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HTU Course Outline BICT213
HTU Course Outline BICT213
COURSE OUTLINE
Course Description
This course introduces students to basic terminology, concepts, and practices of financial
accounting. It prepares the student in the theory and techniques of accounting and provides a
basic introduction to accounting for applications requiring accounting principles. Students will be
introduced to financial statements and the accounting cycle for a service and merchandise
business.
Course Objectives
At the end of the course, students should be able to:
i. Apply the fundamental concepts and assumptions that underlie financial accounting
principles
ii. Read correctly the primary financial statements, to understand the procedures used to
prepare them
iii. Apply the rules of debits and credits to prepare general and special journal entries for
common business transactions of a service enterprise and a merchandising business.
iv. Prepare a trial balance and subsidiary ledger reports and explain their interrelationships
and role in the accounting system.
v. Create an income statement, statement of owner’s equity and a balance sheet for a service
enterprise and a merchandising business and explain their purpose in an accounting
system.
Page 1 of 5
Revsine, L., Collins, D. W., & Johnson, B. (2017). Financial reporting and analysis (7th
ed.). United States of America: McGraw-Hill Education.
Young, S. D., Cohen, J., & Bens, D. A. (2018). Corporate financial reporting and analysis:
A global perspective (4th Ed.). Hoboken, USA: Wiley
Garbutt, D, (2019), Carter’s Advance Accounts; A manual of Book-keeping and
accountancy for students, Pitman
Gavor, S.D.K.M. (2022), Basic and Intermediate Accounting Volume 1, Millennium
Edition, CINTA PRINTA
Class Notes
Class notes will be available during the teaching and learning process. Students are however,
encouraged to endeavour to do research on the topic outside the classroom environment
Mode of Delivery
Lectures, Discussions, Presentations, Individual and Group assignments
Lecture Days and Period
Tuesdays from 3:00 m -5:00pm
Course Assessment
Grades will be determined by individual performance on cases and problems set. This includes
class participation (40%) and final exam (60%). The breakdown is as follows:
The written assignments consist of both problem set and cases. The problem set would be fairly
straightforward. Students are expected to work together on the project work in groups of four.
Pass Requirements
To pass the course, the student must submit all assignments, pass the continuous assessment, pass
the end of semester exams and must obtain at least 50% of the aggregate marks. Grades will be
awarded as follows:
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60-64 C 2.5 2nd Lower Pass
Fairly Good
55-59 D+ 2.0 2.0-2.99
50-54 D 1.5 1.5-1.99 Pass Satisfactory Pass
00-49 E 0.0 Fail Fail Failure
Weekly Outline
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Subsidiary Books
Purchases Day Book Wood, F. and Sangster A.
5 13 -19
th th
Sales Day Book (2021), Business
Mar. 23 Purchases Returns Day Book Accounting 1; Chp.14
Journal Proper Pages 155-200
Basic documents for subsidiary books
Subsidiary Books
The Cash Book Wood, F. and Sangster A.
6 20 -26
th th Difference between trade discount and (2021), Business
Mar. 23 cash discount Accounting 1; Chp.13
The Imprest system of keeping cash Pages 138-154
book
7 27th
Mar.-2nd Mid-Semester Examination
April, 23
The Accounting Equation
Meaning of the accounting equation Wood, F. and Sangster A.
3rd-9th The components of the Accounting (2021), Business
8 April, 23 Equation Accounting 1; Chp.1
Effects of business/financial Pages 7-12
transactions on the Accounting
Equation
The Double Entry System Wood, F. and Sangster A.
Steps involved in double entry system (2021), Business
9 10th-16th Advantages of double entry system Accounting 1; Chp.2
April, 23 Classification of the ledger Pages 18-49;
Chp.5 & 6 Pages 50-70
The Double Entry System Wood, F. and Sangster A.
Definition and types of Accounts (2021), Business
10 17th-23rd Preparation of accounts Accounting 1; Chp.2
April, 23 Balancing an account and extraction of Pages 18-49;
a trial balance Chp.5 & 6 Pages 50-70
Introduction to final account Gavor, S.D.K.M. (2022),
11 24 -30 th th
Purposes of financial statements Basic and Intermediate
April, 23 Preparation of statement of profit and Accounting Volume 1,
loss and statement of financial position Chp.6 &7 Pages 100-113
Gavor, S.D.K.M. (2022),
12 1st-7th Adjusting entries for financial statements Basic and Intermediate
May, 23 Prepaid expenses and accruals Accounting Volume 1,
Depreciation of non-assets Chp.6 &7 Pages 100-113
1st-7th Revision Week
13 May, 23
8th- 28th
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14&1 May, 23 Examinations and Vacation
5
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