School of Business and Economics

Department of Accounting and Finance

Course outline

Academic year: 2023/2024

Programme: Bachelor of Science (Accounting and Finance)
Department: Accounting and Finance
School: Business and Economics
Lecturer’s Name: DR. Philip Adoyo
Lecturer’s Contacts: Telephone - 0736427595
Email: padoyo@maseno.ac.ke
Course code: BFA 413 Course Title: ADVANCED FINANCIAL ACCOUNTING 1
Pre-requisite: BFA 101 Contact Hours: 44
Year of Study: 4 Semester: 1
Course purpose: The course aims at equipping the learner with the ability to determine distribution of shares in
partnership firms and formulation of rare/specialized business undertakings
Expected Learning Outcomes: By the end of the course the learner shall be able to:
 Compute share capital payable by a new partner
 Evaluate Goodwill of the firm
 Prepare books of the firm upon conversion to an incorporated association
 Design specialized business undertakings
 Prepare and maintain records for such specialized undertakings
Course Content:
TOPIC TOPIC TITLE TOPIC SUB-TITLE DURATION WEEK
(HOURS)
1 CONSIGNMENT ACCOUNTING COST PRICE 3 1
INVOICE PRICE 3 2
2 BRANCH ACCOUNTING DEPENDENT 4 3
INDEPENDENT 4 4
3 DEPARTMENTAL ACCOUNTING SEPARATE RECORDS 4 5
INTER-DEPARTMENTAL TRANSFERS 3 6
CONSOLIDATED BALANCE SHEET 3 6&7

4 EQUITY CHANGES IN SHARING RATIOS ON ADMISSION 2 8

PARTNERSHIPS REVALUATION OF ASSETS 3 9
ADJUSTMENTS FOR GOODWILL 3 10

5 EQUITY CHANGES DEATH/RETIREMENT OF A PARTNER 4 11

6 DISSOLUTION OF REALIZATION OF ASSETS 2 12
PARTNERSHIPS DISTRIBUTION OF PROCEEDS 2 13
INSOLVENCY 4 14
7 CONVERSION OF AMALGAMATION OF SOLE
PARTNERSHIPS PROPRIETORSHIPS
CONVERSION TO INCORPORATED
ASSOCIATION

Mode of Delivery: Through Lectures and demonstrations

Instructional Materials
Course assessment: The course shall be assessed through continuous assessments (Sit-in CATs and Take-Away);
and final examination at the end of the semester as:
TAKE AWAY 15%
SIT-IN 15%
FINAL EXAM 70%

Core Reference:
- Kimuda D.W. - A Textbook of Financial Accounting, East African Educational Publishers (2008)-
Kenya
- Maheshwari, S.N. and Maheshwari, S.K. - Advanced Accountancy Vol.1, Vikas publishing House,
India (I0th Ed.), 2009

Recommended Reference:
Frankwood and Sangstcr- Business Accounting
Jain S and Narrang, N.: Advanced Accounting, Vol.1, Vikas Publishing House-India (2009)