Department of Accounting Education

ACP 311– Course Syllabus

COURSE INFORMATION
1. Course Number : ACP 311
2. Course Name: : Accounting for Special Transactions
3. Course Description : This course introduces the nature, functions, scope, and limitations of the broad field
of accountancy theory. It deals with study of the theoretical accounting framework –
objectives of financial statements, accounting conventions, and generally accepted
accounting principles (national concepts and principles as well as international
accounting standards), the conditions under which they may be appropriately applied,
their impact or effect on the financial statements; and the criticisms commonly leveled
against them. The course covers the detailed discussion, appreciation, and
application of interpretation and application of theories of accounting principles,
covering advanced accounting topics. Emphasis is given on the interpretation and
application of theories of accounting in relation to partnership, from formation,
operation, dissolution to liquidation. It will also tackle peculiarities of installment sales,
consignment sales, long term construction contracts, joint arrangements, accounting
implications of franchise and corporate liquidation, fire insurance accounting and other
topics.
4. Pre-requisite : ACC 211
5. Co-requisite : None
6. Credit : 3.0 units
7. Class Schedule : 6 hours per week

PROGRAM EDUCATIONAL OBJECTIVES (PEO) OF BSA:

Three to five years after graduation, the BSA graduates are expected to:
1. Demonstrate technical and professional competence in the practice of the profession: private,
government, academe, and public accounting.
2. Involve in continuing professional development through participation to trainings, seminars,
conferences, and further studies.
ALIGNMENT OF GRADUATE ATTRIBUTES (GAS) AND PEOS TO SOS
SO A B C D E F G H I J K L M N O P Q R S T
Galing ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Graduate Gawa ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Attributes Gawi ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Gana ✓ ✓ ✓ ✓ ✓
Program PEO1 ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Educational
PEO2 ✓ ✓ ✓
Objectives

COURSE OUTCOMES (CO) OF ACC 223 AND THEIR LINKS TO SO

SO
Upon completion of the course, the BSA students are expected to:
A B C D E F G H I J
Record transactions and prepare financial reports and schedules as
CO 1 well as solve advanced problems in partnership.
E D E E E E E E D
Apply the standards, principles and concepts in the preparation and
presentation of various topics in advance accounting such as
CO 2 franchise accounting, long- term construction contract and joint E D E E E E E E D
arrangements, consignment sales, branch and agency accounting,
fire insurance contracts and other topics.

SO
Upon completion of the course, the BSA students are expected to:
K L M N O P Q R S T
Record transactions and prepare financial reports and schedules as
CO 1 well as solve advanced problems in partnership.
E E E E E D D E E E
Apply the standards, principles and concepts in the preparation and
presentation of various topics in advance accounting such as
CO 2 franchise accounting, long- term construction contract and joint E E E E E D D E E E
arrangements, consignment sales, branch and agency accounting,
fire insurance contracts and other topics.
Legend:
I = Upon attainment of this CO, students will have been introduced to the SO.
E = Upon attainment of this CO, students will have enabled themselves to attain the SO.
D = Upon attainment of this CO, students will have demonstrated partly or fully the SO.

ACP 311– Accounting for

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Department of Accounting Education
ACP 311– Course Syllabus

University Vision, Mission, Philosophy, Graduate Attributes, Program Educational Objectives (PEO)
Values, and Competencies

Vision: The University of Mindanao envisions to be a leading 1. Demonstrate technical and professional
globally engaged university creating sustainable impact in society. competence in the practice of the
profession: private, government, academe,
Mission: The University of Mindanao seeks to provide a dynamic and public accounting.
learning environment through the highest standard of instruction,
research, extension, and production in a private non-sectarian 2. Involve in continuing professional
institution committed to democratizing access to education. development through participation to
trainings, seminars, conferences, and further
Educational Philosophy: Transformative education through
studies.
polishing diamonds in the rough.

Values: Excellence, Honesty and Integrity, Innovation, and

Teamwork.

Graduate Attributes: Galing, Gawa, Gawi, at Gana

Core Competency: Quality, affordable and open education

Student Outcomes (SO)

SOa. Articulate and discuss the latest developments in the specific field of
practice. (PQF level 6 descriptor)
SOb. Effectively communicate orally and in writing using both English and
Filipino.
SOc. Work effectively and independently in multi-disciplinary and multi-
cultural teams. (PQF level 6 descriptor) Course Outcome (CO)
SOd. Act in recognition of professional, social and ethical responsibility.
SOe. Preserve and promote Filipino historical and cultural heritage.
SOf. Describe the basic functions of management such as planning,
organizing, leading and controlling.
SOg. Identify and describe the basic concepts that underlie each of the
functional areas of business (marketing, finance, human resources 1. Record transactions and prepare financial
management, production and operations management, information
technology and strategic management) and employ these concepts in
reports and schedules as well as solve
various business situations. advanced problems in partnership.
SOh. Select the proper decision-making tools to critically, analytically and
creatively solve problems and drive results. 2. Apply the standards, principles and
SOi. Express clearly and communicate effectively with stakeholders both in concepts in the preparation and
oral and written forms.
SOj. Apply information and communication technology (ICT) skills as presentation of various topics in advance
required by the business environment. accounting such as franchise accounting,
SOk. Work effectively with other stakeholders and manage conflict in the long- term construction contract and joint
workplace. arrangements, consignment sales, branch
SOl. Organize and lead groups to plan and implement business related
and agency accounting, fire insurance
activities.
SOm. Demonstrate corporate citizenship and social responsibility; and contracts and other topics.
SOn. Exercise high personal moral and ethical standards.
SOo. Resolve business issues and problems, with a global perspective and
particular emphasis on matters confronting financial statement preparers
and users, using their knowledge and technical proficiency in the areas of
financial accounting and reporting, cost accounting and management,
management accounting, auditing, taxation and accounting information
systems.
SOp. Conduct accounting research through independent studies of relevant
literature and appropriate use of accounting theory and methodologies.
SOq. Employ technology as a business tool in capturing financial and non-
financial information, generating reports and making decisions.
SOr. Apply knowledge and skills that will enable them to successfully
respond to various types of assessments (including professional licensure
and certifications).
SOs. Maintain a professional commitment to good corporate citizenship,
social responsibility and ethical practice when performing functions as a
professional accountant.
SOt. Participate in various types of employment, development activities, and
public discourses, particularly in response to the needs of the communities.
one serves.

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Department of Accounting Education
ACP 311– Course Syllabus
CO AND ASSESSMENT TASK ALIGNMENT
Assessment Task
CO Assessment
Theory-based Practice-based Coverage
Schedule
Chapter 1 to 4
➢ Partnership Definition
1. Record transactions and prepare and Concepts
financial reports and schedules as Multiple Choice Non Multiple Choice ➢ Partnership Formation
First Exam
well as solve advanced problems in Questions Questions ➢ Partnership Operation
partnership. ➢ Partnership
Dissolution (Lump-
Sum)
Chapter 5 to 6&9
➢ Partnership
Multiple Choice Non Multiple Choice Dissolution
Second Exam
Questions Questions (Installment)
➢ Joint Arrangements
2. Apply the standards, principles Installment Sales
and concepts in the preparation and Chapter 10 & 11
presentation of various topics in ➢ Long-Term
advance accounting such as Construction Contract
Multiple Choice Non Multiple Choice
franchise accounting, long term Third Exam
Questions Questions ➢ Franchise Accounting,
construction contract and joint
arrangements, consignment sales, and Consignment
branch and agency accounting, fire Sales
insurance contracts and other topics. All Topics
➢ (including Branch and
Multiple Choice Non Multiple Choice Agency Accounting,
Final Exam
Questions Questions Accounting for Fire
Insurance and B-T-O
schemes)
*Final assessment will be a comprehensive examination (from first topic to the last) in an MCQ

ASSESSMENT TASK DETAILS (THEORY-BASED)

Assessment
Coverage Assessment Task Details
Schedule
Chapter 1 to 4 In this task, you are required to answer problem solving questions
➢ Partnership that relates to the concepts of partnership accounting for formation,
Definition and operation, dissolution and lumpsum liquidation. You are expected to
Concepts apply the standards and principle of accounting. This will test you on
how knowledgeable you are in applying the theory that is being
➢ Partnership
MCQ (80% of the manifested by the problems.
First Exam Formation exam) Integration:
➢ Partnership ▪ SDG – Decent Work and Economic Growth, Integrated
Operation Problem Solving, Systems Thinking, Critical Thinking,
➢ Partnership Strategic
Dissolution (Lump- ▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Sum) Collaboration, Productivity
The purpose of this task is to apply the knowledge you acquire about
joint arrangements, installment liquidation and installment sales.
Specifically, you are expected to compute for the investments in the
joint arrangement, calculate the realized and deferred gross profit in
Chapter 5 to 6&9 installment sales and calculate the prioritization of cash distribution to
➢ Partnership partners and the final cash settlement of the partners in installment
Second Dissolution MCQ (80% of the liquidation.
Exam (Installment) exam)
➢ Joint Arrangements Integration:
Installment Sales ▪ SDG – Decent Work and Economic Growth, Integrated
Problem Solving, Systems Thinking, Critical Thinking,
Strategic
▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Collaboration, Productivity
Through this task, you are to embody your understanding about the
Chapter 10 & 11 application of principles and concepts of long-term construction
➢ Long-Term contracts, franchise accounting and consignment sales. You are also
Construction to compute the net income of the long-term construction contract, to
MCQ (80% of the
Third Exam Contract calculate the revenue in franchise accounting and compute for a total
exam)
➢ Franchise amount of certain product which is under consignment and
Accounting, and recognizing the commission or income from consignment.
Consignment Sales
Integration:

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Department of Accounting Education
ACP 311– Course Syllabus
▪ SDG – Decent Work and Economic Growth, Integrated
Problem Solving, Systems Thinking, Critical Thinking,
Strategic
▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Collaboration, Productivity
This assessment task is designed for you to demonstrate a
comprehensive understanding of the principles, theories and key
concepts of the interpretation and application of theories of
accounting in relation to partnership formation, operation, dissolution
and liquidation, installment sales, consignment sales, long-term
construction contracts, joint arrangements, accounting implications of
All Topics MCQ (100% of the franchise and corporate liquidation, fire insurance accounting and
Final Exam
exam) other topics.
Integration:
▪ SDG – Decent Work and Economic Growth, Integrated
Problem Solving, Systems Thinking, Critical Thinking,
Strategic
▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Collaboration, Productivity

ASSESSMENT TASK DETAILS (PRACTICE/PERFORMANCE-BASED)

Assessment
Coverage Assessment Task Details
Schedule

Chapter 1 to 4 In this task, you are to demonstrate the process of partnership life
➢ Partnership Definition cycle from formation to liquidation and you are to make necessary
and Concepts entry in every process of partnership accounting by applying
concepts, standards and principles of partnership accounting.
➢ Partnership Non-Multiple-
Integration:
First Exam Formation Choice Questions
▪ SDG – Decent Work and Economic Growth, Integrated
➢ Partnership Operation (20% of the exam)
Problem Solving, Systems Thinking, Critical Thinking,
➢ Partnership Strategic
Dissolution (Lump- ▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Sum) Collaboration, Productivity

The purpose of this task is to let you demonstrate the knowledge you
earn from theory discussions on concept, principle and standards
about joint arrangements, installment liquidation and installment
Chapter 5 to 6&9 sales. Specifically, you are expected to compute and make the
➢ Partnership necessary journal entries on the process of installment liquidation,
Non-Multiple-
Second Dissolution joint arrangement and installment sales
Choice Questions
Exam (Installment) Integration:
(20% of the exam)
➢ Joint Arrangements ▪ SDG – Decent Work and Economic Growth, Integrated
Installment Sales Problem Solving, Systems Thinking, Critical Thinking,
Strategic
▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Collaboration, Productivity
Through this task, you are to exhibit your understanding about the
analysis and presentation of standards and principles of long-term
construction contracts, franchise accounting and consignment sales.
Chapter 10 & 11 You are also to compute make necessary journal entries for the
➢ Long-Term application and presentation procedures of long-term construction
Non-Multiple-
Construction Contract contract, franchise accounting and consignment sales.
Third Exam Choice Questions
➢ Franchise Accounting, Integration:
(20% of the exam)
and Consignment ▪ SDG – Decent Work and Economic Growth, Integrated
Sales Problem Solving, Systems Thinking, Critical Thinking,
Strategic
▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Collaboration, Productivity
This assessment task is designed for you to demonstrate a
comprehensive understanding of the principles, theories and key
concepts of the interpretation and application of theories of
accounting in relation to partnership formation, operation, dissolution
and liquidation, installment sales, consignment sales, long term
construction contracts, joint arrangements, accounting implications
Non-Multiple-
Fourth All Topics of franchise and corporate liquidation, fire insurance accounting and
Choice-Questions
Exam other topics.
(15Items)
Integration:
▪ SDG – Decent Work and Economic Growth, Integrated
Problem Solving, Systems Thinking, Critical Thinking,
Strategic
▪ 21st Century Skills (GA) – Critical thinking, Creativity,
Collaboration, Productivity

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Department of Accounting Education
ACP 311– Course Syllabus
COURSE OUTLINE AND TIME FRAME

TIME
TOPICS FOR FIRST EXAMINATION Teaching Learning Activities RESOURCES
FRAME
➢ Orientation on Classroom and University Synchronous:
Policies as well as Grading System ➢ Orientation
➢ Discussion of VMV, PEO, SO, and CO ➢ Lecture/Discussion
Week 1 ➢ Accounting for Partnerships ➢ Short Quizzers
to Week ➢ Review of Partnership Concepts ➢ Oral Recitations
3 ➢ Partnership Formation
➢ Partnership Operation Asynchronous:
➢ Partnership Dissolution ➢ Assignment
➢ Quipper Tools
TOPICS FOR SECOND EXAMINATION
⮚ Partnership Liquidation Synchronous:
⮚ Corporate Liquidation ➢ Lecture/Discussion
➢ Comprehensive Quizzers
Week 4
➢ Oral Recitations
to Week
5
Asynchronous:
➢ Assignment
➢ Quipper Tools
TOPICS FOR THIRD EXAMINATION
➢ Accounting for Joint Arrangements Synchronous:
➢ PFRS 15 – 5 step method ➢ Lecture/Discussion
➢ PFRS 15 – Long Term Construction Contracts ➢ Comprehensive Quizzers
Week 6
➢ Oral Recitations
to Week
7
Asynchronous:
➢ Assignment
➢ Quipper Tools
TOPICS UNTIL FINAL EXAMINATION
⮚ PFRS 15 – Franchise Accounting Synchronous:
⮚ PFRS 15 – Consignment Sales ➢ Lecture/Discussion
➢ Comprehensive Quizzers
Week 8
➢ Oral Recitations
to Week
9
Asynchronous:
➢ Assignment
➢ Quipper Tools

TEXTBOOK

1. Guerrero, P.P. & Peralta, J.F. (2023). Advanced accounting: Principles and procedural applications. (Vol. 1).
Manila: GIC Enterprises & Co., Inc.

REFERENCES

1. Christensen, et.al (2018). Advanced financial accounting. New York, NY: McGraw-Hill Education
2. Punzalan, A (2018). Advanced Financial Accounting and Reporting: CPA examination: a comprehensive and
procedural approach. Manila, Philippines: GIC Enterprises & Co., Inc Millan, Z.V. (2018). Accounting for
Special Transactions Baguio City: Bandol in Enterprise
3. Dayag, A. (2020). CPAexaminationinpracticalaccounting2.Manila: GIC Enterprises & Co. Inc.
4. Guerrero, P. P. (2022). CPA problems and procedural approaches to solutions: Practical accounting 2.
Manila: GICEnterprises&Co., Inc.

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Department of Accounting Education
ACP 311– Course Syllabus
ASSESSMENT AND FEEDBACK PLAN

Course Outcomes/Weight Feedback

Assessment Task
1 2 Method

Quiz 10% LMS

True or False ✓ ✓ LMS
Oral Recitation ✓ ✓ In-person
MCQ and/or Short Problems 30% (Exams 1-3) In-person/Rubrics
Seat work ✓ ✓ In-person/Rubrics
LMS Activity ✓ ✓ LMS
Comprehensive Exam 40% (Exam 4) In-person
Research 20% Rubrics
*Base-15 grading system

POLICIES AND GUIDELINES

1. Attendance is counted from the first regular class meeting.
2. A validated student identification card must always by worn be all students while attending classes.
3. Cheating, plagiarism, and all forms of academic dishonesty are expressly forbidden in this course, and by the
university’s Policy on Academic Integrity. Examples of such violations include but not limited to:
a. collusion, purchasing, or commissioning assessment task/research paper.
b. copying verbatim from a research article/book/journal/etc.
c. copying verbatim from generative AI, such as ChatGPT.
d. falsifying or inventing any information, data or citation; and
e. false representation.
4. Valid examination permits are necessary in taking the examinations as scheduled.
5. Base-15 grading policy should be observed. Students who obtained failing scores in major examinations are
recommended to attend tutorial classes or any intervention program; and
6. For other policies and guidelines, refer to Student Handbook.

Prepared by: Reviewed by:

JOSHUA T. ZABALA, CPA JOE MARI N. FLORES, MSA, CPA

Faculty Member BSA, Program Head

References Reviewed by: Recommending Approval:

CLARISSA R. DONAYRE, MSLS GINA FE G. ISRAEL, EdD

Chief, Learning and Information Center Dean of College

Approved by:

PEDRITO M. CASTILLO II, EdD

VP, Institute of Pedagogical Advancement and Competitiveness

ACP 311– Accounting for

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