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5.

3 Preparation of - Depreciation of non current assets including
CS/CCP Financial their disposal (by part exchange; ordinary
Principles of accounting Statements & sale; accident)
Year End - Methods and reasons of providing for
Adjustments depreciation
LEARNING OUTCOME: - Preparation of movement of property plant
At the end of this course the candidate should be able to equipment (as per International Financial
 Demonstrate sound understanding of the aims of accounting the two fold aspects of record Reporting Standards)
keeping and the ability to adapt it to different situations. - Trade receivables, bad debts w/o and
 Explain the regulatory framework of accounting, prepare financial statements for non- provision for bad and doubtful debts.
Profit oriented organizations and interpret financial information contained in the financial - Accruals, prepayments, reserves and
statements provisions.
 Analyze financial statement by use of ratios and statements of cash flows - Necessary adjustments in statements of
financial performance to record increase and
CONTENT: decrease in provision for bad and doubtful
debts.
No Topics Content
5.4. Financial - Features
5.1 Introduction to - The nature and purpose of accounting what is
Statements of - Types of small and medium sized entities
Accounting accounting?
small and - Income statement
- Users of financial statements and their
medium sized - Statement of financial position
information needs
entities
- Accounting Standards and their purposes
5.5 Confirming - Bank reconciliation statements
- Regulatory framework (ICPAK, IASB,
and Correcting - Control Accounts
IPSAB)
Mechanism
- Professional ethics
- Principles; Concepts and Conventions 5.6 Manufacturing - Elements of cost and cost behaviour
underlying the preparation of accounting Account - Preparation of manufacturing accounts,
statement statement of financial performance and
statement of financial position
5.2 Accounting - Double entry book-keeping
- Accounting treatment of manufacturing
procedures & - The cash book-two and three column
profit/loss and unrealized profit and closing
techniques including cash journal
stock (F/G)
- The ledger and their role in recording and
summarizing accounting data
- Books of original entry 5.7 Errors and - Errors AFFECTING & NOT AFFECTING
- Balancing accounts and preparing the trial their correction the agreement of the trial balance
balance - Use of the suspense accounts
- Introduction to simple statements of financial - The effect of errors on statement of financial
performance performance and statement of financial
- Statements of financial position position
5.8 Non-profit - What non-profit making organizations are
oriented - Receipts and payments accounts
organizations - Income and Expenditure accounts and
statement of financial position

5.9 Incomplete - Why incomplete records
Records and - Preparation of statement of affairs
Single entry - Preparation of financial statements
book keeping

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Accounting techniques in the public sector (budgeting. Users of public sector financial statement and officers (treasury. Objectives of public sector financial statements . Financial statements to reflect elementary . Introduction to .16 Other Areas . Basic contents of partnership agreement subsidiary company and/or one associate 5. plant and equipment & intangible assets (the ledger accounts of central and country governments are not examinable) 2 . property. 5. PREMIUM. Provision of Kenya Partnership Act (Cap company) 29) . accrual.14 Computerized . Over and under subscriptions . auditor general) . Selecting a good . Consolidated cash flow . statements 5. Consolidated income . accounting officers. Issue of shares at PAR. Partners current account and statement of . Accounting retirement and dissolution.15 Group . Published financial statements – (describe a Accounts statement and consolidated statement of complete set of published financial financial position (simple group structures statements but not preparation) comprising a holding company and one Partnership . Revenue ratios . Components of a .11 Accounts . Liquidity ratios (ii) Preparation of cash flow statement (International Accounting Standards 7) 5. forfeiture of computerized accounting system shares . Allotment and calls on shares. Share capital and reserve Accounting packages Company . Partnership statement of financial statement performance and appropriation account 5. Current trends in complete set of published financial computerized accounting software. Rationale for computerized Accounts DISCOUNT accounting system . Preparation of statements of financial computerized accounting system performance and appropriation account and . Published accounts: Components of a . Methods of classifying expenditure financial position between capital & revenue . IPSAS on inventory. public accounts committee. Emerging issues and trends in Financial changes in partnership such as admission. commitment and fund) . .10 simple . cash. Structure of the public sector and examples of entities in public sector . Features of public sector entities (as Accounting compared to private sector) .13 Public sector . Profitability ratios Statement . Petty cash book . Different accounting 5.12 Analysis of (i) Introduction to accounting ratios Financial . Challenges of a computerized the statement of financial position accounting system . What are companies? 5.