Description
Through this certificate course, the users will be able to use accounting information in their decision-making processes.
The program aims to make the participants understand and appreciate the language of business which is accounting. The course will introduce participants to various concepts and principles that define acceptable accounting practice.
The articulation of various processes in the accounting cycle for both service and merchandising businesses will be undertaken and competencies especially in the use of account titles, the recording of various business transactions and the preparation of the financial statements will be learned. This course is being offered so that the various users particularly owners, creditors and managers will analyze and evaluate how transactions affect the financial position, operating results and cash flow of the firm, and how these transactions are eventually represented in the financial statements.
Module Objectives
Module Objectives
At the end of module, the participant will be able to:
- Explain the role accounting plays in the functioning of profit and not-for-profit entities, and the economy as a whole;
- Identify the basic functions of business and how these functions are reflected in the financial statements;
- Define generally accepted accounting principles including the concepts and principles used in accounting practice;
- Analyze key processes in the accounting cycle for both service and merchandising firms;
- Solve and prepare the financial statements;
- Synthesize how key accounts are recognized, measured and are represented in the basic financial statements.
Module Outline
Session 1:
- Conceptual Framework & Financial Reporting
- Accounting concepts, principles and standards (PAS/IAS, PFRS/IFRS)
- Assumptions, Principles and Constraints
- Investing activities and assets
- Financing activities and equities
- Operating activities and the revenue and expense accounts
Session 2:
- Accounts for Service and Merchandising firms
- Rules of Debit and Credit
- Recording and posting of business transactions
- Use of Special Journals
Session 3:
- Preparation of the Trial Balance
- Recording and posting of adjusting entries
- Preparation of the Statement of Financial Position and the Income Statement
- Recording and posting of closing entries
- Preparation of the Post-closing Trial Balance
Session 4:
- Importance of a cash flow statement
- The structure and sections in the cash flow statement
- Construction of a cash flow statement
Session 5:
- Recognition, measurement and disclosure of Asset Accounts
- Recognition, measurement and disclosure of Equity Accounts
- Recognition, measurement and disclosure of Revenue and Expense Accounts
Lecturer
Lecturer: Marilou San Agustin-Quibuyen, CPA, MBA
Marilou Quibuyen is a CPA with an MBA from De La Salle University.
She is currently a part-time professor at De La Salle College of St. Benilde SMIT-EMP and a contractual lecturer at the School of Professional and Continuing Education (SPaCE).
She previously worked as a part-time faculty at UPHSD, SPU-M, DLSU, SSC, UST, Asia Pacific College, Southville International School & Colleges, and Manila Business College. She also served as a full-time faculty member at the University of Makati for a year and has been in the academic field for 18 years.
She is also a freelance accounting and finance trainer / facilitator and provides consultancy services on tax and financial reporting to SMEs on a periodic basis.
She worked in the corporate world for 6 years prior to entering the academic profession. She was employed as a Senior Tax and Management Accountant at Schlumberger Philippines, a Finance Auditor at F. Jacinto Group, Inc. and an Internal Auditor at Toyota Alabang, Inc, respectively.
