This course is the culmination of Financial Accounting cluster. It deals with a comprehensive review of the accounting process and the preparation of financial statements, including the required disclosures. It also covers the reconstruction of accounts from incomplete records, conversion from cash basis to accrual basis of accounting, accounting changes, interim reporting and segment reporting

 

 

1.   To enhance understanding of the accounting process

2.   To learn and appreciate the objective of financial statements

3.   To have sound knowledge and understanding of the principles underlying the preparation and

       presentation of financial statements.

4.   To have sound knowledge and develop proficiency in the preparation of financial statements under

       the single-entry system.

5.   To differentiate cash basis from accrual basis of accounting and learn how to convert cash basis

       financial statements into accrual basis financial statements.

6.   To have a sound knowledge of and develop proficiency in accounting for fundamental errors and

       accounting changes.

7.   To   equip   students     with    values  geared  towards  becoming    socially responsible, morally

      upright, and globally competitive professional accountants

 

 

Textbooks and Other Teaching Materials            : 

1.    Robles, N.S. and Empleo, P.M., Intermediate Accounting, Volume 3, latest edition, JLA Printing: Quezon City, 

       Philippines.

2.    Philippine Accounting Standards and Philippine Financial Reporting Standards issued by ASC/FRSC

3.    International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) issued by IASB

1.  Compilation of assignments, quizzes and seat works

2.  Summary of PAS/PFRS relating to topics covered by the course --- PAS Nos. 1, 7, 8, 14, 18 and 34.

3.  2006 annual report of publicly listed companies

4.  Quizzes, prelim examination and final examination

 

1.  Kieso, D.E. and Weygandt, J.J. Intermediate Accounting, 11^th Edition, John Wiley and Sons, inc., Reprinted in

       the Philippines by Philippine Graphic Arts, Inc.

2. Skouesen, K.F., Stice E. K. And Stice, J. D. (2004), Intermediate Accounting, 15^th Edition, Mutual Books, Inc., 

       Southwestern College Publishing; Ohio.

3.  Spiceland, J. D., Sepe, J. F., Tomassini, L.A. (2001), Intermediate Accounting, 2^nd Edition, McGraw-Hill Book Co.:

       Singapore

4.  Delaney, P.R. (2002), Wiley CPA Examination Review, Volumes 1 and 2, 27^th Edition, John Wiley and Sons, Inc:

       New York.

 

 

The Student’s responsibility is to come to each class prepared. She is also expected to take all examinations on the dates scheduled. She should read the assigned materials and solve assigned problem materials prior to class. She is expected to attend each class and participate actively in the discussions.

 

 

 

All BSA students are expected to be academically honest. Cheating, Lying and other forms of immoral and unethical behaviour will not be tolerated. Any student found guilty of cheating in examinations or plagiarism in submitted course requirements will (at a minimum) receive an F (or 0.00) or failure in the course. Plagiarism and cheating refer to the use of unauthorized books, notes or otherwise securing help in a test., copying tests, assignments, reports or term papers; representing the work of another person’s as one’s own, collaborating, without authority, with another student during an examination or in preparing academic work; signing another student’s name on attendance sheet; or otherwise practicing scholastic dishonesty.