COLEGIO DE SAN JUAN DE LETRAN

Intramuros, Manila

College of business Administration and Accountancy

ACCOUNTANCY AREA
Syllabus
School Year 2005-2006

I. Course Number : ACCTG 2

II. Course Title : Introduction to Partnership and Corporation Accounting

III. Credit : 3 units

IV. Prerequisite : Acctg. 1

V. Course Description: This is a continuation of the first course in accounting. It deals with transactions, financial statements, and problems peculiar to the operations of
partnership and corporations as distinguished from sole proprietorships. Topics include: partnership formation and operations including accounting
for the admission of partners, changes in capital, and profit-and loss sharing ratios, the conversion of an unincorporated enterprise into a corporation;
accounting for incorporated enterprises, including the preparation of financial statements for internal and external purposes; and sample financial
statements of companies in the service, manufacturing and trading industries.

VI. Course Rationale: To contribute to the full appreciation of the course, a student should be exposed to the formation, operations, dissolution, and liquidation of
partnerships, basic considerations in forming a corporation and stock transactions.

VII. Course Objectives:

A. General Objective:

At the end of the course the students are expected to have achieved a thorough understanding of the principles, theories, concepts, structures
and relationships of a partnership and the corporate form of business enterprise.

B. Specific Objectives:
Cognitive:
• Establish a thorough and working understanding of the overall concepts and principles of accounting as applied to the partnership and
corporate forms of business organization as well as the provision of partnership laws related to the formation, objections, dissolution and
liquidation; knowledge in the accounting of partnership transactions including conversion of sole proprietorship to partnership; provisions of
corporate law related to formation, capital structure and operations of a corporate form of organization; knowledge in the accounting of
corporate transactions, including conversion of partnership to corporation.
Affective:
• Accept the business and social responsibilities attached to both the partnership and corporate forms of business.
• Integrate the values of honesty, objectivity, mutual trust and concern.
• Value the importance of basic accounting principles leading to the construction of financial information for decision-making.

Psychomotor:
• Perform the necessary steps in the preparation of financial statements of the partnership and corporate forms of business whether
engaged in trading or manufacturing operations.
 Specific Objectives Subject Matter Values Strategies/ Instructional Evaluation Time Expected
Teaching Material Frame Output
Methodologies

Review the basic 1.Review of accounting cycle Sense of -Question and -Review Review 1st Reviewed the
principles and concepts a. Recording of business appreciation Answer Illustrative. tests, week- basic principles
learned in accounting 1. transaction in the journal. -Discussions -Demonstration Quizzes 2nd and concepts
b. Posting to the general ledger -Problem Solving problem week learned in
c. Preparation of trial balance -Book accounting 1.
d. Preparation of 10 column -Exercises
worksheet
e. Preparation of adjusting
entries
f. Preparation of financial
statements
1.Multiple step income
statement
2. Statement of changes in
owners equity.
3.Classified balance sheet
g. preparations of closing and
reversing entries.
 Specific Objectives Subject Matter Values Strategies/Teaching Instructional Evaluation Time Expected Output
Methodologies Material Frame

Define partnership clearly. 2.Partnership basic concepts & Sense of Lecture, Discussion -Illustrative/ Tests, 3rd-4th Defined partnership
Enumerate the features of formation appreciation -Question and answer Demonstration Quizzes, long week clearly.
a partnership. a. Partnership defined -Lecture- Problem examination Enumerate the
b. Features of partnership . Demonstration -Sample of features of a
Cite the advantages and c. Elements of a partnership. Objectivity and --Problem Solving articles of a co- partnership.
disadvantages of a d. Kinds of [partnership Fairness. Partnership
partnership as compared to e. Kinds of partners -Book Cited the
sole proprietorship and f. Partners role -Exercise advantages and
corporation. g. Advantages and -Case Problem disadvantages of a
disadvantages of -Practice Set partnership as
Explain the accounting partnership compared to sole
principles in partnership h. Articles of a partnership proprietorship and
formation. i. Rights of partners corporation.
j. Partners capital and
drawing accounts Explained the
k. Loan Payable and Loan accounting
Journalize transactions Receivable accounts principles in
related to partnership l. Opening the books of the partnership
formation. partnership formation.
m. Forms of investment.
Journalized
transactions related
to partnership
formation.
 Specific Objectives Subject Matter Values Integrated Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output

Determine the net income or 3. Partnership operation and Accuracy -Lecture, discussion -Illustrative/ Tests, 5th-7th Determined the
net loss of partnership division of profit and losses Appreciation -Question and answer Demonstration Quizzes, long week net income or
business. a. Income statement. Honesty and -Lecture-demonstration Problem examination net loss of
b. Closing entries fairness -Problem solving --Exercise partnership
Prepare income statement of c. Worksheet -Research -Practice Set business.
a service or merchandising d. Methods of dividing
partnership. profits and losses Prepared
e. Factors for an equitable income
Apply the different ways of method of distribution. statement of a
distributing net profit or net f. Statement of changes in service or
loss. partner’s equity. merchandising
partnership.

Enumerate the different 4. Changes in partners equity Values of fairness -Lecture, discussion -Illustrative/ Tests, Applied the
causes of dissolution. a. Dissolution defined and integrity -Question and answer Demonstration Quizzes, long 8th-9th different ways
Revise the partners equity b. Causes of dissolution -Lecture-demonstration Problem examination week of distributing
after dissolution c. Accounting procedures to -Problem solving --Exercise net profit or net
Apply the accounting dissolution -Group discussion -Practice Set loss.
principles with regards to d. Admission by punches -cases
goodwill and bonus e. Admission by Investment
recognition. f. Withdrawal of a partner
Journalize the transaction g. Death of a partner
related to dissolution. h. Incorporation of a
partnership
i. Recognition of goodwill,
bonus and asset
revaluation.
 Specific Objectives Subject Matter Values Integrated Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output

COMMUNITY SERVICE
INTEGRATION

Provide the students with Nature, formation and Organizing skills Lecture-discussion Illustration, Quizzes Provided the
the basic operational organization of partnership. Obedience and Project study in Exercises Seat works students with the
knowledge of partnership compliance to partnership organization Problem-solving basic operational
accounting that they may government rules knowledge of
apply to adopted partnership
community. accounting that
they may apply to
adopted
MID-TERM community.
EXAMINATION
Differentiate dissolution Values of fairness -Lecture, discussion -Illustrative/ Tests, 10th week Differentiated
from liquidation. 5. Partnership Liquidation and integrity -Question and answer Demonstration Quizzes, long dissolution from
Apply the legal provisions (general Partnership) -Lecture-demonstration Problem examination liquidation.
for partnership liquidation; a. Liquidation defined -Problem solving --Exercise Applied the legal
apply accounting b. Distinction between -Practice Set provisions for
procedures for lump-sum dissolution and -Cases partnership
liquidation. liquidation liquidation;
Prepare the statement of c. Liquidation by Lump- apply accounting
liquidation sum method procedures for
Record the transactions d. Statement of partnership lump-sum
involved in lump-sum Liquidation. liquidation.
liquidation. e. Entries in liquidation. Prepared the
f. Cash distribution by statement of
lump-sum method liquidation
1. Partners with Recorded the
loan account transactions
2. Deficient partners involved in lump-
in solvent sum liquidation.
3. Exercise of the
right of offset
Specific Objectives Subject Matter Values Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output
 Defined
Define corporation. 6.Accounting for Corporate Adherence to -Lecture, discussion -Illustrative/ Tests, 11th-14th corporation.
Discuss the attributes of a formation and Operation. legal provisions -Question and answer Demonstration Quizzes, long week Discussed the
corporation a. Formation of corporation. -Lecture-demonstration Problem examination attributes of a
Explain the incorporation Definition Faithfulness -Problem solving --Exercise corporation
requirements. 1. Characteristics. -Practice Set Explained the
List down the different 2. Types of Values of -Cases incorporation
kinds of corporation. corporation fairness, honesty requirements.
Describe the kinds of 3. Distinction and integrity Listed down the
Capital Stock. between different kinds of
Examine the different partnership and Care and corporation.
components of corporation. Accuracy Described the
stockholders equity b. Accounting for formation kinds of Capital
Journalize capital stock and operation. Stock.
transaction.(using two 1. Recording of Examined the
methods) preferred and different
Journalize dividends, common stock (par, components of
treasures stocks & retained non-par, stated stockholders
earnings. value) transactions equity
Compute EPS and BVS. under Journalized
memorandum & capital stock
journal entry transaction.(using
methods. two methods)
2. Incorporation of Journalize
sole proprietorship dividends,
and/or partnership. treasures stocks
& retained
earnings.
Compute EPS
and BVS

Specific Objectives Subject Matter Values Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output
Discuss the nature of 7. non-cost manufacturing Values of Demonstration-Lectures, -Illustrative/ Tests, 15th-16th Discussed the
manufacturing business. system. attentiveness and question and browser Demonstration Quizzes week nature of
Differentiate manufacturing a. Introduction of the care Problem manufacturing
from merchandising business elements of --Exercise business.
manufacturing costs -Cases Differentiated
. -Direct materials manufacturing
Journalize manufacturing -Direct loan. from
transactions. -Manufacturing expenses. merchandising
Prepare statement of cost of b. Preparation of statement business
goods manufactured and of cost of goods Journalized
sold. manufactured and income manufacturing
statement. transactions.
Prepared
statement of cost
of goods
manufactured and
sold.

Define what the voucher 8. Voucher system Value of Lecture-discussion -Illustrative/ Tests, 17th week Defined what the
system is a. Characteristics of the carefulness and Lecture demonstration Demonstration Quizzes voucher system is
Examine critically the voucher system. patience Problem-solving Problem Examined
features of the system. b. Books of accounts used Question and answer. --Exercise critically the
Explain the basic concepts of c. Accounting entries made. -Cases features of the
the system. system.
Prepare journal entries using Explained the
the different books of basic concepts of
accounts. the system.
Prepared journal
entries using the
different books of
accounts
 Specific Objectives Subject Matter Values Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output

Correlate the inter 9.Simple reconstruction of Values of Lecture-discussion Demonstration Quizzes and 18th week Correlated the
relationships of different accounts. accuracy, care Lecture demonstration problems tests inter
accounts a. Determination of net and patience Question and answer. Exercises relationships of
Analyze the entries made. income or loss through different
Compute for missing items reconstruction of. accounts
and amounts. 1. Sales Analyzed the
2. Purchase entries made
3. Expenses Compute for
4. Other income missing items
5. Capital accounts and amounts.
b. Reconstruction of
accounts from trial
balance.

COMMUNITY SERVICE
INTEGRATION
Provided the
Provide the students with the Nature, formation and Organization Lecture-discussion Illustration Quizzes students with
basic skills in cooperatives organization of corporation skills Project study on how to Exercises Seatwork the basic skills
and corporation accounting as well as cooperatives. Compliance to organize a corporation Problem-solving Examination in cooperatives
that they may apply in the government rules and/or cooperative. and
adopted community. corporation
accounting that
they may apply
in the adopted
community.
 FINAL EXAMINATION

VIII. Grading System

MIDTERMS FINALS
CLASS STANDING 30% CLASS STANDING 30%
QUIZZES 30% QUIZZES 30%
MIDTERM EXAM 40% FINAL EXAM 40%

MIDTERM GRADE 100% PRE-FINAL GRADE 100%

FINAL GRADE

MIDTERM 50% + PRE-FINAL GRADE 50% = 100%

IX. Course Policies:

Policies on attendance, tardiness and academic dishonesty are found in the Student Handbook.
In case of missed examination and assignments, the student is given the chance to make-up within a week from the day he/she reported,
 otherwise, it will be equivalent to 50%.
Students have to pass an Examination covering Acctg. 1 and 2.

X. Textbook:

Baysa and Lupisan, Accounting for Partnership and Corporation, 2005 edition

XI. References:

Manuel, Zenaida,, Accounting for Partnership and Corporation, 2004 Edition

Ballada, Win Lu, Partnership and Corporation Accounting (Made Easy), 2004 edition