DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION

Sta. Filomena, Dipolog City

SCHOOL OF BUSINESS AND ACCOUNTANCY

SCOPE AND SEQUENCE

PHILOSOPHY OF DMC-CFI EDUCATION

Dipolog Medical Center College Foundation, Inc. maintains that full development of a persons
potentials depends largely on the nature, level and suitability of stimuli and the challenges he encounter
in daily life. The role of DMCCFI as institution is such that it serves as a rich interactive environment
where the student is continually encouraged, motivated, and more importantly, challenged to produce
the optimal use of his innate and acquired skills.

SCHOOL VISION

Our vision is to be a leading educational institution, highly regarded for our commitment to
students; distinguished for excellence in instruction as responsive to the communities we serve.

SCHOOL MISSION

Guided by our vision, Dipolog Medical Center College Foundation will become a premier
educational institution through: quest for excellence, academic and professional competence, advance in
information technology, community involvement, working partnership, global perspective and over-all
learning experience.

GENERAL OBJECTIVES OF SCHOOL OF BUSINESS AND ACCOUNTANCY

The DMC College Foundation School of Business and Accountancy has the following objectives:
1. To mold all students to become computer literate, socially responsible, globally aware, analytical,
and reasonable decision-making individuals who are competent in interpersonal, oral and
written communication skills.
2. To produce graduates who are well-versed in the fundamental economic and business principles,
as well as the practical application of those principles in the simulated business setting.
3. To design our educational programs in ways that prepares students or leadership roles in the
dynamic, domestic and global.
4. To deliver business professional who will be perceived not just business managers but leaders in
the society.
5. To constantly update the curricula of the different programs to prepare students to adapt to the
rapidly changing technology and to recognize diversity in the work place.
6. TO ensure that faculty members are responsible, committed and qualified in their respective
fields or profession.
7. To promote among the faculty members integrity, professionalism and compliance to the latest
trends, standards and developments in their chosen field of expertise.
8. To emphasize social responsibility as one of the business cores in nurturing well-rounded
business professionals of the future.

COURSE CODE : ACCY 9

 DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

COURSE TITLE : DEVELOPMENT AND ENHANCEMENT IN ACCOUNTING:

THEORY AND PRACTICE
CREDIT UNIT : 3 UNITS
LECTURE HOUR PER WEEK : 3 hours

I. COURSE DESCRIPTION

This is a review course for the graduating BSA students. It covers one CPA board examination subject,
the Theory of Accounts (TOA). This course is a preparation for the students actual review after
graduation. This is a theoretical approach of Practical Accounting 1 and Applied Auditing and it
focuses on the review of conceptual framework, and the accounting standards such as Philippine
Accounting Standards, Philippine Financial Reporting Standards and International Financial Reporting
Interpretation Committee Interpretations.

II. COURSE OBJECTIVES

At the end of this course, students must be able to:
1. Have a sound knowledge and firm foundation on the generally accepted accounting
principles, rules and methods applicable to the recognition, measurement, valuation and
presentation of assets, liabilities and stockholders equity.
2. Integrate all related principles to have a firm foundation and appreciation of financial
accounting theory and fair application of such theory
3. Appreciate the need for a fair and reliable financial reporting on assets, liabilities,
stockholders equity, revenue and expenses, as they affect the economic decisions of the
financial statement users.
4. Realize that the compliance and adherence to the application of Philippine Accounting
Standards and Philippine Financial Reporting Standards will lead to the proper presentation
of Financial Statements.
5. Point out the importance of compliance to the application of Philippine Accounting
Standards and Philippine Financial Reporting Standards will lead to the proper presentation
of Financial Statements.

III. METHODOLOGY
Interactive discussions, oral recitations, pre-tests and post-tests.

IV. MEDIUM OF INSTRUCTION

English, Filipino and Cebuano are the medium of instruction in this course.

V. COURSE OUTLINE TIME FRAME

1. Orientation Week 1
1.1 Review of DMCCFI Philosophy of Education
1.2 Overview of the course description, citing significance
And integration in the context of DMCCFI Philosophy
Of education

2. Introduction to PFRS Week 1

3. Conceptual Framework Week 2

 DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

4. Presentation of Financial Statements Week 2

4.1 PAS 1 (revised 2007 with amendments)

5. Revenue Week 3
5.1 PAS 18

6. Inventories Week 3
6.1 PAS 2 (Revised)

7. Agriculture Week 4
7.1 PAS 41
7.2 PFRS 13

PRELIMINARY EXAMINATION Week 4

1. Property, Plant and Equipment Week 5

8.1 Initial Measurement
8.2 Subsequent Measurement
8.3 Derecognition
8.4 Revaluation
8.5 PAS 16

2. Investment Property Week 5

9.1 Initial Measurement
9.2 Subsequent Measurement
9.3 Derecognition
9.4 Revaluation
9.5 PAS 40
9.6 PFRS 13

8. Intangible Assets Week 6

10.1 Initial Measurement
10.2 Subsequent Measurement
10.3 Derecognition
10.4 Revaluation
10.5 PAS 38

9. Accounting for Government Grants and Disclosure of Government Assistance Week 7

11.1 PAS 20

10. Borrowing Cost Week 7

12.1 PAS 23 (revised 2007)

11. Noncurrent Asset held-for-sale and Discontinued Operations Week 7

PFRS 5

MIDTERM EXAMINATION Week 8

 DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

12. Impairment of Assets Week 9

14.1 PAS 36
14.2 PFRS 13

13. Leases Week 9

15.1 PAS 17

14. Employee Benefits Week 10

16.1 PAS 19R

15. Income Taxes Week 10

17.1 PAS 12

16. Statement of Cash Flows Week 11

18.1 PAS 7

17. Accounting Policies, Changes in Accounting Estimates and Errors Week 11

19.1 PAS 8

SEMIFINAL EXAMINATION Week 12

18. Earnings Per Share Week 13

20.1 PAS 33

19. Operating Segments Week 13

21.1 PFRS 8

20. Related Party Disclosures Week 14

22.1 PAS 24R

21. Events after Reporting Period Week 14

23.1 PAS 10

22. Interim Financial Reporting Week 14

24.1 PAS 34

23. PFRS for SMEs Week 15

25.1 PFRS for SMEs

FINAL EXAMINATION Week 15

VI. REFERENCES

Financial Accounting volumes 1, 2 and 3

By: Conrado T. Valix, Jose Peralta, Christian Aris Valix

Theory of Accounts 1 and 2

 DIPOLOG MEDICAL CENTER COLLEGE FOUNDATION
Sta. Filomena, Dipolog City

By: Conrado T. Valix

VII. EVALUATION PROCEDURES

CLASS PARTICIPATION/ QUIZZES 40%
ATTENDANCE 10%
PROJECTS/ ASSIGNMENTS 10%
MAJOR EXAMINATION 40%
TOTAL 100%

DATE REVISED: January 2016

PREPARED BY: Gina Lou M. Cacho, CPA

CHECKED BY: MRS. RACHELL-ANN B. BULJATIN, CPA

OIC-Dean, School of Business and Accountancy

APPROVED BY: Dr. DINO JOEY L. CORDOVA

Dean of Instruction/ VP for Academic Affairs