UNIVERSITY OF THE PHILIPPINES

College of Business Administration

Department of Accounting and Finance
Summer Term, AY 2012-2013
Instructor
DANI ROSE SALAZAR
Email Address
drcsalazar@yahoo.com
Room Number
201-D
COURSE SYLLABUS
BA 118.2 ADVANCED ACCOUNTING II
BA 118.2 is the second course of the Advanced Accounting series. Prerequisite to this course
are the BA 114 series of courses (Intermediate Accounting). BA 118 goes beyond simple
manufacturing operations under a corporate set-up covered in BA 114. In BA 118.2, the
manufacturing operations assumption is relaxed by applying fundamental accounting theory to
specific business transactions. Fundamental accounting theory will be applied to special
transactions like financial derivatives, special revenue recognition principles, etc.
COURSE OBJECTIVES
At the end of this course, the students will be equipped with financial accounting concepts
related to special organizations/entities. More importantly, their ability to solve complex
accounting problems and resolve accounting issues shall be developed. This course also
prepares the students to hurdle the Practical Accounting II and Fundamental Accounting Theory
subjects of the Certified Public Accountancy Licensure Examinations.
TOPIC OUTLINE
Introduction to BA 118.2
Module 1: Revenue Recognition
Effects of Changes in Foreign Currency
Foreign Currency to Functional Currency
Functional Currency to Presentation
Currency
Revenue Recognition
Accounting for Installment Sales Contracts
Full Accrual Method
Installment Method
Cost Recovery Method
Repossession
Accounting for Commercial Franchise Operations
(point of view of Franchisor)
Accounting for Long-Term Construction Contracts
Percentage of Completion Method
Cost Recovery Method
Revenue Barter Transactions
Transfer of Non-Cash Assets from Customers
Customer Loyalty Programs
Accounting for Service Concession Agreements
IFRS for SME:
Effects of Foreign Currency Changes

IAS 21

1 session

IAS 18 (Revenue)

2 sessions

IAS 18 (Revenue)

1 session

IAS 11 (Construction
Contracts)

2 sessions

SIC 31
IFRIC 18
IFRIC 13
IFRIC 12
IFRS for SMEs

1 session

1 session
2 session

Revenue Recognition
Construction Contracts
Service Concession Agreements
Exam 1 (May 8, Wednesday)
Module 2: Financial Derivatives
Review of Accounting for Financial Instruments
Fair Value Through Profit or Loss
Available for Sale Securities
Held to Maturity Securities
Loans and Receivable
Accounting for Standalone Derivatives
Forwards / Futures
Swaps
Options
Accounting for Embedded Derivatives
Accounting for Derivatives held for Hedging
Cash flow hedge
Fair value hedge
Foreign Currency Derivatives
IFRS for SME:
Special Financial Instruments

IAS 39/IFRS 9
IAS 39

IFRS for SMEs

1 session

Module 3: Statement of Cash Flows

IAS 7

2 sessions

1 session

1 session

1 session
2 sessions

Exam 2 (May 22, Wednesday)

Final Examination (May 25, 2012, Friday)
The final grade shall be composed of the following:
Component
First Examination
Second Examination
Final Examination
Quizzes
Class Participation
TOTAL

Weight
25%
25%
35%
10%
5%
100%

Grading Scheme:
97-100
93-96
89-92
85-88
81-84
77-80
Important Reminders:

1.00
1.25
1.50
1.75
2.00
2.25

73-76
69-72
65-69
60-64.99
Below 60

2.50
2.75
3.00
4.00
5.00

1. Missed Quizzes, Homework, Class Participation.

There will be no make-up for quizzes, homework and class participation. The student gets a
score of zero if he/she is absent when such activities were done in class.
2. Missed Long Exams.

a. If you missed one examination for valid reason, your grade for the missed examination is
75% of the lowest long examination. Necessary documentation should be provided to
justify your reason for missing an exam.
b. If a student fails to take a long exam for health reason, a student will be allowed to take
a make up exam as long as the student informs the instructor before the exam starts.
The student will only be allowed to take a make-up exam upon submission of pertinent
documentation of the reason.
c. If the reason for missing a long exam is not valid, the missed exam shall be zero.
d. A student may miss only one (1) of the two (2) examinations given for the course,
whether his/her reasons are valid or not.
e. An INC will be given if the student can show proof of illness/hospitalization or other
valid reason. The instructor should be informed of the illness or hospitalization or valid
reason prior to or on the day of the exam and not later.
3. Missed Final Exam.
A student will be given a grade of INC if he/she is absent from the final examination or
neglects to submit any of the course requirements provided that his/her class standing is
passing. If the students absence in the final exam is unjustifiable and his/her class
standing is below 3.00, he/she will get a grade of 5.00 for the course, in accordance with
university rules.
4. Attendance.
a.
University rule on absences shall be enforced. (Max of 6 absences)
b.
Students who drop the course shall only be considered officially dropped
upon submission of the duly processed instructors copy of the Dropping Slip.
c.
If a student does not officially drop and fails to attend the remaining class
session and to take the exams without a valid reason, he will be given grade of 5.0 for
the course in accordance with University rules.
5. Only students who got a grade of 4.00 will be eligible for removal examinations. Students
who got a grade of 5.0 will not be allowed to take removal examinations. Students are
eligible to take the removal examination only once. THERE WILL ABSOLUTELY BE NO
RETAKE OF REMOVAL EXAMS.
6. Take note of the release of final grades and the period given for any corrections or
objections regarding grade recording and/or computations. (These will be announced during
the final exam.) Grades submitted after lapse of the Objection period will be final and
irrevocable.
7. Important Dates.
i.

May 13, 2013 - Deadline for Dropping

ii.

May 21, 2013 End of classes