SBU/BUS 104 FOUNDATION OF ACCOUNTING II

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UNIVERSITY OF CAPE COAST

SCHOOL OF BUSINESS

DEPARTMENT OF ACCOUNTING AND FINANCE

BUS/SBU 104 FOUNDATION ACCOUNTING II 3 CREDITS

COURSE OUTLINE FOR 2015/2016 ACADEMIC YEAR SECOND SEMESTER

COURSE DESCRIPTION

This course builds on the concepts and Principles of Foundation of Accounting I. It is designed to equip students with the skills for preparing and presenting basic financial statements of small and medium-sized enterprises with emphasis on manufacturing concerns, organizations with incomplete records, non-profit making organizations, partnership firms and limited liability companies. The course also exposes students to application of relevant accounting standards relating to the preparation and presentation of these financial statements.

COURSE OBJECTIVES

By the end of this course, the student should be able to:

· Explain the nature and function of manufacturing concerns

· Prepare accounts of manufacturing concerns

· Prepare accounts from incomplete records

· Prepare accounts for non-profit making organizations

· Demonstrate an understanding of procedures for establishing partnerships and companies

· Demonstrate an understanding of legal provisions for operating partnerships and companies in Ghana

· Prepare the partnership accounts of SMEs

· Account for issue of shares

· Prepare accounts of SMEs operating as limited liability companies

· Prepare departmental and branch accounts of SMEs

TOPICS TO BE COVERED

REFERENCES:

BPP Learning Media (2012) IFRS Explained London: BPP House

Jennings, A. R. (1999). Financial accounting. London: DP Publication.

Libby, R., Libby, P. A. & Short, D. G. (2004). Financial accounting. New York, N.Y:

McGraw-Hill/Irwin.

Millichamp, A. H. (1990). Foundation accounting, London: DP Publications Ltd.

Marfo-Yiadom, E., Asante, S. & Tackie, G. (2015). Financial accounting and reporting. An introduction. Accra: Kwadwoan Publishing.

Thomas, A. (1999). An introduction to financial accounting. Berkshire: McGraw-Hill International (UK) Limited.

Wood, F. & Sangster, A. (2012). Business accounting I. London: Pearson Education Limited.

HOW TO PASS SBU 104

To pass the course you must pass both the overall continuous assessment score and the examination. Performance in the course will be assessed on the following basis:

· A Coursework Quiz and/or Assignment 40% (Weeks 5 and 8)

End of Semester Examination 60%