PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

Course Description Topics References

Auditing and Assurance 1.0 Fundamentals of Auditing and Assurance Services  Auditing Standards & Practices
Principles 1.1 Introduction to assurance engagements Council. (2015) Compilations on
1.1.1 Nature, objective and elements Philippine Standards on Auditing &
Course Description: This course is Philippine Auditing Practice
designed to expose students both to the 1.1.2 Types of assurance engagements (audits, reviews, Statements.
demand for and the supply of the other assurance engagements)  Cabrera, E. B. Principles of Auditing
and Other Assurance Services. 2016
profession’s flagship service - financial 1.1.3 Assurance service vis-a-vis attestation services
Edition. Manila: GIC Enterprises.
statement audits - and to the nature of the 1.2 Introduction to auditing
 Evangelista, R. and C. Racaza.
value-added assurance services which 1.2.1 Nature, philosophy, and objectives Auditing Theory for Students and
decision-makers demand in the information 1.2.2 Types of audit Practice Guide for Auditors, Vol. 1 &
age. Topics include: nature of the 1.2.2.1 According to nature of assertion/data (financial 2, Manila: GIC Enterprises.
accounting profession, auditing and statements audit, operational audit, compliance  Frias, S. F.. Textbook in Auditing
assurance fundamentals: relationship audit) Theory. Manila: Goodwill
among assurance, attestation, and audit 1.2.2.2 According to types of auditor (external Bookstore/
services; consulting vs. assurance services; independent financial statements audit, internal  Salosagcol, J. G. and M. F., Tiu.
types of attestation services (agreed-upon audit, government audit) Auditing Theory. Manila: CRC-
procedures engagement and review 2.0 The Financial Statements Audit -Client Acceptance, Audit ACE/
engagement); types of audits (internal, Planning, Supervision and Monitoring  Handbook of International Quality
external or financial statement audits, 2.1 Overview of the audit process Control, Auditing, Review, Other
government audit, and special purpose 2.2 Pre-engagement procedures Assurance, and Related Services
Pronouncements, Vol. I, II, & III,
audits); relationship of accounting and 2.3 Scope and purposes of audit planning
2016-2017 Edition
auditing; other services (operational audits, 2.3.1 Essential planning requirements
compliance audits, and non-attest services); 2.3.1.1 Knowledge of the business
professional standards: assurance standards 2.3.1.2 Preliminary analytical procedures
and attestation and auditing standards; 2.3.1.3 Materiality
public sector regulation of accounting 2.3.1.4 Assessing and managing audit risks
practice and legal liability; the framework 2.3.1.5 Overall audit plan and audit program (experts,
of financial statements auditing: risk-based internal auditor, other independent auditors)
approach as audit methodology; audit 2.4 Direction, supervision and review
evaluation and planning, including the
concept of risk and materiality; assessing 3.0 Understanding the Entity and its Environment Including its
internal controls, and tests of controls Internal Control and Assessing the Risks of Material Misstatement
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

including internal controls in computer- 3.1 Industry, regulatory and other external factors, including the
based business systems; performance of an applicable financial reporting framework
audit: evidence collection, analysis, and 3.1.1 Nature of the entity
substantive tests; reporting: reports on 3.1.2 Objectives and strategies and related business risks
assurance services, attestation services, and 3.1.3 Measurement and review of the entity's financial
financial statement audits; and completing performance
the audit including communications with 3.2 Internal control
board of directors and management 3.2.1 Basic concepts and elements of internal control
concerning internal control weaknesses. 3.2.2 Consideration of accounting and internal control
Also discussed in detail are the basic systems
professional values and the Code of Ethics 3.2.2.1 Understanding and documentation
for Professional Accountants and SEC’s 3.2.2.2 Assessment of control risks
Code of Corporate Governance. 3.2.2.2.1 Test of controls
3.2.2.2.2 Documentation
3.3 Assessing the risks of material misstatement
3.3.1 Fraud and errors
3.3.2 Risk assessment procedures
3.3.3 Discussion among the engagement team
3.3.4 Significant risks that require special audit consideration
3.3.5 Risks for which substantive procedures alone do not
provide sufficient appropriate audit evidence
3.3.6 Revision of risk assessment
3.4 Communicating with those charged with governance and
management

4.0 Audit Objectives, Procedures, Evidences and Documentation

4.1 Nature and significance
4.2 Evidential matters
4.3 Audit procedures/techniques
4.4 Audit working papers
5.0 Completing the Audit/ Post-Audit Responsibilities
5.1 Completing the audit and audit report preparation
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

5.1.1 Analytical procedures for overall review

5.1.2 Related party transactions

5.1.3 Subsequent events review
5.1.4 Assessment of going concern assumption
5.1.5 Obtaining client's representation letter
5.1.6 Evaluating findings, formulating an opinion and
drafting the audit report
5.2 Post-audit responsibilities
5.2.1 Subsequent discovery of facts
5.2.2 Subsequent discovery of omitted procedures

6.0 Reports on Audited Financial Statements

6.1 The unqualified auditor's report
6.2 Basic elements of the unqualified auditor's report
6.3 Modified auditor's report
6.3.1 Matters that do not affect the auditor's opinion
6.3.2 Matters that do affect the auditor's opinion
6.4 Report on comparatives
8.0 Other Assurance and Non-assurance Services
8.1 Procedures and reports on special purpose audit engagements
8.1.1 General considerations
8.1.2 Audit of financial statements prepared in accordance
with a comprehensive basis of accounting other than
GAAP in the Philippines
8.1.3 Audit of a component of financial statements
8.1.4 Reports on compliance with contractual agreements
8.1.5 Reports on summarized financial statements
8.2 Nonaudit engagements: procedures and reports
8.2.1 Examination of prospective financial information
8.2.2 Engagements to review financial statements
8.3 Nonassurance engagements
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

8.3.1 Engagements to perform agreed-upon procedures

regarding financial information
8.3.2 Engagements to compile financial information

Auditing and Assurance 1. Audit of investing cycle

Principles: Concepts & App. 1 2. Audit of investing transactions
3. Audit of investment account balances
Course Description: This is a continuation 4. Audit of property, plant and equipment account balances
of Assurance Principles, Professional Ethics 5. Audit of intangible account balances
and Good Governance, focusing on 6. Audit of cash balances
financial statements audit. It covers 7. Audit of the revenue and receipt cycle
detailed approaches to problems and 8. Audit of sales and revenue transactions
situations normally encountered in the 9. Audit of receivable balances
independent examination of cash, 10. Audit of cash receipt transactions / cash balance
receivables, inventories, investments,
prepaid expenses, deferred charges,
property, plant and equipment, and
intangibles. It deals specifically with the
application of auditing standards,
techniques, and procedures; internal control
evaluation; preparation of audit working
papers; introduction of computer
application in auditing; audit adjustments;
and audit reports pertaining to a medium-
sized manufacturing or trading concern.
The determination of audit objectives and
audit programs, evaluation of internal
control, and determination of substantive
procedures as applied to various accounts
are better appreciated as the transaction
cycle approach is employed in the course.
Audit working papers and audited financial
statements are the natural outputs of this
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

course leading to the preparation of audit

reports.

Accounting for Special 1.0 Partnership Accounting  Beams, Floyd A. Advanced

Transaction 1.1 Formation Accounting, Latest Edition. New
1.2 Operations Jersey: Prentice Hall, Inc.
Course Description: This course deals with 1.3 Dissolution / changes in ownership interest  De Leon, G. and N. De Leon, Latest
specialized accounting problems likely to 1.3.1 Admission of a new partner Edition. Practical Accounting 2
be encountered by accountants. The study 1.3.1.1 By purchase of interest (Adapted from RPCPA, AICPA
of the various topics in this course is based 1.3.1.2 By investment Exams. Manila: GIC Enterprises.
upon fundamental valuation accounting and 1.3.1.3 Withdrawal, retirement or death of a  Millan, Zeus. Intermediate Advanced
accounting theory as applied to special partner Accounting Part II. (Latest
income and expense recognition methods Edition).Bandolin Enterprise.
1.3.1.4 Incorporation of a partnership
and expanded business operations. This 1.4 Liquidation
course includes specialized problems in 1.4.1 Lump – sum method
partnership accounting; accounting for joint 1.4.2 Installment method
arrangement and associated enterprises 2.0 Corporate Liquidation
(including International Accounting 2.1 Statement of Affairs
Standards Statements); accounting for 2.2 Deficiency Statement
domestic branches; accounting for 2.3 Statement of realization and Liquidation
installment sales; accounting for long-term 3.0 Joint Arrangements (PFRS 11)
construction contracts; fire insurance 3.1 Joint Operations
accounting; foreign exchange transactions 3.2 Joint Venture (Equity method)
and other special issues such as build- 3.3 Accounting for SME
operate-transfer (BOT) and similar 4.0 Revenue Recognition
schemes. 4.1 Installment Sales
4.1.1 Recognition of gross profit – regular sales versus
installment sales
4.1.2 Default and Repossession and Trade – in
merchandise:
4.1.3 IAS 18 / PFRS 15
4.1.4 Financial Statement Presentation
PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

4.2 Long – term Construction Contracts – IAS 11 / PFRS 15

4.2.1 Journal entries and determination of revenue, costs
and gross profit
4.2.1.1 Percentage of completion
4.2.1.1.1 The proportion that contract
costs incurred for work
performed to date bear to the
estimated total contract costs;
4.2.1.1.2 Surveys of work performed; or
4.2.1.1.3 Completion of a physical
proportion of the contract
work
4.2.1.2 Cost Recovery Method
4.2.2 Computation of gross amount due from / to
customers
4.2.3 Financial Statement Presentation
4.2.4 Accounting for SME
4.3 Franchise Operations – Franchisor’s point of view - IAS
18 / IFRS 15
4.3.1 Journal entries and determination or revenue, costs
and gross profit
4.3.1.1 Initial Franchise Fee (use of accrual
method, installment sales method and cost
recovery method)
4.3.1.2 Continuing Franchise Fee, Bargain
Purchase (Option), and Commingled
Revenue
4.3.1.3 Repossessed Franchise
4.3.1.4 Option to Purchase the Franchise Outlet
4.3.2 Financial Statement Presentation
4.3.3 Accounting for SME
4.4 Consignment Sales - IFRS 15
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

5.0 Foreign Currency Transactions

5.1 Without hedging activities (import, export, lending, and
borrowing transactions)
5.2 Hedging Activities: Hedging Foreign Currency Exposures
5.2.1 Foreign Currency Forward Contacts
5.2.1.1 Hedges where hedge accounting is Not
Required (Undesignated Hedges)
5.2.1.1.1 Exposed Asset (Import) or
Liability (Export) Position
5.2.1.1.2 Speculation
5.2.1.2 Hedge that requires a Hedge Accounting:
5.2.1.2.1 Fair value hedge
5.2.1.2.1.1 Hedge of a
Firm Commitment
(Purchase or Sale
Transaction)
5.2.1.2.2 Cash flow hedge
5.2.1.2.2.1 Hedge of a
Firm
Commitment
(Purchase or Sale
Transaction)
5.2.1.2.2.2 Hedge of a
Forecasted
transaction
(Purchase or Sale
Transaction)
5.2.1.2.3 Hedge of a net investment in
foreign entity
5.3 Accounting for SME
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

6.0 Translation of Foreign Currency Financial Statements (PAS

21/PAS 29)
6.1 Translation from the Functional Currency to the
presentation Currency (Closing/ Current Rate Method)
6.2 Remeasurement from a Foreign Currency to the Functional
Currency (Temporal Method)
6.3 Restatement of financial statements (Functional currency is
the currency of a hyperinflationary economy)

Accounting for Business Combinations 1.0 Accounting for Home Office, Branch and Agency Transactions  Beams, Floyd A. Advanced
1.1 Transactions on the books of the home office and the branch Accounting, Latest Edition. New
Course Description: This course deals with 1.2 Reconciliation of reciprocal accounts Jersey: Prentice Hall, Inc.
specialized accounting problems likely to 1.3 Preparation of individual and combined financial statements  De Leon, G. and N. De Leon, Latest
be encountered by accountants. The study 1.4 Special procedures in home office and branch transactions Edition. Practical Accounting 2
of the various topics in this course is based (inter – branch transfer of cash and merchandise at cost or at (Adapted from RPCPA, AICPA
upon fundamental valuation accounting and billed price) Exams. Manila: GIC Enterprises.
accounting theory as applied to business 1.5 Accounting for Agency transactions  Millan, Zeus. Intermediate Advanced
combination. This course includes Accounting Part II. (Latest
specialized problems in accounting for 2.0 Edition).Bandolin Enterprise.
Accounting for Business Combination (PFRS 3)
business combination-statutory merger, 2.1 Acquisition of assets and liabilities (acquisition method)
stock acquisition, consolidation, 2.1.1 Determination of Consideration Transferred
intercompany transactions such as upstream 2.1.2 Recognition of Acquired Assets and Liabilities
and downstream transactions, separate
financial statements and the preparation of 2.1.3 Recognition and Measurement of Goodwill and
the consolidated financial statements for Gain from a Bargain Purchase
financial reporting purposes. 2.1.4 Journal Entries
2.2 Financial Statement Presentation
2.3 Accounting for SME

3.0 Separate Financial Statement (PAS 27)

3.1 Accounting for Investment in Subsidiary
7.1.1. Cost
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

7.1.2. In accordance with PAS 39/PFRS 9 (effective

January 1, 2018)
7.1.3. Equity method

4.0 Consolidated Financial Statements (PFRS 10)

4.1 Consolidated Financial Statement in Subsidiary
4.1.1 Date of acquisition
4.1.2 Subsequent to date of acquisition (At cost, in
accordance with PAS 39, and equity method)
4.1.2.1 Net income, dividends, amortization and
impairment of goodwill
4.1.2.2 With intercompany transactions
(inventories, land and depreciable assets)
4.1.3 Determination of:
4.1.3.1 Net income
4.1.3.1.1 Attribution to Equity Holders
of Parent/ Controlling or
Parent’s Interest
4.1.3.1.2 Non-controlling Interest
4.1.3.1.3 Consolidated/ Group
4.1.3.2 Total Comprehensive Income
4.1.3.2.1 Attributable to Equity Holders
of Parent/ Controlling or
Parent’s Interest
4.1.3.2.2 Non – controlling Interest
4.1.3.2.3 Consolidated/ Group
4.1.3.3 Equity
4.1.3.3.1 Attributable to Equity Holders
of Parent/ Controlling or
Parent’s interest
4.1.3.3.2 Non – controlling Interest
4.1.3.3.3 Consolidated / Group
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

4.1.3.4 Retained Earnings/ Capital stock /

Dividends
4.1.3.4.1 Attributable to Equity Holders
of Parent /Controlling or
Parent’s Interest /
Consolidated / Group

Accounting for Gov't and Non-profit 1.0 Accounting for Not – for – profit organizations  Beams, Floyd A. Advanced
Organizations 1.1 Voluntary health and welfare organizations (VHWO) Accounting, Latest Edition. New
1.2 Hospitals and other health care organizations Jersey: Prentice Hall, Inc.
Course Description: This course deals with 1.3 Colleges and Universities  De Leon, G. and N. De Leon, Latest
specialized accounting problems likely to 1.4 Other not – for – profit organizations such as churches, Edition. Practical Accounting 2
be encountered by accountants. The study museums, fraternity association, etc. (Adapted from RPCPA, AICPA
of the various topics in this course is based 1.5 Accounting for Assets, Liabilities, Equity, Income and Exams. Manila: GIC Enterprises.
upon fundamental valuation accounting and Expenses  Millan, Zeus. Intermediate Advanced
accounting theory as applied to government Accounting Part II. (Latest
Edition).Bandolin Enterprise.
agencies and not for profit organizations. It 2.0 Government Accounting – General Fund
is designed to cover the financial accounting  Government Accounting Manual
2.1 Basic Concepts in Government Accounting
principles relative to recognition,  COA Circula
2.2 Budget Process
measurement, valuation, and financial 2.3 Journal Entries – Books of National Government Agency
statement of presentation of liabilities and 2.4 Accounting for Assets, Liabilities, Equity, Income and
shareholders’ equity, including disclosure Expenses
requirements. The related internal control,
ethical issues, and management of liabilities
and owner(s)’ equity are also covered. It
also deals with contemporary issues such as
leases, employees’ retirement benefits,
deferred taxes, and other current related
items.

Auditing and Assurance: Concepts and 1. Audit of expenditure and disbursement cycle  Auditing Standards & Practices
App. 2 2. Audit of acquisitions and purchases Council. (2015) Compilations on
Philippine Standards on Auditing &
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

Course Description: This is a continuation 3. Audit of payroll transactions Philippine Auditing Practice
of Assurance Principles, Professional Ethics 4. Audit of cash disbursement transactions / cash balance Statements.
and Good Governance, focusing on 5. Audit of inventory balances  Cabrera, E. B. Principles of Auditing
financial statements audit. It covers 6. Audit of trade payable balances and Other Assurance Services. 2016
detailed approaches to problems and 7. Audit of prepaid expenses and accrued liabilities Edition. Manila: GIC Enterprises.
situations normally encountered in the 8. Audit of production cycle  Evangelista, R. and C. Racaza.
Auditing Theory for Students and
independent examination of liabilities, 9. Audit of conversion activities
Practice Guide for Auditors, Vol. 1 &
owners’ equity, and revenue and expenses. 10. Audit of inventory balances: work-in-process and finished 2, Manila: GIC Enterprises.
It deals specifically with the application of goods  Frias, S. F.. Textbook in Auditing
auditing standards, techniques, and 11. Audit of cost of goods sold balance Theory. Manila: Goodwill
procedures; internal control evaluation; 12. Audit of the financing cycle Bookstore/
preparation of audit working papers; 13. Audit of financing cycle transactions  Salosagcol, J. G. and M. F., Tiu.
introduction of computer application in 14. Audit of non-trade liability balances Auditing Theory. Manila: CRC-
auditing; audit adjustments; and audit 15. Audit of interest expense and finance cost balances ACE/
reports pertaining to a medium-sized 16. Audit of equity accounts  Handbook of International Quality
manufacturing or trading concern. The Control, Auditing, Review, Other
determination of audit objectives and audit Assurance, and Related Services
programs, evaluation of internal control, Pronouncements, Vol. I, II, & III,
and determination of substantive 2016-2017 Edition
procedures as applied to various accounts
are better appreciated as the transaction
cycle approach is employed in the course.
Audit working papers and audited financial
statements are the natural outputs of this
course leading to the preparation of audit
reports.

Auditing and Assurance: Specialized 1. Audit of investing cycle  Auditing Standards & Practices
Industries 2. Audit of investing transactions Council. (2015) Compilations on
3. Audit of investment account balances Philippine Standards on Auditing &
Course Description: This course is 4. Audit of property, plant and equipment account balances Philippine Auditing Practice
designed to expose students both to the 5. Audit of intangible account balances Statements.
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

demand for and the supply of the 6. Audit of cash balances  Cabrera, E. B. Principles of Auditing
profession’s flagship service - financial 7. Audit of the revenue and receipt cycle and Other Assurance Services. 2016
statement audits - and to the nature of the 8. Audit of sales and revenue transactions Edition. Manila: GIC Enterprises.
value-added assurance services which 9. Audit of receivable balances  Evangelista, R. and C. Racaza.
decision-makers demand in the information 10. Audit of cash receipt transactions / cash balance Auditing Theory for Students and
age in the case of specialized industries. 11. Audit of expenditure and disbursement cycle Practice Guide for Auditors, Vol. 1 &
2, Manila: GIC Enterprises.
Topics include: nature of the accounting 12. Audit of acquisitions and purchases
 Frias, S. F.. Textbook in Auditing
profession, auditing and assurance 13. Audit of payroll transactions
Theory. Manila: Goodwill
fundamentals: relationship among 14. Audit of cash disbursement transactions / cash balance Bookstore/
assurance, attestation, and audit services; 15. Audit of inventory balances  Salosagcol, J. G. and M. F., Tiu.
consulting vs. assurance services; types of 16. Audit of trade payable balances Auditing Theory. Manila: CRC-
attestation services (agreed-upon 17. Audit of prepaid expenses and accrued liabilities ACE/
procedures engagement and review 18. Audit of production cycle  Handbook of International Quality
engagement); types of audits (internal, 19. Audit of conversion activities Control, Auditing, Review, Other
external or financial statement audits, 20. Audit of inventory balances: work-in-process and finished Assurance, and Related Services
government audit, and special purpose goods Pronouncements, Vol. I, II, & III,
audits); relationship of accounting and 21. Audit of cost of goods sold balance 2016-2017 Edition
auditing; other services (operational audits, 22. Audit of the financing cycle
compliance audits, and non-attest services); 23. Audit of financing cycle transactions
professional standards: assurance standards 24. Audit of non-trade liability balances
and attestation and auditing standards; 25. Audit of interest expense and finance cost balances
public sector regulation of accounting 26. Audit of equity accounts
practice and legal liability; the framework
of financial statements auditing: risk-based
approach as audit methodology; audit
evaluation and planning, including the
concept of risk and materiality; assessing
internal controls, and tests of controls
including internal controls in computer-
based business systems; performance of an
audit: evidence collection, analysis, and
substantive tests; reporting: reports on
assurance services, attestation services, and
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

financial statement audits; and completing

the audit including communications with
board of directors and management
concerning internal control weaknesses.
Also discussed in detail are the basic
professional values and the Code of Ethics
for Professional Accountants and SEC’s
Code of Corporate Governance.

Management Advisory Service 1.0 Management Accounting  Barfield, Raiborn, & Kinney.
1.1 Objectives, role and scope of management accounting (Latest Edition). Cost Accounting,
Course Description: This course is 1.1.1 Basic management functions and concepts 5th Ed., Mandanluyong City:
designed to acquaint students with the role 1.1.2 Distinction among management accounting, cost accounting Mutual Books, Inc.
of the accountant in the management team and financial accounting  Cabrera, E.B. Management
by providing and assisting in the analysis, 1.1.3 Role and activities of controller and treasurer Accounting: Concepts and
interpretation, and forecasting of business 1.1.4 International certifications in management accounting Applications – Volume I. Latest
organizations. It covers the discussion of Edition, Manila: GIC Enterprises.
the foundation of management accounting; 1.2 Management Accounting Concepts & Techniques for  Agamata, F. (Latest Edition).
its expanding role, organizational structure, Planning & Control Management Advisory Services.
and professional ethics for management 1.2.1 Cost terms, concepts and behavior Manila: GIC Enterprises.
accountants; design of management 1.2.1.1 Nature and classification of costs
 Garrison, Noreen, Brewer. (Latest
accounting systems (e.g., responsibility 1.2.1.2 Analysis of cost behavior (variable, fixed, semi-
Edition). Managerial Accounting..
accounting system), evaluating the impact variable/mixed, step-cost)
New York: McGraw Hill
of changes in business structure, functions, 1.2.1.3 Splitting mixed cost (high-low, scatter graph, least-
Education (Asia).
and appropriateness of management squares regressions)
accounting techniques and methods; basic  Louderback, Holmen, &
1.2.2 Cost-volume-profit (CVP) analysis
interpretation and use of financial Dominiak. (Latest Edition).
1.2.2.1 Uses, assumptions and limitations of CVP analysis
statements,; performance measurement for Managerial Accounting,
1.2.2.2 Factors affecting profit
planning and control such as: marginal, Mandaluyong City: Mutual
1.2.2.3 Breakeven point in unit sales and peso sales
absorption, and opportunity costing; cost Books, Inc.
1.2.2.4 Required selling price, unit sales and peso sales to
behavior; cost-volume-profit relationship; achieve a target profit  Weygandt, Kieso, Kimmel,
advanced analysis and appraisal of financial (Latest Edition). Managerial
and related information; business planning
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

and budgetary systems; standard costing 1.2.2.5 Sensitivity analysis (including indifference point in unit Accounting. Mandaluyong City;
and variance analysis; quantitative sales and peso sales) Millennium Books, Inc.
techniques; and methods for planning and 1.2.2.6 Use of sales mix in multi-product companies
control. This also deals with the application 1.2.2.7 Concepts of margin of safety and degree of operating
of techniques and concepts focusing on leverage
segment reporting, profitability analysis, 1.2.3 Standard costing and variance analysis
and decentralization; information for 1.2.3.1 Direct material variance (quantity, price usage, purchase
decision-making purposes (short-term and price, mix and yield)
long-term) and non-financial indicators 1.2.3.2 Direct labor variance (efficiency, rate, mix and yield)
such as productivity per employee or per 1.2.3.2 Factory overhead variance – two-way method
service unit; decision making affecting (controllable and volume); three-way method (spending, variable
short-run operations of the company; capital efficiency and volume); four-way method (variable spending,
budgeting decisions; pricing of goods and fixed spending, variable efficiency and volume)
services; and environmental cost
accounting. 1.2.4 Variable costing and absorption costing
1.2.4.1 Nature and treatment of fixed factory overhead costs
1.2.4.2 Distinction between product cost and period cost
1.2.4.3 Inventory costs between variable costing and absorption
costing
1.2.4.4 Reconciliation of operating income under variable
costing and absorption costing
1.2.5 Financial planning and budgets
1.2.5.1 Definition and coverage of the budgeting process
1.2.5.2. Master budget and its components (operating and
financial budgets)
1.2.5.3 Types of budgets (static, flexible, zero-based,
continuous)
1.2.5.4 Budget variance analysis (static and flexible)
1.2.6 Activity-based costing (ABC) and activity-based management
(ABM)
1.2.6.1 Activity levels (unit-level, batch-level, product-level
and facility-level), cost pools and activity drivers
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

1.2.6.2 Determination of cost pool rates and application of

overhead costs
1.2.6.3. Traditional costing vs. activity-based costing
1.2.6.4. Process value analysis (value-added activities and non-
value-added activities)
1.2.7 Strategic cost management
1.2.7.1 Total quality management
1.2.7.2 Just-in-time production system
1.2.7.3 Continuous improvement
1.2.7.4 Business Process Reengineering
1.2.7.5 Kaizen costing
1.2.7.6 Product life cycle costing
1.2.7.7 Target costing

1.3 Management Accounting Concepts & Techniques for

Performance Measurement
1.3.1 Responsibility accounting and transfer pricing
1.3.1.1 Type of responsibility centers (cost, revenue, profit and
investment centers)
1.3.1.2 Concepts of decentralization and segment reporting
1.3.1.3 Controllable and non-controllable costs, direct and
common costs
1..3.1.4 Performance margin (manager vs. segment
performance)
1.3.1.5 Preparation of ‘segmented’ income statement
1.3.1.6 Return on investment (RoI), residual income and
economic value added (EVA)
1.3.1.7 Rational and need for transfer price
1.3.1.8 Transfer pricing schemes (minimum transfer price,
market-based transfer price, cost-based transfer price and
negotiated price)
1.3.2 Balanced scorecard
1.3.2.1 Nature and perspectives of balanced scorecard
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

1.3.2.2 Financial and non-financial performance measures

1.4 Management Accounting Concepts & Techniques for

Decision Making
1.4.1 Quantitative techniques
1.4.1.1 Regression and correlation analysis
1.4.1.2 Gantt chart
1.4.1.3 Program evaluation review technique (PERT) – Critical
Path Method (CPM)
1.4.1.4 Probability analysis (expected value concept)
1.4.1.5 Decision tree diagram
1.4.1.6 Learning curve
1.4.1.7 Inventory models (carrying and ordering costs, EOQ
model, safety stock, reorder point)
1.4.1.8 Linear programming (graphic method; algebraic
method)

1.4.2 Relevant costing and differential analysis

1. 4.2.1 Definition and identification of relevant costs
1.4.2.2 Concept of opportunity costs
1.4.2.3 Approaches in analyzing alternatives in non-routing
decisions (total and differential)
1.4.2.4 Types of decisions (make or buy, accept or reject special
order, continue or drop/shutdown, sell or process further, best
product combination, pricing decisions)

2.1 Management Consultancy Practice by Certified Public

Accounting (CPAs)
2.1.1 Nature of management consultancy engagements
2.1.2 Professional attributes of management consultants
2.1.3 Areas, stages and management of management consultancy
engagements
 PROFESSIONAL COURSES FOR BS IN ACCOUNTANCY

3.1. Project Feasibility Studies

Auditing in a CIS Environment Auditing and Internal Control, Auditing IT Governance  Hall, James A. (2015).
Controls, Security Part I: Auditing Operating Systems and Networks, Information Technology Auditing
Course Description: This course Security Part I: Auditing Database Systems, Systems Development and and Assurance. Cengage Learning
complements the course in auditing. It Program Change Activities, Transaction Processing and Financial Asia PTE Ltd.
discusses information technology (IT) - Reporting Systems Overview, Computer-Assisted Audit Tools and
related risks, security and control Techniques, Data Structures and CAATTs for Data Extraction,
mechanisms and techniques that may be Auditing the Revenue Cycle, Auditing the Expenditure Cycle,
employed to address the risks, and the Enterprise Resource Planning System and Business Ethics, Fraud, and
impact of computer use on the audit. It also Fraud Detection.
introduces computer assisted audit
techniques and tools. In this course,
students gain an appreciation of the
particular feature and understanding of the
risks involved in auditing in a CIS
environment, the CIS controls they would
expect to find in this particular area, how
auditors use CAATS (Computer Assisted
Audit Techniques) in this area. The
students gain hands-on experience in the use
of computers in performing audits.

Prepared by:

(SGD.) MICHAEL B. BONGALONTA,CPA,CTT,MICB,MBA,DBA