Academic Year : 2023 – 2024 / Semester : 1st
Subject Code : Acctg. 1
Descriptive Title : BASIC ACCOUNTING
I. COURSE DESCRITION : This course will cover introduction to
financial accounting within the context of business and business
decisions. It will explore the use of various types of accounting
information found in financial statements. It will emphasize what
accounting information is, why it is important and how it is used by
economic decision makers. Specifically, it will cover understanding the
basic financial statements (balance sheet, income statement,
statement of changes in owner's equity, and cash flow statements)
and analysis of accounting information.
II. COURSE CREDIT : 3 units
III. COURSE OUTCOMES : After the completion of this course, the
students will be able to:
CO1: Recall concepts and principles of accounting as applied to
the construction of financial information for decision-making;
CO2: Demonstrate skills in recording, classifying and summarizing
accounting data for the purpose of financial statement preparation;
CO3: Describe the importance of basic accounting principles and
procedures leading to the construction of financial information for
decision-making;
CO4: Uphold the values of honesty and objectivity in the
preparation of financial information;
CO5: Perform the recording, classifying and summarizing of
accounting data; and
CO6: Apply the skills in systematic problem solving.
COURSE OUTLINE (Scope and Sequence):
Duration Topic / Content
2 Sat Basic Feature of Accounting
2 The Balance Sheet
2 The Income Statetement
2 The Statement of Changes in owner’s equity
Business Transaction and Events for a service
2
concern
General Journal, General Ledger and Trial
2
Balance (of a service business)
2 Booking Illustration for a service concern
Business Transactions/events for a
2
merchandising concern
2 Completion of accounting cycle
IV. COURSE MATERIALS :
1. Instructional Materials
2. Study References
V. STUDY SCHEDULE :
Activities /
Week Topic / Content Expected Due Date
Outputs
Basic Feature of Accounting
a) Definition nature and scope of
accounting
b) Relationships of accounting to
other fields of discipline 1st
c) Forms of business organizations Written Test Saturday of
and their activities September
d) Opportunities in accounting
profession
e) Basic Accounting concepts
The Balance Sheet
a) Forms and contents of balance
sheet Written Test 3rd
b) The accounting equation
The Income Statetement
a) Forms and content of Income Written Test 5th
Statements
The Statement of Changes in owner’s 2nd
equity Written Test Saturday of
a) Forms and content of owner’s equity October
Business Transaction and Events for a
service concern Written Test 4th
a) Nature of business transactions
and events
b) Business forms and documents
c) The Account
d) Analyzes the transactions and
effects on the accounting
equation (elements)
e) Rules of debit and credit
1st
Midterm Saturday of
November
General Journal, General Ledger and Trial
Balance (of a service business)
a) Journalizing
b) Posting to the ledger
c) Preparation of trial balance
d) Introduction to adjusting entries
supplies, depreciation and doubtful Written Test 3rd
accounts
e) Preparation of fin. statements
from adjusted trial balance
f) Introduction to worksheet
preparation-its importance and
mechanics
Booking Illustration for a service concern
Business Transactions/events for a
merchandising concern
a) Business forms and documents
b) Recording of merchandising
business transactions in the general
journal, posting to the ledger and
preparation of trial balance
c) Initial investment, additional
investment, withdrawal (cash, non 1st
cash) Written Test Saturday of
d) Assets and merchandise December
acquisitions with trade discounts,
returns and allowances and cash
discounts
e) Sale of merchandise with the trade
discounts, returns and allowances
and cash discounts
f) Sale of other assets with gain or
(loss)
Completion of accounting cycle
a) Year-end adjustment (accrual basis)
b) Worksheet preparation
c) Financial statements presentation
d) Journalizing of adjusting entries Written Test 2nd
e) Journalizing of closing entries
f) Post-Closing Trial Balance
g) Reversing Entries
Final Exam 3rd
Submission of the Course requirement: Working Paper
VI. COURSE REQUIREMENTS :
1. Working Paper: Book of Accounts, Worksheet, and Financial
Statements
VII. GRADING SYSTEM :
1. Quizzes 40%
2. Term Exam 40%
3. Classroom Participation 10%
4. Term Paper (Working Paper) 10%
Total: 100%
VIII. IMPORTANT REMINDERS :
Classroom Guidelines
Choose a quiet space, free from distractions, to set yourself up for
class
Come to class early
Dress appropriately (old students can wear school uniform) – no
wearing of sando
When someone else is talking, listen
Raise your hands to talk
Use the English language as a medium of instruction
This outline serves only as a general guide to the progression of the
course. This, however, is subject to anticipated changes along the
way.
IX. INSTRUCTOR’S CONTACT DETAILS :
Email Address:
QUILIN VEEN L. BABAYLAN, quilinbabaylan@[Link]
DPA, CESE, CFMP, MBA,
CPA FB: Quilin Veen Babaylan
Instagram: quilinquin
