COURSE SPECIFICATION
Course code
Course title
ACC 301
Introduction
to
Intermediate
Financial
Accounting 1
Department
Accountancy, Business Administration &
Entrepreneurial Studies
Credit unit
2
Level (UG)
Level 3
Course Coordinator
Kanu Clementina (Rev. Sr)
Official phone number and email Mobile-080357447080
address
Email- srmenfu2009@yahoo.com
Office Hours
Other staff (if applicable)
Mr. Chinoso Ugwuoke
Official phone number and email Mobile-08177493848
address
EmailTuesday 10.00am- 11.00am &
Office Hours
Thursday 2.00pm-3.00pm, by appointment
Lecture Time
Lecture Venue
Tutorial Tim
Tutorial Venue
For academic year
Contact hours for the semester
Time: Tuesday 4:00pm to 5:00pm
Venue: Block B Room 4 (B4)
Wednesday 10.00am- 11.00am
Venue: Block C Room 4 (B4)
2013/14
Lectures, tutorial and assignments
Assessment
Method
Proportion of marks
Mid Semester Exam [15]%
Coursework
[15]%
Examination
[70]%
This course is to be taken as part of the BSc Business and Management
BSc Business and Management (Accounting)
following programmes:
BSc Sociology
BSc Psychology
COURSE AIMS- ALIGNMENT WITH FUNAI’S VISION, MISSION AND PROGRAMME OBJECTIVE
The objective of this course is to produce very brilliant students who will be equipped with good
knowledge of financial accounting and be happy to embrace the real world of accounting.
INTENDED LEARNING OUTCOMES
Having completed this course the student is expected to:
1.
2.
3.
4.
5.
6.
7.
8.
Understand key concept of company account
Explain the meaning of company, types of company and formation of company
Understand how shares are being issue in order to raise capital for the running of the companies.
Know to make accounting entries in amalgamation
Understand how to prepare absorption account
Know how to prepare capital reduction and capital reconstruction
Know how to prepare conversion of partnership to Limited Liability Company.
Understand how to treat IFRS.
LEARNING AND TEACHING METHODS
The course will be delivered through a combination of lectures, tutorials and assignments.
INDICATIVE CONTENT
Lecture/Assignments programme
FUNAI
WEEK
Topic/Reading for private study
Tasks/Think points for private study
Lecturer
1.
Introduction to company account.
2.
Types of shares
Introduction to company account Unit
1
Types of company shares Unit 11
Rev. Sr, C Kanu
3.
Redemption of denentures
Redemption of debentures Unit 111
4.
5.
Amalgamation
Absorption
Amalgamation Unit 1V
Absorption Unit V
Rev. Sr, C Kanu
6.
Conversion of partnership
Rev. Sr, C Kanu
7.
Mid –Semester Test
Conversion of partnership to ltd liab
co. Unit VI
Mid–Semester Test
8.
Conversion of partnership
Rev. Sr, C Kanu
9.
Amalgamation of partnership
10
11.
12..
13.
14.
15.
16.
17.
Amalgamation of partnership
Capital reduction
Capital reconstruction
Cash flow statement
IFRS
In class Revision
Exams
Exams
Conversion of partnership to ltd liab
co. Unit V11
Amalgamation of partnership . Unit
V111
. Amalgamation of partnership Unit IX
Capital reduction Unit X
Capital reconstruction Unit X11
Cash flow statement Unit X111
IFRS Unit X1V
Mr. Chinoso
Ugwuoke
Mr. Chinoso
Ugwuoke
Mr. Chinoso
Ugwuoke
Rev. Sr, C Kanu
Rev. Sr, C Kanu
Rev. Sr, C Kanu
Rev. Sr, C Kanu
Rev. Sr, C Kanu
Rev. Sr, C Kanu
Rev. Sr, C Kanu
INDICATIVE KEY LEARNING RESOURCES
Core reading list
1. Essentials of Fincancial Accounting
O.A., Longe and R.A Kazeem
2.Financial Accounting made Simple
Vol. 1 , Robert O.Igbem. FCA
3. Accountancy for higher exams
C.S. Ola
Please use, or refer to, in your lecture/ assignment sessions the notions and/or material in the books listed
above
Supplementary reading
www.ffinancial accounting .org
CONTINIOUS ASSESSMENT
The Intended Learning Outcomes are assessed through:
Assessment
Mid semester Exams
Coursework (Assignment)
Semester Exams
Weight
15%
15%
70%
Deliverables - important dates
Ensure that you make a careful note of when the assessment tasks are due in for this course. Try not to leave
working on these tasks until the last minute – this is stressful for you and tends to lead to poor quality work.
Remember that you have several assessments (for different courses) due the same week and you will need to plan
for this.
Assessment
Mid semester exam-
Due date
FUNAI WEEK 10
To be held at the regular
class time and venue
Coursework
Feedback & Result
14 working days after the
assessment
Feedback
on
your
work
TO BE DETERMINED BY
COURSE
COORDINATOR
FUNAI WEEK 22-23
The
university is
committed
to providing
14 working days after the
Semester Exam
you
with
assessment
written
feedback for all assessed coursework within 14 working days from the submission date. You will get feedback on
your performance on a feedback form which will be returned to you. If you do not receive feedback within this time,
then you should first contact the course leader. If it proves necessary, you should then contact the Head of
Department.
Submitted coursework, including your final year project, will not be returned to you. This is true for all
coursework, in all courses and at all levels, and does not apply to only this course. We must keep the original copy
of all coursework to provide the external examiners with a complete record of your work.
Late coursework
It is the University policy to accept and grade all late items of coursework (up to the published latest date for
submission). There is no such thing as 'an extension'. You cannot negotiate new deadlines, and you do not need to
get agreement about handing in your work late from the course leader or any other member of staff. Late
coursework submissions are, however, subject to penalties (capping) that determine the maximum grade that you
can achieve depending upon how late the work is. The current penalty scale can be found below:
The following caps to be uniformly applied, in the absence of relevant mitigating circumstances accepted by the
BoE:
Up to 1 working day late
Up to 2 working days late
Up to 5 working days late
Up to 10 working days late
Up to 15 working days late
More than 15 working days late
Mark capped at 90%
Mark capped at 80%;
Mark capped at 70%;
Mark capped at 60%;
Mark capped at 50%;
Mark capped at 0%.
A working day is here defined as Monday to Friday at any time of year, with the exception of Nigeria national
holidays. Students with mitigating circumstances can apply to have penalties removed via submission of the
appropriate form and evidence within 7 days of the submission deadline. How to do this can be found in the
University Assessment Policy and Procedure.
Planning your time
i.
Students are expected to attend all classes including seminars and laboratory sessions for each
course. It is mandatory for students to have a minimum attendance of 75% in this course to be eligible
to take the final semester examination.
ii.
Note: Instructors are not required to provide mid semester test make-up.