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Program |
Finance, Accounting, BIT, BBIT, Marketing, Procurement, PALG |
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Faculty |
Business Management and Economics |
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Module code |
BAC 113 |
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Lecturer |
Names: Mrs.UWIHIRWE Régine Tel: 078 328 09 53 E-mail: ruwihirwe@uok.ac.rw Consultation hours:5:00p.m to 6:00p.m Monday to Thursday |
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Period |
Start Date: March-April 2021 |
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Programme |
Day-Evening & Weekend |
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Study cycle |
Undergraduate |
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Study Trimester |
1 |
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Modulestatus |
Optional |
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Amount of credits and distribution of hours |
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Admission preconditions |
No prerequisite needed |
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Purposes of the module |
To develop the learners understanding of the following: · Principles of book-keeping and accounts · The ability to maintain books of accounts and · Preparation of financial statements
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Learning outcomes |
By the end of the course unit the student should be able to: · Compile accounting data · Prepare financial statements · Interpret accounting information · Use accounting information in decision making. |
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Knowledge and understanding |
Having successfully completed the module, students should be able to: · Apply Principles of book-keeping and accounts · Have the ability to maintain books of accounts · Apply the introduction to Financial Accounting knowledge in any working environment |
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Applying knowledge
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- Apply a relevant theoretical framework in planning, conducting and supervising innovative research projects. |
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Making judgments
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- Evaluate the usefulness of bookkeeping principles in a particular organization and how they contribute to the overall performance; - Understand and be able to match the decision-making process with preparation of final accounts by clearly identifying the relevance of them to each step of the process. - Critically analyse raw data and interpret it using a relevant theoretical and practical framework. |
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Communication skills
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Having successfully completed the module, students should be able to display practical communication skills related to: - Incorporate accounting professional terminology while communicating their views orally or in writing; - Communicate with colleagues and management by explicitly stating their opinion on introduction to Financial Accounting at discussions, seminars, conferences, meetings, etc.; - Present complex data and analysis in a clear and concise manner by using appropriate information and communication technologies.
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Learning skills
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Having successfully completed the module, students should be able to share skills related to: - Principles of bookkeeping and accounts in any business organization - Preparation of final accounts in any working environment - Interpretation of accounting information in any working environment |
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Values
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- Being diverse in the sense of dealing with people with different backgrounds, mainly students with language barriers. - Being a learner-centered class. - Build Self-confidence - Time-keeping - Team work |
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Content (the content of the teaching for each day will be outlined)
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Day 1 : Lesson one:Introduction to Financial Accounting Contents: · General Introduction · Definitions and meanings of accounting, · Branches of accounting · The Nature and Purpose of Accounting · Users of Accounting Information · Qualities of useful Financial Information · Review Questions
Required readings: · Wood, Frank, Business Accounting (17th Edition), International Thompson. Pages 3-5, 82-93. · Honrgren and Sundem, G. L, Introduction to Financial Accounting, (6th Edition), New York; Prentice Hall. pages 6-12
Day2 and 3: Lesson two:Recording business transactions Contents: · Introduction · Accounting Concepts and Conventions · Accounting cylce · Components of accounting equations · Double Entry Aspects · Accounting for Sales, Purchases, Incomes and Expenses. · Returns Inwards and Returns Outwards
Required readings: · Wood, Frank, Business Accounting (17th Edition), International Thompson. Pages 5-14,15-52. · Honrgren and Sundem, G. L, Introduction to Financial Accounting, (6th Edition), New York; Prentice Hall. pages 6-12, 44-45 · Heinz and Party,College Accounting, (18th Edition).pages 6-12. Day 4: Lesson two (continued) · Accounting for Drawings, Discounts Allowed and Discounts Received. · General Journal · Ledger · Trial Balance · Review Questions & Exercises Day 5 and 6: Lesson three: Source documents and books of original entry · Definition and Purpose · Balancing The Ledger · Trial Balance · Review Questions & Exercises
Required readings: · Wood, Frank, Business Accounting (17th Edition), International Thompson. Pages 107-164 · Honrgren and Sundem, G. L, Introduction to Financial Accounting, (6th Edition), New York; Prentice Hall. pages 49-57 · Heinz and Party,College Accounting, (18th Edition).pages 47-52.
Day 7: Lesson three ( continued): · Two Column Cash Books · Three Column Cash Book · Exercises Day 8 and 9: Lesson six: Bank reconciliation · Introduction · Adjusted cash book and bank statement · Purposes of Bank Reconciliation Statement & Exercises Required readings: · Wood, Frank, Business Accounting (17th Edition), International Thompson Pages 308- 318 Day 10. year end adjustments · Accruals, Prepayments, Bad & Doubtful debts · Accounting treatment for Accruals, Prepayments, Bad & Doubtful debts · Exercies Day 11. CAT Day 12. Lesson seven: Depreciation · Methods of Calculating Depreciation · Accounting Treatment on Depreciation
Required readings: · Wood, Frank, Business Accounting (17th Edition), International Thompson Day 13. Lesson eight: Final Accounts · Income Statements · Statement of Financial Position/Balance Sheet
Required readings: · Wood, Frank, Business Accounting (17th Edition), International Thompson. Pages 171-189.
Required readings: · Honrgren and Sundem, G. L, Introduction to Financial Accounting, (6th Edition), New York; Prentice Hall. · Heinz and Party, college accounting, 18th edition. Other recommended readings · International accounting standards (IASs) and International reporting standards (IFRs) · KASNEB newsletters. · The journal of accountants-ICPAK. · Wood, Frank, Business Accounting (17th Edition), International Thompson. · Other support materials: Various applicable manuals and journals; variety of electronic information resources. Day 14: Overview of the whole course and presentation of findings in group assignments
Day 15: Final Exam
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Teaching / learning methods |
Teaching and learning process includes the following methods:
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Evaluation criteria |
Student may be assessed orally and/or in a written way. A student’s knowledge and skills are assessed through 100 points grading system. It consists of midterm and final evaluations – maximum 60 points in midterm evaluations and maximum 40 points in final evaluation. The following are the most important criteria to base on while evaluating · Using the required format · Brand new ideas · Scientific reasoning · Analytical thinking Learning and Teaching Strategy · The learning and teaching strategy will be student centered. Assessment Strategy · Assignment (Research and presentation) · Examination Assessment Pattern Continuous Assessment Tests: 40% Assignments (individual and group): 20% Final assessment: 40%
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Basic literature
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1. Honrgren and Sundem, G. L, Introduction to Financial Accounting, (6th Edition), New York; Prentice Hall. 2. Heinz and Party, college accounting, 18th edition. 3. International accounting standards (IASs) and International reporting standards (IFRs) 4. Wood, Frank, Business Accounting (17th Edition), International Thompson |
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Auxiliary literature |
· KASNEB newsletters. · The journal of accountants-ICPAK. · Other support materials: Various applicable manuals and journals; variety of electronic information resources as prescribed by the lecture |
- Module Team: Regine UWIHIRWE