colleges, Inc

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    Ma. Liza Magat
    1) The document outlines the syllabus for the Financial Accounting & Reporting course, including course objectives, topics, and assessment methods. 2) Over 18 weeks, students will learn about financial reporting regulations and standards, accounting theories, and how to prepare financial statements and apply specific accounting standards. 3) Assessment includes quizzes, exams, reports and case studies to develop students' accounting knowledge and skills and prepare them to solve practical financial reporting issues.

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    Dr. Gloria D. Lacson Foundation Colleges, Inc

    Uploaded by

    Ma. Liza Magat
    77 views5 pages
    1) The document outlines the syllabus for the Financial Accounting & Reporting course, including course objectives, topics, and assessment methods. 2) Over 18 weeks, students will learn about financial reporting regulations and standards, accounting theories, and how to prepare financial statements and apply specific accounting standards. 3) Assessment includes quizzes, exams, reports and case studies to develop students' accounting knowledge and skills and prepare them to solve practical financial reporting issues.

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    1) The document outlines the syllabus for the Financial Accounting & Reporting course, including course objectives, topics, and assessment methods. 2) Over 18 weeks, students will learn about financial reporting regulations and standards, accounting theories, and how to prepare financial statements and apply specific accounting standards. 3) Assessment includes quizzes, exams, reports and case studies to develop students' accounting knowledge and skills and prepare them to solve practical financial reporting issues.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    77 views5 pages

    Dr. Gloria D. Lacson Foundation Colleges, Inc

    Uploaded by

    Ma. Liza Magat
    1) The document outlines the syllabus for the Financial Accounting & Reporting course, including course objectives, topics, and assessment methods. 2) Over 18 weeks, students will learn about financial reporting regulations and standards, accounting theories, and how to prepare financial statements and apply specific accounting standards. 3) Assessment includes quizzes, exams, reports and case studies to develop students' accounting knowledge and skills and prepare them to solve practical financial reporting issues.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    DR. GLORIA D. LACSON FOUNDATION COLLEGES, INC.

    Castellano, San Leonardo, Nueva Ecija


    Tel No. ( 044 ) 486 – 2919 / Fax (044) 486-29-18

    OUTCOMES – BASED ACCOUNTANCY COURSE SYLLABUS

    COLLEGE OF ACCOUNTANCY

    AE13 - FINANCIAL ACCOUNTING & REPORTING

    First Semester, SY 2018 – 2019

    I. PRELIMINARIES

    A. College

    Vision: The College of Accountancy will continue to be a department of excellence with a strong focus on its civic-based
    identity and academic distinction with a dedicated and caring faculty who value above their students care & support.

    Mission: The College of Accountancy extends its generosity & altruism to all aspiring students who are determined to become
    an ACCOUNTANT and later will pass the Board Exam for CPA in the near future through the nurturing & support afforded
    to them.

    Goals: 1. To train future accountant in business, private and government who can be relied upon in their chosen endeavor;

    2. To promote and disseminate practical knowhow in the field of accountancy and allied fields through training,
    production and networking services. 

    B. Course Title: AE13 – FINANCIAL ACOUNTING & REPORTING


    3 units
    II. COURSE DESCRIPTION
    This course provides an in depth study of the regulation, concepts, standards and processes relevant to financial accounting and reporting. It
    covers topics on accounting and its environment, the conceptual framework for financial accounting generally accepted principles, the
    regulation, measurement, and statement presentation of asset items in the balance sheet. The unit develops graduate capabilities associated
    with discipline specific knowledge, technical skills and professional judgement, and their application to solving practical financial reporting
    issues, and with effective business communication skills for accountants.
    III. COURSE OBJECTIVES

    1. To introduce and understand accounting and used for decision making.


    2. To comprehend the fundamentals in order to develop the necessary technical and bookkeeping skills.
    3. To able to develop a strong yet flexible business background that will allow coping up with the challenges of economic models.

    IV. COURSE CONTENTS


    Week Require Intended Graduate
    d Topic Outline Intended Teaching Students Attributes
    Number Learning Learning Assessment (in support of the
    of Hours Outcomes Strategies/ Modalities overall institutional
    Methodology outcomes)
    PRELIM
    1-6 The student 1. Lecture 1.Quizzes Demonstrate
    The Financial Reporting Environment must be able 2. Class 2.Recitation accounting prowess
    to show discussion 3.Exam by solving questions
     Describe the regulatory environment for financial 3. Report / 4.Reports
    accounting correctly & can
    reporting and the reasons for accounting and Chart
    reporting requirements
    skills & prepare a financial
    4. Practice set
     Discuss the main types of business entity and analysis.  reports.
    explain the reasons for selecting each structure.
     Identify different types of accounting regulation,
    including laws, Generally Accepted Accounting
    Principles and International Financial Reporting
    Standards.
     Explain how the requirements from users,
    together with social and environmental
    developments, impact the underlying principles
    and requirements of financial reporting and the
    desire to establish a single set of international
    accounting standards.
     Describe the role of the International Accounting
    Standards Board in developing a regulatory
    framework and explain how new policies and
    standards are established.
     Identify the purpose of a conceptual framework
    and the key characteristics in the Generally
    Accepted Accounting Principles (GAAP) and
    apply the knowledge to define and recognize the
    different elements of the financial statements.
     Describe and demonstrate the role of accounting
    standards and accounting policies in fairly
    presenting the financial performance and financial
    position of an entity.

    The Accounting Theory


     Compare historical cost accounting with other
    methods of valuation and explain the differences.
     Explain agency and contracting theories and how
    they relate to accounting policy choice (positive
    accounting theory).
     Apply the recognition criteria for the elements of
    the financial statements according to the
    conceptual framework (normative theory).
    MIDTERM
    7-12 Financial Statements
     Prepare and present the statement of profit or loss
    and other comprehensive income with appropriate
    disclosure in accordance with relevant accounting
    standards and policies.
     Prepare and present the statement of financial
    position with appropriate disclosure in accordance
    with relevant accounting standards and policies.
     Prepare and present the statement of cash flows in
    accordance with relevant accounting standards
    and policies.
     Demonstrate the ability to detect, investigate and
    correct discrepancies or particular items/events
    while matching the financial statements to
    supporting documentation.

    Application of Specific Accounting Standards


     Calculate the carrying amounts of different classes
    of intangible assets and prepare the relevant
    journal entries.
     Interpret contracts to determine the amount and
    timing of revenue to be recognised in the financial
    statements and reconcile the differences between
    ledgers if necessary.
     Calculate current and deferred income tax and
    prepare the relevant journal entries to record the
    tax effect in the financial statements.
     Calculate and account for foreign currency
    transactions at transaction date and subsequent
    dates
     Translate financial statements from a functional
    currency to a presentation currency

    FINALS
    12-18 Business Combinations
     Discuss the accounting issues for various forms of
    business combinations.
     Explain how goodwill is measured and disclosed
    at the date of acquisition and prepare the relevant
    journal entries.
     Explain how goodwill is measured and impaired
    subsequent to acquisition and prepare the relevant
    journal entries
     Discuss the concept of control and calculate the
    non-controlling interest share of equity.
     Prepare consolidated statements of financial
    position, including the entries for goodwill and
    non-controlling interests

    Analysis of Financial Statements


     Calculate, analyze and interpret financial ratios
    and their interrelationship in the financial
    statements.
     Explain the limitations of financial statement
    analysis.
    Recommended Text and Readings:
    FINANCIAL ACCOUNTING AND REPORTING STUDY GUIDE 7TH EDITION

    Recommending Approval: Prepared by:

    CEZARIO G. TAN, CPA Renzi Joyce G. Calma


    OIC-DEAN INSTRUCTOR

    Approved:

    DR. LEONARDO L. NAVARRO


    Vice President for Academic Affairs

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