MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES

4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING

MSTIP PHILOSOPHY
Godliness is the foundation of knowledge.
MSTIP VISION MSTIP GOALS
A community of administrators, teachers, parents, and students Goal 1. Provide high quality and responsive specialized academic programs relevant to the needs of industry integrating
working together to produce competent graduates and skilled values on Excellence, Compassion, and Integrity to produce top-notch and well-rounded graduates.
workers whose individual lives are improved and thus making
them productive members of the society. Goal 2. Maintain and develop a pool of qualified, multi-skilled and values oriented faculty and staff that are primary
MSTIP MISSION designers of learning methods, competencies and environment to produce lifelong learners.
To make quality education accessible to all people regardless of
social classes and financial capabilities providing them courses Goal 3. Redesign and ensure completeness and reliability of learning environment for effective and efficient delivery of
and disciplines comparative to those given in other Universities services taking into account integrity and accountability.
and Colleges.
MSTIPCORE VALUES Goal 4. Develop and strengthen mutually beneficial partnership/linkages both national and international for the promotion
 Leadership of industry relevant instruction, meaningful research and effective transmission of useful knowledge.
 Innovation
 Fellowship Goal 5. Provide relevant community extension programs in technology, education, health and livelihood skills towards
 Excellence poverty reduction and empowerment of the poor and marginalized.

Goal 6. Produce and conduct quality researches on education, health, ecology and environment, technology, humanities
and social sciences that are geared towards the improvement of the quality of life and advancement of Filipinos and global
community.

Goal 7. Implement efficient and effective management and administration of organizational resources, programs, and
management system.

Goal 8. Formulate and implement viable and relevant business and other academic ventures that will generate income to
support instruction, research and extension programs.
MSTIP GRADUATE ATTRIBUTES GENERAL EDUCATION LEARNING OUTCOMES
 Knowledge for Social Computing Problems Knowledge (Intellectual Competencies)
 Problem Analysis
 Design/Development of Solutions 1. Analyze text (written. Visual, oral, etc.) critically
 Modern Tool Usage 2. Demonstrate proficiency and effective communication (Writing, Speaking, and use of new technologies)
 Individual and Team Work 3. Use basic concepts across the domain of knowledge
 Communication 4. Demonstrate critical. Analytical. and creative thinking
5. Apply different analytical models in problem solving.
 Computing Professionalism and Ethics in the Society
 Life-long Learning
Values (Personal and Civic personalities)
1. Appreciate the complexity of the human condition`
2. Interpret the human experience from various perspective
3. Examine the contemporary world from both Philippines and global perspectives
4. Takes responsibility for knowing and being Filipino
 MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING

5. Reflect critically on shared concerns

6. Generate innovative practices and solution guided by ethical standards
7. Make decision based on moral norms and imperatives
8. Appreciate various art forms
9. Contribute to aesthetics
10. Advocates respects to human rights.

Skills (Practical Skills)

1. Work effectively in the group
2. Apply computing tools to process information learning research
3. Use current technology to assist and facilitate learning and research
4. Negotiate the world of technology responsibly
5. Create solutions to problems in various fields.
6. Manage one knowledge, skills and values for responsible and productive living
7. Organize one’s self for life-long learning`

SPECIFIC COURSE INFORMATION

COURSE CODE AND PRE-REQUISITES NONE
DESCRIPTION ENTREPRENEURIAL ACCOUNTING
CREDITS AND CONTACT HOURS 3 UNITS LECTURE CO-REQUISITES NONE
CONSULTATION HOURS AREA LEADER
COURSE DESCRIPTION

This course deals mainly with consolidation and mergers, parent-subsidiary relationships and consolidated statements, including foreign subsidiaries. The other topics deal with
accounting for the effects of changes in foreign exchange rates and other similar current issues. Also discussed are debt restructuring, accounting for financially distressed corporations,
accounting for the winding up of an enterprise and accounting variations among countries.

Learning Outcomes:
1. Understood the nature of investment in Associates, Business Combination, Consolidation, Foreign Currency and Financially Distressed Corporations;
2. Learned and applied the method and accounting for investment in associates, business combination, consolidation, foreign currency and financially distressed corporations;
3. Journalize transactions in investment in associates, business combination, consolidation, foreign currency transactions and in financially distressed corporations;
4. Compute the goodwill arising from business combination and determine the investment income using equity and cost method; and
5. Prepare the different types of reports / statements
 MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING

COURSE SYLLABUS
week Learning Outcomes Topic /Content Teaching & Learning Assessment Task (ATs)
Activities (TLAs)

1  Discuss the mission, vision of the school  Orientation on school’s mission and vision  discussion
 Mind-setting of what the subject is all  Overview of the syllabus
about and its requirements
2  define and explain the terms related to ACCOUNTING FOR INVESTMENT IN ASSOCIATES Lecture Paper and pencil test
investment in associates Discussion Graded recitation
 know the reasons for investing in  definition of terms Brainstorming Board-based
associates  reasons for investing in associates Board work questionnaire
3  determine the methods to be used in METHODS OF ACCOUNTING FOR BUSINESS COMBINATIONS Lecture Paper and pencil test
accounting for business combinations  equity and cost method Discussion Graded recitation
Brainstorming Board-based
Board work questionnaire
4  explain the terms related to business ACCOUNTING FOR BUSINESS COMBINATIONS Lecture Paper and pencil test
combinations  definition of terms Discussion Graded recitation
 appreciate the purpose in combining  reasons for business combinations Brainstorming Board-based
business  stock distribution / allocation Board work questionnaire
 differentiate the stock distribution and  single and two classes of stocks
allocation on the classes of stocks
5  use the acquisition method of accounting METHODS OF ACCOUNTING FOR BUSINESS COMBINATIONS Lecture Paper and pencil test
for business combination  acquisition method Discussion Graded recitation
 prepare the financial statements after  preparation of financial statements after business Brainstorming Board-based
combination combination Board work questionnaire
6 PRELIMINARY EXAMINATION
7  define and explain the terms related to CONSOLIDATED FINANCIAL STATEMENTS – DATE OF Reporting Exercises
acquisition ACQUISITION discussion Reflection paper
 understand the basic concepts /  definition of terms
 MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING

approaches / procedures in preparing

consolidated financial statements
 consolidate the statement of financial
position at the date of acquisition
8  understand the basic concepts /  basic concepts / approaches / procedures in preparing Lecture Paper and pencil test
approaches / procedures in preparing consolidated financial statements Discussion Graded recitation
consolidated financial statements Brainstorming Board-based
 consolidate the statement of financial Board work questionnaire
position at the date of acquisition
9  prepare a consolidate statement of  consolidated statement of financial position at the date Lecture Exercises
financial position at the date of of acquisition Small group discussion recitation
acquisition
10  determine the equity in subsidiary CONSOLIDATED FINANCIAL STATEMENTS SUBSEQUENT TO Lecture Paper and pencil test
income, investment balance, minority DATE OF ACQUISTION Discussion Graded recitation
interest (non-controlling interest), NCI  Cost and equity methods: determination of equity in Brainstorming Board-based
net income and consolidated net income subsidiary income, investment balance, minority Board work questionnaire
using the cost and equity method interest, minority interest net income and consolidated
net income
11  use the elimination and consolidation CONSOLIDATED FINANCIAL STATEMENTS SUBSEQUENT TO Lecture Paper and pencil test
procedures applied on working papers DATE OF ACQUISTION Discussion Graded recitation
for consolidated statements  elimination and consolidation procedures applied on Brainstorming Board-based
 prepare a consolidated financial working papers for consolidated statements Board work questionnaire
statements form the working paper
12  determine the intercompany profits and ACCOUNTING FOR INTERCOMPANY PROFITS INVENTORY Lecture Paper and pencil test
losses of the business combination  Property, plant and equipment Discussion Graded recitation
 journalize the intercompany transaction Brainstorming Board-based
on upstream and downstream sales of Board work questionnaire
inventory and property, plant and
equipment
13 MIDTERM EXAMINATION
14  determine the intercompany profits and ACCOUNTING FOR INTERCOMPANY PROFITS INVENTORY Reporting Exercises
 MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING

losses of the business combination Group activities recitation

 journalize the intercompany transaction
on upstream and downstream sales of
inventory and property, plant and
equipment
15  define the financially distressed ACCOUNTING FOR FINANCIALLY DISTRESSED CORPORATIONS Reporting Exercises
corporations  Quasi-reorganization Group activities recitation
 apply the accounting procedures for  Troubled debt restructuring (assets swap, equity swap,
financially distressed corporation using modification of debt terms)
the quasi-reorganization, troubled debt  Liquidation
restructuring, liquidation process  Preparation of statement of affairs with deficiency
 prepare the statement of affairs and statement
deficiency statement
16  Record the trusteeship operations ACCOUNTING FOR FINANCIALLY DISTRESSED CORPORATIONS Reporting Exercises
 Prepare the statement of realization and  Trusteeship operations Group activities recitation
liquidation using the conventional and  Preparation of statements of realization and
alternative form liquidations
17-18  Define and explain the terms ACCOUNTING FOR THE EFFECTS FO CHANGES IN FOREIGN Reporting Exercises
 Know the functional currency of the EXCHANGE RATES Group activities recitation
entity  Definition of terms
 Record and prepare reports for foreign  Functional currency of the entity
currency transactions  Reporting foreign currency transactions
 Use the presentation currency  Use of presentation currency other than the functional
 Translate the financial statements of the currency
foreign operation to the presentation  Translation of financial statements of the foreign
currency operation to the presentation of currency
19 FINAL EXAMINATION  
 MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING

GRADING SYSTEM
To pass this course, one must accumulate at least 60 percent of the course requirements shown below.
Class Standing Percentage PRELIM GRADE =
(Components may be (Components may (60% Class Standing + Grade
changed accordingly) be changed 40% Major Exam) Description
Percentag Equivalen
accordingly) MIDTERM GRADE
e t
= (60% Class Standing
+ 40% Major Exam) * 97-100 1.00 Excellent
Quizzes 30 70% + MG * 30% 94-96 1.25 Superior
PRE-FINAL GRADE
Recitation 20 92-93 1.50 Very Good
= (60% Class Standing +
Project 20 40% Major Exam) * 70% 89-91 1.75 Good
+ FG * 30% Above
Assignment 10 86-88 2.00
FINAL GRADE = 75% Average
Seatwork 20 83-85 2.25 Average
Total 100 81-82 2.50 Average
78-80 2.75 Fair
75-77 3.00 Passed
Below 75 5.00 Failed
DRP Dropped
Inc Incomplete
 MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING

OTHER IMPORTANT INFORMATION

OTHER COURSE POLICIES Please refer to the College specific policies

STUDENT COURSE PORTFOLIO As evidence of obtaining the learning outcomes, students are required to do and submit the
following requirements within the term:

Develop a simple business application under the rules and guidelines of software engineering
using any programming language.
LANGUAGE OF INSTRUCTION English
ATTENDANCE Section 1551 of CHED’s Manual of Regulations for Private Educational Institution, a student
who has incurred absences more than twenty percent (20%) of the total number of school
days shall not be given credit to the course regardless of class standing. For further provisions
of the said policy, please refer to the MSTIP Student Handbook.

LEARNING REFERENCES

1 Hovie, Joe B. (2018) Fundamentals of Advanced Accounting, 7th ed. New York: McGraw-Hill Education
2 Dayag, A.J. (2014) Advanced Accounting: A Comprehensive and Procedural Approach, 2 nd ed. QC: Good Dream Pub
3 Balocating, R.D. (2015). Advanced Accounting Vol. 1: Quezon City: C & E Pub
4 Baysa, G.J. T. (2014). Advanced Accounting part 1. Mandaluyong City: Millennium Books, Baysa G. J. T. (2014). Madaluyong City: Millennium Books
5 Baysa, Gloria J. Tolentino (2016) Advanced Accounting: Mandaluyong City: Millennium Books

JOURNALS
WEBSITE
OTHER
REFERENCES
PREPARED BY: NOTED BY:

MARC LAWRENCE F. QUE, MBA HERMINIA A. DAVID, PhD

Program Head Academic Head
MAKATI SCIENCE TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES
4410 Old Sta. Mesa St., Sta. Mesa, Manila

ENTREPRENEURIAL ACCOUNTING