At the end of this course, the students; 1) Identify and apply basic generally accepted accounting principles. 2) Identify specific journals for each type of transaction and record common business transactions. 3) Determine and classify the internal events requiring adjustment, journalize and post adjusting entries. 4) Prepare some of the basic adjusting entries at the end of the period and be familiar with the accounting cycle. 5) Analyze existing account balances, prepare end-of-period adjusting entries with or without a worksheet; prepare closing entries and a post-closing trial balance. 6) Prepare a multiple-step income statement, an owners equity statement, and a classified balance sheet. 7) Use the financial statements and financial information to manage and evaluate the results of business operations.
MODE OF DELIVERY
Face to face
PRE-REQUISITES OF THE COURSE
No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT
No
COURSE DEFINITION
This course introduces to the students the account-by-account examination of financial statement elements, inventory costing methods, revaluation for fixed assets, depreciation methods, accounting for short-term investments, accounting for long-term investments, preparation of financial statements other than the basic financial statements and inflation accounting.
COURSE CONTENTS
WEEK
TOPICS
1st Week
Introduction
2nd Week
Inventories
3rd Week
Inventories
4th Week
Plant Assets and Natural Resources
5th Week
Intangible Assets
6th Week
Current Liabilities
7th Week
Non-Current Liabilities
8th Week
Midterm
9th Week
Organization and Share Transactions
10th Week
Dividends and Retained Earnings
11th Week
Problem Solving
12th Week
Investments
13th Week
Investments
14th Week
Problem Solving
RECOMENDED OR REQUIRED READING
Financial Accounting IFRS Edition, 3 rd or 4 th Ed., Jerry J. Weygandt,Paul D. Kimmel, Donald E. Kieso, John Wiley and Sons, Inc.