PHILIPPINE COLLGE OF NORTHWESTERN LUZON
BACHELOR OF SCIENCE IN ACCOUNTANCY DEPARTMENT
AGOO, LA UNION
SY 2021-2022
COURSE Outline
-inAccounting 101
Fundamentals of Accounting
VISION
To be a distinctive learning institution acknowledged far and wide for its innovative
and flexible approaches in working with its students, stakeholders and the community to create a
more just and humane society and a more sustainable economy.
MISSION
In support of its philosophy, Philippine College of Northwestern Luzon mandates itself to
provide advanced quality instruction to its clientele in education, the arts and humanities, the
sciences, technology, business and other related professional and technical fields; promote the
advancement of knowledge through research; and help improve the quality of community life
through extension work.
PROGRAM OUTCOMES:
● Communicate and discuss the most recent developments in a particular area of
expertise;
● Use both Filipino and English effectively to communicate both orally and in writing;
● Ability to function effectively and independently in multidisciplinary and multicultural teams is required.
● Acknowledge your professional, social, and ethical responsibilities by taking action.
● Maintaining and promoting "Filipino historical and cultural heritage" is important.”
DEGREE OUTCOMES:
● Create and implement strategies to address business issues and problems from a global
and strategic perspective, drawing on knowledge and technical proficiency in the areas
of accounting
● Conduct business research through independent studies of relevant literature and
appropriate use of accounting theory and methodologies;
● Employ technology as a business tool in capturing financial and non-financial
information, generating reports and making decisions;
● Apply knowledge and skills to successfully respond to various types of assessments;
and (including professional licensure and certificates); and
COURSE DESCRIPTION
This course is intended to provide students with an understanding of business
organizations through the understanding of accounting theory, concepts, and procedures,
among other things. Students will gain an understanding of journalizing and posting
transactions, worksheets, financial statements, as well as accounting concepts and
procedures that are essential to the accounting cycle and will be able to apply their
knowledge.
COURSE OBJECTIVES:
AFTER COMPLETING THIS COURSE, STUDENTS CAN:

Provide a foundation for further study in Accounting and/or Business and Finance
after completing this course.

provide an understanding of business operations and accurate record-keeping to
students in order for them to be successful in their future careers

To prepare students for entry-level accounting positions as well as administrative
assistant positions in the accounting field.

Students will be required to use fundamental academic skills in math, English, and
reading in order to complete the activities.

Describe how accounting serves as a foundation for a variety of careers, as well as the
responsibilities associated with various accounting occupations.

Explain why effective communication skills are important when it comes to reporting
accounting information.

Accounting concepts and practices related to a proprietorship and a merchandising
business should be identified and explained in detail.

Analyze the impact of transactions related to the establishment of a proprietorship
and merchandising business on the accounts in a financial accounting formula.
I.
Introduction of Accounting and Accounting Profession
II.
Accounting Concepts and Principles
III.
Accounting Information System
IV.
Analyzing and Summarizing Business Transactions
V.
Recording Business Transactions
VI.
Measuring Business Income
VII.
Correcting Entries
VIII. Accounting for Servicing Business
IX.
Accounting for Merchandising
X.
Accounting for Manufacturing Business
XI.
Special Journals
XII.
Taxes and Payroll Accounting
COURSE REQUIREMENTS
To pass the subject, the student must:
1. Attend class regularly.
2. Actively participate in class discussions.
3. Pass written examinations such as quizzes and major exams.
4. Display a favorable and positive attitude towards the subject.
5. Submit research work assigned.
6. Pass assignments required.
GRADING SYSTEM:
The following grades computation is applicable to the subject:
60% is equivalent of 75% passing score. For example, for 100 items, you
need to get 60 raw score for pass the test.
Grade
- 50% of weighted mean of class standing + 50% of the examination
REFERENCES:


Valencia, Edwin A. & Roxas, Gregorio F. Basic Accounting Concepts, Principles,
Procedures and Applications 4th Edition
Ballada, W., & Ballada, S. (2012). Basic Financial Accounting and Reporting .
Prepared by:
HERNAN L. PARROCHA, CPA, CTT
Licensed Accounting Professor
PRC – CPA 0155263
Board of Accountancy Accredited Licensed
Accountancy Teacher No. F21 - 1252