Syllabus Of Subjects

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ACC 111 Accounting I What is accounting compared to book-keeping? Purpose, uses of accounting information Double entry accounting Extracting a trial balance Adjustments Prepayments, accruals, provisions for bad doubtful debts, bad debts, depreciation, preparation of trading, profit and loss and balance sheet, incomplete records ACC 161 Accounting II Partnership Accounts Definition and nature of partnership, Partnership Act, partner's capital accounts, fluctuating, fixed and current accounts, loan accounts, formation of partnership, trading, profit and loss accounts, profit and loss appropriation account, change in partnership, dissolution of partnership Company Accounts Distinction between a partnership and a limited liability company, private and public company, classes of shares, classification of capital, authorized, issued, called, paid-up, uncalled, accounting treatment, differences between provision, reserves and liabilities, bonus and rights issues of shares, redemption of redeemable preference shares, redemption of debentures, published accounts Basic Consolidated Accounts Preparation of consolidated balance sheet with one subsidiary, minority interest, pre-acquisition profits, goodwill/capital reserve on consolidation ACC 211 Accounting III Comparison of cost, managerial and financial accounting Elements of Cost Direct materials, overhead, determination of cost and profit Cost Accumulation Methods Factory job versus contract versus process accounting Cost Evaluating Performance Marginal costing, its application for break even analysis, preparation of functional, master and cash budget, flexible budget as an evaluation tool