DETAILED TEACHING SYLLABUS (DTS) AND INSTRUCTOR GUIDE (IG’S)

PHILOSOPHY
The PHILIPPINE COLLEGE OF SCIENCE AND TECHNOLOGY is committed to the pursuit of excellence relative to student’s professional growth and
development.

VISION
PHILIPPINE COLLEGE OF SCIENCE AND TECHNOLOGY envisions producing quality graduates fully equipped with knowledge, attitudes, values and
skills and who are globally competitive in their chosen profession ever ready to render quality services.

MISSION STATEMENT
PHILIPPINE COLLEGE OF SCIENCE AND TECHNOLOGY provides quality education to every student through a well-balanced research oriented
learning environment that develops critical and creative thinking for maximum development of individual’s talents and capabilities.

INSTITUTIONAL OBJECTIVES
In pursuit of its Vision and Mission, PHILIPPINE COLLEGE OF SCIENCE AND TECHNOLOGY will achieve the following:
1. Provide programs and activities that will enhance the development of the students physically, intellectually, culturally, emotionally,
socially, spiritually and morally.
2. Provide college education opportunities to poor but deserving students through the PHILIPPINE COLLEGE OF SCIENCE AND TECHNOLOGY
scholarship grants.
3. Train students with globally competitive technical skills that will make them competent and capable of handling challenges in life.
4. Provide manpower needs of the country with professionally qualified graduates imbued with dignity and high moral values who are
mature, self-reliant, responsible and self-discipline citizens.

SPECIAL OBJECTIVES
To provide the country with globally competit6ive and professionally licensed graduates as integral part of the total manpower needed for the
economic development in the national and international levels.
Issue Date Prepared by: Reviewed by: Recommended by: Approved by:
Revision Status
Instructor Department Head ELSE MARIE T. VILLANUEVA, CPA, MBA ENGR. RAUL GIRONELLA, Sr.
Revision Date
College Dean VP for Academic Affairs

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 COLLEGE OF ACCOUNTANCY AND BUSINESS PROGRAMS

PHILOSOPHY
The Philippine College of Science and Technology, College of Accountancy and Business Programs provides excellent trainings in business
education in a highly competitive world.

GENERAL OBJECTIVES
1. To develop, implement, evaluate and continually improve programs of business education that enhance administrative competence
and entrepreneurial abilities;
2. To develop the professional and technical proficiency of business education students so that they can become effective leaders in
their chosen careers.

SPECIFIC OBJECTIVES

The above goal will be achieved through the following specific objectives:
1. To provide students with basic concepts of economics, finance, management, marketing and business law;
2. To apply these concepts in business and related professions;
3. To inculcate social responsibilities in business;
4. To develop the entrepreneurial potential of students; and
5. To update students with emerging business trends in consonance with information age.
THREE-YEAR DIPLOMA COURSE IN ACCOUNTANCY

PROGRAM OUTCOMES

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 The Three-Year Diploma Course in Accountancy aims to provide a framework for developing the skills and knowledge needed for
employment and self-employment in the progressively dynamic business environment. The Diploma is developed specifically in recognition of
the growing importance of individuals equipped with essential skills and knowledge in accountancy context.

The objectives of the program are to prepare students to embark on a career in the accountancy field or to further continuing education at the
sub-professional level by providing them:
 Knowledge and skills of accounting, economics, management, business law, business communications, numeracy and information
technology;
 Cognitive, communication and interpersonal skills;
 Information technology skills;
 An educational experience to pursue life-long learning; and
 A strong sense of responsibility as a member of the society.

LEARNING OUTCOMES

At the end of this programme, the students should be able to:

1. Demonstrate the understanding of fundamental accounting knowledge and skills for higher level of study, employment or self-
employment.
2. Record financial transactions and prepare financial statements in compliance with acceptable accounting principles for various forms of
organisations, be it profit or not-for-profit.
3. Demonstrate good interpersonal and communication skills in order to function as a member of the society.
4. Demonstrate analytical, judgment and critical thinking skills in decision-making and problem-solving in relations with financial
information and business operations.
5. Develop values, ethics, and skills necessary to embrace a career in accountancy at sub-professional level and for lifelong learning.

COURSE TITLE AUDITING AND ASSURANCE: CONCEPTS AND COURSE CODE MPC2
APPLICATIONS 1

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CREDIT UNITS 3 COURSE PREREQUISITE/CO- CAE14
REQUISITE
COURSE DESCRIPTION
The course introduces the students to the factors affecting the behavior of individuals and groups in organization focusing on the
specific factors that tend to explain behavior of individuals, groups, and organizations. Various theories and models of organizational
behavior work group behavior, motivation in life and work, and human relations among
others are discussed and related to organizational practices and phenomena.
REFERENCE: 1. Knechel, Robert W. (2001). Auditing: Assurance & Risk
2. Cabrera, Ma. Elenita B. (2011). Applied Auditing
3. Asuncion, D, Ngina, M, Escala, R. (2016). Applied Auditing
COMPETENCE
COURSE INTENDED LEARNING OUTCOMES (CILO’S)

At the end of the course, the student shall be able to:

1. Explain the purpose, nature, scope and ethical principles and rules governing the conduct of auditing and assurance in the
Philippines including the role, duties and responsibilities of an auditor.
2. Apply audit concepts, skills, tests and techniques in obtaining audit evidence.
3. Develop an audit plan, implement audit procedures and prepare an appropriate audit report based on the audit evidence
obtained.
4. Apply auditing skills in non-assurance services and assurance on non-financial information.
5. Analyze typical and contemporary audit and assurance situations by applying conceptual framework on auditing standards,
corporate governance, professional ethics and financial reporting.
6. Work productively as part of a team and, in particular, communicate and present information effectively in written and
electronic formats in a collaborative environment.

CHECK-UP PERIOD

CONTENT/TOPIC INTENDED LEARNING OUTCOME SUGGESTED REFERENCES AND ASSESSMENT TASKS

(ILO’S) TEACHING/LEARNING EQUIPMENTS (AT’s)
ACTIVITIES (TLAs)
Chapter 1 After the chapter, the Advanced reading of 1. Knechel, Robert W. Check Up recitation 1

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An Introduction to Auditing students are expected to: the chapter is (2001). Auditing:
and Assurance 1. Explain the value of encouraged. Assurance & Risk Check up quiz 1
 The value of a timely information
information in a in a critical decision Assignments are 2. Cabrera, Ma. Elenita Graded participation
business enterprise making. given in advance. B. (2011). Applied
 Accounting, 2. Define an assurance Auditing
auditing, service. Peer discussion is
attestation and 3. Discuss the encouraged in doing 3. Asuncion, D, Ngina,
assurance importance of an assignments. M, Escala, R. (2016).
 Characteristics of assurance service in Applied Auditing
assurance and the accuracy of Lecture/discussion
attestation information.
engagements 4. Enumerate the Interactive learning
 Auditor’s decision characteristics of
process assurance and
 The profession of attestation services.
auditing and 5. Distinguish among
assurance: An auditing, attestation
Overview and assurance
services.
Chapter 2 After the chapter, the Advanced reading of 1. Knechel, Robert W. Check Up recitation 2
The Role of Auditing and students are expected to: the chapter is (2001). Auditing:
Assurance in a Market 1. State the why encouraged. Assurance & Risk Check up quiz 2
Economy financial statement
 Current trends in audit is necessary. Assignments are 2. Cabrera, Ma. Elenita Graded participation
auditing and 2. State the importance given in advance. B. (2011). Applied
assurance of assurance Auditing Check up exam
 Risk management services. Peer discussion is
in a business 3. Explain the reason encouraged in doing 3. Asuncion, D, Ngina,
enterprise for the emergence of assignments. M, Escala, R. (2016).
assurance services Applied Auditing

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  the risk besides audit. Lecture/discussion
management 4. State the nature of
process risk and discuss the Interactive learning
 the need for role of assurance
external assurance and audit services in
as component of mitigating risks.
risk management 5. Explain the how
 specific examples internal control can
of such services reduce the internal
 regulation of the risks faced by the
assurance and company.
auditing profession

PRELIMINARY PERIOD
CONTENT/TOPIC INTENDED LEARNING OUTCOME SUGGESTED REFERENCES AND ASSESSMENT TASKS
(ILO’S) TEACHING/LEARNING EQUIPMENTS (AT’s)
ACTIVITIES (TLAs)
Chapter 3 After the chapter, the Advanced reading of 1. Knechel, Robert Preliminary recitation
Transaction Cycles students are expected to: the chapter is W. (2001). Auditing: 1
 Categories of 1. Recall the encouraged. Assurance & Risk
transaction cycles transaction cycles Preliminary quiz 1
 REVENUE AND involving revenue Assignments are given 2. Cabrera, Ma.
RECEIPT CYCLE and receipt cycle. in advance. Elenita B. (2011). Graded participation
 Forms or documents 2. Describe the forms Applied Auditing
received, initiated and indicate for Peer discussion is
and processed what transaction or encouraged in doing 3. Asuncion, D,
 Summary of part of the assignments. Ngina, M, Escala, R.
functions of business process (2016). Applied
departments in they are used. Lecture/discussion Auditing
revenue cycle 3. Indicate the
 Sales department functions of every Interactive learning

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 Credit department, department
inventory control involved in the
department, transaction cycle.
shipping 4. Identify what form
department, billing is issued/prepared
department, by every
accounting department.
department
 Summary of
functions of
departments in the
receipt cycle
 Collections
 Mail room, treasury
department,
accounting
department
 Other activities
 Uncollectible
accounts
 Sales and allowances
 EXPENDITURE AND
DISBURSEMENT
CYCLE
 Forms, documents
 Summary of
functions of
departments
 User department,
purchasing

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 department,
receiving
department,
accounts payable
department,
treasury department
Chapter 4 After the chapter, the Advanced reading of 1. Knechel, Robert Preliminary recitation
Cash and Accrual Basis students are expected to: the chapter is W. (2001). Auditing: 2
 Cash basis 1. Compare cash encouraged. Assurance & Risk
accounting basis with accrual Preliminary quiz 2
 Accrual basis of basis of accounting Students answer 2. Cabrera, Ma.
accounting in terms of when questions, exercises Elenita B. (2011). Graded participation
 Comparison income is earned and problems at the Applied Auditing
between cash and and when end of the chapter. Preliminary exam
accrual basis of expenses are 3. Asuncion, D,
accounting incurred. Peer discussion is Ngina, M, Escala, R.
2. Determine the encouraged in doing (2016). Applied
difference between assignments. Auditing
accrual and cash
basis of accounting Lecture/discussion
in terms what is
recorded as Interactive learning
income earned and
expenses incurred.
3. Determine what
adjustments
should be made in
order to effect on
the financial
statements and
convert them to

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 accrual accounting
and vice versa.

MIDTERM PERIOD
CONTENT/TOPIC INTENDED LEARNING OUTCOME SUGGESTED REFERENCES AND ASSESSMENT TASKS
ILO’S) TEACHING/LEARNING EQUIPMENTS (AT’s)
ACTIVITIES (TLAs)
Chapter 5 After the chapter, the Advanced reading of 1. Knechel, Robert Midterm recitation 1
Correction of Errors students are expected to: the chapter is W. (2001). Auditing:
 Errors 1. Narrate what encouraged. Assurance & Risk Midterm quiz 1
 Prior period errors errors are and their
 Accounting effects on financial Assignments are given 2. Cabrera, Ma. Graded participation
treatment of prior statements. in advance. Elenita B. (2011).
period errors 2. Make correcting Applied Auditing
 Basic concept in the entries. Peer discussion is
correction of errors 3. Solve the problems encouraged in doing 3. Asuncion, D,
 Working capital, and exercises given assignments. Ngina, M, Escala, R.
types of errors at the end of each (2016). Applied
 Errors on financial chapter. Lecture/discussion Auditing
statement
 Counterbalancing Interactive learning
errors
 Omissions
 Other errors and
their effects
Chapter 6 After the chapter, the Advanced reading of 1. Knechel, Robert Midterm recitation 2
Substantive Test of Cash students are expected to: the chapter is W. (2001). Auditing:
 Management 1. Discuss the risk encouraged. Assurance & Risk Midterm quiz 2
assertions affecting cash

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  The different
assertions on classes
of transactions, 2.
events for the
period under audit
 Assertions about 3.
account balances at
the end of the
period 4.
 Assertions about
presentation and
disclosure 5.
 Audit objectives
 Audit procedures 6.
 Other topics on cash
audit
because of its Assignments are given 2. Cabrera, Ma. Graded participation
nature. in advance. Elenita B. (2011).
Name the different Applied Auditing Midterm exam
assertions of Peer discussion is
management. encouraged in doing 3. Asuncion, D,
Provide entries and assignments. Ngina, M, Escala, R.
adjusting entries to (2016). Applied
make corrections. Lecture/discussion Auditing
Prepare bank
reconciliation and Interactive learning
correcting entries.
Prepare a proof of
cash.
Determine the
correct amount of
cash at the end of
the period.

SEMI-FINAL PERIOD

CONTENT/TOPIC INTENDED LEARNING OUTCOME SUGGESTED REFERENCES AND ASSESSMENT TASKS

Chapter 7
Cash and Cash Equivalents
 Summary of GAAP
(ILO’S)
After the chapter, the
students are expected to:
1. Compute the
TEACHING/LEARNING EQUIPMENTS (AT’s)
ACTIVITIES (TLAs)
Advanced reading of 1. Knechel, Robert Semi-final recitation 1
the chapter is W. (2001). Auditing:
encouraged. Assurance & Risk Semi-final quiz 1

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 on cash correct amount of
 Definition of cash on cash and cash
hand and cash in equivalents at the
bank end of the period.
 Other cash items 2. Compute the
 Cash equivalents correct amount of
 Petty cash fund: deposit in transit,
imprest fund system outstanding checks
and fluctuating fund and other items
system needed to get the
 Bank reconciliation right amount of
and forms cash per books and
per bank.
Chapter 8 At the end of the chapter,
Substantive Test of the students are expected
Receivables and Sales to:
 Audit procedures for 1. Define and classify
receivables and sales receivables.
 Reconciliation of 2. Compute the
subsidiary ledger correct amount of
with general ledger receivables at the
 Confirmation of end of the period.
receivables and 3. Explain the
review of procedure in the
subsequent cash confirmation of
receipt receivables.
 Notes receivable 4. Determine the
and its related correct amount of
interest allowance for bad
 Allowance for debts.
Assignments are given 2. Cabrera, Ma. Graded participation
in advance. Elenita B. (2011).
Applied Auditing
Peer discussion is
encouraged in doing 3. Asuncion, D,
assignments. Ngina, M, Escala, R.
(2016). Applied
Lecture/discussion Auditing
Interactive learning
Advanced reading of 1. Knechel, Robert Semi-final recitation 2
the chapter is W. (2001). Auditing:
encouraged. Assurance & Risk Semi-final quiz 2
Assignments are given 2. Cabrera, Ma. Graded participation
in advance. Elenita B. (2011).
Applied Auditing Semi-final exam
Peer discussion is
encouraged in doing 3. Asuncion, D,
assignments. Ngina, M, Escala, R.
(2016). Applied
Lecture/discussion Auditing
Interactive learning
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 doubtful accounts
 Accounts receivable
and sales cutoff
 Receivables
denominated in
foreign currencies
 Analytical procedure
 Other audit
considerations

FINAL PERIOD
CONTENT/TOPIC INTENDED LEARNING SUGGESTED REFERENCES AND ASSESSMENT TASKS
OUTCOME TEACHING/LEARNING EQUIPMENTS (AT’s)
(ILO’S) ACTIVITIES (TLAs)
Chapter 9 After the chapter, the Advanced reading 1. Knechel, Robert W. Final recitation 1
Loans and Receivables students are expected to: of the chapter is (2001). Auditing:
 Receivables and 1. Determine the encouraged. Assurance & Risk Final quiz 1
their classification correct amount
 Initial recognition of receivables at Assignments are 2. Cabrera, Ma. Elenita Graded participation
of receivables the end of the given in advance. B. (2011). Applied
 Revenue period. Auditing
recognition issues 2. Properly account Peer discussion is
for sale of goods for cash and encouraged in 3. Asuncion, D, Ngina,
 Sale and receivables doing assignments. M, Escala, R. (2016).
repurchase considering the Applied Auditing
agreements freight terms. Lecture/discussion
 Sale to distributors 3. Compute
or other percentage of Interactive learning
intermediate bad debts
parties expense.
 Installment sales 4. Properly compute

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  Initial and the amount of
subsequent other related
measurement items like bad
 Other related debts, interest
topics income.
5. Compute the
amount of cash
received in the
assignment,
factoring and in
discounting of
own note.
Chapter 10 After the chapter, the Advanced reading 1. Knechel, Robert W. Final recitation 2
Inventories/Substantive students are expected to: of the chapter is (2001). Auditing:
Test of Inventories and 1. Discuss the audit encouraged. Assurance & Risk Final quiz 2
Cost of Sales objectives in
 Audit objectives relation to the Assignments are 2. Cabrera, Ma. Elenita Graded participation
 Audit procedures audit procedures given in advance. B. (2011). Applied
for inventories and undertaken in the Auditing Final Exams
cost of sales substantive test Peer discussion is
 Observation during of inventories encouraged in 3. Asuncion, D, Ngina,
inventory count and cost of sales. doing assignments. M, Escala, R. (2016).
and test counts 2. State the Applied Auditing
 Confirmation of management’s Lecture/discussion
inventories held by responsibility and
others the auditor’s in Interactive learning
 Reconciliation of the inventory
inventory count.
summary sheet 3. State the
with general ledger procedure in the
confirmation of

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  Year-end inventories held
inventory/purchas by others.
e cutoff 4. Explain the
 Valuation in importance of
accordance with inventory cut-off.
accounting policies 5. Record inventory
 Lower of cost or at lower of cost
net realizable value or net realizable
test value.
 Determine 6. Determine
whether any whether
inventories had inventories have
been pledged and been pledged.
review purchase
commitment
 Perform analytical
procedures

COURSE ASSESSMENT:
(Criteria for Grading)
Methods of Evaluation: Students will be evaluated according to the following:
05 Examinations (Check-Up Examination, Preliminary Examination, Mid-Term Examination, Semi-Final Examination and Final Examination);
14 Recitations (Preliminary Recitation, Mid-Term Recitation, Semi-Final Recitation and Final Recitation);
14 Quizzes; and
10 Assessment
The final course grade will be computed according to the following formula:
1. Eighty percent (80%) attendance or better
2. Seventy five percent (75%) general average based on the grading system as follows:
a. Prelim Grade- (5%) (Assignment) + (10%) (Recitation) + (50%) (Quizzes) + (35%)[(Checkup exam + Prelim Exam)/2]
b. Midterm Grade- [(Prelim Grade)+ (TMG)/2]; where :TMG= (5%) (Assignment) + (10%) (Recitation) + (50%) (Quizzes) + (35%) (Midterm Exam)
c. Final Grade = (Midterm Grade) + 2 (TFG)/3; where TFG = (5%) (Assignment) + (10%) (Recitation) + (50%) (Quizzes) + (35%)[(S-Final Exam + Final Exam)/2]

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COURSE POLICIES
(Requirements)
A. Attendance Procedure: Attendance will be taken at the beginning of each class. Students are expected to attend every class. Students are responsible for all
materials covered during any absence and assignments must be completed by the due date for credit. The absence of four or more lectures and/or labs will result
in a “DROPPED” grade. Missed exams will require proof of extenuating circumstances for any make-up consideration;
B. Absence due to illness: if you are sick, DO NOT ATTEND THE CLASS. Contact the instructor by email, telephone, or cellphone to discuss how will you keep up with
the coursework assignments and complete the tasks assigned.
C. Methods of Instruction: Methods will include lectures and demonstrations that discuss the terms, concepts and formulate of the assigned chapter. During the
lecture a quizzes about the basic concepts of each chapter will be given. The student is expected to read one chapter and solve the assigned problems each week.
This will require an average of five hours of study outside of the classroom each week. The previously assigned problems will be collected for grading and the
solution will be derived in class. This process is designed to help the student thoroughly understand the conce3pts and applications of the material covered.
D. Academic Honesty: All students are expected to behave with academic honest. It is not academically honest, for example, to misrepresent another person’s
worlds or ideas as one’s own, to take credit for someone else’s work or ideas; to cope and paste material from another document or from the internet, to accept
help on a test or to obtain advanced information or confidential test materials or to act in a way that might harm another students’ chance for academic success.
When the instructor believes that a student has failed to maintain academic honesty, he or she may be given an “F” grade, either for the assignment, quiz,
examination, or the course depending upon the severity of the offense.

COURSE TITLE SY/TERM OF EFFECTIVITY PREPARED BY APPROVED BY

AUDITING AND ASSURANCE: SY 2018-2019 ELSE MARIE T. VILLANUEVA, CPA, MBA ENGR. RAUL B. GIRONELLA, MBA
CONCEPTS AND APPLICATIONS 1 DEAN VICE PRESIDENT FOR ACADEMIC AFFAIRS

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