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Updated Accounting for Business Combination OBE Syllabus
Business Administration (BSBA)
Tarlac State University
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ISO 9001:2015 CERTIFIED CERTIFICATE NUMBER: AJ A18-
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
Department of Accountancy
COURSE TITLE : ACCOUNTING FOR BUSINESS COMBINATION COURSE CODE : ACCO 30023 CREDIT UNITS : THREE (3) COURSE PREREQUISITE : ACCO 30013 – ACCOUNTING FOR SPECIAL TRANSACTIONS COURSE DESCRIPTION : The course “Accounting for Business Combination” is a component of the CPALE Subject Advanced Financial Accounting and Reporting. The course covered the topics from the following standards: IFRS 3 – Business Combination, IFRS 10 – Consolidated Financial Statements, IAS 27 – Separate Financial Statements, IFRS for Small and Medium-Sized Entities, IFRS 11 – Joint Arrangements, and IAS 21 – Effects of Changes in Foreign Exchange Rates.
Institutional Learning Outcomes Program Outcomes Course Outcomes
- Creative and Critical Thinking Graduates use their imaginative as well as arational thinking abilities to life situations in order to push boundaries, realize possibilities, and deepen their interdisciplinary and general understanding of the world.
- Effective Communication Graduates are proficient in the four macro skills in communication (reading, writing, listening, and speaking) and are able to use these skills in solving problems. Making decisions, and articulating thoughts when engaging with people in various circumstances.
- Strong Service Orientation Graduates exemplify the potentialities of an efficient, well-rounded and responsible professional deeply committed to service excellence
- Community Engagement Graduates take an active role in the promorion and fulfillment of various advocacies (educational, social and environmental) for the advancement of community welfare.
- Adeptness in the Responsible Use of Technology Graduates demonstrate optimized use of digital learning abilities, including technical and numerical skills.
- Passion to Lifelong Learning Graduates are enabled to perform and function in the society by taking responsibility in their quest toknow more about the world through lifelong learning.
- High Level of Leadership and Organizational Skills Graduates are developed to become the best professionals in their respective disciplines by manifesting the appropriate skills and leaderships qualities.
- Sense of Personal and Professional Ethics Graduates show desirable attitudes and behavior either in their personal and professional circumstances.
9. Sense of National and Global Responsiveness
BSA and BSMA graduates must demonstrate the ability to review, interpret, evaluate financial data and systems in compliance with established policies, procedures, guidelines, agreements and/or legislation. They must be able to link data, knowledge and insight together with different sources and disciplines to make informed decisions.
BSA and BSMA graduates should possess active listening skills and the ability to communicate effectively one’s point of view, both orally and in writing, at all organizational levels; be able to explain verbally and/or writing financial, statistical, administrative matters/policies/procedures/regulatory matters/audit results at a level appropriate to the audience and must be able to negotiate effectively.
BSA and BSMA graduates should develop an ability to work in groups, possess skills to participate as member of a team or/and contribute to group effort; be able to teach others new skills; be able to work to the satisfaction of the clients; negotiate and work with diversity or work well with men and women from diverse backgrounds.
BSA and BSMA graduates must work with the highest standards of professionalism, to attain higher level of performance and generally to meet the public interest, he must conform to the ethical standards of the profession that include: Integrity, objectivity and independence, professional competence and due care, confidentiality, professional behavior and moral values.
BSA and BSMA graduates should possess general knowledge in gaining and understanding of the different cultures in the world and developing an international objective thus, he must possess competency in English language, adaptability to foreign business practices, level of trainability and good capabilities in dealing with foreign partners.
Upon completion of the course, the students will be able to: a. Have sound knowledge of the accounting standards applicable to business combination, consolidated financial statements, separate financial statements, joint arrangements, and the effects of changes in foreign exchange rates. b. Have sound knowledge of the accounting for small and medium-sized entities standards applicable to business combination, and joint arrangemnts. c. Apply the accounting standards in the presentation and preparation of financial statements, including the required disclosures. d. Apply the skills in systematic problem solving. e. Present computations and financial statements in good form. f. Appreciate the importance of appropriate accounting and reporting for various users of accounting information. g. Realize the contributions of accounting standards to the development of a more socially responsible and morally upright professional accountant.
5 th Floor, Dome, PUP A. Mabini Campus, Anonas Street, Sta. Mesa, Manila 1016
Direct Line: 335-1752 | Trunk Line: 335-1787 or 335-1777 local 364, 365 and 263
Website: pup.edu | lmlcafpup@gmail
THE COUNTRY’S 1
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POLYTECHNICU
Graduates’ deep sense of national compliments the need to live in a global village where one’s culture and other people culture are respected.
BSA and BSMA graduates should not only be conversant with IT concepts for business systems but sound knowledge on internal control in computer-based systems, development standards and practices for business systems, management of the adoption, implementation and use of IT, evaluation of computer business systems, and managing the security information.
BSA and BSMA graduates should possess broad base of knowledge concerning macro-environmental, economic and industry issues, business process structures, functions and practices. It includes knowledge in areas such as economics, quantitative models and busines statistics, organizational behavior, internation business, ethics and corporate governance. Course Plan
Week Topic Learning Outcomes Methodology Resources Assessment 1 Orientation on course syllabus; grading system; class management policies; required text book and other instructional materials, and references.
Make the students at ease and eager to learn. Relate ACCO 30013 to ACCO 30023; relate of ACCO 30023 to higher level accounting subjects
Presentation of the grading system; class management policies and the rest of the syllabus. Clarification of expectations
Approved course syllabus to be distributed to the students
1-3 Business Combination Define and describe business combination; Understand the IFRS 3 (Revised) – Business Combination; Know the application and scope of IFRS 3; Identify the methods of accounting for business combination; Understand the application of acquisition method; Know and apply the principles of business combination achieved in stages; Identify the different measurement and recognition criteria subsequent to initial recognition; Prepare the statement of financial position immediately after the combination; and Journalized the required entries in the books of the companies.
Lecture and discussion
Illustration/Diagram (different forms of business combination)
Financial Statements presentation
Case Analysis
Problem solving
Answer and analyze the theoretical questions
Students to read the financial statement disclosure regarding business combination of a PSE listed company.
Accounting for Business Combination by Jonald P. Binaluyo
International Accounting Standards Board IFRS 3: Business Combination (Revised) effective July 1, 2009.
Oral Recitation
Board presentation by students of their answers to assigned exercises and problems
Quiz regarding the topic
Compute the non-controlling interest in the net assets of subsidiary; and Prepare the consolidated financial statements subsequent to the date of acquisition; MIDTERM DEPARTMENTAL EXAMINATION
10-11 Consolidation: Intercompany Profit Understand the nature of intercompany sales between parent and subsidiary; Differentiate downstream sale and upstream sale; Compute the unrealized profit in ending inventory; Compute the realized profit in beginning inventory; Compute unrealized gain or loss on the sale of fixed between parent and subsidiary; Compute the consolidated net income; Compute the consolidated net income attributable to controlling and non-controlling interest; Compute the non-controlling interest in the net assets of subsidiary; and Prepare the consolidated financial statements subsequent to the date of acquisition.
Lecture and discussion
Illustration/Diagram (Intercompany transactions)
Financial Statements presentation
Case Analysis
Problem solving
Answer and analyze the theoretical questions
Students to present the sample financial statement of a parent and its subsidiary (a PSE listed company).
Accounting for Business Combination by Jonald P. Binaluyo
International Accounting Standards Board IFRS 10: Consolidated Financial Statements effective January 1, 2013.
Oral Recitation
Board presentation by students of their answers to assigned exercises and problems
Case Presentation
Quiz regarding the topic
12-13 Special Topics in Business Combination and Consolidation Understand the concept and scope IFRS for SMEs; Understand and Apply the provision of Section 19 of IFRS for SMEs; Identify the difference of accounting for business combination under IFRS for SMEs and IFRS 3; Understand the concept of reverse acquisition; Apply the accounting treatment of reverse acquisition;
Lecture and discussion
Illustration/Diagram (Reverse Acquisition)
Financial Statements presentation
Case Analysis
Problem solving
Answer and analyze the theoretical questions
Accounting for Business Combination by Jonald P. Binaluyo
International Accounting Standards Board IFRS 3: Business Combination (Revised) effective July 1, 2009.
International Accounting Standards Board IFRS for Small and Medium-Sized
Oral Recitation
Board presentation by students of their answers to assigned exercises and problems
Case Presentation
Quiz regarding the topic
Differentiate the equity method and cost method of accounting for investment in subsidiary; Journalized the elimination entries under the equity method of accounting; Compute the consolidated balances under the equity method; and Prepare the consolidated financial statements subsequent to the date of acquisition under the equity method.
Students to present the sample financial statement prepared using the IFRS for SME of a parent and its subsidiary (a PSE listed company).
Entities (SMEs)
Section 19 of IFRS for SMEs
14-15 Joint Arrangements Define and describe Joint Arrangements Identify the types of Joint Arrangements Differentiate Joint Operation from Joint Venture; Identify and Apply the accounting for Joint Arrangements; Journalized the transactions in the books of parties to Joint Arrangements; Apply the IFRS for SMEs for Joint Arrangements; Prepare the financial statements; and Identify and incorporate the required disclosures
Lecture and discussion
Illustration/Diagram (Joint Control)
Financial Statements presentation
Case Analysis
Problem solving
Answer and analyze the theoretical questions
Students to present the sample financial statement of a PSE listed company.
Accounting for Business Combination by Jonald P. Binaluyo
International Accounting Standards Board IFRS 11: Joint Arrangements effective January 1, 2013.
International Accounting Standards Board IFRS for Small and Medium-Sized Entities (SMEs)
Section 15 of IFRS for SMEs
Oral Recitation
Board presentation by students of their answers to assigned exercises and problems
Case Presentation
Quiz regarding the topic
16-17 Effects of Changes in Foreign Exchange Rates Understand the provisions of IAS 21; Apply the accounting for the effects of changes in foreign exchange rates; Understand the nature of foreign currency transactions; Understand the nature of foreign operations; Identify and apply the basic steps in translating foreign currency amounts into functional currency;
Lecture and discussion
Financial Statements presentation
Case Analysis
Problem solving
Answer and analyze the theoretical questions
Students to present the sample financial statement of a PSE
Accounting for Business Combination by Jonald P. Binaluyo
International Accounting Standards Board IAS 21: Effects of Changes in Foreign Exchnage Rates effective January 1, 2005.
Oral Recitation
Board presentation by students of their answers to assigned exercises and problems
Case Presentation
Quiz regarding the topic
JONALD P. BINALUYO, CPA, MBA
AFAR Committee Member
MA. DELIA M. LIZ, CPA, MBA
AFAR Committee Chair
DR. GLORIA A. RANTE, CPA
Chair – Department of Higher Accounting
Recommending Approval:
LILIAN M. LITONJUA, CPA, MBA
Dean
Approved By:
EMANUEL C. DE GUZMAN, Ph. D. Vice President for Academic Affairs
Updated Accounting for Business Combination OBE Syllabus
Course: Business Administration (BSBA)
University: Tarlac State University
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