Phinma - University of Iloilo

Syllabus
PEN Code:
ACC082
PEN Subject Title: Basic Accounting for HM and TM

Credit:
3 units
Prerequisite: None

1.

Subject Description:
This course deals with the certain principles of accounting and accounting practices useful in hotel and restaurant and the
tourism industries. Emphasis is put on the process of generating financial statements and using the financial statements in decision
making.

2.

Objectives: (students should be able to :)

a. Understand the principles of accounting and relate its importance to hotel and restaurant management and tourism management.
b. Appreciate the importance of accounting in decision making in the industry.
c. Understand the process of generating financial statements.
d. Use the financial statements in the decision-making process.

3.

Subject Outline and Time Allotment

Chapters
Introduction of Accounting in
Business

Accounting Principles and

Concepts

Accounting Principles,
Accounts, and Accounting
Equation
Debit and Credit Principles and
Journalization Service
Concern

First Periodical Exam

Financial Statement

Accounting for Merchandising

Business

Recording Selected Business

Transactions

Accounting for Manufacturing

Business

Second Periodical Exams

Adjusting Entries
Preparation of Worksheet
Recording of Closing and
Reversing Entries

Topics
The CPA and the Accounting Profession
Formation of Business
Business Activities
Financial Reports and their Users
Fields and Areas of Accounting
Regulating the Practice of Accountancy
The Accountancy Act of 2004
Accounting Principles and the Qualitative Characteristics of FS
Ethical Standard
Social Responsibility and Inherent Qualities
Internal Auditing
GAAP
The Accounting Structure of a Business
Accounting Values and the Balance Sheet
The Accounting Cycle
Documentation
Chart of Accounts
Journalizing and the Rules of Debit and Credit
Posting and the Ledgers

The Financial Statements

Objectives of General Purpose FS
Forms of Financial Statements
The Merchandising Business
Transactions Specific to Merchandising Business
Service Business and Merchandising Compared
Accounting for Inventory
Financial Statements of Merchandising Business
Investments of the Owner
Purchase of Property
Owners Drawing
Recording of Other Transactions
The Manufacturing Business
Costs in Manufacturing Business and Cost Accounting
Periodic Inventory System
Reporting Results of Operations
Statement of Cost of Goods Sold

Accrual Method for Income and Expenses

Preparing the FS
Posting to the Ledger
Steps in Recording Closing Entry
Transfer Accounts to the Next Accounting Period
Double-Ruled Accounts
Preparing a Post-closing Trial Balance

1
This syllabus is standardized and the required syllabus for the CMA Department.

Schedule
Day 1-2

Day 3-4

Day 5-7

Day 8-11

Day 12
Day 13-14

Day 15-17

Day 18-20

Day 21-23

Day 24
Day 25-27
Day 27-30
Day 31-32

Accounting System: Special

Journals

Recording of Reversing Entries

Combination Journal
Special Journals

Day 33-35

Third Periodical Exams

4.
5.
6.
7.

Day 36

Books and References: Accounting for Hotel and Restaurant Management and Tourism Industry by Bartolome R. Urbano
Course Requirements/Components: Attendance, Quizzes, Recitation, Seatworks, Boardworks, Periodical Exams
Grading System: Formula: FG = (33% x FPG)+(33% x SPG) + (34% x TPG)
Where: FPG is first periodical grade; SPG is second periodical grad; TPG is third periodical grade;
Contact Information:
Professor: __________________________
Mobile No.: ________________________
E-mai Address: ______________________

2
This syllabus is standardized and the required syllabus for the CMA Department.