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;
for single entry and incomplete records, by knowing the need for proper
books of accounts.
assets and liabilities and the admission of a partner (partnership).
the formation of a company, shares and share of a company and company
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.