College of Dentistry

VISION In pursuit of perfection, the University of Baguio is committed to provide balanced quality education by nurturing academic excellence, relevant social skills and ethical values in a fun-learning environment

MISSION The University of Baguio educates individuals to be empowered professionals in a global community.

INSTITUTIONAL GOALS The University of Baguio aims to produce a graduate who:

1. exemplifies a higher standard of learning; 2. manifest the mastery of relevant skills; 3. upholds a conduct that is rightful and just; 4. undertakes scientific and significant researches; 5. advocates sustainable programs for the community and the environment; and 6. leads and demonstrates exemplary performance in the field of specialization.

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 1 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 School of Business Administration and Accountancy

MISSION The School of Business Administration and Accountancy edifies competitive and morally upright individuals.

OBJECTIVES

The School of Business Administration and Accountancy, in an exuberant learning climate, aims to nurture a business graduate who:

1. cultivates the knowledge, that is imperative for career success in a globalized setting; 2. demonstrates relevant skills; 3. utilizes macro-environmental acumen for economic growth and development; 4. typifies professional integrity with humility; 5. undertakes researches to promote systematic bases for business decisions; and 6. models exemplary performance in business.

School Objectives UNIVERSITY GOALS 1 2 3 4 5 6 P1. Cultivates the knowledge that is imperative for career success in a globalized setting. √ P2. Demonstrates relevant skills. √ P3. Utilizes macro-environmental acumen for economic growth and development. √ P4. typifies professional integrity with humility. √ P5. undertakes researches to promote systematic bases for business decisions. √ P6. models exemplary performance in business √

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 2 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 2. Program Outcomes and Relationship to School Objectives

SCHOOL/ PROGRAM Program Outcomes OBJECTIVES S1 S2 S3 S4 S5 S6 O1. Students graduate to become professionals imbued with high moral/ ethical standards. √ √ √ √ √ √ O2. Graduates are highly competitive with their acquired knowledge, skills and values in the practice of their profession. √ √ √ √ O3. Graduates are confident of their academic and industry preparations and the entry competencies learned to tackle the rigors √ √ √ √ of the business world. O4. Students can carry out researches that can be utilized in the community and in the business profession. √ O5. Students recognize their responsibility and accountability as professionals and as workers in the community. √ √ √ O6. Students become aware of and strive for their physical, mental and spiritual well-being. √ O7. Students are prepared to meet the needs and demands of global employment without losing the Filipino spirit. √ √ √ √ O8. Students become aware of their responsibility to the environment and participate actively in environmental programs. √ √ √ √

3. Course Objectives and Relationship to Program Outcomes

PROGRAM OUTCOMES Course Objectives O1 O2 O3 O4 O5 O6 O7 O8 COGNITIVE DOMAIN C1. know the concepts relating to accounting for Business Combinations; √ √ √ √ √ √ √ √ C2. integrate and apply the generally accepted accounting principles to problem situations involving financial √ √ √ √ √ √ √ √ statements that are likely encountered in practice; C3. learn the basic processes that happen in the accounting systems for Business Combinations; √ √ √ √ √ √ √ √ C4. integrate the application of the topics learned to situations most likely to be encountered in everyday life; √ √ √ √ √ √ √ √ C5. develop a system for higher learning designed specifically in preparation for the CPA Licensure √ √ √ √ √ √ √ √ Examinations. AFFECTIVE DOMAIN C6. develop the value of honesty, objectivity and perseverance. √ √ √ √ √ √ √ √ C7. realize the contributions of accounting standards or GAAP to the development of a more socially √ √ √ √ √ √ √ √

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 3 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 responsible and morally upright professional accountant. C8. integrate the values of honesty and integrity in the preparation of financial reports for Business √ √ √ √ √ √ √ √ Combinations; C9. apply the qualities of neatness, accuracy, timeliness, and compliance with requirements in the preparation √ √ √ √ √ √ √ √ and submission of reports. PSYCHOMOTOR DOMAIN C10. apply the skills in the preparation of financial reports for Business Combinations; √ √ √ √ √ √ √ √ C11. apply the skills in systematic problem solving. √ √ √ √ √ √ √ √ C12. solve accounting problems within the minimum speed required in the CPA Licensure Examinations; √ √ √ √ √ √ √ √ C13. apply concepts and procedures of advanced accounting in meeting the requirement of the course such as √ √ √ √ √ √ √ √ quizzes, group work, case studies, and other problem solving activities.

4. Pre-requisite ACCTGN 7 Advanced Financial Accounting, Part 2;

5. Co-requisite

6. Course Description The course comprehensively explains and illustrates the conceptual foundation and rationale that underlie the application and procedures in accounting for entities with Specialized Transactions, and other advance accounting issues. The course aims to organize the concepts and procedures in ways that focus on student motivation and understanding. The course is designed to equip the students with knowledge and technical skills needed for the CPA Licensure Examinations, as well as for their future jobs.

7. Course Coverage

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 4 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 Learning Contents/ Topic No. School Objectives Program Outcomes Activity and Evaluatio of P P P P P P O O O O O O O O Learning n Hrs. 1 2 3 4 5 6 1 2 3 4 5 6 7 8 Approach Course Syllabus 1 √ √ √ √ √ √ √ √ √ √ √ √ √ Orientation VMO Internalize the Seat Plan VMO Leveling of Expectations Arrange students Requirements and Grading system I. Partnership 22 √ √ √ √ √ √ √ √ √ √ √ √ √ √ Lecture- Quiz,  Formation and Operations discussion, Assignment  Nature, definition, characteristics Board exercises, s,  Formation Recitations, Research,  Operation Group Activity Case  Financial statement preparation Analysis  Partnership Dissolution  Admission of new partner  Retirement or withdrawal of a partner  Death, incapacity, bankruptcy of a partner  Incorporation of a partnership  Partnership Liquidation  Dissolution with liquidation  Liquidation types- lump sum and installment

 Procedures in liquidation  Journal entries and preparation of statement of liquidation

PRELIMINARY EXAMINATION 2

II. Joint Venture and Associated Enterprises 8 √ √ √ √ √ √ √ √ √ √ √ √ √ Lecture- Quiz,

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 5 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 Learning Contents/ Topic No. School Objectives Program Outcomes Activity and Evaluatio of P P P P P P O O O O O O O O Learning n Hrs. 1 2 3 4 5 6 1 2 3 4 5 6 7 8 Approach  Nature, forms and structure discussion, Assignment  Journal entries and report preparation Board exercises, s, Recitations, Research, Group Activity Case Analysis

FIRST GRADING EXAMINATION 3

III. Accounting for Branches and Agencies 16 √ √ √ √ √ √ √ √ √ √ √ √ √ √ Lecture- Quiz,  Nature and definition of agency/branch discussion, Assignment  Accounting for agencies and branches Board exercises, s,  Preparation of combined statements Recitations, Research,  Reconciliation of reciprocal accounts Group Activity Case  Special problems in branch accounting: Analysis  Inter-branch cash & merchandise transfers  Shipments/returns of merchandise above cost

IV. Accounting for Business Combinations 15 √ √ √ √ √ √ √ √ √ √ √ √ √ √ Lecture- Quiz,  Definition of terms related to business discussion, Assignment combinations Board exercises, s,  Reasons for business combinations Recitations, Research,  Stock distribution/allocation (single and two Group Activity Case classes of stock) Analysis  Methods of accounting for business combinations (purchase and pooling of interests)  Preparation of financial statements after business combination

MIDTERM EXAMINATION 3

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 6 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 Learning Contents/ Topic No. School Objectives Program Outcomes Activity and Evaluatio of P P P P P P O O O O O O O O Learning n Hrs. 1 2 3 4 5 6 1 2 3 4 5 6 7 8 Approach

V. Consolidated Financial Statements 27 √ √ √ √ √ √ √ √ √ √ √ √ √ √ Lecture- Quiz,  Definition of terms related to acquisitions discussion, Assignment  Basic concepts/approaches /procedures in Board exercises, s, preparing consolidated financial statements Recitations, Research,  Consolidated balance sheet at date of acquisition Group Activity Case (Purchase and Pooling) Analysis  Consolidated financial statements subsequent to date of acquisition -  Cost and equity methods  Determination of equity in subsidiary income, investment balance, minority interest, minority interest net income and consolidated net income  Elimination and consolidation procedures applied on working papers for consolidated statements  Preparation of consolidated statements VI. Comprehensive Problems in Business 8 √ √ √ √ √ √ √ √ √ √ √ √ √ √ Lecture- Quiz, Combinations discussion, Assignment Board exercises, s, Recitations, Research, Group Activity Case Analysis FINAL EXAMINATION 3

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 7 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 Grading System:

For Professional Board Examination Subjects: the cut-off score is 70%. The highest possible grade is ninety-nine (99); the lowest passing grade is seventy-five (75); and the lowest failing grade is sixty-five (65).

First grading Class standing = 70 % ; Exam = 30 % Midterms Class standing = 60 % ; Exam = 40 % ( Tentative Midterm Grade x 2 + First Grading ) / 3 = Midterm Grade Finals Class standing = 50 % ; Exam = 50 % ( Tentative Final Grade x 2 + Midterm Grade ) / 3 = Final grade

Textbook:

Guerrero, P. and Peralta, J. Advanced Accounting, A Procedural Approach, Vol. 1 and 2, 2006.

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 8 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011 References:

Anthony, Robert N. Accounting: text and cases. Boston: McGraw, 657 An628 2004 Baker, Richard E. Advanced Financial Accounting. New York: McGraw, 657 B168 2005 Commission on Audit, Manual on the New Government Accounting System for National Government Agencies, Vol. I, II and III. 2002. Hoyle-Schaefer-Doupnik. Fundamentals of Advanced Accounting, 6e. Boston: McGraw, 657.046 H868 2004 Larson, E. John. Modern Advanced Accounting, 9e. Irwin/McGraw-Hill, New York, NY, 657.046 L334 2003 Mejorada, Nenita A. Advanced Accounting. Manila: Goodwill, 2005. Vicente, Ma. Violeta V. Advanced Accounting, Vol. 1 and 2. Philippine Graphic Arts, Inc., Caloocan City. 2005.

http://accounting.swlearning.com http://stice.swlearning.com www.iasplus.com http://www.numa.com/ www.mhhe.com

Syllabus Evaluation Committee:

RHAD VIC F. ESTOQUE, CPA, MBA DR. KAREEN B. LEON, CPA Program Chair Dean, School of Business Administration and Accountancy

Course Title: Description: Effectivity: Date Revised Prepared by: Approved by: Page 9 of 9 ACCTGN7(6u) Advanced Financial Accounting and First Semester, June 10, 2012 John V. Balanquit, CPA Dr. Kareen B. Leon, CPA Reporting II SY 2010-2011