Courses Catalogue

Intermediate Accounting

COURSE CODE: ACC 2102
COURSE CREDIT UNIT: 3
ACADEMIC PROGRAMME: Business Administration (Finance & Banking)
COLLEGE/SCHOOL/FACULTY: College of Economics and Management
STATUS: Core
PROGRAMME TYPE: Undergraduate

Course Description

COURSE TITLE:              INTERMEDIATE ACCOUNTING

COURSE CODE:              ACC 2102

HOURS TAUGHT:           3 hrs per week

PREREQUISITES:          None

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.

 

EXPECTED LEARNING OUTCOMES

By the end of the course unit students should be able to;

  • Explain the account for single entry and incomplete records, by knowing the need for proper books of accounts.
  • Discuss the Revaluate assets and liabilities and the admission of a partner (partnership).
  • Describe the formation of a company, shares and share of a company and company final accounts.
  • Discuss of cash flow statements and its limitations.
  • Prepare of cash budgets and forecast financial statements.
  • Explain methods of charging goods to the branches, cost price and selling method.