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INTERMEDIATE ACCOUNTING

COX 3105

Course Description

Academic responsibility

Makerere University Kampala

UGANDA

March 2015

Course description

|Course Name |

|Intermediate Accounting |

|Course Code |

|COX 3105 |

|Target group: |

|Students at Bachelors, Masters and PHD levels, Highschool leavers, students enrolled on accounting professional courses, Practicing |

|accountants who need refresher course, Senior and Principal accountants and Permanent secretaries. |

|Workload |

|5 Credits (ECTS) Estimated average students total workload: 150 hours |

|Prerequisites |

|Formal criteria: Academic qualification: A’ Level, Diploma, Bachelor, Master level, Stage two of Certified Public accounting profession. |

|Practical conditions: |

|Should have basic knowledge of fundamental accounting principles, Introductory knowledge of computers, have access to internet, Should have a |

|good understanding written and spoken English. |

|Duration: |

|17 Weeks Including one week for the exam at the end of the course |

|Type |

|The course will begin with a week of face to face session to orient students on what they are supposed to do during the course. This will also|

|give an opportunity to the group to know each other and form peer discussion groups. |

|The rest of the weeks will be online with tutor interaction and guidance. The students in their team will be required to generate debates on |

|the current posted issues. This course is practical and therefore will involve practical and real life examples from the field and how they |

|can be solved. Peers will generate these practical solutions to the given problem. |

|Assessment will constitute quizzes, practical take home assignments and tests then final examination. |

|Language |

|English |

|Developing Institution: |

|UiA/Makerere University E-teaching group |

|Offering Institution |

|Makerere University |

| |

|Author |

|Turyakira Nazarius |

|Academic Responsibility |

|Makerere University |

|Copyright |

|Authors |

|Aims |

|This course is intended to build on fundamental accounting principles in enhancing preparation and interpretation of final accounts which |

|include the statement of financial position, statement of cash flows and statement of comprehensive income. It also offers general guidelines |

|on how companies can report on their financial performance to interested stake holders including shareholders and employees, banks and the |

|general public. |

|Learning resources |

|Learning Management System (LMS), articles, online lectures, URL-links, Online libraries, online practical assignments Online Quizzes, |

|e-books. |

|Objectives |

|By the end of this course the participants are expected to: |

|Apply accounting concepts and accounting standards to specialised forms of business organisations. |

|Prepare final accounts for different types of business organisations. |

|Prepare financial reports of different of different organization. |

|Gain a better understanding of accounting for trading and non trading organisations |

|The participants will gain/improve skills in |

|Preparing statement of financial position,incomestatement,statement of cashflows,branch accounts,payment schedules under a leased asset |

|Know the different standards that guide reporting and preparation of final accounts. |

|The participant should have developed or strengthened attitudes in: |

|Which standards guide which accounting reports |

|The main stakeholders in the use of accounting information |

|Content description (Learning units) |

|Module 1: Company Accounts |

|Accounting for issues of shares and debentures, Bonus and Rights issues of shares, Redemption of shares and debentures and presentation of |

|financial statements. |

|Module 2: Accounting for leasing |

|Definition of leasing as per international accounting standard (IAS17), accounting treatment for both finance and operating leases |

|depreciation provisions in the finance lease. |

|Module 3: Accounting for construction contracts IAS 12, Revenue, cost estimations and estimation of the profit to be taken to profit and loss |

|account, Silent features of contract accounting given that contracts take more than one financial year. |

| |

|Module 4: Cash budgets and other relevant budgets including forecasted income statement and statement of financial position. Preparation of |

|revenue budget, Inventory budgets, cost budgets, Schedule of receivables and payables. |

| |

|Module 5: Branch accounts |

|Centrally controlled branches including branch inventory account, Branch receivables account, Goods sent to branch accounts, branch expenses |

|account branch profit and loss account. |

|Autonomous branches including preparation of head office current account and Branch current accounts. Preparation of final accounts for |

|autonomous branches. |

|Module 6: Statement of cash flows (IAS7). Methods of preparing a statement of cash flows which includes the direct method and the indirect |

|method.Analysing activities in organizations which generate cash flows and to which cash is spent including cash flows from operating |

|activities,cashflows from investing activities and cash flows from finance activities. Final presentation of a cash flow statement using the |

|direct and indirect methods. |

|Module 7: Analysis and interpretation of financial statements. Ratio analysis, Format of a financial report and how this report is presented |

|to the different stakeholders. Limitations of ratio analysis. |

|Module 8: PPE IAS 16 (PROPERTY PLANT AND EQUIPMENT). How the PPE schedule is presented to record additions in PPE (Purchases), disposals, |

|Depreciation, revaluations.How to use the cost model or the revaluation model of an asset. |

|Mode of delivery and Infrastructure needed |

|This course will be put online for the first time and so there is need for orientation of all the participants by organizing a face to face |

|session. This session will bring together all the participants and their tutor to know each other. |

|Secondly the learners will be introduced to the learning management system and virtue classroom learning which is new in Uganda. |

|Main communication tools are: asynchronous, paced online discussion, e-mail, google documents, documents and participants’ contributions |

|archived in the LMS. Social media and e-books, blogs, Group folders in the LMS for uploading group write-ups and other documents. |

|Individual folders for archiving individual documents and portfolio for individual participants in the LMS will be used. |

|Individual and Group hand-in folders for uploading hand-in/graded assignments in the mon/study calendars with step – by – step |

|activities and expected deliverables. Common group rooms and platforms for discussions in the LMS. A Question & Answer (Q&A) platform to |

|address the participants’ questions |

|Infrastructure: |

|Computer and access to Internet. All participants will be given access to an LMS, to virtual classrooms, archives and other group-rooms. |

|Learning outcomes |

|On completion of this course the participants should be able to exhibit the following acquired skills, |

|Prepare final accounts of different companies. prepare the statement of comprehensive income, statement of financial position and statement of|

|cash flows. |

|Describe the process of issuing shares and debentures on the money markets. |

|Differentiate a finance lease and an operating lease and how leases are accounted for in the books of the lessee and the books of the lessor. |

|Prepare reports to analyse the performance a given company using ratio analysis. |

|Should exhibit mastery of handling an online course in accounting. |

|Teaching Methods |

|Detailed study guide with learning tasks and activities, learner-centered approach with tutor-guided learning, peer-peer collaboration and |

|communication, group work and projects, negotiation of meaning in asynchronous threaded discussions, group and individual hand-ins. Group and |

|individual assigned readings, analysis and studies. Video lectures, peer tutoring and assessment. Online quizzes. |

|Assessment |

|Individual contributions and peer discussions and quizzes will account for 30 marks. Practical assessments where individual participants will |

|solve real life problems will account for 10 Marks. The final assessment will account for 60%. Graded A-F based on the ECTS |

|Bibliography |

|Study guide, articles, videos, internet sources, Government websites, Additional reference literature, other websites provided by the tutor, |

|face book, Titter. |

|LMS administration |

|Makerere University |

|Course evaluation |

|Formative and summative evaluation questionnaires |

|Fees |

|Internal students: free |

|External Students within the East African Community: USD 1200 |

|External Students outside the East African Community: USD 2500 |

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