UNIVERSITY OF NEGROS OCCIDENTAL-RECOLETOS

College of Business and Accountancy

Outcomes-Based Education COURSE SYLLABUS in Partnership and Corporation Accounting (PARCOR260)

I. University II. College of Business and Accountancy

Philosophy: Vision:
An Augustinian Recollect Center of Learning which makes knowledge (Scientia) a structure of wisdom that The College of Business and Accountancy envisions itself to be the Cradle of Excellence for Accountancy,
leads to the exercise of love (Caritas). Business Education, and Hospitality and Tourism Management. It foresees its graduates to become
globally competent leaders, managers, businessmen and professionals who carry out the values of
Vision: Service and Community Life, Interiority, Marian Moral Integrity, Peace and Justice, Love, and the Passion
A Catholic University committed to the integral formation of the human person with passion for excellence for Excellence. It also envisions to be a provider of functional, authentic, value-oriented, and research
and service to Church and Society. based business education in the country adhering to the National Competency and Industry – based
standards.
Mission:
An Augustinian Recollect University that educates the mind and heart by providing the climate, the Mission:
structure and the means to develop the vocation, knowledge, skills, talents, and attitude of the community The College of Business and Accountancy shall produce graduates who are academically prepared,
as permeated by the Gospel values for the service of humanity, love and praise to the One God. technically equipped, and research-oriented, with Augustinian Recollect values who will become globally
competent leaders, businessmen and professionals honed to become agents of our country’s
Core Values: development.
Service and Community Life; Inferiority; Marian and Moral integrity; Peace and Justice; Love; Passion for
College Outcomes
Excellence
1. Produce technically competent and professionally skilled graduates who are intellectually and
scholarly prepared, equipped to become socially responsive leaders/managers.
Goals: The University of Negros Occidental-Recoletos translates its mission statement into the following
2. Provide professional and technical training through the academic and non-academic requirements
four domains of schooling:
with the cooperation of partner companies and other linkages.
3. Instill upon future leaders/managers the importance of Catholic religion and train them to become
1. Academic: Continuing education with religion as the core to qualified persons with preferential option
partners in evangelization and internalize UNO-Rian charism.
for the poor from elementary to the graduate levels;
4. Provide training in research relevant to business education and other fields needed in effecting
2. Non-academic: Opening of opportunities for the development of skills and talents in the areas of
positive change in the business world.
sports and cultural endeavors.
5. Undertake sports and other cultural activities to further the value of heritage and desirable traditions
3. Community Extension: Complementation of the study programs with inter-disciplinary outreach
as they interact with the academic community or with the other members of the society.
projects that will enable the academic community to be involved in the promotion of the total
6. Work with government and non-government agencies through community immersion programs that
development of man;
build marginalized sectors a self-reliant and sustainable community.
4. Research: Enrichment of existing academic programs and broadening of knowledge through
functional, ethical researches for the authentic good of individuals and the society.
III. Program / Degree: Bachelor of Science in Accountancy
Objectives: At the end of the formation, the students are expected to be:
IV. Program / Degree Outcomes: Based on CMO NO. 27, series 2017
1. Spiritually sound individuals who are CHRIST-centered and MARIAN-inspired;
1. Resolve business issues and problems, with a global and strategic perspective using knowledge and
2. Intellectually cultured individuals who are able to rationally and eloquently communicate their ideas
technical proficiency in the areas of financial accounting and reporting, cost accounting and
and appreciate the arts as reflections of the infinite beauty of God;
management, accounting and control, taxation, and accounting information systems.
3. Morally healthy individuals who can weigh values with great sense of accountability;
2. Conduct accountancy research through independent studies of relevant literature and appropriate
4. Physically healthy individuals who can give due respect to the body, keeping it fit as a temple of the
use of accounting theory and methodologies.
HOLY SPIRIT;
3. Employ technology as a business tool in capturing financial and non-financial information, generating
5. Culturally conscious individualswho value heritage earned by past generations, enriching it by
reports and making decisions.
promoting desirable traditions and rendering authentic service to the Church and the country for the
4. Apply knowledge and skills to successfully respond to various types of assessments (including
common good;
professional licensure and certifications).
6. Socially concerned individuals who are sensitive and responsive to the needs of the marginalized
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical
sector of the community and the society;
practice in performing functions as an accountant.
7. Technically proficient individuals who are superior in useful skills in the practice of profession; and
6. Describe the basic functions of management such as planning, organizing, leading and controlling.
8. Scholarly leaders of science who extend the frontiers of knowledge through experimentation and
7. Identify and describe the basic concepts that underlie each of the functional areas of business
verification bringing about a deeper evaluation of problems that will make them see the synthesis of
(marketing, finance, human resources management, production and operations management,
faith, reason culture and life.
information technology, and strategic management) and employ these concepts in various business
situations.
8. Select the proper decision making tools to critically, analytically and creatively solve problems and VII. Course Description: This course deals with transactions, financial statements, and problems
drive results; and express clearly and communicate effectively with stakeholders both in oral and peculiar to the operations of partnerships and corporations as distinguished from sole proprietorships. It
written forms. includes partnership formation and operations including accounting for the admission of partners,
9. Apply information and communication technology (ICT) skills as required by the business changes in capital, profit/loss sharing, liquidation of partnerships; the conversion of an unincorporated
environment. enterprise into a corporation; accounting for incorporated enterprises, including corporate organizations,
10. Work effectively with other stakeholders and manage conflict in the workplace. paid-in capital, accumulated earnings (loss), dividends, treasury shares, book value per share and
11. Organize and lead groups to plan and implement business related activities. earnings per share. It also covers the preparation of financial statements for partnerships and
12. Participate in continuing education activities organized associations and other entities. corporations.

Graduate Attributes: The graduates have the ability to: VIII. Course Credit / Units : Six (6)
IX. Desired Learning Outcomes (DLO):
1. Articulate and discuss the latest developments in the specific field of practice (PQF level 6 descriptor) At the end of the semester, the students must have:
2. Effectively communicate orally and in writing using both English and Filipino (PQF level 6 descriptor) 1. Define partnership and clearly enumerate the features of a partnership.
3. Work effectively and independently in multi-disciplinary and multi-cultural teams (PQF level 6 2. Cite the advantages and disadvantages of a partnership compared to a sole proprietorship and
descriptor) corporation.
4. Act in recognition of professional, social and ethical responsibilities (PQF level 6 descriptor) 3. Explain the accounting principles in partnership formation and journalize transactions related to a
5. Preserve and promote “Filipino historical and cultural heritage” (RA 7722) partnership formation.
4. Determine the net income or net loss of partnership and apply the different ways of distributing net
Program Outcomes for Business and Accountancy profit or net loss.
5. Enumerate the different causes of dissolution and revision of the partners’ equity after dissolution.
1. Describe the basic functions of management such as planning, organizing, leading and controlling. 6. Apply the accounting principles with regards to goodwill and bonus recognition.
2. Identify and describe the basic concepts that underlie each of the functional areas of business 7. Journalize the transaction related to dissolution.
(marketing, finance, human resources management, production and operations management, 8. Differentiate dissolution from liquidation and apply the legal provision for partnership liquidation;
information technology, and strategic management) and employ these concepts in various business accounting procedures for lump-sum and installment liquidation.
situations. 9. Record the transactions involved in lump-sum and installment liquidation.
3. Select the proper decision making tools to critically, analytically and creatively solve problems and 10. Define corporation and discuss the attributes of a corporation.
drive results. 11. Explain the incorporation requirements and list down the different kinds of corporation and kinds of
4. Express clearly and communicate effectively with stakeholders both in oral and written forms; capital stock.
5. Apply information and communication technology (ICT) skills as required by the business 12. Examine the different components of stockholders’ equity and journalize dividends, treasury shares
environment. and retained earnings.
6. Work effectively with other stakeholders and manage conflict in the workplace. 13. Imbibe the aptitudes/attitudes/values of a competent Christian Accountant of an enterprise.
7. Organize and lead groups to plan and implement business related activities.
8. Demonstrate corporate citizenship and social responsibility. X. Expected Outputs / Course Requirements
9. Exercise high personal moral and ethical standards.
1. The students must have at least 75% in all of his or her evaluations.
V. Course No. and Title: Partnership and Corporation Accounting (PARCOR260) 2. Must not exceed the allowable number of absences.
Prerequisite: PRIACC160
XI. Grading System
VI. Academic Year: 2019-2020
Semester: Second Class Standing (Quizzes, Attendance, Participation, Assignments, Projects, Oral Reports) : 40%
Examinations (Written/Performance) : 60%
Total : 100%

Percentage Distribution (Final Grade)

Prelim Grade : 30%

Midterm Grade : 30%
Final Grade : 40%
Total :100%
 XII. Course Design Matrix:

DESIRED COURSE CONTENT / SUBJECT OUTCOME-BASED TEACHING & LEARNING TEXTBOOKS/ REFERENCES/ INSTRUCTIONAL ASSESSMENT OF TIME FRAME
LEARNING MATTER (OBTL) MATERIALS LEARNING OUTCOMES
OUTCOMES (ALO)
(DLO)
Prelim Discussion:
DLO 1,2,3,13 Nature and Formation of a 1. Define and discuss the nature of a Gloria J. Tolentino-Baysa and Ma. Concepcion Lecture 12 hours
Partnership partnership – its characteristics, YamatLupisan. Class Discussion
advantages and disadvantages. Quizzes
2. Identify the different kinds of Accounting for Partnership and Corporation Seat works
partnerships and the classes of (2018). Assignments
partners. Millenium Books, Inc., Mandaluyong City,
3. Discuss the requirements in the Philippines
formation of a partnership.
4. Discuss the accounting for partners’
initial investments in a partnership. Roberto Z. Palma
Basic Accounting 2: Partnership and
Discussion: Corporation, First Edition, 2014
DLO 4, 13 Partnership Operations 1. Discuss the closing entries in a Lecture 12 hours
partnership and differentiate them Class Discussion
from the closing entries in a sole Solita A. Frias, Consolacion L. Fajardo Quizzes
proprietorship. Elementary Accounting: (Partnership and Seat works
2. Identify and discuss the different Corporation), Seventh Edition, Year 2018 Assignments
methods and rules of dividing
partnership profits and losses among
partners. Cecilia Hago – Macapilit
3. Discuss and understand the Partnership and Corporation Accounting and
preparation of financial statements of Their Legal Bases, 2010
a partnership.

Websites:
http://www.principlesofaccounting.com
http://www.netmba.com/accounting
https://www.accountingtools.com
 DESIRED COURSE CONTENT / SUBJECT OUTCOME-BASED TEACHING & LEARNING TEXTBOOKS/ REFERENCES/ INSTRUCTIONAL ASSESSMENT OF TIME FRAME
LEARNING MATTER (OBTL) MATERIALS LEARNING OUTCOMES
OUTCOMES (ALO)
(DLO)

Discussion:
DLO 5, 6, 7, 13 Partnership Dissolution – 1. Define partnership dissolution and Lecture 12 hours
Admission of a New Partner identify the conditions giving rise to it. Class Discussion
2. Understand the accounting Quizzes
procedures to record the admission of Seat works
a new partner by purchase. Assignments
3. Understand the accounting
procedures to record the admission of
a new partner by investment.
Midterm Discussion:
DOL 6, 7, 13 Change in Capital Structure by 1. Discuss and understand the Lecture 12 hours
Withdrawal, Retirement, Death or accounting procedures in recording Class Discussion
Incapacity of a Partner the retirement or withdrawal of a Quizzes
partner by sale of interest to a new Seat works
partner or to the continuing or Assignments
remaining partners.
2. Discuss and understand the
accounting procedures in recording
the retirement or withdrawal of a
partner by sale of interest to the
partnership.
3. Discuss and understand the
accounting procedures in recording
the dissolution of a partnership due to
death or incapacity of a partner.
Discussion:
DOL 8, 9, 13 Partnership Liquidation (Lump- 1. Define partnership liquidation and Lecture 12 hours
Sum) identify its causes. Class Discussion
2. Discuss the various problems Quizzes
encountered in partnership Seat works
liquidation. Assignments
3. Identify and differentiate the two types
of partnership liquidation.
4. Discuss and understand the
accounting procedures under lump-
sum liquidation.
 DESIRED COURSE CONTENT / SUBJECT OUTCOME-BASED TEACHING & LEARNING (OBTL) TEXTBOOKS/ REFERENCES/ INSTRUCTIONAL ASSESSMENT OF TIME FRAME
LEARNING MATTER MATERIALS LEARNING OUTCOMES
OUTCOMES (ALO)
(DLO)
Discussions:
DLO 8, 9, 13 Installment Liquidation 1. Explain the nature of installment liquidation. Lecture 12 hours
2. Discuss and understand the procedures Class Discussion
followed under installment liquidation. Quizzes
3. Prepare a Statement of Liquidation and the Seat works
Accompanying Schedule Showing How Assignments
Available Cash is to be Distributed.
4. Prepare a Cash Priority Program.
Discussion:
Final Term 1. Define a corporation and identify its Lecture 15 hours
characteristics. Class Discussion
DLO 10, 11, 13 Organization and Formation of a 2. Identify and discuss the advantages and Quizzes
Corporation disadvantages of a corporate form of Seat works
organization. Assignments
3. Identify and discuss the various classes of
corporation.
4. Identify the components of a corporation and
the steps in organizing it.
5. Identify the different types of records that are
maintained by a corporation.
6. Identify and differentiate the two classes of
share capital (capital stock) that may be issued
by a corporation.
7. Identify the measurement bases in the issuance
of share capital (capital stock) in exchange for
various considerations.
8. Record transactions relating to issuance of
share capital using the memorandum entry
method and the journal entry method.
Discussion:
DLO 12, 13 Operations, Dividends, Book Value Per 1. Explain the preparation of work sheet, adjusting Lecture 12 hours
Share, and Earnings Per Share entries and closing entries for a corporation. Class Discussion
2. Explain the components of the shareholders’ Quizzes
equity section of the statement of financial Seat works
position (balance sheet). Assignments
3. Prepare the financial statements of a
corporation, specifically the statement of
changes in shareholders’ equity.
4. Identify the different types of dividends and
compute amount of dividends to be distributed
to preference and ordinary shareholders.
 DESIRED COURSE CONTENT / SUBJECT OUTCOME-BASED TEACHING & LEARNING (OBTL) TEXTBOOKS/ REFERENCES/ INSTRUCTIONAL ASSESSMENT OF TIME FRAME
LEARNING MATTER MATERIALS LEARNING OUTCOMES
OUTCOMES (ALO)
(DLO)
5. Compute book value and earnings per share.
6. Identify and explain the different types of
retained earnings appropriations. Compute
book value and earnings per share.
Identify and explain the different types of
retained earnings appropriations.

Discussion:
DLO 12, 13 Share Capital Transactions Subsequent to 1. Identify and explain the various share capital Lecture 9 hours
Original Issuance transactions subsequent to original issuance. Class Discussion
2. Explain the methods of acquiring and Quizzes
accounting for treasury shares. Seat works
Assignments

Prepared by: Recommending Approval: Approved by:

Maria Cecilia J. Genovate, CPA Grace L. Lopena, CPA, MBA, JD, RN, CRB Grace L. Lopena, CPA, MBA, JD, RN, CRB
Instructor Department Head OIC-Dean

Christine May J. Roncales, CPA, MBA

Instructor