MEYCAUAYAN COLLEGE

DETAILED TEACHING AND LEARNING SYLLABUS

Institutional Vision and Mission

PHILOSOPHY
Meycauayan College upholds the “Mother and Child philosophy. As an institutional learning, it is committed to the formation of well-rounded individuals
in the pursuit of their ultimate goal for the betterment of the society.

VISION
Meycauayan College envisions herself as an autonomous college, producing competent graduates.

MISSION
Meycauayan College provides quality education, promotes cross-cultural understanding and produces globally competent graduates with moral and
spiritual values imbued with sense of leadership and responsibility.

THE INSTITUTIONAL GOALS

As an institution of higher learning, the Meycauayan College aims to achieve the following:
1. To provide quality education that promotes cross-cultural understanding;
2. To produce globally-competent graduates who are responsible, with moral and spiritual values and who are capable of leading;
3. To form well-rounded individuals as they pursue their ultimate goal for the betterment of society.

CORE VALUES
LOYALTY. MC is committed to nurturing an academic community that is loyal to the Institution’s Philosophy, Mission and Vision
EXCELLENCE & COMPETENCY. MC is committed to building a community of globally-competent professionals, scholars, entrepreneurs and
researchers who are continually striving for excellence, both professionally and personally.
ADAPTABILITY. MC is committed to honing professionals who could adapt to various cultures and who could respond to the challenges of ASEAN
integration and globalization.
DEDICATION & COMMITMENT. MC is committed to building a community of dedicated and committed individuals who will pursue the vision of
the Institution to become an Autonomous College.
ENVIRONMENT-FRIENDLY. MC is committed to inculcating respect and love for the environment.
RESPONSIBILITY. MC is committed to molding leaders who are responsible and who will strive to achieve a just, humane and economically-stable
society.

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SOCIAL AWARENESS & SPIRITUAL MATURITY. MC is committed to becoming a catalyst of social awareness and spiritual maturity in order to
harmonize the academe with life and faith.

Accountancy and Related Areas Vision, Mission and Objectives

VISION

Bachelor of Science in Accountancy (BSA) and Bachelor of Science in Accounting Information System (BSAIS) envision to be fully accredited by the
private education accrediting bodies and consistently producing top placers in the Certified Public Accountant board examination.

MISSION

Bachelor of Science in Accountancy (BSA) and Bachelor of Science in Accounting Information System (BSAIS) provide graduates who are at par in
terms of accounting skills and competencies needed to be globally competitive with the sense of moral and spiritual values.

Program objectives: The Bachelor of Science in Accountancy (BSA) and Bachelor of Science in Accounting Information System (BSAIS)
aims to:

1. Produce graduates who are:

 Competent and ethical professional accountants capable of making positive contribution over their
lifetimes to the profession and society in which they work;
 Manifesting and maintaining an attitude of learning to learn, to maintain their competence later as
professional accountants.
2. Provide and equip students with professional knowledge, professional skills, and professional values, ethics and
attitudes that enable them to:
 Continue to learn and adapt to change throughout their professional lives;
 Identify problems, know where to find this knowledge and know how to apply it in an ethical manner to

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achieve appropriate solutions;

 Develop the knowledge base, strong skills and ethical values.
3. Prepare students for CPA licensure examination and for employment in commerce and industry, public practice,
government and education sectors.

Program Outcomes: In line with the competencies by the Commission on Higher Education (CHED) through the paradigm shift to Outcomes-
Based Education (OBE) and in adherence with the vision and mission of the school, the graduates of BSA and BSAIS
shall be able to:
1. Articulate and discuss the latest developments in the specific field of practice.
2. Effectively communicate orally and in writing using both English and Filipino;
3. Work effectively and independently in multi-disciplinary and multi-disciplinary and multi-cultural teams;
4. Act in recognition of professional, social;, and ethical responsibility;
5. Preserve and promote “Filipino historical and cultural heritage”;
6. Demonstrate working knowledge in the areas of financial accounting and reporting, cost accounting and
management, management accounting, auditing accounting information systems and accounting research;
7. Demonstrate self-confidence in performing functions as a professional;
8. Employ technology as a business tool in capturing financial and non-financial information, preparing reports and
making decisions.
9. Apply acquired knowledge and skills to pass professional licensure/certification examinations.
10. Appraise ethical problems/ issues in practical business and accounting situations and recommend appropriate
course of action that adheres to the professional code of ethics.
Course Code AC315
Course name: Auditing and Assurance Principles, 1 (Auditing Theory)
Course description: This course is designed to expose students both to the demand for and supply of the professions flagship service-
financial statement audits and to the nature of the value-added assurance services which decision makers demand in the
information age. Topics include: nature of the accounting profession, auditing and assurance fundamentals: relationship
among assurance, attestation, and audit services; consulting vs assurance services; types of attestation services (agreed-
upon procedures engagement and review engagement); types of audits (internal, external or financial statement audits,

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government audit, and special purpose audits); relationship of accounting and auditing; other services (operational audits,
compliance audits, and non-attest services); professional standards: assurance standards and attestation and auditing
standards; public sector regulation of accounting practice and legal liability.

Course Total unit/s: 3 units

unit/s:
Pre-requisite:
Course Outline: Fundamentals of auditing and assurance services
Introduction to auditing
The professional practice of Accounting
The CPA’s professional responsibilities
SEC code of good governance
Textbook:
References: Auditing Theory Books
Equipment/ Tools/Materials: Calculator
Computation of Grades A. Requirements and their corresponding weights: D. Grading system
B. Weight distribution of periodical grades
Every periodical period (Midterm and Finals), Percent Grade
grades will be computed based on 50% of quizzes, equivalent
35% of major exam and 15% of attendance and
others. 98 - 100% 1.00
60 points out of 100 total is needed to have a 95 - 97% 1.25
passing percentage of 75% per computed written 92 - 94% 1.50
quizzes and exams. 89 - 91% 1.75
86 - 88% 2.00
C. Weight distribution for subject grades 83 - 85% 2.25
Midterm…………………...…….50% 80 - 82% 2.50

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Finals……………………………50% 77 - 79% 2.75

Overall 100% 75 - 76% 3.00
Incomplete Inc

For Prelim, Midterm, & Final Period

73 - 74% 3.50
71 - 72% 4.00
70 & below 5.00

For Final Grade

70 & below 5.00
Course At the end of the course the students shall:
Outcomes:
1) Show understanding of what auditing is and its role in the world of business;
2) Describe and relate the fundamentals of auditing and assurance services
3) Describe and relate auditing
4) Describe and relate the professional practice of Accounting
5) Describe and relate the CPA’s professional responsibilities
6) Describe and relate SEC code of good governance

Knowledge Topics Intended Teaching Learning References, Weeks/

Understanding Learning Outcomes Activities Activities Materials & Assessment Approximate
Proficiency (Faculty) (Students) Equipment time
Used
Be conscious of Orientation about: Relate with the mission, Lecture; Student Week 1
the mission, vision and philosophy of Interactive Participation; (3 hours)
vision and The mission, vision and MC; Discussion; Interactive
philosophy of philosophy of MC; Problem-based Discussion;
MC; Analyze the content of the learning;
The course coverage; course syllabus

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Have requirements;
knowledge of Expectations of both the
the content of faculty and the students;
the course Classroom policies and
syllabus grading system;
requirements;

Discuss in Fundamentals of Understand the concepts Lecture; Student Calculator Graded Week 2
details and auditing and assurance and principles Interactive Participation; Textbook recitation; (3 hours)
illustrate if services- assurance Fundamentals of auditing Discussion; Interactive Seatwork;
applicable engagements ([nature, and assurance services- Problem-based Discussion; Quiz;
Fundamentals objective, range, types assurance engagements learning;
of auditing and (audits, Reviews), ([nature, objective, range,
assurance types (audits, Reviews),
Assurance Services vis-
services- Assurance Services vis-à-
à-vis Attestation
assurance vis Attestation Services)
engagements Services)
([nature,
objective,
range, types
(audits,
Reviews),
Assurance
Services vis-à-
vis Attestation
Services)
Discuss in non-assurance Understand the concepts Lecture; Student Calculator Graded Week 3
details and engagements [Agreed- and principles non- Interactive Participation; Textbook recitation; (3 hours)
illustrate if upon Procedures, assurance engagements Discussion; Interactive Seatwork;
applicable non- Computation of [Agreed-upon Procedures, Problem-based Discussion; Quiz;

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assurance Financial or Other Computation of Financial learning;

engagements Information, Tax or Other Information, Tax
[Agreed-upon Services, Management Services, Management
Procedures, Consulting, Accounting Consulting, Accounting
Computation of and Data Processing or and Data Processing or
Financial or Information Information Technology
Other Systems Services]
Technology Systems
Information,
Services]
Tax Services,
Management
Consulting,
Accounting and
Data Processing
or Information
Technology
Systems
Services]
Discuss in elements of assurance Understand the concepts Lecture; Student Calculator Graded Week 4
details and engagements High- and principles elements of Interactive Participation; Textbook recitation; (3 hours)
illustrate if Level Assurance assurance engagements Discussion; Interactive Seatwork;
applicable Engagement High-Level Assurance Problem-based Discussion; Quiz;
elements of [Objective, Ethical Engagement [Objective, learning;
assurance Requirements, Ethical Requirements,
engagements Accepting the
Accepting the
High-Level Engagement, Agreeing the
Engagement, Agreeing
Assurance Terms of the Engagement,
Engagement the Terms of the Quality Control, Planning
[Objective, Engagement, Quality and Conducting the
Ethical Control, Planning and Engagement, Evidence,
Requirements, Conducting the Documentation,

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Accepting the Engagement, Evidence, Subsequent Event, Using

Engagement, Documentation, the Work of an Expert,
Agreeing the Subsequent Event, Reporting
Terms of the Using the Work of an
Engagement, Expert, Reporting
Quality Control,
Planning and
Conducting the
Engagement,
Evidence,
Documentation,
Subsequent
Event, Using
the Work of an
Expert,
Reporting
Discuss in Introduction to Understand the concepts Lecture; Student Calculator Graded Week 5
details and auditing-nature, and principles Introduction Interactive Participation; Textbook recitation; (3 hours)
illustrate if purpose and scope of to auditing-nature, purpose Discussion; Interactive Seatwork;
applicable an audit; The historical and scope of an audit; The Problem-based Discussion; Quiz;
Introduction to development of historical development of learning;
auditing-nature, auditing; The ethical auditing; The ethical case
purpose and of auditing (Philosophy of
case of auditing
scope of an an audit, Definition and
(Philosophy of an audit,
audit; The objective, Why
historical Definition and independent auditing is
development of objective, Why necessary); The notion of
auditing; The independent auditing is accountability,
ethical case of necessary); The notion stewardship and agency;
auditing of accountability, The social concept of an

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(Philosophy of stewardship and audit and its changing

an audit, agency; The social role; Philippine Standards
Definition and concept of an audit and on Auditing (PSAs)
objective, Why its changing role;
independent Philippine Standards on
auditing is Auditing (PSAs)
necessary); The
notion of
accountability,
stewardship and
agency; The
social concept
of an audit and
its changing
role; Philippine
Standards on
Auditing
(PSAs)
Discuss in types of audit Understand the concepts Discussion; Student Calculator Graded Week 6
details and (Financial Statements and principles types of Problem-based Participation; Textbook recitation; (3 hours)
illustrate if Audit, Operational audit (Financial learning; Interactive Seatwork;
applicable types Statements Audit, Discussion; Quiz;
Audit, Compliance
of audit Operational Audit,
(Financial Audit); Compliance Audit);
Statements
Audit,
Operational
Audit,
Compliance
Audit);

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Discuss in types of auditors Understand the concepts Lecture; Student Calculator Graded Week 7
details and and principles types of Interactive Participation; Textbook recitation; (3 hours)
illustrate if auditors Discussion; Interactive Seatwork;
applicable types Problem-based Discussion; Quiz;
of auditors learning;

Discuss in general types of audit Understand the concepts Lecture; Student Calculator Graded Week 8
details and (external independent and principles general Interactive Participation; Textbook recitation; (3 hours)
illustrate if FS audit- [Nature, types of audit (external Discussion; Interactive Seatwork;
applicable independent FS audit- Problem-based Discussion; Quiz;
Objectives, Scope,
general types of [Nature, Objectives, learning;
audit (external Advantages and Scope, Advantages and
independent FS Practical Benefits, Practical Benefits, Major
audit- [Nature, Major Steps in the Steps in the Systematic
Objectives, Systematic Process, Process, Types of Opinion
Scope, Types of Opinion and and Situations Leading to
Advantages and Situations Leading to their Expression –
Practical Unqualified, Qualified,
their Expression –
Benefits, Major Adverse, Disclaimer,
Steps in the Unqualified, Qualified, Piecemeal, Basic
Systematic Adverse, Disclaimer, Requirement for an
Process, Types Piecemeal, Basic Effective Financial
of Opinion and Requirement for an Statements Audit
Situations Effective Financial
Leading to their

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Expression – Statements Audit

Unqualified,
Qualified,
Adverse,
Disclaimer,
Piecemeal,
Basic
Requirement for
an Effective
Financial
Statements
Audit
Discuss in internal audit- [Nature, Understand the concepts Lecture; Student Calculator Graded Week 9
details and Objective and Scope, and principles internal Interactive Participation; Textbook recitation; (3 hours)
illustrate if Responsibility and audit- [Nature, Objective Discussion; Interactive Seatwork;
applicable and Scope, Responsibility Problem-based Discussion; Quiz;
Authority,
internal audit- and Authority, learning;
[Nature, Independence, Independence,
Objective and Relationship to Relationship to External
Scope, External Audit, Internal Audit, Internal Auditing
Responsibility Auditing Approach and Approach and Techniques,
and Authority, Techniques, characteristics of internal
Independence, characteristics of audit report
Relationship to
internal audit report
External Audit,
Internal
Auditing
Approach and
Techniques,
characteristics

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of internal audit
report
MIDTERM MIDTERM WEEK MIDTERM WEEK MIDTERM MIDTERM MIDTERM MIDTERM Week 10
WEEK WEEK WEEK WEEK WEEK (3 hours)

Discuss in government auditing- Understand the concepts Lecture; Student Calculator Graded Week 11
details and [Nature and Scope, and principles government Interactive Participation; Textbook recitation; (3 hours)
illustrate if Commission on Audit, auditing-[Nature and Discussion; Interactive Seatwork;
applicable Scope, Commission on Problem-based Discussion; Quiz;
Principal Duties of the
government Audit, Principal Duties of learning;
auditing- COA, Functions of the COA, Functions of
[Nature and Government Auditors Government Auditors
Scope,
Commission on
Audit, Principal
Duties of the
COA, Functions
of Government
Auditors
Discuss in special purpose audit- Understand the concepts Lecture; Student Calculator Graded Week 12
details and operational or and principles special Interactive Participation; Textbook recitation; (3 hours)
illustrate if management, purpose audit-operational Discussion; Interactive Seatwork;
applicable or management, Problem-based Discussion; Quiz;
compliance
special purpose compliance learning;
audit-

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operational or
management,
compliance
Discuss in The professional Understand the concepts Lecture; Student Calculator Graded Week 13
details and practice of accounting- and principles The Interactive Participation; Textbook recitation; (3 hours)
illustrate if nature of the professional practice of Discussion; Interactive Seatwork;
applicable The accounting- nature of the Problem-based Discussion; Quiz;
accounting profession;
professional accounting profession; learning;
practice of standard setting and standard setting and
accounting- regulation in regulation in accounting
nature of the accounting practice practice
accounting
profession;
standard setting
and regulation
in accounting
practice
Discuss in public accounting Understand the concepts Lecture; Student Calculator Graded Week 14
details and profession- [Public and principles public Interactive Participation; Textbook recitation; (3 hours)
illustrate if Accounting as a accounting profession- Discussion; Interactive Seatwork;
applicable Profession, the certified [Public Accounting as a Problem-based Discussion; Quiz;
public public Accountant, Profession, the certified learning;
accounting regulatory government public Accountant,
profession- and agencies, standard regulatory government and
[Public Setting Bodies agencies, standard Setting
Accounting as a Bodies
Profession, the
certified public
Accountant,

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regulatory
government and
agencies,
standard Setting
Bodies

Discuss in management of a public Understand the concepts Lecture; Student Calculator Graded Week 15
details and accounting practice and principles Interactive Participation; Textbook recitation; (3 hours)
illustrate if management of a public Discussion; Interactive Seatwork;
applicable accounting practice Problem-based Discussion; Quiz;
management of learning;
a public
accounting
practice
Discuss in The CPA’s professional Understand the concepts Lecture; Student Calculator Graded Week 16
details and responsibilities and principles The CPA’s Interactive Participation; Textbook recitation; (3 hours)
illustrate if professional Discussion; Interactive Seatwork;
applicable The responsibilities Problem-based Discussion; Quiz;
CPA’s learning;
professional
responsibilities
Discuss in SEC code of good Understand the concepts Lecture; Student Calculator Graded Week 17
details and governance and principles SEC code of Interactive Participation; Textbook recitation; (3 hours)
illustrate if good governance Discussion; Interactive Seatwork;
applicable SEC Problem-based Discussion; Quiz;
code of good learning;
governance
FINAL WEEK FINAL WEEK FINAL WEEK FINAL WEEK FINAL FINAL FINAL Week 18
WEEK WEEK WEEK (3 hours)

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Prepared by: Reviewed by: Approved by:

Rowena P. Tan, CPA Gerardo Orosco, CPA, MBA Atty. Aristeo R. Cruz, CPA
College Faculty Area Chairperson College Dean

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