The need to develop instructional materials in order to obtain quality learning standards has become a necessity to cope with the changing phase of business educational environment. The emergence of information technology has tremendously affected both industries and academic institutions. This phenomenon requires individual organizations to be more creative and innovative since it faces a global competition, where different organizations from different countries can now interact/transact business through e-commerce/e-learning.
There are processes involved in the study to develop an online courseware in accounting for business combinations. Inclusive in the processes are planning the Computer-based Instructional Module for online courseware, designing and developing, trial runs and testing; and evaluating the Computer-based Instructional Module. Based from the results of the study, the course syllabi of accounting for business combinations included the College of Business Education vision and mission and the content of the courseware was highly appreciated by the student respondents. The software program used was downloadable in the Internet and needed to be set up to run the program. It was found out that the pretest and posttest scores of both the control and experimental groups indicated significant differences.