Course Content Financial Accounting Bscs

University of Sargodha
Department of CS & IT
COURSE OUTLINE
Program: BSCS (Regular / Self) 4th semester
Course Title: Financial Accounting
Course Code: MNG-2210
Course Structure: Lecture: 3/ Labs: 0
Credit Hours: 3
Prerequisites: None
Instructor: Ch. Ghulam Rasul
Email: Ghulam.rasul@hotmail.com
DESCRIPTION & OBJECTIVES

Course Objectives:
This course intends to introduce students with knowledge of Financial Accounting required to help
them to understand the process of financial management and to develop modern accounting
information systems. It will also help to enhance their ability to solve business and financial matters.
Learn Outcomes:
The learning outcomes will be to provide understanding of:

1) Basic accounting concept and techniques and their applications in various business and
financial problems.
2) Equip them with accounting skills and knowledge that can be applied for financial decision
making.
3) Financial analysis of various financial statements at work place.
Text Books and Readings:
 Financial and management accounting by Jan Williams, Sue Haka, Mark Bettner and
Joseph Carcello, McGraw-Hill/Irwin; 16th Edition (2011).
Reference Materials:
 Fundamental Accounting Principles with Connect plus by John Wild, Ken Shaw, and
Barbara Chiappetta, McGraw-Hill/Irwin; 20th Edition(December 27, 2010).
 Accounting Principles by jack L. Smith, Robert M. Keith and William L. Stephens,
McGraw-Hill Companies, 3rd Edition(1993).
 Financial Accounting by M. Asghar Paracha Edition 18th (2018).
 Accounting by Sohail Afzal and M. Arif Ch.
Course Contents:
1) Introduction to Accounting: Nature, Purpose and Scope of Accounting, Objectives of Accounting,
Users of Accounting Information and their Respective Needs, Qualities of Useful Accounting
Information, Accounting Principles: Going Concern, Accruals, Consistency, Prudence, Business
Entity, Duality, Money Measurements, Substance Over Form, Realization.
2) Book Keeping: The Accounting Cycle, Double Entity Book-keeping and Books of Original Entry,
The Ledger, Cash Book and the Trial Balance.
3) Basic Financial Statements: Structures of Financial Statements for a sole Trader, Statement of
Financial Position (The Balance Sheet) for a sole Trader.
4) Adjustments to Financial Statements: Carriage In and Carriage Out, Bad Debts, Bad and Doubtful
Receivables, Bad Debts Recovered, Drawings, Discount Received and Allowed, Accrued and
Prepaid Incomes and Expenses and Depreciation and Disposal of Property, Plant and Equipment.
5) The Cash Book: Two Column Cashbook, Analytical Cashbook and the Petty Cashbook.
6) Expected Learning Outcomes: Purpose of Bank Reconciliation, Causes of Difference Between
Cash and Bank Balances, Bank Reconciliation Process, Bank Overdrafts, and Dishonoured
Cheques.
7) Property, Plant and Equipment (PPE): Classification of Long-Term Assets, Accounting for PPE,
Revenue and Capital Expenditure, Relevant Cost of PPE, Method, Relevant Cost of PPE, Methods
of Estimating Depreciation, Revaluation Method, Revaluation of PPE, Exchange of Assets,
Disposal of Assets, Schedules of PPE and Presentation and Disclosure of PPE in the Financial
Statements.
8) Control Accounts: Uses of Control Accounts, Sales and Purchases Ledger Control Accounts.
9) Accounting Errors: Types of Accounting Errors, Errors Not Affecting the Trial Balance and Errors
Affecting the Trial Balance. Adjusted Trial Balance, Closing entries and post-closing Trial Balance.
10) Accounting for Partnerships: Introduction of Partnership Agreements, Appropriation of Profit.
Detailed Lesson Plan for Lectures:
Week: Topic to be Discussed Date/Timing
1 Introduction to Accounting, Accounting Principles/Concepts and As per given
Conventions, Branches of accounting. timetable.
2 Book-keeping, Double Entry Book-keeping, Monetary/Non-Monetary
Events and Transactions, Cash & Credit Transactions, Accounting
Equation, Effects of Business transaction on Accounting Equation.
3 Analysis/Classification of Business Transactions, Single Entry & Double
Entry System, Accounts and types of Accounts, Debit & Credit rules for
Assets, Liabilities, Expenses /Revenue etc.
4 Journal and rules for journalizing, Simple Entry & Compound Entry,
Capital & Drawing Account.
5 Ledger, Balancing of Ledger Accounts, Trails Balance. Direct/Indirect
Expenses and Revenue.
6 Methods of preparing Trail Balance, Advantages of Trail Balance,
Accounting Cycle to Trail Balance,
7 The Cash Book, Single & Two Column Cash Books, And their
preparation.
8 Three Column Cash Book, The Petty Cash Book.
9 Bank Reconciliation, Purpose and Causes of differences b/w Cash &
Bank Balances, Preparation of Reconciliation Statements Accounts.
10 Classification of Short term and Long Term Assets and Liabilities,
Revenue & Capital, Capital & Revenue Expenditures, Profit/Loss under
Capital and Revenue.
11 Depreciation, Definition & Causes of Depreciation, Types of
Depreciation
12 Basic Financial Statements (Final Accounts), Trading Account, Profit &
Loss account.
13 Statements of Financial position (Balance Sheet), Structure of Balance
Sheet for a Sole Trader.
14 Accounting Errors & Accounting Adjustments to Financial Statements,
Accrued & Prepaid Income and Expenses, Bad Debts & Provision.
15 Accounting for Partnership, Introduction Partnerships, Agreements
and Deed. Appropriation of Profit.
16 Revision/Presentation & Completion left over topics of course
Handouts/Notes/Pdf are Attached of all weeks.

Research Project.
N/A
Assessment/Evaluation Criteria:
Sessional Marks: 20 (Attendance, Assignment, Class Participation/presentation
and class discipline & behavior)
Mid Term Exam = 30
Final Term = 50
Rules and Regulations

1) Every student must have to maintain discipline class in true spirit
2) Every student is expected to respect teacher, class mates and all others persons in authority in
the university.
3) Every student should be in room before start of class and roll call is to be taken before start of
lecture and no one is allowed to leave during lecture without the permission.
4) Assignment should be submitted within the prescribed time.
5) Mobile phone is not allowed to be used in the class.
6) Every student is expected to be courteous and helpful to other.
7) No student is allowed to cause disturbance to other fellows students in class.
8) No student shell use abusive language against a fellow student in the class.
9) Student who is found habitual of missing lectures in this course shell not be allowed to sit in the
class/term test without the permission of the Chairman of Dept.
10) Every student have to abide by all rules and regulations prescribed by university in true letter
and spirit. Any student found guilty will be dealt with as per discipline rules.

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University of Sargodha

DESCRIPTION & OBJECTIVES

The learning outcomes will be to provide understanding of:

Handouts/Notes/Pdf are Attached of all weeks.

Rules and Regulations

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