Provides an overview of accounting knowledge essential to explore the mechanism of messurement, Recognition and Presentation of current and non-current assets in financial statements
Welcome to this course HBC 2201: Intermediate Accounting 1. I trust you will
find it interesting, stimulating and valuable. Accounting is the language that
pervades organizations and markets because it is used to engage and measure
commercial transactions and to determine performance. This course covers
accounting knowledge essential for effective collection, collation, classification,
quantification, assessment, analysis and communication financial information
about the economics and performance of the enterprise, and analysis and
interpretation of such information thereof. This is in line with the realization that
managers make extensive use of accounting information in their day-to-day work
and accounting information is fundamental to corporate governance in that it
provides the means of making the organization’s management accountable to
outsiders such as owners. This course is designed to enable students to
understand and acquire skills necessary in accounting for both current and
noncurrent assets of a business enterprise. This is with particular emphasis to
measurement, recognition and presentation of these assets in financial
statements as fundamental aspects of accounting.
Course Pre-requisite:
HBC 2107: Introduction to Accounting II.
Course Purpose:
To explore the mechanisms of measurement, recognition and presentation of
current and noncurrent assets in financial statements in the context of the
conceptual framework of accounting and the International Financial Reporting
Standards.
Course Objectives:
At the end of the course it is expected that the student will be able to:
1. Evaluate the conceptual framework of financial reporting in the context
of accounting for assets.
2. Apply the measurement techniques for the various current and
noncurrent assets.
, ii
3. Recognize assets into financial records.
4. Present assets in financial statements.
Course Description
The Conceptual Framework of Accounting, Accounting for Cash, Accrual Versus
Cash Accounting, Accounting for Inventory, The Historical cost Concept,
Perpetual Inventory Accounting, Periodic Inventory Accounting, Inventory
Valuation Approaches: FIFO, Weighted Average, Moving Average; Accounting for
Debtors, Recognition, Factoring, Valuation, Disposal; Accounting for Investments,
Long
Term Investments, Short Term Investments; Accounting for Leases in the Lessors,
Operating Leases, Financing Leases; Accounting for Non Current Assets,
Acquisition, Disposal, Intangible Assets, Natural Resource, Depreciation,
Amortization and Depletion, Asset Revaluation
Instruction methodology
• Lectures and tutorials ·
• Case studies ·
• Group discussions
Assessment information
The module will be assessed as follows;
• 20% of marks from two (2) assignments to be submitted online
• 20% of marks from one written CAT to be administered at JKUAT
main campus or one of the approved centers
• 60% of marks from written Examination to be administered at JKUAT
main campus or one of the approved centers
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kawavivian171. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
