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FAR 150 Silibus

FAR 150 Silibus

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Published by ckyn greenleaf

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categoriesTypes, School Work
Published by: ckyn greenleaf on Jan 10, 2011
Copyright:Attribution Non-commercial

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01/10/2011

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LESSON PLAN
COURSE/CODE : Financial AccountingCREDIT HOUR : 3CONTACT HOUR : 4LECTURERS NAME : Nurul Asyikin binti Abdul Ghani Email : asyikin_ktd@yahoo.com
Weeks Topics1 CONTROL ACCOUNTS
y
 
The need for control accounts
 
y
 
The advantages of control accounts for debtorsand creditors
 
y
 
Identify the two major types of control accounts
 
y
 
P
reparation of the sales ledger control accountand the purchases ledger control account
 
y
 
At this stage treatment of bad debts is restrictedto the direct write-off method. Bill receivablesare not included until covered under Receivables.
 2-4 RECEIVABLES
y
 
Types of receivables
 
y
 
Accounts receivables (Debtors)
 
o
 
Bad debts, doubtful debts and provisionfor doubtful debts
 
o
 
Bad debts recovered
 
o
 
Discount allowed, discount allowable andprovision discount allowable
 
o
 
Accounting entries and balance sheetpresentation.
 
y
 
Notes or Bills receivables
 
o
 
Mechanism of notes receivables
 
o
 
Determine maturity date
 
o
 
Compute interest on notes receivables
 
o
 
Accounting entries to record notesreceivables and its disposition.
 
y
 
Internal control for receivables
 5-9 ACCOUNTING FOR NON-CURRENT ASSET (TANGIBLE)
y
 
Distinguish nature and types of non-currentassets.
 
y
 
Tangible NCA or
P
roperty,
P
lant and Equipment(
P
er FRS 116)
 
y
 
Initial Recognition and measurement Initial Costs.
 
y
 
Elements of cost
y
 
Self-constructed
P
roperty,
P
lant and Equipment
 
y
 
Subsequent costs: capital expenditure vs revenueexpenditure.
 
y
 
Depreciation
 
y
 
Method of depreciation:
 
o
 
Straight line method
 
o
 
Reduced balance method
 
o
 
Sum of the digits
 
o
 
Units of production.
 

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