DEPARTMENT OF PROJECT MANAGEMENT TECHNOLOGY
PMT 203 - Introduction to Accounting
COURSE PARTICULARS
Course Code: PMT 203
Course Title: Introduction to Accounting
No. of Units: 3
Course Duration: Two hours of theory per week for 15 weeks.
Status: Compulsory
Course Email Address: aoakinduko@futa.edu.ng
Course Webpage: http://www.fwt.futa.edu.ng/courseschedule.php?coursecode=PMT%20204
Prerequisite: NIL
COURSE INSTRUCTORS
Mr Alexander O. Akinduko
Bode Akindele Building,
Dept. of Project Management Technology,
Federal University of Technology, Akure, Nigeria.
Phone: +2348033467656
Email: aoakinduko@futa.edu.ng
COURSE DESCRIPTION
This course is an introductory course meant to acquaint students with science background with
basic commercial accounting methods, to afford its understanding and adaptation to personal and
business activities.
COURSE OBJECTIVES
The objectives of this course are to:
 introduce students to basic accounting systems and methods; and
 provide students with opportunities to acquire practical bookkeeping skills.
COURSE LEARNING OUTCOMES / COMPETENCIES
Upon successful completion of this course, the student will be able to:
(Knowledge based)


explain the nature and purpose of accounting;
identify the users of accounting information and their needs;
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

classify and record business transactions in books of accounts; and
prepare financial statements of a sole trader.
GRADING SYSTEM FOR THE COURSE
This course will be graded as follows:
Class Attendance
10%
Assignments
10%
Test(s)
20%
Final Examination
60%
TOTAL
100%
GENERAL INSTRUCTIONS
Attendance: It is expected that every student will be in class for lectures. Attendance records
will be kept and used to determine each person’s qualification to sit for the final examination. In
case of illness or other unavoidable cause of absence, the student must communicate as soon as
possible with the instructors, indicating the reason for the absence.
Academic Integrity: Violations of academic integrity, including dishonesty in assignments,
examinations, or other academic performances are prohibited. You are not allowed to make
copies of another person’s work and submit it as your own; that is plagiarism. All cases of
academic dishonesty will be reported to the University Management for appropriate sanctions in
accordance with the guidelines for handling students’ misconduct as spelt out in the Students’
Handbook.
Assignments and Group Work: Students are expected to submit assignments as scheduled.
Failure to submit an assignment as at when due will earn you zero for that assignment. Only
under extenuating circumstances, for which a student has notified any of the instructors in
advance, will late submission of assignments be permitted.
Code of Conduct in Lecture Rooms: Students should turn off their cell phones during lectures.
Students are prohibited from engaging in other activities (such as texting, watching videos, etc.)
during lectures. Food and drinks are not permitted in the laboratories.
READING LIST
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Akinduko, A. O. (2001). Basic Accounting. Spetins Educational Publishers, Akure, Nigeria.
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Castle, E. F. and Owens, N. P. (1976). Principles of Accounts. Macdonald and Evans Limited.
Plymouth, United Kindom.
2
5
Vickery, B. G. (1973). Principles and Practice of Book-Keeping and Accounts. Donnington
Press. Reading, United Kingdom.
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Wood, Frank (1981). Business Accounting Volume 1. English Language and Book Society,
Pitman Publishing. London, United Kingdom.
Legend
1- Available in the University Library
2- Available in Departmental/School Libraries
3- Available on the Internet.
4- Available as Personal Collection
5- Available in local bookshops.
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COURSE OUTLINE
Week
1
2
Topic
Remarks
Introduction and Course Overview:
Nature and Purpose of Accounting
During this first class, the
expectation of the students from the
course will also be documented.
Specimen copies of source
documents like receipts, invoices
will be used to explain what
transactions are and how they are
recorded.
Students will be given an overview
of the various subsidiary books and
their relationship with source
documents.
Book-keeping
 Meaning of Book-keeping
 Business Transactions
 Books of Accounts
 Source Documents
Books of Accounts: Subsidiary Books
3
4
The four types of cash book will be
taught in this class, giving
attention to the ruling and
contents of each type of cash book.
Subsidiary Books: Cash Book
5
Subsidiary Books: Sales and Purchases Journal
The peculiar format and contents of
these books will be discussed
6
Subsidiary Books: Returns Outwards and Return
Inwards Journal
4
The use of credit notes in
acknowledgement of returns and
entries in the books will be covered.
7
Subsidiary Books: General Journal
The special use of the general
journal will be emphasized and an
outline of entries covered in it will
be discussed.
8
MID-SEMESTER CONTINUOUS ASSESSMENT
9
The Ledger: Meaning and classification
The significance of the ledger as a
principal book of account will be
explained.
10
Posting from the Subsidiary Books to the Ledger
11
The Trial Balance and Financial Statements
12
Accounting Concepts and Convention; Capital and Revenue
distinction.
13
Trading, Profit and Loss Accounts and Balance Sheet
14
Adjustments to Final Accounts
15
Revision
Different methods of posting from each of
the subsidiary books to the ledger will be
explained to the students.
The procedure for extracting the trial
balance and its use for the preparation of
financial statements will be covered.
The major principles and assumptions
which underlie the preparation of financial
statements will be covered. The meaning
of capital and revenue will be explained,
and the significance in the preparation of
financial statements emphasized.
Students will be acquainted with the
contents of the financial reports of a
company generally, while the Trading,
Profit and Loss Accounts and the Balance
Sheet will be covered in details.
The effect of end of year adjustments will
be treated. Only depreciation, prepayments
and accruals will be covered at this stage.
This is the week preceding the final
examination. Here, evaluation will be done
to assess how far the students expectations
for the course have been met.
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