PURPOSE OF COURSE
The course focuses on the students ability in
applying the fundamentals principles and concepts of accounting (financial
accounting) covered in the first year of their study and how these concepts can
be applied to solve intermediate accounting problems. Mostly the course covers areas like
introduction of the accounting conventions, incomplete records; company
accounts cash – flow statements, contract accounts, and conventions, of
partnership into a limited company, budgeting and the preparation of forecast
financial statements. Despite its
pervasiveness, the course has as pre – requisite only a basic understanding of
accounting algebra and elementary application of the concepts.
By the end of the course unit students should
be able to;
the account for single entry and incomplete records, by knowing the need
for proper books of accounts.
the Revaluate assets and liabilities and the admission of a partner
the formation of a company, shares and share of a company and company final
of cash flow statements and its limitations.
of cash budgets and forecast financial statements.
methods of charging goods to the branches, cost price and selling method.