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 Content and Outline

COURSE CONTENT

  • Introduction
  • Reasons for incomplete records
  • Need for proper books of Accounts / Advantages
  • Ascertainment of profits using the Business and Accounting equation
  • Guidelines for preparing Financial Statements
  • Sources of Information
  • Worked Examples

 

Partnership Accounts

·         Introduction.

·         Advantages of partnership.

·         Disadvantages of partnerships.

·         Types of Partners.

·         Financial Statements of partnerships.

·         Accounting for Goodwill.

·         Revaluation of Assets and Liabilities and the admission of a partner.

·         Dissolution of partnerships.

·         Conversion of a partnership into a limited company.

·         Revision Questions.

 

Company Accounts

·         Introduction

·         Essential characteristics of a company

·         Advantages of companies

·         Disadvantages of companies

·         Types of companies

·         Formation of a company

·         Shares and share capital of a company

·         Classes of capital

·         Company Final Accounts

·         Worked Examples

·         Accounting for Issue of shares

·         Worked Examples

·         Bonus Shares and Rights issue

·         Revision Questions

 

Cash Flow Statements

·         Introduction

·         Benefits of Cash Flow Statements

·         Limitations of Cash Flow Analysis

·         Presentations of Cash Flow Statements

·         Operating Activities

·         Investing Activities

·         Financing Activities

·         Worked Examples

·         Revision Questions

 

Budgeting and the preparation of forecast financial

Statements

·         introductions

·         Objectives of Budgeting

·         Types of functional Budgets

·         Advantages of Budgeting

·         Problems of Budgeting

·         Preparation of Cash Budgets and forecast financial statements

·         Worked Examples

·         Revision Questions

Branch Accounts

·         Introduction

·         Objectives of Branch Accounts

·         Types of Branches

·         Accounting for Centrally Controlled

·         Methods of charging goods to the Branches

·         Cost Price Method

·         Selling Method

·         Autonomous Branch

·         Current Account

·         Items in Transit

·         Worked Examples

·         Foreign Branches

·         Revision Questions

 

MODE OF DELIVERY

  • Lectures
  • Reading assignments
  • Practical assignments
  • Field trips
  • Documentaries

INSTRUCTIONAL MATERIALS AND / OR EQUIPMENT

·         Whiteboard and Markers

·         Flip Charts

·         LCD Projectors

·         CDs, DVDs and Tapes