VISION
In pursuit of perfection, the University of Baguio is committed to provide balanced quality education by nurturing academic excellence, relevant social skills and ethical values in
a fun learning environment.
MISSION
The University of Baguio educates individuals to be empowered professionals in the global community.
INSTITUTIONAL OBJECTIVES
(REVISED 2012)
The University of Baguio aims to produce a graduate who:
1. Exemplifies a higher standard of learning;
2. Manifest the mastery of relevant skills;
3. Upholds a conduct that is rightful and just;
4. Undertakes scientific and significant researches;
5. Advocates sustainable programs for the community and the environment; and
6.
Leads and demonstrates exemplary performance in the field of specialization.
Course Title:
ACCTNG2
Description:
Intermediate Accounting II
Effectivity:
Second Semester
SY 2012-2013
Date Revised
October 2012
Prepared by:
Rhoda Marie C. Manansala, CPA, MBA
Approved by:
Dr. Kareen B. Leon, CPA
SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY MISSION
The University of Baguio educates individuals to be empowered professionals in a global community. The School of Business Administration and Accountancy edifies
competitive and morally upright individuals.
OBJECTIVES
The School of Business Administration and Accountancy, in an exuberant learning climate, aims to nurture a business graduate who:
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Cultivates the knowledge, that are imperative for career success in a globalized setting;
Demonstrates relevant skills;
Utilizes macro-environmental acumen for economic growth and development;
Typifies professional integrity with humility;
Undertakes researches to promote systematic bases for business decisions; and
Models exemplary performance in business
1. School Objectives and Relationship to Institutional Objectives
SCHOOL/PROGRAM OBJECTIVES
P1. Cultivates the knowledge, that are imperative for career success in a globalized setting;
P2. Demonstrates relevant skills;
P3. Utilizes macro-environmental acumen for economic growth and development;
P4. Undertakes researches to promote systematic bases for business decisions; and
P5. Undertakes researches to promote systematic bases for business decisions; and
P6. Models exemplary performance in business
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INSTITUTIONAL
OBJECTIVES
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2. Program Outcomes and Relationship to School/ Program Objectives
Program Outcomes
P1
O1. Students graduate to become professionals imbued with high moral/ ethical standards.
O2. Graduates are highly competitive with their acquired knowledge, skills and values in the practice of their profession.
O3. Graduates are confident of their academic and industry preparations and the entry competencies learned to tackle the rigors
of the business world.
O4. Students can carry out researches that can be utilized in the community and in the business profession.
O5. Students recognize their responsibility and accountability as professionals and as workers in the community.
O6. Students become aware of and strive for their physical, mental and spiritual well-being.
O7. Students are prepared to meet the needs and demands of global employment without losing the Filipino spirit.
O8. Students become aware of their responsibility to the environment and participate actively in environmental programs.
3. Course Objectives and Relationship to Program Outcomes
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PROGRAM
OBJECTIVES
P2 P3 P4 P5
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Course Objectives
O1
PROGRAM OUTCOMES
O2 O3 O4 O5 O6 O7
O8
COGNITIVE DOMAIN
C1 Know the generally accepted accounting principles, applicable to the recognition, measurement and
statement presentation of liabilities and shareholders’ equity;
C2 Integrate and apply the generally accepted accounting principles to problem situations involving liabilities
and shareholders’ equity that are likely encountered in practice;
C3 Learn the application of accounting principles and reporting practices about financial accounting problems
and issues;
C4 Integrate the application of the topics learned to situations most likely to be encountered in everyday life;
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C5 Develop a system for higher learning designed specifically in preparation for the CPA Licensure
Examinations.
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C6 Develop the value of honesty, objectivity and perseverance;
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C7 Realize the contributions of accounting standards or GAAP to the development of more socially responsible
and morally upright professional accountant;
C8 Appreciate the role of financial accounting in meeting the informational needs of stakeholders as a basis for
decision-making;
C9 Appraise critically the role of International Accounting Standards in achieving harmonization of accounting
standards throughout the world.
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AFFECTIVE DOMAIN
PSYCHOMOTOR DOMAIN
C10 Apply the principles and concepts of accounting which focus on equities and related revenue and expense
items in the presentation of financial and related information to meet external and internal obligations;
C11 Apply the skills in systematic and logical problem solving;
C12 Solve accounting problems within the minimum speed required in the CPA Licensure Examination;
C13 Apply concepts and procedures of advanced accounting in meeting the requirement of the course such as
quizzes, group work, case studies, and other problem solving activities.
4. Pre-requisite
ACCTNG1 Intermediate Accounting I
5. Course Description
This course introduces the nature, functions, scope, and limitations of the broad field of accounting theory. The course covers
the detailed discussion, appreciation, and application of accounting principles covering the liability and shareholders’ equity accounts. Emphasis is given on
the interpretation and application of theories of accounting in relation to current and noncurrent liabilities, provisions, contingent liabilities and contingent
assets, employee benefits, leases, income taxes and shareholders’ equity, including financial statement presentation and disclosure requirements.
6. Course Coverage
Learning Contents/ Topic
School Objectives
Program Outcomes
Activity and
Learning
Approach
Evaluation
No.
of
Hrs.
P
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O1
O2
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O5
O6
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Course Syllabus
VMO
Seat Plan
Leveling of Expectations
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I. Review of Assets
 Current Assets
 Non-Current Assets
o Property, Plant and Equipment
o Intangible Assets
II. Current and Non-current Liabilities (PFRS 9, PAS
32, PFRS 7, PAS 39)
 Recognition
 Initial measurement
 Subsequent measurement
 Financial statement presentation and disclosures
III. Provisions, Contingent Liabilities and Contingent
Assets (PAS 37)
 Recognition
 Measurement
 Financial statement presentation and disclosures
FIRST GRADING EXAMINATION
IV. Employee benefits (PAS 19, PAS 26)
 Short-term employee benefits
 Post-employment benefits
 Defined Contribution Plans
 Defined Benefit Plans
 Recognition
 Measurement
 Financial statement presentation and disclosures
V. Leases (PAS 17)
 Classification
 Recognition
 Initial measurement
 Subsequent Measurement
 Financial statement presentation and disclosures
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Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
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Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
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5
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Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
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Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
Orientation
Internalize the VMO
Arrange students
Requirements and
Grading system
Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
Learning Contents/ Topic
School Objectives
Program Outcomes
Activity and
Learning
Approach
Evaluation
No.
of
Hrs.
P
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P
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P
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O1
O2
O3
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VI. Income Taxes (PAS 12)
 Recognition
 Measurement
 Financial statement presentation and disclosure
MIDTERM EXAMINATIONS
VII. Shareholders’ Equity (PAS 32)
 Corporation
 Shareholders’ Equity
 Share Capital
 Legal Capital
 Treasury shares
 Stock Rights
 Convertible bonds and convertible preference shares
 Donated Capital
 Assessments on shareholders
 Retained Earnings
 Dividends
 Other Components of Equity
 Recapitalization
 Share split
 Quasi-reorganization
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Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
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Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
VIII. Share-based Payments (PFRS 2)
 Recognition
 Equity-settled share-based payment transactions
 Share-based payment transactions with employees
 Share-based compensation plans
 Cash-settled share-based payment transactions
 Share-based payment transactions with cash
alternatives
 Deferred tax implications
IX. Book Value Per Share
 Preference shareholders’ equity
 Outstanding shares
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Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
Lecture/Discussion
Learning Contracts
Glossary of Terms
Quizzes
Seatwork
Graded
Recitation
3
Learning Contents/ Topic
 Subscription receivables
 Participating preference shares
X. Earnings Per Share (PAS 33)
 Basic Earnings Per Share
 Diluted Earnings Per Share
 Financial Statement Presentation
FINAL EXAMINATIONS
School Objectives
Program Outcomes
No.
of
Hrs.
P
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O1
O2
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O5
O6
O7
O8
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Activity and
Learning
Approach
Evaluation
3
Grading System:
For Professional Board Examination Subjects: the cut-off score is 70%. The highest possible grade is ninety-nine (99); the lowest passing grade is seventy-five
(75); and the lowest failing grade is sixty-five (65).
First grading Class standing = 70 % ; Exam = 30 %
Midterms
Class standing = 60 % ; Exam = 40 %
( Tentative Midterm Grade x 2 + First Grading ) / 3 = Midterm Grade
Finals
Class standing = 50 % ; Exam = 50 %
( Tentative Final Grade x 2 + Midterm Grade ) / 3 = Final grade
Textbook
Millan, Zeus Vernon B. (2012). Financial Reporting Theory and Practice (Intermediate Financial Accounting ) Volume 2. Quezon City: Central Book Supply,
Inc.
Book References:
Valix, Peralta, Valix. (2010). Financial Accounting Volume 2. Philippines: GIC Enterprises & Co. , Inc. COM 657 V173 2010 38087
Short, Libby, Libby. (2007). Financial Accounting: A Global Perspective 5th Edition. United States: McGraw Hill. COM 657 Sh559 2007 38247
Lam, Nelson and Lau, Peter. (2009) Intermediate Financial Reporting: An IFRS Perspective. US: McGraw Hill. COM 657 L213 2009 229811
Jones, Mowen, Hansen, Heitger, Rich. (2012). Financial and Managerial Accounting: The Cornerstones of Business Decisions 2 nd Edition. US: Southwestern
CENGAGE Learning. COM 657 F491 2012 45334
Reese, Warren. (2012). Principles of Accounting 24th Edition International Edition. US: Southwestern CENGAGE Learning. COM 657 R331 2012 45124
Powers, Needles, Crosson. (2011). Financial and Managerial Accounting Principles 9th Edition International Edition. US: McGraw Hill. COM 657 P588 2011
45568
Libby, Libby, Short. (2007). Financial Accounting 5th Edition. US: McGraw Hill. COM 657 L694 2007 37188
Robles, Nenita and Empleo Patricia. (2009) Intermediate Accounting Volume 2. Philippines: Millenium Books, Inc. COM 657 044 R666 2009 V2 29513
Websites References:
http://www.iasplus.com
http://www.picpa.com.ph
http://www.skousen.swcollege.com
http://www.sec.gov.ph
http://www.dlsu.edu.ph
http://accounting.swlearning.com
http://stice.swlearning.com
http://www.numa.com/
www.mhhe.com
Syllabus Evaluation Committee:
Allyn Garibay
Library Section Head for CRIM/LAW/COM/ICT
Ruby R.Buccat, MBA
Program Chair – Business Administration (OM / HRDM / MM/ FM)
Dr. Kareen B. Leon, CPA
Dean, School of Business Administration and Accountancy