Phinma - University of Iloilo

Syllabus

PEN Code: ACC082 Credit: 3 units

PEN Subject Title: Basic Accounting for HM and TM Prerequisite: None

1. Subject Description:
This course deals with the certain principles of accounting and accounting practices useful in hotel and restaurant and the
tourism industries. Emphasis is put on the process of generating financial statements and using the financial statements in decision
making.

2. Objectives: (students should be able to :)

a. Understand the principles of accounting and relate its importance to hotel and restaurant management and tourism management.
b. Appreciate the importance of accounting in decision making in the industry.
c. Understand the process of generating financial statements.
d. Use the financial statements in the decision-making process.

3. Subject Outline and Time Allotment

Chapters Topics Schedule

Introduction of Accounting in  The CPA and the Accounting Profession Day 1-2
Business  Formation of Business
 Business Activities
 Financial Reports and their Users

Accounting Principles and  Fields and Areas of Accounting Day 3-4

Concepts  Regulating the Practice of Accountancy
 The Accountancy Act of 2004
 Accounting Principles and the Qualitative Characteristics of FS
 Ethical Standard
 Social Responsibility and Inherent Qualities
 Internal Auditing

Accounting Principles,  GAAP Day 5-7

Accounts, and Accounting  The Accounting Structure of a Business
Equation  Accounting Values and the Balance Sheet

Debit and Credit Principles and
Journalization –Service
Concern
 The Accounting Cycle Day 8-11
 Documentation
 Chart of Accounts
 Journalizing and the Rules of Debit and Credit
 Posting and the Ledgers

First Periodical Exam Day 12

Financial Statement  The Financial Statements Day 13-14

 Objectives of General Purpose FS
 Forms of Financial Statements

This syllabus is standardized and the required syllabus for the CMA Department.
Accounting for Merchandising
Business
 The Merchandising Business Day 15-17
 Transactions Specific to Merchandising Business
 Service Business and Merchandising Compared
 Accounting for Inventory
 Financial Statements of Merchandising Business

Recording Selected Business  Investments of the Owner Day 18-20

Transactions  Purchase of Property
 Owner’s Drawing
 Recording of Other Transactions

Accounting for Manufacturing  The Manufacturing Business Day 21-23

Business  Costs in Manufacturing Business and Cost Accounting
 Periodic Inventory System
 Reporting Results of Operations
 Statement of Cost of Goods Sold

Second Periodical Exams Day 24

Adjusting Entries  Accrual Method for Income and Expenses Day 25-27

Preparation of Worksheet  Preparing the FS Day 27-30

 Posting to the Ledger

Recording of Closing and  Steps in Recording Closing Entry Day 31-32

Reversing Entries  Transfer Accounts to the Next Accounting Period
 Double-Ruled Accounts
 Preparing a Post-closing Trial Balance
 Recording of Reversing Entries

Accounting System: Special  Combination Journal Day 33-35

Journals  Special Journals

Third Periodical Exams Day 36

4. Books and References: Accounting for Hotel and Restaurant Management and Tourism Industry by Bartolome R. Urbano
5. Course Requirements/Components: Attendance, Quizzes, Recitation, Seatworks, Boardworks, Periodical Exams
6. Grading System: Formula: FG = (33% x FPG)+(33% x SPG) + (34% x TPG)
Where: FPG is first periodical grade; SPG is second periodical grad; TPG is third periodical grade;
7. Contact Information:
Professor: __________________________
Mobile No.: ________________________
E-mai Address: ______________________

This syllabus is standardized and the required syllabus for the CMA Department.