UNIVERSITY OF DAR ES SALAAM

BUSINESS SCHOOL
Department of Accounting
AC 300: ADVANCED FINANCIAL ACCOUNTING I

Course Outline 2009-2010

Course Instructors Details Dr J. Kingori Office location: Email: : Consultation hrs: Dr. R. Mushi Office location: Email: : Consultation hrs: Ms S. Mohamed Office location: Email: : Consultation hrs: All instructors Fax: All instructors Phone:

UDBS # 204 nenga@udbs.udsm.ac.tz Monday 3-5pm DUP #208 rmushi @udbs.udsm.ac.tz Wednesday 3-5pm UDBS # 112 salamamohamed@udbs.udsm.ac.tz Tuesday 3-5pm 022 2410510 022 2410006

1. Course description The course will deal with advanced issues in corporate accounting. Five topics will be covered which are partnership, company accounts and redemption of shares, consolidated balance sheet, branch accounts, and one selected International Standard that will reinforce the material covered in the other 4 topics. The course will be taught by three instructors as indicated above. 2. Course objectives To equip students with knowledge necessary in tackling advanced issues in corporate accounting. The course will offer several senior level topics in financial accounting. The topics are examined from both the theoretical and practical perspectives. AC300 course outline 2009-2010
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3. Course Outcomes At the end of the course students are expected to be able to tackle advanced issues in corporate accounting. 4. Course requirements Knowledge of AC 101 regarding partnership and company accounts. You will need to review the relevant chapters in the Bautista and Assad book for introductory element of these topics. Assess 5. Assessment
Item 1. Assessment Task Semester test Length 1hour 30 mintes 2. Quizzes, Assignments and At least 2 10% Weighting 25%

Seminar participation 4. University Semester Exam 2 hours 60%

6. Outline of overall course structure The course will be broken down into five topics, 4 are indicated below, and an additional topic may be added, this being on one International standard selected by the Instructors. There will be at least 13 weeks of teaching, and 2 weeks of review. Semester test will be administered on a weekend to increase the ease of securing sufficient space for comfort and independence of work. Students are expected to attend every lecture as indicated in the University timetable i.e Wednesday 09-11 am. There will be four seminars for the course and every student is expected to attend just one seminar at the time convenient for him/her. The time allocated for each seminar is indicated in the University timetable.

AC300 course outline 2009-2010

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7. Lecture content Lecture Content Topic Dates and Recommended Readings

1.

Branch Accounts Introduction

Dates: 4/11/2009

Branch accounts kept at Head 11/11/2009 Office 18/11/2009 o Branch stock account Recommended readings: kept at selling price Paul Gee (1988) Bookkeeping and o Branch stock account Accounts, Butterworths, London. kept at cost Woods Frank (8th ed) (or wood and o Branch stock account Sangster) Business Accounting 2, kept at cost plus markLondon. up Killagane Yona (2006) Financial Branches keep their separate records of account
Accounting for professional students, Dar es salaam. Baker, R, Lembke V., King, T. (1996), Advance Financial Accounting. McGrow-Hill, 3rd ed chapter 11 J. Kingori class handout on branch accounting

2.

Partnership Review of theory of partnership

Dates: 25/11/2009 2/12/2009

Conversion of a Partnership into a 16/12/2009 liability company Dissolution of a Partnership

Recommended readings: Woods Frank (8th ed) (or wood and Sangster) Business Accounting 2, London. Killagane Yona (2006) Financial Accounting for professional students, Dar es salaam. Baker, R, Lembke V., King, T. (1996), Advance Financial Accounting. McGrow-Hill, 3rd ed chapter 11 Paul Gee (1988) Bookkeeping and Accounts, Butterworths, London.

AC300 course outline 2009-2010

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Lecture Content Topic

Dates and Recommended Readings

3.

Company accounts and redemption of shares Issue of shares (covered in AC 101, it may not be taught but you are expected to review the material) Forfeiture of share and re-issue of the forfeited shares Redemption of the redeemable shares Consolidated Balance Sheet Treatment of goodwill and preacquisition profits/reserves Preference shareholding in a subsidiary

Dates: 23/12/2009 30/12/2009 6/1/2010 Recommended readings: Same as in partnership but in addition, Dates: 13/11/2009 19/11/2009 26/11/2009 URT (2002) - Company Act

4.

5.

Dividends out of post-acquisition 2/2/2009 profits from a subsidiary Dividends out of pre-acquisition 9/2/2009 profits from a subsidiary Recommended readings: Debentures holdings in a Barry Topple - Consolidated Accounts, subsidiary London Inter-company balances Woods Frank (8th ed) (or wood and o Dividends receivable and Sangster) Business Accounting 2, payable London. o Interest receivable and Killagane Yona (2006) Financial payable Accounting for professional students, o Debtors and creditors Dar es salaam. o Unrealized profit on inter IASB (2009) International Financial company sales Reporting Standards, London Revaluation of Fixed Assets. J. Kingori class handout on Consolidation One selected International standard on 16/2/2009 financial reporting. Recommended readings: IASB (2009) IFRS, London

AC300 course outline 2009-2010

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8. Recommended references IASB (2009) International Financial Reporting Standards, London Barry Topple (---) Consolidated Accounts, London Paul Gee (1988) Bookkeeping and Accounts, Butterworths, London. Woods Frank (8th ed) (or wood and Sangster) Business Accounting 2, London. Killagane Yona (2006) Financial Accounting for professional students, Dar es salaam. Baker, R, Lembke V., King, T. (1996), Advance Financial Accounting. McGrowHill, 3rd ed chapter 11 Kingori, J. Handout on Branch Accounting Kingori, J. Handout on Consolidation

NB:

The instructor may announce any additional relevant readings at the appropriate times.

AC300 course outline 2009-2010

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