CATHOLIC UNIVERSITY INSTITUTE OF BUEA

SCHOOL OF BUSINESS

Course Title: ACCOUNTING THEORY AND PRACTICE

Course Code: MAC 601
Credit Value: 6 (30 hours)
Course Status: Compulsory (C)

COURSE SYLLABUS

First Semester 2020/2021 Academic Year

Course Description
This course provides an in-depth examination of the various theories and contemporary research
findings which describe and explain important accounting phenomena observed in practice. Particular
attention is given to the contracting paradigm, information content of accounting figures, accounting
and aspects of economic behaviour.

Course Objectives

The course aims at acquainting the students with a coherent set of logical principles and a general
frame of reference for evaluation and development of sound accounting practices. Using case studies
of existing organizations, this course will help to develop analytic problem solving and ethical decision
making skills.

At the completing this course, the students/trainees will be able to:

 i. Define accounting theory: Nature and Scope, accounting methodology, different approaches
to theory construction.
ii. Define and explain the relationship among the basic accounting concepts of assets, liabilities,
stockholder’s equity, income and expenses.
iii. Explain the accounting equation.
iv. Explain the rules of the double-entry accounting system.
v. Prepare basic financial statements (balance sheet, income statement, and statement of cash
flow)
vi. Explain the relationship among the financial statements.
vii. Perform ratio analysis of accounting statements
viii. Recognize the limitations of financial statement analysis

Course Outcomes:

The course will primarily be focused on recent financial accounting research. While students shall
deliver on assigned topics/tasks. The facilitator will conduct discussions on key issues in financial
accounting as defined in the course outline. Each chapter will include a lecture of the materials, an in-
class review of some relevant problems, and group exercises or quizzes. Lectures may include the use
of PowerPoint slides, Excel. Students are strongly encouraged to participate and ask questions/
comments on the webinar. Keeping up with the material will be the key to your success in this
accounting course. Thus, it is imperative that you read the chapter prior to the day that we cover the
materials and keep up with the homework. It will allow you to absorb the material reviewed and get
your questions answered in a timely manner.

The course provides a basis to compare concepts prevalent in accounting. After a completed course,
the student should display an ability to:

i. Evaluate the notions and ideas of thought that have shaped a theoretical basis for accounting,
ii. Formulate how a theoretical base for accounting can be used in the systematization of
accounting through policies, frameworks, and design considerations,
iii. Examine the relationship between accounting theory and practice, and
iv. Sketch the development in accounting thought and structure leading up to the current
prevalent accounting methods.

To develop the concepts prevalent in accounting, the course covers and expands on:
 v. The role of accounting theory,
vi. The concepts, principles and procedures that have been part of the elaborations of the
foundations for accounting,
vii. How the concepts and principles are used as building blocks in the development of accounting
policies and conceptual frameworks, and how they jointly shape the accounting systems and
design,
viii. The interplay between accounting theory and practice, and the themes and trends in the
different salient accounting systems leading up to the current trans-global accounting structure
and harmonization effort.

Mode of Delivery
The material for this course shall be delivered through the following:
 10 hours andragogy lectures of PowerPoints slides & classroom training
 1hour of YouTube video lectures
 5 hours of online tutorials and group work.
 5 hours of assessment correction (assignments & single session exam)

Method of Assessment
Students will be evaluated through the following parameters:
 Assignments and Exercises 20 %
 Formal or Standardized test 30%
 A single session examination 50%

Continuous Assessment
The Continuous Assessment (CA) is made up of 50 percent of the evaluation of the students. It will
comprise of 4 sections:
 30% point for standardised test (individual assignment)
 20% points for group assignments (administrative seminars)

Examination
Exams shall be on 50 percent and will be taken in one sitting at the end of the semester. During the
final examinations students are advised to do all drawings in pencils, and should come along with all
their writing materials.

Class Participation
Full preparation for each class is essential. On Day One we will discuss how students will need to
prepare for lectures and classes.
Students performance grading will be across the Passed and failed scale below:
1. Passed Grades
A Grade 80% plus
B+ Grade 70 - 79%
B Grade 65 -69%
C+ Grade 60 – 64%
C Grade 50 – 59%
2. Failed Grades
D+ Grade 45 – 49%
D Grade 40 – 44%