SYLLABI PART B FINANCIAL ACCOUNTING

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The aim of the module is to build on the body of Accounting knowledge learnt in the Introduction to Accounting module, develop and assess knowledge and skills required in the preparation of various forms of Accounts and accounting statements of various organizations.


 

LEARNING OUTCOMES

At the conclusion of this module the candidate will be able to.

  • Prepare company financial statements for internal and external use.
  • Prepare simple consolidation accounts
  • Prepare specialised accounts i.e. Branch accounts, Royalties, Investments.
  • Interprete and analyse financial accounts.
  • Make the necessary preparations for audit.
  • Introduction to Financial Accounting
  • Quantitative Techniques

PRE-REQUISITE LEARNING

Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been approved as meeting the Institute’s requirements.

LEARNING CONTENT

General revision of first course.

Partnerships

Accounting for partnerships including changes in profit sharing ratios and conversion to companies and dissolutions.

Corporate Accounting

Steps in formation, issues of shares and debentures of limited companies including pre-incorporation profits.

Preparation of financial statements of companies for management and publication in compliance with statements and guidelines on generally accepted accounting practices, including the international accounting standards.

Preparation and Presentation of Financial Statements

Preparation of basic financial statements of companies where subsidiaries are wholly owned complying with relevant international accounting standards including treatment of taxation in Financial Statements and Accounts

Accounts of Different Types of Organizations

Preparation of accounts for branches and trusts.

Transactions of a Special Nature

Investments, underwriting, redemption of shares and debentures,

Royalties,

Consignments,

Joint ventures,

Hire purchase (in accordance with relevant accounting standards).

Analysis and Interpretation

Financial statements and the use of ratios.

Using ratios to analyse and interprete financial statements e.g. activity, liquidity, profitability and gearing ratios.

Cash Flow Statements

Preparation of cash flow statements for companies (excluding consolidated cash flows) as per the requirements of the relevant International Accounting Standard(s).

Accounting Information as an aid to Management

Preparation of budgets, forecasts, cash budgeting.

NOTE:

Candidates may make use of hand-held, self-powered, silent and non-programmable calculators but intermediate working steps must be shown.

Candidates are expected to apply theory to practical situations.

ASSESSMENT SCHEME

Three hour examination paper

RECOMMENDED READING

Wood F

Sangster A (2005)

Business Accounting

(10th Edition)

Pitman Publishing London
Mans KN, Boshoff A, Binnekade CJ, Koppeschaor ZN (2004) Cilliers and Mans

Group Statements – Volume II (9th Edition)

Lexisnexis Butterwoths Durban
Zimbabwe Government (2000) Zimbabwe Compaies Act 24:03 Government Printers Harare
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