SOLUSI UNIVERSITY

(A Chartered Seventh-day Adventist Institution of Higher Learning)

Bulawayo, Zimbabwe

 

FACULTY OF COMMERCE

DEPARTMENT OF ACCOUNTING

COURSE SYLLABUS

COURSE INFORMATION

Course Code and Name: ACCT 210/ACCT 211: Financial Accounting IIA

Pre-requisite: ACCT 112/120

No. of Credits: 3CR

Meeting Room:Blended (Online + Contact)

Lecturer:Miss S Moyo MSc Accounting & Finance; BCompt Accounting Sciences

Cell No:+263 778 539 634

E-mail address:skhue@solusi.ac.zw

 

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:

Describe what is meant by a conceptual framework for financial reporting.

Discuss the elements of the financial statements (reference IAS 1)

Prepare Company Financial Statements according to IAS 1.

Analyze financial statements of business organizations using various techniques

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

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

Prepare disclosure as required by various IAS/IFRS

 

 

 

 

 

 

 

Course procedures and requirements

`All students are encouraged to participate during devotion eg by giving testimonies or short sermons that will encourage other students.

Attendance in all scheduled class appointments is mandatory.

Students should be punctual in all classes.

Movement to be minimal but necessary

Each student is encouraged to participate in the class activities meaningfully.

Students are encouraged to work in small groups, but should refrain from duplicating or photocopying other students’ work. All assignments must reflect each student’s work and ingenuity.

 

Course Content

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Learning Outcomes in the Financial Reporting Conceptual Framework

Describe the usefulness of a conceptual framework

Describe the Financial Accounting Standard Board’s efforts to construct a conceptual framework

Understand the objective of financial reporting

Define the basic elements of financial reporting

Describe the basic assumptions of accounting

Explain the application of the basic principles of accounting

How IAS & IFRS are formed and the Due Process

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Learning Outcomes in Annual Financial Statements

Understand the purpose of Initial Public Offering

IAS 1 – Presentation of Financial Statements

IAS 8 – Accounting Policies, Changes in Accounting Estimates and correction of Errors

Disclosure requirements

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Learning Outcomes in Revenue; Liabilities & Events after the Reporting Period

IFRS 15 – Revenue recognition from contracts with customers

IAS 37 - Provisions, Contingent Liabilities, Contingent Assets

IAS 10 – Events after the reporting period

Disclosure Requirements

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Learning Outcomes in Property Plant and Equipment

IAS 16 – Property Plant and Equipment: Measurement & Recognition

IAS 16 – Property Plant and Equipment: Revaluation, depreciation & Derecognition

IAS 36 – Impairment of Assets

IFRS 5 – Non-Current Assets Held for Sale & Discontinued Operations

Disclosure requirements

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Learning Outcomes in Other Non-Current Assets

IAS 40 – Investment Properties

IAS 38 – Intangible Assets

IAS 20 – Government Grants and Assistance

Disclosure Requirements

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Readings Required:

Gripping GAAP

IFRS Handbook

ACCA F7 Study Pack

Companies Act 24:03

 

Examination and Grading System

There will be a mid-term and a comprehensive exam. In addition there will be tests/quizzes and assignments from time to time.

The final grade will be based in the following tentative weights:

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• Quizzes/tests10%
• Mid-term25%
• Assignments 5%
• Final examination60%
• Total 100%

 

To translate your percentage grade into a letter grade, the following grading will be used as a general guideline:-

 

A 90 – 100%A-80 – 89%B+75 – 79%

B70 – 74%B-65 – 69%C+60 – 64%

C50 – 59%D45 – 49%F 0 - 44%

 

 

 

 

 

BEHAVIORAL REQUIREMENT:

 

CLASS ATTENDANCE POLICY (SU)– Implementing the 20% Allowance to miss a Class

Assign quotas for each class, according to credits as follows: (translating the 20%)

1 credit course – 2 absentees allocated

2 credit course – 4 absentees allocated

3 credit – 6 absentees allocated

4 credit – 8 absentees allocated

If they do miss class after exhausting their quota, they get an “FA” grade from the Registrar – “Failed due to excess absence”

Tardiness to class is not acceptable

Bringing contrabands to class during tests will result in a grade of zero for that test

 

 

 

 

 

ACADEMIC HONESTY AND INTEGRITY:

All students are expected to maintain a high level of responsibility with respect to academic honesty. Students engaged in cheating or academic dishonesty of any form will be subject to disciplinary penalties, which include the possibility of failure for the course and/or dismissal from the University. Cheating, dishonesty, plagiarism, copying portions of another student’s work is totally unaccepted and will be dealt with seriously. A minimum penalty will be a zero for the course work submitted. Further action may be taken at the instructor’s discretion. In view of the fact that such dishonesty harms the individual, all students and the integrity of the University, policies on scholastic dishonesty will be strictly enforced.

 

While you are a student in my class, it shall be considered academic dishonesty for you to review, use, or discuss with another person any written assignments from any course (graduate or undergraduate) that I am teaching or that I have previously taught.

 

After the completion of my class, it shall be considered academic dishonesty for you to allow a current student of mine to review a paper you wrote for one of my classes.

 

In addition, any time you put your name on a test or written assignment for this course, you are asserting that it is your own work. If that is not the case, it shall be considered academic dishonesty. Plagiarism is considered academic dishonesty and plagiarized works will not be graded.

 

As you submit your written assignment, you are to also submit the anti-plagiarism report as well. No email submissions will be allowed. In case you have forgotten how to do a self-run plagiarism report, watch the video link below:

The Submission settings will only allow two documents to be submitted ie Written assignment + plagiarism report.

Font size: 12 ; Font type: Times New Roman ; Academic Referencing style: APA Style

The following Plagiarism penalties will apply:
>Failure to submit plagiarism report = automatic fail for the assignment
>0% to 20% similarity = No penalty
>20% to 30% similarity = 15% penalty of raw mark
>30% to 40% similarity = 30% penalty of raw mark
>40% to 50% similarity = 40% penalty of raw mark
>50% and above similarity = automatic fail for this assignment

You have 3 attempts to run your written assignment for plagiarism for the particular assignment

 

 

 

 

 

 

 

 

RUBRICS IN EVALUATING PAPERS, ASSIGNMENT, ETC

 

Standards: The following standards will be used for evaluating the papers, and assignments expected in this class:

 

Grade A	Grade B	Grade C	Grade D
Tightly focused writing relating to a narrow topic	Generally focused on single topic	Somewhat focused on broad topic	Scattered random writing without focus
A high degree of conceptual development	Indicates good ability to conceptualize	Concept discussed but not well developed	Little if any conceptualization
Properly documented where sources used	Outside sources given proper credit	Outside sources alluded to	No credit given to sources used
Excellent organization and logical progression of thought	Good organization and logic	Moderately well organized, but logical progression is not evident	Poorly organized with little or no logic evident
Excellent use of prose in capturing the essence of referenced material	A good job of summarizing the material reviewed	Much paraphrasing of other material	Mostly paraphrased or copied; not really the authors own work
Syntax and grammar excellently done. Well edited material	Only a few errors of minor significance	A number of errors, not well edited	Many errors, poor grammar and sentence structure
Complete yet concise discussion of issue	Concise and generally recognizes most aspects of the topic	Topic appears to be one-sided with aspects of the topic missing. Overly verbose	Incomplete discussion of the issue. Major points ignored
Opinion based on fact, research, or scholarly authority	Generally good evidence given in support of opinion	Evidence only somewhat support opinion	Opinion entirely unsupported

 

 

 

 

 

 

 

 

 

 

 

 

 

INSTRUCTIONS FOR ASSIGNMENT/PRESENTATIONS

Every individual or group presentation should be typed using Times New Roman, font 12 with 1.15 spacing

Not more than 10 and not less than 5 typed pages for individual assignment will be accepted

Use APA referencing type for both in-text and end of reference list

Plagiarism will result in a Zero grade

Assignments are not reports or summaries, there should be critical analysis of a given topic, use current literature

All presentations should be handed in prior to scheduled presentation time.

Make use of every free minute to gather information for your assignment.

Consultation within the Department is free.

Keep the due date for assignments in mind

All students are expected to actively participate in group presentations

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Note: Violation of any of the above instructions will result in loss of 3 marks per instruction violated.

 

TEACHER INFORMATION:

Name : Sikhumbuzo Moyo

Rank : Adunct Lecturer

Email : skhue@solusi.ac.zw

Cellphone #: +263 778 539 634

Office Location : Administration Building