This course intends to introduce students with knowledge of
Financial Accounting required to
help them to understand the process of financial management required to develop modern
accounting information systems.
help them to understand the process of financial management required to develop modern
accounting information systems.
Introduction to Accounting, Accounting Principles, Book
Keeping, Basics of Financial
Statements, Adjustments to Financial Statements, The Cash Book, Bank Reconciliation, Control
Accounts, Property, Plant and Equipment (PPE), Accounting Errors, Accounting for
Partnerships, Balance Sheet, Financial Asset, Accounting for inventories. Funds flow statement
and simple cash flow activities.
Statements, Adjustments to Financial Statements, The Cash Book, Bank Reconciliation, Control
Accounts, Property, Plant and Equipment (PPE), Accounting Errors, Accounting for
Partnerships, Balance Sheet, Financial Asset, Accounting for inventories. Funds flow statement
and simple cash flow activities.
1.
Introduction to Accounting: Nature, Purpose and Scope of
Accounting, Objectives of
Accounting, Users of Accounting Information and Their Respective Needs, Qualities of
Useful Accounting Information, Accounting Principles: Going Concern, Accruals,
Consistency, Prudence, Business Entity, Duality, Monetary Measurement, Substance
Over Form, Realization.
Accounting, Users of Accounting Information and Their Respective Needs, Qualities of
Useful Accounting Information, Accounting Principles: Going Concern, Accruals,
Consistency, Prudence, Business Entity, Duality, Monetary Measurement, Substance
Over Form, Realization.
2.
Book Keeping: The Accounting Cycle, Double Entry
Book-Keeping and Books of
Original Entry, The Ledgers, Cash Book and the Trial Balance.
Original Entry, The Ledgers, Cash Book and the Trial Balance.
3.
Basic Financial Statements: Structure of Financial
Statements for a Sole Trader,
Statement of Financial Position (The Balance Sheet) for A
Sole Trader.
4.
Adjustments to Financial Statements: Carriage In and
Carriage Out, Bad Debts, Bad and
Doubtful Receivables, Bad Debts Recovered, Drawings, Discount Received and
Allowed, Accrued and Prepaid Income and Expenses and Depreciation and Disposal of
Property, Plant and Equipment.
Doubtful Receivables, Bad Debts Recovered, Drawings, Discount Received and
Allowed, Accrued and Prepaid Income and Expenses and Depreciation and Disposal of
Property, Plant and Equipment.
5.
The Cash Book: Two Column Cashbook, Three Column Cashbook,
Analytical Cashbook
and The Petty Cashbook.
and The Petty Cashbook.
6.
Expected Learning Outcomes: Purpose of Bank Reconciliation,
Causes of Differences
Between Cash and Bank Balances, Bank Reconciliation Process, Bank Overdrafts, and
DishonouredCheques.
Between Cash and Bank Balances, Bank Reconciliation Process, Bank Overdrafts, and
DishonouredCheques.
7.
Control Accounts: Uses of Control Accounts, Sales and
Purchases Ledger Control
Accounts.
Accounts.
8.
Property, Plant and Equipment (PPE): Classification of
Long-Term Assets, Accounting
For PPE, Revenue and Capital Expenditure, Relevant Cost of PPE, Methods of
Estimating Depreciation, Revaluation Method, Revaluation of PPE, Exchange of Assets,
Disposal of Assets, Schedule of PPE and Presentation and Disclosure of PPE in the
Financial Statements.
For PPE, Revenue and Capital Expenditure, Relevant Cost of PPE, Methods of
Estimating Depreciation, Revaluation Method, Revaluation of PPE, Exchange of Assets,
Disposal of Assets, Schedule of PPE and Presentation and Disclosure of PPE in the
Financial Statements.
9.
Accounting Errors: Types of Accounting Errors, Errors Not
Affecting the Trial Balance
and Errors Affecting the Trial Balance.Adjusted Trial Balance, Closing entries and post-
closing Trial Balance.
and Errors Affecting the Trial Balance.Adjusted Trial Balance, Closing entries and post-
closing Trial Balance.
10.
Accounting for Partnerships: Introduction to Partnerships,
Partnership Agreements,
Appropriation of Profit, Personalaccounts, Partners Loan Accounts.
Appropriation of Profit, Personalaccounts, Partners Loan Accounts.
•
Financial & Managerial Accounting by Jan Williams, Sue
Haka, Mark Bettner and
Joseph Carcello, McGraw-Hill/Irwin; 16th Edition (2011). ISBN-10: 0078111048
Joseph Carcello, McGraw-Hill/Irwin; 16th Edition (2011). ISBN-10: 0078111048
•
Fundamental Accounting Principles with Connect Plus by John
Wild, Ken Shaw, and
Barbara Chiappetta, McGraw-Hill/Irwin; 20th Edition (December 27, 2010). ISBN-10:
0077505980
Barbara Chiappetta, McGraw-Hill/Irwin; 20th Edition (December 27, 2010). ISBN-10:
0077505980
•
Principles of Managerial Finance by Lawrence J. Gitman and
Chad J. Zutter, Prentice
Hall; 13th Edition (2011). ISBN-10: 0136119468
Hall; 13th Edition (2011). ISBN-10: 0136119468
•
Accounting Principles by Jack L. Smith, Robert M. Keith and
William L. Stephens,
McGraw-Hill Companies, 3rd Edition (1993). ISBN-10: 0070430748
Accounting: A Business Perspective
(Irwin/Mcgraw-Hill Series in Principles ofMcGraw-Hill Companies, 3rd Edition (1993). ISBN-10: 0070430748
Accounting) by Roger H. Hermanson, James Don Edwards and Michael W. Maher
(1998).ISBN-10: 0075615851
Note: This content is obtained from official documents of University
of Sargodha and applied on BS Computer Science for Main Campus,
Sub Campuses, and Affiliated Colleges.
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