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Course Outline (Intermidiate FA II)

The document outlines the course details for Intermediate Financial Accounting II, part of the BA degree in Accounting & Finance. It covers key topics such as current and non-current liabilities, investments, leases, and revenue recognition, aiming to equip students with essential accounting skills and ethical judgment. The course includes assessments like tests, assignments, quizzes, and a final exam, with a total of 6 ECTS credits awarded upon completion.

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Mohammed Sulti
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32 views3 pages

Course Outline (Intermidiate FA II)

The document outlines the course details for Intermediate Financial Accounting II, part of the BA degree in Accounting & Finance. It covers key topics such as current and non-current liabilities, investments, leases, and revenue recognition, aiming to equip students with essential accounting skills and ethical judgment. The course includes assessments like tests, assignments, quizzes, and a final exam, with a total of 6 ECTS credits awarded upon completion.

Uploaded by

Mohammed Sulti
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Department of Accounting and Finance

Department Accounting & Finance


program BA degree in Accounting & Finance
Course AcFn3022
Number
Course Title Intermediate Financial Accounting II
ETCTS 6
Credits
Contact Hours 4
(per week)

Course Objectives & Competences to be Acquired


This course is the continuation of Intermediate Financial Accounting I. Upon completion of this
course, students will be able to:
 Describe the nature of current liabilities, provisions, and contingencies and their respective
accounting and reporting treatments;
 Explain the recognition and valuation of intangible assets;
 Discuss the nature, valuation, recognition and presentation of investments in financial assets;
 Discuss the accounting and reporting for transactions related to the components of
shareholders’ equity;
 Discuss the nature and accounting treatment of leases and pensions;
 Demonstrate the ability to apply disclosure requirements pertaining to the financial statement
items covered in this course; and
 Demonstrate the ability to exercise professional and ethical judgment in the application of the
proper accounting and reporting methods.
Course Description
This course is the continuation of Intermediate Financial Accounting I. It is one of the core
accounting courses offered by the department. Like the first part, it basically deals with the
application of financial accounting theory for business organizations. It also tries to introduce students
with the financial accounting applications in the Ethiopian business environment. The course includes
topics, namely, plant, property, and equipment; Intangible assets; investments; current and non-
current liabilities; leases; statement of cash flows; and pension.
WEEKS Course Contents

1. Current Liabilities, Provisions, and Contingencies


2WEEKS 1.1. Nature and types of current liabilities
{1ST&2ND }
1.2. Recognition and measurement of provisions
1.3. Contingencies
1.4. Presentation of current liabilities

2. Non-Current Liabilities
2 WEEKS 2.1. Nature and classifications of non-current liabilities
{3RD& 4TH }
2.2. Recognition and valuation of bonds
2.3. Extinguishments

3. Investments
3 WEEKS 3.1. Nature and classification of investments
{5TH, 6TH& 3.2. Accounting for debt investments
TH
7 }
3.3. Accounting for equity investments
3.4. Impairment of value
3.5. Transfer between categories

4. Leases
7.1 The leasing environment
1 WEEK
{8TH }
7.2 Classifications of lease
7.3 Overview of Ethiopian lease business law
7.4 Accounting by the lessee
7.5 Accounting by the lessor
7.6 Special accounting problems

5. Deferred Taxation
2 WEEKS 5.1. Accounting income versus taxable income
{9TH&10TH }
5.2. Recap of temporary versus permanent differences
5.3. Deferred tax liabilities versus deferred tax assets
5.4. Tax losses carried forward
5.5. Disclosures

2 WEEKS 6. Revenue Recognition


{11TH &12TH} 6.1. Revenue recognition framework
6.2. Long-term construction contracts
6.2.1. Overview of Ethiopian construction sector
6.2.2. Basic terminologies in construction contracts
6.2.3. Revenue recognition

1 WEEK 7. Accounting Policies, Changes in Accounting Estimates and


{13TH } Errors
7.1. Treatment of changes in accounting policy
7.2. Treatment of changes in accounting estimates
7.3. Treatment of changes in errors

2 WEEKS 8. Statement of cash flows


{14TH & 15TH} 9.1. Usefulness of the statement
9.2. Preparation of the statement
9.3. Significant non-cash financing and investing activities

1 WEEK 9. Agricultural accounting


{16TH} 9.1. Basic terminologies in agricultural accounting
9.2. Recognition and measurement of agricultural produces
9.3. Reporting and disclosure requirements

Assessment/ The evaluation scheme will be as follows:


Evaluation Component Weight coverage
Test 1 15% Chapter 1 & 2
Test 2 15% Chapter 3
Assignment 1 5% Chapter 1 &2
Assignment 2 5% Chapter 3 & 4
Quiz 1 5%
Quiz 2 5%
Final Exam 50% All chapters
Work load in
hours
Hours Required
Total
Assess Tutori Self- Assign Advi ECTS
Hrs
Lectures Lab ments als Studies ment sing
64 - 22 12 64 - - 162 6
Text Book:
Text and  Kieso, D. E., Weygandt, J. J., & Warfield, T. W. (2016).
reference books Intermediate Accounting, IFRS Edition, New York: John Willey &
Sons.
 Commercial Code of Ethiopia
 Ernst & Young LLP (2016), International GAAP, John Wiley
& Sons Ltd.
 www.ifrs.org
 IFRS Blue Book

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