COLLEGE OF ST.

CATHERINE QUEZON CITY

COLLEGE OF BUSINESS ADMINISTRATION

MAJOR IN MARKETING MANAGEMENT
Syllabus
School Year 2017-2018, 2nd Sem.

I. Course Number : ACCTG 2

II. Course Title : Partnership and Corporation Accounting

III. Credit : 3 units

IV. Prerequisite : Acctg. 1

V. Course Description: This is a continuation of the first course in accounting. It deals with transactions, financial statements, and problems peculiar to the operations of
partnership and corporations as distinguished from sole proprietorships. Topics include: partnership formation and operations including accounting for
the admission of partners, changes in capital, and profit-and loss sharing ratios, the conversion of an unincorporated enterprise into a corporation;
accounting for incorporated enterprises, including the preparation of financial statements for internal and external purposes; and sample financial
statements of companies in the service, manufacturing and trading industries.

VI. Course Rationale: To contribute to the full appreciation of the course, a student should be exposed to the formation, operations, dissolution, and liquidation of
partnerships, basic considerations in forming a corporation and stock transactions.

VII. Course Objectives:

A. General Objective: At the end of the course the students are expected to have achieved a thorough understanding of the principles, theories, concepts, structures
and relationships of a partnership and the corporate form of business enterprise.

B. Specific Objectives:

Cognitive:
 Establish a thorough and working understanding of the overall concepts and principles of accounting as applied to the partnership and
corporate forms of business organization as well as the provision of partnership laws related to the formation, objections, dissolution and
liquidation; knowledge in the accounting of partnership transactions including conversion of sole proprietorship to partnership; provisions of
corporate law related to formation, capital structure and operations of a corporate form of organization; knowledge in the accounting of
corporate transactions, including conversion of partnership to corporation.
Affective:
 Accept the business and social responsibilities attached to both the partnership and corporate forms of business.
 Integrate the values of honesty, objectivity, mutual trust and concern.
 Value the importance of basic accounting principles leading to the construction of financial information for decision-making.

Psychomotor:
 Perform the necessary steps in the preparation of financial statements of the partnership and corporate forms of business whether
engaged in trading or manufacturing operations.
 Specific Objectives Subject Matter Values Strategies/ Instructional Evaluation Time Expected
Teaching Material Frame Output
Methodologies

Review the basic 1.Review of accounting cycle Sense of -Question and -Review Review 1st Reviewed the
principles and concepts a. Recording of business appreciation Answer Illustrative. tests, week- basic principles
learned in accounting 1. transaction in the journal. -Discussions -Demonstration Quizzes 2nd and concepts
b. Posting to the general ledger -Problem Solving problem week learned in
c. Preparation of trial balance -Book accounting 1.
d. Preparation of 10 column -Exercises
worksheet
e. Preparation of adjusting
entries
f. Preparation of financial
statements
1.Multiple step income
statement
2. Statement of changes in
owners equity.
3.Classified balance sheet
g. preparations of closing and
reversing entries.
 Specific Objectives Subject Matter Values Strategies/Teaching Instructional Evaluation Time Expected Output
Methodologies Material Frame

Define partnership clearly. 2.Partnership basic concepts & Sense of Lecture, Discussion -Illustrative/ Tests, 3rd-5th Defined partnership
Enumerate the features of formation appreciation -Question and answer Demonstration Quizzes, long week clearly.
a partnership. a. Partnership defined -Lecture- Problem examination Enumerate the
b. Features of partnership . Demonstration -Sample of features of a
Cite the advantages and c. Elements of a partnership. Objectivity and --Problem Solving articles of a co- partnership.
disadvantages of a d. Kinds of [partnership Fairness. Partnership
partnership as compared to e. Kinds of partners -Book Cited the
sole proprietorship and f. Partners role -Exercise advantages and
corporation. g. Advantages and -Case Problem disadvantages of a
disadvantages of -Practice Set partnership as
Explain the accounting partnership compared to sole
principles in partnership h. Articles of a partnership proprietorship and
formation. i. Rights of partners corporation.
j. Partners capital and
drawing accounts Explained the
k. Loan Payable and Loan accounting
Journalize transactions Receivable accounts principles in
related to partnership l. Opening the books of the partnership
formation. partnership formation.
m. Forms of investment.
Journalized
transactions related
to partnership
formation.
 Specific Objectives Subject Matter Values Integrated Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output

3. Partnership operation and 6th week

division of profit and losses
a. Income statement.
b. Closing entries

PRELIM EXAMINATION

Determine the net income or 3A. Partnership operation and Accuracy -Lecture, discussion -Illustrative/ Tests, 7th week Determined the
net loss of partnership division of profit and losses Appreciation -Question and answer Demonstration Quizzes, long net income or
business. Honesty and -Lecture-demonstration Problem examination net loss of
c. Worksheet fairness -Problem solving --Exercise partnership
Prepare income statement of d. Methods of dividing -Research -Practice Set business.
a service or merchandising profits and losses
partnership. e. Factors for an equitable Prepared
method of distribution. income
Apply the different ways of f. Statement of changes in statement of a
distributing net profit or net partner’s equity. service or
loss. merchandising
partnership.

Enumerate the different 4. Changes in partners equity Values of fairness -Lecture, discussion -Illustrative/ Tests, 8th-9th Applied the
causes of dissolution. a. Dissolution defined and integrity -Question and answer Demonstration Quizzes, long week different ways
Revise the partners equity b. Causes of dissolution -Lecture-demonstration Problem examination of distributing
after dissolution c. Accounting procedures to -Problem solving --Exercise net profit or net
Apply the accounting dissolution -Group discussion -Practice Set loss.
principles with regards to d. Admission by punches -cases
goodwill and bonus e. Admission by Investment
recognition. f. Withdrawal of a partner
Journalize the transaction g. Death of a partner
related to dissolution. h. Incorporation of a
partnership
i. Recognition of goodwill,
 bonus and asset
revaluation.

COMMUNITY SERVICE
INTEGRATION

Provide the students with the Nature, formation and Organizing skills Lecture-discussion Illustration, Quizzes 10th week Provided the
basic operational knowledge organization of partnership. Obedience and Project study in Exercises Seat works students with
of partnership accounting compliance to partnership Problem-solving the basic
that they may apply to government rules organization operational
adopted community. knowledge of
partnership
accounting that
they may apply
to adopted
community.

Differentiate dissolution 5. Partnership Liquidation Values of fairness -Lecture, discussion -Illustrative/ Tests, 11th – 12th Differentiated
from liquidation. (general Partnership) and integrity -Question and answer Demonstration Quizzes, long week dissolution
Apply the legal provisions a. Liquidation defined -Lecture-demonstration Problem examination from
for partnership liquidation; b. Distinction between -Problem solving --Exercise liquidation.
apply accounting procedures dissolution and -Practice Set Applied the
for lump-sum liquidation. liquidation -Cases legal provisions
Prepare the statement of c. Liquidation by Lump- for partnership
liquidation sum method liquidation;
Record the transactions d. Statement of partnership apply
involved in lump-sum Liquidation. accounting
liquidation. e. Entries in liquidation. procedures for
f. Cash distribution by lump-sum
lump-sum method liquidation.
1. Partners with Prepared the
loan account statement of
2. Deficient partners liquidation
in solvent Recorded the
3. Exercise of the transactions
right of offset involved in
lump-sum
MID-TERM EXAMINATION liquidation.
 Defined
Define corporation. 6.Accounting for Corporate Adherence to -Lecture, discussion -Illustrative/ Tests, 13th - 14th corporation.
Discuss the attributes of a formation and Operation. legal provisions -Question and answer Demonstration Quizzes, long week Discussed the
corporation a. Formation of corporation. -Lecture-demonstration Problem examination attributes of a
Explain the incorporation Definition Faithfulness -Problem solving --Exercise corporation
requirements. 1. Characteristics. -Practice Set Explained the
List down the different 2. Types of Values of -Cases incorporation
kinds of corporation. corporation fairness, honesty requirements.
Describe the kinds of 3. Distinction and integrity Listed down the
Capital Stock. between different kinds of
Examine the different partnership and Care and corporation.
components of corporation. Accuracy Described the
stockholders equity b. Accounting for formation kinds of Capital
Journalize capital stock and operation. Stock.
transaction.(using two 1. Recording of Examined the
methods) preferred and different
Journalize dividends, common stock (par, components of
treasures stocks & retained non-par, stated stockholders
earnings. value) transactions equity
Compute EPS and BVS. under Journalized
memorandum & capital stock
journal entry transaction.(using
methods. two methods)
2. Incorporation of Journalize
sole proprietorship dividends,
and/or partnership. treasures stocks
& retained
earnings.
Compute EPS
and BVS
Specific Objectives Subject Matter Values Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output
Discuss the nature of 7. non-cost manufacturing Values of Demonstration-Lectures, -Illustrative/ Tests, 15th-16th Discussed the
manufacturing business. system. attentiveness and question and browser Demonstration Quizzes week nature of
Differentiate manufacturing a. Introduction of the care Problem manufacturing
from merchandising business elements of --Exercise business.
manufacturing costs -Cases Differentiated
. -Direct materials manufacturing
Journalize manufacturing -Direct loan. from
transactions. -Manufacturing expenses. merchandising
Prepare statement of cost of b. Preparation of statement business
goods manufactured and of cost of goods Journalized
sold. manufactured and income manufacturing
statement. transactions.
Prepared
statement of cost
of goods
manufactured and
sold.

Define what the voucher 8. Voucher system Value of Lecture-discussion -Illustrative/ Tests, 17th week Defined what the
system is Examine critically a. Characteristics of the carefulness and Lecture demonstration Demonstration Quizzes voucher system is
the features of the system. voucher system. patience Problem-solving Problem Examined
Explain the basic concepts of b. Books of accounts used Question and answer. --Exercise critically the
the system. c. Accounting entries made. -Cases features of the
Prepare journal entries using system.
the different books of Explained the
accounts. basic concepts of
the system.
Prepared journal
entries using the
different books of
accounts
 Specific Objectives Subject Matter Values Strategies/Teaching Instructional Evaluation Time Expected
Methodologies Material Frame Output

Correlate the inter 9.Simple reconstruction of Values of Lecture-discussion Demonstration Quizzes and 18th week Correlated the
relationships of different accounts. accuracy, care Lecture demonstration problems tests inter
accounts a. Determination of net and patience Question and answer. Exercises relationships of
income or loss through different
Analyze the entries made. reconstruction of. accounts
Compute for missing items 1. Sales Analyzed the
and amounts. 2. Purchase entries made
3. Expenses Compute for
4. Other income missing items
5. Capital accounts and amounts.
b. Reconstruction of
accounts from trial
balance.

FINAL EXAMINATION
 VIII. Grading System

DESCRIPTION PERCENTAGE (%)

Class Standing 60
Recitation 10%
Output/Project 50%
Quizzes 30%
Attendance/Attitude 10%
Major Exam 40

Total 100

Final Grade:

Prelim 30%
Midterm 30%
Final Term 40%
100%

SUBMITTED BY: DR. MARIA ELENA P. VALENZUELA