JOSE MARIA COLLEGE

College of Business

CMBE 2: INTRODUCTORY ACCOUNTING

FOR NON-ACCOUNTANCY STUDENTS
Syllabus and Case List
Ms. Eunice L. Ambrocio, CPA
1st Semester, SY 2020-2021

Contact Information eunice.ambrocio@jmc.edu.ph

+639774979893

Course Schedule: MW 10:30-12:00nn

References: (1) PDIC Law

(2) Bank Secrecy
(3) AMLA
(4) Data Privacy Act
(5) Intellectual Property Law
(6) Electronic Commerce Act

INTRODUCTION
A. Course Overview

This course is designed for business and accountancy students to have

knowledge of the regulatory framework governing business transactions and
business organizations or associations, and of business laws including their legal
implications. They should know and understand the pertinent legal provisions,
general principles, concepts and underlying philosophy of laws applicable to
commerce or business.

At the end of this course, students are expected to:

 Have working knowledge to apply various regulatory framework
measures and the pertinent provisions of the law relative to particular
business transactions.
 Recognize the legal implications of business situations or transactions
and to know when to seek legal counsel or recommend that it be sought.
 Be familiar with client’s rights and remedies with the handling of
disputes on regulatory issues
 Be able to communicate effectively matters pertaining to the regulatory
work that will be handled
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B. Course Content

DURATION TOPICS CASELIST

PRELIMS
ELECTRONIC COMMERCE ACT
Module 9 I. Electronic Commerce Act 
1) Principles
2) Application
3) Definition of terms
4) Legal recognition and
communication of
electronic data messages
and electronic documents
5) Electronic commerce in
carriage of goods
6) Electronic transactions in
government
INSURANCE LAW
1) Concept of insurance
2) Elements of an insurance
contract
3) Characteristics and nature
of insurance contracts
4) Classes
5) Variable contracts
6) Insurable interest
7) Perfection of the contract
of insurance
8) Rescission of insurance
contracts
9) Claims settlement and
subrogation
Module 1 LAW ON CREDIT TRANSACTIONS
II. CREDIT TRANSACTIONS
(1) Pledge, Real Mortgage and
Chattel Mortgage
 Similarities
 Requisites
 Indivisibility
 Pactum Commissorium
 Third party
pledgors/mortgagors

(2) Requirements to bind the

parties and third persons

(3) Obligations and rights of

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pledgor and pledgee

(4) Obligations and rights of

mortgagor and mortgagee

(5) Modes of extinguishment

CONSUMER PROTECTION
1) Consumer Product Quality
and Safety
2) Deceptive Sales Acts and
Practices
3) Product Service and
Warranty
4) Labelling and Packaging
5) Consumer Rights
 Price Tag Act
 Lemon Law
PRELIM EXAMINATIONS
MIDTERMS
Module 2 PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC) LAW
III. PDIC LAW 1) Banco Filipino Savings and Mortgage
Bank vs. Bangko Sentral ng Pilipinas and
(1) Insurable Deposits the Monetary Board, GR No. 200678,
(2) Maximum Liability June 04, 2018
(3) Requirements for Claims
2) Peter L. So vs. Philippine Deposit
Insurance Commission GR No. 230020,
March 19, 2018

3) Ajax Marketing & Dev. Corp. vs.

Court of Appeals, G.R. No. 118585
September 14, 1995

IV. SECRECY OF BANK 1) Dona Adela Export vs Trade and

DEPOSITS AND UNCLAIMED Investment Development Corporation,
BALANCES LAW G.R. No. 201931, February 11, 2015
(1) Purpose
(2) Prohibited acts 2) Estrada vs. Sandiganbayan, G.R. No.
(3) Deposits covered 217682, July 17, 2018
(4) Exceptions
(5) Garnishment of deposits
including foreign deposits

1. Consolidated Bank and Trust

V. TRUTH IN LENDING ACT Corporation (Solidbank) vs. Court of
(1) Purpose Appeals, 246 SCRA 193, G.R. No. 91494
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(2) Obligation of creditors to July 14, 1995
persons to whom credit is 2. United Coconut Planters Bank vs.
extended Beluso, 530 SCRA 567, G.R. No. 159912
(3) Covered and excluded August 17, 2007
transactions 3. Development Bank of the Philippines
(4) Consequences of non- vs. Arcilla, Jr., 462 SCRA 599, G.R. No.
compliance with obligation 161397, G.R. No. 161426 June 30, 2005

ANTI-MONEY LAUNDERING (AMLA) LAW

Module 3 VI. AMLA Law 1) Subido Pagente Certeza Mendoza and
(1) Purpose, policies and Binay Law Offices vs. Court of Appeals,
Principles G.R. No. 216914, December 6, 2016
(2) Definition of terms
(3) Unlawful activities 2) Republic vs. Eugenio, Jr., 545 SCRA
(4) Covered persons 384, G.R. No. 174629 February 14, 2008
(5) Money laundering,
terrorism and financing and 3) Republic vs. Glasgow Credit and
asset forfeiture Collection Services, Inc., 542 SCRA 95,
G.R. No. 170281 January 18, 2008
(6) Preventive measures and
obligations of covered persons
 Prohibited accounts
 Customer due diligence

(7) Beneficial ownership

(8) Record keeping
requirements
(9) Safe Harbor

Module 4 BOUNCING CHECKS LAW (BP BLG. 22)

VII. Bouncing Checks 
(1) Requisites to be liable
under BP 22
 Checks without
insufficient funds
 Evidence of knowledge of
insufficient funds
 Duty of Drawer
 Credit Construed
(2) Comparison with Estafa
(Art. 315 {2] (d)
DATA PRIVACY ACT
Module 8 I. Data Privacy Act 
1) Definitions
2) Scope of application
3) Data Privacy Principles
4) Processing of personal
data
5) Security measures for
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protection of personal data
6) Rights of Data Subject
7) Data breach notification
8) Outsourcing and
subcontracting
agreements
9) Registration and
compliance requirements
MIDTERM EXAMINATIONS
SEMIFINALS
Module 7 INTELLECTUAL PROPERLY LAW
VIII. Intellectual Property 
Law (except provisions under
Part 1 Intellectual Property
Office)

(1) Law on Patents

(2) Law on Trademark, Service
Marks and Trade Names
(3) Law on Copyright

Module 5 FINANCIAL REHABILIATION AND INSOLVENCY (FRIA) LAW

IX. Financial Rehabilitation 
and Insolvency
1) Definition of Terms
2) Suspension of payments
3) Rehabilitation
 Types
 Commencement order
 Stay or suspension order
 Rehabilitation receiver
 Management committee
 Rehabilitation plan
 Cram down effect

4) Liquidation
 Types
 Conversion of
rehabilitation to
liquidation proceedings
 Liquidation order
 Rights of secured creditors
 Liquidator
 Determination of claims
 Liquidation of Plan

PHILIPPINE COMPETITION ACT

Module 6 X. Philippine Competition
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Act
1) Definition and scope of
application
2) Prohibited acts
 Anti-competitive
agreements
 Abuse of dominant
position
 Prohibited mergers and
acquisitions
 Exceptions

3) Covered transactions
 Thresholds for compulsory
notification
 Notifying entity
 Period of notifications
 Exceptions
SEMIFINAL EXAMINATIONS
FINALS
EASE OF DOING BUSINESS AND EFFICIENT DELIVERY OF
GOVERNMENT SERVICE ACT
1) Policy, construction and 
interpretation
2) Definition of terms
3) Coverage and scope
4) Reengineering of systems
and procedures
5) Citizen’s charter
6) Accessing government
services
7) Streamlined procedures
for the issuances of
permits and licenses
8) Violations, jurisdiction,
penalties, and immunity
GOVERNMENT PROCUREMENT LAW
1) General principles 
2) Scope and application
3) Definition of terms
4) Procurement procedures
 Preparation of bidding
documents
 Invitation to bid
 Receipt and opening of
bids
 Bid evaluation
 Post-qualification
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 Award, implementation
and termination of the
contract
5) Disclosure of relations
6) Alternative methods of
procurement
Module 6 LABOR LAW
(1) Labor Standards
 Basic pay
 Overtime premium
 Night shift differential
 Holiday premium
 13th month pay
 Leaves
 Service incentive leave
 Maternity leave
 Paternity leave
 Parental leave for solo
parent
SOCIAL SECURITY LAW
10) Definitions
11) Scope and Coverage
12) Pension, Retirement and
other benefits
13) Exemptions from tax, legal
process and lien
14) Employee’s and
employer’s contributions
15) Contributions from self-
employed member
16) Remittance of
contributions
17) Method of collection and
payment
18) Employment records and
reports
19) Penal Clauses
FINAL EXAMINATIONS
(Comprehensive)