Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
Bachelor of Science in Business Administration major in Financial Management
FUNDAMENTALS OF ACCOUNTING 1
1st Semester SY 2017-2018
Vision
Data Center College of the Philippines envision itself as one of the leaders in tertiary education in the country consistently producing graduates who are able to participate actively in local,
regional, and national development and who will be globally competitive to find employment here and abroad.
Mission
Pursuant to its vision, Data Center College of the Philippines is committed to nurture its physical, socio-cultural, and moral potentials of its students for their total development as human
beings, and to provide them with relevant and quality education in their fields of specialization to enable them to pursue competently their chosen profession with honor and dignity.
Institutional Objectives
An unwavering advocacy for the rights of its students for quality and relevant education, Data Center College of the Philippines has adopted the following objectives:
1. To promote a culture of life-long learning
2. To provide adequate and state-of-the-art instructional materials and facilities
3. To developed globally competitive graduates who can help address the needs and problems of the region
4. To employ qualified and competent faculty members and to continuously motivate them to upgrade their qualifications
Objectives of the Program
1. To provide a well-balanced education in liberal orientation and professional background in business and financial such that after graduation, they become a whole man who can live in
harmony with their fellowmen and practice their respective professions in conformity with the standards of integrity, work ethics, and in the spirit of their true professionalism.
2. To give adequate provision for a sound and up-to-date academic training for financial practitioners so as to enable them to adjust and cope with the complexities, innovations, and
challenges in business operations brought about by the advances in technology, industry, market evaluation and finance.
3. To furnish enough opportunities to develop their technical skills, leadership potentials and personality traits, wholesome living and social consciousness with a deep sense of commitment
to national welfare, and an active involvement in the socio-economic progress of the country.
4. To develop the mental toughens of students to meet the requirements of the course, and to provide reinforcement to maintain their interest in their chosen career in the financial field.
5. To insure intellectual training to make them a more dynamic and accessible instrument for promoting social consciousness; to make them real and effective mechanisms for the
advancement of equality among men, thus serving to remove prejudicial forcers that tend to impede or hamper harmonious local, national, and international development.
Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
Degree Program: Bachelor of Science in Business Administration major in Financial Management
Course Code: Acctng 1
Prerequisite: None
Course Title: Fundamentals of Accounting 1
Credit Units: 3 units
Total Number of hours: 54 hours
Lecture: 3 units
Laboratory: 0
Total Number of Hours per week: 3 hours
Course Description
This course will cover introduction to financial accounting within the context of business and business decisions. It will explore the development of accounting information and the
use of various types of accounting information found in financial statements and annual reports. It will emphasize what accounting information is, why it is important and how it is used by
economic decision makers. Specifically, it will cover introduction to business and decision making, basic structure and development of useful accounting information, understanding the
basic financial statements cash (balance sheet, income statement, statement of owner’s equity, and statement of cash flows) forms of outside assurance on financial statements; and analysis
of accounting information.
Course Objectives
General Objective/s:
At the end of the course, the students are expected to have achieved a significant understanding of the concepts, principles and procedures of accounting for service and
merchandising concerns.
Specific Objectives:
Specifically, the students must be able to:
1. Cognitive.
Recall concepts and principles of accounting as applied to the construction of financial information for decision-making.
2. Affective
Demonstrate skills in recording, classifying and summarizing accounting data for the purpose of financial statement preparation.
Describe the importance of basic accounting principles and procedures leading to the construction of financial information for decision-making.
Uphold the values of honesty and objectivity in the accounting profession.
3. Psychomotor
Perform the recording, classifying and summarizing of accounting data
Apply the skills in systematic problem solving.
Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
Course Requirements
• Class attendance
• Quizzes
• Class participation
• Major examinations
• Reports
• Completing the accounting cycle
• Assignments
• Activities
Methodology
The teaching methodologies to be used will be the lecture, class discussions, exercises and short problem-based illustrations.
Grading System:
Prelims Midterms Finals
Steps: Steps: Steps:
Determine Prelim grade Determine the Midterm Grade Determine the Final Grade
PG = (CS x 2) + PE MG = (CS x2) + ME + PG FG = (FE x2) + CS + MG
3 3 3
2 2
Course Content
Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
Time Evaluation
Learning Contents/Tasks Learning Outcomes Teaching Strategies Instructional Aids
allotment techniques
I. Orientation: The students are expected to: Discussion of the Visual aids Class Participation
a) Overview of the syllabus and the 2 Hours 1) Discuss course objective, content course outline (Posters, Info. Bulletin, Memorization
course content and requirements Present and discuss others. Rules and
b) Vision Mission, Goals and 2) Relate the course to the mission, the VMGO of DCCP Regulations Manual
Objective vision and goals of the college and Set house rules
c) Setting House Rules the program objectives collaboratively
d) Grading System 3) Formulate the house rules to the Getting to know each
e) Setting Expectations students. other through self-
4) Set performance expectation introduction
React, ask questions
about the syllabus and
any comments on the
house rules.
I. Basic Features of At the end of the chapter, the students
Accounting are expected to:
a) Definition nature and scope of 1) Identify the roles of business in
accounting our economy and the basic
b) Relationships of accounting to accounting principles/concepts
Lecture- Discussion
other fields of discipline Books Quizzes, Tests,
9 hours Question and answer
c) Forms of business organizations situational Problems Seatwork
and their activities
d) Opportunities in accounting
profession
e) Basic Accounting concepts
II. The SFP – Assets, liabilities At the end of the chapter, the students Books
Recitation
& Owners equity are expected to: Lecture-Discussion Illustrative/
Quizzes Homework
a) Forms and contents of balance 4 hours 1) Enumerate the three basic Assigned readings Demonstration
Board Work
sheet elements of accounting. Problem solving Problems
Tests
b) The accounting equation. 2) Analyze the accounting equation Exercises
III. The income statement – 3 hours At the end of the chapter, the students Lecture-Discussion Books Recitation
Revenue and expense are expected to: Assigned readings Illustrative/ Quizzes Homework
Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
a) Forms and contents of income 1. Determine revenues, expense, net
statements income and net loss.
2. Identify revenue and expense
Demonstration
items Board Work
Problem solving Problems
3. Analyze the result of business Tests
Exercises
operations
4. Present accounting elements of
financial reports.
PRELIMINARY EXAMINATION 1 hour
IV. The statement of changes in At the end of the chapter; the students
owner’s equity. are expected to: Books
Lecture-
a. Forms and contents of 1. Determine changes in Illustrative/ Quizzes
Discussion
statement capital 2 hours owner’s equity Demonstration Tests
Assigned readings
2. Present changes in Problems Homework
Problem solving
owner’s equity in financial report Exercises
V. Business Transactions and At the end of the chapter; the students
events for a service concern are expected to:
a) Nature of business transactions 1. Identify the Books
and events commonly used accounting terms, Lecture-Discussion Illustrative Recitation
b) Business forms and documents typical business forms and Assigned Readings /Demonstration Quizzes
c) The Account 6 hours documents. Question and Answer Problems Tests
d) Analyzes the transactions and 2. Explain Problem Solving Exercises Long Exam
effects on the accounting business transactions through the use Cases Board work
equation (elements) of accounting equation
e) Rules of debit and credit
VI. General Journal, General 7 hours At the end of the chapter; the students Lecture-Discussion Books Recitation
Ledger and Trial Balance (of a are expected to: Assigned Readings Illustrative/ Quizzes
Service Business) 1. Enumerate the generally accepted Question and Answer Demonstration Tests
a) Journalizing accounting principles supporting Problem Solving Problems Long Exam
Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
b) Posting to the ledger their analyses.
c) Preparation of trial balance 2. Apply the rules of debit and credit.
d) Introduction to adjusting entries- 3. Apply skills in journalizing,
supplies, depreciation and posting to the ledger and
doubtful accounts preparation of worksheet and
Exercises/Cases Board work
e) Preparation of fin. statements financial statements
from adjusted trial balance
f) Introduction to worksheet
preparation-its importance and
mechanics
VII. Bookkeeping illustration At the end of the chapter; the students
for a service concern. are expected to:
1. Relate the importance of Basic Actual demonstration Financial Statements
2 hours Bookkeeping to adapted Board, calculator, pen
community.(Service Business)
1 hour
MIDTERM EXAMINATION
VIII. Business 8 hours At the end of the chapter; the students Lecture-Discussion Books Recitation
Transactions/events for a are expected to: Assigned Readings Illustrative/ Quizzes
merchandising concern 1. Determine sales and net Question and Answer Demonstration Tests
a) Business forms and documents purchase Problem Solving Problems Long Exam
b) Recording of merchandising Exercises Board work
business transactions in the Cases
general journal, posting to the
ledger and preparation of trial
balance
c) Initial investment, additional
investment, withdrawal (cash, not
cash)
d) Assets and merchandise
acquisitions with trade discounts,
returns and allowances and cash
discounts
Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
e) Sale of merchandise with the
trade discounts, returns and
allowances and cash discounts
f) Sale of other assets with gain or
(loss)
IX. Completion of accounting At the end of the chapter; the students
cycle are expected to:
a. Year-end adjustment 1. Discuss the different steps
(accrual basis) to complete the accounting cycle.
b. Worksheet
Quizzes
preparation Books
Lecture-Discussion Tests
c. Financial statements Demonstration
Assigned readings Long Exam
presentation 9 hours problems
Question and answer Seatwork
d. Journalizing of Exercises
Problem solving Board work
adjusting entries Practice sets
e. Journalizing of
closing entries
f. Post-Closing Trial
Balance
g. Reversing Entries
1 hour
FINAL EXAMINATION
References:
1. Peter, S. ( 2012)Accounting for business: An integrated print and online solution
2. Valencia, Edwin., Roxas, Gregorio. Basic Accounting, (2009) 3 rd Edition. Valencia Educational Supply
3. Ballada, Win Lu, Basic Accounting (Made Easy) 2004 Edition
4. Warren, Reeve and Fess, Accounting, Twentieth Edition (2002)
Selected Readings:
1. Vera Cruz, Manuel, Z.., Accounting Process 2000 and Beyond, 2005 Edition
Prepared by:
CASSANDRA B. PARAGGUA, MBA
Data Center College of the Philippines of Laoag City, Inc.
The College of Information Technology
A.G. Tupaz cor. M.V. Fariñas Sts. Brgy. 8 San Vicente
Laoag City
Professor
Noted by:
VICENTE A. BONOAN, Ph.D.
Vice President for Academic Affairs
