UNIVERSITY OF EMBU

SCHOOL OF BUSINESS AND ECONOMICS

Department of Business and Economics
COURSE OUTLINE
Course Code: BAC209/303
Course Title: ACCOUNTING AND REPORTING FOR ASSETS
Lecturer: Dr. Mary Maina    Contacts: 0724679426 Email:
marymainaw@gmail.com/maina.mary@embuni.ac.ke           

Course Purpose
BAC 209/BAC 303: ACCOUNTING AND REPORTING FOR ASSETS (45 hours)
Prerequisite: None
Course Purpose
To enable the student to acquire a demonstrable knowledge on major aspects of Accounting
theory, conceptual framework and structure of financial statements of business entities.
Expected Learning Outcomes
By the end of this course, the students should be able to:
1. Understanding of financial reporting standards
2. Role of key accounting bodies that regulate the profession
3. In-depth understanding and computation measurement of various financial assets within a
firm
4. Reporting and measurement of financial Assets within a firm
5. Roles of financial accountant in relation to Assets management
Course Content
Week 1: Conceptual framework for financial reporting
Outline the elements of a financial statements
Understand the conceptual frame of accounting
Outline qualitative characteristics of financial information
Differentiate between principles and assumptions in accounting
Appreciate the need for accounting ethics
Week 2 The institutional setting and development of financial reporting standards

Briefly explain the need for regulatory framework

explain principles and rules based systems
explain advantages and disadvantages of IFRS
setting of IFRS
coordinating with national standard setters
Week 3: Measurement and reporting of receivables
Give examples of current assets
Account and prepare financial extracts in relation to account receivables
Accounting for bad debts

week 4: Measurement and reporting of property, Plant and equipment

Give examples of non-current assets
Initial recognition
Subsequent recognition
Account and prepare financial extracts in relation to PPE

Week 5: Cat One

Week 6: Measurement and Reporting for Intangible Assets
Give examples of Intangible assets
Initial recognition
Subsequent recognition
Account and prepare financial extracts in relation Intangible assets

Week 7: Measurement and reporting of financial instruments

Give examples of Financial Instruments
Initial recognition
Subsequent recognition
Account and prepare financial extracts in relation to financial instruments assets
Week 8: Disclosure and presentation of Financial Instruments
Week 9: Measurement and reporting of Leased asset and Impairment of assets.
Classification of leases
Operating lease
Finance lease
Account and prepare financial extracts in relation Leases
Impairment of assets
Week 10: Measurement and reporting of inventories
Week 11: Cat Two
Week 12: Impairment of assets.
Internal indicators of Impairment
External Indicator of Impairment
Week 13&14: Final Exams

Mode of Delivery
Lecture Method; Independent Study and Group discussions; Case Studies; Simulations
Instructional Materials and or/equipment
Texts, audio and video DVD’s, computer software, case studies
Course Assessment
Continuous Assessments Tests 40%
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 Final Examination 60%
Total 100%
Core Reading materials
1. Wood, F. and Sangster, A Business Accounting (11th Edition), International Thompson
2. Nzmo,N. D., (2002) “Basic Accounting”. University of Nairobi Press.
References
1. Weygandt, Jerry J., Kimmel, Paul D., & Kiseo, Donald E. (2010). Financial accounting.
New York: John Wiley & Sons.
2. Albrecht, W.S., Swain, M., Stice, E., & Stice, J. (2010). Financial accounting. Florence,
SC: Cengage Learning.
3. Stice, E., Stice, J., & Diamond, M. A. (2005). Financial accounting: Reporting &
analysis. Florence, SC:. Cengage Learning.

Journals
1. Journal of Accounting and Finance
2. Journal of accountancy
Detailed Course Delivery Plan

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