UNIVERSITY OF MAKATI

J.P. Rizal Ext. West Rembo, Makati City

COURSE OUTLINE

COLLEGE OF BUSINESS AND FINANCIAL SCIENCE

DEPARTMENT OF ACCOUNTING AND FINANCE

COURSE TITLE COURSE CODE

CONSTRUCTIVE ACCOUNTING ACCTG 15A

COURSE PREREQUISITE/CO-REQUISITE UNITS

ACCTG 5 3

COURSE DESCRIPTION
This course is designed to develop student’s knowledge and understanding of the underlying concepts and
principles related to the preparation and presentation of financial statements of a reporting entity as well as
its applicable reporting framework. It presents topics to provide fundament concepts of the presentation of
financial position, comprehensive income, statement of changes in equity, statement of cash flows and notes
to financial statements. This course also covers single entry, cash and accrual basis of accounting, error
correction, accounting changes, noncurrent asset held for sale, discontinued operation, interim financial
reporting, segment reporting, hyperinflation and current cost accounting. In addition, this course also
includes the discussion of the reporting standards applicable to Small and Medium-sized Entities (SMEs).
COURSE INTENDED LEARNING OUTCOMES
As an outcome of this course, students will be able to:

1. Understand and identify the applicable financial reporting framework for a reporting entity.
2. Learn the basis of the preparation and presentation of financial statements.
3. Develop working knowledge in the application of various financial accounting and reporting
standards.
4. Prepare annual financial statements in accordance with the applicable financial reporting framework.
5. Demonstrate team collaboration, leadership and critical thinking.

WEEK SESSION CONTENT

01.1 Course and class introduction
01.1.1 Getting to know
1 1 01.1.2 Discussion of classroom policy and culture
01.1.3 Course syllabus
01.1.4 Grading System
02.1 Development of Financial Reporting Framework
02.1.1 Financial Reporting Framework
2 1 02.1.2 Basic Objectives of Financial Statements
02.1.3 General financial reporting requirement (SRC Rule 68, as amended)
02.1.4 Types of reporting entity as per SRC Rule 68
03.1 Presentation of Financial Statements (PAS 1)
03.1.1 General features of Financial Statements
03.1.2 Statement of Comprehensive Income
3-5 1
03.1.3 Statement of Cash Flows
03.1.4 Statement of Changes in Equity
03.1.5 Notes to the Financial Statements
04.1 Events after reporting period (PAS 10)
04.1.1 Adjusting and non-adjusting events
6 1
04.1.2 Financial statements authorized for issue
04.1.3 Disclosure requirement
05.1 Related Parties Disclosures (PAS 24)
05.1.1 Related parties
7 1 05.1.2 Related party transactions
05.1.3 Key management compensation
05.1.4 Disclosure requirement

The CCMD acknowledges all academic efforts and serves as a repository of academic learning plans of the teacher-contributor and the department chair-editor.
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 UNIVERSITY OF MAKATI
J.P. Rizal Ext. West Rembo, Makati City
06.1 Interim Financial Reporting (PAS 34)
06.1.1 Purpose
8 1 06.1.2 Principles for Recognition
06.1.3 Minimum content of an interim financial report
06.1.4 Selected explanatory notes

9 1 07.1 Midterm Departmental Examination

10 1 08.1 Assets Held For Sale and discontinued operations (PFRS 5)

08.1.1 Classification criteria
08.1.2 Initial and subsequent measurement principles
08.1.3 Presentation and disclosures
11 1 09.1 Accounting Changes (PAS 8)
09.1.1 Selection and application of accounting policies
09.1.2 Change in accounting policy
09.1.3 Change in accounting estimate
09.1.4 Errors
09.1.5 Treatment and disclosure requirement
12 1 10.1 Operating Segment (PFRS 8)
10.1.1 Identification of segments
10.1.2 Measurement of segment information
10.1.3 Disclosure requirement
11.1 Cash to Accrual
11.1.1 Purpose
13-14 1 11.1.2 Single-entry computation of profit
11.1.3 Reconciling profit using the transaction approach
11.1.4 Convert cash basis to accrual basis
12.1 Statement of Cash Flows (PAS 7)
12.1.1 Fundamental principle
15 1
12.1.2 Presentation of the Statement of Cash Flows
12.1.3 Direct and indirect method
13.1 Hyperinflation and current cost accounting
13.1.1 Financial reporting in a hyperinflationary economy
16 1
13.1.2 Preparation of current cost income statement
13.1.3 Preparation of current cost statement of financial position
13.1 PFRS for Small and Medium Sized Entities
13.1.1 Reporting Requirements
17 1 13.1.2 Peculiarities
13.1.3 Principles for reporting investments in equity and debt securities
13.1.4 PFRS on Micro Enterprises

18 1 14.1 Final Departmental Examination

REQUIRED READINGS (TEXTBOOK)

Financial Accounting Three – 2018 edition by Valix, Peralta and Valix

SUGGESTED READINGS

Intermediate Accounting Three – 2017 edition by Robles and Empleo.

Financial Accounting, 10th Edition - Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
Practical Accounting 1 Reviewer

COURSE REQUIREMENTS

Active Participation/Recitation
Assignment/Group Activity
Examinations/Quizzes/ Seatwork

The CCMD acknowledges all academic efforts and serves as a repository of academic learning plans of the teacher-contributor and the department chair-editor.
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 UNIVERSITY OF MAKATI
J.P. Rizal Ext. West Rembo, Makati City
GRADING SYSTEM

Midterm grade (50%) + Final Term (50%) = Course Grade

CLASSROOM POLICIES
1. Students should attend every class meeting, on time and prepared, and should remain in class for the
duration of the class period. Only 3 unauthorized absences are allowed.
2. Students are responsible for all material and assignments missed because of absence or lateness.
Missed examination is allowed to take if valid reason was provided.
3. No cheating rule. Conversation during the examination is equivalent to cheating.
4. The student is expected to treat the instructor and his/her fellow students with respect and courtesy at all
times. No discrimination is allowed. Observe inclusiveness.
5. Every student is expected to have an understanding and idea of the topics beforehand.
6. Examinations will be announced.
7. Open door policy. Learning is the primary concern; questions and doubts must be raised and discussed.

CONSULTATION HOURS

EVERY Tuesday 05:00PM-06:00PM. Best for students to set appointment with faculty prior to consultation.

COURSE PROGRAM
BACHELOR OF SCIENCE IN MANAGEMENT ACCOUNTING
COURSE TITLE SCHEDULE TIME ROOM
CONSTRUCTIVE
TUESDAY 06:00PM-09:00PM HPSB 608
ACCOUNTING
FACULTY DEPARTMENT HEAD COLLEGE SECRETARY DEAN
PROF. KRISTOFFERSON PROF. NEMESIO
JULIUS R. ALA DEAN BERNIE BALMEO
DELA CRUZ BARBOZA

The CCMD acknowledges all academic efforts and serves as a repository of academic learning plans of the teacher-contributor and the department chair-editor.
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