DOCUMENT: SYLLABUS COURSE CODE: BAFACR1X COPIES ISSUED TO:

College of Business and Accountancy

EFFECTIVITY: AY 2023 - 2024 COURSE TITLE: Financial Accounting and Reporting Learning Resource Center
Faculty

VISION CORE VALUES

We are National University, a dynamic private institution committed to nation- 1. Integrity 2. Compassion 3. Innovation 4. Resilience 5. Patriotism
building, recognized internationally in education and research.
GRADUATE ATTRIBUTES INTENDED
INSTITUTIONAL LEARNING OUTCOMES (ILO)
MISSION FOR NATIONALIANS (GAINs)
Guided by the core values and characterized by our cultural heritage of Dynamic a. Exhibit moral, ethical, and competent leadership.
1. Leadership and Teamwork
Filipinism, National University is committed to providing relevant, innovative, and b. Collaborate effectively in teams of different cultures.
accessible quality education and other development programs. 2. Responsible Citizenship c. Participate actively in community-oriented advocacies that contribute to nation-
We are committed to our: building.
d. Develop an entrepreneurial mindset.
STUDENTS, by molding them into life-long learners, ethical and spiritual 3. Innovative, Creative, and Critical
e. Provide solutions to challenges in various fields of specialization and society in
citizens, and self-directed agents of change. Thinking
general.
FACULTY and EMPLOYEES, by enhancing their competencies, stimulating 4. Academic and Professional
their passions, cultivating their commitment, and providing a just and fulfilling f. Demonstrate mastery of foundational skills and specific areas of specialization.
Competence
work environment.
g. Express ideas meaningfully, accurately, and appropriately in multicultural and
ALUMNI, by strengthening their sense of pride through engagement, loyalty, 5. Effective Communication
multidisciplinary contexts.
and love for their alma mater. 6. Whole Person Character h. Practice NU Core Values in personal and professional life.
INDUSTRY PARTNERS and EMPLOYERS, through active collaborations, i. Engage in continuing personal and professional development.
providing them Nationalians who will contribute to their growth and j. Exemplify the capacity for self-reflection.
7. Life and Career Skills Orientation
development. k. Demonstrate adaptability, flexibility, productivity, and accountability in diverse
COMMUNITY, by contributing to the improvement of life’s conditions and well- settings.
being of its members. 8. Technological Literacy l. Exhibit mastery in navigating various technological tools and techniques.

ILO
Program Educational Objectives (PEO)
After 3 to 5 years on the job, NU graduates of the Accountancy-Related programs are expected to: a b c d e f g h i j k l
Common to all three programs
1. Make a positive change contribution over their lifetimes to the profession and society which they work; ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
2. Develop and maintain an attitude of learning to learn and competence; ✓ ✓ ✓ ✓ ✓ ✓ ✓
3. Identify problems, know where to find knowledge and apply it in an ethical manner to achieve appropriate solutions; ✓ ✓ ✓ ✓ ✓ ✓
Specific to BS Accountancy program
4. Support various stakeholders in taking strategic and operating decisions through the presentation and analysis of financial data
✓ ✓ ✓ ✓ ✓ ✓ ✓
and information arising from business transactions;
5. Provide the highest degree of professionalism on the rendering of assurance and related services keeping abreast with the
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
current accounting/auditing issues and regulations along with adherence to ethical standards;
Specific to BS Management Accounting program

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 1 of 9
 6. Support management in taking strategic decisions which include the definition of organizational strategy via collaborating with
✓ ✓ ✓ ✓ ✓ ✓ ✓
the organization’s managers in preparing alternative scenarios and evaluating different possible courses of actions;
Specific to BS Accounting Information Systems program
7. Contribute to planning, controlling and performance evaluation through an effective information system as aid in recommending
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
courses of action to the top management for the fulfilment of strategic goals.

Program Outcomes (PO) PEO

At the time of graduation, the student must be able to: 1 2 3 4 5 6 7
1. Resolve business issues and problems, with a global and strategic perspective using their knowledge and technical proficiency in the areas of financial
✓ ✓ ✓ ✓ ✓
accounting and reporting, cost accounting and management, management accounting and control, taxation, and accounting information systems;
2. Conduct Accountancy/Management Accounting/Accounting Information System research through independent studies of relevant literature and appropriate
✓ ✓
use of accounting theory and methodologies;
3. Employ technology as a business tool in capturing financial and non-financial information, generating reports, and making decisions; ✓ ✓ ✓ ✓
4. Apply knowledge and skills that will enable them to successfully respond various types of assessments (including professional licensure and certifications); ✓ ✓
5. Confidently maintain a commitment to good corporate citizenship, social responsibility, and ethical practice in performing functions as an accountant. ✓ ✓ ✓ ✓ ✓

COURSE DESCRIPTION

This course will introduce the concepts of liabilities, shareholder’s equity and some special topic. It will specifically discuss the application of accounting standards on financial
and non-financial liabilities, shareholder’s equity and special topics on leases, income taxes and employee benefits.

PRE-REQUISITE(S)
BAINTE1X - Integrated Accounting Fundamentals (with SAP)

COURSE OUTCOMES (CO)

Program Outcomes (PO)
At the end of the course, the student must be able to (CO):
1 2 3 4 5
1. Recognize, measure, and present financial assets and financial liabilities in accordance with applicable PFRS     
2. Describe the principles and standards underlying the recognition, measurement, presentation, and disclosure requirements of the
  
assets in statement of financial position
3. Employ technology as a business tool in capturing financial and non – financial information, preparing reports and making
  
decisions
4. Apply acquired knowledge and skills to pass professional licensure / certification examinations.   

CREDIT
3 Units
TIME ALLOTMENT
4 hours lecture per week

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 2 of 9
COURSE REQUIREMENTS
QUIZZES (40%) CLASS STANDING (10%) PERIODIC DEPARTMENTAL EXAMINATIONS (50%)
- Minimum of 4 major quizzes per grading period 1. Recitation - Midterm Departmental Examination
2. Others: - Final Departmental Examination
Midterm: Finals: i. Seatwork
Quiz No. 1 Quiz No. 5 ii. Attendance
Quiz No. 2 Quiz No. 6 iii. Board work
Quiz No. 3 Quiz No. 7
Quiz No. 4 Quiz No. 8

CLASS POLICIES
1. There are no excused absences. Twenty percent (20%) of all class sessions is deemed sufficient to cover for absences due to emergencies. Thus, the maximum
number of absences is 4 meetings for classes meeting once a week and 8 meetings for classes twice a week.
2. If you cannot attend the class, for any reasons (such as a family emergency), please inform your Professor.
3. You should be seated for the duration of the class and if you need to attend to urgent matters during class that will take some time, please inform your instructor and
wait for his/her approval.
4. You should be quiet and observe proper decorum while classes or student activities are on-going.
5. You are expected to read and review the learning materials.
6. You should do the learning activities and submit it on/before the due date
7. In case you are not able to take the exam because of a valid reason, submit an excuse letter signed by you and your guardian, photocopy of the guardian’s ID bearing
his/her signature, medical certificate and other proof of your excuse as soon as possible.
8. You should act as mature individuals at all times. Observe usual norms of etiquette, politeness and courtesy to your professors, administrators and staff.

GRADING SYSTEM
Grade components for the final grade computation
MIDTERM GRADE COMPUTATION: TENTATIVE FINAL GRADE COMPUTATION: FINAL GRADE:
Quizzes 40% Quizzes 40%
Class standing Class standing Midterm Grade = 40%
Learning Activities 10% Learning Activities 10% Tentative Finals Grade = 60%
Periodic Examination 50% Periodic examination 50% Final Grade = 100%
Midterm Grade 100% Tentative Final Grade 100%

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 3 of 9
Grade Equivalent (for students with SN starting 2021 & lower)
Grade Range (%) Grade Point
96 – 100 4.0
90 – 95 3.5
84 – 89 3.0
78 – 83 2.5
72 – 77 2.0
66 – 71 1.5
60 – 65 1.0
Note: Passing grade is 60% on a base-0 Grading System
59 and below R

COURSE CONTENTS / COURSE OUTLINE

COURSE TOPIC
WEEK TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
1 CO1 The students should be able to: Goal Setting and Proper Hyblend: Face-to-face & » Syllabus
CO2 Planning: Online Synchronous » University Manual » Recitation
CO4 1. Oriented to the school policies - University and College Session: and Handbook » Seatwork
and the course. Vision, Mission and Core » PowerPoint » Quiz
Values. » Live Orientation via MS Presentation » On-line
2. Explain institutional - Classroom policies Teams Meeting » Textbook assignments
philosophies, values and - Goal setting and course » Lecture
policies, examine the goal planning. » Discussion
setting created in the light of » Demonstration
undertakings in this course, and » Problem-solving
apply the institutional values in » Board work
the life–long pursuit of the » Problem Solving
professional career.

CLO1 The students should be able to: Topic 1: Partnership Formation Hyblend: Face-to-face & » Syllabus
CLO2 Online Synchronous » University Manual » Recitation
CLO4 1. Define partnership. 1. Partnership Definition Session: and Handbook » Seatwork
2. Understand the nature 2. Characteristics of a » PowerPoint » Quiz
and characteristics of a partnership » Live Orientation via MS Presentation » On-line
1-2 partnership. - Mutual Contribution Teams Meeting » Textbook assignments
3. Cite the legal provisions of - Division of Profits and » Lecture
the New Civil Code of the Losses » Discussion
Philippines governing - Co-ownership of property » Demonstration
partnership. - Mutual Agency » Problem-solving
- Limited Life » Board work

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 4 of 9
 COURSE TOPIC
WEEK TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
4. Compare a partnership - Unlimited Liability » Problem Solving
against a sole 3. Articles of Partnership
proprietorship 4. Kinds of Partners.
5. Apply the concepts 5. Classification of
relevant to partnership Partnerships
formation in accounting 6. Advantages and
for partners’ contributions. Disadvantages of
6. Prepare entries to record Partnerships
partners’ contributions. 7. Accounting for
7. Record transactions Partnerships
affecting partners’ capital - Partner’s Capital Account
and partners’ drawing - Partner’s Drawing Account
accounts. 8. Partnership Formation
8. Prepare a statement of - Valuation of Investments
changes in partners’ by Partners.
equity 1) Values Agreed Upon by
Partners.
2) Fair Market Value.
- Adjustment of Accounts
Prior to Formation
- Opening entries of a
Partnership upon
Formation.
1) Individual with No Existing
Business Form a
Partnership.
2) A Sole Proprietor and
another Individual Form a
Partnership.
3) Two or more Sole
Proprietors Form a
Partnership.

CLO1 The students should be able to: Topic 2: Partnership Operations Hyblend: Face-to-face & » Syllabus
CLO2 Online Synchronous » University Manual » Recitation
CLO4 1. Enumerate the ways by which 1. Factors to Consider in Session: and Handbook » Seatwork
partners agree to divide the Arriving at a Plan for » PowerPoint » Quiz
partnership profits and losses; Dividing Profits or Losses » Live Orientation via MS Presentation » On-line
2. 2. Enumerate legal provisions - Money, performance or Teams Meeting » Textbook assignments
3-4
regarding division of Industry » Lecture
partnership profit and loss. - Performance Methods » Discussion
3. Calculate and record profit or 2. Closing entries and the » Demonstration
loss share of the partners. distribution of profit » Problem-solving
3. Legal provisions affecting » Board work
profit or loss distribution » Problem Solving

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 5 of 9
 COURSE TOPIC
WEEK TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
4. Prepare the allocation table 4. Distribution of Profits or
and the statement of changes Losses Based on Partners’
in partners’ equity. Agreement.
5. Use partners’ current accounts - Equally or in another
aside from partners’ capital and Agreed Ratio
drawing accounts. - Based on Partners’ Capital
Contribution.
1) Original Investment
2) Capital Balance at the
Beginning.
3) Capital Balance at the End.
4) Average Capital Balance.
- Allowing Interest on Capital
- Allowing Salaries to
Partners
- Allowing Bonus to the
Managing Partner
- Allowing Salaries, Interest
on Capital, and Bonus to
Partners.
- - Minimum required profit
share of a partner

CLO1 The students should be able to: Topic 3 : Partnership Dissolution Hyblend: Face-to-face & » Syllabus
CLO2 Online Synchronous » University Manual » Recitation
CLO4 1. Explain dissolution and its effect 1. Definition of Dissolution Session: and Handbook » Seatwork
on the partnership. 2. Causes of Dissolution » PowerPoint » Quiz
2. Describe the different causes of - Admission of a partner » Live Orientation via MS Presentation » On-line
dissolution. - Withdrawal or Retirement Teams Meeting » Textbook assignments
3. Record the change in ownership of a partner - Death of a » Lecture
and revise the partners’ equity. partner » Discussion
4. Explain the concept of asset - Incorporation of » Demonstration
revaluation and bonus partnership » Problem-solving
5-6 3. Accounting procedures just » Board work
before dissolution » Problem Solving
4. Admission of a Partner
5. Withdrawal or Retirement of
a Partner
6. Death or incapacity of a
Partner
7. Incorporation of a
Partnership

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 6 of 9
 COURSE TOPIC
WEEK TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES

7 MIDTERM EXAMINATION WEEK

The students should be able to: Topic 4: Partnership Liquidation Hyblend: Face-to-face & » Syllabus
Online Synchronous » University Manual » Recitation
1. Differentiate dissolution from 1. Definition of liquidation Session: and Handbook » Seatwork
liquidation. 2. Rules in Settling Accounts » PowerPoint » Quiz
2. Identify the possible reasons for after Dissolution » Live Orientation via MS Presentation » On-line
partnership liquidation. - Assets of the Partnership Teams Meeting » Textbook assignments
3. Enumerate the processes - Order of Preference » Lecture
involved in a partnership - Insufficient Partnership » Discussion
liquidation. Assets » Demonstration
CLO1 4. Journalize the transactions - Preference of Partnership » Problem-solving
8-9
CLO2 taking place in a partnership Creditors and Partners’ » Board work
CLO4 liquidation; and Separate Creditors » Problem Solving
5. Prepare a statement of - Distribution of Separate
partnership liquidation. Properties of an Insolvent
6. Account for the liquidation Partner
process using lump-sum 3. Terminologies peculiar to
liquidation partnership liquidation
4. Accounting for Partnership
Liquidation using Lump –
Sum Method

The students should be able to: Topic 5: Corporation: Formation Hyblend: Face-to-face & » Syllabus
and share capital transactions Online Synchronous » University Manual » Recitation
1. Understand the nature and Session: and Handbook » Seatwork
characteristics of a corporation 1. Corporation definition, » PowerPoint » Quiz
based on the Revised nature and characteristics » Live Orientation via MS Presentation » On-line
Corporation Code of the 2. Similarities and distinctions Teams Meeting » Textbook assignments
Philippines (Republic Act of corporation and a » Lecture
11232). partnership » Discussion
2. Enumerate the steps in 3. Advantages and » Demonstration
CLO1
organizing a corporation. disadvantages of a » Problem-solving
CLO2
10-11 3. Describe the corporate capital corporation. » Board work
CLO3
structure. 4. Classes of a corporation » Problem Solving
CLO4
4. Distinguish preference share 5. Components of a
CLO5
and ordinary share. corporation
5. Journalize share capital 6. The process of
transactions. incorporation
6. Present the shareholder’s equity 7. Articles of incorporation
section in the statement of 8. By-laws of a corporation
financial position immediately 9. Corporate Capital
after corporation. Structure
7. Record the incorporation of a 10. Accounting for share
sole proprietorship or a capital transactions

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 7 of 9
 COURSE TOPIC
WEEK TOPICS METHODOLOGY RESOURCES ASSESSMENT
OUTCOMES OUTCOMES
partnership in the books of the 11. Delinquent subscription
sole proprietorship or the 12. Incorporation of a sole
partnership and in the books of proprietorship or a
the corporation. partnership

The students should be able to: Topic 6: The Accountancy Hyblend: Face-to-face & » Syllabus
Profession Online Synchronous » University Manual » Recitation
1. Understand and explain the 1. Definition of Accounting Session: and Handbook » Seatwork
environment of financial 2. The Accountancy Profession – » PowerPoint » Quiz
accounting and reporting; Public accounting, Private » Live Orientation via MS Presentation » On-line
2. Understand, explain and apply accounting and government Teams Meeting » Textbook assignments
the conceptual framework in accounting » Lecture
relation to objectives of 3. Limitation of the practice of » Discussion
preparing the financial public accountancy » Demonstration
statements, and the qualities 4. Accreditation to practice public » Problem-solving
or attributes in preparing accountancy » Board work
financial statements; and 5. Continuing Professional » Problem Solving
CLO1
12-13 3. Understand, explain and apply Development and CPD Credit
CLO2
the conceptual framework in Units
CLO4
relation to elements of 6. Generally Accepted Accounting
financial statements, its Principles
recognition, derecognition and 7. Different Accounting Bodies
measurement; concepts of that Promulgate IFRS and
capital and capital PFRS
maintenance
Topic 7: The Conceptual
Framework
1. Financial Reporting and
Assumptions
2. Qualitative Characteristics
Elements of Financial Statements
14 FINAL EXAMINATION WEEK

RESOURCES
[1] Empleo, Patricia M, Robles, Nenita S., German, Christopher I. Fundamentals of Accounting Volume 2 : Partnership and Corporation.2023 Edition
[2] Empleo, Patricia M. The Intermediate Accounting Series, Volume 2, 2016 Edition. Manila: Millennium Books, Inc.,2023.
[3] Cruz, Zenaida. Partnership and Corporation Accounting, 2016 Edition. Manila. Zenaida Vera Cruz Manuel.2023
[4] Valix, Peralta, & Valix (2023), Conceptual Framework and Accounting Standards. Manila: GIC Enterprises & Co. Inc.
[5] Millan, Zeus Vernon (2023). Conceptual Framework and Accounting Standards. Baguio City: Bandolin Enterpris

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 8 of 9
 PREPARED: CHECKED: RECOMMENDED FOR APPROVAL: APPROVED:

MAE ANN C. DELA RAMA, CPA, MBA JEOJILYN G. NABOR, MLIS, RL LESTER P. ACOBA, CPA, MSA MARIA LOUELLA STA. MARIA, MPA, CFMP
Department Faculty Senior LRC Director Chair, CBA Dean

BAFACR1X/ Financial Accounting and Reporting Effective: AY 2023- 2024 Prepared by: Mae Ann C. Dela Rama (mamcarino@national-u.edu.ph)
Page 9 of 9