CEBU ROOSEVELT MEMORIAL COLLEGES

COLLEGE OF COMMERCE

COURSE SYLLABUS

2nd SEMESTER- S.Y. 2018-2019

PARTNERSHIP AND CORPORATION ACCOUNTING

CRMC VISION

An institution that takes the lead in providing the people of Northern Cebu that produces highly competent graduates in their
fields of specialization through the accomplish of the following strategies:

 Demand-driven outcomes-based programs.

 Efficient monitoring to improve student performance.
 Adequate and well-maintained facilities.
 Establishing a realistic merit review system.
 Espousing professional upliftment.
 Implementing sustainable extension services and research programs.
 Instituting monitoring measures to maintain the competitive in our areas of influence.

CRMC MISSION
 The CEBU ROOSEVELT MEMORIAL COLLEGES dedicates it's existence to the task of developing and maintaining a distinctive brand
of education that enhances the capacity of the individuals to improve their quality of life, help enrich the well-being of their fellowmen and
contribute to the common good of the community.

VISION OF THE COLLEGE

The Department of Accountancy envisions itself as the premier academic institution in professional accounting education in
Northern Cebu that accentuates life-long learning endeavor it's faculty members to be abreast with the updates and pronouncements of the
profession, and the employability of it's graduates in the field of commerce and industry, public practice, academic and government services
through the accomplishments of the following strategies:

 Continually updating and enhancing the accounting curriculum

 Constant refining of the admission and retention policies
 Providing updated and adequate learning materials
 Maintaining direct with alumni-accountants in their areas of competency and soliciting inputs therefrom.
 Supporting the faculty's life-long learning endeavor through faculty faculty participation in seminars and workshops administered by
accredited training providers and/or post-graduation students.

MISSION OF THE COLLEGE

 Guided by the philosophy and vision, the Department of Accountancy is committed to align the accounting education with the rapidly
changing environment and demands of the Accountancy profession by employing faculty members who are abreast with the recent
developments of the practice, and spearhead researches that would be utmost of the institution and the community as a whole.

COURSE SYLLABUS

COURSE TITLE: PARTNERSHIP AND CORPORATION ACCOUNTING (PARCOR)

COURSE CODE: BC 1

CREDIT UNITS: 6 UNITS

COURSE DESCRIPTION:

This is a continuation of the first course in accounting. It deals with transactions and problems perculiar to the operations of
partnerships and corporations as distuinguished from sole proprietorships. Topics include : partnership formation including for the admission of
partners, changes in capital and profit and loss-sharing ratios; the conversion of an unincorporated enterprises into a corporation: accounting for
incorporated enterprises, including corporate organizations, paid-in capital, accumulated earnings (loss); dividends and treasury shares.

GENERAL OBJECTIVES:

At the end of the course, students are expected to have

 internalized the concepts and accounting principles involving transactions of partnerships and corporations.
 demonstrated the knowledge and understanding gained on the recording of transactions of partnerships and corporations, and be able
to prepare financial statements as well as undertake simple interpretations of these financial statements through the use of ratios.

OBJECTIVES COURSE OUTLINE ACTIVITIES/STRATEGIES

PRELIM I. NATURE OF PARTNERSHIP  Lecture
 Class discussion
 Define Partnership;  Definition of a Partnership  Board Illustrations
 Determine the characteristics of a  Elements of a Partnership  Research
partnership;  Characteristics of a Partnership  Homework
 Describe the advantages and  Advantages/Disadvantages of a Partnership  Quizes
disadvantages of a partnership;and  Kinds of Partnership  Long test
 Identify the classification of partners  Kinds of partner  Seatwork
and partnerships.  Articles of Co-ownership
 Registration requirement

 Discuss the nature of partnership ||. PARTNERSHIP FORMATION  Lecture

formation;  Accounting problems peculiar to a Partnership  Class Discussion
 Identify the valuation of the  Pro-forma statement of Partners Equity  Research
partner's investment;  Different ways of forming a Partnership  Board Illustrations
 Describe the three methods of  Computation of the Agreed Capital  Homework
forming a partnership;and  Quizzes
 Discuss the appropriate accounting  Long test
 Lecture
procedures in forming a partnership
 Class Discussion
 Quizzes
III. PARTNERSHIPS OPERATIONS
 Long Test
 Discuss the nature of partnership  Division of Profits or Losses
operations;  Rules in the division of Profit or Losses
 Describe the various pro-forma  Methods of dividing Profits and Losses
entries to record the business  Equity in partnership Assets and Share in
operations; Profits
 Identify the various methods of
dividing the profit and losses;
 Describe the proper accounting
treatment for salary and bonus
 provided to the partner's;and
 Discuss the statement of changes in
the owner's equity in partnership.

MIDTERM IV. PARTNERSHIP DISSOLUTION  Lecture

 Class Discussion
 Discuss the concept of  Nature of dissolution  Quizzes
dissolution;  Circumstances resulting in dissolution
 Identify the causes of  Dissolution by act of the partner's
dissolution;  Dissolution by Operation of Law
 Apply the appropriate  Admission by Purchase
accounting procedures for an  Admission by Investment
 Dissolution by Withdrawal or Retirement
admission by purchase;

 Discuss the concept of

admission by investment;and
 Determine the bonus and
revaluation of assets in an admission
by investment.
SEMI-FINAL V. PARTNERSHIP LIQUIDATION  Lecture
 Class Discussion
 Explain the concept of partnership  Realization Vs. Liquidation  Quizzes
liquidation;  Lump-sump Liquidation
 Discuss the accounting procedures  Installment Liquidation
applicable to partnership liquidation;  Legal provision in Liquidation
 Identify the types of partnership  Accounting procedures in Lum-Sump
liquidation; Liquidation
 Define the concept of lump-sump  Accounting procedures in Liquidation by
liquidation; Installment
 Prepare a statement of  Cash Priority Program
liquidation;and
 Make a safe payment schedule and a
cash priority program

 Discuss the nature of corporation; VI. OVERVIEW OF CORPORATION  Class Discussion

 Define the term corporation in  Lecture
accordance with the corporation  Definition of a corporation  Quizzes
code;  Characteristics of a Corporation  Long test
 Identify the characteristics of a  General requirements when forming a
corporation
corporation enumerate the powers
 Corporation Vs. Partnership
of a corporation;
 Advantages/Disadvantages of a Corporation
 Determine the advantages and
 Articles of Incorporation
disadvantages of using a corporate  Corporate By-Laws
vehicle in conducting business;  Classes of Share Capital
 Classify corporations;  Rights of a Shareholder
 Identify the components of the  Corporate Books and Records
corporation;  Trust Fund doctrine
 Explain how a corporation is formed
and organize.
FINAL VII. CORPORATION ACCOUNTING FOR SHARE CAPITAL  Lecture
 Class Discussion
 Describe the different account titles  Accounting problem Peculiar to Corporation  Quizzes
used in recording capital  Organization Expense  Oral Recitation
transactions;  Share Capital Transaction
 Discuss the concept of legal capital  Share Capital Issuance for Non-Cash
and the trust fund doctrine; Considerations.
 Differentiate the classes of shares a  Share Capital Issuance for Payment of Liability
corporation is authorized to issue;  Share Capital Issuance for Services Rendered
 Apply the appropriate accounting  Deliquent share Capital Subscription
 Share Capital from Donation
procedures for par value and no-par
value shares;
 Explain the concept of delinquent
subscription;and
 Identify the accounting principles
used in recording treasury and
capital shares.

 Explain how income and expense VIII. CORPORATION OPERATIONS AND  Lecture
summary is related to retained RETAINED EARNINGS  Class Discussion
earnings;  Definition and Nature of Treasury Shares  Quizzes
 Discuss the concept of retained  Accounting for Dividends  Oral Recitation
earnings  Accountinng for Retained Earnings
 Enumerate the types of dividends  Book Value and Earnings per Share
 Apply the procedures in accounting  Shareholders Equity
for dividends;and 
 Show the rationale behind the
concept of appropriated retained
earnings.
COURSE REQUIREMENTS

1. CLASS STANDING

I. Quizzes
II. Class Participation
III. Graded Recitation
IV. Board Work

2. ATTENDANCE

3. MAJOR EXAMS

I. Prelim
II. Midterm
III. Semi-Final
IV. Final
SUBMITTED BY: ROBERT M. BOLAMBAO

SUBMITTED TO: MR. ANTHONY BALUYOT