Bohol Northern Star College
JANUARY 2023
College of Business and Accountancy
MAY 2023
CBA
2ND SEMESTER
Vision
Mission
A pioneering Educational institution in the northeastern part of Bohol
offering quality education empowered by the virtues of noble hearts, educated
minds, and a helpful hands, to be globally competent.
To provide highly trained facilitators responsive to the needs of
the community.
College Goals
1.
2.
3.
4.
5.
To
To
To
To
To
hire skillful and competent Faculty and Staff.
develop students to be refined business professionals and globally competitive.
encourage the Faculty and Staff be involved and Participative in all department activities.
be responsiveness to our students towards the attainment of VMGO of the department. And
trace the economic standard of living and involvement of our Graduates towards social responsibility to the community.
Program Outcomes (from CMO No. 17, s.2017 sec. 6.3)
The graduates have the ability to:
1.
2.
3.
4.
5.
Analyze the business environment for strategic direction
Prepare operational plans
Innovate business ideas based on emerging industry
Manage a strategic business unit for economic sustainability
Conduct business research
Class Information
Instructor’s Information
BSA-BSMA 1 & BSBA -FM 1
WARREN M. AUDITOR
MTW & THF
College Instructor
1:00AM – 2:00 PM (BSBA-FM 1)
9:30AM- 11:00 AM (BSA-SBMA 1)
Per Hour
Business Room 3 & 6
Mobile Number: 09308250904
2ND SEMESTER S.Y. 2022-2023
warrenauditor107@gmail.com
Course Information
Course Name
CONCEPTUAL FRAMEWORK AND ACCOUNTING
STANDARDS
FINANCIAL ACCOUNTING AND REPORTING
Course Code
ACCTG 2
Pre-requisite
Course Credit 3 units, (18 weeks, 54 hrs. total)
Subject
Course Requirements
• Major Exams
• Summative quizzes
• Per unit outputs as specified in the assessment
• End of course learning log (reflective journal) and portfolio (compilation of outputs) on the different learning.
Grading System
Assessment Tasks
CO1
CO2
CO3
Attendance
Quizzes, Assignments and Research
Oral Recitation
Project/ Portfolio
Major Examinations (Preliminary
Examination, Mid-term Examination)
Weight
10%
15%
15%
20%
40%
Minimum Average
for Satisfactory
Performance
5%
10%
10%
15%
35%
100%
75%
Previous (Midterm) Grade =
100% x 40%
Attendance
Quizzes, Assignments and Research
Oral Recitation
Project/ Portfolio
Major Examinations (Semi-final
Examination (Summary Exam), Final
Examination)
CO4
CO5
CO6
Present (Final) Grade
40% Previous Grade + 60% Present Grade
=
=
10%
15%
15%
20%
40%
5%
10%
10%
15%
35%
100%
75%
100% x 60%
Final Grade
The following table will be used in giving the final grades:
Percentage
Equivalent
Final Grade
74
and
below
5.00
7577
78 80
8183
8486
8788
8991
9294
9597
98100
3.00
2.75
2.50
2.25
2.00
1.75
1.50
1.25
1.00
Rubrics will be used for other types of assessment such as oral presentation, simulation, etc.
1
2
3
4
5
BEGINNING
Limited
Evidence of
Achievement
DEVELOPING
Some Evidence
of Achievement
PROFICIENT
Commendable
Achievement
ADVANCE
Exceptional
Achievement
75 – 80
81 – 86
APPROACHIN
G
PROFICIENCY
Adequate
Evidence of
Achievement
87 – 88
89 – 94
95 – 100
Course Description
This course is designed to provide students with knowledge on the current financial reporting framework of
businesses. This course deals with the financial reporting principles embodied in the Conceptual Framework for Financial
Reporting and the Philippine Financial Reporting Standards (PFRSs), which are issued by the Financial Reporting Standards
Council (FRSC)
POs covered
1,2,3,4,5
POs covered
Course Learning Outcomes
Upon completion of this course, the learners are expected to:
1. Gain appreciation of the financial reporting standards, particularly their development, application and impact to the
1,3,4
business environment.
2. Demonstrate knowledge, skills, and positive attitudes to the concepts and principles of financial reporting for business
1,4
as applied to real life situations.
3. Demonstrate knowledge in identifying the appropriate financial reporting standards to apply to specific business
2,3,4,5
transactions and other events.
4. Demonstrate skills in applying the principles of the financial reporting standards through problem solving.
2,4
Time
Allotment
Intended Learning Outcomes
(ILOs)
After studying the chapter, students
be able to:


Week 1





Week 2
Content
 THE ACCOUNTANCY
PROFESSION
 CONCEPTUAL FRAMEWORK
Explain the nature of business
Objective of financial
Enumerate and discuss the four
reporting
factors of producing goods and
services.
Explain the main objective of a
business firm.
Describe the types of businesses.
Understand the legal forms of
organization, their advantages
and disadvantages.
Describe the business activities
Enumerate and explain the
interest of the different business
stakeholders.
After studying the chapter, students 
be able to:

 Explain the nature and overall 
objective of “accounting”.
 Enumerate and explain the types 

of accounting information.
 Explain
how
accounting
information
links
economic
activities to decision-making.
 Be familiar with the users and
uses of accounting information,
internal and external.
CONCEPTUAL FRAMEWORK
Qualitative Characteristics
Financial statements and
reporting entity
Underlying assumptions
Elements of financial
statements
Suggested Teaching &
Learning Activities
 Introduction of students,
instructor, school
policies, the course
subject, discussion of
the syllabus, the grading
system, and the books
to be used.
(Offline/Online)
 Self-introduction video
with expectations
(Blended)
Suggested
Assessment
Indicators
Summative Quiz
(Essay,
Identification,
Enumeration)
Educated
minds
 Innovation
 Excellence
Assignments
Advanced
Reading/ Research
 Facilitated discussion/
Lecturing through
powerpoint
presentation/ Video
Lecture
(Offline/Online/blended)
 Oral Reporting
(Powerpoint
Presentation)
(Offline/Online/Blended)
 Class discussions &
interactions/Video
Recorded discusiion
(Offline/Online/Blended)
Oral recitation
Summative Quiz
(Essay,
Enumeration)
Creativity
Responsibility
Determination


Week 3
Week
4
Appreciate the need for an
accountant’s ethical behavior in
fulfilling his mandate.
Explain the relationship between
bookkeeping and accounting.
Preliminary Examination
CHAPTER 1 -5
After studying the chapter, students  CONCEPTUAL FRAMEWORK
be able to:
 Recognition and measurement
 Presentation and disclosure
 Describe the conceptual
 Concepts of Capital
framework that govern the
financial reporting activity.
 Identify the basic principles,
assumptions and constraints
in financial reporting.
 Identify the qualities that
make accounting information
useful.
 Explain the accounting
equation and its elements.
 Analyze the effects of
business transactions on the
accounting equation.
 Illustrate the effect of
business transactions in the
financial statements.
Preliminary
Examination
Oral Reporting
(Powerpoint
Presentation)/video
recorded
(Offline/Online/Blended)

 Class discussions &
interactions/Recorded
discussion
(Offline/Online/Blended)
 Board work (Offline)
 Educational games
WHERE I BELEONG?
Students will form a group
and try to classify the
account titles where it
belongs. (Offline)
Submit list of account titles
classified
in
Assets,
Summative Quiz
(Problem Solving)
Helpful Hands
Collaboration
Leadership
Noble Hearts
Trustworthiness
Educated
Minds
Competency
Liabilities,
Equity,
Expenses and Income.
(Online/Blended)



After studying the chapter,
students be able to:
 Oral Reporting
(Powerpoint
PAS 1
Presentation)
Explain briefly the elements
 Statement of financial position
(Offline/Online/Blended)
related to the financial
 Statement of Comprehensive
statements.
Income
 Facilitated discussion/
Lecturing / Video
Give and describe at least
Lecture
three examples of accounts in PAS 7
 Statement of Cashflows
(Offline/Online/blended)
each element of the financial
statements.

Be familiar with the financial
statements of the various
types of businesses.

Know the importance and the
relationship of the financial
statements.
Week 5
 PRESENTATION OF
FINANCIAL STATEMENTS
 Think, Pair, Share
Students will be given
problems for the
preparation of financial
statements and find a
partner to pair their
works and share it in
the class.
(Offline/Online/Blended)
Summative Quiz
(Preparing
Financial
Statements)
Assignment
Helpful Hands
Collaboration
Teamwork
Noble Hearts
Accountability
Kindness
Optimism
Educated
Minds
Knowledge
Determination
Competency
Week
6


After studying the chapter,
students be able to:
Describe the accounting
information (AIS) is.

Explain the basic functions
essential elements of an AIS.

Describe the features and
characteristics of an effective
AIS.

Explain briefly the structure
of an AIS.

Describe the basic
Computerized AIS.

Understand who is
responsible for designing and
installing a business firm’s
AIS.
PAS 8
 ACCOUNTING POLICIES,  Oral Reporting (Powerpoint
ESTIMATES AND ERRORS
Presentation)
(Offline/Online/Blended)
PAS 10
 EVENTS AFTER REPORTING
 Facilitated discussion/
PERIOD
Lecturing / Video Lecture
(Offline/Online/blended)
PAS 24
 RELATED PARTY
 Board work (Offline)
DISCCLOSURES
To be done online or
submitted via
GCR/messenger
(Online/Blended)
Summative Quiz
(Journalizing and
Posting)
Oral Recitation
Advanced Reading
(Books/ Online)
Educated
minds
 Innovation
 Excellence
 Responsibilit
y

Week 7
Describe the tools and
processes comprising the AIS.
After studying the chapter, students
be able to:
 Describe the complete
accounting processing cycle
(APC).
 Enumerate and explain the
major steps in the accounting
processing cycle and their
objectives.
PAS 2
INVENTORIES
PAS 15
PROPERTY, PLANT AND
EQUIPMENT
PAS 20
GOVERNMENT GRANT
 Watch a video
presentation on
Accounting Processing
Cycle
(Offline/Online/Blended)
 Facilitated discussion/
Lecturing
(Offline/Online)
Oral recitation
from the video
presentation.
Summative Quiz
(Problem Solving)
Patience
Attentive
Competency

Week 8-9 After studying the chapter, students
be able to:

Week 10
Assignment
Apply the accounting
processing cycle to a service
company in a sole
proprietorship setting.
Explain the operating cycle of
a merchandising company
and its major activities.
 Describe the major activities
for a merchandizing or
trading company.
 Understand the basic
concepts of inventory
accounting.
 Describe the two approaches
in accounting for
merchandising transactions.
 Prepare the financial
statements of a trading
concern.
 Apply the accounting
processing cycle to a
merchandising firm using the
two approaches.
Midterm Examination
PAS 23
BORROWING COSTS
PAS 28
INVESTMENT IN ASSOCIATES
PAS 36
IMPAIRMENT OF ASSETS
PAS 38
INTTANGIBLE ASSETS
 Facilitated discussion/
Lecturing / Video
Lecture
(Offline/Online/blended)
 Brainstorming
Summative Quiz
(Preparing
Financial
Statements on
Merchandizing)
Group works
Noble Hearts
Accountability
Kindness
Optimism
Educated
Minds
Knowledge
Determination
Competency
(Offline/Online)
 Seatwork
(Offline/Online/blended)
CHAPTER 6-20
Helpful Hands
Collaboration
Teamwork
Midterm
Examination
Week 11- After studying the chapter, students
12
be able to:

Describe how accounting system
cope with transaction loads.
 Rationalize the need for special
journals and subsidiary ledgers.
 Explain the relationship between
control accounts and subsidiary
ledgers.
 Describe and the use the
Accounts receivable and
Accounts payable subsidiary
ledger.
 Apply the accounting processing
cycle in a merchandizing
business using the special
journals.
Week 13- After studying the chapter, students
14
be able to:





Describe and explain the nature
and operations of manufacturing
companies.
Understand the nature of
inventories of a manufacturing
concern.
Explain the elements of
production costs.
Prepare the statement of cost of
goods manufactured and sold.
Prepare and explain the
statement of income of a
manufacturing company.
PAS 40
INVESTMENTPROPERTY
PAS 41
AGRICULTURE
PAS 37
PROVISION, CONTINGENT
LIABILITY AND ASSET
PAS 32
FINANCIAL INSTRUMENTSPRESENTATION
PAS 12
INCOME TAXES
PAS 19
EMPLOYEE BENEFITS
PAS 33
EARNINGS PER SHARE
PAS 34
INTERIM FINANCIAL REPORTING
 Oral Reporting
(Powerpoint
Presentation)
(Offline/Online/Blended)
 Facilitated
discussion/
Lecturing / Video
Lecture
(Offline/Online/blended)
Summative Quiz
(Problem
Solving)
Innovation
Communication
Competency
Responsibility
Attentiveness
Assignment
 Board work
(Offline)
To be done online or
submitted via
GCR/messenger
(Online/Blended)
 Facilitated discussion/
Lecturing / Video
Lecture
(Offline/Online/blended)
 Peer Tutorial/ Online
Group Discussion
(Offline/Online/Blend
ed)
Summative Quiz
(Problem
Solving)
Educated
Minds
Knowledge
Competency
Helpful Hands
Collaboration
Teamwork
Noble Hearts
Accountability
Kindness
Week 15
SEMI- FINAL EXAMINATION
Week 16- After studying the chapter, students
17
be able to:




Explain the nature and purpose
of classifications in financial
statements.
Discuss the quality of a
company’s earnings, assets,
and working capital.
Prepare a classified balance
sheet and compute widely used
measures of liquidity and credit
risk.
Prepare a multi-step and a
single-step income statement
and compute widely used
measures of profitability.
CHAPTER 21-28
PFRS 1
FIRST TIME ADOPTION OF PFRS
PFRS 2
SHARE-BASED PAYMENT
PFRS 5
NONCURRENT ASSETB HELD FOR
SALE
DISCONTINUED OPERATION
PFRS 6
EXPLORATION AND EVALUATION
OF MINERAL RESOURCES
Semi- Final
Examination
 Facilitated discussion/
Lecturing / Video
Lecture
(Offline/Online/blended)
 Board work/ Group
Work (Offline)
To be done online or
submitted via
GCR/messenger
(Online/Blended)
Oral Recitation
Summative Quiz
(Prepare a
classified balance
sheet, multi-step
and single-step
income statement)
Portfolio
(Containing all
output in
accounting cycle
and preparation of
financial
statements)
Teamwork
Collaboration
Competency
Attentiveness
Week 18
After studying the chapter, students
be able to:



Explain the nature and purpose
of operating segments and
financial instruments.
Discuss the fair value
measurements.
Understand the nature and
identify the revenue from
contracts with customers and
leases.
PFRS 8
OPERATING SEGMENTS
PFRS 9
FINANCIAL INSTRUMENTS
Measurement of financial asset
PFRS 13
FAIR VALUE MEASUREMENTS
 Facilitated discussion/
Lecturing / Video
Lecture
(Offline/Online/blended)
Summative Quiz
(Problem
Solving)
Assignment
PFRS 15
REVENUE FROM CONTRACTS
WITH CUSTOMERS
PFRS 16
LEASES
FINAL EXAMINATION
CHAPTER 29-39
List of References
FINAL
EXAMINATION
Competency
Attentiveness
Millan, Z.B. (2022). Conceptual Framework and Accounting Standards. Paramount Vill., Sto. Tomas, Baguio City: Bandolin Enterprise
International Accounting Standards Board. (2010) Conceptual Framework for Financial Reporting. In International Financial Reporting Standards (2010).
Available from: http://eifrs.ifrs.org [Accessed 22 November 2016].
https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2021/issued/part-a/conceptual-framework-for-financial-reporting.pdf
Descriptions of Assessment Methods
Assessment Method
Description
Facilitated Discussions
The facilitator assists the parties to prepare for and engage in a conversation to identify and clarify the issues that
are at stake.
A video lesson or lecture is a video which presents educational material for a topic which is to be learned. The format
may vary. It might be a video of a teacher speaking to the camera, photographs and text about the topic or some
mixture of these.
To be able to be ahead in development, knowledge, progress, etc.
Video Lecture/Lesson
Advanced
Reading/Study/Research
Library/Online research
Portfolio Making/Case Study
This involves the systematic gathering of information in order to write a paper, create a presentation, or complete
a project. The students should also do their own research to add up what they have already learned.
A portfolio is a collection of self-chosen work that exhibits a student’s effort, progress and achievement. Examples
of evidence criteria include: selection, organization, reflection, alignment, connection with learning outcomes,
creativity, and reflection exhibiting depth, breadth and growth of student’s cognitive and emotional skills
Summative Quizzes
Tests what has been learnt, the extent of the students’ knowledge on a particular topic. Often held at the end of a
topic or session.
Prepared by:
WARREN M. AUDITOR
Instructor
Recommending for Approval:
ELVIE G. RANOLLO, CPA, MPA
Dean/Program Head
Approved by:
LEONARDA D. LOAYON, Ed.D
School President