This subject is a continuation of the introductory course in accounting (AC-101) for Business Administration students, who will not be specializing in accounting. The subject focus will be:
1. Ac-102 continues the Balance Sheet accounts starting with liabilities and equity accounts. The equity structures of business entities, particularly: single proprietorships, partnerships and corporations, the laws governing such forms of business entities are discussed extensively in relation to the accounting practice prevailing.
2. The Income Statement and its component accounts and forms
3. The two formats of the Statement of Cash Flows
4. Financial Statement Analysis through the use of the various tools, such as ratios, vertical/horizontal, and time series analysis
5. Understanding and interpreting financial data/statements/reports for purposes of assisting in the decision-making process
COURSE DESCRIPTION :
This subject is a continuation of the introductory course in accounting (AC-101) for Business Administration students, who will not be specializing in accounting. The subject focus will be:
1. AC-102 continues the Balance Sheet accounts starting with liabilities and equity accounts. The
equity structures of business entities, particularly: single proprietorships, partnerships and
corporations, the laws governing such forms of business entities are discussed extensively in
relation to the accounting practice prevailing.
2. The Income Statement and its component accounts and forms
3. The two formats of the Statement of Cash Flows
4. Financial Statement Analysis through the use of the various tools, such as ratios, vertical/horizontal,
and time series analysis
5. Understanding and interpreting financial data/statements/reports for purposes of assisting in the
decision-making process
COURSE OBJECTIVES :
At the end of the course, the student should be able to:
- General Objectives:
1. Describe the nature, functions, scopes and limitations of accounting, as well as its relationship to
other business disciplines
2. Understand and discuss the fundamental theories, concepts and principles of accounting
3. Know the process and techniques in analyzing business transactions with the objective of applying
the same for decision-making
- Specific Objectives:
1. Analyze business transactions correctly
2. Understand the usefulness of financial information particularly the Balance Sheet, Income Statement,
Statement of Retained Earnings, and Notes to Financial Statement
3. Learn and discuss how accounting generates information for use in decision-making
4. Realize and appreciate the importance of the use of accounting in the success of a business
concern
5. Realize the need to adapt the system of accounting control in managing a business
6. Integrate the values of honesty, objectivity and integrity in the accounting process
7. Develop awareness of social responsibilities, as well as ethical practices of the business enterprise
INSTRUCTIONAL MATERIALS/TEXTBOOK:
LECTURE NOTES FOR BA-23 and BA-24, Volume II (Second Edition), Danilo D. Reyes (Note: Textbook is available as a free-ware to students from: http://groups.yahoo.com/group/mcba23
COURSE REQUIREMENTS:
· 3 Quizzes (announced or unannounced, at least one per 3 chapters)
· Seatwork as needed
· Preliminary Examination
· Final Examination (Alternative group work involving analysis of financial statement of actual company
may be given instead)
GRADING SYSTEM :
|
· Class Average
o Recitation/Class Participation
o Seatwork/Quizzes
o Prelim Exam
|
15%
25%
30%
|
|
· Final Exam
|
30%
|
|
Total
|
100%
|
REFERENCES :
1. ACCOUNTING FOR NON-ACCOUNTANTS, Text and Cases, Daniel R. Cruz
2. ACCOUNTING, Horngren, Harrison & Robinson (Third Edition)
3. ACCOUNTING The Basics for Business Decisions, Meigs & Meigs (Ninth Edition)
4. INTRODUCTION TO ACCOUNTING & BOOKKEEPING (Service/Merchandising), Cecilia Hugo-Macapilit
