ACC 102 BOOK KEEPING II
COURSE OUTLINE
SEMESTER: SPRING 2014
Faculty Member’s Details:
Name:
Office:
Office Hours:
Email:
Web Site:
Demetris Constantinou
CDA College Limassol, 2, Kritona Tornariti, P.O Box 70114, CY-4161
By Appointment
demetris@cyprint.com.cy
http://www.cdacollege.ac.cy/
Course Description
The aim of this course is to enable candidates to develop an understanding of the basic principles of
accounting. It is very useful for candidates who wish to work in areas of business that will involve the
recording of financial transactions. All businesses require accurate accounting records that are maintained
on a regular basis. Consequently, there is a demand for employees who possess these skills. This course
offers our students the chance to acquire the essential skills that will enable them to succeed in the first level
of Book keeping examinations.
Learning Outcomes
By the end of the course, students will be able to:







Explain the subdivision of the Ledger
Prepare a three column Cash Book, a Petty Cash Book and enter transactions in the appropriate Day
Books
Understand the function of the Journal and prepare Journal Entries
Correct errors in the accounts
Understand the purpose of preparing a Bank Reconciliation Statement
Calculate the value of stock
Write up control accounts
Prerequisites: ACC 101 I or Consent of Instructor
Type of Course: Compulsory for Certificate in Secretarial Studies
Teaching Methods: Lectures, in class exercises, independent and private study, group work.
Course Teaching Hours: 52 periods a semester. The course is delivered during a 13-week semester.
Assessment method and weight: 30% coursework and 70% final examination. Coursework can be one or
more of the following: student presence and participation during the semester, mid-term examinations and
tests. Passing mark 40%.
1
ASSESSMENT
Class Participation/Tests:
Mid-term examination 1:
Mid-term examination 2:
Final examination:
6%
12%
12%
70%
Mid-term examination: The mid-term examinations will be of one and a half hours each. They will consist
mostly of exercises and/or multiple-choice questions.
Final Examination: The final examination will be of two hours. It will be comprehensive and it will test the
students on the material covered during the semester.
Secretarial Studies Grading System
%
Grade
Grade
Grade
Meaning
90-100
80-89
75-79
65-74
60-64
55-59
40-54
Below 40
A
B+
B
C+
C
D+
D
F
Excellent
Very Good
Good
Above Average
Average
Below Average
Poor
Failure
Grade Points
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.00
MAIN BOOK
Title:
Author:
Year:
Practical Book keeping, Level 1
Marios Charalambous
2011
ADDITIONAL READING
Title:
Authors:
Year:
Λογιστική Α΄Λυκείου
Προδρόμου – Πέτσας
2007
Title:
Authors‫׃‬
Edition:
Business Accounting, Volume 1
Frank Wood – Alan Sangster
11th
Title:
Author:
Year:
Accounting Level 1
Kolarides Institute
2004
2
LEARNING OUTCOMES TABLE
Week
1
2
3
4
5
6
7
8
Learning Outcomes And Content Of The Course
Explain the subdivision of the Ledger:
-Sales or Debtors Ledger (all individual accounts of trade debtors)
-Purchases or Bought or Creditors Ledger (all individual accounts
of trade creditors),
-Cash Book (Cash and Bank accounts),
-General or Nominal Ledger (all of the remaining accounts)
Define Cash Book
Explain all columns on the left hand side and right hand side of
the Cash Book
Understand how to record transactions in a three column Cash
Book
Define Bank Current Account
State the different methods of payments through Bank Account
(Cheque, Standing Order, Credit Transfer, Direct Debit)
Define Dishonoured Cheque
Define Bank Deposit Account
Define Bank Charges
Define Petty Cash Book and the Imprest System
Draw up a Petty Cash Book, enter there in relevant transactions
and balance the Petty Cash Book
Enter transactions in the appropriate day books
Purchases Day Book
Purchases Returns Day Book,
Sales Day Book
Sales Returns Day Book
Define Journal
Understand the function of the Journal and point all the
transactions enter in the Journal
Prepare Journal Entries with narrations
Activities
Lecture-Exercises
Lecture-Exercises
Lecture-Exercises
Lecture-Exercises
Lecture-Exercises
Guidelines for the mid
term exam
Mid Term Exam 1
Be informed about errors in the accounts (and their correction)
which do not affect the agreement of the Trial Balance:
-errors of omission
-errors of Duplication
-errors of commission
-reversal of entries
-error of principle
-error of original entry
-compensating errors
Be informed about errors which affect the agreement of the Trial
Balance
Discover and correct errors after the preparation of final accounts
Draw up the Statement of the Correct Net Profit. Analyse which
items should be added to the Incorrect Net Profit and which items
should be deducted in order to correct errors and calculate the
Correct Net Profit.
Explain why the Bank Statement Balance and the Cash Book
balance may disagree:
A. items appearing on the Bank Statement but not recorded
in the Cash Book (Standing Order, Credit Transfer, Direct
Debit, Bank Charges, Dishonoured Cheques)
3
Lecture-Exercises
Lecture-Exercises
Lecture-Exercises
9
10
B. items recorded in the Cash Book but not appearing on the
Bank Statement (Unpresented Cheques, Deposits not yet
credited by the Bank)
Understand the purpose of preparing a Bank Reconciliation
Statement
Up-dating the Cash Book and adjust the Cash Book Balance
Prepare a Bank Reconciliation Statement
Valuation of Stock
Define Cost, Cost of Purchase and Net Realisable value
State principle of stock valuation
Mention significance of stock valuation
Analyse stock taking before and after end of financial year
Calculate Cost of Sales
Calculate the mark up (Gross Profit as a percentage of cost of
sales) and the margin (Gross Profit as a percentage of sales)
Lecture-Exercises
Guidelines for the mid
term exam
Mid Term Exam 2
Lecture-Exercises
Define Sales Ledger Control account
Define Purchases Ledger Control account
Discuss the reasons of creating Control accounts
11
12
Learn how to write up the Sales Ledger Control Account
Explain minority balances and contra settlement
List items not included in Control Accounts
Learn how to write up the Purchases Ledger Control Account
Show the totals of Sundry Debtors and Sundry creditors as they
appear in the Balance Sheet
State the ratio of Debtors to Net Sales
Lecture-Exercises
Lecture-Exercises
13
REVISION
Exercises
OTHER INFORMATION:
Class attendance: Students are expected to attend the classes regularly and be punctual.
Office hours: Students are encouraged and advised to visit regularly their instructor during the office hours
and discuss promptly any issue that seems to be important for the student and his/her success.
Humane matters: Inform your faculty member for any un-expectancies that may occur, thus not allowing
you to carry out your responsibilities.
Library: You are advised to visit regularly the library of our College and read articles published in
academic journals. I recommend you studying regularly among others, articles of your interest, published in
international journals.
Courses Notes: CDA College website allows students to easily download courses notes. For more
information contact any faculty member
NOTES:

Class attendance and participation in class discussion is expected and absences will affect your final
grade.
4