Course Description

The course builds on the knowledge attained in Financial Accounting l.  It affords a student a deeper understanding of partnership formation and dissolutions. In addition, the course will expose students to formulation of the Financial Reporting Conceptual Framework and its usefulness. Emphasis is again placed on presentation of financial statements in accordance to International Accounting Standards. The concept of time value of money will be reviewed in relation to business decision making.

Course Objectives

Upon completion of the course the students should be able to:

1. Describe what is meant by a conceptual framework for financial reporting. 2. Discuss the elements of the financial statements (reference IAS 1)

3.     Prepare Company Financial Statements according to IAS 1.

4.     Analyze financial statements of business organizations using various techniques 

5.     Understand the concept of time value of money and carry out operations thereof.

6.     Apply the concept of time value of money in real life situation.

7.     Prepare disclosure as required by various IAS/IFRS