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Programe BS Accounting & Finance Semester 6 Course Title Advanced Accounting Course Code ACC350 Credit Hours 45 (3 Hour Per Week)

This document outlines a course in Advanced Accounting. The 6th semester course is worth 45 credit hours and covers topics such as preparing financial statements for companies and valuing a firm's securities. Students will develop problem solving, technology, and ethics skills. Evaluation is based on midterm and final exams, plus sessional assessments, with grades ranging from A+ to F.

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302 views3 pages

Programe BS Accounting & Finance Semester 6 Course Title Advanced Accounting Course Code ACC350 Credit Hours 45 (3 Hour Per Week)

This document outlines a course in Advanced Accounting. The 6th semester course is worth 45 credit hours and covers topics such as preparing financial statements for companies and valuing a firm's securities. Students will develop problem solving, technology, and ethics skills. Evaluation is based on midterm and final exams, plus sessional assessments, with grades ranging from A+ to F.

Uploaded by

hhaider
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Course Outline

Programe BS Accounting & Finance


Semester 6th
Course Title Advanced Accounting
Course Code ACC350
Credit Hours 45 (3 hour per week)

Course Description:
These courses will provide ample opportunity to contribute to achieving outcomes through presentations, writing, mathematical
knowledge demonstration, and technology exploration.

Course Objectives:
The goals of these courses are having students:
1. Master basic concepts of recording and interpreting financial data of various types of businesses.
2. Demonstrate problem-solving skills relating to the use of spreadsheets and automated accounting software.
3. Gain an understanding of financial markets and the investment vehicles available to make personal financial decisions.
4. Develop a sense of responsibility, integrity, and business ethics.
5. Develop the business skills necessary for future study of business administration.

Course Outcomes:
Upon successful completion of these courses, a student will be able to:
 Understand, apply and discuss current issues and topics in accounting.
 Understand and recognize the importance of the conceptual framework of the financial accounting
model.
 Understand the Role of Accounting Information in Stock Markets.
 Understand the Role of Accounting Information in valuing a firm’s securities.
 Understand financial accounting theory.
Course Contents:

Topic Book Sections


Preparation of final accounts under Companies Ordinance 1984 A
 Companies Ordinance 1984, Fourth Schedule. And fifth schedule Ch.1 book 1
 General, Trading Account, Profit and loss Account, Profit and loss appropriation account,
 Balance Sheet and treatment of certain items in preparing Companies Financial Statements Ch. 16 book 3
like dividends, reserves, excise duty and sales tax, long term loans and current maturity,
issue of shares, allowances for bad debts, rectification of errors, workers profit participation
fund, worker’s welfare fund, bank margins and guarantees. Comprehensive illustrations
 EPS, Basic EPS, Primary EPS, Diluted EPS, Fully Diluted and Anti Diluted EPS, State the
major reporting and disclosure requirements for earnings per share. Account for purchased
stock warrants.
Business Combinations Ch.15 book 2 A
 Merger and Acquisition. Vol 2
Departmental Accounting Ch.1 book 2 B
 Advantages of departmental accounts. Vol 2
 Departmental accounts when separate set of books are maintained and when all
departments are kept together.
 Allocation of departmental expenses.
 Inter departmental transfers. Cost based transfer price, market based transfer price.
Branch Accounting Ch.2 book 2 B
 Types of Branches, Debtor System, Stock and Debtor system, Vol 2
 Sale of goods above and below invoice price,
 Final account system, whole sale and retail profit at branch.
Joint Venture Ch.13 book 2 B
 Features of a Joint Venture, methods of maintaining accounts, abnormal and normal Vol 1
losses.
Consignment Ch.14 book 2 C
 Introduction of consignment, distinction between sale and consignment, procedure Vol 1
for consignment transaction, valuation of unsold stock.
 Cost price method and invoice price method
 Advance made by consignee, normal and abnormal loss.

Accounting for Leases IAS-17 Ch.2 book 1 C


 Basic lease accounting issues and procedures,
 Accounting for finance lease in the books of lessor and lessee including financial
statement disclosures, Accounting for operating lease.
Accounting for Construction Contracts and IAS-11 Ch.3 book 1 C
 Basic concepts and rules, Contract revenues and costs
 Profit and loss recognition
 Percentage completion method- cost to cost method
 Accounting entries and financial statement disclosures
 Work certified and uncertified

Recommended Texts
1. Javed H. Zuberi , “Advanced Accounting”, 2009, Petiwala Book Depot.
2. Mukherjee A. Hanif, “Modern Accountancy”, Volume I-II. 2nd Edition.

Suggested Readings
3. Kieso, Weygandt, and Warfield Intermediate Accounting, 12th Edition Wiley higher education.
4. Gupta, R.L. & Swamy, M. Radha, “Advanced Accounting”, Sultan Chand & Sons
5. Shukla M.C & Grewal, T. S , “Advanced Accounts” Volume 1 and 2, 15th Ed. Sultan Chand & Sons.
6. International Accounting Standards Committee Foundation (IASCF) 2005, International Financial Reporting Standards
(IFRSs), London United Kingdom.

Teaching Methods/Class Activities


Students should actively engage in the learning process and in putting concepts learnt into practice through
action learning, lectures, and readings learning modes:

A. LecturesClass sessions will involve lectures, video shows, case studies, assignments, quizzes, discussions
and debates, and presentations of related topics and current issues related to course contents.
B. ReadingsThis is the responsibility of all students. Students should read the relevant chapters of the
textbook, materials, and information on indicated websites before class. They should be prepared to raise
questions and arguments in class on related topics in the class schedule.

STUDENT EVALUATIONS & GRADES


TheBreak up of marks and final grade is based Final Grade Grade Mark
upon:
Mid-Term Exam 30% A+ 90-100
Final Exam 50% A 80-89
Sessionals 20% B+ 75-79
Total 100% B 70-74
B 65-69
C+ 60-64
C 50-59
F Below 50

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