This document outlines a Financial Accounting for Business course offered at Chinhoyi University of Technology. The course is designed to introduce students to financial accounting principles, concepts, and applications. Students will learn how to record financial transactions and interpret financial statements. Upon completing the course, students will be able to prepare financial statements, journal entries, and analyze accounting information using ratios. The course will be taught through lectures, examples, group research and presentations. Students will be assessed through tests, a group presentation, and a final exam.
This document outlines a Financial Accounting for Business course offered at Chinhoyi University of Technology. The course is designed to introduce students to financial accounting principles, concepts, and applications. Students will learn how to record financial transactions and interpret financial statements. Upon completing the course, students will be able to prepare financial statements, journal entries, and analyze accounting information using ratios. The course will be taught through lectures, examples, group research and presentations. Students will be assessed through tests, a group presentation, and a final exam.
This document outlines a Financial Accounting for Business course offered at Chinhoyi University of Technology. The course is designed to introduce students to financial accounting principles, concepts, and applications. Students will learn how to record financial transactions and interpret financial statements. Upon completing the course, students will be able to prepare financial statements, journal entries, and analyze accounting information using ratios. The course will be taught through lectures, examples, group research and presentations. Students will be assessed through tests, a group presentation, and a final exam.
This document outlines a Financial Accounting for Business course offered at Chinhoyi University of Technology. The course is designed to introduce students to financial accounting principles, concepts, and applications. Students will learn how to record financial transactions and interpret financial statements. Upon completing the course, students will be able to prepare financial statements, journal entries, and analyze accounting information using ratios. The course will be taught through lectures, examples, group research and presentations. Students will be assessed through tests, a group presentation, and a final exam.
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CHINHOYI UNIVERSITY OF TECHNOLOGY
FINANCIAL ACCOUNTING FOR BUSINESS (CUAC 111)
COURSE LECTURER: HOSHO. N 0773 115 890 nhosho@cut.ac.zw
Time Allocation: 4 hours per week, an additional hour will be reserved for tutorials should they prove necessary.
1.0 Rationale This course is designed to introduce students to the principles, concepts, and applications of financial accounting. Students are exposed to the process by which financial transactions and events are recorded, and will learn how to interpret financial statements. 2.0 Purpose This is the first and in some cases the only paper in Financial Accounting for Business. The course introduces non-accounting students to accounting basics in their first semester at the University. In some cases the course leads to subsequent courses in accounting such as Management Accounting for Business.
3.0 Main Capabilities
Upon completion of the course, you will be able to:
Explain financial accounting terminology and the recording process.
Discuss and apply the basic principles of accounting, the accounting model, and the accounting cycle. Prepare the full set of financial statements. Demonstrate and show how items such as assets, liabilities, share capital, etc., are reported in the financial statements. Carry out journal entries and adjustments. Prepare and analyze a trial balance. Analyze financial statements using ratio analysis.
4.0 Methods of Teaching
The lecturer will thoroughly discuss the sections in the course outline. Comprehensive examples will be articulated to the students. Students will also be asked to research in groups and present their answers during the lectures.
5.0 Student Assessments
1. Course work comprises 2 tests and 1 group presentation, with 30% weight of the final mark. Questions in the tests will cover all the important aspects of the course covered up to the time of the test. Aspects tested will not overlap. 2. The final exam will cover all the important aspects of the course and will carry a 70% weight of the final mark. 3. The final mark will be the summation of the exam mark and the course work mark. 4. University Grading System
Degree Class Range of Marks Description
1 75% - 100% Distinction 2.1 65% - 74% 2.2 60% - 64% 3 50% - 59% S 41% - 49% Supplement and Review F 0% - 40% Fail
6.0 CONTENT 6.1 Background to Accounting Evolution of Accounting Accounting Concepts Stakeholder analysis Accounting Information Needs 6.2 Development of the Profession Accounting Standards Conceptual framework Divisions of the Accounting functions 6.3 Accumulation and Information processing Books of Accounts Business Documents Ledger Accounting or Double Entry system Bookkeeping basics Accounting for Debtors Accounting for Assets Capital and Revenue Expenditures 6.4 Preparation of Financial Statements and Presentation of a Sole Trader business Statement of Profit or loss and other Comprehensive Income Statement of Financial Position Statement of Changes in Equity Statement of Cashflows Accounting for Depreciation The Trial Balance Year-end adjustments 6.5 Financial Accounting for Other Business Units Partnerships Corporates Non Trading Organisations 6.6 Interpretation of Accounting information Objectives of Accounting Ratio analysis Limitations of Ratio Analysis RECOMMENDED TEXTS AND REFERENCES 1. Business Accounting Latest edition by Frankwood and Alan Sangster Pitman Publications 2. Mastering Accounting Skills Latest edition by Margaret Nicholson Macmillan Master series 3. Fundamental Accounting by Flynn, Koornhof and Bezuidehout, Juta and Company Limited 4. Introduction to Accounting by F Musamba 5. Weygandt, J., Kieso, D., Kimmel P., Trenholm, B., & Kinnear, V. . Accounting Principles. 5th. Canadian ed. . Mississauga, ON: John Wiley and Sons Canada, Ltd., 2010.
