COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, ABBOTTABAD

Department of Management Sciences

COURSE PLAN
Financial Accounting & Reporting (MGT 430)
MBA 1 (Spring 2013)

Master of Business Administration

zaheerswati@ciit.net.pk

COMSATS Institute of Information Technology Abbottabad Course Plan Semester Spring 2013

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Course Code: MGT 430 Course Title: Financial Accounting and Reporting Classes: MBA (1) Course Teacher: Zaheer Ahmed

Total Credit Hours: 3

Lectures Credit Hours: 3

Lab. Credit Hours: nil Lab. Contact Hours: nil

Total Contact Hours: 3 Lecture Contact Hours: 3 Pre-requisite: nil

Office Hours: Students are not allowed in office

Course Description and Objectives: This course is designed to provide understanding of

accounting methods and procedures as followed by business organizations. It systematically covers the accounting process of classification, summarization, presentation in the light of established accounting practices and application of principles set out by International Accounting and Reporting Standards.

Course Outline and Contents

1.

Week 1
2. 3.

Orientation and basics for accounting Forms of Business, Accounting & Users Accounting Pillars, Transactions & Accounts Accounting Equation Variation Proforma Accounting Cycle (Assignment # 1) Quiz # 1 Recording in the book of Original Entry General Journal Introduction to Posting Preparation of Trial Balance (Assignment # 2) Errors in Trial Balance

Week 2
4. 5.

Week 3
6.

7.

Week 4
8.

9.

Week 5
10. 11.

Week 6
12.

Week 7

13. 14. 15.

Sessional I
Sessional I Debate Adjusted Entries Adjusted Trial Balance Quiz # 2 Financial Statements Closing Entries Worksheet Quiz # 3 GAAP and Statement Forms Cash Book Bank Reconciliation Statement Bank Reconciliation Statement (Cont) Cost of Goods Sold

Week 8
16. 17. 18. 19.

Week 9

Week 10
20. 21. 22.

Week 11

Week 12

23. 24.

Week 13

25. 26. 27. 28. 29. 30.

Week 14

Sessional II
Sessional II Debate Inventory Valuation Depreciation of Fixed Assets (Assignment # 4) Quiz # 4 Cash Flow Statement and FSA

Week 15

Week 16

31. 32.

Week 17

33.

Prototype for Terminal Discussion

Texts and Reference Books

Modern Accountancy, Mukherjee & Hanif, Volume I Second Edition Accounting the Basic for Business Decisions. Meigs William. Eleven Editions Advance Accounting, R L Gupta, Eleventh Edition Advance Accounting, M C Shukla, T S Grewal & S C Gupta, Volume I