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Republic of the Philippines

LUNA COLLEGES, INC.
Tayug, Pangasinan

COURSE SYLLABUS
Firstt Semester, S.Y 2019 – 2020

COURSE INFORMATION
COURSE CODE ACCTG 1
COURSE TITLE FUNDAMENTALS OF ACCOUNTING
CREDIT UNITS 6 units
VISION, MISSION, GOALS AND OUTCOMES

VISION It envisions to create a community that is technologically, socially and spiritually equipped to face the challenges of the changing world.

MISSION It is tasked to prepare the STUDENTS with the best that EDUCATION can offer in manner that is consistent with the needs of modern SOCIETY.

INSTITUTIONAL The Luna Colleges, Inc. Institutional Learning Outcomes (LC ILO) are the qualities that Lunarians must possess. These outcomes are anchored on the core
LEARNING OUTCOMES values of accountability, credibility, competence, social and community involvement, and spirituality.

COURSE DESCRIPTION

The course is designed to give students a thorough background in the basic accounting procedures used to operate a business. The accounting procedures presented will also serve as a sound
background for employment in office jobs and preparation for studying business courses in college. Students will become acquainted with the principles of double entry bookkeeping including
the preparation of financial statements for sole proprietorship, partnership and corporate businesses.

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LEARNING OBJECTIVES

A significant number of graduates in Finance and Accounting work in contact with accounting information. Their work often involves the preparation of financial statements and tax forms by
small and medium size companies.

The main objective of the course Fundamentals of Accounting is to help students understand fundamental accounting concepts and principles, as well as to develop the capability to perform
the basic accounting functions: the recognition, valuation, measurement and recording of the most common business transactions and the preparation of accounting statements.

ISSUES OBJECTIVES
1. Introduction to Accounting I. To Introduce students to Accounting, stressing its importance in today’s business world.
2. Assets, Liabilities and Equity: The Accounting Equation II. To help students understand the main concepts and principles of Accounting
3. The Recognition of Accounting Transactions, Accounts and the Accounting books
III. To provide students with a theoretical basis upon which they will develop their
4. Calculating Accounting Earnings
knowledge in other areas of accounting.
5. The Accounting Cycle

COURSE CONTENTS
1. ACCOUNTING AS AN INFORMATION SYSTEM
1.1. Business activity: companies.
1.2. Concept and classification of accounting.
1.3. Users of accounting information.
1.4. Requirements of accounting.
2. ASSETS, LIABILITIES AND EQUITY: THE ACCOUNTING EQUATION.
2.1. Definition of Balance Sheet.
2.2. Components of Balance Sheets: assets, liabilities and equity.
2.3. Assets.
2.4. Liabilities and stockholders equity.
3. ACCOUNTING INSTRUMENTS.
3.1. Business transactions.
3.2. Companies´ wealth.
3.3. The Accounting Equation.
3.4. Accounting tools.
3.4.1. The account.

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3.4.2. The Double-Entry System.

3.4.3. The accounting books.
3.5. The annual accounts.

4. CALCULATING ACCOUNTING EARNINGS.

4.1. The concept of earnings.
4.2. Business transactions, fund flows and cash flows.
4.3. Revenues, expenses, gains and losses.
4.4. Accounting for revenues and expenses.
4.5. Components of the Income Statement.
5. ACCOUNTING FOR INVENTORIES.
5.1. Administrative approach.
5.2. Multiple-account approach.

6. THE ACCOUNTING CYCLE.

6.1. Phases in the accounting cycle.

6.2. The output of the accounting function: the Annual Accounts

GRADING SYSTEM

Student must at least obtain 60% passing score or better in order to pass the course. Course work is weighted as follows:

Major Examinations 40%

Quizzes 30%
Recitation / Classroom Participation 25%
Attendance 5%
TOTAL 100%

Option 1: Continuous assessment.

a) First mid-term test (40%).

b) Second mid-term test (60%).

Option 2: Official exam (100%).

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Major Examination

Customarily, the exam will be closed notes. If you are going to miss a major exam, it is your responsibility to alert your instructor prior to exam schedule. Failure to do so will result in an exam grade of zero.

Quizzes

Three to five quizzes (be it announced or unannounced) will be given for each term ideally. A make-up quiz is allowed if and only if one could secure an excuse letter duly signed by the guidance counselor, parents
or physician. Make-up quizzes shall be done not later than two days after you return from class.

Recitation/Classroom Participation

Every class discussion requires students’ participation so as activities. It will be based on class/group collaboration and on the announced means of evaluation. The rate will come from individual, group and
instructor’s assessment.

Attendance

Students are encouraged to attend classes regularly. Attendance and punctuality are considered a requirement in the classroom. Coming in late or leaving early disrupts the class and exhibits disrespectful and
unprofessional behavior to the instructor and fellow classmates. Therefore, such type of behavior should be avoided to the extent possible. During the year, professors will make several quiz tests to assess
students’ performance.

CLASSROOM POLICIES

1. Attendance is checked regularly. Late comers will not be admitted after 15 minutes.
2. Students should wear decent clothing and should exemplify the manners of an educated person.
3. Electronic devices (cell phones, iPods, etc.) need to be turned off or muted during class.
Important calls may be answered provided that it would not take longer than five minutes.
4. Requirements for the subject should be submitted on time. Late submissions will be subjected to appropriate consequences.
5. Students who are cheating or plagiarizing materials in the course will not receive credit for the assignments, projects or tests which will likely lead to failure in the course.
6. Food and beverages are not permitted in the class.
7. A student who exhibits dishonest, disruptive or disrespectful behavior risk suspension or expulsion from the institution.

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COURSE REFERENCES AND SUPPLEMENTAL READINGS

BASIC MATERIALS
- Cases prepared by the faculty of the Department of Accounting and Financial Economics of
the University of Seville.
- Arquero Montaño, J.L., Jiménez Cardoso, S.M. & Ruiz Albert, I. (2008): Introducción a la
contabilidad financiera, Pirámide, Madrid.
ADDITIONAL MATERIALS
- Gallego Diez, E. & Vara yVara, M. (2007): Manual práctico de Contabilidad financiera
(Pirámide: Madrid).
- Larrán, Jorge M. et al (2009): Fundamentos de Contabilidad financiera. Teoría y práctica
(Pirámide: Madrid).

INSTRUCTOR’S CONTACT INFORMATION

PASTOR NICOLAS A. SECUYA

NAME
OFFICE OF THE COLLEGE DEAN
OFFICE

MOBILE NUMBER

EMAIL

LUNA COLLEGES. INC.