Course description:

This course deals with specialized problems likely to be encountered by accountants. The study of the various topics in this course is based upon fundamental valuation accounting and accounting theory as applied to special income and expense recognition methods and expanded business operations. This course includes specialized problems in partnership accounting; accounting for joint ventures and associated enterprises; accounting for consignment sales; accounting for domestic branches; accounting for installment sales; accounting for long term construction contracts; accounting for franchise; insurance accounting; and accounting for build, operate, and transfer contracts.

Course Objectives:

At the end of the course, the student should be able to:

Cognitive

1. Distinguish the kind and nature of the transactions occuring under each specialized accounting problem.

2. Explain the accounting concepts, methods, and procedures for the treatment of transactions that would apply to each specialized accounting problem;

3. Apply these concepts, methods, and procedures in analyzing and in giving solution to specific accounting problem.

Psychomotor

1. Apply the skills and knowledge learned to collect, process, and report information from accounting transactions and to analyze and provide solutions to specialized accounting problems.

2. Operate accounting equipment such as calculator and computer deemed appropriate to the subject matter taken up;

3. Prepare accounting reports required and appropriate for certain transactions or operations.

Affective

1. Appreciate the values of honesty, objectivity, and perseverance in the preparation of reports;

2. Apply the qualities of neatness, accuracy, timeliness, and compliance with requirements in the preparation and submission of reports.

Grading system:

                                           Pre-lims            Finals              

Quizzes                                  20                    25                  

Departmental exam                 20                    25                  

Attendance, assignment,rectn    5                     5                  

Total                                       45                    55       =             100