Syllabus For The Subject Financial Accounting

Part One
THE BASIC ACCOUNTING MODEL
1. ACCOUNTANCY AND ECONOMICS DECISIONS
Learning Objectives
This Chapter in a Nutshell
Understanding Business Organizations
What is accounting
Users of Accounting Information
Financial and Management Accounting
Assumptions Underlying Accounting measurement
Generally Accepted Accounting Principles and the Accounting Environmental
Forms of Business Organization
Accounting, Capital Market and Corporate Governance
The Accounting Equation
Financial Statements
Fields of Accounting Activity
Accounting as an Academic Discipline
Ethical Issues in Accounting

2. PROCESSING TRANSACTIONS
Learning Objectives
This Chapter in a Nutshell
Accounts
Classification of Commonly Used Accounts
The Double-Entry System: The Basis of Modern Accounting
Recording Transactions
Trial Balance

3. MEASURING INCOME
Learning Objectives
This Chapter in a Nutshell
Income Measurement
Accrual Accounting
The Adjustment Process
Preparing Financial Statements from the Adjustment Trial Balance
Overview of the Accounting Cycle

4. COMPLETING THE ACCOUNTING CYCLE
Learning Objectives
This Chapter in a Nutshell
The Worksheet; The Accountant’s Invaluable Tool
Using the Worksheet
Closing Entries
Post-Closing Trial Balance
Reversing Entries

5. ACCOUNTING FOR MERCHANDISING TRANSACTIONS
Learning Objectives
This Chapter in a Nutshell
Income Measurement for a Merchandising Business
Revenue from Sales
Cost of Goods Sold
Operating Expenses
Worksheet for a Merchandising Business
Classified Financial Statements

PART TWO
MEASURING AND REPORTING
ASSETS, LIABILITIES AND SHAREHOLDERS, EQUITY

6. INTERNAL CONTROL SYSTEMS, CASH AND RECEIVABLES
Learning Objectives
This Chapter in a Nutshell
Internal Control Systems
Internal Control for Cash
Cash
Bank Reconciliation
Debtors
Bills Receivable
Special Cases of Revenue Recognition
Factoring
Financial Analysis of Debtors
Cash Conversion Cycle

7. INVENTORIES
Learning Objectives
This Chapter in a Nutshell
Inventory Valuation and Income measurement
Determining the Physical Inventory
Pricing the Inventory
Inventory Costing Methods
Estimating Inventory System
Perpetual Inventory System
Accounting for manufacturing Costs
Financial Analysis of Inventories

8. FIXED ASSETS
Learning Objectives
This Chapter in a Nutshell
Fixed Assets in Perspective
Determining Cost of Acquisition
Accounting for Depreciation
Depreciation Methods
Special Problems in Depreciation Accounting
Capital and Revenue Expenditures
Depreciation in Income Tax Returns
Disposal of Depreciable Assets
Some Common Myths About Depreciation
Revaluation of Fixed Assets
Accounting for Natural Resources
Accounting for Intangible Assets
Impairment of Assets
Financial Analysis of Fixed Assets

9. LIABILITIES
Learning Objectives
This Chapter in a Nutshell
Liabilities in Perspective
Classification of Liabilities
Current Liabilities
Contingent Liabilities
Long-Term Liabilities

10. SHAREHOLDER’S EQUITY
Learning Objectives
This Chapter in a Nutshell

The Corporate Organization
Share Capital
Reserves
Buy-Back of Shares and Treasury Stock
Bonus Shares
Stock-Based Compensation
Earnings Per Share
PART THREE
ANALYZING ACCOUNTING INFORMATION

11. FINANCIAL STATEMENT ANALYSIS
Learning Objectives
This Chapter in a Nutshell
Objectives of Financial Statement Analysis
Standards of Comparison
Sources of Information
Quality of Earnings
Techniques of Financial Statement Analysis
Using Financial Ratios
Corporate Disclosure Policy
Efficient Market Hypothesis and Financial Statement Analysis

12. CASH FLOW STATEMENT
Learning Objectives
This Chapter in a Nutshell
Cash Flow Statement in Perspective
Purpose, Uses and Structure
Format of the Cash Flow Statement
Preparing the Cash Flow Statement
Reporting Cash Flows