DEC 31 2015
Account Payable Creditors
Short term Loans
Total Current Liabilities
Long term loans
PHP 800. 000
Total Long term Liabil
Statement of Cash Flows
Part I & Part II
Classifying cash flow into
Cash flow from operational activities
Cash flow from investing activities
Cash flow from financing activities
Preparing cash flow statements using
Sales Revenue &
1. Analyze the impact of credit card sales, sales discounts,
and sales returns on the amounts reported as net sales.
2. Analyze and interpret the gross profit percentage.
1. Explain the purpose of adjustments and analyze the
adjustments necessary at the end of the period to update
balance sheet and income statement accounts.
2. Explain the purpose of a trial balance.
Reporting and Interpreting Liabilities
Account for current liabilities of known
Contingent liabilities report or disclose?
Operating lease or capital lease.
Calculate payroll and payroll tax amounts
Reporting and Interpreting
1. Advantages and disadvantages of a corporation
2. Accounting for issuing and repurchasing stock.
3. Accounting for dividends payment
4. Differences between stock split and stock d
Cost of Goods Sold
Report inventory and cost of goods sold using the four inventory costing
Compare the use of different inventory costing methods.
Explain LCM Rule.
Analyze and interpr
Introduction / Overview of
1. Recognize the information conveyed in each of the four basic
financial statements and the way that it is used by different decision
makers (investors, creditors, and mana
1. Describe a typical business operating cycle and explain the necessity
for the time period assumption.
2. Explain how business activities affect the elements of the income
3. Explain the accr
The Balance Sheet
1. Define the objective of financial reporting, the elements of the balance sheet
and the related key accounting assumptions and principles.
2. Identify what constitutes a business transaction and recogn
Review Packet for Final Exam
Structure of the final exam
The exam is worth 100 marks structured as follows.
1. Multiple Choice (20 questions) comprehensive for Chapter 1-Chapter 9, Chapter 11,
Chapter 13 and Chapter 14. 40 marks in total.
2. Seven problem
Communicating and Interpreting
Ensuring the Integrity of Financial Information
Standard Setting and
Enforcement Securities Market