Scribd
Upload
34 views3 pages

BS 120 Course Outline

Uploaded by

Innocent Mpande
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
34 views3 pages

BS 120 Course Outline

Uploaded by

Innocent Mpande
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 3

1

THE COPPERBELT UNIVERSITY


SCHOOL OF BUSINESS

DEPARTMENT OF FINANCE & ACCOUNTING

COURSE: BF 120 PRINCIPLES OF FINANCIAL ACCOUNTING

A. OBJECTIVES

(a) To provide a foundation in financial accounting on which to build in


subsequent courses to ensure graduates in accounting will understand
current accounting practice and will be able to critically appraise that
practice and alternative developed overtime.

(b) To provide business graduate with a sufficient knowledge of financial


accounting so that they can prepare, understand and interpret basic financial
statements.

(c) To develop an inquisitive approach to accounting practice which will lead to


further study of the principles and theories of financial accounting.

B. CONTENT

1. INTRODUCTION

Nature, purposes, and role of accounting; the accountant in society;


economic and legal framework; users of accounting information and their
requirements; overview of the accounting process; principles, concept; and
conventions, underlying the accounting model, the institutional and
regulatory framework of accounting.

2. ACCOUNTING MODEL, RECORDING TRANSACTIONS, REPORTING


RESULTS

Accounting equation, nature of assets, liabilities, owners equity, statement of


financial position , impact of transactions, double entry system of book keeping;
revenues and expenses, accruals and matching concepts, classification of
expenditure between capital and revenue, nature of profit, profit versus cash,
income statement; source documents and books of first entry, posting to the
nominal ledger, subsidiary ledgers and control accounts (receivables and payables),
bank reconciliation, trial balance, accruals and prepayments, closing off procedures
and preparation of final accounts.
2

3. YEAR-END ADJUSTMENTS

Non-current assets valuation, nature and methods of depreciation, acquisition and


disposal of non-current assets, inventory valuation methods, bad debts, allowance
for receivables, location and correction of errors, suspense accounts.

4. MANUFACTURING ACCOUNTS

Calculation of cost of goods produced, recording of and accounting for material


(including pricing of issues) and payroll costs, trading and profit and loss accounts.

5. INCOMPLETE RECORDS

Preparation of accounts from limited information and single entry book keeping.

6. INCOME AND EXPENDITURE ACCOUNTS

Preparation of accounts of clubs, societies and other non-commercialised/non-profit


making organisations, receipts and payments accounts, income and expenditure
account.

7. INTRODUCTION TO PARTNERSHIP ACCOUNTS (Partnership Act 1890)

Nature of partnership, partnership agreement, partners capital accounts, current and


loan accounts, profit and loss appropriation account, interest on partners capital
accounts, current accounts, drawings, partners salaries, goodwill, admission and
retirement of partners, change in partnership agreement.

8. INTRODUCTION TO THE ACCOUNTS OF LIMITED COMPANIES

Nature of a limited company, share capital, preparation of final accounts, including


form and content, reserves, share premium account, dividends, appropriation
account, preliminary expenses.

9. USES AND INTERPRETATION OF FINANCIAL STATEMENTS

Introduction to ratio analysis to assess profitability, liquidity and risk, value and
limitations of ratio analysis, introduction to cash flow statements (formerly
statement of source and application of funds).

C. ASSESSMENT
Assignments 10%
End of 1st Term Examination 15%
End of 2nd Term Examination 15%
Final Examination 60%
100%
3

D. RECOMMENDED READING BOOKS

Essential:

Business Accounting Vol. 1 F. Wood Pitman

Accounting & Finance:


A Firm Foundation A. V. Pizzey Cassell

Appropriate BPP Manual BPP BPP

Supplementary:

Principles of Book Keeping and


Accounting J. Paul Primrose

Financial Accounting: An Introduction P. Walgenbach, Harcourt


A.Pittrich & Brace
E. Hansen Javanovich

A Practical Foundation in Accounting H. Johnson & Allen


A. Whitlam
Introduction to the Theory and
Context of Accounting A. Sidebothan

Accounting Theory and Practice M. Glautier &


B. Underdown Pitman

Business Accounting 2 F. Wood Pitman

NOTE: Latest editions of text books are used.

ACCA/CIMA Manuals.

You might also like