Republic of the Philippines

EASTERN MINDANAO COLLEGE OF TECHNOLOGY

Broca Street, San Jose, Pagadian City, Zamboanga del Sur
Tel. No. 2144171 / 2154258 / 9253274

VISION
EMCOTECH is a leading higher education institution in the development of new breed
globally competitive Filipino leaders and workers with positive work values through
market-driven quality instruction.

I. COURSE NUMBER : AE 208

II. COURSE TITLE : Intermediate Accounting 1

Time Allotment per week : 3 hrs.

Pre-requisite : Financial Accounting and Reporting

III. COURSE DESCRIPTION: This course is first in the series of intermediary accounting
requirements for the Management Accountancy Program. This
course focuses on financial instruments framework, accounting
for financial assets, non-financial assets and other non-
financial assets including investment property, exploration for
and evaluation of mineral resources and non-current assets
held for sale and discontinued operations and all the applicable
requirements in its reporting based on established and
generally accepted financial reporting standards.

IV. COURSE LEARNING OUTCOMES:

Upon completion of the course, the students will be able to:

A. Cognitive
1. Recognition of the nature of liabilities, distinguish provisions from contingent
liabilities by applying the recognition criteria for liabilities;
2. Cite the advantage of debt financing over equity financing;
3. Describe the nature of corporation by distinguishing it from other forms of
business organizations;
4. Describe the nature of leases and determine whether a contract contains a lease;
5. Identify required disclosures relating to the lease transactions in the financial
statements of both the lessee and the lessor
6. Recognize current income tax from taxable income and tax consequences of
temporary differences between accounting income and taxable income.
7. Identify the required disclosures related to income tax.
8. Describe the nature and categories of employee benefits.
9. Identify t
10.
11. he required financial statement disclosures pertaining to employee benefits.

B. Psychomotor
1. Present current liabilities on the face of the financial statements and identify
required disclosures in the notes;
2. Describe the nature of contingent assets and identify disclosure;
3. Journalize transactions relating to bonds payable and long term notes payable;
4. Compute carrying amount of bonds payable and long term notes payable to be
presented in the statement of financial positions
5. Account for different forms of troubled-debt restructuring;
 6. Record share capital transactions and transactions relating to share rights, share
warrants, share options and share appreciation rights;
7. he resulting liability or asset under both the defined contribution plan and defined
benefit plan;

C. Affective
1. Ability to conform to all the applicable requirements of established
International Accounting Standards (IAS), International Financial Reporting
Standards (IFRS) and International Financial Reporting Interpretation
Committee (IFRIC).
V. A. REQUIRED TEXTBOOKS:
1. Philippine Accounting Standards (PAS) and Philippine Financial Reporting Standards
issued by FRSC;
2. International Accounting Standards (IAS) and International Financial Reporting
Standards (IFRS) ISSUED BY IASB
3. SIC and IFRIC issued by IASC and IASB
4. PIC Questions and Answers prepared by PIC and approved by FRSC

B. REFERENCES:
1. Intermediate Accounting, Vol. 1; by Valix, Valix and Peralta
2. Partnership and Corporation Accounting
3. Financial Accounting and Reporting; by Cabrera and Ocampo

VI.REQUIREMENTS OF THE COURSE:

A. Accounting researches/news articles on topics included in the course
B. Submission of assigned case problems solution

ASSESSMENT OF
LEARNING STRATEGIES/
WEEK HOURS TOPIC LEARNING
OUTCOME ACTIVITIES
OUTCOMES
1 3 hours